• Consider holding NVIDIA (NVDA) for continued AI demand, but watch supply-chain evidence and guidance around GTC; the host cited $250 and $275 as personal trim levels, not formal targets.
• Microsoft (MSFT) offers an enterprise-AI opportunity; track Azure growth and adoption against competition and possible customer shifts to internal AI tools.
• For a longer-term fintech thesis, consider Nu Holdings (NU) and MercadoLibre (MELI), which the guest favored for 2027; no price targets were provided.
• Avoid chasing SpaceX after its sharp rally: despite reported analyst targets of $300–$350, the guest said he would not buy at current levels.
• Monitor the 10-year Treasury yield as a key equity risk: it reached 5.31%, and a move toward 6% could pressure stocks.

NVIDIA (NVDA)

• NVIDIA reached an intraday high near $240 and closed at $238.90, near a record, with a market capitalization of about $5.76 trillion.
• The host cited Dan Ives’s view that industry checks suggest chip demand may be 25–30% higher than current estimates over the coming year, driven by enterprise AI uses as well as hyperscaler spending.
• The host argued that NVIDIA’s growth, margins, profitability, and share buybacks still support the investment case. He said his personal levels for considering trims would be $250 and, for more substantial profit-taking, $275; he also discussed $300 as a possible later target. These were his opinions, not company guidance.
• The discussion flagged GTC as a possible catalyst in either direction: expectations around announcements could be high, and the stock previously fell after investors were disappointed by a financial update. A broader market correction was also mentioned as a risk.

Takeaways

• The bullish case presented depends on AI demand and NVIDIA’s ability to meet it; watch company guidance and supply-chain evidence rather than relying solely on the stock’s momentum.
• The host’s trim levels are personal reference points, not recommendations. Consider how position size and valuation fit your own risk tolerance.

S&P 500 ETF (SPY) and U.S. equities

• The S&P 500 rose about 0.7% on the day and came close to its record, despite a late-session pullback.
• The host noted that the S&P and the 10-year Treasury yield were rising together, contrary to their historically expected inverse relationship. He described the market as resilient but said the relationship’s durability was uncertain.
• A further decline in oil and an end to the war were discussed as possible conditions for more upside; a rise in yields toward 6% was raised as a potential threat to the market.

Takeaways

• The transcript’s broad-market signal is strong momentum, but it also highlights uncertainty about how markets will react if yields continue rising. Monitor yields and macro developments alongside earnings.

U.S. 10-Year Treasury Yield

• The 10-year yield reached a new 52-week high of 5.31%.
• The host said the usual negative relationship between yields and stocks was not holding, and wondered whether stocks could rise further if yields later fell toward 4.7–4.8%.
• He also warned that a move toward 6% could eventually weigh heavily on equities, although he said the market’s behavior was difficult to predict.

Takeaways

• Treat higher yields as a meaningful macro risk to equity valuations, even though they had not held back stocks in this session.

SpaceX (Private)

• SpaceX rose about 7%, reaching roughly $170–171 and recovering substantially from lows near $100, according to the host.
• The move was attributed in part to its reported TSMC partnership related to the Terafab project and the company’s AI infrastructure ambitions. A proposed natural-gas pipeline in Florida to supply Starship launches was also mentioned.
• The host cited Wall Street price targets of $300–$350 from analysts Adam Jonas and others. These are reported analyst targets, not guaranteed outcomes.
• Guest Sam Solid said he would not buy at the current level, despite cautioning against betting against Elon Musk.

Takeaways

• The discussion presents SpaceX as a high-expectation, AI-and-space opportunity, but the guest’s reluctance to buy after a rapid rise underscores the risk of chasing momentum. The transcript provides no detailed valuation analysis.

Taiwan Semiconductor Manufacturing Company (TSMC)

• TSMC reached a record, with a reported market capitalization of about $2.52 trillion.
• The stock’s strength was discussed alongside the reported SpaceX/Terafab connection and broader optimism about semiconductor demand.

Takeaways

• The transcript’s positive view is tied to ongoing AI-related chip and manufacturing demand. Consider the company’s valuation and exposure to the broader semiconductor cycle when evaluating the momentum.

AMD (AMD)

• AMD was described as reaching an all-time high in the recent period, but it was roughly flat on the day discussed.
• The host said the wider semiconductor rally did not lift every chip stock equally.

Takeaways

• The transcript offers a positive sector backdrop but no AMD-specific catalyst or forecast. Look for company-specific evidence before inferring that NVIDIA’s strength will automatically carry over.

Micron (MU), SanDisk (SNDK), SK Hynix, Intel (INTC), Qualcomm (QCOM), Super Micro Computer (SMCI), and Dell Technologies (DELL)

• These semiconductor and hardware names generally failed to participate in NVIDIA’s advance that day. Micron, SanDisk, and Intel were specifically cited among the laggards; Qualcomm and SMCI were also described as weak or little changed.
• The host suggested that some names may have been consolidating after recent gains, including a recent strong session for SanDisk.

Takeaways

• The transcript highlights uneven performance within semiconductors. Avoid treating the sector as a single trade; the discussion did not provide individual forecasts or new catalysts for these lagging names.

Broadcom (AVGO)

• Broadcom rose about 2% on the day.
• Guest Sam Solid was bullish on Broadcom as a way to participate in AI infrastructure spending, but he did not give a price target.

Takeaways

• The positive case is tied to continued AI-related infrastructure investment. The transcript does not assess Broadcom’s valuation in detail.

Applied Optoelectronics (AAOI)

• The host said AAOI had completed its at-the-market share offering, which could mean less near-term dilution from that offering.
• He described it as a possible photonics “picks-and-shovels” trade tied to rising optics demand, while explicitly saying he viewed it as a trade rather than an investment.
• He also cautioned that the company’s management had historically been viewed as “shady” and that the offering had been a source of frustration.

Takeaways

• The potential opportunity is exposure to optical-networking demand without the cited offering continuing. The host’s stated concerns about management and his trade-focused view are important caveats.

Shopify (SHOP)

• Shopify rose about 6% and closed around $160. The host linked some of the momentum to a partnership with TikTok.
• Guest Sam Solid also discussed Shopify as a possible beneficiary of more targeted online commerce and advertising as AI changes how people discover products.

Takeaways

• The discussion suggests potential upside from social-commerce partnerships and AI-assisted shopping, but gives no sales estimates or price target.

Robinhood Markets (HOOD)

• Robinhood rose about 1% on the day.
• The host described the company as benefiting from greater interest in investing among younger generations and from the growth of financial products and market participation.

Takeaways

• The longer-term opportunity described is continued retail engagement with financial markets. The transcript provides no company-specific valuation or earnings forecast.

Nu Holdings (NU) and MercadoLibre (MELI)

• Nu Holdings rose about 13% and MercadoLibre about 14% in the session.
• Guest Sam Solid named both among his preferred fintech holdings for 2027, along with SoFi.

Takeaways

• The discussion is bullish on Latin American fintech and commerce exposure, but gives no price targets or detailed company-specific risks.

SoFi Technologies (SOFI)

• Guest Sam Solid named SoFi as one of his fintech picks for 2027.
• He said the company still needs to demonstrate that it can be more than a bank, while expressing the view that the stock could eventually return to $32. This was his personal opinion, not company guidance.

Takeaways

• The opportunity depends on SoFi proving that it can expand beyond its banking business. Treat the $32 figure as a speaker’s view, not a forecast.

Uber Technologies (UBER)

• Uber rose about 2% on the day. Guest Sam Solid said he remained positive on the company’s fundamentals and continued to hold it, while noting that it was not currently in market favor compared with semiconductors.
• He said he might add to his position, but did not give a target.

Takeaways

• The transcript’s thesis is that Uber may be temporarily out of favor rather than fundamentally broken. The discussion does not identify a near-term catalyst, so patience and valuation discipline matter.

Zeta Global (ZETA)

• Zeta traded near $33–35 and rose during the session. The company announced an agreement to acquire Senso, a Y Combinator-backed AI engineering company, to add engineering talent and improve connectivity to frontier AI models.
• The host thought the announcement appeared more like an acqui-hire than a major technology acquisition, based on the language in the release, and said he needed to investigate further.
• Guest Sam Solid’s bullish thesis centers on Zeta’s proprietary data and its potential role in generative engine optimization—helping brands be discovered in AI-generated responses. He said Zeta is partnered with OpenAI, but that the specific terms and uses of the partnership were not confirmed in the discussion.
• The guest also cited growth and profitability as reasons for holding the stock. The host noted that investors still have to assess stock-based compensation and the contribution of acquisitions to growth.

Takeaways

• The potential opportunity is advertising and brand discovery as people shift from traditional search toward AI tools. Verify the acquisition terms and Zeta’s partnership details; the transcript itself says those remain unclear.

Microsoft (MSFT)

• Microsoft was discussed as a beneficiary of enterprise AI adoption and Azure growth. Dan Ives said the street could be underestimating incremental revenue by 10–15%, although the transcript does not specify the measurement period.
• The program also cited a reported internal effort by Microsoft to reduce employee reliance on Anthropic’s Claude and cut related cloud spending. The host said that could reduce costs, but also noted that large customers shifting away from third-party tools could signal competitive or commoditization pressure.
• Microsoft received a reported analyst price-target upgrade to $665. This was a cited analyst target, not a forecast from the company.

Takeaways

• The bull case is enterprise AI monetization through Azure; the counterpoint is that customers may reduce use of outside AI providers or substitute internal tools. Track Azure growth and enterprise adoption.

Alphabet / Google (GOOGL)

• Google was described as having a strong day after being stuck in a recent trading range.
• Guest Sam Solid selected Google as one of two large technology companies he would hold into 2027, citing projected capital expenditure of about $300 billion next year and the potential for Google Cloud to gain ground. These were his expectations, not company guidance in the transcript.
• He also cited Google’s investment in SpaceX as a possible source of exposure to SpaceX’s future value, while noting that a sale of the stake could be negative for SpaceX.

Takeaways

• The opportunity described is cloud growth and AI infrastructure spending. The main issue raised is whether the large planned investment can produce sufficient returns; monitor spending and cloud results.

Amazon (AMZN)

• The host expected Amazon to have a breakout, possibly in 2027 rather than by year-end.
• Guest Sam Solid selected Amazon as one of his large-cap technology holdings for 2027, and described it as a way to gain exposure to companies serving the AI ecosystem.

Takeaways

• The transcript’s positive case relies on future growth and AI-related business exposure, but offers no price target or specific timing beyond the host’s 2027 view.

Meta Platforms (META)

• Meta rose about 2% on the day. The host discussed a report that Meta had cut its use of Anthropic’s Claude Code by half, while still spending more than $105 million on it over a recent 28-day period.
• The host said Meta’s move to internal tools could be positive if it reduces costs, but could also reflect a broader risk that third-party AI tools become commodities.
• The discussion cited Meta’s Muse product and advertising business as possible catalysts. Guest Sam Solid said the stock could rise substantially if Meta successfully serves ads through Muse, but this was a hypothetical, not a forecast.

Takeaways

• The case depends on Meta turning AI tools and its user base into incremental advertising revenue while managing costs. The transcript raises uncertainty about whether Muse has broad enough consumer use cases.

Apple (AAPL)

• Apple was included in a discussion of mega-cap companies whose earnings revisions and product cycle could support the S&P 500.
• Guest Sam Solid said Apple’s relatively low capital expenditure compared with infrastructure-heavy companies could help it avoid some of the burden of rising AI spending.

Takeaways

• The transcript presents Apple as a large, cash-generative technology company, but does not offer a specific catalyst, target, or recommendation.

Oracle (ORCL)

• Oracle was slightly positive on the day and was discussed as an important AI infrastructure provider with a large backlog.
• Guest Sam Solid said the stock could rebound if concerns about OpenAI’s ability to meet its commitments ease. He also cited Oracle’s businesses beyond data centers, including PeopleSoft and human-capital-management software.
• He described Oracle as “one headline away” from $200, a personal opinion. He also pointed to debt and the company’s exposure to OpenAI as risks.

Takeaways

• The opportunity depends partly on Oracle converting its backlog into revenue and on OpenAI-related commitments proving durable. The transcript specifically flags debt and customer concentration as concerns.

Bitcoin (BTC) and Ethereum (ETH)

• Bitcoin was around $85,651 and described as nearly flat during the session; Ethereum was also described as flat.
• The host argued that clearer U.S. rules for digital assets could make the market safer for consumers and encourage adoption of stablecoins and tokenized equities.

Takeaways

• The discussion’s constructive crypto view is conditional on clearer regulation and broader institutional use. It gives no price targets or specific buy recommendations for Bitcoin or Ethereum.

Crypto Regulation and Digital-Asset Markets

• The host welcomed comments from the CFTC chair supporting federal standards for crypto markets, and argued that the CFTC and SEC may have to act if Congress does not pass legislation.
• Potential opportunities discussed included stablecoins, tokenized equities, and regulated crypto-asset markets. The host said this kind of framework could be bullish for Bitcoin, Ethereum, and other digital assets.

Takeaways

• Regulatory clarity could support wider adoption, but it is not guaranteed; the transcript notes that Congress has not passed the legislation the host wanted.

OpenAI and Anthropic (Private Companies)

• Both companies were discussed in the context of enterprise AI, possible future IPOs, and competition from internal tools and open-weight models.
• The host noted that Meta and Microsoft were reportedly trying to reduce reliance on Anthropic’s Claude Code, which he viewed as both a potential cost-saving move and a sign that AI software may become more commoditized.
• The guest argued that open-source models need not displace frontier-model providers if both categories grow. He also said OpenAI may eventually monetize consumer use through advertising, but this was a thesis rather than confirmed financial guidance.

Takeaways

• The investment theme is the AI model and application ecosystem, but the transcript highlights uncertainty about monetization, competition, and the value of enterprise customers. These were discussed as private companies, not publicly traded stocks.

Reflection AI (Private Company)

• The host said NVIDIA backs Reflection, which had released an open-weight AI model intended to compete with Chinese models.
• Dan Ives described open-weight models as potentially expanding AI use by lowering costs, which could increase demand across consumer and enterprise markets. The host said that may benefit NVIDIA and the broader semiconductor ecosystem, while increasing competition for frontier-model companies.

Takeaways

• The transcript’s broader thesis is that cheaper AI models could expand total compute demand rather than simply shift demand away from leading providers. That outcome is an opinion, not a certainty.

Rocket Lab (RKLB) and AST SpaceMobile (ASTS)

• Rocket Lab and AST SpaceMobile did not follow SpaceX higher that day; Rocket Lab was down about 1.4%.
• The host said SpaceX’s move appeared more connected to its AI infrastructure plans than to a broad rally in space stocks.

Takeaways

• SpaceX’s gains did not automatically translate to other space companies in this session. The transcript provides no separate fundamental thesis or target for Rocket Lab or AST SpaceMobile.

Nebius (NBIS), IREN (IREN), and CoreWeave (CRWV)

• The host noted that Nebius and other “neo-cloud” names fell even as NVIDIA rose, calling the divergence difficult to explain.
• Guest Sam Solid said these stocks may be trading more on charts and individual deals than on a single sector-wide catalyst. He preferred IREN among Nebius, IREN, and CoreWeave for a hold from current levels, citing IREN’s AI-cloud ambitions and Australian presence. This was his personal view.
• He also said a major part of the sector’s near-term direction would depend on upcoming earnings and capital-expenditure disclosures.

Takeaways

• The transcript presents these as volatile AI-infrastructure investments whose outcomes depend on contract execution, financing, and future spending. It does not provide price targets.

Akamai Technologies (AKAM)

• Guest Sam Solid said he remained positive on Akamai’s role in AI networking and inference, but had been stopped out of his position and was staying away while the chart remained weak.
• He cited the stock’s position below key moving averages and selling pressure as reasons for caution, despite seeing a fundamental opportunity in AI-related networking.

Takeaways

• The discussion separates a potentially attractive business theme from weak price action. The guest’s view was to wait for technical improvement rather than buy solely on the thesis.

GlobalFoundries (GFS)

• Guest Sam Solid described GlobalFoundries as a possible way to gain exposure to power semiconductors, optical transceivers, and manufacturing.
• He highlighted a reported multi-year partnership with Marvell and an upcoming Marvell investor day as a possible catalyst, while saying the partnership’s financial terms were unclear.
• He cautioned that GlobalFoundries is not a high-margin, high-growth “hot” semiconductor name.

Takeaways

• The opportunity is a possible benefit from expanding AI-related chip and optical demand, but the catalyst depends on details that had not yet been disclosed. The transcript flags lower margins and uncertainty around the partnership’s value.

Marvell Technology (MRVL)

• Guest Sam Solid said Marvell could benefit from custom AI chips and networking, including its role in Google’s TPU ecosystem.
• He considered the stock expensive after its run, noting that its business story had not changed as much as the share price. He nevertheless expected investor-day guidance and partnerships could affect analyst estimates.

Takeaways

• The transcript presents Marvell as an AI-infrastructure beneficiary but stresses valuation risk after a large advance. No price target was given.

Netflix (NFLX)

• Netflix was described as having risen sharply before falling back, with the host noting that it had been much stronger earlier in the year.
• Guest Sam Solid questioned how Netflix would continue growing, saying it may need another major hit and that creating AI-generated shows could require too much capital expenditure. He called the stock’s outlook uncertain and said the market appeared to be pricing in substantial concern.
• Bill Ackman’s view, as recounted on the show, was more positive: he had previously sold after management changed its position on advertising, but later bought back after Netflix demonstrated stronger execution, advertising growth, and cash generation.

Takeaways

• The discussion is mixed: Ackman’s case emphasizes execution and cash flow, while the guest’s concern is a lack of clear future growth drivers. Assess the company’s content and advertising results rather than assuming past success will continue.

AppLovin (APP) and Reddit (RDDT)

• AppLovin rose about 5% and Reddit was slightly positive on the day.
• The guest discussed both as possible beneficiaries of digital advertising and AI-assisted discovery. He also described Reddit as a source of human-generated data that may retain value as AI-generated information grows.

Takeaways

• The investment theme is advertising and data monetization in AI-driven consumer platforms. The transcript provides no company-specific price targets or revenue forecasts.

Palantir Technologies (PLTR)

• Palantir reached about $192 before pulling back to around $189, while remaining above the $180s.
• It was mentioned as a strong recent performer, but the discussion provided no new company-specific thesis.

Takeaways

• The transcript offers a momentum update only. It does not establish a new valuation case or recommendation.

Oklo (OKLO) and Bloom Energy (BE)

• Oklo was reported higher on the day, while Bloom Energy was among the names that did not participate in the broad market rally.
• No new company-specific catalysts or forecasts were given.

Takeaways

• These mentions provide price-performance context rather than an investment thesis; no actionable company-specific conclusion was offered.

Tempus AI (TEM) and Intuitive Surgical (ISRG)

• Guest Sam Solid said he held Tempus AI and was bullish on medical AI, citing the potential value of combining software with health data. He framed this as an area where AI could be monetized without the same level of infrastructure spending as data centers.
• He also described Intuitive Surgical as a beneficiary of AI-enabled surgical robotics, while acknowledging that the stock was expensive.
• These views were the guest’s opinions; the transcript does not provide revenue forecasts or price targets.

Takeaways

• Medical AI was presented as a potential application area beyond data centers, but the discussion does not establish when or how quickly these companies may turn that opportunity into earnings.

Trade Desk (TTD)

• Guest Sam Solid called Trade Desk a contrarian possibility, arguing that it had helped automate digital advertising and that the market might be assigning too little value to its business.
• He also emphasized that the chart was very weak and said he did not own it.

Takeaways

• The potential case rests on Trade Desk retaining a role in advertising technology, but the guest’s comments make clear that he saw substantial uncertainty and no immediate reason to buy.

DLocal (DLO)

• Guest Sam Solid called DLocal a beaten-down fintech name and said he had previously owned it. He cited its international presence, a possible shift in Brazil’s political environment, and buybacks as reasons for interest.
• DLocal rose only slightly after other Latin American fintech stocks had strong gains.

Takeaways

• The transcript presents DLocal as a possible recovery opportunity tied to Latin American fintech, but does not offer a price target or detailed assessment of the company’s risks.

Lululemon (LULU), Deckers (DECK), and Nike (NKE)

• The show discussed Michael Burry selling Lululemon and replacing it with Deckers, reportedly as part of tax-loss harvesting. The host questioned whether the explanation was also a convenient way to exit a losing position.
• Guest Sam Solid named Nike as a possible contrarian idea, but the host pushed back on its weak growth and valuation. No participant offered a firm recommendation.

Takeaways

• These were discussed as out-of-favor consumer brands, not as clear buy opportunities. The transcript specifically points to concerns about weak growth and the difficulty of a successful turnaround at Nike.