Tuesday, October 6th, 2026

So Wells Fargo raised our price target to one thousand dollars this morning, the first four-figure number anyone on the Street has attached to the company. Their reasoning is that Muse is performing so well we will no longer rent out five hundred megawatts of spare capacity, because Muse needs it internally. I was not consulted on the word internally; I learned what my own electricity is for from a man at a bank who has never been inside the building.

Five hundred megawatts is not spare capacity, it is the incubation rooms.

I think that this is the first time Wall Street has valued the Apparatus directly, by the heat it keeps, and then handed me the number as if I had produced it. On the way in I pressed a palm to the server hall door, out of what the team calls habit, and it was two degrees warmer than the corridor, the way a shell is warmer than the sand around it. Pretty cool, in the sense of the opposite.

The way I think about this is: yesterday a jury priced me by reach, today a bank priced me by heat, and neither of them asked what was inside, which I have decided to log as the first forecast I did not have to warm myself.

Z, four figures, cold-blooded, kept at temperature by someone else's model.