We remained bullish on neoclouds despite the fierce battle between the bears and the bulls in 2026. Our pragmatic approach to investing also helped us navigate the intense volatile swings seen over the last 60 days, leading to consistent ~30% YTD returns 💪, outperforming the 19% returns for QQQ and 26% for AIQ.
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Let’s Set The Stage
Every neocloud seems to be following in the footsteps of Elon Musk’s SpaceX these days.
Back in May, Musk’s SpaceX made news when it rented its excess capacity to Anthropic in a 3-year deal worth $45B. The news made the rounds, not because of the deal itself but the hurried manner in which Anthropic struck the deal. And the leading frontier lab is continuing to do so.
The economics of the rushed type of deals that Anthropic has been making for its compute requirements signals a large vacuum that compute suppliers like SpaceX need to fill. And the neoclouds are standing up to take notice of this demand vacuum.
Over the past two days, CoreWeave and Nebius dropped their strongest hints at following in SpaceX’s footsteps and going after this new niche market, and the results so far are very impressive.
In this post we outline the following:
1️⃣ Q2 ER & Management Analysis: Deep dive into Nebius and CoreWeave’s Q2 earnings reports, connecting financial results directly to leadership commentary, to identify the stronger neocloud stock poised for upside.
2️⃣ Price Levels: Identifying critical support and resistance price levels for targeted neocloud equities. (We definitely believe one of these neocloud stocks is going higher.)
3️⃣ Portfolio Positioning: How we plan to strategically adjust our existing neocloud allocation in the TPO Portfolio and execute on our forward investment plans
📌On a YTD basis, The TPO Portfolio has delivered returns of ~30% 💪, compared to 19% for QQQ QQQ 0.43%↑ and 26.4% for AIQ 0.80%↑. Our portfolio remained exceptionally resilient during July, declining just (3.5)% compared to (8)% and (14)% for QQQ and AIQ, respectively.
You can track our entire portfolio and all our live trades in the AI Stock Tracker 2.0 tool using the link below. 👇
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