🚨 ITALY’S $300M CHEESE BANK IS NOW FACING A HEAT CRISIS In Northern Italy, Credito Emiliano treats Parmesan like gold. Its warehouses store more than 500,000 wheels of Parmigiano Reggiano worth over $300 million, allowing producers to use aging cheese as collateral for loans. Farmers can access cash immediately while the cheese matures for years inside climate-controlled vaults. But Italy’s current heatwave is putting the entire model under pressure. Temperatures in Emilia-Romagna have exceeded 40°C, causing cows to produce up to 10% less milk while drought threatens the local grass and hay required to make authentic Parmesan. The vaults are getting more expensive to operate too, with cooling-related energy consumption rising ~30% during peak heatwaves. The cheese may appreciate as it ages, but the cost of producing and protecting it is rising even faster. Italy has effectively built a cheese-backed financial system. Now extreme heat is stress-testing it.

🚨 $ASTS MISSING EARNINGS IS ACTUALLY BULLISH FOR THE STOCK Sounds ridiculous, but look at the recent history: • March 2025: EPS miss. $ASTS +5.5% the next day. • May 2025: EPS miss. $ASTS +3.1% the next day. • August 2025: EPS miss. $ASTS +6.7% the next day. • March 2026: EPS miss. $ASTS +17% the next day. • May 2026: EPS miss. $ASTS went from $73 to $133 in just two weeks. Now, $ASTS has missed AGAIN: • EPS: -$0.77 vs -$0.32 expected. • Revenue: $31.5M vs $34.5M expected. And $ASTS is down 2.3% after-hours. There is a pretty simple explanation for this pattern. AST is still in its buildout phase, investors aren't buying this stock for quarterly EPS. They're buying it for satellite deployment, commercial service, and the potential revenue those satellites eventually generate. This quarter, AST also reported: • $1.3B contracted backlog • 13 satellites now in orbit • BlueBird 17-46 moving through production/assembly • $150M - $200M 2026 revenue guidance maintained So once again, Wall St gets an ugly earnings print while the underlying network keeps getting bigger. If history rhymes, today's earnings dump might end up looking a lot more interesting in a few weeks.

🚨 $META IS WINNING THE OPEN-SOURCE AI WAR AGAINST CHINA Mark Zuckerberg just announced Muse Glimmer, a new 30B open-weight AI model built specifically for agents. • 30B parameters • Apache 2.0 licensed • Multimodal, with text + image understanding • A quantized version compresses the core model to roughly 17GB It can run locally on a Mac or PC with a single consumer GPU and was trained specifically for tool use, coding, multi-step reasoning, and autonomous agent workflows. Muse Glimmer scored 75.5 on MCP Atlas versus 62.5 for Qwen3.6-27B. On DeepSearch QA: 74.6 versus Qwen’s 71.1. On SWE-Bench Pro: 51.2 versus Qwen’s 50.2. Meta is basically trying to make powerful AI agents cheap enough to run locally, customizable enough for developers to own, and capable enough to compete with much larger cloud models. AND, Zuck says this is only the beginning. The market is already reacting. $META is already trading +1.5% pre-market and Limitless traders already see a 87% chance $META closes green today: Market: Can $META become the global leader in open AI?

This man started trading from a Harvard dorm, survived a 55% collapse, became the final boss of GameStop, and bought Situational Awareness Fund portfolio after it blew up. He now runs the most profitable hedge fund ever. The wild story of Ken Griffin & Citadel 🧵

🚨🚨🚨 CITADEL JUST BOUGHT SITUATION AWARENESS' STOCK PORTFOLIO Ken Griffin’s firm bought a large portion of Leopold Aschenbrenner's Situational Awareness’s $16 BILLION public-equity portfolio in a rushed deal. On the same day, several of the fund's positions exploded: Nebius $NBIS +$29% Bloom Energy $BE +27% CoreWeave $CRWV +24% Sandisk $SNDK +24% Micron $MU +16% AMD $AMD +13% T1 Energy $TE +12% Coincidence? The timeline is getting more insane: 1. Aschenbrenner raises billions on the AI supercycle thesis. 2. The portfolio gets hit hard. 3. The fund rushes to sell. 4. Ken Griffin buys. 5. AI stocks immediately post one of their strongest days in months. Ken Griffin made hundreds of millions in just a few heartbeats.

🚨 STRATEGY’S BITCOIN FLYWHEEL MAY FINALLY BREAK TONIGHT!!! $MSTR reports earnings tonight with: • 843,775 BTC bought at an average price of $75,476 • STRC depegged to $88.5 versus its $100 target • Three straight weeks without buying more BTC • Strategy sold $544.5M of stock last week just to build cash reserves $STRC was designed to trade near $100 through adjustable dividends. The yield has already been raised to 12%, and $STRC still trades at a ~11% discount. Strategy has now started buying STRC back, including $25 million at an average price of $86.52, allocating another $975 million for buybacks. Sell $MSTR shares → dilute common holders → fund reserves and STRC support → buy less Bitcoin. Tonight could expose the weakest balance sheet Strategy has faced in years.

🚨 THE HOTTEST AI HEDGE FUND ON WALL STREET IS IN BIG TROUBLE Leopold Aschenbrenner’s $20 BILLION Situational Awareness fund suffered heavy losses after the recent performance of AI stocks. Now it is approaching investors and lenders for more capital. • Aschenbrenner launched the fund in 2024 with roughly $225 million. • In under two years, it grew to around $20 BILLION. • The fund reportedly returned 439% net through June 2026. • It used leverage to build concentrated exposure across AI chips, cloud infrastructure, power, and data centers. • They went heavily long on AI infrastructure, power, memory, and data-center names, including $BE, $SNDK, $CRWV, $IREN, $CORZ, and $APLD. • When the AI trade reversed, several of those positions fell faster than the semiconductor hedges could offset. • Existing investors and lenders have now been approached for fresh capital. • Some investors were reportedly offered the opportunity to buy assets directly from the portfolio. Aschenbrenner reportedly told investors the selloff represents a buying opportunity and pointed to a potential Anthropic IPO as a future catalyst. One of the greatest hedge fund runs ever just met its first serious stress test.

🚨 THE IRAN WAR IS GENERATING BILLIONS FOR DEFENSE STOCKS Lockheed Martin $LMT stock rose 7% after crushing Q2 earnings and raising its full-year guidance. 🟢 Revenue: $20.1B vs Est. $19.4B, +11 YoY 🟢 EPS: $7.94 vs Est. $7.23 🟢 Net income: $1.84B 🟢 Backlog: $230.4B, +38% YoY Every business segment grew with missile demand driving most of the acceleration • Missiles and Fire Control: +20% • Aeronautics: +9% • Rotary and Mission Systems: +8% • Space: +6% Rising global conflicts are boosting profit outlooks, as the Pentagon moves to restock missiles and other critical defense weapons. Lockheed recently received a seven-year contract worth up to $35B to quadruple production of THAAD missile interceptors. It is also preparing to increase annual PAC-3 production from roughly 600 missiles to 2,000. Governmenets a rebuilding their missile inventories and a $230B backlog now represents almost three years of Lockheed’s projected revenue. Limitless traders see a 72% chance $LMT closes green today after smashing earnings: 🟢 Market: The only question is how quickly Lockheed can build everything governments have ordered.

🚨 KOSPI HAS RECLAIMED ITS 100-DAY MOVING AVERAGE The last time KOSPI fell below the 100-day MA and reclaimed it was in 2025, triggering a historic 300% rally. Now, after crashing 30% in just one month, the index has recovered the same key technical level. Despite trading near the 7,000 mark, Limitless traders see a 12% chance that KOSPI pushes above 9,000 in July. Market: History repeating?

🚨 GOOGLE’S FREE CASH FLOW JUST TURNED NEGATIVE FOR THE FIRST TIME EVER You probably read this headline several times today, and it sounds like Google’s business is collapsing. In reality, it's not that bad. Here's why: $GOOG generated a record $39.1B in operating cash flow during Q2, up 41% YoY. BUT, it spent $44.9B on data centers, chips, and other infrastructure: $39.1B operating cash flow − $44.9B capex = −$5.9B free cash flow Alphabet isn’t losing money per se. It is spending more cash than ever to win the AI race. • $242.5B in cash and securities • $53.3B in trailing 12-month FCF • Cloud revenue grew 82% • Cloud operating profit more than tripled to $8.8B But YES, there are risks. Google raised its 2026 capex forecast to $195B–$205B and expects another significant increase in 2027. It has transformed from an asset-light advertising cash machine into a capital-intensive AI infrastructure company. Now, its AI revenue must grow fast enough to justify the spending, rising debt, depreciation, and dilution. Limitless traders are expecting some market panic, with just a 20% chance that $GOOG will close the week green. 🔴 Market: Is this just a short-term shakeout or the beginning of a bigger correction?

🚨 $IBM CRASH MAY BE FAR FROM OVER IBM just reported the Q2 earnings, and the numbers are weak: 🔴 Revenue: $17.16B vs. Est $17.86B 🔴 Adjusted EPS: $2.93 vs. Est. $3.02 🔴 Infrastructure: -7% 🔴 IBM Z: -42% 🔴 Transaction Processing: -8% But most of this was already known. IBM pre-released the results last week, triggering a record 25% one-day crash and erasing roughly $67 billion in market value. The actual post-earnings update was guidance: • 2026 constant-currency revenue growth cut to 4%-5% from more than 5% • Free cash flow still expected to increase by approximately $1B • Full-year pre-tax margin expansion is now expected to improve There are still pockets of strength: • Red Hat revenue grew 11% • Distributed Infrastructure grew 37% • Power and Storage built a nearly $500M order backlog • Operating pre-tax margin expanded 30 basis points IBM says large deals were delayed as enterprises redirected budgets toward servers, storage, memory, and cybersecurity. The maintained cash-flow target prevented another collapse, but the disappearing earnings bounce shows investors still aren’t convinced this was only a timing problem. IBM now needs to prove those delayed deals can close in the second half. Otherwise, the guidance cut confirms something worse: AI infrastructure spending is actively draining budgets from traditional enterprise software.

🚨 $GOOG EARNINGS COULD SEND THE ENTIRE AI MARKET HIGHER TONIGHT Alphabet is expected to spend approximately $180-$190 billion on CapEx this year, nearly double its 2025 spending. That money is building the compute, data centers, networking, memory, and storage needed to train and run AI at a global scale. If Alphabet LOWERS its CapEx outlook, $GOOG could rally as free-cash-flow pressure eases, but semiconductor and hardware stocks may sell off as investors question future AI demand. If Alphabet RAISES spending again, $GOOG could initially fall as investors focus on weaker free cash flow. But another record CapEx projection would confirm that demand for AI infrastructure remains enormous, potentially benefiting the entire hardware supply chain. The best outcome for $GOOG would be proving it can sustain this spending without sacrificing growth or margins. Wall Street expects approximately: • Revenue: $117.1B, +21% YoY • Adjusted EPS: $2.88, +25% • Search revenue: $63.4B, +17% • Google Cloud revenue: ~$22.5B, +63% • Quarterly capex: ~$45B The bullish scenario: • Cloud growth remains above 60% • Search keeps growing through the shift toward AI answers • Cloud backlog expands beyond $462B • Demand continues exceeding available compute • Operating margins absorb another quarter of record investment Limitless traders currently see a 68% chance that $GOOG closes green today. 🟢🟢🟢 Market: Another massive CapEx commitment could lift the entire AI market.

🚨 WALL STREET MAY BE COMPLETELY WRONG ABOUT $NOW EARNINGS The stock has dropped -47% over the past year because investors fear AI will destroy traditional seat-based SaaS. BUT, as companies integrate AI in their processes, the number of AI workflows are growing far faster than employee numbers. ServiceNow already processes 85 billion workflows annually, while more than 50% of new business is now generated through usage-based models. The AI CapEx is already translating into revenue growth: • $1M+ Now Assist customers: +130% • New $5M+ ACV deals: +80% • Subscription revenue: +22% • Total RPO: $27.7B, +25% • 2026 Now Assist ACV target raised from $1B to $1.5B+ Today’s earnings will test whether that future is arriving fast enough. Wall Street expects approximately $3.9 billion in revenue and $0.86 adjusted EPS, but the most important number will be cRPO growth. Investors are pricing in roughly 19% after previous deal delays and weaker acquisition-adjusted guidance. The bullish scenario: • cRPO holds near or above 20% • Now Assist remains on track for $1.5B+ ACV • Usage-based revenue continues replacing seat dependence • Management maintains or raises full-year guidance If those four things happen, the narrative will shift towards AI accelerating $NOW's growth, rather than destroying it. $NOW needs to show that every new enterprise AI agent creates another workflow ServiceNow can control.

🚨 BLACKBERRY $BB IS BECOMING THE SECURITY LAYER FOR GLOBAL GOVERNMENTS BlackBerry is now securing communications for some of the world's most powerful governments. Its SecuSUITE Server 6.0 and Client 6.0 have been re-certified under the latest NIAP Common Criteria standards. This is far more important than another cybersecurity badge. NIAP certification independently verifies that the software meets the security requirements needed for use across sensitive US government systems. SecuSUITE protects: • Voice calls • Messages • File sharing • Operational coordination • Communications metadata Unlike consumer messaging apps, governments retain control over their encryption keys, data, infrastructure, and deployment. BlackBerry’s secure communication products are already deployed across: • Every G7 government • 18 of the 20 G20 governments • NATO-sensitive environments • US national security systems Government security products must survive independent testing, source-code reviews, supply-chain verification, and repeated re-certification. As commercial spyware and state-sponsored espionage become more advanced, secure communications are turning into sovereign infrastructure. BlackBerry's QNX could become the safety layer beneath physical AI, while SecuSUITE becomes the encrypted communications layer connecting governments and critical infrastructure. The phone company you knew died years ago. What remains may have built two of the most overlooked infrastructure moats on the market.

🚨 SPACEX IPO IS MIRRORING THE SAME PRICE ACTION AS TESLA $TSLA IPO’d at $17, closed its first day at $23, pumped to $30 on day two, then dropped roughly 50% from its high. $SPCX closed its first day at $176, pumped to $225, then dumped back to $120. That’s almost the same 50% drawdown from the post-IPO high. Now Limitless traders see just a a 18% chance $SPCX drops below $100 in June, and just a 4% chance it climbs back above $180. Market here: Tesla eventually became one of the greatest trades in history, but early IPO buyers still got punished first. History doesn't repeat, but it often rhymes.

🚨 $IBKR IS COMING FOR ROBINHOOD’S THRONE Interactive Brokers reports earnings after the close today, with Wall Street expecting: • Revenue: $1.80B, +22% YoY • EPS: $0.64, +26% YoY Its June numbers already suggest a monster quarter: • Daily trades: +53% YoY • Client accounts: +34% • Client equity: +40% to $930B • Margin loans: +67% to $109B $IBKR holds 2.5x more client assets and 5.6x more margin loans despite having roughly 1/5 the total accounts. Yet, $HOOD's valuation is ~$91B, more than double $IBKR’s $41B valuation. Robinhood is growing faster across crypto, prediction markets, and consumer finance, but Interactive Brokers generates far more value from each account while maintaining a 77% pretax margin. Yesterday's $SCHW reaction also shows how high the bar has become. Schwab beat revenue and earnings estimates but still fell in premarket trading. This means merely beating estimates may not be enough for $IBKR. Investors will want accelerating commissions, resilient interest income and another quarter of 75%+ margins. A major beat tonight could expose one of the biggest valuation gaps in the brokerage industry just eight days before Robinhood reports.

🚨 INSIDER ALERT 🚨 These CEOs were buying MILLIONS of their company stock in the last 30 DAYS: Jack Jiajia Huang - $COE - $55.22M Michael Quinn - $DPC - $14.36M Scott Beck - $GLOO - $3.50M Wai Yue Seto - $TDIC - $2.45M Perry Sook - $NXST - $1.99M Gail Boudreaux - $ELV - $1.00M Phong Le - $STRC - $998.8K Ross Bhappu - $UUUU - $967.9K Enric Asunción - $WBX - $886.4K Richard Mills - $CREX - $700K Peter Matt - $CMC - $504.5K Daniel de Boer - $PRQR - $499.5K Anastasios Arima - $IPX - $496.6K Best conviction indicator?