Caroline Woods Okay. So if you want to follow the money and you want exposure to some of these sectors, what's the best way to do it? Through ETFs, some thematic ETFs, or do you have any individual stock picks?Kevin Mahn Exactly. So when I say follow the money, I don't necessarily mean flow of funds, but rather, where are all the billions of dollars going to be spent in 2026? And believe it or not, they're going to likely be in the same area as they were in 2025. First off, AI infrastructure. According to J ...

Key Points ChargePoint faces multiple headwinds and continues to burn through cash. Cipher Mining's AI infrastructure is growing rapidly, while ChargePoint's EV infrastructure faces challenges. Long-term deals are moving Cipher Mining closer to profitability, while the path to positive net earnings is a lot murkier for ChargePoint. 10 stocks we like better than Cipher Mining › ChargePoint (NYSE: CHPT) has been a disaster for long-term investors. The stock price of this electric vehicle (EV) charg ...

Group 1: Market Performance - All three major indexes finished 2025 with gains, marking their third consecutive year in the black, with the Dow Jones Industrial Average (DJI) adding 13%, the Nasdaq Composite (IXIC) rising 20.4%, and the S&P 500 Index (SPX) tacking on 16.4% [1] - Each benchmark also rose for the third straight quarter despite tech volatility, with the tech sector experiencing significant growth amid AI-related advancements [1] Group 2: Federal Open Market Committee and Precious Metals - The Federal Open Market Committee's (FOMC) December meeting minutes were a focal point, while silver prices reached record highs during a volatile week for precious metals [2] Group 3: AI Developments - Softbank is in advanced talks to acquire DigitalBridge Group (DBRG) for $4 billion to expand its AI infrastructure [3] - Meta Platforms (META) is acquiring Manus, a Singapore-based AI startup [3] - Applied Digital (APLD) announced plans to spin off its cloud business, merging with Ekso Bionics (EKSO) to create "ChronoScale" [3] - Baidu (BIDU) declared a spin-off of its semiconductor unit, Kunlunxin, with plans to list it in Hong Kong [3] Group 4: Future Outlook - Tech dominated this year's lucrative options plays, with expectations for AI continuing to be high [4] - Uranium producer Cameco (CCJ) has benefited from increased demand for alternative energy sources and is highlighted as a top stock pick for 2026 [4] - Attention is advised on SPX levels following the benchmark's recent record peak [4]

Key Points Oracle is betting big on AI infrastructure. A massive deal with OpenAI could pay off over the next few years, but a lot has to go right. If the AI industry overbuilds AI data centers, Oracle will be in serious trouble. 10 stocks we like better than Oracle › Shares of Oracle (NYSE: ORCL) soared earlier this year when the software and cloud company disclosed a gargantuan jump in its backlog, largely the result of a reported $300 billion AI infrastructure deal with OpenAI. However, those ...

SoftBank Group has entered into an agreement to acquire DigitalBridge Group in a deal valued at approximately $4bn. The acquisition, which will see SoftBank purchase all outstanding shares of DigitalBridge for $16 each in cash, aims to strengthen SoftBank’s position in developing global infrastructure for artificial intelligence (AI) applications. Both companies’ boards have unanimously approved the transaction after a special committee of DigitalBridge's independent directors reviewed and recommended t ...

Core Insights - Morgan Stanley has identified a select group of stocks that are well-positioned for growth heading into 2026, focusing on strong fundamentals and favorable industry trends [1] Group 1: Artificial Intelligence - Nvidia is viewed as a core play on the artificial intelligence theme, with accelerating revenue growth and sustained demand exceeding supply [2] - Nvidia has outperformed its guidance, adding billions in sequential revenue, supported by a long runway for AI infrastructure spending [2] Group 2: Digital Media - Spotify is recognized for its growth and improved profitability, with its use of AI seen as a competitive advantage [3] - The company is expected to offset higher content costs in 2026 through pricing power and rising average revenue per user, supporting margin expansion [4] - Spotify shares have increased by approximately 30% in 2025, indicating growing confidence in its business model [4] Group 3: Cybersecurity - Palo Alto Networks is positioned as a leading beneficiary of platformization and AI adoption in cybersecurity, with an optimistic outlook due to attractive valuation levels and solid growth prospects [6] - The pending acquisition of CyberArk is expected to strengthen Palo Alto's product offering and long-term earnings power, despite a modest 2025 gain of about 3.6% [7] Group 4: Data Storage - Western Digital is highlighted as a top pick linked to cloud capital expenditure growth, with improving demand in the hard disk drive market and strong exposure to public cloud spending [9] - The company has seen its shares rise over 300% in 2025, with fundamentals justifying a bullish outlook going into next year [10]

Core Viewpoint - Alphabet's acquisition of Intersect for $4.75 billion aims to enhance data center and energy infrastructure capacity, accelerating energy development and innovation [1][5] Group 1: Acquisition Details - The transaction includes Intersect's energy and data center projects currently in development or under construction through its partnership with Google [2] - Intersect will operate independently under its own brand and maintain a close relationship with Google's technical infrastructure team [2] - Google holds a minority stake in Intersect from a previous funding round [2] Group 2: Project Collaboration - The companies are collaborating on a co-located data center and power site in Haskell County, Texas [3] - Intersect will explore emerging technologies to diversify energy supply for Google's expanding data center needs [3] - Assets in Texas and California will not be included in the acquisition and will remain with a separate entity supported by TPG Rise Climate and others [4] Group 3: Strategic Alignment - Alphabet's CEO stated that the acquisition will help expand capacity and innovate energy solutions to support US leadership [5] - The acquisition aligns with Alphabet's strategy to collaborate with utilities to ensure energy supply for future data center growth without burdening electricity grid customers [5] Group 4: Energy Initiatives - The company is pursuing initiatives to responsibly increase energy capacity and commercialize advanced energy technologies [6] - Alphabet is utilizing AI tools to facilitate faster integration of new power plants into the grid and enhance efficiency in data center communities [6]

Crossroads Capital LLC, an investment management company, released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Crossroads Capital Investment Partners, LP, appreciated 6.4% net of all fees and expenses in the third quarter of 2025, making the YTD return 34.1% net through Q3 2025. The fund has compounded at 21.4% gross and 17.3% net basis since inception. In addition, please check the fund’s top five holdings to know its best picks in 2025. In its third-quarter ...

Core Viewpoint - The investment thesis on Baidu (BIDU) is centered around AI Infrastructure, particularly focusing on Cloud, Compute Capacity, Inference, and Proprietary Chips, rather than on ChatBot/Consumer AI [1]. Group 1: Investment Strategy - The company is rated as a "Buy" based on its potential in AI Infrastructure [1]. - The analysis combines top-down macroeconomic factors with bottom-up stock selection to identify mispriced opportunities [1]. Group 2: Analyst Background - The analyst has over 10 years of experience in global markets, managing multi-asset strategies and equity portfolios at a European asset manager [1]. - The focus areas include earnings, technological disruption, policy shifts, and capital flows [1].

“By contrast, AI-related investment is still gaining momentum across all sectors. Western Europe remains well positioned here, with strong research and development capabilities and deep engineering talent pools, which continue to attract international companies seeking to establish advanced research, data and engineering hubs.”"Industrial projects in Western Europe are likely to continue decreasing, but the impact is now spreading to other activity types. Green tech and renewable-energy investments, which w ...