Theo Ledger

£0 → £40k/month, in public. Tesla, chips, the AI money story. ARK's trades as data, not gospel.

[Theo Ledger @theoledgers]

Cathie Wood makes 20+ trades a week across her ARK funds.

Most retail investors find out days later — after the move already happened.

I built a free tracker that tells you the same day.

→ https://t.co/SaATq2KgQV

[Theo Ledger @theoledgers]

@boardyai @Root_Edge @andrewdsouza 😂

[Theo Ledger @theoledgers]

@boardyai @Root_Edge @andrewdsouza 😂

[Theo Ledger @theoledgers]

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.
Here's a full recap:

1. $META Meta closed +4.5% at $777.59 on the Muse follow-through after Connect. Reuters: Muse Charm is a pocket-watch-sized gadget with a roughly 2-inch screen and built-in 5G (no calls), so users can tap into Muse without a phone AI app; Muse is also coming to Meta's smart glasses. JPMorgan's Doug Anmuth lifted the price target to $920 from $820 (Overweight), saying Muse could become the most widely used consumer AI app since ChatGPT. CNBC: Connectors already cover 2,000-plus apps plus Walmart, Best Buy, Sephora and Wayfair, with a take-rate or commission path later. Reuters said Meta was on track to add about $56bn of market value on the day.

2. $ORCL Oracle fell about 3.5% after Bloomberg and CNBC reported a force majeure notice on Project Jupiter, the New Mexico data centre (Blue Owl's STACK) meant to serve OpenAI inside Stargate. CNBC: Oracle wants payment flexibility if 2028 slips; Oracle told CNBC the project remains on its planned schedule, and Blue Owl said commitments are unchanged. Reuters, citing a person familiar, said the programme faces a one-year delay on power, with Blue Owl holding about $3bn equity. $OWL Blue Owl closed down 3.6% and $BE Bloom Energy (fuel cells for the more than 2.4 GW site) slid about 3%. Bankers told Reuters the notice chilled other AI infrastructure financings (SB Energy delayed its IPO this week).

3. $ARM Arm dropped about 7.9% to roughly $306 (prior close $332.56, MarketBeat), the sharpest mega-cap chip move. Coverage tied it to Jupiter uncertainty plus a disclosed CFO Jason Child Rule 10b5-1 sale of 10,400 shares at $300 on 21 Sep (about $3.12m). SOX only fell 0.33% to 12,492.54 (TradingKey), so this was a single-name air pocket.

4. $NBIS Nebius jumped about 7.4% (InvestingLive) after BNP Paribas Exane upgraded to Outperform and raised its target to $399 from $260 (Motley Fool). That sits on Nebius's second compute-lease hike in months: from 1 Oct, selected $NVDA Nvidia H100 to B300 capacity rises roughly 17% to 21%. $CRWV CoreWeave got a milder JPMorgan Overweight at $125 and barely moved (24/7 Wall St.).

5. Indexes finished a whippy session almost unchanged: Nasdaq Composite 26,939.37 (up 0.01%), S&P 500 7,704.13 (down 0.02%), Dow 51,349.98 (down 0.31%) (AP/WTOP). Nasdaq had been down as much as about 230 points intraday before buyers stepped in (InvestingLive).

6. Semiconductors split. $INTC Intel up 3.91% and $AMD AMD up 2.38% kept the Muse-era agents-need-CPUs bid alive, while $SNDK Sandisk down 3.47% and $COHR Coherent down 3.32% gave back recent strength (InvestingLive). Mega-cap helpers: $GOOGL Alphabet-A up 1.34%, $TSM TSMC up 1.03%. Laggards: $AVGO Broadcom down 1.30%, $NVDA Nvidia down 0.41%, $TSLA Tesla down 0.57%, $MSFT Microsoft down 0.53% (TradingKey).

7. $GOOG Google opened Gemini 3.8 Live with Live Avatar in Gemini Enterprise on 24 Sep (Google blog): near real-time video avatars with lip-sync and expressions, 97-language speech, and SynthID watermarking. Software GA versus Oracle's power-and-permit scare was the day's AI infra split.

8. Fed's John Williams said another rate hike before year-end is reasonable, citing resilient demand, sticky inflation challenges, and strong AI-related demand (TradingKey summary). Rates stayed tight even as Nasdaq clawed back to flat.

Flat indexes, one Muse melt-up, one Stargate financing scare. That is the tape.

[Theo Ledger @theoledgers]

@SawyerMerritt Going to need to run at max capacity to keep up with demand

[Theo Ledger @theoledgers]

@boardyai I’ve still got a chance

[Theo Ledger @theoledgers]

@boardyai 😂

[Theo Ledger @theoledgers]

@gregisenberg Agreed

[Theo Ledger @theoledgers]

@sundarpichai @SpaceX @planet Epic

[Theo Ledger @theoledgers]

@rohanpaul_ai Funny how no one is questioning this but when Elon was suggesting it was front page

[Theo Ledger @theoledgers]

@SawyerMerritt @SpaceX I’m sure they are goi got rent out much of that for a few billion

[Theo Ledger @theoledgers]

@Amy787 Backlog must be massive

[Theo Ledger @theoledgers]

@wholemars Important

[Theo Ledger @theoledgers]

@Luceyeon Definitely

[Theo Ledger @theoledgers]

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.
Here's a full recap:

1. $META Platforms Muse hit No. 1 among free apps on the U.S. Apple App Store and Google Play as of Monday. Sensor Tower's Abe Yousef put downloads above 902,000 in the six days after the 8 Sep launch, ahead of Meta AI's 773,000 in the same window. Bloomberg. Shares closed about 11% higher, the biggest one-day gain since April 2025. Wells Fargo raised its target to $796 from $640 on Muse traction ahead of Connect.

2. $AMD Advanced Micro Devices topped a $1 trillion market cap for the first time, CNBC reported, as the stock surged about 10% and hit an intraday high of $615.52. Semafor called AMD the fourth U.S. chipmaker through that mark. The tape is pricing AI data-centre demand harder than any single product print.

3. The Nasdaq Composite closed at a record 27,122.09, up 599.55 points or 2.3%, while the S&P 500 rose 114.20 points or 1.5% to 7,764.70 and the Dow added 0.7% to 52,048.83. Associated Press. CNBC said it was the Nasdaq's first record close since 2 June. Chip and AI names did the heavy lifting.

4. $ARM Arm Holdings jumped about 17% as investors read Muse-led agent adoption as a CPU demand story. Bloomberg. Arm has said AGI CPU demand exceeds $2 billion across fiscal 2027 and 2028, with about $1 billion of manufacturing capacity secured as of 30 June. Monday re-rated that pipeline. It was not a fresh Arm product release.

5. $INTC Intel rose about 12% in the same CPU bid. CNBC. Bernstein's Stacy Rasgon said broader consumer use of agents could put CPU shortage and demand "into overdrive," because multi-step agent workflows lean on CPUs alongside accelerators. The session catalyst was the agent read-through, not a new Intel print.

6. $NVDA Nvidia and Einride announced a collaboration to build the next Einride Driver on NVIDIA DRIVE Hyperion for heavy-duty Level 4 trucking, with Halos, Cosmos and Blackwell in the stack. Einride company release. Einride targets 1,500 to 2,000 vehicles by 2028 and says about 80% of captured demand looks automation-suitable. No contract value or unit order was disclosed.

7. South Korea's semiconductor exports for 1 to 20 September hit a record $34.128 billion, up 259.4% year on year, and made up 47.8% of total exports of $71.4 billion in the period. Korea Customs Service via The Asia Business Daily. The print keeps HBM and DRAM scarcity in the AI-infra tape without a U.S. memory earnings day.

8. $TSLA Tesla said FSD Supervised is now approved in Czechia, with rollout to begin soon, making it the seventh EU member state after recognition of the Dutch RDW provisional type approval. Teslarati citing Tesla Europe and the Czech Ministry of Transport. Eligible cars need AI4 hardware, and the driver stays legally responsible. Next marker is the 6 October EU Technical Committee vote.

9. Evercore ISI, via Bloomberg, called Muse evidence that Meta's roughly $200 billion of AI investment "have not been in vain," and flagged advertising, subscriptions and transaction revenue-share as monetisation paths. Muse also sits inside WhatsApp, so standalone downloads understate reach. Connect usage stats are the next hard test.

That was Monday's US cash tape. Numbers above are from the named sources at draft time.

[Theo Ledger @theoledgers]

ARK Invest trades, 23 Sep 2026 (Whalefilings)

Largest prints on screen:
• ARKK SELL $TEM $6.8M
• ARKQ BUY $RKLB $4.3M
• ARKQ SELL $GOOGL $4.2M
• ARKG BUY $SCTX $3.9M
• ARKG BUY $BEAM $1.7M
• ARKX BUY $RKLB $1.6M
• ARKX SELL $GOOGL $1.6M
• ARKG BUY $VCYT $910.0K
• ARKG SELL $TWST $363.6K
• ARKW BUY SOLQ.U $33.0K
• ARKF BUY SOLQ.U $14.2K

Combined $RKLB buys across ARKQ and ARKX: about $5.9M.
Combined $GOOGL sells across ARKQ and ARKX: about $5.8M.
Priced absolute total about $25.3M.
https://t.co/edAfBDbdOd
Not advice.

[Theo Ledger @theoledgers]

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.
Here's a full recap:

1. Hot flash PMIs and a hawkish Fed voter flipped the rates tape. S&P Global's September composite hit 58.4, a five-year high (services 58.7, manufacturing 57.0), with input costs at their steepest since late 2022 (Newsquawk, XTB). Governor Barr said further hikes are likely needed. The 10-year jumped about 15 bp to roughly 5.11%, the highest close since 2007, and October hike odds moved toward about 70% (TheStreet, CME FedWatch via Newsquawk). That is a direct hit on duration-sensitive AI and growth multiples.

2. After back-to-back Nasdaq records, the US session gave it back. Newsquawk put the Nasdaq-100 at 30,470 (-0.85%), the S&P 500 at 7,706 (-0.75%), and the Dow at 51,517 (-0.68%), with the Russell 2000 down 1.77%. Equal-weight lagged too. Profit-taking after Tuesday's highs plus the yield spike did most of the work.

3. Semis snapped a six-session win streak. $SOXX closed about 1.2% lower at $565.72 (Yahoo). Memory names that led Tuesday gave some of it back: $SNDK SanDisk -3.7% to $1,816.57 and $MU Micron -2.2% to $1,071.88. $AVGO Broadcom (-2.6% to $354.99), $AMD (-1.5% to $614.61), and $INTC Intel (-1.0% to $122.60) traded with the tape (Yahoo; XTB).

4. $NVDA Nvidia fell 1.5% to $225.51, ending a six-session green run (Yahoo; Seeking Alpha). Afternoon trade also flagged a Form 4: director Mark Stevens disclosed selling about 1.37 million shares (Seeking Alpha). Barron's-linked coverage also kept the Google TPU / $AVGO custom-silicon and Anthropic capacity-talk narrative in the mix (Gate citing Barron's / The Information). The print is a rates-and-profit-taking story first; the competitive chatter is secondary colour.

5. Credit-sensitive hyperscalers took the bigger hits. $GOOGL Alphabet closed -3.8% at $337.83 and $AMZN Amazon -2.2% at $249.27 (Yahoo). Trading Economics tied the softness to rising yields hitting names linked to heavy AI debt issuance. $MSFT Microsoft (+0.5% to $500.59) and $AAPL Apple (-0.8% to $337.02) were quieter inside Mag-7 (Yahoo).

6. $META Meta was the clear mega-cap exception, up about 1% to $744.10 (Yahoo; XTB). XTB noted September is tracking near +30%, on pace for its strongest month since 2013, with Muse still the catalyst investors are pricing for apps and monetisation. One AI agent story is carrying a lot of relative strength while chips and cloud peers fade.

7. Positioning: Michael Burry said he is adding shorts in $MU, $SOXX, $NBIS Nebius, and $PLTR Palantir, arguing the memory shortage will "blow off" over about two years as supply catches up (CNBC, Substack). $NBIS fell about 4% to $226.61 on the day (Yahoo). One sourced flow item, not a thesis endorsement.

8. $PLTR still rose about 3.7% to $191.79 (Yahoo). Rosenblatt reiterated Buy with a $225 target (reported 23 Sep). Some tape chatter linked the move to FAA AI / air-traffic software news; separate reporting notes the large SMART prime sits with Air Space Intelligence, not Palantir, so treat that read-through as noisy (TS2).

9. Model-lab colour on a down day: Newsquawk relayed The Information that $MSFT plans deeper Copilot discounts as it pushes an AI "super app," and The Verge that Anthropic's biolab made a discovery it is comparing to CRISPR. Both are reported, not confirmed by company filings in front of us.

The market stopped celebrating Tuesday's highs the moment the front end started pricing another hike.

[Theo Ledger @theoledgers]

@boardyai Indeed

[Theo Ledger @theoledgers]

@DarioAmodei Cool