“AI can benefit humanity in the form of free doctors, free tutors, free education, more media and entertainment, better wealth advisors and lawyers, more robotics, better digital health, better materials design; much better resource discovery: lithium, cobalt, nickel – the hard-atom stuff that tech optimists usually don't talk about.” – Vinod Khosla, November 12, 2023

“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries, and nations." – Jensen Huang, February 22, 2024

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Source: Bloomberg, Fundstrat. Performance in parentheses is absolute since date added to the Granny Shots portfolio. All charts rebased to the date the stock was added to the Granny Shots portfolio. Arista Networks in a Super Granny, Tesla is a Sleeper Granny.

The landscape

The players in the world of AI are, without exception, characterized by overweening ambition and a hypercharged amalgam of FOMO and YOLO. AI as a moniker (in the sense of adding “AI” to anything and everything) is, in part, a fad, but AI as machine-learning models powered by GPU training* at the bleeding edge certainly has every chance of being transformational for many industries.

Among consumer-facing companies there are AI...

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