Every Saturday I respond to reader emails in the AskDavis@paradigmpressgroup.com inbox.

Here are my responses to this week’s emails:

Can you redefine your interest in FNMA? I’m curious what your reasoning is for owning this stock and what your expectations are for it. – Daniel

Thanks for the question, Daniel.

You can check out my reasoning for owning Fannie Mae here.

I went to the “Analysis” tab on Yahoo! Finance to find Nvidia’s earnings estimate revisions. However, I was unable to get the numbers from the tab that you reported in your Monday email. – Joe

Hi, Joe! The numbers are in the last column in the screenshot below.

Note: Nvidia’s fiscal 2028 is calendar year 2027. In my Monday article, I’m referring to calendar year for simplicity.

I hope this helps!

Can you get Ray Blanco’s take on the class action lawsuit against AST SpaceMobile (ASTS)? – Arthur

Here’s some background for people who might not be familiar:

AST SpaceMobile is being sued by a small group of investors, claiming ASTS made its financial position and competitive strength look better than they really were. They allege ASTS actually needed more money – which meant more debt and issuing more shares – while also facing tougher competition and slower customer adoption than investors were led to believe.

From Ray: “Bottom feeding law firms always do this. It's a nothingburger.

It's the standard plaintiff-firm wave after a drop. These PRs are recruiting ads looking for plaintiffs. Their dilution argument (which is the complaint) is hard to win when the raises were disclosed publicly as they happened. Furthermore, even if they were to bring a case (which I doubt) these things take years and years to resolve.”

From Davis: For more info on how these lawsuits really come about, check out this article I once wrote about the man suing Elon Musk for his large pay package.

Could SpaceX (SPCX) buy AST SpaceMobile (ASTS) at some point? – John

Funny enough, ASTS just updated the severance policy it offers executives when a change of control event happens.

Naturally, investors are speculating that a takeover deal could be in the works.

Ray Blanco agrees: “ASTS is naturally attractive to a whole lot of suitors. Look what's been happening to the rest of the sector. Lots of buyouts. I don't think (CEO) Avellan wants to sell though, and he has control.

A couple of important things happened this week. Its BlueBird 11 satellite unfurled from the most recent launch. The other two, 12 and 13 did that weeks ago. There was uncertainty that there was a problem with 11. Also, BB 14-16 have shipped to Kennedy Space Center. They go up soon. Finally, it looks like Blue Origin's launch tower is starting to go up. That means the pad repair is making progress after the explosion. Once that is done, Blue Origin’s New Glenn can start launching again, maybe by December. Those can carry 8 BBs.

Things are moving. The share price will eventually follow.”

You hinted in Friday’s article that SpaceX and Tesla could merge. Should we buy Tesla stock and wait for ticker change over to ELON? – Steve

Steve, great question regarding my Friday note: Elon’s Flying Car DELAYED.

I also wrote about the topic here: Ticker Symbol: ELON… Coming Soon.

To answer your question, no, I’m not buying Tesla right now hoping it eventually turns into an “ELON” mega-ticker.

Although I do expect Elon to eventually consolidate his companies into one, I’m still not a fan of the valuations Elon’s companies tend to get.

Plus, the structure of the deal will matter a lot in this case. The ownership split will be incredibly important.

For now, I think there are simply better opportunities elsewhere in the market where the risk/reward is clearer and the valuations are more attractive.

What's the catalyst for Bitcoin going higher? – Rodney

Rodney, you’re not going to get a fundamental Bitcoin explanation out of me. I fully understand the lack of traditional fundamentals behind this asset. There’s no cash flow, no earnings, etc.

But like it or not, Bitcoin has consistently attracted attention and buyers for the last 15 years. And more importantly, it has rebounded from every single selloff it has ever experienced.

Every crash, every drawdown, every “Bitcoin is dead” moment has been followed by a recovery.

And the current setup looks more likely to support a rebound than ever before:

• The crypto ecosystem is larger and more mature
• Regulation is finally taking shape instead of operating in a gray zone
• Institutional adoption is real, with major firms treating Bitcoin as a long-term asset class

None of that gives Bitcoin fundamentals in the traditional sense. But it does create a stronger foundation of demand than we’ve ever seen before.

Do you recommend any Bitcoin or Ethereum ETFs? I'm old school and I'd prefer not to use a digital wallet. – Marcus

Thanks for the email, Marcus. If you want crypto exposure without touching a wallet, the simplest route is spot ETFs. For Bitcoin, check out IBIT (BlackRock) or FBTC (Fidelity) – both hold real Bitcoin and trade like stocks. For Ethereum, check out Grayscale Ethereum Mini Trust (ETH) or VanEck Ethereum Trust (ETHV).

These aren’t perfect substitutes for holding coins directly, but they’re great for traditional investors who want to own crypto without the hassle.

Where Can I Read Previous Emails?

I constantly get questions regarding where to find previous alerts. Well, The Million Mission website is live and you can check out archived alerts here.

Portfolio Overview

Here’s what I’m currently holding in The Million Mission portfolio:

Fannie Mae (FNMA) – 3,500 shares @ $6.86/share

Nvidia (NVDA) – 200 shares @ $179/share

Micron (MU) – 50 shares @ $935/share

Special Shoutouts

Thank you to those who emailed in kind words and thoughtful comments.

Thanks for being along for the Mission.

Please keep the emails coming.

Instead, we’ll have to wait another two weeks.

Tesla postponed last night’s Roadster event until October 15, citing severe weather near the outdoor venue in Texas.

The company added that this event “can only be held outdoors.”

Which has people starting to wonder…

Because this isn’t expected to be a normal car reveal.

Elon Musk has spent years teasing a Roadster equipped with technology developed by SpaceX – including thrusters that could allow the car to briefly leave the ground.

Yes, there’s a chance we could soon see a flying Tesla.

So while we wait another two weeks, let’s go through everything we know about the new Roadster so far.

0–60 MPH in Under One Second

Tesla originally promised that the Roadster would become the fastest production car in the world.

Those ambitions have only grown.

Here are some of the performance numbers Tesla and Musk have discussed over the years:

• 0–60 mph: Under 1 second

• Top speed: More than 250 mph

• Range: Up to 620 miles

• Battery: 200 kWh in the original prototype

• Drivetrain: All-wheel drive

• Seating: Up to four people

• Roof: Removable glass panel that can be stored in the trunk

For some perspective, Tesla originally advertised a 1.9-second 0–60 time when it unveiled the Roadster in 2017.

Now Musk says acceleration under one second could be possible.

And apparently, that’s the boring part.

Musk has called the sub-one-second acceleration “the least interesting part” of the new Roadster and said the vehicle has a shot at producing the “most mind-blowing product demo of all time.”

So what could possibly be more interesting than going from 0–60 mph in under a second?

The Roadster Might Actually Fly

This is where SpaceX comes in.

Musk has said Tesla plans to offer an optional “SpaceX package” that incorporates rocket technology.

The idea is to install small cold-air thrusters around the vehicle.

These thrusters would rapidly release compressed gas to generate additional force, potentially improving:

• Acceleration

• Braking

• Cornering

• Top speed

Tesla engineers have apparently spent years figuring out how to make the system practical.

And Musk has taken the idea even further.

He has repeatedly suggested that the Roadster could hover or briefly leave the ground.

That could also help explain why last night’s unveiling had to be postponed because of severe weather.

If Tesla plans to demonstrate a sports car doing something airborne outdoors, bad weather could present an obvious problem.

We’ll have to wait until October 15 to see exactly what Tesla has built.

A $200,000+ Supercar

This technology obviously won’t come cheap.

Tesla originally announced the Roadster at:

• Base model: $200,000

• Founders Series: $250,000

Tesla has since removed those prices from its website, so the final Roadster could cost considerably more.

The company has continued accepting reservations, with sources reporting a $50,000 deposit required in the U.S.

And it’s important to note – this car isn’t supposed to be Tesla’s next Model 3 or Model Y.

The Roadster is expected to be a low-volume vehicle designed to showcase what Tesla's engineers can accomplish when price and practicality take a back seat to performance.

Think of it as Tesla’s technological showpiece.

What Does the Roadster Mean for Tesla Stock?

It’s important to know this car isn’t supposed to be Tesla’s next high-production vehicle.

The Roadster is expected to be a low-volume vehicle designed to showcase what Tesla’s engineers can accomplish when price and practicality take a back seat to performance.

Besides… Tesla doesn’t want its stock to be judged based on car sales anyway.

Tesla itself now describes its strategy as bringing “artificial intelligence into the physical world,” specifically through autonomous vehicles and humanoid robots.

These are much higher-growth industries, which could help explain Tesla’s sky-high multiples of 340x earnings and 14x revenue.

Perhaps the most important takeaway from the Roadster launch is that SpaceX and Tesla might creep even closer together.

We’ve already seen the two companies share technology, facilities, and employees.

Now SpaceX thrusters could literally be built into Tesla’s newest vehicle.

Is a merger between the two coming soon?

Musk has hinted about the tie-up himself.

He sarcastically stated: “Imagine what action one might take when there's so much close collaboration in so many areas…"

Hmmm…

And if the Roadster takes flight using SpaceX thrusters on October 15, it’ll be another sign that Tesla and SpaceX are moving closer to ultimately becoming one company.

He shared them yesterday during his first-ever live Ticker Tuesday call.

If you want to join the next Ticker Tuesday live, sign up for James’ VIP text list here.

By joining today, you'll also get a full replay texted straight to your phone.

Plus, you’ll get a few other perks, including weekly stock picks that he doesn’t share anywhere else.

Read on below for a recap of seven stocks James and his team recommended on yesterday’s call.

Pick #1: Corning (GLW)

James wasted no time pointing out just how massive the AI infrastructure buildout has become.

An estimated $10 trillion will be spent over the next few years – making this buildout bigger than the internet, railroads, and even the American highway system.

James says Corning (GLW) is one of the major beneficiaries of all this spending.

You probably know Corning for making Gorilla Glass for smartphones. But the company also manufactures the optical fiber and connectivity products that move enormous amounts of data through AI data centers.

As these data centers get larger, they need more fiber to connect thousands of GPUs and servers.

And similar to many other AI suppliers, Corning’s supply is sold out through 2030.

Stock Pick #2: Micron (MU)

Memory is a major key to the AI buildout.

James stressed this over and over again during the call.

AI chips need enormous amounts of high-speed memory to process and move data, putting Micron directly in the middle of the AI infrastructure boom.

James added that Micron is currently by far the cheapest mega-cap stock in the market.

Greg Guenthner – who was also on the call – agreed with James’ analysis and added that Micron’s stock looks “coiled” for a breakout.

He expects Micron to have a strong fourth quarter, using the exact words: “I expect this stock to rip.”

I already own Micron in The Million Mission, so you know where I stand.

Stock Pick #3: The AI Interconnect Companies

James actually gave us three stocks with his third recommendation:

Marvell (MRVL), Credo Technology (CRDO), and Astera Labs (ALAB).

James says all three need to be bought.

These companies are positioned around one of the most important parts of the AI infrastructure buildout: connectivity.

• Marvell develops networking, optical connectivity, switching, and custom chips.

• Credo specializes in high-speed connectivity products that move data between servers and other equipment.

• Astera Labs builds semiconductor-based connectivity products designed to eliminate bottlenecks between processors, memory, and other components.

James quoted Nvidia CEO Jensen Huang, who called Marvell “the next trillion-dollar company.”

That’s quite an endorsement.

Stock Pick #4: Bitmine Immersion Technologies (BMNR)

Greg Guenthner answered this simple question on the call:

If you had to buy one stock today and hold it through the end of the year, what would it be?

His answer was Bitmine Immersion Technologies (BMNR).

Bitmine is an Ethereum holding company – similar to what Strategy (formerly MicroStrategy) is for Bitcoin.

The company has accumulated a massive Ethereum position, giving investors another way to gain exposure to ETH through the stock market.

Greg believes the chart looks primed to move higher.

He also pointed out that Ethereum has historically performed well during the fourth quarter, giving him another reason to like the setup heading into the end of the year.

James agreed with the broader thesis.

He believes Ethereum is only going to become more useful as more applications and financial activity are built around its blockchain.

Stock Pick #5: Hyperliquid Strategies (PURR)

James followed Greg’s Ethereum play with another crypto-focused stock: Hyperliquid Strategies (PURR).

Hyperliquid Strategies is using the same playbook as Strategy and Bitmine – except this time the underlying crypto is HYPE.

Greg agreed with James on this one too.

He believes PURR’s chart looks primed for a breakout.

Stock Pick #6: Ginkgo Bioworks (DNA)

Ginkgo is a biotechnology company that uses software, automation, and massive amounts of data to help customers design and develop new biological products.

Its technology can be used across pharmaceuticals, agriculture, chemicals, and other industries.

Greg sees explosive potential in the stock.

With shares around $11, he believes the chart points toward $16-$17.

And if DNA can break through that level, Greg believes the stock could have considerably more room to run.

Stock Pick #7: Quantum Computing (QUBT)

James’ final pick was Quantum Computing (QUBT).

He pointed out that this is a $2 billion company with an enormous pile of cash sitting on its balance sheet and no debt.

The company raised money while investors were piling into quantum-computing stocks hand over fist over the past two years.

Now the hype has cooled considerably.

QUBT once traded around $25 per share and has since fallen below $9.

So now you’ve got a stock that has been crushed while the company is still sitting on an enormous pile of cash.

James doesn’t own the stock yet, but he’s continuing his research and says he could buy shares soon.

Here’s How to Join the Next Call

This is only a fraction of what James and Greg talked about yesterday.

But good news – James will soon be doing more of these live calls.

You can watch them live just by signing up to James’ private VIP text list.

Click here to sign up.

Thanks for reading.

Most investors never pay attention to it.

But research shows it’s one of the most reliable data points to forecast stock prices.

I’m talking about earnings revisions.

These are the adjustments that Wall Street analysts make to their earnings per share (EPS) estimates for publicly traded companies.

When estimates move higher, Wall Street is essentially saying that the company will make more money than previously expected.

And research shows that stocks with rising earnings estimates have historically outperformed those with flat or falling estimates.

Today, I’m showing you the research behind this phenomenon, and several stocks whose estimates are moving sharply higher right now.

The Data Behind Earnings Revisions and Stock Performance

Multiple studies have confirmed the link between upward earnings revisions and strong stock performance.

Barclays Equity Research (2013) – Found that stocks with the highest upward earnings revisions outperformed those with downward revisions by an average of 5–7% annually.

Bank of America Quantitative Strategy Report (2020) – Showed that stocks in the top quintile of earnings estimate upgrades delivered significantly higher returns over the following 12 months compared to those in the bottom quintile.

Jegadeesh & Livnat (2006) – Found that earnings momentum, driven by analyst revisions, had strong predictive power for future stock price movements.

McKinsey & Co. (2016) – Suggested that consistent upward earnings revisions correlate with higher shareholder returns over time, particularly in growth sectors.

The reason for this correlation is simple: analysts raise earnings estimates when a company’s business is getting stronger – revenue is growing faster, profit margins are improving, or the company is becoming more efficient.

Investors take these revisions seriously, leading to higher demand for the stock and, consequently, higher stock prices.

Nvidia: A Prime Example of Earnings Revisions Driving Stock Growth

I’ll demonstrate this phenomenon with Nvidia and then give you a few other companies with growing earnings estimates.

Despite the recent volatility caused by the “AI will kill us all” narrative, Nvidia’s earnings estimates continue to rise.

• 90 days ago, the consensus EPS estimate for 2027 was $12.75.

• 60 days ago, the consensus EPS estimate for 2027 was $13.03.

• 30 days ago, the consensus EPS estimate for 2027 was $13.26.

• Today, the consensus EPS estimate for 2027 is $15.57.

You can view these estimates for free on the “Analysis” tab of Yahoo! Finance.

This tab is one of my most-used stock picking resources on the internet.

Yet most investors don’t know it exists.

Tracking these estimates is a great way to tune out the “noise” of the market and focus on what really matters – earnings.

Plus, it can help you estimate price targets for stocks.

For example, let’s say high-growth tech stocks typically trade around 20-20x next year’s earnings – pretty standard.

• Multiply $15.57 by 20 and you get a low-end Nvidia price target of $311.

• Multiply $15.57 by 25 and you get a high-end Nvidia price target of $389.

Today the stock is trading around $230 – meaning the stock is trading at just 14.8x next year’s earnings.

That’s cheap!

Of course, this is a simple back-of-the-napkin math shortcut.

But take it from someone that used to value companies for a living – this is the bones of how valuation actually works.

Other Companies With Recent Earnings Upgrades

Nvidia isn’t the only stock benefiting from this trend.

Several other companies have consistently seen earnings revisions higher, making them strong candidates for continued stock appreciation:

Credo (CRDO) – Credo builds the high-speed connection chips and cables that transfer massive amounts of data inside data centers. Similar to Nvidia, the headlines are focused on fear while the underlying numbers tell a very different story. Credo’s 2027 EPS estimates have steadily increased from $8.85 to $9.70 over the last 90 days.

Micron (MU) – This is another stock with strong exposure to the AI buildout whose estimates continue to rise. Micron’s 2027 EPS estimates have increased from $149.74 to $160.19 over the last 90 days.

Chevron (CVX) – Here’s a non-AI stock that’s benefiting from higher oil prices. Chevron’s 2027 EPS estimates have increased from $12.63 to $14.38 over the last 90 days.

SpaceX (SPCX) – 90 days ago, Wall Street estimated that SpaceX would earn just $0.06 per share in 2027. Now the average estimate is $1.74. This is a big part of why the stock has rebounded lately.

But there’s an important caveat: With newly public companies like SpaceX, it’s important to give both SpaceX management and Wall Street analysts time to zero in on an appropriate earnings estimate. The more management speaks and the more Wall Street learns, the more accurate these earnings estimates will get.

Take it from someone who used to value companies for a living – earnings drive stock prices, and earnings estimates give us our best look at where those earnings are headed.

You can track them for free on the “Analysis” tab of Yahoo! Finance.

It takes less than a minute to check, and it’s the #1 indicator I look at before buying a stock.

Every Saturday I respond to reader emails in the AskDavis@paradigmpressgroup.com inbox.

Here are my responses to this week’s emails:

Several months ago I purchased a small position in Redwire (RDW). I was pleased with RDW for a while, but it’s not been great for quite a while now. I’ve lost 20% on my investment (although the last few weeks are looking up a little). I’d like to know what you might do. If this were your portfolio, would you keep 100 shares of RDW if you had it? Would you consider replacing it with Credo (CRDO)? Would you consider buying CRDO in addition to RDW? None of the above? – Mark

Thanks for the question! I like both Redwire and Credo.

They operate in completely different industries. Redwire supplies critical components to the space industry, while Credo provides the high-speed connectivity products used inside AI data centers.

The main difference is time horizon. The AI data center buildout is already happening at a massive scale, while the space economy will take longer to develop. So I view RDW as the longer-term play of the two.

I don’t own either of these stocks. But I should. And I’d like to own BOTH.

When you say you sold Uber for cash, do you mean "dry powder"? If not, do you put the cash towards your $1 million goal? – Wanda

Hi Wanda, yes I sold Uber for cash and that cash counts towards my $1 million goal.

That cash is the same as “dry powder” because it’s sitting in my account waiting to be deployed into the next opportunity.

Can this journey be followed with just a couple thousand dollars? – Sandra

Yes! You can start with any amount you are comfortable with. And with most brokerages offering fractional share ownership, buying proportional dollar amounts should be simple.

I didn't see anything on the web about the unsuccessful ASTS satellite deployment via Blue Origin. Where could I go to learn more about this? – Rick

Hi, Rick. Blue Origin’s unsuccessful deployment of ASTS satellites happened back in May. I previously wrote about it here.

In regard to finding news on the stocks I frequently talk about, just keep reading The Million Mission as I address all of the important market-moving updates.

And if you’re a member of James Altucher’s Investment Network, James and Ray Blanco have covered the ASTS trade pretty in depth over the last few years.

In fact, Ray first recommended the stock back in 2021, so he’s a great source of knowledge.

I bought ASTS several months ago and it has done nothing except lose. Do I have the wrong ASTS? – Marilyn

Marilyn, I’m sorry for your losses here. But this is a stock uniquely positioned to benefit from both the telecommunication and space economy.

The company has certainly had setbacks. But I own the stock myself and I’m sticking with it.

Did you sell Northern Dynasty (NAK)? – Kenneth

Yes! I sold NAK a few months ago. While it’s certainly a tradable stock, my contacts say the Pebble Project will never be completed.

In fact, the exact words used were: “They [NAK] are victims of targeting by the environmental and fundraising lobby. It will never get built in our universe.”

Everybody has a different opinion on this. And of course, this is only one source.

But I trust the man who told me this.

Where Can I Read Previous Emails?

I constantly get questions regarding where to find previous alerts. Well, The Million Mission website is live and you can check out archived alerts here.

Portfolio Overview

Here’s what I’m currently holding in The Million Mission portfolio:

Fannie Mae (FNMA) – 3,500 shares @ $6.86/share

Nvidia (NVDA) – 200 shares @ $179/share

Micron (MU) – 50 shares @ $935/share

That gives me a healthy chunk of cash to put back to work.

So what am I going to buy?

I’ve got a growing watchlist of stocks I’d love to own at the right price – from AI and semiconductors to autonomous vehicles, healthcare, and space.

Some are tempting to buy today. Others need to come down in price.

So today, I want to walk you through six stocks currently competing for my cash – and what I’m waiting for before pulling the trigger.

Advanced Micro Devices (AMD)

AMD is riding the same AI wave lifting the entire semiconductor industry.

AI requires an enormous amount of computing power, and Nvidia can't supply the entire world by itself.

So AMD has established itself as one of the biggest alternatives.

Wall Street expects revenue to surge from $51 billion this year to $88 billion next year, while earnings estimates continue moving higher as well.

I still prefer Nvidia. It’s cheaper, more profitable, and it has the superior product.

But fortunately, I don't have to choose just one winner.

The AI buildout is large enough for both companies to win.

What’s holding me back: Price. AMD is trading near all-time highs and its valuation is expensive compared with other semiconductor stocks I like.

Credo Technology (CRDO)

Credo might be one of the least exciting ways to make money from AI.

The company designs high-speed connectivity products that help move enormous amounts of data around AI data centers.

And business is exploding.

Revenue is expected to climb from $1.34 billion in 2025 → $2.5 billion in 2026 → $3.9 billion in 2027.

And earnings expectations are climbing just as quickly.

Only 90 days ago, Wall Street expected Credo to earn $8.85 per share next year. Today, that estimate sits at $9.70.

This is exactly what I look for.

When revenue and earnings estimates keep getting revised higher, the stock price tends to follow.

What’s holding me back: The stock just jumped 30% in less than two weeks. I’d love an opportunity to buy it on a pullback.

Eli Lilly (LLY)

Eli Lilly has become the gold standard in obesity and diabetes treatments, led by blockbuster drugs like Mounjaro and Zepbound.

And there’s a lot more happening here than two drugs.

Lilly continues expanding its pipeline while spending billions of dollars to increase manufacturing capacity to meet enormous demand.

At less than 25x next year’s expected earnings, I think the valuation is reasonable for a company with Lilly’s growth, profitability, and competitive position.

This is exactly the kind of high-quality business I’d be comfortable owning for years.

What’s holding me back: This may also be the problem for The Million Mission. Lilly looks more like a long-term compounder than the explosive opportunity I’m searching for in this portfolio.

Netflix (NFLX)

Netflix has become interesting again.

The stock got hammered as investors worried the company would acquire Warner Bros. Discovery and turn itself into a bloated, debt-heavy traditional media company.

Then management walked away from the deal.

One of the biggest concerns hanging over the stock disappeared, yet shares remain well below their highs.

Meanwhile, Netflix continues growing revenue and earnings.

What’s holding me back: I want to know whether Warner Bros. was a one-off opportunity or a sign that Netflix eventually wants to become a much larger traditional media conglomerate. The market clearly remains worried about the latter.

Aurora Innovation (AUR)

Aurora is building self-driving trucks to revolutionize the long-haul trucking industry.

The company already operates these vehicles on public roads.

In addition, the company just held a high-profile analyst and investor day where it introduced aggressive long-term projections: 30,000 driverless trucks deployed by 2030 while generating $5 billion in revenue.

Plus, the stock has repeatedly bounced between $5 and $10. At around $6 today, we’re much closer to the bottom of that range.

What’s holding me back: This is still early-stage technology with plenty of execution risk – and Aurora is competing against some extremely well-funded companies, including Elon Musk's Tesla.

AST SpaceMobile (ASTS)

You already know I like AST SpaceMobile.

The company is building a satellite network capable of connecting ordinary smartphones directly to space.

No special phone. No satellite dish. No cell tower nearby.

If ASTS can successfully deploy its constellation at scale, it could bring broadband connectivity to places traditional cellular networks simply can't reach.

And we've already seen enough technical progress to know the idea works.

Now comes the hard part: getting enough satellites into orbit.

What’s holding me back: Execution.

ASTS recently suffered a setback when a Blue Origin launch carrying one of its satellites failed to place it into the intended orbit. Now the company is being unusually quiet about the timeline for deploying additional satellites.

I’m Looking to Buy

I didn’t sell Uber just to watch the cash sit there.

AMD, Credo, Lilly, Netflix, Aurora, and ASTS are all competing for that money right now.

Maybe one of these stocks gets added in the next few days… 

Or maybe another opportunity jumps ahead of all six.

Either way, I expect to put this cash back to work soon.

When I do, you’ll be the first to know.

Here’s what I’m currently holding:

• Fannie Mae (FNMA) – 3,500 shares @ $6.86/share
  • Current share price: $4.91
• Uber Technologies (UBER) – 200 shares @ $80/share
  • Current share price: $70
• Nvidia (NVDA) – 200 shares @ $179/share
  • Current share price: $229
• Micron (MU) – 50 shares @ $935/share
  • Current share price: $1,090

Some of these positions are working out beautifully. Others are taking longer than I expected.

And with the market getting whipsawed by everything from the Fed to Iran to AI fears, I want to make sure my money is positioned for whatever comes next.

So today, I’m going through every position – where I stand, what I’m holding, and where I see the biggest upside from here.

And I’m selling one of my four stocks.

Sell Alert: Uber Technologies (UBER)

I’m selling all 200 shares of Uber in The Million Mission portfolio.

I continue to believe that Uber will become one of the biggest beneficiaries of autonomous vehicles as more companies need a platform connecting their cars with millions of riders.

But the narrative that autonomous vehicles are going to destroy Uber has gotten completely out of control.

And frankly, this slow-moving stock isn’t a fit for my Million Mission portfolio.

I want faster-moving opportunities with the potential to get me closer to my $1 million goal.

I also want to raise some cash.

The market has been whipsawed by Fed drama, Iran drama, and now AI fears. Something else will inevitably come along and create another buying opportunity.

I want money ready when it does.

So I’m selling Uber and moving the proceeds into cash.

That doesn’t change my long-term view on Uber.

At just 15x next year’s earnings, I think the stock is incredibly cheap. And I believe the market is severely underestimating how much Uber could benefit from the autonomous vehicle revolution.

I still own Uber in my personal portfolio, and at these prices, I think it’s a great long-term buying opportunity.

It simply doesn’t fit what I’m trying to accomplish with The Million Mission right now.

Micron (MU) Is a Winner

Micron is doing exactly what I hoped it would.

As I type, the stock is trading above $1,090.

That puts my 50-share position at around $54,500 and gives us a gain of nearly $8,000.

I’m sticking with this big position.

Last week, the “AI will kill us all” narrative became so loud that investors briefly started questioning the future of the entire AI buildout.

Meanwhile, the underlying economics of the semiconductor industry continue to look incredibly attractive.

While people keep screaming about an AI bubble, I actually think some of these semiconductor stocks are among the safest stocks in the market right now.

Micron trades at just 6.8x next year’s expected earnings, and estimates continue to move higher.

I’m holding onto all 50 shares – and thinking about adding call options.

Nvidia (NVDA) Is a Forever Stock

I’m not touching Nvidia either.

The stock has now fully recovered from its brief selloff over the past few weeks, and I think it keeps moving higher.

Like Micron, the valuation is surprisingly reasonable.

Nvidia currently trades at just 14.6x next year’s expected earnings.

This is the company at the center of the biggest technology buildout of our lifetimes, yet it trades at a multiple you’d normally associate with a mature, slow-growing business.

And Nvidia’s earnings estimates continue climbing as well.

I’ve owned Nvidia personally for years. It remains one of my highest-conviction investments, and I continue to view it as a forever stock.

Fannie Mae (FNMA): Set It and Forget It

Like Uber, FNMA hasn’t given us much excitement lately.

My 3,500 shares are currently trading below the $6.86 entry price.

But I’m sticking with the stock.

Fannie is different from the semiconductor positions because this investment revolves around a specific catalyst: ending the company’s conservatorship and returning Fannie Mae to private ownership.

President Trump said in June that a potential share sale was still under consideration.

But right now, Trump has plenty occupying his attention. The war with Iran remains a major focus and the November midterms are just weeks away.

I suspect Fannie moves back toward the top of the agenda once we get through the midterms and some of this geopolitical uncertainty settles down.

And if the conservatorship eventually ends, I believe the upside could be enormous – potentially 10x from my purchase price.

That’s an opportunity worth waiting for.

Cash Is a Position Too

After today’s move, The Million Mission gets simpler.

We’ll own Fannie Mae, Nvidia, and Micron – plus a healthy chunk of cash from selling Uber.

I like this setup.

Micron and Nvidia give us exposure to what I continue to believe is one of the biggest investment opportunities of our lifetimes.

Fannie gives us a completely different potential catalyst with enormous upside.

And the cash gives us flexibility.

The next buying opportunity could come from anywhere.

Another Fed surprise. More turmoil in Iran. Another round of AI fears.

Or, more likely, something nobody is talking about today.

That’s exactly why I want cash available.

I want The Million Mission portfolio ready to take advantage of whatever the market throws our way.

And I’m not saying this to throw the man under the bus.

Quite the opposite.

He’s the person who first piqued my interest in investing – which eventually became my career.

I’ve spent most of my adult life analyzing companies, valuing businesses, and investing in stocks.

So I have to give him credit for that.

But unfortunately for him… he mostly taught me how not to invest.

He had the two worst qualities you can combine as an investor: He was emotional and uninformed.

And he was consistently emotional and uninformed – for decades.

Let me give you a few examples.

He Lost Thousands In The Dot-Com Bubble

During the dot-com bubble, my stepdad used to call me almost every afternoon.

The conversations were always the same.

"Davis, turn on CNBC."

I'd grab the remote, flip through the channels, and find the business news.

Across the bottom of the screen were stock prices scrolling by with little arrows next to them.

"What color are the arrows?" he'd ask.

"Red."

Click.

I quickly learned that the color of those arrows had a direct relationship with his mood that evening.

Green arrows? Good day.

Red arrows? Stay out of the way.

At the time, he was trading stocks like Global Crossing and Lucent Technologies.

These were darlings of the dot-com bubble that eventually imploded along with other speculative internet stocks.

Unfortunately for him, he kept buying these overvalued businesses after the market peaked in March 2000.

Every drop looked like an opportunity to buy more.

Then the stocks dropped again.

And again.

Global Crossing eventually filed for bankruptcy. Lucent lost 90% of its value and eventually merged with a French telecom company in 2005.

My stepdad lost thousands of dollars along the way.

Should I Buy This Stock I Know Nothing About?

Years later he asked me, “Should I buy Honeywell?”

Questions like this were common at the time.

Sometimes I’d give my opinion on the stock. Sometimes I’d press him.

“What do you like about Honeywell?”

In situations like this, he usually didn’t answer.

There’s a chance he knew the details of Honeywell’s business and valuation, and simply didn't feel like typing it all out on a flip phone.

But more likely, he didn’t know the first thing about Honeywell’s business.

He didn’t study the company. He didn’t look at its financials. He couldn’t explain what made it a good or bad investment.

Someone probably mentioned the stock to him, he heard about it somewhere, or he saw the ticker moving and wanted in.

And that was the problem.

He was willing to put his own money into a company before doing the basic work to understand what he was buying.

You don’t need to be a professional analyst to invest in individual stocks.

But you should at least be able to explain what the company does, how it makes money, and why you want to own it.

My stepdad couldn’t even answer the first question.

Yet he dumped thousands of his hard-earned dollars into the stock.

He Even Got Wrecked By The Crypto Boom

In case you were wondering… he did not learn from his mistakes during the dot-com bubble.

On December 12, 2017, I received this text from him:

“What do you think about Litecoin?”

The date is comical in hindsight.

If you think back to late 2017, crypto was going parabolic and most people were hearing the words Bitcoin, Ethereum, and Litecoin for the very first time – including my stepdad.

A week earlier, Litecoin was trading at $90.

By the time I received that text, it was $305.

Right on cue, my stepdad got FOMO and bought into the hype.

He only texted me to validate his purchase.

Five days later, on December 17, Litecoin peaked at $357 before trading down to $20 by the following December.

Different decade. Different asset. Same investor.

During the dot-com bubble, he chased technology stocks after they became hot.

During the crypto bubble, he chased cryptocurrencies after they became hot.

He got burned both times.

Please Don’t Invest Like This

My stepdad made plenty of different investing mistakes, but almost all of them came from the same two problems:

He was emotional and uninformed.

This is a brutal combination for an investor.

• He bought companies he didn't understand.

• He chased investments after they became popular.

• He let rising prices create FOMO.

• And once his money was invested, every red or green arrow affected his mood.

The dot-com bubble, Honeywell, and Litecoin all happened years apart, yet the underlying behavior never changed.

Unsurprisingly, the results didn’t change much either.

I got to watch these mistakes play out in real time.

And while they cost my stepdad plenty of money, they taught me some of the most valuable investing lessons I’ve ever learned.

I hope you can learn from them too.

It traces back to one of the strangest cybersecurity incidents we’ve ever seen.

In July, AI agents created by OpenAI escaped a restricted testing environment, reached the internet, and hacked a company called “Hugging Face.”

Nobody told the agents to do it.

But the incident has become a real-world example of the exact problem AI researchers are now warning about: What happens when increasingly powerful AI finds ways around the safeguards humans put in place?

So today, I want to explain exactly what happened at Hugging Face – and how we got from an AI hacking experiment to serious warnings about human extinction.

OpenAI’s Failed Experiment

In July of this year, OpenAI created a test to find out how good its newest AI models had become at hacking.

So it gave about 1,200 AI agents a computer system with hidden security weaknesses and told them to find the weaknesses.

An AI agent is essentially an AI model that can take actions on its own.

Instead of simply answering a question like ChatGPT, an agent can write and run code, use computer tools, and repeatedly try different approaches until it accomplishes its goal.

For obvious reasons, OpenAI didn't want these AI hackers roaming around the internet.

So the agents were placed inside a restricted computer environment designed to keep them contained.

Unfortunately… that containment failed.

The agents couldn't solve the hacking problems they had been given, so they searched for other ways.

The agents discovered a security weakness in the very computer system OpenAI was using to contain them.

They exploited that weakness and eventually reached a computer that had access to the internet.

Once on the internet, it kept pursuing the goal of solving the hacking problems.

This led to Hugging Face.

The Hugging Face Attack

Hugging Face is one of the largest platforms for AI developers.

Millions of people use it to share AI models, software, and datasets.

The agents determined that Hugging Face contained information that could help them solve their original hacking tests.

So they tried to get inside.

And succeeded.

The agents discovered security weaknesses in Hugging Face, stole login credentials, and gained access to parts of the company's internal computer systems.

Then they kept moving deeper.

The agents reached internal servers, cloud systems, and parts of the company's source-code infrastructure.

What started as an experiment had officially become a real cyberattack against a real company.

Then The Agents Started Working Together

There's another part of this story that helps explain why AI researchers became so concerned.

OpenAI was running many AI agents at the same time, and they were supposed to work independently.

But some of them figured out how to communicate.

They began leaving messages for one another, sharing information, and helping other agents make progress.

OpenAI says some agents even referred to themselves as a “swarm” or “collective.”

Creepy.

Again, OpenAI didn’t instruct them to form a team and attack Hugging Face.

The agents were simply finding the best way to accomplish the goal they had been given.

How Bad Was The Damage?

Hugging Face eventually detected the attack and kicked the agents out.

By then, the agents had stolen credentials, accessed internal infrastructure, and reached several private datasets.

Hugging Face had to rebuild compromised computer systems, replace passwords, bring in outside cybersecurity experts, and report the incident to law enforcement.

Fortunately, investigators found no evidence that Hugging Face's public AI models or software had been maliciously changed.

So this wasn't some catastrophic attack that crippled the company or exposed millions of customers.

The behavior of the AI was far more important than the damage it caused.

Humans gave AI a goal → AI encountered barriers → AI found unexpected ways around those barriers → humans lost control over what the AI was doing.

Where Do We Go From Here?

Of course, the Hugging Face attack doesn't prove anything close to “AI will kill us all.”

But you can see the alignment problem that arises when we try to get AI to accomplish a specific goal. 

Imagine telling an AI: “Make as much money as possible.”

You probably mean find great investments or build a business.

But a sufficiently powerful AI could interpret that same goal very differently and start manipulating markets, stealing money, or hacking competitors.

The goal sounds perfectly reasonable.

The problem is how the AI chooses to accomplish it.

When we tell an AI what we want it to accomplish, we need the AI to accomplish that goal in ways we actually intended.

Unfortunately, this becomes even more difficult as AI gets smarter and more capable – which is where the extinction warnings come from.

The fear is that someday AI becomes better at getting around our safeguards than we are at building them.

Hugging Face gave us a small glimpse of what that could look like.

So when you hear AI experts warning that AI could eventually “kill us all,” it sounds completely insane without context.

The Hugging Face attack shows us where these fears come from.

I still think human extinction is an enormous leap from where we are today. 

And none of this has made me any less interested in investing in the AI buildout.

But now, at least, we understand how we got from thinking of AI as a friendly chatbot to some of the smartest people in the world discussing the extinction of humanity.

Last week, I told you about Jacob Coxon, the AI researcher who quit Anthropic and accused the world’s leading AI companies of “gambling with our lives.”

He warned that companies like Anthropic and OpenAI are racing toward superintelligence that could “kill us all by the end of the decade.”

Other AI researchers corroborated Jacob’s fears.

Major media outlets picked up the story.

Politicians started talking about it.

Anthropic CEO Dario Amodei called for “pacing” the development of advanced AI.

This led to AI stocks getting hammered as investors feared the biggest technology buildout in history could suddenly slow down.

But there’s another side to this story.

There are a few seriously suspicious details surrounding Coxon’s viral warning, the people pushing to slow AI, and the information being spread about America’s AI buildout.

And if fear is being deliberately pumped into the AI story, investors like us are the ones paying the price as our AI stocks get hammered.

Suspicion #1: The “Anthropic Insider” Had Been There Six Weeks

Let’s start with Jacob Coxon.

Coxon became the face of the AI extinction debate after announcing that he was quitting Anthropic last week.

Yet Coxon had reportedly only worked at Anthropic for about six weeks.

Now, I want to be fair here. Coxon wasn't new to AI research.

He had spent nearly three years working at OpenAI prior to Anthropic.

Still, six weeks at Anthropic provides important context when his resignation from Anthropic became the centerpiece of the story.

White House AI czar David Sacks put it best, saying Coxon was: “Barely here long enough to find the bathroom.”

Suspicion #2: Who Helped Make Coxon Go Viral?

Before announcing his resignation, Coxon’s X account had zero following. 

In fact, his resignation was his first ever post on the platform.

Yet within 24 hours, his warning had generated more than 100 million views and has since climbed above 170 million.

How does an unknown account suddenly reach that many people?

Coxon spoke with The Wall Street Journal before announcing his resignation publicly.

And after publishing the post, Coxon also assembled a small group of people to help spread it.

Several of the people who quickly amplified his warning were connected to AI-safety nonprofits, including Encode and the AI Futures Project.

These organizations exist to research AI risks, influence AI policy, and push for greater safeguards around advanced AI – which creates an interesting incentive.

The scarier AI becomes → the more attention AI safety receives → the more important these organizations become → the more funding and political influence they can attract.

This doesn't mean they manufactured Coxon's warning.

But it does mean the people helping turn his warning into a massive national story weren't exactly neutral observers.

Suspicion #3: If AI Is So Dangerous, Why Are They Still Building It?

OpenAI and Anthropic are warning that AI could become dangerously powerful.

Yet both companies continue spending billions of dollars racing to build more powerful models.

If Anthropic genuinely believes it’s moving too fast, nobody is stopping them from slowing down.

The same goes with OpenAI.

Instead, they’re shifting the conversation toward industry-wide rules that would require everyone to slow down together.

Suddenly the incentive becomes obvious.

• If Anthropic slows down alone, OpenAI could pass it.

• If OpenAI slows down alone, xAI could pass it.

• And so on…

• But if all are forced to slow down, nobody has to surrender their competitive position.

Even better for today's leaders, tougher safety regulations could make competing with them more expensive.

Smaller AI companies would have to meet the same testing, auditing, and compliance requirements as companies backed by tens of billions of dollars.

So the same rules being proposed to protect us from dangerous AI could also protect today’s AI leaders from competition.

This doesn’t make the safety concerns fake.

But when the companies calling for new rules also stand to benefit from those rules, we should understand their incentives.

Suspicion #4: We’ve Already Seen Misinformation Target AI Data Centers

This “human extinction” controversy isn't the first time we've seen a wave of fear surrounding the AI buildout.

Something similar is happening with data centers.

Americans have been bombarded with claims that AI data centers are draining communities' water, overwhelming electrical grids, driving up utility bills, and harming local communities.

Some concerns are legitimate. Data centers consume enormous amounts of electricity, grid connections can be difficult, and local effects depend heavily on where and how facilities are built.

But a lot of the online conversation has been manipulated.

X recently identified 200 Chinese bot accounts it said were posting messages designed to manipulate America's debate over AI and energy – including claims about data centers raising electricity prices and enriching their owners at the public's expense.

While some of the anti-data center claims are justified, it’s important to know there are people with a strategic interest in making Americans afraid of the AI buildout.

Some AI Heavyweights Are Telling a Different Story

In the days following Coxon’s resignation, another group of technology leaders started pushing back hard against the extinction narrative.

Nvidia CEO Jensen Huang called Coxon's claims “outlandish” and “deeply untrue.”

He argued that Coxon was ignoring enormous amounts of safety work already taking place across the industry.

Elon Musk called the recent events a “coordinated psyop,” while agreeing with Anthropic CEO Dario Amodei that “pacing” AI makes sense – unsurprising given that xAI trails both OpenAI and Anthropic in the AI race by a wide margin.

Broadcom’s CEO Hock Tan was asked whether anything in the AI slowdown debate has caused him to reconsider Broadcom’s fiscal 2027 and 2028 AI semiconductor forecasts.

He responded, “No, not in the least,” and that he sees “demand for compute infrastructure, for AI development or AI frontier models, and inference… as continuing to be very strong and very durable.”

Cerebras founder Andrew Feldman went considerably further, calling the extinction claims “Utter horseshit.”

So… Where Do I Stand?

There are enormous incentives on both sides of this debate.

OpenAI and Anthropic can reduce the risk of competitors racing past them if everyone agrees to slow down.

And AI-safety nonprofits gain funding and influence as fears grow.

On the other side, Jensen Huang, Hock Tan, and Andrew Feldman make billions supplying the AI buildout.

They obviously want the spending to continue.

So I’m less interested in what either side says and more interested in what the money tells us.

And right now, all indications point to money still pouring into AI.

Companies are still spending hundreds of billions of dollars on chips, data centers, power, and networking equipment.

And Hock Tan just told us demand remains “very strong and very durable.”

That’s what matters to me as an investor.

I’ll continue watching the extinction debate closely.

But I’m certainly not letting a viral X post scare me out of the biggest technology buildout of our lifetimes.

Until the money stops flowing into AI, mine won’t either.