Every layer of the AI trade is now financially linked. • Upstream are the chipmakers like $NVDA, $TSM, $ASML, $AMD & $INTC. • Midstream are the compute utilities like $NBIS, $CRWV, $CIFR, $WULF, $GLXY, & $IREN. • Downstream are the model builders like $MSFT, $GOOGL, $AMZN & $META. It’s a closed loop now. Every dollar of AI revenue flows right back into power, chips & data centers. For the first time in tech history, the top & bottom of the stack move together in real time. Wild.