💻 AI Infrastructure & Compute

• $IREN still looks mispriced. The market seems to be underpricing both the $NVDA alignment and how hard its power footprint is to replicate. If ~5 GW of secured power is successfully converted into Nvidia-aligned AI cloud capacity, the market may start closing the implied 10x gap. 3

• $ALAB has a stronger AI infrastructure setup than the move suggests. The key read-through is not just the 17% spike, but management claiming its silicon, optical, and software stack is integrated into 90% of global AI compute servers and clusters, with $20B+ TAM across Scorpio X-Series and UALink/PCIe as AI systems shift deeper into scale-up connectivity. 2

• A new edge connectivity name is being framed as an asymmetric small-cap AI infra setup: sub-$500M market cap, trading at ~3x cash, with backlog growing ~40% sequentially, plus a new platform built for AI data-center fiber connectivity. The positioning implies the pullback created an entry rather than a breakdown. 13

• $GOOGL token throughput is the real tell on AI demand. Monthly token processing reportedly went from 9.7T in May 2024 to ~480T in May 2025 to 3.2Q+ in May 2026. The deeper takeaway is that this kind of ramp makes storage and memory demand hard to fade. 9

🧠 AI Marketing & Data Moats

• $ZETA benefits from the AI stack in a less obvious layer. AI can generate campaigns, but campaign automation is useless without identity resolution. As cookies disappear and marketing gets more automated, SuperGraph and Athena become more valuable because they help brands identify, target, and personalize at scale. 5

📊 Index / Large-Cap Trading Setup

• The tape is at a short-term inflection point: $SPY has only gone down 4 days in a row once all year, and $QQQ has not gone down 4 days in a row all year. That makes the next session a meaningful streak test rather than just another red day. 6

• $NVDA still screens constructive into earnings despite the event risk. The setup is backed by a wide analyst PT cluster above spot: Morgan Stanley $285, DA Davidson $300, KeyBanc $300, UBS $275, Bank of America $320, Wells Fargo $315, Susquehanna $275, versus current price: $220. The core stance is that upside expectations remain intact post-pullback. 14

🧾 Portfolio Construction & Long-Term Investing

• Sticking to DCA through the 2021-2022 drawdown would have materially reduced damage. If contributions had continued monthly or quarterly from late 2021, then by the time the Nasdaq bottomed, principal drawdown would have been only 10%-20%; for the S&P 500, principal loss would have been less than 10%. The bigger point: capital deployed in 2022 in tranches should have had room to double during the following three-year bull run. 15

• $BTC should not be framed like equities. Stocks compound through profits, dividends, buybacks, and multiple expansion. BTC is being framed more like a core monetary asset, where long-term holders care not only about price but whether their BTC stack keeps increasing. In that framework, volatility trading is an add-on to HODL, not a replacement for it. 20

🏗️ Telecom / Network Infrastructure

• $NOK should be analyzed through the operating segment that actually matters, not through the $NVDA halo or broad valuation shortcuts. The priority lens is Network Infrastructure, implying that this segment is the cleanest way to understand the current bull case. 17

🌍 Macro / Geopolitical Read-through

• The White House messaging around the alleged Trump “TACO” episode reads like a signal on pain tolerance. The fact pattern — a narrative tied to Gulf officials urging the U.S. not to attack, then that narrative being called false the next day — suggests the administration may be less willing to own a visibly dovish justification than the market initially assumed. 16