AI CapEx is EXPLODING:
AI CapEx is now growing at a Compounded Annual Growth Rate (CAGR) of ~22%.
This is DOUBLE the overall CAGR of CapEx spend for S&P 500 companies.
Furthermore, AI now accounts for nearly ~40% of S&P 500 CapEx spend.
The AI Revolution is just getting

This is unprecedented:
On August 22nd, President Trump announced that the US took a 10% stake in Intel, $INTC, worth ~$11 billion.
Today, 27 days later, NVIDIA made a massive investment in Intel, sending the US' position +$5 BILLION higher.
What just happened?
(a thread)

The Kobeissi Letter

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Institutions are the driving force behind this market cycle.
The four major cryptocurrencies—BTC, ETH, SOL, and BNB—have all hit new highs, but only BTC and BNB have continued to rise by over 40% since breaking through their all-time highs. SOL achieved a breakthrough earlier this year thanks to Trump's coin issuance, while ETH experienced a revaluation mid-year driven by DAT buying, though neither has yet reached a new high.
The Federal Reserve cut interest rates last night. How far can this institutional-led market trend continue?
1. The Logic of Institutional Allocation in the Three Major Cryptocurrencies
The positioning of a crypto asset directly determines its long-term value, and different positionings correspond to different institutional...

The Fed’s rate cut ignited an institutional bull market: BTC soared, ETH revalued, can SOL take over?

XRP price is showing new strength as it trades around $3.10, up 2.8% in the past 24 hours and 3.2% in the past week. The move comes as the chart nears one of the most popular technical patterns...

XRP Price Set for Record Surge to $3.75 — Here Are the Driving Factors

Story Highlights
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Gemini shares drop below its IPO price just days after its debut on Nasdaq
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The company reported a $283 million loss in H1 2025
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Gemini is also nearing a settlement with the SEC
2...