Add billionaire Orlando Bravo to the Wall Street luminaries calling “AI bubble”. But fear not. In comparing the AI wave to the dot-com bubble, the private equity legend sees one “big difference”, as well. (Hint: it rhymes with “an idiot”. Sort of.)

Finally, read to the end for your shutdown-era jobs data fix…

— Brooks & Cas

Finpubs covered the noise. We covered the moves that mattered.

This weekend’s report broke down sweeping pharmaceutical developments in DC, dueling analyst calls on Apple, and why a disruptor brand led to a rare double-downgrade for a hot stock. But that’s just the start.

With Street Sheet Research, you’ll get the same edge every week — plus monthly deep-dive reports and real-time Street Feed access.

$ORCL ( ▼ 2.52% ) Oracle stock dips on GPU profitability concerns (Investing.com)

$AMD ( ▲ 3.83% ) AMD CEO Lisa Su says AI critics are 'thinking too small' after massive OpenAI deal (YF)

$F ( ▼ 6.14% ) A Devastating Fire at a Major Ford Supplier Will Disrupt Business for Months (WSJ)

$ICE ( ▲ 1.84% ) NYSE owner takes $2 billion stake in Polymarket as prediction markets heat up (Reuters)

$DLTR ( ▼ 3.01% ) Dollar Tree shares slide as Jefferies downgrades stock on rising competition (Invezz)

CNN: Tesla $TSLA ( ▼ 4.45% ) unveiled cheaper Model Y and Model 3 versions starting at $39,990 and $36,990 to counter slowing sales and competition.

GuruFocus: Boeing $BA ( ▲ 0.95% ) is nearing EU approval for its $4.7B acquisition of Spirit AeroSystems $SPR ( ▲ 0.53% ) after agreeing to divest assets to ease antitrust concerns.

NYT: A Los Angeles jury ordered Johnson & Johnson $JNJ ( ▲ 0.39% ) to pay $966M after ruling its baby powder caused a woman’s fatal cancer.

Reuters: Toyota $TM ( ▲ 0.36% ) said it was developing a small drone system to help drivers navigate hazards on unpaved roads and trails.

WSJ: Anthropic partnered with IBM $IBM ( ▲ 1.54% ) to embed its Claude AI models into IBM software, expanding its enterprise reach and developer tools.

Astera Labs $ALAB ( ▼ 3.95% ) could be one of the biggest beneficiaries of yesterday’s blockbuster announcement between Advanced Micro Devices $AMD ( ▲ 3.83% ) and OpenAI.

The two companies revealed a multi-billion-dollar infrastructure partnership that will see OpenAI deploy up to 6 gigawatts of AMD’s Instinct GPUs over several years. Astera shares surged on the news and have now nearly quadrupled in the past six months.

Citi $C ( ▼ 0.26% ) analyst Atif Malik reiterated a Buy rating on Astera and set a Street-high $275 price target, implying a nearly 30% upside from recent levels. The Silicon Valley-based semiconductor company builds hardware and software that enable high-speed connectivity in cloud and AI systems, a critical piece of the network infrastructure underpinning AMD’s forthcoming Helios platform.

Astera’s leadership in open networking ecosystems appears to be a key reason for Citi’s bullish stance.

Malik noted that the company is “a leader in open AI networking ecosystems including UALink,” the low-latency, high-bandwidth interconnect standard AMD $AMD ( ▲ 3.83% ) is expected to use in Helios. By improving communication between accelerators and switches, UALink can make AI training and inference far more scalable.

That positioning could translate directly into profits. Citi estimates that as open rack-scale systems become more common, Astera could generate around $1,000 per accelerator deployed. The firm believes that exposure makes Astera one of the purest plays on the next generation of AI hardware infrastructure, even as broader semiconductor valuations remain stretched.

Citi’s $275 target stands well above the average analyst forecast of $190, according to LSEG data — a sign of how much optimism the bank sees in Astera’s long-term potential. While AI hardware remains a fiercely competitive market, Astera’s integration into AMD’s ecosystem gives it both visibility and leverage that smaller peers lack.

The company’s trajectory may depend on how quickly AMD’s Helios platform gains traction and how large OpenAI’s deployment footprint becomes. But for those looking for a beneficiary of the deal that hasn’t surged 30% over the past few days, Citi believes Astera is the place to start.

By 2040, 80 million Americans will be over 65. Healthcare costs are projected to hit $7.2 trillion by 2031.

The numbers don’t lie: the Grey Wave is coming. Our inaugural research report gave subscribers two names to watch now.

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CNBC: Gold surged past $4,000 an ounce for the first time as investors sought safety amid recession fears and a weak dollar.

Axios: A White House memo suggested furloughed workers may not get back pay, escalating Trump’s pressure on Democrats to end the shutdown.

Variety: The Motion Picture Association urged OpenAI to fix Sora 2’s copyright opt-out system amid a surge of AI-generated knockoff videos.

TechCrunch: X rebranded Verified Organizations into Premium Business and Premium Organizations tiers, offering gold and grey checkmarks.

AP: The WTO said global goods trade rose unexpectedly, driven by surging US imports and an AI-related buying boom.

BLS may not be reporting it, but that doesn’t mean it’s not happening.

BofA’s data suggests fewer people are getting paid and more are collecting unemployment. The divergence between payroll growth and jobless claims is starting to widen — never a great combo.

Are you bullish or bearish on Klarna $KLAR ( ▼ 2.18% ) over the next 12 months?

▇▇▇▇▇▇ 🐂 Bullish

▇▇▇▇▇▇ 🐻 Bearish

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