The Edition Archive
Every full edition of the three Closelook newsletters, preserved as published — boards, visuals and the complete read. New editions publish first on Substack; the archive is a C+ subscriber surface.
- The Rotation Got Its Receipts Last week the flow deltas said the baton was passing — this week IBM, the cyber records and our own indices printed the proof
- "Bought Down the Stack" "The washout passed its test — and the buying went exactly where the AI dollar itself is migrating: down the constraint chain, from the architect to memory, packaging and power."
- "Where the AI Dollar Actually Lands" "Of every $100 the hyperscalers spend, about $35 reaches Asia — and inside the AI rack, memory and compute split three-quarters of the bill. This week the market listed direct access to the memory side."
- An International Rally in Name Only Six of twenty-six regions beat the benchmark — the ex-US bull is a concentrated AI-chip bet, not broad health
- The Flow Has Already Rotated Absolute flow still crowns the semis — its rate of change says opex and applications are taking the baton
- The Split Inside Tech Software ran, semis wrecked — and the earnings bar rises into a midterm summer
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