Podcasts about HBC

This Sunday, Highland's Group Minister Josh Duinker continued our All Sufficient series with a message from Titus 2:11-14. Josh reminded us that God's grace not only rescues us from sin but also trains us to pursue holiness and equips us to live as people who remember God's faithfulness, trust His provision, obey His Word, and find their ultimate satisfaction in Him.

This past Sunday, July 12th 2026, Pastor John Durham continued our All Sufficient sermon series with a message from Romans 8. John showed how God's grace removes our condemnation, sets us free, adopts us into His family, sustains us in our weakness, accomplishes His sovereign purposes, and secures us forever in Christ. Because of God's grace, believers can live with confidence, knowing that nothing can separate them from the love of God.

This Sunday, Pastor John Durham continued our All Sufficient sermon series with a message from Galatians 2, reminding us that we are all equally condemned by sin and equally justified through faith in Christ alone, not by our obedience or good works. Because Jesus gave Himself for us, His grace doesn't simply forgive our sin; it transforms our lives, empowering us to live through His righteousness for His glory.

On Episode 310 of The Six Five Pod, Patrick Moorhead and Daniel Newman unpack the biggest stories from the week, including insights from Qualcomm Investor Day 2026, OpenAI and Broadcom's Jalapeño AI chip, Anthropic's Micron partnership, SpaceX's massive Reflection AI compute deal, Sakana AI's new Fugu orchestrator, and why memory is emerging as a critical layer of AI infrastructure. Plus, Bulls & Bears covers NVIDIA's $25B bond offering, Apple's MacBook price increases, Micron's record quarter, and Cerebras' first earnings as a public company. The handpicked topics for this week are: Qualcomm Investor Day 2026 — The Data Center Debut: Pat and Dan break down Qualcomm's push into the data center after the company took the stage with Microsoft's Satya Nadella and Meta's Mark Zuckerberg as named customers. They unpack the new Dragonfly platform, including the C1000 250-core data center CPU with PCIe Gen 7 and CXL, the AI200 and AI250 inference accelerators, and a novel High Bandwidth Compute (HBC) architecture that stacks compute under LPDDR memory at dramatically lower cost than HBM. They highlight Qualcomm's ambitious growth targets: $15B data center revenue target for FY 2029, an increased total non-handset revenue goal from $22B to  $40B, and a shortened timeline for automotive revenue by two years. They also debate the identity of Qualcomm's unnamed hyperscaler customer and why its robotics opportunity may be flying under the radar. (The Decode) OpenAI and Broadcom Unveil Jalapeño, OpenAI's First Custom Chip: A photo of Sam Altman and Hock Tan holding a wafer and packaged die kicked off OpenAI's reveal of Jalapeño, a custom inference chip built with Broadcom and slated for late-2026 deployment. The chip reached tape-out in roughly nine months, which is an aggressive cycle for an ASIC of this size, and uses HBM3E memory. Pat takes a victory lap on his long-standing heterogeneous compute thesis: every hyperscaler and now every model lab is building accelerators, and the XPU efficiency argument has played out as predicted. Dan frames OpenAI's broader move as existential: they cannot serve frontier models at premium margins if compute remains constrained. He flags that OpenAI is trying to do everything from chips and fabs to social networks and browsers, and that its IPO is now delayed. (The Decode)   Anthropic and Micron Sign a Strategic Multi-Year Memory Agreement: Anthropic and Micron announced a multi-year supply agreement for HBM, DRAM, and SSDs, including co-designed next-generation memory for AI workloads, along with a strategic investment by Anthropic in Micron. The pattern mirrors Samsung and SK Hynix's pre-funding Anthropic in May, and follows OpenAI's Jalapeño as another frontier lab moving to lock in supply chain control. Dan frames it as the same circular financing playbook NVIDIA ran two to three years ago, but with the ball now in the memory triopoly's court. Pricing-floor agreements with no ceilings, customized rather than commoditized memory architecture, and demand running well past the previously assumed 2027-2028 horizon. Pat notes that the rumored 14% free cash flow margin at Anthropic makes the strategic investment math work cleanly for both sides. (The Decode)   SpaceX Signs $6.3B Compute Deal with Reflection AI: SpaceX inked a $6.3B compute lease with open-source AI lab Reflection AI, at $150M per month from July 2026 through 2029, giving Reflection access to NVIDIA GB300 chips inside the Colossus infrastructure. Combined with the $920M-per-month Google compute contract and existing xAI commitments, SpaceX now has a contracted backlog larger than most public AI startups' entire revenue base, with some calling it the largest commercial AI infrastructure provider at $80B in contracted revenue. Pat reads it as XAI failing to land with developers, consumers, or enterprises, leaving SpaceX with a pot of gold worth far more as wholesale capacity than as XAI's own training compute. Dan flags that Google owning 7% of SpaceX ahead of an IPO is not accidental, and the open question is whether this becomes a Nebius-style infrastructure trade or a full-stack Google-equivalent platform. (The Decode)   Japan's Agentic Orchestrator Sakana AI Ships Fugu Plus and Fugu Ultra: Japan's Sakana AI released Fugu Plus and Fugu Ultra, an agentic orchestrator built on a multi-agent MOE approach that routes workloads across multiple underlying models rather than training a new frontier base model. Sakana claims agentic capabilities on par with or better than top frontier models at significantly lower input/output token costs, similar to the DeepSeek and GLM cost-undercut narrative. Pat compares the architecture to OpenRouter and notes the developer-facing parallel to Perplexity Computer's model-routing approach. Both agree that models themselves are no longer moats, and suggests the real moat is the harness, tooling, connectivity, looping, agentic stack, and total compute availability. Expect more sovereign agentic plays from Japan, the Middle East, and elsewhere on the same template. (The Decode)   The Flip — Is the Era of Memory as a Commodity Over? Daniel takes the FOR side: memory has moved from commodity to strategic AI infrastructure, citing 16 multi-year agreements covering $22B in committed volume booked through 2027, 84.9% gross margins higher than NVIDIA's, the technology barriers of HBM yield/stacking/packaging that only three companies can clear, and demand drivers tied to HBM as the binding constraint on every AI accelerator rather than to elastic consumer cycles. Patrick takes the AGAINST side: long-term agreements and SCAs signal a commodity in a strong cycle, not a structural rerating; nearly every relevant memory standard — DDR5, MRDIMM, HBM3/3E/4, LPDDR5X/6, GDDR6/7, LPCAM2 — is JEDEC-standard and therefore commodity at the pin; and CXMT's China DDR5 production ramps in 2H 2026 with Lenovo already shipping and HP and Dell qualifying. Custom HBM4 and Qualcomm-style HBC are where strategic memory genuinely lives. (The Flip)   NVIDIA's $25B Investment-Grade Bond Offering: NVIDIA priced a $25B multi-tranche bond offering on June 15, its first investment-grade debt sale since 2021, with seven tranches maturing between 2028 and 2056 and $85B in orders against an initial $20B target. Dan reads it as raising when capital is cheap, and oversubscription is real. NVIDIA doesn't need the money, it has a gold balance sheet, and is establishing a credit benchmark rather than funding CapEx. Pat agrees the optics are clean, but flags the irony of NVIDIA, with negative debt, borrowing while the stock trades like dead money at a sub-20x forward P/E. Both note that NVIDIA's underperformance reflects the market's skepticism on memory-as-strategic and on NVIDIA's own capex pace relative to the buildout opportunity ahead. (Bulls & Bears)   Tim Cook Calls Apple's Memory Crunch Price Raises on MacBook and iPad "Unsustainable": Apple announced MacBook and iPad price increases of up to $300, with Tim Cook telling the WSJ the memory cost environment is unsustainable. AAPL fell ~5% on the news, the broader rally was momentarily wiped out before Micron held the gains by close. Dan frames it as a moment when the market saw who is going to pay for the AI buildout: the consumer. He notes Apple's pricing power and inelasticity test is now live. Pat traces the backstory to Apple's negative-margin pricing pressure on Micron during the 2022-2023 memory downturn. The question is whether consumer-price blowback will eventually flow back to the memory vendors. (Bulls & Bears)   Micron Blows the Doors Off Fiscal Q3 — $41.46B Revenue, 84.9% Gross Margin: The memory story continues as Micron reported its largest beat in company history with fiscal Q3 revenue of $41.46B versus a $35.69B consensus, EPS of $25.11, year-over-year growth of more than 340%, and a record 84.9% gross margin that is roughly 10 points above NVIDIA's. Q4 guidance came in at a $50B midpoint against a $43B consensus. The 16 multi-year strategic customer agreements add up to $22B in committed volume, with most contracts containing pricing floors but no ceilings on most of the volume — a structurally asymmetric setup. Pat notes 95% of the beat came from price, not units, which reinforces his commodity argument; Dan flips it as the early innings of an NVIDIA-style run that puts Micron's 2027 profit on par with Google. (Bulls & Bears)   Cerebras' First Earnings Report Since IPO — Revenue Doubles, Margins Compress: Cerebras (CBRS) reported its first earnings as a public company, doubling year-over-year revenue and beating the top line while missing EPS, but the stock sold off hard amid gross margin deterioration. Core revenue came in at $191M, up 12% sequentially, with a $194M Q2 guide that is essentially flat, core gross margins at 47% guiding to 36-38% and 38-41% for the year, and operating margins flipping from positive 2% to a guided -30% to -32%. Customer concentration is shifting from Core42 and G42 (86% of FY25 revenue) to OpenAI, which loaned Cerebras $1B and gets paid quarterly in warrants. Pat flags that Cerebras' uncontested speed claim is no longer uncontested with Groq, TPU v8i, and Tenstorrent putting up real numbers. Cathie Wood is down 52% on her position. (Bulls & Bears) Watch the full video at sixfivemedia.com, and be sure to subscribe to our YouTube channel so you never miss an episode. The Decode Qualcomm Investor Day Lands the Data Center Pivot — Microsoft Deploying Qualcomm HBC XPUs in Azure (Per Satya Nadella) + Meta MOU on Three New Qualcomm Datacenter CPUs (Per Zuckerberg); $3.9B Modular Acquisition; Dragonfly Brand + AI200/AI250 Roadmap; HUMAIN 200MW Ramp; Qualcomm to Become Largest Automotive Silicon Company; Targets $3B Datacenter Revenue FY27, $35B by FY31 https://finance.yahoo.com/markets/stocks/articles/qualcomm-investor-day-detail-data-163247063.html  OpenAI Begins Vertical Integration — First Custom Inference Chip "Jalapeño" Unveiled With Broadcom June 24 (Hock Tan: As Good as Blackwell + TPU; ~50% Cost Savings; Late-2026 Microsoft Deployment, 10GW Multi-Gen Roadmap); Daybreak Cyber Stack (June 22) Confirms the Platform Shift https://x.com/OpenAI/status/2069770172802773292  Frontier AI Labs Are Now Financing Their Own Supply Chains — Anthropic Locks In Multi-Year Micron HBM/DRAM/SSD Supply + Micron Becomes Series H Investor; Same Pattern as Samsung + SK hynix Pre-Funded Anthropic in May; $965B Post-Money, $47B Revenue Run-Rate, October IPO Target https://investors.micron.com/news-releases/news-release-details/micron-and-anthropic-announce-strategic-agreement-scale-next  SpaceX Signs $6.3B Compute Deal With Reflection AI — $150M/Month July 2026 → End of 2029; NVIDIA GB300 + Colossus 2 Capacity; SpaceX Now Largest Commercial AI Infrastructure Provider With $80B+ Committed Compute Revenue Through 2029 https://finance.yahoo.com/technology/ai/articles/spacex-reportedly-grant-reflection-ai-162749237.html  The Sovereign AI Stack Lands — Japan's Sakana Ships Fugu + Fugu Ultra Multi-Agent System (June 22) That Beats Opus 4.8, GPT-5.5, and Gemini 3.1 Pro on 10 of 11 Benchmarks; Designed Around US Export-Control Risk; Completes the Three-Bloc Sovereign-AI Map With Mistral Compute (Europe) + DeepSeek $7.4B (China) https://www.datacamp.com/blog/sakana-fugu  The Flip Is the Era of Memory as a Commodity Over? FOR: Memory is now strategic AI infrastructure with multi-year supply lock-ins. The cycle dynamics that defined the last 30 years no longer apply. https://www.benzinga.com/markets/tech/26/06/60062500/micron-earnings-could-echo-nvidias-2023-moment-says-futurum-ceo  AGAINST: Memory is cyclical and priced for perfection. This print is either step change or top of the cycle, and the second one is more likely. https://www.cnbc.com/2026/06/25/apple-macbook-ipad-price-hike-memory.html Bulls & Bears NVIDIA (NVDA) $25B Bond Sale Anchors the AI Debt-Finance Boom — First Bond Offering Since 2021; Joins Alphabet $80B, Amazon $27.5B, Meta $30B, Oracle Stack; Dan: "Locking In Cheap Capital While It Can" https://finance.yahoo.com/technology/ai/articles/nvidia-record-us-25-billion-131039687.html  Apple (AAPL) Falls −5%+ Thursday June 25 on Confirmed MacBook + iPad Price Hikes — Tim Cook RAM "Unsustainable" Comment Lands as Real Price Action; Apple Hikes Erase Micron-Driven Tech Rally Mid-Session; Memory Beneficiaries (SanDisk, Micron) Surge; Analysts "Mostly Nonplussed" https://tickerspark.ai/market/apple-inc-aapl-drops-5-3-as-price-hikes-spook-investors-1782399950638  Micron (MU) Q3 FY26 ACTUALS — Largest Beat in Company History; Revenue $41.46B (+346% YoY) Crushes $35.69B Consensus; Non-GAAP EPS $25.11 (+1,215% YoY) Beats $20.49; Record 84.9% Gross Margin (Higher Than NVIDIA); Q4 Guide $50B Midpoint vs $43B Consensus; Stock +18-19% Overnight to $1,242 https://www.nasdaq.com/articles/nvda-who-micron-blows-doors-q3-earnings-revs  Cerebras Systems (CBRS) Q1 ACTUALS — First Earnings Post-IPO; Revenue $193.4M Nearly Doubled YoY; 2026 Guide $855-$865M Beats $824M; BUT Gross Margins Forecast 38-41% (Down From 45% Q1, Half of NVIDIA + Micron); Stock −20% AH on Margin Compression; Sets Up Inference-Tier Margin Debate https://investors.cerebras.ai/news-releases/news-release-details/cerebras-systems-announces-strong-first-quarter-2026-results  

This week, Pastor Jordan Greer continued our All Sufficient sermon series with a message from John 3:1-8. He reminded us that God's grace frees us from striving to earn His love or control our own lives, while challenging us to surrender to the work of the Holy Spirit, who not only gives us new life but also empowers us to walk in obedience by yielding to the power of the ever-present Helper.

This week in our All Sufficient series, Pastor John Durham preached a message from Romans 3, reminding us that both the rebellious and the religious stand guilty before God and are equally in need of His grace. John showed that while the law exposes our sin, it cannot save us; salvation comes only through the righteousness of Christ, received by faith as a gift of God's grace.

fWotD Episode 3334: Tatannuaq Welcome to featured Wiki of the Day, your daily dose of knowledge from Wikipedia's finest articles.The featured article for Sunday, 21 June 2026, is Tatannuaq.Tatannuaq (Inuktitut: ᑕᑕᓐᓄᐊᖅ, Inuktitut pronunciation: [tatanːuaq], c. 1790s – early 1834), also known as Tattannoeuck or Augustus, was an Inuk interpreter for two of John Franklin's Arctic expeditions in what is now Canada. Originally from a group of Inuit living 320 km (200 mi) north of Churchill, then part of Rupert's Land, he was employed as an interpreter at the Hudson's Bay Company (HBC) trading post in Churchill, becoming proficient in English and Cree. He explained various geographical and Inuit cultural characteristics to Franklin.Tatannuaq was hired as one of two Inuit interpreters to accompany Franklin's 1819–1822 Coppermine expedition; during the expedition, Franklin would sometimes send him ahead of the party to scout the terrain, and he helped to communicate with groups they encountered. The expedition was plagued by starvation and by the deaths of the majority of the expedition party on the return journey. He accompanied Franklin on the 1825–1827 Mackenzie River expedition, where he served a diplomatic role and dissuaded Inuit groups from attacking the expedition. After several years of interpreter service at the HBC post at Fort Chimo, he departed to the interior to assist in locating John Ross's expedition, but died due to bad weather a short distance from Fort Resolution in early 1834. The butterfly species Callophrys augustinus and a Northwest Territories lake were named for him.This recording reflects the Wikipedia text as of 01:04 UTC on Sunday, 21 June 2026.For the full current version of the article, see Tatannuaq on Wikipedia.This podcast uses content from Wikipedia under the Creative Commons Attribution-ShareAlike License.Visit our archives at wikioftheday.com and subscribe to stay updated on new episodes.Follow us on Bluesky at @wikioftheday.com.Also check out Curmudgeon's Corner, a current events podcast.Until next time, I'm generative Jasmine.

This week in our All Sufficient series, Pastor John Durham preached from Romans 2, reminding us that both the rebellious and the religious are equally in need of God's grace. He challenged us to stop comparing ourselves to others and defending our own sin, recognizing that salvation is not found in religious knowledge or performance, but in the righteousness of Christ alone.

Do you need to be encouraged? Do you find yourself on social media or watching the news and easily becoming discouraged? Take heart, our God has provided a way of encouragement, and He is our ultimate source of love for one another. What does Jesus expect from His bride, the Church? Jesus has left His Spirit to move and act for God's glory. The Spirit is utilizing His people to accomplish the task of discipleship, encouragement and loving one another. Sharing the truth of the Gospel and making Christ known by making disciples is our primary mission here at HBC. But how is this accomplished? What does it look like to walk in a manner worthy of the gospel of Christ? We only need to look to Christ Himself for the answers. Jesus left His Holy Spirit to not only be in our presence, but to actually abide in our soul. The Spirit of God through His Word will encourage us this coming Sunday as we look at Philippians 2:1-11. Jesus is our ultimate source of joy, hope and love. What does it really mean, to "be humble of mind, regarding one another as more important than yourselves"? (Phil 2:3b). Anticipate this coming Sunday, when you come into the building, to take part in and observe the hands and feet of Jesus working through His church the Bride of Christ. How are your hands and feet moving in the direction of love towards one another? The song by Sovereign Grace, "Jesus Thank You," has a lyric that states: "Once your enemy, now seated at your table, Jesus, thank you." No greater love has ever been demonstrated than Jesus' death on the cross at Calvary for you and for me. One day we will gather around the banquet table of our King. Are you not encouraged by that future hope? H

What a weekend of football. The HBC playoffs are locked up, seeding and all; 3 SBC teams know that they're locked in and the Cowboys' fate is sealed -- and we cover it all

This week, Pastor John Durham kicked off our new sermon series All Sufficient with a message on God's grace. Through Ephesians 2 and Exodus 34, John reminded us that grace is at the very heart of God's character, lavishing His love and mercy on those who could never earn it. He challenged us to respond to this grace with humility, worship, gratitude, and a life transformed by the saving work of Christ.

This week, Jeremy Daniel preached from Jude 1:17-25, encouraging believers to remain faithful by grounding themselves in God's truth, praying with dependence on Him, and resting in His love and mercy. Jeremy reminded us that perseverance is not ultimately sustained by our strength, but by the God who is able to keep His people and present them blameless before Him.

This week, Pastor John Durham continued our Hey Jude sermon series with a message from Jude 5-15. John reminded us that God's truth must continually be remembered and passed on because people are prone to forget. Through examples of rebellion and judgment throughout Scripture, Jude warns of the danger of false teaching and unrepentant sin, while Pastor John reminded us that our only hope is found in the sacrifice of Jesus on the cross.

254 - Get to Know Peter Jung Tanner Callison Welcome back to Disciple Hinson Podcast! In this "Get to Know" episode, Tanner interviews Peter Jung, one of the newest HBC staff members.

This week the guys analyse the game dubbed "relegation bowl" and examine a trio of HBC games

This week for Senior Sunday, Student Minister Nathan Slonaker preached a one-off message from Matthew 5:1-3 about dependence. Nathan reminded us that the Christian life is not about growing into self-sufficiency, but about growing into a deeper dependence on God. He challenged us to resist pride and the illusion of independence, encouraging us instead to live with a posture of humility, prayer, and continual reliance on God's grace.

On this week's episode the gang reviews a pair of SBC clashes which will go a long way to shaping the postseason positioning. Buy & Sell kicks it up a notch with several takes involving the SBC, HBC and AFI as a whole. After you give it a listen, have your say on socials and reach out if you have something for next week's Buy & Sell

This week, Pastor John Durham kicked off our new series Hey Jude with a message from Jude 1-4, reminding us of the beauty and security of our salvation. The truth of the gospel is that Christians have been called by God, fully loved, and eternally kept through Christ. John challenged us to stand firmly on this truth, warning us not to live lives marked by cheap grace.

This week, Abe Yeager taught from the book of Philemon on the importance of reconciliation. Through Paul's example, we see the heart of the gospel on display: taking on the cost, extending grace, and restoring relationships.

This week in our Sisters and Brothers sermon series, Pastor John Durham taught from Romans 12:3-8, challenging us to embrace our unique gifts as grace from God, meant to serve others and build up the Church as one body in Christ. He reminded us that this kind of unity and service can only happen when we lay aside our pride.

This week, Pastor John continued our Sisters and Brothers sermon series with a message from Ephesians 2:18-22, challenging us to see the Church as a unified, diverse, and shared community built on Christ.

This week, Drew Humphrey kicked off our new series Sisters and Brothers with a message from Galatians 3. Drew reminded us that our identity as God's children is found through faith in Jesus and is available to all. He challenged us to reject division and instead live as a unified family, reflecting Christ by loving fully, seeing rightly, and embracing our shared identity in Him.

The following episode is scheduled for one fall (one fall). The guys review an SBC weekend where the winners scored over 120 combined offensive points, and see how the HBC shakes out with big wins for the Panthers & Vipers. They also put together their dream AFI-Wrestlemania card. 

This Easter Sunday, Pastor John Durham preached from 1 Peter 3:18, reminding us that Jesus' suffering and once-for-all sacrifice are complete. Nothing further can be added to the finished work of the cross. Through His death in our place and His resurrection to life, we are invited into a restored relationship with God.

This week, Pastor John shared a message out of Matthew 21, reminding us that Jesus is the King we've been longing for. He is the one Who holds all authority and came to save the world. He challenged us to move beyond a lukewarm faith, recognizing that Jesus calls us to respond. We can either fully reject Him or fully surrender, but never settle for simply liking Him.

Episode 164 features Brian “Herbie” Herbertson, head brewer at Lucky Luke Brewing (Santa Clarita, Palmdale, Lancaster). Mike and Herbie dig into his path from homebrewing and touring with bands to commercial brewing, winning awards, and pivoting through COVID to grow Lucky Luke's three locations. The conversation covers brewing philosophy and techniques (yeast management, tank scheduling), favorite hops and styles (Simcoe, Eldorado, HBC 630, Dulcita; lagers, West Coast IPAs, hazies), balancing creativity with consistency, and industry trends like lower‑ABV session lagers. They also discuss community-focused initiatives — local music, food trucks, fundraisers, disc golf collaborations — and brewery identity (tap handle tools, song‑inspired beer names). Highlights include stories from memorable brew days and events, Herbie's favorite beers and guilty pleasures, his Mount Rushmore of influential breweries, and why craft brewers should engage their neighborhoods to build sustainable brands. Expect a friendly, wide‑ranging chat about beer, music, pizza, and life in the brew house.

This week, Pastor John opened up our new sermon series Rescue by walking us through Psalm 107, showing how anyone living apart from God is either lost, bound, dying, or helpless. Over and over again, the psalm reveals that when people cry out in their desperation, God is faithful to respond in grace and deliver them. Ultimately, this points to Jesus as the ultimate Rescuer, who came to save us once and for all.

This week on the PayneCast:The PayneCast is joining “During the Break”'s Pod-A-Thon on March 27 at 6:00Heritage girls basketball - State ChampsCharles Fant is the new HBC at Boyd BuchananThe Henry Allen Show at BaylorMarch Madness World Baseball ClassicRushmore of ComediansBuy/SellBe sure you leave us a review and a rating. You can follow us on Spotify, Apple Podcast, YouTube, Facebook, & Instagram! Please send your comments, topics, and ideas to thepaynecast1@gmail.com.

In our final week in our Established sermon series, we look at the story of David after calamity and his dependence on the Lord. Where can we find God when bad things happen? What is the result?I SAMUEL 27:1-4I SAMUEL 30:1-3I SAMUEL 30:4-6 Faith in God doesn't prevent hardship, it carries us through it.In our worst moments, we need to preach truth to our own souls.“Look around and be perplexed. Look within and be distressed. Look to Jesus, be at rest.” Corrie Ten Boom I Samuel 30:7-10I SAMUEL 30:11-15“God's ways are behind the scenes; but He moves all the scenes which He is behind.” - John Nelson Darby I SAMUEL 30:16-20 God's people never suffer a final defeat! I SAMUEL 30:21-25 Grace gives what effort cannot earn.

Choices. They're a significant part of life. Some are small—what we'll eat for lunch. Some are big—where we live. We face choices every day. But there are also moments when we face life-altering decisions. These pivotal moments impact the rest of our lives. In Deuteronomy 30:15-20, Moses offers a pivotal choice to the people of Israel. Listen as Abe Stratton, HBC pastoral staff member from 2008-2023, leads us to gaze upon the One who calls us to a major decision. Abe is the Senior Pastor at Bethany Baptist Church in Brevard, NC.

We continue our Established sermon series and dive deeper into the story of Saul and David. We can find in Scripture the downward spiral of sin and where God proves His might.I SAMUEL13:13-14I SAMUEL 18:6-9.  I SAMUEL 19:1  I SAMUEL 20:30-33  I SAMUEL 22:16-19. I SAMUEL 28:3-8.Sin always spirals downward.Sin appears so casually.Sin harms so completely.Sin controls so quickly.Sin destroys so painfully. I SAMUEL 16:1-13God often prepares us in hidden places.God's primary concern is our heart. I Samuel 17:41-49 RIGHTEOUS COURAGE HONORS GOD.FAITH SIMPLY BELIEVES IN GOD'S GREATNESS.GOD USES THE UNLIKELY SO HE GETS THE VICTORY.

In the second of our two-part panel discussion from Morgan Stanley's TMT conference, our analysts break down the complexity of financing AI's infrastructure and the technological disruption happening across industries.Read more insights from Morgan Stanley.----- Transcript -----Michelle Weaver: Welcome back to Thoughts on the Market, and welcome to part two of our conversation live from the Technology, Media and Telecom conference. I'm Michelle Weaver, U.S. Thematic and Equity Strategist at Morgan Stanley. Today we're continuing our conversation with Stephen Byrd, Josh Baer and Lindsay Tyler. This time looking at financing AI and some of the risks to the story. It's Friday, March 6th at 11am in San Francisco. So yesterday we spoke about AI adoption. And while there's a lot of excitement on this theme, there've also been some concerns bubbling up. Lindsay, I want to start with you around financing. That's another critical component of the AI build out. What's your latest on the magnitude of the data center financing gap, and what role [are] credit markets playing here? Lindsay Tyler: Yeah, in partnership with Thematic Research, Stephen and team, and colleagues across fixed income research last summer, we did put out a note, thinking about the data center financing gap, right? So, Stephen and team modeled a $3 trillion global data center CapEx need over a four-year timeframe. So, in partnership with fixed income across asset classes, we thought: okay, how will that really be funded? And we came to the conclusion that the hyperscalers, the high quality hyperscalers, generate a good amount of cash flow, right? So, there's cash from ops that can fund approximately half of that. But then we think that fixed income markets are critical to fund the rest of the funding gap. And really private credit is the leader in that and then aided by corporate credit and also securitized credit. What we've seen since is that yes, private credit has served a role. There is this difference between private credit 1.0, which is more of that middle market direct lending. And then private credit 2.0, which is more ABF – Asset Based Finance or Asset Backed Finance. And what we see there is an interest in leases of hyperscaler tenants, right? We've also seen in the market over the past nine months or so, investment grade bond issuance by hyperscalers. Obviously, a use of cash flow by hyperscalers. We've seen the construction loans with banks and also private credit per reports. We've also seen high yield bond issuance, which is kind of a new trend for construction financing. We've seen ABS and CMBS as well. And then something new that's emerging in focus for investors is more of a chip-backed or compute contract backed financings, like more creative solutions. We're really in early innings of the spend right now. And so, there is this shift. As we start to work through the construction early phases, the next focus is: okay, but what about the chips? And so, I think a big focus is that, you know, chips are more than 50 percent of the spend for if you're looking at a gigawatt site. And it depends what type of chips and kind of what generation. But that's the next leg of this too. So, it's kind of a focus, you know, for 2026. Michelle Weaver: And how do you view balance sheet leverage and financing when you think about hyperscaler debt raising magnitude and timelines? Lindsay Tyler: So just to bring it down to more of a basic level, if you need compute, you really might need two things, right? A powered shell and then the chips. And so, if you're looking for that compute, you could kind of go in three basic ways. You could look to build the shell and kind of build and buy the whole thing. You could lease the shell, from, you know, a developer, maybe a Bitcoin miner too – that is converted to HBC. And then you kind of buy the chips and you put them in yourselves. Or you could lease all the compute; quote unquote lease, it's more of a contract. In terms of the funding, if you're thinking about the cash flows of some of the big companies – think of that as primarily being put towards chip spend. If you're thinking about the construction that's kind of split between cash CapEx but also leases. And so, what we've seen is that there is more than [$]600 billion of un-commenced lease obligations that will commence over the next two to five years, across the big four or five players. And then my equity counterparts estimate around [$]700 billion of cash CapEx that needs this year for some of those players as well. So, these are big numbers. But that's kind of how, at a basic level, they're approaching some of the financing. It's a split approach. Michelle Weaver: And what have you learned around financing the past few days at the conference? Anything incremental to share there? Lindsay Tyler: Sure. Yeah. I think I found confirmation of some key themes here at the conference. The first being that numerous funding buckets are available. That was a big focus of our note last year is that you can kind of look at asset level financing. You can look at public bonds, you can look at some equity. There are these different funding buckets available.The second is that tenant quality matters for construction financing. I think I've seen this more in the markets than maybe at this conference over the past two to three weeks. But that has been a focus of pricing for the deals, but also market depth for the deals. A third confirmation of a key theme was around the neo clouds and also the GPU as a service business models. Thinking about those creative financings, right. Are they thinking about from their compute counterparties? Would they like upfront payments? Might they look to move financing off [the] balance sheet, if they have a very high-quality investment grade rated counterparty? So, there is some of this evolution around those solutions. And then a fourth key theme is just around the credit support. And Stephen has and I have talked about this around some of the Bitcoin miners – is that, you know, there can be these higher quality investment grade players that might look to lend their credit support. Maybe a lease backstop to other players in the ecosystem in order to get a better pricing on construction financing. And we are seeing some press pickup around how that might play out in chip financing down the road too. Michelle Weaver: Mm-hmm. AI driven risk and potential disruption has been a big feature of the price action we've seen year-to-date in this theme. Stephen, what are some asset classes or businesses you see as resistant to some of this disruption? Stephen Byrd: We spend a lot of time thinking about, sort of, asset classes that are resistant to deflation and disruption. And what's interesting is there's actually a handful of economists in the world that are doing remarkable work on this concept. That they would call it the economics of transformative AI. There are three Americans, two Canadians, two Brits, a number of others who are doing really, really interesting work. And essentially what they're looking at is what do economies look like? As we see very powerful AI enter many industries – cause price reductions, deflation… What does that do? They have a lot of interesting takeaways, but one is this idea that the relative value of assets that cannot be deflated by AI goes up. Very simple idea. But think of it this way, I mean, there's only, you know, one principle resort on Kauai. You know, there's a limited amount of metals. And so, what we go through is this list that's gotten a lot of investor attention of resistant asset classes or more of the resistant asset classes that can go up in value. So, there are obvious ones like land, though you have to be a little careful with real estate in the sense that like, office real estate probably wouldn't be where you would go. Nor would you potentially go sort of towards middle income, lower income housing. But more, you know, think of industrial REITs, higher-end real estate. But there are a lot of other categories that are interesting to me. All kinds of infrastructure should be quite resistant, all kinds of critical materials. Metals should do extremely well in this. But then when you go beyond that, it's actually kind of interesting that there; arguably there's a longer list than those classic sort of land and metals examples.Examples here would be compute… Michelle Weaver: Mm-hmm. Stephen Byrd: I thought Jensen put it, well, you know, if there's a limited amount of infrastructure available, you want to put the best compute. And ultimately, in some ways, intelligence becomes the new coin of the realm in the world, right? So, I would want to own the purveyors of intelligence. It could include high-end luxury. It could include unique human experiences. So, I don't know how many of y'all have children who are sort of college age. But my children are college age, and they absolutely hate what they would call AI slop.They want legit human content, and they seek it out. And they absolutely hate it when they see bad copies of human content. And so, I think there is a place in many parts of the economy for unique human experiences, unique human content, and it's interesting to kind of seek out where that might be in the economy. So those would be some examples of resistant assets. Michelle Weaver: Mm-hmm. Josh, software's been at really the center of this AI disruption debate. How would you compare the current pullback in software multiples to prior periods of peak uncertainty? And do you think any of these concerns are valid? Or how are you thinking about that? Josh Baer: Great question. I mean, software multiples on an EV to sales basis are down 30 – 35 percent just from the fall, I will say. And that's overall in the group. A lot of stocks, multiple handfuls, are down 60-70 percent over the last year. And what's being priced in is really peak uncertainty, a lot of fear. And these multiples, now four times sales – takes us all the way back about 10 years to the shift to cloud. And this time in many ways reminds us of that period of peak fear. In this case, what's being priced in is terminal value risk. We talked about this TAM yesterday. But you know, who is going to win that share? How is it divided from a competitive perspective across these model providers? The LLMs with new entrants. Of course, the incumbents. And this other idea of in-housing. Michelle Weaver: Mm-hmm. Josh Baer: So, there's competitive risk, there's business model risk. Are companies going to need to change their pricing models from seat-based to consumption or hybrid. And then last margin risk. Just thinking about the higher input costs and higher capital intensity. And so, you know, all of those fears are being priced in right now. Michelle Weaver: And we, of course though, had a bunch of these companies live with us at the conference. How are they responding to some of these risks? How are they addressing these investor concerns? Josh Baer: Most of the companies here from our coverage are the incumbent software vendors. And I think that the leadership teams did a really nice job coming out and defending their competitive moats and really articulating the story of why they are in a great position to capitalize on the opportunity. And the reasons can vary across different companies. But some of the commonalities are around enterprise grade, trust, security, governance, acceptance from IT organizations.The idea of vibe coding all apps in an organization get squashed when you actually talk to companies and chief information officers. For some companies there's proprietary data moats, network effects. All of that's on top of existing customer relationships. And so, you know, that was the message from the companies that we had. That we're the incumbents. We get to use all of the same innovative AI technology in the same way that all these different competitive buckets do. But we have, you know, that differentiation in that moat. And so, we're in a good place. Michelle Weaver: I want to wrap on a positive note. Stephen, what did you hear at the conference that you're most excited about? Stephen Byrd: I'd say the life sciences. A few investors pointed out that perhaps AI has a PR problem these days. And I do think showing a significant benefit to humanity in terms of improved health outcomes, whether that's just better diagnosis, you know. Away from this event, but I was in India the week before and, you know, AI can have a powerful benefit to the people who suffer the most in terms of providing very powerful medical tools in a distributed manner. So, I'm a big fan there.But you know, in many ways, curing the most challenging diseases plaguing humanity. The kind of problems involved in providing those and developing those cures are perfect for AI. So that, for me – stepping way back – that is by far the most exciting thing. Michelle Weaver: Josh, same to you. What are you most excited about? Josh Baer: From my perspective, it's potentially the turning point for software. The ability to showcase that we are at this inflection point and acceleration. To actually see that it takes time for our software companies to develop new AI technologies. Put that into products that have been tested and proven and go through the enterprise adoption cycle. And that we're at the cusp of more adoption – that's what our survey work says. And to see that inflection, I think can help to rerate this sector. Michelle Weaver: Lindsay, same question for you… Lindsay Tyler: Maybe I'll tie it to markets. I've already had a lot of more conversations with equity investors over the past, how many months? There's a big fixed income focus right now, which is a great, you know, spot and really interesting opportunity in my seat. And there's a lot of interesting structures coming to be right now in the credit space. So, I think it's an exciting time. Michelle Weaver: Lindsay, Stephen, Josh, thank you very much for joining to recap the event and let us know what you learned at the conference. To our audience, thank you for listening here live. And to our audience tuning in, thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen. And share the podcast with a friend or colleague today.

While we talk about hops on essentially every episode, we rarely get to do a deep dive into the topic with someone who actually works in the field (get it? field? hop field? ha). Alex Diamandas of Yakima Chief Hops joined Cee and Nate to chat about his transition from home brewing to professional brewer to hop slanger, the big hack of Idaho 7 in the whirlpool, how hop extracts are actually made and the fundamental differences between Dynaboost and Hyperboost, how the HBC program works to transition new hops from the farm to the market, how you can add hops to the mash for a unique flavour, the marketing value of putting the hops on the label, how they're the only hop vendors globally that are grower-owned, how hop selection works, why harvest is the funnest and busiest time of the year, the new Cryo Fresh product for fresh hops, and the tariff situation along with the Canadian warehouse. The beers for this episode all featured Yakima Chief Hops, and all of the Town beers were supplied by Jeff Talmey of Town: Town Square Wheels Hazy IPA, Fairweather High Grade NEIPA, Town Better Days West Coast IPA, Slake Slow Slow NEIPA, Sawdust City Lone Pine West Coast IPA, Town Neon Trees Hazy IPA, Town Motel Royalty Hazy IPA, and Town Double Wheels Double NEIPA. This was fascinating - cheers! BAOS Podcast Subscribe to the podcast on YouTube | Website | Theme tune: Cee - BrewHeads

On this episode, Pat Dooley is joined by Florida Gators Head Football Coach - Jon Sumrall - as well as the HBC,  courtesy of Meldon Law              We'll have Big Mill's Cheesesteaks   "Yes, No Way, or Maybe,"  Hesser & Kipke  "Three Things" Leonardo's Pizza of Millhopper   "Quick Picks," Adam's Rib Co.   "Gator of the Week," BMI TeleMed   "Overachiever of the Week All that, and much more!

This week, Pastor John continued our Established sermon series with a message from 1 Samuel 8–13, emphasizing how impatience can lead us to compromise. He challenged us to resist fear and pride, choosing instead to trust God's timing by walking in faith, because the decisions we make in moments can shape the course of our lives.

This week, Pastor John continued our sermon series Established with a message from 1 Samuel 6-8. Through the text, he challenged us to move from casual faith to wholehearted surrender, reminding us that true establishment begins with repentant hearts before God. No one can stand against the Lord, our one and true King.

Pastor John continued our Established series by showing how easily we place God in second rather than surrendering fully to Him. In 1 Samuel 4–6, we're reminded that anything we rely on for control, approval, power, or comfort will ultimately fail us. The invitation this week is clear: lay down every rival and let God truly be first.

This week was special.We gathered with our church family from Hilton Baptist Church for one powerful, united service. Journey Church had the honor of leading worship, and Pastor Lynwood from HBC brought a timely and challenging message.What does a church that truly pleases God look like?Pastor Lynwood walked us through Scripture and helped us see that it is not about preference or performance, but about hearts aligned with Him and lives that reflect Him.www.thejourneychurch.cc

This week, Pastor John continued our Established sermon series with a message from 1 Samuel 3. He reminded us that God is always speaking to His people through His Word, His Spirit, and His work, often most clearly in moments of darkness. As we position ourselves with surrendered and attentive hearts, God establishes those who are willing to listen and respond.

This week, we kicked off our sermon series Established as we take a look at the different stories throughout 1 Samuel. This week, we looked at the story of Hannah and how she was barren but rooted in God and found His faithfulness amidst disappointment.1 Samuel 1:1-2 Genesis 2:24 Therefore a man shall leave his father and his mother and hold fast to his wife, and the two shall become one flesh.Matthew 19:4-6  He (Jesus) answered, “Have you not read that He who created them from the beginning made them male and female, 5  and said, ‘Therefore a man shall leave his father and his mother and hold fast to his wife, and the two shall become one flesh'?  6  So they are no longer two but one flesh. What therefore God has joined together, let not man separate.”  I SAMUEL 1:3-18 Being Established DURING Great Disappointment1. Continue in Prayer 10, 12, 13, 16, 26, 27.2. Endure in all Things 183. Worship the Lord  19  1 SAMUEL 1:19-204. Patient in Trust  20I SAMUEL 1:21-28I SAMUEL 2:1-10Christ is the promised King who will establish His people by His victory over death.

Welcome back to the Disciple Hinson Podcast! In this episode, we bring back our Get to Know segment with our newest elder, Austin Davis. Tanner interviews Austin about his life growing up in MS to the present serving as an elder at HBC.

In this week's sermon, we discuss our best guess as to what the Lord is doing in and through Highland in 2026.

This week, Pastor John continued our Practicing sermon series with a message from 2 Corinthians 9 on the spiritual practice of generosity. We were reminded that generosity is the joyful use of all God has entrusted to us for His glory and the good of others. As God gives abundantly and shapes our hearts, He invites us to grow from reluctant giving into cheerful generosity.

This week, Pastor John launched our new sermon series Practicing with a message from Psalm 34 on the practice of praise. We learned that praise is often a choice before it becomes a feeling, as it redirects glory from ourselves back to God. As we recount God's faithfulness, praise invites us to step fully into who God is and all He has done.

This week, the Church gathered as one body at one gathering to worship and pray together. Pastor John spent some time highlighting the power of prayer and emphasizing God as the sole recipient of our prayers.Ephesians 4:1–61. Unity Begins With Us Living Godly Lives 1, 2 2. Unity Requires Intentional Effort 3 3. Unity Is Found in What We Share in Christ 4-6 4. Unity Is Our Great Witness to Greater WacoA divided church preaches a divided gospel.  A united church demonstrates a powerful Redeemer. Communion 1 Timothy 2:1-3 I urge, then, first of all, that requests, prayers, intercession and thanksgiving be made for everyone--  2  for kings and all those in authority, that we may live peaceful and quiet lives in all godliness and holiness.  3  This is good, and pleases God our Savior.

This week, Jeremy Daniel concluded our Christmas Grace series with a message from Matthew 1-2. In the incarnation, Christ stepped down to bring hope, push back darkness, and establish His eternal kingdom. Because of who Jesus is and what He has done, we are invited to enter in, stand firm, push back in faith, and bow down in worship before our incomparable King.

This week, Pastor John continued our Christmas Grace series with a teaching from Titus 2, reminding us that Christmas is the story of grace appearing in the person of Jesus. In Christ, God's grace came near to redeem us, reshape us, and give us lasting hope. This appearing grace not only saves us but makes us God's own people, stirring our hearts toward lives marked by gratitude and good works.

We continue our sermon series Christmas Grace as our NextGen Grow Pastor, Drew Humphrey, preaches from Colossians 1. "The Dawn of Redeeming Grace" Colossians 1:15-20Colossians 1:15 GRACE THAT IS SEEN Jesus was not the first being created, and yet Jesus was born."There is no God in Heaven who is unlike Jesus." - Michael ReevesColossians 1:19GRACE THAT IS FULL 1. Grace In MeColossians 2:6-7a 2. Anti-Grace Around MeColossians 2:83. Grace Through MeColossians 2:9-10 Colossians 1:20 GRACE THAT REDEEMS Ultimate Reconciliation: YesUniversal Salvation: No

This week, Pastor John launched our Christmas Grace series by showing that when grace is missing, everything in life becomes distorted. From John 1, we're reminded that Christ is God's answer to our deepest need. In Him, truth and grace come together so we can see the gospel with stunning clarity.

This week, Pastor John led us in our annual Cross of Christ service with a message from 1 Corinthians 11:23–26. As we take the bread and the cup, we boldly declare that we are not ruled by sin, not hopeless in life, and not finished in death. In Christ, our sins are forgiven, our lives belong to Him, our hope is secure, and our King is returning.