The State Of The Union

Coach Kyle & G.L.A. INVEST RESEARCH

STATE OF THE UNION: The Largest Innovation Boom in History

June 2026 Edition — For Serious Investors Looking To Create Generational Wealth!

“The best investors in the world aren’t worried about a bubble or a little volatility, They’re loading The Boat!”
— Coach Kyle

Welcome: A Message to G.L.A NATION

We are living through the most extraordinary period in the history of capital markets. Every week brings a headline that would have sounded like science fiction just five years ago. SpaceX just completed the largest IPO in history. Elon Musk became the world’s first trillionaire. The AI coding startup Cursor just hit $4 billion in annualized revenue. And yet, the financial media keeps asking the same tired question: “Is this a bubble?”

At G.L.A. INVEST RESEARCH, our job is to cut through the noise and deliver you the truth — the kind of truth that separates informed, long-term investors from the crowd. Today’s State of the Union is our most important edition yet. We’re going to break down the incorrect narratives being pushed by Wall Street media, show you what the world’s greatest investors and innovators actually believe, and explain why we are still in the early innings of the largest innovation boom in human history.

The Narrative Problem: Why Most Investors Are Getting This Wrong

There is no shortage of incorrect narratives circulating in the financial media right now. Pundits on television debate whether AI is a “bubble.” Bears point to valuations. Commentators question whether the infrastructure spending will ever pay off. This noise is creating fear in retail investors — and that fear is creating massive opportunity.

Let’s be direct: There is no AI bubble. Not in the way the media is framing it. A bubble implies speculation without substance. What we are witnessing today is the opposite of a bubble— we have real revenue, real adoption, and real transformation across every major industry. The global AI market is projected to hit $312 billion in 2026, up from $244 billion in 2025, representing a 27.7% annual growth rate. That is not a bubble. That is a structural shift. The global AI market was valued at $390.9 billion in 2025 and is projected to reach $3.5 trillion by 2033 — growing at a 30.6% CAGR.

Consider the ground-level numbers: 88% of businesses reported actively using AI in 2025, up from 78% the year before. Private investment in AI in the United States alone reached $109.1 billion in 2024. AI startups raised over $200 billion in venture capital in 2025 — nearly 50% of all VC funding in the entire world. These are not speculative figures. This is the global economy reorganizing itself around a new computing paradigm.

The incorrect narrative that “AI is overhyped” ignores a critical historical truth: every generational technology — electricity, the internet, mobile — looked “overpriced” during its infrastructure buildout phase. Those who called it a bubble in 1998 missed the decade-long creation of trillions in wealth that followed. History is rhyming again, and the investors who understand this are positioning accordingly.

What the World’s Best Investors & Innovators Are Saying

Don’t take our word for it. Ask the people who have the most skin in the game.

Ron Baron: “30 Trillion Could Be Low”

Ron Baron, the legendary billionaire investor and founder of Baron Capital, is not hedging. He is doubling down — literally. During SpaceX’s historic IPO, Baron Capital purchased an additional $1 billion worth of SpaceX shares, bringing the firm’s total stake in Elon Musk’s company to approximately $25 billion. Baron has approximately 33% of his flagship fund concentrated in SpaceX.

Baron has stated publicly that from his original $400 million investment in Tesla, he has made approximately $8 billion — and believes that figure could grow fivefold over the next decade as autonomous driving technology matures. When asked about SpaceX, Baron said he believes the company could be worth $10 trillion, $20 trillion, or $30 trillion over the next 10 to 15 years — and that even that estimate “could be very low”.

This is not reckless speculation. Ron Baron has delivered a 17.7% annualized return in his flagship fund since its 1996 inception, crushing the Russell 1000 Growth benchmark’s 13.1%. He is not gambling. He is making a calculated, conviction-based long-term bet on the greatest innovators of our era.

Cathie Wood: Embodied AI Is the Largest Revenue Opportunity of Our Lifetime

ARK Invest founder Cathie Wood has been one of the most consistent voices of innovation optimism — and she has been right far more often than her critics have admitted. Wood has publicly stated that “the largest revenue generating opportunity from AI, in terms of embodied AI, is going to be in transportation” — and that Tesla and robotaxis “are about to take off”.

Wood’s conviction on Tesla has not wavered. Her five-year price target for Tesla stock stands at $2,600 — nearly 10x its price at the time of her prediction — driven by her view that Tesla’s robotaxi business will account for 90% of the company’s long-term value. She also pointed to Tesla’s humanoid robotics initiatives as an upside that she had not even incorporated into her price model. Wood has also expressed strong bullish views on SpaceX, noting strong investor demand for private space ventures and confident in self-driving technology.

Jensen Huang (NVIDIA): “AI is Going Everywhere” — A Decade of Buildout Ahead

If anyone on Earth understands the trajectory of AI infrastructure, it is Jensen Huang, CEO of NVIDIA and the man who built the engine the entire AI revolution runs on. Huang has been unequivocal: the AI boom is just getting started and nowhere near its peak.

At CES 2026, Huang revealed how the next generation of AI and accelerated computing will transform every industry. Speaking to Fox Business, he stated plainly: “AI is just going to be everywhere. So we have plenty of runway, lots and lots of growth ahead of us”. He described the current period as “about a decade of buildout” that is only just beginning.

Huang’s 9 predictions for the AI decade ahead are worth understanding:

• AI as Core Infrastructure: Every company will rely on AI the way they rely on electricity today

• AI Factories: Advanced data centers will produce valuable AI outputs the way factories produce goods

• Massive Wealth Creation: Small AI research teams will drive unprecedented economic value

• Trillion-Dollar Infrastructure Boom: AI data center spending will exceed $1 trillion per year by 2028

• Rise of Agentic AI: AI agents that perceive, plan, and act will create a multi-trillion-dollar industry

• Autonomous Vehicles at Scale: A large share of global miles will soon be driven autonomously

• Physical AI for Real-World Tasks: Investment in robotics, autonomous systems, and real-world AI applications

• Job Evolution, Not Just Elimination: AI will kill tasks, not jobs — new roles will emerge faster than old ones disappear

• AI Agents Driving $1 Trillion in Chip Demand by 2027: Huang predicts AI agents will power the next wave of computing growth

These are not forward-looking marketing statements. These are the ground-truth observations of a man whose company is the backbone of the entire AI economy.

BREAKING: Elon Musk Just Made One of the Biggest Moves in Tech History

The following is one of the most important developments in the AI industry to date — and most investors are still underestimating it.

SpaceX Acquires Cursor for $60 Billion

SpaceX, fresh off the largest IPO in history — raising $75 billion and achieving a valuation of approximately $1.75 trillion — has confirmed it is acquiring Cursor, the world’s most popular AI coding assistant, for $60 billion in an all-stock deal. The deal is expected to close in Q3 2026, with Cursor becoming a wholly owned subsidiary of SpaceX.

“SpaceX just bought Cursor for $60 billion. Do you realize how big this is? SpaceX went public — the biggest IPO in history. $75 billion raised, almost a $2 trillion valuation and the first thing to do with that money? Buy the most popular AI coding tool on the planet.

Here’s why that changes everything. Elon now owns 3 layers: the compute, Colossus data centers, the models, Grok through xAI, and now the tool that developers actually use every day. It’s the full stack.

And here’s what makes Cursor different from Claude Code or Codex. Cursor is model agnostic. You can run Claude in it, GPT, Gemini, whatever model you want. It’s not locked to any one company, and now it has SpaceX’s resources behind it. Cursor said they were bottlenecked by compute. Well, that bottleneck has just been removed.

$4 billion in annual revenue, over half the Fortune 500 already uses it, and now it’s backed by a $2 trillion company. OpenAI has Codex, Anthropic has Claude Code, and now Elon has Cursor.”

Why This Is a Game-Changer: Breaking It Down

Who Is Cursor?

Cursor is not just another AI startup. It is the fastest-growing SaaS company in the history of the tech industry. Founded in 2022 by four former MIT students, it went from zero to $4 billion in annualized revenue in under four years. As of mid-2026:

• 1 million+ paying customers globally

• 50,000+ engineering teams across the world

• 64% of Fortune 500 companies already use Cursor — including NVIDIA, Uber, Adobe, Salesforce, and PwC

• $4 billion in annualized revenue achieved just before the SpaceX acquisition announcement

• 75% of its revenue now comes from enterprise clients

• The acquisition marks one of the largest startup M&A deals in 2026

What makes Cursor uniquely powerful is that it is model-agnostic — it can run on Claude from Anthropic, GPT-4 from OpenAI, Gemini from Google, or its own proprietary models. It is not locked into any single AI ecosystem, which means it sits at the center of the entire AI software development universe.

Elon Musk Now Controls the Full AI Stack

With this acquisition, Elon Musk and SpaceX have assembled something no other company in the world currently possesses — a complete, vertically integrated AI technology stack:

SpaceX had already merged xAI — Musk’s AI research venture behind Grok — earlier in 2026. Now with Cursor, the stack is complete. OpenAI has its coding tool, Codex. Anthropic has Claude Code. Now SpaceX has Cursor — and it has compute, models, AND the developer interface all under one roof.[^24]

What This Means in Plain English

For everyday users and consumers:
Faster and smarter apps, websites, and software across everything you use. When developers build with more powerful AI tools, products get built quicker, cheaper, and smarter. This directly translates to better video games, smoother streaming services, more intuitive phone apps, and improved programs across every digital experience in your life.

For developers and technology companies:
The ability to describe what they want in plain English —“build a feature that does X” — and have AI handle the heavy lifting. Cursor removes the compute bottleneck that was previously limiting how fast AI-assisted development could scale. With SpaceX’s Colossus supercomputer now powering Cursor’s model training, the ceiling on what developers can build has just been dramatically raised.

For investors:
This is a signal about the direction of value creation in the AI economy. The companies that control the full stack — infrastructure, intelligence, and interface — will capture the most value. Elon Musk just assembled that stack. This is not just a $60 billion acquisition. It is a statement about where AI is going and who intends to lead it.

The State of the Innovation Boom: By the Numbers

We are not in a bubble. We are in the early commercialization phase of the most transformational technology wave in human history. Here is the data:

Goldman Sachs Research projects that generative AI could increase global GDP by 7%, or nearly $7 trillion, over the next decade through productivity gains. (We have been saying this for 2 years)AI data center spending is expected to exceed $1 trillion per year by 2028. The hyperscalers — Google, Microsoft, Amazon, Meta, and Oracle — are expected to collectively spend half a trillion dollars on AI capex in 2026 alone.

This is not euphoria. This is infrastructure buildout. And as with every prior infrastructure buildout — rail, electricity, internet — the fortunes go to those who are invested before the buildout is complete.

The Incorrect Narratives Creating Your Opportunity

Incorrect Narrative #1: “AI spending isn’t generating returns.”
Reality: 88% of businesses are using AI, with 66% reporting productivity gains. Industries with the greatest AI exposure are experiencing 3x higher revenue per worker.

Incorrect Narrative #2: “The big gains are over.”
Reality: The AI market is expected to grow 30.6% annually through 2033. We are at the beginning of what Jensen Huang calls “about a decade of buildout”. Cursor grew from zero to $4 billion ARR in under four years — and it just got a $2 trillion company behind it.

Incorrect Narrative #3: “The best AI investments are already public.”
Reality: Some of the most significant AI companies — including the infrastructure layers Musk is assembling — are still in early public trading or recently went public. The pre-IPO window that existed with SpaceX has closed, but the post-IPO growth story is only beginning. The next generation of AI infrastructure companies are still being built today.

Incorrect Narrative #4: “AI will destroy jobs and hurt the economy.”
Reality: Jensen Huang said it best — “AI will kill tasks, not jobs.” PwC reports that workers with AI skills command a 56% wage premium. Industries most exposed to AI are seeing wages rise twice as fast. Goldman Sachs projects a nearly $7 trillion GDP increase from AI productivity. The disruption is real, but so is the creation of new wealth and opportunity.

What We’re Watching Next

The SpaceX-Cursor deal sets the stage for what promises to be an extraordinary second half of 2026. At G.L.A. INVEST RESEARCH, we will be tracking:

• SpaceX post-IPO performance and Cursor integration milestones (Q3 2026 close)

• Tesla robotaxi and FSD rollout — Cathie Wood says it’s “about to take off”

• NVIDIA’s agentic AI wave — Jensen Huang predicts $1 trillion+ in AI agent chip demand by 2027

• AI infrastructure capex cycle — Half a trillion in hyperscaler spending expected in 2026

• Emerging private market opportunities in AI coding, physical AI (robotics), and Defense Tech Like SARONIC, SHIELD, CHAOS.

Final Word from Coach Kyle 

The State of the Union is this: We are in the right place, at the right time, investing in the right themes. The media will continue to manufacture doubt. Bearish narratives will continue to spook short-term traders. Incorrect framings of “bubble” will continue to shake out weak hands.

But Ron Baron, with $25 billion in SpaceX and counting, is not scared. Cathie Wood, with Tesla at a $2,600 target, is not scared. Jensen Huang, building the physical infrastructure of the next computing era, is not scared. And the millions of developers now using AI tools like Cursor to build the next generation of applications are not scared — they’re building. “At G.L.A we are anything but scared, we are pounding the table!!! Buy Buy Buy!” – Coach K

At G.L.A. INVEST RESEARCH, we are here to make sure you don’t get scared out of the most important investment cycle of your lifetime.

G.L.A. INVEST RESEARCH is an independent research firm serving retail investors This newsletter is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always conduct your own due diligence.

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