Institutional-grade equity research on AI infrastructure, power, and the capital cycle. Synthesized from the same data pipeline that feeds the MCP endpoint.
The layer no one is paying attention to — and why the smart money is accumulating aggressively
In one month, software optimizations alone made DeepSeek V4 five times cheaper to serve on Blackwell hardware. The implications go far beyond one benchmark.
The only US-listed pure play on China's domestic semi equipment boom just washed out 23% on a market-wide distribution day. The options market is betting it snaps back.
Both sides are winning — but in different lanes. The real prize isn't the model. It's the orchestration layer that decides which model runs what.
After surging 175% in three months, COHU cratered 14% on Thursday. The business story is intact — $750M HPC pipeline, Eclipse platform wins, GaN power testing — but the stock ran far ahead of fundamentals, and systematic selling is now in control.
The business is still extraordinary. The narrative supporting the valuation is under fire.
Michael Burry shorted Micron at $1,052, added five AI infrastructure longs, and watched every short turn profitable inside 48 hours as the June jobs report missed by half.
One burns cash at 77x forward on hope; the other prints 50% net margins at 21x with the entire C-suite buying. Both ride the same AI capex wave — but the contrast couldn't be sharper.
Meta Compute triggered a violent rotation, not a structural break. Here are the charts, the interviews, and the valuation dislocations that define the opportunity set.
CoreWeave does 5x the revenue of Nebius. Both trade at roughly the same market cap. That is the whole story in one line, and once you understand why, you understand what Nebius is actually selling to Wall Street.
A plain-English decode of Micron's Q3 FY2026 print, the $22 billion in customer contracts nobody flagged first, and what it means for NVIDIA, ASML, and the equipment trio.
Uber doesn't intend to win autonomy. It intends to own the demand and operations layer autonomy plugs into. A digest of what management actually said about robotaxis across two earnings calls.
A long-dated options map of autonomous-vehicle hardware shows the market charging the most for the layer facing the biggest binary, the least for the layer that cannot lose the race, and hedging none of it.
The market buckets the neoclouds as a single AI-infrastructure theme. The tape says they are three different bets wearing one name. A cluster map of CRWV, NBIS, and the miner-pivot pack against the AI megacaps.
Four independent skeptics, one stretched valuation, and a retail crowd buying the opposite. The gap between the crowd and the careful money is the story.
Two AI labs crossed a threshold where their own products materially shorten their own development cycle. This is what offline recursive self-improvement looks like at the lab level — and what trades it implies.
A chart of cumulative frontier model releases per lab, with explicit methodology. Anthropic and OpenAI show accelerating cadence; Google, Meta, and DeepSeek don't.