Core Insights - TDK Ventures, the corporate venture arm of TDK Corporation, focuses on deep-tech and hardware-led startups globally, with a significant emphasis on India as a strategic market [1][4] Investment Thesis - TDK Ventures was established in 2019 to partner with early-stage founders and startups, leveraging TDK's expertise in material science and process innovation to inform its long-term product roadmap [1] Fund Structure - TDK Ventures manages a total of $500 million across four funds, including a $50 million fund from 2019 and three subsequent $150 million funds, primarily investing at Series A with initial checks up to $5 million and potential follow-ons up to $15 million per company [2] Sector Focus - The firm invests at the intersection of deep-tech and hardware, focusing on two main themes: energy transformation (including new energy generation and storage) and digital transformation (covering semiconductors, mobility, space-tech, robotics, and industrial tech) [3] Importance of India - India is a key market for TDK Ventures, with the company operating five component manufacturing facilities and large battery plants, employing nearly 5,000 people, and having made four investments in local startups [4] Portfolio Companies - TDK Ventures' Indian portfolio includes startups such as Infinite Uptime (industrial AI), Exponent Energy (ultra-fast EV charging), Ultraviolette (electric motorcycles), and a precision agritech company focused on sensor-IoT and AI technologies [4] Views on Deep-Tech Exits - The primary challenge in deep-tech is securing intermediate capital, as monetization signals appear later, although successful IPOs like Ather and Ola Electric demonstrate that hardware-led companies can scale and exit within comparable timelines [5]

Industry Overview - Hardware companies experienced a challenging week [1]

Industry Trend - Hardware companies face a dilemma: overseas manufacturing for survival increases the risk of being copied [1] Company Status - iRobot files for bankruptcy, highlighting the challenges in the hardware industry [1]

Fed Policy & Market Impact - The Fed's 25 basis point rate cut was largely expected, but the dovish messaging, highlighting concerns about labor market weakness and potential overstatement of non-farm payroll numbers by approximately 60,000 jobs, surprised the market [1] - The Fed acknowledged the need to start treasury bill purchases at $40 billion per month, signaling continued liquidity support, which is seen as positive for assets like gold and Bitcoin [1] - Equities reacted positively, with small caps and transports rising, indicating a shift towards cyclical, pro-inflation trades, while growth stocks underperformed value stocks [2] Bitcoin & Crypto - Bitcoin's chart looks weak, but there are buy signals, with expectations of a surge back to $100,000 if it can get above $93,000, and Ethereum is outperforming Bitcoin [2] - The long-term view is that Bitcoin will benefit from the AI-driven hyper-productivity growth, as AI models compete with each other, diminishing moats and emphasizing adaptability, making Bitcoin a compelling large-cap growth investment [6][26] AI & Technology - The progress in AI models, particularly from GPT-4 to GPT-5, is based on advancements in reasoning and reinforcement learning, rather than solely on hardware, but the Blackwell deployment is crucial for visual language models and physical world applications like robotics and robo-taxis [3] - The consensus in San Francisco is that recursive self-improvement in AI will be reached in the next 2-4 years, leading to hyper-productivity and computers solving problems in energy and biology [5] - Open-source AI models are gaining traction, offering faster and cheaper solutions, but Blackwell chips provide a significant performance jump, potentially favoring closed-source models in the long run [5][6] Economic Transition & Investment Strategies - The US economy is transitioning from analog/electronic to digital, causing disruption and "shedding skin," with small business bankruptcies at a record high, but also creating opportunities for individuals to create income streams online [8] - The focus is shifting from software to hardware, with opportunities in energy, transportation, and small-cap companies making LiDAR and sensors, as the physical world is still essential to fuel technology [9] - The IPO market is expected to be historically active in the next 12-18 months, with companies like Anthropic, XAI, OpenAI, and SpaceX going public, requiring capital to build out physical infrastructure [8] Risks & Opportunities in 2026 - While a major recession is considered low probability, 20-30% market corrections are expected in the next 5 years due to events impacting profit margins and productivity [9] - A potential risk is the capex hole, where hyperscalers are spending heavily on infrastructure but not yet seeing corresponding revenue increases, potentially impacting valuations [9] - Embodied AI, starting with robo-taxis, is a major theme for the coming year, creating opportunities in hardware, batteries, and commodities like copper [10][11][12][13][14][15][16][17]

In the race to dominate artificial intelligence, China is neck and neck with America in software. But on hardware, a gap remains. America’s chipmakers, led by Nvidia, are far ahead https://t.co/ormIpGxkyv ...

Web3 发展趋势 - Web3 体验的真正飞跃来自于硬件，而不仅仅是软件 [1] 行业关注点 - Solayer 产品负责人 Joshua Sum 强调了硬件在 Web3 领域的重要性 [1]

RT Unruggable (@unruggable_io)Introducing the Unruggable A1 - a Solana-native hardware wallet, machined from aerospace-grade Aluminium.Hardware engineered for @solana.Pre-orders go live this week. Limited supply. https://t.co/DKR9fjH7ob ...

AI and Tech Industry Trends - AI is expected to drive profound changes in the economy over the next 15 to 20 years, with the industry still in its early stages [2] - Nvidia continues to penetrate the market with a huge growth opportunity [3] - The US has a substantial lead in AI hardware, as evidenced by China's willingness to use Nvidia's "junior varsity chips" as a key negotiating piece [4] - US companies have a clear lead in AI technology, and global demand is expected to continue [8] - Tech companies generally have best-in-class profit margins and cash flows, providing stability and clarity for investors [9] Market Dynamics and Investment Considerations - Short-term ebbs and flows are expected in the supply chain [2] - Tech is viewed as a combination of growth and safety [3] - Tech sector demonstrates above-market growth rates [9] - Investors appreciate the predictability and safety of tech companies [9] Bond Market and Interest Rates - The 30-year Treasury yield above 5% is not yet a warning signal, but something to monitor [12] - The 10-year Treasury yield has been oscillating between 45% and 475% [13] - A 10-year Treasury yield above 48% or 49% would warrant reassessment [14] Alternative Asset Management - There are $125 trillion in assets sitting in 401(k)s, so even a small penetration represents meaningful flows for alternative asset managers [10] - Changes in the capital regime may lead big banks to re-enter the alternative asset management market [11]

We're going to roll the animation as Nvidia 4 trillion dollar market cap uh which no company's ever done, Jim. Well, look, it's the it's the evolution of hardware. It is if it were just AI, generative AI, that'd be one thing, but it's accelerated computing and people don't give that enough credit.And I I think it's this time is not software time. It's not Exxon's time. It's the it's the it's the idea that we have leader in the world in hardware.Remember, there's a ton of software in Nvidia. Uh, and there's ...

Nvidia's Market Position and Potential - Nvidia is considered the leader in hardware with significant software capabilities, unmatched by competitors [2] - The discussion suggests Nvidia could reach a $4 trillion market capitalization, a feat no company has achieved before [1] - Accelerated computing, beyond just generative AI, is a key factor in Nvidia's success [1] AI Trade and Market Sentiment - The AI trade is potentially strong enough to overshadow concerns about tariffs and trade uncertainty [3] - Individual investors are highly enthusiastic about Nvidia, potentially more so than institutions [4] - Retail investors recognize the long-term potential of the market, citing the Dow's growth from 1,000 in 1982 to 45,000, and the wealth generated by holding Nvidia [6] Investment Strategies and Risk - The report suggests that Nvidia has made many people rich, unlike any other stock seen before, and is primarily a retail stock [7] - A strategy of selling a portion of Nvidia holdings (e g, reducing a position to 5%) to diversify into other stocks is mentioned [8] - Institutions may have exited Nvidia positions in the past [7] Tariffs and Economic Impact - The impact of tariffs, particularly on copper, is questioned, with one administration contact seemingly unable to justify them [4][5] - Tariffs are perceived to be scaring institutions more than individual investors [5] - Individual investors are either pro-Trump or view Trump's policies as a distraction from making money in Nvidia [6]