Post

WhiteLine Daily, consolidating the Wu Shuo team's insights, provides readers with the most valuable information and analysis of the day, capturing the trend changes in the AI era. One-sentence conclusion: The Situational Awareness portfolio has recently rebounded, indicating that the crowded AI infrastructure trades are beginning to recover, but this does not mean that forced liquidations have ended. What truly deserves renewed observation is whether orders, profit margins, and customer commitments have improved in sync after the stock price decline. 1. The SA portfolio can only serve as a sentiment thermometer Situational Awareness LP, founded by former OpenAI researcher Leopold Aschenbrenner, focuses its portfolio on power, data centers, compute leasing, storage, and chip manufacturing. However, the latest 13F only reflects U.S. stock positions as of March 31 and does not mean the fund still holds these stocks currently, nor does it show leverage, hedging, or intraday trading. As of that period end, public holdings no longer list LITE and COHR. Therefore, this group of stocks can be used to observe AI infrastructure risk appetite but cannot be directly used as a real-time buy list, nor can a stock price rebound alone be used to judge that "forced liquidations have ended." A more valuable question is: after valuation compression, which companies' fundamentals have verifiable changes? 2. What have the five companies respectively received? AMKR: Earnings beat expectations, but guidance remains mixed U.S. semiconductor packaging and testing company Amkor Technology reported Q2 revenue of $1.9 billion, up 26% year-over-year; earnings per share were $0.70, and gross margin rose from 12% last year to 16.8%. The company also has a strategic partnership with NVIDIA involving approximately $1.5 billion in advanced