Today we’re breaking down Nvidia’s latest reveal, keeping an eye on Roaring Kitty’s GameStop moves & a lot more.

Enjoy the next 4 minutes and 15 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “wrapped the last trading day of the month on a high note, notching the sixth positive month in the last seven for all three major indexes.” (Yahoo! Finance)

+ The 10-year Treasury yield “retreated on Friday after the Federal Reserve’s preferred inflation data came in mostly in line with economist expectations." (CNBC)

+ Oil “fell on Friday and posted a weekly loss as investors awaited an OPEC+ meeting on Sunday that will determine the fate of the producer group's output cuts.” (Reuters)

+ Bitcoin fell slightly over the weekend.

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Nvidia -0.8% 2) C3.ai +3.5% 3) Tesla -0.3%

The market moves you need to know about…

+ Penn Entertainment rocketed 19.6% after activist investor Donerail Group sent a letter to ESPN’s gambling partner telling it to get its sh*t together.

+ Big day for casino operators. Caesars Entertainment jumped 11.6% on news that Carl Icahn had taken a sizeable stake in the company.

+ Boston Beer Co. mooned 22.3% on Friday after rumors began swirling that the Japanese owner of Jim Beam was interested in a buyout *founding fathers proceed to roll over in their graves*.

“Save some for the rest of us, Jensen.” - every other chipmaker

On Sunday, Nvidia’s (+0.5%) founder, and former Denny’s employee of the week, Jensen Huang, took the stage in Taiwan (or as China calls it… “China”) to announce the next generation of AI chips.

Ahead of a major trade show in Taiwan, Nvidia played just the tip with the public, teasing the “Rubin” AI semiconductor line that will drop in 2026.

It will feature “new” GPUs and a central processor called Vera that some engineers probably just found out they have to build.

There weren’t a whole lot of details. But the new chips will certainly make Intel wish it had listened to its mom and just become a lawyer.

Wait, didn’t Nvidia just announce new chips?

Yes. NVDA unveiled the Blackwell series in March. Those chips will replace the H100.

Turns out, Nvidia is planning to release new chips on a “one-year rhythm.” Previously, the Intel killers had only released new versions every 2 years. To put this technological undertaking in perspective, it’s like Sony releasing a new PlayStation every 6 weeks.

Of course, who are we to doubt Nvidia?

Jensen & Co. are thisss close to taking over Apple as the second most valuable company in the world. Apple’s market cap sits at $2.95B… while Nvidia has climbed to $2.7T in the days following its yuge earnings report.

+ I’ll just leave this right here…

Roaring Kitty has apparently bought up a f*ck ton of GameStop (+2.3%). Buckle up f*ckleheads.

+ If Bill Ackman’s recent batsh*t social media outburst (see: accusing Uber of massive fraud after speaking with literally one driver) and his showdown with Carl Icahn are any indication, his battles with short sellers will be legendary…

You see, Billy Hedge Fund is hoping to parlay his recent social media stardom into a successful IPO. The dude who made the Harvard protestors regret their life choices hopes to take Pershing Square public next year.

And ahead of going all the way, Bill got his IPO foreplay on last week. Ackman sold a 10% stake in Pershing Square at a $10.5B valuation to a handful of institutional investors and family offices.

+ The good news? The Fed’s preferred inflation index (the core personal consumption expenditure index) rose roughly in line with expectations (+2.8% year over year).

The bad news? Prices rose 2.8%… which means inflation has barely budged in the year of our lord 2024.

This isn’t exactly reassuring for investors. Markets are increasingly pointing towards the first rate cut not happening until the November Fed meeting (spoiler: after the Presidential election).

+ Rumor has it that Waste Management (+2.1%) is nearing a deal to buy Stericycle (+4.6%) for ~$7B. WM is an absolute giant in the trash world. Meanwhile, Stericycle is a much smaller player focusing on medical waste… which one can only assume they just drop in the closest river or ship to third-world nations.

+ “You’ll get nothing and like it.” - OPEC+

The oil-producing nations don’t give a f*ck about your feelings… or inflationary pressures. At its meeting on Sunday, OPEC said it will expand multiple rounds of output cuts into 2025 in hopes of buoying prices.

+ Finance expert reveals why you should stick to the one-tenth rule when buying a car (Read)

+ Mega backdoor Roth conversions can be a 'no brainer' for higher earners, expert says (Read)

+ Nvidia’s billionaire founder: The No. 1 thing I believe today that my younger self wouldn’t understand (Read)

⏪ On Friday, we were keeping an eye on Core PCE data. You can check out all the details above.

⏩ Here's what we’re keeping an eye on today...

+ Gitlab reports after the close

+ We get services and manufacturing PMI data starting at 9:45 AM EST

On Friday, I asked, “What’s the best long-term investment?”

Gold beat out stocks… by 2 votes.

Here’s today’s question…

Dr. Pepper just tied Pepsi as the 2nd most popular soda in the US (both are wayyy behind Coke).

Before you go…

This one is for all the history buffs… (Twitter)

“your life really can change in an instant 😱😭🙏🏻” (IG)

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.