Nov 5, 2025 5 min read Daily Rundown

⛵ Big Short

Plus: NBIM Says No to Musk, Animoca Returns to Nasdaq

Good Morning, Early Adopters!

From electric dreams to digital assets, the market’s next “big short” may not be about pessimism, but recalibration.

STOCK

Michael Burry Bets Billions on the AI Boom Being a Mirage

👀 What’s the move: The “Big Short” legend has opened nearly $1.1 billion in put options against Nvidia and Palantir, two of the market’s loudest AI champions. His Scion Asset Management disclosed that these short positions make up 80% of the entire fund, signaling a direct bet that the AI rally has reached its peak. Both stocks have soared this year, with Palantir up 305% and Nvidia up 48%, yet Burry’s latest filing shows he is betting that the party is over.

💡 Why it’s not boring: This is not a meme trade but a macro statement. Burry sees the AI sector’s capital expenditure cycle as circular, with companies investing in AI simply to sell AI to one another. If his thesis is correct, the market’s entire “AI productivity premium” could deflate much like the subprime bubble before 2008. The options reportedly expire later in 2026, suggesting he expects a slow unraveling rather than a quick collapse.

⛵ Key takeaway: When Michael Burry places a billion-dollar short, it is not a hedge. It is a warning shot aimed at the entire AI dream economy.

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TESLA

NBIM Says No to Musk’s $1T Fantasy Bonus

👀 What’s the move: Norway’s sovereign wealth fund — the world’s largest, with $2.1 trillion under management and a $17 billion Tesla stake — just announced it will vote against Elon Musk’s proposed $1 trillion compensation package. The fund praised Musk’s vision but slammed the deal’s “excessive size, dilution risk, and lack of succession mitigation.” It’s also voting against two Tesla board members and a company-wide stock plan that could indirectly reward Musk again.

💡 Why it’s not boring: NBIM is not just another shareholder; it is the moral barometer of institutional capital. When the world’s largest fund pushes back on CEO mega-pay, it pressures BlackRock, Vanguard, and State Street to take a stand between responsible governance and personality-driven capitalism. This decision becomes a litmus test for whether ESG principles still hold any weight in markets increasingly shaped by politics and charisma.

⛵ Key takeaway: When a trillion-dollar fund refuses a trillion-dollar man, the issue is no longer Musk’s paycheck; it is whether global investors still have the courage to say no.

BLOCKCHAIN

Animoca Sneaks Back to Wall Street

👀 What’s the move: Animoca Brands, the Hong Kong-based heavyweight behind hundreds of Web3 and gaming investments, is heading back to public markets through a reverse merger with Singapore’s Currenc Group. The deal, which gives Animoca 95% control of the new entity, effectively restores its U.S. market access and turns it into the first listed “digital assets conglomerate” spanning DeFi, AI, NFTs, and decentralized science.

💡 Why it’s not boring: This is less a comeback than a regulatory arbitrage. After years in private limbo, Animoca is exploiting the U.S.’s new crypto-friendly listing climate to tap institutional capital while staying offshore enough to dodge full SEC scrutiny. Its goal: become the BlackRock of digital assets — a publicly traded gateway to the altcoin economy. The ripple effect? Expect a fresh wave of crypto firms to follow, merging their way into legitimacy.

⛵ Key takeaway: Animoca isn’t just relisting; it’s reopening the Wall Street on-ramp for crypto.

STARTUP SPOT

🩺 Tala Health
“AI agents for real-world care.”
Combines autonomous triage agents with human clinicians to deliver instant, continuous healthcare and diagnostics.
→ Founded by Ritankar Das under Titan Holdings; raised $100 M seed (2025) backed by General Catalyst & Lux Capital; building an AI-native healthcare ecosystem positioned as the “Danaher of healthtech.”

🧠 Lambda
“The AI cloud built by AI engineers.”
Provides GPU cloud, training clusters, and software stack optimized for model training and deployment—powered by Nvidia H100 and upcoming GB200 systems.
→ Founded 2012 by Stephen Balaban; backed by Nvidia; signed multi-billion-dollar AI infra deal with Microsoft (2025); trusted by OpenAI, Anthropic & Stability; one of the fastest-growing independent AI clouds.

💾 Portal26
“Govern your company’s GenAI brain.”
Monitors, secures, and audits enterprise GenAI use—detecting shadow AI apps, tracking prompts, and enforcing compliance policies.
→ Founded 2022 by ex-Cisco execs Saket Modi & Harshit Agarwal; raised $9 M Series A (Shasta Ventures, Fusion Fund); named Top 3 Big Data & AI Startup 2023; expanding across Fortune 500 clients.

BAY AREA MEMOS

Waymo is launching robotaxi services in Detroit, Las Vegas, and San Diego, aiming to reach one million weekly rides by 2026.
UK court rules that Stability AI largely wins its copyright battle against Getty Images, with only limited trademark liability.
CEOs of HSBC and General Atlantic warn AI spending outpaces revenue with little near-term payoff.
Nvidia and Deutsche Telekom will build a €1 billion AI data center in Munich to power Germany’s “industrial AI cloud” and manufacturing transformation.
AI entrepreneur Ritankar Das launches Tala Health with a $100M seed round, expanding his Titan Holdings into an AI-driven healthcare conglomerate.

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