THREE DOUGLAS RESEARCH
Independent Analysis | Three Douglas, LLC
Independent Equity Research

Understand what changed in the AI investment thesis.

Independent research on AI spending, compute delivery, and power economics. We maintain the assumptions, valuations, and source evidence behind our coverage, so you can see what changed this week and what still needs to be proved.

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$99.95 per year, founding rate locked. No payment today. First member mailing: mid-September 2026.

This week in the evidence

Excerpt · The weekly change brief
What changed. Broadcom, Sep 2: AI semiconductor revenue of $16.7 billion against the company's own $16.0 billion guide, up 221 percent year over year. Fiscal 2027 AI outlook raised to approximately $115 billion on the call. Source: company release and call transcript.
Condition moved: the token demand cluster (TW-1, NV-2, TT-1) reads IMPROVING on supplier-side evidence, flagged as an indirect proxy.
Corrections this week: three, dated on their pages, including our own same-night misread of the fiscal 2027 guidance. The corrections section runs every week, especially when it is about us.

From the weekly change brief. Members receive it in full.

What this is, and who it is for

Every week: what changed in the evidence, what did not, which of our 29 published break conditions moved, and what we got wrong. For investors with real AI and power exposure who need the assumptions maintained, not re-argued from scratch. Coverage: eighteen names across compute, power, and the application layer.

Built for your desk and your agents: every claim carries its source, its status, and its revision history, in prose for your analysts and machine-readable for the AI tools your team runs (team plans).

Judge the depth before you pay

The note below is a complete member edition, published free so you can judge the depth before you pay. Nothing is trimmed: the numbers, the scenarios, and the disclosures all run at full length.

August 30, 2026 · Complete member edition, published free

NVIDIA's $96 Billion Quarter: What the Print Settled, and What It Didn't

A 106% growth quarter, a supply-capped 70% guide, the backstop's actual terms, and a $500 billion answer to the circularity critique. Plus the negatives the bulls should not skip.

Who writes this, and how

One accountable publisher signs this work, and the author block on every member edition carries the publisher's name and background. Research production uses AI systems for source ingestion, reconciliation, and drafting; every published conclusion has a named human owner. The correction record is public, dated on the pages where the errors ran, and it includes our own mistakes before anyone else's.

Membership

The founding rate is $99.95 per year, locked for founding members, and it closes September 29, 2026. Members receive the weekly change brief, full coverage notes, quarterly outlooks, and thematic frameworks as they publish.

First member mailing: mid-September 2026. If the first 30 days after your first payment do not earn the price, we refund it.

No payment today; founding rate locked. Membership details

The proof, one click away

  • The Record: the whole book with the losers printed first, worst position −42.3% above the +17.1% YTD book.
  • The Conditions: 29 published break conditions on a six-state board, each stated before the evidence arrives.
  • The February call: a dated call graded in public against what actually happened.
  • How we compare: what we cost against the alternatives, including where they beat us.