Sep. 14 at 9:42 PM
$COHR $LITE $APLD $GEV $VST
#AI #AIInfrastructure #DataCenters #SmallCaps
Today looked bigger than a semiconductor selloff.
The physical AI stack got repriced across chips, optics, data centers and power.
My new screen:
current AI revenue
vs. contracted future AI revenue
vs. expected future AI TAM
The third bucket carries the most duration risk.
Important contradiction: current demand is still strong.
$COHR and
$LITE just reported major revenue growth, while
$APLD has long-term take-or-pay leases.
So this is not yet a demand break.
The question is whether investors are starting to charge a higher risk premium for 2028–30 earnings that still require heavy capex and external financing.
Tuesday’s tell: if megacap semis bounce but second-order infrastructure names lag, that factor may be sticking.
https://stockmarkettoday.beehiiv.com/p/the-ai-buildout-just-met-its-first-duration-test
