“when interest rates were actually very low, uh we saw 1000% year over year growth two years straight”
Falling rates lower the opportunity cost of holding crypto dollars, which historically drove stablecoin circulation and crypto velocity up
“I have wanted when when interest rates were really high, I my view is we really need interest rates to come down. We really need them to come down because…”
Allaire frames falling rates as the catalyst that expands USDC circulation rather than shrinking Circle's float income, citing an inverse correlation where a 35-40% rate decline drove a multi-hundred-percent rise in USDC. Cuts ahead become a top-line tailwind, not a threat.
“QuickBooks um invoice they they invoice uh people through QuickBooks. And it's actually trillions of dollars of transactions a year that are invoiced through…”
QuickBooks moves trillions in invoices a year; USDC settlement rails beat ACH and open a fintech adjacency for Intuit
“on average, each employee is going to have about 90 agents they control. So, we're going to have protection and visibility across all of those agents, whether…”
Kurtz argues the AI agent explosion creates a new security surface CrowdStrike monetizes via AI Detection and Response, sizing it at ~90 agents per employee needing endpoint-style protection. The same agentic wave driving the AI trade becomes CRWD's expansion vector.
“as long as we keep performing, there's this pot of gold at the end of the, you know, the Morgan Stanley sort of pot of gold. We should be able to keep stair…”
Goldstein ties Archer's valuation re-rating directly to hitting 2026 operational milestones: five DOT cities announced in Q1, summer flights, then certification, with Reddit retail liquidity letting institutions keep stepping the valuation up. The catalyst path is the trade.
“they are now five cities going to be announced in the first quarter and then we'll start flying in the summer”
Trump EO fast-tracks eVTOL: five cities named Q1, flights this summer, NYC heliports already configured for Joby
“gas turbines are a are a massive supply chain constraint, um, as people look to energize compute infrastructure... some of the major producers, folks like GE…”
Lockmiller names gas turbines as the bottleneck for powering AI data centers and lists GE Vernova first among the few producers. When a critical input is supply-constrained, the constrained supplier captures the scarcity rent, which is a long on GEV.
“there's no nobody has enough compute. None of the, you know, leading labs, none of the leading application companies can get their hands on enough compute.…”
Lockmiller runs Crusoe, a private AI cloud, so he sees demand from the inside, and he says no lab or app company can get enough compute. The cleanest liquid way to express a structural chip shortage is long the company that makes the chip everyone is short of.
“I think most of us agree going into 2026, stable coins and AI, uh crypto having a huge resurgence.”
Genius Act level playing field plus accelerating USDC network effects pull the whole regulated crypto rail up
“Caterpillar has a company called Solar that we work with very closely. Uh, you know, Siemens, uh, Mitsubishi”
Caterpillar's Solar Turbines unit is a named close supplier to the off-grid gas data-center buildout
“we have a long-term lease agreement with Oracle... a long-term, you know, 15-year off-take agreement with Oracle. Um, and so they're committed to sort of…”
Oracle holds a 15-year off-take on Crusoe's flagship Abilene Stargate campus, anchoring AI compute revenue