I’m bullish on AI, but I don’t think the opportunity ends with the biggest AI stocks.
NVIDIA’s latest results show how strong the demand remains, with quarterly revenue reaching $96.2B, up 106% year over year, while Data Center revenue jumped 117%. But this makes me ask a different question.
If AI computing keeps expanding, what has to be built around those chips?
I’m watching the infrastructure layer:
• Power generation and grid equipment • Data-center cooling • Networking and optical connectivity • Servers and storage • AI-focused cloud infrastructure
The more AI workloads grow, the more infrastructure is required to support them. So I’m not bearish on AI. I’m simply looking beyond the obvious names.
The next phase of the AI trade may not only be about who builds the chips, but also who supplies everything needed to run them.
My view: bullish on the broader AI theme, but selective about valuations and execution.
The AI opportunity may be much bigger than the GPU.
The jobs report was stronger than expected, and that made the CPI release even more important.
August Nonfarm Payrolls came in at 162K, well above expectations, while unemployment held at 4.1%. Then CPI arrived at 3.4% YoY, with core CPI at 2.4% YoY.
So the question is no longer simply whether inflation is falling. The bigger question is whether inflation is falling fast enough for the Fed to stay comfortable. My take? I’m leaning bearish on stocks in the short term.
Strong employment gives the Fed room to keep policy restrictive, while sticky inflation makes an aggressive easing path harder to justify.
For my portfolio, I’d rather keep some exposure to gold as a hedge against inflation and policy uncertainty than chase a short-term stock rally.
But I’m not calling for a straight-line selloff either. Markets can move very differently once expectations are fully priced in.
Hike or hold what do you think? And are you bullish or bearish right now? 🤔
Compte Square Vérifié+
