The race to sell retail investors a piece of the AI boom has gone mainstream — closed-end funds, interval funds, special-purpose vehicles . Now, crypto platforms are offering trades tied to the most valuable private AI companies on earth — ones ordinary investors have almost no other way to access. The result is a new frontier in the financialization of private markets: crypto infrastructure, once...
The race to sell retail investors a piece of the AI boom has gone mainstream — closed-end funds, interval funds, special-purpose vehicles . Now, crypto platforms are offering trades tied to the most valuable private AI companies on earth — ones ordinary investors have almost no other way to access. The result is a new frontier in the financialization of private markets: crypto infrastructure, once the domain of digital token speculation, being redeployed to give traders a way to bet on Anthropic, OpenAI and SpaceX — in real time, 24 hours a day, with leverage. Ventuals and PreStocks, two crypto venues riding that shift, have seen their trading activity — measured by open interest and market value combined — surge more than threefold since the start of the year to last month. Major crypto exchanges have also begun listing pre-IPO assets, broadening the reach of these instruments to tens of millions of users. Trade.xyz, a crypto derivatives platform on the Hyperliquid blockchain, is also joining in. Traders have pushed the implied valuation of Anthropic alone to $1.6 trillion across Ventuals and PreStocks, double what investors assigned the company in its most recent funding round. The figures reflect speculative positioning, not transactions in actual equity. None of it confers real ownership, and the two platforms work differently. Traders on Ventuals, which is backed by investment firm Paradigm, are speculating on valuations via perpetual futures — derivatives with no asset backing, no expiration date, and no anchor to any actual share transaction. PreStocks takes a different approach: its tokens are minted one-to-one against SPV exposure intended to track real shares on secondary markets. That gives holders a stake in a vehicle that purports to hold the underlying equity, though Anthropic has explicitly warned those structures may carry no legal value and that the company treats them as void. Those SPVs are sourced through a network of funds and brokers, said Xavi...
(Bloomberg) -- The race to sell retail investors a piece of the AI boom has gone mainstream — closed-end funds, interval funds, special-purpose vehicles. Now, crypto platforms are offering trades tied to the most valuable private AI companies on earth — ones ordinary investors have almost no other way to access.Most Read from BloombergChina’s Unprecedented Defiance of US Sanctions Triggers Showdow...
(Bloomberg) -- The race to sell retail investors a piece of the AI boom has gone mainstream — closed-end funds, interval funds, special-purpose vehicles. Now, crypto platforms are offering trades tied to the most valuable private AI companies on earth — ones ordinary investors have almost no other way to access.Most Read from BloombergChina’s Unprecedented Defiance of US Sanctions Triggers ShowdownUS and Iran Trade Fire in Gulf, Jolting Four-Week-Old CeasefireFormer NYC Mayor Giuliani in Critica
(Bloomberg) -- The race to sell retail investors a piece of the AI boom has gone mainstream — closed-end funds, interval funds, special-purpose vehicles. Now, crypto platforms are offering trades tied to the most valuable private AI companies on earth — ones ordinary investors have almost no other way to access.Most Read from BloombergUS Has Opened a Passage Through Hormuz, Central Command SaysChi...
(Bloomberg) -- The race to sell retail investors a piece of the AI boom has gone mainstream — closed-end funds, interval funds, special-purpose vehicles. Now, crypto platforms are offering trades tied to the most valuable private AI companies on earth — ones ordinary investors have almost no other way to access.Most Read from BloombergUS Has Opened a Passage Through Hormuz, Central Command SaysChina's Unprecedented Defiance of US Sanctions Triggers ShowdownUS and Iran Trade Fire in Gulf, Jolting
Vladimir Putin wants empty skies on Friday and Saturday to celebrate Victory Day; Ukrainian president says guns can fall silent by Wednesday if Russia reciprocates. What we know on day 1,532 Continue reading...
Vladimir Putin wants empty skies on Friday and Saturday to celebrate Victory Day; Ukrainian president says guns can fall silent by Wednesday if Russia reciprocates. What we know on day 1,532 Continue reading...
(RTTNews) - The Hong Kong stock market has finished higher in two of three trading days since the end of the two-day slide in which it had slumped almost 300 points or 1.2 percent. The Hang Seng Index now rests just beneath the 26,100-point plateau although it may be stuck in neu
(RTTNews) - The Hong Kong stock market has finished higher in two of three trading days since the end of the two-day slide in which it had slumped almost 300 points or 1.2 percent. The Hang Seng Index now rests just beneath the 26,100-point plateau although it may be stuck in neu
The independent committee tasked with investigating Hong Kong’s deadly Tai Po blaze has finished 21 sessions of evidential hearings in three rounds, pointing to multiple apparent loopholes in the supervision of the estate’s renovation project and the government’s regulation of fire hazards. The inferno broke out on November 26 last year when all eight blocks at Wang Fuk Court were undergoing exter...
The independent committee tasked with investigating Hong Kong’s deadly Tai Po blaze has finished 21 sessions of evidential hearings in three rounds, pointing to multiple apparent loopholes in the supervision of the estate’s renovation project and the government’s regulation of fire hazards. The inferno broke out on November 26 last year when all eight blocks at Wang Fuk Court were undergoing exterior maintenance work and were covered in scaffolding and mesh netting. The fire tore through seven...
Donny DBM/iStock via Getty Images Key Points ▶ Operation Epic Fury was not in our script, but it was in our framework. We anticipated significant H1 headwinds for US equities; the Iran war precipitated and dramatized a correction that was always probable—without transforming it into a bear market. ▶ The ceasefire of April 8 was judged a buy signal not because it resolved anything, but because it t...
Donny DBM/iStock via Getty Images Key Points ▶ Operation Epic Fury was not in our script, but it was in our framework. We anticipated significant H1 headwinds for US equities; the Iran war precipitated and dramatized a correction that was always probable—without transforming it into a bear market. ▶ The ceasefire of April 8 was judged a buy signal not because it resolved anything, but because it transformed the conflict's character—moving it from uncontrolled escalation into structured negotiations, the highest-level US-Iran engagement in more than a decade. ▶ The bear market narrative has remained dormant for one reason: earnings resilience. AI-led capex, fiscal support from the OBBBA and the reindustrialization cycle underpin a 2026 profit cycle that the exogenous shock has not derailed. ▶ Few factors have proven more consequential for equity behavior than US presidential pronouncements. Trump's commentary and policy activism have driven both the five best and five worst trading days of his second term—volatility is the operating method. Investors must adapt. Another Year of Upheaval The Calamos Phineus Long/Short Fund ( CPLIX ) declined 3.6% in Q1 (Class I shares at NAV) versus a 4.6% price decline for the S&P500 Index. The Iran war will likely be the defining event of 2026, but any interpretation requires two perspectives. The nature of the shock is only half the story—at least as important is the context in which it arrived. Today's reflationary regime was already narrowing the path for risk assets. Iran is the amplifier, not the cause. The Fund maintained modestly positive net equity exposures through Q1, but this understates the conviction behind our defensive posture. Through February and March, combined short exposure and notional option protection matched 100% of NAV—a deliberate response to a backdrop we characterized as peak reflation, and to a geopolitical trajectory whose tail risks were multiplying. The April 8 ceasefire announcement was judged a buy ...
Eli Lilly (NYSE: LLY) continues to prove the doubters wrong. Despite fears that the company's shares are overvalued, and that stiff competition in the GLP-1 market will eventually catch up to the drugmaker, Eli Lilly posted yet another excellent performance during the first quarter that breathed new life into the stock. Eli Lilly's shares jumped by about 10% after its earnings release on April 30....
Eli Lilly (NYSE: LLY) continues to prove the doubters wrong. Despite fears that the company's shares are overvalued, and that stiff competition in the GLP-1 market will eventually catch up to the drugmaker, Eli Lilly posted yet another excellent performance during the first quarter that breathed new life into the stock. Eli Lilly's shares jumped by about 10% after its earnings release on April 30. However, Eli Lilly's shares are still down by 10% to date, and at current levels, it isn't too late to invest in the company. Here are three reasons why. Image source: The Motley Fool. In the first quarter, Eli Lilly's revenue of $19.8 billion grew by 56% year over year. Top-line growth rates of this caliber are exceedingly rare for major pharmaceutical companies , but not so much for Eli Lilly. The company's sales have consistently increased at an incredible clip over the past couple of years compared to those of its similarly sized peers. Continue reading
New York Parole Bills Could Free Some Of The State’s Most Notorious Killers Two parole reform bills advancing in New York are triggering intense debate, with supporters calling them long-overdue criminal justice reforms and critics warning they could allow violent offenders to leave prison early, according to the NY Post . One proposal, known as the Elder Parole bill, would allow incarcerated indi...
New York Parole Bills Could Free Some Of The State’s Most Notorious Killers Two parole reform bills advancing in New York are triggering intense debate, with supporters calling them long-overdue criminal justice reforms and critics warning they could allow violent offenders to leave prison early, according to the NY Post . One proposal, known as the Elder Parole bill, would allow incarcerated individuals to request parole hearings once they reach age 55 and have served at least 15 years of their sentence. That eligibility would extend to some inmates serving life sentences, and those denied parole could reapply every two years. The second proposal, Fair and Timely Parole, would change how parole boards evaluate inmates by placing greater focus on whether someone currently poses a risk to public safety instead of heavily weighing the original crime. Backers say the current system often ignores evidence of rehabilitation and keeps people incarcerated long after they have changed. The NY Post writes that advocates argue older inmates are far less likely to commit new crimes and are expensive to keep in prison as they age. Release Aging People in Prison has pushed for both measures, saying elderly inmates who have taken accountability for their actions deserve a meaningful chance at release. “The evidence is clear that forcing completely rehabilitated elders to spend their final years in prison costs a fortune and delivers zero public safety benefit,” said Olivia Murphy of the organization. Opponents, however, say the bills could have dangerous consequences. Critics point out that inmates convicted in some of the state’s most infamous cases — including David Berkowitz and Mark David Chapman, who murdered John Lennon — could potentially become eligible for release. Raphael Mangual of the Manhattan Institute argued that rehabilitation in prison should not erase the severity of violent crimes. “It really shouldn’t matter how well somebody behaves in prison. You should have...
Live cattle futures settled with $1.25 to $2 losses across most contracts on Monday. Cash trade from last week started at $250-252 across the country and worked up to $256-257. Feeder cattle futures were down $4.80 to $6.02 on the day, pulling nearly $2 off midday losses. The CME Feeder...
Live cattle futures settled with $1.25 to $2 losses across most contracts on Monday. Cash trade from last week started at $250-252 across the country and worked up to $256-257. Feeder cattle futures were down $4.80 to $6.02 on the day, pulling nearly $2 off midday losses. The CME Feeder...
Earnings Call Insights: Palantir (PLTR) Q1 2026 Management View “The last 3 months have been some of the most exciting in the history of Palantir” as “the whole world begin[s] to see the incredible promise of operational AI” (Chief Revenue Officer & Chief Legal Officer Ryan Taylor). Taylor said the quarter included “85% year-over-year revenue growth” and that “Our U.S. business, now 79% of total r...
Earnings Call Insights: Palantir (PLTR) Q1 2026 Management View “The last 3 months have been some of the most exciting in the history of Palantir” as “the whole world begin[s] to see the incredible promise of operational AI” (Chief Revenue Officer & Chief Legal Officer Ryan Taylor). Taylor said the quarter included “85% year-over-year revenue growth” and that “Our U.S. business, now 79% of total revenue, surpassed 100% year-over-year growth… growing 104% year-over-year,” while “Our Rule of 40 score climbed to 145%” and he positioned AIP as “the only platform that establishes a true AI no slop zone” (CRO & CLO Taylor). “The single most important dynamic in enterprise software right now” is that “models are converging and the cost per token continues to drop precipitously,” with “GPT-4 equivalent performance… now approximately 1,000x cheaper” (CTO & Executive VP Shyam Sankar). Sankar said Palantir is “building a platform-native agent engine SDK” with “unified cost attribution per agent… full provenance” and controls including “approval gates,” adding, “That’s how you get a CISO, a CFO and a combatant commander to say yes” (CTO Sankar). “First quarter revenue grew 85% year-over-year… to $1.633 billion,” and the company said it is “raising our full year 2026 revenue guidance midpoint to $7.656 billion… our largest ever full year revenue guidance raise” (CFO & Treasurer David Glazer). Glazer reported “GAAP earnings per share was $0.34” and “adjusted free cash flow… $925 million,” and added, “we continue to expect GAAP operating income and net income in each quarter of this year” (CFO Glazer). CEO Alexander Karp framed the quarter as product-driven: “the most important thing about our earnings is it establishes beyond a doubt” that “the current environment is actually being transformed by the Palantir platform,” while emphasizing constraint: “our biggest problem currently is demand in the U.S. I believe we will have 100% growth in the U.S. is that we just cannot meet dema...