Meta’s Muse launch, Josh is wrong on Netflix, internals weaken, 10-year bonds at 5%, Buffett steps away

Meta's Muse launch reshuffled the AI trade toward on-device chipmakers while breadth stays historically thin near market highs.

• Meta's Muse mania: Meta added roughly $450B in market cap in three weeks (stock $578$740+) after launching agentic AI app Muse on Sept 8, hitting 902,000 downloads in six days and #1 on both app stores.
• Chip trade reshuffles: Muse's CPU/on-device inference architecture (not GPU-heavy) sparked rallies in ARM Holdings (+17%), Qualcomm (+9%) and AMD, which crossed a $1 trillion market cap, nearly double Intel's $615B.

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