burningbushcap

$WLAC $BRUN COO (Harry Georgakopoulos) of @BoostRunGPUs giving an interview here, this is exciting as I think this may be the first time he is speaking publicly as COO of the company. Just some background on Harry Georgakopoulos, he built Blue Fire Capital with Andrew Karos, the CEO of BoostRun and was at Galaxy $GLXY before he joined @BoostRunGPUs. Here are some key highlights from the video: > When ChatGPT was released, him and Andrew already knew that this was something that they had to be at the forefront of and be at the base layer to provide the best hardware infrastructure. What does this tell me? They have foresight and are forward looking, understanding that they probably can provide more value than what they were currently doing and transfer some of that expertise they gained in HFT due to the parallels between HFT and Neocloud orchestration. > They understand that participants are not only looking for bare-metal access but orchestration layers, managed services, networking, storage, CPU nodes --> a holistic hyperscaler experience but at the bare metal level. This is going to be, and is a MOAT. > They work with the best in class aka vCluster to deliver the best customer experience to their users. --> this tells me they have enough industry knowledge and expertise to identify the best partners to work with and also know when to partner with others and when to build solutions in-house. > What does winning look like for an AI Cloud Provider? They want to become a mini or large AWS/Google Cloud/Oracle Cloud. To get there, they recognise that a smaller team is one of their limitations as they are competing against larger players. And they also recognise that different customers have different needs, being flexible enough to meet the demands of different customers. --> Imo, them being so lean is one of their strengths, not a limitation, just to remind everyone, their gross margins of 89.9% is one of the highest, if not the highest in the Neo-cloud space and that really speaks to how they are able to operate nimbly and still achieve results. Everyone is going to offer different kinds of services, bare-metal access, orchestration layers as they will want to capture as much market share as possible. What will separate @BoostRunGPUs apart is how WELL they are able to do it. Both from a quality perspective in terms of customer experience and also from a efficient perspective in terms of extracting the most margins. Overall, nothing too note-worthy from this interview but it's very nice to see them do some PR!

@stepnotonpets it's still so cheap. On the s-4 numbers (which are way low), it has to go to $30+ just to get to 10x EBITDA

$NBIS added 4 $WLAC in today's session alone. I don't think people are ready for $BRUN.

$GILT antenna

@pennycheck look at your DMs

*parody for those who know the pain

@stockgutter yup, early days. hard to know. $reax has a lot to prove and probably why it's trading like this especially given they paid well above their current multiple for it

I am just starting to get familiar with the companies but here are my thoughts: 1. they are not the same parent yet. They will be when the deal closes, and I think it will. I have no idea if the brands get merged. But you are right that if they keep both brands there is a chance some $RMAX brokers will switch to the $REAX brand. 2. Re monetization, agree that $REAX has not monetized effectively to date. I believe scale will help but acknowledge this needs to be proved out. ReMax also has a media segment I believe -- not sure what happens to that.

I like this deal. You don't hear much about $REAX because its not AI, but even before the deal it was an impressive grower (annual sales chart below). The deal will add scale to brokerage, capture cross-selling opportunities for mortgage/title, and spread technology expenses over a broader base. not involved yet

Dont look now, but Priory is the biggest component of the collateral pool for the crossed secured credit facility + the secured bonds.... $MPT What is going on at Priory? We are sure everything is fine, and MPT is being nothing but 100% transparent! This magnitude of reduction means results just fell off a cliff, even using MPT's fraudulent coverages.

$SHMD introduced its Any Layer ET process for full panel-level advanced packaging, a new substrate manufacturing approach aimed at AI, HPC, and glass-core packaging. The company says the platform is built for ultra-fine RDL, vertical interconnects, and high-volume production

Here is the backup: +$25MM increase (at least) in loans/advances in Q1:26 by $MPT to its largest US tenant entity. To record back just ~$17MM in rent for the quarter and call it "current!" This doesn't include another ~$10MM in "other impairments," which over the last year were just MPT covering former ML1 tenant opex! So likely higher! Make it now 9 straight years of lending to the (insolvent) operator of these assets. It's a fraud.

@unemon1 wasn't yesterday your deadline??

@unemon1 i feel like even you know we aren't getting a deal at this point!

$ABVX ... what kept MDG busy in Feb/march?

if you liked it in January, you'll love it now. Management did an update call with BTIG last week and it sounds like they could deploy nearly a billion dollars of GPUs this year vs their previous estimate of $400 million $WLAC

@pennycheck @joinyellowbrick absurd timing out of you!

@joinyellowbrick would take a pure genius to be able to time the exact top...

Huge shoutout to the $POET shorts who were brave enough to publicly take a stand against one of the hottest companies in the hottest themes. They were 100% correct. The stock is down 40% pre-market, and now (checks notes) only up 65% in the last month. (kids, don’t short story stocks in hot themes)

@unemon1 so you think this is the weekend. now or never w/ maintenance

If you're wondering why $VELO is performing while the space basket is struggling, it's because $VELO is deeply multi-theme. In my book it's a defense play, in spite of its high-profile space clientele.

$WLAC $BRUN $DELL Just scratching the surface here. But a deal at 2x it's market cap is a good start. As I said last week, 5m in call premium isn't a mistake.

Oh my

Mega bullish on the info we got for the $1.5T defense budget, drones, missiles, satellites. But there is one company that sits in all and actually makes all of it possible. $VELO. The OMB Director literally said today: "For the industrial base to double and triple capabilities, it requires multi-year agreements to purchase into the future." Bro. That's the Velo3D thesis word for word. Think about it. 200,000 drones need parts. Thousands of Golden Dome satellites need parts. PAC-3, THAAD, Tomahawk interceptors all need parts. SpaceX rockets need parts. Every single platform this budget is funding needs complex metal components that traditional manufacturing can't produce fast enough. Velo3D prints them. In the US. Already DoD certified. Already on contract. Don't forget about the NDAA ban from buying 3D printers made in or connected to China, Russia, or Iran. Every competitor got disqualified from the US defense supply chain. VELO is 100% US-made. Assembled in Fremont. DoD cybersecurity compliant. There's basically no one else who can do what they do at this scale domestically. Space Force procurement just went from $3.6B to $19B. Munitions up 188%. $54.6B for autonomous drone systems. The industrial base has to scale dramatically and fast. That's not a tailwind for Velo3D. That's the entire reason the company exists. $VELO is the picks and shovels on the largest defense buildup in American history. $1.5 trillion needs parts. Velo3D prints them.