![\"A](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/11\/GettyImages-851956402-1-1200x675.jpg\")
<\/p>\n<\/p>\n
Image source: Getty Images<\/p>\n
The talk at the moment isn’t about whether artificial intelligence<\/a> stocks are in a bubble; it’s more about when that bubble will burst.<\/p>\n Large language models like\u00a0OpenAI’s\u00a0ChatGPT and\u00a0Anthropic’s\u00a0Claude are increasingly being used by businesses, and the promises about efficiency gains are coming thick and fast.<\/p>\n And on the listed company front, it seems every second press release is touting the ability of AI to revolutionise how things are done.<\/p>\n Infrastructure the key <\/p>\n In the midst of all of this hype, it can be hard to sort the wheat from the chaff, but Wilsons Advisory has applied a tried-and-true method to finding value.<\/p>\n In a recent report about the AGM season so far, they call out Goodman Group (ASX: GMG<\/a>) as their preferred “picks and shovels” pick in the AI space.<\/p>\n The picks and shovels strategy dates back to the gold rushes of the past, the idea being that while only a few prospectors might strike gold<\/a>, the people selling them their picks and shovels will always prosper.<\/p>\n Wilsons Advisory said in a recent research note to clients that the $62.4 billion Goodman, which has been investing heavily in rolling out data centres, recently delivered a positive first quarter update, “albeit slightly below elevated investor expectations”.<\/p>\n As Wilsons said:<\/p>\n Overall, Goodman’s first quarter update highlights disciplined execution of its data centre pipeline. With the US reporting season showing robust hyperscaler capex amidst AI investment cycles, we view Goodman as a key ASX beneficiary of the AI thematic, given its pipeline is focused on low-latency metro locations that are central to serving cloud and related AI requirements. \u00a0\u00a0<\/p>\n Wilsons said following a pullback of about 15% since mid-August, “Goodman offers clear valuation\u00a0support at a forward price to earnings ratio <\/a>of 22.5 times \u2013 in line with its 10-year average and at a circa-10% discount to its five-year average \u2013 despite its growing exposure to the AI tailwinds, which should support low-teens earnings per share growth over the medium to long term”.<\/p>\n