HAPPY MONDAY TO THE STREET
Google's (GOOGL) AI brain trust is springing leaks.
Two marquee researchers bolted for rivals in a week, Noam Shazeer to OpenAI and Nobel Prize winner John Jumper to Anthropic, just as CEO Satya Nadella called AI a commodity. In response, Alphabet slid sharply today.
We thought the robots were coming for the jobs, not the job-makers…
🟥 | US stocks fell today as tech names sold off, including SpaceX (SPCX), which posted its third-straight loss on its sixth trading day.
📈 | One Notable Gainer: Shares of Getty Images (GETY) more than doubled after the firm agreed to put its content on OpenAI's ChatGPT.
📉 | One Notable Decliner: AeroVironment (AVAV) tumbled after disclosing it will restate earnings over a goodwill impairment error.
— Brooks & Cas
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
WHO WILL BE THE SECOND TRILLIONAIRE?
Elon Musk just became the world's first trillionaire, thanks to SpaceX's (SPCX) market debut. Now Kalshi traders are betting on number two.
Meta (META) chief Mark Zuckerberg leads at 32%, though his fortune would need to quadruple to qualify. Nvidia's (NVDA) Jensen Huang trails at 21%. Dell's (DELL) Michael Dell is richer than both, yet lands at just 6%.
Not quite as fun as betting on the long-rumored Musk vs. Zuckerberg cage fight. But it’s a, well, close second.
Market Movers
APOGEE, COREWEAVE, SUPERMICRO
📈 | Apogee Therapeutics (APGE) surged nearly 50% on news it will be acquired by AbbVie (ABBV) for $10.9B in cash.
📉 | CoreWeave (CRWV) fell after disclosing insider sales, including more than $35M from its CEO.
📈 | Super Micro Computer (SMCI) jumped on a new Nvidia Vera Rubin server blueprint.
📉 | Salesforce (CRM) slid for a 14th straight session on AI disruption fears.
📈 | Micron (MU) climbed on two price target hikes.
Tomorrow's Trade Idea, Today
THE COPPER STANDARD
Stock Spotlight
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Plugged In
Evercore ISI is betting copper still has life left.
The firm launched coverage of Credo Technology with an Outperform rating, calling it one of the cleanest ways to play the wiring beneath AI.
Beyond The Wire
Credo made its name on copper, selling whole cables paired with chips instead of silicon alone.
However, Lipacis argues, the bigger story is optical. As Credo rolls out optical DSPs, silicon photonics and its ZeroFlap modules, Evercore expects its addressable market to swell to between $5B and $10B, as much as 20x what it serves today.
Street Cred(o)
Wall Street is already crowded into the trade. Of the 21 analysts covering Credo, 20 rate it a Buy or Strong Buy. The stock has nearly doubled in 2026, and jumped more than 10% today following the initiation.
But Evercore's wager is a long-term bet that the copper play everyone bought becomes the optical play nobody priced in.
Do you own any shares of Credo Technology (CRDO)?
OVERHEARD ON THE STREET
🏛️ Alan Greenspan, the longtime Fed chairman known as "the Maestro," died at 100.
🛰️ SpaceX’s decline came despite signing a compute deal with open-source startup Reflection worth up to $6.3B.
🪖 Trump summoned top defense contractors to the White House, who will meet Wednesday to discuss ramping up depleted US missile production.
🛢️ The US Treasury waived sanctions for two months, letting Iran sell oil in dollars for the first time in decades.
🎬 Google is investing $75M in indie film studio A24 as part of an AI research partnership.
FRIDAY'S POLL RESULTS
Do you own any shares of NANO Nuclear Energy (NNE)?
▇▇▇▇▇▇ 🐂 Yup, I'm holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I'm interested
And, in response, you said:
🐻 Nope, not interested — “NaNO — just too small to see.”
👀 No, but I'm interested — “If the government will get out of the office way and let nuclear power grow...”
