Futurum Equities Podcast

Futurum Equities Podcast
  • 5.0 (9)
  • Investing

(Hosted by Shay Boloor and Daniel Newman) We’re not here to recap headlines. We’re here to unpack how Nvidia’s architecture is reshaping data centers. How AI agents will disrupt every enterprise. The markets are about to get harder. AI is about to explode and chance the world. The next five years will break most of the frameworks people have used for the last decade. That’s exactly why we’re doing this. Because if you want to survive this next cycle, you need to understand how real tech scales and how money moves around it. The Futurum Equities podcast is committed to deliver Insights from the Inside with each and every episode.

  1. 15h ago

    Anthropic IPOs in October. The only frontier AI stock for a year. | Ep. 53

    Anthropic put an October IPO on the table, and the neo clouds sold off hard into the news. Daniel Newman and Shay Boloor spend episode 53 on the narrow window where Anthropic can be the only public frontier AI stock, the margin test NVIDIA faces next week, and the Marvell warrant deal the market read backwards. The guys open on the data center politics souring the AI narrative into the midterms, then get into the week's headline: Anthropic closed a 39 point pervasion gap on OpenAI in 12 months per the ETR data and crossed over, while the early Q3 read shows OpenAI re-accelerating and Codex pervasion doubling in a quarter. Shay's read is a scarcity window, since OpenAI can't list until 2027. The catch is capital absorption: a raise that could approach $100 billion has to be funded from somewhere, and the obvious source is the AI proxies. On NVIDIA, the counter to the peak capex thesis is Vera Rubin holding 75% gross margins, SpaceX growing from roughly 4% of revenue toward 10% by the end of next year, and token margins climbing toward an expected 90% on Feynman while paid token demand runs up 7x this year. Marvell gets the correction segment: 7% dilution over 6.5 years against $120 billion of Google spend, roughly ten years of run rate from one customer. The Q&A covers OpenAI's consumer monetization, Coherent's December CPO ramp, Cipher at $15, the 70% anti data center poll, and Kevin Warsh's first Jackson Hole. Watch the full episode with chapters on YouTube: https://youtube.com/live/y0TG80GbQBY?feature=share The show is live every Friday. Bring your tickers and questions to the chat and the guys will take them on air.

  2. Aug 14

    Memory is a 5 to 10 year constraint. The 2030 guides just proved it. | Ep. 52

    A prominent memory bull flipped short term bearish over the weekend, and Sandisk answered with an investor day that guides to 80% gross margins out to 2030. Daniel Newman and Shay Boloor spend episode 52 on the memory wall, the week the GPU depreciation bear case broke, and Futurum's new $12.7 trillion AI capex number. The guys open on why Daniel calls memory a 5 to 10 year constraint and why the memory wall can't be engineered around fast enough to dent the trade. Sandisk's investor day gets the full treatment: mid to high teens growth guided through fiscal 2030, 80% non GAAP gross margins, free cash flow at 50% of revenue, and KV cache reaching 35% of AI data center NAND workloads by 2030. Then the neo clouds: CoreWeave's five year A100 contracts on six year old silicon, the $400 million of annualized non GPU business, and Nebius's first Blackwell capacity auction clearing 15% above its own best pricing with all of 2027 bookable at those levels. Plus Applied Materials' record sequential quarter, Shay's new Vertiv and ON Semiconductor positions for AI power, and the Q&A: the humanoid robotics SPAC red flag, the best AI energy stock, Aehr after a 15x run, AppLovin's binary Q3, Cipher's messy quarter, Credo against Astera Labs, and how Burry and Cramer keep getting the AI trade wrong. Watch the full episode with chapters on YouTube: https://youtube.com/live/mzPSln0f19g The show is live every Friday. Bring your tickers and questions to the chat and the guys will take them on air.

  3. Aug 7

    SpaceX Guided to $260B by 2029. Shay Bought the Lockup Fear. | Ep. 51

    TITLE: Ep 51: SpaceX Guided to $260B by 2029. Shay Bought the Lockup Fear. DESCRIPTION: SpaceX just delivered its first earnings report as a public company, and the number nobody modeled stole the whole show. Daniel Newman and Shay Boloor spend episode 51 on the print, the lockup everyone was selling ahead of, and why a weak jobs report has the entire AI trade breathing again. The guys go deep on SpaceX: 92% growth in an AI cloud business that was never supposed to exist at this scale, a revenue path from $44 billion this year toward $260 billion by 2029, and the math behind Shay buying the lockup fear at $109 to $110 before the print. From there it's Palantir's rerating with net dollar retention at 157% and roughly $6 billion of US commercial contract value closed, Daniel calling the end of the SaaS apocalypse, AMD's conservative guide and the Helios rack scale ramp, the no rate hike case under Kevin Warsh after a weak jobs Friday, Shay's new Vertiv position for AI power exposure, Micron over SK Hynix on HBM, and the reveal that Shay sold every share of his Tesla on a SpaceX merger theory. The Q&A covers Daniel's put selling playbook, the Oscar Health case study, T1 Energy and EOS Energy, and who wins when models get cheap. Watch the full episode with chapters on YouTube: https://youtube.com/live/bRWV51UXeDQ The show is live every Friday. Bring your tickers and questions to the chat and the guys will take them on air.

  4. Jul 24

    Google grew cloud 82% and still got sold. Where the money went | Ep. 50

    Episode 50 lands in a strange tape. Google grew its cloud business 82% and the stock got sold anyway, and Daniel Newman and Shay Boloor spend the show on what that selling actually means for everyone holding the AI trade. The guys go deep on Alphabet's print: a $25 billion cloud quarter growing 82% with 36% operating margins, a $15 billion capex raise, and the earnings math behind Shay's call that Google is "a great business, bad investment" until EPS clears $20 again in 2029. Nvidia at 18x earnings gets the other side of that trade. From there it's the $11.7 trillion cumulative AI capex bull case through 2030, TSMC raising capex $8 billion in a quarter while flagging a bigger 2027, Intel's blowout on server CPU pricing and Shay's rule that INTC has to prove an external foundry customer to earn its price above $100, Tesla converting record deliveries into a 1% operating margin, Micron and the HBM demand curve the market keeps mispricing, and IREN's $2.8 billion AI cloud contract with roughly half the GPU capex prepaid by customers. Plus SpaceX lockup math and entry levels, Meta at 18x with Shay's $1,200 thesis, and Jensen Huang joining X mid show. The back half is all viewer Q&A: ServiceNow as the benchmark for AI software, Shay's tier one and tier two software framework, whether Meta is the best Mag 7 buy right now, IREN position sizing, and the drone bucket ahead of the Anduril IPO. The show is live every Friday. If you're tracking AI infrastructure or trading this earnings season, bring your tickers and questions to the chat and the guys will take them on air. If this one helped you make sense of the tape, a like genuinely helps the show reach more investors. Subscribe and hit the bell so you catch the next live, and come argue with Shay about NVDA at $100 in the comments.

  5. Jul 8

    SK Hynix listed 3x oversubscribed. Why Micron is the cleaner entry from here. | Ep. 49

    MU at 6x earnings, NVDA at 18x, and SK Hynix listing 3x oversubscribed on NASDAQ. The memory selloff heading into the listing looked like a fundamentals problem. It wasn't. Daniel Newman sat down with the SK Group chairman on listing day. Shay Boloor walked through exactly why Micron is his cleanest memory entry right now, why NVIDIA has become the capital-safety trade in a volatile market, and where the Mag 7 relative value actually sits heading into the second half. Tickers covered: MU, NVDA, SKHYF, META, MSFT, PLTR, SNOW, DDOG, NOW, CRWD, PANW, DELL, OKLO, BE, GEV, ASTS, RKLB, HIMS, OSCR, SHOP, ADBE, CRM, SAP, AMD. Key data points from this episode: Futurum Equities $155 price target on MU. Futurum 2027 AI-only CapEx forecast of $1.44T. BofA projecting NVIDIA at 65-70% share of AI CapEx. Software names up roughly 50% off April 2025 lows. SK Hynix IPO 3-4x oversubscribed with 30-50% listing-day run risk flagged. 00:00 Intro and SK Hynix US listing context 00:43 SK Hynix NASDAQ debut and Daniel's chairman sit-down 02:14 MU price target, memory rankings, and tariff advantage 07:48 Why geopolitics won't stop AI CapEx 08:14 NVDA as the return-to-safety trade at 18x earnings 10:06 BofA NVDA revenue projection and AMD's role 11:48 Futurum 2027 AI infrastructure CapEx forecast 12:33 NVDA CPU business and Jensen's neo-cloud strategy 14:35 Bottleneck bros valuation gap: NVDA at 18x, MU at 6-8x 15:50 NVIDIA as the T-bill 19:24 META as second-best Mag 7 opportunity 20:03 MSFT at roughly 20% undervalued with $100/share upside 30:08 RKLB, HIMS, and OSCR portfolio moves 32:52 Software up 50% from April lows, rotation dynamics 34:17 Top four AI software winners: PLTR, SNOW, DDOG, SHOP 35:24 ETR survey data flagging enterprise softness risk 37:38 CRWD and PANW both post best quarters in company history 38:07 Daniel on SaaSPocalypse and the era of abundance 39:35 ADBE, CRM as system-of-record value plays 41:00 DELL up 4x YTD but 17% gross margins limit the case 42:44 OKLO down from $200 to $46, Stage 4 breakdown flagged 44:00 BE and GEV as behind-the-meter power plays 46:47 SAP vs PLTR as business AI platforms 49:12 ASTS as the pure space connectivity play 54:20 Samsung profitability data point 54:55 SK Hynix listing bag-holder risk for chasers 56:11 MU near 50-day SMA as re-entry setup #FuturumEquities #DanielNewman #ShayBoloor #AI #Investing #Markets

  6. Jul 2

    META flipped $145B of CapEx into a new business overnight. | Ep 48

    PLTR, MU, META compute leasing, and the software bounce: Shay added to Palantir in the $115 range as Alex Carp's CNBC interview reframed the proprietary data moat, and every Future 15 software pick turned green in the same week. This episode covers why the application and data layer sits above frontier model companies as the durable AI winner, what META leasing 500 megawatts of excess GPU capacity actually means for neo clouds like NBIS and CRWV, and why the hosts think that sell-off was overdone. Futurum's price target on MU sits at $155 with street highs above $200. MSFT announced a $2.5B forward-deployed AI joint venture. AWS raised GPU rental prices 20%. OpenAI giving 5% equity to the US government gets called out as pure IPO valuation mechanics, not patriotism. The memory trade, physical AI sensing plays, and the AI CapEx prisoner's dilemma all get full treatment in the back half. Tickers covered: PLTR, MU, META, MSFT, NVDA, SNOW, NOW, CRM, ADBE, ORCL, NBIS, CIFR, WULF, CRWV, ASTS, AXON, AMBA, AVAV, KTOS, ACHR, JOBY

  7. Jun 18

    Fed broke the rate narrative. NVDA and AI capex face a new math | Ep 46

    Daniel Newman and Shay Boloor are live on The Futurum Equities Podcast, breaking down how and why the Fed just handed the market a regime change disguised as a hold. If you're running any AI or tech exposure right now you need to understand what actually happened. The Fed kept rates at 3.5% to 3.75%, but that's the least interesting part of the decision. The dot plot median shifted to 3.8% year-end, nine of eighteen officials are now projecting a 2026 hike, and the cutting-bias language got stripped from the statement entirely. The 2-year Treasury confirmed it immediately, jumping 14 basis points to 4.153%. That's the bond market telling you this is structural. For NVDA, MSFT, META, GOOGL, AMZN, and PLTR, which are all priced on multi-year earnings streams, a higher discount rate compresses multiples even when the fundamentals don't change. Daniel and Shay will pressure-test each name against that reality. The hyperscaler capex commitments are also load-bearing: META guided $125 to $145 billion, MSFT is at $120 billion-plus, AMZN is at $200 billion, and GOOGL is at $175 to $185 billion. That contracted demand flows through to NVDA's data-center segment regardless of where the 2-year goes.

  8. Jun 12

    Oracle's $638B backlog and SpaceX's index clock. What breaks next. | Ep 45.

    SpaceX debuted at a $2T valuation, 4x oversubscribed, and the largest IPO in history. While the market chased the narrative, NVDA fell 15% from its May highs and ARM ran. Shay closed the ARM position and rotated into NVDA at roughly $200, targeting $300 on a 24-25x earnings multiple. That's the trade the episode is really about. We break down the SpaceX IPO valuation case, why Shay sees the entry as questionable despite loving the business, and what the proxy-chasing dynamic says about where the real AI infrastructure opportunity sits right now. Oracle's OCI transition gets a full breakdown too: a $638B backlog that is larger than Amazon, Microsoft, and Google combined, but mid-teens margins against hyperscaler margins of 30-50% that explain exactly why the market is skeptical on conversion. We close with rapid-fire coverage across drone defense, AI networking names including AVGO, MRVL, ANET, COHR, and CREDO, and the power infrastructure trade with GEV, VRT, Bloom Energy, and Shay's new position in FGNT near $50. Tickers covered: NVDA, ARM, ORCL, RKLB, ASTS, PLTR, SNOW, MDB, GOOGL, AVGO, MRVL, ANET, COHR, LUMN, CREDO, CSCO, HPE, VRT, GEV, BE, FGNT, MRCY, AVAV, KTOS, TSLA Disclaimer: This episode is for educational and informational purposes only. Not financial advice. Past performance does not guarantee future results. Do your own research before making investment decisions.

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Ratings & Reviews

5
out of 5
9 Ratings

About

(Hosted by Shay Boloor and Daniel Newman) We’re not here to recap headlines. We’re here to unpack how Nvidia’s architecture is reshaping data centers. How AI agents will disrupt every enterprise. The markets are about to get harder. AI is about to explode and chance the world. The next five years will break most of the frameworks people have used for the last decade. That’s exactly why we’re doing this. Because if you want to survive this next cycle, you need to understand how real tech scales and how money moves around it. The Futurum Equities podcast is committed to deliver Insights from the Inside with each and every episode.

Information

  • Creator
    Futurum Equities Podcast
  • Years Active
    2025 - 2026
  • Episodes
    51
  • Rating
    Explicit
  • Copyright
    © Copyright 2025 All rights reserved.
  • Show Website
    Futurum Equities Podcast

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