Very thoughtful framework. The distinction between AI infrastructure and AI applications feels especially important heading into 2026. After a capex-heavy phase, it makes sense that the market will reward those showing measurable ROI and real-world adoption (vs. buildout narratives). Thanks for the article! (and the heads up on Pagaya, hadn't heard of it before).
Really good write up. Thanks Ray!
Thanks, Chris.
Really think that Pagaya will outperform in 2026 (if we have a good consumer credit market of course)
I think, unless there is a recession, they will do well.
OMG, those OpenAI circular deals. Bubble for real?
Great write-up Ray!
Thanks, Gab.
Merry Christmas.
Very thoughtful framework. The distinction between AI infrastructure and AI applications feels especially important heading into 2026. After a capex-heavy phase, it makes sense that the market will reward those showing measurable ROI and real-world adoption (vs. buildout narratives). Thanks for the article! (and the heads up on Pagaya, hadn't heard of it before).
Excellent review of AI beneficiary companies for 2026.. some I never heard off
Glad to hear it!