Photonics: OCS Roadmaps and Market Dynamics (Pt.4)

19 min · 24 Jul 2026

OCS roadmaps are splitting by workload: high-radix MEMS for scale-out and training, lower-latency silicon photonics for inference scale-up. Part 4 examines Google’s V8i push, NVIDIA’s dual CPO+OCS approach, market growth to $2.5B+, and whether microLED can solve short-reach constraints.

4Q26 Portfolio Rebalance: Positioning for a Shift in AI Infrastructure Leadership (Pt.1)

AI spending keeps growing, but the winners are changing. Our 4Q26 rebalance favors Broadcom over NVIDIA and backs suppliers enabling logic folding and optical integration. We also explore Tesla’s physical AI opportunity and the risks to TSMC’s long-term dominance.

38 min read 09 Oct 2026

14 min read 25 Aug 2026

Cerebras Is a Taxi. NVIDIA Runs the Bus Network (Pt1.)

Cerebras can generate tokens at extraordinary speed for a handful of users, but NVIDIA’s GPU architecture delivers superior economics at scale. This report explains why the fastest AI inference system does not necessarily make the best mass-market token factory — or the better investment.

29 min read 10 Aug 2026

Scoring SaaS Survival: The VAR-Resistance Scorecard (Pt.1)

Agentic AI is forcing SaaS down one of three routes: full replacement, headless survival, or owning the agentic layer. Part 1 maps the paths and scores 22 public SaaS names on our VAR-Resistance Scorecard — only two emerge as Agentic Compounders.

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