The chokepoints we’re actually watching

+60.83%

Ticker

Thesis

Entry

Current

Return

AVGO+14.81% today

Hyperscaler ASIC + networking; platform economics.

$343.94

$380.15

+10.53%

CEG-0.23% today

Nuclear baseload + reliability auctions — the power premium nobody models.

$272.15

$270.26

-0.69%

VST+5.27% today

Texas nuclear + retail; rate-setter in ERCOT.

$152.97

$162.39

+6.16%

AXTI+140.69% today

InP wafer chokepoint — 98% share of the AI-photonics substrate.

$47.36

$77.91

+64.51%

COHR+61.73% today

Transceiver consolidation; Lumentum overlap but broader fab footprint.

$251.41

$381.22

+51.63%

MRVL+211.53% today

Custom silicon + DSP; second-derivative AI infra winner.

$90.44

$279.04

+208.54%

FN+19.24% today

Fabrinet — the assembler behind every photonics nameplate.

$524.33

$583.55

+11.29%

SOITEC+188.73% today

SOI wafer supply; downstream of AXTI, upstream of every RF radio.

$51.30

$120.40

+134.70%