| 1 |
HURA
|
biotech
healthcare
|
TuHURA Biosciences, Inc.
|
14.4x
|
0.40
|
If IFx-2.0’s SPA-backed Phase 3 shows a credible response lift with manageable safety and TuHURA secures non-dilutive partnering, the stock can re-rate from “financing risk micro-cap” to a partnerable combo-asset with scalable label-expansion options by 2031.
|
| 2 |
NTLA
|
biotech
healthcare
|
Intellia Therapeutics, Inc.
|
11.5x
|
0.40
|
If lonvo-z delivers clean Phase 3 durability/safety and launches in 2027 with payer-ready annuity contracting, NTLA can re-rate from “platform on probation” to a scalable rare-disease franchise; ATTR is upside optionality, not the base underwriting.
|
| 3 |
ETH
|
crypto
finance
software
|
Ethereum Network
|
7.2x
|
0.80
|
ETH is a leveraged claim on credible-neutral programmable settlement: if scaling upgrades keep landing and Ethereum re-captures a meaningful share of ecosystem + ordering economics (not just L2 UX), today’s low-ish L1 value-capture can compound into a durable 2031 re-rate.
|
| 4 |
MSTR
|
ai
crypto
enterprise
finance
software
|
Strategy Inc.
|
6.5x
|
0.70
|
If Bitcoin continues monetizing as global collateral, Strategy can re-open an accretive funding flywheel (common + preferred + debt) to compound BTC-per-share; a modest sustained premium to its bitcoin backing plus “Treasury OS / governed agents” software adds non-linear upside while the USD Reserve reduces forced-sale risk.
|
| 5 |
BTC
|
crypto
energy
finance
|
Bitcoin Network
|
6.3x
|
0.85
|
Bitcoin’s upside remains non-linear: if it keeps winning as the neutral, institutionally-acceptable digital collateral asset while L2s absorb payments/stablecoin flows, it can compound from “portfolio hedge” to “reserve-grade settlement,” supporting a mid-teens-trillion network value by 2031 even if L1 stays conservative.
|
| 6 |
QUBT
|
ai
cybersecurity
networking
quantum
semiconductors
|
Quantum Computing Inc.
|
6.3x
|
0.60
|
QCi’s edge is not “better qubits,” it’s domestic photonics manufacturing + security packaging: if it turns its TFLN foundry into qualified, repeatable shipments and integrates Luminar Semiconductor into a scaled components platform, it can earn a durable role in AI interconnect and high-assurance comms by 2031.
|
| 7 |
POL
|
crypto
finance
networking
software
|
Polygon Network
|
6.0x
|
0.60
|
POL’s non-linear upside is shifting from “cheap gas” to paid coordination: if AggLayer becomes a default cross-chain routing + security fabric (intents, shared services, enterprise payments kits), Polygon can grow protocol value-capture faster than raw transaction fees and re-rate from a commodity L2 token toward an interoperability/security asset.
|
| 8 |
AISP
|
ai
cybersecurity
defense
hardware
software
|
Airship AI Holdings, Inc.
|
5.9x
|
0.60
|
AISP can re-rate from lumpy edge-hardware projects to a repeatable security software platform by turning federal wins into standardized deployments and attaching high-margin trust modules (evidence integrity, orchestration, certified third-party models) as AI-driven surveillance and verification become mandatory in the Last Economy.
|
| 9 |
ATOM
|
crypto
finance
networking
software
|
Cosmos Hub
|
5.8x
|
0.40
|
ATOM is a distressed option on the Hub becoming a default interchain router + app platform: if Eureka routing becomes a paid service and the Hub successfully hosts fee-generating apps (CosmWasm + Token Factory), ATOM can re-rate from diluted staking beta to visible infrastructure cashflows.
|
| 10 |
AVAX
|
crypto
enterprise
finance
software
|
Avalanche Network
|
5.8x
|
0.60
|
AVAX is a convex bet that compliance-friendly tokenization + stablecoin settlement expands on-chain “payments + collateral” throughput, and Avalanche’s multi-chain deployment model converts that flow into sustained AVAX staking demand and fee-burn despite heavy L1 competition.
|
| 11 |
PRME
|
biotech
healthcare
|
Prime Medicine, Inc.
|
5.6x
|
0.50
|
Prime editing has crossed the credibility threshold in humans (PM359), and if PRME converts that into 2026 liver INDs plus repeatable partnering, it can shift from “single-asset R&D” to a modular platform with non-linear re-rating as first in-human in vivo readouts arrive in 2027 and beyond.
|
| 12 |
DOT
|
ai
crypto
finance
networking
software
|
Polkadot Network
|
5.5x
|
0.60
|
DOT is a mispriced option on Polkadot turning shared security + a programmable capacity market into “cloud primitives” (compute, messaging, settlement) for apps and AI agents; if Revive smart contracts and Ethereum connectivity make the Hub a default routing surface, fees/burn can compound and DOT can re-rate.
|
| 13 |
RLAY
|
ai
biotech
healthcare
|
Relay Therapeutics, Inc.
|
5.5x
|
0.40
|
Relay’s 5-year upside is a Phase-3-to-launch transition: if zovegalisib shows a clear benefit-risk edge vs the evolving standard of care, the company can move from “cash-backed option” to a scaled oncology revenue ramp, with additional optionality from platform-enabled partnering that lowers dilution and increases shots-on-goal.
|
| 14 |
PDYN
|
aerospace
ai
defense
robotics
software
|
Palladyne AI Corp.
|
5.5x
|
0.70
|
PDYN’s non-linear upside is turning “edge autonomy + avionics + U.S. manufacturing” into a repeatable, certifiable deployment stack for defense and industrial robots, so it earns both program revenue now and higher-multiple autonomy/assurance subscriptions as fleets scale.
|
| 15 |
NNOX
|
ai
cloud
healthcare
medical devices
software
|
Nano-X Imaging Ltd
|
5.3x
|
0.40
|
Nanox can compound non-linearly if it turns its early installed base into a repeatable “scan-to-report” engine: reliable deployments + fast implementations + AI attach + reading/services, shifting the story from hardware pilots to recurring workflow revenue by 2031.
|
| 16 |
MBLY
|
ai
automotive
robotics
semiconductors
software
|
Mobileye Global Inc.
|
5.2x
|
0.65
|
Mobileye can turn EyeQ6H “Surround” design wins into a 2027–2029 volume step-up, then expand dollars-per-vehicle via higher autonomy content and recurring safety/mapping/validation + security services; robotics is an upside option, not required for the base case.
|
| 17 |
SPIR
|
ai
communications
defense
software
space
|
Spire Global, Inc.
|
5.2x
|
0.60
|
With maritime divested and debt removed, Spire can convert a $200M+ contracted backlog into higher-trust, higher-SLA weather and RF intelligence subscriptions—if it fixes reporting/governance and proves break-even ops—earning a durable “space data utility” multiple by 2031.
|
| 18 |
FIL
|
ai
cloud
crypto
enterprise
|
Filecoin Network
|
5.0x
|
0.70
|
FIL’s upside is non-linear if Filecoin converts its global storage supply into metered, verifiable data services (storage + delivery + programmable payments) where paid usage—not subsidized capacity—becomes the dominant driver of FIL demand, sinks (burns/locks), and investor multiples by 2031.
|
| 19 |
APUS
|
ai
biotech
crypto
finance
healthcare
|
Apimeds Pharmaceuticals US, Inc.
|
4.9x
|
0.40
|
If APUS turns the MindWave treasury stack into a credible, auditable enterprise product while advancing Apitox through pivotal execution, it can upgrade from “microcap option” to a funded platform with multiple shots on goal (drug + treasury tooling) despite heavy governance and capital-structure friction.
|
| 20 |
SOL
|
ai
crypto
finance
software
|
Solana Network
|
4.8x
|
0.70
|
If Solana turns “fast single-state composability” into payments- and agent-grade reliability while capturing more execution value (not just activity), SOL can compound with a step-function rerating as TradFi and AI-driven commerce increase demand for real-time on-chain settlement.
|
| 21 |
BEAM
|
ai
biotech
healthcare
|
Beam Therapeutics Inc.
|
4.6x
|
0.50
|
If Beam converts early clinical proof in liver base-editing into a registrational path while keeping its blood-disorder program on track, the stock can re-rate from “pre-revenue R&D option” to “multi-asset genetic-medicine platform,” with added upside from platform monetization (conditioning, data/AI-driven design) and improved non-dilutive funding capacity.
|
| 22 |
CRSP
|
biotech
healthcare
|
CRISPR Therapeutics AG
|
4.5x
|
0.50
|
CRSP’s non-linear upside into 2031 is a platform re-rate: CASGEVY matures from “first approvals” into repeatable center throughput, while CTX310’s human proof-of-concept and SyNTase expand the addressable set from rare blood diseases into cardiometabolic and precision correction—compounding via better prediction (AI-guided design), better rails (center ops + payer workflows), and partner-funded scaling.
|
| 23 |
SERV
|
ai
automation
robotics
software
transportation
|
Serve Robotics Inc.
|
4.4x
|
0.70
|
SERV’s non-linear upside is turning a 2,000-robot base into a high-utilization urban delivery utility (food + parcels/returns + premium regulated SKUs) while layering software/dispatch APIs to reduce platform dependence; if it proves repeatable city launches and improving autonomy/ops leverage, equity can compound materially into 2031.
|
| 24 |
AI
|
ai
cloud
enterprise
software
|
C3.ai, Inc.
|
4.2x
|
0.50
|
If the new CEO converts partner-led Federal/regulated demand into repeatable, accredited production deployments (FedRAMP as a distribution unlock) while keeping delivery software-like, C3.ai can re-accelerate consumption/subscription growth, reduce services drag, and re-rate as a trusted “audited execution layer” for enterprise agents.
|
| 25 |
RXRX
|
ai
automation
biotech
healthcare
software
|
Recursion Pharmaceuticals, Inc.
|
4.1x
|
0.65
|
If the new CEO converts Recursion OS + Exscientia-enabled chemistry into repeatable clinical proof and more predictable platform revenue (not just milestones), RXRX can re-rate from “catalyst biotech” to a scaled platform biotech by 2031.
|
| 26 |
LINK
|
ai
crypto
finance
networking
software
|
Chainlink Network
|
4.0x
|
0.70
|
Chainlink’s upside is a non-linear monetization inflection: turning “used everywhere” into “paid everywhere” via Payment Abstraction + the Reserve, while CCIP + SVR expand the payable surface area from DeFi into institutional settlement and tokenized assets.
|
| 27 |
AMPX
|
aerospace
automotive
defense
energy
hardware
|
Amprius Technologies, Inc.
|
3.9x
|
0.60
|
Amprius can compound non-linearly by turning a proven performance lead in drone/aviation cells into repeatable partner-scale production, then layering higher-margin licensing/telemetry and “trusted supply” SKUs that raise switching costs in mission-critical fleets.
|
| 28 |
AUR
|
ai
robotics
software
transportation
|
Aurora Innovation, Inc.
|
3.7x
|
0.70
|
Aurora’s non-linear upside is converting “driverless miles” into an OEM-integrated, SLA-grade autonomous trucking service where verified safety + uptime become the product—unlocking multi-billion revenue once hardware industrialization (2027) turns pilots into repeatable fleet rollouts.
|
| 29 |
SDGR
|
ai
biotech
cloud
healthcare
software
|
Schrödinger, Inc.
|
3.7x
|
0.70
|
SDGR can re-rate from “scientific tools + lumpy milestones” to a higher-trust molecular R&D operating system by pushing workflows into hosted/usage delivery, packaging auditability/security as a paid tier, and keeping therapeutics option value partner-funded—compounding software visibility while preserving biotech upside.
|
| 30 |
FIVN
|
ai
cloud
communications
enterprise
software
|
Five9, Inc.
|
3.6x
|
0.40
|
Five9 can compound through 2031 by shifting CCaaS monetization from “agent seats” toward AI-driven, outcome-priced resolution and trust/security add-ons, letting modest revenue growth + margin expansion drive a meaningful multiple re-rate from today’s depressed valuation—if it proves reliable autonomy in enterprise workflows.
|
| 31 |
POET
|
ai
communications
hardware
networking
semiconductors
|
POET Technologies Inc.
|
3.6x
|
0.60
|
POET is a “proof-of-repeatable-volume” call option on AI interconnect scaling: if its Optical Interposer platform converts 2026 pilot orders into high-yield, high-cadence shipments across multiple customers, it can earn a durable component position in next-gen datacenter links and grow into a credible merchant photonics platform by 2031.
|
| 32 |
S
|
ai
cloud
cybersecurity
enterprise
software
|
SentinelOne, Inc.
|
3.6x
|
0.60
|
SentinelOne can compound from endpoint challenger to an AI-automated SecOps control plane (data + reasoning + response), with non-linear upside if agentic workflows materially reduce SOC labor and expand platform attach, enabling durable re-acceleration and a partial multiple re-rate despite bundling pressure.
|
| 33 |
OUST
|
ai
automation
automotive
hardware
robotics
|
Ouster, Inc.
|
3.6x
|
0.60
|
Ouster’s non-linear upside is turning “digital lidar shipments” into a software-attached operating system for real-world safety and flow (intersections, yards, perimeters), where trust, uptime, and deploy-at-scale integrations compound faster than sensor ASP erosion.
|
| 34 |
RIOT
|
ai
cloud
crypto
energy
hardware
|
Riot Platforms, Inc.
|
3.5x
|
0.60
|
RIOT’s non-linear upside is a credible identity shift from BTC-cycle miner to “power + campus + build-system” operator: mining remains the swing load, while contracted high-density compute and adjacent power/engineering monetization drive a higher through-cycle multiple by 2031.
|
| 35 |
BKSY
|
aerospace
ai
defense
software
space
|
BlackSky Technology Inc.
|
3.5x
|
0.70
|
If Gen-3 launch+commissioning cadence stays tight and BlackSky productizes “monitoring + automated alerts + provenance” into repeatable subscriptions, it can compound revenues faster than satellites and earn a higher-quality multiple despite ongoing capex and government-lumpy demand.
|
| 36 |
CORZ
|
ai
cloud
crypto
energy
hardware
|
Core Scientific, Inc.
|
3.4x
|
0.70
|
CORZ is a “scarce power → contracted compute” conversion story: if it expands beyond its anchor tenant while commissioning MW on-time, it can re-rate from miner-like cyclicality toward infrastructure-like value as multi-year, dollar-denominated AI colocation becomes the underwriting base.
|
| 37 |
NBIS
|
ai
cloud
hardware
software
|
Nebius Group N.V.
|
3.4x
|
0.80
|
Nebius can turn power-and-GPU scarcity into long-dated contracted AI infrastructure revenue, then defend price and utilization by productizing its control plane (security, observability, partner-operated regions) to become a platform—not just a builder/operator.
|
| 38 |
SMCI
|
ai
cloud
enterprise
hardware
|
Super Micro Computer, Inc.
|
3.3x
|
0.60
|
If Supermicro turns AI-server “design wins” into predictable, high-throughput shipments (and attaches lifecycle software/services), it can compound revenue materially while earning a modest multiple lift from improved trust and cash conversion.
|
| 39 |
IREN
|
ai
cloud
crypto
energy
hardware
|
IREN Limited
|
3.3x
|
0.70
|
IREN’s non-linear upside is turning scarce, grid-connected power into long-duration AI revenue: the Microsoft anchor (200MW) proves hyperscaler-grade delivery, and incremental MW monetization (AI cloud + colo) can re-rate IREN from a cyclical miner to a contracted compute utility—if it executes without schedule slips or runaway dilution.
|
| 40 |
DNA
|
ai
automation
biotech
enterprise
healthcare
|
Ginkgo Bioworks Holdings, Inc.
|
3.2x
|
0.60
|
If the turnaround converts Ginkgo from lumpy, bespoke cell-engineering into repeatable tools (automation + software control + datasets) while keeping biosecurity on multi-year renewals, revenue quality can improve enough to earn a modest re-rate despite biology’s inherent variability and higher support burden than pure software.
|
| 41 |
SMR
|
energy
nuclear
|
NuScale Power Corporation
|
3.2x
|
0.60
|
If ENTRA1-led frameworks convert into binding offtake + financeable first builds, NuScale’s NRC-approved design can scale like a fleet-licensed product (licensing + recurring services). If conversion stays “headline-only,” cash burn, milestone outflows, and dilution dominate per-share outcomes.
|
| 42 |
ACHR
|
aerospace
defense
evtol
software
transportation
|
Archer Aviation Inc.
|
3.1x
|
0.60
|
Archer’s non-linear upside is a “certification → safe high-tempo ops → repeatable city playbook” re-rate, de-risked by (1) fortress liquidity, (2) owning a scarce LA operating hub (Hawthorne), and (3) earlier defense/powertrain revenue that can bridge the passenger ramp into 2030.
|
| 43 |
BFLY
|
ai
hardware
healthcare
medical devices
software
|
Butterfly Network, Inc.
|
3.1x
|
0.60
|
Butterfly can compound from a probe seller into the governed, interoperable POCUS operating layer (documentation, QA, credentialing, billing capture) via Compass AI—turning “bedsides scans” into auditable revenue events and lifting durable software mix, with upside from licensing and trials if execution proves repeatable ROI.
|
| 44 |
RCAT
|
ai
defense
hardware
robotics
software
|
Red Cat Holdings, Inc.
|
3.1x
|
0.60
|
If Red Cat converts its Army beachhead into repeatable high-rate production and attaches sustainment + mission-software + security/compliance tooling, it can grow into a scaled, cash-supported defense-robotics OEM while today’s “priced-for-scale” multiple compresses into a more normal defense-tech range.
|
| 45 |
TWST
|
ai
automation
biotech
healthcare
|
Twist Bioscience Corporation
|
3.1x
|
0.60
|
As AI cheapens biological design, Twist can compound as the scaled “write + verify + ship” layer for biological code—turning gross-margin gains into self-funded growth, and adding higher-trust regulated supply + compliance/data software that supports a durable valuation re-rate by 2031.
|
| 46 |
INOD
|
ai
enterprise
healthcare
media
software
|
Innodata Inc.
|
3.1x
|
0.60
|
As cognition becomes cheap, demand shifts to trusted data + continuous model evaluation/security. Innodata can compound by scaling pre-training and evaluation work, expanding into federal/regulated “sovereign” delivery, and productizing its workflow tooling—while reducing single-customer dependence to defend a still-premium (but compressing) multiple into 2031.
|
| 47 |
WULF
|
ai
cloud
crypto
energy
hardware
|
TeraWulf Inc.
|
3.0x
|
0.70
|
WULF is trying to reprice from BTC-miner volatility to contracted “compute real estate” by converting scarce, power-dense campuses into long-duration, credit-enhanced AI/HPC leases; if 2026–2028 MW deliveries stay on-schedule, revenue can step-function and equity can compound despite a heavy project-debt stack.
|
| 48 |
RR
|
ai
automation
enterprise
hardware
robotics
|
Richtech Robotics Inc.
|
3.0x
|
0.70
|
Richtech’s non-linear upside is turning real-world service-robot deployments into a scaled RaaS fleet plus a sticky operations software layer; if it proves repeatable multi-site rollouts and uptime-grade support, revenue can compound while the stock outcome hinges on dilution discipline and unit economics.
|
| 49 |
CRWV
|
ai
cloud
hardware
software
|
CoreWeave, Inc.
|
2.9x
|
0.75
|
CoreWeave can grow from a debt-funded GPU buildout into a scaled “compute utility + platform attach” by converting its contracted backlog into delivered megawatts, then defending pricing with workflow software, security/compliance SKUs, and reliability guarantees as raw GPU-hours gradually commoditize.
|
| 50 |
AAOI
|
ai
communications
hardware
networking
semiconductors
|
Applied Optoelectronics, Inc.
|
2.9x
|
0.60
|
AAOI’s non-linear upside is converting 800G from “first volume order” into repeat, multi-customer ramps while its onshored capacity comes online; if it controls yields + working capital and adds higher-value laser/PIC adjacencies, it can scale to multi‑billion revenue and earn a steadier, higher-quality multiple by 2031.
|
| 51 |
IONQ
|
cloud
cybersecurity
defense
hardware
quantum
|
IonQ, Inc.
|
2.8x
|
0.60
|
IonQ’s non-linear upside is turning “quantum is coming” into contracted, audited infrastructure (compute + networking/security + timing/sensing), using its cash war-chest to standardize delivery, win sovereign/critical-infra buyers, and earn software-like recurring revenue before architecture winners fully converge.
|
| 52 |
AMD
|
ai
cloud
enterprise
hardware
semiconductors
|
Advanced Micro Devices, Inc.
|
2.5x
|
0.80
|
AMD can compound value by converting “credible #2 silicon” into a repeatable rack-scale AI platform (CPU+GPU+NIC+software), benefiting from multi-sourcing and sovereign/enterprise buildouts, while adding higher-margin software/services attach that reduces cyclicality and lifts long-duration customer switching costs.
|
| 53 |
COIN
|
crypto
enterprise
finance
software
|
Coinbase Global, Inc.
|
2.5x
|
0.70
|
Coinbase can de-cycle from spot-fee dependence into regulated onchain financial infrastructure—derivatives, stablecoin rails, tokenized collateral workflows, and compliance/security primitives—so the market underwrites it closer to a market-structure platform than a crypto broker by 2031.
|
| 54 |
SOUN
|
ai
automotive
enterprise
software
|
SoundHound AI, Inc.
|
2.5x
|
0.60
|
Voice becomes the default “action UI” as cognition gets commoditized; if SoundHound converts its auto + restaurant footprint into repeatable agent deployments and transaction monetization (plus lower inference cost), revenue can compound non-linearly while the company earns a durable mid-single-digit sales multiple by 2031.
|
| 55 |
CRNC
|
ai
automotive
software
|
Cerence Inc.
|
2.5x
|
0.60
|
CRNC can re-rate from “auto feature supplier” to “OEM-controlled in-cabin AI platform” by shipping xUI into series production, lifting per-vehicle economics, and adding high-margin lifecycle software (agents, safety/assurance, and monetization tooling) while staying the neutral partner that preserves OEM brand and data control.
|
| 56 |
PATH
|
ai
automation
cloud
enterprise
software
|
UiPath, Inc.
|
2.4x
|
0.60
|
UiPath can re-accelerate by becoming the governed enterprise “action layer” for agents: orchestration + verification + telemetry loops on top of a large installed base, expanding monetization from task automation into compliant end-to-end execution.
|
| 57 |
TEM
|
ai
biotech
healthcare
software
|
Tempus AI, Inc.
|
2.4x
|
0.70
|
Tempus can turn regulated diagnostics throughput into a compounding, governed data + workflow distribution moat; as cognition gets commoditized, scarce value shifts to trusted longitudinal datasets, embedded ordering/reimbursement rails, and auditable AI modules that biopharma and providers will pay for repeatedly.
|
| 58 |
TSLA
|
ai
automotive
energy
hardware
robotics
|
Tesla, Inc.
|
2.4x
|
0.70
|
Over the next 5 years Tesla can defend a tech-like valuation by shifting mix from cyclic EV margin to higher-frequency, higher-trust revenue (autonomy/ops software, charging + energy services), while scaling grid storage into datacenter-power demand; the stock’s upside is primarily multiple defense + selective new profit pools, not just more cars.
|
| 59 |
MRVL
|
ai
cloud
hardware
networking
semiconductors
|
Marvell Technology, Inc.
|
2.4x
|
0.60
|
As AI clusters scale from “boxes” to fleet-scale systems, the limiting reagent shifts to connectivity (bandwidth, latency, power, reliability). Marvell can compound by owning more of the custom-silicon + switching + optical interconnect bill-of-materials, with M&A accelerating its roadmap if it sustains hyperscaler sockets.
|
| 60 |
HUT
|
ai
cloud
crypto
energy
|
Hut 8 Corp.
|
2.4x
|
0.75
|
Hut 8’s non-linear upside is proving it can convert scarce, deliverable megawatts into investment-grade-backed AI campus leases (starting with River Bend), then repeat the playbook via project finance and capital recycling to scale toward a multi-site platform that earns a “contracted infrastructure” valuation rather than a BTC-proxy discount.
|
| 61 |
LMND
|
ai
finance
software
|
Lemonade, Inc.
|
2.4x
|
0.60
|
If Lemonade turns its Q3’25 underwriting and automation gains into repeatable auto scale (more states, higher cross-sell) while retaining more premium (lower quota-share cede), it can compound revenue several-fold and earn a durable premium valuation versus legacy insurers despite inevitable multiple compression as it matures.
|
| 62 |
DDOG
|
ai
cloud
cybersecurity
enterprise
software
|
Datadog, Inc.
|
2.4x
|
0.70
|
Datadog can compound into an AI-era production control plane: more AI/software complexity creates more telemetry and more failure modes, and Datadog’s opportunity is to convert that telemetry into trusted, automated action (reliability + security + cost optimization) that expands wallet share per customer while sustaining premium platform relevance.
|
| 63 |
APLD
|
ai
cloud
energy
hardware
|
Applied Digital Corporation
|
2.4x
|
0.70
|
APLD is monetizing power scarcity by converting North Dakota campuses into long-duration AI infrastructure cash flows; if it keeps hitting delivery milestones and funds expansion with mostly asset-level capital (not repeated equity), the equity can compound as the business rerates from “crypto host” to contracted AI infrastructure platform.
|
| 64 |
ALAB
|
ai
enterprise
hardware
networking
semiconductors
|
Astera Labs, Inc.
|
2.3x
|
0.80
|
AI rack complexity is turning interconnect from “parts” into a managed platform; Astera can compound dollars-per-rack via PCIe/CXL attach, fabric switching, custom scale-up, and early optical I/O, sustaining rapid revenue growth even if multiples normalize.
|
| 65 |
CRDO
|
ai
hardware
networking
semiconductors
|
Credo Technology Group Holding Ltd
|
2.3x
|
0.80
|
Credo is positioned to compound as AI clusters scale because bandwidth/power/reliability bottlenecks push operators toward proven, power-efficient interconnect; if it expands from today’s copper wins into optics/scale-up plus security/observability attach, it can grow into a multi-franchise connectivity supplier that sustains a premium (but compressing) multiple.
|
| 66 |
AMBA
|
ai
automotive
hardware
robotics
semiconductors
|
Ambarella, Inc.
|
2.3x
|
0.65
|
Ambarella can convert performance-per-watt leadership into a more durable edge-AI platform (developer ecosystem + secure feature unlock + trust/security options), lifting ASPs and software/royalty mix while diversifying distribution—supporting 2x+ EV growth by 2031 if execution sustains beyond the current chip cycle.
|
| 67 |
RGTI
|
cloud
enterprise
hardware
quantum
|
Rigetti Computing, Inc.
|
2.3x
|
0.60
|
Rigetti is a cash-backed, full-stack superconducting quantum bet: if it turns roadmap progress into repeatable product motions (on-prem systems, managed “quantum racks,” and a foundry/PDK ecosystem), revenue can inflect non-linearly by 2031—enough to justify meaningful upside even if GAAP profits stay thin.
|
| 68 |
JBL
|
ai
automation
cloud
hardware
medical devices
|
Jabil Inc.
|
2.3x
|
0.60
|
Jabil can compound like an AI-infrastructure industrialization platform (not a commodity EMS) by scaling rack-level power + thermal + integration, then layering higher-margin lifecycle/field services and compliance-grade manufacturing that increases switching costs and supports a structurally higher revenue multiple.
|
| 69 |
RDVT
|
ai
cybersecurity
enterprise
software
|
Red Violet, Inc.
|
2.3x
|
0.70
|
AI makes fraud, account takeovers, and synthetic abuse cheaper; buyers respond by shifting spend to real-time, auditable identity decisions. Red Violet can compound its identity graph into embedded trust APIs (marketplaces, AML/KYC, call-centers) and agentic investigation tooling while staying capital-light, using cash generation and buybacks to amplify per-share value into 2031.
|
| 70 |
AVAV
|
aerospace
ai
defense
robotics
space
|
AeroVironment, Inc.
|
2.3x
|
0.70
|
AV can compound as drone-centric warfare becomes standard: if it converts backlog/IDIQs into repeatable high-rate production while turning BlueHalo’s counter-UAS/EW/space stack into a software-led “effects platform,” it can keep a growth multiple well above legacy primes through 2031.
|
| 71 |
FLNC
|
energy
software
|
Fluence Energy, Inc.
|
2.3x
|
0.60
|
If Fluence makes execution “boring” (on-time, low-incident deliveries + tighter working capital) and attaches optimization, cyber, and long-term service to every system, it can re-rate from project integrator toward grid control-plane—amplified by AI-driven load growth and power volatility.
|
| 72 |
ESTC
|
ai
cloud
cybersecurity
enterprise
software
|
Elastic N.V.
|
2.3x
|
0.70
|
Elastic can compound by becoming the neutral “enterprise retrieval + telemetry evidence” layer for AI-heavy organizations: cloud/serverless expansion plus premium trust features (provenance, tamper-evidence, governance) create a credible path to faster growth and modest multiple re-rating versus today’s “tooling” valuation.
|
| 73 |
NET
|
ai
cloud
cybersecurity
networking
software
|
Cloudflare, Inc.
|
2.2x
|
0.80
|
Cloudflare can compound into a larger, higher-trust “internet control plane” as AI increases attack surface and shifts spend toward inline security, verification, and low-latency edge compute; if it executes on resilience + enterprise platformization (Workers + Zero Trust), it can expand TAM faster than incumbents and sustain premium growth through 2031.
|
| 74 |
ZS
|
ai
cloud
cybersecurity
networking
software
|
Zscaler, Inc.
|
2.2x
|
0.70
|
Zscaler can turn its in-line enterprise “policy choke point” into an AI-era control-plane: consolidate secure access + data protection, then layer autonomous remediation, agent identity/tool-use policy, and partner-delivered “policy apps,” sustaining ~20% growth while keeping a premium (but compressing) revenue multiple.
|
| 75 |
OKLO
|
energy
nuclear
|
Oklo Inc.
|
2.2x
|
0.80
|
Oklo’s non-linear upside is converting AI/defense “must-have” firm power demand into bankable contracts, then repeating a licensed reactor template fast enough to be valued as a scarce clean baseload platform (not a one-off project) by 2031—despite dilution and high regulatory/capex friction.
|
| 76 |
QBTS
|
ai
cloud
enterprise
hardware
quantum
|
D-Wave Quantum Inc.
|
2.2x
|
0.60
|
QBTS can compound if it converts “quantum value today” into repeatable enterprise products (workflow-embedded optimization + sovereign on‑prem nodes) while monetizing its cryogenic-control scaling IP; the 5-year upside comes from shifting mix toward recurring, auditable outcomes rather than lumpy system sales.
|
| 77 |
BBAI
|
ai
cybersecurity
defense
enterprise
software
|
BigBear.ai Holdings, Inc.
|
2.2x
|
0.60
|
BigBear.ai’s non-linear upside is turning “mission AI deployment” into repeatable platform revenue: Ask Sage becomes the secure GenAI front-end while ConductorOS + identity/vision products standardize edge and border workflows—raising recurrence, margins, and valuation durability despite federal lumpiness.
|
| 78 |
SNOW
|
ai
cloud
enterprise
software
|
Snowflake Inc.
|
2.2x
|
0.70
|
Snowflake can compound as the governed, multi-cloud AI data plane: keep core consumption growing, add Postgres + AI workloads close to sensitive data, and monetize trust (provenance/attestation) so enterprise AI runs “inside the guardrails,” not in scattered point tools.
|
| 79 |
RMBS
|
ai
cybersecurity
hardware
semiconductors
|
Rambus Inc.
|
2.2x
|
0.60
|
As AI pushes memory bandwidth, power, and reliability into a first-order constraint, Rambus can compound by expanding content per memory module (chips + interface/security IP) and selectively adding “platform” bundles that shorten time-to-ship for Tier-2 silicon teams—supporting durable premium valuation despite some cycle risk.
|
| 80 |
NOW
|
ai
automation
cybersecurity
enterprise
software
|
ServiceNow, Inc.
|
2.2x
|
0.70
|
In a world where AI makes “doing” cheap, enterprises pay for governed execution: ServiceNow can compound by becoming the trusted action-and-audit layer for human+agent work across departments, while Moveworks (AI front door) and Armis (attack-surface visibility) expand workflow volume and security-led spend; multiple compresses but stays premium on durability.
|
| 81 |
ASTS
|
communications
defense
hardware
space
|
AST SpaceMobile, Inc.
|
2.2x
|
0.60
|
ASTS is a cadence-and-distribution bet: if it reliably scales satellites and carrier-grade service through 2026–2027, carriers can bundle “coverage everywhere” as a default entitlement, unlocking a nonlinear step-up in usage and higher-value layers (priority, resilience, sovereign capacity) by 2031.
|
| 82 |
RKLB
|
aerospace
defense
hardware
software
space
|
Rocket Lab Corporation
|
2.1x
|
0.60
|
If Neutron enters reliable service and Space Systems converts recent SDA prime wins into a repeatable constellation-production engine, Rocket Lab can compound revenue >10x by 2031; equity upside is mainly execution-to-scale (not hype), with valuation likely normalizing from today’s extreme EV/Revenue.
|
| 83 |
AMZN
|
advertising
ai
cloud
enterprise
media
|
Amazon.com, Inc.
|
2.1x
|
0.80
|
Amazon can turn today’s AI+logistics capex wave into a higher-quality earnings/FCF profile by (1) selling scarce AI capacity through AWS (custom silicon + clusters), (2) compounding high-margin Ads on commerce and Prime Video intent, and (3) using automation to keep lowering cost-per-unit—supporting a modest multiple lift despite capital intensity.
|
| 84 |
ARM
|
ai
enterprise
hardware
semiconductors
software
|
Arm Holdings plc
|
2.1x
|
0.80
|
Arm is an asset-light “efficiency and compatibility toll” on global compute; as AI pushes power constraints from datacenters to devices, higher-value subsystems and v9 mix can lift royalty-per-chip faster than unit growth, sustaining premium valuation despite rising open-ISA substitution pressure.
|
| 85 |
ON
|
ai
automotive
energy
hardware
semiconductors
|
ON Semiconductor Corporation
|
2.1x
|
0.60
|
In the Last Economy, energy efficiency becomes a first-order constraint; onsemi’s vertically integrated power portfolio plus disciplined buybacks can compound value as AI power ramps and auto/industrial normalize.
|
| 86 |
VICR
|
ai
defense
enterprise
hardware
semiconductors
|
Vicor Corporation
|
2.1x
|
0.60
|
If AI racks keep pushing power-delivery density to the critical path, Vicor can win higher content-per-rack (48V/VPD migration) while converting enforcement wins into a more repeatable licensing layer—driving a step-up in revenue, even if today’s premium valuation caps equity upside.
|
| 87 |
PL
|
ai
defense
software
space
|
Planet Labs PBC
|
2.1x
|
0.70
|
Planet’s non-linear upside is turning a daily, compounding Earth time-series archive into subscription monitoring outcomes (alerts, compliance, and trusted evidence) for sovereign/defense and regulated industries—while using Pelican-class tasking and AI productization to lift ARPU faster than constellation capex.
|
| 88 |
NVDA
|
ai
hardware
networking
semiconductors
software
|
NVIDIA Corporation
|
2.1x
|
0.90
|
Nvidia can compound into 2031 by expanding from “best chip” to “best time-to-usable compute” via rack-scale platforms, networking, and higher-margin control planes (security, orchestration, marketplaces, and financing) that increase wallet share even if unit share slowly normalizes.
|
| 89 |
CRM
|
ai
cloud
enterprise
software
|
Salesforce, Inc.
|
2.1x
|
0.60
|
If Salesforce turns Agentforce from a feature into a metered, governed “digital labor” line item—grounded in Informatica-grade data governance—revenue can re-accelerate while cash returns keep the downside bounded.
|
| 90 |
ORCL
|
ai
cloud
enterprise
hardware
software
|
Oracle Corporation
|
2.0x
|
0.65
|
Oracle’s non-linear setup is “contract-to-delivery”: if it turns today’s AI-cloud contracted demand into reliably delivered OCI capacity and re-attaches database/apps + enterprise agent governance, it can compound into a scaled enterprise AI utility; the gating item is proving capex-to-cash conversion through the 2026–2028 build phase.
|
| 91 |
KTOS
|
aerospace
communications
defense
hardware
robotics
|
Kratos Defense & Security Solutions, Inc.
|
2.0x
|
0.70
|
Kratos can keep compounding through 2031 by turning “affordable mass” (uncrewed jets + low-cost engines + EW/RF payload hardware) into repeatable, higher-rate production—while using Orbit to attach higher-quality comms/service revenue—so it stays valued as defense-tech growth rather than a lumpy contractor.
|
| 92 |
SYM
|
ai
automation
robotics
software
transportation
|
Symbotic Inc.
|
2.0x
|
0.60
|
If SYM turns its contracted pipeline into a scaled installed base and successfully attaches recurring software/services (security, optimization, forecasting, outcome pricing), it can shift from “project robotics” toward a warehouse control platform and compound value even if hardware multiples compress.
|
| 93 |
MTSI
|
ai
communications
defense
networking
semiconductors
|
MACOM Technology Solutions Holdings, Inc.
|
2.0x
|
0.60
|
MACOM can outgrow “normal analog semis” by monetizing AI-driven bandwidth intensity plus geopolitics-driven trusted supply, expanding from components into higher-value optical subsystems/packaging and contracted specialty capacity—supporting premium growth even if parts of telecom remain cyclical.
|
| 94 |
DELL
|
ai
cloud
enterprise
finance
hardware
|
Dell Technologies Inc.
|
2.0x
|
0.60
|
If Dell turns the AI-server surge into repeatable rack-scale deployments with higher services/financing/software attach (and keeps margins disciplined), it can compound revenue and earn a modest multiple lift versus “cyclical OEM” history by Jan-2031.
|
| 95 |
JOBY
|
aerospace
defense
evtol
software
transportation
|
Joby Aviation, Inc.
|
2.0x
|
0.60
|
Joby’s non-linear upside is a certification-to-scale inflection: once it proves repeatable FAA-approved operations, it can compound through manufacturing rate, airport/partner distribution (Blade/Uber/airlines), and software-led reliability—turning a single aircraft into a multi-city regulated network with hard-to-copy operating data and trust.
|
| 96 |
NTAP
|
ai
cloud
cybersecurity
enterprise
software
|
NetApp, Inc.
|
2.0x
|
0.50
|
NetApp can be the trusted hybrid-multicloud “data plane” for enterprise AI—monetizing all-flash refresh + fast-growing first-party cloud storage services, then layering higher-margin governance and cyber-resilience add-ons that reduce GPU waste and breach/recovery cost, earning a modest but durable re-rate.
|
| 97 |
PANW
|
ai
cloud
cybersecurity
networking
software
|
Palo Alto Networks, Inc.
|
2.0x
|
0.70
|
As AI makes cyber offense cheaper and faster, large enterprises consolidate to fewer trusted security platforms; PANW compounds via cross-sell, identity + observability expansion, and higher automation, sustaining premium cash generation even as headline multiples normalize.
|
| 98 |
TSM
|
ai
hardware
semiconductors
|
Taiwan Semiconductor Manufacturing Company Limited
|
2.0x
|
0.85
|
TSMC is the scarce “compute refinery”: if AI training+inference and chiplet-style system buildouts keep tightening leading-edge wafers and advanced packaging, TSMC can compound revenue while holding a premium infrastructure multiple—despite heavy capex and geopolitics.
|
| 99 |
LSCC
|
ai
cybersecurity
hardware
networking
semiconductors
|
Lattice Semiconductor Corporation
|
2.0x
|
0.60
|
Over the next 5 years, Lattice can turn “secure, low-power programmability at the edge/control-plane” into a higher-content-per-system annuity (AI servers, networking, robots, industrial safety) and defend a premium valuation if it pairs silicon leadership with recurring software/security services and faster time-to-design via cloud tooling.
|
| 100 |
CRWD
|
ai
cloud
cybersecurity
enterprise
software
|
CrowdStrike Holdings, Inc.
|
2.0x
|
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 flywheel + SOC automation, while monetizing trust/sovereignty upgrades—if it avoids reliability shocks and navigates bundle pricing.
|
| 101 |
VST
|
energy
nuclear
|
Vistra Corp.
|
2.0x
|
0.70
|
Power becomes the binding constraint for AI and electrification; Vistra can turn nuclear + flexible gas scale (plus retail load hedging) into longer-dated, higher-quality cash flows and sustained buybacks, shifting investor perception from merchant cyclicality toward contracted reliability infrastructure by 2031.
|
| 102 |
ANET
|
ai
cloud
enterprise
hardware
networking
|
Arista Networks, Inc.
|
1.9x
|
0.60
|
Arista can compound through 2030 by staying the default “production Ethernet” for AI clusters (800G→1.6T) while expanding enterprise campus/WAN and turning operations data + agentic automation into higher-multiple software revenue, with upside from standards leadership (UEC/ESUN) and selective vertical integration where supply-chain risk is highest.
|
| 103 |
MPWR
|
ai
automotive
enterprise
hardware
semiconductors
|
Monolithic Power Systems, Inc.
|
1.9x
|
0.70
|
As AI racks and electrification become power- and reliability-limited, Monolithic Power can keep winning higher-dollar “power bottleneck” sockets (controllers + integrated modules) and selectively add digitally managed power/telemetry features that defend pricing, sustaining above-peer growth through 2031.
|
| 104 |
SNPS
|
ai
automation
enterprise
semiconductors
software
|
Synopsys, Inc.
|
1.9x
|
0.65
|
With Ansys integrated, Synopsys can shift from “selling tools” to “selling engineered outcomes” (faster closure, fewer respins, verified safety/security) and capture more R&D wallet share as AI-era complexity makes verification + simulation the binding constraint—supporting durable premium pricing even while paying down deal debt.
|
| 105 |
MSFT
|
ai
cloud
cybersecurity
enterprise
software
|
Microsoft Corporation
|
1.9x
|
0.80
|
Microsoft is the most likely “enterprise agent operating system”: identity + security + workflow distribution lets it tax AI-driven work while Azure becomes the default governed compute fabric—offset by a multi-year capex wave and rising policy scrutiny of bundling/licensing.
|
| 106 |
PWR
|
communications
energy
|
Quanta Services, Inc.
|
1.9x
|
0.65
|
Quanta is becoming the scarce execution layer for AI-driven electricity demand: if it keeps converting multi-year utility programs into repeatable delivery (training + safety + prefab) and selectively productizes bottlenecks (power electronics, interconnect, permitting workflows), it can outgrow the sector while defending a premium contractor multiple.
|
| 107 |
VRT
|
ai
cloud
energy
enterprise
hardware
|
Vertiv Holdings Co
|
1.9x
|
0.70
|
As AI-driven data-center expansion raises power-density and uptime requirements, Vertiv can grow content-per-megawatt plus services/software attach; even with some multiple compression, sustained execution on orders/backlog and margin roadmap supports a plausible 2x EV by 2031.
|
| 108 |
APP
|
advertising
ai
media
software
|
AppLovin Corporation
|
1.9x
|
0.70
|
AppLovin is an AI-native performance ad marketplace with net-revenue economics and extreme operating leverage; if it extends AXON beyond app installs into commerce and connected-television outcomes while upgrading trust/compliance, revenue can compound fast enough to still deliver strong equity returns even with multiple compression.
|
| 109 |
SITM
|
ai
automotive
hardware
networking
semiconductors
|
SiTime Corporation
|
1.9x
|
0.60
|
As AI/datacenter networks tighten reliability and synchronization budgets, SiTime can expand timing content-per-system (more sockets + higher-performance mix) and add software/licensing attach, driving a step-up in revenue while maintaining a still-premium (but compressing) multiple versus analog peers.
|
| 110 |
CEG
|
energy
enterprise
nuclear
|
Constellation Energy Corporation
|
1.9x
|
0.65
|
In the compute-led load boom, firm 24/7 power becomes a scarcity asset: Constellation can lock premium long-duration contracts off its nuclear fleet, add dispatchable gas/geothermal + a larger retail platform via Calpine, and steadily shift its cash flows from merchant exposure toward “clean reliability” products that earn a higher-quality multiple.
|
| 111 |
COHR
|
ai
automation
hardware
networking
semiconductors
|
Coherent Corp.
|
1.9x
|
0.70
|
AI clusters are turning bandwidth-per-watt into a primary constraint; Coherent can compound by scaling high-speed optics (800G→1.6T→3.2T), pulling more content into photonic switching and transport, and de-risking capex with customer-backed capacity while layering in higher-margin software/security attach.
|
| 112 |
META
|
advertising
ai
communications
hardware
media
|
Meta Platforms, Inc.
|
1.9x
|
0.70
|
Meta can compound value by turning its attention + messaging network into an AI-automated outcomes engine (ads-to-purchase, support, and agent workflows), while using third-party financed data-center capacity to keep compute scaling fast without fully absorbing balance-sheet strain.
|
| 113 |
NTRA
|
ai
biotech
healthcare
software
|
Natera, Inc.
|
1.9x
|
0.60
|
Natera can turn cfDNA from episodic testing into recurring “measurement loops” (oncology surveillance/therapy monitoring, transplant monitoring, CKD pathways) where data, workflow integration, and payer contracts become the moat; upside is non-linear if MRD shifts from “a test” to a managed-care control layer with outcomes-linked reimbursement.
|
| 114 |
PLTR
|
ai
cloud
defense
enterprise
software
|
Palantir Technologies Inc.
|
1.9x
|
0.70
|
Palantir’s non-linear upside is becoming the default “governed agent production layer” for regulated enterprises and allied governments—monetizing secure deployment, auditability, and outcome-linked automation—while the main constraint is valuation: returns depend on revenue compounding fast enough to outrun multiple compression.
|
| 115 |
CLS
|
ai
cloud
enterprise
hardware
networking
|
Celestica Inc.
|
1.9x
|
0.60
|
Celestica can compound through 2031 by becoming the “trusted ramp partner” for power-dense AI infrastructure (design-for-manufacture → qualify → ramp → integrate) and attaching higher-margin lifecycle services (spares, swap/repair, refurb), sustaining premium valuation even as core contract manufacturing multiples compress.
|
| 116 |
CDNS
|
ai
cloud
enterprise
semiconductors
software
|
Cadence Design Systems, Inc.
|
1.9x
|
0.80
|
Cadence is a core “picks-and-shovels” platform for AI-driven silicon complexity; if it extends its solver stack from chips to full systems (multiphysics + digital twins) and monetizes secure/cloud execution, it can sustain premium growth while keeping a software-like margin profile even as engineering cognition gets automated.
|
| 117 |
TLN
|
ai
energy
|
Talen Energy Corporation
|
1.9x
|
0.60
|
TLN is a scarce PJM “clean-firm + dispatchable” platform: if it locks in multi-site hyperscaler-style contracts while keeping enough merchant torque, it can compound FCF/share through 2031 via capacity scarcity, best-in-class gas additions, and disciplined capital returns—despite elevated regulatory/political risk.
|
| 118 |
BWXT
|
defense
energy
hardware
healthcare
nuclear
|
BWX Technologies, Inc.
|
1.8x
|
0.60
|
BWXT is a scarce, security-cleared nuclear manufacturer with compounding demand from naval propulsion plus a widening commercial stack (services, isotopes, advanced fuels); if it converts record backlog cleanly and keeps adding repeatable “nuclear throughput” adjacencies, it can grow into a larger, higher-quality earnings base while sustaining a premium defense-components valuation.
|
| 119 |
ASML
|
ai
hardware
semiconductors
|
ASML Holding N.V.
|
1.8x
|
0.85
|
ASML remains the main physical choke-point for scaling leading-edge compute; if High-NA EUV ramps and ASML shifts mix toward outcome-based software/service (yield, uptime, energy) and advanced-packaging adjacencies, revenue compounds while cyclicality softens—supporting a durable premium valuation despite export-control drag.
|
| 120 |
MU
|
ai
cloud
enterprise
hardware
semiconductors
|
Micron Technology, Inc.
|
1.8x
|
0.70
|
AI pushes memory bandwidth, packaging throughput, and supply assurance into the critical path of compute scaling; Micron can compound revenue by shifting mix to premium data-center products and de-cyclicizing cash flows via longer-duration contracts and value-add software/security layers—despite structurally high capex.
|
| 121 |
AVGO
|
ai
cybersecurity
networking
semiconductors
software
|
Broadcom Inc.
|
1.8x
|
0.70
|
Broadcom can compound through 2031 by remaining a “must-ship” supplier to AI clusters (custom accelerators + Ethernet/optics) while turning VMware into the default private-cloud control plane for private AI, compliance, and automated operations—supporting durable cash flow even if headline margins fluctuate.
|
| 122 |
FN
|
ai
communications
hardware
networking
|
Fabrinet
|
1.8x
|
0.60
|
AI-era networking pushes more value into photonics manufacturing quality, yield, and trusted execution; Fabrinet can compound share by scaling Thailand capacity and expanding into higher-complexity optical packaging, but upside is capped by customer concentration and likely multiple normalization.
|
| 123 |
LITE
|
ai
communications
hardware
networking
semiconductors
|
Lumentum Holdings Inc.
|
1.7x
|
0.60
|
AI clusters are bandwidth- and power-limited; Lumentum is positioned to compound content per rack (faster lanes + more links) and expand into optical switching and selective software/security attach, but the 5-year equity outcome is governed as much by keeping a premium multiple as by shipping growth.
|
| 124 |
ETN
|
aerospace
automation
energy
enterprise
hardware
|
Eaton Corporation plc
|
1.7x
|
0.70
|
Eaton is positioned as a “grid-to-chip” constraint winner: AI-driven data-center power density + grid buildout keep demand durable, while Boyd Thermal and software/service attach can lift wallet share and resilience—supporting a premium industrial multiple into 2031.
|
| 125 |
EQIX
|
ai
cloud
communications
enterprise
networking
|
Equinix, Inc.
|
1.7x
|
0.70
|
Equinix should compound as the neutral “meeting place” where clouds, networks and enterprises interconnect; AI-era power scarcity and sovereignty/security needs raise the value of metro proximity and verified private connectivity, letting EQIX monetize more than space (attach services) as its multi-year build cycle leases up.
|
| 126 |
HPE
|
ai
cloud
enterprise
hardware
networking
|
Hewlett Packard Enterprise Company
|
1.6x
|
0.55
|
HPE’s 5-year upside is a mix shift, not a box cycle: turn private AI buildouts into repeatable, financeable “systems + networking + ops” programs, using Juniper scale to expand higher-margin networking attach and using hybrid-ops software to raise recurring revenue quality while paying down Juniper-era leverage.
|
| 127 |
GOOG
|
advertising
ai
cloud
media
transportation
|
Alphabet Inc.
|
1.6x
|
0.80
|
Alphabet compounds by converting distribution (Search/YouTube/Android/Chrome) into AI-native intent capture while scaling Cloud on differentiated infrastructure, with upside from safety/trust rails and autonomy; the limiter is sustained capex + remedies that constrain multiple expansion.
|
| 128 |
STEM
|
ai
energy
enterprise
software
|
Stem, Inc.
|
1.6x
|
0.60
|
If Stem sustains its pivot to recurring software + managed services and becomes the control/workflow “system of record” for hybrid solar+storage portfolios, the business can compound mainly via de-risking (fewer surprises, steadier renewals) and selective new SKUs (controls + compliance), supporting a durable EV step-up even without returning to hardware-led growth.
|
| 129 |
NEE
|
automation
energy
nuclear
|
NextEra Energy, Inc.
|
1.5x
|
0.70
|
NextEra remains a premium-growth utility because AI/data-center load makes interconnection speed, firm power and grid reliability scarce products; NEE can compound by converting that scarcity into regulated rate base (Florida) plus contracted renewables/storage/transmission cash flows, with option value from “firm clean power” SLAs and interregional transmission.
|