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MUMRVLALBLACNVDACDNSSNPSBULLISHCore thesis · 5/5

Invest in AI infrastructure scarcity

The investment thesis presented is to own companies related to the scarce infrastructure needed for the 'agentic' AI world - power, memory, chips, and minerals - while avoiding companies building on abundant code.

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NOT INVESTMENT ADVICE · A SUMMARY OF WHAT WAS SAID ON THE PODCAST · VERIFY AGAINST THE SOURCE