Consider AST SpaceMobile (ASTS) as its recent commercial agreement with Verizon for a 2026 satellite service launch significantly de-risks its business model and validates its long-term potential. View an investment in NVIDIA (NVDA) as a broad bet on the entire AI industry, as the company actively funds its own customers like OpenAI

AST SpaceMobile (ASTS)

• The stock experienced a significant price surge, up 15% in the pre-market and 280% year-to-date. The price jumped from $36 two weeks ago to over $90 following major news.
• Catalyst: ASTS signed a major commercial agreement with Verizon to launch a space-based cellular service in 2026.
  • This partnership will utilize Verizon's 850 megahertz spectrum to connect standard smartphones directly to satellites.
  • The host described this as "real meat on the bones" for investors, as it provides a clear path toward generating significant revenue and earnings.
• The company was also included as a holding in the new Roundhill Meme Stock ETF (MEME).

Takeaways

• The Verizon deal is a significant de-risking event and a major catalyst that the market has been waiting for, validating the company's business model.
• The stock has seen extreme volatility and a massive run-up. While the long-term thesis is strengthened, new investors should be aware of the potential for profit-taking after such a large move.

Rocket Lab (RKLB)

• The stock is also experiencing a strong rally, hitting a new all-time high and up approximately 35% in the last five days, with the price moving from $43 to nearly $65.
• Catalysts:
  • Announced a multi-launch deal with IQPS, expanding its role in the satellite launch market, which is estimated to be a $29 billion market by 2032.
  • This follows another recent deal with Synspective.
  • A future major catalyst is the launch of their larger Neutron rocket, expected in 2026.
• Sentiment: The host is very bullish long-term, viewing it as a "buy and hold" for the next 10 years and a smaller version of SpaceX with massive growth potential.
• Valuation: The host acknowledges that the stock appears expensive based on current financials, but the price is being driven by strong momentum, positive news, and excitement about the growing space industry.

Takeaways

• Rocket Lab is securing a steady stream of launch contracts, indicating strong business momentum even before its next-generation Neutron rocket is operational.
• For investors with existing positions and covered calls, the host suggested it may be wise to roll the calls to a higher strike price further out in time to avoid having shares sold, given the strong upward momentum.
• The host believes this is a long-term investment. While he wouldn't personally buy at these new all-time highs, he also would not sell, indicating a strong conviction in the 10-year outlook.

NVIDIA (NVDA)

• CEO Jensen Huang's interview on CNBC drove positive sentiment. He defended the company's strategy of investing in its customers and the broader AI ecosystem.
• Key Partnerships & Investments:
  • OpenAI: NVIDIA will now sell entire AI systems directly to OpenAI, helping them build out their own infrastructure.
  • xAI: NVIDIA is participating in a $20 billion funding round for Elon Musk's xAI, potentially investing up to $2 billion in equity.
• "Circular Financing": Jensen explained that investing in AI startups like OpenAI, xAI, and CoreWeave is necessary to fuel the massive build-out of AI infrastructure. He sees it as supporting the ecosystem, which in turn drives demand for NVIDIA's products.
• Financial Strength: NVIDIA has $60 billion in cash and is projected to generate $240 billion in free cash flow by the end of next year, making these ecosystem investments a logical use of capital.
• Risk: Jensen identified geopolitical risk as the primary concern that is outside of the company's control.

Takeaways

• NVIDIA's strategy is not just to sell chips, but to actively fund and build the entire AI ecosystem, ensuring future demand for its products. This makes an investment in NVIDIA a bet on the broad success of the entire AI industry.
• Jensen's commentary suggests a long runway for growth, comparing the AI infrastructure build-out to the creation of the electrical grid or the internet.
• The company's massive cash flow gives it a powerful advantage to invest, acquire, and shape the future of the AI industry.

Advanced Micro Devices (AMD)

• OpenAI Partnership: The market is analyzing AMD's deal with OpenAI, where AMD gave up a 10% stake in its company to secure the partnership.
• NVIDIA CEO's Comments: Jensen Huang commented on the deal, calling it "surprising" and "clever," subtly questioning why AMD would give up so much equity if its chips were truly competitive with NVIDIA's.
• Sentiment: The host views the deal as a strategic win for AMD's CEO Lisa Su, as it secures a key customer in the AI race. However, the terms of the deal suggest that AMD may have less negotiating power and leverage compared to NVIDIA.

Takeaways

• AMD has successfully positioned itself as a key supplier to OpenAI, which is a major positive.
• However, the cost of this partnership (a 10% equity stake) raises questions about the competitiveness of its chips versus NVIDIA's. Investors should watch to see if future deals require similar concessions.

Commodities (Gold & Silver)

• Both gold and silver reached new all-time highs, driven by concerns over the value of the US dollar.
• Expert Commentary:
  • Billionaire investor Ken Griffin stated the US dollar is "losing gold with supremacy."
  • Investor Ray Dalio suggested that 25% of a portfolio should be in gold. However, it was noted his firm's actual allocation is much lower (~1.4%), suggesting he may be "talking his book."
• Thesis: The rally is seen as a logical consequence of continued government spending and currency debasement. If "cash is trash," investors are seeking hard assets to preserve wealth.

Takeaways

• The rally in precious metals reflects a growing lack of faith in fiat currencies, particularly the US dollar.
• This trend supports the investment thesis for scarce assets, including not only gold and silver but also cryptocurrencies like Bitcoin.
• While the run has been strong, investors are watching to see if it continues or if it signals broader economic instability.

BitMine Immersion Technologies (BMNR)

• Short Report: Notorious short-seller Carisdale Capital announced a short position against BMNR.
• Carisdale's Thesis: They argue that the "digital asset treasury" model is being copied by too many competitors, which will erase the premium valuation BMNR trades at. They also made personal attacks on the CEO, Tom Lee.
• Host's Rebuttal: The host strongly disagreed with the short thesis, calling it "stupid" and "cringe." He believes that while copycat companies may fail, the market leader (BMNR) will likely thrive. The stock recovered and went green after the report was released.

Takeaways

• The short report from Carisdale created volatility but was viewed by the host and others in the community as weak and an opportunity to buy.
• The core debate is whether the "digital asset treasury" model can sustain a premium valuation. The bull case is that the best operators will capture the market and continue to grow their assets per share, while the bear case is that competition will erode all premiums.

Tesla (TSLA)

• Tesla launched two new, slightly cheaper vehicles: the Model 3 Standard ($36,990) and Model Y Standard ($39,990).
• Market Reaction: The announcement was considered "underwhelming" and "boring" by the host and many in the Tesla community, leading to a 5% drop in the stock the previous day.
• Analysis: The price reduction is not seen as significant enough to be considered truly "affordable." The host questioned the strategy, believing Tesla should be more aggressive with price cuts to drive mass adoption of its Full Self-Driving (FSD) software, which has much higher profit margins.

Takeaways

• The new models are unlikely to be a major catalyst for sales volume, as the price difference is minimal.
• There is a disconnect between the company's current strategy and the long-held bull thesis of sacrificing vehicle margin to build a large, high-margin software business around FSD. Investors should monitor Q4 delivery numbers to see the impact.

New Meme Stock ETF (MEME)

• A new actively managed ETF from Roundhill with the ticker MEME began trading.
• Holdings: The ETF provides exposure to stocks that exhibit "meme stock" characteristics.
  • Top holdings include Open Door (OPEN), Plug Power (PLUG), Applied Digital (APLD), QuantumScape (QS), Hims & Hers (HIMS), and IONQ.
  • Other notable holdings are ASTS, BMNR, IREN, and SoundHound (SOUN).
• Analysis: The host believes the ETF will attract retail investors looking for a diversified way to bet on high-volatility stocks. It could also be used by institutional investors to hedge against or short the retail trading phenomenon.

Takeaways

• The launch of this ETF could bring additional buying pressure and liquidity to the stocks it holds if the ETF itself becomes popular.
• Investors should be aware if their stocks are included in this ETF, as it could lead to higher volatility driven by fund flows rather than company fundamentals. The host specifically disagreed with the inclusion of HIMS, believing it to be a legitimate growth company, not a meme stock.