Amit

breaking down tech, business, & stocks $PLTR

[amit @amitisinvesting]

I sat down with the CEO and CoFounder of Robinhood, Vlad Tenev, to discuss a variety of topics after Robinhood's Gold Standard event.

In the podcast, we discussed the early days of Robinhood and how the company grew, the economics behind Robinhood Gold's new 1% unlimited match on deposits, how Robinhood thinks of the credit market with their new 3% cash back card, international expansion, crypto, and more.

This was one of the first long-form podcasts Vlad has sat down for in over 2 years, so was very grateful for him giving the time after one of the busiest weeks in history for the company following their Gold event.

I hope you all enjoy and it helps give some more insights into what Robinhood is trying to build!

[amit @amitisinvesting]

remember all the people that said software was dead and it’ll all be vibe coded away

yeah please never listen to that argument ever again

the tokens need to be processed, orchestrated, and governed via the application layer

SaaS Summer baby

[amit @amitisinvesting]

looks like the street isn’t ignoring 50% revenue growth on software companies anymore 😂

$ZETA +12%

[amit @amitisinvesting]

SaaS and Semis finally getting a bid together.

$MU hitting all time highs, $CRM breaking out...

While there are still deals that look cheap out there, it's starting to turn into a serious broadening which is VERY healthy but at the same time, if everything is pumping, the chances for everything to come down together also increase.

On red days for the past few weeks, a different sector would go green (if semis were red, $igv would be up) and vice versa. Now, it's back to a market where we may see all sectors participate based on broader market forces.

Big tech like $META $AMZN $TSLA are the ones getting hit the hardest along with consumer discretionary...which may end up being the deals that are out there and actually cheap.

It does feel like the street is finally seeing the potential of what Jensen has been saying all along, which is that software will be run by agents so you buy the SaaS companies AND the AI infra.

[amit @amitisinvesting]

so we saw what they did to $GOOGL last year at $150

we just saw what they did to $MSFT over the past few weeks from $395 —> $460

we all know they will do the same to $META right?

it is a top 10 most owned name in the market

it was a top 10 bought name in Q1 from super investors

if $META isn’t in the “shut up and accumulate mode” than I’m not sure what else is

yes there are plenty of legit concerns…but when you are this big and global of a company…those concerns seem to be less relevant with $100B+ of operating income

bought more today, hope they take her to the $550s!

[amit @amitisinvesting]

what’s crazy is I don’t even think most people know that oil is up 6% today

headline this morning about Iran wanting to stop negotiations until the situation in Lebanon is resolved

markets do not care AT ALL 😂

[amit @amitisinvesting]

Google just opened up the floodgates for the Mag 7 to begin doing ATM offerings.

The Mag 7 used to buy back stock. Now they are dumping shares in the open market.

Why? AI infrastructure.

As long as the capex delivers an ROI, the market may reward it, but it looks like Google feels they have tapped the debt markets enough and now need to visit the equity markets.

They also got Berkshire to buy $10B at $350, showing that Berkshire is supporting the move.

This is incredible to witness...but my question is...will this give the other Mag 7 companies the freedom to do ATM offerings if the market is willing to let them?

This incredible to witness.

$GOOGL $META $AMZN $MSFT

[amit @amitisinvesting]

Why is this so bullish?

From Google’s press release:

“AI is driving an expansionary moment for Alphabet. The company is experiencing strong demand for its AI solutions and services from enterprises and consumers, at levels that are exceeding the company’s available supply.”

I’m not gonna lie, this is the single biggest piece of AI related news we have gotten all year.

It is making me question certain names in my portfolio that have nothing to do with the AI thematic and making me wonder why I own them.

If Google is ready to sell $80B of their own attack to continue funding capex because of unprecedented demand, maybe that warrants selling some losers in your own portfolio to double down on the AI beneficiaries.

This is a complete shift in the paradigm of how we think of megacaps. It has me questioning many things tonight.

[amit @amitisinvesting]

Guys.

Andrew Left, founder of Citron Research, is going to jail.

This guy used X to move share prices and make $20M. He also tried shorting Palantir and posting on X to get people to short with him. Well…that didn’t work.

When people ask me why I don’t post about these sub $500M market caps or low float stocks…this is why.

PLEASE BE CAREFUL.

I cannot believe some people here with big followings post about these names as if they don’t realize they absolutely can move the stock. Worst is when they post about the stock going up as if they weren’t the ones that moved it…are you begging for the SEC to come visit you?

You don’t mess around with the SEC. If you don’t have Elon-lawyer type of money, you really don’t mess around with the SEC.

I don’t care how good your thesis is, if the float is small enough to be moved because of your content then YOU HAVE TO take it seriously. I’ve literally seen people ask me to talk about a $30M market cap company as if that would be a smart thing to do. It’s not worth it.

It’s never worth it.

[amit @amitisinvesting]

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. $GOOGL Alphabet is proposing an $80 billion equity capital raise to expand its AI infrastructure and compute capacity, including $30 billion in underwritten public offerings. The company also says Berkshire Hathaway agreed to invest $10 billion through a private placement at $350 a share. From Google’s press release: “AI is driving an expansionary moment for Alphabet. The company is experiencing strong demand for its AI solutions and services from enterprises and consumers, at levels that are exceeding the company’s available supply.”

2. Anthropic has confidentially filed a draft S-1 with the SEC for a proposed IPO, giving the company the option to go public after SEC review depending on market conditions and other factors. Salesforce’s $CRM investment in Anthropic is now valued at about $5 billion, according to Bloomberg, after first investing in the AI company in 2023, with CRM shares rising 9% today.

3. AI-related companies have raised roughly $380 billion across investment-grade bonds, venture capital, and high-yield debt year-to-date, representing about 64% of all capital flows across those channels. AI-linked firms have issued around $140 billion in investment-grade bonds, accounting for 49% of total IG issuance, attracted roughly $220 billion in venture funding, making up 87% of all VC dollars, and represented 38% of high-yield corporate bond issuance at about $21 billion. In other words, nearly 9 out of every 10 venture capital dollars this year have flowed into AI-related companies.

4. The top 10 most active options today by contracts traded were $NVDA with 4.8M contracts, $TSLA with 3.0M contracts, $MSFT with 1.6M contracts, $AMZN with 1.2M contracts, $META with 1.1M contracts, $AAPL with 1.0M contracts, $PLTR with 831K contracts, $MU with 810K contracts, $NOK with 791K contracts, and $ORCL with 784K contracts. Nvidia dominated the market with nearly 4.8M contracts traded, while Tesla followed with over 3.0M contracts, and Microsoft saw unusually heavy activity with more than 1.6M contracts traded.

5. Citron Research founder Andrew Left was found guilty of securities fraud by a federal jury in Los Angeles after prosecutors argued he used tweets about dozens of companies to move stock prices and generate roughly $20 million in trading profits between 2018 and 2023. Left testified in his own defense during the three-week trial, and the jury reached its verdict after two days of deliberations.

6. SpaceX $SPCX reserved 5% of its IPO shares for select employees and individuals chosen by executive officers through a directed share program, with those shares offered at the IPO price and exempt from post-IPO lock-up restrictions. Elon Musk, who controls 85.1% of SpaceX’s voting power and owns 12.3% of Class A shares, has agreed not to sell any shares for roughly one year after the IPO.

7. U.S. data center construction spending has now surpassed a $50 billion annualized rate, fueled by surging AI infrastructure demand. From March 2022 to March 2026, spending on data center construction jumped 336%, rising from roughly $11 billion to about $50 billion, while general office construction fell 34% over the same period, dropping from $65 billion to around $43 billion.

8. OpenAI CEO Sam Altman downplayed the timing of a potential IPO after reports that Anthropic confidentially filed to go public, telling CNBC that going public is simply “a financing event” and not something OpenAI is focused on timing right now. Altman said OpenAI will IPO “when it makes sense for the company,” while adding that the company is focused on building data centers on Earth for now rather than space-based compute, and remains “very confident” Stargate Michigan will generate strong returns given continued AI demand.

9. Robinhood $HOOD has officially closed its acquisition of WonderFi, marking the company’s first entry into Canada. At the same time, $HOOD just saw its largest insider buy in years, with director Meyer Malka purchasing $20 million worth of shares at roughly $80 per share.

10. Cathie Wood’s ARK funds bought $NVDA and $CBRS today while selling $AMD, adding 300,017 shares of Nvidia and 62,669 shares of CBRS, while trimming 110,207 shares of AMD.

11. Call option volume is surging, with calls now making up 70% of total options market volume, the highest level in at least four years. Since early April, that share has jumped 25 percentage points, the largest two-month increase on record, surpassing the previous brief spike of roughly 68% in late 2025 and well above the two-year average of about 55%. At the same time, the total notional value of S&P 500 call options relative to the index’s market cap has climbed to a record 4.1x, doubling over the last two months.

12. Investors now appear to view $NVDA Nvidia as being as creditworthy as the U.S. government, with Nvidia's 5-year credit default swap trading around 38 basis points, slightly below the U.S. sovereign CDS at 40 basis points. In other words, credit markets are pricing the world’s largest company as slightly less likely to default on its obligations than the U.S. federal government, helped by Nvidia’s fortress balance sheet, including roughly $8.5 billion in total debt, $10.6 billion in cash, and nearly $100 billion in free cash flow in FY2026.

WALL STREET IS THE GREATEST SHOW ON EARTH.

[amit @amitisinvesting]

JENSEN AT COMPUTEX TAIPEI JUST NOW:

- Marvell will become the next trillion-dollar company

- Marvell and Nvidia are strengthening their partnership to expand critical networking & connectivity to power AI data centers

Jensen touch...plus 17% 😂

[amit @amitisinvesting]

JOB OPENINGS IN AMERICA FOR APRIL:

The street thought we would have 6.8M jobs open.

We just came in at 7.6M. That’s a difference of +800K jobs.

Fake jobs or AI doomers wrong again on jobs going away?

[amit @amitisinvesting]

if Jensen is so good at getting companies to pump when he says they should be trillion dollar companies then maybe he should say $NVDA can be a $10T company and let’s see how excited the market gets 😂

this $MRVL move is incredible…took some trades on it today and the momentum coming in is essentially buying every little dip

i think so many people have realize that Jensen has been so right about everything that if he thinks Marvell will go to $1T then…well investors are ready to agree that Marvell will go to $1T

[amit @amitisinvesting]

so does anyone like Bitcoin anymore

[Vlad Tenev @vladtenev]

Best buds

[amit @amitisinvesting]

$SHOP

SHOPIFY: ANNOUNCES $3B INCREASE TO SHARE BUYBACK PROGRAM, TOTAL AUTHORIZATION IS NOW $5B

tobi thinks the stock is cheap

[amit @amitisinvesting]

dawg

Jensen says it's $1T so...

[amit @amitisinvesting]

IRAN ANNOUNCES THEY ARE STRIKING US MILITARY BASES IN KUWAIT.

IRGC: “In response to the US strike on Qeshm Island, the IRGC Aerospace Force has struck US military bases in Kuwait with “precise and intensive missile strikes.”

Oil now $95/barrel, highs of the week, futures down

[amit @amitisinvesting]

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Marvell is up around 50%, on pace for its best day ever and adding more than $80B in market cap, after Jensen Huang called $MRVL “the next trillion-dollar company” at Computex.

2. OpenAI Codex now has 5M+ weekly users, with roughly 20% coming from non-developer roles, according to Bloomberg. OpenAI is expanding Codex beyond software engineering with new plugins for public equity investing, banking, sales, internal workplace apps, and professional document editing, with legal and corporate finance tools reportedly coming next.

3. US JOLTS job openings came in at 7.62M in April, well above the 6.87M estimate.

4. $META Meta is scaling back parts of its employee tracking tool after staff backlash, according to The Information. The tool, called the Model Capability Initiative, collects computer usage data to help train AI models on how employees complete tasks. Meta is now adding stronger privacy protections, some employee exemptions, and a 30-minute pause option, while saying activity will be summarized instead of capturing exact words typed and raw data access will be limited to a small group of engineers.

5. Iran says the IRGC Aerospace Force has carried out “precise and intensive missile strikes” on U.S. military bases in Kuwait in response to U.S. strikes on Qeshm Island, marking another major escalation in the region. Kuwait’s air defenses reportedly intercepted incoming missiles and drones, while oil prices are hovering near $95 a barrel and U.S. futures are moving lower as markets price in rising geopolitical risk.

The top 10 most active options today by contracts traded were $NVDA with 3.6M contracts, $TSLA with 1.8M contracts, $AAPL with 1.1M contracts, $MSFT with 856K contracts, $GOOGL with 757K contracts, $INTC with 685K contracts, $NOK with 638K contracts, $META with 637K contracts, $MSTR with 618K contracts, and $AMZN with 615K contracts. Nvidia led the market by a wide margin with nearly 3.7M options contracts traded, while Tesla followed with 1.8M and Apple crossed 1.1M.

6. $BTC Bitcoin sold off sharply after Strategy $MSTR disclosed a rare sale of 32 BTC for about $2.5 million, its first Bitcoin sale in years, with proceeds reportedly used to fund preferred stock dividend payments. The sale rattled crypto sentiment because Michael Saylor has long been viewed as the market’s most committed “never sell” Bitcoin holder, and investors saw even a tiny sale as a symbolic shift. Bitcoin fell below $68,000, while $MSTR dropped more than 9% as the market questioned whether Strategy could be forced to sell more BTC if funding pressures rise. Analysts noted the sale was financially small compared to Strategy’s overall holdings, but the psychological impact was much bigger because it challenged the company’s core Bitcoin-holding narrative.

7. Palo Alto Networks $PANW reported a strong Q3, with revenue rising 31% YoY to $3.0B and adjusted EPS of $0.85, both ahead of estimates. Its next-gen security ARR grew 60% YoY to $8.1B, while RPO rose 36% to $18.4B. The company also raised its full-year outlook, guiding for about $11.4B in revenue and adjusted EPS of $3.77 to $3.79, as demand accelerates from customers securing AI deployments at scale.

8. A $CRWV CoreWeave-linked data center raised $900M in high-yield debt, according to Bloomberg. The 5-year bonds priced at par with a 7.5% yield, with proceeds funding a build-to-suit hyperscale data center near Chicago that is fully leased to $CRWV for 15 years, representing about $2.2B in future revenue. AI data center developers have now raised more than $27B from junk bonds this year.

9. Foreign ownership of U.S. stocks has climbed to a record $20 trillion, now representing about 19% of the entire U.S. equity market, nearly triple its share in 2000. Passive funds have also reached a record, with mutual funds and ETFs now holding $17 trillion, or roughly 15% of U.S. equities, after tripling their ownership share since the 2008 financial crisis. Meanwhile, active mutual funds continue to lose ground, with ownership falling to $11 trillion, or about 10% of the market, the lowest share since the early 1990s.

10. Elon Musk’s SpaceX shares would reportedly be locked up for 366 days after the company’s IPO. At the current $SPCX valuation, Elon is set to become the world's first trillionaire later this month.

11. $UBER Uber is capping AI coding tool spending at $1,500 per employee per month after reportedly burning through its 2026 AI budget in just four months.

12. GameStop $GME reported its highest quarterly net income ever at $389.6M, along with record Q1 operating income of $143.3M. Net sales rose 14% YoY, driven by collectibles, while cash, securities, digital assets, receivables, and pledged collateral totaled $9.7B. $GME approved a $2 billion share repurchase authorization through June 2, 2029, while Shopify $SHOP increased its buyback program by $3 billion, bringing the total authorization to $5 billion.

WALL STREET IS THE GREATEST SHOW ON EARTH.

[amit @amitisinvesting]

first red close on the S&P in 10 days and it was chaos

imagine if we actually stay red for a while 😆

as annoying as it is, did feel healthy

earnings growth is strong but some valuations genuinely are not making sense, probably why $CRWD took a 10% hit

oil at $95 also didn’t help

so far every dip has been bought though so bulls either are gonna be resilient here or give in

SpaceX $SPCX IPO could be sucking up plenty of liquidity as well