$UMAC Unusual Machines appears on planning to use OSC capital to parallelize their 100,000 motor / month automated line that they plan on having online by year end (4Q26). Last week, CFO Brian Hoff suggested UMAC seeks 6-8 additional lines which could produce 8-10M motors per year with extra flux capacity if needed (10M motors / 7 lines = 1.4M per line / 12 months = ~119,000 motors per month per line). Brian also suggested these additional 6-8 production lines would fulfill Group 2 and Group 3 drones - which are larger in size - therefore potentially dragging ASP (average selling price) higher on components. Not financial advice - but I took a swing at modeling out what the Defense ONLY portion of Unusual Machines' motor business could look like with an OSC capital infusion. By Q3 2028, this model assumes UMAC has 8 automated motor equipment lines up and running, kicking 9.6M motors per year at an ASP of $57. We learned from Allan that in 2Q26 UMAC made and shipped just under 50,000 motors in the quarter. Further, 13% of 2Q26 revenue was attributable to their largest product. Assuming that's motors, you arrive at an ASP of ~$43.47 ((0.13 x $16.7M) / 50,000). That's why this model starts at ~ $43 ASP in 2Q26 before being dragged up ~33% in totality by the end of 3Q28 on the assumption of additional lines being used for Group 2 and 3 drones. To state the obvious, there's a lot of guesswork here. On 9.6M motors at a $57 ASP, you land at ~$550M run rate on motors alone in 3Q28. Gross Margins are assumed at 38% throughout - the midpoint between 2Q26's ~35% and UMAC's 40% LT target. That yields ~$208M of annualized gross profit in 3Q28. CapEx for the tangible, physical equipment of each line is estimated to be ~$4M, with the rest (overhead, salaries, raw materials) assumed to be financed by the OSC. The model is far from perfect - but Cumulative Gross Profit less CapEx is treated as cash generation and added back to implied Enterprise Value along with 2Q26 Net Cash. OpEx as a % of Revenue is assumed to be ~19% for this production line - a majority of UMAC's overhead runs through COGS (which improves as employees become more efficient). D&A assumed at 1% of revenue. That leaves us with an implied 20% EBITDA Margin on the motor business (38% Gross Margin - 19% OpEx as a % of revenue + 1% D&A add back). Applying an assumed 25x EV/EBITDA multiple on the implied 3Q28E EBITDA (with 8 automated lines up and running) spits ~$2.7B in implied Enterprise Value. 25x in my view is justified as by this time UMAC will be growing very fast - with drone delivery and potentially robotics as additional growth tailwinds. After adding back Net Cash, the Cumulative Gross Profit less Capex and subtracting Working Capital OpEx (estimated a 1x annualized revenue) leaves ~$2.67B in implied equity value in the Defense Motor business alone. That suggests UMAC's Defense ONLY Motor business may be worth $38.30/share. Of course - there are SO many assumptions going into this (plus the $ figure isn't discounted) and the math almost certainly doesn't reconcile 100%. But - I think this analysis is directionally correct. In my opinion, the drone industry is at the beginning of the S-Curve and Unusual Machines is ready to ride it with the help of some OSC capital.

Unusual Machines Receives $16.9 Million Purchase Order from Powerus for American-Made Drone Components $UMAC

Data centers & #AI have a massive PR problem🛑 Memphis, Tennessee is the latest battleground. The City Council just passed a 135-day PAUSE on new data center development. The catch? Locals wanted a 12–18-month moratorium - which City Council struck down. Catch all this and more in under 6 minutes @Rebellionaire 👇

MIT Federal Credit Union Expands Partnership with Upstart into Indirect Auto Lending $UPST

$SPCX Let's say SpaceX truly has ~15GW online end of 2027. Pricing: External "slightly above high end of $30-$50 per Watt" - call it $52 per Watt per Year on external compute today, ~$55 per Watt YE27 (strong demand, compute constrained). External compute is ~50% of the mix, other half used for Internal which let's assume monetizes at $25.0 per Watt per Year as Grok / Grok Bot scale by YE27 (Still less than half the return of selling external compute). That's a blended ~$40.0 per Watt per Year at YE27 (($55 x 0.5) + ($25 x 0.5)). In other words- $40B in revenue per GW. 15 GW x $40B per GW = $600B annual revenue. 🤷‍♂️ the math works, don't even ask me about 20GW!

How much demand for AI hardware / optics / networking does SpaceX $SPCX create alone if they bring online 13 GW of compute next year? Elon is highly confident of this. OpenAI and Anthropic are expected to add 14 to 15 GW each in 2027. SpaceX right up there. Demand is insane.

MUSK: Both SpaceX and Tesla have formed special committees to discuss the idea of a merger $SPCX $TSLA

everything is pointing towards Upstart Bank opening

Upstart $UPST 8-K: Up to $200M Revolver to fund initial capitalization of Upstart Bank. ~$200M or so will be used to open Upstart Bank, purchase loans from Upstart Network, who will then take that $ and pay off the revolver. Priced at SOFR + 300bps. @paulxgu ir.upstart.com/static-files/…

".. At the moment, we have more compute capacity than we have demand" - this is objectively not true. Unless of course AI is at large engaging in an industry-wide psyop (including in private settings & conferences). The concerns surrounding AI returns not justifying the level of CapEx is more reasonable and balanced, although I also disagree with that.