The bubble isn't where you think it is. Despite the semi/dot com bubble headlines, we aren't seeing that many LPPL exhaustion signals in Information Technology yet. The latest data actually shows active funds are still underweight tech. Instead, Utilities are flashing the most

META free cash flow now negative in 2026

zerohedge $META need more datacemters😏😅

Goldman Delta One: "you have to at least ask whether the world has got a little ahead of itself. Maybe not today and maybe not for a few more quarters, but this level of spend with still limited visible economic output is eventually going to run into real constraints (mainly

The macro backdrop is shifting. L1 valuations need a rethink. AI agents are eating VC attention. And the Iran War has knock-on effects most people haven't mapped yet. I sat down with Jamie Coutts CMT to work through all of it. As ever, please enjoy!

Anthropic is now reportedly doing $44 billion in annual revenue. That means they added $14 billion in the last 30 days. Almost half a billion dollars in revenue PER DAY. Insane.

NEW: Berkshire Hathaway honors Warren Buffett with a “jersey retirement” at its annual meeting in Omaha.

Above average traffic continues at pizzerias very close to the Pentagon. As of 3:51pm ET

wtf

Bitmine keeps buying, perps keep shorting

GS desk flows: HFs are -5% better for sale selling Energy, Indus, and Staples. LOs are -3% better for sale selling Cons, Indus, and Fins.

JUST IN: Michael Burry reportedly dumps all his GameStop stock.

NEW: Chamath Palihapitiya to appear on Joe Rogan’s podcast.

Amid 'AI Fever', Goldman Trader Asks 'What Could Go Wrong'? zerohedge.com/markets/amid-a…

ETH slammed as naked perp shorts more than offset BitMine's constant buying

Oil and gold continue to trade in opposite directions on almost a tick-by-tick basis. Below chart is rolling 5-day correlation of USO and GLD on a 5-minute basis... Something to keep in mind if the lurch toward a SOH reopening continues.

NEW: WHO has contacted 12 countries for possible hantavirus exposure.

$SUI is live in Miami! I personally find $SUI one of the most interesting ecosystems in the Web 3 community. Today, they'll give all the insights on what they're building, the latest updates and more. On top of that, Raoul Pal will be live shortly to be discussing the

EIA SAYS US NATURAL-GAS STOCKPILES ROSE 63 BCF LAST WEEK, EXP. 72

*ROCKET LAB SHARES CLOSE UP 34% IN BIGGEST GAIN SINCE 2021 *AKAMAI SHARES CLOSE UP 27% FOR BEST DAY SINCE 2004