Everyone's asking if AI is the next dot-com bubble. Nvidia and 25 companies just gave a clue.
Nvidia rallied 25 companies behind open AI models, and OpenAI and Anthropic sat it out. Here's why I think their coming IPOs, not this fight, mark the real top of the AI bubble.
Jensen Huang's first-ever post on X was an open-weights AI letter. Nvidia (NVDA) and Microsoft (MSFT) both signed it, along with 23 other companies.
Jensen Huang joined X in June and stayed silent for weeks. His first post was a joint industry letter on open AI models, signed by 25 companies including Microsoft. OpenAI, Anthropic, Google and Amazon did not sign.
All seven Magnificent Seven stocks fell today. Here's where that money actually went (July 23, 2026)
All seven Magnificent Seven stocks were red by late morning Thursday, led by Tesla's 14% drop on an earnings miss and Alphabet's close-to-7% slide despite beating estimates, on another capex raise. Amazon and Meta sold off too ahead of next week's reports. The money didn't just leave, it rotated: into defense on Lockheed's earnings beat, and out of quantum, SaaS and space.
Tesla (TSLA) and Alphabet (GOOGL) are falling hard. The rest of the AI trade isn't (July 23, 2026)
Tesla and Alphabet kept falling through Thursday morning even as chipmakers, neoclouds and photonics stocks held up fine. Oil topped $100 a barrel after Trump threatened to bomb Iranian infrastructure over any new attack on shipping.
Nasdaq-100 futures sank close to 1% Wednesday morning. Stocks clawed almost all of it back by mid-morning (July 22, 2026)
Nasdaq-100 futures fell close to 1% Wednesday morning on an Iran oil spike, new tariffs and chip-stock fear. Stocks opened lower too, but climbed steadily through the first half hour of trading and were back to nearly flat by mid-morning.
IBM already sank 20%. This week's earnings from Alphabet, Tesla, Intel and four more decide if AI spending is real
IBM already sank 20% on a warning. Now Alphabet, Tesla, Intel and four more of our tracked stocks report earnings within 48 hours, the clearest test yet of whether AI spending is paying off.
Kimi AI stopped taking new signups days after launch as GPU demand maxed out. Alphabet (GOOGL), Tesla (TSLA) and Intel (INTC) report into a chip bear market (week of July 20, 2026)
Moonshot paused new Kimi subscriptions three days after K3 launched because its GPUs hit capacity, which was our whole argument for chip stocks. This week: Alphabet, Tesla, Intel and Nokia earnings, $88 oil, and a Kospi reopen.
The Close, July 14: IBM lost a quarter of its value, and SK Hynix's Nasdaq stock jumped 27%
IBM lost about a quarter of its value in a single session after a weak preliminary report, and the damage spread across enterprise software. SK Hynix's brand-new Nasdaq stock went the other way, jumping 27% on a day chips broadly rallied.
Inflation fell for the first time since 2020, the Kospi closed green, and IBM still crashed 23% (July 14, 2026)
June CPI fell 0.4%, the first monthly decline since 2020, and chips bounced. Then IBM missed on preliminary results, lost roughly 23%, and dragged Workday, ServiceNow and Adobe down with it. CleanSpark jumped 8% on a $6.6 billion AI data center lease, and the Kospi closed green before the CPI number even existed.
Hyperliquid's Sunday tape shows chip and memory stocks bouncing hard
Western Digital, SanDisk and Micron are all up more than 6% from Thursday's close on Hyperliquid's 24/7 stock perpetuals. Here is the Sunday snapshot, and why it is not the same as Sunday night's real reopen.
Micron (MU), Nebius (NBIS) and chip stocks jump on Hyperliquid's weekend tape
Real markets are closed for July 4th, but tech and chip stocks are trading green right now on Hyperliquid's 24/7 stock perpetuals. Micron, Marvell and Nebius lead the bounce, and the S&P 500 and Nasdaq perpetuals are up too. Here is the full read, and why Monday could look nothing like this.
Where the money moved July 1: out of chips, into software, as Meta jumps on cloud news
A flat tape hid a sharp rotation on July 1, 2026: money moved out of semiconductors (SMH -4.2%) and into software (IGV +3.8%), led by Meta's (META) roughly 10% jump on news it will sell its spare AI cloud computing power.
Today's AI rotation map: out of the chips, into software, power and the frontier
A snapshot of Monday's rotation: as the AI build-out sold off, money moved into software (ServiceNow, Adobe), AI power (GE Vernova), quantum, space and cyber. A one-day picture that can flip fast.
Are SaaS stocks AI roadkill or AI winners? A look at ServiceNow (NOW), Adobe (ADBE) and the SaaSpocalypse
Software has shed about $2 trillion as AI agents threaten the per-seat model. What ServiceNow (NOW) and Adobe (ADBE) actually do, why NOW round-tripped from its lows, and whether SaaS is still needed in the AI era.
Green in a sea of red: why Microsoft is bucking the tech selloff today
Tech is bleeding on a memory-chip rout, but Microsoft is green. A deep dive into the rotation lifting MSFT and asset-light software while chips and Oracle get sold.