Heading to NYC for my first in-studio appearance on Fox Business. Been on 5 times remotely from San Diego. It’s time to face the lights! In the city Oct 22-23. If you’re around and want to grab coffee or talk semis, ideas for 2027. DMs are open.

Listening to Micron($MU) Technology and Product Webinar. Will do article for my subs. Key technology innovations - Vertical HBM, Hybrid bonding, Custom HBM. Micron is Co-designing, Co-validating and Co-leveraging technology more than ever before. More later... events.q4inc.com/attendee/83…

Let me tell you again the story on $WULF and why I am bullish. I am not here to pump this. I have owned TeraWulf since 2024, have not sold a single share, and I am here as a long-term investor. $CRWV pain should not be $WULF or $NBIS pain. Paul Prager, CEO of TeraWulf, came on CNBC today and alluded to what I have been saying for a long time. There is a critical distinction the market is ignoring: the colocation players – TeraWulf, Cipher, Applied Digital – versus the NeoClouds – CoreWeave, Lambda, Nebius. Nebius is run by stellar management. CoreWeave, not so much. The market is punishing the entire group for CoreWeave’s problems. That is a mistake. Here is what Paul laid out on $WULF. They have 3.5 gigawatts of power assets. This is a powered shell. They own the land. They deliver the power. They have investment-grade credit backing from Google through their colocation agreements, from Anthropic through a 20-year, $19B lease, and from FluidStack. They have already raised. They have a fortress balance sheet. What happens if rates go up? That is where the investment-grade credit backstop matters. Google is not going to stop running their compute. They are willing to backstop the payments. And this is the beauty of the colocation model. TeraWulf does not take the risk of owning the technology. What kind of GPU? What is the price of that GPU five years from now? They do not have to warehouse chips in special purpose vehicles. All they have to do is build efficiently, deliver on time, and deliver power. And their power comes from investment-grade utilities. The sell-off is mispriced. It is obvious. I have been an early investor in TeraWulf. Two years in, my conviction has only gotten stronger. The analysts have a $65 price target. My target is at least $30. And when this reprices, the line will be long. I have added to my $WULF position twice during the recent weakness. Share prices fluctuate wildly, but the focus should remain on what TeraWulf is actually building and delivering. Thank @Nogimics for recording and transcribing the interview. Also an early, earlier than me $WULF investor.

$BB is moving again. I’ve been writing about BlackBerry since early this year. All my articles are linked below. Yesterday I made the case that every new agent and every AI product has to be TRUSTED. For BlackBerry, trust is the moat. Safety certification takes years. Once QNX is designed in, it’s the stickiest component in a critical system. I see BlackBerry as a physical AI story that plays out in 2027. My position is built. I’m here to stay.

One more Black Monday post and I’m screenshotting these for posterity. I’ll bring them back at market ATHs just for the laugh. The buildout happens at higher costs and higher rates. It does not stop. 👇🏽 Most of you here are short-term traders who pride yourselves on buying the exact low and selling the exact high. You don’t care if the US loses to China with a slower buildout. You don’t understand what stopping the AI race actually means.

Intel's CEO, Lip-Bu Tan, said China could catch up to U.S. semiconductor technology within 5-10 years. Regarding AI, he cited Moonshot AI's and DeepSeek as not technologically inferior to Anthropic or OpenAI and are significantly cheaper. He expressed concerns of the foundry market being monopolized by 1 or 2 firms. "TSMC, Intel, Samsung Electronics, and Japan’s Rapidus must all expand production bases." Lip-Bu emphasized the necessity of government support for foundry investments, noting that such projects are a heavy burden for private companies. The USG needs to give full support and more to Intel! $INTC $TSM