Sviatlana Zyhmantovich/iStock via Getty Images Just before the recent round of activity around the AI trade - first a dive south before an overwhelming rally from the March lows - I have made my preferences known when it comes to hyperscalers. Alphabet Inc. ( GOOG )( GOOGL ) and Microsoft Corporation ( MSFT ) are two names that have several things in common - a dominant distribution (Search/Androi...
Sviatlana Zyhmantovich/iStock via Getty Images Just before the recent round of activity around the AI trade - first a dive south before an overwhelming rally from the March lows - I have made my preferences known when it comes to hyperscalers. Alphabet Inc. ( GOOG )( GOOGL ) and Microsoft Corporation ( MSFT ) are two names that have several things in common - a dominant distribution (Search/Android/Workspace - Windows/Office/enterprise), a hyperscale cloud (Google Cloud - Azure) and a paid AI assistant (Gemini - Copilot). Now they also have a capex burden that pulls them together. Despite the similarities in the stage of the AI journey and the wider business similarities, I have had a varied outlook on the two. For Microsoft, the Strong Buy call in early March was backed by real capex drag being priced in at near-historical low valuations. Margins held through the spend, and a stress floor even survived weak AI returns. The case looked more like overdone fear when monetization was already visible, and demand was exceeding supply. For Alphabet , the same capex drag looked to have raised the ask of prices. The rally at that point had been most recently supported by a sharp multiple expansion, rather than one backed by strong earnings revisions, leaving investments with a lower margin of safety. Since then, Alphabet has moved further up (by almost ~20%), while Microsoft went further down before some recovery (net-net ~4% up from the time of my thesis). The moves have not been entirely irrational even going by my earlier stance. Cloud margin strength has grown stronger, supporting conversion evidence. In fact, when one accounts for Alphabet's full-stack ownership versus Microsoft's dependencies on rented models (OpenAI, Anthropic) and merchant GPUs (versus Google's own frontier model, Gemini, and silicon/TPU ownership), the outcome is less surprising than it first appears. All in all, I feel the Alphabet case has gotten even stronger than in March, while Microsoft's nea...
Whale Rock Capital founder and veteran hedge fund manager Alex Sacerdote laid out one of the clearest bull cases for the AI buildout on Episode 477 of the Invest Like the Best podcast. His argument is that AI-powered coding is the proven unlock of the entire AI wave, and he believes the market is barely ... Veteran Hedge Fund Manager: Anthropic Targets $500 Billion Market Opportunity as ‘Just Codi...
Whale Rock Capital founder and veteran hedge fund manager Alex Sacerdote laid out one of the clearest bull cases for the AI buildout on Episode 477 of the Invest Like the Best podcast. His argument is that AI-powered coding is the proven unlock of the entire AI wave, and he believes the market is barely ... Veteran Hedge Fund Manager: Anthropic Targets $500 Billion Market Opportunity as ‘Just Coding Alone Has Completely Taken Off’
The bill provides roughly $70 billion for immigration enforcement and highlights a GOP caucus continuing to endorse Trump's immigration agenda as Democrats warn Congress has ceded its oversight role. (Image credit: Mariam Zuhaib)
The bill provides roughly $70 billion for immigration enforcement and highlights a GOP caucus continuing to endorse Trump's immigration agenda as Democrats warn Congress has ceded its oversight role. (Image credit: Mariam Zuhaib)
A number of stocks fell in the afternoon session after the midday Apache helicopter incident over the Strait of Hormuz removed the stable macro backdrop the semiconductor sector needed to extend its recovery.
A number of stocks fell in the afternoon session after the midday Apache helicopter incident over the Strait of Hormuz removed the stable macro backdrop the semiconductor sector needed to extend its recovery.
Electric commercial vehicle maker Xos ( XOS ) said on Tuesday it secured a follow-on order worth about $3M for 12 Xos Hub mobile energy storage and charging units from an autonomous fleet operator. The order will support the customer's expansion across North America and Europe and follows Xos' first Hub deliveries into Europe earlier this year. Xos said the mobile charging systems can be deployed ...
Electric commercial vehicle maker Xos ( XOS ) said on Tuesday it secured a follow-on order worth about $3M for 12 Xos Hub mobile energy storage and charging units from an autonomous fleet operator. The order will support the customer's expansion across North America and Europe and follows Xos' first Hub deliveries into Europe earlier this year. Xos said the mobile charging systems can be deployed without permanent utility upgrades, helping fleet operators expand charging capacity more quickly. Shares of Xos were up about +28% at $4.60 in after-hours trading. More on Xos Xos, Inc. 2026 Q1 - Results - Earnings Call Presentation Xos, Inc. (XOS) Q1 2026 Earnings Call Transcript Xos, Inc. (XOS) Q4 2025 Earnings Call Transcript Xos to raise $6M in registered direct stock offering Xos doubles after launching 2.5MWh Power Hub energy storage system for data centers
Super Micro Computer Inc. plans to raise $7 billion through a package of equity offerings to purchase the components needed to fulfill customers’ orders for the company’s artificial intelligence servers. The offering will consist of $5 billion in underwritten offerings and $2 billion in an at-the-market program, which would involve Super Micro selling shares directly into the open market from time...
Super Micro Computer Inc. plans to raise $7 billion through a package of equity offerings to purchase the components needed to fulfill customers’ orders for the company’s artificial intelligence servers. The offering will consist of $5 billion in underwritten offerings and $2 billion in an at-the-market program, which would involve Super Micro selling shares directly into the open market from time to time beginning “no earlier” than the third quarter, the company said Tuesday in a statement .
Signet Jewelers (NYSE: SIG) saw its stock rise on an otherwise unexceptional Tuesday for the market. Investors bid up the price of the jewelry retail conglomerate by nearly 3% after it revealed plans for a new, $50 million share repurchase program. In a regulatory filing published late on Monday, Signet disclosed that it has retained white-shoe investment bank Goldman Sachs to enact a $50 million ...
Signet Jewelers (NYSE: SIG) saw its stock rise on an otherwise unexceptional Tuesday for the market. Investors bid up the price of the jewelry retail conglomerate by nearly 3% after it revealed plans for a new, $50 million share repurchase program. In a regulatory filing published late on Monday, Signet disclosed that it has retained white-shoe investment bank Goldman Sachs to enact a $50 million accelerated share repurchase (ASR) program. Under this initiative, Goldman is to deliver approximately 480,000 of these shares to Signet. Image source: Getty Images. Continue reading