AI-Era Investment Research Beyond the Magnificent 7.
Regular, independent, actionable insights on AI-exposed and future-defining companies.
Next Arc Research is a company analysis platform that applies a future-optimistic investing lens to the AI-driven transformation of the global economy. It’s built to help you identify which public companies are best positioned to capture the next wave of value creation over the coming 5 years. See the FAQ.
Grounded in my own investing thesis and AI expertise, Next Arc Research leverages advanced reasoning models and extensive web research to evaluate companies through qualitative and quantitative signals of long-term potential. The framework is inspired by Emad Mostaque's "The Last Economy" thesis — the view that we’re entering a phase of unprecedented technological acceleration that will redefine how value emerges across industries.
Disclosure: I hold long positions in most of the companies I analyze on this platform. The detail page of any company will be specific as to whether I hold that company. My allocation to any particular company varies based on implied growth, risk and other factors. This is not investment advice and I am not paid to promote any company.
My analysis combines the latest AI reasoning models with real-time web search to evaluate companies across multiple dimensions:
My AI modeling performs extensive web research, analyzing recent news, earnings reports, clinical trial data, competitive developments, and market trends to provide up-to-date assessments.
I analyze a curated selection of public companies with significant exposure to transformative technology trends. My coverage includes:
Currently covering 123 symbols:
AAOI Applied Optoelectronics, Inc. Applied Optoelectronics designs and manufactures vertically integrated optical components and transceiver modules used in AI data centers and cable broadband networks. ACHR Archer Aviation Inc. Archer designs an electric vertical takeoff and landing aircraft (Midnight) and is building supporting operations and defense-adjacent propulsion/VTOL programs. AI C3.ai, Inc. C3.ai provides enterprise AI application software for building, deploying, and operating AI-driven workflows across regulated industries and government. AISP Airship AI Holdings, Inc. Airship AI sells edge-to-cloud video/sensor analytics software and turnkey surveillance solutions primarily to U.S. public-sector and regulated enterprise customers. ALAB Astera Labs, Inc. Fabless semiconductor company selling high-speed connectivity chips/modules and COSMOS fleet-management software for AI and cloud data centers. AMBA Ambarella, Inc. Ambarella designs fabless, ultra-low-power edge-AI system-on-chips for video and sensor perception across IoT, robotics, and automotive. AMD Advanced Micro Devices, Inc. AMD designs CPUs, GPUs, and adaptive/embedded compute used in PCs, data centers, gaming consoles, and embedded systems. AMPX Amprius Technologies, Inc. Amprius develops and sells high-energy and high-power lithium-ion batteries using a proprietary silicon-anode platform, primarily for aviation, drones, defense and other mobility applications. AMZN Amazon.com, Inc. Amazon operates a global e-commerce and logistics platform plus a hyperscale cloud business and a fast-growing retail advertising network. ANET Arista Networks, Inc. Arista designs and sells high-performance Ethernet switching/routing platforms and network software for AI data centers and large enterprises. APLD Applied Digital Corporation Applied Digital develops and operates power-dense data center campuses for AI/HPC tenants and legacy crypto hosting customers. APP AppLovin Corporation AppLovin runs an AI-driven performance advertising platform connecting advertisers with mobile and streaming TV publishers, plus measurement tooling. APUS Apimeds Pharmaceuticals US, Inc. Clinical-stage pain-therapeutics company developing Apitox for knee osteoarthritis while integrating MindWave’s Bitcoin-focused digital-asset treasury platform. ARM Arm Holdings plc Arm licenses CPU architecture and related IP and earns royalties per chip shipped across mobile, IoT, automotive, and data center markets. ASML ASML Holding N.V. ASML designs and manufactures lithography systems used to produce semiconductors, plus related software, upgrades, and field services. ASTS AST SpaceMobile, Inc. AST SpaceMobile is building a low Earth orbit satellite network that connects directly to standard smartphones through partner mobile operators for commercial and government use. ATOM Cosmos Hub Network ATOM is the Cosmos Hub’s staking and governance token, positioned to monetize interchain routing and shared security across a multi-chain ecosystem. AUR Aurora Innovation, Inc. Aurora develops and operates the Aurora Driver, an SAE Level 4 autonomous driving system initially focused on long-haul Class 8 trucking. AVAV AeroVironment, Inc. AeroVironment builds and supports uncrewed systems, loitering munitions, counter-drone solutions, and adjacent space/cyber/directed-energy capabilities for U.S. and allied customers. AVAX Avalanche Network Avalanche is an EVM-compatible smart-contract platform optimized for fast finality and a “many-chains” deployment model (Avalanche L1s) aimed at consumer apps and regulated onchain finance. AVGO Broadcom Inc. Broadcom designs semiconductors for connectivity and custom AI silicon and sells infrastructure software anchored by VMware’s virtualization and private-cloud stack. BBAI BigBear.ai Holdings, Inc. BigBear.ai builds AI-powered decision intelligence, secure analytics, and biometric identity solutions primarily for U.S. government and other regulated customers. BEAM Beam Therapeutics Inc. Clinical-stage biotechnology company developing precision genetic medicines using base editing. BFLY Butterfly Network, Inc. Butterfly sells semiconductor-based handheld ultrasound devices and related cloud software used to capture, manage, and operationalize point-of-care imaging. BKSY BlackSky Technology Inc. BlackSky operates Earth-imaging satellites and a software platform to deliver low-latency geospatial intelligence products, primarily to government and defense customers. BTC Bitcoin Network Bitcoin is a fixed-supply digital asset used as censorship-resistant global settlement and store-of-value collateral. BWXT BWX Technologies, Inc. BWXT manufactures nuclear reactor components and fuels for U.S. defense programs and provides commercial nuclear services and medical isotope/radiopharma supply. CDNS Cadence Design Systems, Inc. Cadence provides software, hardware, and IP used to design, verify, and simulate advanced semiconductors and complex electronic/physical systems. CEG Constellation Energy Corporation Constellation is a U.S. competitive power producer and energy supplier anchored by the largest U.S. nuclear fleet, selling power and energy solutions to large commercial, industrial, and public-sector customers. CLS Celestica Inc. Celestica is a Canadian design-to-manufacture and platform-solutions provider focused on AI/cloud data center infrastructure plus aerospace/defense and other advanced end markets. COHR Coherent Corp. Coherent manufactures optical networking components and transceiver modules, lasers/laser systems, and engineered materials (including SiC) for datacenter/communications and industrial end markets. COIN Coinbase Global, Inc. Coinbase operates a regulated crypto trading, custody, and payments platform for retail and institutional customers, with expanding derivatives and onchain infrastructure offerings. CRDO Credo Technology Group Holding Ltd Credo designs high-speed connectivity semiconductors and system products (cables/PHY/DSP) used in AI-driven hyperscale and cloud data centers. CRM Salesforce, Inc. Salesforce sells enterprise software for sales, service, marketing, commerce, analytics, integration, and data management, increasingly bundling AI automation into core customer workflows. CRNC Cerence Inc. Cerence provides AI-powered voice and assistant software (edge + cloud) for automakers’ in-cabin user experiences. CRSP CRISPR Therapeutics AG Gene-editing biotech developing CRISPR/Cas9 therapies, with CASGEVY co-commercialized with Vertex and a pipeline spanning cardiometabolic, immunology/oncology, regenerative medicine and RNA-based programs. CRWD CrowdStrike Holdings, Inc. CrowdStrike provides cloud-delivered cybersecurity software and services centered on endpoint protection and cross-domain detection/response. CRWV CoreWeave, Inc. CoreWeave operates an AI-focused cloud platform providing high-performance NVIDIA GPU infrastructure and software for model training and inference. DDOG Datadog, Inc. Datadog provides a usage-based SaaS platform for observability (metrics/logs/traces/digital experience) and cloud security monitoring across cloud and on-prem environments. DELL Dell Technologies Inc. Dell sells PCs, servers, storage and related services/financing to enterprises, governments and consumers. DNA Ginkgo Bioworks Holdings, Inc. Ginkgo Bioworks is a biology platform that provides cell engineering programs, lab automation/tools, and government-oriented biosecurity services. DOT Polkadot Network Polkadot is a shared-security multi-chain network aiming to sell interoperable blockspace (“coretime”) and cross-chain execution as a base-layer coordination fabric. EQIX Equinix, Inc. Equinix is a global data-center REIT providing carrier-neutral colocation, interconnection, and related digital infrastructure services. ESTC Elastic N.V. Elastic provides a unified search, observability, and security analytics platform built on Elasticsearch, delivered via cloud and self-managed deployments. ETH Ethereum Network Ethereum is a proof-of-stake Layer-1 used as a neutral settlement layer and collateral asset for onchain finance and rollup ecosystems. ETN Eaton Corporation plc Eaton is a power management company selling mission-critical electrical equipment, systems, and services for data centers, utilities, buildings, and aerospace. FIL Filecoin Network A decentralized storage and verifiable cloud-services network where FIL is used for payments, collateral, and economic security. FIVN Five9, Inc. Five9 provides cloud contact-center software (CCaaS) and AI automation to run voice and digital customer interactions for enterprises. FLNC Fluence Energy, Inc. Fluence provides utility-scale battery storage systems plus control, optimization software, and long-term services for grid operators, utilities, and developers. FN Fabrinet Fabrinet is a contract manufacturer specializing in advanced optical packaging and precision electro-mechanical manufacturing for OEMs. GOOG Alphabet Inc. Alphabet operates global consumer internet products (Search/YouTube/Android/Chrome) and Google Cloud, monetizing attention and enterprise compute/software. HPE Hewlett Packard Enterprise Company HPE sells enterprise servers, storage, and networking plus consumption-based infrastructure and financing for hybrid/private AI deployments. HURA TuHURA Biosciences, Inc. TuHURA is a clinical-stage immuno-oncology company developing combination therapies intended to overcome resistance to cancer immunotherapy. HUT Hut 8 Corp. Hut 8 is a power-first energy and digital-infrastructure operator monetizing large-load capacity across Bitcoin mining, hosting/colocation, and emerging AI/HPC workloads. INOD Innodata Inc. Innodata provides AI data engineering and AI model evaluation services, plus smaller healthcare data extraction and media intelligence software offerings. IONQ IonQ, Inc. IonQ builds trapped-ion quantum computers and quantum networking products, sold via cloud access and direct systems to enterprises and governments. IREN IREN Limited IREN owns and operates power-secured data centers in North America, monetizing them via Bitcoin mining and contracted GPU cloud services. JOBY Joby Aviation, Inc. Joby develops electric vertical takeoff and landing aircraft and is building an air-taxi service, starting with early operations in Dubai and the U.S. KTOS Kratos Defense & Security Solutions, Inc. Kratos designs and produces defense systems spanning tactical unmanned aircraft, hypersonic/rocket systems and test services, microwave electronics, and satellite ground software. LINK Chainlink Network Chainlink is a decentralized middleware network providing cross-chain messaging, data, and automation that lets tokenized finance and DeFi operate safely across chains and legacy systems. LITE Lumentum Holdings Inc. Lumentum designs and manufactures optical and photonic components, modules, and laser systems used in communications networks and industrial applications. LMND Lemonade, Inc. Lemonade is a digital, AI-first insurer offering renters, homeowners, pet, car, and life insurance across the US, UK, and Europe. LSCC Lattice Semiconductor Corporation Lattice designs low-power field-programmable gate arrays (FPGAs) and related software used for secure, deterministic edge and embedded compute. MATIC Polygon Network Polygon’s legacy MATIC token has migrated to POL, the gas + staking token securing Polygon PoS and aligning incentives for the AggLayer-connected ecosystem. MBLY Mobileye Global Inc. Mobileye develops ADAS and autonomous-driving systems (EyeQ SoCs, software, mapping, and AV stack) sold through OEM and Tier-1 programs. META Meta Platforms, Inc. Meta operates large-scale social and messaging platforms and monetizes them primarily through performance advertising, with additional bets in consumer AI and wearables/VR. MPWR Monolithic Power Systems, Inc. Monolithic Power Systems designs and sells high-performance power-management ICs and power modules used in AI/data centers, automotive, industrial, communications, and consumer electronics. MRVL Marvell Technology, Inc. Marvell is a fabless semiconductor company focused on data infrastructure silicon for AI data centers, cloud networking, carrier infrastructure, and related connectivity products. MSFT Microsoft Corporation Microsoft builds enterprise software, cloud infrastructure, developer tools, and security products, increasingly monetizing AI across them. MSTR Strategy Inc. Strategy is a bitcoin-treasury and enterprise analytics software company that finances bitcoin accumulation via equity, converts, and exchange-listed preferred securities. MTSI MACOM Technology Solutions Holdings, Inc. MACOM designs and manufactures high-performance analog/RF and optical semiconductor components used in data centers, telecom infrastructure, and industrial/defense systems. MU Micron Technology, Inc. Micron manufactures DRAM and NAND memory/storage used across data centers, AI systems, PCs, smartphones, and automotive/embedded. NBIS Nebius Group N.V. Nebius builds and operates AI-focused cloud infrastructure (GPU compute, storage, and managed services) and owns smaller autonomy and edtech businesses plus strategic equity stakes. NEE NextEra Energy, Inc. NextEra Energy owns Florida Power & Light and NextEra Energy Resources, combining a large regulated utility with a scaled renewables, storage and nuclear generation developer/operator. NET Cloudflare, Inc. Cloudflare runs a global edge network delivering security, performance, and developer services for Internet applications. NNOX Nano-X Imaging Ltd. Nanox develops digital tomosynthesis X-ray systems and sells an end-to-end radiology stack spanning cloud workflow, AI detection, and teleradiology services. NOW ServiceNow, Inc. ServiceNow provides a cloud software platform that automates and governs enterprise workflows across IT, employee, and customer operations. NTLA Intellia Therapeutics, Inc. Clinical-stage gene-editing biotech developing in vivo CRISPR/Cas9 therapies, led by programs in hereditary angioedema and transthyretin amyloidosis. NTRA Natera, Inc. Natera is a molecular diagnostics company delivering blood-based genetic testing across oncology, women’s health, and organ transplant care. NVDA NVIDIA Corporation Nvidia designs GPUs and full-stack accelerated computing platforms (silicon, systems, networking, and software) powering AI training and inference. OKLO Oklo Inc. Oklo develops advanced fission power plants (Aurora) and related fuel and radioisotope capabilities to sell firm power and heat to customers. ON ON Semiconductor Corporation onsemi designs and manufactures power and sensing semiconductors for automotive, industrial, and data-center power applications. ORCL Oracle Corporation Oracle sells enterprise database and business applications and is scaling a global cloud platform to run mission-critical and AI workloads. OUST Ouster, Inc. Ouster designs and sells digital lidar sensors and perception software for robotics, industrial automation, smart infrastructure, and automotive applications. PANW Palo Alto Networks, Inc. Palo Alto Networks provides enterprise cybersecurity platforms across network, cloud, and security operations, increasingly bundled as consolidated platforms. PATH UiPath, Inc. UiPath provides enterprise automation software that combines robots, AI agents, and governance to execute and monitor business processes. PDYN Palladyne AI Corp. Palladyne AI develops autonomy software for industrial robots and drones and is expanding into defense avionics, engineering, and precision manufacturing via acquisitions. PL Planet Labs PBC Operates a large Earth-imaging satellite fleet and sells imagery, APIs, and AI-enabled monitoring subscriptions to government and enterprise customers. PLTR Palantir Technologies Inc. Palantir builds enterprise and government software platforms for integrating data, governing access, and deploying AI-driven operational workflows in mission-critical environments. POET POET Technologies Inc. POET develops chip-scale photonics packaging and integrated optical components (engines and light sources) aimed at AI data-center and telecom connectivity. PRME Prime Medicine, Inc. Prime Medicine is a clinical-stage gene editing biotech developing one-time genetic therapies, prioritizing in vivo liver programs and partnered R&D. PWR Quanta Services, Inc. Quanta is a leading specialty contractor providing engineering, construction, and maintenance for electric power and underground utility infrastructure across North America and select international markets. QBTS D-Wave Quantum Inc. D-Wave sells quantum-optimization systems and delivers cloud-based quantum and hybrid optimization services to enterprises, governments, and research institutions. QUBT Quantum Computing Inc. Quantum Computing develops room-temperature photonic/quantum systems and operates a U.S.-based photonic chip foundry serving datacom, security, and quantum applications. RCAT Red Cat Holdings, Inc. Red Cat builds U.S.-made small unmanned aircraft systems and is expanding into uncrewed surface vessels for defense and government customers. RDVT Red Violet, Inc. Provides cloud-native identity intelligence (idiCORE/FOREWARN) via datasets, analytics, and APIs for fraud, risk, and investigative workflows. RGTI Rigetti Computing, Inc. Rigetti designs and operates superconducting quantum computers, selling cloud access and on-premises quantum systems while manufacturing key chips in-house. RIOT Riot Platforms, Inc. Riot builds and operates power-dense data center campuses that monetize electricity via Bitcoin mining today and potential AI/HPC data center leasing over time. RKLB Rocket Lab Corporation Rocket Lab provides launch services and space systems (spacecraft, components, and mission operations) for commercial and government customers. RLAY Relay Therapeutics, Inc. Relay Therapeutics is a clinical-stage biotech developing precision small-molecule therapies using a computationally driven discovery platform. RMBS Rambus Inc. Rambus sells memory-interface chips plus silicon IP and security IP used in data-center, PC, and edge compute systems. RR Richtech Robotics Inc. Richtech builds and deploys AI-enabled service robots (delivery, cleaning, and beverage automation) and is expanding into industrial mobile manipulation. RXRX Recursion Pharmaceuticals, Inc. Recursion is a clinical-stage TechBio company using automated biology, large proprietary datasets, and AI to discover and develop small-molecule medicines and partner with pharma. S SentinelOne, Inc. SentinelOne provides an AI-native cybersecurity platform for endpoint, cloud, identity, and security operations analytics/automation. SDGR Schrodinger, Inc. Schrödinger develops computational chemistry software and runs drug-discovery collaborations, aiming to improve molecular R&D productivity. SERV Serve Robotics Inc. Serve Robotics develops and operates autonomous sidewalk delivery robots for last-mile deliveries, primarily via delivery-platform partnerships. SITM SiTime Corporation SiTime is a fabless semiconductor company that designs and sells silicon-based precision timing components used across datacenter, communications, automotive, industrial, and consumer electronics. SMCI Super Micro Computer, Inc. Designs and manufactures application-optimized servers, storage, and rack-scale AI systems (including liquid-cooled deployments) sold to cloud, enterprise, and AI infrastructure buyers. SMR NuScale Power Corporation NuScale designs and licenses small modular nuclear reactor technology and provides related engineering and licensing services. SNOW Snowflake Inc. Snowflake provides a cloud-native data platform for analytics, data engineering, and enterprise AI workloads across AWS, Azure, and Google Cloud. SNPS Synopsys, Inc. Synopsys sells chip design software, semiconductor IP, and (via Ansys) multiphysics simulation used to design and validate chips and complex systems. SOL Solana Network Solana is a high-throughput proof-of-stake smart-contract network aiming to be a low-latency settlement and payments layer for on-chain finance and consumer apps. SOUN SoundHound AI, Inc. SoundHound provides voice and conversational AI software for automotive assistants, restaurant ordering/answering, and enterprise AI agents for customer service and IT workflows. STEM Stem, Inc. Stem provides software, edge control, and managed services to monitor, optimize, and dispatch solar and energy storage assets. SYM Symbotic Inc. Symbotic designs, builds, and deploys AI-enabled robotic automation systems and software to improve warehouse and distribution operations. TEM Tempus AI, Inc. Tempus provides AI-enabled precision-medicine products spanning clinical genomics testing, data licensing/model development for biopharma, and workflow software for providers. TSLA Tesla, Inc. Tesla designs and manufactures electric vehicles and sells energy generation and grid-scale/residential storage systems, plus related software and services. TSM Taiwan Semiconductor Manufacturing Company Limited TSMC is the leading pure-play semiconductor foundry, manufacturing and packaging advanced chips for major fabless and IDM customers worldwide. TWST Twist Bioscience Corporation Twist manufactures synthetic DNA products and sequencing-sample-prep consumables and provides discovery services to research, diagnostics, and biopharma customers. VICR Vicor Corporation Vicor designs and manufactures high-density power conversion modules and also monetizes its power-architecture IP through licensing and royalties. VRT Vertiv Holdings Co Vertiv designs, manufactures, integrates, and services critical digital infrastructure—power, thermal, racks, and controls—for data centers and communications networks. VST Vistra Corp. Vistra is a U.S. integrated retail electricity provider and competitive power generator with nuclear, natural gas, solar, and storage assets. ZS Zscaler, Inc. Zscaler provides cloud-delivered cybersecurity services that secure user, application, and data access for enterprises using a Zero Trust architecture.
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.
Here are some practical ways people often use this kind of research inside their own workflow — purely as examples tied to the features of the platform, and not as recommendations or investment advice:
None of this is investment advice. Everyone’s financial situation, risk tolerance, and goals are different, so please consult a licensed financial adviser before making any investment decisions.
The Next Arc Research framework is inspired by Emad Mostaque's "The Last Economy" thesis on the transformative impact of AI and exponential technologies. Rather than extrapolating from historical trends, I analyze how companies are positioned to capture value in a world where AI dramatically accelerates innovation, reduces costs, and enables new business models.
This platform leverages the latest AI reasoning models. Each model performs real-time web research and multi-step reasoning to produce comprehensive analyses that go beyond traditional financial metrics; all through a lens of a tech-optimistic future.
I've spent 30+ years working and investing in tech. I worked at Netscape, Yahoo!, Google and many startups in Silicon Valley - most recently in AI and LLM technology.
As a retail investor I invested in Bank of America during the 2008 Great Recession, Amazon before they got big and NVIDIA when they still focused on gaming. These investments allowed me to quit regular work and spend some time on Next Arc Research to find the next companies that are going to drive outsized returns in our tech-optimistic future. I resolved that anything I developed would be made available to others.
While I am hopeful for a tech-optimistic future of abundance for all, I also believe that the surest way to guard against being cut out of that future is to own a part of it.
Please reach out via my Patreon.
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