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Elon Musk says “~90% of $SPCX revenue this year will be commercial” with government revenue falling below 5% in Q4.

Starlink has changed the mix so much that SpaceX really looks more like a connectivity platform rather than a government launch business.

$SPCX just launched USSF-385 on B1100 which is the 100th Falcon 9 Block 5 booster SpaceX has built.

The mission is carrying a classified Space Force payload but the thick fog at Vandenberg made the launch clip look incredible.

$MELI Q3 EARNINGS

• Revenue $10.75B vs Est. $10.71B
• Net Income $448M vs Est. $478M
• TPV $109B (+53% YoY)
• GMV $23B (+38% YOY)

Pretty interesting seeing $TSLA and $SPCX sell off after Democrats swept Congress while odds of a merger have barely budged and are still at 75% likelihood.

$INTC CEO Lip-Bu Tan bought another $10M of stock at $65 just days after Intel’s worst trading day since 1974 which adds to $10M he already purchased at $95 in August.

He’s averaging down into the selloff while Intel’s data center and foundry businesses are growing 78% and 58% even as rising memory costs weigh on PC demand.

Cathie Wood bought ~$48M of $SPCX today.

$QCOM says its custom AI accelerators started shipping in October with $AMZN AWS connectivity ramps this month and Dragonfly remains on track for $META in 2028.

This is Qualcomm moving beyond smartphone chips into hyperscaler revenue with a target of $15B+ in data center sales by FY29.

$ARM Q2 EARNINGS

• Revenue $1.44B vs Est. $1.38B
• EPS $0.52 vs Est. $0.48
• Net Income $566M vs Est. $515M

Q3 Guidance
• Revenue $1.54B vs Est. $1.54B
• EPS $0.56 vs Est. $0.55

$QCOM Q4 EARNINGS

• Revenue $10.44B vs Est. $10.15B
• EPS $2.17 vs Est. $2.16
• Automotive Revenue $1.99B (+89% YoY)

Q1 Guidance
• Revenue $10.8B vs Est. $10.6B
• EPS $2.25 vs Est. $2.29

$AMD CEO Lisa Su highlighted that $META Muse reached 10M activations in just six weeks showing how quickly personal AI agents are gaining traction.

Huge for AMD because each agent runs on an EPYC-powered virtual machine with 2 vCPUs and 8GB of RAM turning consumer adoption into a new source of server CPU demand.

$AMD CEO Lisa Su says EPYC Venice demand is “the strongest we have seen for any new EPYC generation.”

Even OpenAI picked EPYC to host its first custom AI accelerator showing why more ASIC racks and AI agents can drive demand for AMD CPUs.

$AMD says $META , $MSFT , ORCL, ANT and OpenAI are now running workloads on Helios as data center revenue nearly doubled to a record $8.5B.

Every AI agent needs a GPU to think and a CPU to act and AMD is only company ramping both a leading standalone x86 server CPU and rack-scale AI GPUs with Venice and Helios scaling together into Q4.

It took $AMD all of 2023 to generate $6.5B in data center revenue and it just did $8.5B in a single quarter 🤯

$AMD CRUSHED THEIR Q3 EARNINGS

• Revenue $13.4B vs. Est. $13.1B
• EPS $2.09 vs. Est. $1.94
• Data Center Revenue $8.55B vs Est. $8.13B
• Gross Margin 56% vs. Est. 45%

Q4 Guidance
• Revenue $17B vs Est. $16B
• Gross Margin 55% vs. Est. 55%

🚨 $NBIS adds three new compute clusters

"TF" presuambly stands for Token Factory, with one cluster tagged CA1, likely California.

We know $NBIS doesn't have a facility in California.

So high probability these are asset-light deployments that are now online for managed inference.

In particular, could be for $PLTR enterprise customers.

Cathie Wood bought ~$11M of $PLTR today

$AMD CEO Lisa Su says “we now expect revenue to grow more than 80% in 2027” more than double the company’s long-term growth target from a year ago.

What’s also crazy is that data center is expected to account for over 80% of AMD’s total revenue next year.

$IREN and $CIFR.US : Good points by Jim regarding Texas going blue. I agree that the Ai buildout will ultimately be allowed to continue in Texas!

But I would add the caveat that there may be interim pressure and risk for Texas-exposed Ai companies until Governor Hinojosa issues a concrete regulatory directive that the market can price in

Don't overthink what stocks to buy

Remember when Pelosi's $TEM position crashed 60%?

- Pelosi bought $TEM calls in Jan 2025 when it was $31
- It ran to $103
- Then crashed to $41
- Today it's up 10% after beating earnings

She exercised her options and still holds 5,000 shares per disclosures

Chance to buy in cheaper than a politician

Congressman John McGuire disclosed buying up to $45K of Micron $MU

He sits on Armed Services, which has direct oversight to chip supply chains

• His average buy: $1,087
• $MU today: $881