Stablecoins may be real. Circle still looks like a weak equity expression of the theme because too much of the economics leak to distributors, rates, and adjacent expansion bets.

Why OpenAI, Anthropic, and Cursor are bundling tokens into subscriptions, leaning on API credits, and betting that efficiency gains can outrun the cost of agentic coding.

The MacBook Neo puts an iPhone chip in a laptop, prices it at $499 for schools, and leaves Google to figure out a response. The iPhone 17e, meanwhile, is doing exactly what you'd expect.

HBM ate your RAM. Now your phone costs more and your laptop ships later.

'Days of storage' becomes a market variable

The Kospi was up 47% on semiconductors and vibes. Then the Strait of Hormuz closed.

What happens to open orders, settlement cycles, and index math when an exchange simply stops