AI-Era Investment Research Beyond the Magnificent 7.
Regular, independent, actionable insights on AI-exposed and future-defining companies.
Next Arc Research is a company analysis platform that applies a future-optimistic investing lens to the AI-driven transformation of the global economy. It’s built to help you identify which public companies are best positioned to capture the next wave of value creation over the coming 5 years. See the FAQ.
Grounded in my own investing thesis and AI expertise, Next Arc Research leverages advanced reasoning models and extensive web research to evaluate companies through qualitative and quantitative signals of long-term potential. The framework is inspired by Emad Mostaque's "The Last Economy" thesis — the view that we’re entering a phase of unprecedented technological acceleration that will redefine how value emerges across industries.
Disclosure: I hold long positions in most of the companies I analyze on this platform. The detail page of any company will be specific as to whether I hold that company. My allocation to any particular company varies based on implied growth, risk and other factors. This is not investment advice and I am not paid to promote any company.
My analysis combines the latest AI reasoning models with real-time web search to evaluate companies across multiple dimensions:
My AI modeling performs extensive web research, analyzing recent news, earnings reports, clinical trial data, competitive developments, and market trends to provide up-to-date assessments.
I analyze a curated selection of public companies with significant exposure to transformative technology trends. My coverage includes:
Currently covering 120 symbols:
AAOI Applied Optoelectronics, Inc. Applied Optoelectronics designs and manufactures optical transceivers and HFC/CATV broadband networking products sold to tier-one cloud, cable, telecom, and FTTH customers. ACHR Archer Aviation Inc. Archer is developing the Midnight electric vertical takeoff-and-landing aircraft for regulated air-taxi and defense-adjacent use cases. AI C3.ai, Inc. C3 AI sells enterprise AI application software and an underlying platform to build, deploy, and operate AI applications for commercial and government customers. AISP Airship AI Holdings, Inc. Airship AI provides on-prem and edge-deployed video/sensor ingest, analytics, and permissioned management software for mission-critical public-safety and enterprise security workflows. ALAB Astera Labs, Inc. Astera Labs designs high-speed connectivity semiconductors (with embedded management software) used in cloud and AI infrastructure. AMBA Ambarella, Inc. Ambarella designs low-power edge AI computer-vision semiconductors used in security cameras, robotics/drones, edge infrastructure, and automotive vision systems. AMD Advanced Micro Devices, Inc. AMD designs and sells CPUs, GPUs/AI accelerators, and adaptive computing chips plus software for data centers, PCs, gaming, and embedded markets. AMPX Amprius Technologies, Inc. Amprius manufactures high-energy, high-power silicon-anode lithium-ion battery cells primarily for aerospace, defense, and mobility applications. AMZN Amazon.com, Inc. Amazon operates a global e-commerce and logistics platform, sells seller/advertising/subscription services, and provides cloud infrastructure and AI services via AWS. ANET Arista Networks, Inc. Arista Networks designs Ethernet switching/routing platforms and a programmable network software stack used in AI/data center, campus, and routing networks. APLD Applied Digital Corporation Applied Digital designs, develops, and operates high-density data centers and colocation/hosting infrastructure for AI/HPC and other compute workloads in North America. APP AppLovin Corporation AppLovin runs a performance advertising marketplace and in-app monetization software connecting advertisers with mobile app publishers. APUS Apimeds Pharmaceuticals US, Inc. Clinical-stage biotech developing LT-100 (Apitox) for osteoarthritis pain, with a post-merger digital-asset treasury/yield strategy via MindWave. ARM Arm Holdings plc Arm designs and licenses CPU architecture and related processor/system IP, earning license fees and per-unit royalties as partners ship Arm-based chips. ASML ASML Holding N.V. ASML designs and manufactures advanced lithography systems plus software and services used to mass-produce semiconductor chips. ASTS AST SpaceMobile, Inc. AST SpaceMobile is building a low-Earth-orbit satellite constellation to deliver cellular broadband directly to standard smartphones via wholesale agreements with mobile operators and government users. AUR Aurora Innovation, Inc. Aurora develops a self-driving system for Class 8 trucking and aims to sell autonomous haulage as a per-mile, driverless service delivered via OEM and carrier partners. AVAV AeroVironment, Inc. Designs and manufactures uncrewed aircraft and precision-strike systems plus counter-drone and directed-energy adjacent capabilities for U.S. and allied government customers. AVGO Broadcom Inc. Broadcom designs semiconductor and infrastructure software products used across AI data centers, networking, broadband, wireless, storage, and enterprise IT. BBAI BigBear.ai Holdings, Inc. BigBear.ai provides AI-powered decision intelligence software and services primarily to U.S. federal defense, intelligence, and homeland security customers. BEAM Beam Therapeutics Inc. Clinical-stage biotech developing precision gene-editing medicines, with lead programs targeting liver genetic disease and hematology. BFLY Butterfly Network, Inc. Butterfly Network sells handheld ultrasound probes plus cloud software subscriptions and services to clinicians and health systems. BKSY BlackSky Technology Inc. BlackSky sells high-frequency satellite imagery, monitoring, and analytics to government and commercial customers via a vertically integrated constellation and software delivery stack. BWXT BWX Technologies, Inc. BWXT manufactures nuclear reactor components and fuel and provides nuclear services for U.S. government and commercial customers, with added exposure to nuclear medicine and advanced reactor programs. CDNS CADENCE DESIGN SYSTEMS, INC. Cadence licenses EDA software, sells/leases verification hardware, and licenses semiconductor IP used to design and verify chips and electronic systems. CEG Constellation Energy Corporation Constellation generates electricity (nuclear and other sources) and sells power, natural gas, and energy solutions to U.S. retail and commercial customers. CLS Celestica Inc. Celestica provides engineering-led electronics manufacturing and supply chain services, with major exposure to AI-era data-center networking and compute platforms plus aerospace/defense and industrial end markets. COHR Coherent Corp. Coherent manufactures photonics products spanning AI/datacom optical interconnect (transceivers, components) and industrial lasers, optics, and materials. COIN Coinbase Global, Inc. Coinbase operates a regulated crypto trading and safeguarding platform for consumers and institutions and provides onchain infrastructure products for developers. CORZ Core Scientific, Inc. Core Scientific operates high-power U.S. data center sites for high-density colocation (AI/HPC) and runs/hosts bitcoin mining workloads. CRDO Credo Technology Group Holding Ltd Credo designs high-speed copper and optical interconnect products and licenses connectivity IP used in hyperscale AI/data-center networks. CRM Salesforce, Inc. Salesforce sells subscription cloud software for customer relationship management and related enterprise workflows (sales, service, analytics, integration, and collaboration). CRNC Cerence Inc. Cerence builds embedded voice and multimodal assistant software plus cloud-connected services that automakers integrate into vehicle programs as white-label experiences. CRSP CRISPR Therapeutics AG CRISPR Therapeutics develops gene-based medicines using CRISPR gene editing, spanning commercial hemoglobinopathy therapy economics and a pipeline of in vivo and cell-based programs. CRWD CrowdStrike Holdings, Inc. CrowdStrike provides cloud-delivered cybersecurity software and services via the Falcon platform, protecting endpoints, cloud workloads, identities, and data. CRWV CoreWeave, Inc. Provides GPU-accelerated cloud infrastructure and managed platform services for AI training and inference workloads. DDOG Datadog, Inc. Datadog sells a cloud-based observability and security platform that collects and correlates production telemetry (metrics, logs, traces, and security signals) across customer stacks. DELL Dell Technologies Inc. Dell Technologies designs and sells PCs, servers, storage, networking and related services/financing to commercial, public-sector and consumer customers. DNA GINKGO BIOWORKS HOLDINGS, INC. Provides cell-engineering R&D services, lab automation deployments, data-generation offerings, and biosecurity monitoring to commercial and government customers. EQIX Equinix, Inc. Equinix operates global data centers and sells colocation plus private interconnection services to enterprises, networks and cloud providers. ESTC Elastic N.V. Elastic sells subscriptions and a managed cloud service for search, observability, and security analytics on enterprise data. ETN Eaton Corporation plc Eaton manufactures power-management and electrical infrastructure products plus aerospace systems for data centers, utilities, industry, buildings, and mobility end markets. FIVN Five9, Inc. Five9 provides a cloud-based contact-center platform that helps enterprises run and automate customer interactions across voice and digital channels. FLNC Fluence Energy, Inc. Fluence sells utility-scale battery energy storage systems and provides related operational services and optimization software to grid asset owners. FN Fabrinet Fabrinet provides advanced optical packaging and precision manufacturing/assembly/test services for OEMs building complex optical and electro-mechanical products. GOOG Alphabet Inc. Alphabet (Google) monetizes global consumer intent via ads and subscriptions and sells cloud/AI infrastructure and software to enterprises. HPE Hewlett Packard Enterprise Company HPE sells enterprise servers, storage, and networking plus hybrid-cloud consumption offerings (GreenLake) and related lifecycle/financial services. HURA TuHURA Biosciences, Inc. Clinical-stage immuno-oncology company developing therapies intended to overcome resistance to checkpoint inhibitors in cancer. HUT Hut 8 Corp. Hut 8 is a power-first digital infrastructure operator developing AI data center capacity while running bitcoin-linked compute and energy assets. INOD Innodata Inc. Innodata provides AI data engineering, data preparation/annotation, and related workflow software used by large tech, enterprise, and government customers to build and run AI systems. IONQ IonQ, Inc. IonQ develops trapped-ion quantum computing systems and sells quantum compute access plus related networking/sensing/security offerings to enterprise, government, and cloud-channel customers. IREN IREN Limited IREN develops and operates power-dense data centers, monetizing energy-constrained compute via AI GPU cloud services and Bitcoin mining. JBL Jabil Inc. Jabil provides engineering, manufacturing, and supply-chain services for OEMs, with growing exposure to AI/data-center infrastructure systems and power management. JOBY Joby Aviation, Inc. Joby develops an all-electric eVTOL aircraft and plans to operate and/or enable air-taxi services plus related aviation services. KTOS Kratos Defense & Security Solutions, Inc. Kratos designs and produces defense products and provides related services and software for U.S. government, international government, and commercial customers. LITE Lumentum Holdings Inc. Lumentum designs and manufactures optical and photonic components and systems (including lasers) for data-center/telecom networking, industrial manufacturing, and sensing. LMND Lemonade, Inc. Lemonade is a digitally native insurance carrier selling renters, homeowners, pet, car, and life insurance primarily via direct-to-consumer channels. LSCC Lattice Semiconductor Corporation Designs and sells low-power programmable logic devices plus related software/IP for OEM systems across communications, computing, industrial, automotive, and consumer end markets. MBLY Mobileye Global Inc. Mobileye supplies camera-first ADAS and autonomy systems (EyeQ compute plus software) to global automakers and Tier-1 suppliers. META Meta Platforms, Inc. Meta operates large consumer social and messaging apps monetized primarily through advertising, plus VR/wearables and related software via Reality Labs. MPWR Monolithic Power Systems, Inc. Designs and sells high-performance power management semiconductors and modules used in computing, data center, automotive, industrial, communications, and consumer electronics. MRVL Marvell Technology, Inc. Marvell designs fabless semiconductors for data-center, enterprise, and carrier infrastructure, spanning custom silicon, switching, and high-speed connectivity. MSFT MICROSOFT CORPORATION Microsoft builds and sells productivity software, cloud infrastructure/services, and related platforms for consumers and enterprises. MSTR Strategy Inc Strategy holds bitcoin as its primary treasury reserve asset, funds further accumulation via public-market issuance, and also sells enterprise analytics software and services. MTSI MACOM Technology Solutions Holdings, Inc. MACOM designs and manufactures high-performance analog, RF, and optical semiconductors for data center, industrial & defense, and telecom markets. MU Micron Technology, Inc. Micron designs, manufactures, and sells memory and storage products used across data center, PC, mobile, automotive, and industrial markets. NBIS Nebius Group N.V. Nebius operates an AI-focused cloud platform selling GPU compute and related infrastructure services to developers and enterprises. NEE NextEra Energy, Inc. NextEra Energy owns Florida Power & Light (a regulated Florida electric utility) and a large U.S. energy infrastructure developer (renewables, storage and transmission). NET Cloudflare, Inc. Cloudflare provides cloud-delivered security, performance, and networking services delivered from a global edge network in front of customer applications and networks. NNOX Nano-X Imaging Ltd Nanox develops 3D X-ray imaging systems and sells attached cloud software, AI, and remote radiology services to imaging providers. NOW ServiceNow, Inc. ServiceNow provides a cloud software platform for enterprises to digitize and automate workflows across IT, employee, customer, and security operations. NTAP NetApp, Inc. NetApp sells enterprise storage systems, data management software, and cloud/support services for hybrid and public-cloud environments. NTLA Intellia Therapeutics, Inc. Clinical-stage biotech developing in vivo and ex vivo CRISPR/Cas9 gene-editing therapies, led by lonvo-z (HAE) and nex-z (ATTR). NTRA Natera, Inc. Provides cell-free DNA–based genetic and molecular testing services across oncology, women’s health, and organ health. NVDA NVIDIA Corporation NVIDIA designs accelerated computing platforms (GPUs, CPUs, networking and software) used across AI data centers, gaming, pro visualization and automotive/robotics. OKLO Oklo Inc. Oklo is developing advanced nuclear fission power plants plus adjacent fuel and radioisotope initiatives aimed at delivering clean, firm electricity for large-load customers. ON ON Semiconductor Corporation onsemi designs and manufactures power and sensing semiconductors, with a focus on automotive, industrial, and AI data center power applications. ORCL Oracle Corporation Oracle sells cloud infrastructure, database software, and enterprise application suites with long-term support and related services. OUST Ouster, Inc. Ouster sells lidar sensors and software used for perception in automotive, industrial automation, robotics, and smart infrastructure. PANW Palo Alto Networks, Inc. Enterprise cybersecurity vendor offering network, cloud, and security-operations platforms delivered via hardware plus predominantly subscription/support revenue, largely sold through channel partners. PATH UiPath, Inc. UiPath sells an enterprise automation platform to build, run, and govern software robots and AI agents across business applications. PDYN Palladyne AI Corp. Palladyne AI develops edge-deployed autonomy software for robotic and unmanned systems and, after recent acquisitions, also delivers defense-focused avionics, engineering services, and precision-manufactured components. PL Planet Labs PBC Planet designs, builds, and operates Earth-observation satellites and sells frequent-revisit imagery plus monitoring solutions to government and commercial customers. PLTR Palantir Technologies Inc. Palantir sells subscription software used by governments and enterprises to integrate data and run operational workflows across cloud, on‑prem, and edge environments. POET POET Technologies Inc. POET Technologies designs photonic integration products (optical engines, light sources, and optical modules) targeting AI networking and hyperscale data centers. PRME Prime Medicine, Inc. Prime Medicine develops prime-editing gene editing therapies and related delivery systems for genetic diseases. PWR Quanta Services, Inc. Quanta Services is a specialty contractor providing design, construction, repair and maintenance for electric power, communications, pipeline and related critical infrastructure. QBTS D-Wave Quantum Inc. Develops and delivers quantum computing systems and cloud-accessible quantum and hybrid solvers, plus related services, for commercial, government, and research customers. QUBT Quantum Computing Inc. Quantum Computing builds integrated photonics and quantum-optics hardware plus related services, including a thin-film lithium niobate photonic chip foundry and early-stage quantum/optimization offerings. RCAT Red Cat Holdings, Inc. Red Cat develops and sells compliant small unmanned aircraft systems and related command-and-control solutions for defense, government, and public safety customers. RDVT Red Violet, Inc. Provides cloud-based identity intelligence (IDI/idiCORE/FOREWARN) used for identity verification, fraud/risk mitigation, due diligence, and compliance workflows. RGTI Rigetti Computing, Inc. Rigetti builds superconducting quantum computing hardware and provides cloud access plus customer-site installed systems for government, research, and enterprise users. RIOT Riot Platforms, Inc. Riot operates Bitcoin mining and is converting power-dense Texas sites into leased data-center capacity for AI and high-performance computing customers, plus an electrical engineering products/services segment. RKLB Rocket Lab Corporation Rocket Lab provides launch services and designs/manufactures spacecraft and satellite components for commercial, government, and national security customers. RLAY Relay Therapeutics, Inc. Clinical-stage biotech developing small-molecule therapies for cancer and genetic disease using its Dynamo computational+experimental discovery platform. RMBS Rambus Inc. Rambus designs memory-interface chips and licenses interface and security silicon IP used in data center and AI-focused computing systems. RR RICHTECH ROBOTICS INC. Develops and sells or leases commercial and industrial robots (including Robots-as-a-Service contracts) for hospitality, retail, and manufacturing customers. RXRX Recursion Pharmaceuticals, Inc. Recursion is a clinical-stage TechBio company combining automated wet-lab experimentation and machine learning to discover and develop drugs and run biopharma collaborations. S SentinelOne, Inc. SentinelOne sells a subscription cybersecurity platform that helps enterprises prevent, detect, and respond to threats across endpoints and cloud environments. SDGR Schrödinger, Inc. Schrödinger develops computational molecular modeling software for drug discovery and materials science and also earns revenue from drug-discovery collaborations and internal programs. SERV Serve Robotics Inc. Serve Robotics designs and operates autonomous sidewalk delivery robots and related fleet/autonomy software, expanding into hospital service robots via acquisitions. SITM SiTime Corporation SiTime designs and sells MEMS-based precision timing products (oscillators, clock ICs, resonators) used across datacenter/comms, automotive, industrial and other electronics markets. SMCI Super Micro Computer, Inc. Supermicro designs and manufactures AI-optimized servers, rack-scale data center systems, storage/networking, and related software/support services. SMR NuScale Power Corporation NuScale develops and licenses small modular nuclear reactor technology and provides engineering and project services to utilities, governments, and industrial customers. SNOW Snowflake Inc. Snowflake provides a cloud-native data platform for storing, processing, governing, and sharing enterprise data with primarily consumption-based pricing. SNPS Synopsys, Inc. Synopsys provides electronic design automation (EDA) software, semiconductor IP, and system simulation/analysis tools used to design and validate chips and complex electronic systems. SOUN SoundHound AI, Inc. SoundHound AI sells enterprise voice and conversational AI software that brands embed into restaurant ordering, customer service, and automotive/smart-device experiences. SPIR Spire Global, Inc. Spire Global sells subscription satellite-data products (weather/climate and RF sensing) and provides satellite manufacturing/operations services to government and commercial customers. STEM Stem, Inc. Provides software, edge hardware, and services to monitor, control, and optimize solar, storage, and hybrid power assets. SYM Symbotic Inc. Designs and deploys automated warehouse systems (robots, storage structure, and software) for large retailers and distributors. TEM Tempus AI, Inc. Tempus provides genetic testing to providers and licenses de-identified clinical/molecular data plus related trial and AI-application services to life-sciences customers. TLN Talen Energy Corporation Independent power producer selling electricity, capacity, and ancillary services, anchored by Susquehanna nuclear and a PJM-weighted dispatchable fleet. TSLA Tesla, Inc. Tesla designs and manufactures electric vehicles and sells energy generation/storage systems plus related software and services. TSM Taiwan Semiconductor Manufacturing Company Limited TSMC is the leading pure-play foundry, manufacturing advanced and mature semiconductors (and related packaging/services) for fabless and integrated chip designers. TWST Twist Bioscience Corporation Twist Bioscience manufactures synthetic DNA products (genes, oligo pools, libraries) and adjacent NGS workflow and protein/antibody solutions via direct sales and e-commerce ordering. VICR Vicor Corporation Vicor designs and manufactures high-density power conversion modules and power systems, and monetizes related IP via licensing/royalties across compute, industrial, and defense end markets. VRT Vertiv Holdings Co Vertiv designs, manufactures, and services power, thermal, rack, and monitoring infrastructure used in data centers and other critical facilities. VST Vistra Corp. Vistra owns and operates competitive power generation (notably nuclear and gas) and sells electricity/natural gas to retail customers across deregulated U.S. markets. WULF TeraWulf Inc. TeraWulf develops, owns, and operates U.S. power-advantaged data center infrastructure for AI-focused hosting and bitcoin mining. ZS Zscaler, Inc. Zscaler sells cloud-delivered security subscriptions that route and inspect enterprise traffic to enforce identity- and policy-based access to the internet, SaaS, and private applications.
Note: Availability of analysis for each symbol is subject to your Patreon tier membership level.
You can support this project (to fund deeper and more frequent research across a broader set of companies) through joining as a Patreon member. Three different tiers provide different benefits depending on your goals. See below for samples of the analysis at different levels:
While you are subscribed at a particular tier on Patreon, you will have access to the Next Arc Research website where you will be able to browse the analysis of each company covered by that tier.
Note that "Top 10" etc. is based on the companies' implied growth through 2030 ranking when the analysis is performed, i.e. the 10/30/100 companies with the highest implied growth.
These analyses are updated on a weekly basis around the 7th, 14th, 21st and 28th day of each month. If there are meaningful events in the market (e.g. earning season) then updates may be delayed to the end of the week.
Here are some practical ways people often use this kind of research inside their own workflow — purely as examples tied to the features of the platform, and not as recommendations or investment advice:
None of this is investment advice. Everyone’s financial situation, risk tolerance, and goals are different, so please consult a licensed financial adviser before making any investment decisions.
The Next Arc Research framework is inspired by Emad Mostaque's "The Last Economy" thesis on the transformative impact of AI and exponential technologies. Rather than extrapolating from historical trends, I analyze how companies are positioned to capture value in a world where AI dramatically accelerates innovation, reduces costs, and enables new business models.
This platform leverages the latest AI reasoning models. Each model performs real-time web research and multi-step reasoning to produce comprehensive analyses that go beyond traditional financial metrics; all through a lens of a tech-optimistic future.
I've spent 30+ years working and investing in tech. I worked at Netscape, Yahoo!, Google and many startups in Silicon Valley - most recently in AI and LLM technology.
As a retail investor I invested in Bank of America during the 2008 Great Recession, Amazon before they got big and NVIDIA when they still focused on gaming. These investments allowed me to quit regular work and spend some time on Next Arc Research to find the next companies that are going to drive outsized returns in our tech-optimistic future. I resolved that anything I developed would be made available to others.
While I am hopeful for a tech-optimistic future of abundance for all, I also believe that the surest way to guard against being cut out of that future is to own a part of it.
Please reach out via my Patreon.
Explore these free resources to get a sense of the analysis and insights available: