Nvidia has MORE demand than supply: Landsberg Bennett Private Wealth Management CIO

Core Viewpoint - Nvidia is compared to the 1849 gold rush, where it is seen as a provider of essential tools (picks and shovels) for the AI industry, indicating a strong market position despite concerns about future profitability in the broader ecosystem [3][4]. Nvidia's Market Position - Nvidia remains the largest position for the firm, with significant demand exceeding supply, indicating a robust market presence [5]. - The company is currently the only one making substantial profits in the AI sector, while others are still figuring out their profitability [6]. Investment Strategy - The firm has been actively managing its Nvidia holdings, adding to positions during downturns and trimming during periods of growth, reflecting a dynamic investment approach [5]. - There is a belief that Nvidia's stock will continue to rise as more companies in the AI ecosystem begin to generate profits [6]. Broader AI Ecosystem - The conversation around AI should extend beyond just chip manufacturers like Nvidia to include other sectors such as data centers, power generation, and HVAC systems, indicating a need for a diversified investment approach [7][8]. - Comfort Systems is highlighted as a significant holding, suggesting that the firm is looking beyond Nvidia to capture growth in the broader AI-related infrastructure [7]. Market Concerns - There are lingering issues such as tariff confusion and geopolitical tensions that could impact market dynamics, but these are not currently hindering investment decisions [9][10]. - The firm is monitoring oil prices and geopolitical developments, particularly in relation to Iran and Russia, as these factors could influence market conditions [10]. Additional Investment Opportunities - Fast Retailing, known for its Uniqlo brand, is identified as a strong growth opportunity, particularly in the Japanese market, which is often overlooked by US-centric investors [12][13]. - EQT is noted as a leading natural gas producer in the US, emphasizing the importance of natural gas as a key energy source moving forward [14].