By Elric Langton | 10 July 2025
It appears capAI has pulled the old Delaware trick out of the AIM handbook β setting up a US subsidiary and invoking the seductive mythology of Silicon Valley. The announcement ofΒ CapMedia Inc.Β feels less like a credible transatlantic expansion and more like a hastily prepared stage prop ahead of what smells very much like aΒ heavily discounted placing.
Letβs be blunt: this is a classic AIM lifestyle PLC play, a new narrative, a new name, a new "platform", a new jurisdiction. But the same old underlying issues: no revenue, no traction, no clarity of purpose.
The timing is just too convenient. I previously highlighted the companyβs terminal financial health at the end of May: