AI’s Gold Rush: Tech Winners, Job Shake-Ups, and Powering the Boom

The AI boom in tech is in full swing, pushing stocks to new highs and reshaping industries. As an investor, I see this moment as a modern gold rush. Like every gold rush, though, it won’t last forever. Even OpenAI CEO Sam Altman has admitted that AI looks like a bubble. I agree — eventually this boom will turn into a bust. But for now, the music is still playing, and in my view, the best gains are still ahead.

To learn more, watch this week’s Being Exponential podcast, focusing on the AI rally’s winners, its pitfalls, and how we’re powering this exponential era:

Riding the AI Wave: For Now, Not Forever

I’ve said it before: every boom turns into a bust. That’s just how capitalism works. Think back to the dot-com bubble. Internet stocks soared in the late 1990s, peaked in 2000, and then crashed. But here’s the thing — the biggest gains of that era came in its final innings. That’s exactly where I believe we are with AI today.

Tech stocks in the 2020s have been tracking the dot-com boom almost perfectly. If the pattern holds, the most explosive phase is right around the corner. I don’t think it’s time to exit AI stocks. Instead, I want to ride the rally while it’s alive … and be ready to grab a chair when the music stops.

Take Nvidia (NVDA).

The company just posted stellar earnings: revenue up more than 50% year over year, data-center sales booming, and strong guidance for more growth ahead.

Yet the stock dipped a few percent afterward. To me, that shows investors are cautious — but it doesn’t change my thesis.

I see Nvidia as the Qualcomm of this era, the must-own chipmaker of the AI boom. At 25× forward earnings with ~30% annual profit growth potential, I’m a buyer on weakness.

I expect Nvidia to have a blockbuster final act in this cycle.

AI Stock Winners: Who’s Firing on All Cylinders

Not all companies are sharing equally in the AI wave. Some are clear winners, with reaccelerating growth and expanding margins. Those are the ones I want to own.

They include:

• CrowdStrike (CRWD) – AI adoption creates more data and more cyber threats. CrowdStrike’s AI-powered security platform protects that larger attack surface. Last quarter, the company delivered a clean beat-and-raise, with revenue growth accelerating again and margins expanding. I see CrowdStrike as a durable AI winner.
• Snowflake (SNOW) – More AI apps mean more data to manage. Snowflake provides the data backbone enterprises need. It just posted its first quarter of reaccelerating growth since early 2024, with revenue up 32% and profits surging. The stock recently broke out to new highs, and I think it has a path back toward its all-time peak if this trend continues.
• Pure Storage (PSTG) – This is a quiet AI beneficiary. Meta is now using Pure Storage’s flash technology for AI data centers. Revenue is climbing, margins are improving, and the stock just hit multi-year highs. I see it as another company firing on all cylinders.
• Autodesk (ADSK) – Here’s an established software name reinventing itself with AI. Autodesk is benefiting both from AI data center buildouts (construction software) and from adding AI features into its design products. Growth is solid, margins are expanding, and the stock still looks reasonably valued.

Other names I’m bullish on include Marvell Technology (MRVL), which is helping tech giants build custom AI chips, and Ambarella (AMBA), which makes vision chips for robots, drones, and other edge AI devices. These aren’t just side plays — they’re the picks and shovels that make the AI revolution possible.

The Flip Side: AI’s Impact on Jobs and Wealth

Of course, not everything about this boom is rosy.

I’ve been warning that AI is reshaping the labor market — and not in everyone’s favor. A recent Stanford study confirmed what I’ve been saying: since the launch of ChatGPT, employment for 22- to 25-year-olds in AI-exposed jobs has dropped 13%. Young software developers and customer service reps have been hit hardest.

Look at Salesforce (CRM) as an example.

The company cut 4,000 customer service jobs after deploying AI chatbots — and its stock added more than $100 billion in value at the same time.

That’s the AI wealth divide in action: capital owners are getting richer, while wage earners are being squeezed out.

This is why I keep pounding the table: if you want to hedge against AI’s risks, you need to be invested in the companies leading the boom.

The labor class is losing out. The capital class is winning. And you want to be on the winning side.

Powering the AI Revolution

There’s also the question of energy.

AI takes enormous power. A single ChatGPT query consumes almost 10× the electricity of a Google search.

Data center energy use could more than double by 2030. Big Tech knows this, and they’re moving aggressively into nuclear.

Microsoft (MSFT) is restarting the old Three Mile Island plant to power its AI data centers. Amazon (AMZN) bought a nuclear-powered data center campus.

Alphabet (GOOGL) is investing in nuclear fusion. Nuclear will be the long-term energy source for AI.

But in the short term, natural gas will probably fill the gap until nuclear capacity ramps up.

Enabling the Next Leap: Better Batteries

AI isn’t just in the cloud. It’s moving into devices — from smart glasses to drones. That means batteries matter more than ever.

Enovix (ENVX) just announced a breakthrough: its new battery charges to 80% in under 30 minutes, roughly twice as fast as today’s smartphone batteries.

If Apple (AAPL), Meta (META), or Samsung adopt it, Enovix could see explosive growth.

I see it as a compelling long-term AI battery play.

The Bottom Line: Play Ball

The AI revolution is creating enormous opportunities — and risks.

Yes, this boom will eventually turn into a bust. But I believe we still have 12 to 24 months of powerful gains ahead.

My advice is simple: play ball. Don’t sit this one out.

Own the companies proving themselves as AI winners — names like Nvidia, CrowdStrike, Snowflake, Pure Storage, and others.

The gold rush won’t last forever, but while it does, you want to be “AI with AI” (all-in with AI).

(For more in-depth discussion and stock-specific analysis, be sure to listen to the full podcast episode. And stay tuned – next week the team teases a dive into humanoid robots, which could be another game-changer on the horizon.)