Companies and governments around the world are now moving to use SMRs for commercial electricity generation.

There are parallels with AI – companies that “front-ran” AI are big winners now. These include NVIDIA, Alphabet, Microsoft, and Tesla.

The Trump administration has made it clear that it plans to deregulate banking. The US government has spoken about reducing bank regulatory capital, reducing bank liquidity requirements, and making bank stress tests less difficult to pass.

AI is going to result in much more software. We think about the implications of this for companies, and about what companies should be doing about this now.

China is finalizing its next Five-Year Plan – for 2026 to 2030. This decides what China will do and become in the medium term. As the world’s second largest economy, and one of the world’s most important technological and military actors, this is important for governments and companies around the world.

We have seen two large private credit market defaults in the last few weeks. There are some parallels to the 2008 crisis – where problems in the credit market turned into problems for the global economy. We work on figuring out how this might play out.

Data centers need large-scale and long-term funding. Securitization has moved from niche to mainstream since 2018 to fund for hyperscalers and colocation operators.

AI agents can be a useful tool in identifying risks and spotting risk mitigants – that give an investment committee an advantage over the competition.