Ep 42. AI Under Power Grid Pressure: The Price to Energy Ratio Risk

Jess: Jess Inskip, I've been watching you on CNBC, Fox Business, and even that special on the Schwab Network the other day, that is.

Jessie: Anyway, you've been talking about a new emerging headwind you see in AI.

Jess: I have learned thus far that we are all invested in AI, whether we know it or not, because the S&P 500 is mainly technology now.

Jessie: According to Yahoo Finance, the S&P 500 is 31% technology, with 29.5% of that being only seven stocks.

Jess: Yes, it is.

Jessie: There you go.

Jess: That would be the mag seven, those seven stocks, less Tesla, because Google actually counts those two, because there's class A and class C shares.

Jessie: And that's why we say AI is holding up the market.

Jess: And one day we'll explain the difference between A and C.

Jessie: One has voting rights, the other one doesn't.

Jess: That's all.

Jessie: So all of this AI demand is driving the market higher.

Jess: And I want to know what is going on with AI.

Jessie: But I also want to know what this grid pressure emerging risk is as well.

Jess: I just received an email from my electric company trying to do an incentive for me to reduce my energy during peak usage times, which reminds me of that meme I just saw that says, so cool that cities are like, please only use your AC if you're actively dying and don't go below 79, while the AI nobody asked for is slurping up the power grid to make one image of a woman with five tits.

Jessie: I like the memes here.

Jess: So the one that talks about the problem with AI being that it's doing all the art and writing while we're sitting around stuck doing laundry and dishes and other mundane work when it should be the other way around.

Jessie: I would love AI to do my laundry.

Jess: Yeah.

Jessie: Like let's find AI, like where's my Jetsons, like Rosie robot that's like helping with the house cleaning and stuff.

Jess: So I have time to do the things that I actually want to do.

Jessie: There are AI companies that are helping with environmental issues and other things.

Jess: We're just not really seeing the uses around that as much as we are seeing all the silly things it's doing.

Jessie: So I think we should discuss what all this AI grid pressure is and let's make it make sense for the listeners and me.

Jess: Anything for you, Jesse and the listeners.

Jessie: Okay, here we go.

Jess: You're listening to Market MakeHer, the self-directed investing education podcast that breaks down the complexities of the stock market, teacher learner style from her perspective.

Jessie: I'm Jess Inskipp, what we call the finance expert, or as social media likes to call me, your fin mom, fin mother, not your best friend, your sister, your mother.

Jess: That's how I've been playing with it anyways.

Jessie: Here to share knowledge I have acquired through my over a decade long career in the financial industry.

Jess: You know, I wasn't okay with fin mom at first, but I am a mother of a 13 year old son.

Jessie: You are.

Jess: I am.

Jessie: And my job is to put my child's needs first.

Jess: Motherhood is all about self-sacrifice and teaching him how to be self-sufficient so he can really leave the nest and be independent.

Jessie: So the same actually applies here.

Jess: Motherhood is all about sacrificing.

Jessie: I gave up my licenses.

Jess: I'm sacrificing.

Jessie: And I want all of our listeners to be able to grow up and leave the nest and be financially independent.

Jess: So I guess I am your fin mom.

Jessie: I've accepted it.

Jess: I thought you embraced it.

Jessie: Now over like a couple months now that people have been calling you that.

Jess: And I'm Jesse Denue, a centuries old witch who never learned the mortal ways of investing.

Jessie: So I'm learning alongside you in an effort to get you all to eventually join my money cabin.

Jess: Oh, it's a good one.

Jessie: We're embracing our personalities today.

Jess: All right, let's talk about AI.

Jessie: I thought it'd be interesting to talk about sector performance before we dive into it.

Jess: Because yes, in P500 you said is 30% technology right now, which is amazing and it's growing and it's becoming more.

Jessie: But when we're trying to understand what part we are in the business cycle, are we in a contractionary phase or are we in that growth and expansion phase? If we're in growth and expansion, usually technology leads.

Jess: But if we're a more late cycle and getting towards that recessionary fears, utilities leads.

Jessie: If you look at three months, the top three performing sectors, it starts with technology up 10% and utilities up 9%.

Jess: That's odd.

Jessie: But I think this is why.

Jess: Because of the increased AI is driving the market higher.

Jessie: Yes, and it's a bigger component of the S&P 500.

Jess: This computing power of byproduct is grid pressure.

Jessie: Right.

Jess: And the increase on the utility sector.

Jessie: Yeah, that makes sense, right? Yeah.

Jess: So this is kind of proof of that playing out.

Jessie: Because whenever we're investing or we're coming up with investment thesis, we need to validate that.

Jess: And we're going to do that today.

Jessie: Yay.

Jess: Now that I'm thinking about it, it makes sense to invest in AI.

Jessie: On the other hand, you could invest in energy, I guess, because it's taking up so much energy.

Jess: It's like when you talk about health, what is what you're eating? What does it eat? And now we're like, what does what you eat, eat? Sure.

Jessie: So what does these products that are making the market perform? What do the products consume? Or what do the products need? We consume and we're consuming AI, we're consuming energy.

Jess: Yeah, there we go.

Jessie: Yeah, I like that.

Jess: The circle of life.

Jessie: Yes.

Jess: The circle of the stock market.

Jessie: There's something there.

Jess: Yeah.

Jessie: Within the past three months, technology is definitely leading the way up 10%.

Jess: Utilities is up 9%.

Jessie: And the S&P 500 is up 4%.

Jess: So that's what we mean by beating the stock market.

Jessie: They're beating the benchmark, which is the broader S&P 500.

Jess: We want broader participation.

Jessie: But nonetheless, let's look at what's driving that technology piece.

Jess: So there's earning season.

Jessie: And within technology, there's also tech week, and there's all these tech events.

Jess: And this year with those tech events and those conferences, we were looking for what's going on with AI? What's the new product? And if there is a new product, since these are public companies, what's going on? So kind of quick rundown of that.

Jessie: And I know we went through it on the episode that we had with JC, but we're gonna dive a little bit deeper today.

Jess: Microsoft started now with a new generation of PCs.

Jessie: We haven't had a PC refresh cycle, meaning people aren't going out to go buy new computers because there's nothing innovative and cool about it in a very long time.

Jess: Now, I'm even considering getting an AI PC, but I need Apple to give me one.

Jessie: I don't want to go to Microsoft.

Jess: They're utilizing Qualcomm chips, and that now made Microsoft go up.

Jessie: It makes Qualcomm go up.

Jess: If they're gonna have more sales, they're gonna have more revenues.

Jessie: If they're gonna have more revenue, then it makes the stock go up because the market's always...

Jess: Forward looking.

Jessie: Yes.

Jess: You've done well, my child.

Jessie: You can be my friend, Mom, too.

Jess: Google had Gemini.

Jessie: They had a new model designed to integrate across its ecosystem.

Jess: So a lot came out there.

Jessie: Google Music, personalized playlists.

Jess: So all this personalization data is now the currency of AI, it seems like.

Jessie: So whoever has the good data is gonna make out, and that's essentially what we saw.

Jess: Big one was NVIDIA.

Jessie: NVIDIA now is a huge event, like WWDC.

Jess: It didn't used to be as big, and now it is.

Jessie: They have those Blackwell GPUs, and that's next generation GPU architecture.

Jess: Super cool.

Jessie: But it's supposed to be really fast, and this next iteration is supposed to be more efficient.

Jess: And even though it is more efficient, meaning better on the grid, it's still not enough power.

Jessie: We've already talked about laying out the investment thesis of AI being this really great investment opportunity because we related it to the internet boom, where we didn't understand the internet.

Jess: Therefore, it was difficult to evaluate.

Jessie: And because it was difficult to evaluate, and there were younger companies, it ultimately made a bubble burst.

Jess: But the companies that had a clear path to profitability eventually survived and did really, really, really, really well.

Jessie: The difference now is comparing the AI boom to the dot-com bubble is these aren't companies that are starting in a garage.

Jess: These are the big companies already driving the S&P 500.

Jessie: So they have not only a clear path to profitability, they have a ton of cash, and they're huge.

Jess: They're not startups.

Jessie: Then that's our investment thesis that we came up with on episode something.

Jess: We just called it investing in AI.

Jessie: Now, we need to take that a step further because eventually, your investment thesis is going to play out, and that definitely has.

Jess: We've talked about NVIDIA a lot.

Jessie: NVIDIA is still pulling forward, and it keeps making record earnings, record earnings, record earnings.

Jess: Do you know what their profit margin is, by the way? No.

Jessie: 75%.

Jess: Wow.

Jessie: That is insane.

Jess: Do you want to describe what a profit margin is real quick? Yes.

Jessie: Basically, the remaining amount after you pay what it costs to make your product and all the overhead for employees or brick and mortars and all that, whatever is remaining after that is your profit.

Jess: Yeah, and then make it as a percentage.

Jessie: I love it.

Jess: Revenue, less expenses equals profit margin.

Jessie: Yes, the equation.

Jess: 75% is insane.

Jessie: Imagine- That's a large profit margin.

Jess: It's huge.

Jessie: No wonder they're the number one stock right now, basically.

Jess: Yeah, they have room to innovate.

Jessie: Innovation requires cash.

Jess: That leads to a really big point.

Jessie: Now that we're in this restrictive Fed cycle, it costs more for companies to borrow.

Jess: It costs more for consumers to borrow.

Jessie: It costs more for everyone to borrow.

Jess: Technology is capital intensive, and that's why it took a hit first, and there has been a drop in venture capitalists or VC activity.

Jessie: Less big tech companies because they have deep pockets.

Jess: They can win those deals.

Jessie: The big players are just going to keep getting bigger.

Jess: It's going to be a lot harder for the smaller ones to take off until rates get cut and they can afford to borrow more money or whatever it is they need.

Jessie: Exactly, and that should hopefully put a puzzle together when we're thinking about the overall market.

Jess: If we are now anticipating Fed cuts, and that's why we've been talking about it consistently, there could be M&A activity or funding on the sidelines ready to go, and they're just waiting to understand the current interest rate environment.

Jessie: If you understand, okay, I'm not going to buy a house yet because I think interest rates are too high, but if you get indication that they're going to come down, you may go ahead and buy that house.

Jess: Well, companies may go ahead and start increasing M&A activity, and then that will start a bullish cycle for a completely different reason.

Jessie: What is M&A activity? Mergers and acquisitions.

Jess: Yeah, sorry, investments.

Jessie: Thank you.

Jess: But AI has been exempt from that, but if everyone else is, so we've got 30% that is technology, the other 70% all of a sudden starts investing and spending their OPEX budgets, that's going to be really good for the market.

Jessie: Puzzle piece, side flow.

Jess: Anyways, I know you want to have an episode on PE ratio, which is price to earnings.

Jessie: The big overhyped discussion we've been having is, are the earnings projections for NVIDIA, Microsoft, Amazon, Mag7, hyperscalers are what they called, are they overvalued? And we do that from a price to earnings, but I say the real risk is price to energy.

Jess: Had a little fun.

Jessie: Oh, a different kind of PE.

Jess: Yeah, exactly.

Jessie: It's always interesting because when the stock market is doing well or things are high, living through all the things us millennials have lived through, it seems like we're always waiting for a crash to happen or something to fall.

Jess: How much more can things keep trending up? How long can that actually happen until things start coming back down? You have to kind of look at the world around you because the stock market is all around you and what's going on and this energy bit of it is important.

Jessie: Something that everyone should know, especially if you're doing big investments in AI.

Jess: And it's also how other opportunities can emerge.

Jessie: Meaning we're saying in order to check if it still has momentum, NVIDIA is a great example.

Jess: It has 75% profit margins.

Jessie: It's top customers are Microsoft, Amazon, and Google.

Jess: That is their customers.

Jessie: They all kind of use each other.

Jess: And if you spend all of this into one company, it's not just a one-time spend.

Jessie: You're probably also going to have service agreements and then that's going to translate into earnings.

Jess: So it's sticky, deep earnings that are being created.

Jessie: But what we're looking at now is, well, if we don't have enough energy to meet the astronomical demand, yes, they're making the sales and they're having the healthy profit margins.

Jess: But if you can't bring what is sold to life because of a supply issue, because that's what this is, who's going to fix that and what are the other opportunities? So it's other opportunities are emerging because there is a headwind.

Jessie: And we do have to remember that we are in a technological, innovational era.

Jess: So AI is already working on fixing this.

Jessie: There was an estimate that it would double between 2005 and 2010 because of these super high growth projections because of the iPhone and internet boom.

Jess: But the actuality of it was only 36%.

Jessie: That's a huge increase in electricity and grid pressure, but it didn't actually double because 2005 to 2010 is a five year timeframe and there was innovation that occurred in between to help alleviate that grid pressure.

Jess: So what we're looking for is, it's not an exact comparison.

Jessie: Who's going to be the immediate beneficiary of grid pressure? Who's going to be the emerging solution of said grid pressure, which is nuclear energy? And what are public companies that have exposure to that? The grid pressure was rising before.

Jess: Was the solution things like how we have those A21 light bulbs and LED lights and things like that now? Like everyone's using more energy efficient lighting and other energy efficient products.

Jessie: Now that we know that AI is something we're all using in different ways, but it's taking up a lot of energy and putting a lot of pressure on the grid.

Jess: Now we need to see who else is coming up with solutions to help reduce pressure on the grid.

Jessie: What kind of energy solutions are there? Who's trying to solve the issues that are being created by all of this AI? Absolutely.

Jess: And do you know how we find solutions? It's my favorite Einstein quote.

Jessie: If I had an hour, I'd spend 90% of it understanding the problem and 10% on the solution.

Jess: So we're going to focus on the problem.

Jessie: I love problem solving.

Jess: Me too.

Jessie: That's why I love escape rooms.

Jess: So great.

Jessie: We've never done one, Jessie.

Jess: I know.

Jessie: I don't like the idea of being trapped in a room, per se.

Jess: Well, it's okay.

Jessie: It's a button.

Jess: You're not really there.

Jessie: Okay.

Jess: Yeah.

Jessie: We need to do it.

Jess: I have a group of friends.

Jessie: We do one every year and we've never lost.

Jess: Oh, cool.

Jessie: Yeah.

Jess: I mean, I believe that.

Jessie: And if we did, I would be so upset.

Jess: I used to work at Merrill with all of them, so everyone is ridiculously smart.

Jessie: Nonetheless.

Jess: Love you guys.

Jessie: I'm down.

Jess: So let's talk about the problem.

Jessie: First of all, Blackwell hasn't been released to the market yet, but they've had got sales.

Jess: The Blackwell AI GPUs that were sold by Nvidia, they consume a lot of power.

Jessie: The amount of power that's projected just from the sales that they've already created is about 1.8 gigawatts in the US alone.

Jess: What we produce now is less than that.

Jessie: And that's where the concern is.

Jess: And we've got outdated infrastructure.

Jessie: If we think about the US power grid, it's known as the world's largest machine, but it's extensive and it's aging.

Jess: It's got 600,000 miles of transmission lines, which you could circle around the earth 24 times, which is interesting.

Jessie: Wow.

Jess: We're talking about our power grid in the US? Our power grid in the US.

Jessie: Yes.

Jess: And on average, they're 40 to 50 years old.

Jessie: So that is a very outdated infrastructure.

Jess: Yeah.

Jessie: Problem number one, outdated infrastructure.

Jess: Yes.

Jessie: Problem number two, we've had a really slow growth on power demand because there hasn't been really technological innovations rapidly since the iPhone and the World Wide Web.

Jess: So that makes sense, right? It was just about under 1% annually.

Jessie: Now it's increasing.

Jess: Just from the regular demand without AI, we would need to accommodate an additional 70 gigawatts of demand each year.

Jessie: That's similar to adding a whole nother state of Michigan to the grid annually.

Jess: New houses coming on because we're building houses.

Jessie: This is EV demand even.

Jess: So this spans beyond AI.

Jessie: It is just all that we're doing to rely more on electricity than we used to.

Jess: Yeah.

Jessie: And there aren't a lot of major utility projects.

Jess: They take a while to bring to fruition.

Jessie: Even fossil fuel has retired a little bit and there's regulatory barriers.

Jess: There's permitting you have to do.

Jessie: There's political barriers.

Jess: There's a lot of obstructions.

Jessie: And there's only about 60 gigawatts that will be added soon, which isn't enough.

Jess: There isn't enough supply expansion.

Jessie: So something has to give.

Jess: And that's where maybe fiscal policy will come in.

Jessie: And we've got the CHIPS Act and things like that, which will be a little teaser for our next episode of what happens during presidential election.

Jess: And then challenges with renewable energy.

Jessie: It's super important.

Jess: We have this clean energy transition, but that takes time.

Jessie: Solar energy or nuclear energy is super efficient, but that takes time to bring to the market.

Jess: These are the challenges.

Jessie: So now we need to focus on something that is going to bring to the market faster because it's a time crunch.

Jess: There needs to be an alternative, maybe like nuclear power, and it needs to be quickly and it needs to be better margins, essentially, is what we're looking for.

Jessie: The risk of this, of course, is it's not going to be updated to keep up with demand, but we'll see what happens.

Jess: So what I've come up with is a uranium ETF.

Jessie: Also, before we dive into these, I would like to give some disclosures.

Jess: These are examples of how you can be exposed to certain investment themes.

Jessie: This is not financial advice.

Jess: It's for informational and educational purposes only.

Jessie: Finance is personal.

Jess: I don't know your personal situation.

Jessie: Jesse doesn't know your personal situation.

Jess: There's a lot of people listening to this.

Jessie: So this is just education on things that meet these certain themes.

Jess: You went and searched this.

Jessie: You made the choice to listen to this, period.

Jess: All right.

Jessie: Uranium ETFs.

Jess: That's a good way to have exposure to nuclear energy.

Jessie: It's a global uranium ETF.

Jess: That's basically what propels nuclear energy, right? That's right.

Jessie: And nuclear energy is a very clean energy.

Jess: It's the most used fuel by nuclear power plants for nuclear fission.

Jessie: I guess the companies that are mining for it and stuff, which probably brings up all kinds of other ethical and environmental issues.

Jess: We try to keep coming up with solutions, but then I feel like it keeps bringing up more problems.

Jessie: And nuclear energy is supposed to be one of the cleanest and most efficient.

Jess: It is considered a zero emission clean energy source.

Jessie: Uranium is what fuels nuclear energy, which is referred to as clean energy technology as it produces nearly zero carbon dioxide or other greenhouse gas emissions.

Jess: So on one hand, it's got that.

Jessie: But on the other hand, it's said that there's a byproduct of radioactive millings is what it's called that can last for thousands of years and affect human health.

Jess: Good on one end of the spectrum, bad on another end of the spectrum.

Jessie: I don't know.

Jess: Which, I mean, it's good to know what you're investing in for sure.

Jessie: Yes.

Jess: Uranium is a piece of it for the nuclear energy aspect.

Jessie: There is reshoring and industrials and then also copper, copper mining and copper exposure.

Jess: So this is where we're getting into commodities.

Jessie: You can have ETFs or specific companies that expose you to commodities.

Jess: And that's really what this is coming down to.

Jessie: Copper is not only required for AI, it's also required for the grid.

Jess: So that actually would cover both problems of meeting the demand of all these AI chips, but also the grid pressure.

Jessie: Copper would? Copper would.

Jess: Cool.

Jessie: So on what you watched, I talked about FCX and BHP.

Jess: Again, just examples.

Jessie: Wait, so you're saying you're looking at companies that are mining copper and uranium, procuring it, producing it, finding it.

Jess: That's right.

Jessie: Are they in the business of mining copper? And then you apply your same due diligence that you would before.

Jess: Stay with us.

Jessie: We'll be right back.

Jess: Ready to plug into the future? Join myself, Sean Leahy and me, Andrew Maynard on Modem Futura, where we explore the technologies shaping our futures.

Jessie: We bring the experts, the insights and a whole lot of curiosity to every episode of Modem Futura as we boldly go where no one else has gone.

Jess: So join us as we navigate the intersection of innovation and humanity, uncovering the stories that will define our collective futures.

Jessie: Subscribe to Modem Futura wherever you get your podcasts.

Jess: We'll see you there.

Jessie: See you then.

Jess: And wait a minute.

Jessie: So uranium and copper are what's going to help the grid pressure? Yeah.

Jess: So copper is required for expanding the grid.

Jessie: So that's one piece of it.

Jess: There's growing demand and outdated infrastructure.

Jessie: And copper is also required for AI and EVs.

Jess: So it is a commodity that's required for a lot of different aspects of what is major themes within the market.

Jessie: Uranium is that other part of the problem, the challenges with renewable energy and outdated infrastructure and needing for innovation.

Jess: So just like with your point to the iPhone, all of a sudden there were LED lights and this other innovations and efficiencies that were a byproduct of technological improvements.

Jessie: I think nuclear energy is going to be the real solution because it's more efficient, doesn't require as much land, doesn't require as much materials.

Jess: It's carbon emission free.

Jessie: There are some bad side effects.

Jess: Yes.

Jessie: But if people are looking for companies to invest in that are trying to provide solutions to the pressure on the grid, how would they do that? Would they use like one of the tools we've mentioned in the past to get ideas? Absolutely.

Jess: You could use Ideal Builder is one solution that would come up with these.

Jessie: You can also look for it based on commodities, which is here.

Jess: So for example, on the nuclear energy one, the reason why I chose an ETF is I don't know what company is working on that yet.

Jessie: However, we know uranium is required.

Jess: So that's going to give you broader exposure.

Jessie: That's the thought process.

Jess: There are companies that are using AI to try to find more solutions to some of these AI issues, like they're using AI to try to find the solutions.

Jessie: What's really sexy is seeing what's images with AI, whereas some of the actual byproducts of AI, I don't think we've fully realized yet because it takes time to implement those.

Jess: We're on such the early stages of this AI revolution.

Jessie: We've got the chips that are being created and the actual infrastructure that has to be put down in order to bring those AI models.

Jess: People are buying those and are creating these chatbots and things like that.

Jessie: But what we haven't seen yet is what big things are going to be the result of AI.

Jess: How can AI help combat climate change and things like that? There are companies using AI to factor in elements of climate change that are constantly evolving to make more informed predictions about the changes in the environment so that companies can deploy mitigation efforts earlier.

Jessie: There are impactful uses of AI to help some of our big world problems that can hopefully just continue to get better.

Jess: You can look into those things too.

Jessie: We've talked about ethical investing a little bit, but if you don't want to invest in companies supplying uranium or copper due to whatever ethical reasons, maybe the people who are mining them and getting injured and things like that, you can make that decision for yourself.

Jess: You can look up ESG ratings.

Jessie: You might want to just do your own research too just to see what exactly is going on with these companies and make sure it's something that you do feel comfortable investing in.

Jess: It's all on you at the end of the day.

Jessie: You can do whatever you want.

Jess: You can also start looking into these companies that are trying to do good things for the environment or use AI in ways to help fight big issues like climate change, like we just said, or anything else that's going on in the world that you are passionate about.

Jessie: There's ways to do that.

Jess: We've definitely covered that in other episodes with different tools you can use to do research on different stocks, ETFs, securities of companies that are trying to find the solution to some of these big issues.

Jessie: Our whole thing here is investing for the long term.

Jess: Think about those things now and what we might need in the future.

Jessie: Absolutely.

Jess: If you think about what you need for the future, that's the definition of a growth portfolio.

Jessie: What is going to be the need for the future for sure.

Jess: It's something we need to remember when we go through these type of revolutionary aspects.

Jessie: It's all compounding.

Jess: If you think about back to steam and railways, even getting to the internet, it allowed innovation to occur, but every time there was a new innovative revolution, it was quicker than before because it grew on each other.

Jessie: Now we're compounding again.

Jess: It's very difficult to keep up with.

Jessie: I feel like there is a new AI something every single day.

Jess: We're here to help you find the investment opportunities nonetheless and make it make sense.

Jessie: I had no idea until I saw you on TV talking about the grid pressure of AI.

Jess: I'd never even heard about that.

Jessie: It did not occur to me.

Jess: Do you know where it started? It was a TikTok I saw where it was like one chat GPT input is equivalent to a light bulb being on for 15 minutes.

Jessie: I'm like, is this true? Then I started going through and I'm like, oh wow.

Jess: Good old TikTok.

Jessie: I love TikTok.

Jess: I really do.

Jessie: Giving us new information that nobody else is giving us.

Jess: If the grid pressure is a longer term risk, does that mean the AI story has peaked? No.

Jessie: That's because the grid pressure is a longer term risk.

Jess: AI build out cycle, it's definitely still in play.

Jessie: There's opportunities.

Jess: NVIDIA is still making new highs every single day.

Jessie: Valuable company within the stock market.

Jess: Marvell is having some great stuff.

Jessie: IBM is even making some innovative solutions.

Jess: All of them are giving us indication of this astronomical growth that is still occurring.

Jessie: There's still CapEx spending and it's still increasing.

Jess: Maybe it's not the time to add more to it, but keep your positioning and then think about other opportunities because AI has been such a big narrative.

Jessie: It's now a big piece of everyone's portfolio.

Jess: This is where we don't want to get into the overhype if you're already invested.

Jessie: What we do on the show is bring you more food for thought and then teach you all of the resources and tools available to you to do the research for yourself and make the best investing decisions for yourself.

Jess: I like it, food for thought, because we started with you are what you consume.

Jessie: Yeah.

Jess: Food for thought.

Jessie: Let's get the circle of life.

Jess: Okay.

Jessie: Well, I feel like I learned a cornucopia of AI knowledge today.

Jess: Okay.

Jessie: If you found this helpful, you know what to do, share the wealth and share this podcast with someone who you think needs more financial literacy in their life.

Jess: Yes.

Jessie: Let's have a podcast club rather than a book club.

Jess: I've never been to a book club.

Jessie: You haven't? No.

Jess: I don't feel left out.

Jessie: I feel like my whole degree was a book club because I majored in English Lit.

Jess: Oh, yeah.

Jessie: Throw it in the group chat.

Jess: I'd have a podcast club.

Jessie: One time we all came together and made vision boards and I've had my friends come over and we strategize together.

Jess: We had giant sticky notes for each other's jobs.

Jessie: I have a great friend, Fred Group.

Jess: It's very important to your success.

Jessie: I love strategy.

Jess: I do marketing strategy all the time, but I just like strategizing in general.

Jessie: Yeah.

Jess: We talk about stuff.

Jessie: It's great.

Jess: All right.

Jessie: But yes, podcast club.

Jess: Podcast club.

Jessie: Have the podcast club leave a review too.

Jess: Just give us some stars.

Jessie: Thanks.

Jess: Show up.

Jessie: We show up for you.

Jess: You show up for us.

Jessie: It's a win-win.

Jess: We love you.

Jessie: Please rate us in return.

Jess: That's all.

Jessie: We just want you to judge us publicly.

Jess: That's all.

Jessie: And remember, when you build knowledge, you break barriers.

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Jessie: There is always potential to lose money when investing in securities.

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