−0.1%
since Sep 10
The idea
I don't think one AI lab ends up owning the whole stack, so I'd rather own the neutral layers everyone building on top of AI has to pay: data pipes, observability, and infrastructure that gets used no matter who wins the model race. That's why this version swaps out crypto rails for real-time data plumbing and a neutral GPU cloud that rents compute to any lab rather than betting on one. I spread chip exposure across architectures instead of picking a winner, add identity and payment rails for agent-driven transactions, and keep a slice in cash.
What it owns
- Infrastructure that every AI agent runs on and pays for, regardless of which model company wins. · CloudflareAgent traffic crossing neutral network layers makes this the checkpoint that collects from every lab and model., MongoDBAgent apps need somewhere to store state and memory, and this database works no matter whose model sits on top., DatadogSomeone has to watch agent workloads run, and this gets paid for monitoring whether the model is from any lab or open source., TwilioWhen agents call, text, and email people, this carries the message regardless of which lab built the agent., ElasticAgents are only as good as what they can look up, and this sells the search and retrieval layer to any model that asks.33%
- A bet that AI compute spreads across many chip designs instead of concentrating in one vendor. · Advanced Micro DevicesThe most credible second source for AI compute accelerators, needed to prevent inference from concentrating on one chip vendor., Nebius GroupRents GPUs to anyone who pays instead of betting on one lab, providing the neutral compute layer the take requires., BroadcomBuilds custom AI chips for the big buyers who want alternatives to single-vendor pricing, getting paid for industry diversification., Arm HoldingsCollects a royalty on chips almost everyone ships, so this gets a cut whichever chipmaker or lab wins., QualcommIf inference spreads out of data centers and onto phones and laptops, this sells the chips that run it locally.30%
- Application companies rebuilding their products around agents instead of being displaced by them. · ShopifyBuilding checkout rails for millions of merchants at once so agents can shop and transact through this infrastructure., SnowflakeEnterprises won't hand their data to any one lab, so agents will come to this platform where a lot of data already lives., GitLabThe bet that AI agents writing code makes the platform that reviews, tests, and ships that code more valuable, not less.15%
- When software agents start transacting on their own, someone neutral has to verify who they are and move the money. · OktaSomething neutral has to verify which agent is allowed to do what, and this is the identity checkpoint no lab controls., VisaAgents buying things still need payment rails everyone trusts, and this is the bet that card networks remain the settlement layer.12%
- Cash10%