Aaron Ross

• Meta (META) is the clearest publicly investable way to gain exposure to AI-enhanced advertising and social platforms; monitor whether AI spending continues to improve profitability.
• NVIDIA (NVDA) may benefit from rising AI infrastructure demand, including ByteDance’s reported planned order of 20,000 H200 chips, but treat this as evidence of demand—not a forecast of stock performance.
• Treat ByteDance as a private-market opportunity only: its reported $550 billion valuation is not a price target, and access, liquidity, and geopolitical risks warrant careful diligence.
• Monitor TikTok Shop’s reported U.S. sales growth of more than 108% in 2025, while watching for changes to its U.S. ownership and regulatory arrangements.

• Anduril has promising autonomous-defense milestones, but it is private, so there is no public ticker or direct public-market investment route.
• Treat autonomous defense as a theme to monitor, not a specific trade; watch for congressional funding and evidence that Anduril’s systems move from testing to operational deliveries at scale.

Erebor is a private-market opportunity, not a publicly traded stock; there is no IPO timeline, and access may be limited. Treat any private offering cautiously: the reported $8 billion pre-money valuation is unconfirmed, implies roughly 85× annualized revenue, and the bank is not yet profitable. The broader opportunity is in stablecoin and digital-asset banking infrastructure, but regulatory shifts, customer concentration, and competition from established banks are key risks. No specific public-stock trade or price target is supported by these insights.

• Isomorphic Labs is a high-risk, early-stage private opportunity, not yet available to most public investors; watch for its first human trials, now expected by the end of 2026, before treating its AI claims as proven.
• For public exposure, Novartis (NVS) and Eli Lilly (LLY) have milestone-based Isomorphic partnerships—up to $1.2 billion and $1.7 billion, respectively—but those payments depend on successful progress, and no resulting drug success is reported.
• Alphabet (GOOGL/GOOG) offers indirect exposure, but Isomorphic is estimated at only 0.2–0.3% of Alphabet’s valuation, so its progress is unlikely to materially drive Alphabet’s investment case.
• In AI drug discovery, prioritize verified clinical and regulatory milestones over technology claims or market-size forecasts; the insights provide no specific price targets or enough evidence to recommend RXRX, SDGR, or JNJ.

Saronic is not publicly investable and has no announced IPO; avoid treating secondary-market pricing as an accessible opportunity, especially given its roughly 46× 2025 revenue valuation. For exposure to the theme, monitor publicly traded shipbuilders and defense contractors such as HII, GD, RTX, and NOC, but the insights provide no specific buy signals or price targets. Watch for Saronic’s Navy MUSV trial results after October, the potential $15 million award, and progress toward Port Alpha’s planned 2028 production before judging whether the growth story is translating into repeat business.

• Atoms is a high-risk, private investment opportunity—not publicly accessible; track disclosed contracts, revenue, and repeat deployments before treating its funding or mining examples as proof of commercial success.
• For public-market exposure, monitor Uber (UBER) for confirmed Atoms partnerships or autonomous-delivery deployments; the reported investment alone does not establish a commercial deal.
• Consider Caterpillar (CAT) and Komatsu (6301.T) as established autonomous-mining players, but the insights provide no company-specific forecasts or price targets.
• The broader robotics and automation theme has potential, but prioritize companies that demonstrate repeat customer adoption and measurable productivity gains; no specific buy recommendation or price target is provided.

Investors seeking direct, liquid exposure to the AI power boom should look at Oklo Inc. (OKLO), the leading publicly traded pure-play developing advanced fission reactors for data centers. Maintain core exposure to NVIDIA Corporation (NVDA), whose power-intensive Blackwell computing platform is the primary catalyst forcing tech giants to secure off-grid energy sources. Broaden exposure across the Advanced Nuclear & SMR Energy Sector—especially suppliers in the domestic HALEU uranium enrichment chain—to capitalize on government-backed deployment targets through 2030. Accredited investors should monitor high-conviction private market leaders like Valor Atomics and Amazon-backed X-energy, which has already secured a commercial order book exceeding 11 gigawatts. Track Nuclear Regulatory Commission (NRC) licensing milestones and domestic fuel production progress as key buy signals before expanding capital across the advanced reactor ecosystem.

To gain direct exposure to the booming physical AI and simulation sector, consider investing in NVIDIA (NVDA), a key strategic backer of leading private simulation startup Descartes. You can also capture broader market upside through major financial institutions like BlackRock and JP Morgan, which are backing massive industrial AI initiatives such as Project Prometheus. While Project Prometheus and World Labs are currently private companies unavailable to retail investors, their multi-billion dollar valuations signal massive long-term growth for industrial automation. Monitor these private developments closely while positioning your portfolio in publicly traded hardware providers and financial backers driving the physical AI revolution.

Investors should prepare for the Anthropic IPO, as the company is rapidly dominating the enterprise AI sector with a projected $47 billion revenue run rate by 2026. To gain indirect exposure before the listing, consider Google (GOOGL) and Amazon (AMZN), which both hold multi-billion dollar equity stakes and provide the essential cloud infrastructure for Anthropic’s growth. Be cautious of legacy software and education stocks like Chegg (CHGG), which face significant disruption as AI automates coding and tutoring services. For a broader play on the "knowledge economy," look toward the Healthcare and Mid-Market sectors where Anthropic is currently deploying engineers to automate trillions of dollars in technical debt and paperwork. While the growth is explosive, monitor the $65 billion private valuation closely, as the company must maintain "vertical" growth to justify its premium pricing against low-cost competitors.

Investors should prepare for the SpaceX IPO, which seeks a $1.75 trillion valuation by pivoting from a rocket company into a massive AI infrastructure and internet provider. The highest conviction growth driver is the Starlink segment, which is projected to reach $20 billion in revenue by 2026 through high-margin enterprise contracts with major airlines and cruise lines. You can play the AI infrastructure boom through NVIDIA (NVDA), as SpaceX currently operates a massive cluster of 550,000 GPUs to rent computing power to giants like Google and Anthropic. Monitor the post-IPO acquisition of Cursor, a coding startup used by the Fortune 500, which will give SpaceX a dominant position in enterprise software and proprietary data. Be aware of the valuation risk, as the company is priced for perfection and relies on AI compute contracts that include volatile 90-day cancellation clauses.

For the most direct exposure to the AI boom, maintain a core position in NVIDIA (NVDA), as it remains the "gold standard" for data center infrastructure and holds a dominant market ecosystem. Shift your focus from high-priced AI model providers like OpenAI to "Neo-Cloud" infrastructure plays like CoreWeave and Lambda, which are currently undervalued relative to their massive revenue growth. Keep a close watch for the upcoming Cerebras IPO and monitor Groq, as the market shifts from training models to the multi-billion dollar "inference" sector. Consider private or secondary market exposure to Base 10, a "hidden gem" optimizing GPU efficiency that is already generating nearly $1 billion in revenue. For a long-term "picks and shovels" play, invest in a basket of small nuclear reactor companies to capitalize on the massive electricity demands of next-generation AI data centers.

Investors should prioritize Google (GOOGL) as a strategic "hyperscaler" play, benefiting from its 14% stake in Anthropic and its proprietary TPU hardware that serves as a viable alternative to NVIDIA. For those seeking exposure to the AI energy bottleneck, focus on Small Modular Reactor (SMR) companies like X Energy or Oklo, as these fission-based technologies are closer to regulatory approval than speculative fusion. Monitor secondary markets for entry points into high-growth private firms like Anthropic, OpenAI, and Together AI, using a 34x revenue multiple as a valuation benchmark. To capture the "pick and shovel" demand of the AI supply chain, look for infrastructure providers and energy firms that have secured direct power "off-take" agreements with Amazon, Google, or Microsoft. Given the high volatility of individual AI models, the most prudent long-term strategy is to hold a diversified basket of AI-related stocks or the S&P 500 to capitalize on a multi-decade growth cycle.

Investors should prioritize the "picks and shovels" of the AI boom by targeting Semiconductors, Data Centers, and Electricity Production to capitalize on the critical global compute shortage. High-conviction private market opportunities exist in specialized GPU cloud providers like Lambda Labs, Together AI, and Crusoe, especially those with NVIDIA strategic partnerships. For exposure to rapid infrastructure execution, xAI is a top contender due to its massive Colossus GPU cluster and ability to monetize excess compute. While OpenAI faces dilution risks, Anthropic offers a more capital-efficient alternative for investors seeking pure exposure to high-quality AI models. To capture the long-term volume shift from model training to daily usage, focus on Inference Compute specialists like Groq and its high-speed LPU technology.

Investors should prioritize exposure to the AI Infrastructure sector, specifically targeting NVIDIA and upcoming IPO candidates like Lambda Labs and Together AI to capitalize on the critical global shortage of compute power. SpaceX remains a high-conviction long-term hold, with its Starlink satellite internet division projected to drive a future valuation between $2 trillion and $5 trillion as it scales to hundreds of millions of global subscribers. In the software space, Anthropic (Claude) is gaining significant enterprise momentum over OpenAI, making it a primary target for investors looking for the next dominant AI model provider. For specialized growth, Harvey AI represents a top-tier play in the legal and wealth management verticals, currently valued at $11 billion with substantial room for expansion into regulated industries. High-multiple stocks like Palantir (PLTR) and Tesla (TSLA) continue to be actionable public proxies for those seeking exposure to the aggressive "forward-valuation" growth seen in private markets for defense and AI tech.

Investors should target Anduril Industries in the pre-IPO secondary markets, as its recent $20 billion military framework and shift toward "Silicon Valley speed" position it for a potential 2.5x return or a path to a $1 trillion valuation if it expands into commercial security. For long-term exposure to "Physical AI," 1X Robotics offers a high-conviction play on humanoid robots for elder care, with a projected adoption tipping point starting in 2027. Look for Harvey AI as a dominant B2B play in the legal sector; its strategy of embedding engineers directly into client workflows creates a "moat" similar to Palantir (PLTR). In the defense sector, prioritize companies like Anduril that produce cost-effective autonomous hardware, such as the Roadrunner drone, which provides superior "attrition math" against traditional defense primes like Raytheon (RTX) and Boeing (BA). The overarching macro strategy is to invest in robotics and AI implementation firms that decouple economic growth from human labor, serving as a massive deflationary force over the next decade.