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From 2020 to 2025, Broadcom’s revenue experienced a rather pleasing ascent, a 22% compound annual growth rate, swelling from $23.9 billion to $63.9 billion. Adjusted EBITDA followed suit, increasing at an even more agreeable 26% rate, climbing from $13.6 billion to $43.0 billion. Such numbers, while impressive, are merely the vulgar display of a carefully orchestrated strategy. To merely grow is commonplace; to grow with such calculated precision is an art form.

For a time, the narrative centered on Rivian’s internal struggles—production delays, logistical impasses, the familiar birth pangs of a nascent manufacturer. Now, however, the focus has shifted, revealing a more profound and unsettling truth: the fragility of reliance on governmental largesse. The abrupt cessation of the $7,500 electric vehicle tax credit, a policy reversal of significant magnitude, has exposed the precariousness of the entire sector, a sector predicated on the assumption of continued subsidy. It is a lesson in the impermanence of favor, a chilling reminder that the hand that giveth can just as swiftly take away.

The documentation, filed with the Securities and Exchange Commission, reveals a reduction in Hodges Capital’s position within TeraWulf during the final quarter of the year 2025. The value of the divested shares amounted to $12.32 million, based on the average closing price for that period. The overall value of their TeraWulf holdings experienced a diminution of $10.30 million, a figure reflecting both the ebb and flow of trading activity and the inherent volatility of the asset itself.

You see, everyone’s been throwing money at Nvidia and Broadcom – those flashy show-offs with their enormous chips. But they’ve forgotten the little helpers. The ones who make sure those big chips don’t get all muddled and confused. Micron is that helper. They provide the stuff that makes the cleverness actually work. And that, my friends, is a rather powerful position to be in.

Apparently, Hodges Capital decided to trim their GEO holdings during the last quarter of 2025. A $6.69 million reduction. It’s funny, isn’t it? You spend hours researching, building a thesis, and then someone just…sells. It makes you feel a bit redundant. The fund’s total position dipped by $10.64 million, factoring in both the sale and, naturally, the relentless march of market forces. It’s like trying to hold onto sand.

There’s a bit of chatter about a bubble, naturally. Bubbles are the inevitable consequence of excitement, and there’s a lot of excitement around artificial intelligence. But here’s the thing: this isn’t just hopeful thinking. These companies aren’t tossing money into the ether; they’re building infrastructure. Real, physical, power-hungry infrastructure. And that, my friends, is a rather different proposition. They need servers. Lots and lots of servers.

Meanwhile, Taiwan Semiconductor Manufacturing – TSMC, if you’re keeping score – is actually doing the work. And they’re up 43% in the last six months. 43%! Nobody’s talking about that. They’re too busy fawning over the marketing department at Nvidia. It’s infuriating, honestly. I mean, I’m a dividend hunter, and I like to see where the actual value is. It’s not always where the hype is.

The company reported its fourth quarter results, and let’s just say Wall Street’s expectations were… politely disregarded. The numbers weren’t just met; they were given a firm, upward nudge. First quarter guidance followed suit, exceeding estimates with a cheerful disregard for conventional forecasting. It’s a refreshing change, frankly, to see a company actually surprise with good news.

Let us posit a modest experiment. Five years prior, a thousand units of the prevailing currency were allocated to this entity. The question is not merely what remains, but what has been transformed. The answer, as we shall see, is disquieting in its implications.