IPO PRICED
707 Cayman Holdings Ltd.JEM · Nasdaq
$2.6 / share$5.2M raise2,000,000 shares

IPO priced at $2.60 for $5.2 million

707 Cayman Holdings priced at $2.60 a share, raising just $5.2 million on 2 million shares, one of the smallest Nasdaq debuts of the year. Micro floats like this trade thin and move hard on tiny volume, so the first sessions set the tone.

Source: SEC filing

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NVIDIA Fallout, Chip Volatility and the Case for 60/40

  • Panel split on Nvidia after Huang's resignation: bulls cite a forward multiple near 10 and 300 billion in free cash flow
  • Kevin Simpson sold half his Nvidia at a 20% loss on price-action rules, buying at $200 and exiting in the $160s
  • Nvidia board reportedly approached Arm CEO Rene Haas as successor; Arista flagged as clearest chip beneficiary
  • Retail earnings week ahead for Home Depot, Walmart, Costco, TJX and AutoZone, with weak consumer sentiment a drag

The committee can't agree on what a leaderless Nvidia is worth: one member mechanically dumped half his stake at a 20% loss while another is putting new client money in at these levels. With earnings next week, the next report settles the argument.

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The avalanche that hit math is coming for AI development

  • Patel cut his superintelligence timeline from roughly a decade to a couple of years, possibly months
  • Claude now leads 26% of Anthropic's AI R&D work, up from under 1% in February
  • Median call: AI matches the best human AI researchers by 2028, with 2027 plausible
  • Post-takeoff AI would beat Nvidia at designing the next generation of accelerators

The bull case for compute just got a louder advocate: if automated research compresses years of progress into one, chip demand scales with it. The catch for Nvidia holders is that Patel says such a system would outdesign the company at its own accelerators, and he puts 25% odds the milestone slips past 2032.