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Hey there weekday warrior,
Here’s what’s on tap today… chip makers are taking yuge Ls left and right (but mostly left), Wendy’s has high self-esteem, and Blue Origin simply cannot get to outer space.
Now, enjoy the next 3 minutes and 40 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
Blue ourselves
Aaand, it’s (post-election gainz) gone.
The Nasdaq got taken out behind the woodshed and given the Old Yeller treatment yesterday, mostly due to democracy run rampant…
In case you haven’t been receiving an insane number of unprompted daily texts from political organizations and candidates for the last 2 months of your life, which, teach me your ways, the midterms just went down.
And long story short, ‘mericans went all…
But the real loser was AI.
Friendly reminder: Tuesday’s ballots had 50 data center referendums on the books, and at least 46 of them ended with data centers getting bent over and shown the 49 states (Texas doesn’t count anymore).
In the wake of the blue wave, the neoclouds (think: The CW $CRWV ( ▲ 8.52% ), Nebius $NBIS ( ▲ 8.65% ), Iren $IREN ( ▲ 21.69% ), and Applied Digital $APLD ( ▲ 7.9% )) all dropped double digits.
Oh, and chips had their worst day since the year of our lord 2020. More on that in a moment…
Pretty sharp reversal from the Dow posting its best day in 18 months on Wednesday…
Scam Altman spent the day trying to roll out a “National Community Compact,” with plans to cover power bills, cut back on NDAs, and hire local talent for his “compute campuses.”
Because he’s got a lot of free time on his hands now that he ain’t IPOing…
NVIDIA's Founder Says Farmers Should Absolutely Use AI
“If I were a farmer, I would absolutely use AI.”
That’s Jensen Huang, founder and CEO of NVIDIA.
And he's pointing to one of AI’s biggest untapped opportunities: Farming. It’s an industry facing mounting pressure to produce more with less and it’s still massively under-automated.
DIT AgTech brings AI, nutrition automation, and real-time data to livestock production, helping ranchers boost productivity and get more from every animal.
And it’s already proven in one of the world's toughest livestock environments:
500+ units deployed
370,000 head of livestock on the platform
Up to 55% higher daily weight gain
Now expanding into the U.S. and Brazil, DIT AgTech is targeting a 300M+ head cattle market. And the biggest barrier to adoption? Gone. Ranchers get the technology for free when they sign up for a three-year nutrition plan.
DIT AgTech can scale adoption faster, which means more data and more recurring revenue.
Invest before this early-stage opportunity gets harder to access.
𝘐𝘯 𝘮𝘢𝘬𝘪𝘯𝘨 𝘢𝘯 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯, 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘮𝘶𝘴𝘵 𝘳𝘦𝘭𝘺 𝘰𝘯 𝘵𝘩𝘦𝘪𝘳 𝘰𝘸𝘯 𝘦𝘹𝘢𝘮𝘪𝘯𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘵𝘩𝘦 𝘪𝘴𝘴𝘶𝘦𝘳 𝘢𝘯𝘥 𝘵𝘩𝘦 𝘵𝘦𝘳𝘮𝘴 𝘰𝘧 𝘵𝘩𝘦 𝘰𝘧𝘧𝘦𝘳𝘪𝘯𝘨, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘵𝘩𝘦 𝘮𝘦𝘳𝘪𝘵𝘴 𝘢𝘯𝘥 𝘳𝘪𝘴𝘬𝘴 𝘪𝘯𝘷𝘰𝘭𝘷𝘦𝘥. 𝘋𝘐𝘛 𝘈𝘨𝘛𝘦𝘤𝘩 𝘩𝘢𝘴 𝘧𝘪𝘭𝘦𝘥 𝘢 𝘍𝘰𝘳𝘮 𝘊 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘚𝘦𝘤𝘶𝘳𝘪𝘵𝘪𝘦𝘴 𝘢𝘯𝘥 𝘌𝘹𝘤𝘩𝘢𝘯𝘨𝘦 𝘊𝘰𝘮𝘮𝘪𝘴𝘴𝘪𝘰𝘯 𝘪𝘯 𝘤𝘰𝘯𝘯𝘦𝘤𝘵𝘪𝘰𝘯 𝘸𝘪𝘵𝘩 𝘪𝘵𝘴 𝘰𝘧𝘧𝘦𝘳𝘪𝘯𝘨, 𝘢 𝘤𝘰𝘱𝘺 𝘰𝘧 𝘸𝘩𝘪𝘤𝘩 𝘮𝘢𝘺 𝘣𝘦 𝘰𝘣𝘵𝘢𝘪𝘯𝘦𝘥 𝘩𝘦𝘳𝘦: https://bit.ly/4bzuWCi
+ When the chips are down…
Qualcomm $QCOM ( ▲ 4.17% ) and Nvidia $NVDA ( ▲ 6.4% ) both watched 9% of their market cap evaporate yesterday and took the rest of the chip industrial complex with them.
Rising (blue) tide raises sinks all chips or something like that…
Friendly reminder: QCOM dropped a piss poor forecast for the current quarter, despite an earnings beat on Wednesday, and investors were not happy, Bob.
Per CEO Cristiano Ronaldo Amon, “We don’t have a demand issue; it’s a supply issue… If I had more supply, I would probably be doing better.”
It’s giving drug dealer.
+ Never gonna happen.
Wendy’s $WEN ( ▲ 1.01% ) turned down Nelson Peltz’s latest $1.4B offer to take the redhead private.
Apparently, the offer “substantially undervalues” the company. Oh, and the board went full poison pill to avoid a hostile takeover… (in other words, 🖕)
There’s the beef.
Quick math: Peltz’s firm already owns 16%, and his kid, Nepo Bradley, sits on the board and runs 90 franchises.
New CEO Bob Wright (last gig saving was Potbelly) is mid-turnaround…
+ Failure to launch…
Blue Origin just rescheduled its New Glenn comeback for January.
Turns out the rocket scientists are still trying to fix their launchpad after their rocket blew up in May.
ICYMI, Temu SpaceX was supposed to launch 48 Amazon $AMZN ( ▲ 0.92% ) satellites from that launch pad if not for the whole explosion thing.
Meanwhile, Elon is so far ahead he’s making flying cars for fun…
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> (Wednesday) Private sector added 86,000 jobs in October, exceeding expectations: ADP // We’re so back.
> (Wednesday) Elf Beauty raises guidance as quarterly sales jump 51% // In this economy?
> (Tuesday) Apple shares fall despite profit growth as traders fear rising costs // But imagine following Tim Cook.
> (Tuesday) CrowdStrike launches AI kill switch that it says can stop internal agents that go rogue // “Falcon Guardian” is a sick name.
> (Tuesday) Disney plans several thousand layoffs, asks some managers to cut costs by up to 20% // The Mickey Mouse Clubhouse be like…
> (Monday) Billionaire Ray-Ban heir eyes $33B takeover of family firm: report // “The prodigal son also said on a podcast appearance with Italian rapper Fedez that he’s been addicted to drugs and slept with over 2,000 women.” Yeah. He’s perfect for this job.
> (Monday) Binance sees $4.7B in customer withdrawals after stunning North Korea hack // Somebody wake up the “not your keys, not your coins” parrots.
On Friday, I asked, “Since I’m apparently lost in the AI sauce... what % of your job is AI doing right now?”
55% of you said, “<50%.” Give it time…
Here’s what some of you guys had to say (and my response in italics)…
<50%: “I use AI to write my emails so the bosses have no idea i’m actually an idiot but fantastic at fake till you make it.” Did you even bother to write this?
>50%: “My boss has no idea how much I am using AI to do my job. I only have about 5 years left before retirement and I am gliding out.” Just forwarded this to them.
0%: “I’m the personality hire.” Hall of fame comment.
<50%: “AI summarizes my teams meetings. Waste 45 minutes to get the email that should have covered it.” Eliminating Teams meetings may be AI’s greatest contribution to humanity.
0%: “Until the day AI can intubate a patient I’m in the clear...” They did surgery on a grape.
Here’s today’s question(s)…
If you could acquire one of these fast-food chains, which would you snap up? (This is personal. Don't make it all about the $...)
+ US stocks were all over the place, slipping Monday (S&P 500: -0.5%) and ticking up Tuesday (+0.4%), then ripped Wednesday (+1.6%) after Democrats swept both chambers in the midterms, before cratering Thursday (-4.4%) in an AI/chip bloodbath that erased the whole post-election rally and then some. Ouchtown population us.
+ The 10-year yield stayed choppy through the midterms (down Monday, up 6+ bps Tuesday), then fell Wednesday and again Thursday as money bolted into safe havens ahead of today’s jobs report.
+ Oil tanked more than 7% Monday on US-Iran de-escalation hopes, slid to a four-week low Tuesday, dropped again Wednesday, then rebounded more than $3 Thursday on fresh tanker attacks.
+ The “smart” money (prediction markets) thinks there’s only an 8% chance that a Chinese AI model will rank #1 this year. (Polymarket)
Oh, and one more thing….
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