Elon Musk says the “limiting factor currently is memory” with supply growing around 20% annually against demand of 200% or more. That warning comes from $SPCX (one of world’s largest incremental buyers of compute) strengthening HBM & DRAM pricing power for $MU, $SKHY & Samsung.

Elon Musk says $SPCX will build exclusively on $NVDA calling Vera “the best architecture and the best AI computer.” He expects compute capacity to exceed 2 GW by year-end and move closer to 10 GW than 5 GW by the end of 2027.

Jim Cramer said last week he plans to sell all his Bitcoin over quantum-computing risks. The move follows $IBM CEO warning that “you should be paranoid about it in three to four years.”

$RKLB is now expected to become profitable by 2027 following its $IRDM acquisition with combined company projected to earn ~$140M that year Iridium’s network would offset Rocket Lab’s burn & create a vertically integrated launch, spacecraft & communications challenger to $SPCX

THIS HAS TO BE THE STORY OF 2026 Ken Griffin’s Citadel was pushing surprise-rate-hike fears just days before the AI trade collapsed and forced 4x-levered Leopold Aschenbrenner's Situational Awareness to unload its book near the lows. Citadel then reportedly bought most of those assets at significantly lower prices knowing that if sentiment deteriorated enough the fund could be forced to sell which makes the entire sequence look absolutely ruthless. This is why the stock market is the greatest game on Earth.

SAMSUNG Q2 EARNINGS • Revenue: $118.1B vs. Est. $119.2B (+130% YoY) • Operating profit: $61.7B vs. Est. $60.8B (+1,814% YoY) Samsung expects strong H2 memory demand led by continued AI infrastructure spending and broader agentic AI adoption

$BE CEO says recent customer conversations point to accelerating AI infrastructure investment Bloom signed its first hyperscaler deal less than a year ago and now works with every major U.S. hyperscaler positioning the company as the emerging standard for behind-the-meter power

$BE ABSOLUTELY CRUSHED THEIR Q2 EARNINGS • Revenue $1.07B vs Est. $827M • EPS $0.78 vs Est. $0.41 • EBITDA $253M vs Est. $149M • Gross Margin: 34% vs. Est. 32% FY26 Guidance • Revenue $4.05B vs Est. $3.74B • EPS $2.70 vs Est. $2.17

$CRCL is acquiring $IBM blockchain patent portfolio adding nearly 1,000 issued patents across more than 680 patent families worldwide. The deal significantly expands Circle’s intellectual property base as it builds out its stablecoin and payments infrastructure.

ThE mArKeT iS iN sUcH a BuBbLe Yet these are the 2027 earnings multiples for some of the world’s biggest companies: • $AMZN ~23x • $GOOGL ~22x • $NOW ~22x • $MSFT ~20x • $AVGO ~20x • $DELL ~20x • $TSM ~19x • $NVDA ~16x • $META ~16x • $ORCL ~11x • $SNDK ~7x • $MU ~6x • $SKHY ~4x

$INTC has emerged as one of 2026’s biggest AI winners by benefiting across Xeon CPUs, purpose-built silicon and advanced packaging. That exposure is expanding because every accelerator rack still needs general-purpose compute to manage data, storage and workloads making agentic AI a new growth driver for server CPUs. The same buildout is pulling Intel deeper into custom silicon which nearly tripled YoY to a ~$2B annual run rate and advanced packaging where management already sees billions in backlog potential.

$GOOGL Ironwood TPU packs ~190GB of HBM3E so every new deployment directly increases premium memory demand across the cluster. That demand compounds as Gemini APIs process ~22B tokens per minute giving $SKHY the clearest near-term upside and $MU more upside if it gains share. Google has both the returns and the incentive to keep expanding memory capacity with Cloud margins at 36% and capex rising another $15B.

FUTURUM EQUITIES PODCAST EPISODE #50# Daniel and I will be live today at 1 PM ET exclusively on the Futurum Equities YouTube channel covering: • Why $GOOGL may be the most mispriced winner of the AI buildout and what its rising capex means for $NBIS, $CRWV, $CIFR, $DOCN, $AMZN & $MSFT • Whether $INTC breakout quarter marks a real turnaround and what it still needs to prove across 18A, 14A & external foundry demand • How $IREN $2.8B in new AI cloud contracts and customer prepayments are changing their story • Why $NOW rose while $TSLA fell after earnings & what that says about visible AI revenue versus future AI promises • What Kimi K3’s compute constraints signal for memory and networking across $MU, $SKHY, $AVGO, $CRDO, $ALAB & $MRVL We’ll leave the last 15 minutes for live Q&A so bring your questions!

$VZ rules out giving $SPCX Starlink MVNO access saying theres “no back door” through its wireless network. The move supports $ASTS carrier-first model with Verizon instead planning to deliver satellite connectivity through its joint venture with $T and $TMUS.

$NVDA CEO Jensen Huang joins $MSFT, $PLTR and $NOW in arguing that open-weight AI models are critical to U.S. competitiveness. The group writes “relying solely on closed models is not inherently safe” warning that concentrating advanced AI behind a few providers creates single points of failure. They argue open models expand access, lower costs, strengthen competition and give organizations greater control over their data and infrastructure.