Churchill Capital Corp XI's target looks like a third-tier player that venture investors are trying to unload on retail. Eric The Umpire says its artificial floor will fall next Wednesday and warns holders to be prepared for an immediate 25% drop, though a rebound is possible. x.com 

Churchill Capital Corp XI buyers are paying a 60%+ premium for Agility Robotics financials they have never seen. Agility disclosed no revenue, burned about $100M last year, and runs Digit at $10-12 an hour versus the $2-3 its model needs; its $300M order book is not revenue. At about $16, the SPAC implies about $5.4B versus the $2.5B deal. Agility's 65,000+ commercial hours, customers like Amazon and Foxconn-led PIPE are real, but most de-SPACs trade below $10. The coming S-4 decides it. x.com 

Churchill Capital XI's Agility Robotics sells robotic labor as a subscription, making it a landlord of warehouse shifts. Digit rents for about $8,500 a month, and management's illustrative math puts five-year revenue per robot near $500,000 rented versus $400,000 sold. About 100 Digits work at nine sites for Amazon, GXO, Schaeffler, Toyota and Mercado Libre, and RoboFab can build up to 10,000 a year. The $2.5B merger targets a Q4 2026 close; rich competition and heavy cash burn are the risks. … Show more

Twenty One Capital has announced nothing of substance, so there is no reason to put money into it. x.com 

Agility Robotics' SPAC merger with Churchill Capital Corp XI is not the retail-access win it is sold as, because the venture returns are already gone. Amazon, SoftBank and Foxconn aren't new backers; they are rolling existing equity under a 180-day lockup. The $200M minimum cash condition signals that sponsors expect heavy redemptions rather than offering a safeguard. Public investors get the leftover risk without the leftover upside. x.com  x.com 

Churchill Capital Corp XI's $2.5B merger with Agility Robotics brings humanoids with deployed proof. Agility has 65,000+ operating hours across 9 live sites, its Digit moved over 100,000 totes at a GXO facility in the first commercial humanoid deployment, and it holds $300M+ in multi-year orders with 30+ customers in the pipeline. Holders roll 100% of equity, Foxconn leads a $200M PIPE at $10, and Nvidia works with it on safety. The $2.5B pre-money looks conservative versus private comps. x.com 

Kodiak AI is one of the money-losing SPAC mergers that should have stayed private longer, lacking a clear near-term path to profitability or enough cash to get there. Coming public via SPAC is not itself the problem: Vertiv is up 2,000% since its merger closed, but for every such success there are about 20 money-losers. x.com 

Boxabl is headed the way of 99% of SPAC targets: founders believe their company is the outlier but have no natural buyer, then reverse split a few times and delist. @GalianoTiramani counters that Boxabl has 70,000 investors and millions of social followers, but anyone can raise from retail with Facebook ads and Reg A offerings, and Jet.AI's SPAC team made the same argument. x.com  x.com 

Unitree's 620% IPO debut gives humanoid robots their first public valuation benchmark, and Churchill Capital Corp XI, merging with Agility Robotics at a $2.5 billion pre-money valuation, offers the American equivalent at a fraction of it. Agility would be the only US-listed pure-play humanoid firm, with Digit deployed at Amazon, GXO, Toyota and Schaeffler and over $300 million in binding orders. Doubts remain: CCXI fell after the debut, and @amitisinvesting asks why Agility needs a hyped SPAC. … Show more

Xanadu's stock was a textbook trap that has now sprung, falling about 60% premarket as insiders exit. An S-1 registered about 294M shares for resale by existing holders, which brings the company nothing and floods the float of a startup with $4.6M in annual revenue. A multi-billion-dollar valuation was unsustainable, and as a post-SPAC name its hype premium evaporated once lockups and conversions hit. Brilliant technology doesn't make a safe stock when insiders rush for the exits. x.com