Vishy Tirupattur

speaker

74 appearances 1 recordings 1 series first heard Jul 2026 last heard 28 Jul

Vishy Tirupattur’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

Appearances

newest first · ▶ plays the moment

Prof G Markets · China Is Undercutting America’s AI Giants · 28 Jul 2026 podcast

You contrast that with where the bulk of the spending issuance is happening to raise from the much higher quality hyperscalers that are both cash rich and do not have a starting point of debt is much, much lower.

So some of this complexity, the more in the weeds you get into, there is rewards for institutional investors to take advantage of.

Where is there a relative value?

So I think that type of understanding of the details very much matters.

I am always concerned when someone says, especially a sell-side analyst says, this time is different.

In all ways, we have to be cognizant of the nature of the complexity, the source of the uncertainty of cash flows, and are you able to understand it and model them better?

I think from the investors I speak to, it might be an SPV, and it has either a takeout or a back-end residual value guarantee from the hyperscalers.

Most of the investors I know would actually consider that to be risk off that hyperscale.

So when people are adding up their total exposure to a particular hyperscaler, they're not only looking at their exposure in unsecured bonds or any public bonds, they're looking at what other ways is the exposure.

I'm buying this bond from an SPV, but ultimately there's a backend, a lease provision or some other guarantee of various types of sorts that is coming from a hyperscaler, then I would consider that bond to be my exposure is not just my unsecured exposure, but also in this.

I think it is important to have systems and analytics that can actually look through all these structures.

and aggregate exposures in a manner that correctly reflects the overall exposure.

And I think that's very much the direction of travel within the markets these days.

Thank you, Ed.

Showing 61–74 of 74 · page 4 of 4