Niche Research

AI infrastructure

Investable, men capex digestion, financing and valuation styrer sizing. Alphabet's USD 84.75bn raise and AVGO's 98/125 watch status both show demand is real but capital intensity is rising.

AI memory / HBM

MU is priority research after primary-source HBM4 and data-center memory signals; no buy without cycle and capex stress work.

Search/AI interface

GOOGL case afhænger af Search resilience, TPU economics, dilution, Cloud backlog conversion og AI monetization.

Data-center power

VRT moves to top screen after Q1 guidance; BE remains rejected for now until contracts, debt, dilution and fuel economics are proven.

Custom AI silicon

Broadcoms AI semiconductor revenue og Q3 guide styrker custom-accelerator/networking kortet; kunde-koncentration og valuation er hovedbarrierer.

Semiconductor IP

ARM tilføjes som AI royalty-layer kandidat; valuation, customer concentration og China risk er hovedspørgsmål.

Financial data moats

SPGI/MCO/EFX/FICO skal testes på pricing, regulation, credit cycle, AI data products og valuation.

AI application layer

NFLX/DUOL/ADBE/CRM kan bruge AI, men monetization og disruption skal bevises fra primærkilder.

Mega private IPOs

SpaceX/OpenAI/Anthropic watch item; verificer filings, index inclusion og access-product struktur før handling.

Prediction markets

Kun sentiment input; liquidity, incentives, manipulation og regulation skal verificeres mod primærkilder.

Obesity drugs

Novo/Eli Lilly theme; Novo er watchlist follow-up.