Anthropic’s Growth is Slowing: Is AI Capex Next? | The Weekly Wrap
Anthropic’s revenue growth slowed from 147% in Q2 to 45% in Q3, raising questions about AI capital spending as Amazon holds capex flat.
Friday, October 30, 2026
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Look at $FDXF. A month of underperformance based on “channel checks,” followed by a ~15% move and multiple analyst upgrades after a single session (catalyst day). https://t.co/X81f5cl6Eh https://t.co/FfwGWZlciQ
Barbarian Capital on X
Starbucks sales miss expectations, but its U.S. turnaround is gaining steam $SBUX https://t.co/kPufTMV5zS
Barbarian Capital on X
Reddit stock plunges 30% after weak outlook, heads for worst day ever $RDDT https://t.co/aemPgp56rc
Barbarian Capital on X
BP’s profits surge to new record on high fuel prices $BP https://t.co/bUl30Vb4Ti
DOMO Capital Management, LLC on X
Woah, massive $PESI news out tonight... DOE breaks ground on new cleanup system at Hanford Site - Elkhorn Media Group https://t.co/jYZklPDW4S
SouthernValue on X
Meanwhile @OpenAI pulled IPO and can barely get its latest funding round off. $META and $GOOG will win consumer AI. https://t.co/eqJPtwTTwh
SouthernValue on X
What year will $MSFT take @OpenAI into receivership?
Barbarian Capital on X
CD&R pursues buyout of $40 bn card processor Global Payments $GPN https://t.co/Wil5Zf6xn7
Investor Letters
All letters- Artisan Partners Q3 2026 HDLMY $32BIQV $45B
- Sound Shore Management third quarter of 2026 BP $125BLUV $21B
- Curreen Capital July–September 2026 CLVT $1.1BAAP $2.9B
- O'Keefe Stevens Advisory Q3 2026 OCTV $5.7BAMZN $2.6T
- East 72 Period to 30 September 2026 BOIVF $12BAVOL $8.1B
- Broyhill Asset Management third quarter 2026 CACI $15BGOOGL $3.4T
- Fairtree Asset Management Q3 2026 SSL $11B
- Alluvial Capital Management Third Quarter 2026 BSVN $565MFTLF $75M
SNY Earnings Review
Sanofi raised FY26 guidance after Q3 sales grew 14.3% at constant currency, led by 34.8% Dupixent growth; vaccines declined 6.6%.
SK hynix: Despite Their Premium To The Korean Shares, The U.S. ADRs Are A Bargain
SK hynix's U.S. ADR trades at a valuation discount despite AI-driven memory demand, with 50% of 2027–2028 capacity under long-term…
Adam Schadt 2 clicks
Bloom: Chinese Scandium Supply Route Restarts
Bloom may have reopened imports of scandium-containing components from China to the United States, according to new trade data.
Amazon 3Q’26: Trillion Dollar Talks
Amazon projects AWS growth above 40% through 2028 while funding a $220 billion capex plan with rising debt and an $80 billion equipment…
TSOH Weekly Roundup (10/30/2026)
Markel spent $315 million repurchasing shares in Q3 as Thrive agreed to buy ADT for $7.6 billion and Hasbro cited rising adult toy demand.
Alphabet's Post-Earnings Selloff Is The Best Buying Opportunity In Years
Alphabet's Google Cloud operating income more than tripled to $11.1 billion, while EPS fell 26% on a $2.76 billion SpaceX paper loss.
Rick Orford 5 clicks
Earnings Review: $AMZN and $LLY
Amazon’s AWS revenue grew 39% to $46B as capex drove negative FCF; Lilly raised 2026 guidance to $91-92B on GLP-1 volume growth.
Wall Street Erased $16 Billion From a Legal Monopoly Over an AI Myth.
Verisk Analytics’ 40 petabytes of proprietary insurance data and regulatory infrastructure shield its underwriting business from generative…
Alphabet: Don’t Search for a Straight Line in Innovation
Alphabet’s Q3 2026 cloud growth stayed strong while Search revenue growth slowed to 12%, with higher AI capital spending driving negative…
Tango: Upgrading 'Buy' Based On ESMO 2026 Vopimetostat PDAC Data And Pathway Advancement Clarity
Tango Therapeutics reported an 82% response rate and 88% nine-month PFS for vopimetostat plus RASONQUE in RAS-mutant pancreatic cancer,…
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EUXTF · long Euronext NV
Euronext has evolved from a regional cash-equities exchange into a pan-European market-infrastructure platform after a decade of technology…
Lululemon: Deep Dive Analysis
Lululemon’s Q2 revenue fell 4% and Americas comparable sales 12%, as markdowns, tariffs and activewear rivals pressure its premium apparel…
P&C Stocks Worth Owning: The AI Hedge with Ryan Tunis | The Real Eisman Playbook Episode 74
Ryan Tunis discusses P&C insurers, favoring Travelers over Chubb in a soft commercial market and calling AIG a near-book-value self-help…
Pinterest: Underlying Growth Remains Stronger Than The Market Thinks
Pinterest’s Q2 showed reaccelerating North American growth, while weaker international trends, AI-related engagement risks and elevated…
Richard Durant 2 clicks
Lasers for CPO/NPO: Part 3 – Master Oscillator, Power Amplifier
MOPA lasers combine a roughly 100 mW seed diode with an integrated semiconductor optical amplifier to produce about 400 mW for co-packaged…
WD #357: Tecnoglass/Tariffs, Colombia Mining Boom?, Airports & Airlines
Tecnoglass could recover tariff- and FX-hit margins as U.S. blanket tariffs on Colombian goods lift.
Scholar Rock: Manufacturing Noise Obscures A Muscle-Targeted Franchise
Scholar Rock’s apitegromab could become the first muscle-targeted SMA therapy by September 2026, but manufacturing setbacks and a…
Equity Eagle A quick update on Deep Dives
MBI Deep Dives will update prior company analyses through year-end, beginning with Uber, while deferring new work on Micron and S&P Global.
The Quality Check #1
The Quality Check #1 reviews recent developments at Arista, Cummins, Veeva, ServiceNow and AppLovin following earnings season.
lululemon: An 18% Crash Is Not A Buy Signal
Lululemon’s Americas revenue fell 8% and comps dropped 12%, while a $134.5 million tariff refund masked weakening underlying margins after…
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