Miner Company
AI Trade: Short CapEx, Long Profits
AI hyperscalers are ramping up CapEx for 2026, but this risks declining ROIC/ROCE and shifts value capture opportunities to suppliers in the AI value chain. I recommend going long on GPU designers, memory suppliers, foundries, etc.
AI hyperscalers are ramping up CapEx for 2026, but this risks declining ROIC/ROCE and shifts value capture opportunities to suppliers in the AI value chain. I recommend going long on GPU designers, memory suppliers, foundries, etc.