MDB's earnings report on the 2nd exceeded expectations, rising 22% and hitting a new high, squeezing short sellers to cover their positions.

The reason is that the core product Atlas grew 30% year-on-year, exceeding expectations, changing the narrative, altering market valuation logic, and raising expectations. It proves AI's performance in improving data centers and infrastructure. MDB is a bellwether for AI infrastructure.

Competitor Snow is currently experiencing slower growth.

The current stock price is $402.5, and I don't need to chase it higher. Moreover, I haven't observed it long enough or understood it deeply enough, and there are opportunity costs—there are many alternatives.

The fundamentals remain viable. The most dangerous time for the AI bubble hasn't arrived yet. It's not yet the time for bubble talk; it needs more time. The market is still restrained, rational, and skeptical—not blindly rushing in.