How to find the next big stock in the technology market?
If you want to try to understand the next market movement, you should listen carefully to the investor calls of technology giants...
Especially what their CEOs complain about – the key lies in the infrastructure problems that these companies simply cannot solve fast enough?
The lesson we learned from the memory revolution?
In early 2024, Jensen Huang and the Nvidia ecosystem began openly discussing issues with the supply of high-speed memory, chip packaging problems, and general memory availability.
One of the clearest early signs came during Nvidia's earnings call in February 2024.
Huang explained that next-generation systems are complex to manufacture due to advanced memory and packaging requirements.
March 2024 – SK Hynix reported that HBM memory would become a double-digit percentage of total DRAM sales due to the explosion in AI demand, with the first shipments going directly to Nvidia.
By March and April, Micron had already revealed that all its production capacity for these memories was completely sold out until the end of 2025.
The situation then was very simple: Nvidia could not ship AI systems without high-speed memory (HBM). The supply of these memories was very limited, and memory manufacturers were sold out years in advance.
This last point was the clearest sign that the entire advanced memory and storage sector was going to undergo an upward repricing.
But where is the bottleneck today?
Today we can take exactly the same perspective – technology giants are deploying AI infrastructure regardless of cost, and they are telling us exactly where their problems lie.
You just need to open the earnings calls of Microsoft, Amazon, Alphabet, Meta, and Oracle, and pay close attention to what they are complaining about.
Which phrases management repeats quarter after quarter, such as the statement "demand exceeds our capacity".
This is the simple roadmap for finding the next market demand.
In the past, the main problem was the GPU, but after that it shifted to communication networks, then to memory.
And today, the real problem is electricity, cooling systems, storage, interconnect systems, and physical space within data centers.
These companies openly tell their investors that they cannot obtain enough electricity, sufficient cooling infrastructure, grid connections, or fast storage systems to meet the insane demand for artificial intelligence.
Are these companies essentially revealing to us where hundreds of billions of dollars are about to flow?
Microsoft, Google, Amazon, and Meta are set to collectively spend over $320 billion on AI infrastructure in 2026, and more than 60% of this insane amount will go directly to electricity infrastructure, cooling systems, and physical construction of new data centers – so is that exactly where the big money of the future lies?
Coming soon – which energy companies are in focus?