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. AOI designs and manufactures optical networking products (notably high-speed data-center transceivers) and HFC broadband access gear. ACHR Archer Aviation Inc. Archer is developing eVTOL aircraft and a supporting commercial/defense ecosystem spanning manufacturing, operations, and infrastructure. AI C3.ai, Inc. C3.ai provides enterprise AI software (a platform plus packaged applications) used to build, deploy, and operate AI systems for commercial and government customers. AISP Airship AI Holdings, Inc. Provides an edge-to-cloud AI video, sensor, and data-management surveillance platform sold mainly into U.S. public-safety and federal agencies. ALAB Astera Labs, Inc. Astera Labs designs connectivity semiconductors and modules used to move data reliably inside AI and cloud servers and racks. AMBA Ambarella, Inc. Ambarella designs edge computer-vision chips that combine video processing and on-device AI for security, automotive, and robotics cameras. AMD Advanced Micro Devices, Inc. AMD designs and sells CPUs, GPUs, and adaptive computing chips for data centers, PCs, gaming, and embedded end markets. AMPX Amprius Technologies, Inc. Amprius develops and sells high-energy-density silicon-anode lithium-ion battery cells for drones, aerospace/defense, and other mobility uses. AMZN Amazon.com, Inc. Amazon operates a global online commerce and logistics platform and a hyperscale cloud and advertising business. ANET Arista Networks, Inc. Designs and sells high-performance Ethernet switching/routing platforms plus network software and subscriptions for cloud/AI data centers and enterprise campus/WAN networks. APLD Applied Digital Corporation Applied Digital designs, builds, and operates power-intensive data centers and colocation/hosting services for AI/HPC, cloud, and blockchain workloads. APP AppLovin Corporation AppLovin operates a performance advertising platform and app monetization marketplace that matches advertiser demand with publisher supply using automated optimization. APUS Apimeds Pharmaceuticals US, Inc. Clinical-stage biopharma developing Apitox for knee osteoarthritis and, post-MindWave, pursuing bitcoin-treasury governance/infrastructure and related digital-asset services. ARM Arm Holdings plc Arm designs and licenses CPU architectures and related semiconductor IP, earning upfront license fees and per-chip royalties. ASML ASML Holding N.V. ASML designs, manufactures and services advanced lithography systems (plus software and services) used to pattern chips on silicon wafers. ASTS AST SpaceMobile, Inc. AST SpaceMobile is building a low-earth-orbit satellite network that connects standard smartphones outside terrestrial coverage via carrier partnerships. AUR Aurora Innovation, Inc. Aurora develops and commercializes a self-driving system for heavy-duty trucking and related autonomy services. AVAV AeroVironment, Inc. Designs and manufactures uncrewed systems, precision-strike products, counter-drone solutions, and related services primarily for U.S. DoD and allied governments. AVGO Broadcom Inc. Broadcom designs semiconductors (AI accelerators and networking) and sells infrastructure software subscriptions (VMware) for enterprise and cloud workloads. BBAI BigBear.ai Holdings, Inc. Provides AI-enabled analytics software and services for defense, national security, and adjacent regulated enterprise workflows. BEAM Beam Therapeutics Inc. Beam Therapeutics is a clinical-stage biotechnology company developing precision genetic medicines using base editing, spanning in vivo liver programs and ex vivo hematology programs. BFLY Butterfly Network, Inc. Butterfly develops handheld ultrasound probes and cloud software used to capture, manage, and operationalize point-of-care medical imaging. BKSY BlackSky Technology Inc. BlackSky sells subscription access to satellite imagery plus software analytics for time-sensitive monitoring and intelligence workflows. BWXT BWX Technologies, Inc. BWXT manufactures nuclear components and fuel and provides nuclear services for U.S. government, commercial nuclear, and medical customers. CDNS Cadence Design Systems, Inc. Cadence provides electronic design automation (EDA) software, semiconductor IP, and verification hardware used to design and validate chips and complex electronic systems. CEG Constellation Energy Corporation Constellation generates electricity (led by nuclear plus dispatchable generation) and sells power and energy solutions to wholesale and retail customers across the U.S. CLS Celestica Inc. Celestica provides design, manufacturing, and supply-chain services for high-complexity electronics, with fast-growing exposure to hyperscaler AI data-center networking and compute hardware. COHR Coherent Corp. Coherent designs and manufactures photonics components/systems (notably datacenter optical interconnect) and industrial laser products, with a smaller silicon carbide materials exposure. COIN Coinbase Global, Inc. Coinbase operates a crypto trading platform and provides custody, staking, derivatives access, and subscription/onchain infrastructure services. CORZ Core Scientific, Inc. Core Scientific operates high-power data center campuses that provide high-density colocation for AI/HPC customers and bitcoin mining/hosting services. CRDO Credo Technology Group Holding Ltd Fabless semiconductor company selling high-speed connectivity ICs, IP licensing, and active electrical cables primarily into hyperscale data-center and AI networking. CRM Salesforce, Inc. Salesforce sells enterprise cloud software for customer relationship management across sales, service, marketing, commerce, analytics, and collaboration workflows. CRNC Cerence Inc. Cerence provides embedded in-vehicle voice assistant and conversational AI software plus connected services to global automakers and automotive suppliers. CRSP CRISPR THERAPEUTICS AG Develops CRISPR/Cas9 gene-edited medicines, with commercial participation in CASGEVY and a wholly-owned in vivo liver-editing pipeline. CRWD CrowdStrike Holdings, Inc. CrowdStrike sells subscription-based, cloud-delivered cybersecurity software and services to protect endpoints, cloud workloads, identity, and data. CRWV CoreWeave, Inc. Provides GPU-accelerated cloud infrastructure and managed services for AI training and inference workloads. DDOG Datadog, Inc. Datadog provides a SaaS platform for observability and security monitoring across cloud applications and infrastructure. DELL Dell Technologies Inc. Dell sells enterprise servers/storage/networking, PCs, and related support plus customer financing. DNA Ginkgo Bioworks Holdings, Inc. Ginkgo Bioworks provides cell engineering R&D solutions and biosecurity services, alongside emerging tools/data products that productize automated lab workflows. EQIX Equinix, Inc. Equinix operates carrier-neutral data centers and interconnection services that let enterprises, clouds, and networks colocate and connect in key metros worldwide. ESTC Elastic N.V. Provides a unified search-and-analytics software platform delivered as Elastic Cloud and self-managed subscriptions for enterprise search, reliability monitoring, and security analytics. ETN Eaton Corporation plc Eaton manufactures power management products and engineered systems across electrical infrastructure, aerospace, and mobility end markets. FIVN Five9, Inc. Five9 provides cloud software for enterprise contact centers, spanning voice/digital routing, agent tools, automation, and AI-driven self-service. FLNC Fluence Energy, Inc. Fluence designs, integrates, and services grid-scale battery storage systems plus optimization software for asset owners. FN Fabrinet Fabrinet is a contract manufacturer specializing in high-precision optical and electro-mechanical modules, providing packaging, assembly, and test services to OEMs. GOOG Alphabet Inc. Alphabet operates Google’s consumer internet platforms (Search, YouTube, Android, Chrome) and sells advertising, cloud infrastructure/software, and subscriptions/devices. HPE Hewlett Packard Enterprise Company HPE sells enterprise servers, storage, networking and hybrid-cloud consumption/services to commercial and public-sector customers. HURA TuHURA Biosciences, Inc. Clinical-stage immuno-oncology company developing IFx-2.0 and other candidates intended to improve responses to checkpoint inhibitor therapy. HUT Hut 8 Corp. Hut 8 develops and operates power, data center, and compute infrastructure across North America, spanning Bitcoin-mining-linked operations and contracted AI/HPC capacity. INOD Innodata Inc. Provides AI data engineering/training-data services plus PR intelligence software, serving large tech, enterprises, and U.S. government customers. IONQ IonQ, Inc. IonQ sells trapped-ion quantum computing systems, cloud access to quantum compute, and quantum networking/security products and services to commercial and government customers. IREN IREN Limited IREN owns and operates grid-connected data centers and compute hardware used for Bitcoin mining and AI cloud GPU computing. JBL Jabil Inc. Jabil is a global contract manufacturer providing design, engineering, manufacturing, and supply-chain services across AI/data-center infrastructure, regulated end markets, and consumer/commerce programs. JOBY Joby Aviation, Inc. Joby develops piloted electric vertical takeoff and landing (eVTOL) aircraft and plans to operate and enable short-distance air taxi services while also selling aircraft and related services. KTOS Kratos Defense & Security Solutions, Inc. Designs and manufactures unmanned systems, hypersonics/test infrastructure, defense electronics, and space/satellite ground systems primarily for U.S. and allied government customers. LITE Lumentum Holdings Inc. Lumentum designs and manufactures photonic components, modules and subsystems for cloud/data-center and telecom networks, plus industrial and sensing lasers. LMND Lemonade, Inc. Digital-first insurer offering renters, homeowners, pet, car, and life insurance in the U.S. and parts of Europe. LSCC Lattice Semiconductor Corporation Lattice designs low-power field-programmable gate arrays and related software/solution stacks for embedded connectivity, control, vision, and security use cases. MBLY Mobileye Global Inc. Mobileye sells camera-centric ADAS and autonomous driving compute and software (EyeQ SoCs and higher-level systems) to automakers and Tier-1 suppliers. META Meta Platforms, Inc. Meta operates global social and messaging apps monetized primarily via digital advertising, and also builds VR/AR hardware and software. MPWR Monolithic Power Systems, Inc. Monolithic Power Systems designs and sells power-management semiconductors and modules used in data center/computing, automotive, industrial, communications, and consumer end markets. MRVL Marvell Technology, Inc. Marvell is a fabless semiconductor company focused on data infrastructure silicon, with growing exposure to hyperscale AI connectivity via custom silicon, optical interconnect, and switching. MSFT Microsoft Corporation Microsoft sells hyperscale cloud infrastructure plus software subscriptions, platforms, and devices to enterprises and consumers. MSTR Strategy Inc Strategy sells enterprise analytics software and runs a bitcoin treasury/capital markets program funded via ongoing security issuance. MTSI MACOM Technology Solutions Holdings, Inc. MACOM designs and manufactures analog/RF and optical semiconductor components used in AI data centers, telecom networks, and defense/industrial systems. MU Micron Technology, Inc. Micron designs and manufactures memory and storage semiconductors (DRAM, NAND, NOR, and data-center SSDs) for cloud, client, mobile, automotive, and embedded markets. NBIS Nebius Group N.V. Nebius builds an AI-focused cloud platform offering GPU compute, storage, and managed services for AI training and inference. NEE NextEra Energy, Inc. Electric utility holding company combining a regulated Florida utility (FPL) with a large contracted renewables, storage and energy-infrastructure development platform (NEER). NET Cloudflare, Inc. Cloudflare operates a global edge network delivering application security, performance, and developer services as an inline control plane for Internet traffic. NNOX Nano-X Imaging Ltd Nanox develops digital tomosynthesis X-ray systems and sells associated cloud software, AI tools, and radiology/health-IT services. NOW ServiceNow, Inc. ServiceNow provides a cloud software platform that automates and governs enterprise workflows across IT, employee, customer, and security operations. NTAP NetApp, Inc. NetApp provides enterprise storage systems, data management software, and services for on-prem and hybrid multi-cloud data infrastructure. NTLA Intellia Therapeutics, Inc. Intellia Therapeutics is a clinical-stage biotech developing in vivo gene-editing therapies for genetic diseases, led by programs in hereditary angioedema and transthyretin amyloidosis. NTRA Natera, Inc. Natera provides cell-free DNA (cfDNA) molecular diagnostics across oncology, women’s health, and organ health. NVDA NVIDIA Corporation NVIDIA designs GPUs and full-stack accelerated computing platforms (systems, networking and software) for AI, data centers and graphics. OKLO Oklo Inc. Oklo is developing small advanced nuclear power plants and adjacent fuel and specialty nuclear production capabilities for large energy users. ON ON Semiconductor Corporation Designs and manufactures power, analog/mixed-signal, and intelligent sensing semiconductors focused on automotive and industrial end markets. ORCL Oracle Corporation Oracle sells enterprise database software, cloud infrastructure, and cloud applications to businesses and public-sector customers. OUST Ouster, Inc. Ouster designs and sells digital lidar sensors and perception software used in robotics, industrial automation, smart infrastructure, automotive, and defense applications. PANW Palo Alto Networks, Inc. Cybersecurity platform vendor providing network, cloud, and security operations products plus subscription/support services, sold primarily through channel partners. PATH UiPath, Inc. UiPath sells enterprise automation software to build, run, and govern robotic and agentic workflows across business applications. PDYN Palladyne AI Corp. Palladyne AI provides edge autonomy software for robotic systems and also sells defense/industrial capabilities including avionics, UAV-related systems, precision-manufactured components, and aerospace engineering services. PL Planet Labs PBC Operates Earth-observation satellite constellations and sells imagery, data subscriptions, analytics, and delivered satellite-services capabilities to government and commercial customers. PLTR Palantir Technologies Inc. Palantir builds software platforms used by governments and enterprises to integrate data and run operational and analytical workflows, increasingly including AI/agent deployments in production. POET POET Technologies Inc. POET Technologies develops photonics integration and packaging products (optical engines and light sources) for AI networking and data-center interconnect using its Optical Interposer platform. PRME Prime Medicine, Inc. Prime Medicine is a clinical-stage biotech developing prime-editing genetic medicines, with near-term focus on in vivo liver programs and partnered ex vivo cell therapy. PWR Quanta Services, Inc. Specialty contractor delivering electric power, underground utility, renewable interconnect, communications, and related energy infrastructure services. QBTS D-Wave Quantum Inc. D-Wave develops and sells quantum computing systems and provides cloud access to quantum computers and hybrid solvers for commercial, government, and research customers. QUBT Quantum Computing Inc. Develops and sells quantum optics and integrated photonics hardware plus related foundry/services for commercial and government customers. RCAT Red Cat Holdings, Inc. Develops and sells small unmanned aircraft systems and related robotic solutions primarily for military, government, and allied defense customers. RDVT Red Violet, Inc. Provides identity intelligence (data + analytics) for identity verification, fraud prevention, risk mitigation, and due diligence via web workflows and APIs. RGTI Rigetti Computing, Inc. Rigetti designs superconducting quantum processors and delivers quantum compute via cloud access and on-premises quantum systems for government, enterprise, and research customers. RIOT Riot Platforms, Inc. Riot operates large-scale Bitcoin mining and is pivoting parts of its Texas power-backed sites into leased AI/HPC data center capacity. RKLB Rocket Lab Corporation Rocket Lab provides space launch services and space systems (spacecraft, components, payloads, and mission solutions) to commercial and government customers. RLAY Relay Therapeutics, Inc. Clinical-stage biotech developing small-molecule therapies for oncology and genetic diseases, with a lead breast-cancer asset and an in-house computational discovery platform. RMBS Rambus Inc. Rambus designs and sells memory-interface chips and licenses interface/security semiconductor IP used across server-memory and broader compute platforms. RR RICHTECH ROBOTICS INC. Richtech Robotics designs, manufactures, and deploys commercial/industrial service robots and monetizes via product sales plus leasing and services. RXRX Recursion Pharmaceuticals, Inc. Clinical-stage biotechnology company using an integrated wet-lab + compute platform to discover and develop drugs, monetizing via pipeline assets and biopharma collaborations. S SentinelOne, Inc. SentinelOne sells subscription cybersecurity software to prevent, detect, and respond to threats across endpoints and cloud environments. SDGR Schrödinger, Inc. Schrödinger develops computational molecular modeling software for drug discovery and advances internal and partnered therapeutic programs. SERV Serve Robotics Inc. Serve Robotics designs, builds, and operates autonomous sidewalk delivery robots and related fleet services, and is expanding into hospital robotics via the Moxi platform. SITM SiTime Corporation SiTime designs and sells MEMS-based precision timing devices (oscillators, resonators and clocking ICs) for communications, datacenter, industrial and automotive electronics. SMCI Super Micro Computer, Inc. Supermicro designs and sells application-optimized servers, storage, and rack-scale data center systems, increasingly for AI infrastructure deployments. SMR NuScale Power Corporation NuScale develops and licenses small modular nuclear reactor plant technology and provides related engineering and project services. SNOW Snowflake Inc. Snowflake provides a cloud data platform for storing, processing, analyzing, and sharing enterprise data and running data/AI workloads under a consumption model. SNPS Synopsys, Inc. Synopsys provides mission-critical software and IP for chip design/verification and, post-Ansys, broader engineering simulation from silicon to systems. SOUN SoundHound AI, Inc. SoundHound AI sells voice and conversational AI software that enterprises and product makers embed into customer and employee workflows (restaurants, automotive, and enterprise service/IT). SPIR Spire Global, Inc. Spire Global sells satellite-derived data and analytics (notably weather and RF intelligence) and provides space services to government and commercial customers. STEM Stem, Inc. Stem provides software, controls/edge products, and services that monitor, control, and optimize solar and energy-storage assets for owners and operators. SYM Symbotic Inc. Designs and deploys AI-enabled warehouse automation systems (robots, storage, and orchestration software) plus ongoing support/services for large distributors. TEM Tempus AI, Inc. Tempus provides clinical genomics testing plus data/licensing and software products for providers and life-sciences customers. TLN Talen Energy Corporation Independent power producer operating nuclear and natural-gas generation, selling electricity/capacity into U.S. wholesale markets (PJM-weighted) with an emerging data-center reliability contracting focus. 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 semiconductor foundry, manufacturing advanced logic chips and providing advanced packaging for fabless chip designers. TWST Twist Bioscience Corporation Twist Bioscience manufactures and sells synthetic DNA products and genomics workflow components to biotech/pharma, diagnostics, and research customers. VICR Vicor Corporation Vicor designs and manufactures high-density modular power components and power systems, with growing exposure to AI/HPC power delivery plus IP licensing royalties. VRT Vertiv Holdings Co Vertiv provides critical digital infrastructure (power, thermal management, racks, monitoring, and lifecycle services) primarily for data centers and communication networks. VST Vistra Corp. Integrated U.S. power generator and competitive retail electricity provider with meaningful nuclear and natural-gas exposure across multiple markets. WULF TeraWulf Inc. TeraWulf develops and operates power-advantaged U.S. digital infrastructure for bitcoin mining and contracted AI/HPC data center hosting. ZS Zscaler, Inc. Zscaler provides cloud-delivered, in-line security and zero-trust access services to enterprises via subscription software.
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: