NewSong Capital Management, Inc.

11/19/2025

Worth considering

11/19/2025

Food for thought:

Jensen Huang’s Response Breakdown (from the ~3-minute clip)
• Starts by reframing the question: Instead of a direct yes/no, he says “let me just tell you what we see” and insists on reasoning from first principles in computing and computer science.
• Point 1: Moore’s Law has run its course — traditional CPU scaling is over, but demand for computing power has exploded far beyond what CPUs can supply.
• Point 2: Dramatic real-world evidence of the shift — Just 6 years ago, 90% of the world’s Top 500 supercomputers were CPU-based; today it’s reversed to ~90% accelerated (GPU-based). This proves the industry has already “voted with their wallets” on the necessity of accelerated computing.
• Point 3: The old software stack (data processing / analytics on data frames that powers banking, e-commerce, credit cards, etc.) already costs hundreds of billions of dollars annually and is hitting limits.
• Point 4: The last ~15 years of innovation was largely recommender systems (social feeds, ads, personalization) — that’s the bulk of what drove modern internet-scale computing.
• Point 5: Now we’re entering the generative AI (ChatGPT-style) as the second wave, and on top of that agentic/reasoning AI (Grok, o3, Claude, Gemini, etc.) as the third wave.
• Core argument: There is a fundamental architectural shift happening from general-purpose (CPU) computing to accelerated computing across the entire industry. This transition alone creates enormous sustainable demand.
• Closing implication: After considering this shift, the amount of remaining compute needed to fuel the coming agentic AI revolution is “substantially less than you thought” (i.e., we are nowhere near oversupply — in fact the opposite).
Summation / Did he say yes or no?
He very clearly said NO — we are not in an AI bubble.
He never uses the word “bubble,” but he spends three full minutes giving evidence why the massive capex and hype is justified by a once-in-a-generation platform shift in computing architecture. His tone and conclusion are the opposite of bubble-talk: this is a structural, irreversible transformation with proven trillion-dollar demand, not speculation. Classic Jensen — polite, long-winded, but the message is “the world is underestimating how much compute we’re actually going to need, not overestimating it.”

04/07/2025

Policy mistakes can and will be corrected: Time frame unknown.

04/07/2025

Trump has broken the core tenants of capitalism: Stability and Predictability. He has betrayed the core pillars of the US which form the basis of the reserve currency status for the US dollar.

09/18/2024

Fed put back in place. Near term market noise should be ignored.

03/23/2024

Anyone who advised you to avoid equity exposure over the last 12 months should be fired.

06/18/2020

https://www.wkrg.com/national/financial-expert-says-the-federal-reserve-is-instructing-in-fact-shouting-to-investors/

Despite civil unrest from protests throughout America in addition to the COVID-19 pandemic, financial experts say this continues to be a great time for investors to take action.

06/17/2020

Back on the record with Rose Ann Haven and WKRG with a new market call. Details to follow soon!

06/15/2020

Honored to have the opportunity to provide Rose Ann a view of the markets back in April. On the phone with Rose Ann now chatting about an update on my last market call. Stay Tuned for more!

MOBILE, Ala. (WKRG) –The novel coronavirus has a lot of people feeling anxious about not only short-term finances but long term. 401-K’s, investments people rely on for retirement have …