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"GPUs are melting"
DC Lite #719
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1. Retail activity. "Robinhood traders apparently felt fine fighting the Fed by buying the dip: net daily purchases of single stocks [on Tuesday] were the third highest on record, trailing only June 12 (#1, SpaceX's IPO) and September 23 (#2)."
2. SPY 200DMA. "The S&P 500 could spend the next 69 trading sessions going sideways between $730 and $780, and its 200-day moving average would keep rising every day. Even if every close was at the bottom of that range."
3. AI spend. "AI spending rose to a new peak in October, rising 1.65% from September. Spend also increased among the top 1% of spenders. The top 1% of firms now spend a median $10.2K per employee per month on AI, up 9%. Firms in the top 10% spent $801, roughly flat. The median firm spends $16.32, up $0.93."
4. GPU rental prices. "GPUs are melting. On-demand B200 index rose 1.9% to a new high of $6.97 on Nov 10 and H100 1.7% to a new high of $3.06; B300 ($7.68), H200 ($3.48) and A100 ($1.59) were unchanged, but hovered near ATHs and poised to follow. Recent price surges point to a clear demand inflection."
5. Hot Seat: Jensen Huang. Prediction market odds of Huang resigning or being removed as NVIDIA CEO have spiked after WSJ broke news of a second affair after-hours.
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