About TechInvestment.com

About TechInvestment: What We See Ourselves As, and What We Do

TechInvestment.com [Bunting Pty Ltd: ABN 64 096 255 668] is a long equity investor founded 25 years ago in March 2001.

We invest in technologies and technology companies that will lead and develop the future. These include NASDAQ, NYSE and ASX listed technology companies.

Lloyd Bunting, the founder of techinvestment.com, has been involved in computer technology and other advanced technologies since 1969 at which time he was programming one of the first electronic digital computers in Australia (CDC3200).

Our Investment Portfolio

The company's portfolio was created in 2005 with investments in ✅ Apple (98%) and ✅ Google (2%). It reached AUD 35 million before the impact of Australia's and USA's governments' impacts on markets and currencies (eg via tariffs and international aggression).

Our focus is on advanced technologies, including:

• Artificial Intelligence (AI) via:
  • Google
  • Palantir,
  • Meta
• Graphics Processing Units (GPU) via:
  • 🇺🇸 Nvidia and AMD (MI455X): Nvidia's quarterly profit hit USD 43 billion on AI chip sales. Total sales for the fiscal year were USD 130 billion [ NY Times]
• Tensor Processing Units (TPU) via:
  • 🇺🇸 Google [for use with Tensor Flow applications],
  • 🇺🇸 Language Processing Units (LPU) [developed by Groq],
  • 🇺🇸 Quantum Computing via:
    • 🇺🇸 D-Wave
    • 🇺🇸 Rigetti, and
    • 🇺🇸 Amazon via AWS Braket,
• Data Centers in USA and Australia via
  • 🇦🇺 NextDC
• Energy Production for Data Centers: nuclear, coal, gas, wind, solar:
  • 🇺🇸 Constellation Energy
• 🇺🇸 Humanoid social robotics via: Tesla's Optimus Gen 3 robots, Boston Dynamics [Hyundai] and Linkerbot.
• ⏯️ Manufacturing ✅ Tesla Optimus humanoid robots. More on social robotics.

In 2025 sovereign wealth and public pension fund investors poured USD 132 billion, roughly half of their total investments for the year, into USA. Sovereign wealth funds managed USD 66 billion in AI and digitisation in 2025, according to the "Global SWF Year in Review 2025: The Ideas, Power Shifts and Structures That Defined Sovereign Capital", 30 Dec 2025.

US economic, trade, political and international issues (especially USA's military actions in the Middle East in 2026) create a great deal of uncertainty (risk) in US investment. This also increases AUD:USD currency risk - which may represent an additional cost to our AUD-denominated portfolio.

Australian Economy: Taxation

The Australian Federal Government Budget was presented to the public on 12 May 2026. It includes new taxes and increases to existing taxes, but doesn't seem to offer any benefit to the economy or families or businesses within the economy. [Changes to the Capital Gains Tax].

USA's Economy: Public Debt Exceeds GDP

United States public debt has officially surpassed the size of the entire American economy, with the debt-to-GDP ratio sitting at roughly 125%. This marks the first time the U.S. debt load has exceeded its 12-month GDP since the aftermath of World War II. The core metrics and economic implications outline a stark fiscal reality. [New York Times: 16 May 2026] [Other sources: CBO: GDP, Treasury: Debt]

Portfolio Stocks: Earnings

Apple: Q2/2026: 30 Apr 2026 News

Amazon: Q1/2026: 29 Apr 2026 Investor Relations

Constellation Energy: Q4/2025, FY/2025: 29 Apr 2026 Investor Relations

Alphabet (Google): Q1/2026: 29 Apr 2026 Investor Relations

D:Wave: Q1/2026: 12 May 2026 News 📩

Meta (Facebook): Q1/2026: 29 Apr 2026 Investor Relations

Nvidia: Q1/2026, 20 May 2026 [Reuters: 19 May 2026]

Palantir: FY 2026: ⏯️ Webcast: 5 May 2026 News

Rigetti: 👎🏿 Q4 2025, FY/2025: 4 Mar 2026 Investor Relations

Tesla: Q1/2026: 17 Apr 2026 Press Releases

📩 = Subscribed to corporate reports

Dividend Expectations

As at 22 May 2026 we expect the following dividends from those companies in our portfolio that do pay dividends during the next quarter. DPS = 0 means no dividend. [Market Chameleon]

Artificial Intelligence

"Code generation has become AI’s first breakout use case. Beyond pre-training, foundation models are now scaling along a second axis: reinforcement learning with verifiers. And while open-source continues to advance, the slowdown in frontier breakthroughs from Western labs has tempered what had previously been a rise in enterprise adoption. As a result, enterprise dollars are now consolidating around a few high performing, closed-source models, giving us a new market leader in Anthropic." [Menlo Ventures: 2025]

2025: The State of Generative AI in the Enterprise [9 Dec 2025]

By the end of 2023, OpenAI commanded 50% of the enterprise LLM market, but its early lead has eroded. Today, it captures just 25% of enterprise usage—half of what it held two years ago.

Anthropic is the new top player in enterprise AI markets with 32%, ahead of OpenAI and Google (20%), which has shown strong growth in recent months. Meta’s Llama holds 9%, while DeepSeek, despite its high-profile launch at the beginning of the year, accounts for just 1%.

Anthropic [Claude]

✅ OpenAI is planning an IPO in Q4/2026, ahead of Anthropic's. More Anthropic's floated valuation is expected to be USD 350 billion. [Wall Street Journal: 29 Jan 2026]

✅ Amazon is building an AI datacenter on 1,200 acres in Northern Indiana. It will support 500,000 AWS Trainium 3 chips. It is expected to be completed by the end of 2025 and will create 1,100 new jobs. The AWS Indiana data center under construction, is powered by Amazon's EC2 Nitro System which will support 500,000 AWS Trainium2 or ✅ NVIDIA Blackwell GPUs and is supported by a ✅ Constellation Energy power station.

✅ Amazon is planning to invest up to USD 50 billion in OpenAI [WSJ: 29 Jan 2026].

✅ Amazon is planning to raise USD 25 billion as Anthropic's valuation soars. Anthropic may go public through an IPO later in 2026 after a big capital raise. More Anthropic's floated valuation is expected to be USD 350 billion. [New York Times]

Global Election Calendar 2026

The most significant elections in 2026 (with potential impacts on economic or investment environments) are:

• 13 Sep 2026: 🇪🇺 Europe (🇸🇪 Sweden)
• Sep 2026: 🇷🇺 Russia
• 3 Nov 2026: 🇺🇸 USA Mid Term Election
• Before 19 Dec 2026: 🇳🇿 New Zealand

🌎 Portfolio Performance Issues and News

Chips

USA has cleared sales of ✅ Nvidia's H200 chip to 10 China firms [Reuters 15 May 2026]

✅ Nvidia's position as the critical provider of compute equipment doesn’t appear to be changing anytime soon, DA Davidson analysts say in a research note. Nvidia’s solutions are far more flexible and established than those of its competitors, and the company is adapting to memory shortages and planning ahead to meet demand, the analysts add. They expect another strong quarter even without any sales to China, as Nvidia is scheduled to report Q1 results after the market closes on 20 May 2026. Davidson reiterates its buy rating and raises its price target to USD300 from USD250. [WSJ 16 May 2026].

Artificial Intelligence

20 Mar 2026: "✅ Palantir's Maven artificial intelligence system will become an official program of record, Deputy Secretary of Defense Steve Feinberg said in a letter to Pentagon leaders, a move that locks in long-term use of Palantir’s weapons-targeting technology across the U.S. military. In the 9 Mar 2026 letter to senior Pentagon leaders and U.S. military commanders, Feinberg said embedding Palantir’s Maven Smart System would provide warfighters “with the latest tools necessary to detect, deter, and dominate our adversaries in all domains”. [Reuters 20 Mar 2026]

✅ Palantir's Maven will be hosted out of ✅ Amazon Web Services (AWS)’s Stockholm region. Medium

16 Jan 2026: ✅ Anthropic (Claude AI) to open an office in 🇦🇺 Australia

13 Jan 2026: ✅ Meta cuts 10% of employees in its Reality Labs (VR Metaverse) division

13 Jan 2026: ✅ Meta unveils 'Meta Compute' initiative to build AI infrastructure

10 Jan 2026: ✅ Meta signs multi-gigawatt nuclear deals to power AI

12 Jan 2026: Bloomberg: ✅ Apple and ✅ Google confirm a multi-year deal for Gemini to run AI-powered Siri later in 2026.. Barron's reports that ✅ Google is now the top AI company as ✅ Alphabet stocks rise past USD 4 trillion.

14 Apr 2025: The NATO Communications and Information Agency (NCIA) and ✅ Palantir Technologies finalized the acquisition of the Palantir Maven Smart System NATO (MSS NATO) for employment within NATO’s Allied Command Operations (ACO), marking a significant advancement in the modernization of NATO’s warfighting capabilities." [NATO Supreme Headquarters Allied Powers Europe (SHAPE): 14 Apr 2025]

26 Jun 2025: AI’s Consumer Tipping Point Has Arrived: "More than half of American adults (61%) have used AI in the past six months, and nearly one in five rely on it every day. Scaled globally, that translates to 1.7–1.8 billion people who have used AI tools, with 500–600 million engaging daily. This is no longer experimentation; it’s habit formation at an unprecedented scale." [MenloVC]

23 Jul 2025: 🇺🇸 White House AI Action Plan

13 Jan 2026: ✅ Meta pivots from Metaverse to AI devices such as RayBan Meta AI glasses.

Quantum Computing

ChatGPT comment: "The strange part isn’t that quantum computing is hard. It’s that we ever expected it to be otherwise."

Recent technological breakthroughs have deepened investor interest in the potential of quantum computing to speed up tasks ranging from drug discovery to financial modelling and cryptography.

The US Department of Commerce said on 21 May 2026 that IBM would receive USD 1 billion to set up a company (Anderon) to manufacture quantum chips, while contract chipmaker GlobalFoundries [GFS.O] will get USD 375 million to build a US factory producing components for different types of quantum machines. Other comp[anies, including ✅ D-Wave, ✅ Rigetti and Infleqtion will each get around USD 100 million. The funding comes from the CHIPS and Science Act signed by former President Joe Biden. [Reuters: 21 May 2026]

World Quantum Day: 14 April each year. The date was chosen as a reference to "4.14", the rounded first 3 digits of the Planck constant: 4.1356 67696...×10−15 eV⋅Hz−1

22 Jan 2026: 🇦🇺 Australia – 🇯🇵 Japan Quantum Computing Partnership launches on international stage. The agreement focuses on integrating quantum computing with supercomputing to accelerate scientific breakthroughs at the annual supercomputing conference in the region. Australia’s CSIRO, on behalf of the Pawsey Supercomputing Research Centre, has signed a Letter of Intent with Japan’s National Institute of Advanced Industrial Science and Technology (AIST) to strengthen scientific cooperation in quantum computing.

In 2024 ✅ IBM and PsiQuantum were awarded DARPA US2QC grants to develop a fully fault-tolerant quantum computer with logical qubits protected by quantum error correction (primarily surface-code-style schemes) for its Validation and Co-Design stage of the Underexplored Systems for Utility-Scale Quantum Computing (US2QC) program , one of two programs that make up DARPA’s larger Quantum Benchmarking Initiative (QBI). The goal of the QBI is to see if an industrially useful quantum computer can be built by 2033.

Companies selected for Stage B include:

• Atom Computing: Boulder, Colorado (scalable arrays of neutral atoms)
• Diraq: Sydney, Australia, with operations in Palo Alto, California, and Boston, Massachusetts (silicon CMOS spin qubits)
• IBM - Thomas J Watson Research Center: Yorktown Heights, New York (quantum computing with modular superconducting processors)
• Nord Quantique: Sherbrooke, Quebec, Canada (superconducting qubits with bosonic error correction)
• Photonic Inc: Vancouver, British Columbia, Canada (optically-linked silicon spin qubits)
• Quantinuum: Broomfield, Colorado (trapped-ion quantum charged coupled device (QCCD) architecture)
• Quantum Motion: London, UK (MOS-based silicon spin qubits)
• QuEra Computing: Boston, Massachusetts (neutral atom qubits)
• Silicon Quantum Computing Pty. Ltd.: Sydney, Australia (precision atom qubits in silicon)
• Xanadu: Toronto, Canada (photonic quantum computing)

US Government NIST Government Funding For 9 Quantum Companies

As at June 2026 the top quantum computer companies are: IBM, ✅ Google Quantum AI, Microsoft Corporation (Azure Quantum), ✅ D-Wave Systems, ✅ Amazon, Xanadu, ✅ Rigetti Computing, Strangeworks, Infleqtion and QuEra. They will share USD 2 billion investment funding from the US Department of Commerce [Department of Commerce Announces Letters of Intent With 9 Companies for $2 Billion to Accelerate U.S. Leadership in Quantum Computing: 21 May 2026].

In more detail:

• Atom Computing will receive $100 million in planned funding to address key technical and manufacturing challenges for neutral-atom quantum computing, including hardware development and systems integration needed to manipulate, control, and address tens of thousands of qubits, and validate their performance.

• Diraq

  will receive up to $38 million in planned funding to develop and scale quantum logic units and accelerate critical manufacturing and integration capabilities for silicon spin quantum computing technologies, including novel designs for large-scale and reliable qubit arrays.
• ✅ D-Wave will receive USD 100 million in planned funding for critical advancements in annealing and gate-model superconducting quantum computing systems, including qubit counts, error rates, and coherence through advanced dielectric material optimization, interface control, and high-density advanced packaging.
• Infleqtion will receive USD 100 million in planned funding to develop the underlying engineering systems and integration requirements for large-scale neutral-atom-based quantum computers and architectures, including high-powered optical systems, novel readout and error correction systems.
• PsiQuantum will receive USD 100 million in planned funding to address key photonic quantum computing technical challenges for matured and high-performance electro-optic materials, high-temperature single-photon detectors, and ultra-low-loss photonic packaging.
• Quantinuum will receive USD 100 million in planned funding to address critical technology and manufacturing bottlenecks for scaling of fault-tolerant trapped-ion-based quantum computers, such as low-loss integrated photonics, and reliable optical components at trapped-ion critical wavelengths.
• ✅ Rigetti will receive up to USD 100 million in planned funding to address key technical challenges to develop and scale next generation superconducting quantum computing technologies and architectures, such as miniaturizing and integrating novel readout electronics and next generation cryostat architectures.

Semiconductors

26 Mar 2026: ✅ Tesla [Austin American Statesman].

25 Jan 2026: ✅ Nvidia has begun building a Tesla Giga semiconductor chip design plant (Terafab) in Austin Texas. Elon Musk has said Tesla and SpaceX aim to build what could become the world’s largest chip manufacturing facility, potentially spanning tens of millions of square feet and supporting artificial intelligence and space-based data systems. [Austin-American Statesman 26 Mar 2026].

🔺 Site preparation for Tesla's Giga semiconductor chip design plant (Terafab) at Austin Texas

26 Jan 2026: Microsoft takes aim at ✅ Google, ✅ Amazon, and ✅ Nvidia with new Maia 200 AI chips [Yahoo Finance].

26 Jan 2026: Microsoft has announced the launch of its latest chip, the Maia 200, which the company describes as a silicon workhorse designed for scaling AI inference. The Maia 200, which follows the company’s Maia 100 released in 2023, has been technically outfitted to run powerful AI models at faster speeds and with more efficiency. Maia 200 comes equipped with over 100 billion transistors, delivering over 10 petaflops in 4-bit precision and approximately 5 petaflops of 8-bit performance — a substantial increase over its predecessor.

Inference refers to the computing process of running a model, in contrast with the compute required to train it. As AI companies mature, inference costs have become an increasingly important part of their overall operating cost, leading to renewed interest in ways to optimize the process.[TechCrunch 26 Jan 2026]

16 Jan 2026: Hardware firms hit by rising memory chip costs. [Bloomberg]

15 Jan 2026: TSMC, the world's largest contract chipmaker, posted a Q4/2025 record profit: up 35% to USD 16.01 billion [Reuters] TSMC Forecast Lifts Peers on Robust AI Demand [Bloomberg]

14 Jan 2026: Washington permits ✅ Nvidia to sell its H200 chip to China.

8 Jan 2026: US Commerce Department approves ✅ Nvidia H200 AI chip sales to China.

8 Jan 2026: China plans to approve some imports of ✅ Nvidia’s H200 chips as soon as this quarter. [Bloomberg] "This move represents a major win for Nvidia. China is the world’s largest market for semiconductors, and Chief Executive Officer Jensen Huang has said that the AI chip segment alone could generate USD 50 billion in the coming years." About the Nvidia H200 chip.

Energy

19 Mar 2026: ✅ Constellation Energy (CEG) will sell 4.4GW of PJM assets to LS Power for $5B as part of the Calpine acquisition. [Power Engineering]

✅ Constellation Energy has in recent months signed long-term power purchase agreements with Microsoft, ✅ Meta and CyrusOne, while moving to acquire Calpine and restart nuclear capacity such as Three Mile Island under supportive US federal policies.

9 Feb 2026: ✅ Constellation Energy announced that Calpine LLC, a business unit of Constellation, signed a new 380-megawatt (MW) agreement with Dallas-based CyrusOne [CONE], a leading global data center developer and operator, to connect and serve a new data center adjacent to the Freestone Energy Center, in Freestone County,Texas. The agreement provides CyrusOne with access to power, grid connectivity and site infrastructure needed to support development of the new facility, while ensuring electricity continues to flow to the regional grid and ensuring reliability for all customers and communities. Calpine has also entered into an exclusive agreement to provide power, grid connectivity and site infrastructure for Phase 2, which will be an additional 380 MW. These agreements are in addition to the 400 MW agreements announced in the second half of last year between Calpine and CyrusOne for the Thad Hill Energy Center in Bosque County, Texas. [CyrusOne]

16 Jan 2026: President Trump and the governors of several US Northeastern states agreed to push for an emergency wholesale electricity auction that would compel technology companies to effectively fund new power plants [Bloomberg].

Techinvestment.com is an investor in ✅ Constellation Energy (CEG), which has 55 gigawatts of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities. ✅ Constellation partners with Calpine LLC, America's largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. The fleet of 79 energy facilities in operation represents over 27,000 megawatts of generation capacity.

Data Centers

2 Feb 2026: More than USD 3 trillion is expected to be spent building the data centers needed for the AI boom, and much of the funding is coming from debt markets [Bloomberg].

More Tech and Related News

We are active followers of news in relation to our investments and the technologies and environments in which they operate. These include, but not limited to:

• Technology companies' announcements:
  • AAPL: Apple
  • AMZN: Meta
  • CEG: Constellation Energy
  • GOOG/L: Google (Alphabet)
  • META: Meta (Facebook)
  • NVDA: Nvidia
  • NXT: NextDC
  • PLTR: Palatir
  • QBTS: D:Wave
  • RGTI: Rigetti
  • TSLA: Tesla
• Technology news sites:
  • 365 DataCenters
• Global economic performance:
  • S&P Global PMI Data
• General news sites:
  • Australian Financial Review
  • Bloomberg
  • Investing.com
  • Reuters
  • TechCrunch
  • The Tech Capital
• Government websites, eg:
  • 🇺🇸 US Treasury
  • 🇪🇺 Eurostat
  • Australian Treasury
  • Australian Bureau of Statistics

We also use AI for research, evaluation, explanation, context and insights into technology and other related areas (eg government policies).

FX: AUD/USD

Investment in US listed companies involves investment in assets denominated in USD. The AUD/USD currency exchange rate is therefore of short and long term interest.

USD:AUD Spot Index: 26 Mar 2026

On 5 May 2026 the Reserve Bank of Australia increased its Official Cash Rate (OCR) to 4.35% [RBA 5 Apr 2026]. This where it was from 8 Nov 2023 to 11 Dec 2024. From 4 Nov 2020 to 6 Apr 2022 it was 0.10%. [RBA: History]. For Australian holders of US stocks, a low AUD:USD is preferable.

The AUD/USD is significantly affected by Australian political and economic policy, as well as policies of influential trading partners. The upcoming Australian Federal Treasurer's budget, to be released on 14 May 2026, could be expected to impact the AUD/USD FX.

At the moment, the AUD/USD exchange rate is being driven mainly by four big themes:

• Interest rate differences (RBA vs Fed)
• Commodity prices and China
• Global risk sentiment
• Relative economic growth/inflation outlooks

For the AUD the positive (+) drivers are:

1. Higher Australian interest rates / hawkish RBA driven by its focus on inflation. Higher Australian yields attract foreign capital into AUD-denominated assets.
2. Strong commodity prices. Australia is heavily exposed to: iron ore, LNG, coal, metals. Rises in these prices increase export income.
3. China stabilisation / stimulus expectations. China buys roughly one-third of Australia’s exports, especially iron ore. Any improvement in Chinese construction, industrial production and infrastructure spending stimulus policy typically supports the AUD
4. “Risk-on” global market sentiment. Markets often treat the AUD as a cyclical growth currency. The AUD tends to perform well when:
   • equities rise
   • investors feel optimistic
   • volatility falls
   • global growth expectations improve
5. Softer US dollar: Part of the recent AUD strength has actually been USD weakness rather than purely Australian strength.

For the AUD the positive drivers have included:

1. China growth concerns: This is probably the single biggest structural risk to AUD. Weak Chinese property activity or slower Chinese industrial demand reduces demand for Australian exports.
2. Global recession fears: When markets become defensive (“risk-off”):
   • investors buy USD
   • equities fall
   • commodity prices weaken

The AUD typically underperforms in those environments.

• Falling commodity prices: Iron ore weakness usually hurts the AUD quickly because Australia’s terms of trade deteriorate.
• Australian household/economic weakness: Australia remains highly leveraged through housing debt. Higher interest rates are slowing consumers and housing activity.
• If growth weakens materially, markets may expect future RBA rate cuts, which would pressure AUD.
• Geopolitical shocks: In May 2026 these include Middle East tensions, oil spikes, or broader geopolitical stress tend to create “flight to safety” flows into USD and out of AUD

Positive (+) drivers for the USD include:

1. Safe-haven demand: The USD remains the world’s primary reserve and funding currency during:
   • market stress
   • wars
   • banking fears
   • recessions
   • equity selloffs
   capital typically flows into USD assets. This is the USD’s biggest structural advantage.
2. Higher US interest rates / Fed policy: If the Federal Reserve System keeps rates elevated, global investors continue buying US Treasuries and USD assets. Higher US yields support USD demand.
3. Relative US economic resilience: The US economy has generally outperformed many developed economies, supporting international capital inflows into USD assets, given USA's:
   • stronger productivity
   • resilient labour market
   • large tech sector
   • stronger consumer spending
4. US Treasury market dominance: Global institutions still need USD liquidity for:
   • trade settlement
   • debt servicing
   • reserves
   • financial markets
   That creates persistent structural USD demand.
5. Energy/geopolitical inflation shocks. Oil spikes often support USD because:
   • global trade is largely USD-priced
   • investors seek safety
   • higher inflation can keep Fed policy tighter for longer
• Negative (–) drivers for the USD:
  1. Expectations of Fed rate cuts: If markets believe the Fed will ease policy faster than the RBA, yield differentials move against the USD.
  2. Improving global risk appetite: When investors become more optimistic globally: money flows into equities, emerging markets, commodities, and cyclical currencies like AUD. That usually weakens USD.

US fiscal deficits and debt concerns:

• Longer term, persistent US deficits and rising Treasury issuance create concerns about:
  • debt sustainability
  • inflation risks
  • future USD purchasing power

  This is more of a structural medium/long-term issue.

  4. Slowing US labour market

  If US employment softens materially, markets may price more Fed easing and weaker US growth.

  5. Falling inflation in the US

  A rapid decline in inflation would likely:

  • reduce Treasury yields
  • encourage Fed easing
  • weaken USD support

The Current Big Picture (May 2026)

Right now, the market is roughly balancing:

• AUD Bullish Forces USD Bullish Forces
• Higher Australian rates Safe-haven demand
• Stronger commodity prices Still-high US yields
• China demand optimism Geopolitical uncertainty
• Softer USD trend Strong US capital markets
• Risk-on sentiment Global slowdown fears

The biggest current swing factors are probably:

• RBA vs Fed policy divergence
• China growth
• Global risk sentiment
• Commodity prices (especially iron ore)

At present, the AUD has generally been benefiting from:

• relatively hawkish RBA expectations,
• firmer commodities,
• and a somewhat softer USD backdrop,

but it remains vulnerable if:

• China weakens,
• commodity prices fall, or
• markets move into risk-off mode.

⏯️ Kevin Warsh, a hawkish inflation fighter, has been nominated as the next Chairman of the Federal Reserve.

Potential US Political Crisis

US political uncertainty/chaos and policies (eg tariff uncertainty, alienation of allies, and US-initiated wars) also have an impact on valuation of stocks, so we're interested in the very unstable performance of US politics and politicians,
especially when the chickens come home to roost.

There are more than 316 current litigation actions involving Donald Trump and his administration as at 10 May 2026.

It is reported that USA may, in the near term, face a political crisis as Congress proposes impeachment and removal of Donald Trump as President.

• ⏯️ Warren Buffett discusses impeachment and removal of a president: 15 January 2026
• ⏯️ Video report: CBS News, 15 January 2026
• ⏯️ Video report: NBC News Special, 15 January 2026
• ⏯️ Video report: Senate Judiciary Committee, during a hearing for judicial nominees, questions nominees' reaction to political pressure in their future work as judges: 25 Mar 2026

Further weakening of the integrity of the US Government, US tax authorities will be barred forever from pursuing claims against Donald Trump, his eldest sons and the Trump Organisation under an agreement to halt the Donald Trump's USD 10 billion lawsuit against the Internal Revenue Service.

The pledge by the Department of Justice on Tuesday (19 May 2026) came a day after Trump agreed to settle his lawsuit against the IRS in exchange for the US government launching a USD 1.8 billion fund for victims of alleged “lawfare”. [AFR: 20 May 2026]