If You Missed Palantir or Nvidia. This is Even Bigger.

Felix & Friends (Goat Academy)•Jul 12, 2026

Summary

Felix provides a comprehensive outlook on the current AI spending war, noting that major tech companies are projected to spend over $1 trillion on infrastructure. Felix argues that while chips like Nvidia's are famous, they only represent 30% of the story; the true bottlenecks are power, physical data center construction, and specialized connectivity. Felix introduces a "three-checkbox framework" to evaluate stocks: verifying if the industry is climbing, ensuring the company is best-in-class (high margins and backlog), and confirming the stock is in an active uptrend. Felix emphasizes that "buy and hold is dead," warning that investors must learn to follow momentum and use systems to take profits before cycles turn.

Felix highlights six specific stocks across three critical sub-sectors:

**STRL (Sterling Infrastructure):** Felix describes this company as a leader in data center foundations and electrical systems. Felix points out its 92% year-over-year revenue growth and a massive $5 billion contracted backlog. Felix notes that because they have signed contracts and zero R&D spend, their growth is nearly guaranteed as they build boring but essential infrastructure.

**AGX (Argan):** Felix focuses on this company's role in building natural gas power plants specifically for data centers, including a massive 1.4-gigawatt plant in Texas. Felix highlights its incredible 40% free cash flow margin and the fact that it is a debt-free business in a capital-intensive industry. Felix argues that with an $8.8 billion market cap and a $3 billion backlog, the company is exceptionally well-positioned.

**CRDO (Credo Technology Group):** Felix identifies this company as a "silicon plumber" that creates the connectivity chips allowing GPUs to talk to each other. Felix notes that their revenue tripled in a single year from $400 million to $1.3 billion with software-like gross margins of 68%. Felix considers this one of the highest-quality businesses in the sector due to its extreme pricing power.

**VICR (Vicor Corporation):** Felix explains that this company provides specialized power modules for AI chips that require precise electricity delivery. Felix highlights their 700% year-over-year profit growth and 55% gross margins. Felix argues that as a $12 billion company with all-time high backlogs, it serves as a critical solution to the AI power delivery bottleneck.

**OKTA (Okta):** Felix positions this company as the "identity layer" and bouncer for AI agents that need to access sensitive corporate data. Felix points out their nearly 80% margins and strong free cash flow generation. Felix states that as millions of AI agents are deployed, Okta's role in monitoring and guarding these agents will lead to sustained growth.

**CLBT (Cellebrite):** Felix presents this $4 billion company as a "sleeper" pick that provides digital forensics tools for law enforcement to analyze AI-generated data. Felix highlights its 84% gross margins, the highest on his list, and its role in a growing digital forensics market. Felix argues that the company's smaller size makes a 10x return more mathematically feasible than larger peers.