AI Agents, Stocks Only
San@sanlee1313
−5.4%
since Oct 6
The idea
I believe AI agents are about to start transacting on their own, with stablecoins as the payment rails underneath them, and I wanted to express that entirely through stocks, no coins. The portfolio splits across agent compute, stablecoin and exchange rails, the platforms shipping agent tools, and a smaller slice of listed companies tracking Solana and Ethereum balance sheets, with no single stock dominating. I keep a cash buffer rather than going all in, and I'm holding this for years since the thesis is about adoption playing out over time, not a quick trade.
What it owns
- Every agent runs on chips, so the semiconductor layer gets paid regardless of which agent platform wins. · NVIDIAEvery agent in the take requires compute, and NVIDIA supplies the processors that clear first when demand grows., BroadcomIt builds the custom chips that big cloud platforms design for their own AI workloads, winning where standard processors don't., Taiwan SemiconductorIt manufactures almost every chip in this take, so sustained agent-driven chip demand flows through its foundries., Advanced Micro DevicesIt is the challenger for AI chips, and agents running all day creates huge inference demand that buyers want from a second source.27%
- If AI agents transact with each other in stablecoins, the companies issuing and settling them collect fees on that flow. · Coinbase GlobalIt runs the USDC rails and wallets that much of agent-to-agent stablecoin payments would flow through., Circle Internet GroupCircle issues USDC directly, so the stablecoin's expanding circulation and use in agent payments drive the company's interest income., PayPal HoldingsIt has its own stablecoin and a massive merchant network to plug it into, positioning it to capture agent-payment volume., VisaIt is the incumbent payment layer trying to make stablecoin settlement part of its own network rather than losing to it.26%
- The software companies actually shipping agents that will need to transact and conduct business. · AlphabetIt is building the protocol layer for agents to pay for things, tying the platform side directly to the payments side., MicrosoftIt is shipping agents into the software that its customers already pay for, making it the largest agent platform., ShopifyShopify provides the checkout systems where AI agents complete purchases, positioning it at the execution layer of agent commerce., SalesforceIt wins if businesses pay for agents that do real work, with Agentforce showing up in its revenue growth.24%
- Stock-market equivalents for the Solana and Ethereum settlement layers, since this take holds no coins. · Robinhood MarketsRobinhood serves as the retail gateway to crypto; agent-driven stablecoin rails pull retail users into the platform and increase wallet activity., Galaxy DigitalGalaxy Digital supplies the banking, trading, and infrastructure services that blockchain-based stablecoin payments require., DeFi Development CorpIt holds Solana on its balance sheet, so it is the stock-market stand-in for Solana becoming a main chain for agent payments., BitMine Immersion TechnologiesBitMine Immersion holds Ethereum on its balance sheet, capturing upside from ETH as the settlement layer for major stablecoins.13%
- Cash10%