Identifying winners earlier in the AI era through 2030.
Monthly, actionable insights on AI-exposed and future-defining companies.
Next Arc Research is a company analysis platform that applies a future-optimistic investing lens to the AI-driven transformation of the global economy. It’s built to help you identify which public companies are best positioned to capture the next wave of value creation over the coming 5 years.
Grounded in my own investing thesis and AI expertise, Next Arc Research leverages advanced reasoning models and extensive web research to evaluate companies through qualitative and quantitative signals of long-term potential. The framework is inspired by Emad Mostaque's "The Last Economy" thesis — the view that we’re entering a phase of unprecedented technological acceleration that will redefine how value emerges across industries.
Disclosure: I hold long positions in most of the companies I analyze on this platform. The detail page of any company will be specific as to whether I hold that company. My allocation to any particular company varies based on implied growth, risk and other factors. This is not investment advice and I am not paid to promote any company.
My analysis combines the latest AI reasoning models with real-time web search to evaluate companies across multiple dimensions:
My AI modeling performs extensive web research, analyzing recent news, earnings reports, clinical trial data, competitive developments, and market trends to provide up-to-date assessments.
I analyze a curated selection of public companies with significant exposure to transformative technology trends. My coverage includes:
Currently covering 110 symbols:
AAOI Applied Optoelectronics, Inc. Designs and manufactures optical transceivers, lasers and HFC (cable) equipment for hyperscale data centers and broadband networks, with production in the U.S., Taiwan and China. ACHR Archer Aviation Inc. Designs, certifies and plans to manufacture and operate electric VTOL aircraft for urban air mobility and dual‑use defense missions. AI C3.ai, Inc. Enterprise AI application software company offering an agentic AI platform and industry apps sold direct and via hyperscaler and systems integrator channels. AISP Airship AI Holdings, Inc. Airship AI builds AI-driven video, sensor and data management platforms for U.S. public safety, border and commercial security, combining edge hardware (Outpost AI) with Acropolis software and evidence tools. ALAB Astera Labs, Inc. Designs semiconductor-based connectivity for AI/cloud data centers (PCIe/CXL retimers, fabric switches, Ethernet smart cables) with COSMOS fleet management software. AMBA Ambarella, Inc. Designs low‑power edge AI/computer‑vision system‑on‑chips used in cameras, robotics and automotive ADAS/domain controllers. AMD Advanced Micro Devices, Inc. Designs and sells CPUs, GPUs, AI accelerators, FPGAs and data center platforms used in PCs, servers and AI infrastructure. AMPX Amprius Technologies, Inc. Designs and sells high‑energy silicon‑anode lithium‑ion battery cells for drones, defense, LEV and emerging eAviation markets using a capital‑light contract manufacturing model. AMZN Amazon.com, Inc. Global technology company operating the world’s largest online marketplace, leading public cloud platform (AWS), a top-three digital ads business, and expanding satellite broadband (Project Kuiper). ANET Arista Networks, Inc. Arista builds high‑performance Ethernet switching, routing, and network software for AI and cloud data centers plus enterprise campus/branch networks. APLD Applied Digital Corporation Designs, builds and operates high‑density AI/HPC data centers, leasing long‑duration, power‑dense capacity to GPU cloud providers. APP AppLovin Corporation AppLovin runs AXON, MAX, Adjust and Wurl—an AI‑driven performance advertising and monetization platform spanning in‑app and connected TV. ARM Arm Holdings plc U.K.-based semiconductor IP company whose Arm architecture powers most smartphones and is expanding into PCs, data centers, automotive and IoT via licensing and royalties. ASTS AST SpaceMobile, Inc. Builds a space-based cellular broadband network that connects standard smartphones directly to satellites, in partnership with mobile network operators. AUR Aurora Innovation, Inc. Developer of Level 4 autonomous trucking software and services (Driver-as-a-Service) with OEM and Tier-1 partners. AVGO Broadcom Inc. Broadcom designs custom AI accelerators and high‑end networking silicon and owns VMware’s enterprise infrastructure software stack. BBAI BigBear.ai Holdings, Inc. Provider of AI-powered decision intelligence and vision/biometric software for U.S. federal agencies, border/airports, and enterprises. BEAM Beam Therapeutics Inc. Beam develops base-editing genetic medicines, with lead programs in sickle cell disease (BEAM‑101) and in‑vivo liver editing for alpha‑1 antitrypsin deficiency (BEAM‑302). BFLY Butterfly Network, Inc. Butterfly makes semiconductor-based handheld ultrasound probes and enterprise software that bring imaging to the bedside and, increasingly, home care. BKSY BlackSky Technology Inc. BlackSky provides real‑time, AI‑driven geospatial intelligence via its small‑satellite constellation and Spectra analytics platform for defense and enterprise customers. CDNS Cadence Design Systems, Inc. Cadence provides electronic design automation (EDA), silicon IP, and multiphysics/system analysis software, increasingly infused with AI and delivered across cloud and on-premise. CEG Constellation Energy Corporation Largest U.S. producer of 24/7 carbon‑free power with a national retail/solutions business; acquiring Calpine to add gas/geothermal and scale to meet AI and federal demand. CLS Celestica Inc. Celestica designs, manufactures, and integrates complex hardware platforms and supply chain solutions for data centers, communications, aerospace/defense, industrial and health tech customers. COHR Coherent Corp. Coherent supplies photonics components, modules, and engineered materials used in AI/datacenter networking, telecom, industrial lasers, and compound semiconductors. COIN Coinbase Global, Inc. A regulated crypto platform providing trading, custody, stablecoin economics (USDC), institutional prime services, and the Base L2 network. CRDO Credo Technology Group Holding Ltd Fabless connectivity company supplying Active Electrical Cables, Ethernet/PCIe retimers, optical DSPs and SerDes IP to hyperscale AI data centers. CRM Salesforce, Inc. Salesforce provides cloud software for sales, service, marketing, analytics and data, now bundling agentic‑AI and a unified data layer across Customer 360. CRNC Cerence Inc. Cerence provides conversational AI, voice and multimodal software that powers OEM-branded in‑car assistants and connected services. CRSP CRISPR Therapeutics AG Developer of CRISPR/Cas9-based medicines; co-commercializes the approved cell therapy CASGEVY for SCD/TDT with Vertex and advances in‑vivo cardiovascular editing, allogeneic CAR‑T and T1D cell therapies. CRWD CrowdStrike Holdings, Inc. CrowdStrike provides an AI‑native cybersecurity platform (Falcon) spanning endpoint/XDR, cloud, identity, next‑gen SIEM/logging and services. CRWV CoreWeave, Inc. AI-focused cloud infrastructure provider delivering GPU-accelerated compute and an AI developer platform (incl. W&B, OpenPipe) via multi‑year contracts for training and inference. DDOG Datadog, Inc. Datadog provides a unified SaaS platform for observability, security, and action/automation across modern cloud and AI applications. DELL Dell Technologies Inc. Global provider of enterprise infrastructure (servers, storage, networking) and client PCs with financing and services for on‑prem, edge and cloud AI deployments. DNA Ginkgo Bioworks Holdings, Inc. Platform company for cell programming, on‑shore lab automation, biosecurity services, and AI‑grade biological datasets. EQIX Equinix, Inc. Neutral, global interconnection and colocation platform operating 260+ data centers with dense cloud, network and enterprise ecosystems. ESTC Elastic N.V. Elastic builds the Search AI Platform used for enterprise search, observability, and security across cloud and on‑premises deployments. ETH Grayscale Ethereum Mini Trust ETF A U.S.-listed spot Ether exchange-traded product that holds ETH, charges a 0.15% sponsor fee, and now stakes a portion of its Ether. ETN Eaton Corporation plc Intelligent power management company supplying electrical distribution, data center power, aerospace systems and related services globally. FIVN Five9, Inc. Five9 provides cloud contact-center software (CCaaS) and AI tools that automate and augment customer service across voice and digital channels. FLNC Fluence Energy, Inc. Provides grid-scale energy storage systems, long-term services, and asset optimization software for power markets. FN Fabrinet Provider of advanced optical packaging and precision electro‑mechanical manufacturing services used in datacom/telecom, industrial lasers, sensors and medical devices. GOOG Alphabet Inc. Alphabet is the parent of Google and YouTube, monetizing search/ads, cloud, subscriptions, hardware, and Other Bets like Waymo. HPE Hewlett Packard Enterprise Company Enterprise infrastructure company providing servers, storage, networking (incl. Juniper), and GreenLake hybrid cloud and AI solutions. HURA TuHURA Biosciences, Inc. Clinical-stage immuno-oncology company advancing IFx-2.0 (Phase 3 under SPA in Merkel cell carcinoma) and TBS-2025 (VISTA mAb, Phase 2-ready), with adjunct therapies to improve checkpoint inhibitor response. HUT Hut 8 Corp. Power-first digital infrastructure operator combining energy, ASIC/GPU data centers, and majority-owned American Bitcoin (ABTC) to monetize Bitcoin and AI compute. IBIT iShares Bitcoin Trust ETF A U.S. spot bitcoin exchange-traded trust sponsored by BlackRock that holds bitcoin and tracks its spot price with a 0.25% expense ratio. INOD Innodata Inc. AI data engineering and evaluation services firm providing training data, model testing/safety, and enterprise AI build services for large tech and regulated customers. IONQ IonQ, Inc. Pure‑play quantum computing and networking company now vertically integrated into quantum‑safe communications and space EO via recent acquisitions. IREN IREN Limited Developer and operator of renewable-powered, high-density data centers serving Bitcoin mining, AI cloud, and AI colocation customers across North America. JOBY Joby Aviation, Inc. Developer of electric vertical takeoff and landing (eVTOL) aircraft aiming to operate and sell air taxis, with partnerships for distribution and manufacturing. KTOS Kratos Defense & Security Solutions, Inc. Kratos builds affordable, attritable unmanned jet aircraft, hypersonic test systems and solid rocket motors, and virtualized satellite ground software for U.S. and allied defense. LITE Lumentum Holdings Inc. Designer and manufacturer of optical components, modules, and lasers used in cloud/AI data centers, telecom networks, and industrial applications. LMND Lemonade, Inc. AI‑native, direct‑to‑consumer insurer offering renters, homeowners, car, pet and life coverage across the U.S. and parts of Europe. LSCC Lattice Semiconductor Corporation Fabless designer of low‑power small and mid‑range FPGAs and security solution stacks used across communications, computing/data center, industrial, automotive and consumer devices. META Meta Platforms, Inc. Operates Facebook, Instagram, WhatsApp and Threads; monetizes global consumer attention via ads, commerce and services while investing heavily in AI and AR wearables. MPWR Monolithic Power Systems, Inc. Fabless analog and power electronics company providing PMICs, power stages, controllers and high‑density 48V/800V modules for data center, automotive, industrial and consumer systems. MRVL Marvell Technology, Inc. Fabless semiconductor company focused on custom AI accelerators, optical interconnect, Ethernet switching/PHY and storage silicon for data‑center infrastructure. MSFT Microsoft Corporation Microsoft builds and operates a global cloud, AI, productivity, developer, security and gaming platform spanning Azure, Microsoft 365, GitHub, LinkedIn and Xbox. MSTR Strategy Inc. Strategy Inc. is a public Bitcoin treasury company that accumulates and holds bitcoin while operating a smaller enterprise analytics software business. MTSI MACOM Technology Solutions Holdings, Inc. Supplier of RF, microwave and photonic semiconductors used in AI datacenters, telecom and defense; now operating a U.S. Trusted Foundry GaN fab. MU Micron Technology, Inc. Micron designs and manufactures DRAM, NAND and high‑bandwidth memory used in AI data centers, PCs, mobile, automotive and embedded systems. NBIS Nebius Group N.V. Nebius builds and operates AI‑optimized cloud and dedicated GPU infrastructure with software and services for training and inference. NEE NextEra Energy, Inc. Largest U.S. electric utility and renewables developer via Florida Power & Light and NextEra Energy Resources; builds, owns and operates wind, solar, storage and nuclear assets. NET Cloudflare, Inc. Cloud-based connectivity platform providing security, networking, edge compute, and developer services across a global anycast network. NNOX Nano-X Imaging Ltd. Medical imaging company combining a multi‑source 3D X‑ray system (Nanox.ARC), cloud workflow, AI and teleradiology services. NOW ServiceNow, Inc. Enterprise workflow and automation software platform delivering AI‑powered IT, employee, and customer workflows. NTRA Natera, Inc. Natera develops and runs advanced cell‑free DNA blood tests across oncology (Signatera), women’s health (Panorama, Horizon, Fetal Focus), and organ health (Prospera). NVDA NVIDIA Corporation Designs and sells accelerated computing platforms spanning GPUs, systems, networking and AI software used across data centers, edge, PCs and vehicles. OKLO Oklo Inc. Developer-operator of fast microreactor powerhouses selling on-site clean electricity and heat to AI data centers, defense bases, and industry; expanding into fuel recycling and radioisotopes. ON ON Semiconductor Corporation Designer and manufacturer of intelligent power and sensing semiconductors for automotive, industrial, energy and data center applications. ORCL Oracle Corporation Oracle provides enterprise database and applications software and operates Oracle Cloud Infrastructure for general compute and AI. OUST Ouster, Inc. Designs and sells digital lidar sensors and AI software (Gemini, BlueCity) for industrial automation, smart infrastructure, robotics and automotive. PANW Palo Alto Networks, Inc. AI-powered cybersecurity platform spanning network security, SASE, cloud security, SecOps (XSIAM) and pending identity via CyberArk. PATH UiPath, Inc. UiPath provides an enterprise automation platform spanning RPA, AI/IDP, process mining, and agentic orchestration to automate business workflows. PDYN Palladyne AI Corp. Embodied-AI software company developing autonomy and perception platforms (IQ for industrial robots, Pilot for drones) for industrial and defense use at the edge. PL Planet Labs PBC Planet operates the world’s largest commercial Earth‑observation constellation, selling daily imagery, analytics and sovereign satellite services to governments and enterprises. PLTR Palantir Technologies Inc. AI-native enterprise and defense software company delivering data integration, decision intelligence and agentic AI platforms (Gotham, Foundry, AIP). POET POET Technologies Inc. POET designs photonic integrated optical engines and external light sources built on its Optical Interposer platform for 800G–1.6T datacenter/AI connectivity and emerging optical I/O. PRME Prime Medicine, Inc. Clinical-stage gene-editing biotech developing Prime Editing therapies for rare genetic diseases with internal liver programs and partnered cell therapy. PWR Quanta Services, Inc. Specialty infrastructure contractor that designs, builds and maintains electric grid, renewables, data center MEP, telecom and pipeline infrastructure. QBTS D-Wave Quantum Inc. Provider of quantum annealing computers and Leap cloud services; also developing gate‑model systems for optimization and AI‑adjacent workloads. QUBT Quantum Computing Inc. Integrated photonics and quantum optics firm building a US TFLN photonic chip foundry alongside quantum sensing, cybersecurity and computing products. RCAT Red Cat Holdings, Inc. U.S. small unmanned systems maker (Teal Drones, FlightWave) building an all‑domain portfolio across sUAS ISR, FPV and maritime USVs for defense and government. RDVT Red Violet, Inc. Red Violet provides identity intelligence and risk analytics via IDI and FOREWARN for enterprises, government, and real estate professionals. RGTI Rigetti Computing, Inc. Rigetti designs, fabricates, and operates superconducting quantum processors and delivers access via cloud platforms and on‑prem systems. RIOT Riot Platforms, Inc. Bitcoin-focused digital infrastructure operator with vertically integrated power, mining and electrical engineering assets, evaluating 600 MW of AI/HPC colocation at its Corsicana, TX campus. RKLB Rocket Lab Corporation End-to-end space company providing small and medium launch (Electron, Neutron), spacecraft, components, payloads and suborbital hypersonic test services. RLAY Relay Therapeutics, Inc. Compute‑driven biotech using its Dynamo platform to design mutant‑selective small‑molecule medicines; lead asset RLY‑2608 (PI3Kα) is in Phase 3 with FGFR2 (lirafugratinib) out‑licensed to Elevar. RMBS Rambus Inc. Rambus designs high‑speed memory interface chips for DDR5/MRDIMM and licenses CXL/PCIe and security IP, with recurring DRAM patent royalties. RR Richtech Robotics Inc. U.S. service‑robot maker offering delivery, cleaning and beverage robots sold as RaaS and systems to hospitality, healthcare and retail customers. RXRX Recursion Pharmaceuticals, Inc. Clinical-stage TechBio platform using AI, proprietary phenomics data, and automated wet labs to discover drugs and partner with large pharma. S SentinelOne, Inc. AI‑native cybersecurity platform for endpoint, cloud and a unified security data lake, automating detection, investigation and response. SDGR Schrödinger, Inc. Computational drug discovery company combining physics-based simulation and AI software with a partnered and proprietary therapeutics pipeline. SERV Serve Robotics Inc. Serve Robotics designs, manufactures (via partners) and operates autonomous sidewalk delivery robots, licensing autonomy/teleop software and selling delivery-as-a-service to food, convenience and retail platforms. SITM SiTime Corporation Fabless semiconductor company that designs MEMS-based precision timing chips (oscillators, clocks, resonators) and related software for AI datacenters, communications, industrial, automotive and consumer devices. SMCI Super Micro Computer, Inc. US-based designer and manufacturer of AI-optimized servers and rack-scale, liquid‑cooled data center solutions. SMR NuScale Power Corporation NuScale designs and licenses a factory‑fabricated small modular reactor (77 MWe per module) and sells technology, engineering and services via exclusive commercialization partner ENTRA1. SNOW Snowflake Inc. Snowflake provides a multi‑cloud data platform that unifies data warehousing, data engineering, sharing/marketplace, and AI/ML workloads via a consumption model. SNPS Synopsys, Inc. Electronic design automation and semiconductor IP leader that closed the Ansys multiphysics simulation acquisition in 2025. SOUN SoundHound AI, Inc. Independent voice and conversational AI platform powering in-car assistants, restaurant automation, and enterprise AI agents. STEM Stem, Inc. AI-enabled clean energy software company; PowerTrack EMS/Optimizer monitors, controls and optimizes solar and battery storage fleets with edge hardware and services. SYM Symbotic Inc. Symbotic builds AI‑orchestrated robotic storage, retrieval and case‑handling systems for warehouses and store‑level fulfillment, with software and operations services. TEM Tempus AI, Inc. AI-driven precision medicine company combining genomic diagnostics, multimodal data, and software to serve clinicians, biopharma and patients. TSLA Tesla, Inc. Designs, manufactures and sells EVs and energy storage; operates charging, software, and early robotaxi pilots. TSM Taiwan Semiconductor Manufacturing Company Limited Largest dedicated semiconductor foundry; manufactures leading‑edge logic and advanced packaging (CoWoS/SoIC) for global chip designers and hyperscalers. TWST Twist Bioscience Corporation Twist Bioscience manufactures synthetic DNA and NGS tools on a silicon platform and provides antibody discovery services to biopharma and research customers. VICR Vicor Corporation Designs and manufactures high‑density modular power components and systems used in AI data centers, automotive electrification, aerospace/defense and industrial markets. VRT Vertiv Holdings Co. Vertiv provides critical digital infrastructure for data centers and networks, including power systems, liquid cooling, racks, monitoring software, and lifecycle services. VST Vistra Corp. U.S. independent power producer and retail electricity provider with nuclear, gas, coal, solar and battery assets serving ~5 million customers across competitive markets. ZS Zscaler, Inc. Cloud-native Zero Trust security platform delivering SSE/SASE, digital experience monitoring and data protection for enterprises.
Note: Availability of analysis for each symbol is subject to your Patreon tier membership level.
You can support this project (to fund deeper and more frequent research across a broader set of companies) through joining as a Patreon member. Three different tiers provide different benefits depending on your goals. See below for samples of the analysis at different levels:
While you are subscribed at a particular tier on Patreon, you will have access to the Next Arc Research website where you will be able to browse the analysis of each company covered by that tier.
Note that "Top 10" etc. is based on the companies' implied growth through 2030 ranking when the analysis is performed, i.e. the 10/30/100 companies with the highest implied growth.
I update these analyses on a weekly basis around the 7th, 14th, 21st and 28th day of each month. At the Access and Plus tiers members receive access to the 28th of the month update. At the Portfolio tier members receive access to all weekly updates.
This is how I use this data (still not investment advice):
Of course, this is just my opinion and you should consult with a financial adviser to plan your investment approach for your situation.
The Next Arc Research framework is inspired by Emad Mostaque's "The Last Economy" thesis on the transformative impact of AI and exponential technologies. Rather than extrapolating from historical trends, I analyze how companies are positioned to capture value in a world where AI dramatically accelerates innovation, reduces costs, and enables new business models.
This platform leverages the latest AI reasoning models. Each model performs real-time web research and multi-step reasoning to produce comprehensive analyses that go beyond traditional financial metrics; all through a lens of a tech-optimistic future.
I've spent 30+ years working and investing in tech. I worked at Netscape, Yahoo!, Google and many startups in Silicon Valley - most recently in AI and LLM technology.
As a retail investor I invested in Bank of America during the 2008 Great Recession, Amazon before they got big and NVIDIA when they still focused on gaming. These investments allowed me to quit regular work and spend some time on Next Arc Research to find the next companies that are going to drive outsized returns in our tech-optimistic future. I resolved that anything I developed would be made available to others.
While I am hopeful for a tech-optimistic future of abundance for all, I also believe that the surest way to guard against being cut out of that future is to own a part of it.
Please reach out via my Patreon.