TraderMagz Research
AI Infrastructure
Every TraderMagz research note on AI Infrastructure — thesis, what is priced in, and the live terminal state.
AI Infrastructure
9 min read
Following the AI Capex Dollar: Where $100 Actually Goes
Markets trade "AI capex" as if it were one ticker. Split an illustrative $100 of hyperscaler spend and half is semiconductors, a fifth is power, and more than a third is the physical plant (power, cooling, and buildings). The investable question is which bottlenecks stay scarce after the GPU headline cools.
NVDA
ASML
MU
VRT
ANET
ETN
AI Infrastructure
6 min read
AI Infra Dips — Astera Labs, Nebius, IREN
Hyperscaler CapEx is still the tide, but the non-GPU sleeve got sold with the GPU complex. We separate Astera’s profitable connectivity franchise from Nebius and IREN — where the drawdowns look more like dilution and delivery debates than vanished contracts.
ALAB
NBIS
IREN