Chokepoints

Deepdiving investment opportunities in the chokepoints of AI.

Everyone's right about SK Hynix. That's the problem.

Jun 24, 2026

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14 min read

Everyone's right about SK Hynix. That's the problem.

Issue 002: SK Hynix (KRX:000660). We are the house bulls on memory, and we are not buying it here. The chokepoint is real, the moat is melting, and the price already pays for the peak. Our call: ACCUMULATE, patient.

Nebius: the AI cloud build-out, priced as if it already works

Jun 24, 2026

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10 min read

Nebius: the AI cloud build-out, priced as if it already works

Issue 001: Nebius Group (NBIS). Roughly $50bn of GPU contracts signed; the question is how fast it can build and fund the power behind them.

Jun 24, 2026

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3 min read

Welcome to Chokepoints

Issue 000: where the AI prize actually went, what chokepoints.ai maps, and why we bother.

TE Connectivity: the cheaper half of the AI-connector duopoly

Jun 24, 2026

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13 min read

TE Connectivity: the cheaper half of the AI-connector duopoly

Issue 003: TE Connectivity (NYSE:TEL). The number-two connector in the one duopoly AI cannot route around, trading at a 43% discount to its twin and below its own ten-year average. The catalyst is a re-rating. Our call: BUY, medium conviction.