大王进山

AVGO locking in 20GW of custom silicon demand by funding the buyers directly. that's not a chip company anymore, that's an AI infra empire 💪

whole AI complex red and NVDA barely moves, kinda boring being the safe one now lol who'd have thought 🫡

Eli Lilly new high after retatrutide showed ~30% weight loss in trials. that's bariatric-surgery numbers from a shot 💀 insane

wait so Google is making its own chips AT Intel now?? if even the hyperscalers trust 18A, maybe Intel foundry isn't as dead as everyone said. someone smarter explain to me 🙏

WWDC is here and this is the most important one in a decade 🚨 Apple is the last big tech name without a real AI story, and a Gemini-powered Siri plus an App Store AI agent could flip the entire narrative. Watch the stock on three things: does Siri actually ship, is there a paid AI tier, and how much of this is live in iOS 27 versus vaporware. High stakes for a trillion-dollar laggard. Not financial advice.

STI broke 5,100 but it is basically DBS, OCBC, UOB and Singtel carrying the whole thing. is this a real broad bull or just a bank-and-telco rally?? how much further before the rest of the market joins 🙋

Goldman says SpaceX capex hits 360 billion by 2028, that is a country-sized number 🚀 June 12 cannot come fast enough

Everybody is chasing the AI chips and totally sleeping on the optics 🚨 here is the thing: those GPUs are useless if you cannot connect them, and the connection is light, not copper. 800G demand nearly tripled in a year and the laser supply is sold out into 2027. Lumentum and Coherent are sitting on the exact bottleneck the whole industry needs, and Nvidia just threw billions at them to cut the line. This is one of the most asymmetric corners of the AI trade right now, and most retail is not even looking at it.

SpaceX listing June 12 at a $1.75 trillion valuation and raising $75 billion 🚀 meanwhile I'm here doing math on whether I can afford even one share at $135. the gap between me and Elon widening by the day 😅

the SpaceX IPO valuation chatter is getting wild, people throwing around numbers like the thing is already trading 🚀 if it ever actually lists I think retail demand will be insane. just hoping us small guys get a real allocation and not only the big boys 🙏

ARM +16% today but NVDA only +6%. ARM is getting a bigger premium than the company actually building the chip?? Is the market pricing ARM as a picks-and-shovels play across the entire AI stack or is this just momentum?? 🙋 genuinely curious how people are valuing this

Is Meituan's core local commerce loss a Douyin problem or a deeper structural problem?? If Douyin keeps winning restaurant and local services discovery, what actually keeps Meituan's moat intact beyond delivery logistics?? 🙋 that feels thinner than it used to.

92.2% US membership renewal. 148.5 million cardholders. E-commerce +21.5%. I don't know what else you want from a retailer lah 💰 COST is just built different

Seatrium's Order Book and the Offshore Energy Investment Opportunity

Seatrium's Q1 2026 business update, with a net order book of SGD 15.5 billion and >SGD 28 billion in pipeline opportunities, positions the company at the intersection of two long-cycle capital expenditure themes: offshore oil and gas infrastructure renewal, and offshore wind energy development in the Asia-Pacific region.

The Macro Backdrop

With Brent crude above USD 93 per barrel, offshore oil and gas operators are back in active capex mode. Projects that were deferred during the 2020-2022 downcycle are now moving to final investment decision. Seatrium's Rigs and Floaters segment, along with Offshore Platforms, is a direct beneficiary of this spending reactivation.

Simultaneously, governments across Asia-Pacific, including Taiwan, South Korea, Japan, and increasingly Southeast Asian markets, are committing to large-scale offshore wind programmes. Each offshore wind farm requires a Wind Turbine Installation Vessel (WTIV), specialised crew transfer vessels, and substation platforms. This is precisely the work Seatrium is positioning to capture.

The Diversification Advantage

Unlike pure-play offshore drillers or wind-only fabricators, Seatrium's order book spans Oil and Gas, Offshore Wind, Repair and Upgrade, and Conversion projects. This diversification provides a natural hedge: when one energy segment faces headwinds, the others can compensate.

The Conversions segment is particularly interesting. As the global fleet ages and emissions regulations tighten, retrofitting existing vessels to LNG or alternative fuels becomes a growing market. Seatrium's dry dock infrastructure in Singapore positions it competitively for this work.

Key Risk

The SGD 15.5 billion order book provides revenue visibility, but project execution risk is real in complex offshore fabrication. Legacy project losses taught the market that contracted revenue does not automatically translate into profit. Investors should track gross margin progression in each half-year result as the most direct measure of whether execution quality has improved.

PDD Just Crossed a Line Nobody Noticed In Q1 2026, something happened at PDD that barely made the headlines. For the first time in the company's history, transaction service revenue overtook advertising revenue. Most people saw the headline numbers: revenue up 11%, operating profit up 22%. Decent, not spectacular. But that structural shift buried inside the report is actually the more important story. Here is why it matters. When PDD launched, it made money the way every e-commerce platform makes money: selling ads to merchants who wanted visibility on the platform. The more merchants competed for eyeballs, the more ad revenue PDD collected. That is a good business. But it is also a business with a ceiling, because ad budgets are finite and merchants eventually push back. Transaction service revenue is different. It is a cut of every sale that goes through the platform. As GMV grows, this number grows with it. And because PDD's take rate has been rising alongside volume, the math compounds in a way that ad revenue cannot match indefinitely. What this crossing-over moment tells us is that PDD's core commerce infrastructure has become strong enough to generate more value than its marketing layer. The flywheel is no longer dependent on selling ads to fund itself. It is funding itself through actual commerce. For regular investors watching this from the outside, the question worth asking is simple: which business model do you want to own over the next decade? One that sells attention, or one that takes a cut of every transaction? PDD just told us which one it is becoming.

MU and SK Hynix both crossed $1T market cap on the same day lah. The HBM duopoly is officially in the trillion dollar club, and Samsung is just sitting there with yield problems watching. This kind of supply constraint doesn't resolve in 6 months — new HBM capacity takes years to build 🏆

1/ Monday morning: Trump says deal "largely negotiated." Rubio says "good news within hours." WTI falls 8%. Energy stocks across the board drop 5%.

2/ Monday evening: Iran's Fars agency calls Trump's statement "incomplete and inconsistent with reality."

3/ Tuesday: Trump says deal "isn't even fully negotiated yet."

4/ Underlying blocker, unchanged throughout: Iran wants USD 100 billion in frozen assets released at signing. US says only after the Strait physically reopens. Nobody moved.

5/ The market moved. The deal didn't. 🇮🇷🇺🇸

The people who made 30% on QBTS yesterday bought before the news. The people buying QBTS today are paying for the news. Those two groups are having very different experiences right now, and one of them is going to have a very interesting week ahead. 😂

Goldman Sachs confirmed as lead left underwriter for SpaceX IPO. Morgan Stanley co-lead. Prospectus potentially this week.

This is not rumour. Bank appointments at this level don't happen until execution is weeks away, not months.

Valuation range in secondary markets: USD 1.25T to USD 1.75T. At the high end, larger than Saudi Aramco's 2019 listing.

The S-1 will be the most important financial document the IPO market sees this year. Starlink subscriber economics are the number everyone needs to see disclosed for the first time.

21-bank underwriting syndicate already assembled. The scale of the syndicate matches the scale of the deal.

Concept stocks are already moving on this. Watch the aerospace supply chain.

Watch for the S-1 date. 🚀

In the Chinese equity markets, there is only one immutable law: capital is transient, but the regulatory state is eternal.Just as global investors began to confidently price in the end of the tech cra...

Tencent needs to show margin expansion, not just revenue. China tech at inflection — advertising and fintech key