amit

every semi running except the one that is responsible for all them running 😆

semis ex-Nvidia and space are the themes leading this market 

there was a space name that was down 99.9% over the past 5 years that pumped 110% today

pretty crazy timesSource: amit

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY. 

Here's a full recap:

1. $NVDA reported a massive Q1 2026, with revenue reaching $81.6 billion, up 85% year over year. Data Center revenue hit $75.2 billion, up 92%, while EPS rose 135% to $1.87. Gross margins expanded to 75%, up 14% year over year. Nvidia also guided for $92 billion in Q2 revenue, announced a new $80 billion share buyback, and increased its quarterly dividend from $0.01 to $0.25 per share. The stock was slightly down to flat after hours. 

2. SpaceX officially filed for a Nasdaq IPO under the ticker $SPCX, giving investors the first full public look at the combined SpaceX, Starlink, X, and xAI company. The filing shows 2025 revenue of $18.67 billion, up 30%, but a $4.94 billion net loss after posting a $791 million profit in 2024. The company reported 9,600+ Starlink satellites, about 10.3 million Starlink subscribers across 164 countries, 1GW+ of AI compute nameplate draw, roughly 350 million daily posts, and 550 million monthly active users. Anthropic has also agreed to pay SpaceX $1.25 billion per month through May 2029 for AI compute capacity, with ramping in May and June 2026 at a reduced fee. SpaceX will be a controlled company, with Elon Musk serving as CEO, CTO, and chairman while retaining 85% voting control, meaning he can control major shareholder decisions and the company does not expect to pay Class A dividends anytime soon.

3. $PEP plans to raise prices on smaller chip bags as PepsiCo faces higher costs in the U.S., continuing the broader trend of food companies passing inflation and input cost pressures on to consumers.

4. $GOOGL just announced a new $15 billion investment to build AI infrastructure in Missouri, expanding Google’s U.S. data center and AI compute footprint as competition around AI capacity continues to accelerate.

5. OpenAI is reportedly preparing to file for an IPO as soon as Friday, according to WSJ. The company is working with Goldman Sachs and Morgan Stanley on a draft prospectus and could file confidentially with regulators in the coming days or weeks. OpenAI is aiming to be ready for a public listing as early as September, though the timeline could still change. The move comes after OpenAI cleared a major legal hurdle in Elon Musk’s case against the company.

6. $BABA Alibaba announced a new AI chip called the Zhenwu M890, which Alibaba says delivers 3x the performance of its previous-generation Zhenwu 810E chip. According to CNBC, the new processor includes 144 GB of GPU memory and interchip bandwidth of 800 GB per second, highlighting Alibaba’s push to strengthen its in-house AI infrastructure and compete more aggressively in the AI compute race.

7. Anthropic’s Q2 revenue is reportedly set to more than double to $10.9 billion, with the company also expected to post its first operating profit, according to the WSJ. Q2 operating profit is projected at $559 million, a major shift from prior investor materials that did not expect full-year profitability until at least 2028. WSJ says the figures were shared with investors during an ongoing funding round that could push Anthropic’s valuation above OpenAI’s. One caveat is that Anthropic may not remain profitable for the full year as compute spending ramps, and the operating profit figure excludes stock-based compensation.

8. April FOMC minutes showed officials generally expect the rate pause to last longer than previously anticipated, with many favoring the removal of the easing bias from the statement. A majority said further policy firming could be appropriate if inflation remains persistently above 2%, with upside risks tied to energy prices, tariffs, and Middle East uncertainty. Several officials said rate cuts could still come later this year if the conflict eases and inflation pressures fade. Labor market conditions are expected to remain stable in the near term, though downside employment risks remain. Almost all officials supported holding rates at 3.50%-3.75%, while one preferred a 25 bps cut.

9. China reportedly added Nvidia’s $NVDA China-specific RTX 5090D V2 gaming chip to a customs banned list last week during Jensen Huang’s visit to Beijing, according to FT. The chip was designed to comply with U.S. export controls and is used by gamers, animators, and AI developers for smaller workloads. The banned list also initially included Nvidia’s H200 and H20 AI chips. Even after U.S. approval for H200 sales to firms like Alibaba and Tencent, shipments remain blocked by Chinese customs.

10. Jeff Bezos in a new interview said today that higher taxes on the wealthy will not solve America’s fiscal problems, arguing that even doubling the billions he already pays would not address the underlying issue of government policy. He also said he plans to give away most of his wealth during his lifetime. Bezos criticized government inefficiency by comparing it to Amazon, saying that if Amazon operated like New York City’s school system, packages would take six weeks, cost $100 to deliver, and still arrive with the wrong item. He also said space data centers are “very realistic” and “will happen,” though a 2-3 year timeline is probably too ambitious.

11. $MU said at JPM’s Boston conference that demand continues to grow and is still outpacing both Micron’s and the industry’s ability to supply because of persistent structural factors. Management emphasized that “cost is a religion,” the balance sheet has “never been stronger,” and the company remains focused on meeting customer demand with higher-quality products. Micron also said strategic customer agreements are helping improve planning and visibility. The company added that its financial outlook has strengthened since the last earnings call and that it is on track for another substantial record free cash flow quarter in fiscal Q3.

12. $INTU reported a strong Q3 while also announcing plans to cut more than 3,000 roles, or about 17% of its workforce. Revenue came in at $8.6 billion, up 10% year over year and above estimates, while adjusted EPS of $12.80 also beat expectations. Intuit raised its FY2026 guidance to $21.34 billion-$21.37 billion in revenue and $23.80-$23.85 in adjusted EPS, while guiding Q4 EPS well above estimates. 

WALL STREET IS THE GREATEST SHOW ON EARTH.Source: amit

$NVDA legit carrying the market today 😂Source: amit

joined space mob at $86 a few weeks ago and happy I joined but people gave @spacanpanman way too much hate because the stock fell from $85 to $60

as if growth stocks don’t experience…oh I don’t know…10-20% swings normally

originally bought it as a trade before the Blue Origin launch a few weeks ago because of @AceCrouton (who just hit $1M port!) but am deciding to continue holding as we see the SpaceX IPO coming up soon which should be a catalyst (and to an extent has been already) for space names

just really hated to see Anpanman getting that much hate because a growth stock went down…we all just have to be nicer humans 😆

back to $100 for Sp🅰️ceMob 🚀Source: amit

So Ackman buys Microsoft…

I know the picks and shovels plays of the AI buildout are getting all the attention, but it does feel like you could open a brokerage account…

Buy $META and $MSFT…

And just not look at it for the next few years and be fine. 

These companies are trading at historic discounts due to “Meta cannot do anything other than Ads” and “Microsoft is a software play so software should go down.”

They will not provide the same short term alpha but these are two of the greatest companies on the planet…doesn’t feel that scary taking a shot on them here.Source: amit

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. UBS raised its price target on Micron $MU to $1,625 from $535 while maintaining a Buy rating, citing structural changes in the memory market driven by AI. The firm expects Micron’s EPS to stay above $100 through 2029 and sees the company generating more than $400B in free cash flow over that period. UBS also pointed to long-term agreements across the memory industry that could lock in pricing and create a smoother earnings profile. Micron has now passed $1 trillion in market cap, making it the 9th largest company in the world.

2. As Elon Musk prepares to take SpaceX public, there is growing speculation that his longer-term goal could be combining SpaceX with $TSLA Tesla. According to CNBC, Musk has discussed the idea of folding the companies together with colleagues. Tesla and SpaceX already share engineers and collaborate on major technical challenges, including power and compute constraints.

3. The top 10 most active options today by contracts traded were $NVDA with 3.8M contracts, $TSLA with 3.6M contracts, $MU with 1.2M contracts, $AAPL with 932K contracts, $NOK with 801K contracts, $MSFT with 684K contracts, $AMZN with 635K contracts, $INTC with 627K contracts, $AMD with 548K contracts, and $F with 532K contracts. Nvidia and Tesla dominated the market, each trading more than 3.6M options contracts, while Micron was the next major standout with over 1.2M contracts traded.

4. $QCOM has reportedly struck an AI chip deal with ByteDance, with Bloomberg saying Qualcomm will supply AI-focused ASICs and ByteDance is expected to buy millions of chips for its AI agent software. The deal could make ByteDance one of Qualcomm’s first major AI ASIC customers as the company pushes beyond smartphone processors into AI infrastructure. ByteDance is also spending aggressively on AI, with SCMP reporting its 2026 AI capex was raised by at least 25% to about $29.4 billion. The agreement depends on the chips staying within U.S. legal compute thresholds for China.

5. Piper Sandler reiterated its Overweight rating on Microsoft $MSFT and maintained its $540 price target, citing material Copilot improvements, potential for more than 5 million FQ4 seat additions, AI capex converting into cloud revenue, and margin tailwinds from newer models.

6. The value of equities held by U.S. households has climbed to a record $57.7 trillion, up 156% since 2020. That is now $9.8 trillion, or 20%, above the total value of household real estate, marking the widest gap on record. Markets are pricing an 81% chance of a new U.S.-Iran agreement by June 30, likely leading to lower oil (now below $100) which could continue propelling markets to maintain their momentum. 

7. $IREN signed a $1.6 billion purchase agreement with Dell for air-cooled NVIDIA Blackwell systems at its Childress, Texas data centers. The systems are expected to support IREN’s previously announced 5-year, $3.4 billion managed services AI cloud contract, with commissioning targeted for early 2027. IREN said the deal could increase its annualized run-rate revenue target from $3.7 billion to $4.4 billion, although that full target is not yet fully contracted.

8. Taiwan’s stock market has reached a record total market cap of $4.95 trillion, surpassing India’s $4.92 trillion for the first time and making Taiwan the world’s 5th largest stock market. The move has been driven by the AI-led rally in semiconductor stocks, with Taiwan’s market value more than doubling since mid-2024. Taiwan Semiconductor $TSM, which now represents roughly 42% of Taiwan’s total market value, has surged 130% over that period. Meanwhile, India’s market cap has fallen 12%, pressured by record foreign outflows, expensive valuations, and a weaker rupee. The contrast is notable because India is the world’s 6th largest economy, with GDP of $4.15 trillion, more than 4x Taiwan’s $977 billion economy.

9. Figure, the humanoid robotics company, has signed a commercial agreement with Catalyst Brands, the operator of JCPenney, Aéropostale, and Brooks Brothers, to deploy humanoid robots at scale. The partnership will begin with an initial deployment in Reno, Nevada, as Figure continues expanding real-world commercial use cases for its humanoid robotics platform.

10. Some insider buys: $NCLH CEO John Chidsey bought 153,000 shares at $16.37, worth about $2.5M, following Director Cohen’s ~$475K purchase last week. $HIMS Director David Wells bought 48,400 shares at $24.235, worth about $1.17M. Meanwhile, $NOK insider buying is accelerating, with Konstanty Owczarek buying roughly $1.1M of stock across two purchases in the last 30 days. An $INTU Intuit Director bought 1750 shares, the first insider buy since 2006. 

11. AI is increasingly driving market profitability. The S&P 500’s net profit margin excluding financials has climbed to a record roughly 15%, while margins excluding the Magnificent 7 and tech have fallen to around 8%, near the lowest level since the 2020 pandemic. That creates a roughly 7 percentage point gap between tech and non-tech sectors, the widest on record. While margins outside of tech have been trending lower since 2022, Magnificent 7 and tech companies have seen margins accelerate sharply over the last several quarters.

12. SpaceX $SPCX has won a $2.29 billion contract from the U.S. Space Force to develop a space-based data network.

WALL STREET IS THE GREATEST SHOW ON EARTH.Source: amit

looks like Trump missed his son’s wedding to end the war

S&P 500 $SPX PERPETUAL FUTURES IMPLY A $7600 OPEN 

market likes it Source: amit

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.Source: amit

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. $NVDA Nvidia CEO Jensen Huang joined President Trump’s China trip after receiving a last-minute invitation, increasing attention on the stalled H200 chip sales to China. Reuters reported that Trump called Huang after seeing reports that he had not been invited, and Huang later boarded Air Force One in Alaska. Nvidia hit an all time high today. 

2. $NBIS Nebius reported Q1 revenue of $399M, ahead of the $388.6M estimate and up 684% year-over-year. Adjusted EBITDA came in at $129.5M, beating expectations of $90.5M, while ARR reached $1.92B, up 674% year-over-year and 54% quarter-over-quarter. For 2026, the company reaffirmed its target for year-end ARR of roughly $7B-$9B and raised its contracted power capacity outlook from more than 3GW to more than 4GW.

3. April PPI came in much hotter than expected, with headline producer prices rising 6% versus estimates of 4.9%. Core PPI also beat expectations, increasing 5.2% compared to the 4.3% forecast. This marks the highest producer inflation reading since March 2022.

4. Consumer credit stress is rising across major debt categories. In the U.S., 13.1% of credit card balances are now 90+ days delinquent, the highest level since 2011. Student loan delinquencies have climbed to 10.3%, the highest since 2020, while auto loan delinquencies reached 5.6%, the highest level on record.

5. Kevin Warsh has been confirmed as the 17th Chair of the Federal Reserve, taking over at a time when inflation is rising again, Americans remain frustrated with the economy, and the Fed’s independence is facing intense political pressure. The Senate confirmed Warsh to a four-year term on Wednesday in a 54-45 vote, with unanimous Republican support and only one Democratic vote in favor, from Pennsylvania Senator John Fetterman.

6. Bank of America raised its AI data center systems forecast to $1.7T by 2030, up from its prior estimate of $1.4T, implying a 45% compound annual growth rate. The firm now expects AI accelerators to represent roughly $1.2T of that market, with AI networking reaching $316B as custom chips like Google’s TPUs and Amazon’s Trainium continue to scale.

7. $F Ford shares moved higher after Morgan Stanley said the company may announce energy storage supply agreements with large commercial customers, potentially including hyperscalers, within the next few months. Morgan Stanley estimates Ford Energy could be worth around $10B.

8. $HOOD Robinhood released its April 2026 monthly metrics, showing continued growth across the platform. Funded customers rose to 27.6M, up 1.65M year-over-year, total platform assets increased 49% to $345B, and April net deposits reached $6.0B, implying a 29% annual growth rate. Trading activity also remained strong, with equity trading volume up 57% year-over-year to $249B, while the margin book more than doubled from $8.4B a year ago to $18.0B, showing customers are borrowing more to invest. Crypto was the weaker area, with volumes down 33% from March and Bitstamp volumes falling 46% month-over-month.

9. U.S. data center construction spending rose 34% year-over-year in March to a record annualized pace of $50B. Spending has now increased 437% since the start of 2021, when the annualized run rate was about $9B, and 688% since 2018, when it was roughly $6B. At the same time, office construction continues to weaken, falling 9% year-over-year to $46B, its lowest level since 2015.

10. $CSCO Cisco reported Q3 revenue of $15.8B, above estimates of $15.54B and up 12% year-over-year. Adjusted EPS came in at $1.06 versus estimates of $1.04, up 10% year-over-year. Product orders rose 35%, networking product orders were up more than 50%, data center switching orders increased more than 40%, and campus networking orders rose more than 25%. Cisco also raised its FY26 AI infrastructure order outlook to $9B from $5B and lifted expected AI infrastructure revenue to $4B from $3B. 

11. U.S. leveraged ETF assets have climbed to a record $177B, up $45B since the March market bottom. Tech remains the dominant category, representing about 69% of total leveraged ETF AUM. Within that, technology-focused funds hold $65B, semiconductor funds hold $32B, and Magnificent 7 funds hold $25B, while S&P 500-linked leveraged ETFs account for another $24B.

12. Anduril raised $5B at a $60B valuation in the private markets. Anthropic raised $30B at a $900B valuation. The street now awaits Cerebras going public tomorrow, with estimates assuming a $40-$50B valuation and SpaceX this summer at $2T. 

WALL STREET IS THE GREATEST SHOW ON EARTH.Source: amit

So this Elon/OpenAI lawsuit…

Elon is looking for $134B in damages.

Let’s say he wins. OpenAI just raised $122B.

Most of that money will be going to $AMD, $NVDA, $ORCL, $AMZN, etc. to pay for their compute needs.

The only possible way to pay Elon would be to give him stock…

If Elon gets $134B on a company that will likely IPO at $1T, then he will effectively get 10% of the company 🤯

This is going to be the biggest high profile trial we have seen in decades for tech.Source: amit

these bond yields spiking is so, so bad but it’s also like who cares cause earnings aren’t slowing down so…

unless the market eventually starts to care

last time we were even close to 4.7% on the 10-year, S&P was down 30% 😂

AI capex is literally the only story keeping this party going and it simply cannot slow down

but once again, this is a dip for ants, the parabolic moves up make this dip look like these stocks are just going back to normal which ironically might be “the dip”

funnily enough, software down intraday as semis pump again 😆

the market is just torn on these sectors but also refuses to care about bonds and oil

still not extreme greed yet eitherSource: amit

$AMZN ATH 

majority of FinX is long this one so it’s gotta feel good…hopefully earnings takes out of the current $240-$255 range and Amazon attempts to go for $300 this year

stock is still cheapSource: amit