404

[Michael Saylor @saylor]

Capital markets are funding the AI buildout at historic scale: ~$400B over 6 months. Bitcoin ETFs have seen ~$4B of outflows since May 14, pressuring $BTC. This is a capital rotation, not a Bitcoin impairment. Volatility creates opportunity.

[404 @Origin404]

@TheBTCTherapist Preferreds usually trade like this. Pull up a list

[Michael Knowles @michaeljknowles]

Bessent exemplifies my favorite form of the political animal. He’s an articulate, clubbable, well-coiffed, bloodthirsty, savage beast. You love to see it.

[404 @Origin404]

Spent a good amount of time building a covered-call management agent on Public.

The AI successfully designed the workflow:
• Monitor short calls
• Buy to close at profit targets
• Rescan positions
• Sell new covered calls based on delta, DTE, yield, and risk rules

It refined the logic, validated the rules, and produced a complete execution plan.

But at the end it said it couldn't actually create, save, or deploy the agent.

Feels like the conversational layer is ahead of the automation layer right now.

The potential here is enormous, but there seems to be a gap between "designing" an agent and actually running one.

Curious where things stand on the roadmap. @public

[404 @Origin404]

@Architect9000 False.

Strategy holds ~818k BTC (valued at $50B+ at current ~$67k prices) against manageable debt (~$6-13B in mostly unsecured convertibles) with dedicated cash reserves for dividends.

[404 @Origin404]

@RobinhoodApp Issue is if you have margin enabled in your main account you have to disable it if you want it in the agent account. Also agent account is just showing option level 2 even though main account has option level 3.

[404 @Origin404]

@txstreetfights2 Imagine Ai riots

[404 @Origin404]

@RobinhoodApp Margin on short puts please. Requiring full cash-secured collateral is the only reason I still keep most of my trading capital at another broker. Give us the same capital efficiency offered by other major brokers and you’ll attract serious options traders overnight.

[404 @Origin404]

Here’s one feature I’ve been waiting years for: margin on short puts. Requiring full cash-secured collateral is the only reason I still keep most of my trading capital at another broker. Give us the same capital efficiency offered by other major brokers and you’ll attract serious options traders overnight.

[404 @Origin404]

@EricLDaugh Still needs another round of voting

[404 @Origin404]

@ErikVoorhees please bring back Prism it was ahead of its time. So many people would have made so much money if it was still around. Amazing product that even till this day hasn’t been matched.

[404 @Origin404]

@JesseBWatters Smoke and mirrors. We need a way out of Iran because they have us by the balls. Shift the blame to Israel which they are ok with in the greater good so that America can pull out. They will get something from us in the future for taking the L

[404 @Origin404]

@ASvanevik This is one thing everyone should be on board with if you used ai heavily you will understand this is something that is needed and it’s not even a question. Shits going to get crazy and we need to get in front of it.

[404 @Origin404]

As a republican and someone who uses ai way more then how the general public uses it. This is something that needs to be done. Just like he mentioned ai companies themselves said it’s necessary. It’s transformational technology but you can see the destruction and if we don’t get in front of this now it’s going to be a shit show.

[Bernie Sanders @BernieSanders]

I will soon be introducing a bill to give the public a 50% ownership stake in the largest AI companies in America.

This would guarantee that the trillions created by AI are used to improve the lives of all of us — and block oligarch decisions that harm the American people.

[404 @Origin404]

@StockMKTNewz Blip

[404 @Origin404]

@RobinhoodApp Margin on options please.

[404 @Origin404]

@audrlo Dam, everyone circulating this video I have done way more with it then this. This is nothing. You could accomplish this with the first version so this is just polish.

[404 @Origin404]

@DavidSacks This Apollo?

https://t.co/eDQfozE2s8

[Bull Theory @BullTheoryio]

🚨Michael Burry just said Elon Musk and Nvidia's deal is built on fake numbers.

Burry published a detailed breakdown calling the entire structure "Fugazi", his word for fake.

He is alleging that billions of dollars in Nvidia chips are being hidden off balance sheets, and that American retirees are unknowingly funding the whole thing.

Nvidia, the world's largest AI chip company sold $5.4 billion worth of its most advanced GPUs, the GB200, to a company called Valor.

Valor is not a real operating business. It is a special purpose vehicle, a shell company created specifically to hold these chips and nothing else. Nvidia also invested $1.9 billion of its own money directly into Valor on top of the sale.

Those 100,000+ chips are now physically inside xAI's data center. xAI is Elon Musk's artificial intelligence company, the one that builds Grok. xAI is using every single one of those chips right now to run its AI models.

But here is what Burry is flagging.

Neither Nvidia nor xAI owns those chips on paper. Valor, the shell company holds legal title. That means $5.4 billion in GPU assets do not show up on Nvidia's balance sheet as inventory.

They do not show up on xAI's balance sheet as assets. They are legally invisible to both companies.

Nvidia gets to book the $5.4 billion as a completed sale and record it as revenue. xAI gets full use of the chips without owning them. And the risk disappears into a shell company in the middle.

Now here is where American retirees enter the picture.

Valor needed $3.5 billion in debt to fund this structure. Apollo provided it. Apollo is one of the largest asset managers on earth with $1.03 trillion under management and $834 billion specifically in private credit.

Apollo raised the $3.5 billion, packaged it into debt securities, and sold those securities to Athene.

Athene is Apollo's own insurance company. It sells fixed and indexed annuities, retirement savings products, to ordinary Americans.

When a retiree buys an Athene annuity, they believe their money is sitting in safe, stable investments. That money is now inside a structure funding Elon Musk's AI data center.

The numbers inside Athene are most alarming.

Athene holds $74.2 billion in reserves. It has moved $217 billion in assets into a captive insurer based in Bermuda, meaning those assets sit outside normal US insurance regulation and oversight.

Of the entire portfolio, 34.7%, equal to $103 billion, is classified as Level 3 assets.

Level 3 is an accounting classification that means there is no observable market price for these assets. No outside party can independently verify what they are actually worth.

The leverage sitting on top of those unpriced assets is 16 times.

Burry's says:
Every step of this structure is technically legal and publicly disclosed. But the entire thing was deliberately engineered across 8 to 12 steps to move credit risk off balance sheets and away from any market pricing.

- Nvidia books the revenue.
- Apollo collects the fees.
- xAI gets the computing power.
- And retirees sitting at the bottom of a 16x leveraged Bermuda insurance structure, holding $103 billion in assets with no market price carry the risk without knowing it exists.

[Cassandra Unchained @michaeljburry]

There are good reasons for this Jim. It is all Fugazi. How to make tens of $billions worth of $NVDA GPUs disappear from balance sheets in 8-12 byzantine stepspvs.