Alpha Coverage #162
AI, Robotics, Space, Quantum Computing, Climate Change/Energy Transition, Biotech/Genomics
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[News] JinkoSolar, Masdar sign 2 GW module purchase deal for Abu Dhabi’s gigascale RTC project
JinkoSolar (JKS) said Tuesday it signed an agreement to supply 2 GW of solar modules to United Arab Emirates renewables developer Masdar for a solar and battery storage gigaproject in Abu Dhabi, the world’s first gigascale round-the-clock renewable energy project.
Under the agreement, JinkoSolar (JKS) will provide Tiger Neo modules based on its N-type TOPCon technology platform and tailored to the project’s technical requirements, the company said.
Jointly developed by Masdar and the Emirates Water and Electricity Company, the project integrates a 5.2 GW solar photovoltaic plant with a 19 GWh battery energy storage system, the largest and most technologically advanced system of its kind in the world.
Link to Seeking Alpha News Article - May 12, 2026
GOOG 0.00%↑ PL 0.00%↑ #SpaceX
[News] SpaceX and Google are discussing orbital data centers
SpaceX (SPACE) and Google (GOOG) (GOOGL) are in discussions about using the former’s rocket launches to put data centers into space for the latter.
The tech giant has spoken to SpaceX and others about future launches for its Project Suncatcher initiative, a source familiar with the matter confirmed to Seeking Alpha.
Google is working with Planet Labs (PL) to launch two prototype satellites by early 2027.
Link to Seeking Alpha News Article - May 12, 2026
[News] COMPASS outlines 1 to 2-month FDA review goal as it targets launch readiness by year-end
CEO Kabir Nath reiterated launch timing and the gating data item for submission: “we will be launch ready by the end of this year,” and “Part B data from 006, which we continue to expect in early Q3, will be the final data set to complete the submission.”
Chief Commercial Officer Lori Englebert emphasized the review voucher’s planning impact and a potential FDA timeline: “One benefit of being selected for the voucher includes the potential for an ultra accelerated review time line of 1 to 2 months after final NDA submission.”
“the actual formal clock about 1 to 2 months as we understand it, will only start with the submission,” while cautioning “that’s a goal.” (CEO & Director Kabir Nath)
Link to Seeking Alpha News Article - May 13, 2026
[News] Xi asks Trump if U.S. and China can avoid ‘Thucydides Trap’ at high-stakes summit
Speaking just ahead of Trump, Xi noted the global attention on the meeting, and said a major question for the two countries was whether they could avoid the “Thucydides Trap,” CNBC reported, citing an official English translation of Xi’s Chinese remarks broadcast by CCTV.
The Thucydides Trap refers to how tensions historically between a rising and ruling power have often resulted in a war. Graham Allison, the Harvard professor who popularized the concept, told CNBC’s “Squawk Box Asia” that he expects the trade truce Trump and Xi reached at their meeting in South Korea last fall will become a formal agreement.
Xi also said that Taiwan was the most important issue for U.S.-China relations, and if not handled well it would push the bilateral relationship to a “dangerous” place, according to state media.
Link to Seeking Alpha News Article - May 14, 2026
[News] Taiwan Semi expects global chip market to reach $1.5T by 2030: report
Taiwan Semiconductor Manufacturing (TSM) expects the global semiconductor market to exceed $1.5T by 2030, boosting its prior forecast of $1T, Reuters reported, citing presentation materials ahead of a tech symposium on Thursday.
TSM expects AI and high-performance computing, or HPC, to account for 55% of the $1.5T market, followed by smartphones with 20% and automotive applications with 10%, the report added.
The world’s largest foundry said it has been boosting capacity at a faster pace in 2025 and 2026 and intends to build nine phases of wafer fabs and advanced packaging facilities in 2026.
The company is expected to ramp up capacity for its most advanced 2-nanometer, or nm, and next generation A16 chips, with a compounded annual growth rate, or CAGR, of 70% from 2026 to 2028.
TSM noted that the CAGR of capacity for its advanced packaging Chip on Wafer on Substrate, or CoWoS, is forecast at more than 80% from 2022 to 2027.
The company noted that AI accelerator wafer demand is forecast to increase 11-fold from 2022 to 2026.
TSM expects a 1.8-fold year-over-year increase in Arizona output by 2026, with yields comparable to those in Taiwan.
Link to Seeking Alpha News Article - May 14, 2026
[News] Netflix expanding AI-generated content with INKubator animation studio
Netflix (NFLX) is hiring producers, software engineers, and CG artists for a new AI-driven animation studio called INKubator, according to technology and entertainment newsletter Lowpass.
The job listings classify INKubator as a “next-generation, creative-led, GenAI-native animation studio to bridge innovation with imaginative storytelling.”
Link to Seeking Alpha News Article - May 14, 2026
[YouTube | Sky News] China’s Tech Takeover: Has the US Lost Superpower Status?
Is America’s status as the world’s number one superpower now under serious threat from China?
While the USA has the world’s biggest economy, and the most capable military, its supremacy in technology is now at risk.
That may be one reason why tech bosses like Elon Musk and Jensen Huang joined US President Donald Trump on his recent visit to China. But was that a sign that the race was being lost?
Sky News’ Science and Technology Editor, Tom Clarke explores how a recent decision by the Trump administration may have already set the USA back and could help China own the 21st Century.
Link to Full Video (12:09 Minute) - May 09, 2026
[Chart | The Compound]: Nasdaq Euphoria is Hitting its Limit | TCAF 242
Why this is not 1999.
Link to YouTube Clip (01:18 Hours)Timestamped - May 15, 2026
News, Facts, Analyst & Market Commentary - Short Reads:
HON 0.00%↑ #QNT #Honeywell
Honeywell’s Quantinuum prepares for U.S. IPO with S-1 filing
According to the filing, the firm, majority-owned by Honeywell (HON), intends to sell shares of its Class A common stock as part of a listing on the Nasdaq Global Select Market under the ticker symbol “QNT.”
Quantinuum has yet to finalize the number of shares and the price range for the proposed offering.
Link to Seeking Alpha News Article - May 09, 2026
FSLR 0.00%↑ JKS 0.00%↑ TAN 0.00%↑ KGRN 0.00%↑
China-linked U.S. solar factories shunned in Trump crackdown - Reuters
The law, which blocks manufacturing credits from going to factories that are tied to China, is meant to address Chinese dominance in the supply chain and help with reshoring production, but it also threatens to slow the deployment of solar energy, according to the report.
Top solar companies, banks, and insurers have stopped doing business with at least a half dozen recently built U.S. solar panel factories because of restrictions on Chinese-linked businesses attached to tax credits by the One Big Beautiful Bill Act, Reuters reported this week, citing industry executives and internal documents.
Banks including Morgan Stanley, JPMorgan, and Goldman Sachs are said to have scaled back tax-equity financing for some solar projects due to concerns that interpretations by the Trump administration could retroactively invalidate tax credits.
The Solar Energy Manufacturers for America Coalition, a trade group representing non-Chinese companies with U.S. factories such as First Solar (FSLR) and Hanwha’s Qcells, has urged the Treasury Department to take a tough stance.
Chinese-linked factories account for ~40% of U.S. manufacturing capacity, according to Reuters, and “very few Chinese manufacturers are actually decoupling themselves from their U.S. factories entirely,” according to Wood Mackenzie.
China’s JinkoSolar (JKS), which operates a factory in Florida, and the Chinese parent company of Boviet Solar, which makes panels in North Carolina, have said they are looking for outside investors.
Link to Seeking Alpha News Article - May 09, 2026
ITA 0.00%↑ USO 0.00%↑ FCG 0.00%↑
Crude oil rises after Trump calls Iran’s peace proposal ‘totally unacceptable’
Iran’s proposal reportedly emphasizes Iranian sovereignty over the strait while calling on the U.S. to end its naval blockade, guarantee no further attacks, lift sanctions, and end a U.S. ban on Iranian oil sales.
Link to Seeking Alpha News Article - May 10, 2026
[Newsletter Exclusive] Babcock & Wilcox Enterprises GAAP EPS of -$0.62 misses by $0.59, revenue of $214.4M (+44.3% Y/Y) beats by $64.7M
Total global pipeline grew by 17% to more than $14.0 billion
Bookings of $2.5 billion in the first quarter, a 1,971% increase compared to the same period of 2025
Backlog of $2.7 billion in the first quarter, a 483% increase compared to the same period of 2025.
“Our total pipeline grew by more than 17% to over $14 billion, including new AI data center opportunities” (CEO, President & Chairman of the Board Kenneth Young).
“Our first quarter 2026 consolidated revenues were $214.4 million” (Executive VP & CFO Cameron Frymyer), and “Adjusted EBITDA from continuing operations was $16.1 million,” while noting the revenue increase was “primarily driven by large project volume, including $31 million from Base Electron” and also “the increasing need for electricity from fossil fuels driven by the demand from AI data centers and expanding economies.”
Robert Brown, Lake Street Capital Markets: Asked what is driving pipeline growth and what opportunities are being evaluated; CEO, President & Chairman of the Board Young: Said AI data centers were a major driver but added the company was also seeing “coal to natural gas conversion opportunities” and “large coal generation plant upgrades, environmental upgrades,” and described customer interest in combining “steam boilers with steam turbine” and potentially adding “a combustion turbine down the road” to increase output with limited site footprint.
Jeffrey Grampp, Northland Capital Markets: Asked whether B&W needs incremental investment to deliver multiple projects; CEO, President & Chairman of the Board Young: Said, “we feel good about the current supply chain” and described lining up multiple manufacturers by boiler size, while noting that securing capacity for “steam turbine” and “pressure parts” would become “crucial” as more projects progress.
Link to Seeking Alpha News Article - May 11, 2026
Circle Internet’s Q1 results demonstrate surging USDC transaction volume growth
Q1 USDC (USDC-USD) onchain transaction volume was $21.5T, surging from $11.9T in Q4 and $5.9T in last year’s Q1. The number of meaningful wallets climbed to 7.2M at the end of Q1 from 6.8M in the previous quarter.
USDC in circulation rose to $77.0B, beating the Visible Alpha consensus of $76.4B, from $75.3B in Q4 and $60.0B in Q1 2025.
Q1 GAAP EPS of $0.21 beats by $0.03.
Revenue of $694.13M (+20.0% Y/Y) misses by $20.75M.
“Meta, the world’s most preeminent social platform began using USDC for creator payouts.” (CEO Allaire)
“According to Visa’s reported figures on commercial transaction volume, USDC continued to gain market share and now accounts for 63% of all stablecoin transactions.” (CEO Allaire)
Circle Internet (CRCL) reaffirmed its 2026 guidance, which includes other revenue of $150M-$170M (vs. the Visible Alpha consensus of $170M), revenue less distribution cost margin of 38%-40%, and adjusted operating expenses of $570M-$585M.
“We are leaving our full year 2026 guidance unchanged.” (CFO Fox-Geen)
“However, this guidance does not include the future financial impacts of the Arc token presale, Arc incentive programs or any Arc-associated revenue streams.” (CFO Fox-Geen)
Link to Seeking Alpha News Article - May 11, 2026
Link to Seeking Alpha News Article - May 11, 2026
Link to Seeking Alpha News Article - May 11, 2026
AMD 0.00%↑ INTC 0.00%↑ QCOM 0.00%↑ ARM 0.00%↑ AMZN 0.00%↑ GOOG 0.00%↑
AMD, Intel, Qualcomm likely to benefit from server CPU super cycle, GF says
AMD (AMD), Intel (INTC), and Qualcomm (QCOM) are likely to be among the big beneficiaries due to the ongoing “server CPU super cycle,” investment firm GF Securities said.
“As the orchestration core of AI infrastructure buildouts, the Server CPU has gained significant traction over the past few months,” analysts at the firm wrote in a note to clients. “This is driven by the Agentic AI/inference trend, fueled by the breakthrough of OpenClaw and Anthropic’s ARR surging to $44bn in April. For instance, in latest earnings calls, AMD projected a >35% CAGR for Server CPU TAM by 2030, and Intel said the shift toward agentic AI is driving a structural demand for CPUs, where the GPU-to-CPU ratio is tightening from 8:1 in training to 4:1 in inference. Based on our estimates, assuming inference accounts for 90% of AI workloads and GPU-to-CPU ratio for AI servers to reach 2:1 in 2030, we now expect Server CPU TAM to grow 54%/39% in 2026/2027, reaching $135bn by 2030 from $26bn in 2025, with a 5-yr CAGR of 38%. That said, we project incremental Server CPU demand of 6.7m/7.6m/6.3m units in 2026/2027/2028 respectively, bringing total server CPU demand to 30m/38m/44m units over the same period, with a 23% 3-yr CAGR.”
Delving deeper, the firm said AMD and Intel are likely to be the main beneficiaries, as x86 CPUs are still the dominant architecture for servers.
“Fundamentally, Intel is well supported by ongoing capacity conversion and CPU price hikes in 2Q, as said in our report on April 16th,” the analysts explained. “For AMD, driven by solid product roadmap and portfolio with relatively sufficient capacity, we expect its share gains to continue. Currently, we forecast Intel’s DCAI and AMD’s server CPU business will grow by 39% and 73% in 2026, respectively.”
Intel is likely to also gain traction in next-gen AI servers, as its Xeon 6 is working with Nvidia’s (NVDA) Rubin NVL8 host CPU. Conversely, AMD’s Venice CPU is likely to be deployed across its Helios Rack and 8-GPU servers, the analysts added.
Even though x86 is still the dominant architecture, the investment firm believes Arm (ARM)-based CPUs could accelerate, via Rubin and application specific integrated circuits, including Amazon’s (AMZN) Graviton 5, Google’s (GOOG) (GOOGL) Axion 2, and Nvidia’s Vera.
“Nvidia has introduced a standalone Vera CPU rack (256 CPUs) for data center clients, with early adoption from Alibaba, CoreWeave, Meta, and Oracle,” the analysts added. “Within Google’s ecosystem, the TPU’s GPU-to-CPU ratio is shifting to 4:2, from the previously expected 4:1. Coupled with robust TPU outlook beyond 2026, we anticipate a further acceleration in Axion 2 shipments. Meanwhile, AWS’s Graviton 4/5 is also gaining momentum via both Teton Max rack (18 CPUs) and standalone Graviton rack for Meta. For Arm itself, the company revised up its AGI CPU demand to $20bn.”
Lastly, the firm believes that Qualcomm, which recently entered the data center CPU market, is “actively developing” a slate for 2028 and expects to hear more at its June 24 investor day.
“In a bull case scenario, assuming Qualcomm captures 30% of ARM-based CPU market in 2028 (~4mn units, with ASP of $3k and 30% net margin), the resulting $3.6bn in net profit would represent a ~30% boost to its annual non-GAAP earnings,” the analysts added.
Link to Seeking Alpha News Article - May 11, 2026
ASP Isotopes spikes after signing MoU for enriched uranium supply
ASP Isotopes (ASPI) up 9.7% in Monday’s trading after saying its Quantum Leap Energy subsidiary signed a non-binding memorandum of understanding with an unnamed European nuclear technology company specializing in advanced nuclear reactor development for the potential supply of high-assay low-enriched uranium.
Under the MoU terms, the companies will conduct a technical and economic assessment to determine the viability of a long-term collaboration for the supply of HALEU with uranium-235 content of greater than 10%.
The MoU outlines a potential framework where the European partner would agree to provide uranium feedstocks to QLE’s planned conversion and enrichment facilities, and QLE would agree to enrich such feedstocks to produce HALEU, including potential deconversion, for delivery to the partner company.
Link to Seeking Alpha News Article - May 11, 2026
Fortinet, Cloudflare likely to be among beneficiaries of post-quantum cryptography: BTIG
Fortinet (FTNT) and Cloudflare (NET) are likely to be among the beneficiaries of post-quantum cryptography spending, investment firm BTIG said.
Q-Day, or the moment that a quantum computer can break RSA-2048 encryption, is rapidly approaching, with some suggesting it could happen between 2028 and 2029. Additionally, two research papers published in March said the physical qubit requirement may be as low as 10,000, down from 1M, BTIG said. When this happens, the spending for post-quantum cryptography is likely to rise significantly, estimated to be between $3B and $8B by 2030, BTIG added.
“Governments are actively investing in adhering to NIST post-quantum standards, while commercial adoption is running ahead of scheduled mandates, primarily in HNDL-vulnerable verticals; Apple iMessage, Signal, and most cloud platforms offer comprehensive post- quantum solutions today, with the goal of achieving end-to-end defensibility on the near horizon,” the analysts wrote in a note to clients.
And much of that spending will go to cybersecurity and infrastructure incumbents the firm added, like Cloudflare and Fortinet, as they are already capturing some post-quantum cryptography spending now.
“Quantum-oriented equities will likely see technological validation when they are able to run Shor’s algorithm successfully,” the analysts explained. “While the exact timing of Q-Day is still being debated, we see cryptocurrency as one area where PQC adoption appears to lag other industries; we see this as a notable call-out given the $2-3 trillion in outstanding assets.”
Link to Seeking Alpha News Article - May 11, 2026
HIMX 0.00%↑ ENVX 0.00%↑ #IFNNY
Josh Wolfe’s lifecording basket, ranked by Quant: two strong buys, four holds, and a sell
Lux Capital co-founder Josh Wolfe has made two major public conviction calls, Nvidia (NVDA) at the Invest for Kids conference in 2016, which returned roughly 80x, and a 2024 bet on memory suppliers around the HBM narrative.
His third, which he told his wife and investment committee about on February 21, is “lifecording”: the thesis that wearable hardware devices will record daily life, audio first, then video, with AI continuously processing and surfacing connections.
Following his signature “arms dealers” methodology, backing component suppliers rather than device makers, Wolfe allocated a model $2M across nine positions mapping to the full hardware stack: Nordic Semiconductor (NDCVF) for BLE wireless, TDK (TTDKY) for MEMS microphones, Himax (HIMX) for AR optics, Ambiq Micro (AMBQ) for edge AI, Infineon (IFNNY) for power management, CEVA (CEVA) for DSP licensing, Synaptics (SYNA) for IoT SoC, Enovix (ENVX) for next-generation batteries, and Cirrus Logic (CRUS) for audio codec.
Link to Seeking Alpha News Article - May 11, 2026
Quantum Computing’s Q1 revenue explodes year over year due to acquisitions
For the quarter ended March 31, the photonics company with a focus on quantum computing reported a loss per share of $0.02 versus the consensus estimate calling for a loss per share of $0.05.
Revenue for the first quarter totaled $3.69M, which was more than the $3.28M estimate. It also dwarfed the $39,000 in revenue the New Jersey-based company reported during the first quarter of 2025. The year-over-year increase was driven by the acquisitions of Luminar Semiconductors in February 2026 and NuCrypt in March 2026.
As demand for faster and more efficient data processing grows, it is becoming increasingly clear that photonics will be a critical component of future technological advancements given its low-power consumption and ability to operate at room temperature,” said Quantum Computing CEO Yuping Huang.
Link to Seeking Alpha News Article - May 11, 2026
[Newsletter Exclusive] Archer Aviation Q1 revenue surges, expanding operations at Hawthorne Airport
“We made tremendous progress towards beginning operations in the U.S. later this year, with record FAA certification progress and our most expansive flight testing to date,” Archer Aviation CEO Adam Goldstein said in a statement.
Link to Seeking Alpha News Article - May 11, 2026
Hims & Hers Health GAAP EPS of -$0.40 misses by $0.43, revenue of $608.1M (+3.8% Y/Y) misses by $8.75M
For the second quarter 2026, we expect:
Revenue of $680 million to $700 million vs $642.94M consensus
Adjusted EBITDA of $35 million to $55 million, reflecting an Adjusted EBITDA margin of 5% to 8%.
For the full year 2026, we expect:
Revenue of $2.8 billion to $3.0 billion vs $2.72B consensus
Adjusted EBITDA of $275 million to $350 million, reflecting an Adjusted EBITDA margin of 10% to 12%
“Within 6 weeks of introducing direct access to Novo Nordisk’s GLP-1 products to our platform, we have fulfilled more than 125,000 shipments for Wegovy products.” (CEO Dudum)
“In the first quarter, revenue grew 4% year-over-year to $608 million... subscribers grew 9% year-over-year to nearly 2.6 million and adjusted EBITDA was $44 million.” (CFO Okupe)
“International growth driven by our acquisitions of ZAVA and Livewell remained strong as revenue increased nearly tenfold... to $78 million.” (CFO Okupe)
“As a result of our pivot, we incurred approximately $33 million of restructuring costs” and “approximately $28 million of onetime charges negatively impacted gross margins by roughly 5 points... which were 65% on a GAAP basis and 70% when adjusted for these costs.” (CFO Okupe)
Maria Ripps, Canaccord: Asked compounded-to-branded transitions/retention and peptide readiness; CEO Dudum said “almost all of the new business is now coming in on the branded side” and on peptides “we likely will not be first to market. But when we do, we’ll make sure that we feel like we’ve got everything done the right way.”
Citi analyst Daniel Grosslight argued that Hims (HIMS) is in a transition phase as it refocuses on branded drugs, new launches, and international growth, reducing reliance on compounded GLP-1s. With a Neutral rating on the stock, Grosslight added that while the company’s ongoing business transformation has generated strong topline growth, its profitability will suffer in the near term.
However, Needham analyst Ryan Macdonald, with a Buy recommendation, raised his price target on HIMS to $35 from $30 per share, arguing that long-term gains for investors can offset near-term margin-related headwinds. “The Novo partnership helps to bring in a large number of net new subs for HIMS to create a durable relationship with and cross-sell multiple categories of care like labs, testosterone, and menopause care,” Macdonald wrote.
Link to Seeking Alpha News Article - May 11, 2026
Link to Seeking Alpha News Article - May 12, 2026
Link to Seeking Alpha News Article - May 12, 2026
Tower Semiconductor initiated with bullish views at GF Securities
Analysts led by Alicia Xia said that Tower Semiconductor is a leading specialty foundry in niche analog and photonics segments with a differentiated position in silicon photonics, or SiPho, offering a compelling way to play the structural growth of AI optical interconnects.
“We expect TSEM to benefit significantly from the rapid ramp of 800G/1.6T pluggable modules, the penetration rate of SiPho and the longer-term transition toward NPO [Near-Package Optics] architectures, as hyperscalers aggressively scale AI clusters. With its mature platform, proven heterogeneous integration capabilities, and aggressive capacity expansion targeting over 5x SiPho capacity vs Q4 2025 run-rate (with over 70% pre-booked through 2028), TSEM is well positioned to capture share in the high-growth AI optical supply chain,” said Xia and her team.
Link to Seeking Alpha News Article - May 12, 2026
[Newsletter Exclusive] MongoDB sees bullish views at Citi on AI growth
“We believe MongoDB is bucking the trend of a weaker traditional software budget environment, as more agents and “vibe-coded” applications expand MDB’s universe by driving demand for write-heavy, schema-evolving operational workloads. Put simply, we see MongoDB as both a direct and indirect beneficiary of the explosive growth of frontier labs and AI coding tools,” said analysts led by Tyler Radke.
The analysts noted that their customer and partner checks suggest significant ramp-up is underway for Atlas usage in the first quarter at several marquee AI customers.
Link to Seeking Alpha News Article - May 12, 2026
Autonomous trucking goes commercial, even as freight faces a challenging environment
Autonomous trucking is moving from concept to commercial operation. As part of this, real deployments are now running on fixed corridors.
The hybrid model — autonomous on the middle mile, human-driven for local delivery — is a structure firms have deployed.
This comes even as the broader freight market remains under pressure from tight capacity and fragile supply conditions.
Many experts on autonomous mobility see this as an easier market to tackle compared to goals like developing robotaxis.
Industry bulls argue that highway routes are more predictable, making them a simpler task for autonomous technology. Meanwhile, trucking labor costs are high, and the trucking sector faces persistent driver shortages, giving a clear business advantage for companies if the innovation proves viable.
The industry has faced higher fuel prices in recent months, with industry leaders noting margin pressures in recent earnings reports.
Early startups included names like Aurora Innovation (AUR), Kodiak AI (KDK) and Waabi, which had backing from big names like Uber (UBER) and Nvidia (NVDA).
Link to Seeking Alpha News Article - May 12, 2026
[Newsletter Exclusive] Quantum Computing jumps as Q1 revenue surges, Wedbush says story still in ‘early days’
“We continue to expect the recently completed acquisition of LSI to contribute between $20M to $25M in revenue in 2026, with LSI expected to bolster QUBT’s semiconductor capabilities that will expand the company’s addressable market and strengthen its ability to deliver integrated photonic solutions at scale,” Wedbush analyst Antoine Legault wrote in a note to clients. “Net, while we are encouraged by the company’s 1Q26 results and forward commentary, we maintain our NEUTRAL rating and $12 PT on QUBT and continue to view the company as a ‘show me’ story given it remains at an earlier stage of development than its public peers with a considerably lower quantum hardware revenue base.”
Link to Seeking Alpha News Article - May 12, 2026
T1 Energy GAAP EPS of $0.01 beats by $0.15, revenue of $177.45M (+232.0% Y/Y) beats by $66.88M
“Today, I’m happy to report that construction of the 2.1 gigawatt Phase 1 of G2_Austin is progressing according to schedule” (CEO & Chairman Daniel Barcelo), and “we remain on schedule to achieve first cell production in Q4 2026” (CEO & Chairman Barcelo).
“We are also working to agree to a comprehensive financing package for the remaining CapEx of approximately $225 million” (CEO & Chairman Barcelo), and “we continue to target the announcement of the G2 financing in the second quarter” (CEO & Chairman Barcelo).
Link to Seeking Alpha News Article - May 12, 2026
Link to Seeking Alpha News Article - May 12, 2026
[Newsletter Exclusive] NET Power targets FID in H2 2026 and early 2029 commercial operation for 80 MW Permian Phase 1
CEO Daniel Rice framed demand as driven by AI and “behind-the-meter power,” saying the market is now “governed by availability of power, not the cost of power,” and positioned NET Power’s West Texas approach as “a pathway to under $100 a megawatt hour.”
CEO Rice emphasized that additional capital commitments hinge on commercial commitments, stating, “Before we move forward with committing any substantial amounts of capital to securing additional equipment, we need to ensure the customer demand is not just there, but is committed to our projects.”
Horstman detailed the project plan and structure: “Project Permian Phase 1 is the commercial deployment of the clean power product, 80 megawatts net output, greater than 90% CO2 capture... We continue to target FID in the second half of 2026 with commercial operation in early 2029.”
Link to Seeking Alpha News Article - May 12, 2026
Nextracker Non-GAAP EPS of $1.05 beats by $0.12, revenue of $881M beats by $51.18M
“This was one of our strongest quarters to date” with FY ‘26 bookings mix of “79%...in the U.S. and 21% from rest of world” and Europe described as “a highlight with record fiscal year bookings” (Director & President Howard Wenger).
“We saw one of the highest booking quarters in our history” and “exited the year with record backlog” as the company pushed its “everything, but the panel strategy” toward a more integrated power plant platform (CEO Shugar).
“We are increasing the targets...to revenue in the range of $3.8 billion to $4.1 billion and adjusted EBITDA in the range of $825 million to $900 million” for FY ‘27 (CFO Boynton).
“For fiscal ‘27, we expect more than 40% growth in our non-tracker business, bringing total non-tracker revenue to approximately 15% of total revenue” (CFO Boynton).
Link to Seeking Alpha News Article - May 12, 2026
Link to Seeking Alpha News Article - May 12, 2026
[Newsletter Exclusive] USA Rare Earth awarded $14.2M Texas grant for Round Top project
USA Rare Earth (NASDAQ: USAR) on Tuesday said it had been awarded a $14.2 million grant from the Texas Semiconductor Innovation Fund to support development of its Round Top Mountain heavy rare earth project in Texas.
USA Rare Earth said the Round Top Mountain deposit contains an estimated one billion tons of material and includes 15 of the 17 rare earth elements.
The grant was awarded through the Texas Semiconductor Innovation Fund established under the Texas CHIPS Act, the company said.
Link to Seeking Alpha News Article - May 12, 2026
D-Wave Quantum GAAP EPS of -$0.05 beats by $0.05, revenue of $2.86M (-80.9% Y/Y) misses by $1.28M
Revenue for the first quarter of 2026 was $2.9 million, a decrease of $12.1 million, or 81%, from revenue of $15.0 million for the 2025 first quarter, that included $12.6 million in revenue recognized from the Company’s first sale of an annealing quantum computing system.
Closed Bookings of $33.4 million for the first quarter of 2026, up 1,994% year over year from the first quarter of 2025 Bookings of $1.6 million, and up 149% from the immediately preceding fourth quarter of 2025 Bookings of $13.4 million. First quarter Bookings included a $20 million system purchase by Florida Atlantic University (”FAU”), and a $10 million, two-year enterprise Quantum Computing as a Service (QCaaS) agreement with a Fortune 100 company.
“We’re now expecting 2 or 3 system deals per year with expected delivery of at least 2 systems this year in 2026.” (President, CEO & Director Baratz)
“We are targeting our dual rail gate model road map to extend to 100 logical qubits by the end of 2032.” (President, CEO & Director Baratz)
“By the end of 2028, we plan to have approximately 175 physical qubits” and “the integration with D-Wave’s scalable control is expected to take us to 10 logical qubits by 2030, followed by 100 logical qubits 2 years later.” (President, CEO & Director Baratz)
Link to Seeking Alpha News Article - May 12, 2026
Link to Seeking Alpha News Article - May 12, 2026
Global oil inventories seen declining faster than expected as Iran war continues - EIA
In its latest Short-Term Energy Outlook, the EIA said it expects global oil stocks to decline by 2.6M bbl/day on average in 2026, compared with its previous estimate of a 300K bbl/day drop, including a decline of 8.5M bbl/day on average in Q2.
The EIA estimated that Iraq, Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, and Bahrain shut in a combined 10.5M bbl/day of crude oil production in April, which is expected to rise to a peak of 10.8M bbl/day this month as Middle Eastern storage tanks hit maximum capacity, and the agency expects that Iran will have to lower its output due to the U.S. blockade of Iranian ports.
In addition to the supply revisions, the EIA also cut its global oil demand forecasts, now seeing demand increasing by ~200K bbl/day this year, down from last month’s forecast of 600K bbl/day of growth.
Link to Seeking Alpha News Article - May 12, 2026
Eos Energy Enterprises GAAP EPS of $0.12 beats by $0.34, revenue of $56.96M (+444.6% Y/Y) beats by $0.56M
Revenue totaled $57.0 million, a 445% year-over-year increase, driven by full battery module automation and 5.7x higher cube deliveries.
Commercial opportunity pipeline increased to $24.3 billion, up 56% from the prior year, with a $644.6 million orders backlog representing 2.6 GWh as of March 31, 2026.
COO John Mahaz tied operating progress to manufacturing execution, saying, “Cube output increased 467% versus Q1 ’25 and was up 17% sequentially from Q4,” while “Direct labor per cube is down 47% year-over-year and 25% quarter-over-quarter.” He added, “Initial production is on track for the end of Q2, and we expect full production to occur in Q4” at Thorn Hill.
On profitability timing, Kroeker told analysts, “We’re still targeting gross margin — adjusted gross margin positive later this year,” and added, “We believe we will achieve positive adjusted EBITDA.
Martin Malloy, Johnson Rice & Company: asked how soon to expect project announcements under Frontier; Kroeker said, “There’s a good chance we will be delivering on volume… in 2026, but this really builds momentum going into 2027 and beyond.”
Link to Seeking Alpha News Article - May 13, 2026
Link to Seeking Alpha News Article - May 13, 2026
Eos Energy surges on Cerberus partnership, Q1 earnings beat
Eos Energy Enterprises (EOSE) up 36.7% pre-market Wednesday after unveiling a partnership with Cerberus Capital Management to deploy long-duration energy storage systems and reporting Q1 profit that topped expectations.
Cerberus and Eos Energy (EOSE) will form Frontier Power USA, an independent development and investment company established to build, own, and operate a diversified portfolio of long-duration battery energy storage projects deploying Eos Energy’s proprietary zinc bromide-based Z3 technology with the strategy of becoming an independent power producer.
Cerberus said it will anchor Frontier Power USA with a $100M equity commitment and extend its existing Eos (EOSE) lock-up through year-end 2026; Cerberus is expected to receive Eos warrants and controlling equity in Frontier Power USA in exchange for its commitment.
Link to Seeking Alpha News Article - May 13, 2026
Tower Semiconductor surges as record guidance, Q1 beat and $1.3B in new contracts ignite rally
The company posted Q1 Non-GAAP EPS of $0.57 beats by $0.01.
Revenue of $414M (+15.6% Y/Y) beats by $3.02M.
The company guides revenue for the second quarter of 2026 to be $455 million vs. consensus of $436.38M, a company record, with an upward or downward range of 5%, reflecting revenue increase of 22% year-over-year and 10% quarter-over-quarter. Company targets sequential quarter-over-quarter revenue and margin growth throughout 2026.
In a separate release, Tower Semiconductor (TSEM) has signed $1.3 billion in contracts for Silicon Photonics (SiPho) for 2027, with $290 million received in prepayments.
This agreement includes even larger wafer commitments for 2028, with further prepayments expected by January 2027.
To support rising demand from over 50 active customers, the company is expanding its manufacturing capacity, aiming for $2.8 billion in revenue and $750 million in net profit by 2028.
Link to Seeking Alpha News Article - May 13, 2026
Evolv Technologies Non-GAAP EPS of -$0.02 in-line, revenue of $46.3M (+44.7% Y/Y) beats by $2.6M
Q1 2026 Ending ARR of $127.3 million, up 20% year-over-year.
“We remain on track to be comfortably over 10,000 units deployed by the end of this year, reflecting sustained customer demand and our ability to scale responsibly.” (President, CEO & Executive Director John Kedzierski)
“Expedite, our autonomous AI-based bag screening solution continues to gain traction...” and “We now have over 75 expedite customers, representing approximately 6% of our total customer base, up from roughly 1% a year ago.” (President, CEO & Executive Director Kedzierski)
“We are raising our outlook for 2026... now expect $175 million to $180 million, up from $172 million to $178 million.” (President, CEO & Executive Director Kedzierski)
The Company expects ending ARR at December 31, 2026, to increase to approximately $145 to $150 million, reflecting growth of approximately 20% to 25% year-over-year.
“We continue to expect a sequential decline in Q2 revenue... This is a timing dynamic related to backlog mix and fulfillment timing and not a reflection of end market demand, which remains strong.” (Chief Financial Officer Kutsor)
Link to Seeking Alpha News Article - May 12, 2026
Link to Seeking Alpha News Article - May 13, 2026
Activist investor sees BWX Technologies stock doubling on nuclear revival bet
Central to that thesis is a small modular reactor design BWX (BWXT) shelved nearly a decade ago. Ananym argues that shifting market dynamics, particularly the growing appetite for reliable, low-carbon energy from data centers, could make the design commercially viable today.
Based in Lynchburg, Virginia, BWX Technologies is valued at roughly $19 billion and is best known for supplying nuclear reactors to the U.S. Navy. It also manufactures key components for commercial nuclear projects and produces radioisotopes used in medical diagnostics and treatment.
The company’s stock has surged nearly 93% over the past year, closing at $206.83 on Tuesday. That rally reflects a mix of rising defense budgets, increased investment in nuclear power, expanding energy needs and continued growth in nuclear medicine.
Even if the company sticks to its current role as a supplier to large-scale reactors and certain small modular reactor segments, the firm estimates the stock could gain about 45%.
However, the bigger opportunity may lie in developing its own pressurized water small modular reactor technology, either independently or through a partnership. With no dominant player yet established in that niche, Ananym believes BWX could capture significant market share and drive further upside in its valuation.
In the early 2010s, BWXT (then part of Babcock & Wilcox) developed a 180-MW SMR called mPower. It was a Pressurized Water Reactor (PWR) design, which is the “gold standard” for the U.S. Navy—BWXT’s primary customer.
What happened: Due to a lack of customers at the time and the high cost of the licensing process, BWXT effectively shelved the project around 2014–2017 to focus on their core defense business.
Link to Seeking Alpha News Article - May 13, 2026
WealthWise Research - May 13, 2026
Local Bounti GAAP EPS of -$0.53, revenue of $13.33M (+15%)
Net loss decreased to $12.7 million in the first quarter of 2026 as compared to net loss of $37.7 million for the prior year period, primarily due to a $14.8 million reduction in net interest expense resulting from the debt restructuring activities the Company completed in the first quarter of 2025.
Adjusted EBITDA loss improved 35% to $5.7 million, as compared to a loss of $8.8 million in the prior year period.
“Each of our 3 state-of-the-art facilities continues to operate at full harvestable capacity, with our entire run rate capacity committed to customers.” (CEO Valiasek)
“The 2 new retail accounts we announced last quarter have launched. The first is a 6-SKU placement with a large premier retail customer, covering more than 250 stores. The second is a large regional retailer.” (CEO Valiasek)
Link to Seeking Alpha News Article - May 13, 2026
Link to Seeking Alpha News Article - May 13, 2026
Enovix Non-GAAP EPS of -$0.14 beats by $0.02, revenue of $7.6M (+49.0% Y/Y) beats by $0.65M
Management highlighted progress toward qualifying its batteries for smartphone use, a key milestone for unlocking large-scale revenue.
“Smartphones remain our priority as we advance toward completing qualification with our lead customer and prepare for commercial production for the most demanding market in consumer electronics,” Chief Executive Raj Talluri said in the earnings announcement.
However, the company acknowledged that the qualification process has taken longer than expected, and final timing still depends on extended testing and customer validation.
Enovix (ENVX) is expanding beyond smartphones into smart eyewear, drones and defense systems, where demand for high-performance batteries is rising.
The company has begun early production of batteries for smart eyewear and expects to produce about 50,000 units in 2026.
It also introduced its MX-1 platform for drones and defense applications, targeting markets that require rugged, high-energy-density batteries.
Its pipeline for products manufactured in Korea now exceeds $130 million, driven largely by drone-related demand.
“commercial production of our A1 battery” for smart eyewear and said “initial shipments are underway with production expected to ramp through the second half of the year” (President, CEO & Director Talluri).
“On smartphones, we aligned with Honor on an updated qualification framework designed specifically for silicon-anode batteries” (President, CEO & Director Talluri), adding that a second smartphone OEM “will need to adapt a similar testing framework” and that the “0.7C test” was removed as a gating requirement in favor of updated protocols (President, CEO & Director Talluri).
Mark Shooter, William Blair: Asked about Honor field-testing volumes and a 2027 ramp; President, CEO & Director Talluri said “it’s hard to predict the number of units” and “they’ll be small,” adding “the real volume will be in ‘27” and later suggested “thousands” for system tests.
Mark Shooter, William Blair: Asked about drone qualification times and capacity; President, CEO & Director Talluri said “the qualification time will be shorter than things like smartphones” and emphasized “this is also an NDAA-compliant cell,” while Chief Financial Officer Benton said the company is “already spending dollars to add equipment” and noted “multiple empty buildings” for staged expansion.
Colin Rusch, Oppenheimer: Asked about Fab2 yield learning cycles; President, CEO & Director Talluri said “Yields in most production zones are now nearing or exceeding 90%” and “the laser light is kind of in the 80% range,” while outlining plans to get the “mechanical dicer” online “this year.”
Link to Seeking Alpha News Article - May 13, 2026
Link to Seeking Alpha News Article - May 13, 2026
Link to Seeking Alpha News Article - May 14, 2026
Spire GAAP EPS of -$0.78 misses by $0.09, revenue of $15.83M (-33.8% Y/Y) beats by $0.75M
CEO, President & Director Theresa Condor said, “Our 50% full year growth guidance is unchanged” and reiterated the setup as “second half-weighted.”
Condor highlighted capacity and scaling claims: “We have launched more than 240 satellites across more than 40 campaigns, and we have reserved launch capacity through 2028,” and “We have operational scaled transatlantic manufacturing with production facilities in the U.S., Europe and the U.K.”
CFO, Principal Financial Officer & Principal Accounting Officer Alison Engel said, “We are maintaining our full year 2026 guidance” with “revenue... $75 million to $85 million,” “full year adjusted EBITDA... negative $26 million to negative $20.7 million,” and “full year non-GAAP loss per share... negative $0.93 and negative $0.79 per share on approximately 37.9 million shares.”
Link to Seeking Alpha News Article - May 13, 2026
POET Technologies surges after unveiling AI infrastructure deal worth up to $500M
POET Technologies (POET) shares surged more than 24% in premarket trading on Thursday after it unveiled a deal with Lumilens for optical networking that could be worth $500M over the life of the agreement.
Lumilens has placed an initial purchase order with POET for the manufacturing of electrical-optical interposer-based engines for $50M. The deal could eventually result in purchases worth $500M or more over a period of five years, POET said in a statement.
In conjunction with the supply deal, POET granted a warrant to purchase up to 22.92M common shares. The warrant is exercisable over nine years at an exercise price of $8.25 per share.
“GPU interconnects are emerging as the defining bottleneck for scaling AI, and addressing it requires rethinking the full optical stack — silicon, photonics, and packaging — together,” said Lumilens CEO and founder Ankur Singla. “This joint development partnership with POET combines Lumilens’ next-generation chipset and advanced optical manufacturing capabilities with wafer-level photonic integration to build a clear path to the performance, density, and economics that frontier AI deployments will demand over the next decade.”
Engineering samples from the agreement are expected later this year and shipments to hyperscalers are expected to ramp in 2027.
POET Technologies GAAP EPS of -$0.08 misses by $0.03, revenue of $0.5M (+194.1% Y/Y) beats by $0.25M
Link to Seeking Alpha News Article - May 14, 2026
Link to Seeking Alpha News Article - May 14, 2026
Tower Semiconductor sees bullish views at Susquehanna after Q1 results
“Updating estimates to reflect TSEM’s recent results, outlook, planned capacity expansion, and revised L-T revenue/OM [operating margin] targets. We now expect the company to exit 2027 at an annualized EPS of ~$7, rising to ~$8 by the end of 2028, with prospects of upside beyond these levels,” said analysts led by Mehdi Hosseini.
The analysts noted that Tower continues to execute on the radio frequency, or RF, infrastructure ramp (including Silicon Photonics, or SiPh, and Silicon Germanium, or SiGe), with first quarter 2026 results and the guidance both exceeding consensus.
Link to Seeking Alpha News Article - May 14, 2026
Ondas 23% rally hints more upside: What’s Q1 beat & $457M backlog signaling?
The company reported Q1 revenue of $50.1M, up more than 10x from last year and 66% higher sequentially, as demand accelerated for its autonomous drone, counter-drone, and robotics platforms.
It ended the quarter with a pro forma backlog of $457M, sharply higher than $68.3M in Q4 2025, signaling strong future revenue visibility and supporting the recent momentum in Ondas’s stock price.
Management now expects at least ~$390M in 2026 revenue, representing ~670% growth from 2025. While EBITDA losses are expected to stay elevated near term due to aggressive expansion, the company finished Q1 with a ~$1.48B cash position.
“Following the closing of the World View and Mistral acquisitions in April, backlog increased to more than $450 million.” (Chairman, CEO & President Brock)
Link to Seeking Alpha News Article - May 14, 2026
Link to Seeking Alpha News Article - May 14, 2026
Cerebras hits market with near record-setting price as shares open at $350
Shares climbed to $385 just moments after going live, which prompted a temporary halt in trading. By the closing bell, shares had settled at $311.
The company’s flagship technology includes the Wafer-Scale Engine 3, or WSE-3, which it contends is the fastest commercialized AI processor in the world. The company claims it is 58 times larger than the leading GPU chip. It uses a fraction of the power per unit of compute while delivering inference up to 15 times faster than leading GPU-based solutions offered by competitor Nvidia (NVDA), Cerebras said.
Cerebras was founded in 2015. In 2025, it recorded revenue of $510M, which represented a 76% increase from the year prior. Its 2025 net income was $237.8M compared to a net loss of $481.6M in 2014. It has a backlog of $24.6B. Its gross margin has improved from 12% in 2022 to 39% by 2026.
Last month, it secured a $20B deal with OpenAI (OPENAI) to provide servers powered by its AI chips over the next three years. And in March, it announced a collaboration with Amazon (AMZN) to deploy a new AI data center solution designed to increase inference speed.
Link to Seeking Alpha News Article - May 14, 2026
#BTC #ETH
[Newsletter Exclusive] Republican-led Senate Banking Committee advances crypto bill
The U.S. Senate Banking Committee has advanced the landmark cryptocurrency legislation to the full Senate for its vote, with the bill now expected to see a fierce lobbying fight, Reuters reported.
The bill, which aims to create clear regulations for cryptocurrencies, was said to have been stalled in the Senate Banking Committee since January. Banks opposed a provision that would allow stablecoin issuers and crypto firms to offer yield-bearing products and other incentives that could draw deposits away from traditional banks, potentially making it harder for them to fund lending.
On May 1, Punchbowl News reported that Senator Thomas Tillis and Angela Alsobrooks finalized a compromise to restrict stablecoin yield and rewards, with the Senate looking toward a crypto mark up this month.
The Republican-led committee is said to have advanced the bill with support from two Democrats: Arizona Sen. Ruben Gallego and Maryland Sen. Alsobrooks. However, Gallego and Alsobrooks said they might not vote in favor of the bill on the Senate floor as negotiations between lawmakers remained fluid.
Committee Chair Republican Sen. Tim Scott has rejected certain outstanding amendments, including one on stablecoin yield, from Democrats, according to the report published on Thursday, May 14.
Link to Seeking Alpha News Article - May 14, 2026
Applied Materials Non-GAAP EPS of $2.86 beats by $0.18, revenue of $7.91B (+11.4% Y/Y) beats by $220M
Analysts had expected the company to earn an adjusted $2.68 per share on $7.67B in revenue.
China accounted for 27% of quarterly revenues to hit $2.087B, compared to $1.774B in the year-ago period.
Looking ahead, Applied Materials expects revenue to be between $8.45B and $9.45B, well above the $8.15B analysts had expected. Adjusted earnings are forecast to be between $3.16 and $3.56 per share, well above the $2.89 per share estimate.
“Looking ahead, we expect double-digit WFE [Wafer Fab Equipment] growth to sustain for the next 2-3 years driven by GenAI, extreme tightness in Memory, and reemerging competition in Advanced Foundry,” said RBC Capital Markets analysts led by Srini Pajjuri.
The analysts added that Applied Materials appears well-positioned given its leadership in DRAM/Advanced Logic and exposure to new technologies such as Gate-All-Around, or GAA, Backside Power Delivery, or BSP, and Four-F-Squared, or 4F^2 DRAM.
The analysts said that Applied Materials’ management noted that more than 10 new fab projects were added to its tracked pipeline of over 100 globally in just the past 90 days.
Link to Seeking Alpha News Article - May 14, 2026
Link to Seeking Alpha News Article - May 14, 2026
Link to Seeking Alpha News Article - May 15, 2026
Vertiv initiated Buy at Loop Capital as underappreciated data center innovation leader
Loop analyst Ananda Baruah says Vertiv (VRT) remains “an underappreciated leader” in data center power and cooling innovation, and now is “just the beginning for this best-of-breed technology innovator” that has “built its purpose-built ‘fly-wheel’ just as the industry enters the front-end of a legitimate AI infrastructure super-cycle.”
Baruah believes Vertiv’s (VRT) AI data center revenue opportunity is increasing seven-fold during 2023-28 “as we’re at the very front end of an AI super-cycle... and folks don’t truly realize it.”
Vertiv (VRT) is actually “a technology company that expresses itself via industrial gear,” Baruah wrote, where innovation is “the name of the game... and “it is this commitment that continues to create an amplifying competitive moat”; she sees the industry reacting to Vertiv’s moves while the company “continues to both lean into and benefit from the aforementioned fly-wheel effect.”
Link to Seeking Alpha News Article - May 15, 2026
Disclosure: We own positions in some/all of the tickers mentioned in this article.
