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“$QQQ peaked right after the June 13 launch and is since down over 5%”
@negligible_cap
Chinese open-source AI commoditizes inference, eroding the US hyperscaler premium embedded in Nasdaq; QQQ rolling over post-GLM-5.2 launch.
XYZ100SHORT@ $29,594.89
$28,103.16+5.04%
since call Jun 28
peak +6.4%
“Perhaps the next $1T our hyperscalers spend in 2027 will catapult US models ahead of the Chinese models, but after watching the last 12 months it's becoming har”
@negligible_cap
Microsoft's capex/OCF ratio hits 101% as Chinese open-source models commoditize the AI advantage that justifies the spend — returns collapse.
MSFTSHORT@ $370.71
$472.15-27.36%
since call Jun 28
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