I've Bought Every AI Correction Since 2018. Here's My List

BWB - Business With Brian•May 19, 2026

Summary

Brian presents a thesis centered on the 'AI economy,' noting that AI data center spending accounted for 92% of U.S. GDP growth in the first half of 2025. He contends that the common fear of the market being 'too expensive' is misplaced if investors apply a trend-forecasting lens to identify companies that will dominate their sectors over the next five to ten years. Brian emphasizes that even with poor entry timing, high-conviction growth stocks like Palantir have historically outperformed the broader market significantly. His strategy involves identifying structural shifts in technology—such as the transition from licensing to direct chip sales or the move toward high-density, liquid-cooled data centers—and using price pullbacks as entry points for dollar-cost averaging.

Palantir (PLTR): Brian highlights the company's recent selection by the FAA for a $32 billion air traffic modernization program and its massive 133% year-over-year commercial revenue growth. He notes that once the software is integrated into an enterprise, high net dollar retention makes the business a 'margin machine' that is difficult for competitors to displace. Brian believes the current gap between improving fundamentals and the stock price will eventually close as institutional investors are forced to chase the performance.

Applied Digital (APLD): This specialty data center developer focuses on high-density AI factory campuses and recently signed a $7.5 billion lease deal with a hyperscaler. Brian points out that the company's contracted lease backlog of $23 billion is nearly double its current market capitalization, suggesting it is significantly undervalued. He also mentions the spin-off of their cloud business, Chronos Scale, as a strategic move to allow both real estate and cloud segments to scale independently.

Credo Technology (CRDO): Specializing in high-speed interconnects within data centers, Credo is growing rapidly with revenue up 201% year-over-year. Brian emphasizes their power-efficiency advantage, with products running 30% to 50% lower power than competitors, and their successful diversification away from a heavy reliance on Microsoft. With a PEG ratio of 0.9, Brian views this as one of the most attractively priced high-growth names in the semiconductor space.

Amphenol Corporation (APH): Acting as a 'picks and shovels' play, Amphenol provides the physical connectors and cables essential for AI data centers. Brian notes that their orders hit a record $9.4 billion with a book-to-bill ratio of 1.24, indicating demand is outstripping supply. The acquisition of CommScope’s connectivity business further positions them to own the entire signal path in next-generation GPU racks.

Meta Platforms (META): Brian views Meta as a strong buy following a 23% pullback from recent highs, noting that fundamentals like revenue growth and operating margins are actually expanding. He highlights their successful pivot to AI-powered ad targeting and the early success of their Ray-Ban AI glasses as a new consumer wedge. At a PEG ratio of 0.93, he argues the market is underestimating the company's efficiency and growth potential.

Arm Holdings (ARM): Traditionally a licensing business, Arm is shifting its model to sell proprietary chips directly to customers like Meta and OpenAI. Brian points out their incredible 97% gross margins and the fact that their architecture has become the standard for hyperscaler compute due to power efficiency. He views the company as a 'money-printing' royalty business that is now capturing even more value through direct product sales.

Teradyne (TER): This semiconductor testing company saw its stock drop 19% despite beating earnings expectations, a pattern Brian identifies as a buying opportunity. Teradyne's equipment is essential for testing high-bandwidth memory and AI GPUs before they ship to customers. Brian notes that 70% of their revenue is now AI-related, positioning them perfectly for the ongoing buildout of data centers and edge AI.

Canadian Goldfields Discovery Corp: As a pure-play gold explorer in Ontario, this company serves as a strategic play on precious metals required for broader infrastructure. Brian highlights their 10,000-meter drill program in a historically rich gold belt and their strong institutional ownership of 30%. With no debt and significant cash on hand, he sees this as a high-potential setup for early-stage investors.

Summary

Mentioned Stocks