A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Anthropic is reportedly in early talks to rent Azure servers powered by Microsoft’s $MSFT Maia AI chips, per The Information. The move would further deepen Microsoft’s relationship with Anthropic, after Microsoft pledged up to $5B to the company, Anthropic committed $30B in Azure spending, and Microsoft began reselling Claude through Azure. The chip angle matters because Maia is being positioned as a lower-cost option than Nvidia’s $NVDA GPUs for certain inference workloads, rather than a replacement for frontier AI training. Anthropic already uses chips from Amazon $AMZN, Google $GOOGL, and Nvidia $NVDA, and Microsoft now wants Maia to become part of that mix.

2. Nvidia $NVDA PT's were raised across the street with the highest of $500 at Baird. The firm says Nvidia continues gaining market share in AI inferencing and across hyperscalers, while adoption of the upcoming Vera Rubin platform at frontier model companies is expected to exceed that of Blackwell. Baird also believes Vera’s standalone performance could significantly outperform traditional x86 CPUs, opening an additional $200B TAM opportunity for Nvidia, which already has visibility into nearly $20B in CPU revenue this year alone. Looking ahead, the firm expects annual AI infrastructure spending to grow from over $1T in 2027 to roughly $3–4T by 2030 as agentic AI proliferates across industries, while reiterating Nvidia as one of its top investment ideas.

3. U.S. initial jobless claims came in at 209,000, slightly below expectations of 210,000, signaling the labor market remains relatively stable.

4. OpenAI reportedly generated about $5.7B in Q1 revenue, roughly $1B ahead of Anthropic, per The Information. Anthropic could narrow that gap quickly, with its recent annualized revenue reportedly nearing $45B compared to OpenAI’s $25B annualized run rate in February. Anthropic is also projecting nearly $11B in Q2 revenue and about $600M in operating profit. OpenAI’s Q2 outlook was not reported, but The Information said growth has been supported by Codex, enterprise sales, ad tests, GPT-5.5, and image generation.

5. Walmart $WMT reported earnings this morning, with EPS of $0.66 coming in line with expectations and revenue of $177.8B beating estimates of $175B. Despite the revenue beat, the stock fell 7% after the company lowered guidance and warned it would raise prices on certain consumer goods.

6. Starbucks $SBUX has reportedly retired a worker-facing AI tool designed to automate inventory counts and help address product shortages, according to Reuters. The program was shut down this week, just nine months after being rolled out across North American stores.

7. A reported draft agreement between the U.S. and Iran has reportedly been reached through Pakistan-mediated talks, with an official announcement expected within hours. The deal is said to include an immediate comprehensive ceasefire across all fronts, along with commitments from both sides not to target infrastructure. The agreement would also guarantee freedom of navigation through the Persian Gulf and Strait of Hormuz under a joint monitoring mechanism. In exchange for Iran’s compliance, sanctions would reportedly be gradually lifted, while negotiations on unresolved issues are expected to begin within seven days.

8. $AMD AMD announced more than $10B in investments across Taiwan’s ecosystem to expand advanced packaging capacity and accelerate next-generation AI infrastructure deployments. The company highlighted products ranging from its 6th Gen EPYC CPUs, codenamed “Venice,” to its Helios rack-scale AI platform featuring Instinct MI450X GPUs, with multi-gigawatt deployments expected to begin in the second half of 2026. AMD also said it reached another key production milestone with TSMC, as Venice EPYC CPUs are now ramping on TSMC’s 2nm process technology in Taiwan, with future plans to expand production to TSMC’s Arizona fabrication facilities.

9. The U.S. is preparing to award $2B to nine quantum companies through the CHIPS and Science Act while also taking minority equity stakes. IBM is expected to receive $1B, GlobalFoundries $375M, and other recipients including $QBTS D-Wave, $RGTI Rigetti, $INFQ Infleqtion, Atom Computing, PsiQuantum, and Quantinuum are expected to receive $100M each. Diraq is expected to receive $38M. The deals would combine grants with government equity stakes, though they still need to be finalized.

10. The Pentagon is testing AI models from OpenAI, Google, and others as it looks for alternatives to Anthropic’s Claude, per Bloomberg. The tests began in March with 25 heavy users of the Defense Department’s AI tools across five military theater commands. The move follows Defense Secretary Pete Hegseth designating Anthropic as a supply-chain risk over its model guardrails, a designation Anthropic is now challenging in court. Claude is currently used heavily in the Pentagon’s Maven Smart System, including classified operations.

11. Oura, the maker of the popular smart ring, has reportedly filed confidentially for an IPO and plans to go public later this year, per Bloomberg. The company’s growth is the main story: revenue is expected to reach $1.5B in 2026, up from $500M in 2024, while total rings sold have climbed to 5.5M from 2.5M in mid-2024. Oura was last valued at $11B.

12. A Bank of America survey shows investors are increasingly worried the Federal Reserve may need to raise interest rates again. According to the survey, 14% of investors believe conditions for a hike are already in place, while 38% think the Fed would tighten policy if core inflation rises to 3.5%–4%, regardless of labor market strength. Overall, more than half of respondents see rate hikes as possible under certain inflation scenarios, reflecting renewed concern about persistent inflation pressure.

I will also be launching a product tomorrow morning at 10AM EST that I think many retail investors will enjoy. 100% free. See you then!

WALL STREET IS THE GREATEST SHOW ON EARTH.

Bill Ackman 抄底了 $MSFT 和 $META 。过去 $GOOG 和 $AMZN 都取得了不错的收益（虽然较之于半导体并没有特别强）。

其实我想说的是，抄底美国这些基本面极强的大公司是不可能输的。 $MSFT 和 $META 再怎么逆风都是印钞机，只是他们不会是最强的股票，但是他们是最稳健，你觉得一个每年赚七八百亿美元股票，每年增速那么快，每年回购，股票有可能一直跌吗？

我的长期仓位里面是包含着两个股票的， $MSFT 是最近加入的, 390建仓， $META 则一直持有。

但是有人肯定会说，$MSFT和$META 如何如何拉垮，$MU 和 $SNDK 涨得多么多么的厉害，让人买 $MSFT 就是反指。

这取决于你的目的，如果你的目的是储存财富，那我觉得买 $MSFT 和 $META 就没问题，因为他们在创造财富，他们大二不倒，他们持续增长。放在几年的尺度，十年尺度，他们的风险几乎为0。这不是我的观点，是无数养老基金和主权基金的观点，因为他们愿意买他们几十年的企业债。

而暴涨的股票永远都是博弈，确实会有些股票会因为基本面完全改善而一飞冲天，但是收益越高，风险越大，你想要几倍的收益就要做好腰斩的准备。这是不同的目的。

Noah: JUST IN:

Bill Ackman is buying the big tech dip

In 2022 he called:
$GOOGL at $90→ +300%

In 2025 he called:
$AMZN at $170→ +65%

Now he’s giving you:
$MSFT at $410
$META at $620

Are you going to miss out again?

OpenAI 全面转向ToB业务。

AI coding已经被完全证明是高端AI产品盈利以及扩张的康庄大道。

下周Google I/O 如果连一个官方CLI都不拿出来。那Google AI的叙事可能就走不下去了，要和 $AMZN $MSFT 走一条路了。

Max Zeff: Scoop: OpenAI announced another major reorg on Friday, as part of its effort to unify ChatGPT and Codex.

-Greg Brockman is officially taking over OpenAI's products, after previously being tapped as an interim leader
-Head of Codex, Thibault Sottiaux, is now leading core product

RT Investing visuals
The AI data center bottlenecks map & key players:

Demand:
• $MSFT
• $GOOGL
• $META
• $AMZN
• Leading LLM providers

Layer 1 - Systems & colocation:
• $DELL
• $HPQ
• $SMCI
• $EQIX
• $DLR

Layer 2A - Memory:
• $MU
• $HYNSE
• $SMSD

Layer 2B - Networking & optics:
• $AVGO
• $COHR
• $MRVL

Layer 2C - Power & cooling:
• $VRT
• $ETN
• $BE

Layer 3 - In-rack connectivity:
• $AVGO
• $ALAB
• $CRDO

Layer 4 - Foundry & packaging:
• $INTC
• $ASX
• $TSM
• $AMCR

Layer 5 - Semiconductor equipment:
• $ASML
• $AMAT
• $LRCX
• $KLAC

Note that this isn't an exhaustive list, but rather an overview of the most important businesses per segment.

I hope you found this breakdown insightful!

I've covered the supply chain in more detail in the article linked below.

Investing visuals: I just published my latest research article: The AI data center bottlenecks map, covering:

• The AI supply chain
• The key players at critical bottlenecks
• Where to look as constraints move down the supply chain

I loved diving into this over the past few weeks with the goal

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. $CBRS Cerebras opened about 75% above its expected IPO price of $185, giving the AI chip company a roughly $100B market cap despite generating $585M in revenue last year. Ark Invest also bought 105,616 shares just one day after the IPO, adding more attention to the name. The momentum is set to continue with LeverageShares launching a 2x leveraged Cerebras ETF tomorrow morning.

2. President Trump submitted his latest stock purchase and sale disclosures to the White House Office of Ethics, with the filing reportedly spanning more than 100 pages and including thousands of trades. The disclosure is notable because it shows a sitting president actively trading individual securities rather than only holding assets like corporate debt, index funds, or Treasuries. Some of the names listed as purchases include $PLTR, $HOOD, $NVDA, $SOFI, $MSFT, $AAPL, $DIS, $V, $ULTA, $JPM, $COIN, $LYFT, $AMZN, and $RKLB.

3. The U.S. has approved around 10 Chinese companies to purchase Nvidia’s $NVDA H200, the company’s second-most powerful AI chip. Nvidia hit an all time high at $240 today.

4.Figure AI has been livestreaming its humanoid robots performing real warehouse-style package sorting tasks using its Helix-02 AI system. The robots pick up, scan, rotate, and place packages onto conveyor belts autonomously while operating for extremely long periods, including a reported 24/7 run after initially targeting an 8-hour shift. The livestream is meant to prove that humanoid robots can handle repetitive labor reliably and economically, rather than just perform flashy demos. Many viewers see it as one of the first convincing demonstrations of commercially viable humanoid labor, especially for warehouses and logistics. The robot has so far dealt with 34K packages live and has reached parity with a human worker that can do 3 every second.

5. The most traded stocks in the options market today were $NVDA with 5.0M contracts, $TSLA with 2.5M, $NOK with 889K, $F with 860K, $ONDS with 849K, $INTC with 814K, $AAPL with 752K, $MSFT with 736K, $MSTR with 670K, and $MU with 644K.

6. Semiconductor leverage flows surged, with $SOXL, the 3x long semiconductor ETF, taking in a record $1.03B on Tuesday. At the same time, $SOXS, the 3x short semiconductor ETF, saw $230M of outflows, its largest daily withdrawal since late March. $TQQQ also added $161M, its biggest inflow since March 31, but $SOXL inflows were more than 6x larger as traders concentrated bullish exposure in semiconductors. Since the March 30 bottom, $SOXL is up 354%, its strongest 31-day gain since launching in 2010, while the $SOX semiconductor index is up 68%, its third-best 31-day run on record.

7. Retail investors are buying stocks at one of the fastest paces in years. Year-to-date retail equity inflows are ahead of every comparable period over the last seven years except 2021, and after slowing briefly in March, retail buying jumped sharply in April. The week ending May 1 ranked in the top 2% of weekly retail inflows since 2019, and at the current pace, individual investor purchases could surpass the 2021 record as soon as July. Retail options activity is also elevated, with average daily volume now at 1.57x January 2024 levels, the highest since the October 2025 peak.

8. SpaceX could release its IPO prospectus as soon as next week, according to CNBC, after confidentially filing in April. The company’s roadshow is expected to start June 8, with SpaceX reportedly targeting one of the largest public offerings ever following its merger with xAI at a combined $1.25T valuation. The IPO could raise around $70B-$75B, which would be more than twice the size of Saudi Aramco’s record 2019 listing.

9. AI data center demand is putting pressure on power costs across PJM, the largest U.S. grid, which serves 67M people across 13 states and Washington, D.C. Wholesale power prices averaged $136.53/MWh in Q1 2026, up 75.5% from $77.78/MWh a year ago. Capacity costs rose 398.1% year-over-year, while congestion costs increased 300.4% to $2B.

10. Tech layoffs have now passed 100,000 in 2026, with TNW reporting cuts across roughly 250 events this year. LinkedIn is reducing headcount by about 5% despite 12% revenue growth, while Cloudflare is cutting more than 1,100 roles, or about 20% of its workforce. AI is becoming a major driver of the reset, with Challenger citing it as the top reason for job cuts in both March and April and linking AI to 49,135 announced layoffs so far this year.

11. President Trump said President Xi told him China will not supply military equipment to Iran and supports a peace agreement. Trump also said Xi offered to help mediate the situation and work toward reopening the Strait of Hormuz, a critical shipping route for global oil flows.

12. The CLARITY Act advanced out of the Senate Banking Committee today in a 15-9 bipartisan vote. The bill would create clearer federal rules for crypto, including when tokens are treated as securities versus commodities. Crypto stocks rallied on the news, including Coinbase, as investors viewed it as a major step toward regulatory certainty. The bill still is not law and needs full Senate approval, House reconciliation, and final passage. The main fights now are over stablecoin rewards, anti-money-laundering rules, and ethics concerns tied to political figures profiting from crypto. $BTC Bitcoin passed $81,000.

WALL STREET IS THE GREATEST SHOW ON EARTH.

PRESIDENT TRUMP JUST SUBMITTED HIS STOCK PURCHASES/SALES TO THE WHITE HOUSE OFFICE OF ETHICS.

The document is over 100 pages and has thousands of trades.

This is one of the first times we've seen a sitting President actively trade securities and not just sit in corporate debt, index funds, or treasuries.

Here are some of the names that Trump bought:

$PLTR, $HOOD, $NVDA, $SOFI, $MSFT, $AAPL, $DIS, $V, $ULTA, $JPM, $COIN, $LYFT, $AMZN.

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Stocks opened lower today as investors reacted to hotter inflation, rising oil prices, and renewed concerns around interest rates. The selloff was led by tech, AI, and semiconductor names, but the market recovered some of the early weakness into the close as buyers stepped back into select mega-cap and earnings-driven stocks. The S&P 500 $SPX still finished slightly lower, the Nasdaq $QQQ underperformed, and the Dow managed to close slightly higher, showing that the early risk-off move faded but did not fully reverse across the whole market.

2. The probability of the Fed raising interest rates in 2026 has surged to a new high of 31% after U.S. CPI inflation hit its highest level in three years. Just a few months ago, markets were pricing in more than three rate cuts this year, but those cuts have now been completely priced out. Headline CPI rose 3.8% versus 3.6% expected, marking the hottest inflation print since May 2023, while core CPI rose 2.8% versus 2.6% expected, the highest reading since September 2025. Energy was the biggest driver, accounting for more than 40% of the increase.

3. $CME CME Group is partnering with Silicon Data to launch the first futures market tied to compute, pending regulatory approval. The contracts are expected later this year and will be based on Silicon Data’s GPU market intelligence indices, giving traders, AI builders, cloud providers, and financial institutions a way to hedge price volatility in the fast-growing compute market.

4. Cerebras is reportedly seeing very strong IPO demand and has raised its planned range to $150-$160 per share, up from $115-$125, while increasing the offering to 30 million shares. At the high end, the company could raise about $4.8B and be valued around $35B, with pricing expected on May 13 and a Nasdaq listing under $CBRS. The IPO story is being driven by AI compute demand, Cerebras’ OpenAI relationship, and reports that the deal is more than 20x oversubscribed. The IPO will be this Thursday.

5. The top 10 most traded stocks in the options market were $NVDA with 3.6M contracts, $TSLA with 3.0M, $MU with 1.0M, $INTC with 999K, $AAPL with 829K, $AMZN with 528K, $NOK with 499K, $NFLX with 494K, $MSFT with 451K, and $AMD with 436K.

6. OpenAI reportedly renegotiated its $MSFT Microsoft agreement to limit total revenue-share payments to $38B, far below the roughly $135B Microsoft could have received under the prior structure if OpenAI hit its long-term revenue targets. The change could reduce OpenAI’s payments by about $97B through 2030, giving the company a cleaner long-term financial profile ahead of a potential IPO. The trade-off is that OpenAI may have to pay more in the near term, reportedly around $6B of its projected $30B in revenue this year instead of the roughly $4B it previously expected, while Microsoft keeps payment rights through 2030 and resale rights through 2032.

7. $DRAM became the fastest ETF ever to reach $6.5B in assets, hitting that mark in just 36 days, even faster than $IBIT, which took 43 days. The move came after a 13% jump on Friday and another $1B of inflows, showing how aggressively investors are chasing the memory trade. $MU also got a major vote of confidence as Deutsche Bank raised its price target to $1,000 after investor meetings with Micron management. The key takeaway was that AI is changing the memory cycle: DRAM, NAND, and HBM are becoming essential to AI performance, while supply remains constrained by clean room limitations, slower scaling, and HBM production trade-offs. Deutsche Bank said Micron is well-positioned because of its technology leadership, stronger business mix, and one of the healthiest balance sheets in company history.

8. $GOOGL Google is reportedly exploring SpaceX as a launch partner for future AI data centers in orbit, while also speaking with other rocket companies. The effort connects to Google’s Project Suncatcher, which is already planning to launch two prototype satellites with Planet by early 2027 to test solar-powered AI compute in space using TPUs and optical links. SpaceX is pursuing a similar orbital data center strategy, meaning the two companies could eventually work together on launches while competing to own the space-based compute market.

9. Market breadth is weakening even as the headline index keeps rising. Only 22% of S&P 500 stocks have beaten the index over the last 30 days, one of the weakest readings since 1996 and a sharp drop from 65% in February. The rally is increasingly concentrated in mega-cap tech, with the Magnificent 7 now making up about 35% of the S&P 500 and Information Technology plus Communication Services representing 46% of the index’s market value.

10. Anthropic is reportedly discussing a massive new funding round of at least $30B at a valuation above $900B, with Bloomberg saying the deal could close by the end of May, though no term sheet has been signed yet. Existing investors may participate, following recent commitments from Google and Amazon tied to a prior $350B valuation. The potential raise would mark a huge jump from Anthropic’s February 2026 valuation and place it near OpenAI’s latest reported valuation, as the Claude maker also reportedly considers an IPO as soon as October.

11. $PLTR Palantir was back in the defense AI spotlight after Ukrainian President Volodymyr Zelensky met with CEO Alex Karp in Kyiv to discuss expanding Ukraine’s use of AI in the war. Zelensky said the two sides discussed technology for both battlefield and civilian needs, while Ukraine’s defense team highlighted Palantir’s role in helping analyze air strikes, manage intelligence data, protect Ukrainian skies, and support AI tools for detecting and intercepting Russian drones. Palantir is also tied to the U.S. “Golden Dome” missile-defense push, with Reuters reporting that Palantir and Anduril are working on software for the system.

12. President Trump today said this before leaving for his trip to China: "You're going to see oil prices drop and you're going to see a stock market which is already at the highest point in history, go through the roof."

WALL STREET IS THE GREATEST SHOW ON EARTH.

？这样微软不是亏麻了吗？ $MSFT 居然没有大跌。

这揭示了一些事情，拿投资换云订单的公司，很多时候并没有正常的获得股权，他们有很多附加协议。所以无论是 $AMZN 还有 $GOOG 他们可能都没有获得Anthropic很高比例的股权。

Wall St Engine: OPENAI CAPS MICROSOFT REVENUE SHARE AT $38B

Under the old structure, Microsoft’s 20% revenue share could have reached roughly $135B if OpenAI hit its long-term targets.

The Information reports the renegotiated deal caps total OpenAI payments to Microsoft at $38B.

That could

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here’s a full recap:

1. The $SPX S&P 500 and $QQQ Nasdaq closed at fresh all-time highs today, even with oil spiking and U.S.-Iran peace talks stalling. The market is basically saying AI earnings momentum is more important than geopolitical risk right now. The PHLX Semiconductor Index rose 2.6%, with semis now comprising 17% of the S&P 500.

2. The optical networking trade continues to gain momentum. $LITE Lumentum surged after being added to the Nasdaq 100, while peers like $COHR Coherent and $GLW Corning also benefited from the AI data center connectivity theme. This is becoming one of the clearest “picks and shovels” trades in AI infrastructure. $LITE Lumentum’s move matters because the market is realizing AI is not just about GPUs. It is also about optical transceivers, lasers, fiber, switches, power, cooling, copper, glass, and every bottleneck inside the data center stack. The AI trade is expanding from chips into the entire physical infrastructure layer.

3. $TSLA Tesla was in focus after the White House invited Elon Musk, alongside more than a dozen top U.S. executives, to join President Trump’s trip to China this week. The delegation includes Apple’s Tim Cook, and BlackRock’s Larry Fink with other executives from Goldman Sachs, Cisco, Mastercard, Citi, Meta, Micron, and more. The trip is expected to focus on U.S.-China trade and investment, potential Boeing aircraft purchases, agriculture, energy, and possibly extending the rare earths truce, making Musk’s inclusion important given Tesla’s exposure to China manufacturing, demand, and supply chains. Jensen Huang $NVDA and Lisa Su $AMD were not invited as per Reuters.

4. Oil jumped again as the U.S.-Iran situation remained unresolved, with Brent crude moving above $104 and the Strait of Hormuz risk still hanging over the market. This is the main bear case investors are watching: if oil keeps rising, inflation expectations can come back and pressure the Fed. CPI will be reported tomorrow with expectations of a 3.7% print, the highest in 2.5 years.

5. Per Jeffries: "47% of semis/hardware stocks are screening overbought on 14-day RSI (high was 70% in Dec '23, 66% on April 24) as of Friday's close. The SOX is now 60% above its 200-day moving average, a level not seen since March 2000 and July 1995."

6. Earnings season continues to come in strong. Reuters reported that 440 S&P 500 companies $SPX have reported, with 83% beating estimates and Q1 earnings growth now projected at 28.6% year-over-year. That is why the market keeps absorbing bad macro headlines.

7. $CBRS Cerebras increased its planned IPO price range as investor demand for AI chip exposure remains extremely strong. The company is now looking to sell 30 million shares at $150 to $160 each, potentially raising up to $4.8 billion. The AI IPO window is officially open again.

8. $CRCL Circle reported a 20% increase in quarterly revenue and reserve income to $694 million, helped by rising demand for USDC during a volatile period. USDC circulation grew 28% year-over-year to $77 billion, showing that stablecoins are becoming a bigger part of the financial infrastructure story.

9. The most traded options today were $TSLA with 5.5M contracts, $NVDA with 4.8M, $MU with 1.1M, $INTC with 1.0M, $AAPL with 1.0M, $NOK with 886K, $META with 637K, $AMZN with 621K, $MSFT with 591K, and $AMD with 514K.

10. $HIMS Hims & Hers reported Q1 revenue of $608M, up 4% YoY, with subscribers growing 9% YoY to nearly 2.6M. The company raised full-year 2026 revenue guidance to $2.8B-$3.0B, but profitability moved lower as gross margin fell to 65% from 73%, net loss was $92M, and adjusted EBITDA declined to $44M from $91M last year. Management said 2026 is a “defining year” as the company expands branded GLP-1 offerings, international markets, diagnostics, and technology infrastructure.

11. $ASTS AST SpaceMobile reported Q1 revenue of $14.7M and said it remains on track for full-year 2026 revenue guidance of $150M-$200M. The bigger story is deployment: BlueBird 8, 9, and 10 are expected to launch in mid-June, BlueBird 11 through 33 are already in advanced production, and the company is targeting roughly 45 satellites in orbit during 2026. ASTS also received FCC authorization for commercial SpaceMobile service in the U.S., hit 98.9 Mbps peak data speeds from an in-orbit satellite to an unmodified smartphone, and ended the quarter with about $3.5B in cash

12. China is also in focus ahead of a Trump-Xi summit, with Chinese stocks $BABA $KWEB $JD hitting an 11-year high and the yuan reaching a three-year peak. Investors are watching whether the U.S. and China could coordinate around trade, Iran, and global supply chains.

I used to do these recaps a year ago...have gotten a bit busy but looking to bring them back...would people like them at the end of the day? I use AI to help summarize the events but the real time (around 30-40 min daily) comes in curating the best headlines and including the relevant details. Happy to start it again if people want it back!

WALL STREET IS THE GREATEST SHOW ON EARTH.

I’ll only say this once:

The next 1 to 4 years will determine whether you build generational wealth or spend the rest of your life watching other people live the life you could have had.

NEW infrastructure is being built *right now.*

AI, Robotics, Automations. Its all HERE.

This is not a drill. This is not hype.

This is THE window of a lifetime.

The physical backbone of the next economy; power, compute, orbit, optical networking is being funded, contracted, and locked in right now.

The capital is moving.
The deals are being signed.
The positions are being taken.

The only question is whether your name is on any of them.

You want to know what this moment looks like from the other side?

It looks like 2010 and you didn’t buy $AMZN.
It looks like 2013 and you didn’t buy $TSLA.
It looks like 1995 and you watched the internet happen to other people.

THIS is that moment. Right now. Today.

And it will not wait for you to get comfortable.

So here’s what you need to do.

Wake up. Handle your 9-5.
Run. Lift. Eat clean.
Be present for your kids. Be there for your wife.

Every hour left after that?

>You research<

Not scroll. Not watch. Not casually browse.

You study like your family’s financial future depends on it.

Because it does.

Be obsessive.

Think deeply about it.

Or follow people who think deeply about it.

Study what the world needs to build next, and which companies sit at those bottlenecks.

But don’t sleepwalk through the most important investing window of your generation.

$IREN $NBIS $CIFR $AAOI $RKLB

These are positions in the infrastructure of the next 20 years.

The kind you hold while everyone around you panics.

The kind you look back on in 10 years and can’t believe you had the chance to buy.

Most people will miss this.

Not because the information wasn’t available.

Not because it was too complicated.

Because they didn’t take it seriously enough.

Don’t be that person.

The window is open.

It won’t be open forever.

-BP

Reminder: this is not financial advice.

Colleague at lunch today going on about how he finally bought $NVDA .

Said it like he discovered fire.

I nodded. Asked how it was going. He said he was up a bit, felt good about it. Asked what I own.

I started to explain. Got one sentence into $IREN before his eyes glazed.

Tried $ONDS. He asked if that was a pharma company.

I mentioned $RKLB and he said “oh like Virgin Galactic?”

I stopped explaining. Smiled. Said “yeah, something like that.”

Here’s what I actually own:

$IREN
4.5GW secured power. $9.7B Microsoft deal. The hyperscaler for hyperscalers.

$NBIS
$50B+ contracted backlog. Goldman at $205. NVIDIA invested $2B.

$CIFR
$AMZN + $GOOG colo. AWS capacity starts July.

$ONDS
Only FAA-certified autonomous drone company in the US. 605% revenue growth.

$RKLB
$1.85B backlog. The only real commercial SpaceX alternative.

$AAOI
$200M hyperscaler transceiver order. $1B+ 2026 revenue guidance.

$AMPX
Batteries. 2.5x Q1 revenue growth.

$PNG.V
Anduril supply chain. NATO naval modernization.

$OUST
Digital lidar. Autonomous infrastructure layer.

He would not have known a single one.

That is not a criticism. That is the SIGNAL.

The names nobody recognizes at the lunch table are the names still in the entry window.

-BP

Not financial advice. Do your own research.

Claude又出10 个面向金融服务的 agent 模板，走的和OpenAi还在发布最新模型5.5不一样的路

Claude 全面进入高附加值金融白领日常工作流

过去 SaaS 公司卖的是一个个 workflow 页面。现在 Claude 说，我直接进入你每天打开的 Excel、PPT、Word、Outlook，替你完成一段金融工作。

这不是聊天工具…

基本上所有SaaS那种靠表单、流程页面、简单自动化、轻量工作流收钱的软件。它们以前的价值在于把一个流程做成页面，现在已死

因为不用迁移和摩擦成本直接在微软办公软件上跑

对于云服务商是利好，推理量增加，它会带来稳定、高价值、长上下文、多工具调用的推理需求。这对云和 AI 基础设施股票是正面的。

Microsoft 365 作为平台掌握企业数据和办公入口，但是风险在于定价模式和溢价消失，而相对看Google有着巨大的系统的软硬件/模型的云服务优势

因为agent 智能体越成功，云使用量越高。但谁控制 agent 入口，谁才有更强的利润解释权，只提供云服务比如亚马逊肯定不如谷歌打包的服务溢价强。

现在重大的范式转移在于，高价值 token 正在变成真实工作，而不是聊天。虽然正如我在订阅内容提出的现在还存在巨大高价值企业和广泛的扩展gap

但是以前我们以为模型公司只卖“智能”，SaaS 公司负责工作流。而现在模型公司开始自己包装 workflow，把 SaaS 的中间利润往自己这里拉。

如果这种模式从金融扩散到法律、保险、医疗、工业、供应链，AI capex 就有更可靠审计的回报路径。

但如果它只停留在金融和少数高价值行业，那 AI 仍然是高端生产力工具，不足以支撑全市场对 AI 基础设施的全部乐观定价。

$GOOG $AMZN $MSFT $SOXX $IGV $INTC

亞馬遜終於開始 monetize 它最被低估的資產——物流網絡
就像當年把內部 IT 基礎設施開放成 AWS 一樣，今天亞馬遜宣布把 80,000 輛拖車、24,000 個貨櫃、超過 100 架飛機開放給外部企業使用。

競爭對手股價聞訊暴跌，恐慌是合理的。
因為亞馬遜的物流已經把配送速度推到「1 小時」這種近乎瘋狂的標準。

那為什麼要把其電商的「最強武器」開放給第三方？
邏輯很清楚：讓外部企業用你的物流網絡 → 提高市佔和服務密度 → 單位成本下降 → 閃送能力更強 → 競爭對手沒錢追上。

但問題來了：把祕密武器賣給 Shopify/eBay，不是在養肥敵人嗎？
魔鬼在細節。亞馬遜開放的是 2-5 天送貨，最強的護城河 —— 1-3 小時都市閃送，不在開放清單裡。

本猿一直在等亞馬遜在 AI 時代貨幣化它用 30 年建立的實體資產——不只是雲端。
當物流快到沒有對手能複製，電商體驗就變成了 AI 時代最難打破的護城河：就連競爭對手的 AI 助理，最終也只能建議用戶去亞馬遜買東西！

華爾街分析猿: 亞馬遜的「恐懼指數」再度發威 🔥

$AMZN 利用龐大的零售業務帶來的獨家購物數據優勢，以僅為市價 1/7 的抽成打造程式化廣告平台，正正瞄準 The Trade Desk 的飯碗。

結果 $TTD 股價 5 天內暴跌逾 40%，全年累跌近 60%。