A Market Rally, Oil Below $92, and the Biggest IPO in History Around the Corner

Inflation at 3.8%, a Summit in Beijing, and a Ceasefire on Life Support

US inflation hits a three-year high. Trump holds Taiwan arms sales as a bargaining chip. And the Hormuz question got more complicated before it got simpler.

Cerebras Doubles on Debut: The AI Chip IPO That Nobody Saw Coming

$5.5 billion raised. Shares up 68% on the first day. A company now worth $70 billion.

Peace Talks, $1 Trillion Chips, and a Yen That Won't Stay Up

Oil swung 15% in a single session. Samsung hit $1 trillion. Japan intervened in currency markets, again.

Anthropic Is About to Become a Trillion-Dollar Company

Revenue at $45 billion and climbing. A $50 billion raise is in the works. And a valuation that would put it ahead of OpenAI for the first time.

The $725 Billion Prisoner's Dilemma

Big Tech's free cash flow is falling to a decade low. Debt is being issued at a record pace. Buybacks have been paused. What this means in the capital cycle.

Musk Leases Colossus to Anthropic And That Tells You Everything About Where AI Infrastructure Is Headed

Rivals in the model race. Partners in the compute market. The lines in frontier AI are blurring fast.

Anthropic Investment Memo

Anthropic: the rising alternative to OpenAI

Oil at $125, Powell's Swan Song, and the AI Trade Under Pressure

The Fed held rates in a dramatic split vote. Oil surged past $125 on Hormuz fears. Big Tech delivered, but not all of it was rewarded. Here is what this week is telling us.

Tesla Investment Memo

A contrarian view to Tesla

Anthropic Investment Memo

Anthropic: the rising alternative to OpenAI

A Market Rally, Oil Below $92, and the Biggest IPO in History Around the Corner

Wall Street's longest winning streak since 2023. Oil at a six-week low on ceasefire hopes. And the largest IPO in history is set to land in two weeks.

Cerebras Doubles on Debut: The AI Chip IPO That Nobody Saw Coming

$5.5 billion raised. Shares up 68% on the first day. A company now worth $70 billion.

Anthropic Is About to Become a Trillion-Dollar Company

The $725 Billion Prisoner's Dilemma

Big Tech's free cash flow is falling to a decade low. Debt is being issued at a record pace. Buybacks have been paused. What this means in the capital cycle.

America's Best Month Since 2020: What the Rally Is Really Telling You