Insights
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Perspective.
SMAM Insights brings together our perspectives on global markets, strategic transformation, capital and the forces shaping businesses and investment.
From weekly market observations to strategic analysis and company news, we share the developments, ideas and structural trends that matter to entrepreneurs, investors and decision-makers.
Independent thinking for a complex world.
Selected Perspectives
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A growing body of independent thinking, organised for precise and efficient research.
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Policy, Profits and the Price of Capital
Central banks, Big Tech earnings, US GDP and PCE inflation converge in one pivotal week. As energy risk keeps bond yields elevated,…
Capital & Markets
The Economics of Tokenisation Begin After Issuance
The European Central Bank is advancing the infrastructure supporting tokenised financial markets. With Pontes now operational and Appia progressing, SMAM examines how…
Start the Week
The AI Premium Meets the Cost of Capital
The AI investment cycle is entering a more demanding phase. With Treasury yields above 5%, inflation reaccelerating and technology valuations correcting, investors…
Strategic Perspectives
The Next AI Advantage Will Be Organisational, Not Computational
New European evidence shows rapid AI adoption but much shallower integration into core business processes. As access to models and compute broadens,…
Capital & Markets
AI Infrastructure Is Becoming Sovereign Industrial Capacity
The AI race is moving beyond models and semiconductors. Japan’s latest infrastructure initiative shows why power, compute, capital and execution are converging…
Strategic Perspectives
Grid Capacity Is Becoming a Strategic Asset
Electricity generation is no longer the only constraint on capital-intensive growth. As connection queues lengthen and demand accelerates, access to grid capacity…
Strategic Perspectives
AI Is Becoming a Capital-Structure Story
Artificial intelligence is moving from a software-led investment narrative to a capital-intensive infrastructure cycle. As hyperscalers, asset managers and lenders build new…
Strategic Perspectives
The Next Data Centre Constraint Is Infrastructure
AI is driving unprecedented data-centre demand, but power, grid access, cooling, water, resilience and capital architecture increasingly determine which projects can be…
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SMAM works alongside entrepreneurs, CEOs, shareholders and investors navigating strategic transformation, capital formation and international complexity.