Gilder’s Guideposts Newsletters
Is It Safe to Get Back in the Water?
It was only three years ago that Xi Jinping marched China’s proudest private companies—Alibaba (NYSE: BABA), Tencent (0700.HK), Didi (DIDIY), Meituan (3690.HK), the entire ed-tech industry—to the ideological woodshed. No warning, no due process, no gradual tightening. Just a demonstration of raw political power: the Party reminds you who owns the future. Alibaba’s Ant Group […]
Make Money from the OpenAI Value Chain
OpenAI (privately held) has become the gravitational center of the modern artificial intelligence (AI) economy, a network node around which cloud platforms, chipmakers, data-center builders, networking suppliers, sovereign AI programs, and private capital now organize themselves. Supporting this ecosystem are OpenAI’s partners who co-finance and co-construct the infrastructure that enables OpenAI’s models to grow. Microsoft, […]
Musk Must Buy GlobalFoundries, Cambricon, and Cerebras
Elon Musk has stated repeatedly and publicly that he needs between 100 billion and 200 billion chips per year for Tesla (NASDAQ: TSLA), Optimus, Starlink, and xAI. “If they cannot provide 100 billion to 200 billion AI chips within the time we need,” he’s proclaimed, “then I will do it myself.” My bet is he […]
Apple Says “Pat G. Done Good”
My first two reactions to the news that Apple (NASDAQ: AAPL) will likely shift some of the manufacturing for its M-series chips away from Taiwan Semiconductor Manufacturing Company Ltd. (NYSE: TSM) and to Intel (NASDAQ: INTC) were (1) skepticism and (2) despair. The skepticism arises because for so many years, manufacturing was Intel’s weak point. […]
Nvidia’s Circular Revenue is Unattractive, and Unimportant
As we have said elsewhere, we don’t buy the “AI bubble” thesis. We especially don’t think of NVDA as being bubble priced. It may still be slightly undervalued. Still, in a recent column, Light Reading’s International Editor, Ian Morris, makes an interesting point about potential circularity in some of NVDA’s revenue. Way back before you […]
AMD: Buy the Stock for Client and Gaming, Not Data Center AI
Advanced Micro Devices’ (NASDAQ: AMD) first Financial Analyst Day in three years revealed an ambitious plan for growth and AI leadership. AMD’s Chair and Chief Executive Officer Lisa Su presented a confident vision of multi-segment expansion, but the company’s near-term financial story is more sober, if still solid. The core investment case today lies in […]
Grok This!
By Dr. Robert Castellano For most of the past year, the world believed Elon Musk’s AI strategy had stalled. Tesla (NASDAQ: TSLA) stopped discussing Dojo, the company’s custom-built supercomputer, and xAI’s Grok model appeared sporadically with little technical transparency. Meanwhile, Nvidia GPU orders soared, Tesla expanded its data center footprint at unprecedented speed, and Musk […]
Trump’s Ghostworkers and the Shrinking U.S. Economy
By Richard Vigilante Begin with a simple picture: The first chart shows foreign-born vs. U.S.-born employment growth since 2020. Of the 11.1 million new jobs added after the pandemic, 4.5 million—40%—were filled by foreign-born workers. Strip them out, and the post-pandemic recovery collapses. Keep them in, and you see the modern American labor market for […]
An Earthquake Is Coming
By John Schroeter and George Gilder Artificial intelligence is creating huge opportunities for investors. And some of the most powerful opportunities have nothing to do with microchips or accelerators or silicon or semiconductors or any of that stuff. The opportunities are in infrastructure, real estate, and heavy industry. In the world of computation, a huge […]
Nvidia’s Power Surge, Powers Vertiv
Cooling is already a core determinant of data center economics. The next generation of Nvidia (NASDAQ: NVDA) AI systems will make cooling even more critical, making Vertiv’s (NYSE: VRT) partnership with NVDA a huge opportunity for investors. With Blackwell-class racks already pushing toward 120–140 kW and forthcoming Rubin Vera platforms expected to reach hundreds of […]