James Altucher:

What Is Kimi K3? The Chinese AI Model That Has Wall Street Talking

The markets are having a "Kimi moment", similar to when DeepSeek was released in early 2025. Kimi K3 is the latest open source AI model out of China (interestingly, it first came out the box saying, "Hi, I'm Claude", suggesting that it trains on Claude data it steals). Kimi is good. Very good.

And so people are worried: Will there be the same demand for data center buildouts if open source models are just grabbing the trophies? They had the same worry in January 2025 when DeepSeek came out.

The answer is: Demand will be greater than ever. When a technological commodity becomes more efficient, people think of more applications for it. The same selloff happened with DeepSeek, the first open source AI model out of China. Guess what? Capex went up every quarter since then.

And just because someone trained a model more efficiently, doesn't mean demand for inference goes down. If demand goes up, then the need for GPUs, CPUs, interconnects, etc go up.

Meanwhile, land purchases, power purchase agreements, GPU sales, memory sales, interconnect sales, etc are already contracted out through 2029.

This Kimi Moment will mirror the DeepSeek moment of early 2025. Everyone will reiterate capex. Money will be exchanged. Chips will be bought. Stocks will flourish.

⇒ Read More Here

Ray Blanco:

SpaceX Suddenly Aborts Second Starship V3 Launch After Ignition

SpaceX abruptly aborted the second attempted launch of its upgraded Starship rocket system on Thursday, just moments after the booster ignited at the company’s complex in South Texas.

CEO Elon Musk said on his social media platform X that “[s]ome of the engines didn’t start, triggering an automatic launch abort” and that the company will replace two of them. SpaceX won’t try to launch Starship again until next week, he wrote.

SpaceX was hoping to launch its first third-generation Starlink satellites into space – although they are supposed to burn up around 20 minutes after deployment, as Starship has not yet demonstrated the ability to reach Earth orbit.

This is also SpaceX’s first Starship test launch attempt since it went public on June 12 in the largest IPO in history. The company raised more than $85 billion in the transaction and briefly touched the valuations of Amazon and Microsoft, though its stock has steadily fallen over the intervening month.

On Thursday, SpaceX’s stock price closed below its IPO price of $135. Its stock sank more than 4% in after-hours trading after the aborted launch.

⇒ Read More Here

Chris Campbell:

CRCL: The Teacher's Pet Stumbles

Circle, America’s stablecoin golden child, did everything right.

First BitLicense, 2015. Monthly Deloitte attestations, on time, every month. First major issuer licensed under Europe's MiCA. Lobbied for the GENIUS Act and won it. Took a national trust bank charter from the OCC on July 10th.

And yet… the stock is down 79% from its peak.

Tether, the global king of stablecoins, is offshore. Grey market. No U.S. listing. It publishes when it feels like it. Europe delisted it and it kept growing.

Tether is $184 billion to Circle's $77 billion. It runs on roughly 150 people and cleared over $10 billion in profit last year – about $66 million a head, likely the highest figure any company has ever posted. Apple gets $600,000.

But the reality is that Circle is playing a longer game than anyone else in the room.

Click the link below to read three reasons why Circle is getting pummeled, why I still want it, and three reasons why I'm not buying… yet.

⇒ Read More Here