🤖 AI Compute & Data Centers

• $AMD has a credible path toward $100B in annual revenue by 2028. The re-rating started with GPU commitments from $META, $ORCL, and OpenAI, but the second leg is the CPU bottleneck: every AI cluster still needs CPUs, not just GPUs. MI450 and Helios are being framed as a real second source for AI compute. 1

• The Blackstone/QTS Virginia Digital Gateway exit looks more like project-specific noise than proof that AI demand or CapEx is rolling over. If built, the full campus would have been massive: 2,100 acres, 37 data centers, about 22 million square feet, gigawatt-level power, and roughly $100B investment. The bearish “AI demand is gone” read looks too lazy. 2

• The cleaner read on QTS: walking away from an 800+ acre portion of the Virginia project does not automatically equal an AI infrastructure bust. The scale was extreme, so cancellation headlines can easily overstate the signal. 3

• $IREN is a high-beta way to express the leaked Anthropic capacity angle. Reported docs point to a 1.4GW Australia capacity push worth ~$22B. IREN already has an 800MW Bundey campus, a secured connection agreement, and a state government partnership, making it one of the few plausible gigawatt-scale Australia names. 4

📊 Valuation & Growth Screens

• PEG is being used as the cleaner growth-adjusted valuation filter: PEG < 1 can flag mispriced growth, while PEG > 2 starts moving into the danger zone. Current screen: $TSLA 4.5x, $SPCX 3.8x, $GOOGL 2.9x, $AAPL 2.6x, $INTC 2.5x, $HOOD 2.0x, $PLTR 2.0x, $META 1.5x, $ASML 1.5x, $AMZN 1.4x. 5

• A better PEG setup uses a 2026 to 2028 window, because the multiple needs to adjust for the actual compounding rate. $SOFI may look expensive at ~26x forward earnings, but the key is whether earnings growth compresses that valuation fast enough. 6

• $SOFI still looks early in the “top 10 bank” thesis. It took 11 years to reach its first 4M members, then added nearly another 4M in the past year alone. The deposit runway remains large because SoFi holds less than 15% of the deposit base of today’s number 10 U.S. bank, while building a one-stop financial platform. 7

📈 Technical Setups & Trade Ideas

• $HIMS has a squeeze-style setup: peptides + healthcare narrative, 30% short interest, and moving average plus level reclaims. The chart is showing energy after reclaiming key zones. 8

• $T is not flashy, but the trade setup is getting interesting after a 33% drop in roughly the last two months. It is hitting a notable bounce zone, carries a 5.4% divi yield, and looks viable as a 3-6 month trade rather than a hype chase. 9

• $FIG has an under-the-radar catalyst stack: a $SPCX partnership, plus existing partnerships with SpaceX, Anthropic, and OpenAI. Add 30% short interest, a big base, and large green volume bars, and the setup has real squeeze fuel. 10

⚠️ Market Risk & Positioning

• U.S. investors are running record leverage. Net margin debt just hit a record high at 1.2% of U.S. market cap. The contrast is stark: in 2009, investors were sitting on net cash; now they are borrowing against the market at the highest level on record. That raises fragility if momentum cracks. 11