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FUNDA✓

@FundaAI

The full-stack research platform for public equity investors. https://t.co/0xRZegn2ep [email protected]

1.2K Following38.3K Followers2.3K Posts
  1. FUNDA✓@FundaAI
    We're excited to announce that two popular FUNDA Plays, GPU Rental Price Tracker and Thematic Sector Rotation, are now available to all our followers, with no login required. GPU Rental Price Tracker Compare GPU rental prices across providers and lease types, including spot, on-demand, reserved, and capacity block pricing. The dashboard brings cross-vendor price indices and historical trends together to provide a consistent reference for monitoring changes in compute costs. Start here: Thematic Sector Rotation Track relative strength and momentum across thematic sectors, compare daily rankings, and monitor shifts in market leadership. The dashboard brings rotation charts, leadership maps, and market-style indicators together to help assess how sector trends are evolving. Start here: If you find these Plays valuable, subscribe to FUNDA to unlock the full capabilities of our research platform.
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  2. FUNDA✓@FundaAI
    If OpenAI uses its own ASICs, the cost would be $70 billion × (1 − NVIDIA’s gross margin) = $20 billion.
    Wall St Engine @wallstengine
    Sam Altman says the cost of building and operating 1 gigawatt of AI infrastructure over five years should ideally fall from an illustrative $70B to around $20B. “The fundamental cost of turning the sand into intelligence... should go down.”
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  3. Wall St Engine✓@wallstengine
    Sam Altman says the cost of building and operating 1 gigawatt of AI infrastructure over five years should ideally fall from an illustrative $70B to around $20B. “The fundamental cost of turning the sand into intelligence... should go down.”
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  4. FUNDA✓@FundaAI
    Working with David is absolutely a great opportunity!
    davidlee @davidlee
    1/ I'm hiring an investor at Samsung Next, based in the Bay Area. No investing experience preferred. You'd work for me.
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  5. davidlee✓@davidlee
    1/ I'm hiring an investor at Samsung Next, based in the Bay Area. No investing experience preferred. You'd work for me.
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  6. FUNDA✓@FundaAI
    $ftnt down 20%. The Q3 slowdown isn’t necessarily a demand problem. The old growth engine is just fading faster than the new one can scale. FTNT is going thru a transition in its growth engine: from highvolume branch appliance sales with strong subscription attach rates to fewer, larger deals driven by high-end hardware. New biz is growing, with lower subscription attach, slower revenue recognition, and weaker revenue quality.
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  7. FUNDA✓@FundaAI
    $GOOG announced Gemini 4 Carbon yesterday, about two weeks after Argon became widely available. Google is back in the top tier - Carbon tops Artificial Analysis Intelligence Index v5 with a score of 59, ahead of Claude Opus 5.5 (58) and GPT-6 Astra (57). With models from the three leading labs separated by just two points on the AA index, we believe competition in model training has intensified further. Consistent with our earlier view, Sundar said AI is helping Google speed up model training and releases. He expects recursive self-improvement (RSI) to drive further acceleration over the next 12 months. Our understanding is that Google used model soups in this cycle to accelerate model development. A tasty model soup is created by directly averaging the weights of several models. We explain in our note below.
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  8. FUNDA✓@FundaAI
    If $mrvl acquires $lite, it would likely be accepting heavy dilution to secure scarce lasers and an optical switching business that sits alongside its electrical switch silicon. Marvell’s bargaining power vis-à-vis module makers would increase, raising the question of whether the deal would be approved by regulators. $cohr will benefit from tighter laser supply and other DSP manufacturers will also benefit as Lumentum’s Cloud Light transceivers compete with the module makers that buy Marvell DSPs; some may move DSP volume toward Broadcom, Credo and others.
    Serenity @aleabitoreddit
    Holy sht, $MRVL is in the final stages of a deal to acquire $LITE. Attempting to vertically integrate the most supply constrained chokepoints… with lasers. Is very big brain if they pull it off and suddenly makes other laser players more strategically valuable.
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  9. Serenity✓@aleabitoreddit
    Holy sht, $MRVL is in the final stages of a deal to acquire $LITE. Attempting to vertically integrate the most supply constrained chokepoints… with lasers. Is very big brain if they pull it off and suddenly makes other laser players more strategically valuable.
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  10. FUNDA✓@FundaAI
    FUNDA
    RT @AnalysisOp: “We are rolling Carbon out, first to a subset of trusted cyber defenders, before we expand access, and it’s being tested by the U.S. government” - $GOOGL Exactly in line with what @FundaAI said in the post above about the cybersecurity Market [Info by @firesidealpha ]
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  11. FUNDA✓@FundaAI
    These are all “gray rhino” risks—obvious threats that the market continues to underappreciate. Everyone knows ChatGPT will have an impact on Google, but amid the focus on what has happened over the past year, that threat has been overlooked. Meta, too, has spent years laying the groundwork to improve its performance in historically weaker verticals.
    FUNDA @FundaAI
    Beyond ChatGPT, Meta’s impact on Google’s advertising business is also clear. In both our GOOG Preview and META Preview, we specifically highlighted that Meta is taking North American ad budget share from Google in verticals such as travel, automotive, and financial services. These have historically been areas of weakness for Meta. Even before Muse began contributing purchase intent data, Meta was already systematically improving its algorithms in these verticals. This is also reflected in Meta’s earnings, with its North American growth accelerating by 10% this quarter.
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  12. FUNDA✓@FundaAI
    Beyond ChatGPT, Meta’s impact on Google’s advertising business is also clear. In both our GOOG Preview and META Preview, we specifically highlighted that Meta is taking North American ad budget share from Google in verticals such as travel, automotive, and financial services. These have historically been areas of weakness for Meta. Even before Muse began contributing purchase intent data, Meta was already systematically improving its algorithms in these verticals. This is also reflected in Meta’s earnings, with its North American growth accelerating by 10% this quarter.
    FUNDA @FundaAI
    We rarely mention another company in the title of a company’s preview. This quarter’s $GOOG preview marks only the second time we’ve done so. The first was last quarter’s APP preview, where we put Unity directly in the title. We’ll soon be doing so for a third time.
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  13. FUNDA✓@FundaAI
    We rarely mention another company in the title of a company’s preview. This quarter’s $GOOG preview marks only the second time we’ve done so. The first was last quarter’s APP preview, where we put Unity directly in the title. We’ll soon be doing so for a third time.
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  14. FUNDA✓@FundaAI
    Last quarter, MSFT extended the terms of some projects, shifting some leases from finance leases, which count toward capex, to operating leases. That change in reporting methodology lowered the reported metric. Finance leases should be included in capex.
    3X Long Labubu @labubu_trader
    @FundaAI But why the sell side didn’t lower the estimates?
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  15. 3X Long Labubu✓@labubu_trader
    Posts @FundaAI
    @FundaAI But why the sell side didn’t lower the estimates?
    201225.4K
  16. FUNDA✓@FundaAI
    For the institutional report, please contact Sales@Funda.ai.
    FUNDA @FundaAI
    We rarely mention another company in the title of a company’s preview. This quarter’s $GOOG preview marks only the second time we’ve done so. The first was last quarter’s APP preview, where we put Unity directly in the title. We’ll soon be doing so for a third time.
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  17. FUNDA✓@FundaAI
    Great interview! @Midnight_Captl
    Nick Dorsey @Midnight_Captl
    This is my conversation with Michael Kagan, the founder of Mellanox and current CTO of NVIDIA We speak about his life, the progression of networking over the span of his career, and how the work that NVIDIA is now doing to build "Planet scale" computing I hope you enjoy the conversation as much as I did 00:00 Highlights 01:16 Growing Up in Russia and Moving to Israel 03:42 Intel, the PC Revolution, and a Passion for Technology 06:14 Sponsor: Liquid 06:33 Lessons from Intel: Software and Networking 10:10 Founding Mellanox and the Vision for Cloud Computing 14:34 From Supercomputers to the Cloud 17:46 How GPUs Sparked the AI Revolution 20:52 Sponsor: Compute Exchange 21:14 NVLink and the Rise of Rack-Scale Computing 24:57 The Engineering Challenges Behind NVL72 27:39 Designing Hardware for Future AI Workloads 29:43 BlueField DPUs and the AI Factory 32:55 Making AI Agents Safer 35:37 What Mellanox Could Have Done Differently 37:03 NVLink, InfiniBand, and Spectrum-X 39:24 Connecting AI Factories at Planetary Scale 42:42 Keeping Massive AI Systems Running Through Failures
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  18. Nick Dorsey✓@Midnight_Captl
    This is my conversation with Michael Kagan, the founder of Mellanox and current CTO of NVIDIA We speak about his life, the progression of networking over the span of his career, and how the work that NVIDIA is now doing to build "Planet scale" computing I hope you enjoy the conversation as much as I did 00:00 Highlights 01:16 Growing Up in Russia and Moving to Israel 03:42 Intel, the PC Revolution, and a Passion for Technology 06:14 Sponsor: Liquid 06:33 Lessons from Intel: Software and Networking 10:10 Founding Mellanox and the Vision for Cloud Computing 14:34 From Supercomputers to the Cloud 17:46 How GPUs Sparked the AI Revolution 20:52 Sponsor: Compute Exchange 21:14 NVLink and the Rise of Rack-Scale Computing 24:57 The Engineering Challenges Behind NVL72 27:39 Designing Hardware for Future AI Workloads 29:43 BlueField DPUs and the AI Factory 32:55 Making AI Agents Safer 35:37 What Mellanox Could Have Done Differently 37:03 NVLink, InfiniBand, and Spectrum-X 39:24 Connecting AI Factories at Planetary Scale 42:42 Keeping Massive AI Systems Running Through Failures
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  19. FUNDA✓@FundaAI
    This chart is very interesting. Several of these companies were frequently mentioned in our survey of 31 companies.
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    FUNDA @FundaAI
    Channel|Quarterly SaaS Winners and Losers Tracker 3Q26 We’re launching a new series on how advances in AI are affecting SaaS companies and their growth prospects. For this first issue, we spoke with 31 companies, and we will share below their views on who are the winners and losers in the agentic AI era. We’d welcome your feedback and suggestions on our coverage. If there is a SaaS/ software name that you are interested in learning more — share their names here (it takes about 30 seconds). Your input will help shape our research for the next quarter! Btw, we’ve also prepared a downloadable slide deck if you prefer that format. Contact sales@funda.ai if you have any questions on our institutional offerings. Detailed Report
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  20. FUNDA✓@FundaAI
    Channel|Quarterly SaaS Winners and Losers Tracker 3Q26 We’re launching a new series on how advances in AI are affecting SaaS companies and their growth prospects. For this first issue, we spoke with 31 companies, and we will share below their views on who are the winners and losers in the agentic AI era. We’d welcome your feedback and suggestions on our coverage. If there is a SaaS/ software name that you are interested in learning more — share their names here (it takes about 30 seconds). Your input will help shape our research for the next quarter! Btw, we’ve also prepared a downloadable slide deck if you prefer that format. Contact sales@funda.ai if you have any questions on our institutional offerings. Detailed Report
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  21. FUNDA✓@FundaAI
    Preview| $DDOG 3Q26: Constructive Checks, Enterprise AI Supports Core Demand and Consolidation Gains DDOG’s 3Q26 setup remains constructive. Our repeat channel checks point to healthy demand with some seeing acceleration and above-plan performance. Existing-customer expansion is improving, new customers are buying more modules at entry, and enterprise AI deployments are creating additional demand for infrastructure monitoring, application tracing and logs. We see this as a broadening of the core observability opportunity, with DDOG also gaining share as customers consolidate fragmented toolsets and migrate from incumbent platforms. AI-native demand also remains healthy as our check suggests its largest AI customer’s usage has stabilized and resumed growth following its renewal and the guidance reset. This supports a recovery in DDOG ARR from that customer, although recognized revenue lags and is expected to decline initially. Meanwhile, continued training demand from other AI-native customers supports strong momentum into 4Q despite moderation at the other large LLM customer. Budget discipline, logging optimization and uneven partner execution remain relevant. Overall, we expect DDOG could deliver 36% YoY revenue growth in 3Q26, beating guidance by 5–6 percentage points and meeting buyside expectations. We expect the high end of 4Q26 revenue guidance to imply 30–31% YoY growth, effectively signaling stable sequential revenue growth despite a roughly 3-percentage-point tougher comparison. Detailed Report
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  22. FUNDA✓@FundaAI
    Come to @TomorrowXSummit in Austin November 17-18.
    Gavin Baker @GavinSBaker
    Come to @TomorrowXSummit in Austin November 17-18. We have Jensen Huang, Lisa Su, Lip-Bu Tan, Marc Rowan, David Solomon, Jon Grey and so many more great speakers - I think we are approaching 100 CEOs across three stages at this point. I get emails every day asking for an invitation - this is your invitation! Anyone can sign up but note there will be a security screening and super-tight security at the stadium.
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  23. Gavin Baker✓@GavinSBaker
    Come to @TomorrowXSummit in Austin November 17-18. We have Jensen Huang, Lisa Su, Lip-Bu Tan, Marc Rowan, David Solomon, Jon Grey and so many more great speakers - I think we are approaching 100 CEOs across three stages at this point. I get emails every day asking for an invitation - this is your invitation! Anyone can sign up but note there will be a security screening and super-tight security at the stadium.
    Download
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  24. FUNDA✓@FundaAI
    Recent relief in AI credit markets was driven by Meta’s financing choice (equity instead of debt), which reduced expected bond supply. Meta’s CDS tightened ~15bp off the highs, and the sector followed ($ORCL tighter by ~22bp, $CRWV by a much larger ~110bp). Related equities confirmed the relief: neoclouds rebounded sharply from the 23 October lows (CoreWeave ~+10% to 27 October, with similar moves in $IREN, $WULF, etc.) Our AI CDS dashboard is free for all to use:
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  25. FUNDA✓@FundaAI
    $BUG is now outperforming $SOXX at more than 75% YTD. Our cybersecurity analysts comment on the potential AI model revenue from cybersecurity and how the security market could be divided between AI labs and incumbent security platforms like $CRWD.
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  26. FUNDA✓@FundaAI
    Preview| $PLTR 26Q3: FDE Capacity Becomes Key to Scaling Enterprise AI, Deployment Demand Picks Up Enterprise AI budgets continue to grow, but progress from pilots to scaled deployments remains uneven. Customers are increasingly focused on tangible business returns, with projects that improve costs, efficiency, or decision-making more likely to secure continued funding. FDEs play a central role in integrating AI into existing business workflows, but the limited supply of experienced engineers and the difficulty of replicating project expertise remain constraints on broader adoption. As more vendors build out their FDE teams, competition is extending beyond model capabilities to deployment expertise. Palantir has an advantage in executing complex projects and drawing on its accumulated deployment experience. For 26Q3, we expect U.S. commercial revenue to maintain strong growth, with a modest pickup in U.S. government revenue growth. We forecast total revenue of approximately $2.319bn, around 7% above the high end of company guidance. Detailed Report
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  27. FUNDA✓@FundaAI
    A lot of people are talking about this chart. It may be the biggest takeaway from Anthropic’s S-1.
    FUNDA @FundaAI
    58/ Cash and funding Money raised: ~$140B in cash from 2023 through H1'26 (preferred stock + convertible notes + SAFEs, per the S-1 cash flow statements). $110B of that came in H1'26 alone, including the $65.2B Series H. Cash left at 6/30/26: $112.4B cash & equivalents + $19.3B short-term investments = ~$132B (plus $2.5B restricted cash). Additional capacity: $15B undrawn revolver (expanded Sep'26), and up to $77B of partner note facilities (Google $20B, Amazon $15B tied to compute milestones, Broadcom $42B only to pay lease rent). IPO proceeds come on top. How that compares (cash & liquid investments at 6/30/26, gross, before debt): Alphabet: $242B Anthropic: $132B Amazon: $123B Meta: $90B Microsoft: $77B Tencent: ~$75B (RMB511B) Alibaba: ~$70B (RMB475B) Anthropic is holding more cash than Amazon, Meta or Microsoft. But SpaceXAI alone runs ~$37B a year from Dec'26, against ~$780-810B of total compute commitments.
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  28. FUNDA✓@FundaAI
    58/ Cash and funding Money raised: ~$140B in cash from 2023 through H1'26 (preferred stock + convertible notes + SAFEs, per the S-1 cash flow statements). $110B of that came in H1'26 alone, including the $65.2B Series H. Cash left at 6/30/26: $112.4B cash & equivalents + $19.3B short-term investments = ~$132B (plus $2.5B restricted cash). Additional capacity: $15B undrawn revolver (expanded Sep'26), and up to $77B of partner note facilities (Google $20B, Amazon $15B tied to compute milestones, Broadcom $42B only to pay lease rent). IPO proceeds come on top. How that compares (cash & liquid investments at 6/30/26, gross, before debt): Alphabet: $242B Anthropic: $132B Amazon: $123B Meta: $90B Microsoft: $77B Tencent: ~$75B (RMB511B) Alibaba: ~$70B (RMB475B) Anthropic is holding more cash than Amazon, Meta or Microsoft. But SpaceXAI alone runs ~$37B a year from Dec'26, against ~$780-810B of total compute commitments.
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