Daily Alpha · Substack
· Post-Market Alpha · by Buzzberg Research
SanDisk’s contract structure came with both a structural bull case and a cycle caveat; another newsletter framed compute as a prospective financial asset.
Themes on this desk
Contracted memory
Floor-priced agreements strengthen visibility, but the contracts have not yet survived a downturn.
Compute futures
A public excerpt frames compute as a prospective futures market without exposing contract mechanics.
SanDisk's contract floor totals $93.9 billion
Asymmetrical Bets reports 10 agreements across eight customers with $93.9 billion of minimum revenue at floor prices and roughly four-year average terms.
The contract book is the clearest evidence for lower NAND cyclicality, though the author notes it has not faced a downturn.
Watch Customer guarantees, floor-price enforcement and contract performance through the next downcycle.
Source →Compute is being framed as a tradable asset
Chamath Palihapitiya's public excerpt says AI compute is getting its first futures contract and quotes Larry Fink anticipating institutional demand.
The excerpt signals financialization interest but does not expose contract design, liquidity or counterparty details.
Watch Contract specifications, exchange approval, liquidity and settlement benchmarks.
Source →