Semiconductor Bottlenecks: Stock Opportunities

The key bottlenecks of the AI supercycle, and the stocks positioned to benefit

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The Next Wave of the AI Super Cycle

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The AI buildout has been given the green light to continue in full force, with OpenAI raising a massive $122 billion at a whopping $852 billion valuation.

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This has tremendous implications for the whole industry. It shows, in one way or another, that:

• Internal developments are most likely far more advanced than what the public has access to. I speculated that the public release of Blackwell-trained models will trigger another aggressive rally in the AI industry. I would say there’s a high chance these private investors have already gotten a taste of this early AGI-like capability and have become extremely excited about it.

• The largest backers of the AI cycle are more bullish than ever, and the capex race isn’t slowing down anytime soon. You don’t deploy billions of dollars into a private AI company unless you believe you’re going to outperform public market returns. If they expect OpenAI to appreciate significantly, you can also expect its developers and customers to require much more compute.

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Semiconductor bottlenecks

However, you can only demand what can be supplied, and there are massive bottlenecks across the industry.

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This is going to create a major opportunity for companies that are correctly positioned.

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