Beth Kindig
@Beth_Kindig
Investor with higher returns than Wall Street's Old Boys Club. Audited portfolio, automated hedge and free weekly analysis.
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OpenAI is reportedly forecasting negative free cash flow of $278 billion from 2026 through 2030 as it aggressively invests in compute capacity, per the FT.
$MSFT $AMZN $GOOG $NVDA
Model complexity and the KV cache are two primary drivers for memory, especially for inference requiring increasingly large context windows.
Context windows for OpenAI’s leading models have risen 230-260X in three years to 1.05M tokens, while Meta’s Llama 4 Scout is 10X higher at 10M.
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Global data center power demand is projected to reach 161 GW in 2026, up 31% YoY, with AI servers accounting for roughly one-third of total capacity, per TrendForce.
$NVDA $AVGO $AMD
AMD’s battle with Nvidia on GPUs looks surprisingly similar to $INTC, but there’s one major difference – AMD does not need to overtake $NVDA to win.
Below, I map out why AMD’s $AMD next-generation GPU roadmap could continue to support higher returns than Nvidia through 2028.
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Samsung is reportedly expected to more than double output of its HBM4 family next year, while total HBM output is expected to increase ~40% to 250,000 wafers per month.
$MU $SKHY $NVDA $AMD
According to Citi, monthly AI tokens used have increased at an average 31% MoM rate since the start of 2025.
$MSFT $AMZN $GOOG $NVDA
According to Citi, monthly AI tokens used have increased at an average 31% MoM rate since the start of 2025.
$MSFT $AMZN $GOOG $NVDA
Samsung is reportedly expected to more than double output of its HBM4 family next year, while total HBM output is expected to increase ~40% to 250,000 wafers per month.
$MU $SKHY $NVDA $AMD
In 2019 I said $NVDA would become the world's most valuable company. In 2021, that it would surpass $AAPL.
In July 2024, I said AMD's $AMD returns would outpace Nvidia's over five years. So far, so good.
This week, I cover why the next chapter could be AMD’s biggest. Link in bio.
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AMD $AMD is said to be increasing prices for its AI GPUs, consumer GPUs and motherboard chipsets by ~10% in Q4 as TSMC hikes prices, per TechPowerUp.
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Nvidia $NVDA CEO Jensen Huang: “I expect Nvidia to sell twice as many chips as this next year as we do this year.”
$AMD $AVGO
“Compute is worthless if you can’t power it.”
With @cvpayne, I break down the I/O Fund’s early call on Bloom $BE at $16—and another company well positioned to meet the scale of power AI will require over the next decade.
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Meta’s $META Muse reportedly recorded 1.8 million iOS downloads in the US and Canada during its first 12 days, compared with 1.3 million for ChatGPT over the same post-launch period, per Apptopia.
If Nvidia $NVDA loses 10 points of GPU share, that is not a thesis killer.
But if AMD $AMD gains 10 points, it’s transformational.
This week, I look at what AMD must do to continue its winning streak. Link in bio.
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Nvidia $NVDA CEO Jensen Huang: “I expect Nvidia to sell twice as many chips as this next year as we do this year.”
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Anthropic says its Claude AI models now “lead” 26% of its AI research and development, up from less than 1% in February 2026.
$AMZN $GOOG $NVDA
Ten banks are providing a $22 billion loan to support Alphabet and Blackstone’s new AI cloud JV, Crux AI, with Blackstone investing an initial $5 billion to bring 500MW of capacity online in 2027.
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CleanSpark last week aimed to raise $2.2 billion in junk bonds for a Meta-leased AI data center in Georgia, the first junk bond deal tied to a Meta project.
The deal reportedly drew about $10 billion in interest, 4X the planned raise.
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Under a multi-year agreement, Marvell $MRVL and GlobalFoundries $GFS are working to expand GFS’ silicon germanium capacity to support Marvell’s optical connectivity portfolio.
BofA is modeling 5-6GW of owned-capacity deployments for Meta $META in 2027 at a cost of $200 billion, with its custom silicon push expected to save Meta roughly $8.5 billion.
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