In a market obsessed with artificial intelligence, this episode follows the race to separate the real winners from the temporary hype. 0:00 AI winners, losers, and the investing roadmap 2:21 Phase 1: The AI scarcity boom 5:31 Why today’s AI winners may not stay winners 7:00 ASML, Nvidia, and durable supply-chain advantages 9:04 The danger of assuming cyclicals are no longer cyclical 11:13 Phase 3: Hyperscalers take control 16:09 Software stocks: AI disruption or rerating opportunity? 20:06 How I’m positioning my portfolio 23:13 Ferrari’s EV and the risk to the brand 27:29 Fail of the week: Colbert, late-night TV, and YouTube disruption

My Investing Plan For The Next 5 Years

The Joseph Carlson Show

# Full Transcript

**Podcast:** The Joseph Carlson Show

## Participants

- **Joseph Carlson** (The Joseph Carlson Show)

## Transcript

Your summer starts now with Memorial Day deals at The Home Depot. It's time to fire up summer cookouts with the Next Grill 4 Burner Gas Grill on special buy for only $199. And entertain all season with the Hampton Bay West Grove 7 Piece Outdoor Dining Set for only $499. This Memorial Day get low prices guaranteed at The Home Depot. While supplies last, price invalid May 14th through May 27th. U.S. only exclusions apply. See homedepot.com slash price match for details.

It's so good. Everything you want for summer is at Nordstrom Rack Stores now and up to 60% off. Stock up and save on the brands you love like Vince, Sam Edelman, Frame, and Free People. Join the Nordic Club to unlock exclusive discounts, shop new arrivals first, and more. Plus, buy online and pick up at your favorite rack store for free. Great brands, great prices. That's why you rack.

There's so many questions revolving artificial intelligence. Which companies are going to benefit from this? We've already seen that many of them have. Micron Technologies just surpassed a trillion dollar market cap. Can it go on? Have things changed? Will it go back down? We also have software companies, ones like Adobe and Salesforce and Intuit going way down. Will they stay down forever or are they going to have a resurgence? We have the big tech leaders. We have the NVIDIA and the Microsofts and the Amazon. What's going to happen with these companies over the next five years?

Well, that's what we're going to be discussing in this episode. I'm going to give you my AI roadmap and how I believe everything will evolve over the next five years. I'll even be walking you through this roadmap with four different phases. We have phase one, the one that we're in now, the scarcity phase. We have phase two, normalization. And then, of course, we have phase three and phase four of how things will evolve over the next five years.

And I'll be going over it in detail, showing you exactly what I think is going to happen and which companies will be the winners and the losers in the process. I'll be going over how I'm positioning my portfolio to take advantage of this in the best risk-adjusted way possible. So we have a ton to get to. It's going to be a lot of fun. Plus, we have a lot of news to get to. For example, Ferrari introduced an EV. It's not being received well. And in today's fail of the week, we have the cancellation of Stephen Colbert's late show. It's come to an end. And a lot of people are blaming Trump.

But Trump is actually not the problem here. The problem is YouTube. We'll be discussing in this fail of the week. So we have a ton to get to in this episode. Let's go ahead and jump in. Now, we start things off today by going over this AI transition. This is, after all, one of the biggest transitions the market has ever faced, is the advent of AI and its unpreced...

My Investing Plan For The Next 5 Years

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

My Investing Plan For The Next 5 Years

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.