Wayne Liang(@wliang ):One could say $AMD is one side of the barbell, as the de-risked and established setup that has high probability of working out. Extremely low risk. Now the other side of the barbell... $SLNH at ~$260M MC in the renewable AI power layer. Same ecosystem, completely different risk profile. Very early stage, much higher volatility... but the math works the same way. Increasing demand of $AMD chips → data centers → data centers need power → $TLN and $CEG dominate the AI data center power market at the moment. Going down the same chain... $SLNH provides renewable power + compute infrastructure. If $SLNH executes at a much earlier stage toward what $TLN (~$17B) or $CEG (~$106B) looks like, the asymmetry is significant. One end gives you probability. The other end gives you size of outcome. Both ride the same supercycle. (Disclosure: I have positions in both $AMD and $SLNH)

2026.05.13 17:05

One could say $AMD is one side of the barbell, as the de-risked and established setup that has high probability of working out. Extremely low risk. Now the other side of the barbell... $SLNH at ~$260M MC in the renewable AI power layer. Same ecosystem, completely different risk profile. Very early stage, much higher volatility... but the math works the same way. Increasing demand of $AMD chips → data centers → data centers need power → $TLN and $CEG dominate the AI data center power market at the moment. Going down the same chain... $SLNH provides renewable power + compute infrastructure. If $SLNH executes at a much earlier stage toward what $TLN (~$17B) or $CEG (~$106B) looks like, the asymmetry is significant. One end gives you probability. The other end gives you size of outcome. Both ride the same supercycle. (Disclosure: I have positions in both $AMD and $SLNH)

Wayne Liang@wliang

2026.05.13 15:44

$AMD is ~30% of my long-term swing account, and I'll explain why. The valuation gap between $NVDA and $AMD is way too appealing. Roughly 7.5x apart... Both produce hardware that accelerates computing, $NVDA has established a massive lead in software-driven AI ecosystems. $AMD focuses on offering superior price-to-performance value, open-source alternatives, and a combination of CPU/GPU capabilities. > $AMD just crushed Q1. $10.25B revenue (+38% YoY), $1.37 EPS, datacenter +57% YoY. > MI350 is shipping. MI400 Helios rack ships H2 2026 with 20 PFLOPS FP8, 432GB HBM4 per GPU. Direct competition with $NVDA's Vera Rubin. > $AMZN AWS just signed as an MI350 customer - the first major hyperscaler win that $AMD has been waiting on. AWS doesn't pick second sources for fun. > OpenAI (6GW commitment), $META (6GW), $ORCL, $MSFT. Customer concentration is expanding and diversifying. Being the "second source" is the only reason this valuation gap exists. As MI400 ships and AWS volumes ramp, that gap starts to fill.

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