Interesting Stocks

[Louetta]

Thanks for efforting that for us, BlueWolf. Alot of work. (We still can't figure out how to buy ARKVX through Schwab unfortunately.)

[BlueWolf]

OK, I have a few more details.

1) You are correct. ARKVX cannot be traded through Schwab. You’ll need a SoFi account and the SoFi app.

2) XOVR contains approximately 14.63% of SpaceX and does not contain either Anthropic or OpenAI. You can easily trade this.

3) AGIX contains approximately 1.75% of SpaceX, 1.3% of Anthropic, and does not contain any OpenAI. You can easily trade this.

4) PWRL is a closed-end fund. As of May13, it held about 7.7% of OpenAI and 19.37% of SpaceX. I could not find any record of how much Anthropic, if any, it holds, but the literature does claim that the fund holds a position in Anthropic. Perhaps this was added after the May 13 filing. This is a really interesting fund with some other pre-IPO AI stocks in it, but apparently the street seems to have a very negative view (too much risk?) of this fund right now because it is trading down hard. You can easily trade this.

5) DXYZ is an another closed end fund that holds a 3.2% position in OpenAI. You can easily trade this.

NOTES: If you’re only looking for small exposure, perhaps you could buy some AGIX and DXYZ to get all three. Or you could mix in more XOVR to get more exposure to the SpaceX IPO. I hope this helps.

[BlueWolf]

Thanks for efforting that for us, BlueWolf. Alot of work. (We still can't figure out how to buy ARKVX through Schwab unfortunately.)

I’m interested in getting a little exposure myself

[Louetta]

OK, I have a few more details.

1) You are correct. ARKVX cannot be traded through Schwab. You’ll need a SoFi account and the SoFi app.

2) XOVR contains approximately 14.63% of SpaceX and does not contain either Anthropic or OpenAI. You can easily trade this.

3) AGIX contains approximately 1.75% of SpaceX, 1.3% of Anthropic, and does not contain any OpenAI. You can easily trade this.

4) PWRL is a closed-end fund. As of May13, it held about 7.7% of OpenAI and 19.37% of SpaceX. I could not find any record of how much Anthropic, if any, it holds, but the literature does claim that the fund holds a position in Anthropic. Perhaps this was added after the May 13 filing. This is a really interesting fund with some other pre-IPO AI stocks in it, but apparently the street seems to have a very negative view (too much risk?) of this fund right now because it is trading down hard. You can easily trade this.

5) DXYZ is an another closed end fund that holds a 3.2% position in OpenAI. You can easily trade this.

NOTES: If you’re only looking for small exposure, perhaps you could buy some AGIX and DXYZ to get all three. Or you could mix in more XOVR to get more exposure to the SpaceX IPO. I hope this helps.

My thoughts: XOVR looks very interesting. AGIX is out, we want at least double digits. PWRL chart is scary, wouldn't feel right for a significant amount of money. DXYZ chart looked too wildassed by have not looked in a couple days, felt we missed the boat too as its well up since April.

Also Softbank SFTBY I thought is too well along at this point.

Still figure BPTRX is our best bet tho down 1% today 25%+ in SpaceX and maybe 10% in TSLA. Big bet on Musk, feel safe with Ron Baron.

Reposting as the system said first try was spam

[BlueWolf]

Boy, the more I look at the numbers, the more I’m scratching my head over the trillion dollar valuations of these companies getting ready to do their IPOs.

Take OpenAI for example. They had $20B in revenue in 2025, which is a ten fold increase over the $2B they booked in 2023. That’s pretty impressive growth, to be sure. There’s a catch, though. They also burned through $17B in cash in 2025. At that burn rate, they would run out of cash sometime in 2027 without another round of capital infusion. OK, the IPO should provide them with plenty of extra capital. Is their current economic model is sustainable, however, and can it scale into profitability? Apparently, even OpenAI seems concerned about this, which is probably why they will soon be selling ads in some editions of ChatGPT. Admittedly, Amazon was in a similar position early in its trajectory, but eventually scaled into a model that worked. Can OpenAI scale into such a model? It’s debatable because such scaling is countered by an enormous appetite for chips and power. That appetite is actually driving unit costs up, not down, so they clearly have a problem. So the question is whether or not a company generating $20B in revenue a year, burning almost the same amount of cash, and burdened with an economic model that may not scale really worth $1T. Contrast that with another $1T+ company, NVDA, whose annual revenue for the Trailing Twelve Months (TTM) is currently around $250B. The one x-factor here is that as the AI technology improves, it’s getting much more efficient. For example, a study at Wharton showed that GPT-5.2 matched human expert quality on first-pass work 72% of the time, up from just 39% for GPT-5. That means that their product is improving enough to justify charging (a lot?) more for what it offers. Can that type of scaling provide them a path to an economic model that eventually swings positive? Maybe, but it seems to depend on continued exponential growth in both revenue and product effectivity.

I won’t bother with Anthropic, which has issues similar to those facing OpenAI, but how about SpaceX. Well, first of all, SpaceX now includes both xAI and X (formerly Twitter). That’s actually a mixed bag because some of the companies in the SpaceX portfolio, notably X, are not doing to well. That leaves us with an also-not-so-great set of numbers with SpaceX generating revenue of $18.67B in 2025 with a loss of $4.94B. Well, those are better numbers than OpenAI, but so far, SpaceX has not demonstrated the same kind of wild growth that OpenAI or Anthropic have. Still, analysts are betting the farm here on Musk’s ability to disrupt and putting a lot of stock in SpaceX’s push into heavy lift space platforms, xAI, and data-center technology (in space?). I guess they are seeing enormous growth in these areas.

Anyway, I’m just thinking out loud here as I’m trying to figure out whether I will grab some pre-IPO exposure or whether I will just wait until after the IPO to grab some shares. Your thoughts are welcome.

[jiesen]

Yeah, I know, these AI giants are all way way way overvalued at $1T odd market caps. Realistically, most are worth 1/10 that, and one of them is possibly worth 10x that or more. Question is which one? To be safe, best way to play it would be buy shares 50/50 in GOOG and MSFT. One of them will likely buy out the eventual winner of the AI game. Or sure, buy all 3 big AI stocks in a fund, or on their IPO and hope you're holding the right one when it pops 10x. Weak hands will sell at 2x, though, and the risk is that all 3 will fail, and MSFT walks away with the prize anyway. So, I think putting any money in a pure AI play is not a great idea. Better would be to buy shares in an established company or two that has an AI component, some of those are GOOG, MSFT, ORCL, or AMZN. Of the 3 IPO's, only SpaceX fits with that idea (because of rockets), and the other two (OpenAI and Anthropic) are just too risky now to put good money into, imo.

And to be clear, timing is also very important here, and best would have been to buy last year, or 3 years ago, but not today. If the market corrects another 10-15% that might give us a compelling reason to scoop up some AI picks on the cheap, though.