📊 Palantir Joins The Top 20

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Happy Sunday!

Before we start, I’m kicking off something new.

In addition to this flagship Sunday newsletter, I’ll occasionally send out high-quality content outside the usual cadence, only when it’s worth your time.

This includes:

• Deep Dives

• Stock Analysis

• Investor Insights

• Earnings Reviews

• Niche Market Commentary

• & Hedge Fund Portfolio Breakdowns

If you want to make sure you never miss one, click below so I know you're interested.

Some key data bites from this week that you should know:

• Morningstar shared its list of 10 of the most undervalued blue chip stocks.

• Tesla awarded Elon Musk a $29B pay package.

• OpenAI in talks to sell stock at a $500B valuation.

• Meta tapped Pimco and Blue Owl for $29B data center financing.

• Palantir’s stock surge minted its 5th billionaire.

• Apple announced an additional $100B investment in US manufacturing.

• Trump vows to impose a 100% tariff on semiconductors and chips.

• Uber beat revenue estimates and unveiled a $20B stock buyback.

• Disney hit 183M subscribers after adding 2.6M.

• Celsius revenue jumped 41% to $739M on strong energy drink demand.

• Duolingo daily active users climbed 40% YoY to 47.7M.

• Hims revenue surged 73% to $545M but missed estimates.

• Eli Lilly’s daily obesity pill led to 12% weight loss, below 15% estimate.

• DoorDash total orders rose 20% YoY to 761M.

• Amphenol will acquire CommScope’s connectivity business for $10.5B.

• Berkshire Hathaway operating earnings fell 9% in H1 2025.

• RFK Jr. cancelled $500M in mRNA vaccine contracts.

• Snapchat lost over $400M in first half of 2025.

• Saudi Aramco posted its 10th straight quarterly profit decline.

In today’s newsletter:

• 💰 Spending Billions on AI

• 📈 Palantir Crosses $1B In Revenue

• 💾 AMD’s Data Center Sales Fall

• ❤️ Investors Love Hinge’s Growth

• 🔥 Rivian Burns $19K Per Car

Let’s jump right in.

📣 Together With Axios HQ

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AI isn’t cheap.

Just ask Big Tech, who has now spent nearly $300B on capital expenditures over the past twelve months.

Most of that has gone toward AI infrastructure, data centers, custom chips, and cloud capacity expansion.

This surge in spending has squeezed free cash flow, raising investor concerns about whether these AI bets will deliver meaningful ROI.

And the spending shows no signs of slowing:

• Microsoft plans to spend around $100B on AI in its next fiscal year.

• Amazon is targeting a similar amount for 2025.

• Google recently raised its 2025 CapEx forecast by $10B to $85B.

• Meta increased its 2025 CapEx guidance to $69B, up from a prior midpoint of $68B.

Only time will tell if these massive investments will pay off.

“Just tell the haters: read ’em and weep.”

That’s how CEO Alex Karp kicked off Palantir’s blowout Q2 earnings, and he had reason to gloat.

• Adjusted earnings came in at $0.16 vs. $0.14 expected.

• Revenue soared 48% to $1B, beating the $940M estimate and marking the company’s first-ever billion-dollar quarter.

• Both commercial and government segments grew sharply, up 47% and 49% YoY.

• Total customer count climbed 43% to 849.

• Palantir now boasts a Rule of 40 score of 94%, a rare blend of growth and efficiency.

Momentum looks set to continue.

• Full-year midpoint revenue guidance was raised from $3.895B to $4.146B, and free cash flow guidance also moved higher.

The stock is up over 500% in the past year and crossed a $440B market cap, placing it among the 20 most valuable companies in the world.

But that run-up comes at a cost:

• Palantir now trades at 224x forward earnings, making it the most expensive stock in the S&P 500.

AMD failed to impress.

After rallying 130% off its April lows, the company posted mixed Q2 results on Tuesday.

• EPS came in just below expectations at $0.48 vs. $0.49 estimated.

• Revenue beat, rising 32% YoY to $7.69B, ahead of the $7.42B forecast.

But the AI business didn’t deliver.

• Data Center revenue declined for a second straight quarter, disappointing investors.

• CEO Lisa Su pointed to U.S. export restrictions and a transition to next-gen chips as the key reasons.

Still, there was some optimism.

• Su said AI revenue is expected to grow YoY in the current quarter, with overall revenue guidance at $8.7B, above the $8.3B consensus.

The broader concern? AMD’s AI growth continues to lag Nvidia.

• While AMD has struggled to take off, Nvidia has now posted nine straight quarters of rising Data Center revenue, growing from $3.6B in January 2023 to $39B in April 2025.

All eyes now turn to Nvidia’s earnings on August 27th.

Investors are finally swiping right on Match Group.

Shares jumped nearly 7% this week after Q2 earnings showed early signs of a turnaround.

• Revenue came in at $864M, topping the $854M analyst estimate.

The standout app? Hinge.

• Hinge revenue surged 25% to $167.5M, beating expectations.

• CEO Spencer Rascoff credited the app’s AI-powered discovery algorithm, which drove a 15% increase in matches and contact exchanges since its March launch.

• Monthly active users on Hinge also climbed nearly 20% in the first half of 2025, a strong signal of momentum.

Looking ahead, Match expects $915M in Q3 revenue at the midpoint, above the $890M consensus.

The company also plans to reinvest $50M in the back half of the year into product testing at Tinder, expanding Hinge internationally, and exploring new dating app concepts.

Rivian’s profits are going downhill.

On Tuesday, the EV maker reported Q2 results with a steeper loss than expected. 

• Adjusted loss per share was $0.80 vs. the $0.65 loss forecast. 

• Revenue came in slightly ahead at $1.3B vs. $1.28B expected.

• Full-year adjusted core loss guidance was also widened to $2.125B at the midpoint, up from $1.8B.

The earnings hit came from rare earth metal supply disruptions and a drop in the value of U.S. regulatory credits.

Deliveries fell 22% YoY to 10,661 vehicles. 

• With gross profit at negative $206M for the quarter, the company lost roughly $19K per vehicle delivered.

Shares are down 12% over the past year.

Notable Companies Reporting Earnings Week of August 10th, 2025:

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Buys

• Cleo Fields (D)

  • Company: Nvidia ($NVDA)

    • Amount Purchased: $1.48M - $3.45M

  • Company: Alphabet ($GOOGL)

    • Amount Purchased: $400K - $950K

  • Company: Microsoft ($MSFT)

    • Amount Purchased: $330K - $800K

  • Company: Amazon ($AMZN)

    • Amount Purchased: $201K - $515K

  • Company: Palantir ($PLTR)

    • Amount Purchased: $150K - $350K

Sells

• Tim Moore (R)

  • Company: Direxion Daily Small Cap Bull 3X ETF ($TNA)

    • Amount Sold: $100K - $250K

Buys

• Vertex Pharmaceuticals ($VRTX)

  • Insider: Reshma Kewalramani (CEO & President)

    • # of Shares Purchased: 10,000

    • $ Amount: $3,895,768

    • SEC Forms: [1]

• Aurinia Pharmaceuticals ($AUPH)

  • Insider: Kevin Tang (Director)

    • # of Shares Purchased: 3,470,000

    • $ Amount: $3,895,768

    • SEC Forms: [1]

Sells

• KKR ($KKR)

  • Insider: George Roberts (Co-Executive Chairman)

    • # of Shares Sold: 809,906

    • $ Amount: $116,828,940

    • SEC Forms: [1]

• Astera Labs ($ALAB)

  • Insider: Sanjay Gajendra (President and COO)

    • # of Shares Sold: 280,000

    • $ Amount: $47,604,991

    • SEC Forms: [1]

• Meta Platforms ($META)

  • Insider: Christopher Cox (Chief Product Officer)

    • # of Shares Sold: 60,000

    • $ Amount: $46,557,091

    • SEC Forms: [1]

🤝 Review of the Week