To The Moon

AI has entered a full-scale infrastructure build-out phase. We expect annual AI-related infrastructure spending to exceed US$400–500 billion by 2026, driven by accelerated data-centre construction, higher-density compute requirements, and rising power and cooling needs. At this level, AI infrastructure investment approaches ~2% of US GDP, placing it alongside past general-purpose technology cycles such as cloud computing and telecommunications. However, this remains a front-loaded capital cycle. Cash outflows precede revenue, and monetisation remains uneven across sectors. For current equity valuations to be sustained, the AI ecosystem must ultimately generate US$1.7–2.5 trillion in incremental annual revenue by the end of the decade. As infrastructure spending accelerates into 2026, balan

Can the market still go up in 2026?” pushes us to look at the wrong things. It makes us focus on forecasts, on headlines and on timing.If a company keeps moving forward, the share price eventually tends to follow. That said, it doesn’t mean we should rush in blindly either. Investing still requires thought and discipline. A simple way to avoid emotional decisions is to pace yourself by investing steadily over time, especially if you are unsure. Another is to take the time to understand the business you are buying so you know exactly why it deserves a place in your portfolio. These habits keep you consistent without reacting to every price movement. In my earlier investing years, I spent a lot of time waiting. I waited for dips that never came. I waited for more confidence. I waited for the

If you only want AI exposure, china stock like Ping An’s version is cleaner. Take Cambricon, for example—it’s an important AI player in China and an AI stock that shouldn’t be missed.AI is hot—not just in the West but also in China. It’s a race to be first, and China has an additional task: building world-class AI capabilities using its own supply chain. That’s a tall order, but we’ve seen companies stepping up and showing sparks of brilliance. The potential is there. If you prefer to focus on chips and equipment players, then the Global X China Semiconductor ETF would be more suitable. The Ping An CSI AI ETF is less heavy on chips and instead captures the wider AI value chain. In terms of performance, the Ping An CSI AI ETF trounces the Global X China Robotics and AI ETF over the past yea

Alphabet’s capex in 4Q2025 was up 95% from a year ago to US$27.9 billion, with capex for the whole year of 2025 reaching US$91.4 billion. As GCP’s backlog grows – it was up 55% sequentially to US$240 billion in 4Q2025 – Alphabet’s capex in 2026 is projected to be US$175 billion to US$185 billion, around double from 2025’s level. Alphabet is seeing broad-based demand for its AI offerings such as its latest Gemini models and Ironwood TPUs. Despite the sharp increase in capex, Alphabet is driving efficiencies through the proliferation of AI across its business's  Overall, among Alphabet’s AI-powered products and services, 14 products were observed to have annual revenues exceeding US$1 billion, reflecting material adoption of the company’s AI offerings.

UnitedHealth was already making headlines in 2025. The blue chip—and largest US health insurer, accounting for roughly 30% of Medicare Advantage enrollments—has been seeing higher medical claims. Investors started worrying about thinning margins and the potential need to raise insurance premiums. But here’s the problem: recent 2027 Medicare Advantage plans will rise by just 0.09%, far lower than the expected 6%. This means premiums (i.e., revenue) can’t rise while costs keep climbing. The business simply isn’t as lucrative as before. It dragged many health insurer stocks down. Finally the  stock  looks undervalued based on our estimated fair price of $372. But our concern is that with meek revenue growth outlook, declining profitability, and restructuring adding uncertainties, we

Since the 2020s, Jensen’s strategy has been to make Nvidia the AI factory—selling the whole stack of AI compute: GPU + interconnect + systems + software. The rest is history. Jensen was the boss from day one and has led the key strategic pivots that made Nvidia what it is today. Going forward, his strategy is to make Nvidia the default industrial standard for building, running, and scaling AI—hardware + networking + software + delivery model—so competitors don’t just have to beat a chip; they have to beat an ecosystem and an upgrade rhythm. Jensen was born in Taipei, Taiwan. At age 9, his parents sent him to the U.S. for education and long-term opportunity, seeing America as a better place to build a future. trained as an electrical engineer and worked at LSI Logic and AMD before co-foundi

After initially threatening the use of force to take control of Greenland, Trump later said he and NATO Secretary General Mark Rutte “have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region.” He did not commit to the specifics of the deal, but in a separate interview with CNBC suggested that it would last “forever” and include mineral rights. Earlier Trump had said he wanted immediate negotiations on Greenland, a place of strategic importance to the U.S. for security purposes. That came after Trump’s Saturday Truth Social post, where he threatened to impose a 10% tariff on goods sent to the U.S. from Denmark, Norway, Sweden, France, Germany, U.K., Netherlands, and Finland starting Feb 1. For the week, the S&P 500 lost 0.4%, while the

So far, Salesforce’s AI business is still strong. During its recent earnings call, management said its Agentforce has completed a total of 18,500 deals in 3QFY2026, up 48% compared to the previous quarter. 51% of them were paid transactions. Over the past decade or so, Salesforce shares have returned over 5,400% to shareholders.Salesforce, which is one of the world’s largest enterprise software companies focused on CRMs, continues to produce growing revenues and gushing plenty of free cash flow. Finally some of these high-quality software companies have been producing strong profitability, reflecting resilience against the march of the AI onslaught.

Europe is still deliberating how to respond, but they’re leaning toward retaliation rather than capitulation. We expect European stocks to take a hit. But this could be an opportune time to buy strong companies—this tariff threat might just time. For example, the recently announced partnership between Apple and Google to bring Gemini into products like Apple Intelligence and Siri is one way to keep investors on board, even at higher valuations.  Alphabet will also want to show progress on its other bets, such as Waymo, so that some can start contributing to operating income.  Trump is playing his tariff game again—this time targeting countries that oppose the US takeover of Greenland. Mostly European nations. He’s threatened a 10% tariff starting February 1st on goods from Britai

As the most powerful and integrated AI company among the Magnificent 7—one that stands to benefit most from the AI era—it’s not outrageous to say Alphabet could claim the top spot. A $5 trillion market cap? Justified. Even beyond. To be clear: this isn’t an invitation to buy Alphabet stock. The stock is overvalued at this point. And even if it does hit a higher market cap, it won’t be a smooth journey—it may take longer than hoped. This is simply my view on why Alphabet should be the largest company in the world.