$BA - interesting price action this morning .. was up strong in the pre and went higher as Kelly Ortberg was interviewed on @cnbc.com (likely because of his bullish comments around potential China orders). Stock opened up ~5% and now sits around 1%+ ...
Call doesnt begin until 1030
$COF sees steady labor market, real wage gains & tax refunds driving US consumer resilience. Acknowledges risk from energy prices & reserving accordingly. But also points to resilience being questioned every Q for a while now despite strong credit quality $XLF $XLY $JPM $BAC
The business model here is very interesting ... as the equipment backlog grows with increased demand, price goes up (as you would assume). Ultimately, higher priced equipment sales lead to servicing costs (5-10 years out) are at a higher margin
$GEV Total Orders up 71% organically as the Electrification segment (where data centers are included) saw orders up 86% YoY
Total Electrification orders were $7.1bn for the quarter of which data centers made up $2.4bn ... showing that the electrification trend is not just an AI story
Importantly, it rebuilds the AI talent at SpaceX after all the departures linked to xAI
Makes sense for SpaceX ... gives them a product that is generating revenue on the AI side. Gives Cursor compute, of which xAI is probably not fully utilizing for inference given lack of users.
I have been using GPT ImageGen-2 for the past weeks
I didn't think that better image-generators would be a big deal but it turns out that there is a quality threshold I didn't expect, where you can now get usable text, slides, academic papers
Look at what it does with my "otter test"! (Zoom in)
"Shenxing” lithium-iron-phosphate battery that recharges from 10% power to 98% in just 6 minutes"
"The battery maker cited additional achievements, including a nickel-cobalt-manganese battery designed to provide 1,000km.. an even more ambitious condensed-matter battery that offers ... 1,500km"
Of note, John Srouji gets the nod as hardware chief with Ternus promoted. Bringing a Semi’s expert to that role is interesting.
Shocking.. thought at least a year or so for Cook before we got news of the transition. Truly the end of an era …
$AAPL
$NVDA has been one way up since just after 11am this morning
As Cramer and Faber keep discussing $MSFT's "charm offensive" and that they have both had discussions with $MSFT it seems correct that the company is being more purposeful in the narrative as they couple that with a shift of compute to internal workloads
Reed Hastings leaving $NFLX board at end of term is surprising
$QQQ first all time high since $META and $MSFT got absolutely smoked after their earnings calls on Oct 29th
@bloomberg.com reporting on this now -
($GOOGL has since been diluted down to ~5% after the xAI merger).
Certainly, something to keep an eye on. How do they monetize this stake if at all?
$NVDA is red
ir.allbirds.com/news-release...
$BIRD -
"...sell the Allbirds brand and footwear assets to American Exchange Group"
"$50mm convertible"
"will enable the Company to pivot its business to AI compute infrastructure, with a long-term vision to become a fully integrated GPU-as-a-Service (GPUaaS)"
"name to “NewBird AI.”"
Lastly, Hock is departing the $META board and stepping into an advisor role for Meta, where he'll provide guidance on Meta’s custom silicon roadmap and help shape the future of their infrastructure investments
Hock mentioned on their latest earnings call that $AVGO secured supply for substrates, CoWos, T-glass for multiple years … when coupled with their leading IP in connectivity as connectivity becomes the battleground, you get customers willing to lock in multi years
Similar to last week, $AVGO extends partnership with a customer … this time $META.
Multi-year, through 2029, multi-GW. Not necessarily new from a GW rollout in 2027 (Hock hinted at multi-GW for MTIA on the last earnings call).
Noteworthy, is Hock’s ability to lock up multi-year contracts
BREAKING: NFL reporter Dianna Russini resigns from The Athletic less than a week after photos were published of her and Patriots coach Mike Vrabel.
Where I was wrong, and one of the areas that $MSFT was also obviously wrong, was they miscalculated their internal need for compute + the coming demand for compute outside of OpenAI. They are now bearing the brunt of that as they scramble for capacity and purposely withhold some compute from Azure
As more stories come out of $MSFT taking "Stargate" capacity that OpenAI is pulling back from (Abilene / Norway) - I go back to my position from H2 last year that $MSFT was judicious in the capacity they allocated to OpenAI and $ORCL was getting the capacity $MSFT did not want... I agreed with this
For the first time (sustained) since last ~Sept (ORCL earnings print) tech is leading with Mag-7 outperforming
$AMZN leading the way for the hyperscalers up 20%+ in April
Seems to me, investors leaning into expectations that cloud revenues will meaningfully accelerate
$AMZN in flirting distance of an all-time high
Some personal news ;)
