Is the AI Bull Market Moving Past Semiconductors?

Podcast: Chip Stock Investor Podcast · Nicholas Rossolillo; Kasey Rossolillo

Opublikowano: 2026-09-25

Neoclouds like Nebius, CoreWeave, and IREN are showing the signs of a micro bubble, and we trimmed our Nebius position. This episode covers where we think AI capital goes next. Jensen Huang frames the AI economy as a five-layer cake: energy, chips, infrastructure, models, and applications. So far the cake has been inverted. Most capital has gone to the bottom layers (energy, semiconductor manufacturing, and data center build-out), even though those sectors are a small share of global GDP. After the software selloff earlier in 2026, there are early signs that the top layer, meaning...