Maximilian Heitsch
Maximilian Heitsch
Germany
1mo
We are living through a once-in-a-generation AI supercycle. And most people still think it’s “just Nvidia.” The reality is that AI moves in waves. Not because markets follow some clean checklist… but because every wave creates a new bottleneck. And bottlenecks are where the money usually gets made. First compute becomes scarce. Then memory. Then networking. Then power. Then physical deployment. That’s the pattern. Phase 1 was semis. That move already happened: NVDA AMD ARM TSM AVGO GPUs became the oil rigs of the digital economy. Then came memory + photonics. AI doesn’t just need compute. It needs to store and move absurd amounts of data. That’s where names like: MU SNDK WDC AAOI LITE MRVL CRDO AEHR started accelerating. HBM sold out. NAND pricing exploded. Photonics became critical because electricity alone can’t move data fast enough anymore. Now we’re moving deeper into AI infrastructure. The actual compute layer underneath AI. IREN NBIS CRWV CIFR APLD This is where hyperscaler demand, sovereign AI and inference all collide. And most infrastructure still hasn’t even been built yet. Then the bottlenecks move again: power cooling raw materials Because AI data centers are basically industrial power plants with GPUs inside them. That’s where: VRT CEG OKLO OSS MP FCX UUUU start becoming critical. And eventually this all converges into physical AI. Once intelligence becomes cheap and abundant… the next step is giving it agency in the real world. Robots. Autonomous systems. Factories that think. TSLA 6954.T 6506.T ABBN.ZU SERV PATH And after that? I think the next conversations become: space drones autonomous defense systems but that’s probably a topic for another post. The important thing: these waves overlap. Markets are messy. Nvidia can still run while memory accelerates. Photonics can scale while cloud infrastructure ramps. Robotics can emerge while semis are still booming. But the direction of the cycle still matters. Because capital keeps flowing toward the next constraint. And right now… most of those constraints still look unresolved. That’s why I’m still heavily focused on AI infrastructure, semis, memory, networking and photonics in my own portfolio. +43% in April. +17% already in May. +97% YTD. That didn’t come from randomly chasing hype. It came from trying to identify bottlenecks early. And I think this cycle still has multiple waves left. Save this post and revisit it later. — I’m putting together a small private group of ~50 high-quality eToro investors. If you want in, visit my X account (link on eToro profile). I posted a link to the waitlist there. Once we reach 50 waitlist entries, it will be closed and the Telegram group will be opened. This is not investment advice, for education purposes only | Capital at risk | Past performance does not guarantee future results
Not investment advice. The author may have financial interests in the mentioned instruments.
1 reply
null
.