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Silicon Valley's AI boom may be heading out to sea.

Just call it quiet luxury in a bottle.

Just call it quiet luxury in a bottle.

The former Duke of York was walking his dogs outside the Sandringham Estate when a man wearing a ski mask approached him.

The former Duke of York was walking his dogs outside the Sandringham Estate when a man wearing a ski mask approached him.

Worth Every Dollar (Until It Isn't)

Authored by Bryan Lutz via DollarCollapse.com,

Jamie Dimon just gave the trillion-dollar AI capex boom his blessing.

Standing next to Anthropic CEO Dario Amodei in New York on Tuesday, the JPMorgan chief told Wall Street that the buildout is “worth the trillion-dollar investment”… a sentence that would have been a punchline two years ago.

Now it feels like even the mainstream media disagrees with the consensus.

Here’s the problem...

BofA Global Research charted every market concentration peak of the last sixty years on a single line:

Four bubbles. Four peaks. All in roughly the same 40-44% concentration band.

And we just printed the fourth one.

The world’s largest bank cosigned the bet at the exact level the last three manias topped out.

Axios reports:

Jamie Dimon blesses the trillion-dollar AI capex boom

JPMorgan Chase CEO Jamie Dimon stood next to Anthropic CEO Dario Amodei in New York on Tuesday and told Wall Street the AI buildout is worth every dollar.

Why it matters: With investors increasingly anxious about whether AI revenue can keep pace with spending, the head of the world’s largest bank endorsed a capital expenditure wave projected to top $1 trillion next year.

• The latest Big Tech earnings reports last week made clear that the massive buildout is propping up not only the stock market, but U.S. economic growth writ large.

• “The technology is so powerful, it’s worth the trillion-dollar investment,” Dimon said at an Anthropic event unveiling new partnerships and AI agents tailored to financial services.

Zoom in: Dimon and Amodei also addressed Mythos, Anthropic’s powerful new model whose cyber capabilities prompted Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell to convene an emergency meeting with major bank CEOs last month.

• Dimon, who was invited but unable to attend that meeting, said the banks have since gotten together to “triage the issues” — and argued protections should extend to all banks, not just the largest.

• “The government can’t do all that,” he said.

• Amodei said he had a great conversation with Bessent and pushed back on the suggestion that Mythos’s limited release was driven by compute constraints, calling that a “misconception.”

So a banker blesses a trillion-dollar bet, the regulators panic about a single AI model, and the index rips on the back of seven names doing all the spending.

This is what late-cycle capex manias look like in real time… every cycle has them, and every cycle ends the same way.

Stack accordingly.

Tyler Durden Thu, 05/07/2026 - 14:10

"Stunning Quarter": Highest Earnings Growth In Over Two Decades

Yesterday, Deutsche Bank's head of thematic research published his latest chartbook, "The Great 2026 Reset," which delves into the market and political implications of the Iran conflict (available here to pro subs).

One key topic explored by Reid is the remarkable US Q1 earnings season. As we previewed ahead of the start of reporting seasons, earnings are significantly exceeding consensus estimates across all metrics, despite a high bar.

S&P 500 earnings growth is projected to accelerate sharply from 13.4% in Q4 to 24.6% in Q1 – a four-year high and a level rarely seen outside of post-shock recoveries. Excluding special factors, this represents arguably the strongest earnings growth in two decades.

The AI boom is a clear contributor, but strength is widespread, with double-digit growth seen in average and median companies, and all 11 sectors posting positive growth for the first time in four years. This strong performance has in many places been driven by higher prices amid supply constraints, surging demand within the AI value chain, and other disruptions.

In light of these robust Q1 results, DB has raised its 2026 EPS forecast from $320 to $342, driven by strong Q1 beats, gravity-defying performance in MCG & Tech, and higher oil and commodity prices.

Reid says it's worth noting that while the US equity market has outperformed many markets since the start of the Iran conflict, this has only moved it from the bottom quartile to the middle of the global pack year-to-date.

Even with a surge since the conflict began, tech performance over the past six months (since the end of October) shows only a modest increase.

Given current high valuations, strong earnings growth is helping the US market "grow into" these valuations, yet other markets have demonstrated notably better performance over the last 18 months.

More in the full DB note available here.

Tyler Durden Thu, 05/07/2026 - 13:55

At the time of the reported boat trip, Russini was seven months pregnant with her and her husband's first child.

At the time of the reported boat trip, Russini was seven months pregnant with her and her husband's first child.

Iranian President Says Iran Willing To Prove Peaceful Nature Of Nuclear Program

Iran has told other regional countries that it is ready to 'prove' that its nuclear program is peaceful in nature, and that it is willing to meet international standards in that regard, according to the Iranian presidency.

This comes as Iran's Foreign Ministry has insisted that the nuclear issue be left out of talks related to ending the war with the US, with a statement saying that "at this stage, we do not have nuclear negotiations" - but which remains a key demand by Washington.

Within years after the first Trump administration unilaterally pulling out of the earlier Obama JCPOA nuclear deal, the Iranians had booted IAEA inspectors from the country, citing that the deal was collapsing due to Washington policies, which included the reimposition of far-reaching sanctions.

Anadolu Agency

The appeal for international verification that its program is for peaceful nuclear energy and domestic consumption comes via Turkish media this week:

Iran is fully prepared to meet global standards to demonstrate the peaceful nature of its nuclear program, the presidency said on Tuesday.

The remarks came during a phone call between President Masoud Pezeshkian and Iraqi Prime Minister-designate Ali al-Zaidi, according to a statement from Iran’s presidency.

Pezeshkian said Iran had shown full readiness in all negotiations to offer assurances within the framework of international regulations and global monitoring mechanisms. He criticized what he described as contradictory US policies, saying Washington continues to apply pressure while simultaneously calling for negotiations.

Iraq's Zaidi in turn said Baghdad is prepared to support de-escalation efforts and could host talks between Iran and the United States, according to the statement. Iraq itself has been deeply impacted by the war, and Iran has even fired ballistic missiles and drones on the north, reportedly targeting US troop installations in or near Erbil in Kurdistan.

Also, earlier this week widely a Reuters report raised eyebrows and serious questions related to the effectiveness of the 38-day aerial campaign which saw US-Israel bombs unleashed in the many thousands (combined: some 20,000+ munitions expended) on the Islamic Republic.

"US intelligence assessments indicate that the time Iran would need to build a nuclear weapon has not changed since last summer, when analysts estimated that a US-Israeli attack had pushed back the timeline to up to a year, according to three sources familiar with the matter," the report lays out.

"The assessments of Tehran's nuclear program remain broadly unchanged even after two months of a war that US President Donald Trump launched in part to stop the Islamic Republic from developing a nuclear bomb," it continued.

New satellite imagery: Iran may have taken fresh "passive defensive measures" near Natanz nuclear facility...

IRAN NUCLEAR UPDATE: Possible NEW Passive Defensive Measures Noted at Pickaxe Mountain

Based upon newly available satellite imagery of the Pickaxe Mountain underground complex, just south of the Natanz Nuclear Complex, it appears that as early as April 22nd, the two eastern… pic.twitter.com/KGAhBkLks8

— Inst for Science (@TheGoodISIS) May 6, 2026

President Trump as well as Israeli leadership have persisted in advancing the narrative than Tehran is bent on achieving a nuclear bomb, something which the Iranians have repeatedly denied. But there's a concern over deep division between the IRGC and civilian leadership, with 'hardliners' in the former camp seen as more ready to seek a nuke.

Tyler Durden Thu, 05/07/2026 - 13:35

He came up lame while cutting to the basket with about three minutes left in the Knicks' Game 2 win.

“Disciplinary actions should be determined by conduct, yet Cherry Creek is warping reality, blaming poor behavior on whoever can satisfy their racial representation agenda," Ian Prior, senior counsel at America First Legal, said.

The season finale is now streaming on Hallmark+!

My most-spritzed scent is under $40 and inspired by Baccarat Rouge.

The Paley Museum is joining in on the soccer celebration this summer, as it announced a lineup of events that will take place to coincide with the 2026 World Cup.

If you missed Billie in concert last summer, this is the next best thing.

The "drivers license" hitmaker has nine (!) concerts at Barclays Center from Feb. 11-27, 2027.

The actress slipped up not once, but twice, on live television.

The actress slipped up not once, but twice, on live television.

"I kind of tortured [the Tiffany team]," Molly Rogers told Page Six Style of trying to find the perfect piece.