Dear Community,

Since some time has passed since my last analysis of the “electricity highways” and grid infrastructure, it’s time for a follow-up. In recent posts, we’ve systematically worked our way through the physical chain of the AI boom: From the resource (water) to generation (nuclear/SMR) via geothermal energy, all the way to distribution (HVDC cables).

But reality continues to strike relentlessly in 2026. While the tech giants keep announcing new, gigantic AI models, we’re hitting a concrete wall in the real world. The problem is no longer just transporting electricity over long distances—the problem is that the public power grids are simply full. In many regions, wait times for a high-power grid connection now stretch to several years.

But a big-tech corporation isn’t going to wait seven years for an outlet. The consequence? A radical trend toward “grid bypassing” and self-sufficient microgrids. Data centers are increasingly becoming their own, grid-independent power plants right on site. And this is exactly where, away from the media spotlight, a completely new, explosive growth market is emerging.

The companies I’d like to introduce to you today are growing in the shadow of the AI hype and supply exactly the hardware without which the lights would literally go out in the data center or the chips would melt:

1. Powell Industries ($POWL (-6,42%))

The nervous system for power distribution

While companies like Eaton build gigantic transformers, Powell Industries supplies the custom-made, highly complex switchgear, control systems, and modular “Power Houses” that are essential for safely distributing power in heavy industry and massive AI data centers.

• Business Model & Foundation: Powell designs, builds, and maintains custom-made systems for comprehensive energy management. These systems ensure that the massive, irregular energy flows in industrial and utility facilities are precisely monitored, controlled, and protected against power outages.

• Products & Services: The product range extends from medium- and low-voltage switchgear and integrated control systems to turnkey, modular power plant containers (Power Control Rooms and E-Houses). This is complemented by the high-margin after-sales segment, which includes installation, commissioning, and global field services.

• Markets & Sales: Historically deeply rooted in the traditional industrial sector (oil & gas, petrochemicals, mining, and heavy industry), Powell is now aggressively expanding its business through project engineering and direct sales in the renewable energy and high-tech infrastructure sectors.

• The Growth Driver: When tech companies build their own mini-power plants (microgrids) to become independent of the unstable power grid, each of these projects requires Powell’s customized infrastructure.

• The numbers speak for themselves: Powell is currently experiencing a historic boom. The order books (backlog) are full to bursting, and profits are rising because margins on custom AI infrastructure are extremely high.

• Opportunities & Market Potential: As a specialist in custom-built switching technology, Powell is at the intersection of three megatrends: the construction of self-sufficient data centers, global grid modernization, and the ongoing decarbonization of industry. Through strategic acquisitions in the areas of automation and SCADA systems (intelligent monitoring software), Powell is also transforming itself from a pure hardware supplier into a high-margin systems provider. The massive order backlog secures growth for years to come.

• Risks & Stumbling Blocks: The business model is heavily project-based—phases of investment freezes by tech giants can therefore lead to noticeable order cyclicality. Additionally, margins are sensitive to supply chain bottlenecks or volatile raw material prices (such as copper and steel). Intense competition in the tech infrastructure sector requires constant pressure to innovate. At the operational level, it is also important to keep an eye on weather-related production outages at the main sites as well as the ever-present threat of cyberattacks on control systems.

2. Bloom Energy ($BE (-3,31%))

On-site power generation (behind-the-meter)

Bloom Energy manufactures so-called solid oxide fuel cells. What makes them special is that they generate highly efficient electricity through an electrochemical process—without any combustion. They can be powered by natural gas, biogas, or pure hydrogen.

• Product & Technology: Bloom’s technological flagship is stationary solid oxide fuel cell systems for decentralized power generation. These modules flexibly and highly efficiently convert various energy sources into electricity, are easily scalable in a modular fashion, and are uncompromisingly designed for continuous base-load operation (24/7).

• The Business Model: Revenue is generated through a clever mix: the direct sale of systems and modules combined with predictable, recurring income from Energy-as-a-Service contracts, long-term operations management, and maintenance. The entire project development, from installation to cloud-based energy management software, comes from a single source. Customers include global companies, utilities, and, increasingly, the world’s largest data center operators.

• Market Position & Strategy: In the current market environment, Bloom excels in three key areas: radical emissions reduction, absolute off-grid supply security, and extreme fuel flexibility (the systems currently run on natural gas but are fully compatible with biogas or pure green hydrogen). The foundation for long-term success is the strong synergy between high-margin hardware sales and decades-long service and supply agreements.

• The Growth Driver: Tech giants can no longer wait years for local utilities to lay new power lines to their data centers. Bloom Energy provides the solution for on-site autonomous power. Oracle has announced a massive AI data center in the U.S. state of New Mexico, which is to be powered by a massive 2.45-gigawatt fuel cell microgrid from Bloom Energy. The energy provider AEP has also signed contracts with Bloom for up to 1 gigawatt of capacity.

• Growth potential: After years of being viewed as an unprofitable clean-tech stock, the demand for AI power is now catapulting Bloom Energy into a significantly higher league of commercial growth.

• Opportunities & Market Potential: Bloom’s ace in the hole is its market-leading SOFC technology, which runs on both natural gas and hydrogen and achieves outstanding overall efficiency through combined heat and power (CHP) utilization. This is a magnet for the massive demand from data-intensive data centers and industry. Backed by the recently reported massive improvements in revenue and margins, alongside new electrolyzer initiatives and partnerships with global giants, the company possesses explosive growth potential.

• Risks & Stumbling Blocks: Historically high price volatility and recurring warnings from analysts indicate that market expectations and the stock’s valuation are extremely ambitious. Furthermore, the company’s narrative relies on the successful scaling of production and a steady flow of orders. A high dependence on political subsidies, volatile gas prices, and emerging competition in the decentralized energy solutions sector could at times weigh heavily on earnings and share price performance.

3. Modine Manufacturing ($MOD (-3,58%))

The Underrated Cooling Specialist

Vertiv is often mentioned when it comes to data center cooling. But Modine Manufacturing is the classic turnaround and growth gem that is frequently overlooked. Originally known as an automotive supplier of heat exchangers, the company has undergone a radical transformation and, through its “Modine Data Center” division, now focuses entirely on the thermal management of server farms.

• Core Business & Technology: Modine is a global specialist in highly complex thermal management. The company develops, manufactures, and sells advanced heat exchangers, coolers, heating and air conditioning components, as well as customized cooling solutions for the electronics and process industries.

• The Business Model: Modine serves both original equipment manufacturers (OEMs) and the aftermarket with a mix of high-precision series products and modular system solutions. Its competitive edge lies in the combination of customer-specific development, in-depth engineering services, and global manufacturing and logistics support. Revenues are generated primarily from sales of highly efficient products, long-term service contracts, and joint development projects.

• Value Proposition & Strategy: The core promise in the age of decarbonization is: maximum energy efficiency while simultaneously reducing weight and emissions. Through close technical collaborations, Modine integrates its systems directly into customers’ infrastructure. Strategically, management is radically focused on high-margin growth markets such as modern building technology and thermal management for data centers.

• The Growth Driver: Modine builds highly efficient air and liquid cooling systems. Since the new AI chips (such as Nvidia’s Blackwell architecture) can no longer be managed with air cooling alone, the market for liquid cooling is a sure bet for growth.

• The niche: While Vertiv dominates the very large standard hyperscale contracts, Modine secures extremely high-margin contracts in the colocation market (data centers leased by third parties) and in custom industrial cooling systems.

• Opportunities & Market Potential: With an extremely broad product portfolio in data center cooling and innovative heat exchange solutions, Modine is bridging the gap to the absolute megatrend in tech infrastructure. Through targeted acquisitions and aggressive capacity expansions in the field of liquid cooling, the company is positioning itself as a key international player to tap into the exploding demand for energy-efficient cooling systems.

• Risks & Challenges: On the downside, there is a historically high concentration of customers and the classic cyclical nature of the automotive and industrial sectors. The rapid capacity expansions carry certain execution risks. In addition, volatile raw material costs, supply chain bottlenecks, and regulatory hurdles—such as the global technological shift toward new, more environmentally friendly refrigerants—could weigh on operating margins and cash flow in the short term.

4. Hammond Power Solutions ($HPS.A (+0%))

The unsung hero of bottleneck solutions

When data centers are built, electricity is the absolute bottleneck. Hammond is a Canadian specialist in dry-type transformers and power quality systems. Without these devices, electricity from the grid or on-site generators cannot be made usable for sensitive AI servers.

• Business Model & Technology: Hammond focuses on the development and manufacture of heavy-duty dry-type transformers. Unlike oil-filled transformers, these are low-maintenance, fire-safe, and ideally suited for direct installation in or on critical building structures.

• The Data Center Factor: Data centers require customized, extremely reliable voltage conversion. Hammond reported a jump in its order backlog in Q1 of +94.6% compared to the previous year—driven almost exclusively by global data center projects.

• Financial Strength: In Q1, revenue jumped 31.5% to a new record high. Adjusted earnings per share (EPS) rose by just under 30% to CAD 2.08. The company is growing highly profitably and investing heavily in capacity expansions (including in Mexico) to keep up with demand.

• Opportunities & Market Potential: Thanks to the global boom in the construction of self-sufficient energy networks (microgrids) and the sheer volume of data center tenders, Hammond enjoys excellent pricing power. Since transformers have long lead times, the enormous order backlog secures capacity utilization and profitability well beyond the current year.

• Risks & Challenges: The company is heavily dependent on raw material prices for copper and electrical steel. Should the global expansion of data centers temporarily slow down due to macroeconomic shocks, this would dampen cyclical demand. Additionally, there is a logistical risk due to the high concentration of expanded manufacturing capacity in Mexico.

5. Sterling Infrastructure ($STRL (-4,12%))

From Foundations to Turnkey Tech Infrastructure

Over the past two years, Sterling has successfully transformed itself from a traditional civil engineering and road construction firm into a sought-after specialist in infrastructure for tech giants. Its "E-Infrastructure Solutions" segment now accounts for over 60% of its business.

• Core Business & Foundation: Sterling operates as a diversified infrastructure and construction group. Its traditional foundation includes challenging civil engineering and transportation projects, bridge, airport, and road construction, as well as complex water and drainage systems. This is complemented by turnkey system solutions for commercial and residential construction.

• Growth Focus & Transformation: The company is radically steering its portfolio toward the future: The clear focus is on the E-Infrastructure segment (specifically optimized for mega data centers and industrial high-tech utilities) as well as specialized technical services. Through targeted, strategic acquisitions, Sterling is making a strategic push into high-margin and extremely high-growth markets.

• Business Model Logic: The financial strategy is cleverly designed: Sterling uses the stable, cash-generating revenues from traditional transportation and infrastructure contracts as an internal engine to finance expansion into rapidly growing tech segments. Through decentralized, highly efficient operational units, the Group combines rapid scaling and rising margins with a well-stocked, recurring project pipeline.

• The Data Center Factor: Sterling handles the entire development, the foundation (civil construction), and—through the key acquisition of the CEC Facilities Group—the highly complex electrical and mechanical equipment of modern hyperscale data centers.

• Financial strength: The E-Infrastructure segment recently reported a 123% year-over-year increase in revenue. With a signed backlog of approximately $3 billion and total project visibility of nearly $4.5 billion, Sterling has an exceptionally strong foundation for further growth. Particularly impressive are the segment’s operating margins, which remain stable at around 25%.

• Opportunities & Market Potential: The radical focus on the E-Infrastructure segment is proving to be a massive growth catalyst. Sterling is not only riding the data center wave here but is also benefiting directly from the global trend of industrial onshoring (the reshoring of production). The unstoppable growth in the order backlog and extremely targeted acquisitions are cementing an excellent market position. The sharply rising margins and rock-solid cash generation provide management with maximum financial flexibility for further organic growth and strategic acquisitions.

• Risks & Stumbling Blocks: Where there is a lot of construction, risks also lurk: Complex large-scale projects always entail unforeseeable execution and cost risks that can weigh on margins. Furthermore, due to its remaining traditional business segments, the company remains vulnerable to the cyclical nature of the construction and housing markets. Fierce competition in tenders, potential integration issues following acquisitions, and an inherent dependence on government subsidies and private investment programs require investors to remain vigilant.

6. Preformed Line Products ($PLPC (-5,23%))

The physical connection to the rest of the world

An extremely solid, often overlooked industrial company that supplies the physical connectivity components for energy and communications networks. They manufacture cable clamps, splice enclosures, and protective fittings.

• Business Model & Infrastructure: PLP manufactures indispensable niche products: high-strength mounts, damping systems, and splice closures that protect cable networks from mechanical stress, storms, and wear and tear. They ensure that the physical connection of data and power lines remains stable.

• The Data Center Factor: Every data center requires massive amounts of external fiber-optic and power connections. PLP provides the critical infrastructure to connect these networks to data centers and new, decentralized energy sources in a storm-proof, secure, and high-performance manner.

• Financial Strength: In the recently reported Q1, revenue rose by 19% to $176.3 million. The U.S. business even grew by 26%—driven by the expansion of energy and communications networks. With earnings per share of $2.14, PLP impressively demonstrates how profitable the often-overlooked infrastructure suppliers can be as they benefit from the investment cycle surrounding electrification, grid expansion, and data centers.

• Opportunities & Market Potential: Since global grid expansion and the construction of private microgrids must be aggressively pursued, demand for PLP’s fasteners is significantly less sensitive to economic cycles than that of many traditional industrial companies. The company’s extremely strong market position among energy utilities and telecommunications giants ensures reliable and highly profitable cash flows in the long term.

• Risks & Challenges: PLP is also heavily dependent on material costs for aluminum, steel, and plastics. Furthermore, the company operates in a highly fragmented market, which means that local fluctuations in demand within the telecommunications sector (e.g., delays in fiber-optic expansion) can slow short-term growth in individual quarters.

My personal favorites

If I had to pick two stocks from this list today, they would definitely be Sterling Infrastructure and Powell Industries.

Sterling Infrastructure ($STRL (-4,12%)) appeals to me because the company has already successfully completed its transformation from a traditional infrastructure service provider to a beneficiary of the hyperscaler and data center boom. The E-Infrastructuresegment is now the most important growth driver and combines solid growth rates with remarkably strong margins for this sector. I find it particularly attractive that Sterling isn’t reliant on the success of a single AI company—they earn their revenue from the physical infrastructure that is needed regardless of who emerges as the winner of the AI revolution.

Powell Industries ($POWL (-6,42%)) is, in my view, an absolute key player in the entire AI infrastructure complex, one that often receives too little attention for its critical role amid the big headlines. While investors primarily discuss Nvidia, Broadcom, or power generators, Powell supplies the critical switchgear and medium-voltage infrastructure without which not a single new plant can be safely connected to the grid. The order books are full to bursting, and the increasing bottlenecks in the power grid point to sustained high demand in the long term. For me, Powell is therefore a classic “pick-and-shovel” stock: unspectacular at first glance, but indispensable for electrification.

Both companies are benefiting from the same megatrend—the explosive demand for power and data center infrastructure. While Sterling shines as a reliable partner in the large-scale project development of hyperscalers, Powell impresses with enormous pricing power in a critical niche market. It is precisely this combination that makes both stocks particularly exciting to me right now.

Brief strategic conclusion: The scaling of AI in 2026 will not fail due to a lack of will on the part of Big Tech, but rather due to the physical limits of our infrastructure (we discuss this throughout here). Whoever disconnects from the ailing public grid will win the race for computing power. The second- and third-tier gems are right at the source of capital here, as the hyperscalers are willing to pay any price for rapid availability.

I’m now interested in your assessment of this dynamic: Does the trend toward self-sufficient infrastructure currently make these classic industrial gems the actually “safer” growth bets than the extremely highly valued software and AI model providers, and where do you see the greatest cluster risk with these stocks? Is it more likely to be the volatile commodity prices for copper and steel that could put pressure on margins, or do you see the greater danger in Big Tech immediately freezing its multi-billion-dollar project pipelines in the event of an economic slowdown?

Best regards ✌🏼

Anderlé

My post yesterday was about HBM/memory and the question of why the bottleneck in AI is no longer just the GPUs themselves. While many are still looking at compute, the pressure has long since shifted further into the infrastructure. Because HBM is not the only acute bottleneck.

In parallel, topics such as power & cooling, advanced packaging and energy/grid are also becoming more critical. Today it's all about Power & Cooling.

The background is actually simple: modern AI systems require more and more more and more energy in ever smaller spaces. As a result, power density, heat generation and power requirements are increasing massively. Data centers are therefore not only reaching the limits of chips or memory, but also increasingly in the operation of the systems themselves.

This is where the companies that I currently find exciting are based.

For me, these are $VICR (-7,66%) (Vicor) and $MPWR (+0,09%) (Monolithic Power Systems) are interesting examples on the powerside. With cooling and infrastructure, I mainly look at $VRT (-1,78%) (Vertiv), $MOD (-3,58%) (Modine Manufacturing) and $POWL (-6,42%) (Powell Industries).

The exciting thing is that the bottleneck is no longer just in the technology itself, but in the ability to supply these systems with stable energy and make them thermally controllable. to supply these systems with stable energy and make them thermally controllable.

And even this shift is unlikely to be the end. After that, other parts of the infrastructure will probably come under greater pressure. That's why I don't see bottlenecks as static, but as a dynamic movement along the technology stack.

#wikifolio
#scalelimits

I had a little browse through my Investing. There was a screening there.

The focus of this screen was on dynamics rather than absolute values. High margins are nice, but are often already priced in. More exciting are companies whose profitability still has room for improvement - and are making use of this room.

The most important criteria:

• Small-cap size (approx. USD 300 million to USD 10 billion market capitalization)
• EBIT margin ≥ 5%, with positive EBIT margin momentum over three years at the same time
• Average EBIT margin of the last five years below 10% to exclude maturity phases
• ROIC currently ≥ 8%, with positive ROIC CAGR
• ROIC above the cost of capital (WACC)
• EBIT forecast CAGR ≥ 12% and sales forecast CAGR ≥ 8%
• At least 20% analyst potential

$LMB (-0,22%) From project business to scalable platform

Limbach Holdings (NASDAQ:LMB) is a good example of how a previously fragmented service model can be professionalized step by step. The company is active in the building technology sector - a market that has long been characterized by low margins.

This is precisely where Limbach has made a start in recent years. The EBIT margin currently stands at 8%, after a five-year average of less than 5%. The momentum is remarkable: the EBIT margin grew at a CAGR of around 40% over three years, while ROIC climbed to 16%. This means that the company earns significantly more than its capital costs.

The outlook for the future also remains constructive. Analysts are forecasting EBIT growth of just under 20% per year, while sales are expected to grow at a CAGR of around 16%. Despite this development, the share is trading well below its 52-week high; analysts see potential upside of around 47%.

Limbach is not a high-flyer, but a typical "improver": less spectacular, but increasingly efficient.

$MOD (-3,58%) : Industrial know-how meets structural tailwind

Modine Manufacturing (NYSE:MOD) has repositioned itself in recent years. A traditional industrial company has increasingly become a provider of thermal management solutions - an area that is benefiting from data centers, electrification and efficiency requirements.

The figures reflect this change. The EBIT margin is now 11.6%, more than double the long-term average. The margin development is no coincidence: the EBIT margin grew at a CAGR of over 38% over three years, while ROIC is at 15.6% and continues to rise.

The outlook is particularly interesting. Analysts expect EBIT growth of over 24% per year and sales growth of around 17% CAGR. At the same time, the WACC is a good 10%, below the return on capital employed.

The market has already partially rewarded this development, but analysts still see upside potential of over 32%. Modine is therefore a classic case of structural change that is not yet fully reflected in the share price.

$$CVLT (-0,67%) : Software small cap with a new focus on efficiency

CommVault Systems (NASDAQ:CVLT) operates at the interface between industry and software. The company offers data management and backup solutions for hybrid IT infrastructures - a market with high inertia and stable customer relationships.

For a long time, CommVault was profitable but not very dynamic. The picture is beginning to change. The EBIT margin is currently 8.2%, well above the historical average. Even more important is the development of the return on investment: ROIC is 11%, with a ROIC CAGR of over 36% in the last three years.

The outlook is unusually strong for a software stock of this size. Analysts expect EBIT growth of over 48% per year, with solid sales momentum. Despite these forecasts, the share is trading well below previous valuation levels, with analyst potential of just under 50%.

$CVLT (-0,67%) is not a momentum play. It is an example of how operational discipline and efficient use of capital can generate new fantasy in a mature market.

Perhaps this will be of interest to some of you.

Today I wanted to give you my outlook for next year. Many in the community are already busy buying shares, and there are always exciting sectors (currently pharmaceuticals and some commodities). As far as the tech sector is concerned, however, I think you should be careful about buying too early. With a look at my watchlist, I have created an overview that shows that 2026 is likely to be a weak year in the tech sector (and also in crypto). Apart from the fact that midterm years tend to be weak anyway. The companies on my watchlist are almost all behaving similarly. In the course of the bull market, new highs have always been reached in purely technical terms, while the RSI levels are already showing weakness. Some of the stocks are already starting to fall below the RSI average. My current desired scenario would be to strike exactly where it matters, and that is the 200 week average. The drawdown for the stocks mentioned, for example, is somewhere between -40% and -70% of the 200-week average. If this scenario materializes, then I think there will be lifetime entries at the 200 week in fundamentally good companies (as well as crypto) next year.

For your own portfolio, this means lower risk and higher cash. Whether you have to short is another story, I don't know much about that 😁

Investors who trade according to "time in the market beats timing the market" should not be interested in this. But for those who regularly work with cash ratios, I think it does.

How do you see the situation next year? Will you even go along with it or do you see it completely differently?

$PLTR (-0,73%)
$TFBANK (-0,71%)
$APP (-4,62%)
$AXON (+0,03%)
$PNG (+1,22%)
$CORT (+0,26%)
$VRT (-1,78%)
$IESC (-3,95%)
$MOD (-3,58%)
$ORCL (-0,74%)
$HIMS (-2,05%)

Hello dear Getquin Community,

This year's IAA Mobility in Munich showed that the automotive industry is on the verge of a turning point. With over 30 percent more exhibitors than in 2023 and numerous premieres from Audi, $BMW (+0,28%) BMW, $MBG (+0,22%) Mercedes, $VOW3 (+0,39%) VW, Opel and Chinese challengers such as BYD and $1211 (+0,57%) BYD and $9868 (-0,67%) XPeng, it became clear that electromobility has now become the standard. However, behind these new platforms and concepts lies an even bigger topic, namely autonomous driving and the robotaxis of the future.

In order to present this field in a clear and transparent way for investors, I have broken down the entire value chain into individual sectors. These include automotive and suppliers, semiconductors and technology, communication and infrastructure, software and algorithms, logistics and transportation, insurance and finance, energy and infrastructure, battery and propulsion, maps and mapping, and safety and cybersecurity. Within each sector, I have analyzed the big players, the hidden champions and the blade manufacturers and highlighted my favorites in each case with a brief explanation. @Multibagger 😎

My aim was to develop as comprehensive a picture as possible that shows where the opportunities lie in this new industry and how investors can position themselves at an early stage. Perhaps the IAA 2025 was not just a car show, but actually the starting signal for the next big investment ecosystem around robotaxis and autonomous driving. If I have overlooked any important aspects or if a categorization was not quite precise, I look forward to your comments @BamBamInvest
@Epi
😎 and exciting additions @All-in-or-nothing 😎 Together we can understand this topic even better and learn from each other. @Tenbagger2024 😎

Feel free to leave a 👍. I wish you every success with your investments 🚀

🚘 Automotive & suppliers

Big player:

$TSLA (-0,63%) Tesla - pioneer in autopilot/FSD, vertical integration, huge database

$MBG (+0,22%) Mercedes-Benz Group - EQS/EQE with Level 3 approval in Germany, strong regulatory expertise

$BMW (+0,28%) BMW - New class platform, e-models with prepared sensor technology & level 3 approaches

$VOW (-0,39%) VW Volkswagen - Cariad software unit, massive push towards ADAS/AV

$7203 (-0,41%) Toyota (Japan) - largest OEM, cooperation with Pony.ai and Denso

$GOOGL (-0,4%) Alphabet Waymo (private/Alphabet $GOOGL) - robotaxi pioneer in the USA

$9888 (+0,05%) Baidu Apollo (9888.HK) - Robotaxi & Full-Stack AV in China

$Pony.ai (private, China) - Robotaxi & partnerships with Toyota

👉 Favorite: Alphabet Waymo ($GOOGL (-0,4%))

Moat through years of data collection in real operation, deep AI integration, financially secured by Alphabet. Compounder potential, as Waymo can scale as a platform.

Hidden champions:

$APTV (-0,25%) Aptiv - supplier for ADAS, sensor fusion, E/E architectures

$MG (-0,22%) Magna International - produces complete vehicle systems including autonomous components

$ZF Friedrichshafen (private) - German giant in steering and braking systems for AVs

Veoneer (private, formerly listed) - safety software, vision, sensor technology

$SHA0 (-2,8%) Schaeffler AG (DE, Germany, Xetra) - global supplier of drive, chassis and intelligent steering systems. Important for e-mobility and redundancy solutions in autonomous driving.

👉 Favorite: Aptiv ($APTV (-0,25%)
)

High barriers to entry through system integration, broad customer base (OEM-agnostic), strong cash flow and close partner of major car manufacturers.

Blade manufacturer:

$NVDA (-1,23%) Nvidia - Drive Orin / Thor chips for OEMs, standard in the AV sector

$QCOM (-1,04%) Qualcomm - Snapdragon Ride platform for AVs

$INTC (-5,2%) Intel Mobileye - EyeQ chips, one of the market leaders in ADAS

$LAZR Luminar Technologies - Lidar, partnerships with Volvo, Mercedes, SAIC

$OUST Ouster, Inc. - Lidar solutions

$INVZ Innoviz (INVZ) - Lidar sensor technology, cooperation with VW & BMW

👉 Favorite: Nvidia ($NVDA (-1,23%)
)

Dominance in high-performance AI chips, ecosystem with software (CUDA, DriveSim), network effects through partnerships with almost all OEMs. Classic compounder, enormous moat due to technology and developer lock-in.

Takeaway:

In the automotive & supplier sector, it's not just who sells the most cars, but who has mastered the best technology stack for autonomy. OEMs work closely with specialized suppliers and blade manufacturers. Investors should focus less on unit numbers and more on data basis, software expertise and partnerships. The real levers often lie with suppliers and technology enablers, not just the traditional car brands.

💻 Semiconductors & technology

Big players:

$NVDA (-1,23%) Nvidia - GPUs & AV chips (Drive Orin, Drive Thor), software ecosystem

$QCOM (-1,04%) Qualcomm - Snapdragon Ride platform, automotive pipeline >30 billion USD

$INTC (-5,2%) Intel / Mobileye - EyeQ chips, ADAS market leader

$AMD (-4,22%) AMD - GPU/CPU, entry into automotive AI compute

👉 Favorite: Nvidia ($NVDA (-1,23%)
) Unique position: Technological moat through CUDA ecosystem, enabler of almost all AV developments, quasi-monopoly in high-end compute. Classic compounder with long-term growth leverage.

Hidden champions:

$LAZR Luminar Technologies - Lidar supplier, partnerships (Volvo, Mercedes, SAIC)

$INVZ Innoviz Tech. - Lidar, BMW & VW as customers

$KOTMY Koito Manufacturing - world market leader in automotive lighting, entry into lidar through Cepton integration, important role as supplier for OEMs

$AMBA (-2,15%) Ambarella (AMBA) - camera chips & vision processors for AV

$STMPA (-2%) STMicroelectronics (France/Italy, Euronext) - automotive microcontrollers, sensors, power electronics. European counterpart to Infineon.

$AIXA (-2,92%) Aixtron (Germany, Xetra) - supplies manufacturing equipment for SiC and GaN semiconductors, indispensable for power electronics in EV/AV.

$ELG (-5,03%) Elmos Semiconductor (Germany, Xetra) - niche player for mixed-signal semiconductors in automotive, e.g. for radar and driver assistance.

👉 Favorite: Luminar ($LAZR
) Clear technical USP, strategic OEM deals in series production, high barriers to entry in lidar technology. Scalable compounder in a niche market.

Blade manufacturer:

$TSM (-1,66%) Taiwan Semiconductor - production of all relevant automotive chips

$ASML (-4,1%) ASML Holding - Lithography monopolist, without ASML no AI/AV chips

$EQIX (-0,39%) Equinix - data center colocation for AI training & simulations

$DLR (-0,15%) Digital Realty - cloud and data infrastructure

$AMZN (-1,61%) Amazon AWS - Cloud resources for AI training, simulation & OTA updates

👉 Favorite: ASML ($ASML (-4,1%)
) Monopoly on EUV lithography, no advanced chips for autonomous driving without ASML. Moat through technology and patents, classic compounder.

Takeaway:

Semiconductors & technology are the foundation of autonomous driving. While Nvidia plays the central role with computing power, lidar specialists such as Luminar ensure perception. The real shovelware winner, however, is ASML, without whose machines there would be no AV chips. Investors will find the deepest technological moats in the entire value chain here.

📡 Communication & infrastructure

Big players:

$ERIC B (+0,21%) Ericsson - 5G/6G networks, vehicle-to-everything (V2X) applications, global player

$NOK (-3,72%) Nokia - 5G/Edge solutions for automotive & smart cities

$QCOM (-1,04%) Qualcomm - Snapdragon Digital Chassis, V2X chipsets, automotive pipeline

Huawei (private, China) - strong player in 5G/AV communication, partnerships in Asia

👉 Favorite: Qualcomm ($QCOM (-1,04%)
) Wide moat through IP in mobile communications, at the same time deep automotive integration via Snapdragon Ride & Digital Chassis. Compounder, as economies of scale in chips + licenses worldwide.

Hidden champions:

$Cohda Wireless (private, Australia) - pioneer for V2X communication, software solutions for OEMs

$Autotalks (private, Israel, acquisition by Qualcomm planned) - leader in dedicated V2X chips

Commsignia (private, Hungary) - V2X middleware & roadside units

👉 Favorite: Autotalks (private, Israel)

Technology leader in dedicated V2X chips, unique IP portfolio. Strong takeover candidate (Qualcomm already active), giving moat + exit potential.

Shovel manufacturer:

$CSCO (-0,03%) Cisco Systems - network infrastructure for automotive, cloud & edge

$AMT (+1,16%) American Tower - cell towers & infrastructure, benefits from 5G expansion

$CCI (+0,63%) Crown Castle - radio tower and fiber optic infrastructure (mainly USA)

$EQIX (-0,39%) Equinix - data centers, basis for edge computing and OTA updates

$DLR (-0,15%) Digital Realty - colocation & data center capacity for simulations and AV data

👉 Favorite: Equinix ($EQIX (-0,39%)
)

Global leader in data center colocation, benefits from the edge computing trend. Strong moat due to network effects & high switching costs. Long-term compounder.

Takeaway:

Communication & infrastructure are the silent cornerstones of autonomous driving. Without low-latency networks, edge data centers and V2X communication, no AV can drive safely. While Qualcomm forms the technological bridge between chip and infrastructure, hidden champions such as Autotalks secure niche leadership. On the blade side, Equinix remains unbeatable, as every OEM & service provider needs computing power at the edge.

🤖 Software, platforms & algorithms

Big Player:

$GOOGL (-0,4%) Alphabet / Waymo - Robotaxi pioneer, full-stack AV software, years of database

$TSLA (-0,63%) Tesla - FSD, Dojo supercomputer, vertical integration incl. fleet

$9888 (+0,05%) Baidu Apollo (HK) - largest robotaxi network in China, full-stack solution

$UBER (+0,66%) Uber - AV platform in partnership (e.g. with Momenta), scaling via existing user base

👉 Favorite: Alphabet / Waymo ($GOOGL (-0,4%)
)

Unbeatable moat due to millions of real driving kilometers + simulations, strong financial base via Alphabet, focus on platform scaling (robotaxi, licensing model). Compounder with global expansion potential.

Hidden champions:

$Momenta (private, China) - L4 software for OEMs, partner of Mercedes, Toyota

$AUR (-1,08%) Aurora Innovation - software + sensor technology for truck autonomy, partner PACCAR, Volvo

$Argo AI (private, USA) - formerly Ford/VW, now partly continued through partner projects

$Oxbotica (private, UK) - modular AV software, focus on industrial & logistics applications

👉 Favorite: Aurora Innovation ($AUR (-1,08%)
)

Clear focus on trucking (biggest lever in the AV market), long-term OEM partnerships, strong moat due to specialization in long-haul autonomy. Still young, but strong compounder potential.

Shovel manufacturer:

$PLTR (-0,73%) Palantir - data management, simulation & AI analysis for AV training

$SNOW (-0,61%) Snowflake - Cloud data platform, relevant for AV data streams

$MSFT (-0,14%) Microsoft Azure - cloud & simulation platform for OEMs

$AMZN (-1,61%) AWS - largest provider for AI training & simulations in the AV sector

$ADBE (+1,66%) Adobe - Simulation & Digital Twin Tools (via partnerships)

👉 Favorite: Palantir ($PLTR (-0,73%)
)

Deep integration in data pipelines, modular platform for simulation & decision logic. Moat due to lock-in effects with major customers, strong compounder with AI scaling.

Takeaway:

Software and algorithms are the real key to autonomous driving. Vehicles are becoming "data centers on wheels" and only the companies with data, simulation and AI stacks can dominate the market in the long term. Waymo provides the scalable robotaxi ecosystem, Aurora scores with its trucking focus, and Palantir ensures that data streams remain manageable. This is where the biggest margins are generated, not in the sale of hardware.

🚚 Logistics & transportation

Big player:

$AUR (-1,08%) Aurora Innovation - focus on autonomous trucks, partnerships with Volvo & PACCAR

$TuSimple (private, USA) - pioneer for autonomous trucks, strong in the USA and China, currently undergoing restructuring

$AMZN (-1,61%) Amazon / Zoox - Robotaxi & autonomous delivery services, integration into e-commerce and Prime

$FDX (+0,13%) FedEx - test programs for autonomous delivery (cooperations with Aurora, Nuro, among others)

$DHL (+0,02%) Deutsche Post DHL - pilot projects with autonomous delivery vehicles & drones

👉 Favorite: Amazon / Zoox ($AMZN (-1,61%)
)

Moat through e-commerce ecosystem, integration of AV in the last mile, strong financial power and scalability. Compounder due to synergies between logistics and technology.

Hidden champions:

$Nuro (private, USA) - autonomous delivery vehicles specifically for the last mile

$Einride (private, Sweden) - electric autonomous trucks, focus on freight & sustainability

$Gatik (private, Canada/USA) - AV for medium distances (B2B supply chains, e.g. Walmart)

$Starship Technologies (private, Estonia/USA) - autonomous delivery robots for urban logistics

👉 Favorite: Gatik (private, Canada/USA)

Clear business model: "middle-mile" logistics, profitable niche market with predictable routes. Moat through early commercial contracts (Walmart). Compounder potential through scaling in the B2B sector.

Shovel manufacturer:

$CAT (-1,62%) Caterpillar - autonomous technologies for construction machinery & mining, know-how transferable

$DE (+1,11%) Deere & Co - autonomous agricultural machinery, similar technology stacks as for trucks

$ISRG (+0,6%) Intuitive Surgical - example of high-end automation (here as a cross-reference for AV tech transfer)

$UPS (+0,45%) United Parcel Service - logistics infrastructure, partner for AV integration

$R (-0,8%) Ryder System - fleet management, leasing and AV test integration

👉 Favorite: Deere & Co ($DE (+1,11%)
)

Autonomy already in use (precision farming), moat through data & technology in the agricultural sector. Compounder quality, as know-how in navigation & autonomy is transferable to transportation/logistics.

Takeaway:

Logistics is one of the first markets where autonomous driving brings real profitability. Trucks and delivery services benefit from 24/7 operation without drivers, while the last mile (Nuro, Gatik) opens up new business models. Amazon is the most powerful player through vertical integration, while hidden champions like Gatik occupy targeted profitable niche markets. Shovel manufacturers such as Deere supply the already proven autonomy stacks.

🏦 Insurance & finance

Major players:

$ALV (-0,06%) Allianz - the world's largest insurer, involved in AV pilot projects at an early stage

$MUV2 (+1,94%) Munich Re - reinsurance, develops models for AV risk transfer

$CS (-1,24%) Axa - active in AV insurance testing & research

$BRK.B (+0,98%) Berkshire Hathaway - large presence in the US motor insurance market via Geico

👉 Favorite: Munich Re ($MUV2 (+1,94%)
)

Moat through global reinsurance strength, pioneer in new risk models for AVs. Compounder characteristics through diversification and ability to insure new markets (cyber, AV, climate) at an early stage.

Hidden champions:

$LMND (-1,87%) Lemonade - digital insurance, AI-driven, quickly adaptable for AV policies

$Root Insurance (private/USA, formerly listed) - data-driven car insurance, use of driving data

$Next Insurance (private, USA) - platform approach, simple onboarding for new risks

$Wefox (private, Germany) - digital platform for insurance brokerage, flexible for new products

👉 Favorite: Lemonade ($LMND (-1,87%)
)

Pure digital insurer with AI-driven underwriting. Moat through data and automation approach. Still small, but compounder potential as scalable platform can be used in new markets such as AV policies.

Shovel manufacturer:

$SREN (+2,38%) Swiss Re - global reinsurer, benefits from increasing AV risk volume

$VRSK Verisk Analytics - data & risk analytics for insurers, AV risk models

$GWRE (-0,72%) Guidewire Software - software solutions for insurance companies, customization for AV policies

$FICO (+1,55%) Fair Isaac - Analytics & risk modeling, increasingly relevant for complex AV data

👉 Favorite: Verisk Analytics ($VRSK
)

Moat through exclusive data pools & analytics. Enabler for almost all insurers. Compounder character, as growing demand for data & models in new markets such as AVs.

Takeaway:

Autonomous driving shifts liability from the driver to the manufacturer or software provider. Insurers need to develop new products, reinsurers and data providers are becoming more important. Munich Re is protecting the industry, Lemonade is testing digital models and Verisk is providing the data intelligence without which no AV insurance can function. Investors will find silent but indispensable winners of the upheaval here.

🛡️ Security & Cybersecurity

Big players:

$PANW (+1,64%) Palo Alto Networks - market leader in network security, focus on cloud & IoT, relevant for connected vehicles

$CRWD (+1,3%) CrowdStrike ($CRWD) - endpoint security, strong platform for AV endpoints and fleets

$CHKP (+2,72%) Check Point ($CHKP) - Security appliances & firewalls, focus on embedded & IoT

$CSCO (-0,03%) Cisco Systems ($CSCO) - Network security + automotive infrastructure

👉 Favorite: Palo Alto Networks ($PANW (+1,64%)
)

moat due to the width of the platform, which extends from the data center to the vehicle. With the $CYBR -integration, PANW has also covered the topic of identity security. Compounder properties through continuous expansion, high customer loyalty and a strong M&A strategy.

Hidden champions:

$CON (-1,61%) Argus Cyber Security (private, subsidiary of Continental) - specialized in automotive cybersecurity

$Upstream Security (private, Israel) - cloud-based cyber platform specifically for connected vehicles

Karamba Security (private, Israel) - embedded security for control units (ECUs)

$4704 (+1,62%) VicOne (subsidiary of Trend Micro) - AV-specific threat analysis

👉 Favorite: Argus Cyber Security (private, part of $CON (-1,61%)
Continental)

Pioneer in the automotive segment, deep integration in OEMs. Moat through early partnerships and specialization in vehicle architectures.

Shovel manufacturer:

$AKAM (-2,08%) Akamai - Content Delivery & Edge Security, relevant for OTA updates

$FTNT (-0,25%) Fortinet - Network & IoT security, broad base

$ZS Zscaler - cloud-native security for data traffic between AV & cloud

$NET (-0,96%) Cloudflare - infrastructure protection, DDoS protection for fleets & updates

$BB (-1,91%) BlackBerry QNX - Operating system & security framework for automotive

👉 Favorite: BlackBerry ($BB (-1,91%)
)

Moat by QNX, which is already running in millions of vehicles. Strong lock-in with OEMs. Compounder potential if QNX continues to scale as a security operating system for AV architectures.

Takeaway:

Cybersecurity is the nervous system of autonomous driving. Without secure communication, OTA updates and fleet protection, AV is inconceivable. Palo Alto Networks provides the necessary breadth and depth, Argus secures the vehicles themselves, and BlackBerry QNX provides the foundation in the control units. Investors are relying on the invisible gatekeepers of tomorrow's mobility.

⚡ Energy & infrastructure

Big player:

$EBK (+0%) EnBW - operator of charging infrastructure in Germany, expansion of fast-charging parks

$SHEL (+0,52%) Shell - massive entry into e-mobility & charging infrastructure, partnerships with OEMs

$BP (+0%) BP - charging and energy infrastructure via bp pulse, global rollout

$TSLA (-0,63%) Tesla ($TSLA) - Supercharger network as AV backbone, potential licensing model

👉 Favorite: Tesla ($TSLA (-0,63%)
)

Moat due to world's largest fast charging network with high availability & own software integration. Compounder, as Supercharger can grow as a service independently of the OEM.

Hidden champions:

$Ionity (private, joint venture of BMW, Mercedes, Ford, VW, Hyundai) - Europe's premium charging network 👉 Access via OEMs such as BMW or Mercedes

$ALLG Allego - listed charging infrastructure operator, focus on Europe

$FAST (-1,79%) Fastned (FAST.AS) - fast charging network in Europe, rapidly growing

$DCFC Tritium DCFC - manufacturer of fast charging stations, globally active

👉 Favorite: Fastned ($FAST (-1,79%)
)

Clear business model as a pure fast-charging operator, strong moat through premium locations & brand perception. Compounder potential via expansion in Europe.

Shovel manufacturer:

$ABBN (-2,53%) ABB - leader in charging hardware & power grid infrastructure

$ENR (-6,01%) Siemens Energy - grid infrastructure & charging hardware, important supplier for energy transition + AV

$SU (-3,44%) Schneider Electric - power distribution, smart grids for charging infrastructure

$6594 (-2,79%) Nidec - motors & drives for e-mobility

$ETN (-2,37%) Eaton - Energy management & charging infrastructure components

👉 Favorite: ABB ($ABBN (-2,53%)
)

Broadly positioned from fast charging hardware to grid technology. Moat due to market leadership & long-standing customer base. Compounder, as electromobility + AV will bring growth for decades.

Takeaway:

Autonomous vehicles don't just need software, they need a reliable charging and energy base. Tesla is securing a massive advantage with its Supercharger network, while hidden champions such as Fastned are setting the pace in Europe. On the shovel side, ABB dominates with its global infrastructure expertise. Investors should not underestimate this sector, as no AV will drive without energy.

🏙️ Mobility services & platforms

Big players:

$UBER (+0,66%) Uber Technologies - ride-hailing, partnerships with AV start-ups (Momenta), robotaxi plans in Munich

$LYFT (-0,68%) Lyft - ride-hailing, own AV programs, cooperations with Aptiv & Motional

$DIDIY (-1,09%) Didi Global - largest ride-hailing network in China, AV research on Didi Autonomous Driving

$9888 (+0,05%) Baidu Apollo - robotaxi operator in China, leading with Apollo Go

$AMZN (-1,61%) Amazon / Zoox - fully autonomous robotaxi, integration into Amazon ecosystem

👉 Favorite: Baidu Apollo ($9888 (+0,05%)
HK, China, HKEX)

Moat through network effects in the world's largest mobility market. Apollo Go has already completed hundreds of thousands of robotaxi journeys. Compounder potential as China aggressively promotes AV.

Hidden champions:

$Momenta (private, China) - L4 autonomy software, partnerships with Mercedes & Toyota, based in Suzhou, China

👉 Access indirectly via investors such as $7203 (-0,41%) Toyota or Mercedes $MBG (+0,22%)

$Motional (joint venture Hyundai & Aptiv, private, USA/South Korea) - Robotaxi tests in the USA

👉 Access via $Hyundai or $APTV (-0,25%) Aptiv

$WeRide (private, China) - Robotaxi & AV bus solutions, based in Guangzhou, China

👉 Investors: Renault-Nissan-Mitsubishi Alliance

$Cruise (private, USA) - GM subsidiary for robotaxis, based in San Francisco

👉 Access via $GM (+0,4%) General Motors

👉 Favorite: Motional (private, USA/South Korea)

Strong moat through OEM partnerships (Hyundai + Aptiv). Realistic scaling through series integration, compounder potential via global fleet integration.

Shovel manufacturer:

$HTZ (-1,1%) Hertz Global - fleet management, integration of AVs in rental fleets

$SIX2 (+1,39%) Sixt SE - Car sharing & fleet leasing, focus on Europe

$R (-0,8%) Ryder System ($R, USA, NYSE) - fleet services & leasing, AV test integration

$GRAB (-0,72%) Grab Holdings ($GRAB, Singapore, Nasdaq) - Southeast Asian ride-hailing market leader, entry into AV services

$Ola Cabs (private, India) - AV pilot projects in India

👉 Favorite: Sixt SE ($SIX2 (+1,39%)
.DE, Germany, Xetra)

Moat due to premium positioning in Europe, flexible business model (rental, leasing, car sharing). Compounder, as Sixt invests early in fleet integration of AVs and benefits from growing Mobility-as-a-Service market.

Takeaway:

Mobility services are the interface to the end customer. This is where it will be decided whether AVs remain just technology or break through to the mass market. Baidu dominates in China, Motional scores with strong partners in the West, and Sixt provides the platform to bring scalable AVs into everyday life in Europe. Investors who get in early will secure access to the future platform monopolies of mobility.

🔋 Battery & drive

Big player:

$300750 CATL - world market leader for battery cells, supplies almost all major OEMs

$373220 LG Energy Solution - global player, supplier for Tesla, Hyundai, GM

$6752 (+6,12%) Panasonic Holdings - long-standing partner of Tesla, strong in energy storage

$1211 (+0,57%) BYD - integrates battery production and vehicles, pioneer in blade batteries

👉 Favorite: CATL ($300750
SZ, China, Shenzhen)

Moat due to technological leadership and economies of scale, supplies almost all global OEMs. Classic compounder, as batteries are at the heart of every AV fleet.

Hidden champions:

$Northvolt (private, Sweden) - European battery startup, sustainable production, supplies VW and BMW 👉 Access indirectly via VW ($VOW3 (+0,39%) DE, Germany, Xetra) or BMW ($BMW (+0,28%) DE, Germany, Xetra)

$SLDP Solid Power - specialist for solid-state batteries, partnerships with Ford and BMW

$ProLogium (private, Taiwan) - solid-state batteries, pilot projects with Mercedes👉 Access indirectly via Mercedes-Benz Group ($MBG (+0,22%) DE, Germany, Xetra)

$QS (-3,76%) QuantumScape ($QS, USA, NYSE) - solid-state batteries, strong focus on future technology

$MOD (-3,58%) Modine Manufacturing (USA, NYSE) - Thermal management for batteries, e-motors and power electronics. Critical for range and safety.

$KULR (-4,48%) Technology (USA, NYSE) - specializes in battery cooling, energy storage and recycling. Still small, but focus on safety makes it interesting in the AV context.

$ZIL2 (+2,03%) ElringKlinger (DE, Germany, Xetra) - supplier of battery packs, housings, seals and fuel cell technology. Supports OEMs in electrification and alternative drive systems.

👉 Favorite: Solid Power ($SLDP
USA, Nasdaq)

Technology leader in solid-state batteries with strong OEM partnerships. Moat through patents and early market entries. Compounder potential through commercialization from 2027+.

Blade manufacturer:

$6594 (-2,79%) Nidec (JP) - leader in electric motors for EVs and AVs

$IFX (-4,01%) Infineon Technologies (DE) - semiconductors for power electronics and battery management

$300450 Wuxi Lead Intelligent (China, Shenzhen) - machines for battery production

$UMI (-4,53%) Umicore (Belgium, Euronext) - cathode materials and recycling

$ALB (-2,8%) Albemarle (USA, NYSE) - Lithium mining and processing

👉 Favorite: Infineon Technologies ($IFX (-4,01%)
DE, Germany, Xetra)

Moat due to market leadership in power electronics, deeply integrated in battery and drive systems. Compounder potential due to growing demand for silicon carbide (SiC) chips for EV and AV applications.

Takeaway:

Battery and drive are the foundation of autonomy. Without powerful energy storage, reliable electric motors and robust power electronics, no autonomous vehicle can be operated economically. CATL dominates cell production, Solid Power is a promise of the future in solid state technology, and Infineon supplies the critical power electronics. Investors who neglect this sector are ignoring the heart of autonomous driving.

🗺️ Maps & Mapping

Big players:

$GOOGL (-0,4%) Alphabet / Waymo (USA, Nasdaq) - HD maps for robotaxis, combined with AI-supported real-time navigation

$9888 (+0,05%) Baidu Apollo (China, HKEX) - leader in AV mapping in China, integrated into Apollo Go

$HERE Technologies (private, based in NL/DE, owners: Audi, BMW, Mercedes and others) - global provider of HD maps, industry standard for many OEMs

$TOM2 (-0,94%) TomTom (Netherlands, Euronext) - specialized in HD maps for AVs, partner of Volvo and Bosch

👉 Favorite: HERE Technologies (private, access via OEMs Audi, BMW, Mercedes)

Moat through global map databases, OEM consortium as backing. Compounder potential, as almost all autonomous vehicles rely on HD maps.

Hidden champions:

$002405 Navinfo Co. Ltd, (China, Shenzhen) - market leader for digital maps in China, partnerships with OEMs - unfortunately not tradable in the EU

$Civil Maps (private, USA) - specialized in AI-supported HD mapping for AVs

$DeepMap (private, USA, acquired by $NVDA (-1,23%) Nvidia) - high-precision mapping, integration with Nvidia Drive

$Mapbox (private, USA) - cloud-based mapping platform, strong in the developer ecosystem

👉 Favorite: NavInfo ($002405
SZ, China, Shenzhen)

Dominance in the Chinese market, regulatory anchoring and partnerships with major OEMs. Moat through market access in China, compounder potential through data growth.

Shovel manufacturer:

$PL (-1,61%) Planet Labs (USA, NYSE) - daily earth observation data, basis for dynamic mapping

$HEXA B (+0,53%) Hexagon AB (Sweden, Nasdaq Stockholm) - measurement technology and geodata solutions

$TRMB (-0,44%) Trimble (USA, Nasdaq) - positioning and geospatial data for AV and industrial applications

👉 Favorite: Hexagon AB ($HEXA B (+0,53%)
Sweden, Nasdaq Stockholm)

Moat due to decades of experience in geodata and measurement technology, strong market position in industry and automotive. Compounder potential, as mapping and positioning are indispensable for all AV applications.

Takeaway:

High-precision maps are the nervous system of autonomous driving. Without continuously updated HD maps, vehicles cannot navigate safely. HERE secures a key role through OEM stakes, NavInfo dominates the Chinese market, and Hexagon provides the geospatial bucket technology. Investors should not overlook this sector, as mapping is the invisible foundation on which autonomy works.

Sources: own research, https://www.t-online.de/mobilitaet/aktuelles/id_100901210/iaa-mobility-muenchen-2025-alle-neuheiten-von-audi-bmw-vw-opel.html

Images: https://www.deraktionaer.de/artikel/mobilitaet-oel-energie/robotaxis-das-milliardenrennen-der-autonomen-autos-20381083.html

https://insideevs.de/features/763886/vorschau-iaa-2025-neuheiten-2026/

Hello everyone, AI is becoming more and more important in our lives. However, this also means that massive investments continue to be made.

I see AI glasses $QCOM (-1,04%) further ahead.

$NVDA (-1,23%) makes a lot of things possible here.

In terms of infrastructure, I see $VRT (-1,78%) and $IESC (-3,95%) as one of the beneficiaries.

Cooling of data centers $MOD (-3,58%) and $FIX (-2,72%) .

And as mentioned in the report

$META (-0,92%)
$GOOG (-0,36%)
$MSFT (-0,14%)
$AAPL (-1,7%)

Meta brings the AI functions of its sunglasses to Europe, Gemini's live image recognition becomes accessible to all, and Grok also gets virtual eyes

First we chatted with the AI bots, then we talked to them - and if the manufacturers have their way, we will also show them our surroundings in future so that they can comment on them. What was previously a niche program is now set to find its way into the masses. And in Europe too.

Following the European launch of Meta AI, the Facebook group Meta is now also offering the smart functions of its Rayban sunglasses, which are already available in the USA, in various European countries, including Austria. Initially, it is possible to ask the sunglasses equipped with Meta AI a question by voice input, and the answer is then output via the sunglasses' small speakers. In the near future, the glasses' integrated cameras will also be used to ask questions about visible objects in the environment.

But it's not just Meta, Google is also expanding its potential user base for a similar feature. All Android users will be able to use the image recognition and screen sharing function in Gemini Live free of charge, which was previously reserved for owners of Pixel 9 or Galaxy S25 smartphones. Here, too, the AI answers questions about things it sees via the camera or on the screen. And Elon Musk's Grok now also has digital eyes, albeit only via the iPhone app for the time being.

Of course, where there is light, there is also shadow, and once again this means data protection. Concerns have been expressed, particularly with regard to Meta's smart Rayban glasses, that people could not only be filmed but also identified by the AI. This is not science fiction: in the fall of 2024, Harvard students were already able to determine the personal data of strangers in real time using commercially available Meta smart glasses.

All eyes on Google, efforts at Apple

Another topic that has caused a stir in recent days: the antitrust proceedings against Google. And in this case, an eye is also being cast on the topic of AI, as the company could use the technology to further strengthen its position. Among other things, Google is said to be paying "enormous sums of money" to Samsung to have Gemini installed as the standard AI app on its smartphones. Should the Google business be split up, an AI competitor has already signaled its interest: OpenAI would like to take over the Chrome browser.

In this context, it was made public that Gemini now has 350 million monthly and 35 million daily active users. In October, it still had nine million daily active users and 90 million monthly active users. Despite the growth, however, the figures are still lower than those of the competition: Meta AI has 500 million monthly users, while OpenAI has 400 million.

However, Google has also attracted the attention of competition authorities on this side of the Atlantic. The EU Commission is investigating Google's AI overviews after publishers recorded losses in traffic and advertising revenue following their introduction.

These are problems that Apple does not have: There, they are making more of an effort to catch up. One of the ways in which the new Siri engineering boss Mike Rockwell is hoping to achieve this is by bringing people into the team who previously worked on the Vision Pro headset. Some of the once promised features of Apple Intelligence are still awaited. Previously, Apple had advertised AI functions in commercials that did not even exist, but after various complaints, the company is now much more cautious with its promises.

New tools and features

In terms of new features and tools, one of the things we can look forward to this week is that Google Workspace will receive components from NotebookLM. People with Gemini Advanced accounts can use Google's video AI Veo 2 in Gemini. Developers can test Google's hybrid reasoning model Gemini 2.5 Flash.

Microsoft, on the other hand, wants to integrate Copilot into the Xbox app. OpenAI has entered into a partnership with the Washington Post and is incorporating their content into ChatGPT. Sam Altman's team also enables developers to integrate OpenAI's image generator into their own applications via API. The o3 and o4-mini versions can now determine exactly where a particular photo was taken.

There is also good news from European providers. For example, the Swedish start-up Lovable, which specializes in vibe coding, has released version 2.0 of its tool, which even non-experts with no coding experience can use to build simple applications. Among other things, the tool now includes more options for cooperation and security checks.

There is also news from Paris. It was only in the fall that Thomas Wolf, Chief Science Officer (CSO) at Hugging Face, told me that, in addition to providing AI models and applications, the platform also wanted to get involved in the field of robotics, and now these plans are becoming more concrete: With the acquisition of Pollen Robotics, the French want to offer open source robots, namely the software as well as construction plans and 3D models.

(Jan 25 (Reuters) - The cloud computing arm of Alphabet Inc (GOOGL. O), opens new tab, announced on Thursday that it had entered into a partnership with startup Hugging Face, to facilitate the development of artificial intelligence (AI) software on the company's Google Cloud.25.01.2024)

https://www.derstandard.de/story/3000000266847/ki-google-chrome-chatgpt

Kate invests in energy @Iwanowitsch .

In line with Kate's post and my purchase of $VST (-1,11%) there is now a report from Focus Online.

AI stronghold instead of vacation region - Jorge Azcón, head of the regional government of Aragon, wants to make the region in north-eastern Spain the leading location for data centers. This could also be worthwhile for investors.

In 2024, numerous cloud providers such as Amazon , Microsoft and Blackrock announced plans to invest a total of 33.5 billion dollars in the construction of computer farms.

Management consultants McKinsey see this as confirmation. The experts estimate that demand for data centers in the USA alone could reach 80 gigawatts (GW) by 2030 and 35 GW in Europe.

Trillion-dollar market for system operators and their suppliers

A mega market for system operators and their suppliers. At a total cost of 50 million dollars per megawatt (MW), the market potential for AI data centers could total 2.5 to three trillion dollars, writes Guillaume Chieusse, portfolio manager for European equities at Oddo BHF AM.

The story: Data centers form the infrastructure and thus the basis for the boom. The server farms run training units to teach AI. With the knowledge acquired, the technology recognizes patterns in large amounts of data in order to create more accurate weather forecasts, warn of natural disasters or develop new medicines, for example.

As the training is to a certain extent independent of the transmission speed of the data, AI data centers can go into operation in regions such as Aragon, where land and electricity are still abundantly available.

Experts warn of imminent energy shortages

Still. Because energy consumption in the world is rising rapidly. Experts are warning of shortages. The hunger for electricity in data centers alone has recently grown by an average of 17 percent per year. McKinsey forecasts annual growth of 13 percent in Europe.

On a positive note: "The boom in data centers is also a growth driver for various sectors," writes fund expert Chieusse. For example, a lot of energy is needed to cool the systems. This means that the more efficient the cooling technology, the greater the energy savings. With a growth rate of 46 percent, liquid cooling, which is significantly more efficient than air cooling, is beginning to establish itself.

"It is expected that investment expenditure in the area of cooling will increase by an average of around 18% per year until 2028," says Chieusse.

Alphabet, Amazon, Equinix and Vertiv are heavily involved.

$GOOG (-0,36%)
$AMZN (-1,61%)
$EQIX (-0,39%)
$VRT (-1,78%)
$MOD (-3,58%)

https://www.focus.de/finanzen/boerse/alphabet-und-amazon-investieren-alphabet-und-amazon-investieren-in-ki-rechenzentren-anleger-koennen-profitieren_id_260619773.html

Hello everyone, with Donald Trump and Elon Musk in office, I'm expecting volatile times ahead. I have therefore carried out a check on my portfolio to determine how solid my foundation (core) still is.

The following criteria were used for the check

Quality check

The quality check examines shares for the quality of the business model and the stability of the balance sheet

Enduring qualities

The long-term indicator checks whether share prices are rising steadily.

Outperformer check

Every investor is confronted with the question of whether to invest money passively in ETFs or in individual shares. A share should rise by more than 10% per year for an investment to be worthwhile.

KUV monster

When companies are hyped and everyone knows about the quality of a company, the return potential is usually low. The top 5% of the most highly valued shares according to the KUV criterion are problematic.

The following companies from my portfolio turned out to be

buy and leave.

Alphabet $GOOG (-0,36%) Modine Manuf. $MOD (-3,58%) Chipotle $CMG (+1,35%)

Microsoft $MSFT (-0,14%) Copart $CPRT (+1,5%) Vertex $VRTX (+0,36%)

Constellation Software $CSU (-3,1%) Man and machine $MUM (+1,13%)

Corcept Therap. $CORT (+0,26%) Tetra Tech $TTI (+0%) TransDigm Group $TDG (-0,1%)

IES Holding $IESC (-3,95%) ASML $ASML (-4,1%)

Hello everyone,

At the end of last year, I published my "top picks list" here, in which I presented the stocks that I have put on my watchlist for 2024 and am also partially invested in (unfortunately not in all of them 😁).

At the time, I had compiled a list of stocks recommended by well-known analysts and put them through "my requirements profile". The original 100 stock ideas then became the list below. A year later, I'm looking back. This was the performance:

🟢 $TMUS (+1,09%) +1,63%

🟢 Sterling Infrastructure: +100.68%

🟢 $CRM (+0,71%) Salesforce: +28.14%

🟢 $RR. (-4,19%) Rolls-Royce: +92.56%

🟢 $MOD (-3,58%) Modine Manufacturing: +98.68%

🟠 $MHO (+0%) M/I Homes: -1.46%

🟢 $META (-0,92%) Meta: +68.52%

🟢 $MCD (+0,89%) McDonalds: +0.14%

🟢 $MA (+1,26%) Mastercard: +26.26%

🟢 $ISP (-0,94%) Intesa Sanpaolo: +45.44%

🟢 $ISRG (+0,6%) Intuitive Surgical: +59.62%

🟠 $GCT (-1,48%) Gigacloud Technologies: -0.66%

🟢 $FDX (+0,13%) FedEx: +11.11%

🟠 $LPG (-1,1%) Dorian LPG: -47.70%

🟢 $COST (+1,18%) Costco: +43.34%

🟢 $US1011372067 Boston Scientific: +63.23%

🟢 $BKNG (+1,43%) Booking: +44.19%

🟠 $ABX Barrick Gold: -14.73%

🟢 $APP (-4,62%) Applovin: +753.81%

🟢 $GOOG (-0,36%) Alphabet: +39.28%

🟢 $AMZN (-1,61%) Amazon: +48,05%

🟢 $ANF (+0,51%) Abercrombie & Fitch: +69.99%

As you can see, my stock ideas have done quite well. $APP (-4,62%) with +753.81% was of course a big hit. $DORIAN With -47.70% it was a pipe-dropper.

🔥 I'm currently working on my top picks list for 2025. If you're interested, I'll be happy to share it again and put it up for discussion!

💬 What were your top picks in 2024? And what were the losers? I will reply to every comment and give you a brief assessment.

#stockanalysis
#watchlist