Beth Kindig

Is there room for one more in the Old Boys' Club? Stanley Druckenmiller: 4.61% Ray Dalio: 6.91% Bill Ackman: 9.44% I/O Fund: 15.50%

TSMC $TSM CEO C.C. Wei on US demand and accelerating Arizona fab construction: “We're seeing strong interest from our leading US customers and are working on speeding up the volume production schedule by several quarters to support their need.” $NVDA $AMD $AVGO $AAPL

Crypto’s total market capitalization recently surpassed $4 trillion, fueled by an altcoin rally and friendly regulatory policy. Bitcoin $BTC accounts for about 60% of the entire crypto market.

Broadcom $AVGO last week launched its Tomahawk Ultra networking chip built on TSMC’s $TSM 5nm node, offering ultra-low 250ns latency at 51.2T throughput. Broadcom says the switch can link together 4x as many chips as Nvidia’s $NVDA NVLink Switch.

IBM $IBM CEO Arvind Krishna: "Our generative AI book of business continues to accelerate and now stands at more than $7.5 billion." This is up from $6 billion in Q1.

ServiceNow's $NOW RPO grew 29% YoY to $23.9 billion, accelerating from 25% in Q1, while current RPO rose 24.5% YoY to $10.92 billion. $NOW also guided for Q3 subscription growth of 20-20.5% YoY to $3.26-3.265B. $CRM $AMZN $GOOG

ServiceNow $NOW reported revenue of $3.22 billion, up 22.5%, while adjusted EPS of $4.13 beat estimates for $3.57. Now Assist is "firmly on track" to reach its $1 billion ACV target by 2026. $CRM $MSFT $AMZN $GOOG

Tesla $TSLA says that it started initial production of a more affordable model in June, with volume production planned for the second half of this year.

Alphabet $GOOG capex was $22.45 billion in Q2, up 70% YoY, accelerating from 43% growth in Q1. Alphabet also boosted its capex forecast for 2025 from $75 billion to $85 billion. $AMZN $MSFT $NVDA $AVGO

Google Cloud $GOOG operating margin expanded significantly in Q2, up more than 9 points YoY to 20.7% as operating income rose more than 141% to $2.83B. $MSFT $AMZN

Alphabet $GOOG reported $2.31 in EPS in Q2, up 22% YoY, while revenue rose 14% YoY to $96.4 billion. Search revenue rose 12% YoY to $54.2 billion, while Cloud revenue accelerated 3 points to 32% YoY to $13.6 billion. $MSFT $AMZN

ServiceNow $NOW is expected to report 14.1% earnings growth to $3.57 in Q2, with revenue rising 18.6% to $3.12 billion. ServiceNow's Now Assist ACV contribution is expected to reach $1B by the end of 2026, up from $250M in May. $GOOG $AMZN $MSFT $CRM

Tesla $TSLA is expected to report a (22.2%) YoY decline in adjusted EPS to $0.40, while revenue is projected to decline (13.2%) YoY to $22.13B in Q2. Tesla said last quarter that it would revisit its 2025 guidance in Q2's update.

While Dell $DELL and others have likely started early production of Nvidia’s $NVDA Blackwell Ultra systems, larger scale shipments of the GB300 NVL72 are expected to ramp in September. $SMCI $AMD $CRWV

Alphabet $GOOG is expected to report 16.4% growth in EPS to $2.20 in Q2, with revenue rising 10.9% to $94 billion. Cloud growth is expected to be 27% YoY, while Search ads are expected to grow 9% YoY. $AMZN $MSFT $GOOGL

Robinhood $HOOD CEO Vlad Tenev said that nearly 100% of the company’s software engineers are using AI tools such as Cursor or Windsurf to write code, with nearly 50% of all code being AI generated. $GOOG $AMZN $MSFT $GTLB

OpenAI is working to integrate a payment checkout system into ChatGPT, and any merchants fulfilling orders via the checkout system will pay a commission to OpenAI. $MSFT $AMZN $GOOG

xAI has 230K GPUs, with 30K $NVDA GB200s, operational in its Colossus 1 supercluster for training Grok. At Colossus 2, Musk announced that the first batch of 550K $NVDA GB200s and GB300s will start going online in a few weeks.