00:00 Speaker A
There’s another stock I want to ask you about, and that is CoreWeave, which as you know, has sold off pretty sharply. Maybe the company didn’t sort of message very well about some delays at one of its um data centers in terms of construction or one of the data centers it’s leasing, not that it owns. Um, are you worried about that name, you know, in terms of execution risk, in terms of debt, in terms of the business model?
00:32 Speaker B
Yeah, I’m not I mean, because I look at Core Weave, Nebius is another one from some of the Neo clouds. Look, I just my view is like, you’re going to see things quarter to quarter move out. You you’re going to see some blemishes in this really fourth industrial revolution. But I don’t view it as sort of these panic moments, everyone heads for the elevator, yelling fire in a crowd theater. I mean, I do think this is one where it’s going to be hyperfocused, but the onus is on them to execute, communicate it. Because right now, like, investors are so sensitive naturally, right? In terms of like, is this a bubble? Again, like I’ve told you, I I think it’s 10:30 p.m. in that AI party that goes to 4:00 a.m. but these are that the responsibility is on the companies to communite.
01:21 Speaker A
Okay, so let me ask you this then. Like, I understand the thesis on the whole AI space, but if there are ones that are maybe a little bit higher risk in terms of messaging and execution, why not avoid that one? Why just not buy the other ones that don’t necessarily have that risk?
01:40 Speaker B
Sure, and like in our ETF, like we have the 30 AI win, I mean Core Weave’s one of them, but the point is like, you can’t just like bet on one company. I think you do have to like whether it’s Godfather of AI Jensen video, whether it’s AMD, whether it’s Micron, on the software and the hyperscalar side, bet on your Pounteers, the Mongo DBs, the energy companies, the GE Vernovas and others. So I do think like to that point
01:54 Speaker A
You disperse it.
01:55 Speaker B
You have because you have to think about like a barbell approach. If you just bet on one, there’s risk, right? In terms of like what could happen with that company. WeWork would be a perfect example. I think when it comes to the best way to play AI revolution, you have to own some chip names, software,
02:22 Speaker A
But But I guess I’m asking why not avoid say a Core Weave and an Oracle? Why not just leave them out?
02:27 Speaker B
Yeah, look, but but my to that point is investors be like, oh, you don’t touch them, they’re toxic. But then let’s say six, nine months from now, you’re like, okay, how come I didn’t buy Oracle at 180 when now it’s 240. So, so my view is like, if there was structural issues, if I didn’t believe in the thesis, if there was something that felt like it was a business model change, then you avoid them. But I don’t believe that is, but it speaks to like, look, you need like you know, strong hands and sort of you know, a strong stomach to battle through some of these sort of like waves that we’re going to see, the deep seek moments, liberation day. I mean, we’ll have more in 26, right? But it speaks to my view like you’ll be wearing a, you know, S&P 7,000 hat, an 8,000 hat in New York. Like that’s my view where we’re two more years left in the tech bull market. and again, the bears in hibernation mode, they can’t see in their spreadsheets. They missed every transformational tech stock the last 20 years, focus on what could happen.
