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Wednesday, November 11, 2026

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ON THE TAPE with Guy Adami

Guy Adami discusses Nvidia, Anthropic's IPO prospects, energy, gold and the AI trade.

NVDA $4.6T
WHAT ARE WE DOING? “Contrarians At The Gate” 2 clicks

From X

@aleabitoreddit

Serenity on X

This aged pretty well, when I said this last year in 2025, Clickhouse was a $6.7B company... Now as an update, their secondary valuation sits around ~$50B, which $NBIS owns 25%+ of. I've always liked Nebius the most because sum of parts, with all their lesser known subsidiaries growing alongside their core neocloud business. Including Avride (self-driving), Clickhouse, Toloka, and other subsidiaries that they owned. This year Nebius also acquired: - Tavily (web search and retrival) - Clarifai (Inference orchestration) Which scale independently as well (the others were integrated into Nebius Token Factory). Hard to view $NBIS as just another neocloud when it has billions in scaling value outside its core infrastructure business.
@KEDM_COM

KEDM.com on X

In June, Alphabet $GOOGL surprised the market by announcing the mother of all equity raises. The plan was to raise $80 billion, consisting of $15b in convertible preferred stock and $25b in common stock, followed by a $40b ATM set to start in Q3. The official reason was to fund AI Capex and pay taxes on employee stock compensation. The timing seemed obvious … they wanted to get ahead of a liquidity crunch as SpaceX $SPCX, OpenAI, and Anthropic lined up their IPOs. SpaceX went public in June, and Anthropic’s November IPO could raise up to $64.4b, with shares expected to start trading on Nasdaq as $ANT on November 19. We recently wrote about how the typical IPO underperforms by ~20% on a 3-year horizon. This effect was more pronounced when companies were unprofitable, resulting in an average underperformance of 30%. Companies like $SPCX are not set up for patient buy-and-hold investors. Index providers waived the profitability requirement and cut the seasoning window from 90 days to 5. Passive investors will be forced to buy shares just after the initial IPO pump, and just before the accelerated unlock. There’s a 200-year history of finance bros dumping on retail. SpaceX simply figured out how to do it at scale.
@StableBread

Fajasy on X

The FTC and eight states sued Toast $TOST, the restaurant software and payments company, on October 29, the day after its President and CFO Elena Gomez gave notice. The complaint alleges $TOST: → Enrolled restaurants in subscription add-ons they didn’t agree to. → Charged an undisclosed early termination fee of $150 for each month left on a contract. → Added a $0.99 fee to some online orders over $10 from September 2021 to July 2023, money that went to Toast rather than the restaurants. → Required 30 days’ written notice to cancel without clearly disclosing it, and treated a cancellation as a default on any Toast Capital loan, making the full balance due at once. → Advertised “24/7/365” support that customers say they couldn’t reach. The 10-Q says $TOST will “vigorously defend its interests” and can’t yet estimate a possible loss. CEO Aman Narang argued on the Q3 call that ROSCA (the Restore Online Shoppers’ Confidence Act, a federal law on online subscriptions) was never meant for negotiated business contracts: “If ROSCA were to apply to B2B custom-negotiated contracts in a B2B context, it would have huge implications for really the whole industry and business contracts in general.” He also said $TOST had been cooperating with the FTC “over the past year” before it sued, and that “how we settle the suit” won’t change Toast’s long-term path. With $1.89B of cash and marketable securities and no debt, $TOST can afford a fine, so the bigger risk to me is an injunction that could possibly change how it sells, prices, and cancels contracts.

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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 4 clicks

Airbnb 3Q26: Business Update

Airbnb’s 3Q26 revenue rose 19% to $4.9 billion as nights and seats grew 16%, with app bookings up 29% and Reserve Now Pay Later adding…

ABNB $111B
Speedwell Memos 2 clicks

Thoughts on PayPal Buyout Offer

PayPal faces a $60.50-per-share buyout offer from Stripe and Advent, with a rejection or counteroffer above $80 viewed as more likely.

PYPL $49B
Hidden Rock Capital's Newsletter

Rebound Watchlist: July 2026

Rebound Capital's July 2026 watchlist puts AeroVironment and Coinbase under review after UnitedHealth rose more than 70% from its low.

COIN $35B
Rebound Capital

New Position: Volatility Merchant

A digital market-infrastructure platform dominant in rates and expanding in credit trades at 22 times free cash flow, with 45%+ FCF margins…

TW $30B
Aurelion Research

WhatsApp's New Era

WhatsApp named CRED founder Kunal Shah to replace Will Cathcart after Meta bought a 20% CRED stake for $900 million, signaling a push to…

META $1.6T
MBI Deep Dives 1 click

THE MEMORY MACHINE

Samsung, SK Hynix and Micron face an antitrust suit alleging coordinated memory supply cuts drove contract prices up 697% since late 2024…

MU $930B
Kakashii's Materials

Artificial Bloom

Bloom Energy’s AI data-center fuel-cell growth plans face scrutiny over scandium supply, with Hunterbrook alleging China dependence and…

BE $52B
Doomberg 1 click

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