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[Blank @JGF2022]

Bloomberg’s Tom Keene looks like Mr. Creosote from Monty Python’s Meaning of Life. Just one more mint, Tom. 🤡

[Blank @JGF2022]

@StockMKTNewz I took a photo of one in Marseille a few weeks ago. I’m pretty sure I could have tipped it over on my own. 😜

[Marhelm @MarhelmData]

2025 wasn't Asia's year. Europe imported 126.2 Mt of LNG (+26.1 Mt YoY). Asia imported 108.7 Mt (-9.2 Mt YoY). That's one of the biggest shifts in global LNG trade seen in recent years.

[Marhelm @MarhelmData]

Saudi Arabia is considering expanding its East-West pipeline by up to 2M bpd. The move would allow more crude to reach the Red Sea without transiting the Strait of Hormuz, with Kuwait and other Gulf producers reportedly in talks to use the route.

[Blank @JGF2022]

@TheMaineWire 😂

[Marhelm @MarhelmData]

China returns to U.S. soybeans. They bought 6-7 cargoes (~330,000 mt) for Sep-Nov shipment. It's a small volume for now, but sustained buying would shift grain flows from Brazil to the U.S., a positive for Panamax demand and ton-miles.

[Barron's @barronsonline]

New York’s Pied-à-Terre Tax Takes Effect. We’re Still Not Sure Who Pays It. https://t.co/3DaGGZbN4x

[Oliya Scootercaster 🛴 @ScooterCasterNY]

BREAKING: Manhattan Skyscraper EVACUATED after 2 support columns BUCKLE. 5 Floors Reportedly Caved in. Streets CLOSED around the building.

Video by Kevin RC Wilson | Licensing @FreedomNTV [email protected]

[Blank @JGF2022]

@KatieMiller 😂

[Blank @JGF2022]

@ArneriDesign It expands HydroGraph’s U.S. manufacturing footprint
It accelerates polymer commercialization
It supports the Fractal Graphene Paste™ launch
It strengthens the NASDAQ narrative
It signals readiness for large‑scale customer adoption

[Blank @JGF2022]

@ArneriDesign Automotive relevance increases:
Midland’s history with Ford is important. Automotive is one of the largest potential markets for graphene‑enhanced polymers.
4. This supports the Fractal Graphene Paste™ launch
Paste → compounding → pellets → OEM adoption.

[Arneri Design @ArneriDesign]

$HGRAF’s new hire for BD in EMEA!

https://t.co/MTQTQkEgfk

https://t.co/eZuN5JEBEV

[Arneri Design @ArneriDesign]

HydroGraph Certifies Midland as U.S. Compounding Partner for Advanced Graphene Polymer Applications

https://t.co/jYtQywHP6v

$HGRAF

[Blank @JGF2022]

@BambroughKevin Automotive relevance increases:
Midland’s history with Ford is important. Automotive is one of the largest potential markets for graphene‑enhanced polymers.

[Blank @JGF2022]

@BambroughKevin Midland Compounding & Consulting:
-Pilot‑scale & full production extrusion lines
-Batch capacity from 5 lbs to 40,000+ lbs
-Active expansion plans to more than double capacity
-Deep expertise in engineering resins
-Experience with carbon fiber composites & conductive additives

[Sawyer Merritt @SawyerMerritt]

Morgan Stanley's Adam Jonas has just initiated coverage on @SpaceX for the first time with a $300 price target & a bull case of $600/share, which would be an $8 trillion market cap.

Adam thinks SpaceX could generate $319 billion of revenue in 2030, and $3.3 trillion in 2040:

"With an 'X of 1' position in space infrastructure, we believe SpaceX can convert energy into intelligence at scale with optionality to monetize through a range of consumer and enterprise solutions for the next era of AI…the final frontier.

Key Fundamental Drivers of @SPCX Stock Over the Next Few Years:
1) How Does SpaceX Monetize Enterprise Al? While neo-cloud deals are the bulk of the business near term, we see end-to-end Al services as the longer-term business model. We believe the progress of Cursor, including annual recurring revenue estimated at $4 billion and ongoing Pareto frontier performance, remains underappreciated by the market.

2) Can SpaceXAl Achieve Industry-Leading Cost and Time-to-Power? A large portion of SPCX's capex is directed toward Terafab, Solarfab, and other vertical integration efforts (including blade/vane foundry, terrestrial communications infrastructure) to drive down both $/watt and time-to-power on Earth before moving Al "off Earth". While we are believers in the advantages of space-based Al infrastructure over the long-term, we also think the market underappreci-ates SPCX's terrestrial Al economics, with cost per watt running at half the industry average, excluding chips, and deployment speeds ~6-8x faster than peers.

3) Will Starship Achieve a Step Change in Economics? Rapid reusability of both the first and second stages is key to increasing mass-to-orbit capacity and lowering launch costs ($/kg), but the program is still in early testing. The testing regime won't be easy, but we ultimately see a path to launch costs of ~$500/kg by 2030 and below $150/kg by 2040, which could materially expand both connectivity and Al TAMs.

4) Will Starlink Achieve Broad TAM Adoption? Starship, V3 broadband satellites, and Mobile Gen 2 satellites should significantly expand available capacity, enabling materially improved speeds, lower latency, and more effective pricing across consumer, enterprise, government, and mobile mar-kets. Longer term, the primary driver is Starlink becoming a connectivity layer for virtually every data-transmitting device that requires reliable coverage beyond the reach of terrestrial infrastructure.

Our financial forecasts: Balanced execution risk near term with large TAM creation long term:
• Our 2030 revenue forecast of $319 billion balances execution, regulatory and engineering risk with the company's technological and vertical moat which allows it to move faster than peers.
• Our 2040 revenue forecast of $3.3 trillion gives the company credit for creating all new TAMs for connectivity and physical Al services.
• High spending needs ($300 billion capex/year by 2031) means SPCX is not FCF positive on our forecasts before 2035, requiring, on average, ~$84 billion of external capital needs per year from 2027-2034. Ability to secure necessary capital is one of the greatest risks to our forecasts.
• Where do we expect our forecasts to be different? General Longer-term optimism but with balanced nearer-term forecasts accounting for challenges of scaling in the physical world, conservative Starlink mobile adoption, optimistic government & enterprise connectivity opportunity particularly loT/embodied Al, conservative space/launch revenue due to majority capacity used internal, more conservative orbital compute ramp and capex but with credit for long-term scalability advantages, optimistic enterprise monetization potential with more conservative forecasts for traditional X & Grok business.

SpaceX combines near-monopoly launch economics, the world’s largest LEO satellite network, and a fast-scaling AI infrastructure business. We see the company as one of the few platforms that can link real estate in orbit, global connectivity, and compute capacity into one infrastructure stack. Our base case models revenue rising from $45B in 2026 to $319B in 2030 and $3.3T in 2040, with the largest upside tied to Starship, Starlink capacity, terrestrial compute, and orbital compute."

[Kalshi @Kalshi]

JUST IN: JPMorgan says investors should "buy" the dip in semiconductor stocks

[Paul Mauro @PaulDMauro]

This is not hyperbole. If these facts are indeed accurate -- and they are widely reported -- then this needs to be clarified. McConnell's office, the RNC, Chao, SOMEONE needs to issue a statement here. (Note: Chao has no official role in U.S. govt. now).

[Jukan @ ICML @jukan05]

OFFICIAL: SAMSUNG OVERTAKES NVIDIA TO BECOME THE MOST PROFITABLE COMPANY IN THE WORLD

[gCaptain @gCaptain]

Tanker Struck by Projectile Near Hormuz, Sparking Fire https://t.co/A3cmOvfmto