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Meta led the entire Spreads leaderboard this week. +11.1%. Best weekly move for META since early 2024. Four things are happening. 1. Muse Spark and Muse Image • New AI models. Muse Spark is aimed at agentic and coding workloads • Zuck pitched it as "a strong agentic and coding model at a very low price" • Direct shot at Anthropic and OpenAI on price 2. Superintelligence Labs • Meta Superintelligence Labs, led by Alexandr Wang (former Scale AI CEO) • Independent research firm gave Meta high marks on their frontier roadmap • The 2025 pivot is starting to produce results 3. The Iris chip goes to mass production • Meta's custom AI chip codenamed Iris enters production in September • Targeting 14 gigawatts of compute next year • Cuts Nvidia dependency and long term inference cost 4. A cloud business • Meta will lease out its excess AI compute capacity • Directly competes with AWS, Azure, GCP • The biggest capex line on the tape just turned into a revenue business The read: $META was priced as an ad company with a giant AI capex problem. This week they turned the problem into a business. @Meta on Spreads.

Total tokenised equity market cap is about to hit $2b Ondo and xStocks continue to lead the way with Securatize, Dinari and now both Robinhood and Coinbase joining in. It's becoming a compelling distribution strategy for chains like Mantle, Ink and Solana for listing these assets within their ecosystem + getting DeFi integrations for users to come and do more with their assets. I think it was pretty cool to see how SpaceX became pretty much available everything with good liquidity on IPO day and sets the trend for how this will look for future IPOs. Anthropic, OpenAI, Stripe, Tether, Discord, ByteDance, Shien, Revolut etc will all get tokenised with permission-less access, and that in some ways is what I love about crypto. RWAs are left right and centre and now the products are good enough, liquid enough and varied enough that I think it actually now starts to all make sense. You can buy $100,000 of AMZN with sub 10 bps fees, you can ape Franklin Templeton's onchain ETF, you can buy exposure to GPU credit via USDAI, you can buy bond products onchain, you can buy alt-USD fiat, it's really quite a drastic difference to where we were just 1 or 2 years back. Whilst total DeFi TVL is down drastically from ATH, most of that is because of higher prices for BTC and ETH. With RWAs, I think we'll see our biggest opportunity to surpass the 2021 highs. We finally have real tangible assets with value onchain. I'm looking forward to how we can unlock the next use cases of these assets through DeFi rails. I think for this to happen, we're going to need to incentivise and educate users on doing more with their stocks on chain. I think chains like Mantle + Sol look like they're going to do this. The most important is being able to borrow against your collateral - unlock this and DeFi TVL can grow to $1 trillion. Who's going to benefit? The asset issuers who will make revenue from AUM + mint/redeem. The applications who monetise from DeFi usage of the assets on their apps. The chains who can bring users to their chain through the products built on their infra or even better, end up building apps themselves.

Heads up to early Spreads v1 users We're winding down the original yield and points vaults. Users can redeem and get back USDC. Points will be kept for future airdrops across all the protocols farmed. Please withdraw in the next month as we wind down the operations for managing these vaults. Tokenised stocks in Spreads v2 continues as usual!

The dips are here... Will the stocks keep ripping back to highs again? What will you do anon? Buy now on Spreads.

Robinhood is back above $100. On March 30, $HOOD traded at $65.16. That was the 52 week low. 11 weeks later: $107. Up 65%. One of the best performing US stocks since the start of Q2. Why HOOD turned: • Crypto rally pulled trading volume back. Equity and options volumes followed • Bitstamp acquisition closed and integrated. Robinhood now runs one of the oldest crypto exchanges in Europe • Prediction markets product launched and scaled into the election cycle • Robinhood Gold subscribers passed 3 million, recurring revenue keeps growing • Tokenized stocks launched in the EU. Same architecture that powers Spreads xStocks • Q1 earnings beat on revenue and EPS. Margin expansion came earlier than the street modeled • Wealth management and futures rolling out for retirement accounts Why it matters: Robinhood is becoming a full retail financial stack. Spot crypto, equities, options, futures, prediction markets, retirement, debit, savings. The model the market priced as a meme stock business in 2021 has quietly turned into one of the highest growth fintechs on the tape. The comeback isn't priced in yet. The 52 week high is still $152. That's where it was last October. HOOD is on Spreads.

19 assets in the world over $1 trillion, one of them is Elon Musk himself Elon Musk > Bitcoin wow

SanDisk just printed a new all time high at $2,085. YTD: +658%. From $41 last August to $2,085 today. A 51x in 10 months. The memory thesis the market kept underpricing: Why memory is the AI bottleneck nobody priced in: • Every AI cluster needs two memory layers: HBM (next to the GPU) and NAND (storage for training data and inference cache) • NAND is now structurally undersupplied. Hyperscaler buildouts pulled forward years of demand in a quarter • Memory pricing was deflationary for 30 years. It just turned structurally inflationary Why SNDK specifically: • Spun off from Western Digital in early 2025 as the pure play NAND leader • Largest BiCS architecture player. Highest bit density per wafer in the industry • Q3 FY26 revenue grew 251% YoY • Beat guidance by $1.15B in a single quarter The supply chain: • NVDA ships the GPUs • MRVL connects them with silicon photonics • SNDK and MU feed them memory • DELL and SMCI rack them • CEG powers them Every dollar of AI capex flows through these names. $1T of hyperscaler AI capex committed through 2027. Memory was the part of the chain the market underpriced. SNDK on Spreads. NVDA, MRVL, MU, DELL, SMCI, CEG too.

Here's everything that happened across the OP Stack ecosystem this past week 💳 @ether_fi launched fiat transfers in 6 currencies across 120+ countries. Pay rent, bills, send money internationally, all from etherfi. Supports ACH, SEPA, PIX, SWIFT, and more. Plus instant crypto sends across OP Mainnet, Arbitrum, Base, Ethereum, Hyperliquid, Solana, and Tron 🇺🇸 @nadoHQ hit a major milestone on Ink. US equities now work as collateral for perp trades for the first time onchain. Deposit SPYx and QQQx, retain spot exposure, and trade across crypto, commodities, equities, and FX under one portfolio-margin system 🐙 @inkonchain published the full InkWorks Cohort 00 breakdown. Six teams building the app layer for tokenized assets: @spreads_fi, @battle_fyi, @tmrwfinance, @soil_farm, @piggybank_fi, and more. Up to $30K per team, Kraken distribution, and a demo day with tier-1 VCs 🏦 @vsntoken published its May Q&A. The community's main question: when does Vision move from roadmap to measurable usage, revenue, and token impact. Foundation is in place with Vision Wallet, Vision Protocol, governance, and the @Optimism partnership 💿 @soneium's Carnival powered by @StartaleApp wraps up June 17th. Final week to finish quests and collect rewards ✨ @zora is building Agent features and offering sneak peeks to @NousResearch Hermes and @openclaw agent runners 🟦 @base is becoming the home for agentic commerce with over $50M spent on services by agents via x402 🌐 @worldnetwork entered Phase 3 of The Simple Plan: utility at scale. 18M+ verified humans, 450M+ World ID uses. Shifting from token-based incentives to utility-driven growth with enterprise integrations across @zoom, @docusign, @Tinder, and agentic systems. World ID fees coming for enterprise use cases 📝 @Lisk published a breakdown on the multi-entity problem. Why internal liquidity transfers that should take an hour often take two days, and how multi-ledger reconciliation becomes a nightmare at month-end 🌱 @superseed launched the new Superseed app on Ethereum. Phase 1 introduces a Strategy Marketplace for earning, leveraging, and staying liquid across the best of DeFi. Curated, composable, and transparent by default 🟧 @build_on_bob integrated @SOCKETProtocol into BOB Gateway. Cheapest swaps from native BTC to stablecoins, wBTC, and tokenized gold 🐴 @DeriveXYZ partnered with @NautilusTrader on a guide for running delta-neutral options yield strategies onchain. Sell vol, manage delta, hedge automatically, all self-custodial with EIP-712 signed orders 📊 @OrderlyNetwork shipped SDK v3.1.1 with pre-market support, enabling builders to offer perpetual trading markets before an official market is live 🟡 June 15th is the last day to submit for the @CeloDevs Onchain Agents Hackathon. $5K in $CELO bounties across three tracks. Winners announced June 17th 🟨 Stablecoin supply is up 10% on @Celo in the past week. Higher growth than on most other chains 🧋 @bobanetwork laid out its H2 vision. HybridCompute is the hard part done. The network has proven security with real specialization. Now focused on converting stored potential into kinetic energy through product-market fit Did we miss anything? Comment below 👇 Check out our website to stay up to date on all things OP Stack ⬇️

Pharma led this week. Six of the top twelve movers on Spreads were healthcare names. Here's the deeper read on five biotech names worth knowing. $NVO Novo Nordisk. The GLP1 incumbent. • Wegovy and Ozempic franchise • SELECT trial: 20% lower heart attack and stroke risk in non diabetic patients • Oral semaglutide moving to higher doses • CagriSema combination drug as the next gen weight loss candidate • $1T global obesity market, under 5% penetrated • Stock sits well off highs while LLY took the headlines • Classic value rerate setup inside a growth sector $HIMS Hims & Hers. The AI native pharmacy. • Subscription pharma model growing 40 to 50% year over year • AI prescribing flow handles millions of consults at a tenth of clinic cost • Started with ED, now covers weight loss, mental health, hair, derm, hormones, longevity • Compounded GLP1 business proved the unit economics • Becoming the DTC pharma front door for a whole generation $LLY Eli Lilly. The obesity leader. • Mounjaro and Zepbound (tirzepatide) took the lead from NVO • Retatrutide: triple agonist, over 24% weight loss in trials • Orforglipron: oral GLP1 with late stage data coming • Donanemab already approved for Alzheimer's • Largest pharma by market cap • Closest thing to a category killer the sector has $ABBV AbbVie. The post Humira success story. • Replaced Humira revenue with Rinvoq and Skyrizi (rare in pharma) • Deep immunology and oncology pipeline • Allergan aesthetics business adds optionality • Dividend yield north of 3% gives you carry while you wait • Reasonable multiple in a sector finally getting a tailwind $MRK Merck. The oncology king with a setup. • Keytruda is the highest revenue oncology drug ever sold ($30B plus annually) • 2028 patent cliff worry largely priced in • Subcutaneous Keytruda coming for easier dosing • MK1084: KRAS inhibitor for hard to treat cancers • AI designed candidates in early stage trials • Weak stock in 2025 and 2026 with real long term catalysts Five names. One thesis. Rate cuts. AI. Proven GLP1 economics. NVO, HIMS, LLY, ABBV, MRK. All on Spreads.

Last week on Spreads (1 → 8 June): 1. MRVLx +31% - Jensen Huang's trillion-dollar nod 2. ABBVx, LLYx, MRKx, UNHx, JNJx, ABTx - pharma everywhere, is this the beginning of a biotech/pharma rally? 3. JPMx, BACx - big banks bid 4. PGx, WMTx, LINx - staples + industrial gas When the leaderboard tilts this defensive, capital is repositioning behind the headlines.

4 Sectors To Invest In 2026 Back again with the 5 Figure Escape (Episode 20) In this video we cover: - The BTC Crash + STRC effect - Hyperliquid effect - Recent correction in Equities - Sectors I'm interested in and why - One token I'm buying!

On Wednesday, the largest quantum computing IPO in history starts trading on Nasdaq. Ticker: QNT (Quantinuum). Target valuation: up to $14.5B. Most retail doesn't know who owns it. Honeywell (HONx on Spreads) owns ~48.1% of Quantinuum post-IPO. That's roughly $7B of quantum exposure already sitting inside a $148B industrial conglomerate and almost nobody is modelling HON that way. The math: · QNT IPO valuation: up to $14.5B · HON's post-IPO stake: 48.1% (Class A + Class B voting power per the S-1) · Implied HON stake value: $7B · HON's current market cap: $148B · So roughly 1 in every 21 dollars of HON's market cap is already a Quantinuum bet Why Quantinuum is the marquee quantum name: · World-record Quantum Volume: 33.5 million orders of magnitude beyond IBM's best published number · Microsoft Azure Quantum's lead hardware partner · Trapped-ion architecture with 99.921% two-qubit fidelity best-in-class · Helios system (Nov 2025): 98 physical qubits, 48 logical qubits Why the math matters: Pure-play quantum names (IONQ, RGTI, QBTS, QUBT) trade at huge revenue multiples on quantum narrative usually with smaller, lower-fidelity hardware. QNT will be the largest, most institutional public quantum company by an order of magnitude. If QNT trades at any premium to its $14.5B IPO price (every recent quantum listing has), HON's stake immediately re-rates even though sell-side still models HON as a boring industrial. HONx is on Spreads. The quantum exposure is already there. Most people just haven't done the math yet.

Got a few for you guys, all onchain, spot and available to buy. $UUUU - Energy Fuels, the only US producer of both uranium and rare earths $NLR - VanEck Uranium & Nuclear ETF, the broad basket containing some of the biggest blue chips $URA - Global X Uranium, pure uranium miners ETF

@0xSmerfik @Hundert1000 @extendedapp @spreads_fi

Uranium summer is starting today

Jensen Huang says - "Nobody uses AI better than META" He's called out the companies winning before. He thinks they're investing more into AI because they will get much more out of it in the future. $META is currently the cheapest Mag7 P/E stock. Where does this stock go next? Buy it today on Spreads.

"The next trillion-dollar company, ladies and gentlemen." Jensen Huang said that about Marvell at Computex this morning. $MRVL closed +29% a new all-time high at $284. The stock added $40B in market cap on a sentence. Why Jensen meant it: · Marvell makes the silicon photonics + networking chips that let thousands of Nvidia GPUs operate as one machine. No Marvell → no working AI cluster. · In March, Nvidia announced a $2B investment in Marvell and a deepened multi-year partnership. The stock is up over 30% in the last 24 hours. The AI supply chain isn't one ticker. NVDA ships GPUs. MRVL connects them. DELL racks them. SNDK + MU feed them memory. CEG powers them. All on Spreads.

DELL just had its best single day in company history. Who's behind the demand: Microsoft, Meta, Amazon, Google, Oracle all running Nvidia GPUs in Dell PowerEdge racks. The same hyperscalers signing nuclear PPAs to power these servers. Q1 FY27 earnings (reported Thursday after close): Revenue: +88% YoY AI server revenue: +757% YoY to $16.1B up from $1.9B a year ago. The entire AI segment 8x'd in 12 months. EPS: $4.86 vs $2.94 expected (a 65% beat one of the biggest in mega-cap tech) AI backlog: $51.3B record AND that's after converting $24.4B into firm orders this quarter Pipeline described as "multiples of backlog" Analyst reactions: - Ben Reitzes (Melius Research): "I've never seen anything like this quarter." - Morgan Stanley: "One of the most impressive quarters we've seen in our time covering Hardware, especially in the context of what is happening across the component universe." The thesis: Nvidia ships the GPUs. Dell ships the racks they live in. SanDisk and Micron ship the memory that goes inside. Constellation Energy supplies the power. Every AI capex dollar moves through these names. $DELL is available for you all on Spreads today.

AI runs needs energy and when solar stops at night. The grid needs something that doesn't stop. Microsoft restarted Three Mile Island. Amazon bought a nuclear data-center campus. Meta signed a 20-year PPA. Google contracted SMRs. They're all betting on nuclear. Spreads has the 5-name basket: $CEG - Constellation Energy, 21 US reactors, the marquee utility holding the Microsoft + Meta PPAs $UUUU - Energy Fuels, the only US producer of both uranium and rare earths $USAR - USA Rare Earth, critical minerals for the fuel cycle and the grid build-out And 2 indexes for you all: $NLR - VanEck Uranium & Nuclear ETF, the broad basket containing some of the biggest blue chips $URA - Global X Uranium, pure uranium miners ETF The hyperscalers already bet. The grid hasn't caught up yet. Buy now on Spreads.

The "AI trade" isn't just NVIDIA anymore. Every week, the same thing keeps happening. Semi-conductors keep going up. Last week we saw $MRVL, $SMCI, $MU and more keep running. Another green market for tech

Apple. Microsoft. Nvidia. Alphabet. Amazon. Meta. Tesla. 7 stocks. 35% of the S&P 500. A decade ago they were 12.5% of the index. Today, when you buy "the market," more than a third of your money goes to these 7. All 7 are on Spreads and available for you to invest

@Danieldavid204 Spreads mentioned