Portfolio Update +127%. 2 Sells & 5 Buys

Core Insights - The portfolio has achieved a return of 127% since August 29, 2022, significantly outperforming the SPY's 69% return, with a compound annual growth rate (CAGR) of 29% [1] - Concerns were raised regarding Microsoft having excess GPUs and OpenAI's ability to meet over $1 trillion in spending commitments, indicating potential challenges in the AI sector [3][4] - The market has seen significant declines in AI and growth stocks, with notable drops in companies like Nebius (17%), CoreWeave (22%), and Nvidia (10%) [5] Company Updates - Opendoor's stock showed resilience, recovering from a 25% drop to close unchanged after earnings, with the company undergoing a long transition [10][11] - IREN's stock was purchased after a 10% decline post-earnings, with the company maintaining a competitive edge due to its early lead in the AI cloud space [12] - Rocket Lab (RKLB) shares were bought again at $50 after previously selling at $65, indicating confidence in the company's execution despite valuation concerns [14][16] - A starter position was opened in Nebius (NBIS), with the belief that multiple winners will emerge in the AI sector, despite concerns about overvaluation [17][18] Market Trends - Valuations in the AI sector remain high, with potential for further pullbacks as the market adjusts to the current hype [7] - The ongoing AI boom is viewed as an opportunity for long-term investment in companies with significant growth potential [7] - Analyst ratings for IREN have shown volatility, with price targets being raised while maintaining sell ratings, highlighting the unpredictable nature of analyst assessments [13][15]