The opportunity is much bigger than any individual company. The AI data center market is projected to grow from roughly $181B in 2026 to more than $810B by 2033.

Across my holdings, I’m seeing:

• Rapid revenue growth
• Record backlogs and customer commitments
• Accelerating AI demand
• Expanding infrastructure capacity
• Greater visibility into future revenue

Nebius ($NBIS) is the clearest example.

I first bought NBIS at $24. My initial position is now up more than 1,055%.

Its latest earnings only strengthened my conviction. Revenue grew 454% YoY

This is what I look for: a massive market, accelerating fundamentals and a company scaling into the opportunity.

And it wasn’t just AI.

My space, photonics, semiconductor, robotics and defence holdings also had several important developments this week.

I also made some changes:

• Fully sold one position
• Added to two positions

If you’ve been following me for a while and held onto Nebius through all the noise, fear, and volatility, take a moment to appreciate what just happened.

You didn’t just watch a stock go up.

You watched a thesis play out in real time.

I started buying NBIS last year around $24, when very few people were willing to believe in the story. There were plenty of skeptics, plenty of reasons to stay away, and plenty of people telling investors that the risk was simply too high.

Fast forward to today.

Nebius just delivered an absolutely incredible Q2, with $582.3M in revenue, up 454% YoY, while adjusted EBITDA reached $236M. The stock surged more than 30% following the results.

From roughly $24 to above $250.

That’s more than a 10x.

Wrote a new article: Should You Buy Bloom Energy $BE ?

Bullish:

• Q2 revenue $1.065B (+165%)

• Gross margin already above 33%

• Powering $NBIS data centers

Risks:

• Stack life still an open question

• Scandium supply concerns

• Valuation leaves little room for error

Feeling uncomfortable with growth investing is normal. You’re buying companies that are investing heavily and living with high volatility. They are betting on themes that the market still doesn’t believe in. That’s where the upside comes from but it also has high risks.

The Trump administration is drafting a ban on new Chinese optical transceivers, the critical networking components that move data at the speed of light inside AI data centers.

According to sources familiar with the matter reported by Reuters today, the Federal Communications Commission is preparing the measure. The goal is clear: keep Chinese hardware out of U.S. AI infrastructure before it becomes deeply embedded. Officials hope to publish and implement the rule this year.

Optical transceivers convert electrical signals into light (and back) so data can travel across fiber inside the massive GPU clusters powering the AI boom. Chinese suppliers currently hold a large share of that market. A ban would force hyperscalers to source more from non-Chinese makers.

The market reacted immediately....

The last few weeks have been rough for AI stocks. Retail dumped, leveraged accounts liquidated. Narrative flipped from “AI is going to change everything” to serious doubts about whether infrastructure spending will actually pay off. These kinds of shakeouts are normal in every big tech cycle.

The sentiment has turned bearish but spending isn’t slowing down.

While the tape shows fear and rotation out of AI stocks, the actual enterprise AI market continues its relentless climb: $24.0 billion in 2024, $31.5 billion in 2025, and a projected $155.2 billion by 2030 according to Grand View Research. That’s a 5x+ expansion in five years, led by North America.

We are still early. Most enterprises are just moving from chatbots to real agentic systems and private inference. The physical infrastructure buildout, optics, networking silicon, GPU clusters, data center capacity, and the power to run it all — is only accelerating.

Buy high-conviction enablers of the AI stack when temporary fear creates better entry points, size according to conviction, and let the multi-year secular growth compound.

Stock picking will separate the 10x winners from the rest. Not every ticker deserves capital here.

NBIS – Nebius Group

Currently down ~25-30% from its June 2026 all-time high near $287, trading in the $200–216 range as of early July.

Nebius NBIS -5.25%↓ is building full-stack AI infrastructure: large-scale GPU clusters, AI-centric cloud platforms, and developer tools. They operate data centers across the US and Europe and have a strategic alliance with NVIDIA. Recent momentum includes major compute deals that give them real credibility with hyperscalers.

This is not a stock story. It’s a company executing on the exact bottleneck that matters most right now, actual, available AI compute capacity at scale. While some peers are still ramping, Nebius already has meaningful capacity live and signed deals that validate the platform.

- The pullback was driven by temporary noise ( META 1.70%↑ potentially bringing more workloads in-house + broader sector rotation). Fundamentals have not broken.

- Long-term demand for independent AI cloud capacity remains explosive. Hyperscalers and enterprises want diversified, non-captive options.

- Vertical integration (own data centers + software layer) gives them better unit economics and control than pure resellers.

- Management is focused on disciplined expansion rather than reckless growth-at-all-costs.

I’ve built NBIS into my highest-conviction and largest allocation because it sits at the center of the AI infrastructure trade. When the tape gets volatile, I lean into names where I have the highest conviction in both the management team and the structural tailwinds. NBIS checks every box.

Alongside NBIS, I have four other names in my current pullback shopping list that I’m adding to or initiating. Each one solves a different critical bottleneck in the AI infrastructure buildout, from the physical connections inside data centers to the actual power that runs the entire stack.

The last few weeks watching AI infrastructure felt like a slow-motion train wreck. First, there was huge selling, then margin calls, followed by forced liquidations. Leopold Aschenbrenner’s Situational Awareness fund got crushed. By June, it was up 439%, hitting almost $45 billion. Then the fund had to dump most of its publicly traded stock onto the market. Citadel ended up buying a big chunk of it.

Also, over 350,000 Korean retail investors got wiped out on their leveraged AI and semiconductor bets. This is insane! The total losses on those leveraged bets ran into the tens of billions. It was a brutal, public mess.

I’ve been staring at this weekly Bitcoin chart for days.

The same RSI condition that showed up near the 2019 bottom and again near the 2022 bottom just printed for the third time. Price is sitting around 64,650. RSI is hovering near 39 after dipping lower. The structure looks familiar in a way that makes me pay attention.

At the same time, we have fresh institutional capital flowing into the crypto complex, regulatory clarity advancing in Washington, and an emerging structural demand driver that most charts completely ignore: AI agents that need programmable money.

Micron sits at the center of a multi-year memory supercycle. Surging AI demand for high-bandwidth memory (HBM) has forced the industry’s big three producers, Micron, Samsung, and SK Hynix, to reallocate massive wafer capacity away from traditional DRAM and NAND. The result is acute shortages across the broader memory market, even as AI-specific demand continues to compound.

New meaningful supply is still years away. Memory fabrication is extraordinarily capital-intensive and technically complex. Long lead times mean the gap between demand and supply is likely to widen before it narrows.

At the same time, Micron is trading at a forward P/E of roughly 7.4x–8x on earnings that are growing at a pace rarely seen in large-cap tech. Institutional analysts have been scrambling to raise price targets, with the average now sitting in the $1,350–$1,400 zone (some as high as $1,500+), implying 20%+ base-case upside from current levels, and that’s before any further multiple expansion.

[ Removed by Reddit on account of violating the content policy. ]

Hey everyone,

I just published my latest portfolio update where I break down my high-conviction positions heading into the second half of 2026.

The core thesis remains focused on two massive secular trends:

- The AI infrastructure buildout (data centers, power, memory, networking)

- The emerging commercial space economy

In this update I cover:

- Current portfolio allocation and recent changes

- New high-conviction additions

- Key catalysts I’m watching

- Why I’m still comfortable holding through volatility

Here’s the full post:

https://burakfinance.substack.com/p/my-high-conviction-10x-portfolio-3cb

Would love to hear what everyone else is positioned in right now. What are your highest conviction ideas for the rest of 2026?

Appreciate any thoughts or pushback.