Author: Henry Kanapi

Morgan Stanley is telling investors that the AI infrastructure buildout has entered a new phase, one where the bottleneck is no longer just graphics processing units (GPUs). In a new episode of the bank’s Thoughts on the Market podcast, Shawn Kim, Morgan Stanley’s head of Europe and Asia Technology Research, says the AI use case is transitioning from chatbots to agents, shifting hardware requirements from GPUs to central processing units (CPUs). According to Kim, CPUs allow AI agents to remember instructions, understand user preferences, work across digital tools, plan workflows and adapt as circumstances change. “Agentic AI also depends on…

ARK Invest says Bitcoin conviction buyers have taken advantage of BTC’s plummet in Q1 of this year, gobbling up more coins as other investors panicked. In the firm’s latest The Bitcoin Quarterly report, analysts led by David Puell say the supply owned by Bitcoin conviction buyers, or long-term investors who aggressively accumulate during price declines, has risen to a level not seen in six years. According to the analysts, the rise in BTC ownership among the cohort was particularly notable in February when Bitcoin printed a 2026 low at $60,000. “Supply held by conviction buyers surged from ~2.13 million BTC…

The head of research at Fundstrat Global Advisors says a specific and underappreciated investment opportunity has emerged following the market pullback that started in Q1 of this year. In a new CNBC interview, Tom Lee says software is now one of his top picks, as investors back away from the sector amid fears of AI disruption. But Lee notes that many software companies have great leadership, and they will likely use AI to boost their business. “I know that investors are correctly thinking that they should question the durability of these software models over time. But many of these companies…

Morgan Stanley’s chief investment officer says the current earnings season is revealing a market that is significantly stronger and broader than most investors appreciate. In a new episode of the bank’s Thoughts on the Market podcast, Mike Wilson says the breadth of earnings strength is changing the market’s complexion in a meaningful way. While hyperscalers and semiconductors are still playing a leading role, Wilson notes that the story has moved well beyond the usual names. “When I look at this reporting season, what stands out isn’t just resilience, it’s strength that’s broader than most people appreciate. The typical company in the…

Venture capital firm Andreessen Horowitz (a16z) says it is seeing similarities between the mobile-tech and AI cycles, particularly in the way investors are placing their bets. In a new edition of the firm’s Charts of the Week, a16z cites data from Morgan Stanley Research and FactSet to illustrate how semiconductor and infrastructure names led the market during the mobile era from 2010 to 2015. According to the venture capital firm, it took many years before software emerged as a market leader. “During the mobile-tech cycle, it took about 5 years for software to emerge as the clear market leader. Before…

Billionaire investor Mark Cuban says AI has created an unavoidable binary for every business operating today, and that the companies that fail to get it right will not survive. In a new post on X, Cuban says he has spotted AI’s biggest weakness, noting that companies that actively and consistently address the issue will likely come out on top. “I’m coming to the conclusion that the biggest challenge for Enterprise AI, and AI in general, as of now, is that it’s still impossible to make sure that everyone gets the same answer to the same question, every time, which is…

JPMorgan Chase chief economist Bruce Kasman is warning that the ongoing conflict in the Middle East is creating the conditions for an unpredictable and potentially runaway surge in oil prices. In a new CNBC interview, Kasman says the economy is caught between improving labor market fundamentals and a building energy price drag that could ultimately force the Fed’s hand in a direction most investors are not expecting. Looking at oil, Kasman warns that he sees prices spiking rapidly if the Strait of Hormuz remains closed. “As we continue to keep the Strait closed, we’re starting to draw down inventories. We’re…

The CEO of the tech-focused firm Altimeter Capital says the firm has exited Microsoft (MSFT) and is rotating proceeds into a trio of AI hardware plays. In a new CNBC interview, Brad Gerstner says Altimeter’s decision to drop Microsoft is a capital allocation decision rather than a loss of conviction in the company’s leadership. “We’ve owned Microsoft a lot over the course of the last few years. I think Satya [Nadella] and Amy [Hood] are doing a terrific job. And we’ll own Microsoft again. But you have to make choices in this market. We only have so much capital.” Gerstner…

Famed short-seller Michael Burry is unveiling his top market holdings, making a contrarian bet on software names at a moment when the sector is widely feared to be under existential threat from AI. In a Substack post, Burry says that the sell-off in software is being driven by mounting pressure in private credit rather than widespread fears about AI disruption, reports the macro analysis X account The Assembly. According to Burry, AI disruption fears are overblown, and none of his software picks rely on private credit. Data shows that Burry is accumulating more shares of Salesforce (CRM), a software name…

The analyst who accurately called the market bottom on March 30th says he believes one sector is poised to lead the next leg higher alongside two of his existing top picks. In a new CNBC interview, Tom Lee says the red-hot market rally in the past few weeks is being fueled by strong fundamentals alongside moderating risks. “The market’s rising for the right reasons because it’s rising because the tail risks are abating. We’ve had good fundamentals. In fact, earnings have been good enough that estimates are going up. And the leadership is coming from the groups that we want…