{
  "generatedAt": "2026-10-22T15:41:06Z",
  "disclaimer": "Analysis and opinion, not investment advice.",
  "kind": "person",
  "slug": "kris",
  "name": "Kris",
  "role": "Potential Multibaggers",
  "url": "https://deepstack.ltd/people/kris/",
  "api": "https://deepstack.ltd/api/v1/entities/people/kris.json",
  "summary": "Kris is named in 9 Parts of The Buildout, most recently Part 17: The Guarantee Has No Date. Argued in Part 1 (Insatiable), Part 1 (Voices that cross sides), Part 2 (Exit liquidity), Part 4 (The spending is defense), Part 7 (Growth: yields are catching up), Part 8 (The spending pays), Part 10 (Everyone, soon), Part 15 (Oil stays out of the core), Part 15 (Voices that cross sides), Part 17 (The weak link pays first), Part 17 (Voices that cross sides).",
  "parts": [
    {
      "part": 1,
      "headline": "Nvidia’s Demand Is Real. Its Financing Is Fragile.",
      "url": "https://deepstack.ltd/stories/nvidias-demand-insatiable-or-manufactured/"
    },
    {
      "part": 2,
      "headline": "SpaceX Is Funding an AI Bet Before the Proof",
      "url": "https://deepstack.ltd/stories/spacex-after-the-ipo-exit-liquidity/"
    },
    {
      "part": 4,
      "headline": "AI Spending Has Met Its First Real Bill",
      "url": "https://deepstack.ltd/stories/the-market-stops-paying-for-faith/"
    },
    {
      "part": 7,
      "headline": "The Fed Hiked. The Long End Still Climbed.",
      "url": "https://deepstack.ltd/stories/the-fed-hiked-the-long-end-kept-climbing/"
    },
    {
      "part": 8,
      "headline": "AI Lenders Are Financing the End of Scarcity",
      "url": "https://deepstack.ltd/stories/the-scarcity-is-the-collateral/"
    },
    {
      "part": 10,
      "headline": "The Bubble Is in the Denominator",
      "url": "https://deepstack.ltd/stories/the-bubble-is-in-the-denominator/"
    },
    {
      "part": 12,
      "headline": "The Model Is Not the Price",
      "url": "https://deepstack.ltd/stories/the-model-is-not-the-price/"
    },
    {
      "part": 15,
      "headline": "Oil Is the Headline. The Real Yield Is the Bill.",
      "url": "https://deepstack.ltd/stories/oil-is-the-headline-the-real-yield-is-the-bill/"
    },
    {
      "part": 17,
      "headline": "The Guarantee Has No Date",
      "url": "https://deepstack.ltd/stories/the-guarantee-has-no-date/"
    }
  ],
  "numbers": [],
  "mentions": [
    {
      "part": 1,
      "section": "Private credit, public appetite",
      "excerpt": "Kris of Potential Multibaggers offers the strongest evidence that present demand is genuine.",
      "url": "https://deepstack.ltd/stories/nvidias-demand-insatiable-or-manufactured/"
    },
    {
      "part": 1,
      "section": "Private credit, public appetite",
      "excerpt": "On the question of demand today, Kris has the better evidence.",
      "url": "https://deepstack.ltd/stories/nvidias-demand-insatiable-or-manufactured/"
    },
    {
      "part": 1,
      "section": "Long the chips, short the returns",
      "excerpt": "Kris makes the same concession from the other flank.",
      "url": "https://deepstack.ltd/stories/nvidias-demand-insatiable-or-manufactured/"
    },
    {
      "part": 2,
      "section": "A price without proof",
      "excerpt": "Kris of Potential Multibaggers saw the valuation problem before the listing.",
      "url": "https://deepstack.ltd/stories/spacex-after-the-ipo-exit-liquidity/"
    },
    {
      "part": 2,
      "section": "A price without proof",
      "excerpt": "In a June 8 warning, Kris wrote that retail buyers at the expected price would be paying out insiders and early investors at the top of the hype cycle.",
      "url": "https://deepstack.ltd/stories/spacex-after-the-ipo-exit-liquidity/"
    },
    {
      "part": 4,
      "section": "The bill comes due",
      "excerpt": "Kris of Potential Multibaggers argues that the risk of investing too little is far greater than the risk of investing too much.",
      "url": "https://deepstack.ltd/stories/the-market-stops-paying-for-faith/"
    },
    {
      "part": 7,
      "section": "Three prices for 5%",
      "excerpt": "Kris, who writes Potential Multibaggers, adds a third-quarter growth estimate of 5.1% to inflation and gets nominal growth above 8%, comfortably above the Fed’s new rate.",
      "url": "https://deepstack.ltd/stories/the-fed-hiked-the-long-end-kept-climbing/"
    },
    {
      "part": 7,
      "section": "Three prices for 5%",
      "excerpt": "Potential Multibaggers makes the arithmetic explicit.",
      "url": "https://deepstack.ltd/stories/the-fed-hiked-the-long-end-kept-climbing/"
    },
    {
      "part": 8,
      "section": "A shortage with a price",
      "excerpt": "Kris sees Amazon’s cloud unit unable to serve all its AI demand despite heavy orders for Nvidia chips and its own Trainium processors.",
      "url": "https://deepstack.ltd/stories/the-scarcity-is-the-collateral/"
    },
    {
      "part": 10,
      "section": "A cheap top",
      "excerpt": "AWS has had more demand for AI capacity than it could supply, Kris of Potential Multibaggers says, despite large Nvidia orders and Amazon’s own chips.",
      "url": "https://deepstack.ltd/stories/the-bubble-is-in-the-denominator/"
    },
    {
      "part": 10,
      "section": "Who writes the checks",
      "excerpt": "AWS is capacity-constrained, Kris says.",
      "url": "https://deepstack.ltd/stories/the-bubble-is-in-the-denominator/"
    },
    {
      "part": 12,
      "section": "Open weights set the price",
      "excerpt": "Kris, on September 14, relayed Vercel's count: open models at 62% of its AI Gateway tokens, from 28.4% two months earlier.",
      "url": "https://deepstack.ltd/stories/the-model-is-not-the-price/"
    }
  ],
  "sides": [
    {
      "part": 1,
      "question": null,
      "side": "insatiable",
      "sideLabel": "Insatiable",
      "claim": "The Google SpaceX GPU rental is bullish for Nvidia because there are still not enough GPUs to quench demand; Nvidia ramps production continuously but cannot follow demand.",
      "date": "2026-06-08",
      "url": "https://www.potentialmultibaggers.com/p/when-good-news-is-bad-news",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/nvidias-demand-insatiable-or-manufactured/",
      "sidesUrl": "https://deepstack.ltd/sides/nvidias-demand-insatiable-or-manufactured/"
    },
    {
      "part": 1,
      "question": null,
      "side": "crossing",
      "sideLabel": "Voices that cross sides",
      "claim": "Bullish on demand, and endorses the GFC earnings-quality parallel.",
      "date": null,
      "url": "https://www.potentialmultibaggers.com/p/when-good-news-is-bad-news",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/nvidias-demand-insatiable-or-manufactured/",
      "sidesUrl": "https://deepstack.ltd/sides/nvidias-demand-insatiable-or-manufactured/"
    },
    {
      "part": 2,
      "question": null,
      "side": "exit-liquidity",
      "sideLabel": "Exit liquidity",
      "claim": "Retail buyers of the SpaceX IPO are the exit liquidity: the fancy name for paying insiders, VCs and early investors at peak hype valuations.",
      "date": "2026-06-08",
      "url": "https://www.potentialmultibaggers.com/p/when-good-news-is-bad-news",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/spacex-after-the-ipo-exit-liquidity/",
      "sidesUrl": "https://deepstack.ltd/sides/spacex-after-the-ipo-exit-liquidity/"
    },
    {
      "part": 2,
      "question": null,
      "side": "exit-liquidity",
      "sideLabel": "Exit liquidity",
      "claim": "The Google SpaceX GPU rental is bullish for Nvidia because there are still not enough GPUs to quench demand; Nvidia ramps production continuously but cannot follow demand.",
      "date": "2026-06-08",
      "url": "https://www.potentialmultibaggers.com/p/when-good-news-is-bad-news",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/spacex-after-the-ipo-exit-liquidity/",
      "sidesUrl": "https://deepstack.ltd/sides/spacex-after-the-ipo-exit-liquidity/"
    },
    {
      "part": 4,
      "question": null,
      "side": "spending-is-defense",
      "sideLabel": "The spending is defense",
      "claim": "The Mag7 capex boom should be read the same way: the risk of not investing heavily is much higher than the risk of overinvesting, which is why Alphabet announced more investment and others will follow, since their existence is at stake.",
      "date": "2026-07-26",
      "url": "https://www.potentialmultibaggers.com/p/the-worst-july-in-22-years",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-market-stops-paying-for-faith/",
      "sidesUrl": "https://deepstack.ltd/sides/the-market-stops-paying-for-faith/"
    },
    {
      "part": 7,
      "question": null,
      "side": "growth",
      "sideLabel": "Growth: yields are catching up",
      "claim": "Interest rate hikes are not currently a problem for the economy or investing, because if the economy and company profits grow faster than the interest rate, value is created, and the estimated Q3 GDP growth of 5.1% plus inflation gives nominal…",
      "date": "2026-09-21",
      "url": "https://www.potentialmultibaggers.com/p/the-end-of-an-era",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-fed-hiked-the-long-end-kept-climbing/",
      "sidesUrl": "https://deepstack.ltd/sides/the-fed-hiked-the-long-end-kept-climbing/"
    },
    {
      "part": 7,
      "question": null,
      "side": "growth",
      "sideLabel": "Growth: yields are catching up",
      "claim": "The main reason for higher inflation is probably the more expensive oil, and a higher interest rate will not cure that; the Fed just wants to ensure inflation doesn't get out of hand.",
      "date": "2026-09-21",
      "url": "https://www.potentialmultibaggers.com/p/the-end-of-an-era",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-fed-hiked-the-long-end-kept-climbing/",
      "sidesUrl": "https://deepstack.ltd/sides/the-fed-hiked-the-long-end-kept-climbing/"
    },
    {
      "part": 8,
      "question": null,
      "side": "spending-pays",
      "sideLabel": "The spending pays",
      "claim": "AWS has had more demand than supply, with customers wanting more AWS capacity for AI than could be served despite large Nvidia orders and Amazon's own Trainium chips, and Kris considers this kind of capacity-constrained spending among the best…",
      "date": "2026-09-16",
      "url": "https://www.potentialmultibaggers.com/p/best-buys-now-september-2026",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-scarcity-is-the-collateral/",
      "sidesUrl": "https://deepstack.ltd/sides/the-scarcity-is-the-collateral/"
    },
    {
      "part": 10,
      "question": "who-writes-the-checks",
      "side": "everyone-soon",
      "sideLabel": "Everyone, soon",
      "claim": "AWS has had more demand than supply, with customers wanting more AWS capacity for AI than could be served despite large Nvidia orders and Amazon's own Trainium chips, and Kris considers this kind of capacity-constrained spending among the best…",
      "date": "2026-09-16",
      "url": "https://www.potentialmultibaggers.com/p/best-buys-now-september-2026",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-bubble-is-in-the-denominator/",
      "sidesUrl": "https://deepstack.ltd/sides/the-bubble-is-in-the-denominator/"
    },
    {
      "part": 15,
      "question": null,
      "side": "oil-stays-out-of-the-core",
      "sideLabel": "Oil stays out of the core",
      "claim": "Kris reports that Bill Ackman raised the thought that higher interest rates may not reduce inflation this time because demand for AI and energy is not affected by higher rates, and Kris says there is something to be said for this.",
      "date": "2026-09-28",
      "url": null,
      "linkVerified": false,
      "storyUrl": "https://deepstack.ltd/stories/oil-is-the-headline-the-real-yield-is-the-bill/",
      "sidesUrl": "https://deepstack.ltd/sides/oil-is-the-headline-the-real-yield-is-the-bill/"
    },
    {
      "part": 15,
      "question": null,
      "side": "crossing",
      "sideLabel": "Voices that cross sides",
      "claim": "Nominal growth outruns the rate; the oil inflation is one hikes won't cure.",
      "date": null,
      "url": "https://www.potentialmultibaggers.com/p/the-end-of-an-era",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/oil-is-the-headline-the-real-yield-is-the-bill/",
      "sidesUrl": "https://deepstack.ltd/sides/oil-is-the-headline-the-real-yield-is-the-bill/"
    },
    {
      "part": 17,
      "question": null,
      "side": "the-weak-link-pays-first",
      "sideLabel": "The weak link pays first",
      "claim": "Kris has always said that if one pin falls among the AI companies many others would follow; they mostly thought of OpenAI, but consider Oracle a weak link in the chain as well.",
      "date": "2026-09-28",
      "url": "https://www.potentialmultibaggers.com/p/the-first-ai-crack",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/the-guarantee-has-no-date/",
      "sidesUrl": "https://deepstack.ltd/sides/the-guarantee-has-no-date/"
    },
    {
      "part": 17,
      "question": null,
      "side": "crossing",
      "sideLabel": "Voices that cross sides",
      "claim": "Kris repeats a long-held view that one should not expect the AI bubble to burst simply because it is a bubble; technological revolutions typically skip efficiency first and overspend, and the current data-center build-out assumes linear capacity…",
      "date": "2026-06-28",
      "url": null,
      "linkVerified": false,
      "storyUrl": "https://deepstack.ltd/stories/the-guarantee-has-no-date/",
      "sidesUrl": "https://deepstack.ltd/sides/the-guarantee-has-no-date/"
    },
    {
      "part": 17,
      "question": null,
      "side": "crossing",
      "sideLabel": "Voices that cross sides",
      "claim": "Kris argues that the widespread professional view of an AI/chip bubble is wrong, because infrastructure companies have multi-year supply contracts and chipmakers like Micron and Nvidia cannot currently produce enough chips to satisfy demand.",
      "date": "2026-08-24",
      "url": null,
      "linkVerified": false,
      "storyUrl": "https://deepstack.ltd/stories/the-guarantee-has-no-date/",
      "sidesUrl": "https://deepstack.ltd/sides/the-guarantee-has-no-date/"
    }
  ],
  "coverage": {
    "creators": 3,
    "claims": 1963,
    "texts": 167,
    "asOf": "2026-10-22"
  },
  "lastUpdated": "2026-10-22"
}