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 $43B
- Sound Shore Management third quarter of 2026 BP $125BLUV $21B
- Curreen Capital July–September 2026 CLVT $1.4BAAP $2.9B
- Aristotle Funds third quarter of 2026
- Troy Asset Management No. 90 2026
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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
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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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CNR · long Core Natural Resources INC
Core Natural Resources is a US metallurgical and thermal coal producer formed in January 2025 through the merger of CONSOL Energy and Arch…
Thoughts of the Week - June 28, 2026
OpenAI and Anthropic's IPO ambitions collide with AI-driven memory shortages that Apple says are forcing product price increases.
A Growing Business at a Discount to Its Own Cash
GrabAGun’s $68 million market capitalization sits below $98.5 million net cash, while PEW Logistics and ammunition subscriptions target…
$FOX dropped 25% buying $ROKU. Is the market wrong? | Simeon McMillan, Accrued Interest
Fox’s $22 billion Roku deal cut FOXA 25%, but Simeon McMillan argues Roku’s streaming-TV reach, advertising upside and synergies make the…
Under The Hood, Wingstop Inc. ($WING)
Wingstop generates most of its $697 million revenue from franchise royalties across a 3,153-restaurant, 98%-franchised system while…
Staying the course on H&R REIT
H&R REIT’s renewed talks with Blackstone cover some assets, following office and U.S.
Tidewater (TDW): a first-pass look
Tidewater’s $22,600 average day rate and $598 million FY2025 EBITDA rest on an aging OSV fleet, scant newbuilds and fleet acquisitions…
The Biggest Bull Signal On Entravision
Entravision’s lost Meta relationship reset its business model, setting up a bullish case for the company’s recovery.
Micron's Blowout and the Case for a Memory Supercycle
Micron's $41.5 billion fiscal Q3 revenue and 84.9% gross margin fuel a memory supercycle case, with AI-driven DRAM and NAND shortages…
SAP: DCF Valuation
SAP’s DCF valuation sets a $260 base-case target versus a $155.09 ADR price, based on cloud migration, AI efficiencies and expanding EBIT…
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