To The Moon

The artificial intelligence bottleneck is the most important theme in the stock market, right now.That's the view of J.P. Morgan analysts, who said their bullish outlook on equities hinged on the AI momentum narrative.The bottleneck theme includes just a handful of companies with "the scale, expertise, and access to supply the critical components that keep the AI economy running," they added.Supply constraints are most acute in high-bandwidth memory chips, dominated by SK Hynix, Micron, and Samsung; photonics by Broadcom and Coherent; and cooling management, where they cited Vertiv and Modine. They also mentioned energy generation and grid infrastructure."These companies are not just suppliers, they are critical to the next phase of AI growth, with market power and technical barriers that are not easily overcome.". All of those stocks have enjoyed stellar gains so far this year--Micron and SK Hynix are up more than 200%, Samsung has jumped 190% and thermal technology company Modine has