All three are riding the AI megatrend and have strong revenue visibility beyond 2026. These companies are on the "frontline" when it comes to AI hardware. Data centers are being built out at a record pace, and is not the only company that is benefiting from it. The market is starting to move past NVDA stock and is pouring into other satellite AI beneficiaries who are seeing explosive upward momentum one after the other.
I explained to Lee that a 10 to 15 trillion dollar drawdown is plausible if the largest US technology names were to lose one third to one half of their value. The impact would not end with public companies. Once valuations on firms such as OpenAI reset, private market marks would shift even harder as investors already view them as priced above comparable public peers.
The table below shows the eye-opening results. Mobile developer job listings have plummeted more than 70% since ChatGPT came out. This could be because AI coding tools are making it easier for more people to develop apps themselves. Java developers are also in less demand. This programming language is often used for mobile apps. Cloud architects and engineering managers are also down a lot.
