Tiernan Ray
@tiernanray.bsky.social
Tiernan Ray is editor and publisher of The Technology Letter, a newsletter advising on tech stock investment, at www.thetechnologyletter.com, and has covered techn and business for thirty years. Also ZDNet AI reporter: https://bit.ly/3ZBYJo4
What’s the off-take, Jensen?
Nvidia’s CEO used a project financing term to reassure the Street his GPU sales are pretty much guaranteed. For the moment, that’s enough for most.
www.thetechnologyletter.com/the-posts/wh...
$NVDA
Nvidia’s CEO used a project financing term to reassure the Street his GPU sales are pretty much guaranteed. For the moment, that’s enough for most.
www.thetechnologyletter.com/the-posts/wh...
$NVDA
November 21, 2025 at 6:04 PM
What’s the off-take, Jensen?
Nvidia’s CEO used a project financing term to reassure the Street his GPU sales are pretty much guaranteed. For the moment, that’s enough for most.
www.thetechnologyletter.com/the-posts/wh...
$NVDA
Nvidia’s CEO used a project financing term to reassure the Street his GPU sales are pretty much guaranteed. For the moment, that’s enough for most.
www.thetechnologyletter.com/the-posts/wh...
$NVDA
Faced with rising investor concerns about “circular” financing and inflated spending in AI, Nvidia’s CEO, Jensen Huang, failed to address the concerns, instead talking about how great his company’s products are.
www.thetechnologyletter.com/the-posts/nv...
www.thetechnologyletter.com/the-posts/nv...
November 20, 2025 at 3:56 PM
Faced with rising investor concerns about “circular” financing and inflated spending in AI, Nvidia’s CEO, Jensen Huang, failed to address the concerns, instead talking about how great his company’s products are.
www.thetechnologyletter.com/the-posts/nv...
www.thetechnologyletter.com/the-posts/nv...
Wall Street’s Best Ideas: The ROI on AI is even worse than you think
At least one Street observer says it is time to call the bluff on all of Mega-Cap Tech’s gigantic AI spending plans.
www.thetechnologyletter.com/the-posts/wa...
$AMZN $MSFT $GOOGL $NVDA
At least one Street observer says it is time to call the bluff on all of Mega-Cap Tech’s gigantic AI spending plans.
www.thetechnologyletter.com/the-posts/wa...
$AMZN $MSFT $GOOGL $NVDA
November 19, 2025 at 6:58 PM
Wall Street’s Best Ideas: The ROI on AI is even worse than you think
At least one Street observer says it is time to call the bluff on all of Mega-Cap Tech’s gigantic AI spending plans.
www.thetechnologyletter.com/the-posts/wa...
$AMZN $MSFT $GOOGL $NVDA
At least one Street observer says it is time to call the bluff on all of Mega-Cap Tech’s gigantic AI spending plans.
www.thetechnologyletter.com/the-posts/wa...
$AMZN $MSFT $GOOGL $NVDA
The TL Podcast for November 17th: Earnings winners that kept on winning
Western Digital and SanDisk are among the winners this earnings season that went on to gain even more following upbeat reports.
www.thetechnologyletter.com/the-posts/th...
$WDC $SNDK
Western Digital and SanDisk are among the winners this earnings season that went on to gain even more following upbeat reports.
www.thetechnologyletter.com/the-posts/th...
$WDC $SNDK
November 17, 2025 at 5:04 PM
The TL Podcast for November 17th: Earnings winners that kept on winning
Western Digital and SanDisk are among the winners this earnings season that went on to gain even more following upbeat reports.
www.thetechnologyletter.com/the-posts/th...
$WDC $SNDK
Western Digital and SanDisk are among the winners this earnings season that went on to gain even more following upbeat reports.
www.thetechnologyletter.com/the-posts/th...
$WDC $SNDK
Wall Street’s Best Ideas: DigitalOcean’s next big opportunity
The turnaround appears to be happening at DigitalOcean, but the more interesting prospect is a big market for artificial intelligence “inference.”
www.thetechnologyletter.com/the-posts/wa...
$DOCN
The turnaround appears to be happening at DigitalOcean, but the more interesting prospect is a big market for artificial intelligence “inference.”
www.thetechnologyletter.com/the-posts/wa...
$DOCN
November 11, 2025 at 2:32 PM
Wall Street’s Best Ideas: DigitalOcean’s next big opportunity
The turnaround appears to be happening at DigitalOcean, but the more interesting prospect is a big market for artificial intelligence “inference.”
www.thetechnologyletter.com/the-posts/wa...
$DOCN
The turnaround appears to be happening at DigitalOcean, but the more interesting prospect is a big market for artificial intelligence “inference.”
www.thetechnologyletter.com/the-posts/wa...
$DOCN
CoreWeave will make it all back, they say
Shares of AI hosting firm CoreWeave dropped eight percent because of delays in building out data center capacity. Bull and bear agree that business will return in future quarters.
www.thetechnologyletter.com/the-posts/co...
$CRWV
Shares of AI hosting firm CoreWeave dropped eight percent because of delays in building out data center capacity. Bull and bear agree that business will return in future quarters.
www.thetechnologyletter.com/the-posts/co...
$CRWV
November 11, 2025 at 2:27 PM
CoreWeave will make it all back, they say
Shares of AI hosting firm CoreWeave dropped eight percent because of delays in building out data center capacity. Bull and bear agree that business will return in future quarters.
www.thetechnologyletter.com/the-posts/co...
$CRWV
Shares of AI hosting firm CoreWeave dropped eight percent because of delays in building out data center capacity. Bull and bear agree that business will return in future quarters.
www.thetechnologyletter.com/the-posts/co...
$CRWV
What’s working now: Innodata, JFrog, SanDisk
Things that are working this earnings season include software names tied to the artificial intelligence trade, including Innodata and JFrog, and memory-chip technology such as SanDisk.
www.thetechnologyletter.com/the-posts/wh...
$INOD $SNDK $FROG
Things that are working this earnings season include software names tied to the artificial intelligence trade, including Innodata and JFrog, and memory-chip technology such as SanDisk.
www.thetechnologyletter.com/the-posts/wh...
$INOD $SNDK $FROG
November 7, 2025 at 6:42 PM
What’s working now: Innodata, JFrog, SanDisk
Things that are working this earnings season include software names tied to the artificial intelligence trade, including Innodata and JFrog, and memory-chip technology such as SanDisk.
www.thetechnologyletter.com/the-posts/wh...
$INOD $SNDK $FROG
Things that are working this earnings season include software names tied to the artificial intelligence trade, including Innodata and JFrog, and memory-chip technology such as SanDisk.
www.thetechnologyletter.com/the-posts/wh...
$INOD $SNDK $FROG
Coherent surges, Figma regains a bit of ground
Coherent surges after its results and outlook show similar data center and AI payoff as Lumentum.
www.thetechnologyletter.com/the-posts/co...
$COHR $LITE $FIG $DDOG
Coherent surges after its results and outlook show similar data center and AI payoff as Lumentum.
www.thetechnologyletter.com/the-posts/co...
$COHR $LITE $FIG $DDOG
November 6, 2025 at 5:13 PM
Coherent surges, Figma regains a bit of ground
Coherent surges after its results and outlook show similar data center and AI payoff as Lumentum.
www.thetechnologyletter.com/the-posts/co...
$COHR $LITE $FIG $DDOG
Coherent surges after its results and outlook show similar data center and AI payoff as Lumentum.
www.thetechnologyletter.com/the-posts/co...
$COHR $LITE $FIG $DDOG
Quantinuum plays to packed crowd at Nasdaq
Quantinuum, a division of Honeywell International, drew a big crowd at Nasdaq on Wednesday to talk up its newest machine, “Helios,” which it says has industry-leading “fidelity.”
www.thetechnologyletter.com/the-posts/qu...
$HON $IONQ $QBTS $RGTI
Quantinuum, a division of Honeywell International, drew a big crowd at Nasdaq on Wednesday to talk up its newest machine, “Helios,” which it says has industry-leading “fidelity.”
www.thetechnologyletter.com/the-posts/qu...
$HON $IONQ $QBTS $RGTI
November 6, 2025 at 5:02 PM
Quantinuum plays to packed crowd at Nasdaq
Quantinuum, a division of Honeywell International, drew a big crowd at Nasdaq on Wednesday to talk up its newest machine, “Helios,” which it says has industry-leading “fidelity.”
www.thetechnologyletter.com/the-posts/qu...
$HON $IONQ $QBTS $RGTI
Quantinuum, a division of Honeywell International, drew a big crowd at Nasdaq on Wednesday to talk up its newest machine, “Helios,” which it says has industry-leading “fidelity.”
www.thetechnologyletter.com/the-posts/qu...
$HON $IONQ $QBTS $RGTI
Why is Palantir so damned expensive? I’m glad you asked.
Why buy Palantir when there’s Nvidia?
Palantir has scarcity value for investors given a high rate of growth, the result of being the Costco or Home Depot of AI.
www.thetechnologyletter.com/the-posts/wh...
Why buy Palantir when there’s Nvidia?
Palantir has scarcity value for investors given a high rate of growth, the result of being the Costco or Home Depot of AI.
www.thetechnologyletter.com/the-posts/wh...
November 4, 2025 at 2:02 PM
Why is Palantir so damned expensive? I’m glad you asked.
Why buy Palantir when there’s Nvidia?
Palantir has scarcity value for investors given a high rate of growth, the result of being the Costco or Home Depot of AI.
www.thetechnologyletter.com/the-posts/wh...
Why buy Palantir when there’s Nvidia?
Palantir has scarcity value for investors given a high rate of growth, the result of being the Costco or Home Depot of AI.
www.thetechnologyletter.com/the-posts/wh...
Wall Street’s Best Ideas: Nvidia’s half-trillion
Nvidia’s CEO, Jensen Huang, told Washington, D.C. that he’s got half a trillion dollars in orders for AI chips in the bag. How much of that is linked to OpenAI’s unfunded promises?
www.thetechnologyletter.com/the-posts/wa...
$NVDA
Nvidia’s CEO, Jensen Huang, told Washington, D.C. that he’s got half a trillion dollars in orders for AI chips in the bag. How much of that is linked to OpenAI’s unfunded promises?
www.thetechnologyletter.com/the-posts/wa...
$NVDA
October 29, 2025 at 6:38 PM
Wall Street’s Best Ideas: Nvidia’s half-trillion
Nvidia’s CEO, Jensen Huang, told Washington, D.C. that he’s got half a trillion dollars in orders for AI chips in the bag. How much of that is linked to OpenAI’s unfunded promises?
www.thetechnologyletter.com/the-posts/wa...
$NVDA
Nvidia’s CEO, Jensen Huang, told Washington, D.C. that he’s got half a trillion dollars in orders for AI chips in the bag. How much of that is linked to OpenAI’s unfunded promises?
www.thetechnologyletter.com/the-posts/wa...
$NVDA
Bloom zooms, Teradyne and Corning rise on data center demand
Tuesday brought three stars of surging AI and data center demand, Bloom Energy, Teradyne, and Corning, all profiting from the AI trade.
www.thetechnologyletter.com/the-posts/bl...
$BE $TER $GLW $CFLT $CHKP
Tuesday brought three stars of surging AI and data center demand, Bloom Energy, Teradyne, and Corning, all profiting from the AI trade.
www.thetechnologyletter.com/the-posts/bl...
$BE $TER $GLW $CFLT $CHKP
October 29, 2025 at 6:34 PM
Bloom zooms, Teradyne and Corning rise on data center demand
Tuesday brought three stars of surging AI and data center demand, Bloom Energy, Teradyne, and Corning, all profiting from the AI trade.
www.thetechnologyletter.com/the-posts/bl...
$BE $TER $GLW $CFLT $CHKP
Tuesday brought three stars of surging AI and data center demand, Bloom Energy, Teradyne, and Corning, all profiting from the AI trade.
www.thetechnologyletter.com/the-posts/bl...
$BE $TER $GLW $CFLT $CHKP
Wall Street’s Best Ideas: Street gushes over revenue-less Fermi
Startup data center supplier Fermi America, just nine months old, has no revenue and no contracts, but the analysts initiating coverage of it on Monday are charmed.
www.thetechnologyletter.com/the-posts/wa...
$FRMI
Startup data center supplier Fermi America, just nine months old, has no revenue and no contracts, but the analysts initiating coverage of it on Monday are charmed.
www.thetechnologyletter.com/the-posts/wa...
$FRMI
October 28, 2025 at 2:16 PM
Wall Street’s Best Ideas: Street gushes over revenue-less Fermi
Startup data center supplier Fermi America, just nine months old, has no revenue and no contracts, but the analysts initiating coverage of it on Monday are charmed.
www.thetechnologyletter.com/the-posts/wa...
$FRMI
Startup data center supplier Fermi America, just nine months old, has no revenue and no contracts, but the analysts initiating coverage of it on Monday are charmed.
www.thetechnologyletter.com/the-posts/wa...
$FRMI
Wall Street’s Best Ideas: Street fight over NuScale
One analyst upgrades, two others downgrade — this is what makes a market.
www.thetechnologyletter.com/the-posts/wa...
$SMR $OKLO $NNE
One analyst upgrades, two others downgrade — this is what makes a market.
www.thetechnologyletter.com/the-posts/wa...
$SMR $OKLO $NNE
October 27, 2025 at 12:57 PM
Wall Street’s Best Ideas: Street fight over NuScale
One analyst upgrades, two others downgrade — this is what makes a market.
www.thetechnologyletter.com/the-posts/wa...
$SMR $OKLO $NNE
One analyst upgrades, two others downgrade — this is what makes a market.
www.thetechnologyletter.com/the-posts/wa...
$SMR $OKLO $NNE
Please enjoy my interview with Samsara CEO Sanjit Biswas
Samsara CEO: The logic of business expansion
“If we believe it can be relevant to, hopefully, thousands of other customers who also have big vehicles, then we’ll do it."
$IOT
www.thetechnologyletter.com/the-posts/wa...
Samsara CEO: The logic of business expansion
“If we believe it can be relevant to, hopefully, thousands of other customers who also have big vehicles, then we’ll do it."
$IOT
www.thetechnologyletter.com/the-posts/wa...
October 27, 2025 at 12:48 PM
Please enjoy my interview with Samsara CEO Sanjit Biswas
Samsara CEO: The logic of business expansion
“If we believe it can be relevant to, hopefully, thousands of other customers who also have big vehicles, then we’ll do it."
$IOT
www.thetechnologyletter.com/the-posts/wa...
Samsara CEO: The logic of business expansion
“If we believe it can be relevant to, hopefully, thousands of other customers who also have big vehicles, then we’ll do it."
$IOT
www.thetechnologyletter.com/the-posts/wa...
Tesla’s numbers underwhelm, cue the robots again
Even bulls on Tesla shares realize record numbers of car sales are not that exciting a prospect. Something else is needed, but the chance of it being an “Optimus” robot is not likely anytime soon.
www.thetechnologyletter.com/the-posts/te...
$TSLA
Even bulls on Tesla shares realize record numbers of car sales are not that exciting a prospect. Something else is needed, but the chance of it being an “Optimus” robot is not likely anytime soon.
www.thetechnologyletter.com/the-posts/te...
$TSLA
October 23, 2025 at 10:15 PM
Tesla’s numbers underwhelm, cue the robots again
Even bulls on Tesla shares realize record numbers of car sales are not that exciting a prospect. Something else is needed, but the chance of it being an “Optimus” robot is not likely anytime soon.
www.thetechnologyletter.com/the-posts/te...
$TSLA
Even bulls on Tesla shares realize record numbers of car sales are not that exciting a prospect. Something else is needed, but the chance of it being an “Optimus” robot is not likely anytime soon.
www.thetechnologyletter.com/the-posts/te...
$TSLA
The TL Podcast for October 21st: A big surge in the TL20
Since the September rebalancing, the TL20 stocks to consider are up an average of twenty-one percent. No reason to panic, but good to understand the elevated risk.
www.thetechnologyletter.com/the-posts/th...
$APH $ASML
Since the September rebalancing, the TL20 stocks to consider are up an average of twenty-one percent. No reason to panic, but good to understand the elevated risk.
www.thetechnologyletter.com/the-posts/th...
$APH $ASML
October 23, 2025 at 10:13 PM
The TL Podcast for October 21st: A big surge in the TL20
Since the September rebalancing, the TL20 stocks to consider are up an average of twenty-one percent. No reason to panic, but good to understand the elevated risk.
www.thetechnologyletter.com/the-posts/th...
$APH $ASML
Since the September rebalancing, the TL20 stocks to consider are up an average of twenty-one percent. No reason to panic, but good to understand the elevated risk.
www.thetechnologyletter.com/the-posts/th...
$APH $ASML
Vertiv shines, Netflix needs something new
Netflix had a big surge in the pandemic period, then a slump in growth, and then a nice re-acceleration. The re-acceleration part is now over, so, advertising revenue better deliver next year.
www.thetechnologyletter.com/the-posts/ve...
$NFLX $VRT
Netflix had a big surge in the pandemic period, then a slump in growth, and then a nice re-acceleration. The re-acceleration part is now over, so, advertising revenue better deliver next year.
www.thetechnologyletter.com/the-posts/ve...
$NFLX $VRT
October 23, 2025 at 9:54 PM
Vertiv shines, Netflix needs something new
Netflix had a big surge in the pandemic period, then a slump in growth, and then a nice re-acceleration. The re-acceleration part is now over, so, advertising revenue better deliver next year.
www.thetechnologyletter.com/the-posts/ve...
$NFLX $VRT
Netflix had a big surge in the pandemic period, then a slump in growth, and then a nice re-acceleration. The re-acceleration part is now over, so, advertising revenue better deliver next year.
www.thetechnologyletter.com/the-posts/ve...
$NFLX $VRT
Enjoy this free article if you’re not currently a subscriber to The Technology Letter.
Quantum computing: Not even close
What quantum computing needs to be real is almost entirely in PowerPoint at this time.
www.thetechnologyletter.com/public/quant...
$IONQ $RGTI $QBTS
Quantum computing: Not even close
What quantum computing needs to be real is almost entirely in PowerPoint at this time.
www.thetechnologyletter.com/public/quant...
$IONQ $RGTI $QBTS
October 20, 2025 at 3:55 PM
Enjoy this free article if you’re not currently a subscriber to The Technology Letter.
Quantum computing: Not even close
What quantum computing needs to be real is almost entirely in PowerPoint at this time.
www.thetechnologyletter.com/public/quant...
$IONQ $RGTI $QBTS
Quantum computing: Not even close
What quantum computing needs to be real is almost entirely in PowerPoint at this time.
www.thetechnologyletter.com/public/quant...
$IONQ $RGTI $QBTS
Wall Street’s Best Ideas: ASML also loves this OpenAI boom
ASML is the latest chip firm to sing the gospel of massive AI chip orders. Can we believe CEO Christophe Fouquet when he says it’s enough to boost his company for years to come?
www.thetechnologyletter.com/the-posts/wa...
$ASML $APH $VRT
ASML is the latest chip firm to sing the gospel of massive AI chip orders. Can we believe CEO Christophe Fouquet when he says it’s enough to boost his company for years to come?
www.thetechnologyletter.com/the-posts/wa...
$ASML $APH $VRT
October 16, 2025 at 1:01 PM
Wall Street’s Best Ideas: ASML also loves this OpenAI boom
ASML is the latest chip firm to sing the gospel of massive AI chip orders. Can we believe CEO Christophe Fouquet when he says it’s enough to boost his company for years to come?
www.thetechnologyletter.com/the-posts/wa...
$ASML $APH $VRT
ASML is the latest chip firm to sing the gospel of massive AI chip orders. Can we believe CEO Christophe Fouquet when he says it’s enough to boost his company for years to come?
www.thetechnologyletter.com/the-posts/wa...
$ASML $APH $VRT
Wall Street’s Best Ideas: AMD ties its stock price to OpenAI deal
The mind reels at the kind of equity warrants-for-sales deal Advanced Micro Devices just announced with OpenAI.
www.thetechnologyletter.com/the-posts/wa...
$AMD $NVDA
The mind reels at the kind of equity warrants-for-sales deal Advanced Micro Devices just announced with OpenAI.
www.thetechnologyletter.com/the-posts/wa...
$AMD $NVDA
October 6, 2025 at 6:27 PM
Wall Street’s Best Ideas: AMD ties its stock price to OpenAI deal
The mind reels at the kind of equity warrants-for-sales deal Advanced Micro Devices just announced with OpenAI.
www.thetechnologyletter.com/the-posts/wa...
$AMD $NVDA
The mind reels at the kind of equity warrants-for-sales deal Advanced Micro Devices just announced with OpenAI.
www.thetechnologyletter.com/the-posts/wa...
$AMD $NVDA
I spoke with Cullen Rogers about how the IVES fund has seen tremendous inflows in the span of only four months. It’s a bit of a different structure for an ETF…
IVES ETF hits three quarters of a billion in four months
www.thetechnologyletter.com/the-posts/iv...
$IVES
IVES ETF hits three quarters of a billion in four months
www.thetechnologyletter.com/the-posts/iv...
$IVES
October 4, 2025 at 5:59 PM
I spoke with Cullen Rogers about how the IVES fund has seen tremendous inflows in the span of only four months. It’s a bit of a different structure for an ETF…
IVES ETF hits three quarters of a billion in four months
www.thetechnologyletter.com/the-posts/iv...
$IVES
IVES ETF hits three quarters of a billion in four months
www.thetechnologyletter.com/the-posts/iv...
$IVES
For those of you who like to know in advance what companies may be coming to market… Please enjoy my interview with Cohesity CEO Sanjay Poonen.
Cohesity could be one of next year’s big IPOs
www.thetechnologyletter.com/the-posts/co...
Cohesity could be one of next year’s big IPOs
www.thetechnologyletter.com/the-posts/co...
October 4, 2025 at 5:58 PM
For those of you who like to know in advance what companies may be coming to market… Please enjoy my interview with Cohesity CEO Sanjay Poonen.
Cohesity could be one of next year’s big IPOs
www.thetechnologyletter.com/the-posts/co...
Cohesity could be one of next year’s big IPOs
www.thetechnologyletter.com/the-posts/co...
Quantum computing: Not even close
What quantum computing needs to be real is almost entirely in PowerPoint at this time.
www.thetechnologyletter.com/the-posts/qu...
$IONQ $RGTI $QBTS $NVDA
What quantum computing needs to be real is almost entirely in PowerPoint at this time.
www.thetechnologyletter.com/the-posts/qu...
$IONQ $RGTI $QBTS $NVDA
October 2, 2025 at 1:23 PM
Quantum computing: Not even close
What quantum computing needs to be real is almost entirely in PowerPoint at this time.
www.thetechnologyletter.com/the-posts/qu...
$IONQ $RGTI $QBTS $NVDA
What quantum computing needs to be real is almost entirely in PowerPoint at this time.
www.thetechnologyletter.com/the-posts/qu...
$IONQ $RGTI $QBTS $NVDA
Wall Street’s Best Ideas: Nothing fazes this AI market
The enormous sums of money being thrown around by Nvidia, OpenAI, Oracle, the SPACs, etc., do not deter enthusiasm for the AI trade, nor do the shifting sands of D.C. policy.
www.thetechnologyletter.com/the-posts/wa...
$NVDA $AVGO
The enormous sums of money being thrown around by Nvidia, OpenAI, Oracle, the SPACs, etc., do not deter enthusiasm for the AI trade, nor do the shifting sands of D.C. policy.
www.thetechnologyletter.com/the-posts/wa...
$NVDA $AVGO
September 30, 2025 at 1:07 AM
Wall Street’s Best Ideas: Nothing fazes this AI market
The enormous sums of money being thrown around by Nvidia, OpenAI, Oracle, the SPACs, etc., do not deter enthusiasm for the AI trade, nor do the shifting sands of D.C. policy.
www.thetechnologyletter.com/the-posts/wa...
$NVDA $AVGO
The enormous sums of money being thrown around by Nvidia, OpenAI, Oracle, the SPACs, etc., do not deter enthusiasm for the AI trade, nor do the shifting sands of D.C. policy.
www.thetechnologyletter.com/the-posts/wa...
$NVDA $AVGO