Kim Kahn

Monday.com is tumbling after fiscal Q4 revenue outlook came in below estimates.

Pagaya Technologies' stock is surging as the AI infrastructure provider for the financial ecosystem raised its full-year adjusted EBITDA guidance after boasting 91% year-over-year growth in Q3.

And Papa John's is active on a report that Triartisan Capital, which recently agreed to buy Denny's, is close to buying the pizza chain.

But a source told Seeking Alpha that the report is not true and shares are off their earlier highs.

In other news of note, Tesla CEO Elon Musk has a new idea to make your car work for you.

At the annual meeting, Musk floated a plan to pay customers $100 to $200 a month if they let the company use their parked vehicles for AI workloads when they're not driving.

Morgan Stanley analyst Adam Jonas did the math.

He points out that there are more than 300 million light vehicles on U.S.

roads and about 1.2 billion worldwide.

If every one of them had the power of a single NVIDIA Blackwell GPU, that's about 9,000 trillion operations per second.

The numbers get staggering fast.

300 million Blackwells in the U.S., 1.2 globally, and potentially 2 billion within 15 years.

And that's before you add what Jonas calls the rest of the fleet.

Humanoid robots, electric vertical takeoff and landing carriers, drones, construction and manufacturing bots, and even surgical robots.

He says it's not a stretch to imagine a world with tens of billions of Blackwell-class computers at the edge, each one humming away with its own cooling system, data centers, and AI jobs to do.

And in the Wall Street Research Corner, investors should consider shorting bonds of hyperscalers, but hold off on major shorts of the broader AI trade, according to B of A. Strategist Michael Hartnett said hyperscaler cash flow is no longer sufficient for Amazon, Alphabet, Meta, Microsoft, and Oracle to sustain the ongoing AI CapEx arms race.

He pointed out that more than $120 billion in bonds have been issued over the past seven weeks, and that even the AI kings are hinting at the need for a government backstop to help lower funding costs.

Hyperscaler credit spreads have widened from 50 basis points in September towards 80 basis points, suggesting the lows are in.

Hartnett also added that U.S.

tech bond prices fell 8% in the 12 months leading up to the March 2000 bubble peak.