CORRECTIONS & VERSION HISTORY
Views can change. The record should remain clear.
We explain material corrections and preserve the dates of the underlying evidence.
September 5, 2026 editorial revision
The launch series was revised to clarify the difference between approximate debt descriptions and tabular balances, correct the IREN quarterly-filing label, distinguish task demand from equipment requirements, and state the conditions behind a refinancing-gap example.
We also tightened the use of convexity language and made the assumptions behind fixed-cash-flow guarantee comparisons explicit. The original research cutoff remains August 30, 2026 for the three launch studies.
New research
Who Captures the Returns from AI? adds a framework for productivity, pricing, profit allocation, and capital returns. Its source review is dated September 5, 2026.
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