Market View
AI Industry Analysis
Companies, supply chains, investment logic, and industry reports. This hub organizes research notes; it does not provide entry points, price targets, or stock recommendations.
OPENAI
OpenAI
OpenAI is the company behind ChatGPT, API products, Sora, and enterprise AI platforms.
- Who Owns OpenAI? Investors, Microsoft's Stake & the Nonprofit-for-Profit Structure OpenAI is not a normal company. The OpenAI Foundation controls governance, OpenAI Group PBC holds the commercial business, and Microsoft, SoftBank, Amazon, NVIDIA, employees, and other investors hold the economics. Here is the clean ownership map.
- Who Runs OpenAI? The Founders, Current Executives, and the Geniuses Who Left Who are the people behind ChatGPT? This piece introduces OpenAI's six founders, its current core executive lineup, and the geniuses who left to start their own ventures or join rivals, so you can understand where this team came from and where it's headed.
- OpenAI's Legal Battles: The Musk Lawsuit, Copyright Cases, and Regulatory Pressure Explained Beneath the valuation, the law is OpenAI's biggest uncertainty. This piece breaks down the first-instance verdict in Elon Musk's lawsuit, the New York Times copyright case, Europe's GEMA ruling, and the regulatory scrutiny of the nonprofit conversion plus EU AI Act pressure.
Showing 7 of 11 reports.
GOOG
Google (Alphabet)
Google brings together Gemini, DeepMind, TPUs, Search, Cloud, and Workspace distribution.
- Even Google Admits It's Behind Claude: The Co-Founder's Leaked Memo In April 2026, a leaked internal memo revealed that Google co-founder Sergey Brin admitted Gemini was trailing Anthropic's Claude in AI coding, and ordered an elite team to close the gap. This piece unpacks what the memo said, Google's counterpunch, and how to read this rare bout of self-criticism.
- How Many Versions of Gemini Are There? Flash, Pro, Omni, and Flash-Lite Explained Gemini is a whole lineup of Google models, each built for a different job. This piece walks you through Flash, Pro, Flash-Lite, and Omni from four angles—speed, cost, long context, and multimodality—so you can see where each one sits and how to pick.
- Does Gemini or ChatGPT Have More Users? The Question Hides Three Traps Google says Gemini has 900 million users, OpenAI says ChatGPT has 900 million too, but these two '900 millions' simply can't be compared head-to-head. This piece teaches you to see through the metric traps behind AI platform user numbers, without declaring a winner for either side.
Showing 7 of 10 reports.
ANTH
Anthropic
Anthropic is the company behind Claude, enterprise safety work, long context, and AI coding workflows.
- The Anthropic IPO Explained: What a Confidential S-1 Is, What We Know So Far, and How to Participate by Region Anthropic confidentially filed a draft S-1 with the SEC. This piece breaks it down in plain terms: what a confidential filing is, why you can't find its financials yet, which numbers we can actually confirm, and how investors in Taiwan, the United States, Japan, and mainland China can participate later.
- The Enterprise AI Battle: Anthropic vs OpenAI, and What Really Separates Claude from ChatGPT Anthropic and OpenAI share the same origins and now compete head-on, yet they're walking opposite paths: one wants to be the AI for enterprises, the other the AI for the masses. This piece uses one table and six angles to unpack the difference between the two companies behind Claude and ChatGPT.
- How Did Claude Code Become Anthropic's Growth Engine? The Business Comeback of an AI Coding Tool Not long after launch, Claude Code became one of Anthropic's fastest-growing revenue engines, with annualized revenue blowing past several billion dollars. This piece breaks down, from a business angle, why it took off in the enterprise market and which rivals it faces.
Showing 7 of 12 reports.
SPCX
SpaceX & SpaceXAI
SpaceX, SpaceXAI, Starlink, Starship, and Musk infrastructure are tracked as one industrial stack.
- SpaceX IPO Deep Dive: Key S-1 Takeaways, Traps, and How Investors Can Access It by Region SpaceX listed in June 2026 (ticker SPCX), setting the largest IPO in history. This piece reads its prospectus directly: first the key points investors need to understand, then the traps most likely to mislead, and finally how investors in Taiwan, mainland China, the United States, and Japan can actually buy it.
- Who Owns xAI? SpaceXAI Investors, Funding & the SpaceX Merger xAI is no longer a standalone company. SpaceX acquired xAI in 2026, folding Grok, X, and Colossus into SpaceXAI. This page maps xAI investors, the $20B Series E, NVIDIA and Cisco's role, and how the SpaceX-xAI merger changed ownership.
- Why Did Grok Go Open Then Closed? xAI's Openness Strategy Took a Turn Grok-1 was once an open-source flagship; today's flagship is fully closed. The turn isn't about technology — it's the business choice of a latecomer AI company moving from grabbing mindshare to making money.
Showing 7 of 10 reports.
PPLX
Perplexity
Perplexity is an AI search and answer-engine company with a developing advertising model.
- Who Owns Perplexity? Investors, Backers & Funding Rounds Perplexity has not published a full shareholder list, but official and reported funding data point to NEA, IVP, NVIDIA, Jeff Bezos, Databricks, SoftBank, Accel, and others as major backers. Here is the clean investor map.
- What Is Perplexity's Answer Engine? How It Differs from Search Engines and Chatbots An answer engine doesn't hand you a list of links. It reads the web for you first, then packages everything into an answer with sources attached. A plain-language guide to how it works (RAG), how it differs from Google Search and ChatGPT, and the impact it has on website traffic.
- What Is Comet? Perplexity Bets Its AI Browser on the Next Gateway Comet is Perplexity's AI browser that can operate web pages on its own, and it's now free to download. Here's a clear look at what it does, the Computer agent it pairs with, the risks security researchers have flagged, and its browser war with ChatGPT and Google.
Showing 7 of 12 reports.
MISTRAL AI
Mistral AI
Mistral AI is a European model company focused on open strategy and enterprise deployment.
- Who Owns Mistral AI? Investors, ASML's Stake & Funding Rounds Mistral AI is private, so the full cap table is not public. This guide maps the known investors, ASML's reported stake, Mistral funding rounds, and the compute partnerships behind Europe's sovereign AI champion.
- ASML Invests in Mistral: How to Read the Strategic Alliance ASML's investment in Mistral is more than a financial round. This piece uses Series C, a roughly 10% stake, the strategic committee, and European sovereign AI to unpack the governance logic behind the semiconductor-equipment leader.
- Can European Compute Sovereignty Hold Up European compute and AI sovereignty depend on data centers, Nvidia GPUs, export controls, and energy. This piece breaks down Mistral's self-built compute, HBM, CoWoS, and supply-chain limits.
Showing 7 of 10 reports.
CHINA AI
Chinese AI Models
A neutral industry view of China's AI model ecosystem, covering companies, product positioning, ecosystems, and supply-chain constraints without stock picks or trading advice.
- What Is Doubao? ByteDance's AI Assistant and Model Family, All on One Page Doubao is the AI assistant and large-model family from ByteDance, the parent company of TikTok and Douyin. This page covers how Doubao relates to Volcano Engine, Coze, Seedance, and what ByteDance's valuation, open-source stance, and chip supply chain actually look like.
- What Is Kimi? Moonshot AI, Kimi K2, and the Valuation — All in One Page Kimi is the AI assistant built by Chinese startup Moonshot AI. This page covers founder Yang Zhilin, Alibaba's investment, the Kimi K2 open-source play, the valuation, and how it differs from ChatGPT — a quick answer to who's behind Kimi.
- What Is Qwen (Tongyi Qianwen)? Alibaba's AI Model Family, Valuation, Open Source, and Regulation, Explained on One Page Who is behind Qwen (Tongyi Qianwen), what is its relationship to Alibaba, is it open-source or closed-source, what do the ARR numbers actually mean, and how does it navigate China's AI regulations? One page on Alibaba's full-stack AI strategy.
ANALYTICS
AI Industry Notes
Observation and judgment frameworks for the AI industry: bubble debates, where the money flows, circular financing, and compute rental. Understanding structure, not chasing tickers.
- What Are AI Stocks? One Money Map to See Who Earns and Who Burns AI stocks come in countless flavors, but what you really need to grasp is how the money flows. This piece draws one money map, starting from the cloud giants' nearly trillion-dollar capex and following it down to chips, equipment, memory, server contract manufacturers, and model companies — so you can see which layer has fat margins, which is thin, which is still investing heavily, and why.
- What Is an AI ETF? How to Read Its Holdings, Types, and Expense Ratio Want to ride AI through an ETF, but there are countless AI ETFs and the differences are murky? This plain-English guide explains what an AI ETF is, the common types (pure AI theme, semiconductors, robotics, big tech), how to read holdings and expense ratios, and why two funds both named 'AI' can hold very different stocks. For educational purposes; no specific picks recommended.
- What Is AI Circular Investing? Making Sense of the Money Loop Between NVIDIA, OpenAI, and the Cloud Giants What is AI circular investing? NVIDIA plans to invest in OpenAI, OpenAI turns around and buys compute from NVIDIA and Oracle, while Amazon and Google invest in Anthropic and then collect its cloud orders. This piece lays out the web of 'invest in each other, buy from each other,' unpacks the bull-vs-bear debate, and shows you how to tell official figures from media estimates.
EXPLAINER
Supply Chain Notes
Compute, chips, memory, networking, data centers, and infrastructure constraints behind AI.
- What Is ODM? AI Server Manufacturing and ODM Stocks Explained A plain-English guide to ODM: what ODM means, how it differs from OEM and EMS, and why AI servers have put ODMs back in focus. We explain the design-plus-manufacturing model, how Taiwanese firms such as Foxconn, Quanta, Wistron, Wiwynn, Inventec, and Gigabyte fit into AI server and rack-scale manufacturing, and how to read the phrase “ODM stocks” without treating it as investment advice.
- What Is EUV? Why ASML's Exclusive Extreme-Ultraviolet Lithography Has the Most Advanced Chips in a Chokehold EUV (extreme-ultraviolet lithography) is the key piece of equipment for making the most advanced chips, and only ASML in the world can build it. This is a plain-English guide to what EUV is, how it works using light at a 13.5-nanometer wavelength, the difference between Low-NA and High-NA, and why it's both the lifeblood of TSMC, Samsung, and Intel and the core of export controls.
- What's the Difference Between a GPU and a CPU? Why Large-Scale AI Training Runs Mainly on GPUs Computers have had CPUs for ages, so why do you need a GPU to run AI? This is a plain-English take on the difference between CPU and GPU: a CPU is a handful of powerful cores, good at handling complex tasks one at a time; a GPU is a huge number of small cores, good at running many computations in parallel at once. AI training happens to be a flood of identical computations, which plays right into a GPU's strengths, while a CPU plodding through them one by one would be hopelessly slow.
Showing 7 of 32 reports.