Maintain a bullish outlook on NVIDIA (NVDA) and the broader AI sector through June, as Wall Street is incentivized to keep markets stable ahead of the massive SpaceX IPO. Retail investors can gain early exposure to SpaceX, OpenAI, and Anthropic via pre-market platforms like Hyperliquid or tokenized shares on Pre-Stocks. For decentralized AI infrastructure, BitTensor (TAO) is a high-conviction buy if the price dips below the $240 support level. Avoid chasing the recent rally in Venice AI (VVV) and instead wait for a significant correction from its current $17 range before entering. Prepare for a broader market "summer lull" and potential correction between July and October before a second wave of AI hype returns in late 2024.

AI Sector & Market Cycle

The current AI "super cycle" is described as a massive engine driven by Wall Street to facilitate major exits. The analyst suggests that while the sector is in a bubble, it is unlikely to burst until several high-profile liquidity events (IPOs) are completed.

Takeaways

• The "Flywheel" Effect: The AI boom is a cycle involving chip makers (NVIDIA, TSMC), hyperscalers (data centers), and model providers (OpenAI).
• Investment Timeline:
  • Short-term (Now - June): Bullish. Markets are expected to remain propped up to support the SpaceX IPO.
  • Medium-term (July - October): Bearish/Correction. A "summer lull" is expected as investment bankers go on vacation and the market digests recent gains.
  • Late 2024 (November - January): Bullish. A second wave of hype is expected leading into the Anthropic and OpenAI IPOs.
  • 2025 and Beyond: High risk of a bubble burst similar to the 2000 Dot-com crash once the major IPOs have "cashed out."

SpaceX (Pre-IPO)

SpaceX has reportedly selected Goldman Sachs as the lead underwriter for an upcoming IPO (or secondary sale) aimed at raising roughly $80 billion at a $1.75 trillion - $2 trillion valuation.

Takeaways

• Market Significance: This is expected to be one of the largest IPO events in history, eclipsing previous records held by Saudi Aramco and Alibaba.
• Access for Retail: General investors can access SpaceX exposure before the official listing through:
  • Perpetual Futures (Perps): Platforms like Hyperliquid offer SpaceX perps (though they currently trade at a significant premium/valuation).
  • Tokenized Shares: On-chain platforms like Pre-Stocks (available via OKX DEX aggregator) allow users to buy tokenized versions of real shares.
• Sentiment: Bullish until the June 30th deadline, as underwriters are incentivized to keep market conditions favorable.

NVIDIA (NVDA)

The analyst highlights NVIDIA as the core of the AI chips sector, noting that its earnings reports act as a "sell the news" or "confirmation" event for the entire industry.

Takeaways

• Rotation Risk: After NVIDIA reports, the analyst expects a potential rotation away from "chips" into other parts of the AI stack, such as memory (Micron, Western Digital) or model-driven companies.
• Correction Potential: Look for a cooling-off period in the semiconductor sector during the summer months.

BitTensor (TAO)

BitTensor is identified as one of the most fundamentally sound "crypto + AI" infrastructure projects. It functions as a decentralized machine learning network.

Takeaways

• Current Status: The analyst views TAO as "cheap" and attractive because it has lost some of its recent hype, leading to a better entry point.
• Actionable Levels: If TAO drops below the $240 support level (April lows), it is considered a strong "buy" opportunity for the next bull run.
• Role: It is a "pure-play" on decentralized AI training and specialized subnets.

Venice AI (VVV / DM)

Venice AI is highlighted as a rising competitor to "OpenRouter," providing a decentralized, privacy-preserving way to access top-tier AI models (like Claude or GPT).

Takeaways

• Utility: It offers a 40% discount on AI compute compared to Web2 providers, subsidizing growth to capture market share.
• Token Model: Uses a dual-token system: VVV (capital asset/staking) and DM (daily compute credits).
• Sentiment: Bearish on immediate entry. The token has rallied from $5.80 to $17.00 recently; the analyst recommends waiting for a significant correction before buying.

Other Notable Mentions

Pre-IPO Opportunities

• OpenAI & Anthropic: Similar to SpaceX, these can be traded via Hyperliquid or crypto exchanges offering pre-IPO futures. Anthropic is expected to IPO around October/November, with OpenAI following in December/January.

Cryptocurrencies

• Bitcoin (BTC): The analyst remains 80% in Bitcoin. Key support is at $75.3k - $75.4k. If it breaks below this, a drop to the $60k - $65k range is expected, which would provide the "ideal" entry for AI altcoins.
• Hyperliquid (HYPE): Viewed as a strong "trade everything" platform. It is noted for its innovation in allowing non-KYC access to pre-IPO stocks.
• Sui (SUI): A polished Layer 1, but the analyst questions its future narrative as the "Solana Killer" while Solana itself faces challenges.
• Fetch.ai (FET): Bearish/Neutral. The analyst prefers Venice over Fetch, claiming Fetch lacks "useful infra" outside of the crypto narrative.
• Toncoin (TON): Mentioned as having a stronger narrative than Sui due to its integration with Telegram.