$TSM

THE STATE OF PLAY (1) Anthropic is about to turn a profit. They are charging users and raising prices and customers are paying. That sounds like strong product market fit. (Dario's revenge arc as ex-OpenAI President is kind of amazing.) (2) SpacEx is about to raise a bunch of capital, and OpenAI, and Anthropic. (3) Dell signed up 1,000 new Enterprise customers. Think about that number for a bit... Most of those are Fortune 500 companies and are high quality customers. (4) The US DoW is spending on defense contracts (5) Nvidia's Jensen is previewing robotics. Here's the cycle we've gone thru: (1) Oct 30th: Don't trust Sam Altman's capex spend obligations (2) The capex issues are priced in, Mag 7 stocks sold off. AI Apocalypse is real and hurting SaaS. (3) We are seeing produ