NVIDIA (NVDA)

• The stock hit an all-time high and closed above $170 for the first time in history.
• The bullish momentum was attributed to news that NVIDIA can resume selling to China.
• The company's market cap is now $4.162 trillion, which is $1 trillion more than Apple.
• Bank of America raised its price target on NVDA from $180 to $220.
  • The bank assumes a quarterly run rate of $4 to $6 billion from China.
  • Their price target is based on a 37x multiple on estimated earnings per share (EPS) of $5.87 by the end of next year.
  • The host notes that if the multiple expands to 40-42x and EPS hits $6.15-$6.20, the stock could reach $250.
• The host mentioned that Jensen Huang (NVIDIA's CEO) sees a $50 billion total addressable market (TAM) in China, which translates to about $17 billion in revenue per year, not a one-time $50 billion revenue event.

Takeaways

• Bullish Sentiment: The sentiment around NVIDIA is overwhelmingly bullish, driven by its ability to sell to China and its continued dominance in the AI space.
• Valuation Insight: Analysts are justifying higher price targets by expanding the valuation multiple they apply to the stock, believing the China news is a massive tailwind that warrants a higher premium.
• Potential Upside: Investors might see the $220 price target from Bank of America as a near-term goal, with potential for further upside to $250 if the company continues to exceed growth expectations.

Cryptocurrency & Related Stocks

• A procedural vote in the House of Representatives failed to pass, which has delayed two new crypto bills. This was seen as a major setback for what was supposed to be "crypto week."
• The reason for the failure was cited as some Republicans wanting to combine three separate bills (including one to ban a Central Bank Digital Currency or CBDC) into one package to force the Senate's hand.
• The host believes this is a logistical hurdle, not an ideological opposition to crypto, and that the bills will likely pass eventually, it will just take more time.
• This news caused a temporary dip in crypto-related assets.
  • Bitcoin (BTC), which had run up to $123,000 in anticipation of the vote, fell back to around $116,500.
  • Coinbase (COIN) dropped from $400 to $387.
  • Bitcoin miners like Marathon (MARA) and CleanSpark (CLSK) were down 2-4%.
  • Circle (USDC) was mentioned as being down 5%.

Takeaways

• Short-Term Volatility: The failure of the crypto vote created short-term bearish pressure on Bitcoin and crypto-related stocks. This highlights the sector's sensitivity to regulatory news.
• Long-Term Outlook: The host suggests the delay is procedural, not a fundamental rejection of crypto. This could present a buying opportunity for long-term believers who think the legislation will eventually pass.
• Key Risk Factor: The political process in Washington is a significant risk factor for the crypto space. The debate around a CBDC is a key point of contention holding up broader legislation.

BitMine Immersion Technologies (BMNR)

• A filing revealed that Peter Thiel has taken a 9.1% stake in the company, owning 5.1 million shares.
• This news caused the stock to surge after hours, climbing over 20% to $47.50.
• The host was initially confused by the news, as the filing date was July 8th, when BMNR was trading around $100-$115 per share.
  • If Thiel bought on that date, his $500+ million investment would be down by more than 50%.
  • The host finds this surprising, as Peter Thiel is known for selling into pumps, not buying into them.
• There is some ambiguity whether this was a personal investment or related to his VC firm, Founders Fund, which was already a backer of BMNR's private placement to buy Ethereum. The host speculates the filing might be related to the initial private placement at $4.50 per share, which would be more in line with Thiel's investment style.

Takeaways

• Major Catalyst: The involvement of a high-profile investor like Peter Thiel is a massive bullish catalyst, regardless of his entry price. The market reacted immediately and positively to the news.
• High-Risk, High-Reward: This is an extremely volatile stock. The news created a huge after-hours spike, but the uncertainty around the details of Thiel's purchase adds a layer of risk.
• Bullish on Ethereum: Thiel's investment, whether personal or through his fund, is a strong signal of his bullish conviction on Ethereum and the "Ethereum Treasury" model that BMNR represents.

Ethereum (ETH) & Related Treasuries

• Ethereum (ETH) was holding above $3,000 and saw a move up to $3,074 after hours, a level not seen since January 2025.
• The host discusses Tom Lee's thesis that stablecoins are the "ChatGPT of crypto" and will drive massive growth for Ethereum, as most stablecoin transactions run on its blockchain.
  • The stablecoin market is projected to grow from $250 billion to $2 trillion, which would exponentially increase gas fees and value for Ethereum.
• SBET (SBET), an Ethereum treasury, was up 23% on the day.
  • They announced they bought a large amount of Ethereum and are now the largest holder, surpassing the Ethereum Foundation, with 208,000 ETH on their balance sheet.
• The host wonders if Ethereum is about to have its "moment" and see the same kind of institutional and celebrity hype that Bitcoin has received.

Takeaways

• Emerging Theme: "Ethereum Treasuries" like BMNR and SBET are a new and potentially explosive investment theme, functioning as a leveraged play on the price of Ethereum.
• Stablecoin Catalyst: The growth of stablecoins is a key fundamental driver for Ethereum's value. If you believe in the widespread adoption of stablecoins, being bullish on Ethereum is a logical conclusion.
• Potential for Hype Cycle: Ethereum may be in the early stages of a new hype cycle, driven by institutional adoption (like BlackRock's ETF) and high-profile investors like Peter Thiel.

Palantir (PLTR)

• The stock hit an all-time high of $150.60 during the day, closing around $148.59.
• The host notes that the market is ignoring "brand damage" from recent protests at its New York City office and a negative New York Times story. The stock is up almost 20% since the article was published.
• Alex Karp, the CEO, was present at a high-profile AI & Energy conference with former President Trump, which is seen as a positive for the company's brand and influence.

Takeaways

• Strong Momentum: Palantir is showing incredible strength, hitting new all-time highs and shrugging off negative press.
• Political Connections: The presence of CEO Alex Karp at major political and industrial events reinforces the company's deep connections to government and powerful industries, which is a core part of its bull case.
• Investor Sentiment: The market currently does not care about protests or critical media coverage, focusing instead on the company's growth and strategic positioning.

Tesla (TSLA)

• The stock saw a significant drop in the last 30 minutes of trading, falling from $315 to $308.
• The primary reason for the drop was identified as the nomination of Jonathan Morrison to head the NHTSA (National Highway Traffic Safety Administration).
  • Morrison has a history of publicly challenging Tesla over its safety claims, particularly regarding Autopilot and the Model 3.
  • This is seen as a potential "petty" move by the Trump administration against Elon Musk, creating a regulatory hurdle and political risk for Tesla.
• Another piece of news was that the VP of Sales, Troy Jones, left the company after 15 years. The host believes this was not the main reason for the stock's drop.

Takeaways

• New Risk Factor: The nomination of a skeptical regulator to the NHTSA introduces a significant new political and regulatory risk for Tesla, specifically concerning its Autopilot and Full Self-Driving (FSD) ambitions.
• Potential Headwind for RoboTaxi: A tougher regulatory stance could delay Tesla's RoboTaxi timeline, which is a critical part of the company's long-term valuation.
• Buying Opportunity? The host speculates that if this news pushes the stock down to $280, it could be a buying opportunity for those who believe the regulatory risk is overblown.

US-Indonesia Trade Deal

• Details of a new trade framework with Indonesia were announced.
• Indonesia has committed to buying:
  • $15 billion in U.S. energy.
  • $4.5 billion in American agricultural products.
  • 50 Boeing (BA) jets.
• The U.S. will impose a 19% tariff on Indonesian goods, while U.S. goods sold to Indonesia will have a 0% tariff.
• The host views this as a "pretty good deal" and bullish for the market, as it avoids the broader, more damaging tariffs that were feared.

Takeaways

• Bullish for Specific Sectors: This deal is a direct positive for U.S. energy, agriculture, and specifically Boeing (BA).
• Positive Macro Signal: If the administration can replicate these types of deals with other countries, it would be very bullish for the overall market by removing the uncertainty of widespread, high tariffs.

Amazon (AMZN)

• Jeff Bezos sold $1.5 billion worth of Amazon stock at $225 per share. He has about 40% of his planned $5 billion sale left to complete.
• Amazon's Project Kuiper, its satellite internet initiative, will use rival SpaceX for its next batch of satellite launches.
• This move is to build out its constellation to compete with SpaceX's Starlink service.
• The host found it incredible that Amazon must use its competitor's launch service to build a competing product, highlighting the moat SpaceX has in the launch business.

Takeaways

• Insider Selling: The market appears unfazed by Bezos's large stock sale, suggesting strong underlying confidence in the company.
• Aggressive Expansion: Amazon continues to push into new, capital-intensive industries like satellite internet, demonstrating its relentless ambition.
• Indirect Play on Space: While Amazon is building a competitor to Starlink, its reliance on SpaceX for launches underscores the dominance of private space companies and the massive demand for launch services, which could be seen as a long-term positive for the entire space sector, including companies like Rocket Lab (RKLB).

Other Notable Mentions

• Robinhood (HOOD): The stock struggled to close above the key psychological level of $100, trading between $99 and $101. The host believes it eventually wants to break out and stabilize above $100.
• AMD (AMD): Had a great day, up 7% to $155.43, outperforming NVIDIA on a percentage basis.
• MP Materials (MP): The stock was up 20% after receiving investments from both the Pentagon and Apple (AAPL).
• AI & Data Center Investment Theme: A major announcement was made for $92 billion of investments in Pennsylvania by 20 tech and energy companies.
  • Blackstone's (BX) data center company QTS will invest $25 billion.
  • Google (GOOGL) is also investing heavily in the state.
  • This highlights the massive capital flowing into building the physical infrastructure required for AI.