About this site

Personal investment research, organized as a map.

Purpose

The AI build-out is one of the largest capital-spending cycles of this generation. Money flows from end-user applications down through cloud, hardware, fabs, power, and raw materials — and at every layer there are distinct businesses, with distinct economics and distinct stocks attached. This site exists to map all of that in one place, layer by layer, in a form that’s readable and durable.

Method

Each layer is treated as its own market. For every layer:

• A short description of what the layer does and where it sits in the value chain.
• Sub-categories that split the layer into distinct sub-markets.
• The notable public and private players in each sub-category.
• (Coming over time) Analysis of moats, unit economics, capital cycle, and stock-specific notes.

Pages with a highlighted “Analysis coming soon” note are scaffolding — the player list is in place but the written analysis hasn’t been done yet.

Conventions

• NVDA — ticker on its primary listing.
• TSM — non-US tickers use the local exchange suffix (e.g., 2382.TW Taiwan, 6857.T Japan, 005930.KS Korea, ASML.AS Amsterdam).
• Private — private company, no direct ticker. Sometimes annotated with the controlling owner.
• A ticker after “(acquired)” means that name now sits inside the noted parent.

Not investment advice

This is a personal research notebook. Nothing here is a recommendation to buy or sell any security. Player lists are illustrative, not exhaustive, and may go out of date as deals close, companies pivot, or new entrants appear.