The Century of Material Science
A concentrated, long-only investment thesis on the semiconductor and AI-hardware stack powering artificial intelligence, robotics, and the next generation of quantum computing.
Explore the ThesisEach technological revolution made capability dramatically cheaper and more abundant. Semiconductors are not a bubble — they are this era's steam engine: the hardware that powers everything built on top of it.
Water and steam mills made goods cheaper and production far higher volume. Hardware defined the era.
RealizedMoore's Law — twice the power, half the cost, every two years. Silicon became the foundation of modern commerce.
RealizedCompute becomes the scarce input. Every model runs on physical hardware — GPUs, memory, and power silicon. Hardware leads software.
ActiveA new class of chips changes science itself — beginning in drug discovery, encryption, and materials science. Too early to own, not too early to track.
Emerging~15 high-conviction names. Deliberate weights sized to forward growth, not market cap.
Compute, memory, and equipment leaders, plus ASML and TSMC — the irreplaceable chokepoints of global semiconductor supply.
Gold, copper miners, rare earths, and short-term treasuries. ~15% allocation to compress tail risk while preserving upside.
Pre-committed drawdown rules. Single position down 15%: trim by 50%. Portfolio down 20%: apply index puts.
The portfolio is built around the irreplaceable nodes of the AI hardware stack. Every AI model, every data center, every autonomous system runs on chips. We invest where value is created first: in the silicon and the materials beneath it.
Target weights. Illustrative only. Not investment advice.
Prabhu B. Iyer founded Crystallum Capital to apply PhD-level materials science judgment to semiconductor equity investing — an edge that generalist analysts cannot replicate from a spreadsheet.
As a Process Support Engineer IV at Applied Materials, he has a ground-level view of semiconductor fabrication economics, supply chain dynamics, and which technology roadmaps are real versus aspirational. His work has contributed to over $140M in commercial impact in defect review for a major semiconductor client.
His scientific training provides structural analytical depth when evaluating the companies building the physical infrastructure of AI. The investment thesis at Crystallum is not a financial model imposed on an unfamiliar industry — it is built from the inside out.
Prabhu is completing his Executive MBA in Finance at the Wharton School, where he works with senior finance faculty on the investment framework underlying the strategy.
Faculty provide academic guidance; this is not an endorsement of any securities offering.
Crystallum Capital operates as a Separately Managed Account strategy. This website is for informational purposes only and does not constitute an offer to sell or solicitation of any offer to buy an interest in any account or fund.
This website is provided for informational purposes only and does not constitute an offer to sell or the solicitation of any offer to buy an interest in any account, fund, or investment vehicle. Crystallum Capital LLC operates as a Separately Managed Account (SMA) strategy and does not engage in general solicitation or public advertising. Nothing on this site constitutes investment, legal, or tax advice. An investment in any strategy is speculative and involves a high degree of risk, including the possible loss of all or a substantial portion of capital. Any target returns or performance figures referenced are objectives only — not guarantees. Prospective investors should consult their own legal, tax, and financial advisers before making any investment decision.