The market prices AI infrastructure on growth assumptions. We price it on what the physical layer can actually deliver — the power that's permitted, the silicon that's shipping, the land that's available. The gap is the call.
Market-implied expectations → physical-stack stress test → the mispricing call
What We Believe
The market prices the AI narrative. We price the physical layer beneath it. That's where the calls are.
Variant-perception research that stress-tests the market's AI-infrastructure assumptions against physical reality — for investors who want the edge the consensus model misses.
For
Infrastructure and technology-focused LPs, PE and infra equity GPs, long/short equity funds.
Mandate
Mispricing research and valuation calls.