1. Bank of America sees US stock market's global dominance fading.

Equity markets including Brazil, Germany, France, the UK, China and Canada have all yielded higher returns than Wall Street’s S&P 500 year to date.

“The so-called Magnificent Seven technology firms fail to provide the impetus they have done for so long.”

They recommend being long Chinese equities as they’re not expecting an escalation of the trade-and-technology war with the US.

However, they warned investors may take profits on European shares following the German election in a few weeks’ time, and if peace talks between Russia and Ukraine begin this month or next.

Below: The German DAX vs CAC40 vs Eurostoxx600 vs S&P

2. There’s stepping on the gas, and then there’s flooring it.

When it comes to investing in artificial intelligence, Amazon will spend more than 100 billion USD in 2025.

“Lower costs will make AI more affordable and grow the demand for our cloud computing services.

We think virtually every application that we know of today is going to be reinvented with AI inside of it,” Amazon Chief Executive Andy Jassy said on the earnings call.”

Source: WSJ

3. 2025 is the start of mass production of humanoids.

Key players, including Tesla, 1X, Agility, and UBTECH, have announced plans to produce thousands of humanoids in 2025, with other players targeting commercial operations as well.

3 Catalysts will be key for humanoid stocks:

• strong government support (Shanghai's plan to develop multi-modal/spatial models for embodied AI starting from January)

• major corporate/humanoid model updates (recently, Tesla and Figure's bluesky target, Tesla hiring for humanoid production, Unitree and Deeprobotics showcased progress on quadruped robots)

• advancement in major technologies such as Deepseek.

Below: As the selling price goes down to an estimated USD 60.000, exponential growth is coming.

4. Robotaxis will lower the cost of point-to-point transportation.

With scale and increased utilization, autonomous technology is likely to drive the cost per mile below that of personal vehicle travel.

Also, at $0.25 cents per mile, autonomous transportation could serve a much larger population than human-driven taxis do today.

Robotaxis Could Generate between 10 and 30 Trillion USD in enterprise value By 2030.

Source: Ark Investment

5. Smart money buying Uber.

Uber closed up over 6% after Bill Ackman revealed he has been accumulating a $2 billion+ position since January, making his hedge fund the 12th largest shareholder.

6. The acceleration in neural networks (AI) is accelerating every other disruptive technology.

Among disruptive technologies, Neural Networks are the most important catalyst.

According to ARK Investments, “advances in neural networks will increase the value of the other technologies by at least an order of magnitude, creating massive market expansions for Next Gen Cloud, Intelligent Devices, Autonomous Mobility, Humanoid Robots, Precision Medicine, and Multiomic Technology.

The AI-led revolution in technology is likely to lead to dramatic productivity gains and a stepfunction increase in economic growth.”

Source: ARK Investments

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