Damnang
· Damnang’s Substack
· May 14, 2026 at 00:27
· ⏱ 2 min read
| Read on Substack ↗
Summary
The author analyzes the AI power sector, noting that companies in the low-voltage tier have significantly outperformed those in the high-voltage tier. This outperformance is attributed to their proximity to GPU thermal design power (TDP), causing them to react to market and technological shifts first.
•Low-voltage tier companies in the AI power investment map have rallied the hardest among the 24 tracked companies.
•There is a greater than 10x return gap between the low-voltage and high-voltage tiers.
•Components closest to GPU TDP react first and overheat the fastest.