| 1 |
HURA
|
biotech
healthcare
|
TuHURA Biosciences, Inc.
|
13.9x
|
0.20
|
A micro-cap, Phase 3 “checkpoint-resistance” lever: if IFx-2.0 clears its SPA-aligned ORR bar and TuHURA avoids value-destructive dilution, it can step-function from survival financing to a partnerable combo asset by 2030.
|
| 2 |
NTLA
|
biotech
healthcare
|
Intellia Therapeutics, Inc.
|
11.8x
|
0.40
|
If lonvo-z becomes a trusted one-time HAE prophylaxis with payer-ready contracting and clean hepatic safety, NTLA can re-rate from “platform on probation” to a first-launch rare-disease commercial story; nex-z (ATTR) is upside optionality but not required for a multi-year revaluation.
|
| 3 |
ETH
|
crypto
finance
software
|
Ethereum Network
|
7.2x
|
0.80
|
ETH is a leveraged claim on neutral, institutional-grade programmable settlement: if stablecoins/RWAs + agentic payments scale on Ethereum-aligned rails and L1 re-captures a modest share of execution spend (fees + ordering), today’s low monetization can flip into a durable 2030 re-rate.
|
| 4 |
BTC
|
crypto
cybersecurity
energy
finance
|
Bitcoin Network
|
6.6x
|
0.90
|
By 2030 Bitcoin can re-rate as neutral reserve collateral in an AI-accelerated world: deeper regulated access (ETFs/custody), corporate/sovereign absorption, and halvings tightening float support a ~$11.5T network value (~$550k/BTC) if mining decentralization and policy resilience hold.
|
| 5 |
SPIR
|
ai
defense
energy
enterprise
space
|
Spire Global, Inc.
|
6.2x
|
0.60
|
Spire can re-rate from “lumpy space contractor” to a trusted space-data utility by converting $200M+ RPO into higher-SLA RF intelligence and weather decision products, while keeping constellation capex disciplined and proving break-even by late 2026.
|
| 6 |
ATOM
|
crypto
finance
networking
software
|
Cosmos Hub
|
6.2x
|
0.60
|
ATOM is a distressed option on Cosmos Hub turning interoperability distribution (routing defaults) + shared-security services into auditable cashflows; if routing and security revenues become legible and dilution is contained, the market can re-rate ATOM from “yield beta” to infrastructure.
|
| 7 |
QUBT
|
ai
cybersecurity
hardware
quantum
semiconductors
|
Quantum Computing Inc.
|
6.2x
|
0.60
|
QUBT is a cash-heavy, U.S.-based photonics manufacturing + security platform: if it converts small-batch photonics into qualified, repeatable shipments and attaches recurring security software/services by 2028–2029, equity can compound into 2030 despite today’s tiny revenue base.
|
| 8 |
POL
|
crypto
finance
networking
software
|
Polygon Ecosystem Token
|
6.0x
|
0.50
|
Polygon’s non-linear upside is converting “cheap blockspace” into a cross-chain settlement + payments platform: if AggLayer becomes a default interoperability/liquidity layer while Polygon PoS stays payments-grade, POL can re-rate on expanding fee surfaces (interop, proving, intents) rather than just low gas fees.
|
| 9 |
MBLY
|
ai
automotive
semiconductors
software
transportation
|
Mobileye Global Inc.
|
5.7x
|
0.60
|
MBLY is a depressed-price autonomy compounder: if it converts its ADAS installed base into higher content-per-vehicle (hands-free → eyes-off) plus recurring safety/mapping software, it can re-rate from auto-supplier multiples toward a software-enabled compute platform by 2030.
|
| 10 |
AVAX
|
crypto
finance
software
|
Avalanche Network
|
5.6x
|
0.60
|
AVAX is a convex bet that “many sovereign chains” becomes a single composable liquidity surface (via native messaging + canonical routing) and that regulated tokenization + stablecoin rails add durable fee demand without fragmenting the gas/settlement premium away from AVAX.
|
| 11 |
RLAY
|
ai
biotech
healthcare
|
Relay Therapeutics, Inc.
|
5.6x
|
0.50
|
If Phase 3 confirms a clinically meaningful efficacy/tolerability edge for zovegalisib, Relay can shift from “cash-backed optionality” to an emerging commercial oncology story by 2030, with upside from lifecycle expansion plus selective platform/partnering monetization.
|
| 12 |
AISP
|
ai
cybersecurity
defense
hardware
software
|
Airship AI Holdings, Inc.
|
5.6x
|
0.60
|
If Airship converts its federal pipeline into repeatable, higher-margin recurring software/support (and adds trust features like provenance + governed federation), it can re-rate from lumpy edge-hardware projects to a small but defensible public-safety data platform by 2030.
|
| 13 |
PDYN
|
ai
defense
hardware
robotics
software
|
Palladyne AI Corp.
|
5.4x
|
0.60
|
PDYN’s non-linear upside is converting edge autonomy from bespoke pilots into a repeatable “autonomy + avionics + domestic production” stack, then monetizing trust (verified autonomy), distribution (OEM/integrator bundles), and ecosystem pull (certified behaviors) as robotics adoption accelerates and defense reshoring budgets expand.
|
| 14 |
APUS
|
ai
biotech
crypto
finance
healthcare
|
Apimeds Pharmaceuticals US, Inc.
|
5.4x
|
0.40
|
APUS can compound from a microcap “story stock” into a fundable platform if it (1) de-risks Apitox into a partnerable late-stage non-opioid asset and (2) proves MindWave’s compliance-first treasury controls can turn BTC volatility into runway, not dilution—yet the outcome hinges on capital-structure discipline.
|
| 15 |
MSTR
|
ai
crypto
enterprise
finance
software
|
Strategy Inc.
|
5.2x
|
0.70
|
If Bitcoin keeps monetizing as global collateral, Strategy can compound per-share BTC exposure via its multi-instrument issuance stack; the upside is non-linear if its “capital markets platform” keeps funding BTC accumulation without forced selling in downcycles.
|
| 16 |
DOT
|
crypto
finance
networking
software
|
Polkadot Network
|
5.2x
|
0.60
|
DOT is an under-owned option on Polkadot converting “shared security + interoperable capacity markets” into a chain-abstracted execution layer; if Revive + intent UX pulls real app demand onto the Hub and into DOT-denominated sinks, value capture can step-change and DOT can re-rate into 2030.
|
| 17 |
FIL
|
ai
cloud
crypto
enterprise
software
|
Filecoin Network
|
5.1x
|
0.60
|
FIL is asymmetric if Filecoin converts its large storage footprint into metered, verifiable “data + delivery” services (hot storage, retrieval attestations, programmable payments), making FIL demand track real AI/web3 data throughput by 2030 rather than subsidized capacity.
|
| 18 |
NNOX
|
ai
hardware
healthcare
medical devices
software
|
Nano-X Imaging Ltd.
|
5.1x
|
0.50
|
If Nanox converts its growing deployment funnel into repeatable utilization, it can re-rate from “hardware pilot” to a scan-to-report workflow business where recurring reading + AI findings compound faster than system placements.
|
| 19 |
PRME
|
biotech
healthcare
|
Prime Medicine, Inc.
|
5.0x
|
0.45
|
PRME’s non-linear upside is a credibility transition: PM359 durability + clean safety establishes prime editing in humans, then 2026–2027 in vivo liver data plus repeatable partnering reduces dilution and earns a platform re-rate into 2030.
|
| 20 |
BEAM
|
ai
biotech
healthcare
|
Beam Therapeutics Inc.
|
5.0x
|
0.50
|
If Beam converts its strong sickle-cell dataset into a clear late-decade approval path while its liver in vivo program avoids class-wide safety setbacks, the stock can re-rate from “R&D option” to “multi-asset platform,” with non-linear upside from faster follow-ons, licensing, and improved trial/manufacturing cadence.
|
| 21 |
SOL
|
ai
crypto
finance
networking
software
|
Solana Network
|
4.6x
|
0.75
|
Solana’s non-linear upside is turning “speed + single-state composability” into durable, institution- and agent-grade settlement share by capturing more of transaction-execution value (not just activity), helped by multi-client resilience and intent-style execution that makes high-velocity markets and payments trustworthy at scale.
|
| 22 |
CRSP
|
biotech
healthcare
|
CRISPR Therapeutics AG
|
4.3x
|
0.45
|
CRSP’s non-linear upside by 2030 comes from turning a first-in-class launch (CASGEVY economics) into a repeatable, multi-asset engine: higher real-world treatment-center throughput + earlier-age expansion in hemoglobinopathies, plus one cardiometabolic in vivo program progressing to registrational-grade durability/safety—amplified by workflow software, better payer rails for one-time therapies, and automation-driven manufacturing leverage.
|
| 23 |
AI
|
ai
automation
cloud
enterprise
software
|
C3.ai, Inc.
|
4.3x
|
0.50
|
If the CEO-led GTM reset turns partner-heavy pilots into repeatable, governed production deployments (especially Federal), C3.ai can restore durable growth and re-rate as an enterprise workflow layer for audited agents by 2030.
|
| 24 |
SERV
|
ai
automation
robotics
transportation
|
Serve Robotics Inc.
|
4.3x
|
0.70
|
SERV’s non-linear upside is converting a 2,000-robot footprint into high-utilization city “capacity” (food + parcels/returns) while reducing platform dependence; if it proves repeatable launches + daypart smoothing, the market can re-rate it from prototype economics to scaled urban logistics throughput.
|
| 25 |
POET
|
ai
hardware
networking
semiconductors
|
POET Technologies Inc.
|
4.1x
|
0.60
|
POET’s non-linear upside is a “scale-or-stall” bet: if it converts 800G→1.6T program momentum into repeatable high-yield volume using its Malaysia footprint and deploys its now-large cash position into supply/security-of-supply and selective tuck-ins, it can graduate from prototype economics to a credible AI-optics merchant platform by 2030.
|
| 26 |
NBIS
|
ai
cloud
energy
hardware
software
|
Nebius Group N.V.
|
4.0x
|
0.80
|
Nebius can convert scarce power+GPU supply into long-dated, committed AI infrastructure revenue (hyperscalers + enterprises), then defend utilization by adding sovereign and higher-trust layers—if it funds the buildout with contract-backed financing rather than perpetual dilution.
|
| 27 |
RXRX
|
ai
biotech
healthcare
software
|
Recursion Pharmaceuticals, Inc.
|
3.9x
|
0.70
|
If Recursion converts its partner-funded discovery engine into repeatable clinical translation and productizes pieces of its clinical-tech stack, it can re-rate from lumpy milestones to a platform+product biotech by 2030.
|
| 28 |
AMPX
|
aerospace
defense
energy
evtol
hardware
|
Amprius Technologies, Inc.
|
3.9x
|
0.60
|
If Amprius turns today’s drone/defense design-ins into repeatable, higher-utilization partner production (while adding software/licensing attach), it can scale revenue non-linearly by 2030 without matching the capex burden of vertically integrated cell makers.
|
| 29 |
AUR
|
ai
automation
hardware
robotics
transportation
|
Aurora Innovation, Inc.
|
3.8x
|
0.70
|
Aurora’s non-linear upside is turning early driverless freight into a repeatable “lane + hardware + workflow” rollout (hundreds of trucks in 2026; scaled OEM-integrated deployments after 2027), so it captures a small but valuable slice of linehaul spend and re-rates from option value to autonomy infrastructure by 2030.
|
| 30 |
FIVN
|
ai
cloud
communications
enterprise
software
|
Five9, Inc.
|
3.8x
|
0.60
|
Five9 can re-rate and compound through 2030 by shifting from per-seat CCaaS to outcome-priced autonomous resolution, with AI attach + trust/security becoming premium SKUs as AI commoditizes labor but raises fraud/verification needs.
|
| 31 |
SDGR
|
ai
biotech
enterprise
healthcare
software
|
Schrödinger, Inc.
|
3.7x
|
0.70
|
SDGR can compound like an R&D “operating system” if it keeps therapeutics option value partner-funded, grows hosted enterprise software, and productizes trust (auditability/security) so computational evidence becomes procurement- and regulator-ready, turning episodic science wins into repeatable, higher-ARPA contracts.
|
| 32 |
LINK
|
ai
crypto
finance
software
|
Chainlink Network
|
3.6x
|
0.70
|
LINK’s non-linear upside is finally getting a clearer value-capture rail: Payment Abstraction + the LINK Reserve can convert enterprise/on-chain service revenue into persistent LINK demand, while CCIP and institutional-grade workflows expand the payable surface area by 2030.
|
| 33 |
S
|
ai
cloud
cybersecurity
enterprise
software
|
SentinelOne, Inc.
|
3.6x
|
0.70
|
If SentinelOne sustains ~20%+ platform growth while compounding “data + agentic workflows” into higher attach (SIEM/data, cloud security, AI runtime governance, outcome-priced SOC), it can re-rate from a challenger discount toward a durable cyber platform by 2030 despite bundle pressure from larger suites.
|
| 34 |
OUST
|
ai
automotive
hardware
robotics
software
|
Ouster, Inc.
|
3.4x
|
0.60
|
OUST’s non-linear upside is converting growing lidar shipments into a software-attached, outcomes-priced “sensing + perception” platform for logistics yards, cities, and security—where deployment data, uptime trust, and integrator distribution compound faster than hardware ASP erosion.
|
| 35 |
SMCI
|
ai
cloud
enterprise
hardware
|
Super Micro Computer, Inc.
|
3.4x
|
0.55
|
Supermicro can compound through 2030 by staying first-to-market on GPU rack platforms (especially liquid-cooled), industrializing factory-integrated racks to cut time-to-online, and attaching higher-trust services (security, compliance, lifecycle) that modestly lifts its hardware multiple despite OEM/ODM price pressure.
|
| 36 |
WULF
|
ai
cloud
crypto
energy
|
TeraWulf Inc.
|
3.4x
|
0.70
|
WULF is converting scarce, power-rich campuses into long-duration, credit-enhanced AI data-center cash flows; if the 2026–2028 delivery slate lands on-time, equity can compound ~2–3x by 2030 despite heavy leverage.
|
| 37 |
RCAT
|
ai
defense
hardware
robotics
software
|
Red Cat Holdings, Inc.
|
3.4x
|
0.60
|
If Red Cat converts its U.S. Army “program beachhead” into repeatable high-volume deliveries and attaches controller + autonomy updates + sustainment, it can graduate from lumpy microcap supplier to scaled defense-robotics OEM by 2030.
|
| 38 |
CORZ
|
ai
cloud
crypto
energy
hardware
|
Core Scientific, Inc.
|
3.4x
|
0.60
|
CORZ can compound value by converting scarce, already-energized U.S. power and campuses into long-duration, dollar-denominated AI colocation cash flows, while keeping bitcoin exposure as a call option—not the underwriting base.
|
| 39 |
AAOI
|
ai
communications
hardware
networking
semiconductors
|
Applied Optoelectronics, Inc.
|
3.3x
|
0.60
|
AAOI’s non-linear shot is turning 800G from qualification into repeat volume while scaling U.S.-anchored, vertically integrated manufacturing; if it converts early hyperscale orders into multi-customer programs and stabilizes gross margin/working capital, it can re-rate from “ramp trade” to durable AI-interconnect supplier by 2030.
|
| 40 |
IREN
|
ai
cloud
crypto
energy
hardware
|
IREN Limited
|
3.3x
|
0.80
|
IREN’s non-linear upside comes from converting scarce, grid-connected power into hyperscaler-grade AI capacity fast; the Microsoft anchor deal plus repeatable financing structures can turn a miner footprint into a contracted “compute utility” by 2030.
|
| 41 |
CRWV
|
ai
cloud
enterprise
hardware
|
CoreWeave, Inc.
|
3.2x
|
0.80
|
CoreWeave can compound into a scaled “AI compute utility + platform attach” by converting its contracted demand/backlog into delivered capacity, then defending pricing with higher-level inference, security, and regulated workloads; the swing factor is whether leverage/capex cadence stays financeable through inevitable build and power bottlenecks.
|
| 42 |
BKSY
|
ai
defense
software
space
|
BlackSky Technology Inc.
|
3.2x
|
0.60
|
Gen-3 launch cadence + much faster commissioning can turn BlackSky from “imagery delivery” into “alerts and monitoring subscriptions” for allied defense and critical infrastructure; if it standardizes sovereign deployments and bundles multi-sensor access, revenue scales faster than satellites and the multiple trends toward defense software.
|
| 43 |
RIOT
|
ai
cloud
crypto
energy
hardware
|
Riot Platforms, Inc.
|
3.1x
|
0.60
|
RIOT’s non-linear upside is a valuation re-rate from “BTC miner” to “power-and-land backed compute infrastructure” by contracting tenant-grade AI/HPC capacity at Corsicana while using self-mining as the flexible swing load that monetizes power volatility and funds buildout.
|
| 44 |
DNA
|
ai
automation
biotech
healthcare
|
Ginkgo Bioworks Holdings, Inc.
|
3.1x
|
0.60
|
If Ginkgo converts bespoke cell-engineering into repeatable, SLA-backed autonomous-lab tools (plus multi-year biosecurity programs), revenue durability can rise enough to support a modest re-rate by 2030 despite continued capital/lease leverage.
|
| 45 |
TWST
|
automation
biotech
healthcare
software
|
Twist Bioscience Corporation
|
3.1x
|
0.60
|
As AI makes “designing biology” cheap, Twist can be the scaled, trusted “biology fulfillment + verification” layer—compounding SynBio/NGS share while moving up-stack into higher-trust nucleic-acid supply and compliance-grade workflows that unlock a durable re-rate if FY26 EBITDA breakeven is hit.
|
| 46 |
ACHR
|
aerospace
automation
defense
evtol
transportation
|
Archer Aviation Inc.
|
3.1x
|
0.60
|
If Archer converts its cash-backed certification + manufacturing ramp into repeatable fleet operations (LA hub/partners) and expands defense/powertrain adjacencies, the equity can re-rate from “R&D option” to “scaled operator + platform supplier” into 2030.
|
| 47 |
SMR
|
energy
nuclear
|
NuScale Power Corporation
|
3.0x
|
0.65
|
NuScale is an “compute-for-power” option: if ENTRA1/TVA and other pipelines convert into bankable, repeatable builds (not just announcements), its NRC-approved design + licensing/services model can scale non-linearly into 2030; if not, dilution and timeline drift dominate equity outcomes.
|
| 48 |
BFLY
|
ai
healthcare
medical devices
semiconductors
software
|
Butterfly Network, Inc.
|
3.0x
|
0.60
|
If Butterfly turns bedside ultrasound from a probe purchase into an enterprise workflow layer (documentation, QA, interoperability, billing capture) via Compass AI, it can grow faster than the underlying device market and earn a durable, higher-quality recurring revenue mix by 2030.
|
| 49 |
INOD
|
ai
communications
enterprise
healthcare
software
|
Innodata Inc.
|
2.9x
|
0.60
|
In a world where cognition gets cheap, “trusted, auditable training/evaluation data” becomes scarce; Innodata can scale its AI data factory into a more software-like quality layer (platform + regulated/federal expansion), but must diversify beyond a few hyperscaler buyers to sustain a premium multiple into 2030.
|
| 50 |
TSLA
|
ai
automotive
energy
robotics
software
|
Tesla, Inc.
|
2.9x
|
0.70
|
Tesla’s 2025–2030 upside is a mix-shift: EV hardware stays large but funds higher-margin network revenue (autonomy/mobility services, charging software, insurance) while grid storage scales into AI datacenter power and flexibility—if safety/regulatory gates clear fast enough to preserve a tech-like multiple.
|
| 51 |
RR
|
ai
automation
enterprise
hardware
robotics
|
Richtech Robotics Inc.
|
2.8x
|
0.60
|
If Richtech turns its 450+ deployment footprint into repeatable, multi-site enterprise rollouts—and layers higher-margin software, data services, and uptime-grade support—the business can compound non-linearly by 2030; the stock outcome hinges on dilution discipline and service reliability at scale.
|
| 52 |
IONQ
|
cybersecurity
defense
hardware
quantum
space
|
IonQ, Inc.
|
2.7x
|
0.70
|
IonQ’s best non-linear path to 2030 is not “one killer quantum app,” but bundling scarce, trust-heavy infrastructure (quantum compute access + quantum-safe security + assured timing) into contracted, compliance-driven products where buyers pay for verification, uptime, and sovereignty—not experimentation.
|
| 53 |
FLNC
|
ai
energy
hardware
software
|
Fluence Energy, Inc.
|
2.7x
|
0.60
|
If Fluence converts record backlog into repeatable, low-incident deliveries while attaching higher-margin services + optimization, it can re-rate from “project integrator” toward “bankable grid control-plane,” riding AI-driven load growth and power-price volatility into 2030.
|
| 54 |
AMD
|
ai
enterprise
hardware
semiconductors
|
Advanced Micro Devices, Inc.
|
2.7x
|
0.70
|
AMD can compound equity value through 2030 by scaling from “credible #2 silicon” into a repeatable rack-scale AI platform (CPU+GPU+networking+software), monetizing multi-sourcing and sovereign/enterprise demand while adding higher-margin software/services attach that reduces pure chip-cycle dependence.
|
| 55 |
JBL
|
ai
automation
energy
enterprise
hardware
|
Jabil Inc.
|
2.5x
|
0.50
|
Jabil can compound faster than a typical EMS peer by riding AI data-center buildouts (compute, cooling, power) while productizing higher-value infrastructure modules and compliance/security services that lift mix, resilience, and the market’s willingness to pay a higher multiple.
|
| 56 |
PATH
|
ai
automation
cloud
enterprise
software
|
UiPath, Inc.
|
2.5x
|
0.60
|
UiPath can compound from “automation tools” into the governed execution layer for enterprise agents by monetizing orchestration, security controls, and outcome packaging across its installed base—driving durable mid-teens growth and a modest multiple re-rate into 2030.
|
| 57 |
COIN
|
crypto
cybersecurity
finance
software
|
Coinbase Global, Inc.
|
2.4x
|
0.70
|
Coinbase can de-cycle from spot-fee dependence into regulated onchain financial infrastructure (derivatives, stablecoin payments, tokenized assets, identity/security and agent-safe wallets), compounding revenue while retaining a durable “trusted gateway” role as cognition commoditizes and policy-driven agents transact at scale.
|
| 58 |
SOUN
|
ai
automotive
enterprise
software
|
SoundHound AI, Inc.
|
2.4x
|
0.60
|
If SoundHound turns “voice UI” into “voice transactions” (reservations, parking/payment, ordering, service workflows) while compressing inference costs, it can grow into a scaled applied-AI platform and earn a durable software valuation by 2030 despite hyperscaler pressure.
|
| 59 |
TEM
|
ai
biotech
healthcare
software
|
Tempus AI, Inc.
|
2.4x
|
0.70
|
Tempus can convert regulated diagnostics throughput into a compounding data + clinical-workflow platform: as AI commoditizes cognition, durable value shifts to trusted distribution, governed datasets, and auditability—driving a mix shift from lab revenue to higher-multiple software/data by 2030.
|
| 60 |
ESTC
|
ai
cloud
cybersecurity
enterprise
software
|
Elastic N.V.
|
2.4x
|
0.60
|
Elastic can compound into a higher-trust enterprise retrieval + telemetry system: steady cloud growth plus premium governance and closed-loop automation tiers can support ~2x EV by 2030 if Elastic stays the neutral layer across clouds and avoids being bundled out by incumbents.
|
| 61 |
HUT
|
ai
cloud
crypto
energy
hardware
|
Hut 8 Corp.
|
2.4x
|
0.70
|
Hut 8’s non-linear upside is converting scarce “deliverable MW” into investment-grade-backed AI campus cash flows (plus services), shifting valuation from BTC beta to contracted infrastructure—if it can scale without value-destructive dilution.
|
| 62 |
APLD
|
ai
cloud
energy
networking
|
Applied Digital Corporation
|
2.4x
|
0.65
|
If Applied Digital converts its contracted AI-campus leases into repeatable, on-time deliveries while keeping the capital stack mostly asset-level (and broadening beyond a single anchor tenant), it can compound into a scaled “compute real-estate” platform by 2030 despite high leverage and construction risk.
|
| 63 |
MRVL
|
ai
cybersecurity
hardware
networking
semiconductors
|
Marvell Technology, Inc.
|
2.4x
|
0.60
|
Marvell can compound into 2030 by becoming the connective tissue of AI clusters (custom silicon + high-speed interconnect + emerging optical scale-up), with upside from turning lumpy hyperscaler co-design into multi-year platforms and adding higher-quality attach in security/telemetry.
|
| 64 |
CRNC
|
ai
automotive
software
|
Cerence Inc.
|
2.4x
|
0.60
|
Cerence’s 2030 upside is converting its embedded OEM footprint into higher-ARPU recurring software (agent platform + lifecycle agents + safety/assurance), while using improved cash generation and IP monetization to de-lever and earn a durable software multiple rather than a low-growth auto-supplier multiple.
|
| 65 |
BBAI
|
ai
cybersecurity
defense
software
|
BigBear.ai Holdings, Inc.
|
2.4x
|
0.55
|
BBAI’s unusually large liquidity war-chest can fund a pivot from lumpy federal services to repeatable secure AI software (via Ask Sage) and identity workflow monetization, enabling 2–3× EV compounding by 2030 if mix shifts and procurement timing normalizes.
|
| 66 |
AVAV
|
aerospace
ai
defense
robotics
space
|
AeroVironment, Inc.
|
2.3x
|
0.70
|
AeroVironment can compound by turning scaled “drones + counter-drones” manufacturing into a higher-attach, software-and-operations-led defense platform, if BlueHalo integration converts bookings/backlog into predictable delivery cadence and recurring mission software/services by 2030.
|
| 67 |
AMBA
|
ai
automotive
hardware
robotics
semiconductors
|
Ambarella, Inc.
|
2.3x
|
0.60
|
Edge-AI inference is shifting from cloud to endpoints; Ambarella can compound by turning vision SoCs (CVflow/N1) into a higher-ASP, higher-durability “trusted edge perception” stack (security + provenance + update tooling), but must de-risk distributor/customer concentration to sustain a premium multiple into 2030.
|
| 68 |
DDOG
|
ai
cloud
cybersecurity
enterprise
software
|
Datadog, Inc.
|
2.3x
|
0.70
|
Datadog can compound into an AI-era operations control plane: more AI workloads create more telemetry, more failure modes, and more security exposure—raising willingness-to-pay for unified observability plus automated response, while new “trust” and compliance features expand it beyond monitoring into evidence-grade operations.
|
| 69 |
RGTI
|
cloud
defense
hardware
quantum
|
Rigetti Computing, Inc.
|
2.3x
|
0.60
|
Rigetti is a high-volatility quantum hardware call option: if it converts its end-2025 to 2027 roadmap into sovereign leases, enterprise-grade reliability, and “picks-and-shovels” control products, revenue quality can shift non-linearly by 2030—but the stock already prices major technical credibility and any adoption slip can de-rate fast.
|
| 70 |
ALAB
|
ai
hardware
networking
semiconductors
software
|
Astera Labs, Inc.
|
2.2x
|
0.70
|
Astera is compounding “connectivity dollars per AI rack” (PCIe/CXL retimers + smart cable modules + fabric switching), and is now extending into custom scale-up (NVLink Fusion ecosystem) and photonics—creating a plausible path to multi-billion revenue and a still-premium (but lower) 2030 multiple if execution stays crisp.
|
| 71 |
ZS
|
ai
cloud
cybersecurity
enterprise
software
|
Zscaler, Inc.
|
2.2x
|
0.70
|
As AI drives attack speed beyond human response, enterprises shift to always-on, in-line security control planes; Zscaler can compound its traffic + telemetry into higher-value platform bundles (data security, AI security, security operations, compliance evidence) and sustain high-teens growth even as valuation normalizes.
|
| 72 |
RDVT
|
ai
cybersecurity
enterprise
finance
software
|
Red Violet, Inc.
|
2.2x
|
0.70
|
As AI makes scams cheaper and faster, enterprises shift spend from manual review to real-time, auditable identity decisions; RDVT can compound a high-margin identity graph into embedded trust APIs and privacy-safe signal products while staying asset-light and using buybacks to amplify per-share value by 2030.
|
| 73 |
NOW
|
ai
automation
cloud
enterprise
software
|
ServiceNow, Inc.
|
2.2x
|
0.70
|
As AI makes “doing the work” cheap, enterprises pay for governed execution; ServiceNow can become the orchestration, permissions, and audit layer for human+agent workflows across IT, employee, customer, and security domains, sustaining high growth while its valuation multiple compresses only partially.
|
| 74 |
QBTS
|
cloud
enterprise
hardware
quantum
software
|
D-Wave Quantum Inc.
|
2.2x
|
0.60
|
QBTS can compound non-linearly if it converts “quantum value today” into repeatable, auditable optimization products (outcome-priced vertical packages, OEM plugins, sovereign capacity nodes, and a government-grade offering), using its large cash balance to buy time and distribution—yet the current valuation already assumes a step-change, so per-share upside depends on scaling recurring revenue faster than multiple compression.
|
| 75 |
PL
|
ai
defense
enterprise
software
space
|
Planet Labs PBC
|
2.2x
|
0.70
|
Planet’s non-linear upside is shifting from “selling pixels” to selling trusted, low-latency monitoring outcomes (alerts/workflows) on top of an irreplaceable daily archive—pulled by sovereign/defense demand and amplified by AI productization.
|
| 76 |
AMZN
|
advertising
ai
automation
cloud
media
|
Amazon.com, Inc.
|
2.2x
|
0.85
|
By 2030, Amazon can convert today’s AI + logistics capex wave into durable cash-flow via AWS capacity monetization, ads density on commerce intent, and automation-led cost-per-unit declines—while new “trust + security” primitives reduce fraud and improve conversion.
|
| 77 |
VICR
|
ai
enterprise
hardware
semiconductors
|
Vicor Corporation
|
2.2x
|
0.60
|
As AI racks push power-delivery density/efficiency from optimization to gating constraint, Vicor can grow content-per-rack and monetize defensible power-delivery IP (modules + royalties), driving a non-linear revenue step-up if 48V direct-to-load and next-gen package-level delivery ramps across multiple hyperscaler/ODM platforms.
|
| 78 |
LMND
|
ai
finance
software
|
Lemonade, Inc.
|
2.1x
|
0.60
|
If Lemonade sustains its AI-driven expense advantage (claims handling + servicing) while keeping loss-cost volatility controlled as it scales Car and Europe, it can shift investor framing from “insurtech growth” to “profitable growth insurer,” enabling a durable re-rate by 2030.
|
| 79 |
CRDO
|
ai
hardware
networking
semiconductors
|
Credo Technology Group Holding Ltd
|
2.1x
|
0.70
|
Credo can compound into a multi‑billion dollar connectivity franchise by riding AI-cluster bandwidth/power constraints, expanding from today’s cable/PHY wins into optics + scale-up interconnect, and adding thin, defensible software/security/royalty layers that improve durability and sustain a premium valuation.
|
| 80 |
RKLB
|
aerospace
defense
hardware
software
space
|
Rocket Lab Corporation
|
2.1x
|
0.65
|
By 2030, Rocket Lab can compound from “launch + build” into a repeatable national-security constellation production-and-operations engine; revenue can grow ~15x, but equity upside is mainly fundamentals catching up to today’s expectations as valuation multiples compress toward industrial norms.
|
| 81 |
SNOW
|
ai
cloud
enterprise
software
|
Snowflake Inc.
|
2.1x
|
0.65
|
Snowflake’s non-linear upside is becoming the governed “enterprise AI execution layer” (data + apps + autonomous agents) where trust, distribution, and cost-predictable compute matter; if it sustains >20% revenue compounding while absorbing moderate multiple compression, it can still deliver ~2x EV by 2030.
|
| 82 |
ASTS
|
communications
defense
hardware
networking
space
|
AST SpaceMobile, Inc.
|
2.1x
|
0.70
|
ASTS is a cadence-and-packaging bet: if it reaches near-continuous coverage by 2026–2027, carriers can bundle satellite coverage as a default entitlement, unlocking a non-linear usage step-up plus higher-margin layers (settlement, fraud/identity, enterprise resilience) on the same constellation by 2030.
|
| 83 |
ON
|
ai
automotive
energy
hardware
semiconductors
|
ON Semiconductor Corporation
|
2.1x
|
0.60
|
If AI power becomes a durable “new end-market” while auto/industrial normalize, onsemi can compound into 2030 via higher power content-per-system (power stages + packaging), selective GaN expansion, and sustained buybacks that support a higher mid-cycle multiple.
|
| 84 |
DELL
|
ai
cloud
enterprise
finance
hardware
|
Dell Technologies Inc.
|
2.1x
|
0.60
|
Dell can compound through 2030 by converting AI server demand into repeatable, financed, supportable rack-scale deployments, earning a modest re-rate if it proves AI profitability and keeps capital return disciplined.
|
| 85 |
ORCL
|
ai
cloud
enterprise
hardware
software
|
Oracle Corporation
|
2.1x
|
0.70
|
Oracle can compound into a scaled enterprise AI-cloud utility by converting its outsized contracted demand (RPO) into delivered OCI capacity, then re-attaching higher-margin database/apps and governance; the gating factor is proving durable cash conversion through peak AI capex.
|
| 86 |
NET
|
ai
cloud
cybersecurity
networking
software
|
Cloudflare, Inc.
|
2.1x
|
0.80
|
If Cloudflare converts recent outage pain into durable operational resilience while scaling its edge developer+AI platform, it can remain the default Internet control plane for apps and agents, compounding revenue fast enough to sustain a premium (but compressing) multiple into 2030.
|
| 87 |
OKLO
|
ai
defense
energy
nuclear
semiconductors
|
Oklo Inc.
|
2.0x
|
0.60
|
If Oklo converts its large but mostly non-binding data-center/industrial pipeline into bankable PPAs and gets its first plants operating on a repeatable template, it can be valued as a scarce “firm clean power” growth platform (not a science project) by 2030—despite dilution and heavy regulatory/capex friction.
|
| 88 |
ARM
|
ai
automotive
cloud
hardware
semiconductors
|
Arm Holdings plc
|
2.0x
|
0.70
|
Arm is an asset-light “efficiency tax” on global compute; if Armv9/CSS keep lifting royalty per chip and Neoverse penetrates cloud AI, Arm can compound revenue fast enough to sustain a still-premium multiple into 2030 despite rising open-ISA pressure.
|
| 89 |
JOBY
|
aerospace
ai
software
transportation
|
Joby Aviation, Inc.
|
2.0x
|
0.55
|
Joby’s non-linear upside is converting certification progress into a regulated mobility network: Blade + Uber distribution proves demand pre-eVTOL, Toyota-backed industrialization lifts throughput, and ops + software layers can compound once reliability and utilization are demonstrated.
|
| 90 |
MTSI
|
ai
defense
energy
networking
semiconductors
|
MACOM Technology Solutions Holdings, Inc.
|
2.0x
|
0.60
|
MACOM can compound faster than “normal semis” by riding AI connectivity upgrades (800G→1.6T optics) while using its owned specialty manufacturing + defense-grade qualification to expand into higher-value sockets (semi-custom, assured supply) and selectively adjacent AI power (GaN), sustaining premium growth even as the cycle normalizes.
|
| 91 |
NVDA
|
ai
hardware
networking
semiconductors
software
|
NVIDIA Corporation
|
2.0x
|
0.95
|
Nvidia remains the default AI-factory platform; the non-linear upside is expanding monetization from GPUs into rack-scale systems, fabrics, and software/marketplace control planes that turn power, security, and utilization into billable product surfaces through 2030.
|
| 92 |
LSCC
|
ai
cybersecurity
enterprise
hardware
semiconductors
|
Lattice Semiconductor Corporation
|
2.0x
|
0.60
|
Lattice can compound from a niche “low-power FPGA” vendor into an AI/edge control-plane standard (secure boot, attestation, telemetry glue), and defend a premium multiple if it adds recurring security/tooling revenue and keeps design-in momentum in AI servers while industrial normalizes.
|
| 93 |
CRM
|
ai
cloud
enterprise
software
|
Salesforce, Inc.
|
2.0x
|
0.70
|
By 2030, the upside case is converting an enormous installed CRM workflow surface into paid, governed “digital labor” (agents + trust controls + data readiness) with Informatica strengthening data quality, sustaining high cash generation and enabling a modest multiple lift as AI revenue becomes repeatable.
|
| 94 |
TSM
|
ai
hardware
semiconductors
|
Taiwan Semiconductor Manufacturing Company Limited
|
2.0x
|
0.80
|
TSMC remains the scarcity bottleneck for leading-edge wafers + advanced packaging in the AI buildout; if it sustains N2 ramps, expands packaging throughput, and productizes trust (provenance/secure lines) while hedging power + geopolitics via multi-region capacity, it can compound revenue and retain a premium infrastructure multiple into 2030.
|
| 95 |
NTAP
|
ai
cloud
enterprise
hardware
software
|
NetApp, Inc.
|
2.0x
|
0.55
|
NetApp can compound into an “enterprise data control plane” for the AI era—monetizing governed hybrid-cloud data mobility, cyber resilience, and cloud-native storage attachments—earning a modest re-rate as recurring cloud/services become more material.
|
| 96 |
KTOS
|
aerospace
defense
robotics
software
space
|
Kratos Defense & Security Solutions, Inc.
|
2.0x
|
0.60
|
Kratos can compound into 2030 if it converts today’s “program wins” (CCA-adjacent drones, hypersonic test/propulsion, satcom/ground, RF/EW) into repeatable, higher-rate production plus attach-rate businesses (readiness/subscription, payload kits, test services), sustaining a defense-tech revenue multiple vs re-rating to a contractor.
|
| 97 |
RMBS
|
ai
cybersecurity
enterprise
hardware
semiconductors
|
Rambus Inc.
|
2.0x
|
0.60
|
AI infrastructure increasingly bottlenecks on memory bandwidth and trust; Rambus can compound by expanding content per memory module (DDR5→DDR6-era complexity) while layering higher-margin recurring telemetry/provenance services on its installed base—supporting ~2× EV growth by 2030 even with some multiple compression.
|
| 98 |
SNPS
|
ai
automation
enterprise
semiconductors
software
|
Synopsys, Inc.
|
1.9x
|
0.70
|
Synopsys can compound value through 2030 by turning mission-critical chip design + physics simulation into a unified, AI-accelerated engineering platform with higher wallet share, more metered cloud usage, and new security/compliance attach—while keeping a premium software multiple despite export-control and integration drag.
|
| 99 |
META
|
advertising
ai
communications
hardware
media
|
Meta Platforms, Inc.
|
1.9x
|
0.75
|
Meta can reach a higher 2030 earnings power by turning ads into an increasingly autonomous “AI ROI machine” while monetizing WhatsApp as a business/commercial rail; the swing factor is whether capex + regulation stay containable enough to preserve premium valuation.
|
| 100 |
MSFT
|
ai
cloud
cybersecurity
enterprise
software
|
Microsoft Corporation
|
1.9x
|
0.80
|
Microsoft is positioned to be the default enterprise “agent + identity + data + compute” control plane; if Azure capacity keeps scaling and agent governance becomes mandatory, spend per employee shifts non-linearly toward Microsoft—offset by sustained AI infrastructure capex and cloud licensing scrutiny.
|
| 101 |
SYM
|
ai
automation
robotics
software
|
Symbotic Inc.
|
1.9x
|
0.65
|
Turn a very large contracted pipeline into an installed base, then compound economics by standardizing deployments (next-gen structure) and attaching higher-margin software/services layers that become the de-facto “warehouse control plane” as labor, uptime, and inventory truth become strategic constraints.
|
| 102 |
BWXT
|
defense
energy
healthcare
nuclear
|
BWX Technologies, Inc.
|
1.9x
|
0.60
|
BWXT is a scarce, permissioned nuclear manufacturer with compounding demand from naval propulsion and defense fuel-cycle programs; if it keeps converting record backlog while scaling higher-margin nuclear services/isotopes, it can sustain mid-teens revenue growth and retain a premium multiple through 2030, with non-linear option value from microreactors, enrichment know-how, and nuclear-grade digital QA.
|
| 103 |
APP
|
advertising
ai
media
software
|
AppLovin Corporation
|
1.9x
|
0.60
|
If AppLovin converts its mobile performance engine into a broader self-serve commerce and cross-channel optimization layer, it can compound revenue fast enough to sustain a premium valuation through 2030 despite ongoing platform/regulatory scrutiny.
|
| 104 |
CRWD
|
ai
cloud
cybersecurity
enterprise
software
|
CrowdStrike Holdings, Inc.
|
1.9x
|
0.70
|
As AI makes attacks cheaper and faster, enterprises consolidate onto fewer security control-planes; CrowdStrike can compound share via single-agent distribution + telemetry feedback loops + automation (Charlotte AI), plus monetizable trust upgrades (verifiable update safety)—but returns hinge on keeping premium valuation and avoiding reliability/regulatory shocks.
|
| 105 |
VST
|
energy
nuclear
|
Vistra Corp.
|
1.9x
|
0.70
|
Power is becoming a scarce input to AI and electrification; Vistra can convert scarce firm capacity (nuclear + flexible gas) and retail distribution into longer-dated, higher-quality cash flows via capacity/availability monetization and large-load contracting, sustaining a premium cash-flow multiple into 2030 if outage and policy risks stay contained.
|
| 106 |
CLS
|
ai
defense
enterprise
hardware
networking
|
Celestica Inc.
|
1.9x
|
0.60
|
Celestica can keep compounding through 2030 by being the execution layer for AI infrastructure (co-design → qualify → ramp → integrate → lifecycle), but shareholder upside is increasingly a multiple-management story after the 2025 re-rate: deliver 2026–2027 ramps, add higher-margin attach services, and avoid capex/working-capital accidents.
|
| 107 |
TLN
|
ai
energy
|
Talen Energy Corporation
|
1.9x
|
0.65
|
TLN is a scarce “clean-firm + fast-ramping” power platform in the most AI-constrained U.S. grid (PJM); if it turns elevated capacity pricing and plant-adjacent siting into repeatable long-duration large-load contracts (while keeping some merchant upside), it can plausibly compound equity value ~2x by 2030.
|
| 108 |
CEG
|
energy
enterprise
nuclear
|
Constellation Energy Corporation
|
1.9x
|
0.70
|
In the AI-led load boom, firm 24/7 low-carbon power becomes a scarcity asset; Constellation can lock long-duration enterprise contracts, add flexible supply and customer reach via Calpine, and compound value by turning reliability into higher-quality, more contractable cash flows through 2030.
|
| 109 |
PANW
|
ai
cloud
cybersecurity
enterprise
software
|
Palo Alto Networks, Inc.
|
1.9x
|
0.70
|
AI amplifies cyber offense and tool sprawl becomes untenable; PANW can keep taking wallet share via security consolidation, then extend into identity + observability and agentic SecOps to sustain premium growth even if multiples compress with scale.
|
| 110 |
VRT
|
ai
cloud
energy
enterprise
hardware
|
Vertiv Holdings Co
|
1.9x
|
0.70
|
As AI compute scales, uptime and thermals become the binding constraints; Vertiv can compound content-per-megawatt plus higher-margin lifecycle services (including liquid-cooling services) and monetize verification/efficiency software, supporting durable above-industry growth even if equipment cycles soften.
|
| 111 |
ANET
|
ai
enterprise
hardware
networking
software
|
Arista Networks, Inc.
|
1.8x
|
0.60
|
Arista can compound into 2030 by staying the default “production Ethernet” choice for AI clusters and by monetizing operations software (energy/job-aware control, assurance, identity) across an expanding installed base, keeping a premium multiple even if AI capex gets lumpy.
|
| 112 |
MPWR
|
ai
automotive
enterprise
hardware
semiconductors
|
Monolithic Power Systems, Inc.
|
1.8x
|
0.70
|
As AI infrastructure becomes power- and reliability-limited, MPS can keep taking premium “power bottleneck” sockets (controllers + integrated modules) and add sticky software/security layers (telemetry, provenance) that defend pricing and raise dollar-content per rack and per vehicle through 2030.
|
| 113 |
COHR
|
ai
communications
hardware
networking
semiconductors
|
Coherent Corp.
|
1.8x
|
0.60
|
AI compute scaling is turning bandwidth and power constraints into an “optics-first” bottleneck; Coherent can compound by shipping higher-speed interconnect at volume while shrinking leverage, but its 2030 valuation likely normalizes as buyers multi-source and pricing tightens.
|
| 114 |
CDNS
|
ai
enterprise
hardware
semiconductors
software
|
Cadence Design Systems, Inc.
|
1.8x
|
0.70
|
Cadence sits on the “AI silicon critical path”: as AI drives design complexity (verification, advanced packaging, multiphysics, security), EDA becomes an always-on productivity layer, and Cadence can compound revenue by embedding AI agents + trust/compliance into workflows while expanding into system analysis—though valuation is sensitive to multiple compression and China/export-policy shocks.
|
| 115 |
PWR
|
communications
energy
|
Quanta Services, Inc.
|
1.8x
|
0.60
|
Quanta is becoming the scarce execution layer for AI-driven electricity demand and grid rebuild; if it converts backlog into repeatable “program work” and adds productized modules + software-like workflows, it can sustain above-market growth while defending a premium contractor multiple through 2030.
|
| 116 |
SITM
|
ai
hardware
networking
semiconductors
|
SiTime Corporation
|
1.8x
|
0.60
|
As AI/datacenter scaling tightens jitter/sync/reliability budgets, SiTime can expand content-per-system (oscillators → clocks/sync → resonators and software) and monetize “time integrity” features, driving a durable step-up in revenue by 2030—while the main swing factor is whether today’s premium valuation can compress gracefully rather than violently.
|
| 117 |
NTRA
|
ai
biotech
healthcare
software
|
Natera, Inc.
|
1.8x
|
0.60
|
Natera can compound by making tumor-informed cancer monitoring routine (more tumors, more payer pathways, higher testing cadence) while layering higher-margin data/AI licensing and partner-lab software—supporting 2030 scale with a still-premium diagnostics multiple.
|
| 118 |
ASML
|
ai
automation
hardware
semiconductors
|
ASML Holding N.V.
|
1.8x
|
0.80
|
ASML remains the choke-point for leading-edge compute scaling; if High-NA ramps and “holistic lithography” shifts mix toward software/service outcomes, revenue can compound while cyclicality falls—supporting a still-premium 2030 multiple despite export-control drag.
|
| 119 |
MU
|
ai
cloud
hardware
semiconductors
|
Micron Technology, Inc.
|
1.8x
|
0.65
|
Micron is positioned to convert AI-led memory scarcity into higher through-cycle revenue and a better-quality multiple by shifting mix toward premium AI data-center memory, scaling advanced packaging, and adding trust/contracting layers that reduce pure spot-cycle exposure—while accepting heavy capex as the price of staying on the frontier.
|
| 120 |
FN
|
ai
communications
hardware
networking
|
Fabrinet
|
1.8x
|
0.60
|
AI clusters are shifting the bottleneck from compute to bandwidth; Fabrinet’s trusted photonics manufacturing can scale materially with next-gen optics ramps, but equity upside is capped by customer concentration and likely valuation multiple normalization as capacity catches up.
|
| 121 |
PLTR
|
ai
cloud
defense
enterprise
software
|
Palantir Technologies Inc.
|
1.8x
|
0.70
|
Palantir can grow into a de facto “regulated agent control plane” (government + critical infrastructure + large enterprise), but 2030 upside still requires converting today’s AIP momentum into repeatable platform distribution (partners + standards) while surviving inevitable multiple compression.
|
| 122 |
EQIX
|
ai
cloud
energy
enterprise
networking
|
Equinix, Inc.
|
1.7x
|
0.70
|
Equinix compounds as the neutral “exchange layer” for AI-era hybrid connectivity: scarce metro power + dense ecosystems + productized interconnection let it keep premium pricing and grow high-margin attach, even through a heavy build cycle.
|
| 123 |
AVGO
|
ai
cloud
networking
semiconductors
software
|
Broadcom Inc.
|
1.7x
|
0.70
|
Broadcom can compound through 2030 by being a small-number-of-customers “must-ship” supplier in AI clusters (custom accelerators + Ethernet/optics) while using VMware Cloud Foundation to tax private-cloud modernization and private AI governance—supporting premium valuation if it proves AI margin durability and contains VMware churn.
|
| 124 |
HPE
|
ai
cloud
enterprise
hardware
networking
|
Hewlett Packard Enterprise Company
|
1.7x
|
0.60
|
HPE can turn enterprise private AI buildouts into a repeatable platform business by bundling AI systems + Juniper-scaled networking + lifecycle operations and financing; if execution holds, mix improves and the market pays more than “box-seller” pricing by 2030.
|
| 125 |
GOOG
|
advertising
ai
cloud
software
transportation
|
Alphabet Inc.
|
1.6x
|
0.80
|
Alphabet can compound through 2030 by turning AI into higher-value intent capture (Search/YouTube), scaling a TPU-led Cloud platform, and adding trust rails (verification + explicit data licensing) that raise ad quality and unlock agent-led workflows; the main limiter is policy remedies plus sustained infrastructure spend that caps multiple expansion.
|
| 126 |
STEM
|
ai
energy
enterprise
software
|
Stem, Inc.
|
1.6x
|
0.65
|
If Stem sustains its 2025 pivot to higher-margin recurring software + managed services (and makes PowerTrack EMS a repeatable deployment motion), equity can compound mainly through de-risking and steadier ARR—while optionality exists in data-center energy optimization and platform ecosystem expansion.
|
| 127 |
ETN
|
aerospace
automation
energy
hardware
software
|
Eaton Corporation plc
|
1.6x
|
0.60
|
Eaton compounds as the “grid-to-chip” bottleneck: AI data-center power density and grid capex keep demand and pricing resilient, while Boyd Thermal expands Eaton into liquid cooling and sets up higher-value lifecycle service/software attach—offset by premium valuation and execution risk on capacity + M&A.
|
| 128 |
LITE
|
ai
automation
hardware
networking
semiconductors
|
Lumentum Holdings Inc.
|
1.5x
|
0.60
|
AI-scale data centers are bandwidth- and power-limited; Lumentum’s vertically integrated photonics can ride 800G→1.6T and optical switching, but equity upside to 2030 is capped by today’s premium valuation unless it adds “stickier” software/security attach and de-risks cyclicality via capacity contracts.
|
| 129 |
NEE
|
automation
energy
nuclear
|
NextEra Energy, Inc.
|
1.5x
|
0.65
|
As AI/data-center load and electrification tighten power availability, reliability + fast interconnection become premium products; NextEra can compound via Florida utility growth plus a renewables/storage factory, with additional upside from nuclear restarts and “compute-ready” campus-style offerings—gated mainly by permitting and cost of capital.
|