TL20 up 68% YTD vs Nasdaq's 15% as AI bubble fears give way to compute-leasing fervor
TiernanRayTech · x · 2026-10-01
The Technology Letter's TL20 portfolio gained 8% in September, snapping an early-month losing streak, and is up 68% year-to-date versus 15% for the Nasdaq and 12% for the S&P 500. The author says 'animal spirits' are back, with AI bubble worries yielding to enthusiasm for rising AI compute-leasing estimates at SpaceX and others. Linked coverage: SpaceX's Starship Launch 14 reached orbit, but analysts' forecasts hinge on its AI compute buildout timeline; Nvidia's Jensen Huang answered AI fears with 'buy more chips' after a massive buyback expansion.
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