Institutional Investor Login

Tag: AI Infrastructure

Futurum Equities Follow 1,590 21,583

FuturumEquities
FuturumEquities avatar

Futurum Equities

@FuturumEquities ·
18h 2090145400254587033

Goldman is advancing $1.15 billion of high-yield debt on a CoreWeave-leased facility as buyers demand richer yields.

A separate $3.5 billion CoreWeave-backed deal just priced at 10%, repricing that signals scrutiny of depreciation and leverage in this build-out. $CRWV

Image for the Tweet beginning: Goldman is advancing $1.15 billion Twitter feed image.
Image for the Tweet beginning: Goldman is advancing $1.15 billion Twitter feed image.
Reply on Twitter 2090145400254587033 Retweet on Twitter 2090145400254587033 0 Like on Twitter 2090145400254587033 9 X 2090145400254587033
Retweet on Twitter Futurum Equities Retweeted
StockSavvyShay avatar

Shay Boloor

@StockSavvyShay ·
20h 2090117326322720778

$SNOW is positioned as one of the clearest software beneficiaries of the new AI economy because it can monetize machine activity as every useful agent needs enterprise context.

That means retrieving data, running queries and writing information back allowing Snowflake to capture

Image for the Tweet beginning: $SNOW is positioned as one Twitter feed video.
Reply on Twitter 2090117326322720778 25 Retweet on Twitter 2090117326322720778 7 Like on Twitter 2090117326322720778 141 X 2090117326322720778
Retweet on Twitter Futurum Equities Retweeted
StockSavvyShay avatar

Shay Boloor

@StockSavvyShay ·
22h 2090082684425118117

The SaaSpocalypse created some of the best software opportunities of this cycle because the market initially priced agents as if they would replace applications entirely and sold off nearly every software name for months.

Over time we got more evidence that agents may replace

Image for the Tweet beginning: The SaaSpocalypse created some of Twitter feed video.
Reply on Twitter 2090082684425118117 25 Retweet on Twitter 2090082684425118117 6 Like on Twitter 2090082684425118117 90 X 2090082684425118117
FuturumEquities avatar

Futurum Equities

@FuturumEquities ·
22h 2090082517403484359

"People have been wrongly bearish on Snowflake. Imagine you sign on a new client. Now they have five years of data. Next year, they're gonna have six. You automatically got 20% growth from that client organically." -@LogicalThesis

Image for the Tweet beginning: "People have been wrongly bearish Twitter feed video.
Reply on Twitter 2090082517403484359 2 Retweet on Twitter 2090082517403484359 1 Like on Twitter 2090082517403484359 12 X 2090082517403484359
FuturumEquities avatar

Futurum Equities

@FuturumEquities ·
22h 2090082335739756631

Google secured a warrant for up to 58.9M Marvell shares, ~6.3% of the company, with tranches vesting only as revenue lands: one for every $500M through fiscal 2033.

That ties dilution to delivery, showing how deep Google expects its Marvell chip spend to run. $MRVL

Image for the Tweet beginning: Google secured a warrant for Twitter feed image.
Image for the Tweet beginning: Google secured a warrant for Twitter feed image.
Reply on Twitter 2090082335739756631 1 Retweet on Twitter 2090082335739756631 2 Like on Twitter 2090082335739756631 19 X 2090082335739756631
Retweet on Twitter Futurum Equities Retweeted
danielnewmanUV avatar

Daniel Newman

@danielnewmanUV ·
23h 2090067415124074593

Everyone sharing this token price chart as “AI demand is collapsing” is reading one line of a three-line story. So I’ve taken a shot at fixing it with the three lines that matter and make it a more objective read

→ Token prices (Silicon Data, via Bloomberg): round-tripped,

Image for the Tweet beginning: Everyone sharing this token price Twitter feed image.
Image for the Tweet beginning: Everyone sharing this token price Twitter feed image.
Reply on Twitter 2090067415124074593 11 Retweet on Twitter 2090067415124074593 15 Like on Twitter 2090067415124074593 79 X 2090067415124074593
FuturumEquities avatar

Futurum Equities

@FuturumEquities ·
23h 2090066190613782926

Snowflake doubled to 150x earnings and every verdict on the show came back the same. Bearish the stock, bullish the business. @StockSavvyShay, @Sam_Badawi and @LogicalThesis got the game back together to sort $SNOW, MDB and RBRK after the SaaSpocalypse.

Image for the Tweet beginning: Snowflake doubled to 150x earnings Twitter feed image.
Reply on Twitter 2090066190613782926 2 Retweet on Twitter 2090066190613782926 3 Like on Twitter 2090066190613782926 26 X 2090066190613782926
Select Date

UPDATED MARKET THOUGHTS ON THE VOLATILITY IN AI INFRASTRUCTURE

  • AI Infrastructure
  • Daily Shay

Podcast

A prominent memory bull flipped short term bearish over the weekend, and Sandisk answered with an investor day that guides to 80% gross margins out to 2030. Daniel Newman and Shay Boloor spend episode 52 on the memory wall, the week the GPU depreciation bear case broke, and Futurum's new $12.7 trillion AI capex number. The guys open on the memory debate: why every semiconductor and systems company is trying to engineer around the memory wall with stacking, optics, and software, and why Daniel still calls memory a 5 to 10 year constraint. Sandisk's investor day gets the full treatment: mid to high teens growth guided through fiscal 2030, 80% non GAAP gross margins, free cash flow at 50% of revenue, KV cache reaching 35% of AI data center NAND workloads by 2030, and the first HBF die coming in 2027. Shay explains his Micron 2027 call position and why memory stays rationed while GPU capacity commands premiums. Then the neo clouds: CoreWeave signed five year A100 contracts on silicon that is already six years old, grew its order book twice as fast as revenue, and passed $400 million in annualized non GPU business. Nebius ran the first Blackwell capacity auction and cleared 15% above its own best pricing, with management saying all of 2027 could book at those levels. Plus Applied Materials' largest sequential growth quarter in its 59 year history, Lenovo's 98% infrastructure growth, Shay's new Vertiv and ON Semiconductor positions for AI power, and the note that chips alone reach roughly $5 trillion of spend by the end of the decade. The Q&A block keeps growing and this week it earned the time: the humanoid robotics SPAC that fails the sniff test, the best AI energy stock between GE Vernova, Vertiv, and Bloom, Aehr Test Systems after a 15x run, AppLovin's make or break Q3, Cipher's messy quarter and the CEO stock sale, Credo against Astera Labs, and how Michael Burry and Jim Cramer keep getting the AI trade wrong. The show is live every Friday. If you're tracking AI infrastructure, memory, or the neo clouds, bring your tickers and questions to the chat and the guys will take them on air. If this one sharpened your read on the memory trade, a like genuinely helps the show reach more investors. Subscribe and hit the bell so you catch the next live, and tell us in the comments which constraint you think the dollars rotate to next. Chapters: 00:00 Episode 52 and the Six Five Summit slate 02:38 A memory bull flips bearish 04:05 The memory wall: a 5 to 10 year constraint 07:15 KV cache and memory beyond HBM 09:23 Sandisk investor day: the 2030 targets 11:14 Redesigning the memory hierarchy for inference 13:45 A100s contracted through 2030 15:25 CoreWeave: layers of revenue, real risks 18:48 Power is the gate: Vertiv and ON adds 21:01 Futurum's $12.7 trillion capex number 22:27 Nebius and the Blackwell auction 25:46 Selling puts on space names 28:49 ASTS and Rocket Lab: the execution risk era 31:34 Applied Materials, Cisco, and Lenovo prints 33:56 Elevated expectations, tepid reactions 36:06 Q&A: the humanoid robotics SPAC 38:37 Best AI energy stock: GEV, Vertiv, Bloom 40:42 Aehr Test Systems after a 15x run 42:06 AppLovin's make or break Q3 45:39 Cipher's miss and the CEO sale 48:29 Credo vs Astera Labs 51:22 Burry, Cramer, and the 5% that is overbuilt 55:18 SaaSpocalypse winners 57:43 The eye of the storm before NVIDIA #FuturumEquities #DanielNewman #ShayBoloor #AI #Semis #Earnings 58:20 Memory is a 5 to 10 year constraint. The 2030 guides just proved it. | Ep. 52

Memory is a 5 to 10 year constraint. The 2030 guides just proved it. | Ep. 52

Futurum Equities August 14, 2026 11:09 pm

SpaceX just delivered its first earnings report as a public company, and the number nobody modeled stole the whole show. Daniel Newman and Shay Boloor spend episode 51 on the print, the lockup everyone was selling ahead of, and why a weak jobs report has the entire AI trade breathing again. The guys go deep on SpaceX: 92% growth in an AI cloud business that was never supposed to exist at this scale, a revenue path from $44 billion this year toward $260 billion by 2029, and the math behind Shay buying the lockup fear at $109 to $110 before the print. Elon's on-record line that SpaceX runs only on Nvidia gets its own moment. From there it's Palantir's rerating: 93% growth, commercial up 150%, net dollar retention at 157%, roughly $6 billion of US commercial contract value closed, and 73 deals worth over $10 million each. Daniel calls the end of the SaaS apocalypse and explains why compute is the moat while Anthropic's street ARR pushes $85 billion. AMD gets the honest treatment: the MI350 and EPYC beat, why Lisa Su's conservative guide is the long game, and the Helios rack scale platform with its claimed 30% more tokens per dollar. Plus the no rate hike case under Kevin Warsh after a weak jobs Friday, Shay's new Vertiv position at $220 for AI power exposure, Micron over SK Hynix on HBM rate of change, and the reveal that Shay sold every share of his Tesla on a SpaceX merger theory. The back half is all viewer Q&A: the Palantir and Mercury digital twin partnership, Daniel's put selling playbook that pays him 5 to 10% of his portfolio a year in cash flow, the Oscar Health case study, T1 Energy and EOS Energy as the speculative power trades, and who actually wins when models get cheap. The show is live every Friday. If you're tracking AI infrastructure or trading this earnings season, bring your tickers and questions to the chat and the guys will take them on air. If this one helped you make sense of the tape, a like genuinely helps the show reach more investors. Subscribe and hit the bell so you catch the next live, and come tell Shay whether the Tesla exit was genius or tin hat in the comments. Chapters: 00:00 Episode 51: back from the Schwab event 04:19 Jobs Friday: the no rate hike case 09:40 Why weak data is bullish: the 10 year toward 4% 10:57 Buying the July panic and the gaslighting 15:02 Vertiv and the AI power gap 17:22 SpaceX's first earnings as a public company 20:04 The $44B to $260B ramp and the lockup buy 25:56 Sizing SpaceX and the space portfolio 28:12 AMD: Lisa Su's conservative guide and Helios 34:56 Palantir's rerating: 157% retention 38:48 The SaaSpocalypse is over 41:54 Models as commodities and the scarcity premium 44:26 Q&A: Palantir and Mercury's digital twins 46:28 Daniel's put selling playbook 51:37 T1 Energy, EOS, and Shay selling all his Tesla 54:19 Memory: Micron over SK Hynix 57:58 Who wins when models get cheap #FuturumEquities #DanielNewman #ShayBoloor #AI #SpaceX #Earnings 1:1:33 SpaceX guided to $260B by 2029. Shay bought the lockup fear. | Ep. 51

SpaceX guided to $260B by 2029. Shay bought the lockup fear. | Ep. 51

Futurum Equities August 7, 2026 11:26 am

Episode 50 lands in a strange tape. Google grew its cloud business 82% and the stock got sold anyway, and Daniel Newman and Shay Boloor spend the show on what that selling actually means for everyone holding the AI trade. The guys go deep on Alphabet's print: a $25 billion cloud quarter growing 82% with 36% operating margins, a $15 billion capex raise, and the earnings math behind Shay's call that Google is "a great business, bad investment" until EPS clears $20 again in 2029. Nvidia at 18x earnings gets the other side of that trade. From there it's the $11.7 trillion cumulative AI capex bull case through 2030, TSMC raising capex $8 billion in a quarter while flagging a bigger 2027, Intel's blowout on server CPU pricing and Shay's rule that INTC has to prove an external foundry customer to earn its price above $100, Tesla converting record deliveries into a 1% operating margin, Micron and the HBM demand curve the market keeps mispricing, and IREN's $2.8 billion AI cloud contract with roughly half the GPU capex prepaid by customers. Plus SpaceX lockup math and entry levels, Meta at 18x with Shay's $1,200 thesis, and Jensen Huang joining X mid show. The back half is all viewer Q&A: ServiceNow as the benchmark for AI software, Shay's tier one and tier two software framework, whether Meta is the best Mag 7 buy right now, IREN position sizing, and the drone bucket ahead of the Anduril IPO. The show is live every Friday. If you're tracking AI infrastructure or trading this earnings season, bring your tickers and questions to the chat and the guys will take them on air. If this one helped you make sense of the tape, a like genuinely helps the show reach more investors. Subscribe and hit the bell so you catch the next live, and come argue with Shay about NVDA at $100 in the comments. Chapters: 00:00 Episode 50: Jensen joins X and the inverse Cramer tape 01:31 Strong prints keep getting sold 03:15 AI turns political and the Apple tell 07:47 The $11.7T capex bull case 09:42 Bottleneck bros and the rate of change problem 12:56 Semis supply constrained for 4 to 5 years 16:10 Google vs Nvidia: the two year problem 18:56 Daniel's defense: capex is existential 21:37 Memory: the market is pricing the peak wrong 23:20 TSMC raises capex, the grown up signal 26:50 Intel's $100 foundry gate 34:07 Tesla: record deliveries, 1% margin 37:47 SpaceX: merger math, lockups, entry levels 43:31 Q&A: ServiceNow and the software tiers 48:57 Meta at 18x and the $1,200 case 52:46 IREN's $2.8B contract 55:45 Drones, Anduril, ASTS 59:06 The put selling playbook and NVDA $100 on record #FuturumEquities #DanielNewman #ShayBoloor #AI #Semis #Earnings 1:2:40 Google grew cloud 82% and still got sold. Where the money went. | Ep 50

Google grew cloud 82% and still got sold. Where the money went. | Ep 50

Futurum Equities July 24, 2026 11:19 am

MU at 6x earnings, NVDA at 18x, and SK Hynix listing 3x oversubscribed on NASDAQ. The memory selloff heading into the listing looked like a fundamentals problem. It wasn't. Daniel Newman sat down with the SK Group chairman on listing day. Shay Boloor walked through exactly why Micron is his cleanest memory entry right now, why NVIDIA has become the capital-safety trade in a volatile market, and where the Mag 7 relative value actually sits heading into the second half. Tickers covered: MU, NVDA, SKHYF, META, MSFT, PLTR, SNOW, DDOG, NOW, CRWD, PANW, DELL, OKLO, BE, GEV, ASTS, RKLB, HIMS, OSCR, SHOP, ADBE, CRM, SAP, AMD. Key data points from this episode: Futurum Equities $155 price target on MU. Futurum 2027 AI-only CapEx forecast of $1.44T. BofA projecting NVIDIA at 65-70% share of AI CapEx. Software names up roughly 50% off April 2025 lows. SK Hynix IPO 3-4x oversubscribed with 30-50% listing-day run risk flagged. 00:00 Intro and SK Hynix US listing context 00:43 SK Hynix NASDAQ debut and Daniel's chairman sit-down 02:14 MU price target, memory rankings, and tariff advantage 07:48 Why geopolitics won't stop AI CapEx 08:14 NVDA as the return-to-safety trade at 18x earnings 10:06 BofA NVDA revenue projection and AMD's role 11:48 Futurum 2027 AI infrastructure CapEx forecast 12:33 NVDA CPU business and Jensen's neo-cloud strategy 14:35 Bottleneck bros valuation gap: NVDA at 18x, MU at 6-8x 15:50 NVIDIA as the T-bill 19:24 META as second-best Mag 7 opportunity 20:03 MSFT at roughly 20% undervalued with $100/share upside 30:08 RKLB, HIMS, and OSCR portfolio moves 32:52 Software up 50% from April lows, rotation dynamics 34:17 Top four AI software winners: PLTR, SNOW, DDOG, SHOP 35:24 ETR survey data flagging enterprise softness risk 37:38 CRWD and PANW both post best quarters in company history 38:07 Daniel on SaaSPocalypse and the era of abundance 39:35 ADBE, CRM as system-of-record value plays 41:00 DELL up 4x YTD but 17% gross margins limit the case 42:44 OKLO down from $200 to $46, Stage 4 breakdown flagged 44:00 BE and GEV as behind-the-meter power plays 46:47 SAP vs PLTR as business AI platforms 49:12 ASTS as the pure space connectivity play 54:20 Samsung profitability data point 54:55 SK Hynix listing bag-holder risk for chasers 56:11 MU near 50-day SMA as re-entry setup #FuturumEquities #DanielNewman #ShayBoloor #AI #Investing #Markets 58:09 SK Hynix listed 3x oversubscribed. Why Micron is the cleaner entry from here. | Ep. 49

SK Hynix listed 3x oversubscribed. Why Micron is the cleaner entry from here. | Ep. 49

Futurum Equities July 8, 2026 11:24 am

PLTR, MU, META compute leasing, and the software bounce: Shay added to Palantir in the $115 range as Alex Carp's CNBC interview reframed the proprietary data moat, and every Future 15 software pick turned green in the same week. This episode covers why the application and data layer sits above frontier model companies as the durable AI winner, what META leasing 500 megawatts of excess GPU capacity actually means for neo clouds like NBIS and CRWV, and why the hosts think that sell-off was overdone. Futurum's price target on MU sits at $155 with street highs above $200. MSFT announced a $2.5B forward-deployed AI joint venture. AWS raised GPU rental prices 20%. OpenAI giving 5% equity to the US government gets called out as pure IPO valuation mechanics, not patriotism. The memory trade, physical AI sensing plays, and the AI CapEx prisoner's dilemma all get full treatment in the back half. Tickers covered: PLTR, MU, META, MSFT, NVDA, SNOW, NOW, CRM, ADBE, ORCL, NBIS, CIFR, WULF, CRWV, ASTS, AXON, AMBA, AVAV, KTOS, ACHR, JOBY 00:00 Intro 01:14 MU breaks below $100 and the memory trade thesis 05:16 Alex Carp CNBC interview and the PLTR data layer argument 08:34 OpenAI and Anthropic ARR approaching $100B 13:46 NVDA as model and cloud company via capacity deals 18:29 SNOW post-earnings and Shay's re-entry plan 19:19 MSFT as best Mag 7 opportunity and the $2.5B AI JV 20:44 Every Future 15 software pick green 23:56 META compute leasing and the neo cloud reaction 29:12 Why the neo cloud sell-off is overdone 33:45 AWS GPU rental prices up 20% and multi-year capacity locks 35:35 META $145B CapEx and 500MW compute leasing EPS math 37:25 OpenAI giving 5% equity to the US government 41:47 Futurum $155 price target on MU and memory supply through the decade 44:32 Physical AI sensing layer: AMBA and drone plays 45:12 AVAV and KTOS as drone pure-play bottom-fish trades 46:03 ACHR and JOBY eVTOL skepticism through 2029 48:32 ASTS as the last pure satellite connectivity play 49:44 AXON catches a bid on recycled news 52:00 AI CapEx prisoner's dilemma 56:15 Apple, memory, and iPhone 18 bill of materials Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions. 57:14 META flipped $145B of CapEx into a new business overnight. | Ep 48

META flipped $145B of CapEx into a new business overnight. | Ep 48

Futurum Equities July 2, 2026 9:54 am

Micron just posted 85% gross margins and NVIDIA is trading at 18x forward earnings while Intel sits at 60x. We break down why that dislocation matters and what it means for the broader AI infrastructure trade. MU's blowout quarter is the headline, but the structural story is the strategic customer agreements covering roughly 20% of DRAM and 33% of HBM supply with 60% of those contracts carrying no price ceiling. Apple's 15% product price increases confirmed the memory cost pass-through is real, and new supply capacity does not arrive in any meaningful way before 2030. We also get into NVDA at $185 to $190, PLTR with a PEG near 1.0, ORCL's $640B backlog against low-teens infrastructure margins, Cerebras' IPO sequential revenue decline, QCOM's data center push, DOCN pulling from $185 to $140, and a rapid-fire Q&A on CRWV, NBTX, CIFR, WULF, AVGO, AMD, and IRON. Chapters: 00:00 Intro and Qualcomm Investor Day recap 01:05 Micron as the quarter's marquee event 05:40 Apple's 15% price increases and the consumer paying for AI 09:00 How Micron's beats compare to early NVIDIA quarters 11:40 Strategic customer agreements and the no-price-ceiling contracts 16:55 Futurum infrastructure price target and MU EPS path to 2028 18:00 Memory margins before and after AI 19:57 Cerebras IPO breakdown and sequential revenue decline 22:00 Core Weave as a levered NVIDIA-backed infrastructure play 28:50 NVDA vs. Cerebras multiple comparison 29:50 What NVDA's $190 price implies about peak earnings 31:58 How the hosts think about long-term portfolio conviction 33:24 SoFi update 34:42 Buying quality names at a discount 35:40 Viking Therapeutics covered call strategy 38:35 Palantir PEG of 1.0 and the add thesis 41:15 Burry shorts PLTR. The hosts disagree. 43:08 Oracle's $640B backlog and the free cash flow problem 49:13 Astara Labs and Credo as data movement plays 51:09 DigitalOcean from $185 to $140 53:06 Iron AI capital allocation concerns 56:43 Cipher Mining, TeraWolf, and Nebius compared 57:52 AMD at 40x vs. NVDA at 18x 01:00:09 Intel at 60x and the full valuation dislocation picture Nothing in this video is financial advice. All content is for informational and educational purposes only. Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions. 1:1:45 MU ripped 325% YTD and the multiple is still catching up. Here's why. | Ep 47

MU ripped 325% YTD and the multiple is still catching up. Here's why. | Ep 47

Futurum Equities June 26, 2026 11:18 am

Daniel Newman and Shay Boloor are live on The Futurum Equities Podcast, breaking down how and why the Fed just handed the market a regime change disguised as a hold. If you're running any AI or tech exposure right now you need to understand what actually happened. The Fed kept rates at 3.5% to 3.75%, but that's the least interesting part of the decision. The dot plot median shifted to 3.8% year-end, nine of eighteen officials are now projecting a 2026 hike, and the cutting-bias language got stripped from the statement entirely. The 2-year Treasury confirmed it immediately, jumping 14 basis points to 4.153%. That's the bond market telling you this is structural. For NVDA, MSFT, META, GOOGL, AMZN, and PLTR, which are all priced on multi-year earnings streams, a higher discount rate compresses multiples even when the fundamentals don't change. Daniel and Shay will pressure-test each name against that reality. The hyperscaler capex commitments are also load-bearing: META guided $125 to $145 billion, MSFT is at $120 billion-plus, AMZN is at $200 billion, and GOOGL is at $175 to $185 billion. That contracted demand flows through to NVDA's data-center segment regardless of where the 2-year goes. 59:24 Fed broke the rate narrative. NVDA and AI capex face a new math | Ep 46

Fed broke the rate narrative. NVDA and AI capex face a new math | Ep 46

Futurum Equities June 18, 2026 11:12 pm

SpaceX debuted at a $2T valuation, 4x oversubscribed, and the largest IPO in history. While the market chased the narrative, NVDA fell 15% from its May highs and ARM ran. Shay closed the ARM position and rotated into NVDA at roughly $200, targeting $300 on a 24-25x earnings multiple. That's the trade the episode is really about. We break down the SpaceX IPO valuation case, why Shay sees the entry as questionable despite loving the business, and what the proxy-chasing dynamic says about where the real AI infrastructure opportunity sits right now. Oracle's OCI transition gets a full breakdown too: a $638B backlog that is larger than Amazon, Microsoft, and Google combined, but mid-teens margins against hyperscaler margins of 30-50% that explain exactly why the market is skeptical on conversion. We close with rapid-fire coverage across drone defense, AI networking names including AVGO, MRVL, ANET, COHR, and CREDO, and the power infrastructure trade with GEV, VRT, Bloom Energy, and Shay's new position in FGNT near $50. Tickers covered: NVDA, ARM, ORCL, RKLB, ASTS, PLTR, SNOW, MDB, GOOGL, AVGO, MRVL, ANET, COHR, LUMN, CREDO, CSCO, HPE, VRT, GEV, BE, FGNT, MRCY, AVAV, KTOS, TSLA 00:00 Intro 00:27 SpaceX IPO opens: $2T valuation, 4x oversubscribed 03:10 Tesla vs SpaceX: narrative structure and valuation parallels 06:52 Google's SpaceX stake and the $35B Anthropic TPU deal 09:11 Shay on the IPO entry point and proxy halo effect 09:51 RKLB and ASTS: owning the space proxies from $3 and $2 15:20 NVDA valuation disconnect: the category leader nobody is bidding 15:40 Why Shay closed ARM and bought NVDA at $200 19:58 Oracle OCI: $638B backlog, mid-teens margins, conversion skepticism 28:45 PLTR and SNOW: AI software names that are actually executing 36:09 Futurum bull case: $5.7T AI CapEx in 2035 alone 37:20 Jensen's numbers: $80-100B per gigawatt, $10-30B token revenue per gigawatt per year 40:44 Google's $35B TPU backstop for Anthropic pre-IPO 43:30 Compute as independence: why everyone is racing to be unconstrained 47:53 AVGO, MRVL, ANET, COHR, CREDO: the networking layer breakdown 51:30 HPE and CSCO hitting all-time highs on enterprise and sovereign AI demand 53:35 Drone defense: AVAV, KTOS, MRCY as the picks-and-shovels layer 54:45 Power trade: VRT, GEV, BE, and FGNT as Shay's new add near $50 59:00 Closing: power constrained for years, space is an add-on not a replacement Subscribe and follow Futurum Equities for live market analysis on the names and narratives moving capital. Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions. 1:0:15 Oracle's $638B backlog and SpaceX's index clock. What breaks next.

Oracle's $638B backlog and SpaceX's index clock. What breaks next.

Futurum Equities June 12, 2026 11:36 am

Watch as Shay & Daniel break down Broadcom's 15% post-earnings collapse, NVIDIA's stubborn undervaluation at ~20x forward earnings vs. AMD's 40x and Intel's 60x+, and the dangerous valuation distortions emerging across the AI ecosystem ahead of the SpaceX and OpenAI IPOs. This episode dissects: • Why NVIDIA remains the king of the AI infrastructure economy despite market euphoria • Broadcom's "Uncle Sam of AI" role and why 100B in 2027 revenue wasn't enough • ARM's $500B market cap exuberance trade vs. NVIDIA's rational pricing • Snowflake's 34% product revenue reacceleration and data infrastructure separation • CrowdStrike and Palo Alto as clear AI cybersecurity winners (with valuation caveats) • HPE's 30% earnings beat and 50% monthly gain via compute & networking dominance • Zscaler's alarming 10% organic growth deceleration • The SpaceX $1.75T valuation vs. $800B fair value: $1T of pure exuberance • Why rate expectations just shifted the entire market narrative • Marvell's 33% jump on Jensen Huang's trillion-dollar comment Timestamps: 00:00 — Intro & Market Open: Bloody Friday Recap 02:10 — "Endless up into the right never ends well" 02:46 — Bitcoin Capitulation Watch 03:45 — NVIDIA: $20x Earnings, The Cheapest AI Name 05:19 — Marvell's Trillion-Dollar Moment 06:22 — Why AMD at 40x & Intel at 60x Make No Sense vs. NVDA 06:30 — Broadcom -15% Post-Earnings: TPU Wars & MediaTek Threat 12:43 — Apple as Flight-to-Safety AI Stock (WWDC Surface AI) 13:10 — Futurum's $10 Trillion AI Infrastructure Thesis 14:10 — NVIDIA's TSMC Supply Chain Moat 15:32 — ARM at $500B: Small Float Exuberance Trade 19:10 — NVIDIA's CPU/PC Play: Creating New Markets 25:47 — Broadcom's 100B Target Not Raised: Investor Disappointment 26:40 — Google TPU + MediaTek Second-Sourcing Risk 31:08 — IBM Up 8% on Recycled Trump Clip: Frothy Markets 31:44 — Broadcom as "Uncle Sam of AI" 34:23 — AeroVironment: First-Mover Drone Name Pre-Andruil IPO 35:38 — "If you're in anything other than AI infrastructure, you're underperforming" 38:10 — Jobs Report Doubled Expectations: Rate Cut Odds Collapse 40:05 — Snowflake: 34% Product Growth, 38% RPO Growth, 2.3B Guide Raise 42:52 — HPE: 30% Beat, 50% Monthly Gain, Two-Year Targets Hit Early 44:13 — CrowdStrike -11% Then -3%: Top Cybersecurity Name, Valuation the Risk 44:20 — Zscaler: Only 10% Organic Growth Guided (Alarming Deceleration) 46:07 — Palo Alto as Co-Winner in AI Cybersecurity 46:22 — GitLab Losing Duopoly: No AI Proof, Likely Acquisition Target 48:30 — Robinhood: Rate & Crypto Sensitive, $150 Long-Term Target 48:36 — SoFi Preferred Over Hood: Core Business Strength 50:45 — SpaceX at $1.75T: $800B Fair Value, $1T Exuberance Premium 51:08 — "You can be bullish on the company and not be bullish on the stock" 51:28 — Rocket Lab & AST SpaceMobile: Space Exposure Already Held Subscribe and follow Futurum Equities for live market analysis on the names and narratives moving capital. Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions. 53:40 Anthropic's S-1 just repriced AMZN, GOOGL, and MSFT | Ep. 44

Anthropic's S-1 just repriced AMZN, GOOGL, and MSFT | Ep. 44

Futurum Equities June 5, 2026 11:38 am

sentiment

powered by

DAILY RIP

powered by

A prominent memory bull flipped short term bearish over the weekend, and Sandisk answered with an investor day that guides to 80% gross margins out to 2030. Daniel Newman and Shay Boloor spend episode 52 on the memory wall, the week the GPU depreciation bear case broke, and Futurum's new $12.7 trillion AI capex number. The guys open on the memory debate: why every semiconductor and systems company is trying to engineer around the memory wall with stacking, optics, and software, and why Daniel still calls memory a 5 to 10 year constraint. Sandisk's investor day gets the full treatment: mid to high teens growth guided through fiscal 2030, 80% non GAAP gross margins, free cash flow at 50% of revenue, KV cache reaching 35% of AI data center NAND workloads by 2030, and the first HBF die coming in 2027. Shay explains his Micron 2027 call position and why memory stays rationed while GPU capacity commands premiums. Then the neo clouds: CoreWeave signed five year A100 contracts on silicon that is already six years old, grew its order book twice as fast as revenue, and passed $400 million in annualized non GPU business. Nebius ran the first Blackwell capacity auction and cleared 15% above its own best pricing, with management saying all of 2027 could book at those levels. Plus Applied Materials' largest sequential growth quarter in its 59 year history, Lenovo's 98% infrastructure growth, Shay's new Vertiv and ON Semiconductor positions for AI power, and the note that chips alone reach roughly $5 trillion of spend by the end of the decade. The Q&A block keeps growing and this week it earned the time: the humanoid robotics SPAC that fails the sniff test, the best AI energy stock between GE Vernova, Vertiv, and Bloom, Aehr Test Systems after a 15x run, AppLovin's make or break Q3, Cipher's messy quarter and the CEO stock sale, Credo against Astera Labs, and how Michael Burry and Jim Cramer keep getting the AI trade wrong. The show is live every Friday. If you're tracking AI infrastructure, memory, or the neo clouds, bring your tickers and questions to the chat and the guys will take them on air. If this one sharpened your read on the memory trade, a like genuinely helps the show reach more investors. Subscribe and hit the bell so you catch the next live, and tell us in the comments which constraint you think the dollars rotate to next. Chapters: 00:00 Episode 52 and the Six Five Summit slate 02:38 A memory bull flips bearish 04:05 The memory wall: a 5 to 10 year constraint 07:15 KV cache and memory beyond HBM 09:23 Sandisk investor day: the 2030 targets 11:14 Redesigning the memory hierarchy for inference 13:45 A100s contracted through 2030 15:25 CoreWeave: layers of revenue, real risks 18:48 Power is the gate: Vertiv and ON adds 21:01 Futurum's $12.7 trillion capex number 22:27 Nebius and the Blackwell auction 25:46 Selling puts on space names 28:49 ASTS and Rocket Lab: the execution risk era 31:34 Applied Materials, Cisco, and Lenovo prints 33:56 Elevated expectations, tepid reactions 36:06 Q&A: the humanoid robotics SPAC 38:37 Best AI energy stock: GEV, Vertiv, Bloom 40:42 Aehr Test Systems after a 15x run 42:06 AppLovin's make or break Q3 45:39 Cipher's miss and the CEO sale 48:29 Credo vs Astera Labs 51:22 Burry, Cramer, and the 5% that is overbuilt 55:18 SaaSpocalypse winners 57:43 The eye of the storm before NVIDIA #FuturumEquities #DanielNewman #ShayBoloor #AI #Semis #Earnings 58:20 Memory is a 5 to 10 year constraint. The 2030 guides just proved it. | Ep. 52

Memory is a 5 to 10 year constraint. The 2030 guides just proved it. | Ep. 52

Futurum Equities August 14, 2026 11:09 pm

SpaceX just delivered its first earnings report as a public company, and the number nobody modeled stole the whole show. Daniel Newman and Shay Boloor spend episode 51 on the print, the lockup everyone was selling ahead of, and why a weak jobs report has the entire AI trade breathing again. The guys go deep on SpaceX: 92% growth in an AI cloud business that was never supposed to exist at this scale, a revenue path from $44 billion this year toward $260 billion by 2029, and the math behind Shay buying the lockup fear at $109 to $110 before the print. Elon's on-record line that SpaceX runs only on Nvidia gets its own moment. From there it's Palantir's rerating: 93% growth, commercial up 150%, net dollar retention at 157%, roughly $6 billion of US commercial contract value closed, and 73 deals worth over $10 million each. Daniel calls the end of the SaaS apocalypse and explains why compute is the moat while Anthropic's street ARR pushes $85 billion. AMD gets the honest treatment: the MI350 and EPYC beat, why Lisa Su's conservative guide is the long game, and the Helios rack scale platform with its claimed 30% more tokens per dollar. Plus the no rate hike case under Kevin Warsh after a weak jobs Friday, Shay's new Vertiv position at $220 for AI power exposure, Micron over SK Hynix on HBM rate of change, and the reveal that Shay sold every share of his Tesla on a SpaceX merger theory. The back half is all viewer Q&A: the Palantir and Mercury digital twin partnership, Daniel's put selling playbook that pays him 5 to 10% of his portfolio a year in cash flow, the Oscar Health case study, T1 Energy and EOS Energy as the speculative power trades, and who actually wins when models get cheap. The show is live every Friday. If you're tracking AI infrastructure or trading this earnings season, bring your tickers and questions to the chat and the guys will take them on air. If this one helped you make sense of the tape, a like genuinely helps the show reach more investors. Subscribe and hit the bell so you catch the next live, and come tell Shay whether the Tesla exit was genius or tin hat in the comments. Chapters: 00:00 Episode 51: back from the Schwab event 04:19 Jobs Friday: the no rate hike case 09:40 Why weak data is bullish: the 10 year toward 4% 10:57 Buying the July panic and the gaslighting 15:02 Vertiv and the AI power gap 17:22 SpaceX's first earnings as a public company 20:04 The $44B to $260B ramp and the lockup buy 25:56 Sizing SpaceX and the space portfolio 28:12 AMD: Lisa Su's conservative guide and Helios 34:56 Palantir's rerating: 157% retention 38:48 The SaaSpocalypse is over 41:54 Models as commodities and the scarcity premium 44:26 Q&A: Palantir and Mercury's digital twins 46:28 Daniel's put selling playbook 51:37 T1 Energy, EOS, and Shay selling all his Tesla 54:19 Memory: Micron over SK Hynix 57:58 Who wins when models get cheap #FuturumEquities #DanielNewman #ShayBoloor #AI #SpaceX #Earnings 1:1:33 SpaceX guided to $260B by 2029. Shay bought the lockup fear. | Ep. 51

SpaceX guided to $260B by 2029. Shay bought the lockup fear. | Ep. 51

Futurum Equities August 7, 2026 11:26 am

Episode 50 lands in a strange tape. Google grew its cloud business 82% and the stock got sold anyway, and Daniel Newman and Shay Boloor spend the show on what that selling actually means for everyone holding the AI trade. The guys go deep on Alphabet's print: a $25 billion cloud quarter growing 82% with 36% operating margins, a $15 billion capex raise, and the earnings math behind Shay's call that Google is "a great business, bad investment" until EPS clears $20 again in 2029. Nvidia at 18x earnings gets the other side of that trade. From there it's the $11.7 trillion cumulative AI capex bull case through 2030, TSMC raising capex $8 billion in a quarter while flagging a bigger 2027, Intel's blowout on server CPU pricing and Shay's rule that INTC has to prove an external foundry customer to earn its price above $100, Tesla converting record deliveries into a 1% operating margin, Micron and the HBM demand curve the market keeps mispricing, and IREN's $2.8 billion AI cloud contract with roughly half the GPU capex prepaid by customers. Plus SpaceX lockup math and entry levels, Meta at 18x with Shay's $1,200 thesis, and Jensen Huang joining X mid show. The back half is all viewer Q&A: ServiceNow as the benchmark for AI software, Shay's tier one and tier two software framework, whether Meta is the best Mag 7 buy right now, IREN position sizing, and the drone bucket ahead of the Anduril IPO. The show is live every Friday. If you're tracking AI infrastructure or trading this earnings season, bring your tickers and questions to the chat and the guys will take them on air. If this one helped you make sense of the tape, a like genuinely helps the show reach more investors. Subscribe and hit the bell so you catch the next live, and come argue with Shay about NVDA at $100 in the comments. Chapters: 00:00 Episode 50: Jensen joins X and the inverse Cramer tape 01:31 Strong prints keep getting sold 03:15 AI turns political and the Apple tell 07:47 The $11.7T capex bull case 09:42 Bottleneck bros and the rate of change problem 12:56 Semis supply constrained for 4 to 5 years 16:10 Google vs Nvidia: the two year problem 18:56 Daniel's defense: capex is existential 21:37 Memory: the market is pricing the peak wrong 23:20 TSMC raises capex, the grown up signal 26:50 Intel's $100 foundry gate 34:07 Tesla: record deliveries, 1% margin 37:47 SpaceX: merger math, lockups, entry levels 43:31 Q&A: ServiceNow and the software tiers 48:57 Meta at 18x and the $1,200 case 52:46 IREN's $2.8B contract 55:45 Drones, Anduril, ASTS 59:06 The put selling playbook and NVDA $100 on record #FuturumEquities #DanielNewman #ShayBoloor #AI #Semis #Earnings 1:2:40 Google grew cloud 82% and still got sold. Where the money went. | Ep 50

Google grew cloud 82% and still got sold. Where the money went. | Ep 50

Futurum Equities July 24, 2026 11:19 am

MU at 6x earnings, NVDA at 18x, and SK Hynix listing 3x oversubscribed on NASDAQ. The memory selloff heading into the listing looked like a fundamentals problem. It wasn't. Daniel Newman sat down with the SK Group chairman on listing day. Shay Boloor walked through exactly why Micron is his cleanest memory entry right now, why NVIDIA has become the capital-safety trade in a volatile market, and where the Mag 7 relative value actually sits heading into the second half. Tickers covered: MU, NVDA, SKHYF, META, MSFT, PLTR, SNOW, DDOG, NOW, CRWD, PANW, DELL, OKLO, BE, GEV, ASTS, RKLB, HIMS, OSCR, SHOP, ADBE, CRM, SAP, AMD. Key data points from this episode: Futurum Equities $155 price target on MU. Futurum 2027 AI-only CapEx forecast of $1.44T. BofA projecting NVIDIA at 65-70% share of AI CapEx. Software names up roughly 50% off April 2025 lows. SK Hynix IPO 3-4x oversubscribed with 30-50% listing-day run risk flagged. 00:00 Intro and SK Hynix US listing context 00:43 SK Hynix NASDAQ debut and Daniel's chairman sit-down 02:14 MU price target, memory rankings, and tariff advantage 07:48 Why geopolitics won't stop AI CapEx 08:14 NVDA as the return-to-safety trade at 18x earnings 10:06 BofA NVDA revenue projection and AMD's role 11:48 Futurum 2027 AI infrastructure CapEx forecast 12:33 NVDA CPU business and Jensen's neo-cloud strategy 14:35 Bottleneck bros valuation gap: NVDA at 18x, MU at 6-8x 15:50 NVIDIA as the T-bill 19:24 META as second-best Mag 7 opportunity 20:03 MSFT at roughly 20% undervalued with $100/share upside 30:08 RKLB, HIMS, and OSCR portfolio moves 32:52 Software up 50% from April lows, rotation dynamics 34:17 Top four AI software winners: PLTR, SNOW, DDOG, SHOP 35:24 ETR survey data flagging enterprise softness risk 37:38 CRWD and PANW both post best quarters in company history 38:07 Daniel on SaaSPocalypse and the era of abundance 39:35 ADBE, CRM as system-of-record value plays 41:00 DELL up 4x YTD but 17% gross margins limit the case 42:44 OKLO down from $200 to $46, Stage 4 breakdown flagged 44:00 BE and GEV as behind-the-meter power plays 46:47 SAP vs PLTR as business AI platforms 49:12 ASTS as the pure space connectivity play 54:20 Samsung profitability data point 54:55 SK Hynix listing bag-holder risk for chasers 56:11 MU near 50-day SMA as re-entry setup #FuturumEquities #DanielNewman #ShayBoloor #AI #Investing #Markets 58:09 SK Hynix listed 3x oversubscribed. Why Micron is the cleaner entry from here. | Ep. 49

SK Hynix listed 3x oversubscribed. Why Micron is the cleaner entry from here. | Ep. 49

Futurum Equities July 8, 2026 11:24 am

PLTR, MU, META compute leasing, and the software bounce: Shay added to Palantir in the $115 range as Alex Carp's CNBC interview reframed the proprietary data moat, and every Future 15 software pick turned green in the same week. This episode covers why the application and data layer sits above frontier model companies as the durable AI winner, what META leasing 500 megawatts of excess GPU capacity actually means for neo clouds like NBIS and CRWV, and why the hosts think that sell-off was overdone. Futurum's price target on MU sits at $155 with street highs above $200. MSFT announced a $2.5B forward-deployed AI joint venture. AWS raised GPU rental prices 20%. OpenAI giving 5% equity to the US government gets called out as pure IPO valuation mechanics, not patriotism. The memory trade, physical AI sensing plays, and the AI CapEx prisoner's dilemma all get full treatment in the back half. Tickers covered: PLTR, MU, META, MSFT, NVDA, SNOW, NOW, CRM, ADBE, ORCL, NBIS, CIFR, WULF, CRWV, ASTS, AXON, AMBA, AVAV, KTOS, ACHR, JOBY 00:00 Intro 01:14 MU breaks below $100 and the memory trade thesis 05:16 Alex Carp CNBC interview and the PLTR data layer argument 08:34 OpenAI and Anthropic ARR approaching $100B 13:46 NVDA as model and cloud company via capacity deals 18:29 SNOW post-earnings and Shay's re-entry plan 19:19 MSFT as best Mag 7 opportunity and the $2.5B AI JV 20:44 Every Future 15 software pick green 23:56 META compute leasing and the neo cloud reaction 29:12 Why the neo cloud sell-off is overdone 33:45 AWS GPU rental prices up 20% and multi-year capacity locks 35:35 META $145B CapEx and 500MW compute leasing EPS math 37:25 OpenAI giving 5% equity to the US government 41:47 Futurum $155 price target on MU and memory supply through the decade 44:32 Physical AI sensing layer: AMBA and drone plays 45:12 AVAV and KTOS as drone pure-play bottom-fish trades 46:03 ACHR and JOBY eVTOL skepticism through 2029 48:32 ASTS as the last pure satellite connectivity play 49:44 AXON catches a bid on recycled news 52:00 AI CapEx prisoner's dilemma 56:15 Apple, memory, and iPhone 18 bill of materials Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions. 57:14 META flipped $145B of CapEx into a new business overnight. | Ep 48

META flipped $145B of CapEx into a new business overnight. | Ep 48

Futurum Equities July 2, 2026 9:54 am

Micron just posted 85% gross margins and NVIDIA is trading at 18x forward earnings while Intel sits at 60x. We break down why that dislocation matters and what it means for the broader AI infrastructure trade. MU's blowout quarter is the headline, but the structural story is the strategic customer agreements covering roughly 20% of DRAM and 33% of HBM supply with 60% of those contracts carrying no price ceiling. Apple's 15% product price increases confirmed the memory cost pass-through is real, and new supply capacity does not arrive in any meaningful way before 2030. We also get into NVDA at $185 to $190, PLTR with a PEG near 1.0, ORCL's $640B backlog against low-teens infrastructure margins, Cerebras' IPO sequential revenue decline, QCOM's data center push, DOCN pulling from $185 to $140, and a rapid-fire Q&A on CRWV, NBTX, CIFR, WULF, AVGO, AMD, and IRON. Chapters: 00:00 Intro and Qualcomm Investor Day recap 01:05 Micron as the quarter's marquee event 05:40 Apple's 15% price increases and the consumer paying for AI 09:00 How Micron's beats compare to early NVIDIA quarters 11:40 Strategic customer agreements and the no-price-ceiling contracts 16:55 Futurum infrastructure price target and MU EPS path to 2028 18:00 Memory margins before and after AI 19:57 Cerebras IPO breakdown and sequential revenue decline 22:00 Core Weave as a levered NVIDIA-backed infrastructure play 28:50 NVDA vs. Cerebras multiple comparison 29:50 What NVDA's $190 price implies about peak earnings 31:58 How the hosts think about long-term portfolio conviction 33:24 SoFi update 34:42 Buying quality names at a discount 35:40 Viking Therapeutics covered call strategy 38:35 Palantir PEG of 1.0 and the add thesis 41:15 Burry shorts PLTR. The hosts disagree. 43:08 Oracle's $640B backlog and the free cash flow problem 49:13 Astara Labs and Credo as data movement plays 51:09 DigitalOcean from $185 to $140 53:06 Iron AI capital allocation concerns 56:43 Cipher Mining, TeraWolf, and Nebius compared 57:52 AMD at 40x vs. NVDA at 18x 01:00:09 Intel at 60x and the full valuation dislocation picture Nothing in this video is financial advice. All content is for informational and educational purposes only. Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions. 1:1:45 MU ripped 325% YTD and the multiple is still catching up. Here's why. | Ep 47

MU ripped 325% YTD and the multiple is still catching up. Here's why. | Ep 47

Futurum Equities June 26, 2026 11:18 am

Daniel Newman and Shay Boloor are live on The Futurum Equities Podcast, breaking down how and why the Fed just handed the market a regime change disguised as a hold. If you're running any AI or tech exposure right now you need to understand what actually happened. The Fed kept rates at 3.5% to 3.75%, but that's the least interesting part of the decision. The dot plot median shifted to 3.8% year-end, nine of eighteen officials are now projecting a 2026 hike, and the cutting-bias language got stripped from the statement entirely. The 2-year Treasury confirmed it immediately, jumping 14 basis points to 4.153%. That's the bond market telling you this is structural. For NVDA, MSFT, META, GOOGL, AMZN, and PLTR, which are all priced on multi-year earnings streams, a higher discount rate compresses multiples even when the fundamentals don't change. Daniel and Shay will pressure-test each name against that reality. The hyperscaler capex commitments are also load-bearing: META guided $125 to $145 billion, MSFT is at $120 billion-plus, AMZN is at $200 billion, and GOOGL is at $175 to $185 billion. That contracted demand flows through to NVDA's data-center segment regardless of where the 2-year goes. 59:24 Fed broke the rate narrative. NVDA and AI capex face a new math | Ep 46

Fed broke the rate narrative. NVDA and AI capex face a new math | Ep 46

Futurum Equities June 18, 2026 11:12 pm

SpaceX debuted at a $2T valuation, 4x oversubscribed, and the largest IPO in history. While the market chased the narrative, NVDA fell 15% from its May highs and ARM ran. Shay closed the ARM position and rotated into NVDA at roughly $200, targeting $300 on a 24-25x earnings multiple. That's the trade the episode is really about. We break down the SpaceX IPO valuation case, why Shay sees the entry as questionable despite loving the business, and what the proxy-chasing dynamic says about where the real AI infrastructure opportunity sits right now. Oracle's OCI transition gets a full breakdown too: a $638B backlog that is larger than Amazon, Microsoft, and Google combined, but mid-teens margins against hyperscaler margins of 30-50% that explain exactly why the market is skeptical on conversion. We close with rapid-fire coverage across drone defense, AI networking names including AVGO, MRVL, ANET, COHR, and CREDO, and the power infrastructure trade with GEV, VRT, Bloom Energy, and Shay's new position in FGNT near $50. Tickers covered: NVDA, ARM, ORCL, RKLB, ASTS, PLTR, SNOW, MDB, GOOGL, AVGO, MRVL, ANET, COHR, LUMN, CREDO, CSCO, HPE, VRT, GEV, BE, FGNT, MRCY, AVAV, KTOS, TSLA 00:00 Intro 00:27 SpaceX IPO opens: $2T valuation, 4x oversubscribed 03:10 Tesla vs SpaceX: narrative structure and valuation parallels 06:52 Google's SpaceX stake and the $35B Anthropic TPU deal 09:11 Shay on the IPO entry point and proxy halo effect 09:51 RKLB and ASTS: owning the space proxies from $3 and $2 15:20 NVDA valuation disconnect: the category leader nobody is bidding 15:40 Why Shay closed ARM and bought NVDA at $200 19:58 Oracle OCI: $638B backlog, mid-teens margins, conversion skepticism 28:45 PLTR and SNOW: AI software names that are actually executing 36:09 Futurum bull case: $5.7T AI CapEx in 2035 alone 37:20 Jensen's numbers: $80-100B per gigawatt, $10-30B token revenue per gigawatt per year 40:44 Google's $35B TPU backstop for Anthropic pre-IPO 43:30 Compute as independence: why everyone is racing to be unconstrained 47:53 AVGO, MRVL, ANET, COHR, CREDO: the networking layer breakdown 51:30 HPE and CSCO hitting all-time highs on enterprise and sovereign AI demand 53:35 Drone defense: AVAV, KTOS, MRCY as the picks-and-shovels layer 54:45 Power trade: VRT, GEV, BE, and FGNT as Shay's new add near $50 59:00 Closing: power constrained for years, space is an add-on not a replacement Subscribe and follow Futurum Equities for live market analysis on the names and narratives moving capital. Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions. 1:0:15 Oracle's $638B backlog and SpaceX's index clock. What breaks next.

Oracle's $638B backlog and SpaceX's index clock. What breaks next.

Futurum Equities June 12, 2026 11:36 am

Watch as Shay & Daniel break down Broadcom's 15% post-earnings collapse, NVIDIA's stubborn undervaluation at ~20x forward earnings vs. AMD's 40x and Intel's 60x+, and the dangerous valuation distortions emerging across the AI ecosystem ahead of the SpaceX and OpenAI IPOs. This episode dissects: • Why NVIDIA remains the king of the AI infrastructure economy despite market euphoria • Broadcom's "Uncle Sam of AI" role and why 100B in 2027 revenue wasn't enough • ARM's $500B market cap exuberance trade vs. NVIDIA's rational pricing • Snowflake's 34% product revenue reacceleration and data infrastructure separation • CrowdStrike and Palo Alto as clear AI cybersecurity winners (with valuation caveats) • HPE's 30% earnings beat and 50% monthly gain via compute & networking dominance • Zscaler's alarming 10% organic growth deceleration • The SpaceX $1.75T valuation vs. $800B fair value: $1T of pure exuberance • Why rate expectations just shifted the entire market narrative • Marvell's 33% jump on Jensen Huang's trillion-dollar comment Timestamps: 00:00 — Intro & Market Open: Bloody Friday Recap 02:10 — "Endless up into the right never ends well" 02:46 — Bitcoin Capitulation Watch 03:45 — NVIDIA: $20x Earnings, The Cheapest AI Name 05:19 — Marvell's Trillion-Dollar Moment 06:22 — Why AMD at 40x & Intel at 60x Make No Sense vs. NVDA 06:30 — Broadcom -15% Post-Earnings: TPU Wars & MediaTek Threat 12:43 — Apple as Flight-to-Safety AI Stock (WWDC Surface AI) 13:10 — Futurum's $10 Trillion AI Infrastructure Thesis 14:10 — NVIDIA's TSMC Supply Chain Moat 15:32 — ARM at $500B: Small Float Exuberance Trade 19:10 — NVIDIA's CPU/PC Play: Creating New Markets 25:47 — Broadcom's 100B Target Not Raised: Investor Disappointment 26:40 — Google TPU + MediaTek Second-Sourcing Risk 31:08 — IBM Up 8% on Recycled Trump Clip: Frothy Markets 31:44 — Broadcom as "Uncle Sam of AI" 34:23 — AeroVironment: First-Mover Drone Name Pre-Andruil IPO 35:38 — "If you're in anything other than AI infrastructure, you're underperforming" 38:10 — Jobs Report Doubled Expectations: Rate Cut Odds Collapse 40:05 — Snowflake: 34% Product Growth, 38% RPO Growth, 2.3B Guide Raise 42:52 — HPE: 30% Beat, 50% Monthly Gain, Two-Year Targets Hit Early 44:13 — CrowdStrike -11% Then -3%: Top Cybersecurity Name, Valuation the Risk 44:20 — Zscaler: Only 10% Organic Growth Guided (Alarming Deceleration) 46:07 — Palo Alto as Co-Winner in AI Cybersecurity 46:22 — GitLab Losing Duopoly: No AI Proof, Likely Acquisition Target 48:30 — Robinhood: Rate & Crypto Sensitive, $150 Long-Term Target 48:36 — SoFi Preferred Over Hood: Core Business Strength 50:45 — SpaceX at $1.75T: $800B Fair Value, $1T Exuberance Premium 51:08 — "You can be bullish on the company and not be bullish on the stock" 51:28 — Rocket Lab & AST SpaceMobile: Space Exposure Already Held Subscribe and follow Futurum Equities for live market analysis on the names and narratives moving capital. Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions. 53:40 Anthropic's S-1 just repriced AMZN, GOOGL, and MSFT | Ep. 44

Anthropic's S-1 just repriced AMZN, GOOGL, and MSFT | Ep. 44

Futurum Equities June 5, 2026 11:38 am

INSIGHTS

powered by

Feedback

Rate your experience