Venture Enjoyer

$MSFT is up around 3.5% today, outperforming a weaker broader tape, with Bill Ackman saying Pershing Square has built a new position to be disclosed in a filing later today. Investors are also reacting to revised Microsoft-OpenAI terms seen as supportive for Azure AI monetization. The debate is whether these headlines mark a temporary sentiment boost, or reinforce the broader case around Azure, M365, and OpenAI exposure.

this feels surreal

$TSLA is down about 3.5% as investors react to a softer macro tape and the lack of any China FSD approval update from Trump’s trip. China FSD approval remains a key catalyst, with robotaxi timing and broader autonomy rollout still central to the growth narrative. The debate is whether the China timing uncertainty delays the software upside case, or whether investors keep looking through it to the longer-term autonomy story.