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Market View

AI Industry Analysis

Companies, supply chains, investment logic, and industry reports. This hub organizes research notes; it does not provide entry points, price targets, or stock recommendations.

OPENAI

OpenAI is the company behind ChatGPT, API products, Sora, and enterprise AI platforms.

GOOG

Google (Alphabet)

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Google brings together Gemini, DeepMind, TPUs, Search, Cloud, and Workspace distribution.

ANTH

Anthropic is the company behind Claude, enterprise safety work, long context, and AI coding workflows.

SPCX

SpaceX & SpaceXAI

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SpaceX, SpaceXAI, Starlink, Starship, and Musk infrastructure are tracked as one industrial stack.

PPLX

Perplexity is an AI search and answer-engine company with a developing advertising model.

MISTRAL AI

Mistral AI is a European model company focused on open strategy and enterprise deployment.

CHINA AI

A neutral industry view of China's AI model ecosystem, covering companies, product positioning, ecosystems, and supply-chain constraints without stock picks or trading advice.

Coming soon: Chinese AI model company profiles are being organized and will be added here.

ANALYTICS

Observation and judgment frameworks for the AI industry: bubble debates, where the money flows, circular financing, and compute rental. Understanding structure, not chasing tickers.

Is-AI-a-bubble illustration: capex and revenue on the two ends of a scale, warm tones, neutral and without direction AI Industry Notes Is AI a Bubble? Here's a Ruler: Four Metrics to Check for Yourself Nobody can reliably predict whether AI is a bubble. This piece doesn't hand you an answer; it hands you a ruler: the gap between capex and payback, revenue quality, circular financing, and chip-depreciation assumptions, all read together. We lay out the strongest arguments and key numbers from both bulls and bears, so you can judge for yourself instead of listening to whoever shouts loudest.
  1. AI Industry Notes What Are AI Stocks? One Money Map to See Who Earns and Who Burns AI stocks come in countless flavors, but what you really need to grasp is how the money flows. This piece draws one money map, starting from the cloud giants' nearly trillion-dollar capex and following it down to chips, equipment, memory, server contract manufacturers, and model companies — so you can see which layer has fat margins, which is thin, which is still investing heavily, and why.
  2. AI Industry Notes What Is an AI ETF? How to Read Its Holdings, Types, and Expense Ratio Want to ride AI through an ETF, but there are countless AI ETFs and the differences are murky? This plain-English guide explains what an AI ETF is, the common types (pure AI theme, semiconductors, robotics, big tech), how to read holdings and expense ratios, and why two funds both named 'AI' can hold very different stocks. For educational purposes; no specific picks recommended.
  3. AI Industry Notes What Is AI Circular Investing? Making Sense of the Money Loop Between NVIDIA, OpenAI, and the Cloud Giants What is AI circular investing? NVIDIA plans to invest in OpenAI, OpenAI turns around and buys compute from NVIDIA and Oracle, while Amazon and Google invest in Anthropic and then collect its cloud orders. This piece lays out the web of 'invest in each other, buy from each other,' unpacks the bull-vs-bear debate, and shows you how to tell official figures from media estimates.

EXPLAINER

Compute, chips, memory, networking, data centers, and infrastructure constraints behind AI.

Eight layers of the AI hardware supply chain: from AI chips, HBM, advanced packaging, and foundry, to optical interconnect, liquid cooling, data centers, power, and export controls Supply Chain Notes The AI Hardware Supply Chain, End to End: From a Single GPU to a Data Center, Where Are the Eight Chokepoints in the Global Lifeline? From a single GPU to a whole data center: where the global AI-hardware lifeline gets stuck across eight gates, with TSMC, HBM and CoWoS all in the mix.
  1. Supply Chain Notes What Is EUV? Why ASML's Exclusive Extreme-Ultraviolet Lithography Has the Most Advanced Chips in a Chokehold EUV (extreme-ultraviolet lithography) is the key piece of equipment for making the most advanced chips, and only ASML in the world can build it. This is a plain-English guide to what EUV is, how it works using light at a 13.5-nanometer wavelength, the difference between Low-NA and High-NA, and why it's both the lifeblood of TSMC, Samsung, and Intel and the core of export controls.
  2. Supply Chain Notes What's the Difference Between a GPU and a CPU? Why Large-Scale AI Training Runs Mainly on GPUs Computers have had CPUs for ages, so why do you need a GPU to run AI? This is a plain-English take on the difference between CPU and GPU: a CPU is a handful of powerful cores, good at handling complex tasks one at a time; a GPU is a huge number of small cores, good at running many computations in parallel at once. AI training happens to be a flood of identical computations, which plays right into a GPU's strengths, while a CPU plodding through them one by one would be hopelessly slow.
  3. Supply Chain Notes What Is Immersion Cooling? Will Dunking Servers in Coolant Be the Answer to AI Heat? Immersion cooling submerges an entire server in a non-conductive coolant to carry heat away, and it comes in single-phase and two-phase flavors. This piece spells out what it is in plain English, how it differs from cold-plate liquid cooling, why high-power AI racks have put it in the spotlight, why it still isn't mainstream, and which Taiwanese firms actually have immersion products.