Hey there weekday warrior,
Here’s what’s on tap today… Jensen is setting records (again), SpaceX got a rocket in his pocket space, and DJT is going to make American steel great again.
Now, enjoy the next 3 minutes and 18 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
PS… thanks in advance for doing your part in helping keep TWC like the Fed (think: free and independent) by checking out today’s advertising partner.
Diamond Huangs
NVDA: *trading at its cheapest multiple (16.5x forward earnings) since 2015*
Jensen:
Nvidia $NVDA ( ▲ 1.68% ) just authorized another $150B for share buybacks…
ICYDK, that’s the largest share repurchase increase… ever. The previous record? Apple $AAPL ( ▼ 0.78% ) circa 2024 topping a mere $110B (suck it, Tim).
Fun fact/quick math: Nvidia’s stock buyback is bigger than the entire market cap of 84% of the S&P 500.
That brings Scrooge McHuang’s remaining capacity to $235B, with a B.
But wait, there’s more…
Oh, and Obi Huang Kenobi also dropped the new Open Agent Safety Platform Monday, which is sorta a browser for agents to keep them from hacking China and starting WWIII wandering off.
Because… he’s our only hope.
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+ Moonshot Money shot.
Elon finally got his Starship into orbit yesterday (on the 14th try).
Oh, and SpaceX $SPCX ( ▼ 2.16% ) used that opportunity to yeet up 26 more Starlink V3 satellites.
Friendly reminder: Starship was supposed to reach orbit in the year of our Lord 2022…
Sadly, the ship did come down early instead of orbiting Earth a few times and landing off the coast of Chile like it was supposed to.
Either way, data centers in space…
+ Donny Steel (which, that nickname deserves a BONK) just announced a $15B Mesabi Metallics plant coming to Iowa in 4 years.
That’s the largest of its kind in US history, because, midterms.
Per Mesabi, it'll be "100% American steel: mined, melted and poured in Minnesota and Iowa."
Nobody tell them about jet fuel…
+ The Facebook just hired away MongoDB $MDB ( ▼ 18.46% ) CEO CJ Desai to run the new Meta $META ( ▼ 4.8% ) Enterprise Platform, the “next major pillar of our business” per Zuckbot.
MongoDB stonk fell 21%, understandably…
Oh, and Meta stonk fell too, but not that bad.
Quick math: CJ’s own Mongo stake dropped $6.1M on the news. In the biz, we call that a signing bonus…
*Amazon $AMZN ( ▼ 1.41% ), Microsoft $MSFT ( ▼ 1.35% ), and Google $GOOG ( ▼ 0.56% ) have entered the chat*
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> Trump ‘very seriously’ considering diesel export ban as global supply crunch worsens // Dare you (not).
> Trump dines with Anthropic CEO Dario Amodei after months of bitter AI feud // Mend fences. Make no mistakes.
> (Sunday) China weighs allowing ByteDance, Alibaba to buy new Nvidia chips, The Information reports // Panda RTX PRO 5500 Diplomacy
> (Saturday) Apple faces $5.7 billion patent infringement verdict over iPhone and Apple Watch haptics // Live look at Apple HQ after that verdict...
> (Saturday) Costco receives $184M in tariff refunds // Or ~123M hot dog combos.
> (Friday) Instagram made ‘attorney-client privilege’ swag hats for employees who concealed kids safety docs in court battle // …
On Friday, I asked, “I’m not saying it won’t work one day, but... Why didn’t VR work yet?”
47% of you said, “There was absolutely no use for it.” So proud that I don’t have to BONK 47% of you.
Here’s what some of you guys had to say (and my response in italics)…
No use for it: “One reality is plenty…” Amen.
The tech sucks: “No one wants to wear a headset and look at an avatar of themself without a torso or hands that function.” Don’t yuck someone else’s yum.
It’s too expensive: “VR porn hasn’t blown up yet, when it does then so will the rest of the industries.” Aaand there’s the BONK.
Other (write-in): “Because people realized that ACTUAL reality is way better than virtual reality.” Awww that’s cute…
No use for it: “I’ve always thought it was just for dudes who want to be wizards.” It was.
Here’s today’s question(s)…
Sorry that we haven’t talked about this yet…
Are you going to watch this?
+ US stocks rose Friday (S&P 500: +0.5%) as tech rallied and oil eased, sending the Dow up 478 points, then dropped Monday (S&P 500: -0.8%) as oil jumped and the 10-year hit its highest since 2007 after Trump rejected Iran’s Hormuz proposal. So we don’t got that going for us, which is nice bad.
+ The 10-year yield ticked up Friday as the global bond rout slowed, holding near its highest since June 2007, then edged higher again Monday as bond-market pressure resumed on higher oil and inflation fears.
+ Oil eased Friday on hopes for a US-Iran truce, then settled slightly higher Monday on supply-disruption worries as Qatari mediators pledged to bring both sides to the table. Everybody’s a Hormuz mediator now.
+ The “smart” money (prediction markets) thinks there’s a whopping 6% chance that Elon Musk’s net worth tops $2T by end of year. (Polymarket)
Oh, and one more thing….
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