Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Monday, October 19, 2026

Back to today

From X

@StableBread

Fajasy on X

From June 1 to October 16, Boost Run $BRUN fell 77.3%, vs. 37.4-58.7% for CoreWeave $CRWV, Nebius $NBIS, and $IREN. That drop in AI infra stocks is tied to to rising bets on another Fed rate hike. Higher rates hurt GPU clouds in two ways, since they (1) raise the cost of the debt that pays for their GPUs and (2) lower what investors will pay today for profits that arrive years later. But all three peers kept or raised their 2026 targets: → $CRWV: Raised its 2026 revenue guidance to $12.4-13.2B on its Q2 call. → $IREN: Raised its year-end ARR target to more than $4B on July 20. → $NBIS: Reaffirmed its 2026 guidance with its Q2 results. The problem is that lenders are charging more now. CoreWeave’s 9.625% notes due 2032 yielded 14.74% on October 16, up from 13.19% on October 1, meaning CoreWeave would likely pay ~15%/year to borrow the same way today. So the selloff came from how investors now see the cost of funding the demand for GPU clouds, not from the demand itself.
@gnoble79

George Noble on X

$CRWV IS THE MOST OBVIOUS SHORT The stock is down 41% since we shorted it at $107 in June, and it’s still one of our biggest shorts. While it cratered, Robinhood customers bought a record amount of it over 5 days, and that's not what you want to see if you're a bull. I think only a takeunder from Nvidia, meaning a buyout below today's price, keeps it out of bankruptcy. Investors are refusing to pay up for AI data centers: https://t.co/BNlSCTeNcI
@gnoble79 19 clicks

George Noble on X

This is not what you want to see if you are a $CRWV bull. $CRWV remains one of our biggest shorts. We are short from $107. Only a takeunder from $NVDA will prevent bankruptcy. Subscribe to the Noble Update to receive our best ideas. 67% YTD performance based on a diversified book of longs AND shorts. We have unrivaled performance. We have decades of experience. We are battled tested and have been through numerous market cycles. We have a process. While others chase narratives and charts, we focus on valuation and fundamentals. KNOW WHAT YOU OWN. YOUR ATTENTION TO THIS MATTER IS GREATLY APPRECIATED.

Investor Letters

All letters

Semtech Analyst Day Review

Semtech raised Q3 guidance and targets $3.2 billion of fiscal 2030 revenue, excluding upside from its AI data-center optical and copper…

SMTC $16B
CV's Substack 13 clicks
BAX · long

Baxter International INC

Baxter International sells IV solutions, infusion pumps and other essential medical products to hospitals, clinics and home-care providers.

BAX $13B
Value Investors Club

Boyz in the Hood

Robinhood’s AI agents, 24/7 equity trading and 10:1 crypto perpetual futures encourage higher retail trading velocity, leverage and…

HOOD $91B
WHAT ARE WE DOING? “Contrarians At The Gate” 1 click

Thursday Tailwinds #10: 8 Oct 2026

US aluminium tariffs, European glass automation and Foraco’s constrained drilling fleet create multi-year pricing tailwinds, with Century…

FSLR $19B
Trade Ideas Flow 3 clicks

Publications we follow

Every publication on this site, hand-picked.

128 publications

Newsletters 107

YouTube 4

Blogs 16

Seeking Alpha 52 of 241

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

90 accounts
Nominate an account

Investor letters we follow

189 firms

Sectors

Ordered by how often our editor reaches for them.