Critical minerals are essential for 21st century defense applications. Revisiting this Pinetree snippet from 2025.

Finally, spent Saturday reading about $HEI, and what Mendelson family has built over the years. It is a serial acquirer of niche aerospace and electronics businesses. It has two primary segments. Flight Support Group (FSG) Electronic Technologies Group (ETG) They operate on decentralized model, and this flywheel has compounded value for decades. Disc: Not invested, DYOD

Here, we go. It was a matter of time.

This is a great take from Tobi.

While stock picking remains at the core of this AI super-cycle but I feel it’s good to remind myself that The halo effect occurs when an overall positive impression of something (or someone) influences your judgment of its specific traits, leading you to overlook or downplay negatives. One good quality creates a “halo” that makes everything seem better.

Fully exited my $TFII.TO at 100% profit to have some cash available for better opportunities. I still like the company so might get back in later, and still the freight recovery has not happened fully plus want to see if there is any big acquisition in the pipeline later this year or next year.

While everyone is buying or trading $SPCX - I am interested in adding to my core positions if I see a sea of red. What are you going to do?

There is a big movement in $CRDO in the last couple of days. Their FY24 revenue : $193M FY25 revenue : $437M FY26 revenue : $1.34B FY27 forecast revenue : > $2.41B (This is conservative - knowing the management) Reliability is their North Star. They are saying AEC is growing as ever but ZF Optics is growing even faster - their core businesses. They are bringing the full spectrum of connectivity products across the entire data center from short copper links all the way to facility-wide optical links. Long $CRDO

$ORCL Q4 2026 earnings: Revenue $19.2B vs Est. $19.1B EPS $2.11 vs Est. $1.97 Operating Income $8.6B vs Est. $8.3B RPOs $638B vs Est. $590B ( 363% YoY) FY28 Guidance Revenue $90B vs Est. $89B EPS $8.05 vs Est. $7.45

This is the part that I am focusing on from $LITE CEO: Scale-up represents copper replacement within racks and clusters. Lumentum expects to start shipping in the second half of 2027 and sees scale-up optical products in the market in the first part of 2028. The company has sized the CPO opportunity at $15 billion (which leadership views as potentially undercalled), with expectations to add greater than $5 billion of incremental revenue through the Greensboro fab.

Between semi analysis report and $LITE CEO at Mizuho Technology Conference 2026 - the day just flew by. Missed multiple things and now catching up.

$INIO (INNIO) got listed on Nasdaq last week. It is the engine room of the AI trade. It is currently trading at roughly $25B market cap. INNIO makes reciprocating natural gas engines under two brands - Jenbacher and Waukesha. They run from 200kW up to 10 MW. INNIO was $GE ‘s distributed power arm until Advent carved it in out 2018; in 2023, the Abu Dhabi Investment Authority took a significant minority stake. For most of its life, INNIO sold engines to microgrids, industrial cogeneration, and gas compression, and then came AI Data centers. Hyperscalers are building their own power plants on-site, next to the building, and turning them on now. INNIO sells exactly the engine that does that. The numbers on this shift are not subtle. Data center equipment order intake went from $27M to $2.28B in 2025. They have 1.5 GW agreement with VoltaGrid, around 300 engines, with delivery locked out to 2028. INNIO isn’t really an equipment company. Services already account for roughly half of revenue, sitting on an installed base of about 44 GW under multi-year parts and maintenance contracts. The equipment orders get the headlines, but the long-term value compounds in the service tail. 2025 revenue was $2.64B, up 22%, with $549M of adjusted EBIDTA, and $141.8M of net income. Q1 2026 revenue grew to $668.6M, but the quarter swung to a $9M net loss v a $35M profit a year ago. The challenge would be to convert the order book into clean margins. It is currently trading at an expensive valuation roughly 21 to 27 times 2025 adjusted EBIDTA. The competitive set is circling - batteries, fuel cells, and SMRs all want to the same on-site power dollar, and reciprocating gas engines are not the only answer. The risk isn’t the demand; it’s the price you pay for it, and whether management can turn the order book into durable margins. The bonus is one of their suppliers revealed that INNIO is tripping their capacity by 2030. I am watching order conversion, and services margins above everything else. Disc: Took a starter position (Not an advice, DYOD)

Amazon announces agreement with Corning to boost US fiber optics manufacturing. $AMZN $GLW

Kneat $KSI.TO to be Acquired by US Private Equity Firm Thoma. It will offer 40% premium.

LibertyStream $LIB.NE has officially secured a long-term Lithium Carbonate offtake deal with a major U.S. industrial customer. Starting 2027, facility-1 will supply 600 tonnes annually, and all sourced from oilfield brine.

India had their biggest innings win today v Afghanistan at Mullanpur in Tests. What a debut for Manav!

$NVTS introduces Isolated Through-Hole Package for SiC, MOSFETs, Enabling Direct-Cooled Thermal Management. It is setting a new benchmark for high-performance discrete power devices. It is developed for 3300V, 2300V, and 1200V SiC MOSFET products. Applications of this packaging breakthrough - Power Conversion Systems, Solid-state transformers, Battery energy storage systems, and renewable energy