Steve Chenning

I invest in tech and write about where the money is going
High conviction, concentrated bets, real positions
Two huskies and a watchlist
Follow the Money $BE

[Steve Chenning @stevechenning]

$BE is my largest holding and my highest conviction for a reason.

Todays earnings were impressive but they are merely a teaser for the multiyear runway ahead.

In an AI world hitting physical power limits, Bloom Energy's fuel cell servers offer the ultimate solution: onsite always on electricity that bypasses grid delays.

Expect accelerating deployments, strong margins from the service business, and guidance raises that keep surprising to the upside.

This is not hype. It is infrastructure for the compute explosion. All in.

Follow the money.

[Steve Chenning @stevechenning]

@Cobratate So true

[Steve Chenning @stevechenning]

Well said. For all the haters making fun of Topuria, you wouldn’t dare get in the cage.

Come back better than ever champ 🌹

[Steve Chenning @stevechenning]

Peter Thiel’s Founders Fund dropped ~$600M into SpaceX years ago.

Today that position is worth over $50 BILLION at IPO valuation.

Absolute monster return. 🚀

[Steve Chenning @stevechenning]

Banks just said no to lending SoftBank 6 billion against its OpenAI stake.

Weeks ago they slashed the ask from 10 billion. Now even that is stalled.

Lenders can’t get comfortable using a massive private stake in the hottest AI company as collateral.

That’s a loud signal.

When banks who poured fuel on the AI fire get nervous about OpenAI paper as backing, it shows valuation comfort is cracking.

SoftBank is all in on this bet.

If they cant secure the cash on good terms, what does that say about real liquidity behind these sky high private valuations?

AI is still the biggest opportunity of our lifetime, but the easy money era may be hitting walls.

Smart money is watching closely.

Follow the Money.

[Steve Chenning @stevechenning]

@rpnickson Such as well shot and well thought out video from start to finish

[Steve Chenning @stevechenning]

@ChrisCamillo @jackhneel congrats!

[Steve Chenning @stevechenning]

Jensen is now a Superstar.

Running the biggest company in the world but remains humble and approachable.

But we all know how traditional media works. They build you up just so they can tear you down.

Let's hope that never happens to Jensen.

[Steve Chenning @stevechenning]

$AMZN and $META are next in line to copy $GOOG’s equity offering.

I give it weeks? Probably days.

Massive cash raises incoming.

Who agrees? Drop your take below 👇

[Steve Chenning @stevechenning]

SpaceX just dropped a bombshell.

They signed a massive deal to provide Google with access to 110,000 NVIDIA GPUs, CPUs and related compute.

Google will pay SpaceX $920 million per month starting October 2026 through June 2029.

Thats over $11B annually.

SpaceX is now a major AI cloud provider.

This is the revenue rocket that has not been priced in. Everyone thinks SpaceX is just Starlink, rocket launches, and xAI.

Cloud compute revenue will be one of the major revenue drivers for years to come.

Follow the money.

[Steve Chenning @stevechenning]

Winter crashed the party in the middle of summer.

S&P500 -2.64%
NASDAQ -4.77%

Red candles everywhere? That’s not blood in the streets.

That’s a fire sale for the prepared.

Cash on the sidelines just became the ultimate superpower.

Follow the money.

[Steve Chenning @stevechenning]

@myfirstmilpod A real dog owner already knows what his/ her dogs want from their bark. This shit is useless lol

[Steve Chenning @stevechenning]

BREAKING: Bitcoin crashes under $60,000

Where the BTC believers at?

[Steve Chenning @stevechenning]

Brad Gerstner is right.

Elon turns electrons into tokens better than anyone.

SpaceX just hit 18.7 billion in revenue last year with Starlink driving 61% at high margins and 10 million subscribers.

Launches fund the vision while AI data centers + Anthropic & Google deal point to the next leap.

This IPO is just the beginning. The valuation might look expensive now, but wait till you see the streams of revenue rolling in in the next few years.

Bullish on the multiplanetary future.

Follow the money.

[Steve Chenning @stevechenning]

Microsoft just dropped the most powerful laptop ever.

Surface Laptop Ultra packs NVIDIA’s RTX Spark Arm superchip:

20 Arm cores + Blackwell GPU (6,144 CUDA)
128GB unified memory
Runs 120B models locally
2,000-nit mini-LED + 2.5x better thermals

Real on-device AI, no cloud tax, full privacy.

This is the future of agentic PCs.

Big win for creators and devs.

Follow the money.

[Steve Chenning @stevechenning]

For decades, the laptop sat there with the same old slab, same compromises.

Then NVIDIA walked in and changed everything.

They just dropped their first-ever PC chip: RTX Spark.

A sleek Arm superchip that delivers:
RTX 5070-class graphics
128GB unified memory
1 petaflop of local AI power

Thin, quiet, and it runs hard even unplugged. Your personal AI agent now lives on the device. Always on, private, no cloud leash.

Microsoft’s Surface Laptop Ultra is leading the charge. Dell and Lenovo are coming up right behind.

The agentic AI PC era has officially begun.

Follow the money.

[Steve Chenning @stevechenning]

@buildscapital agree

[Steve Chenning @stevechenning]

SPACEX IPO IS THE BIGGEST EVER

Targeting June 12 IPO at 1.75 ~ 2T valuation

Nasdaq updated its rules to allow SpaceX to fast-track its entry into the Nasdaq-100 index

95% insider owned with tiny 5% public float

No 180 day lockup

20% unlocks ~60 days after

+10% if +30% pop in stock

Potentially up to 93% insider shares unlock by November

This will be a MASSIVE market mover

What’s your prediction?

Follow the money.

[Steve Chenning @stevechenning]

How can you not want to cheer for Wemby?

Only 22 years young with such heart and dedication to the game

Reminds me of MJ and Kobe

[Steve Chenning @stevechenning]

When the oracle talks, you listen $IBM

[Steve Chenning @stevechenning]

We're entering a new era for personal computers.

The coordinates 25.0528, 121.5990 point to Taipei, Taiwan where NVIDIA will make a big announcement at Computex next week.

This is NVIDIA teasing their upcoming Arm-based N1/N1X laptop chips, powerful AI PCs, and a fresh chapter in Windows laptops with strong built-in graphics and AI capabilities.

Follow the money.