Over $SIVE (-8,46%) the past few days, you can see just how quickly prices can move with such rocket-like gains. I became aware of the company through several posts by our good friend, the Next Limits Wiki operator @ScaleLimits . I find the business model exciting, but after a gain of over 3,000% in just one year (congratulations again to @ScaleLimits for getting in early and, more importantly, for locking in profits), I decided to sit this one out for now. Now, the annual performance has dropped to “just” 1,300% within a few days. If the price reaches €4 or below, it might be worth considering getting back in. We’ll see.

Last week, I decided to reduce the size of some positions in my portfolio in order to invest more in the current AI boom.

This involved 35 $BRK.B (-1,09%) and 350 $SHEL (+1,85%) shares were sold from my portfolio.

The following additions were made:

• $SIVE (-8,46%) 1,500
• $AAOI (-15,94%) 50
• $XFAB (-0,9%) 400
• $SHT B (+8,97%) 750

I didn’t quite time the entries perfectly in some cases, but let’s see what happens over the next few months and in 2027/2028. I’m curious to see how it goes.

In addition, the following stocks are on my shortlist for future purchases:

• $NOKIA (-6,26%)
• 
  $LPK (+0,55%)
• 
  $AXTI (-13,41%)
• 
  $MRVL (-9,13%)

Have a nice evening, everyone!

Probably not. Perhaps a European photonics cluster. When people talk about AI, it’s usually about NVIDIA, data centers, or the next language models. At the same time, something exciting has happened in Europe: In the planned Chips Act 2.0 , photonics has been explicitly named for the first time as a strategic field of the future.

This comes as no surprise. After all, modern AI systems need more than just computing power. Above all, they must process ever-larger amounts of data quickly, reliably, and energy-efficiently. This is precisely where a future infrastructure bottleneck could emerge.

What I find exciting is that (with the exception of X-Fab and Nokia) my own portfolio and, to some extent, the bottleneck wikifolios already include several European companies that together almost form a complete photonics value chain :

🇫🇷 Riber
$ALRIB (-3,79%)

MBE systems for the production of highly specialized III-V semiconductors.

🇫🇷 Soitec
$SOI (-0,89%)

Specialty substrates and wafer technologies as the foundation for photonic integration.

🇩🇪 Aixtron
$AIXA (-4,42%)

Production equipment for InP, GaN, and other photonics applications.

🇳🇱 X-Fab
$XFAB (-0,9%)

European foundry expertise for sensor technology and photonic applications.

🇸🇪 Sivers Semiconductors
$SIVE (-8,46%)

Photonics and high-frequency chips for data transmission.

🇮🇹 Technoprobe
$TPRO (-4,41%)

Probe cards and test solutions for increasingly complex semiconductor structures.

🇫🇮 Nokia
$NOKIA (-6,26%)

Optical networking technologies for the next generation of data transmission. The acquisition of Infinera makes Nokia an increasingly relevant European player in the field of optical networking.

🇮🇹 Prysmian
$PRY (-2,58%)

Fiber-optic infrastructure as the physical backbone of digital data transmission.

Taken individually, some of these companies seem rather unremarkable. Taken together, however, they tell a different story. Not that of a continent that has fallen behind. But rather the story of a potential European photonics ecosystem in the making.

Whether this will actually give rise to global champions, no one knows today. But that is exactly where I look for bottlenecks: one level below the obvious winners. Where new technologies are made possible in the first place.

⚠️ Not investment advice.

#photonics
#wikifolio
#scalelimits
#europa

If you only look at the price trend, you will see a classic high flyer. If you dig a little deeper, you will see something else: a potential possible infrastructure bottleneck that is just beginning to become economically relevant.

For me, the development of $SIVE (-8,46%) well explained by two terms:

🔴 TIP = Technology Inflection Point

A technology inflection point occurs when a technology goes from being an interesting niche solution to a potentially indispensable infrastructure.

This could currently be the case with photonics could happen. AI systems are generating ever larger data streams. At the same time, electrical connections via copper are increasingly reaching their physical limits. Energy consumption, heat and signal losses are increasing.

This is why the industry is investing heavily in optical data transmission. Light instead of electricity. Photonics is therefore increasingly developing from a specialist topic into a potential AI infrastructure bottleneck.

🟢 GDP = business inflection point

The business inflection point often comes later. It occurs when companies suddenly benefit economically from this technological change. also benefit economically.

New orders.

New customers.

New sales potential.

New valuations.

A current example is the example is the collaboration between Sivers Semiconductors and GlobalFoundries that was announced today. This is interesting for me because such partnerships can show that a technology is finding its way out of the development phase and towards industrial scaling.

This is precisely the point at which a reassessment by the market. The market then looks less at the past and more at the question: "How big could this market become if the technology catches on?"

Nevertheless, it remains important that Sivers is still one of the speculative stocks in my exposure spectrum. speculative stocks in my exposure spectrum. The company is not an established infrastructure heavyweight like Coherent. It is much earlier in the cycle. The opportunities are therefore greater.

But so are the risks.

For me, Sivers therefore remains above all a bet that the current technology inflection point will eventually become a sustainable business inflection point.

After all, returns are rarely generated when everyone is convinced. They often arise when a new infrastructure bottleneck is just becoming apparent.

Incidentally, Sivers is also my driving force in the NextLimits wikifolio with a current gain of 822%.

#dibs
#wikifolio
#scalelimits

NextLimits is at +107 %. All 20 positions are currently trading in positive territory 🟢 That makes me happy, of course. But what I find more interesting than the pure performance is the question of where it comes from.

Many of the strongest developments stem from topics that I have been observing for months as future technological bottlenecks:

- Photonics

- Advanced Materials

- Space Infrastructure

- sensor technology

- Directed Energy

Companies like Sivers Semiconductors $SIVE (-8,46%) or Everspin Technologies $MRAM (-9,22%) have performed particularly strongly. At the same time, the current development shows that the performance is not only being driven by individual outliers, but has so far been quite broadly distributed across the entire portfolio.

Interim conclusion: The underlying bottleneck theses currently appear to be confirmed. My thinking model here is DIBS (Dynamic Infrastructure Bottleneck Stack).

Nevertheless risk management as the search for opportunities. That is why I have already realized partial gains twice in Sivers Semiconductors and also made a partial sale in Everspin Technologies in order to limit the position sizes in the portfolio.

NextLimits deliberately focuses on topics where the next technological bottlenecks could arise. Not on what is already common knowledge today, but on the infrastructure, material and technology layers below. TechLimits stands for acute bottlenecks, CoreLimits for stability. All three form my ScaleLimits system.

This is still only just under two months. But so far the wikifolio is developing in exactly the direction I had in mind when I launched it.

#dibs
#wikifolio
#scalelimits