AI still leads, but software is starting to make this interesting

AI infrastructure is still the strongest theme we can find. $NVDA’s latest results only reinforced that. Revenue hit $96.2B, Data Center came in at $89B, margins stayed around 75%, and next-quarter guidance is roughly $108B. So no, the AI buildout does not look dead. What has changed is what is happening one layer above it. Enterprise AI software is now the strongest challenger. $PLTR is already showing what this can look like when AI actually turns into serious revenue and cash flow, and $CRM is starting to show the same kind of monetization through Agentforce and Data 360. That matters because software can capture a lot of AI value without needing another small country’s whole electricity supply and a mountain of debt to build it. 😂 The part we are still watching closely is the financing side of all this infrastructure. $NBIS has now completed $5.75B of convertible financing, while $NVDA itself is getting more involved with investments, credit support and customer financing across the AI ecosystem. That does not make the demand fake. The demand still looks enormous. But eventually all these data centres need to prove that the money going in produces enough money coming back out. For now, the current Asymmetric_Growth portfolio stays exactly as it is. We already have heavy exposure to the physical AI stack, enterprise AI, defence, space and digital finance, and nothing outside the portfolio currently looks strong enough to justify replacing what we already own. The most interesting shift for us is software. AI hardware still wears the crown, but software has definitely pulled its chair a lot closer to the throne.

Ahh Fridays

Friday sell off as expected see you all next week at 230, have a good weekend enjoy yourselves.

The reason for the drop

Apparently it's due to antitrust concerns. Semiconductor giant Nvidia $NVDA has halted some deals under its new financing program that offers credit to AI cloud providers in exchange for a share of revenue. The company is rethinking this initiative, the Wall Street Journal reported. Nvidia reportedly stepped back from the program, called AI Compute Partnership, last week, less than two months after announcing it in July.

This market has the attention span of a goldfish

One day $NVDA rips after earnings and everyone suddenly remembers AI is alive. The next day yields move, rate expectations change, and half the market starts giving it back again. That has basically been August in a nutshell. We’ve had semiconductors getting slapped, software suddenly looking stronger, defence and other themes taking turns, then $NVDA comes out with monster numbers and drags tech straight back up again. It’s messy, but messy doesn’t automatically mean something is wrong. Our latest monthly market research still has AI infrastructure comfortably at number one, and nothing we’ve seen so far has given us a reason to start messing with Asymmetric_Growth just because the market can’t make its mind up for more than 24 hours. Some weeks the smartest thing the system can do is simply stop us from becoming the guy who rearranges his entire portfolio every time the market changes its mood. For now we’re just letting it have its little tantrum. 😅

Warsh

WarshioBoy hawkish, market gets skitty, over cooks down stop losses hit. Next week back to ATH.

The green machine

Who held with me there hopefully the bravery pays 🍀🍀🍀

What’s everyone’s average?

Mine is $160 didn’t lump in tho sadly. What’s everyone else’s

$248-$249 per share

For Nvidia to be the first $6T company the share price needs to be around $248-249 another 8.5% or thereabouts increase from current price

Where is the guy who said it was falling to 160-180?🤡💀

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