Puru Saxena and the panel dive into the forces driving this market move, from surging AI investment to a decisive shift in sentiment following strong Big Tech results. They explain why cloud computing demand is accelerating, why growth stocks are back in focus, and how these trends are shaping the next phase of investing in artificial intelligence and technology. 

With cloud computing growth re-accelerating and capital expenditure surging across hyperscalers, the team explores whether this is early validation of the AI boom or the peak of the current cycle. 

The panel explores: 

Middle East tensions and the stock market: Why equities have remained stable despite conflicting headlines, how investors are interpreting geopolitical risk, and why oil and macro conditions still matter for the broader economy and finance. 

Growth stocks and market positioning: Puru explains the recent rally in growth stocks, how extreme bearish positioning and aggressive hedging created the conditions for a sharp rebound, and what this means for investing going forward. 

Cloud computing and AI demand: Damia breaks down the latest results from Big Tech, including accelerating growth across cloud computing platforms like Google Cloud, AWS and Microsoft Azure, and what this signals for software, technology and emerging technologies. 

AI infrastructure and capex surge: Irnest Kaplan explains why hyperscalers are on track to spend over $700 billion on AI infrastructure, how this impacts the broader ecosystem, and why demand continues to outstrip supply. 

Custom silicon and the AI shift: Anirban explores the rise of in-house chips, why companies are expanding beyond the cloud, and what this means for the future of AI, software and enterprise workloads. 

AI competition and market dynamics: The team discusses the evolving battle between OpenAI and Anthropic, how compute constraints are shaping user behaviour, and what this means for the future of artificial intelligence, business trends and disruptive stocks. 

A clear breakdown of the biggest business trends shaping the stock market, disruptive stocks, and the future of AI-driven investing. 

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AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. 

AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today's ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions 

Puru Saxena and the panel break down the powerful rebound in equities following heightened Middle East tensions, explain why software and growth stocks are rallying aggressively, and unpack why Anthropic’s latest AI release may strengthen the long term outlook for cybersecurity rather than weaken it. 

With sentiment swinging rapidly from panic to optimism, the team explores whether this rally has further to run and where the most compelling opportunities may now lie across artificial intelligence, cybersecurity, software and disruptive technology. 

The panel explores: 

Middle East tensions and the stock market rally: Why equities bottomed despite worsening geopolitical headlines, how markets reacted to renewed US-Iran talks, and why oil remains one of the most important macro variables for investors. 

Puru explains the sharp rebound in growth stocks and why stretched bearish positioning, and aggressive hedging created the setup for a major short covering move. 

Computer scientist and AI specialist Anirban explains what Anthropic’s new frontier AI model does, why it has sparked panic across financial markets, and whether the technology represents a genuine breakthrough in artificial intelligence. 

Cybersecurity stocks sell off: Why cybersecurity stocks were hit after the Anthropic announcement, why the market may have misunderstood the development, and why AI could increase, not reduce, future cybersecurity demand. 

AI and the cybersecurity arms race: How increasingly powerful artificial intelligence models may reshape cyber warfare, software vulnerabilities and enterprise security spending over the coming decade. 

Senior analyst Irnest Kaplan breaks down why Anthropic’s revenue growth is accelerating at an extraordinary pace, whether it has overtaken OpenAI, and what this means for the broader AI investment cycle. 

Hyperscaler capex and AI infrastructure: Why exploding AI revenues are helping justify massive cloud computing and data centre investment from the world’s largest technology companies. 

Senior analyst Damia explains when Anthropic could go public, what risks exist around a future IPO, and how public market investors may gain indirect exposure before listing. 

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AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. 

AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today's ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions 

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Host of AlphaTarget PULSE, Puru Saxena, and the panel unpack the evolving macro landscape as geopolitical tensions in the Middle East begin to ease, equity markets rebound, and a major artificial intelligence development raises new questions about the future of growth stocks and technology. 

With growth stocks and disruptive stocks down 50 to 70% and sentiment still fragile, the team explores whether markets are forming a durable bottom and what needs to happen next to confirm it. 

The panel explores: 

Geopolitics, oil and the stock market: How shifting rhetoric between the US and Iran, alongside early signs of de-escalation, is driving volatility across the stock market, oil and currencies. The team explains why crude prices remain the key variable for inflation and broader business stability. 

Market positioning and the case for a bottom: Why extreme positioning, elevated put call ratios and widespread hedging created the conditions for a sharp rally. The discussion focuses on whether this signals a turning point for investing or a pause before another leg down. 

AI infrastructure and the storage bottleneck: Why the next constraint in artificial intelligence may not be compute or cloud computing capacity, but storage. The team explores how inference and data generation are driving demand across the technology stack. 

AI breakthroughs and implications for software: What Google’s latest compression innovation means for memory efficiency and whether it changes the outlook for software and AI infrastructure. The panel discusses how this could reshape demand across parts of the technology ecosystem. 

Tech valuations and growth stocks: Why software and semiconductor valuations have compressed sharply and how current levels compare to historical norms. The team assesses whether growth stocks now offer attractive long term opportunities. 

Hyperscalers, capex and the AI cycle: How major technology companies continue to invest heavily in artificial intelligence and cloud computing, and why this spending is creating a divide between short term skepticism and long term conviction. 

Software disruption and the role of AI agents: Why parts of the software ecosystem may face pressure from AI driven automation, and which areas of technology, particularly infrastructure and cybersecurity, are more likely to remain resilient. 

AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. 

AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today's ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions. 

In this episode of AlphaTarget PULSE, host Puru Saxena and the panel assess the compounding pressures facing global equity markets, from US-Israel strikes on Iran and the closure of the Strait of Hormuz, to the Fed's decision to hold rates and signal only one cut in 2025. Against this backdrop, the team examines Nvidia's landmark GTC event, the unravelling of Meta's Metaverse ambitions and the emergence of agentic commerce as the next frontier in AI-driven retail. 

The panel explores: 

Geopolitics, oil and inflation: How US and Israeli military action against Iran, the shutdown of the Strait of Hormuz and strikes on Gulf energy infrastructure are driving oil price volatility, stoking inflationary pressure and complicating the Federal Reserve's path to rate cuts and what this means for consumer economies dependent on imported energy. 

Federal Reserve and macro outlook: Why the Fed's decision to hold rates and signal only one cut this year, combined with stalling private sector job creation, raises the risk of stagflation and how equity markets, particularly large-cap technology, are beginning to price in a more challenging macro environment. 

Nvidia GTC and the AI infrastructure buildout: What Jensen Huang's one trillion dollar visibility figure for AI infrastructure spending through 2027 signals about the durability of the capital expenditure cycle, why the Vera Rubin architecture's power efficiency gains matter for data centre operators, and why the market's muted reaction to record-breaking numbers may itself be the most telling signal of all. 

Agentic commerce and the evolving AI ecosystem: What Walmart's decision to embed its own Sparky agent inside ChatGPT, and potentially Gemini and Claude, reveals about how large language models are being repositioned as distribution platforms, and what this emerging handoff model means for monetisation across the AI stack. 

Meta, the Metaverse and capital reallocation: Why the shutdown of Horizon Worlds on Quest headsets marks a definitive end to one of the most expensive strategic miscalculations in technology history, and how the reallocation of tens of billions in Reality Labs capex toward Llama and AI infrastructure reflects a broader industry reckoning with where durable value is actually being created. 

Portfolio strategy and hedging in a fragmented stock market: Why the historic decoupling between growth stocks and major indices has rendered traditional index-based hedges ineffective, and how the team is evolving its approach toward individual stock put options to achieve a true and meaningful hedge in today's deeply uncorrelated market environment. 

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AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. 

AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today's ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions. 

In this episode of AlphaTarget PULSE, host Puru Saxena and panel examine the market impact of rising geopolitical risk, energy supply disruption and sharp rotations away from AI and semiconductor leaders. Drawing on expertise across global capital markets, software research and portfolio management, the discussion connects macro shocks to long-term structural themes in artificial intelligence, enterprise automation and cloud infrastructure.

The panel explores:

Geopolitics and oil markets: How conflict in the Middle East and potential disruption of the Strait of Hormuz could affect inflation, global trade flows and equity market volatility, and why history suggests panic-driven selloffs in the stock market may prove short-lived.

Semiconductors, robotics and capital cycles: Why South Korea’s memory-heavy index reacted sharply, what it signals for high-bandwidth memory and data center demand, and how supply chain risk intersects with the ongoing AI infrastructure buildout including emerging technologies in robotics and autonomous driving that depend on continued semiconductor innovation.

AI agents, cloud computing and enterprise software: Whether AI agents represent an existential threat to traditional seat-based software models, or a catalyst for reinvention through consumption-based and outcome-driven pricing. The debate around agentic workflows, enterprise integration and long-term monetization models and what the shift toward cloud computing and ecommerce platforms means for business trends in software delivery.

Valuation and portfolio strategy: Why AI and software multiples have compressed to multi-year lows, how to separate durable infrastructure and cybersecurity platforms from vulnerable application software, and what positioning may look like as productivity gains from artificial intelligence begin to materialize across the global economy.

This episode provides a framework for navigating macro uncertainty while staying focused on structural growth, from artificial intelligence and semiconductor demand to enterprise automation and capital allocation in today’s evolving financial landscape.

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AlphaTarget PULSE brings you timely, institutional-grade insights on markets, business, technology and investing. Every other Friday, our Founder Puru Saxena (veteran money manager and Founder of money management firms in Hong Kong) and our highly experienced analysts (ex-Citibank, Societe Generale, Peel Hunt, Berenberg, Motley Fool) cut through the noise and dissect markets, disruptive business trends, technological developments and opportunities, revealing where the smart money is investing. 

AlphaTarget PULSE is a production of AlphaTarget, a premier research firm which specialises in uncovering disruptive, rapidly growing companies in the public markets, equipping investors with actionable insights to stay ahead in today’s ever-evolving business landscape. Our firm is trusted by a wide range of investors including individuals, family offices, financial advisers, funds and wealth managers and our research subscription educates and empowers investors to make smarter decisions. 

In this episode of AlphaTarget PULSE, host Puru Saxena is joined by an expert panel to examine how artificial intelligence is shifting from experimentation to measurable business impact. Drawing on real-world experience across finance, technology and global capital markets, the panel brings multiple perspectives on valuation, capital allocation and risk management in today’s evolving economy.

The panel explores:

Artificial intelligence monetization: How AI agents embedded in enterprise software are expanding margins, driving recurring revenue, and creating second-order winners across data infrastructure, semiconductor suppliers and cybersecurity platforms.

Infrastructure and capital cycles: Why the current cloud computing capital expenditure cycle could be longer and larger than expected, and how robotics adoption is improving productivity across manufacturing and logistics.

Commercial adoption curves: The real-world timeline and investment implications of autonomous driving technology, plus how leading ecommerce platforms are using artificial intelligence to optimize pricing, advertising and fulfilment.

Valuation and portfolio strategy: Which growth stocks have genuine earnings power versus narrative momentum, how disruptive stocks are being priced in tightening financial conditions, and how to position portfolios within today’s evolving economy and global finance landscape.

• Irnest (CFA, top-ranked SA analyst, ex-Societe Generale) – our numbers man
• Anirban (PhD CS, ex-Motley Fool Australia Research Director) – Bleeding Edge tech insights 
• Damia (ex-Citibank/investment banking) – our data queen

• AI workloads set to triple by 2030 (McKinsey), with inference surging 5x at ~35% CAGR 
• CoreWeave CEO: Inference now >50% of workloads (up from 35% recently) 
• Google Q4: Search +17% YoY, Cloud +49% to $17.7B, Gemini >750M MAUs, 2026 CapEx $175–185B (massive beat) 
• Software TAM to grow 3x by 2037 (9%+ CAGR), agentic AI as tailwind for infra/cyber 
• Why "vibe coding" won't kill mission-critical SaaS anytime soon 
• Historical parallels: Cloud shift didn't destroy incumbents — AI likely rhymes 
• Macro tailwinds: Rate cuts, QT end, strong US GDP momentum → setup for growth stock rebound

Key highlights: We separate hype from reality: This pullback looks like a classic rotation, not the end of AI/software growth. Oversold names could deliver big gains ahead.

In this episode, we dive deep into the explosive topic of building AI data centers in space – why tech giants like Google (Project Suncatcher), Nvidia-backed Starcloud, Blue Origin, and even China are taking it seriously.

We explore the massive energy advantages (constant solar power, 5-20x cheaper energy), the key bottlenecks (launch costs, Starship's potential game-changer in 2026), and which workloads (training vs. inference) could thrive in orbit despite latency challenges.

We also break down recent market rotation after Fed rate cuts and QT end – why AI/software stocks pulled back but remain in early innings with strong fundamentals (McKinsey: AI workloads 3x by 2030, inference 5x at 35% CAGR). Plus, our take on the macro tailwinds, oversold growth names, and S&P 500 historical post-rate-cut rallies.

Finally, we discuss the wild geopolitical volatility from President Trump's tariff threats on European nations over Greenland – and how a last-minute "framework" deal eased the pressure, but uncertainty lingers.

Join host Puru Saxena with our expert panel:

• Irnest (CFA, top-ranked analyst, ex-Societe Generale)
• Anirban (PhD CS, ex-Motley Fool Australia)
• Damia (ex-Citibank & investment banks)
• Oyvind (ex-Peel Hunt, Berenberg, Arceau family office)

AlphaTarget publishes in-depth research on high-growth, disruptive public companies. Want access? Check out our subscription at https://alphatarget.com

Subscribe for more episodes every couple of weeks, like if this added value, and drop a comment: Do you think AI data centers in space will happen in 5 years or 10+? Thanks for watching – see you in the next one!