The annual report and the quarterly report an American listed company files with the SEC. Chapter 10.
From The AI Compute Race. Read the book
Where the book uses it
- Chapter 10 — The Lender’s Decision
Who is lending the money and who bears the loss: the bonds, leases and guarantees behind the largest campuses, and how the paper reaches ordinary retirement accounts.
Where the record uses it
- Campus Project Matador / HyperGrid
- Scorecard indicator Microsoft Jun. quarter
Sources that use it
- Bloom Energy, “Bloom Energy Reports Record Third Quarter 2026 Financial Results and Raises Full Year 2026 Guidance,” release, 22 October 2026, and Bloom Energy, Form 10-Q for the quarter to 30 September 2026, filed 22 October 2026 (“Revenue of $1,235.8 million increased 138.1%”; the 10-Q: “Product revenue increased due to an increase in new acceptances and subsequent delivery of existing contracts, driven by continued demand for time-to-power solutions”; “even projects with our fuel cell systems have experienced increased scrutiny, data requests, and discretionary hearings which have resulted in permitting delays”; “we generally cannot sell our Energy Servers to a financier until permits are in hand”; neither document states a share of revenue from datacenters). In the Sources
- Caterpillar Inc., fourth-quarter and full-year 2025 results, Form 8-K Exhibit 99.1, 29 January 2026; Caterpillar Inc., Form 10-K for 2025, 13 February 2026 (its chief executive, Joe Creed: “With a record backlog, we enter the new year with strong momentum”; in Power Generation, “Sales increased in large reciprocating engines, primarily data center applications”; “The dollar amount of backlog believed to be firm was approximately $51.2 billion at December 31, 2025 and $30.0 billion at December 31, 2024”, “with the largest increase in Power & Energy”; “we are starting to see orders for prime power trend higher as data center customers look for alternative power solutions to keep pace with their growth”; neither filing says how much of the backlog is for data centers) In the Sources
- NVIDIA, “NVIDIA Partners With Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to Establish AI Compute Infrastructure Financing Platforms to Mobilize Over $500 Billion of Third-Party Capital,” press release, 10 August 2026 (six memoranda of understanding, with no allocations, funded amounts or definitive agreements disclosed, and NVIDIA’s own 10-Q warning that the preliminary arrangements may not result in definitive agreements; in the release, Jensen Huang: “In AI, compute is revenue”; the release’s own text: “NVIDIA compute is an investable asset — one which provides the lowest token cost, highest revenue and longest life”). In the Sources
- Talen Energy, “Talen Energy Announces Sale of Zero-Carbon Data Center Campus,” 4 March 2024; Talen Energy Corporation, Form 10-Q for the quarter ended 30 June 2024 (“its 960-megawatt Cumulus data center campus in northeast Pennsylvania to a major cloud service provider”; “In March 2024, AWS purchased substantially all the assets of Cumulus Data and certain other assets for gross proceeds of $650 million”, $300 million of it “expected to be received from escrow at the completion of certain development milestones”; a power purchase agreement to “supply up to 960 MW of long-term, carbon-free power to the Cumulus Data Campus from Susquehanna”, with “fixed-price power commitments that increase in 120 MW increments over several years” and an option for AWS “to cap their commitments at 480 MW”; an amended interconnection agreement to raise to 480 MW the power “sold and provided directly to load via transmission owned by that load and connected directly to Susquehanna (and not to the power grid)”, against which “In June 2024, Exelon Corporation and AEP filed a protest”; the 10-Q reports a FERC deficiency letter of August 2024 and no order) In the Sources
- Alphabet, Form 10-K for the year ended 31 December 2025 (operating cash flow $164.7 billion; capital expenditure $91.4 billion — 55.5 percent; Big Four median 62.9 percent vs 45.2 percent a year earlier on the companies’ filings). In the Sources
And 75 more: search the Sources.
Related terms
From the glossary of The AI Compute Race.
How to cite this page
Dryburgh, Lee S. “10-K, 10-Q.” In The AI Compute Race. DRYBURGH. https://dryburgh.com/vol1/glossary/10-k-10-q (accessed 2026-11-01).
BibTeX
@misc{dryburgh-10-k-10-q-2026,
author = {Dryburgh, Lee S.},
title = {{10-K, 10-Q}},
howpublished = {In \emph{The AI Compute Race}, DRYBURGH},
year = {2026},
url = {https://dryburgh.com/vol1/glossary/10-k-10-q},
note = {Accessed 2026-11-01}
}