DAP Capital Holdings

Theta Strategy + L/S Equities trader | Information provided is not financial advice | 7 Years in the markets

[Elon Musk @elonmusk]

Pretty much.

As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers.

SpaceX closed $40B of debt for GPUs, but we’re investment grade and have Starlink & launch revenue.

That means the 200+ neoclouds are going to see guppy-level death and consolidation. Some will make it through, but not many.

[Elon Musk @elonmusk]

@Yuchenj_UW I think we’re going to see a lot of stranded compute in partially complete data centers

[Peter Berezin @PeterBerezinBCA]

Depreciation and amortization expenses for the five hyperscalers are set to reach $590 billion in 2029. This is likely to exceed their combined operating profits in 2026.

[DAP Capital Holdings @dapcapital_]

@rdd147 I heard they said something similar in 08’ hmmm

[DAP Capital Holdings @dapcapital_]

@unusual_whales

[DAP Capital Holdings @dapcapital_]

@Bobdog1922 @KevinHondl91520 Slightly P/S, EPS to low with current CAGR growth estimates to justify 200+.
Given a years time it will be very worth, just now in this market environment

[DAP Capital Holdings @dapcapital_]

Not ideal strength, selling to continue next week. Doesn’t have to be on Monday

[DAP Capital Holdings @dapcapital_]

Short covering

Ideally watch the strength of the pullback into EOD, if stalls we'll aim for downside next week.

[DAP Capital Holdings @dapcapital_]

@zerohedge

[Negligible Capital @negligible_cap]

Per Citadel, yesterday was the 7th largest call-buying sessions on record among retail (and the largest in 2 years since January of 2025)

Meanwhile institutional options activity was overwhelmingly defensive, with clients monetizing and rolling downside hedges, noting little appetite to buy the dip

[DAP Capital Holdings @dapcapital_]

Short covering

Ideally watch the strength of the pullback into EOD, if stalls we'll aim for downside next week.

[DAP Capital Holdings @dapcapital_]

$BE Current market environment

Decent earnings = send it to the gulag

[DAP Capital Holdings @dapcapital_]

$BE down 10% at open

[DAP Capital Holdings @dapcapital_]

$CRWV PT cut from Morgan Stanley

[zerohedge @zerohedge]

The AI layoffs are here:

*AMERICAN EXPRESS TO CUT 5% OF JOBS, ABOUT 3,500 EMPLOYEES

*BARCLAYS TO CUT 5,000 JOBS AS AI STARTS CREATING EFFICIENCY

*EBAY CONFIRMS JOB CUTS OF ABOUT 9%

*NETFLIX TO LAY OFF 6% OF GLOBAL STAFF, OR ABOUT 1,000 JOBS: WSJ

[DAP Capital Holdings @dapcapital_]

Coreweaves high yield junk bonds making new highs overnight $CRWV

[First Squawk @FirstSquawk]

BOJ IS EXPECTED TO CONTINUE RAPID RATE HIKES, FOCUSING ON DECEMBER.

[MacroEdge @MacroEdgeRes]

Amazon withdraws plans for four data centers on the 122-acre former GWU Ashburn campus in Loudoun County after buying it for ~$427M

#MacroEdge

[Serenity @aleabitoreddit]

Pretty crazy Reuters piece on the global selloff.

- October 22 marked the 1st time since the COVID crash that long/short, systematic, and multi-strategy hedge funds tracked by Goldman Sachs ALL lost more than 1% in a single day.

- Tech-focused hedge funds: down ~10% in October

- Asia-focused hedge funds: down ~9% in October

There’s separate interviews where Citadel/JP Morgan have been saying retail has been the ones buying the dip in semiconductor, neocloud, and memory stocks.

And the stocks bought by most retail were $NBIS, $SNDK, and $TSM.

Reuters stated this downturn triggered institutional deleveraging events among hedge funds.

Quite the divergence, I do think there’s been a ton of irrational selling now, hedge fund deleveraging seems to be a major contributor.

[Michael Weiss @michaeldweiss]

The GRU hacked into Jared Kushner's iPhone. Dutch military intelligence (MIVD) then recruited a GRU spy who gave them access to the hacked phone. What MIVD discovered was that Kushner had access to two bank accounts --one Azerbaijani, the other Israeli --where Saudi Crown Prince Mohammed bin Salman and Emirati ruler Mohammed bin Zayed deposited money. It sounds like a slightly far-fetched episode of "Slow Horses," but it's real. And it proves just how eye-poppingly corrupt this administration was and continues to be as its "special envoy" decides the fate of tens of millions in Europe in the Middle East. Simply incredible reporting by Matthew Cole, drawn from his new book on Kushner. https://t.co/8AyV60gg1X