AI Supercycle

Markets, Distilled - #58

Welcome to the 58th edition of Markets, Distilled — your edge on where capital’s flowing across the exponential age.

---

1. Market Overview:

A. Not A Bubble Yet:

Despite record highs and bubble talk, positioning across investor groups remains light — far from the euphoria of a true top.

The real test will come from earnings and GDP growth, which will determine how far this rally can run.

Source: Mike Zaccardi on X

B. Bitcoin Breaks Highs:

Bitcoin smashed a new ATH at $125K after weeks of consolidation.

ETF inflows hit $3.2B — the second-highest on record — while Coinbase’s premium flipped positive, signaling large buyers are stepping in.

Source: Coinglass

C. The AI Capital:

The top five hyperscalers are set to pour $1.2T into AI infrastructure from 2025–2027 — more than double the last three years combined.

This massive capital wave will fuel multi-year growth across GPUs, data centers, power, and beyond.

Source: Daily Chartbook on X