David Mort

General Partner @PropelVC | Backing the builders of the new economy | [email protected]

[Gavin Baker @GavinSBaker]

The governor-elect of Texas, Gina Hinojosa, has explicitly said that all currently permitted datacenters in Texas will be allowed to finish construction. This essentially covers all of the 2027 and likely well into 2028.

She is going to pass laws that ensure that all *newly* permitted datacenters going forward for delivery in 2028/2029 will pay taxes, commit to no increase in power prices for consumers, don’t impact water availability for people, be constructed with union labor and give “Texans a seat at the table.”

Sounds reasonable. She doesn’t want to lose a lot of good blue collar jobs and property taxes for small towns in rural Texas.

Datacenter commentary starts at 6:30 in this interview.

Also attaching her official campaign position from her website in the next post.

Sidenote: After watching a bunch of her speeches and interviews, I do think she is a political talent and probably has a future in national politics.

https://t.co/shCGNcdu9d

[David Mort @Davidmort]

@Jason AI factories

[David Mort @Davidmort]

@AlexLWitt Congrats Alex, looking forward to what you can accomplish at Tether.

[David Mort @Davidmort]

The @Brewers don’t care who is pitching against them

[FOX Sports @FOXSports]

The crew unanimously picks the Rays for Game 3!
@AROD: Rays 7-4
@davidortiz: Rays 6-3
@derekjeter: Rays 6-4
@MLBONFOX

[David Mort @Davidmort]

What’s the score of the @Brewers game?

[Bleacher Report @BleacherReport]

What was Giannis thinking about? 🤔

[David Mort @Davidmort]

New investment thesis: only back founders who name their companies as if they’ve already won the market.

True or false?

[David Mort @Davidmort]

AI requires a lot of dollars

[zerohedge @zerohedge]

Meta added $76BN in off-balance sheet committments in Q3 (mostly $68BN in leases) pushing total in off balance sheet to $747 billion.

[Rittenhouse Research @RHouseResearch]

NVIDIA's consensus revenue estimate for 2027 is roughly $700 billion. Vera Rubin runs ~$40B per GW. SpaceX is "exclusive to NVIDIA", per Elon.

So when Elon claims SpaceX is going to build 20GW of capacity next year, he's suggesting SpaceX will spend $800 billion on NVIDIA chips.. or greater than 100% of NVIDIA's total revenue, lol.

$SPCX $NVDA

[David Mort @Davidmort]

🤯🤯🤯

[Herbert Ong @herbertong]

Elon Musk: "It is absolutely insane to be deploying, providing the power and all of the electrical equipment, the cooling, the batteries, the networking, and everything else that's needed to turn on 220,000 GB300s a month.

But that is actually what we're doing right now."

SpaceX is "highly confident" of 13 GW of compute by end of 2027, and 23 GW is possible.

It also casts its own turbine blades to skip a 12 to 18 month wait.

$SPCX

[David Mort @Davidmort]

@rexsalisbury Could you introduce me to some 🫡

[*Walter Bloomberg @DeItaone]

$CRWV - HSBC WARNS COREWEAVE IS SPENDING BILLIONS TO DESTROY VALUE

HSBC maintains its Reduce rating on CoreWeave, with a $39 price target implying 36% downside.

The bank estimates CoreWeave's 2026–2030 return on invested capital at 8.9%, below its borrowing costs.

With over $51 billion in debt and slowing AI revenue growth, HSBC warns further investment could destroy shareholder value.

[David Mort @Davidmort]

@pythianism What about $500M valuations on seed rounds?

[David Mort @Davidmort]

@GavinSBaker Why near peak external financing? Is it that inference revenue starts covering marginal capex, or that debt/SPV appetite is topping out and the buildout slows to what cash flow can fund?

[David Mort @Davidmort]

Mill Valley - the buyer wanted it that badly just to rent it out?

[David Mort @Davidmort]

@joeminocqua And yet that entire series was incredibly close…

[David Mort @Davidmort]

@nic_carter Yeah, that’s fair

[David Mort @Davidmort]

@AlexLWitt Are institutions adopting anything other than stablecoins in this decade?

[David Mort @Davidmort]

@paigefinnn https://t.co/L2kz6fPEX2

https://t.co/K20CzzNlbN

https://t.co/lHM1x8nyYN

[David Mort @Davidmort]

@tomi_roggio This is fake news, or someone fed these founders bad info. Seeing $4-5m rounds with only angels out of YC.

[David Mort @Davidmort]

@annarchyy At what entry price?