# Market Thesis Research Bundle

Question: Given AI capex intensity, will a major semiconductor, networking, or cooling supplier disclose longer customer terms, larger prepayments, or other financing accommodations to keep hyperscaler orders moving?

What this bundle is: a reasoning and monitoring scaffold. It organizes public evidence into observations, claims, uncertainty branches, thresholds, and a watch plan.

What this bundle is not: primary evidence, live market data, trade advice, or a substitute for official, live, or current web sources.

Core tension: Given AI capex intensity, will a major semiconductor, networking, or cooling supplier disclose longer customer terms, larger prepayments, or other financing accommodations to keep hyperscaler orders moving?

Current inference to verify: {'status': 'current_inference_to_verify', 'summary': 'Public primary-source disclosures through the cutoff point more toward supplier-demand discipline than broad customer financing: the visible pattern is short payment terms, customer-paid secure-supply or capacity fees, refundable deposits, and advance-payment or guarantee structures, not explicit extension of hyperscaler payment terms.', 'confidence': 'medium', 'why_this_is_only_an_inference': 'Broad SEC filings and annual reports can omit bespoke bilateral terms, so the absence of explicit longer-term disclosure is not proof that no customer financing accommodations exist.'} Treat this as a hypothesis that must be refreshed against live official sources, not as a signal.

How to use: read `source_priority.json` first, refresh sources in `live_verification_plan.json`, then use `fact_inference_split.json`, `thresholds.json`, and `watch_schedule.json` to decide what changed. Do not infer buy/sell/hold, position sizing, execution, or asset-price direction from this artifact.