It was another solid session for the market yesterday, which has now relegated the often-conflicting news stories about the Iran Conflict to background noise.

It's all about megacap tech, the individual niches under the artificial intelligence (AI) umbrella… and space trade. Some of the individual moves have left me speechless.

Mountains of Cash

We upped the ante on spending estimates yesterday, with a 7.6 trillion-dollar price tag for aggregate AI capital expenditures (CapEx) spending.

It's time to stop calling it a gold rush, as there has never been a stampede like this in the past, except maybe the railroads in the late 1800s. 

Factors

The most glaring factor was low volatility, underscoring that nobody wants to buy or hold safety.

After the Close

Shares of Dell Technologies (DELL) erupted higher after the close on great earnings and guidance.

Today’s Session

Major indices are starting the day off with a move into the green.

Rosenblatt issued a report yesterday stating Nvidia (NVDA) asked their suppliers to increase InP (Indium Phosphide) capacity 20X. However, the suppliers balked and can do 12X, demonstrating the bottleneck.

Meanwhile, reports are circulating that ByteDance is looking to develop a custom CPU for AI inference.

Space names are seeing some profit taking following their recent run up. The Blue Origin’s New Glenn rocket explosion during a test fire could also be adding pressure in the sector.

Comments

My biggest challenge is trying not to be tooooo greedy:) For me taking profits is much more difficult that taking/limiting losses!! gary hulen on 5/29/2026 10:26:32 AM

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