Finding the Signal

AI Networking - OCP Update

The recent news that both $META and $ORCL had selected $NVDA ’s Spectrum-X for their AI Ethernet fabric initially sent a shiver down my spine. On the surface, this looked like a significant blow to the incumbent leader, Arista Networks, and by extension, a major setback for the open-source Ultra Ethernet Consortium. Spooked by the headlines, I tasked Gemini with multiple deep-dive analyses to break down the implications for a non-technical AI investor like myself. I then used NotebookLM to turn it into a podcast. The results were surprising, revealing a far more nuanced picture that is not the bearish signal I first feared. If you are an investor in Arista $ANET , Astera Labs $ALAB , or Credo Technology $CRDO , I highly recommend you listen to the following breakdown to understand why this development may not be a threat to your thesis. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit notesonthenoise.substack.com [https://notesonthenoise.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

Arista Networks - Analyst Day Thoughts

$ANET hosted analysts recently and that market didn’t like what it heard. I think this dip is a buying opportunity. Here is a summary of my investment research generated with NotebookLM. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit notesonthenoise.substack.com [https://notesonthenoise.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

Micron - Breaking the Cycle?

$MU just raised its Q4 2025 guidance. This puts Micron at a 2025 P/E ratio of around 15. Is Micron an emerging leader in High Bandwidth Memory (HBM) for AI applications? Is the stock seriously undervalued against its AI peers? Or is this just another peak in the cyclicality of memory chips. Here is a summary of my investment research generated with NotebookLM. I’m more bullish than the price target stated here… This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit notesonthenoise.substack.com [https://notesonthenoise.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

Nebius - The AI Cloud Pure Play

$NBIS crushed earnings last week. Here is why they aren’t just another cloud company, and why they will outcompete in cloud AI. Here is a summary of my investment research generated with NotebookLM. (Ignore the price target - it’s way too low) This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit notesonthenoise.substack.com [https://notesonthenoise.substack.com?utm_medium=podcast&utm_campaign=CTA_1]

Lemonade is Reinventing Insurance

Lemonade $LMND isn’t new on the scene. But the insurance-tech company has started hitting some key milestones. Here is a summary of my investment research generated with NotebookLM. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit notesonthenoise.substack.com [https://notesonthenoise.substack.com?utm_medium=podcast&utm_campaign=CTA_1]