I’ve been watching AI stocks closely, and one thing stands out to me: this rally is being supported by real spending, not just headlines.
Nvidia just reported $96.2B quarterly revenue, up 106% year over year, while Data Center revenue reached $89B, up 117%. Jensen Huang has also said Nvidia’s chip sales could roughly double in 2027, showing how aggressive the next phase of AI infrastructure could become.
The spending behind this is massive. Reuters reported that Microsoft, Alphabet, Amazon, Meta and Oracle could collectively spend more on AI-related infrastructure than they generate in free cash flow by 2027. Amazon has raised 2026 capital spending expectations to about $220B, while Alphabet lifted its forecast to $195B–$205B and Meta expects $125B–$145B.
At the same time, the market is heating up again. On September 21, the Nasdaq closed at a record high, AMD reached a $1T market cap, and Meta jumped more than 11% after its new AI assistant gained strong early adoption.
So my view is cautiously bullish on the AI theme, but not blindly bullish on every AI stock. Demand looks real. The bigger question is how long spending can keep growing faster than the returns.
And then there is policy. President Trump has announced an “AI Force” and has said AI could eventually represent up to 25% of U.S. GDP. That is a political claim and future projection, not a current economic measurement.
I’m watching NVDA, AMD and META closely. For me, the next phase is about revenue, margins, power capacity and actual AI monetization not hype alone.
#AIStocksWhatNext
Nvidia just reported $96.2B quarterly revenue, up 106% year over year, while Data Center revenue reached $89B, up 117%. Jensen Huang has also said Nvidia’s chip sales could roughly double in 2027, showing how aggressive the next phase of AI infrastructure could become.
The spending behind this is massive. Reuters reported that Microsoft, Alphabet, Amazon, Meta and Oracle could collectively spend more on AI-related infrastructure than they generate in free cash flow by 2027. Amazon has raised 2026 capital spending expectations to about $220B, while Alphabet lifted its forecast to $195B–$205B and Meta expects $125B–$145B.
At the same time, the market is heating up again. On September 21, the Nasdaq closed at a record high, AMD reached a $1T market cap, and Meta jumped more than 11% after its new AI assistant gained strong early adoption.
So my view is cautiously bullish on the AI theme, but not blindly bullish on every AI stock. Demand looks real. The bigger question is how long spending can keep growing faster than the returns.
And then there is policy. President Trump has announced an “AI Force” and has said AI could eventually represent up to 25% of U.S. GDP. That is a political claim and future projection, not a current economic measurement.
I’m watching NVDA, AMD and META closely. For me, the next phase is about revenue, margins, power capacity and actual AI monetization not hype alone.
#AIStocksWhatNext
