Google just unveiled its seventh-generation TPU named Ironwood, a powerhouse tailored for enormous AI tasks that seamlessly integrates into Google Cloud for seamless model training and deployment control. The pivot to AI-centric computing has hyperscalers ditching GPU rentals in favor of custom silicon to accelerate training and slash operational costs. Mastering the hardware unlocks AI’s economic potential, positioning compute as the era’s ultimate powerhouse.

US consumer sentiment is plummeting: The University of Michigan’s Consumer Sentiment Index dropped 3.3 points in November, reaching 50.3, the second-lowest level ever recorded. This sharply missed forecasts of 53.0 points and represents the fourth straight monthly fall. Current conditions plunged 6.3 points, to 52.3, marking the all-time low. Consumer expectations declined 1.3 points, to 49.0, the third-lowest reading since July 2022. Consumer sentiment now stands below levels from every past recession, even surpassing the 2008 crisis. US consumers increasingly believe a recession is already underway.

THE SEMICONDUCTOR VALUE CHAIN Fabless Chip Designers $GOOGL custom TPU and cloud AI processors. $AMD powerful CPUs and GPUs for high performance. $NVDA AI accelerators and data center graphics units. $AVGO networking, connectivity and ASIC offerings. $QCOM semiconductors for mobile and automotive use. $TSLA custom FSD and vehicle computing silicon. $META specialized inference chips for AI tasks. $AAPL proprietary SoCs for devices and AI processing. $MSFT AI acceleration silicon for Azure and Copilot. $MRVL chips for data centers, storage and networking. Foundries $TSM leading producer of advanced process nodes. $INTC dedicated Custom Foundry for contract production. $SSNLF versatile foundry handling logic and memory. $GFS top provider for automotive and IoT chips. Testing and Packaging $TER dominant in automated test equipment. $AMKR services for outsourced assembly and testing. $AEHR systems for burn-in and reliability checks. Design Software, R&D Tools and IP $SNPS EDA tools for electronic design automation. $ARM licensing of processor IP and architectures. $CDNS solutions for chip design and verification. $LSCC low-power FPGAs suited for edge and industrial. Manufacturing and Assembly Equipment plus Fab Services $ASML lithography machines for cutting-edge nodes. $AMAT deposition and etch tools in fabrication. $LRCX equipment for etch and deposition. $KLAC systems for process control and metrology.

THE ELECTRICITY VALUE CHAIN $CCJ uranium mining and fuel supply. $CEG nuclear fleet operations for steady baseload. $SMR scalable small modular reactor designs. $OKLO compact advanced fission powerhouses. $EOSE zinc-based batteries for extended energy storage. $GEV turbines and grid integration equipment. $VRT advanced cooling systems and power management. $VST agile gas plants paired with battery backups. $TSLA megawatt-hour battery packs for grid stabilization. $FSLR efficient cadmium telluride panels tailored for massive facilities. $NNE large-scale solar and wind project development. $TLN regional clean energy production across North America. $BWXT precision reactor parts and enriched fuels. This chain masterfully covers the full spectrum from source materials to end-use infrastructure, ideally suited to ride the massive power wave fueled by data center expansion and smart diversification.

Nvidia’s CEO Jensen Huang stated that AI demand is surging month after month, prompting him to request additional wafer capacity from TSMC. During his Taiwan speech, he highlighted TSMC’s critical role in Nvidia’s achievements, declaring, “Without TSMC, there is no Nvidia.”

Brookfield CEO Bruce Flatt, managing more than a trillion dollars in real estate, infrastructure, and energy assets, insists no bubble exists yet a major construction phase is starting. He pointed out that leading firms in this period boast balance sheets tougher than numerous countries and are securing enduring physical assets with over a decade of predictable cash flows backed by locked-in financing rates. Driven by AI processing needs, widespread electrification, and rising populations, worldwide electricity capacity must grow by more than 25000 terawatt-hours over the coming 15 years. Markets label it overhyped, but reality shows significant undercapacity.

Firms embracing artificial intelligence continue to recruit experienced professionals at steady rates, yet they significantly reduce entry-level positions, according to insights from Hosseini. This shift highlights how automation handles routine tasks, demanding more strategic oversight from seasoned experts while limiting opportunities for newcomers to gain foundational skills. It creates a talent bottleneck that could stifle long-term innovation unless companies invest in upskilling pathways.

BREAKING: Worldwide broad money exploded +6.7% year-over-year last September, smashing records at $142 trillion. This aggregate spans 169 nations, capturing 99% of planetary output. So far this year, liquidity ballooned +9.1%, fueled overwhelmingly by China and America. From the millennium onward, the total skyrocketed +446%, adding $116 trillion, delivering a +7.0% compound yearly clip. China commands the biggest slice now, holding $47 trillion or fully 33% of all global cash. The European bloc trails with $22.3 trillion at 16%, matched almost exactly by America at $22.2 trillion and another 16%. Liquidity just hit escape velocity.

Alternative insights reveal accelerating weakness in America’s employment landscape. Data shows domestic nonfarm payrolls fell by 9,100 positions last month, marking one of the steepest plunges in recent history. Signals come from corporate hiring pages, professional networks, job boards, and temp agencies. The October slide stemmed mainly from public sector cuts that eclipsed slim private hiring growth. At the same time, the prior month’s count got slashed by another 27,100, landing at just 33,000 added. Cumulatively, official tallies for summer and early fall have been trimmed downward by 142,500 roles. The fractures running through our workforce keep widening.

Jerome Powell just stated that job growth has slowed almost to a halt, blaming artificial intelligence for the shift, according to Fortune reports.

NVIDIA’s CEO Jensen Huang explained he never claimed China would “win” the AI competition, only that they’re advancing quickly with half the globe’s AI experts and leading open-source models. Velocity has become the key advantage in AI, and America cannot risk falling behind.

Real estate ETFs lag far behind broad market gains over the decade, proving stocks deliver superior long-term growth despite property’s stability appeal.

BREAKING: American consumer sentiment just crashed to its second-lowest reading ever recorded. The mood has sunk even deeper than the darkest days of 2008.

Most people desperately seek control, yet markets exist to show you it was never yours to begin with. True control lies in your personal framework. When you understand your reason for holding an asset and it remains unchanged, then the dips on display are merely background noise.

META: $600B+ AI INFRASTRUCTURE INVESTMENT This massive push funds multi-gigawatt AI superclusters like Prometheus in Ohio and Hyperion in Louisiana, powering next-gen models with over one million GPUs. Meta pays full utility costs, restores more water than it uses, and directs $20 billion to local contractors for steel, piping, and fiber work. Since 2010, these projects have backed 30,000 trade roles and 5,000 permanent positions, proving AI infrastructure builds real communities, not just servers.

Looking at this chart, it’s clear unemployment only truly explodes during those brutal downturns, but right now, with layoffs piling up faster than expected, we’re skating dangerously close to another edge. Everyday policies keep things afloat in good times, yet they crumble when shocks hit, leaving workers exposed. Time to prioritize resilience over short-term fixes to avoid the next cliff.

Stay grounded in the big picture: AI enthusiasm has made investors overly jumpy to every little dip. The S&P 500 sits just 5% below its all-time peak and has climbed 36% since early April, but fear levels hit extreme lows. Nvidia wiped out hundreds of billions in value over recent days after comments highlighted China trailing the US by mere nanoseconds in AI progress. Headlines now trigger massive overreactions across markets. Truth is, the S&P 500 typically sees at least three drops of 5% or greater every single year, even while delivering around 10% average yearly returns. After surging more than 40% in half a year, a pullback of 5% to 10% falls well within normal bounds. Top investors ride out these swings with steady resolve. We’re deep into a once-in-a-lifetime tech transformation. Let the ups and downs fuel your focus, not your fears.

Nvidia’s CEO Jensen Huang explained that Blackwell chips won’t ship to China and his remark about “China will win” was about their tech prowess, not any Nvidia stance. He noted that any potential future market reentry hinges solely on China’s own policy choices.

The Magnificent Seven crush the S&P with far superior returns, proving elite tech giants dominate market performance.

US Government Shutdown Update: 1.— 42 million individuals encounter disruptions in SNAP benefits 2.— 3.5 million travelers experience airfare complications 3.— 750,000 workers placed on furlough 4.— 5,000 daily flights facing cancellation 5.— $15 billion weekly hit to US GDP 6.— $10 billion in SNAP funds endangered 7.— 23% of federal workforce scheduled for furlough 8.— 10% drop in flight operations across 40 airports We have now reached day 37 of the ongoing government shutdown.