ASML manufactures the lithography machines essential for producing advanced chips. Broadcom designs the networking silicon and accelerators that allow data centers to process the resulting flood of data. Both are currently enjoying considerable success. However, when one considers not merely their performance, but the price one pays for a share in that performance, a divergence emerges.
For years, this company, renowned for imbuing mortals with the illusion of speed and grace, has been beset by rivals, nimble newcomers eager to claim a share of the field. Add to this the general discontent of the populace, a reluctance to lavish funds upon mere comfort when necessities press, and the stage is set for a drama of no small consequence.
The recent exchanges – acts of calculated disruption against vital energy infrastructure – have, predictably, instigated another surge in the price of black gold. As of the twentieth of March, Brent crude commanded a price exceeding one hundred and five dollars the barrel – a fifty percent ascension from the level prevailing before the outbreak of conflict. It is a price not merely of supply and demand, but of anxiety and the ever-present specter of instability.
CrypFlow, that modern-day soothsayer of charts and candlesticks, warns us that Bitcoin’s recent flirtation with the mid-$70,000s is but a fleeting embrace. The daily chart, that stern and unforgiving judge, reveals a structure as bearish as a Moscow winter. Until this pattern is shattered, the latest bounce is but a shadow play, a mirage in the desert of speculation.
In a recent epistle shared upon the platform X, the esteemed on-chain analytics firm, Santiment, has deigned to enlighten us on the latest trends in the Supply Distribution of these financial leviathans. This “Supply Distribution,” a term of art, reveals the number of wallets associated with a particular coin range. For instance, the cohort holding between 1 and 10 coins is meticulously cataloged, though it is the 100+ BTC range that currently commands our attention.
Now, Tesla makes cars. Electric ones. And xAI makes… well, they make promises about artificial intelligence. A crowded field, that. Like a highway during rush hour, only with more venture capital. It’s all very modern. And probably won’t solve any real problems. But who’s counting?
The latest wrinkle involves the U.S. Justice Department accusing three Supermicro employees – including one of the founders, a gentleman who clearly enjoys a good puzzle – of violating the Export Control Reform Act. Apparently, around $2.5 billion worth of servers, lovingly packed with Nvidia graphics processing units (GPUs), were surreptitiously shipped to China. Now, one understands the need for rules, of course. National security and all that. But one can’t help but picture a clandestine operation involving carrier pigeons, smoke signals, and a rather disgruntled customs official.1
Already, Nebius stock has enjoyed a 47% ascent this year, a trajectory that suggests either remarkable ingenuity or an exceptional talent for catching the prevailing wind. And it appears this particular breeze may persist. Let us examine, shall we, the reasons why this latest arrangement with Meta could propel this artificial intelligence infrastructure provider to heights previously reserved for hot air balloons and overly optimistic venture capitalists.
The complete absence of VIGI from Perritt’s reported assets under management (AUM) is, of course, the operative detail. It now constitutes precisely 0% of their portfolio, a rounding error in the grand, incomprehensible ledger of global finance. One pictures a dedicated clerk, tasked with updating the spreadsheets, performing the final subtraction with a weariness that transcends mere professional obligation. The remaining holdings, as of this date, are as follows: BELFB at $2.38 million (4.0% of AUM), ASM at $2.17 million (3.6%), PESI at $2.09 million (3.5%), SAMG at $1.95 million (3.3%), and EXK at $1.94 million (3.2%). These figures, while present, offer no solace, merely shifting the weight of uncertainty to other, equally precarious positions.
CoreWeave, in essence, is a provider of computational power, focused solely upon the demands of this burgeoning artificial intelligence. It is a singular dedication, a narrowing of purpose that reflects the very spirit of our age. They deploy the chips of Nvidia, naturally, and it is this symbiosis that has captured the eye of the larger concern. But the question, as always, is whether such attention translates to a judicious investment, or merely another bubble inflated by the collective dreams of speculators.
