TMTB Morning Wrap

Good morning. Futures -15bps early. Asia stocks mainly red overnight: TPX -2.13%, NKY -1.79%, Hang Seng +0.06%, HSCEI -0.15%, SHCOMP -0.09%, Shenzhen -0.92%, Taiwan TAIEX +0.32%, and Korea KOSPI -0.81%. Yields down 1-2bps across the curve. BTC +1.5% this morning to $88k although it fell 3% yesterday.

Earnings start in full force this week. Should be a fun one:

Lots of good stuff to get to this morning, so let’s get to it…

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NVDA/CRWV: NVIDIA and CoreWeave Strengthen Collaboration to Accelerate Buildout of AI Factories - PR

CRWV +10%

NVIDIA (Nasdaq: NVDA) and CoreWeave, Inc. (Nasdaq: CRWV) today announced an expansion of their long-standing complementary relationship to enable CoreWeave to accelerate the buildout of more than 5 gigawatts of AI factories by 2030 to advance AI adoption at global scale. Through a new collaboration, CoreWeave and NVIDIA are accelerating the buildout of AI factories to meet enterprise demand.

In addition, NVIDIA has invested $2 billion in CoreWeave Class A common stock at a purchase price of $87.20 per share. The investment reflects NVIDIA’s confidence in CoreWeave’s business, team and growth strategy as a cloud platform built on NVIDIA infrastructure.

Interesting on CPUs:

CoreWeave will be among the first to deploy forthcoming Nvidia products, including storage systems and a new central processing unit, or CPU. ...The announcement also puts a spotlight on a new business avenue for Nvidia. The CPU, which carries the Vera brand, marks the first time the company has offered such a chip on a standalone basis. “

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Clawdbot: Taking X by storm this weekend, newest AI “Moment”

Put simply, Clawdbot is an open-source personal AI assistant that runs locally on your computer and interacts with you through messaging apps like Telegram, Discord or Whatsapp. Clawdbot is a "body" for Anthropic's Claude: it uses the Claude AI model as its intelligence to understand your requests, while the bot part gives Claude the "claws" (permissions) to actually touch your files, run code, and message you.

How to play it?

Many out there buying MacMinis (v small % of AAPL revs) to be able to run this. Tough to see what stocks benefit from this other than the usual “more compute” but we think DOCN is the probably the sneaky play here as many spooling up VPS (virtual private servers) to run this non locally for security issues although best experience seems to be running it locally:

Cybersecurity companies like CRWD, ZS and NET’s (+4%) Cloudflare Tunnels also benefit.

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AAPL: Will release Gemini powered Siri in 2H of Feb. Mark Gorman goes into more detail here

• Phase 1 (iOS 26.4): Arriving March/April 2026. It uses Google Gemini but is internally labeled “Apple Foundation Models v10.”

• Phase 2 (iOS 27): Arriving Summer/Fall 2026. A fully overhauled Siri (codenamed “Campos”) will run on a more advanced Gemini model (”v11”) hosted directly on Google’s cloud infrastructure (TPUs).

Interesting quotes: