Investing visuals

I just published my latest research article: The AI data center bottlenecks map, covering: • The AI supply chain • The key players at critical bottlenecks • Where to look as constraints move down the supply chain I loved diving into this over the past few weeks with the goal of fully understanding the dynamics of the AI data center buildout and (of course) visualize it. I focused particularly on businesses operating at critical bottlenecks such as memory, connectivity, and cooling. It’s the type of research I wish I’d done two years ago to spot winners like $MU and $LITE earlier. But as long as demand remains insatiable, constraints will simply move to other parts of the supply chain, creating great opportunities if you know where to look👇 investingvisuals.io/ai-data-center…

Yeah that’s an interesting point. They used to be a “plain data backup & recovery” business, But over the years, $RBRK has layered on threat analytics, anomaly detection, sensitive data monitoring (DSPM) and identity recovery for Active Directory/Entra ID. So it’s not a $CRWD for example but they aren’t just a back-up company either.

@InvestingVisual Only if you classify it as pure cybersecurity…

$RBRK might be one of the most underappreciated cybersec names right now: • Revenue growth of 46% • 90% win rate vs legacy players • NRR of 120% And a stocks that's down🔻48% from it's peak.

@dimitrisnatsis Just short term price action. If they execute like they’ve done so far, the stock will eventually follow 👌

@InvestingVisual 🙏 bought this $54 and losing already 🤦😅

Presenting you my first deep dive, covering $RBRK: • Founder led • Mission-critical • Growing over 50% • Named 6x data protection leader This is the story of a business that evolved from simple backups to an industry-leading cyber resilience platform. Let’s dive in! (~25 min. read) 🧵👇

@StocksCashFlow Feel the same way. I think most underestimate how mission critical they are to other businesses, especially with the rise of AI agents

@InvestingVisual It is criminally undervalued. I feel like people don't really understand what they do yet and that's the reason.

@dimitrisnatsis Appreciate it Dimitri! Price action really is ugly but as long as the business does great, price will eventually follow.

@InvestingVisual 👍thnx great post , price action still ugly 😅

@ThijsThijsT Hmm not sure which spike you’re referring to. Current SBS as percentage of revenue is 23% compared to 34% a year ago. I expect SBC as percentage of revenue to come down more as they scale over time.

@InvestingVisual I was checking this week, but the recent spike in SBC is enormous and doesnt seem temporary...

Photonics stocks are absolutely blazing past year: • $LITE +872% • $AAOI +424% • $COHR +277% But careful not to FOMO because these come with significant risks as well. Do your own research, build conviction, create a watchlist. Success favors the patient.

$NVDA returns since 2000, ranked from worst to best years: 🔴2002: -83% 🔴2008: -76% 🔴2022: -50% 🔴2018: -31% 🔴2010: -18% 🔴2012: -12% 🔴2011: -10% 🔴2026 -4% (YTD) 🟢2004: 2% 🟢2014: 25% 🟢2013: 31% 🟢2007: 38% 🟢2025: 39% 🟢2000: 40% 🟢2005: 51% 🟢2015: 64% 🟢2019: 76% 🟢2017: 81% 🟢2003: 102% 🟢2006: 108% 🟢2020: 122% 🟢2021: 125% 🟢2009: 132% 🟢2024: 171% 🟢2016: 224% 🟢2023: 239% 🟢2001: 308%

@AskPerplexity Really neat upgrade that fixes something I’ve ran into in the prior version; burning credits to fixs bugs instead of building and shipping new features. Much appreciated!

We just shipped several upgrades to building web apps with Perplexity Computer. New projects are now automatically tested using Playwright. It navigates your app like a real user to identify and fix bugs before you ever see them. Build, test, fix, ship. All in one place.

Copper vs photonics take away from $NVDA's GTC: It's not an either/or situation, you need both. Copper is remains useful for short distances, optics for longer distances and higher speeds. They complement each other in situation where there's short-reach inside the rack but long-reach between racks or clusters. This is bullish for $CRDO, $ALAB and $AAOI, $LITE but it seems the market is treating it as an either/or scenario. The next phase is co-packaged optics (CPO), meaning putting the light-based communication parts right next to the main chip. Enabling data to travel faster, over longer distances and with less energy use.

$DLO reports earnings after the close tomorrow: • Est. revenue $295M (+44%) • Est. EPS $0.17 (+18%) Key metrics to watch: • Total payment volume (TPV) • Take rate • Net revenue retention

@jt_martin Yeah those are really some mind blowing stats. Equally impressive is that they grow like this with less then $5B spend on sales and marketing.

@InvestingVisual Three years ago $NVDA was a $27B revenue company. Now it's $215B. The datacenter business at $194B is larger than the entire company was in revenue just two years back. That kind of growth doesn't happen in chips. Until it does.

$NVDA 2025 recap: • Total revenue: $215B (+65%) • Data center revenue: $194B (+68%) • Net income: $120B (+65%) What a business💎

Revenue growth like we see today is definitely not sustainable over a very long period as the revenue base grows larger and larger. At some point we'll reach a point of saturation. The semi industry is also characterized by booms and busts which is good to be aware of. Right now, we're in the middle of a boom, but at some point CapEx will ease off. It's anyone's guess when that will be, but it'll hit $NVDA as well. But we can still see very strong demand for the years ahead though.

@InvestingVisual Well, I think the revenue of the data centers could be inflated, but I don’t know what would be a sustainable demand from data centers for the time to come. Do you think all current revenue came from data centers is sustainable?

@Instant_Replay7 In what way exactly?

@InvestingVisual It’s a great enterprise, but it could be a value trap for up to almost 90% of the revenue.

@TheWeeklyComp I wonder of we will ever see a business like this again in the foreseeable future. One of its kind so far!

@InvestingVisual Incredible growth! $NVDA is on fire. Excited to see what the future holds.

Definitely. From their press release: “Nebius will use the net proceeds from the offering of the Notes to finance the continuing growth of its business, including expenditures related to the construction and build-out of its data centers, investments to develop its full-stack AI cloud, the expansion of its data center footprint and the procurement of key components (including GPUs), and for general corporate purposes.”

@InvestingVisual Bro, you think they're trying to finance their GPU cluster expansion!

Just in: $NBIS announces a $3.75B convertible senior notes offering in two tranches: - $2.0B due 2031 - $1.75B due 2033 This is their third major convertible notes offering. They previously raised $1 billion in June 2025 and $2.75 billion in September 2025.

@SilverOakFin Infrastructure buildouts are capital intensive and this will help them fund it until free cash flow generation can take over.

@InvestingVisual $NBIS Okay, but WHY ? 🧐

@invest091 Will do man! Appreciate your interest in this, will give you a tag once I’ve shared more on this 🤝

@InvestingVisual Yeah, that’s exactly what I’m finding out. Ha. Do let me know if you do a post or deep dive on this! Data visualization is an underrated skill :)

Over the past month, I’ve been trying out Perplexity Computer, and I’m honestly very impressed with its capabilities. I created a very cool “Investing Visuals tool”, which I’ll share more about soon! Would love to hear some more use cases to try out.