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Deep research on the technologies reshaping the world, and the companies behind them. Written for technologists and investors making sense of the biggest industrial shift in a generation. AI infrastructure, chips, memory, energy, networking, robotics, quantum, and space.

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Bending Spoons (BSP): Digital Roll-Up Goes Public at $29/Share on Nasdaq
IPO Analysis BSP Jul 2, 2026

Bending Spoons (BSP): Digital Roll-Up Goes Public at $29/Share on Nasdaq

The Milan-based acquirer of AOL, Vimeo, Evernote, and 50+ other digital businesses priced above range on July 1, 2026, surged 40% on debut, and now trades at roughly 16x trailing …

Earnings Analysis MU Jun 26, 2026

Micron Q3 FY2026 Earnings: HBM Drives a 346% Revenue Surge and a $50B Q4 Outlook

Micron's fiscal Q3 produced $41.46B in revenue and 84.9% non-GAAP gross margins, both records, blowing past management's own $33.5B guidance by 24% and setting up a Q4 guide of $5…

NVDA AMD
Earnings Intelligence Jun 14, 2026

NVDA vs. AMD: Q1 2026 Earnings Comparison

NVIDIA data center hit $75B (+92% YoY) while AMD data center hit $5.8B (+57% YoY), a 12.9x gap. Both companies target the same H2 2026 next-gen GPU production window, but with sha…

NVDAAMD
Earnings Analysis ORCL Jun 12, 2026

Oracle Q4 FY2026: The $638 Billion Backlog That Markets Still Don't Believe

Oracle posted record Q4 revenue and a decisive non-GAAP EPS beat, then watched its stock fall 10% — the gap between $638 billion in contracted backlog and near-term gross margin c…

CRWV NBIS IREN
Earnings Intelligence Jun 8, 2026

Neoclouds Q1 2026: How CRWV, NBIS, and IREN Are Racing to 12 Gigawatts

All three AI cloud providers report zero idle capacity and rising prices. The binding constraint is no longer customer demand but the physical speed of building and commissioning …

CRWVNBISIREN
MSFT GOOGL META AMZN
Earnings Intelligence Jun 8, 2026

Hyperscaler AI CapEx: $620B and Still Climbing

Five of the world's largest technology companies reported in the same week of April 2026, collectively disclosing or guiding toward more than $620 billion in 2026 capital expendit…

MSFTGOOGLMETAAMZN
Company Spotlight FLNC Jun 1, 2026

Fluence Energy: Grid-Scale Storage at the Intersection of AI Infrastructure and the Energy Transition

A global battery storage integrator backed by Siemens and AES, Fluence is navigating a demand surge from AI data centers while executing a 50% revenue ramp and its first full year…

MU SNDK XOM CVX
Institutional Intelligence May 30, 2026

Q1 2026 Institutional Flows: Energy Leads, Mega-Cap Tech Trimmed, Semiconductors Diverge from Software

Institutions reversed course sharply from Q4 2025, pulling a net -$3.11T across 1,905 tracked equities while rotating into energy, semiconductor equipment, and defense infrastruct…

MUSNDKXOMCVX
Earnings Analysis CRM May 30, 2026

Salesforce Q1 FY2027: Agentforce Crosses $1B, Buyback Boosts EPS

Q1 FY2027 delivered a headline non-GAAP EPS beat of $0.75 and record free cash flow of $6.6B, yet both figures carry structural footnotes — a $25B debt-financed buyback inflating …

Earnings Analysis DELL May 30, 2026

Dell Technologies Q1 FY2027: AI Revenue Multiplies 9x, Full-Year Guide Raised $27B

Q1 FY2027 delivered revenue of $43.8B — $8.1B above consensus — as AI server demand obliterated forecasts. Dell raised its full-year guide to $167B, the largest single-quarter gui…

Quantinuum: The Fault-Tolerant Spinout Behind Quantum's Largest IPO
IPO Analysis QNT May 27, 2026

Quantinuum: The Fault-Tolerant Spinout Behind Quantum's Largest IPO

Honeywell's trapped-ion spinout is targeting a $12.7 billion valuation at IPO — on $31 million in revenue — underpinned by world-record gate fidelity, a $677 million cash fortress…

TSM LRCX AMAT GEV
Institutional Intelligence May 22, 2026

Q1 2026: Coatue Pivots to Semiconductor Equipment, Exits Software Leaders

Philippe Laffont's $29.1B disclosed long equity portfolio shed $10.9B in market value as Coatue cut software leaders including Microsoft (–52% of shares), Meta (–26%), and Snowfla…

TSMLRCXAMATGEV
Earnings Analysis NVDA May 22, 2026

NVIDIA Q1 FY2027: $81.6B, Record Free Cash Flow, and a New $200B CPU Bet

NVIDIA's fourteenth consecutive quarter of sequential revenue growth produced a record $13.5B sequential gain, a $48.6B free cash flow print, and the disclosure of a Vera CPU busi…

IPO Analysis SPCX May 21, 2026

SpaceX S-1: The Infrastructure IPO Behind Every Layer of the AI-Space Stack

SpaceX's S-1 reveals a $18.7B revenue conglomerate spanning rocket launches, the world's largest LEO broadband network, and a newly acquired frontier AI platform - targeting the l…

BRK.A BRK.B
Institutional Intelligence May 20, 2026

Q1 2026: Greg Abel's First Filing — 16 Exits, a Tripled Alphabet Stake, and a Leaner 29-Position Portfolio

Berkshire Hathaway's first 13F under new CEO Greg Abel shows the most concentrated single-quarter exit activity in recent memory, with 16 positions fully liquidated while Alphabet…

BRK.ABRK.B
NVDA ORCL AVGO BE
Institutional Intelligence May 19, 2026

Situational Awareness Q1 2026 13F: Semiconductors Take Center Stage as Fund Triples AUM to $13.68B

Leopold Aschenbrenner's AI infrastructure fund opened five major semiconductor positions in Q1 2026, massively increased its Bloom Energy stake by 1,488% in shares, and rotated ou…

NVDAORCLAVGOBE
Earnings Analysis AMAT May 16, 2026

Applied Materials: Gross Margin Crosses 50%, WFE Growth Estimate Upgraded to 30%+

Q2 FY2026 delivered record revenue of $7.91B and the highest non-GAAP gross margin in more than 25 years, as AI-driven demand in foundry logic, DRAM, and advanced packaging accele…

Earnings Analysis NBIS May 16, 2026

Nebius Group: The Hyperscaler in the Making Finds Its Operating Leverage

Q1 FY2026 delivered $399M in revenue — a 684% year-over-year surge — alongside the first-ever positive adjusted EBITDA at the group level, a $27B Meta contract, and a CapEx raise …

Earnings Analysis HIMS May 13, 2026

Hims & Hers Health: The GLP-1 Pivot and the Price of Reinvention

A deliberate March 2026 exit from compounded GLP-1s into branded Wegovy and Zepbound products produced a $33M restructuring charge, a catastrophic EPS miss, and a full-year EBITDA…

Company Spotlight STM May 9, 2026

STMicroelectronics: Emerging from the Trough with AI, Satellites, and Silicon Carbide

After two years of sharp revenue contraction, STM's Q1 2026 results and a multibillion-dollar AWS deal signal a recovery built on three structural growth engines that did not exis…

Lime IPO: The Dominant Micromobility Platform Navigating a Billion-Dollar Debt Wall to Market
IPO Analysis LIME May 9, 2026

Lime IPO: The Dominant Micromobility Platform Navigating a Billion-Dollar Debt Wall to Market

The world's largest shared e-scooter and e-bike operator files to go public on Nasdaq — bringing three years of revenue momentum, positive free cash flow, and a $683 million conve…

Earnings Analysis RKLB May 9, 2026

Rocket Lab: $200M Quarter, Record Backlog, and the Neutron Moment

Rocket Lab crossed $200M in quarterly revenue for the first time in Q1 FY2026, beating estimates on both top-line and margins while stacking the largest contract in company histor…

Fervo Energy: Drilling Into America's Firm Power Gap With Enhanced Geothermal
IPO Analysis FRVO May 5, 2026

Fervo Energy: Drilling Into America's Firm Power Gap With Enhanced Geothermal

Fervo is targeting a $6.5 billion IPO valuation with 500 MW under construction and $7.2 billion in contracted PPA backlog — a pre-revenue bet that its oil-and-gas-derived EGS tech…

Company Spotlight ON May 5, 2026

onsemi: Cyclical Recovery Meets Structural Transformation in Power Semiconductors

After a two-year revenue decline from an $8.3B peak, onsemi posted its first year-over-year quarterly growth in three years in Q1 2026, as AI data center power demand, a 900V EV a…

Earnings Analysis PLTR May 5, 2026

Palantir Q1 FY2026: Triple-Digit U.S. Growth and the Largest Guidance Raise in Company History

Palantir's first quarter of 2026 produced 85% revenue growth — the highest growth rate since its direct listing — driven by 104% U.S. expansion, a 60% adjusted operating margin, a…

Earnings Analysis AAPL May 4, 2026

Apple Q2 FY2026: Record Quarter Frames a Leadership Handoff

Tim Cook's 89th — and penultimate — earnings call delivered $111.2B in revenue and a 49.3% gross margin, both above guidance, while announcing John Ternus succeeds him as CEO on S…

Earnings Analysis SNDK May 1, 2026

Sandisk: The Quarter That Rewrote the NAND Playbook

Q3 FY2026 results delivered a historic triple-beat — revenue, gross margin, and EPS each came in above the top of management's own guidance range — as AI-driven data center demand…

Earnings Analysis AMZN May 1, 2026

Amazon Q1 FY2026: AWS Hits Escape Velocity While CapEx Overwhelms Free Cash Flow

AWS growth accelerated to 28% year-over-year — its fastest pace in 15 quarters — and operating margins hit a record 13.1%, but $44.2 billion in quarterly CapEx flipped free cash f…

Earnings Analysis META May 1, 2026

Meta Platforms Q1 FY2026: The CapEx Shock That Overshadowed a 33% Revenue Beat

Meta's first quarter delivered its fastest revenue growth since 2021, powered by AI-driven ad improvements and 3.56 billion daily users — but a $10B CapEx guidance hike sent share…

Company Spotlight META May 1, 2026

Meta Platforms: Advertising Giant Betting Its Future on AI Infrastructure

With 3.56 billion daily users, a rapidly accelerating ad business, and a $125–$145 billion capex commitment in 2026 alone, Meta is deploying its cash machine to fund the most ambi…

Earnings Analysis MSFT May 1, 2026

Microsoft Q3 FY2026: Azure Hits 40%, AI ARR Surpasses $37B as CapEx Ramp Tests Free Cash Flow

A broad beat on revenue and EPS masks a post-earnings stock decline driven by Q4 CapEx guidance above $40 billion and a Q4 revenue midpoint marginally below consensus — the tensio…

Earnings Analysis GOOGL May 1, 2026

Alphabet: Cloud Crosses $20 Billion, AI Full Stack Delivers the Quarter

Q1 FY2026 results mark an inflection point for Google Cloud as enterprise AI monetization accelerates sharply — while a $37.7B non-cash investment gain inflates the headline EPS a…

Pershing Square Inc: The Fee Machine Behind Ackman's Permanent Capital Franchise
IPO Analysis PS Apr 29, 2026

Pershing Square Inc: The Fee Machine Behind Ackman's Permanent Capital Franchise

Pershing Square Inc. (NYSE: PS) went public on April 29, 2026 via a novel combined listing structure in which its shares were distributed free to investors in the simultaneously l…

NVDA TSM AMZN GOOGL
Institutional Intelligence Apr 29, 2026

Sands Capital Management: Q4 2025 Portfolio Analysis

A -8.5% quarter and $3.37 billion in market value losses masked deliberate repositioning: Sands built Carvana from $12.8M to $1.03B in four quarters, near-exited Atlassian as the …

NVDATSMAMZNGOOGL
MLQ
Institutional Intelligence Apr 29, 2026

Baillie Gifford Q4 2025: Price-Driven Declines, a $933M Axon Build, and Systematic Cloudflare Exit

Baillie Gifford's $120.34B US equity portfolio declined 10.2% in Q4 2025, with most dollar losses driven by price moves rather than active selling — while the fund made deliberate…

Earnings Analysis IBM Apr 26, 2026

IBM Q1 2026: Z17 Surge, Confluent Closed Early, and the Guidance Gap

IBM delivered its strongest Q1 free cash flow in a decade and beat on both revenue and EPS, yet shares fell 8.25% as investors penalized management for maintaining — rather than r…

Earnings Analysis INTC Apr 26, 2026

Intel Q1 FY2026: The CPU Reasserts Itself

Intel beat its own guidance by $1.4 billion in revenue and delivered $0.29 non-GAAP EPS against a near-zero consensus, triggering a 24% single-day stock surge as AI infrastructure…

Company Spotlight QCOM Apr 25, 2026

Qualcomm: Snapdragon Dominance, the Apple Modem Exit, and a $22B Diversification Bet

The world's leading mobile chipmaker is navigating a structural Apple modem transition and DRAM-driven near-term headwinds while building a targeted $22B automotive and edge AI re…

Company Spotlight MRVL Apr 25, 2026

Marvell Technology: Engineering the Backbone of the AI Data Center

From a storage and networking chip supplier to a full-stack AI infrastructure platform, Marvell has repositioned through disciplined M&A and custom silicon wins with every major U…

Company Spotlight VRT Apr 25, 2026

Vertiv Holdings: The Physical Layer of the AI Infrastructure Build-Out

As hyperscalers race to deploy AI compute at unprecedented density, Vertiv supplies the power, cooling, and management infrastructure that makes it physically possible — a positio…

Company Spotlight NEE Apr 25, 2026

NextEra Energy: America's Default Energy Infrastructure Builder in the Age of Unlimited Demand

As AI-driven electricity demand reshapes the U.S. power market, NextEra sits at the intersection of a regulated Florida growth engine and the largest contracted renewables develop…

Company Spotlight AMAT Apr 25, 2026

Applied Materials: The Materials Engineering Engine Behind the AI Chip Buildout

Applied Materials holds No. 1 process equipment share in leading-edge logic, DRAM, and advanced packaging — the three segments management identifies as the fastest-growing areas o…

Company Spotlight POET Apr 25, 2026

POET Technologies: Betting on Photons in the AI Data Center Arms Race

With $430M in cash, 53 employees, and $1.07M in annual revenue, POET is making a large wager that its Optical Interposer platform can become the wafer-level integration layer powe…

Earnings Analysis TSM Apr 24, 2026

TSMC Q1 FY2026: Gross Margin Inflection, N3 Global Expansion, and the Agentic AI Demand Step-Up

TSMC delivered a new gross margin record of 66.2% in Q1 FY2026, raised its full-year 2026 revenue growth guidance to above 30%, and disclosed a coordinated global expansion of N3 …

Company Spotlight ONDS Apr 24, 2026

Ondas Inc: From Rail Wireless to Multi-Domain Defense - A $5 Billion Pivot in Progress

Once a niche railroad communications supplier, Ondas has spent $1.8 billion since mid-2025 assembling a portfolio of counter-drone, autonomous ground, and stratospheric ISR system…

BRK.A BRK.B
Institutional Intelligence Apr 24, 2026

Q4 2025: Buffett's Final Filing — Trimming Tech, Building Insurance, Near-Exiting Amazon

Berkshire Hathaway's last 13F under Warren Buffett's leadership reveals a $274B portfolio defined by systematic exits from Apple and Bank of America, accelerating conviction in Ch…

BRK.ABRK.B
Earnings Analysis TSLA Apr 24, 2026

Tesla: Margin Recovery Meets the $25 Billion Capital Escalation

Q1 FY2026 delivered a 16% non-GAAP EPS beat and the highest gross margin in six quarters, while simultaneously raising 2026 CapEx by $5 billion to more than $25 billion and signal…

GOOGL NVDA IONQ
sector_research Apr 24, 2026

The Quantum Computing Ecosystem: Hardware, Software, Security, and the Infrastructure Beneath

With $4.2 billion in venture investment in 2025, NIST post-quantum standards finalized, and IonQ becoming the first publicly listed quantum company to cross $100 million in annual…

GOOGLNVDAIONQ
NVDA AMD TSM ASML
Market Map Apr 23, 2026

The AI Infrastructure Market Map: 88 Companies Across the Full Stack

From silicon foundries to inference APIs, the AI infrastructure ecosystem is absorbing ~$690 billion in hyperscaler capital expenditure in 2026 alone — mapping every layer from ch…

NVDAAMDTSMASML
RKLB ASTS PL LUNR
Market Map Apr 22, 2026

The Space Economy: Mapping 86 Companies Across 11 Subsectors

From rocket engines and specialty alloys to LEO mega-constellations and cislunar infrastructure, the global space economy encompasses 86 companies across a supply chain that is si…

RKLBASTSPLLUNR
TSLA NVDA ISRG ABB
Earnings Intelligence Apr 20, 2026

Robots, Real and Promised: A Cross-Earnings Intelligence Report on Physical AI

Four companies at four different stages of physical AI maturity: one with 30 years of proof, one booking $6B in infrastructure revenue, one converting a car factory for humanoids,…

TSLANVDAISRGABB
MLQ
Institutional Intelligence Apr 20, 2026

Lone Pine Capital: Q4 2025 Portfolio Analysis

Q4 2025 was Lone Pine's most active quarter in the four-period tracked window — 14 new positions totaling ~$3.5 billion opened across semiconductors, healthcare, and specialty ind…

Liftoff Mobile IPO: The AI Engine Underneath the App Economy
IPO Analysis LFTO Apr 20, 2026

Liftoff Mobile IPO: The AI Engine Underneath the App Economy

Backed by Blackstone and powering over 140,000 apps globally, Liftoff Mobile is the largest independent mobile performance advertising platform — filing twice for a Nasdaq listing…

Earnings Analysis NFLX Apr 20, 2026

Netflix Q1 2026: A $2.8B Windfall Masks a Solid, But Not Spectacular, Quarter

Netflix posted headline EPS of $1.23 — a 61% consensus beat — but the number is almost entirely a function of a $2.8 billion one-time Warner Bros. Discovery termination fee. Strip…

HawkEye 360 IPO: The First Space-Based Signals Intelligence Company Goes Public
IPO Analysis HAWK Apr 19, 2026

HawkEye 360 IPO: The First Space-Based Signals Intelligence Company Goes Public

HawkEye 360 is seeking a NYSE listing under the ticker HAWK, bringing the first commercial space-based signals intelligence company to public markets at a moment when global defen…

X-Energy IPO: A Government-Funded R&D Startup Betting on a Trillion-Dollar Commercial Nuclear Transition
IPO Analysis XE Apr 19, 2026

X-Energy IPO: A Government-Funded R&D Startup Betting on a Trillion-Dollar Commercial Nuclear Transition

X-energy is raising ~$750M in its Nasdaq IPO to fund the transition from an ARDP-dependent engineering services firm into a capital-light IP licensor and TRISO-X fuel fabricator —…

Cerebras Systems IPO: The Wafer-Scale Bet on AI Inference Speed
IPO Analysis CBRS Apr 19, 2026

Cerebras Systems IPO: The Wafer-Scale Bet on AI Inference Speed

Armed with the world's first commercialized wafer-scale processor, a $20B+ OpenAI supply agreement, and revenue that grew 20x in three years, Cerebras is seeking a Nasdaq listing …

JPM BAC C WFC
Earnings Intelligence Apr 19, 2026

Credit Quality & the Consumer: Resilient Today, Nervous About Tomorrow

All four major U.S. banks reported benign Q1 2026 consumer credit metrics — but each flagged the second half as the real test, with energy prices, a bifurcating consumer, and a sh…

JPMBACCWFC
JPM GS BAC MS
Earnings Intelligence Apr 19, 2026

Q1 2026: What Bank CEOs Are Saying About Iran, Oil & Recession Risk

All four major U.S. banks reported record or near-record Q1 FY2026 results while naming the Iran-Hormuz conflict as the primary macro variable — a geopolitical crisis that has sim…

JPMGSBACMS
NVDA META MSFT AMZN
Institutional Intelligence Apr 18, 2026

Q4 2025 Altimeter Capital: AI Infrastructure Reloaded, China Fully Exited, 8 Positions Closed

Brad Gerstner's Altimeter Capital ended 2025 with its most active quarter of portfolio reshaping in the trailing year — eliminating all China-linked exposure, near-fully exiting B…

NVDAMETAMSFTAMZN
GOOGL MSFT AMZN NVDA
Institutional Intelligence Apr 18, 2026

Tiger Global Q4 2025: Mega-Cap Tech Dominates a Low-Turnover Portfolio

Chase Coleman's fund ended Q4 2025 with $29.71B across 54 disclosed positions, posting -4.55% on the quarter while outpacing the S&P 500 by ~6 percentage points over the trailing …

GOOGLMSFTAMZNNVDA
TSM MSFT META AMZN
Institutional Intelligence Apr 18, 2026

Coatue Management Q4 2025: 35 Position Cuts, Rotates Deeper Into Semiconductors

Philippe Laffont's $40B technology fund pruned its portfolio from roughly 75 to 52 holdings in Q4 2025, exiting CoreWeave, Intuit, Atlassian, and KKR while doubling down on semico…

TSMMSFTMETAAMZN
CRWV INTC LITE CORZ
Institutional Intelligence Apr 18, 2026

Situational Awareness, Q4 2025: Exiting Chip Giants, Scaling the Compute Layer

Situational Awareness LP ends Q4 2025 with $5.52B in disclosed equity exposure concentrated almost entirely in AI compute infrastructure, power, and crypto mining — exiting NVIDIA…

CRWVINTCLITECORZ
AMZN NVDA MSFT GOOGL
Institutional Intelligence Apr 18, 2026

Q4 2025 Institutional Convergence: AI Infrastructure Anchors Cross-Style Portfolios

Across 41 tracked discretionary funds, Amazon is the only stock held by managers from every category — Value, Activist, Growth, Macro, Multi-Strategy, and Asset Manager — while NV…

AMZNNVDAMSFTGOOGL
Company Spotlight OUST Apr 18, 2026

Ouster: Building the Sensing and Perception Stack for Physical AI

After twelve consecutive quarters of product revenue growth and a $169M FY2025, Ouster is pivoting from digital lidar hardware maker to full-stack Physical AI platform — but the p…

Company Spotlight VRT Apr 17, 2026

Vertiv Holdings: The Power and Cooling Infrastructure Behind the AI Data Center Buildout

From a SPAC listing with negative free cash flow in 2022 to a $115.9B market cap company carrying a $15B order backlog, Vertiv has become the critical infrastructure supplier at t…

Company Spotlight AEHR Apr 16, 2026

Aehr Test Systems: The Burn-in Specialist Focused on AI Reliability Infrastructure

With a record $41 million order from a lead hyperscale AI customer and second-half FY2026 bookings surpassing $92 million, Aehr Test is pivoting from a silicon carbide niche playe…

Company Spotlight AAOI Apr 16, 2026

Applied Optoelectronics: Two Revenue Engines, One Buildout for AI Capacity

A vertically integrated optical transceiver maker riding AI-driven data center spending and a CATV spectrum upgrade cycle, with management targeting a revenue doubling to over $1 …

LLY MRNA RXRX EXAI
Earnings Intelligence Apr 16, 2026

Biotech x AI: The First Clinical POC and What Comes Next

Across four companies spanning Big Pharma to pure-play AI biotech, the Q4 2025/early 2026 earnings cycle marks a genuine inflection: the sector now has its first confirmed AI-enab…

LLYMRNARXRXEXAI
META GOOGL TTD SNAP
Earnings Intelligence Apr 16, 2026

AI & Advertising: The Intelligence Stack Is the New Moat

Across four Q4 FY2025 earnings calls, a unified signal emerges: AI has ceased to be a performance layer on top of traditional advertising and is now the substrate of the entire st…

METAGOOGLTTDSNAP
Company Spotlight BE Apr 15, 2026

Bloom Energy: Solid-Oxide Fuel Cells at the Center of the AI Power Crisis

With Oracle expanding to 2.8 GW and a $20B backlog, Bloom Energy's two-decade technology bet has collided with AI infrastructure's most pressing constraint: power, fast.

AMZN MSFT GOOGL
Earnings Intelligence Apr 15, 2026

The AI Flywheel: Cloud Reacceleration at Scale

AWS, Azure, and Google Cloud all posted accelerating growth in Q4 2025 — simultaneously and across meaningfully different bases — with each management team signaling that AI deman…

AMZNMSFTGOOGL
Company Spotlight SNDK Apr 15, 2026

Sandisk: The Pure-Play NAND Insurgent at the Center of the AI Storage Supercycle

Spun out of Western Digital in February 2025, Sandisk is executing a rapid margin expansion as AI-driven data center demand pushes NAND pricing to multi-year highs and the company…

Company Spotlight MSFT Apr 14, 2026

Microsoft: Full Stack AI Infrastructure at the Center of the Enterprise Stack

Azure is growing at 39-40% in constant currency while demand visibly outpaces supply. The question is whether $30B+/quarter in capital expenditure converts into durable margin exp…

ASML TSM INTC AMKR
Earnings Intelligence Apr 14, 2026

EUV & Advanced Packaging: The Infrastructure Race That Will Define AI

Across four earnings calls in January–February 2026, executives at ASML, TSMC, Intel, and Amkor drew a strikingly unified picture: AI has validated its demand, capacity is the bin…

ASMLTSMINTCAMKR
Company Spotlight CRDO Apr 13, 2026

Credo Technology: The Copper Backbone of AI Infrastructure and the Optical Ambition Beyond It

From a niche SerDes IP company to the de facto connectivity standard for the world's largest AI clusters, Credo has grown revenue more than 6x in two years — and is now expanding …

Company Spotlight SOLS Apr 13, 2026

Solstice Advanced Materials: Specialty Chemistry at the Intersection of Nuclear, AI Chips, and Next-Generation Refrigerants

Spun out of Honeywell in October 2025, Solstice carries a 130-year specialty materials legacy into three converging secular tailwinds: a nuclear renaissance, an AI-driven semicond…

MLQ
Institutional Intelligence Apr 13, 2026

Q4 2025 Institutional Flows: Healthcare and Industrials Surge, Software Faces Broad Selling

Aggregate net institutional inflows across 1,929 tracked equities more than doubled quarter-over-quarter to $8.24T, with Eli Lilly alone capturing $1.08T in net institutional capi…

ANET AVGO MRVL NVDA
Earnings Intelligence Apr 13, 2026

Networking at Scale: The Race to Wire the AI Megacluster

Four companies are collectively building the most expensive network ever constructed. Their earnings calls tell a coherent but tension-filled story: Ethernet is winning scale-out,…

ANETAVGOMRVLNVDA
CEG NEE VST DLR
Earnings Intelligence Apr 13, 2026

Grid Buildout & Utility Response: The Race to Power AI

Four companies at the center of America's power supercycle -- nuclear operators, utilities, and data center landlords -- are all signaling the same structural shift: hyperscaler d…

CEGNEEVSTDLR
Company Spotlight ARM Apr 12, 2026

Arm Holdings: Royalty Rate Inflection, Architecture Leverage, and the AI Data Center Shift

As Armv9 and Compute Subsystems push per-chip royalty rates structurally higher, Arm's Neoverse platform is capturing approximately half of new hyperscaler server deployments — a …

Company Spotlight INTC Apr 12, 2026

Intel: The American Foundry Pivot - Navigating 18A, Market Share Attrition, and the AI Inflection

A company attempting to rebuild its process technology leadership from within, while simultaneously defending its CPU franchise from AMD and fighting for relevance in AI accelerat…

Company Spotlight TSM Apr 12, 2026

TSMC: The Indispensable Foundry at the Center of the AI Infrastructure Build-Out

With 3nm capacity fully committed, 2nm entering high-volume manufacturing, and CoWoS packaging constrained through 2027, TSMC sits at the physical chokepoint of the global AI acce…

CEG VST OKLO NNE
Earnings Intelligence Apr 11, 2026

Nuclear Renaissance for AI: The Gap Between Today's PPAs and Tomorrow's Reactors

Across four earnings calls, a two-phase story emerges: existing nuclear is already being repriced and contracted for AI demand, while the SMR and microreactor wave that meets the …

CEGVSTOKLONNE
PLTR LMT RTX RKLB
Earnings Intelligence Apr 11, 2026

The Defense Stack Rebuild: AI, Missiles, and Space at Full Speed

Palantir, Lockheed Martin, RTX, and Rocket Lab collectively describe a defense modernization playing out simultaneously at three layers -- AI at the command layer, record munition…

PLTRLMTRTXRKLB
RKLB ASTS LUNR RDW
Earnings Intelligence Apr 11, 2026

Commercial Space Race: Government Is the Rocket Fuel

Reading RKLB, ASTS, LUNR, and RDW Q4 FY2025 calls together reveals a sector pivoting from commercial disruption narratives to Pentagon dependency, while SpaceX dominates launch ca…

RKLBASTSLUNRRDW
VRT CEG DLR EQIX
Earnings Intelligence Apr 10, 2026

Power Is the Product: Data Center Power & Cooling Q4 FY2025 Cross-Earnings Report

From nuclear PPAs to liquid cooling fluid networks, Vertiv, Constellation, Digital Realty, and Equinix collectively reveal that power availability has replaced location as the def…

VRTCEGDLREQIX
Company Spotlight NVDA Apr 9, 2026

NVIDIA: The AI Infrastructure Stack at Full Throttle

With $215.9B in FY2026 revenue, a Vera Rubin GPU platform entering production, and Q1 FY2027 guided to $78B, NVIDIA is navigating the transition from Blackwell dominance to the ne…

MU NVDA AMD
Earnings Intelligence Apr 9, 2026

HBM4 & the AI Memory Chokepoint: What MU, NVDA, and AMD Execs Are Saying

Micron's HBM4 volume shipments for NVIDIA Vera Rubin confirm AI memory has crossed from commodity to strategic asset, while AMD's leap to HBM4E in 2027 and MU's 50–67% fulfillment…

MUNVDAAMD
Company Spotlight ASML Apr 8, 2026

ASML: The Sole Architect of Advanced Chip Manufacturing

The world's only manufacturer of EUV lithography systems posted record FY2025 revenue of EUR 32.7 billion and a record EUR 38.8 billion backlog, even as bipartisan U.S. legislatio…

MSFT CRM NOW SNOW
Earnings Intelligence Apr 8, 2026

Enterprise AI Spending: Where the Budgets Are Actually Going

We analyzed earnings calls for seven enterprise software companies in Q4 2025 spanning the full AI stack. Reading them together reveals a hierarchy no single call discloses: three…

MSFTCRMNOWSNOW
CRWD PANW ZS
Earnings Intelligence Apr 6, 2026

Cybersecurity in the AI Era: What CrowdStrike, Palo Alto, and Zscaler Are Telling Investors

We analyzed the latest earnings calls from CrowdStrike, Palo Alto Networks, and Zscaler to see what executives are actually saying about AI-driven threats, enterprise spending, an…

CRWDPANWZS
CRWV NBIS IREN
Earnings Intelligence Apr 5, 2026

Neocloud Power Race: Gigawatt Ambitions, Billion-Dollar Bets

CoreWeave, Nebius, and IREN each reported selling out all available capacity — but the real competition is being fought in capital markets, where three divergent financing strateg…

CRWVNBISIREN
NVDA MSFT GOOGL AMZN
Earnings Intelligence Apr 4, 2026

Mag-7 AI CapEx: $700B and Counting

Six of seven Magnificent-7 companies are accelerating AI infrastructure investment at an unprecedented pace, with aggregate 2026 CapEx guidance from the top hyperscalers approachi…

NVDAMSFTGOOGLAMZN
Company Spotlight AMD Apr 3, 2026

AMD: EPYC Dominance, Instinct Inference, and the Long War Against CUDA

AMD closed FY2025 with record revenue of $34.6B (+34% YoY), a surging EPYC server CPU franchise, and an AI GPU business generating $16.6B in data center revenue — yet the gap to N…

Company Spotlight MU Apr 2, 2026

Micron Technology: Memory's AI-Era Transformation and the HBM4 Supercycle

From a $5.8B net loss in FY2023 to a $33.5B quarterly revenue guide — Micron is executing an HBM-driven margin expansion that is reshaping the economics of semiconductor memory.

MLQ
Sector Research Mar 30, 2026

Optical Networking

The Interconnect Constraint: Lasers, transceivers, and switching silicon in the race to feed AI infrastructure.

Company Spotlight ARM Mar 26, 2026

Arm: The Licensing Giant Ships Its First Chip

After three decades of licensing chip designs, Arm bets on its own silicon as AI reshapes the semiconductor industry.

MLQ
Analysis Mar 25, 2026

Google's TurboQuant

A training-free algorithm compresses LLM memory 6x on benchmarks. Memory stocks sold off within hours. What's real, what's overblown, and what it means for the AI supply chain.

Company Spotlight LITE Mar 24, 2026

Lumentum Holdings

How a dot-com-era photonics spinoff became the laser engine behind every major AI data center buildout.

Company Spotlight ASTS Mar 23, 2026

AST SpaceMobile

The audacious bet that your existing smartphone can connect to a satellite — no special hardware required.

Company Spotlight NBIS Mar 13, 2026

Nebius Group

Building the picks-and-shovels layer for the AI revolution — at hyperscaler scale, with founder-led focus.

Company Spotlight CRWV Mar 10, 2026

CoreWeave

A former cryptocurrency mining operation turned GPU cloud provider, now running one of the largest AI infrastructure platforms outside the hyperscalers.

Company Spotlight IONQ Mar 10, 2026

IonQ

First public quantum company to $100M in revenue — and the race to fault-tolerant quantum computing.

MLQ
Sector Research Feb 28, 2026

Physical AI

The Next Industrial Revolution: How AI-enabled robots and autonomous systems are moving from R&D to factory floors.

MLQ
Sector Research Dec 13, 2025

AI Data Center Cooling

The Critical Infrastructure Bottleneck: How thermal management became the constraint nobody talks about.

Company Spotlight PLTR Dec 1, 2025

Palantir Technologies

Decoding the $400B operational AI platform built on government contracts and now expanding aggressively into commercial enterprise.

MLQ
Sector Research Nov 29, 2025

Neocloud Infrastructure

The emerging GPU cloud providers building AI infrastructure at scale outside the hyperscaler giants.

MLQ
Sector Research Nov 26, 2025

AI Chips & Accelerators

The Silicon Foundation of the AI Revolution: GPUs, ASICs, and the companies competing to power frontier AI.

Company Spotlight RKLB Nov 12, 2025

Rocket Lab (RKLB): An Emerging Full-Stack Space Company

Rocket Lab (RKLB) has evolved from a small-rocket startup into a full-stack space company spanning launch, satellite manufacturing, and spacecraft components—positioning itself as…

Company Spotlight LMND Nov 8, 2025

Lemonade (LMND): An Overview of AI-Powered Insurtech

Deep dive into Lemonade (LMND) and its AI-based insurance, product mix, growth, risks, and valuation.

Company Spotlight IONQ Nov 2, 2025

IonQ: The Leader in Trapped-Ion Quantum Computing

Deep dive into IonQ, the leading trapped-ion quantum computing company - its tech, partnerships, growth, risks, and investment considerations.

Company Spotlight TEM Sep 18, 2025

Tempus AI (TEM): At the Crossroads of Diagnostics and Data

In this deep dive, we’ll look at Tempus’s growth, partnerships, valuation, and product pipeline to understand whether the company is at an inflection point, and if investors are t…

IPO Analysis KLAR Sep 10, 2025

Klarna IPO: Understanding the Business of BNPL

In this deep dive, we look at Klarna’s IPO and whether its global BNPL scale and push into ads and banking justify the ~$13–14B valuation.

Company Spotlight ABCL Aug 22, 2025

AbCellera (ABCL): Many Shots on Goal in Antibody Discovery

In this deep dive, we explore whether AbCellera (ABCL) is just another biotech story or an asymmetric setup — a platform with many shots on goal and the backing to prove it.

Company Spotlight NBIS Aug 15, 2025

Nebius Q2 2025: ARR Rises 73% QoQ, Why We're Still Buying

Nebius delivered a breakout Q2 2025: ARR jumped 73% QoQ to $430M, revenue more than doubled sequentially, and the core AI infrastructure business turned positive on Adjusted EBITD…

Company Spotlight OKLO Aug 6, 2025

Oklo: Building Nuclear Power for AI Energy Demand

Oklo is developing advanced nuclear microreactors to supply clean, reliable power for AI infrastructure and remote facilities. Backed by Sam Altman, the company aims to commercial…

Company Spotlight CRWV Jul 30, 2025

CoreWeave (CRWV): Understanding The Business of AI Infrastructure

CoreWeave is one of the fastest-growing AI infrastructure companies, powering OpenAI and Microsoft with large-scale GPU cloud. This deep dive breaks down how the business works, i…

IPO Analysis FIG Jul 21, 2025

Figma IPO: Unpacking the S-1

This deep dive breaks down, analyzing its growth, financials, product strategy, and why it’s one of the most anticipated IPOs of 2025.

Company Spotlight OSCR Jul 11, 2025

Oscar Health (OSCR): The Making of an AI-Powered Insurtech Giant

Oscar is evolving from an insurtech underdog into a profitable “full-stack” health insurance platform with a growing member base and improving margins – positioned to compound gro…

Company Spotlight IREN Jul 9, 2025

IREN Deep Dive: Profitable Bitcoin Mining Powering AI Infrastructure

IREN is a Bitcoin miner funding its own pivot into AI infrastructure. With 2.75 GW of power already secured and buildouts underway, the stock may be priced like a miner — but it’s…

Company Spotlight AMD Jul 3, 2025

AMD: The Next $1 Trillion AI Giant Set to Dominate Inference

In this deep dive, we explore the thesis that AMD is set to dominate the AI inference market.

Company Spotlight HIMS Jun 15, 2025

Hims & Hers Deep Dive: Building a Consumer Health Flywheel

A deep dive on Hims & Hers: 2.4M+ subscribers, strong margins, and the kind of long-term upside you get when network effects, retention, and vertical integration start to compound.

Company Spotlight NBIS May 29, 2025

MLQ.ai Initiates Coverage: Nebius Group (NBIS)

Nebius Group (NASDAQ: NBIS) is building one of the fastest-growing AI infrastructure platforms in the public market—scaling toward $1B ARR, holding $5.8B in assets, and still trad…

The Power Delivery GapReport
Research

The Power Delivery Gap

The interconnection queue holds more than 1,100 GW of power. The grid delivers renewables quickly and firm gas slowly, if at all. A model of what the US grid can actually deliver, and when, built on MLQ's queue and generator data.

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