The Secret of A Great AI Investor

The secret to being a good AI investor boils down to one simple thing: search for the bottlenecks. And that search has led me to a company that, I believe, is savagely mispriced.

Once you see the numbers, you won’t believe the price of this stock. And the worst thing is that you know this company very well. Unsurprisingly, I’ve decided to invest in it, so I’m going to explain to you why today.

But to do so, we need to lay out the investment thesis, cover the main bottlenecks in detail, and then focus on that company in particular. At the end of it all, we’ll also briefly discuss what the next big bottleneck investment opportunity could be.

This newsletter’s goal is to think of the next thing coming after the next big thing. And that’s what we are doing today.

By the end, I guarantee you’ll understand the industry way more than you do right now.

So let’s dive in.

What you are about to read is not investment advice. I’m just sharing my opinions in the spirit of transparency and because many of you have shown great interest in knowing what I invest in. But please do your own research before making any decisions.

The Search for the Bottleneck

Let’s face it. Investing in stocks in 2026 is mostly about AI, whether you like it or not.

It’s all about AI

Yes, there are opportunities outside of AI, but not that many. Nonetheless, the biggest performer in 2025 was none other than “boring” flash memory company Sandisk, which 10xed in a year (and has since doubled just in January alone).

You are going to learn why is that today, and also why, funnily enough, the “secret” company I’ve invested in is not Sandisk and won’t be Sandisk. I’m not a Sandisk shareholder nor will I be one in the near term.

Another victor was Palantir, again because of its AI exposure. And what about the Hyperscalers?

All their investors care about is whether their AI spending is too much or too little, and whether their AI cloud divisions are growing, in search of any sign of AI revenue. It’s all about AI in the US. And all these guys all have $100 billion/year booming non-AI businesses.

And don’t get me started with Asian indices. Taiwan is AI leverage on steroids. The same applies to Korea. Even Japan, which plays a low-key yet very important role in AI, is heavily exposed to the ‘AI trade’.

AI. AI. AI. And once SpaceX (which has acquired xAI today), OpenAI, and Anthropic enter the public scene with trillion-dollar IPOs, who will care about anything but AI?

But how do you traverse through this AI trade? What is a good AI investment, and what is blatant speculation, a disaster waiting to happen?

What’s the key when investing is mostly about narrative and not that much about earnings?

And the answer is bottlenecks.

The bottleneck thesis

Every single big winner in AI till…

Enjoyed the introduction? Subscribe or sign in to continue with this edition.