The cost of training the ChatGPT-5 model could range from $1.7 to $2.5 billion, according to HSBC.
This is 17.5 times more expensive than ChatGPT-4 and nearly 400 times more expensive than ChatGPT-3. Only a few can afford such a race in expenses, so the leadership in AI technologies will remain with the current market technology leaders. Source: Vlad Bastion Research, HSBC
As highlighted by Tavi Costa ->
Silver production in Peru continues to fall severely, now down 43% from peak levels. Together with China, Peru is projected to be the second-largest producer of silver globally. Limited new supply paired with structurally higher demand is the perfect recipe for major price surges in any commodity. Source: Tavi Costa, Crescat Capital, Bloomberg
Hedge Funds dumped stocks at the fastest rate since January and, in particular, sold Industrials at the fastest pace in a decade.
Source: Goldman Sachs thru Barchart
$NVDL (2x Nvidia ETF) went from 0 to 1,452% return in 350 days since launching..
The ETF now has $2.7b in assets and $1b/day volume. Source: Eric Balchunas, Bloomberg
Warren Buffett’s Current Portfolio
Source: Barchart
The Semiconductor Index, $SOX, relative to the S&P 500 has once again exceeded Dot-com bubble levels.
The Semis vs S&P 500 ratio has roughly doubled in just 2 years. This comes after a massive semiconductor sector rally of 85% compared to a 35% gain in the S&P 500. The rally has been led by NVIDIA, $NVDA, which has seen a 560% surge during this time. Meanwhile, the top 10% of stocks in the US now reflect ~75% of the entire market, the most since The Great Depression of 1929-1939. Source: The Kobeissi Letter, Bloomberg
Satoshi Nakamoto on Lost Bitcoin
Source: Bitcoin Memes
Be patient
Source: Trung Phan
