ReTro.Death`Note sick AlcheMiST guide 06/08/2014

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I would say that the item build is not good in a way. If playing safe lane carry, in the early game you need to buy Boots of Speed and Hand of Midas to speed up your farming. Right now because of the HP bonus removal on Chemical Rage the only option for you is to buy a straight Heart of Tarrasque. It doesn't matter whether you will buy Mjollnir first item or Assault Cuirass. Alchemist doesn't have HP and it's only viable straight item he can go for. After that you can buy Mjollnir, Assault Cuirass, Abyssal Blade, Black King Bar and Boots of Travel. Sange and Yasha could be a good item because it boosts your HP, gives you cheap stats and other stuff.

Chemical Rage is not stronger on neither levels. Let me explain. The original idea was a super overpowered ultimate coupled with 2 average skills and 1 farming skill to make him into the ultimate late game carry. When he was first introduced, level 3 Chemical Rage gave him 1050 hp, 60hp/s, 12 mana/s, 0.9 BAT and iirc some movespeed (was it +60 back then I can't remember). His Acid Spray and Unstable Concoction were underwhelming (especially the old channeling Unstable Concoction) but his ult made it impossible for anyone to trade with him once he was farmed up. This still stands true but nowhere near the magnitude of those days.

Then buffs to all his normal skills came, heavy nerfs to Chemical Rage up until now where the removal of bonus HP and increased hp/sec along with Acid Spray + Unstable Concoction remakes/buffs makes Alchemist a ridiculous laner (back then laning was his nightmare) and now he also needs HP items on top of mobility and damage, attack speed, armor and disabling items. In order to become a proper carry at least.