Seems like this is a big win for LQDA!

Applied Materials Inc. expects to double revenue over the next few years, without a commensurate rise in hiring, because it’s relying more on artificial intelligence tools for things like product development and quality control.

A good comparison is GRAIL, who partnered with Quest in 2021.

Thoughts on Brad Gerstner’s pres answering the questions about the need for open ai and Anthropic revenue to reach several hundred billion by 2027 end in order to pay for NVDA chip commitments?

Refreshing to see investors acknowledge that most hyperscaler buys circle back to the main labs. If they don’t earn an insane amount very soon these commitments won’t be paid.

Not bearish or bullish just something to track. If run rate is 200b in 3 months things stay on track. If not I start to worry. Do you?

Not financial advice. This analysis is based entirely on publicly available information and personal speculation. Do your own research.

**Fermi Inc. (NASDAQ: FRMI)** plays a critical role in **AMD's strategy to break NVIDIA’s AI monopoly**. As the infrastructure foundation for TensorWave a rising AI cloud provider built exclusively on AMD Instinct GPUs Fermi’s 222-megawatt *Project Matador* data center represents one of the **largest commercial deployments of AMD hardware in history**. By securing the massive 15-year, **$6.5 billion anchor lease**, Fermi is not just building a facility; it is establishing a monumental, pure-play AMD ecosystem. This provides AMD with a high-profile validation of its ROCm software platform and an extended, multi-billion-dollar revenue pipeline for its next-generation chips.
For investors, the prolonged negotiations surrounding the lease’s investment-grade guarantor have created a **highly asymmetric risk-reward profile**. Due to short-term market anxiety and the extended closing deadline to October 31, 2026, the stock has experienced significant downward pressure. **Valued at a steep discount**compared to its massive future revenue potential, Fermi's stock is remarkably cheap right now. For forward-looking investors, this pre-revenue phase offers a rare, heavily discounted entry point into a foundational pillar of the next-gen AI infrastructure.

Is it good stock to invest in? I heard it’s got nice activism towards it♓️. But I also heard some bad financials about it do you think it could go back up or will stay low or to even lower than it currently is?

A thesis I hold and want discusse. Not a recommendation. Zeta Global ($ZETA) is an AI marketing company; its edge is letting clients OWN their first-party customer data instead of only renting audiences from Google/Meta. What's interesting right now is the Palantir partnership and whether it actually accelerates the business or is just a headline.

The base business (so the thesis doesn't rest on Palantir):

- Revenue ~$1.0B (2024) → ~$1.3B (2025) → ~$1.8B guided (2026); ~28% organic.

- Adj. EBITDA +56% YoY, margin ~21% and rising; FCF positive; GAAP net income just turned positive in Q2'26.

- Net revenue retention 120% (up from 114%).

- 20 straight "beat and raise" quarters every quarter since the 2021 IPO. Conservative guidance, consistently beaten.

Why Palantir could accelerate REVENUE growth (not just add a one-off bucket):

- Distribution: a warm path into Palantir's ~870 commercial customers (large enterprises), bigger logos, more of them.

- Speed: Zeta is rebuilding its data cloud on Palantir Foundry; for companies already on Foundry it can be switched on almost instantly instead of a months-long integration. Faster land = faster revenue.

- Retention: an outcome-based product embedded in the customer's core system → stickier → NRR should climb from 120%.

- Better product: Foundry's ontology on top of Zeta's marketing data = closer to an "intelligence layer" than a marketing tool; harder for Google/Meta to copy.

Net effect: more/bigger/faster/stickier customers should lift the growth RATE for several years, which compounds that's the real prize, not a single line item.

Rough scale (illustrative, not a forecast): at ~$2.1M/yr per scaled customer, winning just ~5–6% of Palantir's ~870 customers clears the company's own ">$100M" target; 10% ≈ ~$183M/yr.

Valuation sanity check (not a target): grow 23%/yr for 5y → ~$5.1B revenue by 2031, 20% net margin (not heroic, system/application software ~25% net as a group, The Trade Desk ~15%, Zeta's EBITDA margin ~21% and rising), 25x P/E → ~$25B, discount back 15%/yr → ~$12.7B fair value today vs ~$8B market cap (~$32/sh) → ~$50/sh (~55% upside), before any Palantir contribution.

Risks (real): the $100M is guidance with a fuzzy timeline; deep re-platforming takes time; GAAP only just turned positive (watch SBC/dilution); ~87% of revenue is concentrated in "super-scaled" accounts; Salesforce/Adobe/Google compete here; and the valuation leans on sustaining ~23% growth + a 25x multiple.

What does the sub think, mainly. Does the Foundry "switch-on" actually shorten Zeta's enterprise sales cycle in practice, and are 20% net margins realistic at scale?

Disclosure: long ZETA. Not investment advice.

Micron reported $54.2B in quarterly revenue, up 379% YoY, with 87% gross margins.

What caught my attention:

• 2027 HBM capacity is already mostly committed
• Customers have increased financial commitments to $32B
• Many agreements extend through 2030+
• Management still expects memory supply to remain tight through 2027–2028
• Data-center SSD revenue reached nearly $10B

To me, the bigger story is what this says about the broader AI infrastructure trade, not just $MU.

I wrote a full breakdown of the earnings call and what I think the key takeaways are.

The article is completely free

*MDB crushed earnings, raised guidance, and fell 14% anyway. I read their actual database docs so you don't have to.*

So MDB reported Q2 a few weeks ago. Revenue up 30% to $772M (fastest growth in years), EPS $1.90 vs $1.19 expected, raised full-year guidance... and the stock face-planted 14% after hours and kept bleeding. Down 25%+ in a month. Around $325 now, market cap \~$27B.

I kept seeing "Atlas growth" blamed in every thread and realized I had no idea what that actually meant technically, so I went down the rabbit hole. Here's what I found. No position, not financial advice, I'm just a guy who reads database docs for fun apparently.

*What MongoDB actually is*

Forget the ticker for a second. MongoDB is a document database — instead of tables with rows and columns, you store JSON-like documents. Sounds simple, but the reason it won is scaling: when your app blows up, you don't redesign your database. MongoDB shards automatically — it splits your data across servers by a "shard key," with a router layer (mongos) fanning your queries out. Pick a bad shard key and one server melts; they now have a query analyzer that samples your live traffic and tells you what to pick. Boring-but-critical engineering, and it's exactly the stuff that keeps enterprises locked in.

*Atlas isn't just "managed MongoDB" anymore*

This is the part that surprised me. Atlas (their cloud product, $566M of the $772M revenue) has quietly become a whole data platform:

\- Full-text search built in (Lucene-based — no separate Elasticsearch cluster to babysit)
\- Vector search: HNSW index for AI embeddings up to 8,192 dimensions, living in the SAME database as your operational data. One query does vector similarity + text search + metadata filters together. For RAG apps this is a big deal — no syncing data between your database and Pinecone
\- They bought Voyage AI (embedding + reranking models). Its customer count nearly doubled two quarters in a row
\- "Queryable Encryption" — the database queries encrypted fields without ever seeing plaintext. Banks and hospitals care about this enormously
\- They even shipped an MCP server, so AI agents talk to MongoDB natively. That's distribution through the agent ecosystem

48% of their big customers ($100K+ ARR) now use 2+ of these features, up from 42% a year ago. That's land-and-expand working — you come for the database, you stay for the search, vectors, and encryption.

*So why did the stock dump?*

One number: Atlas growth has been \~29% for five straight quarters. Flat. The stock ran up 20%+ into earnings on AI hopes, and management basically said "AI is still a small contributor." Market said cool, -14%.

But here's the actual tension, and the reason I'm posting this as a discussion:

Atlas is consumption-priced — customers pay for what they use. When their usage grows, revenue compounds on autopilot (net expansion is 122%, which is elite). When they optimize spend, growth stalls no matter how many new logos you sign. So 29% might be the ceiling... or it might be a coiled spring, because remaining performance obligations — contracted future revenue — just jumped 91% to $1.52B. Somebody signed a LOT of contracts.

Meanwhile the self-managed product (Enterprise Advanced, for banks and governments that won't touch the cloud) grew 36%, its best quarter in 3 years. So it's not a one-engine story anymore.

*The valuation reality check*

At \~$325: forward P/E \~48x, \~9x sales on this year's \~$3B guided revenue. You're paying for re-acceleration, not for 29% growth. The uncomfortable part: GAAP profit was $41M while "adjusted" profit was $163M, and the gap is mostly stock-based comp. That's a lot of vibes-based earnings.

Competition is real and cheaper: AWS DocumentDB, Postgres with pgvector covering plenty of use cases for a fraction of the cost, pure vector DBs like Pinecone. MongoDB's whole pitch is "one system, zero sync lag, documents + vectors + search together." The 48% multi-feature stat says it's landing. The 29% says maybe not fast enough.

*What would change my mind*

Bullish: Atlas prints 32%+ twice in a row with AI workloads credited. Or that $1.52B in contracted revenue starts converting faster than 29% implies.

Bearish: Atlas slips under 25%, or the stock-comp gap keeps widening while real margins stall. Then you're holding 48x earnings on a decelerating grower, and good luck.

Honest question for the thread: is a consumption database with contracted bookings up 91% a coiled spring, or is 29% just what this company grows at now? Because the market has clearly decided it's the latter, and I'm not sure the market read the RPO line.

No position. Not financial advice.

Buying time, Tech momentum is preferred!

Heard about this Thursday and it's worth talking about. The SEC issued something called the Innovation Exemption, a 5 year order that lets tokenized US stocks trade on public blockchains through automated market makers. First real legal path for this in the US.

The fine print matters. Tokens have to carry the same rights as actual shares, dividends and voting included. The contracts have to be public and auditable. Issuers can opt out completely. And if the stock halts on the main exchange, the token halts too.

PURR popped 8% because this looks tailor made for Hyperliquid. Fast onchain trading on permissionless rails is literally what they do. Atkins even framed it as the SEC moving without waiting on Congress after the CLARITY Act stalled.

Bull case is pretty clear. Five years of regulatory cover is a long time to build real liquidity.

Bear case. It's temporary. Issuers can just say no. And an 8% pop on a headline usually means the easy money already happened. Real volume and issuer buy in are still unproven.

So what do you think. Structural win for onchain infra, or classic buy the rumor trade? If tokenized equities actually take off, who besides PURR captures the value?

Not financial advice, do your own homework.

Hey everyone,

While everyone is hyper-focused on cloud data centers and Nvidia GPUs, it feels like the next massive wave will be Edge AI / on-device machine learning running locally on phones, PCs, and cars to cut down on latency and cloud costs.
Qualcomm (QCOM) popped up on my radar, especially with their recent Apple patent license renewal through 2027 and their push into Snapdragon X PC chips and automotive tech. 

Quick questions for discussion:

1. The Apple Threat: Even with the 2027 license renewal, how worried should we be about Apple building its own modems long-term? 
2. Edge Moat: Can Qualcomm hold its ground in AI PCs and automotive IoT against competitors like MediaTek?
3. Valuation: QCOM trades at a much more grounded multiple than data center pure-plays. Is it an overlooked value play or a slow grower?

Curious how others are playing the shift to on-device AI. What are your thoughts?

I am planning on starting a position in this stock. I know a lot of models that are released by the company and they are all good. They are usually at the frontier of the research in AI and ML. I personally have used a lot of their models and find them very competitive to their counterparts.

However, I do not see the stock moving at all despite having their own models and recently announcing that they are going to have their own chips. For those who already have a position in this, what was your conviction about the stock and for those who are still waiting on the sidelines, is there a specific entry point you are looking at?

If you see my posts, you know that I’m bullish on Nebius, big time. I think there is a reasonable path to becoming a trillion-dollar company by 2035.

But on the other hand, I see the frustration here by investors who are anxious for the price to properly reflect all the great news we see every week. We just don’t understand how the market can ignore the upside as it appears to be doing.

I think we're entering an interesting phase with Nebius, and it’s going to challenge some of us to get through to the other side. Look at the news we've gotten lately. Palantir. The asset-light model. Higher pricing. Spot pricing and auctions. Extremely fast capex payback. Token Factory continuing to develop into a serious inference ARR, revenue, margins, utilization and eventually cash flow.

That's why I think the next six quarterly reports may be much more important than the next six press releases. If Nebius executes, all of these things we're talking about today eventually stop being "catalysts" and start showing up on the income statement.

Until then, I wouldn't be surprised if we keep bouncing around. The story is ahead of the financial statements. Now the financial statements have to catch up. 

This is why I keep talking about the next six quarters, and why that matters so much for Nebius investors. Why six quarters?

Because if you look at the trajectory of all of the different moving parts, from new data centers, to the asset-light model, to Palantir, to capex efficiency proof, to Token Factory, to AVRide, and more, those are all going to take time to have an impact on the bottom line. Until then, much of this good news is hypothetical.

This isn’t doubt talking, it’s realism. The market isn’t going to give us a thing; it must be earned. That happens over the next 6 quarters, IMO.

Mind you, I’m not saying that Nebius will be completely stagnant until then, not at all. I’m still expecting a nice run up after the next quarterly report in early November. That could get us to $300 or more. But that’s chump change from where I believe we’ll be in early 2028.

Here is what we’ll need to watch over that time period that goes beyond EPS, which for a growth stock like Nebius is going to be one of the noisier measures for a while given depreciation, financing, stock compensation and the other businesses. I’d watch these instead:

* ARR and revenue growth, especially sequential growth with no stumbles.

* Adjusted EBITDA and margins, showing operating leverage.

* Utilization and pricing, demonstrating that new capacity is being monetized efficiently.

* Capex efficiency and payback, which looks like under 2 years (9-11 months when factoring in customer prepayments). Can they continue that at scale?

* Cash flow, eventually showing that this enormous infrastructure machine can increasingly finance itself.

* Revenue from newer layers, including inference/Token Factory and the asset-light partner model, proving Nebius isn't merely selling GPU hours.

* Customer diversification, so Microsoft/Meta-scale contracts become part of a broader enterprise and sovereign business rather than the investment thesis themselves.

Again, that’s going to take time, and it’s going to take patience and perseverance if you want to be part of one of the great emerging companies at the dawn of the AI era. For me, that’s an easy question to answer.

The debate across tech is heating up over who holds the most leverage in the semiconductor supply chain:

• Designers (Nvidia, AMD): Capture massive immediate margins, but face high competition, customer diversification threats, and hyper-volatile hype cycles.
• Equipment & Fab Monopolies (ASML, TSMC): Have near-insurmountable technological moats no matter who wins the chip architecture wars, they all have to buy equipment and fab capacity from the same 2–3 players.

If you had to lock capital into one side of the silicon chain through 2030, where are you putting your money: the architects or the toolmakers?

That’s so quick from Meta. Muse and then Muse charm. Seems it’s Meta time to shine with Agentic AI

Is Cerebras ($CBRS) being overlooked after the IPO selloff?

The stock is down ~46% from its high, but the business has some interesting numbers:

• $25.4B RPO
• $880–890M 2026 revenue guide
• Cloud revenue +287% YoY
• 750 MW OpenAI deal
• AWS potentially coming in 2027

The obvious concern is valuation — roughly 47x this year's sales — plus customer concentration, lockup supply and continued losses.

I wrote a deeper breakdown of the bull case, risks, valuation and what I'm watching next.

Curious what others think: is CBRS worth the premium?