KY

[Olivier Carnal @williams44631]

$KEEL is EXACTLY where CIFR was before CIFR started announcing deals. As you can see CIFR did a 5X after they started signing deals.

>> I think KEEL will do the same and 5X to $20+ once deals are announced!

[Victorious Sun @meowmeowdj]

$HUT Take a listen to how Hut 8's CEO @ashergenoot views his compensation.

“1) WE’RE PERFORMANCE BASED.

2) WE DON’T GET PAID UNLESS WE DRIVE VALUE.

3) WE DON’T GET ANYTHING UNTIL THE END OF THE PERIOD. SO THERE’S AN INCENTIVE TO HOLD AND CONTINUE TO GROW THAT VALUE.”

Even after a recent dip Hut 8 stock is up 125% from this Nov, 2025 interview with @McnallieM & @cazenove_uk

$IREN

[IronCat @IBHenryJ]

$KEEL increased +$12.97M 🫡

[Ellis @EllisKryla]

#keel $KEEL
Dark pool!

Some Institution just bought 473K shares at the $7 price after hours.
This is worth $3.3 Million!

Notice they could of been buying it for 6.74 yet they bought at the round number $7 👀👀

[Elon Musk @elonmusk]

True

[Victorious Sun @meowmeowdj]

🚨 $HUT Analyst price targets keep moving higher for Hut 8. We are just at the start of a re-rating.

"STORY JUST GETTING STARTED" 🔥🔥🔥

👉Cantor just increased their price target to $155.
🤯Yesterday, Lucid Capital set theirs to $226.

[Art of Speculation @ArtofSpecuycky]

我把AI未来3年的核心瓶颈排了个序，大概是这样：

1. 存储（HBM + DRAM + eSSD，已经涨价、签长单、利润兑现）
2. 光互连（800G / 1.6T + Scale-Up + Scale-Across，连接接棒算力）
3. 先进封装（CoWoS + CoPoS + HBM封装，HBM和GPU放量的前提）
4. ASIC + Networking（自研芯片、交换芯片、SerDes、DSP，MRVL/AVGO核心位置）
5. 电力 / AI Factory（变压器、电网、UPS、800V DC、BBU，并网容量是真瓶颈）
6. 液冷（DLC、CDU、冷板，高功率机柜必选项）
7. 核能 / 发电（长期空间巨大，但兑现节奏慢于电力设备）
8. PCB / ABF / CCL（AI服务器和先进封装配套材料，真实受益但控制力弱于前面）
9. MLCC / 被动元件（高频高压高功率带来用量提升，属于配套瓶颈）
10. 半导体设备（检测、量测、测试、先进封装设备，卖水给淘金者）
11. Physical AI（机器人、自动驾驶、工业AI，空间大但2026仍偏预期）
12. Agent / 数据层（方向确定，但赢家和利润分配还不��晰）
13. 稳定币 / AI金融（AI Agent支付层，空间大但商业化还早）

未来三年市场会越来越关注：谁是真瓶颈，谁能把瓶颈兑现成利润，谁控制下一代架构。
我目前最看好的，还是存储第一，光互连第二，先进封装第三。因为AI发展到最后，拼的是谁真正卡住了整个产业链的命脉。

[Teng Yan @tengyanAI]

Everyone thinks the AI bottleneck is compute. Well...not exactly.

From the A100 to the B200, compute scaled 8x. Memory bandwidth scaled 4x. Capacity only 2.4x.

The gap between what a chip can calculate & what you can actually feed it is the real wall.
A thread on memory:

[matthew sigel, recovering CFA @matthew_sigel]

🚨BIG HIRE: Mark Edelman joins $HUT (mkt cap $15B) as head of IR from NextEra ($NEE, mkt cap $176B), following 17 years as an investment banker at $JPM

[Equity investor @equitydd]

Photonics Powering The AI Revolution

$MXL $CRDO $LITE $AAOI $FN
$MRVL $COHR $MTSI $AXTI

[Paradis Labs @ParadisLabs]

I really like $MTSI for the upcoming parabolic CPO growth in 2027+

TLDR:

Demand for the components they make/design will only intensify w/ CPO.

E.g. their SiPh drivers + CW lasers.

With management confirming:
-> "Our future products are increasingly optimized for CPO"
-> "We think that the CPO transition is a benefit to MACOM"

This sits on top of 800G/1.6T volume tailwinds that they're already enjoying:
- data center revenue keeps growing each quarter
- backlog is huge
- DC guidance keeps getting raised

With 3 (unnamed) hyperscalers already using Macom's chipset for pluggables/LPO.

I don't personally look too deep into financials for smaller MC names e.g. $SIVE etc.

But when you get to $MTSI's scale, that becomes important:

They're net cash positive + strong op. cash flow.

Plus GM expansion to ~58% w/ mix shift towards DC/CPO relevant products.

With Q3 quidance implying further expansion to ~60%.

Not to mention that 3.2T roadmap is being previewed currently, so you'd get further top line growth on top once rolled out eventually.

Green ticks all round.

Not to mention the £45M investment into $IQE which secures them InP capacity for lasers used in CPO/pluggables.

Which de-risks supply significantly (+ boosting IQE outlook in the process).

Fairly safe compounder imo, even at current premium valuations.

[Investing visuals @InvestingVisual]

A breakdown of the photonics value chain and best positioned business:

Layer 1: Materials & wafers
• $GLW
• $AXTI
• $IQE
• $AIXA
• $AMS

Layer 2: Core photonic devices
• $IPGP
• $COHR
• $LITE
• $LASR
• $SIVE

• Layer 3: Components & modules
• $AAOI
• $MTSI
• $FN
• $VIAV
• $LPTH

Layer 4: Systems & equipment
• $ASML
• $BESI
• $ASM
• $LPKF
• $MKS

Layer 5: Test, metrology & yield
• $CAMT
• $FORM
• $AEHR
• $ONTO
• $VIAV

[Unclestocknotes @Unclestocknotes]

1. 材料
AXTI (AXT Inc.)
GLW (Corning)
ALMU (Aeluma Inc)

2. 晶圓與矽光子代工
TSM
INTC (Intel)
TSEM (Tower Semiconductor)

3. 光學元件 (Optical Components)
COHR (Coherent)
AAOI (Applied Optoelectronics)
MTSI (MACOM)
LPTH (LightPath Technologies)

4. 雷射與光源
LASR (nLight)
COHR (Coherent)
LITE (Lumentum)

5. 收發器與模組
LITE (Lumentum)
AAOI (Applied Optoelectronics)
COHR (Coherent)

6. 封裝與光學代工製造
AMKR (Amkor)
ASX (日月光)
FN (Fabrinet)
POET (POET Technologies)

7. 測試設備
AEHR (Aehr Test Systems)
ONTO (Onto Innovation)
VIAV (Viavi Solutions)
FORM (FormFactor)

8. 交換器、重定時器與互連
AVGO (Broadcom)
MRVL (Marvell)
CRDO (Credo)
ALAB (Astera Labs)

9. 網路設備與系統整合
ANET (Arista Networks)
CSCO (Cisco)
CIEN (Ciena)

[Sergey @SergeyCYW]

Photonics is becoming the real bottleneck in AI infrastructure

Copper is hitting limits in bandwidth, power, and distance. Optical is replacing it fast. Whoever controls photonics controls the pace of AI buildout.

Here are key public players 👇

$MTSI MACOM Tech +20% NTM growth | $19.6B Market Cap. Critical analog chips inside optical modules. Leading Linear Pluggable Optics removes DSPs, cutting power draw at scale. Positioned for hyperscalers optimizing energy per bit.

$GLW Corning +20% NTM growth | $114.5B Market Cap. Supplies optical fiber backbone inside data centers. High-density glass and fiber physically connect racks, switches, and transceivers. Quiet enabler of AI infrastructure scaling.

$CIEN Ciena +24% NTM growth | $67.3B Market Cap. Focused on long-haul optical networks and routing. Less exposed to short-reach AI clusters, but still benefits from growing data movement between distributed data centers.

$COHR Coherent +25% NTM growth | $60.2B Market Cap. Controls key optical materials and transceiver tech. Strategic supply ties with Nvidia reinforce positioning in high-speed modules and photonics platforms.

$FN Fabrinet +29% NTM growth | $24.6B Market Cap. Manufacturing backbone for optics. Assembles complex modules for Cisco, Lumentum, Coherent. If volumes surge, Fabrinet captures it first.

$MRVL Marvell Tech +33% NTM growth | $117.7B Market Cap. Owns PAM4 DSP layer inside optical modules. Converts and conditions signals between electrical and optical domains. Essential for scaling 800G and beyond.

$ALAB Astera Labs +59% NTM growth | $29.3B Market Cap. Solves rack-level bottlenecks. PCIe/CXL retimers and smart cables link GPUs across nodes. Positioned where compute meets interconnect.

$AVGO Broadcom +74% NTM growth | $1.8T Market Cap. Controls switching silicon and AI interconnect chips. Routes traffic across GPUs and clusters. Core infrastructure layer for hyperscale AI fabrics.

$AEHR Aehr Test Systems +75% NTM growth | $2.3B Market Cap. Provides wafer-level burn-in for silicon photonics. Ensures reliability before packaging. Critical for scaling high-power optical components.

$CRDO Credo Tech +77% NTM growth | $31.1B Market Cap. Focus on low-power connectivity. AEC cables and optical DSPs reduce energy load inside racks. Positioned for short-reach high-speed interconnect demand.

$AAOI Applied Optoelectronics +111% NTM growth | $10.7B Market Cap. Vertically integrated transceiver supplier. Builds lasers, modules, full stack. Direct exposure to hyperscaler orders and 800G/1.6T ramp.

$LITE Lumentum +115% NTM growth | $58.8B Market Cap. Key supplier of EML lasers. Generates light inside high-speed modules. Without lasers, no optical transmission. Pure leverage to data center upgrades.

$POET POET Technologies +826% NTM growth | $1.1B Market Cap. High-beta disruptor. Integrates photonics and electronics on one interposer. Targets 1.6T optical engines with lower heat and latency constraints.

[Eric Trump @EricTrump]

🚨 Proud to announce: @ABTC just climbed another spot and is now the #15 largest public Bitcoin treasury in the world.

7,500+ Bitcoin secured.

Nearly 90,000 mining machines online.

700+ Satoshis per Share — more than doubled since our Nasdaq debut.

All of this in just 8 months.

No one is moving faster and American Bitcoin is leading the charge.

Congratulations on #15! Next up - Block Inc (XYZ)

[Victorious Sun @meowmeowdj]

$HUT Hut 8 is scaling its GPU-as-a-Service offering (https://t.co/9dLNoIhiTY) from ~1,100 GPUs to 20,000+ GPUs. Highrise AI is @Hut8Corp's wholly owned subsidiary and dedicated GPU compute business within the company’s layered “power → digital infrastructure → compute” ecosystem.

More key roles are being filled as the company aggressively scales.

[The Bitcoin Historian @pete_rizzo_]

JUST IN: CNBC JUST REPORTED ELON MUSK'S $2,000,000,000,000 SPACEX IPO IS EXPECTED NEXT WEEK

THEY WILL GO PUBLIC WITH OVER 8,000 #BITCOIN ON THE BALANCE SHEET

THE 1st TRILLION BTC COMPANY IS COMING 🔥

[X Freeze @XFreeze]

Elon completely stole the banquet 😂

He was already posing for someone else when Xiaomi CEO Lei Jun walked up to his idol asking for a selfie

Elon instantly poses with the funniest face

does the same funny expression with Apple CEO Tim Cook too

Now Elon became the MAIN attraction across Chinese media and the entire world 🤣

[Anthony Pompliano 🌪 @APompliano]

I sat down with Hut 8 CEO @ashergenoot to discuss how he built a $12 billion company by embracing AI data centers and bitcoin mining.

This conversation is packed with unique, nuanced insights into an industry that everyone is obsessed with right now.

Enjoy!

YouTube: https://t.co/SGNhVrHGth
Apple: https://t.co/5mqmU92fuG
Spotify: https://t.co/IQSRJEYuNw

TIMESTAMPS:
0:00 - Intro
0:45 - Bitcoin mining to AI: the transition
3:09 - Data centers & community pushback
8:52 - Co-location & energy campuses
11:42 - Mega sites vs. smaller urban campuses
13:08 - Hardware innovation inside the data center
17:15 - How Hut 8 lands billion-dollar contracts
20:01 - The River Bend financing structure
24:19 - Build vs. acquire strategy
25:18 - Bottlenecks slowing AI buildout
27:36 - What keeps Asher up at night
30:40 - American Bitcoin update

$HUT

[The Kobeissi Letter @KobeissiLetter]

This is absolutely insane.

President Trump is currently flying to China with all of the following people to request "deals" with China's President Xi:

1. Elon Musk, Tesla and SpaceX CEO
2. Jensen Huang, Nvidia CEO
3. Tim Cook, Apple CEO
4. Larry Fink, BlackRock CEO
5. Stephen Schwarzman, Blackstone CEO
6. Kelly Ortberg, Boeing CEO
7. Brian Sikes, Cargill CEO
8. Jane Fraser, Citigroup CEO
9. Larry Culp, General Electric CEO
10. David Solomon, Goldman Sachs CEO
11. Sanjay Mehrotra, Micron CEO
12. Cristiano Amon, Qualcomm CEO

President Trump also says there are "many other" CEOs joining him on the trip who have not yet been disclosed.

Never in history has such a trip even remotely near this scale and caliber occurred.

This Trump-Xi meeting is far bigger than most realize.