The AI Stock Nobody Understands

**Dave** (0:00)
AI is not running out of GPUs, it's running out of electricity. Even NVIDIA's CEO Jensen Wong has explicitly called energy the bottleneck for AI development. And the data centers behind the AI boom aren't only looking for cheap kilowatts, they're looking for a power source that can run 24-7 with no downtime, that can cool itself, that can plug straight into NVIDIA's racks at 800 volts. And there's one company claiming it can do all of that. For the last 20 years, they've been quietly building tech that they say is perfect for this exact use case. Most investors still think it's a science project. Some think it's a bubble, and some investors think that their stock could be a 5X run-up from here. Today on Dumb Money, we're going to break down the AI energy trade and why Bloom Energy could be the AI stock that nobody understands.

**Chris** (0:49)
This is Dumb Money Live.

**Dave** (0:54)
Hey there, Dave here, along with Chris and Jordan. We are Dumb Money. Welcome to Dumb Money Live. Where did Chris and Jordan go? There they are. It's been quite a morning this morning. We were watching the stock market fall apart. Oh, quick reminder, if you haven't done it already, smash the like button, like the smash button. The almighty algorithm needs that. But yes, Chris, Jordan, it is really remarkable that we all made it here this morning. We'll let our audience in a little behind the scenes magic here. The three of us were out together IRL for the first time in a long time.
We were at Chris' bar, a little reunion of the Varsity team from our first startup company together. Fun times. Jordan, you were telling me how good you're feeling this morning.

**Jordan** (1:33)
I had like five or six old fashions, I think.

**Dave** (1:36)
About four or too many. It was just like one is done and the next one comes.

**Chris** (1:43)
Let me tell you something, Jordan. I had three Heineken 00s. And I feel awesome.

**Jordan** (1:50)
Way smarter. I couldn't go on something like that. I'm supposed to go to a holiday thing tonight too. And I'm like, oh no, man. I don't know if I can.

**Dave** (1:57)
It is the season.

**Jordan** (1:59)
Do they make NA wine? Because that's what I'm feeling for tonight.

**Chris** (2:04)
Dude, I'm telling you, man, like I could have had a drink, but I just have gotten so accustomed to drinking. It's not alcohol. It's beer and I love feeling great in the morning.

**Jordan** (2:17)
Well, that's the thing. I don't drink like at all. During the week, normally, but then the holidays come around and it's like drinking event after drinking event. And then, oh, yeah.

**Chris** (2:28)
Yeah, the way we did.

**Dave** (2:30)
Let's get on track because people aren't here to hear about our-

**Chris** (2:34)
After I left on my table.

**Dave** (2:36)
No, no, that was a chat that was going on in our group chat. They were talking about the last time we got together.

**Chris** (2:43)
Yeah. And Miller Spillard. So he didn't do it again. Okay. Because I would have felt bad.

**Dave** (2:49)
He didn't do it again. No. He replied that he was on his best behavior.

**Chris** (2:53)
Okay.

**Jordan** (2:54)
Did I Irish goodbye yesterday? Did I just bounce?

**Chris** (2:56)
I know me and Dave did.

**Jordan** (3:01)
I went to the restroom and I'm like, oh, I should order a lift. And then it showed up and I'm like, well.

**Dave** (3:06)
We looked over and half the group had kind of scattered and we're like, this is our cue. Let's go.

**Chris** (3:13)
By the way, let me just state something right now. This, that was the first night ever that our group had turned the corner and people started going up. Has that ever happened before? Usually, at least two-thirds are going all night. That, that, that.

**Dave** (3:29)
Yeah.

**Chris** (3:29)
That's shocking.

**Dave** (3:30)
We were still getting texts at one in the morning, so I don't know at what time the last, the last dude fell, but.

**Jordan** (3:38)
I got home at 1130 and I was like, I haven't gone to bed at 1130 in like a decade.

**Dave** (3:45)
Well, you got home at 1130, you're a far Uber ride, so.

**Chris** (3:48)
Yeah. Wait, are you saying that that 1130 is late for you?

**Jordan** (3:52)
Oh yeah. Oh yeah. Oh, I go to bed at 845 or 9

**Chris** (3:59)
Are you serious?

**Jordan** (4:00)
Dead serious. It's amazing.

**Chris** (4:03)
Oh, I'm like 2 a.m. every night.

**Jordan** (4:05)
Oh, no.