{
  "disclaimer": "Goldirham Insight: educational research, not financial advice. Scores are editorial opinions, not forecasts. Simulated prices are illustrations, not market data.",
  "rows": [
    {
      "symbol": "GOOGL",
      "name": "Alphabet",
      "theme": "Owns the models, the chips, the cloud and the data",
      "upside": 7.5,
      "safety": 9,
      "ai_exposure": 9,
      "review_status": "unreviewed",
      "reviewed_by": null,
      "reviewed_at": null,
      "review_sources": null,
      "thesis": "Gemini, TPUs, DeepMind and Search — the most vertically integrated AI player.",
      "why_it_could_work": "Full stack: Gemini models, custom TPUs, Google Cloud, DeepMind | Unmatched proprietary data and distribution (Search, YouTube, Android) | TPUs reduce reliance on merchant GPUs | Cloud growing and inflecting to profitability",
      "key_risks": "Generative AI could disrupt the core Search ad model | Regulatory and antitrust overhang | Capex intensity competing with NVIDIA-class buildouts",
      "cycle_stage": "Re-rating as the market re-prices it from 'Search risk' to 'AI winner'."
    }
  ]
}