The little-known fund in AI's power path

MARKET SIGNAL REPORT
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MON OCT 26 RECAP · OFFICIAL CLOSE · SPY +0.71% QQQ +1.11% DIA +0.31% IWM +0.45%

TOGETHER WITH THE OXFORD CLUB · (Ad)
AI doesn't run on chatbots. It runs on power and data centers.
Alexander Green is focused on one little-known fund in that path.
He calls it the ASI Fund and sees it sitting in the path of the AI infrastructure buildout. His briefing explains the thesis and how regular investors can get in for around $15 through an ordinary brokerage account.

Watch Alex's Briefing

KEY TAKES

Anthropic's IPO filing ended a two-day slide: Nasdaq +0.8% to 26,169.38, S&P 500 +0.7% to 7,676.77. The filing showed $8.95B spent on compute and infrastructure in the first six months of 2026, more than all of 2025 ($7.33B). Size and price range are not set.
Chipmakers got the bid: SOXX +2.85%, NXPI +4.64%, MU +2.98%, AMD +2.80%, NVDA +2.39%. Big spenders lagged: META −1.88% (it and SpaceX are seeking about $135B in AI financing), GOOGL −1.06%.
Elon Musk is backing a fast-growing AI startup that just filed paperwork to go public (From Brownstone Research)

THE CLOSE

SPY closed 765.37 (+0.71%), QQQ 712.20 (+1.11%), DIA 522.97 (+0.31%) and IWM 276.99 (+0.45%). Tech led and communication services lagged. MSFT rose 1.54% ahead of Wednesday's report, and TSLA added 5.21%. Deals did the rest: SGRY +47.6% to $23.25, just under the $23.50 cash offer, and RRC +17.7% on EQT's all-stock deal (EQT −1.4%). The 10-year sat at 4.99% and WTI slipped 1.6% to $101.61.

Did the 3 PM read hold? So far, yes. The call was money to AI suppliers, not spenders. SOXX kept most of its gain, closing +2.85% versus +3.75% at the 1:25 PM read, and Meta finished −1.88%.

AFTER THE BELL

CDNS up 2% after a Q3 beat, FY26 EPS view raised to $8.37-$8.43 (consensus about $8.14).

RMBS down 6% at $85.25 despite an EPS beat.

AMKR slipped: Q3 EPS 76c missed 78c, Q4 guide 65c-75c came in under 78c.

TOMORROW'S SETUP

Tuesday, Oct. 27.

Before the open. KO, UPS, BA, PYPL and SOFI report.

8:30 AM ET. September durable goods orders.

10:00 AM ET. October consumer confidence (forecast 80.5, prior 81.9).

1:00 PM ET. $70B 5-year auction.

After the close. V, STX, NXPI, HOOD and EQT report.

Fed. Two-day meeting starts. Decision Wednesday, 2:00 PM ET (CME FedWatch 90% hold).

ONE TO WATCH TOMORROW

NXPI (NXP Semiconductors) closed $245.83 (+4.64%). Reports Tuesday after the close, call 4:30 PM ET. Consensus EPS $3.78 vs $2.75 a year ago. The tell: first chip report after the rally and Amkor's miss. Wrong if NXPI guides Q4 below consensus and trades under $245.83 Wednesday morning.

SHH. THIS IS A CLUB.

You get the recap because you open and click. Go quiet and your chair goes to someone who reads. See you tomorrow morning.

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Signal over noise. Evening recap of Monday's official close. Next session is Tuesday, Oct. 27.

The little-known fund in AI's power path

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