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Tuesday, November 10, 2026

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Sea Ltd Earnings Update: Q3 2026

Sea Ltd reported Q3 2026 revenue of $8.6 billion, up 43.4% year over year, while net income rose 34.0%.

SE $48B
SixSigmaCapital: Navigating the Financial Markets 3 clicks

From X

@convequity 3 clicks

Convequity on X

$NET's AI hosting is limited by the physics of its edge footprint and by the role of its products. Carrier-hotel sites built for fast network traffic are a different proposition from purpose-built AI datacenters. Cloudflare’s own engineering disclosures acknowledge power constraints, and management distinguishes its strategy from the hyperscalers’ GPU spending race. Our assessment starts with a two-H100-per-server edge configuration. H100 PCIe and NVL-class cards operate around 350–400 watts per GPU, versus up to 700 watts for H100 SXM. Hyperscalers commonly pack eight SXM GPUs into a machine and connect those machines into dense clusters. The distinction is power, cooling, memory bandwidth and GPU interconnects — not simply whether a model can run. The existing edge footprint cannot acquire hyperscaler-class cooling and power density through server upgrades. Dense, liquid-cooled Blackwell and Vera Rubin systems require a different infrastructure commitment. We see little chance that NET’s existing edge footprint becomes a competitive home for those dense clusters. For sustained, large-model inference, our assessment is that sparse edge GPUs cost more per token than dense AI clusters. Geographic proximity saves network transit time, but it does not guarantee a faster first token or a cheaper response. Greater compute capacity, faster interconnects and efficient batching can outweigh the edge’s network advantage. We expect heavy training, frontier-scale hosting and the most demanding next-generation inference to remain concentrated with hyperscalers. Workers AI’s progress with larger open models is real. Hosting those models does not establish an economic advantage over dense clusters. AI Gateway also lets customers route requests to external providers, matching the model and infrastructure to the task. Cloudflare can still win substantially. More agents mean more requests to secure, more Workers executions, more orchestration and more demand for fine-grained access controls. Those workloads build on infrastructure and capabilities Cloudflare already has. On the SaaS Survival Scorecard, we score $NET at 2.5 for Model-Layer Leverage. That reflects its substantial work building an agent harness across inference, orchestration and execution, while stopping short of model post-training and reinforcement learning.
@StableBread 1 click

Fajasy on X

My investing thesis in a nutshell (w/examples): 1) Buy with a strong margin of safety or stock price near/below cash and/or book value. 2) Buy in industries and/or markets where the money is flowing. Makes it a lot easier. 3) Buy the best early and/or the most overlooked in that particular industry. 4) Pay up for unfair advantages, excellent mgmt teams, and companies with huge latent pricing power. 5) Sell when the thesis breaks. Or a much better risk/reward setup hits your desk. Otherwise continue to add/hold. Don't track stock prices. Track the main business KPIs like any competent mgmt team would. Example #1: Bought $NBIS 4x mid $20's (best overall). Then bought $BRUN common and warrants pre-merger (most overlooked). Example #2: Bought $FTEK $1.39. Cash floor new excellent operator CEO. Strong upside potential w/data centers. Example #3: Bought $BABA $70's. Strong margin of safety, market leader, unfair advantages. Sold $170 for better risk/reward. Example #4: Bought $ELMT @$19 and @$14. Unfair advantage. Strategic. Cheap. Critical in strong growth industries. Example #5: Bought $TOST @$24. Beaten down due to macro headwinds and new/early $DASH competition. But almost everything in business stronger and expanding to new verticals. Lastly, if you're unsure or don't fully understand the business. Just say no. In fact, say no to most stocks. Most probably your best idea is already in your portfolio. Don't lockup your money in a 3/5 setup, you're trying to make outsized returns! And sub to my newsletter (link in bio) if you want my deep dives. 😉

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Research update

S&P Global research will assess Platts, Kensho and ratings growth; Benefit Systems’ 72% YTD rally changed its valuation, while Netflix and…

ICE $96B
Global Outperformers 3 clicks

The AutoNation Story

AutoNation shed rentals and megastores, focused on dealerships, and retired 91.1% of its shares through buybacks after its 1990s roll-up…

AN $5.9B
Cannibal Stocks 2 clicks

No title

SpaceX’s $24 billion Starbase power plant, Microsoft’s Oracle capacity cuts, Riot’s $72 billion AI lease and Quanta’s sell-off frame…

PWR $77BRIOT $6.6B
Monte Independent Investment Research 3 clicks

Insider activity October 2026

Asian insider buying reached $2.9 billion in October, the highest since 2018, with South Korea and Thailand leading.

BKRKY $23B
Asian Century Stocks 2 clicks

Quick Value #337 - Dana Inc (DAN)

Dana is combining with Eaton’s Mobility unit via a 1Q27 Reverse Morris Trust after selling a division, delevering and accelerating buybacks.

DAN $2.1B
Value Don't Lie 3 clicks

STRL: 80 new electricians a week

Sterling’s $4.1 billion backlog faces Texas permitting risk after a governor proposed a moratorium, while Connexion, Capital Asset Planning…

STRL $7.6B
Trade Ideas Flow 2 clicks

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