Editor’s Note: If you want to know which chipmaker could be the next NVIDIA, just ask Jeff Brown.
He knows more about AI chips than practically anyone on the planet — Thanks to his senior executive roles at Qualcomm, Juniper Networks, and NXP Semiconductors…
And Jeff just uncovered that one tiny chipmaker — 148 times smaller than NVIDIA — is set to provide Musk 5 billion chips in the next two years alone.
Click here for the full story or read more below.
Dear Reader,
Elon Musk just declared war on every AI company on earth.
SpaceX and xAI carried out a $1.25 trillion mega-merger…
And almost nobody understands the significance.
Musk's next move means he no longer needs data centers from Microsoft, Amazon, or Google.
And it's about to completely rewrite the rules of AI.
Make no mistake:
This isn't about competing with OpenAI on chatbots.
It's about controlling the backbone of the entire AI economy…
And when it's done, the top of the tech leaderboard could look completely different.
Today's trillion-dollar giants could be yesterday's news.
And one tiny company almost nobody has heard of could be the next NVIDIA.
Renowned tech expert and angel investor Jeff Brown has tracked it down…
A Musk supplier 148 times smaller than NVIDIA itself, set to ship him 5 billion chips over the next two years.
He explains everything in this urgent briefing.
Click here to watch it before we take it down.
Regards,
Lindsey Hough
Managing Director, Brownstone Research
Tesla Stock Surges 15% as FSD Update Backs Its Autonomy Thesis
By Sam Quirke. Article Posted: 7/2/2026.
Key Points
- Tesla shares surged nearly 15% over four sessions, pushing above $420, after the company began rolling out its long-awaited FSD v14 Lite update.
- The FSD v14 Lite update marks the first meaningful Full Self-Driving progress for roughly 4 million Hardware 3 vehicle owners in more than a year.
- Deutsche Bank and TD Cowen both reiterated Buy ratings on Tesla this week, reflecting a broader constructive shift in analyst sentiment toward the stock.
- Special Report: Forget SpaceX. Buy the company Musk can't replace.
For a stock that has spent much of the past few weeks looking heavy and technically fragile, Tesla Inc (NASDAQ: TSLA) is undergoing an impressive turnaround. Until recently, shares were struggling to shake off a run of unhelpful headlines, from the fresh NHTSA probe to broader macro uncertainty, and they were in real danger of forming a sustained downtrend.
Over the past few days, however, the tone has changed dramatically. The stock surged nearly 15% in just four sessions and pushed above $420 for the first time in almost a month.
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Claim Your Spot.The catalyst behind the move is exactly the kind of development long-term bulls have been waiting to see. Tesla has begun rolling out a long-awaited Full Self-Driving (FSD) update to some of its vehicles, marking a milestone in one of the most important and delayed parts of its long-term growth story.
It's a good time for investors to ask whether Tesla's frothy valuation, with a price-to-earnings ratio currently around 390, is finally being supported by tangible progress in one of the core technologies driving the company's trajectory.
Why the FSD Update Matters So Much
To understand why this news is resonating so strongly, it helps to revisit the backstory. Since 2019, Tesla has sold millions of vehicles with the promise that every car came with "all the hardware needed for full self-driving." Customers paid upwards of $15,000 for the FSD package based on that commitment. But since early 2025, the roughly 4 million Hardware 3 vehicles those buyers own have been effectively frozen on an older version of FSD, unable to receive the meaningful upgrades that Hardware 4 cars have been getting.
The new v14 Lite update finally begins to close that gap. It's the first real FSD progress those Hardware 3 owners have seen in more than a year, and while the system remains supervised and Level 2, meaning drivers still need their hands on the wheel, the strategic significance is much greater than the technical caveats might suggest.
For Tesla, this update is about much more than software. It's about restoring credibility to the promise the company made to customers and proving that the vertically integrated model it has spent years defending can still deliver iterative improvements on older hardware. That's a big deal for the broader autonomy narrative.
Tesla’s Autonomy Bet Is Gathering Momentum
For years, one of the most persistent criticisms of Tesla has been that its valuation implied a level of autonomy progress the actual product wasn't delivering. That criticism has had merit at various points, and it's part of why the stock has spent much of 2026 trending lower even as the wider market rallied.
What makes this week's news so important is that it directly challenges that critique. Yes, Tesla still isn't offering full unsupervised autonomy on any of its cars, and there's still a long way to go before robotaxis become a mass-market reality. But rolling out a meaningful FSD upgrade to millions of cars is a real step forward, and it begins to translate the multi-year investment in autonomy into visible product progress. That's exactly the kind of proof point that helps justify the triple-digit multiple investors have been paying.
It also reinforces the company's broader strategic picture. Amid accelerating robotaxi ambitions, ongoing Optimus development, and a potential merger with the newly public SpaceX (NASDAQ: SPCX), Tesla is beginning to build a more coherent narrative about what it wants to be over the next decade. The FSD rollout is the latest piece of that puzzle.
The Analyst Community Is Warming Up Again
Backing up the improving mood is a fresh wave of analyst commentary that's been quietly turning constructive. Deutsche Bank reiterated its Buy rating on Tesla this week, as did TD Cowen.
To be sure, none of this makes Tesla a risk-free investment. The path from here still involves navigating near-term challenges, and the stock's price-to-earnings ratio remains eye-watering by traditional measures.
But for investors who believe Tesla's long-term thesis rests on autonomy, robotics, and integration with the broader Musk ecosystem, this week has delivered the clearest proof yet that the pieces are starting to fall into place. With the price action finally matching the underlying story, this rally may be just beginning.
Gold and Silver Recovery—3 Precious Metals Stocks for H2 2026
Reported by Chris Markoch. First Published: 7/3/2026.
Key Points
- Central banks bought 474 tonnes of gold in Q1 2026, the second-highest quarterly total on record, signaling sustained institutional demand.
- Nearly 90% of central banks plan to add to gold reserves in the next 12 months, driven partly by concerns over counterparty risk following Russia's frozen dollar assets.
- Silver's structural supply deficit and industrial demand from solar panels, electric vehicles, and electronics give it a distinct price catalyst heading into the second half of 2026.
- Special Report: Forget SpaceX. Buy the company Musk can't replace.
After climbing to an all-time high of more than $5,300 per troy ounce in January 2026, the spot price of gold fell to around $4,100 on July 1, highlighted by a 10% drop in June. That marked its fourth straight monthly decline. A similar story has played out in silver.
To say that has shaken out many weak hands would be an understatement. However, that may be shortsighted. While predicting market tops or bottoms is a fool’s errand, there are a couple of catalysts suggesting gold prices may be ready to reverse course and move higher.
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Watch Porter's full breakdown of Project Prophet and Emmet's systemThe most important data point to consider is central bank buying. These are institutions with the longest time horizon, and in the first quarter of 2026, they bought 474 tonnes of gold, the second-highest quarterly amount on record.
Why Gold Is Regaining Its Role as Sound Money
The European Central Bank’s annual report on global reserve assets revealed that, as a percentage of reserves, central banks owned more gold than U.S. Treasuries or the euro at the end of 2025. For accuracy, that is due in large part to the surge in gold’s price. At 2023 prices, U.S. Treasuries would still outweigh gold.
But here’s what many investors overlook. Unlike many retail investors, nearly 90% of central banks say they plan to keep adding to their gold reserves over the next 12 months. If gold were trading above $4,000 an ounce and no country wanted it, central banks would sell. That’s not happening. In fact, central bank gold buying has been above historical norms since 2022.
The key reason for that came from the U.S. government’s decision to freeze Russia’s dollar reserves after it invaded Ukraine in 2022. That raised questions about counterparty risk for countries that may end up on the wrong side of a U.S. foreign policy decision. Since gold can’t be sanctioned or seized, its appeal becomes obvious.
Governments that could have rebalanced back into Treasuries are choosing not to. That choice reveals a clear preference. Which is why investors may want to rethink the outlook for gold in the second half of 2026.
Industrial Demand Could Fuel Silver Prices in H2 2026
Silver plays a different role than gold, and that's part of its appeal. Roughly half of annual silver demand now comes from industrial uses, including solar panels, electric vehicles, and electronics. That gives silver a growth driver gold doesn't have.
The Silver Institute has projected a structural supply deficit for several consecutive years, as mine production struggles to keep pace with demand. When investment demand returns to a market already running a deficit, price moves can happen quickly.
Investors also watch the gold-silver ratio, which measures how many ounces of silver it takes to buy one ounce of gold. That ratio has been running well above its long-term historical average, a sign some analysts point to as evidence that silver is undervalued relative to gold.
The Easiest Way to Invest in Gold: SPDR Gold Shares ETF
For investors who are only interested in capturing the price action in gold, the SPDR Gold Shares ETF (NYSEARCA: GLD) tracks the price of physical gold.
Investors will have to pay fees, with an expense ratio of around 0.40%, and there are counterparty risks to consider.
But they avoid the custody and insurance costs of owning physical metal.
Newmont Stock Offers Value If Gold Prices Rebound
Another way to invest in higher gold and silver prices is through mining stocks. Junior miners may carry the most asymmetric risk/reward for aggressive traders. But long-term investors may want to look at Newmont Corp. (NYSE: NEM), which is one of the largest miners and has a strong track record of performance.
Mining stocks like NEM are down this year in sympathy with the decline in gold. However, Newmont stock is down only around 3% through the first half of 2026. And at around 12x earnings, NEM shares trade at a discount to both their historical value and the S&P 500.
Adding to its appeal, as of July 1, the stock was trading about 44% below its consensus price target of $139.35.
Wheaton Precious Metals Offers Lower-Risk Exposure to Gold
Wheaton Precious Metals (NYSE: WPM) is a different way to invest in a rebound in gold and silver prices.
The company finances miners in exchange for the right to buy gold and silver at fixed, below-market prices for the life of the mine.
The success of that business model showed up in the company’s Q1 2026 numbers, which included record revenue of $901.5 million and earnings of $582 million.
As of July 1, WPM traded about 35% below its consensus price target of $154.73.
First Majestic Silver Is a High-Conviction Silver Stock for H2 2026
For investors who want direct exposure to silver prices without gold as a hedge, First Majestic Silver Corp. (NYSE: AG) is worth a look.
The company operates primarily in Mexico and generates the majority of its revenue from silver production, making it more sensitive to swings in the metal's price than diversified miners.
That sensitivity cuts both ways. First Majestic tends to outperform larger, diversified miners when silver rallies, but it can also underperform during pullbacks like the one seen in June.
For investors who believe the setup described above favors higher silver prices into year-end, that volatility may be the point rather than a drawback.
Why Gold and Silver Still Belong in a Diversified Portfolio
Most gold and silver investors aren’t speculators. They are looking for assets that can’t be printed, diluted, or controlled. Yes, gold and silver don’t produce a yield, prices are volatile, storage is expensive, and supply can’t expand quickly to meet demand. But in a world where many investors are looking to return to sound money, those are reasons to trust gold and silver, not dismiss them.
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