@richlyons Huge congrats from a Haas Alum of 2009. Look forward to your leadership in the next decade at our great university, @UCBerkeley, and our great state, California! Go Bears!

Revenue growth is insane. Never seen anything like it.

I’m an engineer by profession. But I chose trading. 📈 Now I’m curious about you: What’s your profession or degree? And what brought you into trading? Drop your background below 👇 Let’s see who traders really are.

Update on our ChatGPT vs. Netscape analogue. At 929 trading days since the release of ChatGPT, the Nasdaq is up 144%. At 929 trading days after the release of Netscape, the Nasdaq was up 146.6%. (Past performance is no guarantee of future results!)

My luck on getting $SPCX allocated on IPO day is 1/500. But my proud of being an investor of SpaceX is indeed 500x!

Memory went from 9.3% of BOM to 25.6% of BOM

NEWS: Nvidia CEO Jensen Huang announced today that the company is working on a new chip/computer for orbital data-centers called Nvidia Vera Rubin Space-1. "It's going to start data-centers out in space. Of course, in space there's no conduction, no convection, there's just radiation, so we have to figure out how to cool these systems out in space, but we got lots of great engineers working on it."

It was an honor to host @SecWar at Rocket Lab’s Engine Development Complex in Long Beach, CA 🚀🛰️ Space superiority doesn’t start on orbit – it starts on the factory floor. We’re immensely proud to have had the opportunity to show how we’re delivering reliable rockets and spacecraft at the speed and scale that national security demands.

What if planetary exploration didn’t take decades or cost billions? In a new @SpaceNews_Inc op-ed, our Founder & CEO @Peter_J_Beck lays out a faster, industry-led path - one that delivers more missions, more data and faster progress. The commercial path is ready. The question is: will we use it? 🔗 Read the full article: bit.ly/4qHKicw

$rklb the most important 90 days in space history. (and why your portfolio isn't ready). it’s jan 2, 2026. jared isaacman is officially running nasa. the "cost-plus" era is dead. the "fixed-price" era is here. if you hold $rklb, $pl, or are tracking the starship ecosystem, you are looking at the most volatile quarter of the decade. here is my alpha calendar for q1 2026. save this. january: the signal. this month is about rhetoric. we are looking for the official shift from "nasa builds" to "nasa buys." jan 4-8: aas winter meeting (phoenix) ignore the science papers. listen to the policy panels. we are hunting for one specific phrase: "small-class planetary missions." if nasa officials admit jpl is too expensive for frequent missions, this is the first green light for rocket lab’s photon platform. jan 27-30: commercial space week (orlando)red alert. this is where the new administration likely leaks the details of "project athena." expect isaacman to outline the "science-as-a-service" model. the trade: if they announce a shift to buying data instead of hardware, earth observation stocks ($pl, $spir) move. if they announce commercial mars architecture, $rklb rerates instantly. february: the validation. talk is cheap. budgets are real. this is where we see if the money follows the tweets. feb 9-11: defense & intel space conference the sda loves commercial. does the space force explicitly call for a "neutron-class" launcher to break the spacex monopoly? watch for headlines about "nssl phase 3 lane 1" expansion. mid-feb: the fy2027 president’s budget request the single most critical document for your heavy $rklb position. do not look at the top-line number. look at the "mars sample return" (msr) line item. bear case: status quo funding for legacy contractors. bull case: msr marked "under review." god mode: msr marked for "commercial competitive bid." (this is the 10x catalyst). feb 27 (est): $rklb q4 earnings peter beck needs to be aggressive here. we don't just want launch numbers. we want confirmation that neutron is bidding on these new nasa restructuring contracts. march: the hardware. isaacman is an efficiency maximalist. he won't fund powerpoints. march window: neutron at wallops we need visual proof. a wet dress rehearsal (wdr) or a static fire on the pad. if neutron is vertical in q1, the "paper rocket" discount vanishes. capitol hill hearings isaacman will go before the senate to defend cutting legacy programs (sls) to fund commercial depots. expect boeing lobbyists to hit back hard. volatility will peak here. the quote to watch for: "we can do 10 missions for the price of 1 legacy mission." the thesis: the market thinks nasa budget cuts are bad for space stocks. they are wrong. cuts to legacy programs = freed capital for efficient commercial primes. the pie isn't shrinking. it's being taken from old aerospace and given to the new guard. 2026 is the year of the changing of the guard. position accordingly. $rklb $pl $lmt $ba #spaceeconomy #nasa #neutron

MISSION SUCCESS! Payload deployment confirmed for Electron's 77th launch, releasing @JAXA_en's RAISE-4 satellite to a 540km LEO 🛰️🚀

Just saying

Suddenly, $AMD become an acquisition target. $300 in the making.

Interview with an industry expert about insights into GPUs, ASICs, and memory trends ( $NVDA, $AMD, $MU, $GOOGL ): - The expert emphasizes that GPU demand, especially for $NVDA, remains extremely strong and unchanged in terms of availability or lead times. He stresses that $AMD is also ramping quickly, with the MI300 and 400 series GPUs growing at around 15–20% year-over-year; however, adoption is concentrated almost entirely among hyperscalers because $AMD's software and ecosystem are still immature. - According to the expert, $NVDA is maintaining pricing very firm, with little to no discounting, due to extremely strong demand, while deep learning ASIC start-ups are offering discounts in the 10–20% range, primarily targeting non-hyperscaler and international customers seeking to build domestic AI infrastructure. He stresses that this discounting is less about performance and more about positioning on price, as these smaller players try to carve out market share outside the core hyperscaler segment. - In relation to ASICs, expert explained that hyperscalers build their own ASICs, such as $GOOGL's TPU, almost exclusively for internal use, while start-ups target the merchant market. However, because hyperscalers rely on in-house chips or established GPU providers like $NVDA and $AMD, the addressable market for these start-ups is shrinking. He stresses that this makes opportunities increasingly narrow, especially as $NVDA and $AMD combine hardware strength with massive investments in software and ecosystem support. - The expert emphasizes that HBM remains one of the most significant bottlenecks in the AI semiconductor supply chain, with only three major vendors; SK hynix, Samsung, and Micron producing HBM3 and HBM3E. He notes that supply from all three sources is fully allocated through 2025, and lead times for new demand are now approaching 12 months. These suppliers prioritize $NVDA first, then the hyperscalers, which leaves start-up ASIC vendors struggling to secure capacity. - He explains that HBM3 pricing has already increased by 20–30% year-over-year, driven by both extreme demand and the fact that each new GPU or ASIC generation requires significantly more HBM content. Looking forward, he expects continued upward pressure on pricing as vendors invest heavily in advancing to HBM4, which will double I/O bandwidth and density. -The expert stresses that while the overall AI semiconductor market is expanding rapidly, $AMD has been the clear share gainer, now reaching an estimated 5%–10% share and around $7–8 billion in GPU revenue. He emphasizes that this hasn’t reduced $NVDA's revenue but has modestly slowed its growth as $AMD ramps new products.

The leading sectors right now: - Crypto: $CRCL $BMNR $MSTR $COIN $BTBT - AI: $NVDA $AVGO $TSM $MU $AMD $ARM - Data Centers: $ORCL $NBIS $IREN $SMCI - Networking: $CRDO $ANET $CLS $RMBS - Space: $RKLB $ASTS $RDW $BSKY $PL - Quantum: $RGTI $IONQ $QBTS $QUBT - Rare Earths: $TMC $IDR $MP $UAMY - FinTech: $HOOD $SOFI $SEZL $NU - Nuclear: $LEU $SMR $OKLO $NNE - Drones: $RCAT $UMAC $ONDS - Air Taxis: $JOBY $ACHR $BLDE - Software: $PLTR $BBAI $APP - Batteries: QS ENVX EOSE - AVs: AEVA OUST PONY

Ethereum. Fun fact: I met @VitalikButerin in 2013 at the San Jose Bitcoin conference when he was writing for Bitcoin Magazine (his writing was great). A few months later I invited him to come by Coinbase's first office in San Francisco for a visit and he showed us some cool stuff on his laptop. Fred, Olaf, and I decided we should try to hire him, and reached out to see if he would be interested in joining us. But due to a series of circumstances, including him not being able to get a work visa in the U.S., it didn't work out and he had to go back to Canada. While he was stuck in Canada he created Ethereum. So, in a way, the sub-optimal immigration system in the U.S. contributed to the creation of Ethereum. Happy 10th birthday Ethereum!

Journey to the top of the mountain is the hardest. Determination, cautiousness, willingness to take a rest or even a setback, staying calm are all what is needed for an eventual success. Same is true for investing.

It is very nice all the Elon’s companies congratulating the successful launch of Robotaxi — from SpaceX, Neuralink, xAI/X and Boring. It means a lot. You rarely see that from other companies. In my past experience, Android rarely cheered on YouTube launch or Ads seldomly congratulated Clouds. Everyone was worrying if their launch would be counted as the next promotion packages. Thus, while all the orgs are within the same company, they were competing for the same spotlights. In contrast, you genuinely see Tesla employees cheering on SpaceX rockets and SpaceX employees congratulated our success. There were Tesla employees would drive all the way to Starbase for the Starship. Fundamentally deep in our hearts, we knew how hard it was to solve the problems of centuries, and the sweat and tears along with it. That is something you don’t see in other corporate politics — the rare joy of sharing the success.

Elon says Robotaxi is a mobile lounge where you can relax with a drink, and watch a movie, even sleep. It is designed to maximize happiness.

🚨 Dan Ives of Wedbush has released a new note after riding in Tesla Robotaxis today in Austin: "This afternoon we attended Tesla's Robotaxi launch in Austin, TX and got the opportunity to take multiple rides in a Robotaxi. There was a Tesla Operator sitting in the front passenger seat of the Robotaxi, but they were not permitted to comment on anything nor did they influence the car in any way. Going into it, we expected to be impressed but walking away from it, all there is to say is that this is the future. We took two approximately 15 minute rides around Austin and the key takeaways are that it was a comfortable, safe, and personalized experience. The ride itself was completely smooth, and it was indistinguishable that the car was driverless as there was never a moment in the vehicle where we felt as if it did something irrational. The interior features two touchscreen panels: one in the front and one in the back row above the AC vent. The back row panel is able to integrate with the user's Tesla account and sync with their Robotaxi app and automatically loads the user's content onto a suite of apps including Apple Music, Netflix, Spotify, Hulu, Disney +, and more. We took a route through a park with dirt roads and traffic cones, yet the car was able to navigate perfectly and picked us up right at our exact location. To really put it into perspective, there was a moment where we drove up a narrow road going up a hill with cars parked on both sides with oncoming traffic and people opening their car doors into the road and the Robotaxi masterfully maneuvered with patience and safety among this chaos. We maintain our OUTPERFORM and $500 PT. The $1 trillion autonomous journey begins. Today's successful Robotaxi launch is really just the beginning of the Tesla AI story. The Robotaxi's we experienced today were foundational, and there is a path for the future where these Robotaxis may also have Grok integration, interior customization, and a much more user-centric focus as there's no longer a need to focus on the driver experience. Eventually, when there are enough Robotaxis out there, they may be able to communicate with each other and coordinate to offer an even more efficient travel experience. Overall, these Robotaxis exceeded our expectations and offered a seamless and personalized travel experience that has lit the spark for autonomous driving."