Good morning, investors. Timing is a funny thing.

This week marks the two-year anniversary since launching Opening Bell Daily. Many of you have been here since the first edition of this newsletter. I hope you’ve had as much fun as I have.

Today’s column is different than the last 500.

I have some breaking news for you separate from our usual coverage.

Wall Street can’t stop talking about AI but their conversation leaves out the most important participant.

Every major bank, earnings call and analyst estimate over the last year has focused on what artificial intelligence does for corporations and efficiencies. Nobody is asking what it does for the independent investor.

Two in three S&P 500 companies cited AI on their most recent earnings calls, more than triple the average rate of the last decade, according to FactSet.

In his annual letter released this week, Jamie Dimon said AI will be used in “virtually every job.” 

JPMorgan has backed that claim with a $19.8 billion technology budget for 2026, and the firm has built an internal AI agent called “Ask David” for its wealth advisors.

Goldman Sachs in February embedded engineers from Anthropic to build internal AI agents to handle accounting and client onboarding.

A full deployment of AI could eventually generate about $920 billion in net annual economic benefits for S&P 500 companies, according to estimates from Morgan Stanley. 

But all that is built for the largest banks and corporations in the world. 

None of that is made for the independent investor. 

I’m excited to share that I’m joining ProCap Financial as chief market strategist to build out our new research division, ProCap Insights.

We will use AI agents to produce investment research for independent investors who want to make money.

Nothing will change for you as a reader. I’ll continue to write this newsletter and host my show, Full Signal, as always.

Dimon is right that AI is coming for every job in finance.

My bet is that the investors who embrace it earliest will be rewarded for it.

You can learn more about what I’m working on here.

📈 The S&P 500 erased a 1.5% intraday loss to close green for a fourth straight session. Iran rejected a US plan for a 45-day ceasefire and returned with its own 10-point response, though odds of a ceasefire remain up in the air. (WSJ)

🛢 Oil whipsawed on President Trump's ultimatum for Iran to reopen the Strait of Hormuz by Tuesday. Crude prices swung wildly as he backed away from seizing Iran’s oil: “The American people would like to see us come home.” (Yahoo Finance)

📈 Samsung stock jumped after smashing earnings expectations. Demand is through the roof, according to the company, and quarterly profits hit an all-time high with Samsung regaining ground on the high-bandwidth memory race. (CNBC)

📊 Strategy bought 4,871 bitcoin for $330 million despite a $14.5 billion unrealized Q1 loss. The company now holds 766,970 bitcoins and is accelerating purchases toward a goal of 1 million coins by year-end. (Investing.com)

🗓 April 7, 1933: The Cullen-Harrison Act took effect and Americans legally bought beer for the first time since Prohibition. Consumers drank 1.5 million barrels on day one, generating $7.5 million in Depression-era tax revenue for the federal government.

📩 Want to get in front of 207,000+ investors who get this newsletter and the 350,000 professionals who can access it on Bloomberg Terminals? Reply to this email and tell us why we should work together.