John B

[Polymarket @Polymarket]

JUST IN: DOJ sides with OpenAI in its copyright battle with publishers, warning that restricting AI training on copyrighted material could “thwart creative and scientific progress.”

[John B @JohnBazpu]

@zorgtrading

[John B @JohnBazpu]

@zorgtrading

[John B @JohnBazpu]

@BillAckman @mcuban Us drug prices have funded the the global drug industry for decades.

[John B @JohnBazpu]

The way I understand it stablecoin issuer is not allowed to loan out to the public (act as a bank) and not allowed to give interest in your account. If people start to move their bank deposits into stablecoins the banks would lose cheap funding and in worst case a bank run / financial collapse. They would immediately need to sell of their assets to cover and raise interest rates to keep customers which in turn would raise borrowing costs.

[John B @JohnBazpu]

@BlackLabelAdvsr Buddy it’s going to take years for these reserves to hit the market

[Michael A. Gayed, CFA @leadlagreport]

Nvidia just posted record revenue. The stock popped. Everyone's celebrating.

Meanwhile, the cost of insuring Nvidia's own debt against default has more than DOUBLED since May.

Why would credit markets get nervous about a company printing $96B a quarter?

Because Nvidia isn't just selling chips anymore. It's the lender, the guarantor, and the equity investor in the same AI companies buying those chips. When you finance your own customer's ability to pay you, your revenue and your risk become the same number.

The stock market cheered the sales. The bond market is pricing the circularity.

[John B @JohnBazpu]

@conksresearch The solution in the long term is responsible fiscal policy. Stop the financial engineering the bond vigilantes won’t take the bait.

[John B @JohnBazpu]

@unusual_whales

[John B @JohnBazpu]

The sivers stock will be used as a case study on confirmation bias.

People are their own worst enemy. You could set their house on fire, and they’d just congratulate you on upgrading the heating system.

[John B @JohnBazpu]

@sama Is it not convenient. Your selling a service that’s unsafe and then trying to sell the solution. Time to regulate AI maybe?

[John B @JohnBazpu]

@Polymarket I guess they will be selling the solution?

[John B @JohnBazpu]

@ShortSeller If it looks like a duck, walks like a duck, and quacks like a duck, it's a duck.

[Hedgie @HedgieMarkets]

🦔Nvidia just posted $96.2 billion in quarterly revenue, more than doubling last year. Net income hit $59.7 billion in a single quarter. Gross margins at 75%. Free cash flow of $21.3 billion. They returned $26 billion to shareholders and guided next quarter to $108 billion. Vera Rubin started shipping in August. These are the largest numbers any chipmaker has ever produced.

My Take
I'm not going to pretend these numbers aren't impressive because they are. Doubling revenue to $96 billion in a quarter with 75% margins is a performance nobody else in the industry can touch. But $40.3 billion of that came from hyperscale customers who can't fund their own buildout without outside capital. Nvidia sells the chips and simultaneously guarantees the leases and invests in the builders so the orders keep coming. OpenAI lost money last year. Anthropic lost $42 billion. Both are heading to IPO to raise more cash to keep buying.

Jensen said it isn't circular. I think the structure is hard to read any other way. The revenue is real and the cash flow is real. But a company printing $60 billion in quarterly profit while guaranteeing $105 billion of its own customer's lease is playing both sides of the same transaction, and that works until the customer can't hold up their end.

Hedgie🤗

[Ross Hendricks @Ross__Hendricks]

There's a few reasons why $NVDA trades at a steep discount to the market despite there having "never been anything like this growth at such a scale"

Here's a hint: "Accounts receivable was $63.1B with 60 days sales outstanding (DSO), up from 45 days sequentially, due to extended payment terms on large, multi-quarter agreements with certain investment-grade customers"

So supply constrained that customers can't pay their bills on time, probably nothing

[John B @JohnBazpu]

@maxkarpis The banks will love this

[Captain Logic @Captainlogic69]

@zerohedge Message to all - data centers will be one of the worst investments of all time -

Why?

When computers can run local open source models that accomplish the tasks people truly want and use, cloud AI usage rapidly decreases

The bubble pops.

Apple is openly building for this now.

[John B @JohnBazpu]

@EC0RREN Köpte Africa Oil 2012 på toppen. Blev ingen dunder affär där inte.

[John B @JohnBazpu]

@Kalshi_Finance Ofcourse they will, every dollar they finance their customer’s with is circling back as revenue.

[John B @JohnBazpu]

@amitisinvesting Claude feels worse and worse by the day..