AI infrastructure gets underwritten like leveraged credit | Tokenization, stablecoins, and agent wallets converge on one settlement rail | The Fed turns hawkish as the BoJ hits a 31-year high | PE exits
A bear case for the AI-infrastructure trade | Tokenized deposits become the banks' answer to stablecoins | Single-asset continuation vehicles become the exit LPs actually want | A higher-for-longer, stagflation-shaped regime is
AI infrastructure financing is now a public-market asset class | The AI ROI gap gets a number | Tokenization joins public-market plumbing | Banks now treat stablecoin rails as 24/7 revenue | Wrapper
Anthropic now leads institutional finance distribution | Tokenized settlement rails go operational in Europe and APAC | DPI displaces IRR as the binding LP discipline | AI-attributed headcount cuts hit the headlines 1.
The mega-IPO pipeline opens and resets private-mark discipline | Compute consolidates into a financeable asset class | GPs publicly redesign vehicles around the distributions-to-paid-in (DPI) problem | Tokenized institutional plumbing moves onshore with