AI value chain
Prices, operating performance and valuation — from materials and chips to infrastructure and applications.
Daily updates. Source delays vary; check the timestamp beside each quote.
Data updated:How to read this table— means unavailable, never zero.
Each quote keeps its source date and retained-value status. Market capitalization has a separate collection timestamp. A financial period end is not a filing date.
Amounts retain their original currencies; sorting groups currencies before comparing amounts. TTM and annual periods are labeled separately. Cross-currency and unsuitable business-model valuations remain blank.
Growth compares equivalent revenue periods. Margins divide same-period profit or cash flow by revenue. Cash flow less reported capital expenditure is an arithmetic proxy, not distributable cash; company-specific scope remains material.
CFO = operating cash flow. Cash conversion = CFO / positive net income. Capex intensity = capital expenditure / revenue. P/E = market cap / net income attributable to shareholders (loss when negative). P/S = market cap / revenue. FCF yield = applicable cash-flow proxy / market cap.
Data coverageResearch beyond the headline.
Primary sources. Independent thinking. A closer look at what changes next.
Research reports
Research membershipRiot Platforms (RIOT) Deep Research — Bilingual Edition
1st edition · EN + ZH PDFs · 26 figures, 109 tables · three-horizon view · fully derived target · two review rounds
FormFactor (FORM) Deep Research — Bilingual Edition
1st edition · EN + ZH PDFs · 33 figures, 128 tables · three-horizon view · fully derived target · three review rounds
Applied Optoelectronics (AAOI) Deep Research — Bilingual Edition
1st edition · EN + ZH PDFs · 40 figures, 151 tables · three-horizon view · fully derived target · three review rounds
IREN (IREN) Deep Research — Bilingual Edition
1st edition · EN + ZH PDFs · 12 figures, 60 tables · three-horizon view · fully derived target · two audit rounds
TeraWulf (WULF) Deep Research — Bilingual Edition
1st edition · EN + ZH PDFs · 12 figures, 56 tables · three-horizon view · fully derived target · four-track audit
Vertiv (VRT) Deep Research — Bilingual Edition
3rd edition · EN + ZH PDFs · 19 figures, 31 tables · three-horizon view · fully derived target
Latest insights
Latest insightsVICON-BCI: A Future Neural Interface Through the Vascular System
A future BCI concept combining vascular access, soft materials, optical links and a wearable interface, with user control and a credible path to retirement.
Galaxy Digital (GLXY): Helios returns and shareholder value
GLXY research on Helios lease returns, completion funding, 2031 refinancing and equity ownership, testing the operating assumptions behind a $16.93 reference price.
Comfort Systems: What Sustained Project Margins Are Worth
A source-backed FIX deep dive: data-center demand, project margins, working capital and the growth required by valuation. Includes a reproducible model.
A Fragile Expansion: Growth, Inflation and the Repricing of Risk
Global macro research on uneven growth, inflation constraints, equity breadth, earnings and options pricing—and the evidence that would change our fragile-expansion thesis.
BinanceGrid Review: A Binance Futures Grid in MT5, and How to Read Its +18.9% With a 4.8% Drawdown
BinanceGrid is TopXEA's own MT5 EA for Binance USD-M futures on HYPE, LIT and ADA. This review covers how it trades, where the risk sits, how to read the backtest and who should not run it.
TopxAI Equity Research, an open-source agent skill: the method behind our reports
TopxAI Equity Research is a free, Apache-2.0 agent skill: numbers from primary SEC filings with a source and an evidence grade, a bull/bear debate before every rating, two adversarial audits, and a ledger that settles every call. The rules, the pipeline, what is in the package, how to install it, and what it does not do.