Coatue's Chief Investment Officer of Public Investments, Jaimin Rangwalla, joins Molly O’Shea of Sourcery to unpack the most extraordinary technology cycle of his 20-year career. Jaimin walks through Coatue's spring investor update — why OpenAI, Anthropic, and SpaceX are breaking into the world's top 25 companies before going public, how Anthropic was adding $2.5 billion in ARR every single week, and how the rise of agents launching agents is creating what he calls a "digital population explosion" that will multiply every person's semiconductor and power footprint by 1,000x.

Jaimin also breaks down Coatue's "follow the gigawatts" framework, the shift from 1 CPU : 8 GPUs to 1 GPU : 4 CPUs, why semiconductors went from career-long shorts to the most profitable sector in the market, and the "sellers of shortage vs. buyers of shortage" dynamic driving today's biggest winners. Plus: the bottlenecks no one is solving, the trillion-dollar IPOs coming, and what keeps him up at night.

Chapters below. Subscribe for more conversations with the investors and operators building the AI era.

Coatue Update Replay + Slides: https://www.coatue.com/blog/perspective/public-markets-update-2026-05-06

X: https://x.com/coatuemgmt/status/2052787367275319387?s=20

Jaimin Rangwalla: https://www.linkedin.com/in/jaimin-rangwalla-402a21/

Molly O’Shea: https://x.com/MollySOShea

Sourcery: ⁠https://x.com/sourceryy

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YouTube: https://youtu.be/ygtPaOhI0ak

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