New Ask Claude or ChatGPT about any stock, using Bullpen. Bullpen in Claude or ChatGPT. 7 days free
Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Thursday, November 5, 2026

Back to the front page

From X

@ChrisCamillo

Chris Camillo on X

I don’t have differentiated alpha on the memory bubble debate, but one important perspective: Sell side reports projecting the memory supply/demand imbalance to peak in the next few quarters are number crunchers modeling today’s known AI use cases. The problem is AI’s biggest use cases may not exist yet. I’d rather bet on AI creating unforeseen demand than on a spreadsheet correctly predicting its known memory needs two years from now. $SNDK $MU
@convequity

Convequity on X

I do feel like people have cognitive dissonance here: Jeff Dean isn't only about the model application layer — he is the one who masterminded TPU, GOOG's incredible global distributed systems, and making efficient hardware + software actually work. The story isn't simply that models don't matter anymore for GOOG, that GOOG is all in on just AI infra as a more neutral player at the model layer, avoiding heavy investment that could get quickly depreciated by Chinese open source models because infra is the better business. It is simply that GOOG's current model effort is turning south at an accelerated speed. And they know this area is strategically important — otherwise Pichai wouldn't have fought so hard to keep Jeff and others from leaving. You can also excuse GOOG's strategic failure — not foreseeing this year's huge demand, not reserving enough TPU in-house for both model serving and training, and instead selling the capacity to Anthropic — as a smart move to profit from infra and shield away from model competition. It is just that GOOG's internal divisions don't collaborate with each other: the infra team sold out TPU to Anthropic this year in a negotiation done last year, while the model serving and training team never saw the demand coming and never worked that closely with the infra team. By the sheer fact that there are still people sugar-coating this story, I feel less confident about GOOG — although I am still quite bullish on its TPU and infra business. BTW, Anthropic is looking for building its ASIC with $AVGO directly, and also building and running its infra as well. Already they have pivoted away from directly renting GPU from GCP to hosting its TPU and building its kernel to juice up perf by 50% to 2X, and they will continue this optimization route just happening slower than OpenAI does.

Investor Letters

All letters

Trading Post November 5, 2026

MercadoLibre’s logistics expansion cut margins by 60 basis points, while Mercado Pago grew credit 62% with 7% NPLs.

MELI $77B
Cassandra Unchained 2 clicks

Intel: The CPU Comeback, Discounted

Intel's Q3 2026 results were hit by memory costs and an Israel shutdown, but enterprise AI inference could lift CPU demand as server…

INTC $287B
Monte Independent Investment Research 2 clicks

Problems at Twist Bioscience (TWST)

Twist Bioscience’s $200 rebound followed an Anthropic-linked short squeeze, yet its DNA and protein services face broad competition while…

TWST $8B
Hunterbrook 4 clicks

VSH Earnings Review

Vishay reported record Q3 revenue of $979 million, up 24%, and guided Q4 to about $990 million as rising backlog and margins contrast with…

VSH $3.6B
Cestrian Capital Research 3 clicks

Thursday Tailwinds #13: Nov 5, 2026

Florida marinas are 92% full as boat counts rise and permits constrain new supply, creating pricing power for existing operators such as…

SUI $14B
Trade Ideas Flow 8 clicks
CHWY · long

Chewy INC

Chewy (CHWY) is presented as a long opportunity after a prior 2022 short thesis played out.

CHWY $9.2B
Value Investors Club 6 clicks

Publications we follow

Every publication on this site, hand-picked.

129 publications

Newsletters 109

YouTube 4

Blogs 15

Seeking Alpha 78 of 281

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

360 firms

Sectors

Ordered by how often our editor reaches for them.