Intelom Wealth

Wealth creation through conviction-based options + equity trades.
Event-driven edge + structured theta plays.
Not financial advice.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: The US Military announces it has begun launching a series of powerful strikes against Iran.

The US says these strikes are in response to Iranian attacks on three vessels that were transiting the Strait of Hormuz.

[Barchart @Barchart]

BREAKING 🚨: Canadian Dollar 🇨🇦

Timberrrrrrrrrrrrrrrrr 📉📉📉

[GURGAVIN @gurgavin]

*MICRON CEO SEES MEMORY CHIP SHORTAGE LASTING BEYOND 2026

$MU

[amit @amitisinvesting]

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Markets whipsawed throughout the day as Iran headlines shifted. Premarket stocks turned sharply green after reports suggested the U.S. was open to unfreezing Iranian assets and offering sanctions relief, reversing the weakness from overnight futures. At the open, sentiment flipped after headlines said the U.S. was rejecting Iran’s latest proposal and preparing for possible military action. Oil and bonds moved higher while stocks sold off, before equities rebounded intraday after President Trump said he would delay attacks on Iran as Middle Eastern officials pushed for a possible deal.

2. 13Fs are out. Berkshire Hathaway opened new positions in $DAL and $M while also increasing its $GOOGL stake by 200%. Berkshire also sold their entire $UNH position. Chase Coleman of Tiger Global bought $MELI, $LITE, $INTC, $XNDU and $RVI. Stanley Druckenmiller sold $GOOGL and bought $SNDK, while the Bill & Melinda Gates Foundation sold 100% of its $MSFT position. Bill Ackman also sold Google and bought Microsoft. The top 10 buys last quarter across 80 of the largest institutional investors were $MSFT, $AMZN, $META, $V, $SUNB, $DIS, $UBER, $ADBE, $FISV, and $WAT.

3. SpaceX’s reported IPO plans continue to gain momentum, with the company expected to trade under the ticker $SPCX and potentially go public around June 12. Reports suggest SpaceX is targeting an $80 billion raise at roughly a $2 trillion valuation, with a focus on expanding retail access to international brokerages beyond just U.S. platforms. Meanwhile, $SPCX perpetual futures began trading on Hyperliquid at $208 per share, implying a valuation closer to $2.4 trillion — which would make it the largest IPO in history. Perpetual futures markets are increasingly being used to create liquidity and price discovery for private or non-liquid assets ahead of public listings.

4. OpenAI won its trial against Elon Musk, who argued the company “stole a charity” by transitioning toward a for-profit structure after he contributed tens of millions to help launch it. OpenAI’s defense said Musk was aware of and supported the for-profit plans early on, only opposing the company later after losing influence and starting rival AI firm xAI. The ruling appears to remove one of the biggest legal obstacles standing in the way of a potential OpenAI IPO.

5. Citi sees the server CPU market growing from $29.3 billion in 2025 to $131.5 billion by 2030, driven largely by the rise of agentic AI workloads. The bank expects the biggest growth category to be agentic CPU applications, forecasting the segment to grow at a 185% CAGR to $59.4 billion by 2030 — representing 45% of the total server CPU market. Citi’s projected 2030 market share breakdown is $INTC at 47%, $AMD at 34%, and ARM-based and other players at 19%.

6. Top option volume leaders today were led by $NVDA with 3.94 million total contracts traded, followed closely by $TSLA at 3.86 million. $MSFT saw 1.12 million contracts, while $AAPL traded 899K and $AMZN traded 762K contracts. Rounding out the top 10 were $GOOGL with 701K contracts, $MU with 657K, $INTC with 655K, $NFLX with 445K, and $META with 441K total option contracts traded.

7. BofA reiterated $NFLX at Buy with a $125 price target, citing an expanding advertising opportunity. Analyst Jessica Reif Ehrlich noted that Netflix’s ad-supported tier has grown to more than 250 million monthly viewers globally, up from 94 million last year. BofA expects ad revenue to rise from about $1.5 billion in CY25 to roughly $3 billion in CY26 as Netflix expands ad formats, pricing, personalization, and international availability. The firm also highlighted new placements across mobile vertical video and podcasts, along with plans to enter 15 additional ad markets.

8. President Trump will swear in Kevin Warsh as the next chairman of the United States Federal Reserve on Friday. Kevin Warsh will be the wealthiest Fed Chair in history with an estimated net worth of $150M. He has publicly expressed support for crypto and believes AI will be deflationary.

9. $NVDA Nvidia invested in Decart as AI labs look for more flexibility across chips. Decart builds AI infrastructure software that helps developers run models across processors from Nvidia, Amazon, Google, and others. WSJ reports the startup raised $300 million at a nearly $4 billion valuation, led by Radical Ventures with participation from Nvidia. Its main product, the Decart Optimization Stack, helps developers move models between different hardware systems without rebuilding around each chip. Amazon is Decart’s biggest customer and has deployed its tech across Twitch, retail, and studios, while the company also builds real-time world models for interactive 3D environments.

10. OpenAI and $DELL are partnering to bring Codex deeper into enterprise infrastructure. Dell’s AI Factory and AI Data Platform help companies run AI workloads across hybrid and on-prem environments, and OpenAI is now connecting Codex into that stack. Codex already has over 4 million weekly developers and is used for code review, test coverage, incident response, and reasoning across large codebases. The next phase is broader enterprise agents that can gather context, prepare reports, route feedback, qualify leads, write follow-ups, and coordinate work across business systems.

11. $META is laying off 10% of it's staff. The layoffs are shaping up to be an AI-driven reorganization. An internal document says Meta will conduct layoffs globally in three batches at 4 a.m. local time, with North America employees told to work from home Wednesday. Leaders are also expected to announce broader organizational changes. Meta plans to move 7,000 employees into new AI workflow initiatives while eliminating some managerial roles. Reuters previously reported the May 20 wave would impact about 10% of Meta’s workforce.

12. The SEC is reportedly considering an “innovation exemption” that could allow tokenized stocks to trade on DeFi platforms. Bloomberg Law says the agency may permit third-party stock tokens even without approval from the public companies they track, meaning platforms could create tokens tied to names like $AAPL, $TSLA, or $AMZN without issuer involvement. These tokens may trade outside parts of the traditional equity-market structure and may not include normal shareholder rights like voting or dividends. Platforms like $HOOD and $COIN along with Blackrock's Larry Fink have called for the eventual tokenization of everything.

WALL STREET IS THE GREATEST SHOW ON EARTH.

[ProblemSniper @ProblemSniper]

Bookmark this. 👇🏼

[Cody 🇺🇸 @OddStockTrader]

I'll SCREAM IT.

BUY COMPUTER STOCKS

[amit @amitisinvesting]

The Stock Market is in an interesting moment of time.

The Bulls are pointing to earnings growth at a level we have never seen before by the largest companies on the planet.

The Bears are pointing to Oil continuing to surge higher and the Equity Risk Premium essentially being zero with one or two sectors contributing to the majority of the gains.

I spent all morning compiling every chart, every counter argument, and tried putting it together into a cohesive explanation for why this rally has been so historic but what could also be troubling about it.

Historic rally:

- Semis most overbought since 2017, best run we have ever seen for them
- April up 10% on the S&P
- Best earnings growth across the board since 2021 as hyperscalers increase capex

What's troubling about it:

- Oil still over $100
- Financials are down for the year and not participating in the rally
- Japan continues to manipulate their currency and the Yen is part of the global tech trade
- Bond yields aren't coming down...at all

The Stock Market Is Ignoring All The Bad Things, but
maybe, for the right reasons...

Article below ⬇️

[Intelom Wealth @IntelomWealth]

@fahmeedx 🐐

[GURGAVIN @gurgavin]

HUGE DAY TOMORROW GET READY

10 AM CANADA INTEREST RATE DECISION

2 PM USA INTEREST RATE DECISION

2:30 PM JEROME POWELL SPECH

4:00 PM GOOGLE EARNINGS

4:00 PM AMAZON EARRINGS

4:00 PM META EARNINGS

4:05 PM MICROSOFT EARNINGS

[fahmeedx @fahmeedx]

at a certain level of success you realize that everyone is faking it and nobody has anything figured out

[Adam Cochran (adamscochran.eth) @adamscochran]

If you aren't in finance, this likely means nothing to you.

If you are in finance, this is one of the main barometers of the end of an economic cycle, and that things are *actually* getting quite bad.

[amit @amitisinvesting]

$NVDA TO INVEST $2B INTO $NBIS

NEBIUS WILL DEPLOY 5GW+ OF NVIDIA SYSTEMS BY THE END OF 2030

Nice to see Nvidia show some love to Nebius, seems like $NBIS and $CRWV are the preferred neoclouds by the world’s largest AI company.

+8%

[The Kobeissi Letter @KobeissiLetter]

Today’s chart of oil prices will be referenced for decades to come.

You just witnessed history.

[amit @amitisinvesting]

US FEBRUARY NONFARM PAYROLLS LOSE -92,000 VS. GAINING +58,000 EXPECTED

rate cut probabilities for March now up from 2% to a big 4.7% chance that the Fed actually realizes we may not be okay in the labor market

[amit @amitisinvesting]

ADP PRIVATE PAYROLLS +63K VS +50K EXPECTED

- 58K of the 63K jobs were from Education & Health Services

- Construction jobs were up, Manufacturing were down

- Professional services lost 30K jobs

overall, not a bad labor report

[Evan @StockMKTNewz]

CrowdStrike’s $CRWD initial post earnings move is down by almost 5%

🔴🔴🔴🔴🔴

[Intelom Wealth @IntelomWealth]

@wirelyss AI is a great tool to help boost productivity but there’s still the metacognition that is missing which will take time. It’s good for repeatable processes but not the more complex tasks. @fahmeedx has been in this space for years and has always adapted, AI is a steroid for him.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: IBM stock, $IBM, falls over -10% after Anthropic announces that Claude can streamline COBOL code.

It’s becoming increasingly clear how pivotal the times we are in right now truly are.

[Barchart @Barchart]

JUST IN 🚨: Coffee plunges to lowest price since July ☕️📉 Congrats everyone, we did it 🥳🫂

[The Kobeissi Letter @KobeissiLetter]

BREAKING: US job numbers were revised down by -1,029,000 jobs in 2025, the largest annual revision in at least 20 years.

This follows downward revisions of -818,000 in 2024 and -306,000 in 2023.

In total, -2,153,000 jobs have been revised out of initially reported data over the last 3 years.

Since 2019, -2,500,000 jobs have been erased from official data, with negative revisions occurring in 6 of the last 7 years.

By comparison, 2009-2010 combined downward revisions were roughly -1,200,000.

What is happening with US labor market data?