3 REASONS $Broadcom(AVGO)$ EARNINGS REACTION WENT NEGATIVE1. The backlog quality suddenly looked less securedMany investors treated the OpenAI relationship like a typical binding hyperscaler contract but Broadcom’s “multiyear journey” language in the Q&A made it sound more like a general framework than a firm capacity commitment.2. The revenue timing moved far outManagement made it clear that meaningful XPU revenue does not show up in 2026 & instead ramps in 2027–2029 and long-dated revenue always carries higher risk so this needs to be discounted.3. Supply constraints cap 2026 upsideBroadcom disclosed a $72B backlog with 18-month lead times which signals they're already running at full capacity & cannot accelerate deliveries even if d
MY 3 THOUGHTS ON $Oracle(ORCL)$ EARNINGS1. Revenue missed at the worst possible momentOracle is trying to convince the market it is becoming a top-tier AI infra supplier but another revenue miss in an environment where AI spend is exploding tells investors the monetization curve still isn’t matching the bookings narrative.2. Margins compressed right as the company needs to fund multi-gigawatt buildoutsCapex pushed past $20B in six months, FCF swung from +$11B to –$13B, cloud expenses jumped 45%, and Oracle is carrying $120B+ of debt with $25B due in three years. This is real financial strain. 3. Oracle as a high-beta, high-capex AI buildout storyRPO hitting $523B is incredible but the equity is now a bet that Oracle can• build capacity faster than
THE 5 NAMES YOU NEED TO FOLLOW IN THE SPACE ECONOMY
Space is one of my favorite 2026 themes because the real customer base is moving from commercial buyers to fully funded government programs that view this theme as national security infrastructure. It's a once in a lifetime thematic that sits inside budgets that renew every year and grow when geopolitical pressure rises. Once you understand that shift, the companies positioned for federal procurement start to separate from the rest of the sector.1. $Rocket Lab USA, Inc.(RKLB)$ | Rocket LabRocket Lab already understands this shift because they stopped presenting themselves as a launch company years ago. Every decision they have made points toward a world where fully integrated space company with vertical control across manufacturing, payload, conne
PRESIDENT TRUMP WEIGHING A ROBOTICS EXECUTIVE ORDER FOR 2026
Commerce Secretary Lutnick has been meeting with robotics CEOs & is pushing to accelerate the industry with the administration now evaluating a formal robotics order for next year.How robotics is quietly getting built out across the economy:1. $Palantir Technologies Inc.(PLTR)$ & $UiPath(PATH)$ are the traffic controllers for the whole fleet while $NVIDIA(NVDA)$ , $Broadcom(AVGO)$ & $Qualcomm(QCOM)$ are the engines & nervous system that let the robots sense and act.2. $AeroVironment(AVAV)$ ,
1. Not building size in the pure-play drone names when the window was wide open. I saw the opportunity in $ONDS, bought shares at $0.73 but sold at $3.17 because the move felt too fast. I did restart the position at $5.26 but the hesitation cost me some upside.2. I believed the AI Utility names like $IREN Ltd(IREN)$ & $Cipher Mining Inc.(CIFR)$ were built for what I call the overflow era which is that brief high-margin window where AI compute demand outstrips what $Amazon.com(AMZN)$ AWS, $Microsoft(MSFT)$ Azure & $Alphabet(GOOGL)$ Cloud can supply. What I underestimated
MY 5 BIGGEST TAKEAWAYS FROM $Advanced Micro Devices(AMD)$ ANALYST DAY 1. The pivot is official that AMD it’s building a platform with a goal is to sell full AI infrastructure: silicon, interconnect, software & racks that hyperscalers can deploy at scale. It’s chasing $NVIDIA(NVDA)$ vertical model but through an open ecosystem.2. Data center is the company with Lisa guiding for ~35% CAGR, 57% gross margins & >$20 EPS by 2030. That requires DC biz to grow from ~$16B today to near $100B within five years which is a 6x run that only works if MI450 + Helios hit ramp targets & hyperscaler orders stack fast.3. GPU is the upside but ROCm is the gatekeeper. The MI450 & yearly GPU cadence will def
PLTR: The Question is Whether the Imagination has Gone too Far
$Palantir Technologies Inc.(PLTR)$ quarter is one of those moments where operating reality & market imagination finally meet and the question is whether the imagination has gone too far.I don't think people realize how insane it is to grow revenue 63% while maintaining 51% operating margins in software. That level of efficiency is almost unheard of which is why $NVIDIA(NVDA)$ CEO Jensen Huang called Palantir’s ontology “the most important enterprise stack in the world.” The ratio of commercial revenue to customer count is just as extreme with only 530 commercial customers generating ~$400M in one quarter when most software companies at that revenue scale have thousands of clients so this is an insane
$Microsoft(MSFT)$ CEO Satya just made one of the most revealing comments of the entire AI cycle when he said Microsoft has $NVIDIA(NVDA)$ GPUs sitting in racks that cannot be turned on because there is not enough energy to feed them. The real constraint is not compute but power & data center space.This is exactly why access to powered data centers has become the new leverage point.If compute is easy to buy but power is hard to get, the leverage moves to whoever controls energy & infrastructure. Every new data center that $Microsoft(MSFT)$ , $Alphabet(GOOGL)$ , $Amazon.com(A