"There is, of course, the enthusiasm of having lost weight, and so there is a direct correlation with 'Let's buy a new wardrobe.'"

Josh Wolfe, Lux Capital cofounder, is known for backing companies like Anduril, Applied Intuition, Hugging Face, Impulse Space, Osmo, and Physical Intelligence.

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JPMorgan's midyear outlook argues the hyperscalers are profitable, the debt markets are holding, and the cycle has room to run.