Episode Details

Strategy research maps 2027's ~$1.6 trillion of AI investment — hyperscaler and neocloud cap ex plus the leases headline numbers miss — down to single-stock revenue. About 65% of the spend lands as S&P 500 revenue (~5% of 2027 index sales, ~25% of index sales growth), and Nvidia alone captures roughly two-thirds of the absorbed flow. As cap ex growth moderates from ~60% in 2027 to ~14% in 2028, the edge shifts to whoever owns the bottlenecks: power (Caterpillar, Cummins, GE Vernova, Bloom Energy, Forgent Power, Innio, E-Rock), compute (Nvidia, AMD, Broadcom), memory (Micron, SanDisk, Samsung, SK hynix — a bottleneck trading near 3x earnings), hard drives, optical, the server OEMs, and the pricing-power leaders (Vertiv, Trane, Johnson Controls, Hubbell). Risks: the power constraint, spender ROIC, politics, and peak rate-of-change. This information is for informational purposes only and is not financial advice; please do your own research.