I have had the new Dell XPS 14 for a few months now. Let’s get the big statement out of the way first: this is the first Windows laptop I’ve used in a long time that feels like they cared about the user experience. Saying a Dell feels as nice and premium as a Mac…

The RTX Spark is Microsoft and Nvidia’s joint statement about what the PC needs to become, and who gets to help define that. Microsoft Build, running this week in San Francisco, made the software half of that argument explicit. The Machine Behind the Agent The chip, formerly codenamed N1X, combines an Arm-based CPU, a Blackwell…

This report continues our work on neoclouds, although we are coming at the question from a different angle. The last report focused on backlog quality, monetizable MW, customer concentration, contract duration, financing structure, and the way hyperscaler demand was turning into external infrastructure commitments. That still feels like the right starting point. The next step…

Cristiano Amon called 2026 the Year of the Agent. The label is directionally right, but it suggests a milestone that has been reached rather than one that is still being built toward. What Computex actually showed is a company positioning itself for a transition that is only beginning, one that will take years to fully…

Microsoft Build 2026 was the week Windows stopped trying to win on the spec sheet and started trying to win on the thing that makes a computer worth using. For years the Windows answer to the Mac was some version of “we can match that.” A faster chip here, a borrowed feature there. This was…

Note: This report builds on our April framework separating the different business models emerging across neoclouds, GPU clouds, and power/infrastructure landlords. Later this week, we will publish a more technical SWOT across hyperscalers and neoclouds, focused on how competitive capabilities map to AI workloads, cloud architecture, and broader CSP trends. Neoclouds and the Three Business…