∞ALPHA

The era of "asset-light" tech is shifting toward massive physical infrastructure. According to the Financial Times, the AI arms race has triggered a historic spending spree that is shredding the free cash flow (FCF) of the world’s largest companies. The Numbers The Spend: Amazon, Alphabet, Microsoft, and Meta have poured a record $725 billion into AI. The Drop: Combined FCF for these "hyperscalers" is projected to plummet to $4 billion this quarter—a massive dive from the pos

Software is rebounding: IGV ETF up 14% in a month, ending a long slump. AI fears easing: Investors worried AI would kill SaaS, but momentum is improving. JPMorgan sees breakouts: Software now less correlated than semis; several names breaking out of multi‑week bases. Leaders: Oracle +35.5% past month Microsoft +12% past month Palo Alto Networks +10% this month CrowdStrike +13% this month Sector context: Still down 14% YTD, but technicals suggest a potential trend reversal. JP

For decades, the memory-chip industry was the roller coaster of the tech world—defined by brutal cycles of feast and famine. However, according to a recent report from the Wall Street Journal, the rise of Artificial Intelligence has fundamentally altered the landscape, sending profit margins and market valuations into uncharted territory. Here are the key takeaways from the industry’s massive structural shift: 1. Unprecedented Profitability Memory manufacturers are currently

JPMorgan, Goldman Sachs, Morgan Stanley, Citi, and Bank of America are expected to report over $40bn in Q1 trading revenue. This would be the highest combined quarterly trading revenue since at least 2014, Representing a 13% YoY increase.

Piper Sandler downgrades $NKE to Neutral ($50 PT). Key concerns: 👟 Lack of innovation to fill the "Classics" void. 🧘‍♂️ Saturated athleisure market at "peakish" levels. 🏃‍♂️ Approaching tough year-over-year comps in running. Piper thinks $NKE still is not "cheap."

Zeta Global (ZETA) is an omnichannel data-driven cloud platform that provides consumer intelligence and marketing automation software. Major Products: The Zeta Marketing Platform (ZMP) and Zeta Alpha (its Generative AI orchestration layer). Core Asset: A proprietary Identity Graph containing over 245 million unique U.S. consumer profiles and trillions of intent signals. The "Moat": Unlike "wrap-around" AI companies, Zeta owns the underlying data (1st party) and the act

Intrinsic Valuation Focus : Determines the inherent value of a company based on its fundamentals (e.g., discounted cash flows)....

Relative valuation involves estimating the value of an asset by comparing it to the market prices of similar assets, typically using...

The Little Book of Valuation by Aswath Damodaran (2024) is a concise guide aimed at investors who want to sharpen their skills in valuing...