Almost every part of the AI supply chain is constrained. Energy being the most constrained. This is why names like $IREN and $CIFR have become front and center. 💪🏻
$SPCX Market Cap if I had to guess.
Day of IPO: > $2.5 Trillion
90 days after IPO <$1.5 Trillion
Bottom $1 Trillion
Within 3 years > $4 Trillion.
Long term it will rocket. Short term feels more choppy. 👀
TLDR my read on Citadel’s note is to make AI work at scale frontier models will not be applied to every use case but rather a mixture of models to support task complexity and cost goals.
People will say this is bearish for frontier but what I envisione is more normalization of price which will include higher price tags for models that offer greater intelligence to solve harder more valuable problems. 💪🏻
$ADBE Q2 EARNINGS
• Sales $6.62B vs Est. $6.46B
• EPS $5.96 vs Est. $5.82
• RPO $22.3B vs. Est. $22.1B
• AI-first ARR: >$500M (+200% YoY)
Q3 Guidance
• Sales $6.7B vs Est. $6.5B
• EPS $6.08 vs Est. $5.77
2026 Outlook
• Sales $26.6B vs Est. $26.1B
• EPS $24.40 vs Est. $23.56
Adobe CFO Dan Durn departing.
$SPCX is an N of 1. There is nothing else like it and no easy way to value it. Fundamentals will never get you to $1.77 trillion. It will be a 5 trillion dollar company some day. But, it very well may retreat to being a $1 trillion company before it sees that parabolic move to 5 trillion and beyond. 👏🏻🚀
This is absolutely insane:
The SpaceX IPO has now drawn more than $70 BILLION worth of retail orders alone.
SpaceX is raising $75 billion, making retail interest ALONE enough to nearly fill the entire sale.
To put this in perspective, the previous record IPO was Saudi Aramco in 2020 at $29.4 billion.
This means that retail interest in SpaceX is now 2.4 TIMES larger than the total amount raised in the previous largest IPO in history.
As a result, SpaceX has announced that 20% of their IPO will be allocated to retail investors, following through on @elonmusk's vision to democratize the record IPO.
Nothing even remotely near what SpaceX is about to do has ever happened.
Friday will be a historic day.
Oracle, $ORCL, shares are down in early trading despite the company's earnings beat.
@TheFuturumGroup's @danielnewmanUV explains Oracle's “good print," the market reaction and its AI positioning.
He also talks about the wider tech pullback and gauges risk in upcoming IPOs to note.
For more: https://t.co/D3SgyD5VLo