PREXEL — AI_BUILDOUT · Issue No. 10 (daily)

Period: 2026-09-01 → 2026-09-01

Context hash: 65d3992af410f27e76b76a6fce60a3614f7b7ec9dbf3837439b446a61fec8d10

Today in Brief

New or reassessed this period: 24 chart-local call(s); the section below contains the decision-relevant subset.
Current evidence coverage: 23 usable / 11 no read — 13 bullish, 4 bearish, 6 mixed. These are coverage counts, not an aggregate market signal.
Open cross-domain events: 1
Filed capital-structure candidates (trailing 90d): 5
Forced-flow events (trailing 30d): 1
Open monitored opportunities: 0

What Changed

New or reassessed calls are selected from evidence dated or published inside this report period. They remain chart-local; opposing calls can appear together and no portfolio verdict is implied.

▼ Bearish — semiconductor equity leadership relative to the broad US market (Semiconductors vs S&P 500, Near term): Down 2.0% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.
▼ Bearish — META quarterly EPS execution versus consensus (Meta earnings surprise, Reported quarter): META missed consensus EPS by 13.0%. Wrong if: Next quarter's EPS surprise landing on the other side of ±1%.
▼ Bearish — listed data-centre landlord pricing relative to the broad market (Data-centre landlords vs S&P 500, Near term): Down 4.6% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.
▼ Bearish — public-market pricing of the AI-power cohort relative to the broad market (AI power names vs S&P 500, Near term): Down 8.0% over the last 30 days. Wrong if: A 30-day move through the opposite 2.0% threshold.
▲ Bullish — near-term public-market risk appetite (VIX term structure, Near term): Front VIX at 0.89× the 3-month tenor. Wrong if: The VIX term structure crossing the opposite 0.95/1.05 threshold.
▲ Bullish — OpenRouter public-app inference activity (Inference demand — OpenRouter, Near term): Up 15.2% over the last seven snapshots. Wrong if: The activity trend crossing the opposite 2% threshold.

18 additional new or reassessed call(s) are in the evidence appendix.

Cross-Domain Events

Open

Open
code	relationship	domains	detected	horizon d
FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE	conflict	capital_markets+supply_chain	2026-09-02 20:03:19	90

Recently resolved (trailing 14d)

Recently resolved (trailing 14d)
code	domains	resolved	resolution
FOUNDRY_VS_SEMICONDUCTOR_MARKET_DIVERGENCE	capital_markets+supply_chain	2026-08-28 21:24:52	The registered relationship no longer holds.

Forced Flows & Opportunities

Forced-flow events (trailing 30d)

Forced-flow events (trailing 30d)
code	instrument	direction	event date	est notional $	ADV multiple	decay d	class
FT_CEF_NAV	DXYZ	forced_sell	2026-08-17	30,450,945.15	0.9507	10	mechanical

No open opportunities.

Settled (trailing 30d — hits, misses, kills, unresolvables at parity)

Settled (trailing 30d — hits, misses, kills, unresolvables at parity)
setup class	instrument	status	settled at	calibration
FADE_FORCED_FLOW	DXYZ	killed	2026-08-30 23:03:29	Not yet graded (0 settled calls)

Filed Capital-Structure Developments

3 confirmed fact(s), 0 awaiting review, and 2 rejected match(es). Pending candidates are not confirmed transactions.

MICROSOFT · capex_commitment: 329100000000.00 USD; announced 2026-07-29.
NVIDIA · capex_commitment: 366000000000.00 USD; announced 2026-08-26.
NVIDIA · debt_issuance: 25000000000.00 USD; announced 2026-06-15.

Full filing links, excerpts, reviewer facts, and methodology are in the appendix.

Evidence Appendix — All Directional Observations

Semiconductors vs S&P 500 — ▼ Bearish

subject: semiconductor equity leadership relative to the broad US market
chart: capital_sox_spx
domain: Capital markets
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Down 2.0% over the last 30 days.
evidence: 30-day relative-price change: -2.05%.
conflicting evidence: none recorded
What would change this call: A 30-day move through the opposite 2.0% threshold.
data quality: price action, not fundamentals
metrics:

band_pct: 2
change_30d_pct: -2.052
components: ['GSPC.INDX', 'SOX.INDX']
series: RATIO_SOX_SPX
value: 126.86

High-yield vs investment-grade credit — ◆ Mixed

subject: public-credit risk appetite relevant to AI-buildout financing
chart: capital_hyg_lqd
domain: Capital markets
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Up 0.6% over the last 30 days.
evidence: 30-day relative-price change: 0.55%.
conflicting evidence: none recorded
What would change this call: A 30-day move through the opposite 1.0% threshold.
data quality: price action, not fundamentals
metrics:

band_pct: 1
change_30d_pct: 0.5495
components: ['HYG.US', 'LQD.US']
series: RATIO_HYG_LQD
value: 103.10

Equal-weight vs cap-weight S&P — ◆ Mixed

subject: US equity breadth relative to capitalization-weighted equities
chart: capital_rsp_spx
domain: Capital markets
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Down 0.7% over the last 30 days.
evidence: 30-day relative-price change: -0.68%.
conflicting evidence: none recorded
What would change this call: A 30-day move through the opposite 1.0% threshold.
data quality: price action, not fundamentals
metrics:

band_pct: 1
change_30d_pct: -0.6797
components: ['GSPC.INDX', 'RSP.US']
series: RATIO_RSP_SPX
value: 100.72

VIX term structure — ▲ Bullish

subject: near-term public-market risk appetite
chart: capital_vix_term
domain: Capital markets
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Front VIX at 0.89× the 3-month tenor.
evidence: VIX/VIX3M: 0.891.
conflicting evidence: none recorded
What would change this call: The VIX term structure crossing the opposite 0.95/1.05 threshold.
data quality: price action, not fundamentals
metrics:

vix_vix3m: 0.8914

AI event odds — ⊘ No read

subject: market-implied probability of registered AI-buildout events
chart: catalyst_ai_probability
horizon: Near term
data through: 2026-09-01
why no read: Tracked, but no qualifying data yet.
reasons: not enough event history yet
data quality: none

AMD earnings surprise — ▲ Bullish

subject: AMD quarterly EPS execution versus consensus
chart: catalyst_earnings_amd
domain: Catalysts
horizon: Reported quarter
data through / published: 2026-08-04 / 2026-08-27 20:28:51
interpretation: AMD beat consensus EPS by 23.0%.
evidence: Reported EPS 1.66 versus estimate 1.35.
conflicting evidence: none recorded
What would change this call: Next quarter's EPS surprise landing on the other side of ±1%.
data quality: company-specific event; free-tier source
metrics:

actual_eps: 1.66
estimate_eps: 1.35
event_date: 2026-08-04
surprise_pct: 22.96
symbol: AMD

Amazon earnings surprise — ▲ Bullish

subject: AMZN quarterly EPS execution versus consensus
chart: catalyst_earnings_amzn
domain: Catalysts
horizon: Reported quarter
data through / published: 2026-07-30 / 2026-08-23 11:29:20
interpretation: AMZN beat consensus EPS by 2.7%.
evidence: Reported EPS 1.88 versus estimate 1.83.
conflicting evidence: none recorded
What would change this call: Next quarter's EPS surprise landing on the other side of ±1%.
data quality: company-specific event; free-tier source
metrics:

actual_eps: 1.88
estimate_eps: 1.83
event_date: 2026-07-30
surprise_pct: 2.732
symbol: AMZN

Broadcom earnings surprise — ▲ Bullish

subject: AVGO quarterly EPS execution versus consensus
chart: catalyst_earnings_avgo
domain: Catalysts
horizon: Reported quarter
data through / published: 2026-06-03 / 2026-08-26 11:40:35
interpretation: AVGO beat consensus EPS by 1.7%.
evidence: Reported EPS 2.44 versus estimate 2.4.
conflicting evidence: none recorded
What would change this call: Next quarter's EPS surprise landing on the other side of ±1%.
data quality: company-specific event; free-tier source
metrics:

actual_eps: 2.44
estimate_eps: 2.4
event_date: 2026-06-03
surprise_pct: 1.667
symbol: AVGO

Alphabet earnings surprise — ◆ Mixed

subject: GOOGL quarterly EPS execution versus consensus
chart: catalyst_earnings_googl
domain: Catalysts
horizon: Reported quarter
data through / published: 2026-07-22 / 2026-08-30 23:10:57
interpretation: GOOGL beat consensus EPS by 216.3%.
evidence: Reported EPS 9.11 versus estimate 2.88.
conflicting evidence: none recorded
What would change this call: Next quarter's EPS surprise landing on the other side of ±1%.
data quality: company-specific event; extreme value — needs review; free-tier source
metrics:

actual_eps: 9.11
estimate_eps: 2.88
event_date: 2026-07-22
surprise_pct: 216.32
symbol: GOOGL

Meta earnings surprise — ▼ Bearish

subject: META quarterly EPS execution versus consensus
chart: catalyst_earnings_meta
domain: Catalysts
horizon: Reported quarter
data through / published: 2026-07-29 / 2026-09-01 01:19:14
interpretation: META missed consensus EPS by 13.0%.
evidence: Reported EPS 6.18 versus estimate 7.1.
conflicting evidence: none recorded
What would change this call: Next quarter's EPS surprise landing on the other side of ±1%.
data quality: company-specific event; free-tier source
metrics:

actual_eps: 6.18
estimate_eps: 7.1
event_date: 2026-07-29
surprise_pct: -12.96
symbol: META

Microsoft earnings surprise — ▲ Bullish

subject: MSFT quarterly EPS execution versus consensus
chart: catalyst_earnings_msft
domain: Catalysts
horizon: Reported quarter
data through / published: 2026-07-29 / 2026-08-29 21:40:26
interpretation: MSFT beat consensus EPS by 12.6%.
evidence: Reported EPS 4.74 versus estimate 4.21.
conflicting evidence: none recorded
What would change this call: Next quarter's EPS surprise landing on the other side of ±1%.
data quality: company-specific event; free-tier source
metrics:

actual_eps: 4.74
estimate_eps: 4.21
event_date: 2026-07-29
surprise_pct: 12.59
symbol: MSFT

NVIDIA earnings surprise — ▲ Bullish

subject: NVDA quarterly EPS execution versus consensus
chart: catalyst_earnings_nvda
domain: Catalysts
horizon: Reported quarter
data through / published: 2026-05-20 / 2026-08-20 09:53:02
interpretation: NVDA beat consensus EPS by 5.7%.
evidence: Reported EPS 1.87 versus estimate 1.77.
conflicting evidence: none recorded
What would change this call: Next quarter's EPS surprise landing on the other side of ±1%.
data quality: company-specific event; free-tier source
metrics:

actual_eps: 1.87
estimate_eps: 1.77
event_date: 2026-05-20
surprise_pct: 5.65
symbol: NVDA

Oracle earnings surprise — ▲ Bullish

subject: ORCL quarterly EPS execution versus consensus
chart: catalyst_earnings_orcl
domain: Catalysts
horizon: Reported quarter
data through / published: 2026-06-10 / 2026-08-25 13:09:40
interpretation: ORCL beat consensus EPS by 13.3%.
evidence: Reported EPS 1.79 versus estimate 1.58.
conflicting evidence: none recorded
What would change this call: Next quarter's EPS surprise landing on the other side of ±1%.
data quality: company-specific event; free-tier source
metrics:

actual_eps: 1.79
estimate_eps: 1.58
event_date: 2026-06-10
surprise_pct: 13.29
symbol: ORCL

Colo asking rents — N. Virginia — ▲ Bullish

subject: landlord pricing power in Northern Virginia colocation
chart: colo_asking_rates
domain: Colocation
horizon: Quarterly
data through / published: 2026-03-31 / 2026-06-17 00:00:00
interpretation: Asking rents at $212.50/kW-month and rising.
evidence: Public page states a $190-$235 range and continued average-rate increase
conflicting evidence: none recorded
What would change this call: The next market report showing the metric moving the other way.
data quality: dated public research; not a continuous feed
metrics:

market: Northern Virginia
metric: asking_rent_midpoint_usd_kw_month
prior_value: —
source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026
unit: usd_per_kw_month
value: 212.50

Colo capacity delivered — N. Virginia — ▲ Bullish

subject: delivered wholesale colocation capacity in Northern Virginia
chart: colo_capacity_delivery
domain: Colocation
horizon: Quarterly
data through / published: 2026-03-31 / 2026-06-17 00:00:00
interpretation: 1,136 MW added year over year and rising.
evidence: CBRE public webpage, Q1 2026 delivered inventory increase
conflicting evidence: none recorded
What would change this call: The next market report showing the metric moving the other way.
data quality: dated public research; not a continuous feed
metrics:

market: Northern Virginia
metric: inventory_added_yoy_mw
prior_value: —
source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026
unit: mw
value: 1,135.90

Data-centre landlords vs S&P 500 — ▼ Bearish

subject: listed data-centre landlord pricing relative to the broad market
chart: colo_public_landlords_spx
domain: Colocation
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Down 4.6% over the last 30 days.
evidence: 30-day relative-price change: -4.63%.
conflicting evidence: none recorded
What would change this call: A 30-day move through the opposite 2.0% threshold.
data quality: price action, not fundamentals
metrics:

band_pct: 2
change_30d_pct: -4.633
components: ['DLR.US', 'EQIX.US', 'GSPC.INDX', 'IRM.US']
series: BASKET_COLO_SPX
value: 112.83

Colo vacancy — N. Virginia — ▲ Bullish

subject: landlord pricing power in Northern Virginia colocation
chart: colo_vacancy
domain: Colocation
horizon: Quarterly
data through / published: 2026-03-31 / 2026-06-17 00:00:00
interpretation: Vacancy at 0.3% and falling.
evidence: CBRE public webpage, Q1 2026
conflicting evidence: none recorded
What would change this call: The next market report showing the metric moving the other way.
data quality: dated public research; not a continuous feed
metrics:

market: Northern Virginia
metric: vacancy_pct
prior_value: 0.8
source_url: https://www.cbre.com/insights/reports/global-data-center-trends-2026
unit: pct
value: 0.3

Hyperscalers vs S&P 500 — ◆ Mixed

subject: public-market pricing of the hyperscaler cohort relative to the broad market
chart: exposure_hyperscaler_spx
domain: Company exposure
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Down 0.6% over the last 30 days.
evidence: 30-day relative-price change: -0.62%.
conflicting evidence: none recorded
What would change this call: A 30-day move through the opposite 2.0% threshold.
data quality: correlation, not exposure evidence; price action, not fundamentals
metrics:

band_pct: 2
change_30d_pct: -0.6238
components: ['AMZN.US', 'GOOGL.US', 'GSPC.INDX', 'META.US', 'MSFT.US', 'ORCL.US']
series: BASKET_HYPERSCALER_SPX
value: 90.02

Neoclouds vs S&P 500 — ◆ Mixed

subject: public-market pricing of the neocloud cohort relative to the broad market
chart: exposure_neocloud_spx
domain: Company exposure
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Up 1.0% over the last 30 days.
evidence: 30-day relative-price change: 0.97%.
conflicting evidence: none recorded
What would change this call: A 30-day move through the opposite 2.0% threshold.
data quality: correlation, not exposure evidence; price action, not fundamentals
metrics:

band_pct: 2
change_30d_pct: 0.9717
components: ['APLD.US', 'CRWV.US', 'GSPC.INDX', 'IREN.US', 'NBIS.US']
series: BASKET_NEOCLOUD_SPX
value: 104.57

AI power names vs S&P 500 — ▼ Bearish

subject: public-market pricing of the AI-power cohort relative to the broad market
chart: exposure_power_spx
domain: Company exposure
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Down 8.0% over the last 30 days.
evidence: 30-day relative-price change: -7.96%.
conflicting evidence: none recorded
What would change this call: A 30-day move through the opposite 2.0% threshold.
data quality: correlation, not exposure evidence; price action, not fundamentals
metrics:

band_pct: 2
change_30d_pct: -7.962
components: ['CEG.US', 'ETN.US', 'GEV.US', 'GSPC.INDX', 'PWR.US', 'TLN.US', 'VST.US']
series: BASKET_POWER_SPX
value: 97

GPU rental availability — ◆ Mixed

subject: GPU rental-provider pricing power
chart: compute_availability
domain: Compute
horizon: Near term
data through / published: 2026-09-01 / 2026-09-01 20:56:13
interpretation: GPU capacity listed as available.
evidence: availability_state=available; capacity_booked_through=None
conflicting evidence: none recorded
What would change this call: Marketplace availability flipping to the opposite state.
data quality: advertised prices, not closed deals
metrics:

availability_state: available
capacity_booked_through: —

GPU resale values — ⊘ No read

subject: GPU asset residual values
chart: compute_residual_value
horizon: Medium term
data through: 2026-09-01
why no read: No qualifying data yet.
reasons: secondary-market data not yet available
data quality: source not yet wired

GPU spot vs contract pricing — ⊘ No read

subject: near-term GPU rental pricing
chart: compute_spot_contract
horizon: Near term
data through: 2026-09-01
why no read: No qualifying data yet.
reasons: not enough term-structure history yet
data quality: advertised prices, not closed deals

H100 spot rental price — ⊘ No read

subject: H100 rental-provider pricing power
chart: compute_h100_spot
horizon: Near term
data through: 2026-09-01
why no read: No qualifying data yet.
reasons: spot-price trend not yet available
data quality: advertised prices, not closed deals

Inference demand — OpenRouter — ▲ Bullish

subject: OpenRouter public-app inference activity
chart: compute_inference_demand
domain: Compute
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 20:01:45
interpretation: Up 15.2% over the last seven snapshots.
evidence: Seven-snapshot token-activity change: 15.23%.
conflicting evidence: none recorded
What would change this call: The activity trend crossing the opposite 2% threshold.
data quality: token counts differ across models; public apps only; rolling 30-day window
metrics:

token_change_7d_pct: 15.23
top_n: 100
total_requests: 2146963710
total_tokens: 138253754756329

US AI policy events — ⊘ No read

subject: US policy impact on AI-buildout beneficiaries and constraints
chart: policy_us_ai_events
horizon: Near term
data through: 2026-09-01
why no read: Tracked, but no qualifying data yet.
reasons: policy documents not yet classified for impact
data quality: none

N. Virginia power basis — ⊘ No read

subject: Northern Virginia data-centre power economics
chart: power_basis_nova
horizon: Near term
data through: 2026-09-01
why no read: No qualifying data yet.
reasons: power-basis data not yet available
data quality: none

PJM electricity demand — ⊘ No read

subject: PJM electricity demand
chart: power_load_pjm
horizon: Near term
data through: 2026-09-01
why no read: No qualifying data yet.
reasons: load baseline still accumulating (needs 28 days)
data quality: none

PJM day-ahead vs real-time prices — ⊘ No read

subject: near-term PJM electricity demand
chart: power_da_rt_spread
horizon: Near term
data through: 2026-09-01
why no read: No qualifying data yet.
reasons: day-ahead/real-time price data not yet available
data quality: none

Data-centre power capacity delivery — ⊘ No read

subject: AI data-centre capacity delivery
chart: power_capacity_delivery
horizon: Structural
data through: 2026-09-01
why no read: Capacity filings not yet wired in.
reasons: capacity filings not yet wired in
data quality: data plane not yet built

BDCs vs investment-grade credit — ▲ Bullish

subject: listed BDC pricing relative to investment-grade credit
chart: private_bdc_lqd
domain: Private markets
horizon: Near term
data through / published: 2026-09-01 / 2026-09-02 16:50:51
interpretation: Up 6.9% over the last 30 days.
evidence: 30-day relative-price change: 6.88%.
conflicting evidence: none recorded
What would change this call: A 30-day move through the opposite 1.5% threshold.
data quality: price action, not fundamentals
metrics:

band_pct: 1.5
change_30d_pct: 6.883
components: ['ARCC.US', 'BXSL.US', 'LQD.US', 'OBDC.US']
series: BASKET_BDC_LQD
value: 108.25

Private AI secondary pricing — ⊘ No read

subject: private AI-company secondary-market pricing
chart: private_secondary_discount
horizon: Near term
data through: 2026-09-01
why no read: Tracked, but no qualifying data yet.
reasons: no direct private-market marks yet
data quality: none

TSMC monthly revenue — ▲ Bullish

subject: leading foundry demand represented by TSMC monthly revenue
chart: supply_tsmc_revenue
domain: Supply chain
horizon: Near term
source period / assessed through / published: 2026-07-01 / 2026-09-01 / 2026-08-16 16:00:00
interpretation: Up 44.7% over the last year.
evidence: tsmc_revenue published year-on-year growth: 44.69%.
conflicting evidence: none recorded
What would change this call: Year-over-year growth crossing zero.
data quality: no flags
metrics:

mom_pct: 5.625
source_period: 2026-07-01
value: 467,580,548,000
yoy_pct: 44.69

Korean chip exports — ⊘ No read

subject: Korean semiconductor export demand
chart: supply_korea_semiconductor_exports
horizon: Near term
data through: 2026-09-01
why no read: No qualifying data yet.
reasons: monthly growth figure not yet available
data quality: none

Market Metrics

Power — load (EIA-930, latest complete day)

Power — load (EIA-930, latest complete day)
BA	as of	demand MWh	hours	anomaly z	YoY %
CISO	2026-09-01	732,835	24	—	—
ERCO	2026-09-01	1,732,225	24	—	—
PJM	2026-09-01	2,943,331	24	—	—

Power — prices (ISO LMP, latest day)

Power — prices (ISO LMP, latest day)
ISO	mkt	location	LMP avg	basis vs hub	spark 7HR
caiso	da	TH_NP15_GEN-APND	39.73	—	—
caiso	da	TH_SP15_GEN-APND	38.51	—	—
caiso	da	TH_ZP26_GEN-APND	37.53	—	—

Compute — GPU rental (latest day)

H100 1y contract (canonical $/hr): —
H100 1y contract (offered $/hr): —
H100 spot (canonical $/hr): —
H100 spot (offered $/hr): 2.668
as of: 2026-09-01
frontier SKU: b300
frontier spot (offered $/hr): 7.415
offered-only day: 1
sources: 2
spot trend 30d %: —
spot/contract spread %: —
note: advertised listings only — canonical (transacted/indexed) columns are empty by construction until an index source is wired (docs/04 — Current limitations).

CEF NAV premium (latest per fund)

CEF NAV premium (latest per fund)
fund	as of	price	NAV/share	NAV effective	premium %	premium z
DXYZ	2026-09-01	31.6	34.3	2026-06-30	-7.872	-0.8963

Supply chain (latest per series)

Supply chain (latest per series)
series	period	value	YoY %	MoM %	quality flags
tsmc_revenue	2026-07-01	467,580,548,000	44.69	5.625	—

Appendix — Filed Capital-Structure Review

Confirmed facts below are analyst-reviewed against primary filings. Pending matches are not confirmed transactions. Direction appears only when an analyst separately records a subject, horizon, rationale, and falsifier.

Confirmed facts

Confirmed facts
entity	type	announced	amount	commitment	reviewer
MICROSOFT	capex_commitment	2026-07-29	329100000000.00 USD	other	claude-automated-review (research-verified; delegated by operator 2026-08-31)
NVIDIA	capex_commitment	2026-08-26	366000000000.00 USD	other	claude-automated-review (research-verified; delegated by operator 2026-08-31)
NVIDIA	debt_issuance	2026-06-15	25000000000.00 USD	senior_notes	claude-automated-review (research-verified; delegated by operator 2026-08-31)

MICROSOFT · capex_commitment: The matched excerpt is narrative (AI infrastructure investment risk factor), but the same 10-K quantifies the forward commitment: "As of June 30, 2026, we had additional leases, primarily for datacenters, that had not yet commenced of $329.1 billion", commencing fiscal 2027-2033 with terms of 1-20 years (leases note). Context from the same filing: fiscal-2026 additions to property and equipment were $115,948M (vs $64,551M in fiscal 2025); operating lease liabilities $21,925M and finance lease liabilities $66,594M at Jun 30 2026. Amount recorded is the $329.1B uncommenced datacenter lease commitment, the filing's only quantified forward buildout commitment; commitment_type=other because the enum lacks a lease category. announcement_date is the 10-K filing date; effective_date the balance-sheet date. primary filing
NVIDIA · capex_commitment: Verified against the 10-Q commitments schedule (R55 detail, accession 0001045810-26-000075): total future purchase commitments as of Jul 26 2026 are $366B, composed of supply and capacity $279B, cloud service agreements $29B, data center leases not commenced $25B, equity investments $25B, and capital expenditures $8B, spread remainder-FY2027 $120B / 2028 $100B / 2029 $98B / 2030 $16B / 2031 $10B / 2032+ $22B. Amount recorded is the $366B total contractual commitment; commitment_type=other because the total spans supply, cloud, lease, equity and capex categories (only $8B is the literal capital-expenditures line; breakdown given here). announcement_date is the 10-Q filing date; effective_date is the as-of balance date. primary filing
NVIDIA · debt_issuance: Verified against two independent primary sources. NVIDIA 10-Q (accession 0001045810-26-000075, period ended Jul 26 2026) states: "In June 2026, we issued an aggregate of $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes." The seven new tranches in the long-term debt schedule (4.250% due 2028 $3.5B; 4.350% due 2029 $3.5B; 4.500% due 2031 $4.0B; 4.750% due 2033 $3.5B; 4.950% due 2036 $4.0B; 5.550% due 2046 $3.0B; 5.625% due 2056 $3.5B) sum to exactly $25.0B and match the prospectus supplement (424B5 dated Jun 15 2026, settlement on or about Jun 18 2026, net proceeds ~$24.9B, consistent with the 10-Q cash-flow debt proceeds of $24.9B). maturity_date left null: seven tranche maturities (2028-2056) cannot be represented by the single-date field; extend the typed fact model for multi-tranche before building the maturity wall from this row. primary filing

Confirmed debt issuance by quarter

Confirmed debt issuance by quarter
entity	period	amount	confirmed events	known at
NVIDIA	2026-04-01 → 2026-06-30	25000000000.00 USD	1	2026-08-26 20:36:00

Exact maturity wall

Unavailable: no analyst-confirmed amount with an exact maturity date is available.

These are raw confirmed fundamentals, not directional signals. Currencies are not converted or combined, and narrative maturity ranges are not assigned fabricated dates.

Pending review

No candidate is awaiting review.

Rejected matches (not evidence)

Rejected matches (not evidence)
entity	candidate type	reviewer	reason
MICROSOFT	debt_refinancing_maturity	claude-automated-review (research-verified; delegated by operator 2026-08-31)	False positive: the matched term "debt maturities" occurs in Microsoft's generic liquidity assertion (existing cash, operations and capital-market access sufficient to fund dividends, share repurchases, debt maturities and capital expenditures for at least 12 months). Verified in the 10-K (accession 0001193125-26-323660): no new issuance, refinancing transaction, or specific maturity event is disclosed in that passage; debt additional-information reports only fair value of long-term debt ($36.5B at Jun 30 2026) with no fiscal-2026 issuance. No typed fact exists to confirm.
NVIDIA	debt_refinancing_maturity	claude-automated-review (research-verified; delegated by operator 2026-08-31)	Disclosure verified real but not a discrete refinancing/maturity event: the match is NVIDIA's aggregate debt maturities schedule as of Jul 26 2026 (due <=1y $1,000M; 1-5y $15,000M; 5-10y $7,500M; >10y $10,000M), a bucketed liability table. The underlying June 2026 $25.0B issuance is captured by the confirmed debt_issuance review on the sibling candidate from the same document. The typed fact model has a single maturity_date and cannot represent maturity buckets; re-emit or re-review once maturity-bucket fact items exist (open work item in current-build-state).

Appendix — Data Coverage

Operational snapshot at report generation time. Run timestamps can post-date the evidence period; a source watermark can also be a scheduled future event date and does not extend the report's evidence window.

Appendix — Data Coverage
collector	last status	rows	last run	source watermark	note
catalyst_markets	ok	12	2026-09-02 17:47:50	2026-09-02 17:47:50	—
cef_nav	ok	6	2026-09-02 21:45:29	2026-09-02 00:00:00	—
chain_anchor	ok	0	2026-09-01 22:20:02	—	head unchanged since last anchor (seq=2)
colo_public_research	ok	3	2026-09-01 23:12:25	2026-03-31 00:00:00	—
earnings_events	ok	0	2026-09-01 23:52:34	2026-10-28 00:00:00	—
edgar_disclosures	ok	11	2026-09-02 00:17:48	2026-09-01 00:00:00	—
edgar_filing_documents	ok	1	2026-09-02 00:57:04	2026-09-01 00:00:00	—
eia930	ok	184	2026-09-02 21:53:36	2026-09-02 21:00:00	—
engine	ok	2179	2026-09-02 20:03:18	2026-09-01 00:00:00	—
equity_ohlcv	ok	667	2026-09-02 16:50:51	2026-09-02 00:00:00	—
gpu_spot	ok	210	2026-09-02 16:30:07	2026-09-02 00:00:00	—
iso_lmp	ok	72	2026-09-02 22:09:27	2026-09-03 06:00:00	partial: ERCOT (best-effort): gridstatus ERCOT DA fetch failed: 403 Client Error: Forbidden for url: https://www.ercot.com/misapp/servlets/IceDocListJsonWS?reportTypeId=12331&_1788386969
korea_exports	ok	0	2026-09-01 21:29:40	2026-08-20 00:00:00	—
natgas	ok	6	2026-09-01 21:06:21	2026-08-25 00:00:00	—
openrouter_activity	ok	100	2026-09-02 20:01:44	2026-09-01 00:00:00	—
policy_events	ok	300	2026-09-02 16:20:37	2026-09-02 00:00:00	—
report	ok	1	2026-09-01 22:10:03	—	—
tsmc_revenue	error	0	2026-09-02 17:08:19	2026-07-01 00:00:00	ConnectionError: Request timed out:

Errored last run: tsmc_revenue

Methodology: the runtime is deterministic end to end. Each chart is labelled bullish, bearish, mixed, or no read for an explicitly named subject and horizon. No domain total, composite, or numeric confidence is calculated. Missing evidence remains unavailable; hits and misses publish at equal prominence. The sha256 of this issue's final markdown is stored append-only in aib_gold.report_issues for future external anchoring.

Published 2026-09-02 22:10 UTC · content hash 68b296062ffa53d3ad9152bb0d503ea747d2e3d76e93f9e96520cac90adc2789 · context hash 65d3992af410f27e76b76a6fce60a3614f7b7ec9dbf3837439b446a61fec8d10 · narrative not included