{
  "generatedAt": "2026-10-22T16:04:11Z",
  "disclaimer": "Analysis and opinion, not investment advice.",
  "kind": "person",
  "slug": "distillate-capital-partners-llc",
  "name": "Distillate Capital Partners LLC",
  "role": null,
  "url": "https://deepstack.ltd/people/distillate-capital-partners-llc/",
  "api": "https://deepstack.ltd/api/v1/entities/people/distillate-capital-partners-llc.json",
  "summary": "Distillate Capital Partners LLC is named in 2 Parts of The Buildout, most recently Part 16: The Seller Holds the Paper. Argued in Part 12 (The filing sets the price), Part 16 (The seller funds its demand).",
  "parts": [
    {
      "part": 12,
      "headline": "The Model Is Not the Price",
      "url": "https://deepstack.ltd/stories/the-model-is-not-the-price/"
    },
    {
      "part": 16,
      "headline": "The Seller Holds the Paper",
      "url": "https://deepstack.ltd/stories/the-seller-holds-the-paper/"
    }
  ],
  "numbers": [],
  "mentions": [
    {
      "part": 12,
      "section": "Lede",
      "excerpt": "Distillate Capital Partners LLC, on July 15, counted roughly $180 billion committed by the hyperscalers and Nvidia to the two labs, about $1.1 trillion of compute pledged back, and $53 billion of first-quarter hyperscaler net income, 34% of the total, booked as non-cash marks on those stakes.",
      "url": "https://deepstack.ltd/stories/the-model-is-not-the-price/"
    },
    {
      "part": 16,
      "section": "The seller funds its demand",
      "excerpt": "Distillate Capital Partners LLC wrote on July 15 that hyperscalers and Nvidia had committed about $180 billion to OpenAI and Anthropic, which pledged about $1.1 trillion of compute spending back.",
      "url": "https://deepstack.ltd/stories/the-seller-holds-the-paper/"
    }
  ],
  "sides": [
    {
      "part": 12,
      "question": null,
      "side": "the-filing-sets-the-price",
      "sideLabel": "The filing sets the price",
      "claim": "Circular financing distorts the picture: hyperscalers and NVIDIA have committed roughly $180 billion to OpenAI and Anthropic, which pledge about $1.1 trillion of compute spending back to them against far smaller revenues, and $53 billion of…",
      "date": "2026-07-15",
      "url": "https://fiscal.ai/fund-letters/distillate-capital-partners-llc-q2-2026-fscl_document_3BZX2NEX647",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-model-is-not-the-price/",
      "sidesUrl": "https://deepstack.ltd/sides/the-model-is-not-the-price/"
    },
    {
      "part": 16,
      "question": null,
      "side": "the-seller-funds-its-demand",
      "sideLabel": "The seller funds its demand",
      "claim": "Circular financing distorts the picture: hyperscalers and NVIDIA have committed roughly $180 billion to OpenAI and Anthropic, which pledge about $1.1 trillion of compute spending back to them against far smaller revenues, and $53 billion of…",
      "date": "2026-07-15",
      "url": "https://fiscal.ai/fund-letters/distillate-capital-partners-llc-q2-2026-fscl_document_3BZX2NEX647",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-seller-holds-the-paper/",
      "sidesUrl": "https://deepstack.ltd/sides/the-seller-holds-the-paper/"
    }
  ],
  "coverage": {
    "creators": 0,
    "claims": 61,
    "texts": 5,
    "asOf": "2026-10-22"
  },
  "lastUpdated": "2026-10-22"
}