To The Moon

Anthropic’s growth is entering territory rarely seen in enterprise software. The company’s annualized run-rate revenue reportedly surged from around $9 billion at the end of 2025 to more than $65 billion by July 2026, an increase of over 620% in just seven months. Much of that momentum has been driven by enterprise adoption of Claude and the rapid expansion of Claude Code. In February, Anthropic said more than 500 customers were spending over $1 million annually. By April, that figure had already doubled to more than 1,000. The growth has transformed Anthropic’s valuation too. After being valued at $380 billion in February, the company raised $65 billion at a reported $965 billion valuation in May and later filed confidentially for a US IPO. Run-rate revenue annualises the latest sales

$英偉達(NVDA)$Nvidia has now beaten revenue expectations for ten consecutive quarters, but the size of the surprise is narrowing. Revenue climbed from roughly $27 billion in 2023 to around $68 billion in the latest quarter, while the average beat across the period stood at 4.1%. However, the latest result came in just 3.4% above consensus, compared with an 8.4% beat at the start of the streak. With expectations continuing to rise alongside revenue, can $NVDA keep delivering the upside surprises investors have grown accustomed to?

$英偉達(NVDA)$NVIDIA’s equity portfolio quadrupled to $63.4 billion in Q2, despite making no trades. ◾ Intel $英特爾(INTC)$ : $30.0B ◾ SpaceX $SpaceX(SPCX)$ : $21.0B, disclosed for the first time following its IPO ◾ CoreWeave $CoreWeave, Inc.(CRWV)$ : $4.7B ◾ Coherent Corp.: $3.1B Intel remains NVIDIA’s largest holding, while SpaceX now accounts for a third of the portfolio.

The Last Look at Situational Awareness Before the Blow-Up This chart now looks like a snapshot taken just before everything changed. Situational Awareness, the AI-focused hedge fund run by former OpenAI researcher Leopold Aschenbrenner, reported a $20.2B U.S. equity portfolio at the end of Q2, up 48% quarter over quarter. The concentration was extreme. Sandisk $閃迪(SNDK)$ and Micron Technology $美光科技(MU)$ alone represented 55.5% of the disclosed book, with Bloom Energy, TSMC and Nebius adding another sizeable chunk. Reported leverage had reached as high as 4x. Then July happened: a sharp reversal across several of those positions triggered severe margin pressure, forcing Situational Awareness to unwind it

$亞馬遜(AMZN)$Amazon’s bet on Anthropic is paying off. The value of its stake surged 214% in just three quarters, climbing from $60.6B to $190.4B.That’s nearly $130B in added value as the AI race accelerates. 📈

$蘋果(AAPL)$Berkshire Hathaway’s equity portfolio reached $299.3B in Q2 2026, up 13.7% quarter over quarter. 📈Apple remains its largest holding at 22%, followed by American Express at 17.1% and Alphabet Inc. at 12.6%.Together, Berkshire’s five biggest positions account for nearly 72% of the portfolio. Concentration over diversification? 👇 $微軟(MSFT)$

$SpaceX(SPCX)$SpaceX Just Picked a Side in the AI Chip Race The battle for AI infrastructure spending is increasingly becoming a battle over which chips power it. SpaceX has now made its choice clear. Elon Musk said the company will build its AI computing platform exclusively on NVIDIA $英偉達(NVDA)$ , calling the Vera Rubin architecture the best AI computer available. SpaceX also expects to receive a significant share of NVIDIA’s GPU output next year as it rapidly expands its compute capacity. The announcement lands at an awkward moment for AMD $美國超微公司(AMD)$ . Its shares fell sharply despite reporting record quarterly revenue, while NVIDIA gained as investors di

$微軟(MSFT)$Microsoft and Amazon $亞馬遜(AMZN)$ Led AI Spenders in July July suggests investors are not turning against AI spending. Microsoft gained 20.9% and Amazon 12.4%, despite both deploying enormous amounts of capital. The difference is that their capex intensity remains relatively modest compared with some peers: roughly 5% of market value for Microsoft and 9% for Amazon. Move higher up the chart and the picture changes. Meta, with capex equivalent to around 13% of its market value, fell 9.2%. Oracle sits near 24% and lost 8.5%. Alphabet Inc. provides another contrast: one of the largest absolute spenders, but only around 6% relative to its valuation, finished July roughly flat.

$微軟(MSFT)$Microsoft and Amazon Led AI Spenders in July July suggests investors are not turning against AI spending. Microsoft gained 20.9% and Amazon 12.4%, despite both deploying enormous amounts of capital. The difference is that their capex intensity remains relatively modest compared with some peers: roughly 5% of market value for Microsoft and 9% for Amazon. Move higher up the chart and the picture changes. Meta, with capex equivalent to around 13% of its market value, fell 9.2%. Oracle sits near 24% and lost 8.5%. Alphabet Inc. provides another contrast: one of the largest absolute spenders, but only around 6% relative to its valuation, finished July roughly flat.

$SpaceX(SPCX)$SpaceX Shrugs Off Its First Lockup Expiry SpaceX has bounced sharply despite one of the biggest supply tests since its IPO. Around 911.5M insider-held shares became eligible for sale on August 6, more than doubling the potential public float. But the wave of selling some investors feared has yet to materialise. Instead, $SPCX jumped nearly 16% on Friday and another 4.2% on Monday, closing at $138.74, back above the psychologically important $135 IPO price for the first time in nearly a month. The first unlock is now behind SpaceX, but not the supply story. Another tranche of restricted shares is due to become eligible later this month, giving investors another test of demand.