Editor's Note: Former tech executive Jeff Brown picked Bitcoin, Tesla and Nvidia before they jumped as high as 52,400%, 2,150%, and 36,000%. Now he's recommending an Elon Musk supplier that he believes is perfectly positioned to cash in on a new AI breakthrough Elon Musk called "an infinite money glitch." Click here for the details or read more below.

Dear Reader,

Remember when Steve Jobs launched the iPhone…

And all of a sudden everyone felt like they HAD to have one?

I believe history is about to repeat itself with this new Elon Musk product.

Imagine if you could go back and invest in Apple before it launched the iPhone.

That's the opportunity in front of you.

But there's one big difference…

Elon is predicting this will be much, much bigger than the iPhone.

In fact, he called it "the greatest tech invention in history."

No wonder he quietly filed this patent with the U.S. Patent and Trademark Office to protect what I believe will be his next AI breakthrough.

Look, scientists have been trying to develop something like this for almost 50 years.

Nobody was ever able to do it…

Until now.

Elon Musk did it…

And it's going to be a game changer.

Click here now to get the details and I'll discuss the stock you need to buy now… BEFORE the big launch. (No, it's not Tesla or SpaceX.)

We have so much to look forward to,

Jeff Brown
Founder & CEO, Brownstone Research

P.S. By the way, when you click here…

I'll also give you the name and ticker symbol of a company that has been called "the next Nvidia…"

Completely free of charge.

Wall Street bought AI again Wednesday. The Nasdaq jumped 1.05%. The S&P 500 gained 0.58%. The Dow climbed 360 points. SpaceX surged 7.8%. Super Micro jumped 9.6%. Chip stocks gained 2%. Dell rose 5.3%. Hewlett Packard Enterprise gained 3.7%. After the brutal AI selloff earlier this month, investors finally got something they wanted.

Proof that demand is still strong. But the rally was selective. Netflix fell 5.3%. AT&T dropped 6.5%. T-Mobile lost 2.5%. Wednesday did not erase the AI correction. It showed which parts of the trade investors are willing to buy again.

Wednesday, October 21

Wednesday came down to earnings. For weeks, investors had been asking whether the AI boom could justify its price. SpaceX and Super Micro gave them a better answer. Both showed that demand for computing, infrastructure and AI capacity remains strong.

That brought buyers back into chips. Servers. Data-center hardware. And other stocks that had been crushed during the recent selloff. The market did not suddenly forget about debt. It got evidence that the revenue side of the AI equation is still growing. That was enough for a rebound.

SpaceX was the biggest story. Shares surged 7.8% after the company reported its first profit as a public company. Revenue reached about $14.6 billion for the quarter. AI-related operations contributed more than half of that revenue. That matters.

SpaceX is no longer only a rockets and satellite story. AI infrastructure is becoming a major part of the business. That gives investors another way to price the company. And it helps explain why Wednesday's rally spread beyond SpaceX itself.

Elon Musk also said special committees are examining a possible combination of Tesla and SpaceX. That could create a company worth roughly $3.5 trillion at current valuations. Nothing is final. There are major regulatory and structural hurdles. 

But investors immediately saw the potential. Tesla brings vehicles. Robotics. Autonomy. Energy storage. SpaceX brings satellites. Launch systems. Connectivity. And growing AI infrastructure. A combination would put an enormous amount of Musk's technology ecosystem inside one company. Tesla gained during the regular session. The market clearly took the idea seriously.

Super Micro Computer jumped 9.6%. The company projected stronger-than-expected results. That helped calm one of the biggest fears from the recent AI selloff. Demand. Super Micro sits directly inside the data-center buildout.

If orders remain strong there, it suggests companies are still spending heavily on AI infrastructure. That helped Dell. It helped Hewlett Packard Enterprise. It helped semiconductors. And it helped the Nasdaq.

The Philadelphia Semiconductor Index gained 2%. That is important after the group's recent collapse. Chips had fallen for 8 straight sessions earlier this month. The index lost nearly 16% from its peak. Wednesday's rebound showed buyers are returning. But they are demanding proof.

The old trade was simple. AI spending goes up. Buy everything tied to AI. The new trade is harder. Investors want revenue. Margins. Cash flow. And visible demand. Companies that can show those things are getting rewarded again.

Not every earnings report worked. Netflix dropped 5.3%. The company reported higher profit. Revenue still grew. But investors focused on slower growth and weaker advertising expectations. 

That is another sign of how demanding this market has become. A company can make more money. It can beat on profit. And its stock can still fall. Why? Because Wall Street is looking forward. The question is not what a company earned yesterday. It is how fast it can grow tomorrow.

AT&T fell 6.5%. T-Mobile dropped 2.5%. The pressure was again tied partly to SpaceX. Starlink is becoming a more credible competitor to traditional mobile networks. That does not mean satellites are about to replace cell towers.

But the competitive threat is becoming harder to ignore. SpaceX's strong results gave investors another reason to take that risk seriously. The same earnings report that lifted AI stocks hurt telecom.

The Nasdaq gained 1.05%. The S&P 500 rose 0.58%. The Dow gained 0.69%. That is different from last week's market. Then, the Dow held up while technology broke. Wednesday, technology led. That matters. The market needed AI leadership to stabilize after the semiconductor correction. It got it. The question now is whether the rebound can survive the next round of earnings.

Treasury yields eased Wednesday. That gave growth stocks another tailwind. Lower yields reduce the pressure on companies whose profits sit further in the future. They also lower financing costs for capital-heavy businesses. That matters especially for AI. Data centers need debt. Power infrastructure needs financing. Servers need capital. Every move lower in long-term yields improves that math. But borrowing costs remain high. The financing debate is not over.

Brent settled at $108.82. WTI fell to $97.15. Oil remains close to the center of the inflation story. Brent is still near $110. But Wednesday's session was calmer. Reports of possible Russia-Ukraine peace talks helped offset continuing Middle East supply risk. U.S. crude inventories also fell by about 3.06 million barrels. That was a larger draw than expected. Oil did not give the market much relief. It also did not deliver another shock. For tech investors, that was enough.

Gold gained roughly 0.3% to about $4,138 an ounce. Treasury yields eased. That reduced some of the opportunity cost of holding gold. Geopolitical uncertainty also remained high. But gold is no longer the main market story. AI earnings took control Wednesday.

Away from stocks, housing remains a warning. High mortgage rates continue to hurt construction and demand. Single-family housing starts fell sharply in September. Permits for future construction also weakened. Mortgage rates remain around 7.5%. That is a very different economy from what the stock indexes alone suggest. AI spending is booming. Large technology companies are still growing. But housing is being squeezed by expensive money. Both can be true.

Wednesday left markets with a short list of hard numbers:

Wednesday gave the AI trade something it badly needed. Proof. SpaceX delivered its first public profit. Super Micro showed strong demand. Chips jumped 2%. The Nasdaq gained 278 points. But weaker companies were still punished. Netflix fell. Telecom fell. The market is no longer rewarding every growth story equally. That is the change. AI is back. But Wall Street now wants earnings before it pays the old prices.