Interestingly, 8 of the 10 largest companies by market value worldwide are based in the United States.

Investors are steadily pouring funds into ETFs, with 188 of them in the U.S. now holding over $10 billion in assets, and 13 surpassing the $100 billion mark.

Collectively, the 188 ETFs with more than $10 billion in assets manage a total of $8.7 trillion. Meanwhile, the 13 largest ETFs, each with assets exceeding $100 billion, account for a combined $3.7 trillion.

Much like how a few mega-cap stocks dominate the S&P 500, these "mega-ETFs" hold a commanding position in the ETF landscape. Below is a breakdown of the largest US listed ETFs, including their performance so far this year and their expense ratios.

Betting platform Polymarket shows growing confidence among traders that Google will lead the AI race by the end of 2025, with its odds rising to 59%, a sharp increase from under 30% in March. Despite growing attention from competitors, no recent developments have disrupted this upward trend.

Google’s edge appears to lie in its unmatched training data, powerful Tensor Processing Units (TPU) accelerated cloud infrastructure, and world-class research team, an advantage that becomes increasingly evident as its models scale through Google Cloud Platform (GCP).

TPUs are Google’s custom-designed chips built specifically to accelerate AI workloads, enabling faster and more efficient training and deployment of large models compared to traditional hardware. GCP, meanwhile, is a comprehensive suite of cloud services that includes computing, storage, databases, machine learning, and networking, all delivered over the internet. It allows businesses to build, deploy, and scale applications without managing physical infrastructure, making it a powerful vehicle for distributing and monetizing AI models.

Melius analyst Ben Reitzes asks a compelling question: What if semiconductors are the “new oil”? If chips become as vital to the global economy as oil was in the 1980s, the current surge in semiconductor stocks could be just the beginning. At present, semiconductors represent about 12.1% of the S&P 500, while energy stocks once peaked at roughly 30% of the index in 1980. Today, energy makes up only 3%. The takeaway? If chips follow a trajectory similar to oil during its peak, both their market share and valuations could rise significantly.

Bitcoin’s 60-day correlation with US 10-year Treasury futures has dropped to its lowest level ever recorded.

Back in 1965, a Porsche 911 was priced at $6,500. Today, the average model costs around $120,100, an 18.5x increase. Meanwhile, gold has surged from $35 per ounce to over $3,000, marking an 86x rise.

Guess who won the inflation race?

Here’s how the Porsche/Gold Ratio:

• 1965: 186 oz
• 1980: 45 oz
• 2000: 235 oz
• 2025: just 40 oz

In gold terms, the 911 is way cheaper today than in 1965.

The lesson: gold preserves purchasing power.

According to betting platform Polymarket, the current odds for who will be announced in 2025 are as follows:

• Kevin Warsh: 24.2%
• Christopher Waller: 20.0%
• Kevin Hassett: 18.7%
• No announcement: 18.0% 

Looking to avoid shark attacks? Avoid ice cream.