GRO MONEY NEWS - ⚡ NVIDIA CAN’T PRINT MEGAWATTS.

Nvidia reports Wednesday, but Friday may have already given us the more important AI signal: Nvidia took a minority stake in Cloverleaf Infrastructure, a company developing powered sites for data centers, only days after another $1.5 billion infrastructure investment. The chip company is moving upstream because AI demand does not become revenue without land, power, transmission, cooling, permits, and capital. 🏗️⚡🧠

Meanwhile, the 30 year Treasury is sitting around 5.25 percent, Asia opened cautiously, and Nvidia is heading into Wednesday with expectations for roughly $92 billion of quarterly revenue. The market is not terrified, but it is increasingly forcing expensive assets to prove they deserve their valuations. 💰📊

🏠 Housing is now a buyer’s market across most major U.S. metros tracked by Redfin, with sellers outnumbering buyers by roughly 51 percent nationally. 🏢 CRE credit is available, but July CMBS delinquencies reached 7.86 percent, creating a very different opportunity for private credit and rescue capital.

🌎 Sovereign capital is also moving deeper into the AI stack. Singapore’s GIC and Macquarie are funding a purpose built data center platform with Anthropic as the anchor tenant, which is a far more sophisticated institutional thesis than simply buying “AI exposure.”

🏦 M&A remains aggressive. Paramount begins talks today over regulatory concessions affecting its planned $81 billion Warner Bros. Discovery acquisition, KKR backed capital agreed Friday to acquire Australia’s Steadfast in a roughly $5.5 billion transaction, and Goldman Sachs is buying the LCN sale leaseback platform for up to $410 million.

💵 Stablecoins are moving from political argument into regulated infrastructure as Treasury advances implementation of the GENIUS Act. The next money will not simply be made speculating on tokens; it will be made owning and operating the compliant rails through which digital money moves.

🔥 Today’s GRO Money News covers markets, rates, housing, CRE, AI infrastructure, sovereign capital, stablecoins, tax strategy, M&A, and what actually makes an infrastructure deal bankable. If you know a developer, investor, family office, lender, or banker who needs a sharper view of where capital is moving, share this with them and tag them below.

Until tomorrow, be the best human you can be.
~ Teresa Grobecker

Listen to GRO MONEY NEWS wherever you follow the show. Listen to GRO MONEY NEWS

Duration: 17m
Broadcast on: 24 Aug 2026
Audio Format: other

In Vidya can't print megawatts, the chip trade reports Wednesday, the Fed speaks Friday and the 30-year Treasury is charging cover at the door. Good morning. This is Grow Money News for Monday, August 24, 2026, and this week has three people in charge of your portfolio. In Vidya, Federal Reserve Chair Kevin Warsh, and whoever is unfortunate enough to be selling 30-year Treasury bonds at yields above 5 percent. Asia is already telling us not to confuse calm with confidence. Markets opened Monday hesitant, oil backed off after last week's surge, and the technology complex is basically standing outside in Vidya's earnings call refreshing its phone. Meanwhile, long-duration bond yields remain high enough to make every real estate developer, data center sponsor, CFO, and private equity model quietly reopen the interest rate assumptions they were hoping nobody would question. This episode is brought to you by Grow Group, which has $5 billion of equity investment capacity for qualified projects in 2026. We are actively looking for master builders in major MSA territories with financing options that can reach up to 100 percent for qualified developments, data centers, and solar projects. Apparently, capital is still available. It has simply developed standards, which, frankly, is probably healthy for everyone involved. Here's the setup. In Vidya reports Wednesday. The Fed's preferred inflation data also lands Wednesday. Warsh speaks at Jackson Hole Friday. Iran sanctions are back in the oil equation. Trade tensions with Canada are escalating. Housing is increasingly a buyer's market. And in Vidya just made one of the most important AI investments of the summer because it was not an investment in another chatbot. It invested in power infrastructure. That last point matters more than almost everything else we are discussing today. Asia opens cautious, not broken. Early Monday trading in Asia is hesitant. Japan's Nikki was roughly flat after losing almost 4% last week. South Korean shares were down roughly 2% in the early Reuters snapshot. Taiwan was little changed. Chinese blue chips were lower. And the broader MSCI Asia Pacific index outside Japan was down just under 1%. That is not a liquidation event. It is a market refusing to make a large technology bet before NVIDIA tells everyone whether the AI capital expenditure cycle is still accelerating fast enough to justify the expectations embedded in valuations. Analysts are looking for NVIDIA quarterly revenue around $92 billion. Think about that number for a moment because the market has gone from asking whether AI is commercially real to asking whether $90 billion of quarterly revenue is sufficiently impressive. The more interesting issue is no longer demand for chips. It is whether the physical infrastructure underneath that demand can be delivered quickly enough at an acceptable cost of capital with power, permits, cooling, transmission, land, and long duration customers attached. The bond market is making that question materially harder. The 10-year treasury was around 4.71% in early Monday trading while the 30-year was around 5.25% not far from its recent 19-year high. That is the number I would watch even before NVIDIA. Equity markets can tell themselves a very attractive growth story. Debt markets eventually send an invoice. Friday looked better than the week actually was. Wall Street finished Friday higher. The S&P 500 gained about 4/10 of 1%. The Dow rose 1%. The Nasdaq added 4/10 and the Russell 2000 gained almost 1%. Now zoom out. For the week, the S&P lost 1.4%, the Dow lost 8/10, the Nasdaq lost 2.1%, and the Russell lost 1.6%. That is the real message. Friday repaired some cosmetic damage, but it did not reverse the re-pricing that occurred as long-term yields rose and expensive technology names came under pressure. The VIX finished around 15.1, and the CNN fear and greed index sat around 55, still in greed territory. That combination is interesting because investors are not terrified. They are simply getting more discriminating. That is a much more dangerous environment for mediocre investments. Panic makes everything cheap together. Discrimination forces each asset to prove that its cash flow deserves its valuation. The hottest thing, Friday was not a stock move. NVIDIA took a minority investment in Cloverleaf Infrastructure on Friday. Cloverleaf develops powered sites for data centers by working with utilities, energy providers, investors, and infrastructure partners. NVIDIA is now helping push that capacity forward. Financial terms were not disclosed. What matters is the strategy. Only days earlier, NVIDIA committed roughly $1.5 billion to soft bank-owned SB Energy. NVIDIA has also been putting capital behind other parts of the power and data center ecosystem. That means the world's dominant AI chip company is moving upstream. It is not merely selling processors to whoever happens to build a data center. It is putting capital behind the physical conditions required for those chips to be deployed. There is a reason. You can have a trillion dollars of theoretical AI demand and still have zero usable compute if the site has no power. The AI investment thesis is therefore changing. Chips remain important, but powered land, generation, substations, transmission, cooling, fiber, development rights, and long-term offtake are moving closer to the center of the capital stack. This is exactly why I keep saying power is the new prime real estate. In the next phase of AI infrastructure, the scarce asset is not dirt. It is a financable megawatt attached to dirt. What makes this bankable? There is another institutional structure worth keeping on the desk. Anthropic, Macquarie Asset Management, and Singapore's GIC recently established Theseus Infrastructure, which will develop and lease purpose-built data center capacity to anthropic under long-term agreements. Macquarie managed funds and GIC are expected to own the platform and provide the majority of project equity. Anthropic provides the anchor demand. That is what a real capital stack looks like. You have institutional equity. You have an identifiable long-duration customer. You have purpose-built infrastructure. You have a defined operating requirement. Most importantly, you have somebody willing to contract for the economic output of the asset. Family offices should pay attention to the distinction. AI data center is not an underwriting thesis. Power plus land, plus entitlement, plus credit quality, plus offtake, plus completion, certainty, plus a credible takeout is an underwriting thesis. If somebody sends you a beautiful data center deck and cannot answer those questions, the deck is not an investment memorandum. It is graphic design. This week's main event is Wednesday. Monday's US economic calendar is relatively quiet, but that changes quickly. Tuesday brings home price data, new home sales, consumer confidence, and manufacturing information. Those numbers should tell us whether high borrowing costs are finally forcing more meaningful adjustment in housing and consumer demand. Wednesday is the Monster Day. We get the Fed's preferred PCE inflation data, durable goods, revised second quarter GDP, and NVIDIA earnings. Thursday brings weekly jobless claims, trade data, and inventories. Friday brings revised consumer sentiment, the Chicago business barometer, and Kevin Worsch's Jackson Hole address. Markets are putting roughly a 40% probability on a September Fed hike and are effectively pricing a move by December. That makes Wednesday's inflation number and Friday's Worsch language critical, because the bond market has already tightened financial conditions without waiting for the Fed to do it. The market's problem is straightforward. Growth is slowing in some places, inflation remains uncomfortable, long bond yields are elevated, and oil is once again being dictated partly by geopolitics. That is not stagflation yet. It is, however, the kind of setup that murders lazy underwriting. Employment is softer than the unemployment rate makes it look.

Transcription truncated.

Until tomorrow, be the best human you can be.
~ Teresa Grobecker

Listen to GRO MONEY NEWS wherever you follow the show. Listen to GRO MONEY NEWS