Research paper / Overview
Debt-financed AI expansion
A company-finance manuscript examining AI capital expenditure, lease commitments, credit risk and the assumptions behind shareholder valuation.
Read overviewPufferfish Research Group / AI
Pufferfish Artificial Intelligence Research Group
Research on artificial intelligence, with current public work examining its infrastructure, financing, technology adoption and wider systems.
Active researchExplore this group’s work
Research direction
Current research
- AI infrastructure & capital
- Technology & adoption
- AI & global systems
Public research
Explore the research overviews.
3 research overviews
Research paper / Overview
The adoption-impairment paradox
A technology manuscript exploring the tension between AI adoption, custom-chip substitution and the economic life of installed hardware.
Read overviewResearch paper / Overview
Oil, Hormuz & the price of AI capital
A political-economy manuscript tracing how oil-risk scenarios, inflation, monetary policy and competition for capital may affect AI financing.
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Explore the questions.
Connected perspectives.
Research series
Oracle & the AI buildout
A connected study of AI infrastructure through financing, technology adoption and geopolitical constraints, using Oracle as a shared case.
Explore the seriesCommercial report / Forthcoming
Oracle short report
A planned commercial report examining the investment thesis, valuation scenarios and risks surrounding Oracle’s AI infrastructure expansion.
Release pending. Purchases are not open.
View report scope & statusAcross the research group.
Pufferfish Research GroupEAI / Developing direction
Pufferfish Embodied Artificial Intelligence Research Group
A developing research direction for studying how artificial intelligence can perceive, act and learn through physical systems. Its proposed scope includes robotics and interaction with the physical world.
SAI / Developing direction
Pufferfish Symbiotic Artificial Intelligence Research Group
A developing research direction for studying how people and intelligent systems can work together. Its proposed scope includes human–AI interaction, shared decision-making and the design of collaborative systems.