Silicom's existing designs are still ramping, so FY27 should be strong even from today's wins, though more design wins are needed. A roughly flat sequential Q4 guide does not make the quarter poor: Silicom posted a double beat, raised guidance and is close to profitability. It has tailwinds beyond its partial AI exposure at about 3x sales, but the market remains unmoved. x.com  x.com  x.com 

Silicom is still early on an AI inference ramp that could lift both revenue and margins. Conversion of an H2 2026 proof of concept at a Tier 1 hyperscaler would bring tens of thousands of FPGA inference cards, shifting mix toward higher-margin product and lifting gross margin from a depressed 30% toward the 2022 peak of 34%. Cash plus working capital covers about half the market cap, bounding the bear case, and the probability-weighted value is $85 against a $38 share price, about 2.23x. x.com  … Show more

Silicom is a recovering custom-networking supplier with real but early option value in AI inference networking, post-quantum cryptography and white-label switching. 2025 revenue rose to $61.9m, Q4 grew 17% and Q1 2026 guidance implies about 18% growth; it won 8 design wins in 2025 and targets 7-9 in 2026, several worth $1m-$10m a year. It runs at ~41% of 2022 revenue and loses money, and inventory at 84% of revenue risks write-downs. With ~$74m of cash and securities and no debt, EV is ~$69m. … Show more

Microchip's new quantum-safe cybersecurity chips, launched in late April, could bring major deals as US CNSA 2.0 rules require quantum-safe security in new defense and national-security systems from January 2027. Microchip is deeply embedded there; its CEO says it is in every offensive and defensive US weapon. Its 100k+ customers in industrial, data center, auto and communications will likely adopt too. No deals are announced yet, but record buy volume makes it a top stock to accumulate. x.com  … Show more

SEALSQ is the high-risk, high-upside bet on post-quantum cryptography, a market made real by Trump's executive orders setting specific deadlines. There are many unknowns: whether it meets its certification schedule, whether a small company can win share against NXP and STMicroelectronics, and whether those larger players accelerate their own FIPS 140-3 certification. If things go right, the upside is large, as the world needs protection against Q-day. x.com 

Arm collects royalties across the CPUs that AI workloads increasingly need, including AWS Graviton5, Google Axion, Azure Cobalt 200, Nvidia Grace and Vera, Qualcomm's Dragonfly C1000 and nearly all leading DPUs and SmartNICs. Anthropic locked in $11.6B over seven years with Akamai, expandable to about $20B, specifically for CPU workloads. x.com  x.com 

Rigetti gains a federal tailwind: the Commerce Department will award it up to $100M under the CHIPS Act over three years, and new executive orders target practical quantum computers by 2028 and post-quantum cryptography upgrades by 2031. With $569M in cash, the grant eases dilution and liquidity risk. Management says its superconducting gates are nearly 1,000x faster than rival technologies, which with its chiplet architecture positions it to reach quantum advantage within three years. x.com 

Niche post-quantum cryptography companies like SEALSQ and BTQ face a market where the biggest buyers are building PQC in-house instead of contracting small players. Major banks, cybersecurity companies, megacaps, Cloudflare and gate-based quantum firms are all developing their own, including JPMorgan and Microsoft. For SEALSQ to become a frontrunner, institutions implementing PQC at scale would need to sign with it, and that is not happening. The bigger prize in quantum is gate-based computing. … Show more