Jai Mirchandani

Founder, CIO and PM | Elm Responsible Investments | Growth, innovation and sustainability investor

[Jai Mirchandani @jaimirch]

@s_nav123 @maxwiethe And newspapers didn’t bother investing in digital until very late…

[Daniel Newman @danielnewmanUV]

$AMD is running as people are updating spreadsheets and realizing what (we expect) 8-10% of GPU market share means.

[Elm Responsible Investments @ElmRI_HQ]

The energy transition isn't just a climate story. It's an energy security story.

In our latest video, @jaimirch unpacks where the real long-term opportunities are in climate solutions — and how we separate the durable business models from the noise.

What we cover:
→ Why energy security is the new transition thesis
→ How AI data centres + transport electrification are supercharging clean energy demand
→ The companies actually enabling decarbonisation across power, transport & data

https://t.co/j1mMDxNqYw

[Shay Boloor @StockSavvyShay]

Perplexity just launched Personal Computer which is a new tool in the $AAPL Mac app that securely works across your local files, browser, & native apps like iMessage, Mail & Calendar.

It lets users access files, run tasks across devices & even keep it running 24/7 on Mac mini.

[Elm Responsible Investments @ElmRI_HQ]

TSMC Q1 2026: $35.9B revenue (+40.6% YoY), 66.2% gross margin (beat guidance by 120bps), net income +58.3%. Fourth straight record quarter. Q2 guided $39-40.2B. AI demand "extremely robust." The most important company in tech keeps delivering.

[Elm Responsible Investments @ElmRI_HQ]

CATL Q1 2026: Record revenue of RMB 129.1B (+52.5% YoY), net profit RMB 20.7B (+48.5%). Total assets top RMB 1 trillion for the first time. 50.1% domestic battery market share. The electrification wave is accelerating, not slowing.

[Crusoe @CrusoeAI]

AI in 2026 is supply-constrained across chips, data centers, and energy.

In our latest webinar, Crusoe’s SVP of Product + VP of Cloud Engineering broke down this equation and shared key lessons for AI builders.

Learn more: 🔗 https://t.co/1v1AAc5Fju

#AI #GenerativeAI #TechTrends

[Sawyer Merritt @SawyerMerritt]

This is a great graphic that compares cost per kilometer in Australia between the top 10 ICE vehicles & top 10 EVs. The difference is huge.

Top EVs:
1) Tesla Model Y: 1.7¢
2) BYD Sealion 7: 1.8¢
3) Tesla Model 3: 1.5¢

Top ICE vehicles:
1) Ford Range: 16¢
2) Toyota HiLux: 16¢
3) Isuzu D-Max: 18¢

The Hyundai Tuscan (9th bestselling ICE car) costs 8X more per kilometer than the @Tesla Model Y. I converted all amounts above to USD.

While the graphic is for new car sales, the Model 3 and Model Y were the top two bestselling used EVs in Australia in March 2026, as used EV sales went up 138% from February, likely as Australians try to ditch petrol and diesel in favor of cheaper alternatives.

More great graphics here: https://t.co/DeIdl6HRXa

[Elm Responsible Investments @ElmRI_HQ]

ASML Q1 2026: EUR 8.77B revenue, 53% gross margin, EUR 7.15 EPS -- all beats. Full-year guidance raised to EUR 36-40B. CEO Fouquet: "Demand for chips is outpacing supply." The AI infrastructure cycle has legs.

[Jai Mirchandani @jaimirch]

WTI fell to ~$93.31, Brent to ~$95.51. Oil dropped below $100 for the first time since the blockade was announced. Markets are pricing in a diplomatic resolution. If this happens given tame inflation other than oil, we might start talking about rate cuts again 🧐

[Elm Responsible Investments @ElmRI_HQ]

Everyone braced for an inflation disaster. The PPI just told a different story.

CPI (Friday): 3.3% YoY, highest since May '24. Gasoline +21.2% in one month.

PPI (today): +0.5% MoM vs ~1.2% expected. 4.0% YoY vs 4.6% forecast. A big miss to the downside.

The Iran energy shock is real. But it is NOT transmitting into broader wholesale prices:

Core CPI: +0.2% MoM, 2.6% YoY

Core PPI: +0.2% MoM

PPI services: flat

Food: unchanged in CPI, down in PPI

Businesses are absorbing cost pressure, not passing it through. Trade margins fell 0.3%.

The pipeline is mixed. Diesel +42% upstream, but natural gas -51.7%. Not uniformly building.

Fed implications: can't cut at 3.3% headline. Don't need to hike with core behaving and PPI cooling. Higher for longer holds, but emergency tightening just got less likely.

Headline noise. Core signal. Know the difference.

[Elm Responsible Investments @ElmRI_HQ]

Everyone braced for an inflation disaster. The PPI just told a different story.

CPI (Friday): 3.3% YoY, highest since May '24. Gasoline +21.2% in one month.

PPI (today): +0.5% MoM vs ~1.2% expected. 4.0% YoY vs 4.6% forecast. A big miss to the downside.

The Iran energy shock is real. But it is NOT transmitting into broader wholesale prices:

Core CPI: +0.2% MoM, 2.6% YoY

Core PPI: +0.2% MoM

PPI services: flat

Food: unchanged in CPI, down in PPI

Businesses are absorbing cost pressure, not passing it through. Trade margins fell 0.3%.

The pipeline is mixed. Diesel +42% upstream, but natural gas -51.7%. Not uniformly building.

Fed implications: can't cut at 3.3% headline. Don't need to hike with core behaving and PPI cooling. Higher for longer holds, but emergency tightening just got less likely.

Headline noise. Core signal. Know the difference.

[Jai Mirchandani @jaimirch]

Days like today reinforces why we need to stay invested rather than trying to trade the news flow.

[Elm Responsible Investments @ElmRI_HQ]

Renewables just crossed 50% of Australia's grid for the first time. By 2050, AEMO's own plan has that number at 88% and coal at zero.
That's not a climate story. That's an energy security story.

[Daniel Newman @danielnewmanUV]

Anthropic is great, but it is also currently blacklisted by the pentagon (U.S. Govt is largest customer of Palantir).

How exactly does it plan to eat $PLTR lunch? 😮‍💨

[Rohan Paul @rohanpaul_ai]

Financial Times: Perplexity just pulled off a 50% revenue jump in 1 month while moving harder into AI agents.

In March, estimated annual recurring revenue moved above $450M.

A search engine, even an AI-native one, is easy to understand and hard to monetize at the level venture investors expect.

An agent is different because it does work, consumes more compute, and gives a company permission to charge more when usage rises.

The story is not simply that Perplexity is growing fast.

It is that the company appears to be moving away from a clean subscription business toward usage-based economics, where revenue can scale with heavier workloads but also becomes more volatile and harder to compare month to month.

The deeper logic is competitive.

Perplexity’s original promise was AI search, a category that invited comparisons with Google and earned attention by making search feel newly conversational.

But search alone is a thin moat when larger rivals control models, distribution, and capital.

Agents offer a more defensible position because they turn AI from an interface into labor.

---

Link to their full article in comment.

[Financial Times @FT]

Perplexity revenue jumps 50% in pivot from search to AI agents https://t.co/R6BhLNWxIk

[Shay Boloor @StockSavvyShay]

$TSLA may ultimately be remembered as the company whose autonomy lead unlocked the robotics revolution

If Tesla truly solves autonomy then the real opportunity expands into labor, entirely new end markets and a new industrial frontier for humanity.

[Milk Road Stocks @MilkRoadStocks]

AROUND 15-18 SHIPS PASSED HORMUZ IN THE LAST 24 HOURS

This is largest amount of traffic we've seen through the Strait of Hormuz since March 1st.

Here are the previous numbers for context:

Before the war, the Strait handled 130+ ships per day.

Right now, we’re at roughly 10% of normal flow.

But here’s the shift:

Throughout most of March, traffic averaged just 2 ships/day. But now we’re consistently seeing double digits.

So yes, it’s still low but it’s a meaningful improvement.

That said, this won’t ease pressure on oil just yet.

For that, the Strait needs to fully reopen at scale.

We track the Strait of Hormuz traffic daily.

Follow along if you want to stay ahead of this trend.

[Crusoe @CrusoeAI]

We were proud to see our partnership with @FormEnergyInc featured in @climate!

🔋 Form’s iron-air batteries will deliver 12 GWh of multi-day storage to our AI factories, supporting next-gen #AIinfrastructure.

Learn more: 🔗 https://t.co/AbcyxkV1A8

#Energy #Sustainability

[Daniel Newman @danielnewmanUV]

100% hit rate. ‘Buy the fear’ is a real thing. 🙃