Alpha

The clandestine cartography of capital: great fortunes, traced through their migrations and metamorphoses.

[Alpha @AlphaAllocators]

$AMAT Applied Materials just had the biggest quarter in its history, yet the stock is still 47% below its June high. We follow one wafer through the machines Applied sells, from deposition to inspection. Real call audio.

[Alpha @AlphaAllocators]

$AMAT Q4 FY26 results

Revenue: $10.41B vs $10.30B est

EPS: $4.16 vs $4.06 est

Record quarterly revenue, up 53% year over year, with non-GAAP EPS up 92%.

Q1 FY27 guided to $11.1B in revenue and $4.35 in non-GAAP EPS.

[Alpha @AlphaAllocators]

$CSCO Cisco just grew 24%, its fastest in 15+ years. We follow one packet through an AI data center to see where the money comes from, and why hardware is squeezing its margins. Real call audio.

[Alpha @AlphaAllocators]

$CSCO Q1 FY27 results

Revenue: $18.52B vs $18.09B est

EPS: $1.40 vs $1.33 est

Revenue up 24% year over year, the strongest growth in over 15 years.

FY27 revenue guidance raised to $74.8B to $75.8B, and the FY27 AI infrastructure revenue expectation raised to $9B.

[Alpha @AlphaAllocators]

$CBRS Cerebras beat its own forecast, named Microsoft, and admitted it is running late on OpenAI, its biggest contract. Here is the wafer-sized chip drawn to scale next to an Nvidia GPU, and what the delay clauses say. Real call audio.

[Alpha @AlphaAllocators]

In 2012, a breakthrough AI was trained on two Nvidia gaming cards. By 2026, Nvidia's data center business sold $89B in one quarter.

What's inside the rack, who builds it, who buys it, and the five numbers to check every quarter. Company Breakdown, in under 3 minutes. $NVDA

[Alpha @AlphaAllocators]

$NU Q3 2026 results

Revenue: $5.82B vs $5.70B est

EPS: $0.22 vs $0.22 est

Record net income of $1.09B, up 31%, with 143M customers.

The 90+ day NPL ratio rose to 7.3% from 6.9% in Q2.

[Alpha @AlphaAllocators]

$AMAT Q4 FY26 results

Revenue: $10.41B vs $10.30B est

EPS: $4.16 vs $4.06 est

Record quarterly revenue, up 53% year over year, with non-GAAP EPS up 92%.

Q1 FY27 guided to $11.1B in revenue and $4.35 in non-GAAP EPS.

[Alpha @AlphaAllocators]

$CSCO Q1 FY27 results

Revenue: $18.52B vs $18.09B est

EPS: $1.40 vs $1.33 est

Revenue up 24% year over year, the strongest growth in over 15 years.

FY27 revenue guidance raised to $74.8B to $75.8B, and the FY27 AI infrastructure revenue expectation raised to $9B.

[Alpha @AlphaAllocators]

FTAI Infrastructure's CEO just bought $1.53M of his own stock in the open market.

Kenneth Nicholson bought 400,000 shares of $FIP on Nov 10

$3.825 weighted average, prices from $3.68 to $3.89

$1.53M total

Direct holdings now 2,575,539 shares, up about 18%

Per the Form 4 filed today.

[Alpha @AlphaAllocators]

The money now runs Nvidia.

Colette Kress has been CFO since 2013. Revenue was $4.1B the year she arrived. Last fiscal year: $215.9B.

Her own Nvidia shares were worth about $750M at Wednesday's close.

She is interim CEO, still CFO, and on Tuesday she presents earnings for the first time without Jensen: a $108B guide to defend.

$NVDA

[Alpha @AlphaAllocators]

Jensen is out.

After 33 years, Jensen resigned as Nvidia CEO and left the board, effective today.

Colette Kress, CFO since 2013, is interim CEO and keeps the finance job until a permanent successor is named. Harvey Jones is the board's first chairman.

$NVDA dropped 14% at the morning low, then recovered to about -5%.

Roughly $600B of market value is gone this week.

Earnings land Tuesday, Nov 17, against a $108B revenue guide. The new CEO's first job is defending Jensen's number.

$NVDA

[Alpha @AlphaAllocators]

That was fast!!

[TeslaFUDKer 🍁⚡️ 𝕏𝕏𝕏 @technoking_420]

Damn Elon moves quick 👀👀👀👀😂😂

[Wall St Engine @wallstengine]

JENSEN HUANG HAS HIRED LAW FIRM PAUL WEISS AFTER HIS EXIT FROM NVIDIA: NYT

[Alpha @AlphaAllocators]

T1 Energy: U.S. panel prices up after Section 232, 3.5+ GW of 2027 booked, CEO says it may sell out. Stock still ~83% off its June high. The missing piece: a loan for its Austin cell fab. Real call audio.

$TE

[Alpha @AlphaAllocators]

Todd Hornbeck just bought $1.5M of his own company's stock

Hornbeck Offshore $HOS

280,866 shares bought Nov 10 to 11

189,570 shares at $5.28 on Nov 10, about $1.0M

91,296 shares at $5.48 on Nov 11, about $500K

Average price $5.34

Direct holdings now 5,950,514 shares

Hornbeck founded the company in 1997 and leads the combined Hornbeck and Helix business after their September merger

Per the Form 4 filed today.

[Alpha @AlphaAllocators]

Nebius grew revenue 571%, then trimmed its forecast. The reason is one partner-built data center in New Jersey: the temporary generators went away before the fuel cells were ready. The sites it builds itself are on schedule. Real call audio.

$NBIS

[Alpha @AlphaAllocators]

$BX just closed €13 billion for European private credit.

That is about $14.6 billion of investable capital.

Fund: Blackstone European Senior Direct Lending Fund IV
Close: final, announced November 4
Focus: middle and upper middle market borrowers across Europe

The €13 billion covers BXDE IV plus other European direct lending vehicles, including anticipated leverage.

The money is already working as lead lender:

Catalyst Pharmaceuticals take-private: €1.0 billion
Regnology: €780 million
Odevo: €649 million
JTC: €382 million

Blackstone Credit and Insurance now has more than 100 investment professionals across five European offices: London, Dublin, Frankfurt, Milan and Paris.

The firm says credit is a significant part of the more than $500 billion it sees itself investing in Europe by 2035.

Plain read: after a shaky year for parts of private credit, institutions still wrote the biggest checks to the biggest platform. Scale is becoming the product.

[The Wall Street Journal @WSJ]

Jensen Huang has resigned as CEO of Nvidia 🔗 https://t.co/6n3y7kEKxt

[Alpha @AlphaAllocators]

Jim Anderson is buying Coherent stock with his own money.

CEO Jim Anderson bought 5,000 shares at $199.48 on Nov 9, about $997,400, lifting his direct stake to 190,287 shares

Director Enrico Digirolomo bought 1,000 shares at $222.89 on Nov 10, about $222,885, lifting his stake to 11,644 shares

Together, about $1.22M in open-market buys, the first at Coherent since December 2024

Both were filed today, and neither was under a preset 10b5-1 trading plan

Per the Form 4 filings filed today. $COHR

[Alpha @AlphaAllocators]

Three MP Materials insiders just bought $3.35M of stock in two days

Director Randall Weisenburger: 55,000 shares at $36.00, $1.98M on Nov 10

Founder and COO Michael Rosenthal: 32,000 shares Nov 10 to 11, about $1.17M

CFO Ryan Corbett: 5,476 shares at about $36, $199K on Nov 10

Corbett's buy was his first open-market purchase since MP went public in 2020, after about $15M in sales since 2021

$MP

Per the Form 4 filings with the SEC.