Let’s be real here…

Every AI data center Nvidia ever builds needs optical transceivers to move data between GPUs.

Not because of GPU performance.
Not because of CUDA software.
Not because of rack density.

Because of physics. Electrical signals cannot move data at the bandwidth AI clusters require over distances greater than a few meters. Light can.

$INTC own data center documentation confirms fiber optic interconnects at 800G+ are required for every GPU cluster at scale.

Demand for 800G transceivers is STRONG with volume ramps underway in 2026.

$AAOI is still ONLY approximately $15B compared to peers as $LITE $COHR $CIEN at +50$B.

The GPU market is $500B+. The company supplying the optical layer those GPUs depend on for data movement is at $15B.

Rosenblatt raised their price target to $220 in May 2026, up from $140 in March.

Current price implies limited upside on Rosenblatt’s numbers relative to earlier valuations.

Now execution matters.Either the AI GPU capex cycle delivers the optical component volume the data suggests, or it doesn’t.

At current market cap vs. the $500B+ infrastructure build, valuations reflect much of the outcome.

But when execution follows $AAOI will easily run past $280, $300, $320, $350, $400.

I’m long $AAOI.

-BP

Save this.

Not financial advice. DYOR.

A friend texted me this week:

“Did you see $AAOI? What happened?”

What happened is that I bought it at $90 and he didn’t.

He’s not a bad investor. He’s a smart person.

He looked at $AAOI when I first mentioned it and said:

“It’s a small photonics company. The market cap is tiny. Too risky.”

I said: “The market cap is tiny because the market hasn’t priced the BOTTLENECK yet.”

Data centers at hyperscale cannot move AI-speed data between chips using copper.

The physics fail at that bandwidth. Optical transceivers are not optional, they are required by the laws of physics.

$AAOI manufactures the laser components that make it work.

> $124M in 800G transceiver orders from a single hyperscaler.

> 2026 guidance at $1B+. Rosenblatt raised to $220.

> Stock at $191 today from a $90 entry.

He said: “I should have listened.”

He had the same information I had.

The difference was the framework.

I’m still LONG.

The photonics bottleneck has not been solved. It is still playing out.

-BP

Not financial advice. Your money, your decision.

🚨THE BEARS HAVE BEEN WRONG ABOUT THE SAME THING FOR THREE YEARS.

And they’re about to be wrong again.

Morgan Stanley just raised their S&P 500 target to 8,300.

Year-end 2026 target: 8,000.
Twelve-month target: 8,300.

Over 12% upside from current levels around 7,400.

But here’s the line that matters most:

“Our bullish index view is an earnings story, not a multiple expansion one.”

Read that again.

EARNINGS.

> 83.2% of S&P 500 companies beat Q1 estimates.

> Morgan Stanley projects $339 EPS for 2026. That’s 23% growth, followed by $380 in 2027 and $429 in 2028.

A compounding earnings machine. Not a bubble.

Now let me show you what the bears keep getting wrong.

There’s a clip making the rounds right now.

A guy pulls up two charts side by side.

> Left chart: The dot-com era. Price ripping higher. Earnings flatlined. Pure narrative. Pure multiple expansion. Pure speculation.

> Right chart: Right now, 2023-2026. Earnings are LEADING price. AI and semiconductors are driving actual profits. Price is still CATCHING UP to the gray line.

His point? We’re not in a bubble. We’re in the middle of an earnings cycle that hasn’t fully repriced yet.

He’s right.

$MU, $SNDK, SK Hynix and Samsung, 75% of the $DRAM market are proof.

These are companies printing money faster than analysts can revise targets upward.

> The memory supercycle isn’t priced in.

> The AI infrastructure buildout isn’t priced in.

The earnings are real and the multiples are still compressing INTO the growth.

The dot-com bubble was speculation in search of earnings.

This is earnings in search of a price that can catch up.

There’s a massive difference.

So where does the money go?

$SPY and $QQQ as a passive bet + into the infrastructure that’s CAUSING the earnings surge.

Here’s where I’m positioned:

→ $IREN
→ $NBIS
→ $CIFR
→ $AAOI
→ $SIVE
→ $RKLB
→ $OUST
→ $PENG
→ $ONDS
→ $KRKNF

Every single one of these names sits inside the structural AI buildout that’s driving the future earnings Morgan Stanley just upgraded their entire index outlook for.

HERE’S THE MACRO SETUP

Morgan Stanley explicitly ties their revised outlook to AI adoption enhancing operating leverage across the S&P 500 and a rolling earnings recovery that continues to progress.

This isn’t a macro call. This is a capital allocation call.

The earnings cycle is real.
The infrastructure buildout is real.
The defense spending acceleration is real.

$QQQ and $SPY tell you the tide is coming in.

The names above tell you which boats rise the most.

The dot-com bubble was price without earnings.

This is earnings without price.

The gray line hasn’t been touched yet.

We’re mid-cycle. Act accordingly.

Still long. Still adding. Still building.

-BP

Please remember: This is not financial advice. Do your own research. I hold positions in many of the names mentioned.

Micro2Macr0: Why this Is NOTHING Like the Dot-Com Bubble!!! 😡

$NVDA x US x China agreement.

My thesis is; this is probably in exchange for Iran peace.

If I expect market to fly, and my strategy will be to take some profit, before a dip.

Lets go $IREN $NBIS $AAOI $OUST $PENG $CIFR $RKLB

-BP

Not financial advice.

0xNobler: 🚨 BREAKING

🇺🇸🇨🇳 U.S. JUST APPROVED CHINESE COMPANIES TO BUY NVIDIA CHIPS!

INSIDERS REPORT THEY WILL OFFICIALLY LIFT ALL EXPORT RESTRICTIONS, AND TRADING BANS.

CHINA ACCOUNTED FOR 25% OF NVIDIA REVENUE BEFORE THE SANCTIONS.

$NVDA STOCK JUST WENT PARABOLIC ONCE AGAIN!!

PORTFOLIO UPDATE

If you followed me this year, your short-term portfolio is up 125%.

Your long-term book is up 55%.

I don’t use options, calls, leap, short e.g.

The $SPX has spent most of 2026 trying to figure out what it is. We have not.

WHY I SHOW UP EVERY DAY

1st January I had 1,207 followers. Today we are approaching 23,000.

No subscription. No paid community. No X payout. No product. Just showing up every day and doing the work.

I made a pact with my daughter to show up every single day. To show her what consistency actually builds. Not in theory. In real time, with a number she can watch move.

I have a good job. I don’t need to monetize this. What I need is to show her what happens when you commit to something and don’t quit.

By EOY, I want her to see 50K on that number.

I’m still far from it. I also know how FAST that can change when the content connects and the market moves. So I keep going.

@Sandeman52 is someone I think about here. He built something real without noise.

That’s the benchmark. I’m here for the stocks, the connection, and the game.

Everything else is secondary.

LONG-TERM PORTFOLIO

Eight positions. All structural. Sold $AMPX today with 30% profit. Added to my positions in $KRKNF, $OUST and $ONDS

$RKLB: +83% | 18.51% of port.
$NBIS +142% | 17.09% of port.
$IREN +55% | 13.61% of port.
$AAOI +113% | 12.11% of port.
$OUST +39% | 11.60% of port.
$CIFR +42% | 10.41% of port.
$KRKNF -17% | 9.14% of port.
$ONDS -1% | 7.52% of port.

SHORT-TERM PORTFOLIO:

$PENG +10% | 66.1% of port.
$SIVE +98% | 33.9% of port.

HOW I SEE THE REST OF 2026

Three forces are running the tape:

1. The AI tsunami is still in the first inning.

Only 1% of companies consider themselves mature AI users. Over 92% plan to increase AI investment. McKinsey estimates cumulative US data center spending alone will reach $5 trillion by 2030. That capital is already committed. The infrastructure phase is being priced. The productivity phase hasn’t arrived yet. The application phase is after that.

I don’t see a dot-com bubble. The dot-com companies burned cash on speculation. The companies in this cycle have real revenue, real backlog, and real physical constraints that large capital cannot route around.

2. Political trade has replaced free trade.

This is the structural shift most retail investors are still underweighting.
Real technology, real projects, real contracts. Political decision in Washington and repriced overnight. That is the new operating environment.

Capital allocation now has a new first-order variable: political geography. Which government wants this to succeed? The US-UAE AI Acceleration Partnership, $1.4 trillion committed, sovereign wealth choosing the US as the headquarters of the next industrial era, is the clearest current signal.

Political trade creates volatility in names exposed to the wrong jurisdiction. It creates structural advantage for names embedded in the right one.

3. The economy is shifting from consumption-driven to production-driven.

The post-WWII consumer economy ran for 80 years on demand expansion. What is building now is a production expansion cycle, driven by onshoring, defense spending, AI infrastructure, and energy security.

The companies that build, enable, or supply that production cycle are not being valued for what they are today. They are being valued for what the production economy needs them to be in 2028 and beyond.

That is what this portfolio is built on.

MY POSITIONING FROM HERE

I expect more volatile than consensus expects. Full of buying opportunities for anything with hard assets and contracted revenue. Adding on dips. Not selling on headlines.

The three forces above are not quarterly variables. They are decade-long structural shifts. Volatility between now and December is the mechanism that creates the next entry points or DCA opportunities.

YTD +55% long-term. +125% short-term.

And the cycle has barely started.

-BP

Note: This is not financial advice. I hold positions in all tickers mentioned.

PM looks insane! 🤯

Its only a couple of days since I posted my thesis on $PENG and took a position.

$PENG is smashing +20% in PM 🟢 And Wall Street is about to wake up.

Credit for $PENG goes to @pennycheck. Happy to share the ride with other first movers; @FinnStockinger @michaelsikand @CKCapitalxx

Others:

$AAOI above $200 now. 7% up in PM 🟢
$SIVE showing strength with 13% 🟢
$RKLB taking off with 7% 🟢
$NBIS hammering 4% 🟢
$OUST taking on 5% 🟢

I’m working on a extensive portfolio update. Tag along. Follow. Stay tuned.

Onwards,

-BP

Reminder: This is not financial advice.

Black Panther Capital: Wall Street haven’t figured $PENG role out yet.. when they do, it will explode.

Here’s everything you need to know and why $NVDA $AAOI $MU $SNDK will need to rely on them, at one point:

$PENG provides the *end-to-end architecture* required to make components work as a unified

$PENG up +18% in AH.

I hoped you listened and followed me.

-BP

Not financial advice.

Black Panther Capital: Wall Street haven’t figured $PENG role out yet.. when they do, it will explode.

Here’s everything you need to know and why $NVDA $AAOI $MU $SNDK will need to rely on them, at one point:

$PENG provides the *end-to-end architecture* required to make components work as a unified

Let me remind you of this today:

There’s no bubble.
Stop whining and being a 🐱.
We are going higher when retail 🐱 is out.

$IREN is a $200 stock.
$NBIS is a $400 stock.
$CIFR is a $100 stock.
$AAOI is a $600 stock.
$RKLB is a $500 stock.
$OUST is a $100 stock.
$PENG is a $150 stock.

Stop worrying. Breath. Relax.

Imagine where we are in 2030.

Long term mindset. Don’t let them shake you out.

That’s how strong markets, stay strong.

-BP

Reminder: This is not financial advice.

RT Investing visuals
A breakdown of the photonics value chain and best positioned business:

Layer 1: Materials & wafers
• $GLW
• $AXTI
• $IQE
• $AIXA
• $AMS

Layer 2: Core photonic devices
• $IPGP
• $COHR
• $LITE
• $LASR
• $SIVE

• Layer 3: Components & modules
• $AAOI
• $MTSI
• $FN
• $VIAV
• $LPTH

Layer 4: Systems & equipment
• $ASML
• $BESI
• $ASM
• $LPKF
• $MKS

Layer 5: Test, metrology & yield
• $CAMT
• $FORM
• $AEHR
• $ONTO
• $VIAV

Investing visuals: Photonics stocks are going parabolic:

• $LITE +1621%
• $AAOI +1434%
• $COHR +529%
• $CRDO +377%
• $VIAV +353%
• $FN +281%
• $MTSI +189%
• $MRVL +186%
• $IPGP +136%
• $POET +127%

Wall Street haven’t figured $PENG role out yet.. when they do, it will explode.

Here’s everything you need to know and why $NVDA $AAOI $MU $SNDK will need to rely on them, at one point:

$PENG provides the *end-to-end architecture* required to make components work as a unified system.

They design, build, and manage "AI Factories" such as massive data centers optimized for AI training.

Their portfolio covers:
> Computing
> Memory
> Managed Services

They solve the "Memory Wall" (the bottleneck between the processor and data) by owning memory technology and system integration expertise.

And acts as the integrator layer, the "glue" that assembles raw components into a functioning supercomputer.

Penguin’s uniqueness lies at the intersection of Memory and HPC (High-Performance Computing). Most integrators focus only on the compute (GPUs), but Penguin understands that the "Memory Wall" (the speed gap between the processor and the data storage) is the BIGGEST bottleneck in AI. They are one of the few players that own the memory technology (through their SMART Modular brand) and the system-level integration expertise.

To give you an understanding of their position:

Tier 1: Component Providers (The Raw Materials)

$NVDA provides the Blackwell GPUs that serve as the engines of the factory.

$MU provides High-Bandwidth Memory (HBM), while $MRAM provides persistent memory for reliability.

$SNDK provides high-speed SSDs, and $P provides the all-flash arrays required to feed massive datasets to GPUs without lag.

$AAOI provides the "nervous system" through 800G and 1.6T optical transceivers that move data between GPUs.

$POET and $SIVE provide photonics to replace copper wires with light-speed links.

$LPK provides precision manufacturing for the circuit boards these components inhabit.

Tier 2: The Architect & Integrator (The Brain)

This is the center. Penguin takes the chips $NVDA, memory $MU, storage $P, and networking $AAOI and "weaves" them together.

They perform the "racking, stacking, and testing".

Tier 3: Infrastructure Operators

$NBIS & $IREN. These are the customers. They build the physical power, shells, and the AI cloud.

They rely on Penguin for the technical deployment and managed services to keep fleets running 24/7.

If the AI revolution is a gold mine, $NVDA and $MU are the pickaxes, $P and $AAOI are the conveyors and bins, $IREN and $NBIS are the ‘owners’, and $PENG Solutions is the engineering firm that builds and manages the entire operation.

-BP

NOT FINANCIAL ADVICE.

this market is so f.. strong.

from red to green.

every major AI infrastructure deal in 2026 will look cheap in 2028. I’m not even optimistic. that’s just how this infrastructure cycles end.

$SIVE smashing 6% up.
$NBIS smashing 10% up.
$AAOI smashing 12% up.
$RKLB smashing 5% up.
$AMPX re-gaining 5%.

-BP

Not financial advice.

I did the calculation last week.

Not the sexy version. The boring version.

What does patience actually cost? What does it return?

The typical retail investor makes 3-4 moves per quarter driven by news and price action. Each one has a spread.
Each one has timing risk. Most are emotional.

The patient investor makes one move; entry and holds the thesis.

Here's what patience looks like in the portfolio right now:

$IREN
Entered $19-30 range. Now well above. NVIDIA $3.4B contract signed. $3.1B ARR under contract.

$RKLB
Entered $65-70 range. Now ~$177. Just posted record $200M quarterly revenue.

$NBIS
Entered $80-85 range. Now ~$148. Up 110% YTD. $44B+ backlog.

$AAOI
Entered $88-92 range. Now ~$149. Revenue guided >$1.1B for 2026.

$AMPX
Entered $12-13 range. Even after a 29% drop this week, still far from entry.

$OUST
Entered at $20 range. Even after recent drop and updated analyst PT. Well above.

None of these returns came from trading.

They came from building a thesis, buying in the entry zone, and not moving.

The calculation is simple:

Patience is the edge most retail investors have access to and almost none of them use.

It is not a personality trait. It is a learnable discipline.

-BP

Not financial advice. Do your own due diligence.

My wife's dad from UK is here during the weekend.

He asked me at dinner tonight what I invest in.

I listed them. All nine.

$IREN. $NBIS. $CIFR. $ONDS. $RKLB. $AAOI. $AMPX. $PNG.V. $OUST.

He waited for a name he recognised. Never came.

"None of the big ones?" he said.

I said no.

He looked at me the way people look at someone who ordered something unusual off the menu.

I didn't explain. I used to explain. I stopped.

Because by the time you can explain it at a dinner table, the ENTRY window is usually closed.

$IREN is signing $3.4B AI cloud contracts with NVIDIA.
$RKLB just posted record revenue and backlog.
$NBIS is up 110% year-to-date with $50B+ contracted.
$AAOI is capacity-constrained through mid-2027.

Nobody at that dinner table was talking about any of this.

That is not a criticism of them.

That is the whole point.

-BP

Not financial advice. Do your own research.

I’ll only say this once:

The next 1 to 4 years will determine whether you build generational wealth or spend the rest of your life watching other people live the life you could have had.

NEW infrastructure is being built *right now.*

AI, Robotics, Automations. Its all HERE.

This is not a drill. This is not hype.

This is THE window of a lifetime.

The physical backbone of the next economy; power, compute, orbit, optical networking is being funded, contracted, and locked in right now.

The capital is moving.
The deals are being signed.
The positions are being taken.

The only question is whether your name is on any of them.

You want to know what this moment looks like from the other side?

It looks like 2010 and you didn’t buy $AMZN.
It looks like 2013 and you didn’t buy $TSLA.
It looks like 1995 and you watched the internet happen to other people.

THIS is that moment. Right now. Today.

And it will not wait for you to get comfortable.

So here’s what you need to do.

Wake up. Handle your 9-5.
Run. Lift. Eat clean.
Be present for your kids. Be there for your wife.

Every hour left after that?

>You research<

Not scroll. Not watch. Not casually browse.

You study like your family’s financial future depends on it.

Because it does.

Be obsessive.

Think deeply about it.

Or follow people who think deeply about it.

Study what the world needs to build next, and which companies sit at those bottlenecks.

But don’t sleepwalk through the most important investing window of your generation.

$IREN $NBIS $CIFR $AAOI $RKLB

These are positions in the infrastructure of the next 20 years.

The kind you hold while everyone around you panics.

The kind you look back on in 10 years and can’t believe you had the chance to buy.

Most people will miss this.

Not because the information wasn’t available.

Not because it was too complicated.

Because they didn’t take it seriously enough.

Don’t be that person.

The window is open.

It won’t be open forever.

-BP

Reminder: this is not financial advice.

The $AAOI earnings call transcript yesterday tells you everything you need to know about where this goes.

I expect $AAOI to 3X / +$400 EOY 2027:

> Fourth consecutive quarter of record revenue.

> $151.1M for Q1, up 51% year over year.

> Data center revenue hit $81.4M, up 154%.

> First volume shipment of 800G transceivers to a major hyperscale customer completed in the quarter.

The number that matters most: management raised full-year 2026 revenue guidance to over $1.1 BILLION.

They’re not revenue-constrained. they are CAPACITY-constrained.

The CFO said it directly on the call: “the revenue outlook is limited by production capacity and supply chain, not market demand.”

By end of Q3, new texas manufacturing capacity comes online. that’s when the ramp accelerates. 650,000 units per month of 800G and 1.6T capacity by year-end. Over 930,000 by end of 2027.

There is also an industry shortage of indium phosphide laser capacity building.

$AAOI manufactures its own lasers in-house. That vertical integration becomes a competitive moat the moment the shortage becomes visible to the market.

Q2 guidance: $180M–$198M. sequential growth confirmed for every remaining quarter of 2026.

Rosenblatt maintains their $140 price target.

I’m long. I have been since before this run.

$AAOI thesis is now supported by four consecutive quarters of record execution.

The people who sold this position based on the stock’s volatility are going to have a hard time explaining it in a year.

Save this.

-BP

Note: this is not financial advice.