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Good morning, everyone! Dylan Jovine here from Behind the Markets. Happy Tuesday—it’s February 11th, and today I want to talk about something critical for investors watching the AI boom: capital spending. Yesterday, we covered how Amazon, Google, Meta, Microsoft, and other tech giants are collectively committing $325 billion in capital expenditures for 2025. This is an unprecedented spending spree, mainly focused on data centers and AI infrastructure, and in pure dollar terms, it rivals the dot-com boom. But here’s the catch—will these companies ever see a return on this massive investment? There’s a key lesson from Warren Buffett and Ben Graham in The Intelligent Investor about the airline industry of the 1960s. In 1960, airlines flew 10 million passengers a year. By 1970, that number skyrocketed to 100 million—a massive 10x increase. But despite that growth, the industry lost $2.3 billion over the decade due to overinvestment. Sound familiar? When companies increase spending at a much higher rate than revenue, margins shrink and stock prices fall. Microsoft’s CapEx is up 80%, but their revenue is only expected to grow 13%. Meta is spending 74% more while revenue is rising just 14.6%. This is a massive red flag that investors need to watch closely. We’re seeing the famous four words that always precede market bubbles: “This time is different.” It’s never different. This AI arms race could be setting up for a major reckoning. If these companies don’t show meaningful returns on their spending, this could be the trigger that finally pops the AI bubble. ✅ SUBSCRIBE TO THE CHANNEL 👇🏼👇🏼 https://www.youtube.com/channel/UCczJ4YRRQLl6KrH06iapaRw?sub_confirmation=1 ✅ SIGN UP FOR DYLAN'S DIARY HERE 👇🏼👇🏼 https://go.behindthemarkets.com/dylans-diary-sign-up/ ✅ VISIT OUR WEBSITE 👇🏼👇🏼 https://behindthemarkets.com/
YouTube Video VVVjeko0WVJSUUxsNktySDA2aWFwYVJ3LmQ2WW1PSnFoVzRV

Dylan Jovine | AI Boom or Bubble? Why $325B in Spending Could Trigger a Crash!

Good morning, everyone! Dylan Jovine here from Behind the Markets. Happy Monday—it’s February 10th, and apparently, it’s National Football Hangover Day. I watched the game at a buddy’s house (as I do every year), and let me tell you—I cannot be trusted around those massive Costco biscotti containers. Absolutely addictive. But today, I want to talk about something big: AI capital spending. Last week, Amazon reported earnings, and while their top-line growth disappointed at 3-4%, what really caught my eye was their $105 billion planned capital expenditure—a 35% increase, primarily going toward AI infrastructure. And they’re not alone. Google’s Alphabet is planning to spend $75 billion (up 50%), Meta is committing $65 billion (up 40%), and Microsoft is nearly doubling its AI spending to $84 billion in just two years. That’s hundreds of billions of dollars flowing into AI infrastructure. What does this mean? First, the DeepSeek AI revelation hasn’t changed Big Tech’s aggressive AI expansion—at least not yet. They’re still spending massive amounts, and NVIDIA remains a clear winner in the short term. But there are other companies poised to benefit, including Broadcom, Micron Technology, and Amphenol. However, the most compelling AI investment right now? The company that designs NVIDIA’s chips and holds a near-monopoly in chip architecture—a firm so valuable that NVIDIA itself tried to buy them, only to be blocked by the Biden administration. With Trump back in office, M&A activity is expected to surge, and this company is at the top of my takeover target list. If you’re serious about investing in the AI boom beyond just NVIDIA, this is the play. ✅ SUBSCRIBE TO THE CHANNEL 👇🏼👇🏼 https://www.youtube.com/channel/UCczJ4YRRQLl6KrH06iapaRw?sub_confirmation=1 ✅ SIGN UP FOR DYLAN'S DIARY HERE 👇🏼👇🏼 https://go.behindthemarkets.com/dylans-diary-sign-up/ ✅ VISIT OUR WEBSITE 👇🏼👇🏼 https://behindthemarkets.com/
YouTube Video VVVjeko0WVJSUUxsNktySDA2aWFwYVJ3LkxydHdaUU5OSFFF

Dylan Jovine | AI Spending Hits $300B: The Next Big Winner.. And It's NOT NVIDIA

Good morning, everyone! Dylan Jovine here from Behind the Markets. Happy Friday—it’s February 7th, and after a non-stop, intense few weeks, I’m looking forward to some relaxation this weekend. My son has a basketball game tomorrow, and I’m excited to watch him play. But before we head into the weekend, let’s talk about something I haven’t covered in a while—Eli Lilly. This week, Eli Lilly reported blowout earnings, with revenue up 45% and profitability increasing 1.3%. That’s the sign of a well-run company—strong top-line growth without costs rising as fast. We first recommended Eli Lilly on May 16, 2023, at $434—today, it’s trading around $850, a near 100% gain. And the driving force? GLP-1 weight loss and diabetes drugs like Mounjaro and Ozempic. This is already a $20 billion-a-year business, growing at a staggering 128% annually—and it’s only getting started. These drugs aren’t just for weight loss. Eli Lilly and Novo Nordisk are testing them for heart disease, kidney disease, sleep apnea, fatty liver, inflammation, even addiction. If even half of these indications get approved, this will be a generational megatrend. Despite the biotech sector getting crushed in the last few months while money chases AI and data centers, I believe biotech is setting up for a massive resurgence—especially with cancer drug takeovers heating up as Merck’s Keytruda comes off patent. That’s why I remain long-term bullish on Eli Lilly and why I’m excited about the opportunities we’re uncovering in Biotech Insider. If you’re not paying attention to this space, you’re missing out on one of the most exciting revolutions in medicine. ✅ SUBSCRIBE TO THE CHANNEL 👇🏼👇🏼 https://www.youtube.com/channel/UCczJ4YRRQLl6KrH06iapaRw?sub_confirmation=1 ✅ SIGN UP FOR DYLAN'S DIARY HERE 👇🏼👇🏼 https://go.behindthemarkets.com/dylans-diary-sign-up/ ✅ VISIT OUR WEBSITE 👇🏼👇🏼 https://behindthemarkets.com/
YouTube Video VVVjeko0WVJSUUxsNktySDA2aWFwYVJ3LldBSUlPNkZldlRv

Dylan Jovine | Eli Lilly’s $20B Breakthrough: Gold Rush in Cancer Therapy

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July 23, 2021 – PPD (Updates ALEC, DSSI)

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