Frank Ricard

[Polymarket @Polymarket]

JUST IN: Scientists say AI has decoded communication patterns in mice, dolphins, apes, birds, whales, & cuttlefish — could eventually lead to humans communicating directly with animals.

[Frank Ricard @NovusOrderM]

Directionally agreed.

Demand for intelligence is unlimited. That means demand for data processing + memory is unlimited.

Analysts estimate data center capacity to double by 2030 (efficiencies in chips and data center buildout both considered).

To run billions of agents 24/7, we’ll probably need to at least 10x the current capacity. At least. Probably more.

The constraints are power and capital. That’s the macro headwinds, which will be overcome. Just a question of when and how.

[Lisan al Gaib @scaling01]

Microsoft trained three DeepSeek-V3 sized models just for funsies and you are wondering if there's a compute gap between US and China

lmao

[Frank Ricard @NovusOrderM]

“This is not even a technological shift that happens every generation. This is one of the big ones.”

[Chief Nerd @TheChiefNerd]

🚨 Sam Altman Walks Back His Claim That AI Outperforms Humans

“What I wish we had said then is that it outperforms professionals at small tasks in 44 occupations, which is more accurate.”

[Frank Ricard @NovusOrderM]

@Alphagreeny @KobeissiLetter What is normal memory demand when we have billions of agents running 24/7, millions of autonomous vehicles, millions of AI powered robots, and millions of AI powered personal computers?

[Marc Andreessen 🇺🇸 @pmarca]

Legal AI superempowers normal individuals with no legal background to fight big institutions in bureaucracies and in courts on a level knowledge/skill playing field, for the first time in human history. As such, it is one of the most inspiring applications of AI.

[The Kobeissi Letter @KobeissiLetter]

It's official:

Canada has unexpectedly entered a technical recession for the first time since the pandemic lockdowns in 2020.

Real GDP in Canada fell -0.1% in Q1 2026 following a -1.0% contraction in Q4 2025.

This marks two-straight quarters of GDP contraction for the first time in six years.

Economists had expected Q1 GDP growth of +1.5%, yet the economy suddenly contracted.

The weak GDP data coincides with a weak job market as well, as the Canadian economy is likely to remain under pressure amid ongoing US tariffs.

Meanwhile, the household saving rate fell to 3.5%, reaching its lowest level since the Q1 2024 as spending rose faster than incomes.

Canada is facing a major economic slowdown.

[Frank Ricard @NovusOrderM]

@TMTLongShort In other words, short term there’s concern. But long term, high upside?

[Polymarket @Polymarket]

JUST IN: FBI warns of rising “anti-tech extremism” as opposition to AI & data centers intensifies.

[Frank Ricard @NovusOrderM]

Just finished building a massive 30-page slide deck. Copious amounts of data and market research related to real estate assets. Claude generated.

Spent about 4-5 hours on it. Obviously requires human oversight and direction, but it probably compressed a week of work into 4-5 hours and generated a far better deck than I would have been able to alone.

Constantly remind myself that AI is currently the worst it will ever be.

[Frank Ricard @NovusOrderM]

Today, I am announcing that I plan to start a business that will do $1B in annual recurring revenue. I’d like to take this moment to congratulate myself on delivering.

[Micah Erfan @micah_erfan]

It’s crazy to see an elected official just deliver on every campaign promise.

[Michael Bruno @brubarian]

@BaldingsWorld NPLs are growing. 60% of civil cases are dismissed because there are no assets to collect on. Omni Bridge put together an interesting report on cross-border enforcement issues covering this.

[Brian Coughlin @EquityBrian]

Gavin Baker had a really good take on the AI market recently on @InvestLikeBest podcast, and I think it gets at why this whole thing is starting to feel a little insane:

“I think cross-sectionally, if you look at the valuations for all these AI names, they just, they can’t all be accurate. You have memory makers at, you know, 3 to 5 times PE. You have NVIDIA at a really low PE. You actually have some other accelerator companies at reasonable multiples. And then you have everything else, everything in power, everything in cooling… power, cooling, even probably some of the optical names. These are discounting very different things.

If the multiples on the power, cooling, optical names are correct, Nvidia, memory, they’re going up a lot. If the multiples on NVIDIA and memory are correct, everything else is probably going to underperform. The AI market is cross-sectionally inefficient right now.”

[The Kobeissi Letter @KobeissiLetter]

China is seeing massive capital outflows:

An estimated $1 trillion in capital flowed out of China in 2025, the largest annual outflow since records began in 2006.

Capital outflows have more than DOUBLED since 2021.

This comes as Chinese investors have moved funds into overseas equities through offshore brokers, particularly into the US and Hong Kong markets.

In response, China imposed restrictions on cross-border stock trading on May 22nd, ordering all illegal accounts to be liquidated within 2 years.

Furthermore, the country fined three offshore online brokers, Hong Kong-based Futu, Singapore-based Tiger Brokers and Longbridge Securities, a combined $330 million for offering Chinese investors access to foreign stock markets without regulatory approval.

China is tightening capital controls as outflows intensify.

[Frank Ricard @NovusOrderM]

@Chrisgpt Likewise. We’re in finance. And we’re basically all max AI at this point.

[Frank Ricard @NovusOrderM]

Do you feel it!?!

[Brandon Carl @brandonjcarl]

GPU spot prices continuing down from their spike.

[Frank Ricard @NovusOrderM]

Imagine what stocks would be doing if we didn’t have AI + X/Reddit to give us multiple takes against our thesis.

That’s truly what’s different today vs. 25 years ago.

Imagine seeing these moves without having a town center to find multiple opposing takes. Without having AI to dig into financials for you.

[Frank Ricard @NovusOrderM]

@cqkten @TMTLongShort This is where I’m stuck. If demand for intelligence is unlimited, then so too is demand for data processing and memory.

Been trying to find every possible reason to sell my memory holdings. Can’t find one yet.

[Frank Ricard @NovusOrderM]

@FinanceLancelot Every once in a while I get in my head and think that maybe the market is overreacting to the intelligence boom, then I come across an account like this talking doom and gloom and realize we are nowhere near the top.