Druckenmiller bet on Palantir early because he saw it as a direct beneficiary of the U.S. government pouring money into AI and defense to stay ahead of China, and that thesis is playing out as Washington's spending on those priorities keeps growing.
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Foreign investors keep pouring money into US markets regardless of price, the Fed under Warsh is holding rates steady specifically to support the AI investment boom, and together those forces should keep pushing tech stock prices higher, making QQQ a buy.
The thesis is that because so much global money has been structurally funneled into U.S. assets, even the average S&P 500 stock — not just the big tech names — has been bid up to historically expensive prices, making RSP a long bet on that dynamic continuing.