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Next edition in 288 min Nov 10, 2026, 09:00-16:00 Lisbon
Premarket Alpha Midday Alpha
Daily Alpha Midday Alpha by Buzzberg Research

What changed since premarket

October CPI rose 0.4% with core at 0.3% after Waller backed a December hike; Anthropic launched a $70-78 IPO roadshow; a report tied Huang's relationship to $7.5 billion of China chip shipments; SoftBank posted a $7 billion loss.

Main narratives

day change
01

October CPI rose 0.4% and core 0.3%, above forecasts, after Waller backed a December hike and raised a 50-basis-point move

October CPI rose 0.4% month over month and core 0.3%, against expectations of 0.3% and 0.2%, per @draikotrading; Bloomberg's Michael McKee pointed to gains in food, gasoline, diesel and electricity. Before the release, Fed Governor Christopher Waller backed a December rate hike and raised the possibility of a 50-basis-point increase if inflation worsens, and markets priced a 99% chance of a December hike, per DeItaone. Mohamed El-Erian noted the 10-year yield jumped to 4.95%.

TLT -1.6%
02

Anthropic launched its IPO roadshow at $70-78 a share for up to $64.35 billion as annualized revenue reached $81 billion, per @stocksavvyshay

Anthropic is offering 825 million Class A shares at $70-78 for a Nasdaq listing under ANT, raising up to $64.35 billion, plus a $26 billion cornerstone placement from AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC partners, per DeItaone. @stocksavvyshay says its annualized revenue run rate jumped $10 billion in October alone to $81 billion. Jukan notes the S-1 shows Q2 operating income of $970 million turning into a $570 million Q3 operating loss.

AMD +0.1% · AVGO +2.1% · GOOGL -0.5% · MU -3.5%
+2 more MSFT -2.7% · NVDA -6.2%
03

The Information reports Huang's alleged relationship aided at least $7.5 billion of Nvidia chip shipments to China, and Wells Fargo cut its target to $300

Per The Information, relayed by DeItaone, Jensen Huang's alleged relationship with a Chinese businesswoman suspected of spying facilitated at least $7.5 billion in chip shipments; Reuters could not verify the claims. Wells Fargo cut its target to $300 from $315, citing key-person risk but little threat to AI demand. BofA removed Nvidia, Micron and Lam Research from its US 1 List while keeping Buy ratings. Rep. John Moolenaar is seeking a closed-door briefing with Huang.

NVDA -6.2% · MU -3.5% · LRCX -0.1%
04

SoftBank swung to a $7 billion quarterly loss including a $3.7 billion charge on revised US AI data-center plans, and its CFO denied a turbine default

SoftBank's quarterly loss compares with a $16 billion profit a year earlier; financing costs more than doubled and it raised $5 billion through loans backed by Arm shares, per DeItaone. CFO Yoshimitsu Goto said it is only natural that there is discussion about waiting and seeing for a while. @aleabitoreddit relays Goto calling Elon Musk's claim that SoftBank is defaulting on turbine orders "simply not correct at all".

SFTBY +0.2% · ARM -4.8%

Themes of the session

?
Z-score shows how far this edition's mention count is above or below the theme's own average across 20 comparable earlier editions. +2.7σ means mentions are 2.7 standard deviations above that average — simply, the theme is being mentioned much more often than usual. It measures attention, not bullishness or expected return. Themes need at least 8 posts; gold begins at +2σ, and σ is hidden when history is too thin.
Gaming & Entertainment +4.9σ
SE +2.1% · TTWO +6.7%
13 posts 10 voices base 3.0
GLP-1 / Obesity +3.7σ
HIMS -19.0% · VKTX +1.9% · LLY +0.7%
22 posts 13 voices base 4.9
Software & SaaS +2.9σ
ZETA +6.9% · IBM -0.8% · TTD +2.8%
+16 more DT — · ADBE — · NOW — · 039980.KQ — · 064400.KS — · 018260.KS — · U — · WIX — · AEYE — · MEI — · GTLB — · MDB — · APP — · DVLT — · RZLV — · PLTR —
36 posts 25 voices base 15.8
Space +2.3σ
RKLB +2.2% · SPCX — · FLY -3.0%
+1 more LUNR —
31 posts 18 voices base 13.7
Equity Indexes +1.4σ
QQQ -1.4% · SPY — · SPX —
+20 more ES=F — · NQ — · ES — · EWY — · COMPQ — · VGK — · IWM — · ^KS11 — · ^GSPC — · VT — · FXI — · VOO — · VTWO — · SCHD — · NDX — · NASDAQ — · VYM — · VTI — · VXUS — · IWB —
92 posts 43 voices base 55.4
AI Compute +0.9σ
NVDA -6.2% · AMD +0.1% · CBRS -5.2%
110 posts 59 voices base 55.8
Commodities +0.8σ
USO — · GLD -2.9% · BNO -1.0%
+4 more WTI — · GOLD — · SILVER — · CPER —
33 posts 25 voices base 23.6
Defense +0.2σ
ONDS -6.7% · HAG.DE +1.4% · MRCY +6.4%
+2 more ESLT — · AXON —
10 posts 8 voices base 8.4
Construction & Infrastructure +0.1σ
PEPG — · HROW +11.0% · 0066.HK +0.3%
+4 more REZI — · WCC — · ULCC — · CAT —
9 posts 9 voices base 8.4
Capital Markets -0.0σ
SFTBY +0.2% · 9984.T +13.9% · 402340.KS +5.3%
+4 more ASST — · DNB — · GS — · MS —
11 posts 10 voices base 11.1
Pharma & Biotech -0.1σ
LQDA +0.0% · TGTX +4.7% · COLL -1.8%
+10 more AXSM — · 068270.KS — · 207940.KS — · 196170.KQ — · RNA — · ZURA — · AMGN — · GMAB — · KOD — · IAM —
15 posts 6 voices base 15.7
NeoCloud -0.2σ
NBIS -6.7% · IREN -9.7% · CRWV -2.5%
+1 more APLD -2.6%
34 posts 21 voices base 37.5
Chip Manufacturing & Equipment -0.2σ
TSM +0.1% · LRCX -0.1% · 036930.KQ +7.5%
+10 more ICHR — · AMAT — · ENTG — · COHU — · 3443.TW — · ONTO — · GFS — · ASML — · INTC — · TER —
22 posts 15 voices base 26.6
Networking & Photonics -0.4σ
AAOI -9.7% · COHR -7.4% · LWLG -11.6%
+8 more OUST — · SIVE — · LITE -2.6% · WYFI — · CSCO — · ALMU — · CRDO — · GLW —
18 posts 12 voices base 24.0
Positioning Market Radar →

Buying / adding

3 positions · 3 voices

Selective / waiting

1 positions · 1 voices

Fading / not buying

2 positions · 2 voices
YouTube
22 videos · 18h 24m Fed Governor Christopher Waller backed a December hike ahead of October CPI, which came in at 0.4% headline and 0.3% core, and Rep. John Moolenaar is seeking a briefing from Nvidia's CEO. Open the desk →
X
1748 posts Open the desk →
Reddit
210 threads Reddit split on Nvidia between a disclosed share buy and a long-dated put, while other posts covered Applied Digital financing, Zeta's results and oil majors. Open the desk →
Substack
5 letters QTR's Fringe Finance argued the Nvidia story may not end with the affair and warned against reading the bounce as a bottom, while Nonconsensus tracked Asian exporters tied to US AI spending. Open the desk →