*AI INVESTOR ASCHENBRENNER UNWINDING TRADES AFTER LOSSES: CNBC There it is. CNBC reporting King Leo is unwinding trades. "Several of the firm's prime brokers — including Bank of America, Goldman Sachs and JPMorgan Chase —have been working with the fund as it seeks to meet margin requirements or reduce positions in an orderly fashion, according to people familiar with the discussions. The brokers have been marketing a group of the firm's holdings on both the long and short side for sale prior to today's start of trading, according to people familiar with the situation."

The selloff in semis is largely driven by short selling heading into the hyperscaler prints this week, per UBS TMT: “Our PB data over the last two sessions shows HFs beginning to put on tactical shorts in U.S. Semis ahead of hyperscaler capex estimates due tomorrow and Thursday night (see chart below). That’s a notable shift. For earlier momentum unwinds, the selling was almost entirely driven by longs getting cut. This is new shorting behavior in Semis. In fact, U.S. Semis saw -2.8 standard deviations of net selling on Monday, with more than 75% of that flow driven by short sales. Meanwhile, on the other side of the ledger, hyperscalers were the most heavily bought group in U.S. equities yesterday, fueled by some good old-fashioned short covering. For context, HFs have now largely cleaned up the hyperscaler shorts they put on ahead of GOOGL earnings last week. That said, while positioning remains net long, enthusiasm has clearly come down a few notches. Hyperscaler exposure is now sitting at its lowest level in the last two years, with the current long/short ratio at 2.4x versus 13.6x at the January 2025 peak”

*ASTERA LABS, COREWEAVE, NEBIUS, ROCKET LAB TO JOIN NASDAQ-100 $ALAB, $CRWV, $NBIS, $RKLB and $TER are joining the Nasdaq 100 They’re replacing $CHTR, $CTSH, $INSM, $VRSK, and $ZS

U.S. JURY FINDS OPENAI, CEO SAM ALTMAN NOT LIABLE TO ELON MUSK FOR STRAYING FROM CHARITABLE MISSION, BECAUSE MUSK WAITED TOO LONG TO SUE The verdict is out in the Musk vs. OpenAI lawsuit – OpenAI wins because Elon waited too long to sue. Big win for Sama

*CEREBRAS SHARES INDICATED TO OPEN AT $350, IPO PRICED AT $185 $CBRS priced at $185 last night – not expected to open until this afternoon but early indication showing $CBRS may open at $350. Insane