UncoverAlpha

Q2 2026 Channel Checks & Alternative Data: Cloud, Ad Tech and Software

I covered the cloud hyperscalers and what I see from aggregating multiple alt providers, and share some of my views on the upcoming earnings. In this…

22 hrs ago • UncoverAlpha

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June 2026

Why Token Optimization Is a Gift to the Hyperscalers

The shift away from always-buy-the-best-model is, on its surface, bearish for the AI labs and looks like it should compress the whole stack. But it is…

Jun 29 • UncoverAlpha

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Memory per Token Optimizations. Where are we, and how much more room do we have?

Software optimization techniques for lowering HBM usage and give my estimates on how much of that optimization is already captured, how much reduction…

Jun 11 • UncoverAlpha

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Most of the Economy Won't Run on the Best Model

It’s a thesis about where the money in AI actually goes once we transition to scaled-up AI workloads and how that might look different from today’s…

Jun 4 • UncoverAlpha

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May 2026

The Harness: The Moat for AI Model Providers?

The real moat that the frontier labs are building right now is not the model. It is the harness around the model and the cost of serving the model.

May 22 • UncoverAlpha

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The Market Is Pricing Meta Like It's the AI Loser. Big Mistake.

In this article, I want to walk through why I think the market is making one of its bigger mistakes of this cycle with Meta. The stock is down roughly…

May 11 • UncoverAlpha

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April 2026

Amazon, Google, Microsoft, Meta Q1 earnings: AI profits are here, custom silicon is winning

I argued that the market was wrong to punish big tech for raising CapEx because the returns on the 2023-2024 spend were already showing up in the P&L…

Apr 30 • UncoverAlpha

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Q1 2026 Channel Checks & Alternative Data: Cloud is on Fire

For this report, I covered cloud providers Google, Microsoft, and Amazon in terms of their cloud business, and some insightful signals on Microsoft…

Apr 24 • UncoverAlpha

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Left for Dead on AI, Meta and Amazon Are About to Have the Last Laugh

I break down some significant fundamental shifts when it comes to AI efforts from Amazon and Meta, and why I think both are the next two big AI…

Apr 17 • UncoverAlpha

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The Era of Subsidized AI Model Usage is Over, the IPOs are coming

There are four interconnected themes I want to walk through today, and they all converge on a single conclusion: the era of subsidizing AI model usage…

Apr 10 • UncoverAlpha

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March 2026

Every Memory Cycle Ends the Same. Until It Doesn't.

I’ve studied every major memory cycle of the last 30 years. In this article, we look at them and the numbers. But then I am going to make a case for why…

Mar 12 • UncoverAlpha

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Amazon's value in the Age of AI Agents

The changes caused by AI on Amazon: E-Commerce, AWS & Ads. How valuable each looks in a world where AI agents sit between humans and the services they…

Mar 5 • UncoverAlpha

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