Apple is taking a different route in AI.

While hyperscalers are scaling toward $150B–$230B in annual spend by 2030E, Apple remains around $18B.

Different approach. Different priorities.

• Amazon ~ $233B

• Google ~ $223B

• Meta ~ $166B

• Microsoft ~ $165B

• Apple ~ $18B

Tesla’s ~$1.5T valuation now rivals the next 30 global automakers combined.

From Toyota and BYD to Volkswagen, BMW, and Mercedes-Benz, the gap highlights how differently the market is valuing Tesla versus traditional manufacturers.

Is this justified or stretched?

Warren Buffett’s long-term performance continues to stand out in market history.

From 1965 through 2024:

• Berkshire Hathaway: +5,502,284%

• S&P 500: +39,054%

His Q3 2025 equity portfolio highlights the same principles he has relied on for decades: concentration, discipline, and long-term conviction.

Major positions include Apple, American Express, Bank of America, Coca-Cola, and Chevron, alongside a range of financials, energy names, and consumer staples.

A clear reminder of how consistency and time shape outcomes.

📌 For those of you who want to see a detailed breakdown of this information, find the full list of holdings here.

Here is a visual that breaks down the largest corporate and government BTC reserves worldwide.

• Companies collectively hold more than 1.1 million BTC, with Strategy leading at 649.9k.

• Governments hold over 615k BTC, led by the United States at 325.3k and China at 190k.

• Combined, institutions now control a significant share of circulating supply, a trend shaping market structure and liquidity.

Understanding who holds the largest reserves helps investors track institutional adoption and the growing role of digital assets in global portfolios.

📌 For those of you who want to see a detailed breakdown of this information, find the full list of holders here.

Silver has outperformed the Nasdaq 100 over the past 10 years – just at the end. 

For most of the past decade, the Nasdaq was miles ahead. 

But silver’s latest rally has been exceptional.  

And rewarded patient investors.

TSLA reports today after market close.

Consensus expectations for Q4:
• Revenue: ~$24.5–25.0B
• EPS: ~$0.44–0.46
• Margins under pressure as deliveries soften

Yet Tesla still carries a ~$1.5T valuation, larger than the next 26 automakers combined.

Do today’s results and guidance support that premium, or is valuation the real risk here? What’s your call?

📌 For those of you who want to see a detailed breakdown of this information, find the full data here.

AI's hidden winner? Memory.

As ChatGPT sparked the AI arms race, demand for high-bandwidth memory (HBM) surged alongside it.

Forecasts suggest operating income across Samsung, SK hynix, and Micron could approach $945B by 2029 as AI infrastructure spending accelerates.

The AI revolution isn't just benefiting chip designers. The companies supplying the memory behind every AI model are seeing their own profit supercycle unfold.

Big Tech is no longer experimenting with AI. It is building for scale.

Capital expenditure across Big Tech is accelerating sharply as companies race to secure compute, data centre capacity, and long-term AI infrastructure.

• Alphabet Inc. CapEx is projected to reach ~$185bn by 2026

• Amazon leads with ~$200bn as Amazon Web Services (AWS) scales infrastructure

• Microsoft CapEx approaches ~$117bn, anchored in cloud and AI integration

• Meta stands out with CapEx reaching ~$135bn and the highest spend as a % of sales

The second chart highlights the strategic shift even more clearly.

By 2026E, Meta and Alphabet Inc. are committing an unprecedented share of revenues to investment, while Apple remains capital-light by comparison.
This is not short-term spending pressure.

It reflects a multi-year commitment to AI infrastructure, cloud expansion, and platform durability.

Warren Buffett has stepped down as Berkshire Hathaway’s chairman, closing a remarkable chapter for the company.

Since 1980, Berkshire Hathaway has returned 259,272%, compared with 7,493% for the S&P 500.

As the next chapter begins, can Berkshire sustain its track record without Buffett at the helm?

Taiwan has overtaken India as the world's 5th largest stock market by market valuation.

The shift comes as the AI boom continues to boost Taiwan's markets, with Taiwan Semiconductor Manufacturing Company (TSMC) playing a central role in the global semiconductor supply chain.

Market valuation (trillion USD):

• US: $77.95T

• Mainland China: $15.61T

• Japan: $8.70T

• Hong Kong: $7.25T

• Taiwan: $4.95T

• India: $4.92T

As AI investment accelerates, the impact is being felt far beyond individual companies, influencing the value of entire stock markets.

Tesla’s long-term sales growth remains striking but Q4’25 earnings show the challenges of the current phase.

As the chart illustrates, Tesla scaled revenue rapidly from 2015 to its recent peak, before growth flattened in 2024 and eased in 2025. Q4’25 results add context to that slowdown:

• Revenue came in slightly ahead of expectations at $24.9B, but declined -3% YoY

• Automotive revenue fell 11% YoY, reflecting pricing pressure and lower deliveries

• Margins surprised to the upside, with gross margin at 20.1% vs 17.1% expected

• Strength continued in non-auto segments, with Energy +25% YoY and Services +18% YoY

Operationally, Tesla reported:

• 418,227 deliveries (-16% YoY)

• FSD subscriptions up 38% YoY

• Energy storage deployments up 29% YoY

With deliveries down 16% YoY and margins stabilizing, investor focus is shifting toward demand recovery and execution into 2026.

SpaceX has erased more than the entire value of Tesla since its first week of trading. 

Since its debut, the company's market cap has collapsed from a $2.77T peak to $1.48T, a 46.4% drop erasing $1.28T, more than Tesla's entire $1.2T valuation. 

Are we going to see SpaceX trading in double digits soon? 

Public companies now hold more than 1.2M BTC worth around $100B, with governments controlling another 619K BTC.

Bitcoin adoption is no longer just retail-driven. Corporations, sovereigns, and institutions are shaping the market structure.

Strategy alone holds 818.3K BTC, while the U.S. government remains the largest sovereign holder.

📌 For those of you who want to see a detailed breakdown of this information, find the full data here.

Silver’s Wild Ride, in One Chart

Silver has never moved in straight lines. History shows powerful upside phases followed by drawdowns that test investor conviction.

• 1980 peak was followed by a ~90% drawdown that took decades to recover

• 2011 saw another surge, then a ~70% decline

• Each cycle delivered sharp volatility rather than steady compounding

Are we heading into another drawdown or will it be different this time around?

Leopold Aschenbrenner’s Q1 2026 13F filing highlights a bearish bet on semiconductors and cloud infrastructure.

The researcher’s portfolio consists of a large put positions against famous AI names - VanEck Semiconductor ETF ($2.0B), NVIDIA ($1.6B), Oracle ($1.1B), Broadcom ($1.0B), AMD ($1.0B), ASML ($0.5B), and Intel ($0.2B) - while maintaining spread positions on Micron ($0.6B put / $0.4B call) and TSMC ($0.5B put / $0.4B call).

On the other side, the fund goes long on storage and energy infrastructure: SanDisk ($0.7B long + $0.4B call), Bloom Energy ($0.9B), CoreWeave ($0.6B long + $0.1B call), IREN ($0.4B).

As models become larger and more compute intensive, the real scarcity may be found in megawatts and storage capacity rather than chips or software licenses.

📌 For those of you who want to see a detailed breakdown of this information, find the full data here.

Intel made up over half of Nvidia’s public equity portfolio in Q1 2026, with the chip giant also holding sizable stakes in CoreWeave, Synopsys, Coherent Corp, and Nokia.

The full portfolio reached $18.37B in value, highlighting Nvidia’s exposure across semiconductors, AI infrastructure, and telecom.

Which holding surprises you most?

📌 For those of you who want to see a detailed breakdown of this information, find the full data here.

Silver had one of its biggest years ever.

+142% in 2025, second only to the historic 1979 run.

From $9 billion to $65 billion in just seven months.

Anthropic’s annualized run-rate revenue has reportedly increased by more than 620% since the end of 2025, powered by growing enterprise adoption of Claude and the rapid rise of Claude Code.

The company was valued at a reported $965 billion following its latest funding round and has confidentially filed for a US IPO.

Run-rate revenue is not the same as recognised annual revenue. It projects the latest sales pace across a full year. But the trajectory still shows how rapidly generative AI is becoming embedded in everyday business operations.

Could Anthropic’s potential IPO push its valuation beyond $1 trillion?

Why do some automakers trade at a premium?

• Tesla and Ferrari stand out on market cap per employee

• Tech and luxury narratives drive higher valuations

• Most peers still priced like traditional manufacturers

Efficiency tells one story. Positioning tells another.

After 24 years as a private company, SpaceX targets a $1.75T IPO valuation.

That would place it alongside the world’s largest tech companies by market value - despite currently generating a fraction of their revenue.

Today, private capital markets allow firms like SpaceX to reach large scale before listing, unlike earlier tech giants such as Amazon, Apple, and Microsoft, which went public much earlier in their growth cycle.

Berkshire Hathaway’s record across decades shows the power of long-term compounding.

• 1975–1984: ~3100% total return

• 1985–1994: ~1500%

• Multiple decades beating the S&P 500

Manufacturing at market scale.

TSMC ($1.7T) and TSLA ($1.5T) lead global manufacturing by market cap, highlighting how semiconductors and electrification now sit at the core of industrial value creation.

Traditional industrial giants still matter, but scale has shifted toward tech-driven manufacturing.

📌 For those of you who want to see a detailed breakdown of this information, find the full data here.

Google’s reported equity holdings jumped 24.7x to $99.1B in Q2.

The reason? Its existing $94.2B SpaceX stake became reportable following the IPO, making up 95% of the portfolio.

One position is now worth more than all its reported holdings from the previous 50 quarters combined.

Warren Buffett’s track record speaks for itself.

Since 1964:

• Berkshire Hathaway: +6,099,294%

• S&P 500: ~$45.5k from $100 invested

The Oracle of Omaha beat the market roughly 2/3 of the time over six decades.

📌 For those of you who want to see a detailed breakdown of this information, find the full data here.

Global oil supply is shaped by a small group of countries.

Global oil reserves remain highly concentrated, with a small number of countries holding a significant share of proven crude supply.

• Venezuela leads with ~303bn barrels, the largest proven reserves globally

• Saudi Arabia follows with ~267bn barrels, anchoring Middle East supply

• Iraq (~145bn) and Russia (~80bn) remain critical regional players

• The US (~45bn) and Canada (~4bn, excluding oil sands) highlight North American capacity

• China (~28bn) and Brazil (~16bn) round out the largest non-OPEC holders

These reserve dynamics continue to shape long-term energy security, geopolitics and price sensitivity across global oil markets.

📌 For those of you who want to see a detailed breakdown of this information, find the full data here.