SOMEN Research

Independent research on pre-IPO technology companies and the frontier supply chains behind them - AI silicon and memory, compute clouds, energy and power, defense, space and robotics, across Western and Chinese stacks. Every number traces to a public source; every core claim ships with a falsifier and a resolve-by date; resolutions are graded on the public scorecard.

Reference layer derived from the desk's knowledge graph: 669 companies, 338,555 sourced edges, 1,360 claim events (re-derived at render).

Reference pages

• Scorecard - every published claim, its falsifier, resolve-by date, and graded resolution.
• Marks table - claimed valuation vs last round vs secondary-market price, per company, per-cell sources.
• Napkin table - round size over post-money, thinnest slices first.

Teardowns

• Two Stacks in Orbit (2026-10-20) - China flies about twenty compute satellites; the West files for millions.
• Musk's Chip Fab Got $1.66 Billion in School Tax Breaks. The Filings List 1,000 Jobs. (2026-10-15) - Eight executed agreements; the per-job arithmetic nobody ran.
• 780,000 GPUs. The Efficiency Number Is Five Months Old. (2026-10-14) - xAI's fleet count against the utilisation figure it is defended with.
• Who Owns Musk's $119 Billion Chip Fab? The Paperwork Says SpaceX, Not Tesla (2026-10-12) - Four registry entities, the filings' own words, and the $5B unsigned line.
• $1.29 Billion Filed. No Price Anywhere. (2026-10-08) - Tenstorrent's largest-ever raise carries no valuation in any instrument. Fork No. 1.
• Committed, Not Utilized (2026-10-06) - The compute financing ledger, both sides, graded by who filed what.
• Not Publicly Computable (2026-09-29) - What the robotics market's marks actually measure.
• The Bigger Stencil: ASML's 12-Inch Photomask Plan (2026-09-22) - The High NA mask-format transition and its chokepoints.
• Anthropic's $543 Billion Compute Ledger (2026-09-15) - The take-or-pay rungs, counterparty by counterparty.
• Memory After the Sold-Out Years (2026-09-10) - Three memory makers, three post-2027 paths, and the export wall.
• Nscale: $103 Billion Claimed, $21 Million Filed (2026-09-07) - The IPO backlog claim against the revenue actually filed in the registers.
• Two Stacks: The AI Compute Supply Chain Map (2026-08-26) - Both AI compute chains, Western and Chinese, end to end. It narrows as it deepens.
• Etched: The 2.9 Percent Round (2026-08-18) - Ownership arithmetic on a $10.3B private mark; updated when the Series D landed.

Essays live at somen.ai. Nothing here is a prediction, a price target, or investment advice.

Rendered 2026-10-23T03:31:41Z from the live graph.