Is AI in a bubble? Cameron Gleeson on the barbell strategy for AI investing.
About this episode
The episode discusses the implications of AI on investing, exploring the supply chain and the barbell strategy for AI investments.
AI is one of the biggest investing themes in markets right now, but the smarter question is not just whether OpenAI, Anthropic or Nvidia win. It is who else makes money when AI demand explodes. In this Australian Finance Podcast episode, Owen Rask is joined by Cameron Gleeson from Betashares to unpack the AI supply chain from hyperscalers, semiconductors and cloud infrastructure through to copper, energy, uranium and the broader commodities complex needed to build and power data centres. They discuss whether AI already looks like a bubble, who is making the money across the hardware, cloud and application layers, and why listed-market investors may need to think beyond the obvious names. The conversation also explores ETFs such as NDQ, ASIA, XMET, FUEL, QAU and MNRS, plus the case for a barbell portfolio that blends technology exposure with hard assets. If you want a practical, non-hype guide to investing in AI beyond the chatbot headlines, this episode is a strong place to start. Episode resources – Buy Gemma’s book “The Money Reset” – Speak with the Rask Advice team – Ask a question (select the Finance podcast) Show partner resources – Join Pearler using code “RASK” for $15 of…
Sponsors
Pearler, PocketSmith
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