The future won't unfold overnight. Those who foresee future trends early on have the opportunity to control the future. Download "The Big Ideas of 2026".

According to Morningstar data, four ARK ETFs were among the top five performing ETFs in 2025. During a Q4 2025 webinar, @CathieDWood explained why she believes this growth momentum could continue into 2026. Watch:

It's actually quite simple. The vast majority of SpaceX's future launches will be dedicated to artificial intelligence computing. Regardless of whether SpaceX and xAI merge, SpaceX is betting that computing resources will remain scarce and valuable even with exponential growth in global (and super-global) computing power. If computing resources remain scarce and valuable, the companies that can most effectively acquire massive amounts of computing resources will gain a significant economic advantage. SpaceX has already invested heavily in this area, and a merger with xAI would allow its shareholders to achieve right-tailed skewed returns. From xAI's perspective: The underlying model holds approximately $20 trillion in enterprise value in this business cycle. Winning this game hinges on securing exponentially growing computing resources in the long term. This computing power is crucial to meeting customers' thirst for even more computing resources and is also essential for developing the ability to meet future customer needs and unlock approximately $20 trillion in business opportunities. By partnering directly with SpaceX, xAI gained priority access to computing resources, making their availability more predictable once they begin to scale compared to relying on terrestrial data centers and needing to piece together infrastructure partners. You can think of an Infrastructure-as-a-Service (IaaS) provider's 30% profit margin as equivalent to computing financing with an annual interest rate exceeding 40%. That's incredibly expensive. By merging with a computing provider, xAI can access computing resources at a lower cost of capital. Furthermore, there's an added benefit: their respective strategies are now completely different from other companies in the market. Win-win

Identifying what truly matters is always crucial. Robinhood is rebuilding consumer finance from scratch for digitally native investors. While it appears to be a brokerage firm, it's actually a distribution engine for next-generation financial products. As traditional financial institutions gradually exit the market, Robinhood's platform model gives it a structural advantage that remains largely underestimated.

Meta has likely already generated more revenue from generative artificial intelligence (GenAI) than most companies in the world today. While we don't yet have all the necessary data to draw definitive conclusions, some disclosures from the last earnings call strongly point in this direction. First, Meta disclosed that its GenAI video generation tools have reached $10 billion in annualized revenue. This figure alone surpasses the total GenAI revenue that most companies dream of, and Meta noted that these tools are growing at almost three times the rate of overall advertising revenue. Second, Meta has seen significant revenue growth from GenAI within its core advertising system, rather than on the periphery. In one quarter, GenAI-driven ad ranking and delivery upgrades increased Facebook ad clicks by 3.5%, Instagram conversion rates by over 1%, and the new runtime model delivered another 3% increase in conversion rates. For a company the size of Meta, even small percentage increases translate into billions of dollars in revenue. Third, Meta's GenAI-enabled incremental attribution system improved conversion rates by 24% compared to standard attribution and achieved billions of dollars in annualized revenue within just seven months of its launch. For an AI product, especially one directly embedded in the advertising technology stack, such rapid monetization is rare. Fourth, Meta emphasizes that in the second half of 2025, the revenue impact of AI-driven cross-user and cross-session ad redistribution will be almost four times that of simply increasing ad volume. This indicates that GenAI has now become a major driver of improved monetization efficiency, not just an enhancement of product functionality. Finally, GenAI's improvements to recommendation features have significantly increased user engagement across Meta's various platforms. Instagram Reels saw a more than 30% increase in view time, Facebook news feed and video views increased by 7% after the recommendation feature upgrade, and Threads' dwell time increased by 20%. This growth expanded monetizable ad resources without increasing ad density. In conclusion, Meta's investment extends far beyond generative AI. It has already translated it into actual revenue through creative tools, ad ranking, attribution analysis, and recommendations.

COMEX is the world's largest silver futures trading venue and the benchmark for silver price discovery. Last Friday, COMEX traded 365,766 contracts, representing approximately $143 billion in notional value. Meanwhile, @HyperliquidX (built with HIP-3 code) saw its trading volume exceed $1 billion for the fourth consecutive trading day, reaching $3 billion last Friday, representing about 2% of COMEX silver's notional value. If decentralized exchanges (DEXs) can truly enter the commodities/RWA futures market, they will enter a much larger market. Incidentally, COMEX has existed for centuries, while the silver HIP-3 market may only be a few weeks or months old.

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🔔Media Breaking News🔔 Today at 12:30 PM ET, @CathieDWood will be a guest on @BloombergTV's ETF IQ program, discussing related topics with @EricBalchunas, @KatieGreifeld, and @scarletfu. Tune in!

OpenAI is rolling out ads on ChatGPT and expanding its price tiers, including a low-cost option that has been publicly discussed. More importantly, as discussed on "The Brainstorm," this foreshadows the future monetization models for chatbots. Watch:

Overall, while the trade-weighted dollar index (DXY) has seen some pullback, it has not collapsed. If the current administration's policies can improve the U.S. return on investment (ROIC) relative to the rest of the world, the dollar could surge as it did during the Reagan era of the early 1980s.