One of the stranger features of this AI Tech Wave has been who resisted it hardest in its early years. The young. Past tech waves were adopted youth first. PCs, the internet, smartphones, social. This one ran the other way. I have written about this a...

Wednesday 🥇: A defensive rotation kept the Dow afloat while tech and energy absorbed the damage. SpaceX’s massive AI bill turned Nvidia into the winner and AMD into collateral, while consumer earnings rewarded companies delivering profits now. Gold surged...

The market closed mixed Wednesday as defensives supported the Dow while expensive AI promises dragged tech and easing Hormuz hopes punished energy. SpaceX spent more than investors could stomach, crowned Nvidia its exclusive AI-chip supplier, and reminded...

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Also Situational Awareness margin calls, sports betting regulation and brokerage sports betting revenue.

The stock market The U.S. stock market keeps shrugging off bad news. (axios.com) Higher individual stock volatility is being offset by increased dispersion. (acadian-asset.com) Situational Awareness A look at the commonality between hedge fund...

View the video of this post here. The State of the Markets in 10 Charts… 1) More Milestones, More All-Time Highs The S&P 500 crossed above 7,700 this week for the first time, its 8th 100-point milestone of the year. A year ago it was at 6,300. 5 years...

Podcasts Phil Bak talks with Meb Faber, author of “Investing in America: The Rise Of A 250-Year Bull Market.” (philbak.substack.com) Christine Benz and Amy Arnott talk with Ryan Frederick, about the intersection of place and healthy...

Today’s theme comes from the racetrack. ‘Out of the gate’, and away. Three first results on the board today. SpaceXAI’s first quarter as a public company. The White House’s AI framework, finished yesterday and showing some of its details today. And...

Today’s discussion is about what AI models cost in this AI Tech Wave, and about two opposite things being true at the same time. The pricing spectrum for AI globally is widening at both ends. A non-intuitive phenomenon. Axios frames it dramatically in...