I/O Fund

The I/O Fund is an audited tech portfolio proven to outperform institutions and famous hedge funds. We offer trade alerts, a hedge and free weekly analysis.

[I/O Fund @IOFundOfficial]

Interested in receiving free, original analysis on the top stocks in the tech sector? Sign up for our free newsletter today. Original analysis available each Friday. https://t.co/BT9j4hdMc3

[Beth Kindig @Beth_Kindig]

My updated Q2 Top 15 AI Stocks report hit inboxes this week. The report totals over 70 pages and identifies the stocks that I believe will lead the AI market.

Previous reports in 2025 identified $BE up 1100% since our first entry, an optical networking name up 620% since our lowest entry in November and a photonics position we doubled-down on with a 10% allocation up roughly 130% YTD.

Subscribe now to get my latest report. Link in bio.

[Beth Kindig @Beth_Kindig]

I still believe Nvidia $NVDA will reach $20 trillion by 2030, but that does not mean it is the best AI trade in 2026.

On Sunday in my free newsletter, I lay out three critical reasons why Nvidia’s return profile does not seem as compelling as many other opportunities in the AI trade this year. Link in bio.

[Beth Kindig @Beth_Kindig]

I remain comfortable saying Nvidia $NVDA will reach $20 trillion by 2030, but investing is all about opportunity cost.

In 2026, Nvidia may not offer the best risk/reward across AI, as custom silicon gains more market share, the CUDA moat matters less with inference, and the company faces a potential Rubin delay.
https://t.co/puTxcZIRGn

[Beth Kindig @Beth_Kindig]

Gartner projects semiconductor revenue could reach $1.3 trillion in 2026, up 64% YoY, with memory emerging as a key driver with revenue projected to rise nearly 193% YoY to $633.3 billion.

$NVDA $AMD $AVGO $MU

[Beth Kindig @Beth_Kindig]

OpenAI and Anthropic reportedly expect to spend almost $65 billion combined this year to train and operate their AI models, before nearly doubling to $127 billion next year and nearly $250 billion by 2029, per the WSJ.

$MSFT $AMZN $NVDA $AMD $AVGO

[Beth Kindig @Beth_Kindig]

Amazon says that the run rate for its chips business, or Graviton, Trainium, and Nitro on EC2, is now $20 billion and growing triple-digits YoY.

$AMZN $GOOG $NVDA

[Beth Kindig @Beth_Kindig]

OpenAI is reportedly projecting ad revenue to reach $2.5 billion this year, before scaling to $11 billion by 2027, per Axios, with the company recently beginning to pilot ads to select US customers.

$MSFT $AMZN $GOOG $META

[Beth Kindig @Beth_Kindig]

Anthropic has reportedly received offers from several VC firms looking to invest in the AI firm at valuations as high as $800 billion, per BI, which would be more than double its $380 billion valuation from February.

$MSFT $AMZN $GOOG

[Beth Kindig @Beth_Kindig]

Meta is projected to surpass Alphabet in digital ad revenue by the end of this year, per eMarketer, projecting Meta to reach $243.5 billion in ad revenue versus Alphabet’s $239.5 billion.

$META $GOOG

[Beth Kindig @Beth_Kindig]

AI reportedly could account for 36% of 3nm capacity this year, a more than 7X increase from just 5% in 2025.

$NVDA $AMD $AVGO $TSM

[Beth Kindig @Beth_Kindig]

Anthropic is reportedly considering developing its own chips, per Reuters, though the plans are currently in early stages and the AI startup may decide to continue only to buy chips instead.

$NVDA $AMD $AVGO

[Beth Kindig @Beth_Kindig]

Global chip sales reportedly rose 61.8% YoY and 7.6% MoM in February to $88.8 billion, with APAC sales up 93.5% YoY and Americas sales up 59.2%.

$NVDA $AMD $AVGO

[Beth Kindig @Beth_Kindig]

TSMC reported March revenue of NT$415.9 billion, up 45.2% YoY and 30.7% MoM on strong AI demand. Q1 revenue was NT$1.13 trillion, up 35.1% YoY and in line with estimates for NT$1.12 trillion.

$TSM $NVDA $AMD $AVGO

[Beth Kindig @Beth_Kindig]

While the attention usually goes to Nvidia $NVDA to solve the biggest bottlenecks in AI hardware, Arm $ARM is working to tackle one of the largest bottleneck of agentic AI with its new AGI CPU.

Below, I cover this new bottleneck and how Arm is aiming to solve it.
https://t.co/52CWg2SOZp

[Beth Kindig @Beth_Kindig]

Micron projects that memory content for geofenced Level 4 autonomous vehicles could rise nearly 20X over the long term, from 16GB currently to more than 300GB.

$MU $TSLA $NVDA

[Beth Kindig @Beth_Kindig]

Anthropic is reportedly considering going public as soon as October this year, with reports suggesting the firm could target raising up to $60 billion.

$AMZN $GOOG $MSFT $NVDA

[Beth Kindig @Beth_Kindig]

Data centers are projected to consume between 9% to 17% of US electricity by 2030, up from the current 4-5%, per EPRI, with the high growth scenario nearly quadrupling current electricity demand.

Notably, the EPRI says its new 2030 range is 60% above its prior estimates from 2024, reflecting accelerated data center development.
$MSFT $GOOG $AMZN $NVDA $ORCL

[Beth Kindig @Beth_Kindig]

Indian billionaire Gautam Adani is in talks with Google, Meta and Walmart’s Flipkart to develop hyperscale data centers across India, as part of a $100 billion digital infrastructure push by Adani.

$GOOG $META $NVDA

[Beth Kindig @Beth_Kindig]

AWS reached a deal with Nvidia to purchase 1 million of its GPUs including Blackwell and Rubin chips, starting this year through 2027 across its global footprint.

$AMZN $NVDA

[Beth Kindig @Beth_Kindig]

Samsung has reportedly been in discussions with Google and Microsoft over long-term memory supply deals, with reports suggesting it is considering $10 billion in prepayments from Microsoft, with any shortfall in volumes deducted from the prepayment.

$GOOG $MSFT $MU