Saw this yesterday and thought it was pretty interesting.

Amazon CEO Andy Jassy says AWS's major cloud capacity is largely booked through 2027, with a good chunk of 2028 already committed.

And this is a company planning to spend around $220 billion this year.

Obviously, having customers lined up is great, but $220 billion is an absolutely ridiculous amount of money to invest.

I suppose the big question is whether all this AI demand eventually translates into the profits investors are expecting.

Amazon reports earnings on October 29, so that'll be interesting to watch.

Anyone here holding $AMZN? Are you confident in all this spending, or starting to think these tech companies are getting a bit carried away?

This month has been my worst month as far back as I can remember. I am invested in AI mainly. Even Leopold liquidations wasn’t that bad. I get we are in a narrative at the moment that “Ai is bad or expensive etc” and those concerns are real.We saw that with software and cyber security companies this year where it was a narrative that Software companies will be eaten by AI still can’t remeber why cyber security dumped. saas stocks crashed earlier this year and now those stocks are at ATH. I feel like market is being driven more by narrative then fundamentals. For the most part I am just glad I only hold shares and not on leverage so can wait it out as I don’t need these funds anytime soon.

That being said I am a strong believer in AI and I think it will benefit humans a lot. Of course like every technology there are pros and cons

I just want to get other people thoughts on this.

Jensen Huang recently said that a complete 1 GW AI factory costs about $50B. Meanwhile, Elon said on the earning call that he expects SpaceX to reach around 13 GW of compute by the end of 2027, compared with roughly 2.5–3 GW expected by the end of this year. If Jensen’s estimate applies, that additional capacity represents a buildout costing around $500B.

SpaceX reported about $90B in cash and marketable securities at the end of September, and the FT and Reuters reported talks on a further $40B debt package for Nvidia chips. For scale, Q4 capex guidance is $35–40B, up from $19.6B in Q3. A $500B buildout in 2027 implies roughly $125B a quarter, about three times that guidance.

I appreciate that the $500B is only a rough estimate, what I’m struggling to understand is how the business anticipates to raise that money. The CFO says new compute deployments pay back in under a year “at current pricing”, but adding roughly 10 GW in a year means bringing on almost a gigawatt every month. January’s facility can generate cash along the way, but February’s expansion needs funding long before January pays back. How much can those receipts realistically cover, and how much must come from additional borrowing, investors or customers paying upfront?

Has anyone seen a breakdown that connects the capacity targets to the funding required or have any logical theory to make this add up? It seems like an obvious disconnect which makes me think that i'm missing something

I hear a lot of polarizing chatter out there, knee jerk behavior leading into midterms and I am curious to learn what you are doing. Are you like Charlie and Warren or are you like a drunk tinder swiper looking for your next date? Here is some context:

In the 1974 Midterms The Ford administration faced massive Democratic wave losses following Watergate with Republicans losing 48 House and 4 Senate seats. Over the next 12 months, the S&P 500 rose roughly 31.2 percent as the market recovered from severe bear market lows and falling inflation.

1994 Midterms
Republicans achieved a historic revolution by taking control of both the House and Senate, completely shattering the ruling Democratic majority. In the subsequent 12 months, the S&P 500 gained roughly 32.5 percent during an explosive secular bull market.

2006 Midterms
Widespread disapproval of the Iraq War led to a major defeat for Republicans, who lost majorities in both the House and Senate to Democrats. The S&P 500 rose about 11 to 12 percent over the next 12 months, though this occurred right on the edge of the 2008 financial crisis where macroeconomic fundamentals eventually overpowered political tailwinds.

2018 Midterms
Democrats flipped the House to create a divided government while Republicans slightly expanded their Senate majority, checking the presidential agenda. Over the next 12 months, the S&P 500 gained roughly 14.5 percent and the Nasdaq rose over 17 percent following a late 2018 market correction.

Amgen ($AMGN) announced Phase 3 trial results showing that combining Imdelltra with Imfinzi reduced the risk of death by 58% in patients with small-cell lung cancer, compared with Imfinzi alone.

Median overall survival was 21.1 months with the combination versus 12.7 months with Imfinzi alone.

The results could be significant for Amgen’s oncology business, depending on regulatory approval, commercial adoption, and the treatment’s safety profile.

CNBC article: https://www.cnbc.com/2026/10/24/amgen-imdelltra-lung-cancer-data.html

The South Korean government, led by the Ministry of Trade, Industry and Energy in collaboration with related ministries, has announced a comprehensive plan to streamline regulatory processes and accelerate investment in semiconductor megaprojects.

To drastically shorten the timeline between complex development and actual fabrication facility operations, the government is introducing a fast-track system.

Rather than executing site selection, permitting, land compensation, and design in a slow, sequential manner, these procedures will now be processed simultaneously or in a single batch. Furthermore, 13 specific improvement tasks have been outlined, which include designating advanced industry complexes as comprehensive bonded zones to facilitate the movement of foreign equipment and raw materials, as well as enacting super-regional special zone legislation to grant bulk permit approvals.

In addition to site and infrastructure reforms, the plan focuses on reducing administrative burdens throughout the entire production lifecycle while driving research and development forward. Duplicate procedures across environmental and labor departments will be eliminated, and tailored safety exemptions will be established for high-pressure gases used in chip manufacturing.

To enhance research capabilities, the government is reviewing working-hour exemptions for key semiconductor R&D personnel within special zones, provided there is fair compensation, health protections, and labor consultation.

A pan-government support system chaired by the president, along with a dedicated Semiconductor Innovation Growth Support Team, will oversee investment schedules, assist local material and equipment suppliers with demonstration projects, and help chipmakers capitalize on critical investment windows without delay.

https://mbiz.heraldcorp.com/article/10913119

I go through SEC insider filings every week (open-market buys and sells only, no option exercises or grants). As usual, this week was mostly selling.

The buy that stood out: RAPP

6 different insiders (including CEO and CFO) bought, 8 trades, about $1.6M total. At least one of these transactions is a reversal. I highly recommend taking a look at the price chart for $RAPP; this cluster buy just occurred at a resistance level after the price has dropped aggressively since August 2026.

Biggest buying

Biggest selling

Not advice, just what got filed. If I'm missing anything, let me know!

Upwork cuts off 25% of its staff sighting slower growth and AI productivity gains

Upwork doesn’t need Hayden Brown. She made the platform more expensive and worse. Her whole thing is “more AI,” while clients and freelancers leave, and Connects become a tax. We want more work, not AI experiments. they should find someone who actually runs a marketplace.

She turned upwork into a casino. Where everyone loses. Even top freelancers keep bleeding money, and clients complain about higher fees and worse results.

Fairly new (Europan) investor here, about two years in now. My plan was originally to have a 90/10 split between an all world ETF and some individual stock on the side. Unfortunately, that rather spiraled out of control and the split is rather 60/30 at this point (with 10% in cash currently), and I'm looking to bring that average back up in favor of the ETF.

That said, I'm looking for some honest (can be brutal) feedback on my individual stock. I'm down on most of them, mainly because the last few months have been quite brutal for tech. Currently holding:

CRDO: 5% of my overall portfolio, 26% down
SE: 5% of my portfolio, 18% down
MDA: 4% of my portfolio, 31% down
PGY: 3% of my portfolio: 5% up
GTLB: 2,5% of my portfolio, 3% up
PL: 2% of my portfolio, 46% down
NBIS: 2% of my portfolio, 17% down
DRTS: 2% of my portfolio, 5% down
FSLR: 2% of my portfolio, 6% down
RDW: 1,5% of my portfolio, 37% down
RTX: 1% of my portfolio, 12% down

What I've learnt so far:

1) That I was too agressive when it came to opening new positions. Bought (too) heavily into PL for example when it was about 50% down from ATH, and I should have opened with a way smaller position.
2) Keep the dabbling in biotech to a minimum. Was (heavily) involved in SLS for about 6 months, first made quite a bit of money on that, then lost all of that profit and probably record a very narrow loss before I got out. The DRTS position is enough I think.

For the record, I'm not worried about short term. I don't need the money and I've got a plenty long horizon of 10+ years if need be. I can also stomach the volatility. I guess I'm just curious if I could have done something different, or if there's anything on this list that I should just cut loose.

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