Pre Market Thoughts - 17 Sep 26 FOMC came out with a hike as expected on consensus. Yields remain roughly unchanged. I think it is too early to decipher the impact of this decision and the resultant second order implications. SPX took an initial nosedive into the close, however it has recovered all losses thus far. Asia trading has also been roughly range bound with KOSPI and NKY both above water mildly. I called for a local bottom for semis on Monday and that the FOMC event to be a clearing event for risk. This has played out with semis above the Monday prints. To recap, with positioning so low, i think there is asymmetric risk for the upside vs the downside. NBIS has also raised pricing by 20% for on demand rates across the major GPUs. ORCL during its earnings call also said that "of all the GPUs that came up for renewal in Q1, that capacity was renewed or resold at a 20% premium to prior contracts". This is further validation of the massive compute shortage. I am comfortable holding my positions because i know that these are backed with strong cashflow generation. In situations like this, the ability to wait and to be patient becomes a super power. On the crypto front, majors have continued to trade soggily. ZEC, VVV remain strong contenders within the alt space. On chain continues to be slow as on chain leaders consolidate. My favourite sector to bid still remains AI within crypto. The token that i liked? yes its higher. Good luck!