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Wednesday, October 21, 2026

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@ActAccordingly 5 clicks

PAA Research on X

One mantra rules everything right now in the AI space: BE FIRST! $SPCX pulled forward its earnings release date, $META rushes to form a new class of shares, and we'll see what the other hyperscalers have to say in the next 7-10 days. The Anthropic bankers cannot be happy with this disclosure from $META's new share class filing tonight (so many jewels in this document, it's a must read): "The Special Committee also recognized that timing is important to secure capital before competitors saturate various funding options. Recent significant capital raises at other notable companies, and others soon anticipated to take place, to fund the same AI growth—for example, Alphabet, SpaceX, Anthropic, and OpenAI—have resulted in an increasingly challenging environment for raising capital. The Special Committee considered that, while the Company presently has sufficient capital resources for its current needs, in order to finance its funding needs going forward it would be prudent for the Company to do so before even more companies have absorbed available capital in the market." https://t.co/yVUhuq7dLb
@aleabitoreddit 3 clicks

Serenity on X

$NVDA today announces capacity agreements with substrate, packaging, testing and optical engine suppliers. - Substrate agreements with Ibiden, Samsung Electro-Mechanics and Unimicron to expand by 2.5x - $AMKR to increase advanced packaging capacity by more than 300% by the end of 2028, with a new $1.3B agreement - Multibillion dollar capacity reservation advance to support Ibiden's plant in Japan - "By 2028, production allocated to $NVDA is projected to account for a significant portion of Samsung Electro-Mechanics' total annual package substrate production capacity" - KYEC with $1.1B capacity reservation in advance - SPIL for optical engine capacity for CPO by 15x by H2 2027 and double that for 2028 Well, that's a lot of news. As Jensen Huang puts it: "Demand is extraordinary. Capacity is the constraint."
@leevalueroach 4 clicks

Lee Roach on X

$META financing capex through an equity raise that keeps the super voting shares in tact has me still on the ground rolling and laughing like an idiot. This is shit you would see out of a microcap crapco. Not a high flying “tech” company. Getting a lot of hate for talking shit. Because apparently Meta has to do this or they will “die”. I fail to see how an addictive social media platform that’s worse than smoking cigarettes is going to die by skipping out on this massive capex AI cycle. My god.

Investor Letters

All letters

Eli Lilly And Co. (LLY)

Eli Lilly's Mounjaro and Zepbound drove 2025 revenue to $65.2 billion as the drugmaker expands AI partnerships with Nvidia, Isomorphic…

LLY $1.2T
SixSigmaCapital: Navigating the Financial Markets 25 clicks

Why I sold OB pick for 26 SVM

Silvercorp’s falling Ying grades, prolonged GC suspension, El Domo execution risk and Chaarat funding needs weaken its valuation despite…

SVM $2B
The Oak Bloke 27 clicks

Vicor Update, Part Three

Vicor’s $66.6 million in AI power-delivery royalties generated about $50 million of operating profit, eclipsing its module business as…

VICR $9.7B
CV's Substack 28 clicks
DASH · long

Doordash INC

DoorDash holds roughly 60% U.S. market share in on-demand restaurant logistics, underpinning a long thesis on its defensible delivery…

DASH $81B
Value Investors Club 1 click

Solitron Devices (SODI)

Solitron Devices' $27.5 million backlog rose 124% year over year as its sole-source military semiconductors support AMRAAM and HIMARS,…

SODI $78M
Underlying Value

Doubling Down on Iran and OXY

Occidental Petroleum is positioned for oil above $80, with a prolonged Iran conflict and Gulf supply shut-ins pushing prices into triple…

OXY $63B
Open Insights

TIC Solutions: Thesis Check

TIC Solutions' NV5 merger lifted consulting and geospatial growth and margins, while its 52%-of-revenue inspection unit stayed flat after…

TIC $1.9B
Kairos Research

NFE Bond Update

New Fortress Energy’s restructuring cancels its 12% 2029 notes for 94.3% of BrazilCo, $974 million of New NFE preferred and 25.8% of New…

NFE $58M
Triple S Special Situations Investing 2 clicks

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