GS: Memory stocks currently trade at a 2-year forward P/E of 4x

Nscale, the Nvidia-backed AI cloud provider that has filed to list on the NYSE, raised $2.36B in convertible notes led by Third Point. $NVDA separately committed another $1B, bringing the total financing to $3.36B. Funding is expected in mid-November.

$META is a reminder that “AI downstream” stocks are working PS: and also the folly of ‘timing’ markets Get the premium service “first word” at fundstratdirect.com/tlee-ser… @fundstratdirect 🥇 Use evidenced based research to understand markets and build a portfolio PS: Free 30-day trial FYI 🆓 😍

Microsoft packages business AI in single app as it tries to compete with Anthropic cnbc.com/2026/09/25/microsof…

Microsoft $MSFT CEO Satya Nadella just posted this: “We’re building Copilot as a new OS for work that spans every model, every form factor, and every task. Today, we’re announcing our biggest update to Copilot to date, bringing four things together: · Autopilot: proactive and long-running agent built for the enterprise · Code: build apps with Copilot, hosted inside your company’s tenant · Home: Chat + Cowork together · Office: now fully embedded in Copilot (and Copilot embedded in Office, of course!)”

Mark Zuckerberg, Sam Altman, Elon Musk, Tim Cook and many other CEOs were spotted at the Trump-Xi state dinner. Photos via Getty Images, Reuters and White House correspondents.

Palo Alto CEO says slowing down AI is ‘unrealistic’, extinction threat ‘extremely small’ cnbc.com/2026/09/24/palo-alt…

WSJ: "Data-center spending is greater than that for the canals, railroads and grid combined—creating jobs and wealth but also boosting inflation" wsj.com/economy/the-ai-build…

CHINA'S XI: CHINA'S DOOR IS OPEN, WELCOMES US FIRMS TO INVEST IN CHINA

Great to be on @BloombergRadio with @ptsweeney and @scarletfu discussing the AI Revolution and the AI battle between Big Tech vs the Beltway 🔥🏆🐂🍿👇🥊 @business bloomberg.com/news/videos/20…

During Tim Cook’s tenure at the helm of Apple, its shares rose 2,000%, pushing the company’s market capitalization as high as $5 trillion in July and making Apple the second company ever to reach that milestone. bit.ly/4Ask8QC

Trump-Xi summit puts AI safety talks on the table but neither side wants to slow down cnbc.com/2026/09/23/trump-xi…

Many of you have heard me say for a while now that earnings from tech companies in particular have acted as a powerful shield for stock markets, deflecting what has been a notable series of external shocks. This chart from John Authers illustrates the point. #economy #markets #tech #investing #investors

The AI Arms Race is well underway and Zuckerberg and Meta are not watching anymore @CNBCTheExchange @KellyCNBC 🏆🎯🔥📺🍿👇🐂

Meta has changed the game in the AI Revolution with Muse @CNBC @CNBCTheExchange 🏆🔥📺🎯👇🍿

Dan Ives (@DivesTech) says tech stocks are in a “1997 moment,” not a 1999-2000 bubble, arguing the AI spending cycle is still early. Tom Lee (@fundstrat) says the “probability of a massive rally” is high as earnings outpace the broader market.