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Research

Deep research on the technologies reshaping the world, and the companies behind them. Written for technologists and investors making sense of the biggest industrial shift in a generation. AI infrastructure, chips, memory, energy, networking, robotics, quantum, and space.

12 reports — filtered

Quantinuum: The Fault-Tolerant Spinout Behind Quantum's Largest IPO
IPO Analysis QNT May 27, 2026

Quantinuum: The Fault-Tolerant Spinout Behind Quantum's Largest IPO

Honeywell's trapped-ion spinout is targeting a $12.7 billion valuation at IPO — on $31 million in revenue — underpinned by world-record gate fidelity, a $677 million cash fortress…

IPO Analysis SPCX May 21, 2026

SpaceX S-1: The Infrastructure IPO Behind Every Layer of the AI-Space Stack

SpaceX's S-1 reveals a $18.7B revenue conglomerate spanning rocket launches, the world's largest LEO broadband network, and a newly acquired frontier AI platform - targeting the l…

Lime IPO: The Dominant Micromobility Platform Navigating a Billion-Dollar Debt Wall to Market
IPO Analysis LIME May 9, 2026

Lime IPO: The Dominant Micromobility Platform Navigating a Billion-Dollar Debt Wall to Market

The world's largest shared e-scooter and e-bike operator files to go public on Nasdaq — bringing three years of revenue momentum, positive free cash flow, and a $683 million conve…

Fervo Energy: Drilling Into America's Firm Power Gap With Enhanced Geothermal
IPO Analysis FRVO May 5, 2026

Fervo Energy: Drilling Into America's Firm Power Gap With Enhanced Geothermal

Fervo is targeting a $6.5 billion IPO valuation with 500 MW under construction and $7.2 billion in contracted PPA backlog — a pre-revenue bet that its oil-and-gas-derived EGS tech…

Pershing Square Inc: The Fee Machine Behind Ackman's Permanent Capital Franchise
IPO Analysis PS Apr 29, 2026

Pershing Square Inc: The Fee Machine Behind Ackman's Permanent Capital Franchise

Pershing Square Inc. (NYSE: PS) went public on April 29, 2026 via a novel combined listing structure in which its shares were distributed free to investors in the simultaneously l…

Liftoff Mobile IPO: The AI Engine Underneath the App Economy
IPO Analysis LFTO Apr 20, 2026

Liftoff Mobile IPO: The AI Engine Underneath the App Economy

Backed by Blackstone and powering over 140,000 apps globally, Liftoff Mobile is the largest independent mobile performance advertising platform — filing twice for a Nasdaq listing…

HawkEye 360 IPO: The First Space-Based Signals Intelligence Company Goes Public
IPO Analysis HAWK Apr 19, 2026

HawkEye 360 IPO: The First Space-Based Signals Intelligence Company Goes Public

HawkEye 360 is seeking a NYSE listing under the ticker HAWK, bringing the first commercial space-based signals intelligence company to public markets at a moment when global defen…

X-Energy IPO: A Government-Funded R&D Startup Betting on a Trillion-Dollar Commercial Nuclear Transition
IPO Analysis XE Apr 19, 2026

X-Energy IPO: A Government-Funded R&D Startup Betting on a Trillion-Dollar Commercial Nuclear Transition

X-energy is raising ~$750M in its Nasdaq IPO to fund the transition from an ARDP-dependent engineering services firm into a capital-light IP licensor and TRISO-X fuel fabricator —…

Cerebras Systems IPO: The Wafer-Scale Bet on AI Inference Speed
IPO Analysis CBRS Apr 19, 2026

Cerebras Systems IPO: The Wafer-Scale Bet on AI Inference Speed

Armed with the world's first commercialized wafer-scale processor, a $20B+ OpenAI supply agreement, and revenue that grew 20x in three years, Cerebras is seeking a Nasdaq listing …

IPO Analysis KLAR Sep 10, 2025

Klarna IPO: Understanding the Business of BNPL

In this deep dive, we look at Klarna’s IPO and whether its global BNPL scale and push into ads and banking justify the ~$13–14B valuation.

IPO Analysis FIG Jul 21, 2025

Figma IPO: Unpacking the S-1

This deep dive breaks down, analyzing its growth, financials, product strategy, and why it’s one of the most anticipated IPOs of 2025.

The Power Delivery GapReport
Research

The Power Delivery Gap

The interconnection queue holds more than 1,100 GW of power. The grid delivers renewables quickly and firm gas slowly, if at all. A model of what the US grid can actually deliver, and when, built on MLQ's queue and generator data.

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