AI-Era Investment Research Beyond the Magnificent 7.
Regular, independent, actionable insights on AI-exposed and future-defining companies.
Next Arc Research is a company analysis platform that applies a future-optimistic investing lens to the AI-driven transformation of the global economy. It’s built to help you identify which public companies are best positioned to capture the next wave of value creation over the coming 5 years. See the FAQ.
Grounded in my own investing thesis and AI expertise, Next Arc Research leverages advanced reasoning models and extensive web research to evaluate companies through qualitative and quantitative signals of long-term potential. The framework is inspired by Emad Mostaque's "The Last Economy" thesis — the view that we’re entering a phase of unprecedented technological acceleration that will redefine how value emerges across industries.
Disclosure: I hold long positions in most of the companies I analyze on this platform. The detail page of any company will be specific as to whether I hold that company. My allocation to any particular company varies based on implied growth, risk and other factors. This is not investment advice and I am not paid to promote any company.
My analysis combines the latest AI reasoning models with real-time web search to evaluate companies across multiple dimensions:
My AI modeling performs extensive web research, analyzing recent news, earnings reports, clinical trial data, competitive developments, and market trends to provide up-to-date assessments.
I analyze a curated selection of public companies with significant exposure to transformative technology trends. My coverage includes:
Currently covering 120 symbols:
AAOI Applied Optoelectronics, Inc. Applied Optoelectronics designs and manufactures fiber-optic transceivers, lasers, and access-network products serving AI data centers and broadband operators. ACHR Archer Aviation Inc. Archer develops the Midnight electric vertical takeoff and landing aircraft and is building early commercial and defense-oriented deployment pathways. AI C3.ai, Inc. C3.ai sells enterprise AI software for building, deploying, and operating AI applications for commercial and U.S. government customers. AISP Airship AI Holdings, Inc. Airship AI sells an AI-driven video, sensor, and data-management surveillance stack (edge + enterprise software) to public-sector and commercial customers. ALAB Astera Labs, Inc. Designs and sells high-speed connectivity semiconductor products, modules, and embedded management software used in AI and cloud data center infrastructure. AMBA Ambarella, Inc. Ambarella designs edge AI vision semiconductors used in cameras and embedded devices across security, consumer, industrial/robotics, and automotive applications. AMD Advanced Micro Devices, Inc. Fabless designer of CPUs and GPUs spanning data center, PCs, gaming, and embedded compute platforms. AMPX Amprius Technologies, Inc. Amprius develops and sells high-energy and high-power lithium-ion batteries for mobility applications, including aviation and drones. AMZN Amazon.com, Inc. Amazon operates online stores and a marketplace, sells advertising and subscription services, and provides cloud computing through AWS. ANET Arista Networks, Inc. Arista designs and sells high-performance Ethernet switching/routing systems plus network software and support for cloud, AI data centers, and enterprise networks. APLD Applied Digital Corporation Applied Digital designs, builds, and operates power-dense data center campuses and colocation for AI/HPC, cloud, and related workloads. APP AppLovin Corporation AppLovin runs a performance advertising platform (Axon/MAX) plus measurement tools (Adjust) helping advertisers acquire customers and publishers monetize mobile and connected-TV inventory. APUS Apimeds Pharmaceuticals US, Inc. Clinical-stage biotech developing Apitox for knee osteoarthritis pain, with an announced plan to add institutional digital-asset treasury/yield capabilities via MindWave. ARM Arm Holdings plc Arm designs and licenses CPU/system IP and earns per-chip royalties from partners’ shipments across mobile, cloud, automotive, and IoT. ASML ASML Holding N.V. ASML supplies lithography systems, software and services used by semiconductor manufacturers to produce integrated circuits. ASTS AST SpaceMobile, Inc. AST SpaceMobile is building a low-Earth-orbit satellite network intended to deliver cellular broadband directly to standard smartphones via wholesale mobile-operator and government channels. AUR Aurora Innovation, Inc. Aurora develops the Aurora Driver autonomous driving system and commercializes driverless trucking services via OEM and logistics partners. AVAV AeroVironment, Inc. Designs and manufactures uncrewed systems and integrated defense technologies spanning autonomy, counter-drone, and space/cyber/directed-energy capabilities. AVGO Broadcom Inc. Broadcom designs and sells semiconductor solutions (including custom and networking silicon) and infrastructure software (including VMware) to hyperscalers, enterprises, and service providers. BBAI BigBear.ai Holdings, Inc. BigBear.ai provides AI-enabled decision intelligence software and services for national security, border/trade, logistics, and digital identity workflows. BEAM Beam Therapeutics Inc. Clinical-stage biotechnology company developing base-editing genetic medicines (ex vivo and in vivo) plus delivery and manufacturing capabilities for serious diseases. BFLY Butterfly Network, Inc. Butterfly Network sells handheld ultrasound probes and a connected software platform for imaging workflow, storage, and enterprise deployment. BKSY BlackSky Technology Inc. BlackSky operates an Earth-imaging satellite constellation and a software platform that delivers time-sensitive monitoring and geospatial intelligence to government and commercial customers. BWXT BWX Technologies, Inc. BWXT manufactures nuclear reactor components and fuel for U.S. government programs and provides commercial nuclear and nuclear-medicine products and services. CDNS Cadence Design Systems, Inc. Cadence sells electronic design automation software, semiconductor IP, and verification hardware used to design and validate chips and electronic systems. CEG Constellation Energy Corporation Independent power producer and energy supplier with a large nuclear fleet plus dispatchable gas/geothermal assets (via Calpine) serving wholesale and retail customers in the U.S. CLS Celestica Inc. Celestica designs and manufactures data-center hardware platforms and provides electronics manufacturing and supply-chain services across cloud and regulated end markets. COHR Coherent Corp. Coherent designs and manufactures photonic components, optical networking products, lasers, and advanced materials used in datacenter/communications and industrial markets. COIN Coinbase Global, Inc. Coinbase operates a regulated crypto trading, custody, and payments/infrastructure platform serving retail and institutional customers. CORZ Core Scientific, Inc. Operator of U.S. high-power data center campuses used for bitcoin mining and contracted AI/HPC colocation. CRDO Credo Technology Group Holding Ltd Credo designs and sells high-speed data infrastructure connectivity products (active cables and connectivity ICs) and licenses high-speed interface IP used in AI and cloud networks. CRM Salesforce, Inc. Salesforce provides cloud-based customer relationship management software and related enterprise applications to businesses worldwide. CRNC Cerence Inc. Cerence develops and licenses embedded conversational AI software and connected services primarily for automotive and transportation manufacturers. CRSP CRISPR Therapeutics AG CRISPR Therapeutics develops gene-editing medicines, including CASGEVY with Vertex, and advances in vivo and cell-therapy pipelines across cardiometabolic, oncology/autoimmune, rare disease and regenerative medicine. CRWD CrowdStrike Holdings, Inc. CrowdStrike provides subscription-based, cloud-delivered cybersecurity software via the Falcon platform across endpoint, cloud, identity and security operations workflows. CRWV CoreWeave, Inc. Provides GPU-accelerated cloud infrastructure and managed software services for AI training and inference. DDOG Datadog, Inc. Datadog provides a cloud-based platform for monitoring, security analytics, and operational insights across applications and infrastructure. DELL Dell Technologies Inc. Dell sells enterprise infrastructure (servers, storage, networking) and client devices, supported by services and in-house customer financing. DNA Ginkgo Bioworks Holdings, Inc. Ginkgo Bioworks provides cell-engineering R&D solutions, lab automation tools, and biosecurity monitoring services to enterprise and government customers. EQIX Equinix, Inc. Equinix operates a global platform of colocation data centers and connectivity services that let enterprises, networks and cloud providers deploy infrastructure and connect to partners and customers. ESTC Elastic N.V. Elastic provides search, observability, and security analytics software and a managed cloud offering built on the Elastic Stack. ETN Eaton Corporation plc Eaton designs and manufactures electrical power management hardware/systems plus aerospace components, with a pending Mobility business spin-off. FIVN Five9, Inc. Five9 provides cloud-based contact center software and AI capabilities for enterprise customer service operations. FLNC Fluence Energy, Inc. Fluence provides utility-scale battery energy storage systems plus software and services for utilities, developers, and power asset owners. FN Fabrinet Fabrinet provides advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services for OEMs of complex products. GOOG Alphabet Inc. Alphabet operates Google’s advertising-driven consumer platforms (Search/YouTube/Android) and sells cloud infrastructure and productivity software. HPE Hewlett Packard Enterprise Company HPE sells enterprise IT infrastructure and services across servers, storage, networking, and hybrid-cloud consumption offerings. HURA TuHURA Biosciences, Inc. Clinical-stage immuno-oncology company developing therapeutics intended to overcome resistance to cancer immunotherapy. HUT Hut 8 Corp. Hut 8 develops and operates power assets and data centers, providing Bitcoin mining/hosting plus high-performance computing and colocation services in North America. INOD Innodata Inc. Provides AI data engineering services (training data, evaluation, and related workflows) to large tech, enterprises, and U.S. government customers. IONQ IonQ, Inc. IonQ builds and operates trapped-ion quantum computing systems and software, selling access via cloud channels and direct enterprise/government programs, with expansion into quantum security/networking. IREN IREN Limited IREN owns and operates power-dense data centers used for Bitcoin mining and contracted AI cloud/GPU infrastructure services. JBL Jabil Inc. Jabil provides engineering, supply chain, and electronics manufacturing services for OEM customers, increasingly focused on AI/data-center infrastructure builds. JOBY Joby Aviation, Inc. Joby develops electric vertical takeoff and landing aircraft and is building an air-taxi service and related aviation software/services. KTOS Kratos Defense & Security Solutions, Inc. Kratos develops and produces defense-focused unmanned systems, hypersonic/rocket systems and test infrastructure, and satellite ground/communications hardware and software for U.S. and allied customers. LITE Lumentum Holdings Inc. Lumentum designs and manufactures optical and photonic components/systems for telecom and data-center networking plus commercial/industrial laser products. LMND Lemonade, Inc. Digital-first insurer offering renters, homeowners, pet, life, and auto insurance across the U.S. and parts of Europe. LSCC Lattice Semiconductor Corporation Lattice designs low-power field-programmable gate arrays (FPGAs) and related software used for control, connectivity, and security across communications, computing, industrial, automotive, and consumer devices. MBLY Mobileye Global Inc. Mobileye develops and sells camera-based driver-assistance compute and software (plus mapping) to automakers, largely through Tier 1 suppliers. META Meta Platforms, Inc. Meta sells digital advertising across its consumer apps and is investing heavily in AI infrastructure, messaging monetization, and consumer devices. MPWR Monolithic Power Systems, Inc. Designs and sells high-performance power semiconductor and module solutions for computing/storage, enterprise data, automotive, communications, consumer, and industrial systems. MRVL Marvell Technology, Inc. Marvell designs and sells data infrastructure semiconductors, with growing exposure to hyperscaler AI custom silicon and high-speed data center connectivity. MSFT Microsoft Corporation Microsoft sells cloud infrastructure/services and widely used productivity, security, developer, and business software with a large global enterprise distribution footprint. MSTR Strategy Inc Strategy sells enterprise analytics software and runs a capital-markets-driven bitcoin treasury strategy that issues securities to acquire bitcoin. MTSI MACOM Technology Solutions Holdings, Inc. MACOM designs and manufactures analog RF and optical semiconductor components used in data centers, telecom, industrial, defense, and satellite communications. MU Micron Technology, Inc. Micron designs, manufactures, and sells DRAM, NAND, and NOR memory and storage products across data center, client, mobile, automotive, and embedded markets. NBIS Nebius Group N.V. Nebius operates an AI-native cloud platform that sells GPU compute, storage, and managed services for AI training and inference workloads. NEE NextEra Energy, Inc. NextEra Energy is a regulated electric utility (Florida) plus a scaled renewables/storage and transmission developer/operator across North America. NET Cloudflare, Inc. Cloudflare operates a global edge network that delivers application performance, security, and developer services to businesses and developers. NNOX NANO-X IMAGING LTD Nanox develops digital tomosynthesis imaging systems and sells attached teleradiology and imaging-AI software services to healthcare providers. NOW ServiceNow, Inc. ServiceNow sells the Now Platform, a cloud software suite that standardizes and automates enterprise workflows across IT, employee, customer, and security operations. NTAP NetApp, Inc. NetApp sells enterprise storage systems plus data management software and cloud storage services for hybrid and public cloud environments. NTLA Intellia Therapeutics, Inc. Clinical-stage biotechnology company developing CRISPR/Cas9-based gene-editing therapies, led by late-stage in vivo programs in hereditary angioedema and transthyretin amyloidosis. NTRA Natera, Inc. Natera provides clinical genetic testing centered on cfDNA-based assays across oncology, women’s health, and organ health. NVDA NVIDIA Corporation NVIDIA designs GPUs and full-stack accelerated computing platforms (silicon, systems, networking and software) for AI/data centers and graphics markets. OKLO Oklo Inc. Oklo is developing advanced fission power plants under a sell-power model and is building adjacent capabilities in radioisotope production and nuclear fuel recycling. ON ON Semiconductor Corporation onsemi designs and sells power, analog/mixed-signal, and sensing semiconductors primarily for automotive and industrial end-markets. ORCL Oracle Corporation Oracle provides enterprise database software, cloud infrastructure, and cloud applications to businesses and governments worldwide. OUST Ouster, Inc. Ouster designs and sells lidar sensors plus perception software used in smart infrastructure, industrial automation, robotics, and automotive applications. PANW Palo Alto Networks, Inc. Palo Alto Networks provides cybersecurity products and subscription services spanning network, cloud, and security operations for enterprises and other organizations. PATH UiPath, Inc. UiPath provides an enterprise automation platform used to build, deploy, and govern automations and AI agents across business processes. PDYN Palladyne AI Corp. Palladyne AI develops and licenses embodied autonomy software for drones/robots and sells defense-focused avionics, engineering, and precision-manufacturing products/services. PL Planet Labs PBC Planet sells Earth-imagery data and monitoring/analytics products to government and commercial customers, and executes sovereign satellite-services programs. PLTR Palantir Technologies Inc. Palantir builds software platforms that help government and enterprises integrate data and run decisions and operations at scale, including governed AI deployments. POET POET Technologies Inc. POET develops photonics packaging and integrated optical connectivity products based on its Optical Interposer platform for AI data-center interconnect and related optical communications markets. PRME Prime Medicine, Inc. Prime Medicine develops prime-editing gene therapies for genetic diseases, with initial focus on in vivo liver programs and partnered ex vivo applications. PWR Quanta Services, Inc. Quanta Services is a specialty infrastructure contractor that designs, builds, upgrades and maintains electric power and underground utility infrastructure. QBTS D-Wave Quantum Inc. Develops and sells quantum computing systems and provides quantum-computing-as-a-service via its Leap cloud platform for commercial, government, and research customers. QUBT Quantum Computing Inc. Develops photonics-based quantum/adjacent machines, photonic components, and related software/services for optimization, sensing, and security use cases. RCAT Red Cat Holdings, Inc. Develops and sells unmanned systems (small drones plus control/mission software) and is expanding into uncrewed surface vessels, primarily for defense and government customers. RDVT Red Violet, Inc. Red Violet provides identity intelligence (risk, fraud, due diligence, and verification data products) to enterprises, government agencies, and real estate professionals in the U.S. RGTI Rigetti Computing, Inc. Rigetti builds superconducting quantum processors and delivers quantum computing via cloud access and on-premises systems for government, enterprise, and research customers. RIOT Riot Platforms, Inc. Operates large-scale Bitcoin mining in the U.S. and is repurposing power-dense sites into data-center capacity while running an electrical equipment engineering/manufacturing business. RKLB Rocket Lab Corporation Rocket Lab provides satellite launch services and designs/manufactures spacecraft, payloads, and space components for commercial and government customers. RLAY Relay Therapeutics, Inc. Relay Therapeutics is a clinical-stage biotech developing small-molecule medicines for oncology and genetic diseases, supported by a computationally driven discovery platform. RMBS Rambus Inc. Rambus designs memory-interface chips and licenses interface and security IP used in high-performance computing, data center, and other semiconductor systems. RR Richtech Robotics Inc. Designs, engineers, manufactures, and deploys service and industrial robots with an expanding software/data layer. RXRX Recursion Pharmaceuticals, Inc. Clinical-stage TechBio company using the Recursion OS platform to discover/develop drug candidates and run biopharma collaborations. S SentinelOne, Inc. SentinelOne sells subscription cybersecurity software to prevent, detect, and respond to attacks across endpoints and cloud workloads via its Singularity platform. SDGR Schrodinger, Inc. Schrodinger sells computational molecular modeling software and uses its platform to power drug discovery collaborations and proprietary therapeutics. SERV Serve Robotics Inc. Serve Robotics designs and operates autonomous delivery robots and related fleet/software services for local, short-distance logistics. SITM SiTime Corporation SiTime designs and sells MEMS-based timing semiconductors (oscillators, clocks, and resonators) used to synchronize electronic systems across datacenter, communications, industrial, auto, and consumer markets. SMCI Super Micro Computer, Inc. Supermicro designs and manufactures servers, storage, and rack-scale data-center infrastructure (including liquid-cooled AI systems) for enterprise and cloud customers. SMR NuScale Power Corporation NuScale designs and licenses small modular nuclear reactor technology and provides engineering/licensing services to support SMR power plant development. SNOW Snowflake Inc. Snowflake provides a cloud-native data platform for governed storage, processing, sharing, and analytics across major public clouds, increasingly extended to AI workloads. SNPS Synopsys, Inc. Synopsys provides mission-critical chip design (EDA) software, semiconductor IP, and (post-Ansys) engineering simulation and analysis used to build advanced electronic systems. SOUN SoundHound AI, Inc. SoundHound AI provides voice and conversational AI software that lets enterprises deploy voice assistants and task-completing AI agents across customer service, restaurants, automotive, and devices. SPIR Spire Global, Inc. Operates a satellite constellation and sells space-based RF-derived datasets and analytics for weather, aviation, and government/defense use cases. STEM Stem, Inc. Provides software, edge hardware, and services to monitor, control, and optimize solar and energy storage assets for owners, developers, and operators. SYM Symbotic Inc. Symbotic designs, manufactures, and deploys large-scale warehouse automation systems (robotics plus software) for enterprise distribution operations. TEM Tempus AI, Inc. AI-enabled precision medicine company providing genomic diagnostics plus data/licensing and clinical software products to providers and life sciences companies. TLN Talen Energy Corporation Independent power producer operating nuclear and natural gas generation, selling energy, capacity, and ancillary services primarily into U.S. wholesale markets (notably PJM). TSLA Tesla, Inc. Tesla designs and manufactures battery-electric vehicles and sells energy generation/storage systems and related software and services. TSM Taiwan Semiconductor Manufacturing Company Limited The world’s leading pure-play semiconductor foundry, manufacturing advanced and specialty chips for fabless designers and IDMs. TWST Twist Bioscience Corporation Twist Bioscience manufactures synthetic DNA products, next-generation sequencing workflow consumables, and antibody discovery libraries/services for life-science and biopharma customers. VICR Vicor Corporation Vicor designs and manufactures high-density DC power modules and power-delivery systems, and monetizes related IP via licensing/royalties. VRT Vertiv Holdings Co Vertiv designs, manufactures, and services power and thermal infrastructure used to build and operate data centers, communication networks, and other critical facilities. VST Vistra Corp. Integrated U.S. retail electricity provider and competitive power generator with a diversified fleet (gas, nuclear, coal, solar, storage) and active wholesale risk management. WULF TeraWulf Inc. TeraWulf develops and operates U.S. power-dense data center campuses for bitcoin mining and contracted AI/HPC hosting. ZS Zscaler, Inc. Zscaler provides a cloud-delivered security platform that brokers and inspects enterprise traffic to securely connect users, devices, apps, and workloads.
Note: Availability of analysis for each symbol is subject to your Patreon tier membership level.
You can support this project (to fund deeper and more frequent research across a broader set of companies) through joining as a Patreon member. Three different tiers provide different benefits depending on your goals. See below for samples of the analysis at different levels:
While you are subscribed at a particular tier on Patreon, you will have access to the Next Arc Research website where you will be able to browse the analysis of each company covered by that tier.
Note that "Top 10" etc. is based on the companies' implied growth through 2030 ranking when the analysis is performed, i.e. the 10/30/100 companies with the highest implied growth.
These analyses are updated on a weekly basis around the 7th, 14th, 21st and 28th day of each month. If there are meaningful events in the market (e.g. earning season) then updates may be delayed to the end of the week.
Here are some practical ways people often use this kind of research inside their own workflow — purely as examples tied to the features of the platform, and not as recommendations or investment advice:
None of this is investment advice. Everyone’s financial situation, risk tolerance, and goals are different, so please consult a licensed financial adviser before making any investment decisions.
The Next Arc Research framework is inspired by Emad Mostaque's "The Last Economy" thesis on the transformative impact of AI and exponential technologies. Rather than extrapolating from historical trends, I analyze how companies are positioned to capture value in a world where AI dramatically accelerates innovation, reduces costs, and enables new business models.
This platform leverages the latest AI reasoning models. Each model performs real-time web research and multi-step reasoning to produce comprehensive analyses that go beyond traditional financial metrics; all through a lens of a tech-optimistic future.
I've spent 30+ years working and investing in tech. I worked at Netscape, Yahoo!, Google and many startups in Silicon Valley - most recently in AI and LLM technology.
As a retail investor I invested in Bank of America during the 2008 Great Recession, Amazon before they got big and NVIDIA when they still focused on gaming. These investments allowed me to quit regular work and spend some time on Next Arc Research to find the next companies that are going to drive outsized returns in our tech-optimistic future. I resolved that anything I developed would be made available to others.
While I am hopeful for a tech-optimistic future of abundance for all, I also believe that the surest way to guard against being cut out of that future is to own a part of it.
Please reach out via my Patreon.
Explore these free resources to get a sense of the analysis and insights available: