Rocket Terminal

🚨 CATHIE WOOD ON A POTENTIAL TESLA–SPACEX MERGER Cathie Wood says China could be the biggest geopolitical obstacle to Elon Musk combining $TSLA and $SPCX. Her view: Musk is balancing relationships with both Trump and Xi while navigating Tesla’s major presence in China and SpaceX’s role as a U.S. defense contractor. A Tesla–SpaceX merger would have major geopolitical implications. 🇺🇸🇨🇳 Would regulators allow it?

Warren Buffett on what to do when your stocks drop 50%: “You’re not going to pick the bottom. You’ve got to be prepared when you buy a stock to have it go down 50% or more and be comfortable with it.” Even Berkshire Hathaway $BRK.B has experienced 50% drawdowns three different times. Buffett’s biggest warning: the investors who get hurt are often those who borrow to invest or react emotionally to every price move. The lesson is simple: You can’t control market volatility, but you can control your time horizon, leverage, and reaction to it. “I know it will work out over 20 or 30 years.”

$IREN says $MSFT requested a “network design change” across its Horizon sites, with the contract allowing delivery extensions without delay credits for customer-requested changes. Given that the first site has already been live since August, this looks more like Microsoft fine-tuning its rollout than backing away from the deal. The key distinction: a design change isn’t necessarily a demand issue.

Jamie Dimon on one of the hardest parts of management: “You have to get rid of the bad people.” Building a strong organization isn’t just about hiring the right talent. It’s also about having the discipline to make difficult personnel decisions.

$IREN just signed a 5-year deal worth approximately $22M per MW, with the customer prepaying 90% of GPU costs. That’s a major difference from its $MSFT tranches, where customer prepayments were around 20%. If $CRWV and $NBIS can secure similar terms, it could significantly reduce their reliance on expensive debt financing. Customer-funded GPU deployments could become an important advantage for neoclouds scaling AI infrastructure.

Chinese AI lab Moonshot, the company behind Kimi, has reportedly sought access to NVIDIA $NVDA Blackwell chips through European data centers. Per CNBC, the company discussed renting Blackwell capacity from European cloud providers this year. US export controls restrict direct shipments of these chips to China, but overseas cloud access remains a potential workaround under current rules. The White House previously said Moonshot had accessed Blackwell chips through a facility in Thailand. AI compute demand is increasingly crossing borders, even as export restrictions tighten.

Polymarket odds of Anthropic going public by November 30 have fallen to 70%, down 13 percentage points this week. The odds were still above 85% on Wednesday before dropping sharply today as the Nasdaq 100 suffered its worst day since March 2020. A sharp shift in IPO expectations amid a major market sell-off.

AMD CEO Lisa Su has a message for investors questioning the scale of AI spending: “Computing, in many ways, equates to intelligence.” Su believes companies that invest ahead of the curve will be better positioned to solve problems, accelerate growth, and capitalize on AI over the next 3–5 years and beyond. Her view is clear: The AI opportunity is long-term, and the investments have to happen now.

🇺🇸 The IRS has released the new federal income tax brackets for 2027. Here’s how they compare with 2026: SINGLE FILERS • 10%: $12,800 ($12,400) • 12%: $12,800+ • 22%: $52,025+ • 24%: $109,125+ • 32%: $208,325+ • 35%: $264,550+ • 37%: $661,375+ MARRIED FILING JOINTLY • 10%: $25,600 ($24,800) • 12%: $25,600+ • 22%: $104,050+ • 24%: $218,250+ • 32%: $416,650+ • 35%: $529,100+ • 37%: $793,650+ The IRS continues adjusting income thresholds for inflation, meaning more income can fall into lower tax brackets. How much will these changes impact your 2027 tax bill?

$NVDA is reportedly in talks with Apollo to convert Brightspeed’s former telephone buildings into AI data centers across 20 states. The sites already have power, fiber connectivity and zoning approvals, potentially offering a faster path to AI infrastructure deployment. An interesting workaround as data center projects face growing local opposition.

HISTORIC SELLOFF IN THE S&P 500. 📉 Today’s chart is for the history books. Yesterday’s post-election rally is now barely a blip compared to today’s reversal. The S&P 500 has erased $3 TRILLION in market value today. That’s roughly $750 billion wiped out every hour since the opening bell. What a reversal.

🚨 Anthropic has disclosed a record $895 BILLION in future AI infrastructure commitments. The obligations include computing power, AI chips, leases, and related infrastructure. Key figures: $448B (50%) expected by the end of 2030. ~$70B due over the next 12 months. $161B committed to Broadcom $AVGO. $121B to Google $GOOGL, with up to $150B in additional estimated AI chip spending. Up to $121B to SpaceX $SPCX. At least $110B to Amazon $AMZN. For perspective, only Alphabet ($1.06T) and Meta ($866B) have larger disclosed commitments among Big Tech companies. AI infrastructure spending is reaching unprecedented levels. The scale of capital required to compete in AI is becoming increasingly clear.

🚨 Chinese AI lab Moonshot is reportedly seeking to rent more than 8,000 $NVDA Blackwell GPUs from European neocloud providers, with one proposal offering a ~40% upfront premium. That’s a striking signal of just how scarce frontier AI compute remains. Demand is still outpacing available capacity.

🚨 Jack Dorsey’s Block $XYZ has agreed in principle to pay $764 million to settle a DOJ investigation into its anti-money laundering controls, according to an SEC filing. The proposed settlement remains subject to a final agreement and court approval. A significant regulatory development for the fintech company.

$META is seeing a familiar tension as data center investments become a political issue. The president of Meta says a newly elected governor who campaigned on data centers requested a meeting after inauguration, emphasizing: “We don’t want to lose this investment in our town. We don’t want these jobs to go elsewhere.” The debate around data centers is increasingly about balancing local concerns with investment, jobs, and economic growth.

The US Treasury has injected $114 billion into the financial system in just 10 days as its Treasury General Account (TGA) balance declines. That’s a significant liquidity boost in a short period. Historically, more liquidity in the banking system has been a supportive backdrop for risk assets. Could this provide a tailwind for markets?

🚨 $MU Micron has suspended plans for a memory chip plant in Taiwan 🇹🇼 due to a prolonged labor dispute. The development adds another potential complication to the global memory supply chain as demand for chips continues to grow amid the AI infrastructure buildout. Memory supply remains a critical piece of the AI semiconductor race.

🚨 OpenAI pledges to cover the full power costs of its future data centers, according to CNBC. For facilities it owns and operates, OpenAI says it will pay for electricity and related grid infrastructure to prevent additional costs from being passed on to local ratepayers. The company also committed to: 🔹 Publishing data center construction plans. 🔹 Seeking community input. 🔹 Avoiding NDAs with public officials. The announcement comes after voters opposed or restricted data center development in 40 of 41 local ballot measures across 10 states during Tuesday’s midterms. AI infrastructure expansion is increasingly facing a challenge beyond chips and capital: community acceptance and access to power.

🚨 $AAPL kicks off a seven-tranche, investment-grade U.S. dollar bond offering. Apple is tapping the debt markets across seven different maturities, giving investors multiple ways to gain exposure to its investment-grade debt. Another major corporate bond issuance from one of the world’s largest companies.

🚨 Amazon is replacing Grubhub with $UBER Eats as its restaurant delivery partner for U.S. Prime members. Prime members can now order directly through Amazon’s website or app, with $0 delivery fees on Uber Eats orders of $25 or more. Interestingly, the previous Grubhub+ benefit waived delivery fees on orders over $12, meaning the minimum order threshold has more than doubled. For $UBER, the deal creates another major distribution channel, giving it direct access to Amazon’s massive Prime subscriber base. A win for Uber Eats, but a less generous perk for Prime members?

$AMZN is planning a data center next to $VST’s Comanche Peak nuclear plant in Texas, with plans to draw power directly from the facility and provide backup generation when the grid needs it. The opportunity for Vistra is clear: monetize surging AI power demand through long-term contracts without waiting years for new power plants to come online. Existing nuclear capacity is becoming increasingly valuable in the AI infrastructure race.