I write BEP Research — system-level intelligence on AI infrastructure, semiconductors, memory architecture, optical interconnects, advanced packaging, and the companies building the physical layer of intelligence.
The full research hub lives at bepresearch.com, which includes The Stack — my live tokenomics tool tracking GPU cloud costs, inference margins, and AI infrastructure unit economics. Deep-dive essays publish on Substack; paid subscribers get the full analysis.
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Recent articles
Four Layers, One Moat: What Four AI Companies Taught Me This Week
April 17, 2026
Ben Pouladian analyzes: Ayar Labs, Tenstorrent, Databricks, and Wonder. Four companies at four altitudes. One playbook.
Oracle Just Signed the MSA Bloom Was Waiting For
April 13, 2026
Ben Pouladian analyzes: The market read 2.8 gigawatts. The structural read is that the warrant vested two business days early.
Credo Just Confirmed the Framework
April 13, 2026
Ben Pouladian analyzes: Same-day flash update to last night’s follow-up · Free post · Share widely
Credo Was the Wrong Question
April 12, 2026
Ben Pouladian analyzes: A reader correction, an on-camera primary source from NVIDIA’s networking SVP, and a Jefferies BUY initiation that all landed in the same Sunday. The Credo bear case has bee…
Sold Out Through 2028: Hurlston’s Tokyo Interview and the Optical Cold War
April 10, 2026
Ben Pouladian analyzes: Hurlston says Lumentum sells out through 2028 in two quarters. The AI infrastructure market is organizing around two power centers — and live news is validating the thesis i…
AI for the Rest of the World: Why Muse Spark Changes the Meta Thesis
April 9, 2026
Ben Pouladian analyzes: Meta is not chasing the frontier race. It is building a surface-specific consumer toolkit. Muse Spark is the first visible confirmation.
The Compute Confession
April 7, 2026
Ben Pouladian analyzes: Anthropic Just Built a Frontier Model They Cannot Afford to Run
The Token Dollar
April 4, 2026
Ben Pouladian analyzes: Oil is scarce because of war. Tokens are scarce because of physics.
2.7x on the Same Iron: MLPerf v6.0 Just Proved Nvidia’s Extreme Co-Design Thesis
April 1, 2026
Ben Pouladian analyzes: NVIDIA’s software stack just delivered 2.7x more tokens from the same GB300 NVL72 hardware in six months. That’s not a product launch. That’s a moat.
The Orchestration Layer Is the New Platform War — NVIDIA’s AI Agent Strategy | GTC 2026 (Podcast)
March 29, 2026
Ben Pouladian presents “The Orchestration Layer Is the New Platform War — NVIDIA’s AI Agent Strategy | GTC 2026 (Podcast)” — deep-dive analysis from BEP Research covering AI infrastructure, semicon…