In the latest episode of Ticker Take, I spoke with Hatem Dhiab of Gerber Kawasaki Wealth & Investment Management about a simpler way to approach AI investing.
His view is that investors may be overthinking the trade. Instead of chasing dozens of names, Dhiab focuses on what he calls the “Core 4,” four companies at the heart of the AI economy. Together, they form the essential building blocks of the AI buildout: chips, memory, connectivity, and power.
Artificial intelligence has become one of the biggest investment stories of the decade.
But the trade has gotten more complicated. Dozens of AI-related stocks are emerging, new players are popping up all the time, and investors are debating which companies will be the long-term winners. Some are worried hyperscalers are overspending, while others are concerned AI could disrupt parts of the software industry.
In the latest episode of Ticker Take, I spoke with Hatem Dhiab of Gerber Kawasaki Wealth & Investment Management about a simpler way to approach AI investing.
His view is that investors may be overthinking the trade. Instead of chasing dozens of names, Dhiab focuses on what he calls the “Core 4,” four companies at the heart of the AI economy. Together, they form the essential building blocks of the AI buildout: chips, memory, connectivity, and power.
Dhiab’s approach is grounded in identifying companies with leadership positions, strong execution, and direct exposure to the infrastructure driving AI forward. In other words, a “picks and shovels” strategy for the AI era.
Here are the four stocks at the core of his thesis, plus one bonus idea. As always, this is not financial advice.
Nvidia sits at the center of the AI revolution. The company has evolved from its origins in gaming GPUs into the dominant provider of AI compute. Its CUDA software platform and rapid pace of innovation, with meaningful performance gains generation after generation, have helped create a significant competitive moat. Dhiab points to Nvidia’s leadership and ability to consistently push the boundaries of what is possible in AI processing.
Micron is playing a critical role through high-bandwidth memory (HBM), which is essential for AI workloads. The company has shifted away from a more traditional, cyclical DRAM model toward higher-margin AI-driven demand. With supply tight and demand from GPU clusters accelerating, Micron has improved visibility and pricing power, positioning it to benefit from the memory side of the AI buildout.
Amphenol represents the “connections” layer of AI infrastructure. Its cables and interconnect solutions are essential for linking together large-scale data center systems. As AI clusters grow in size and complexity, the need for fast, reliable connectivity becomes increasingly important. Dhiab sees Amphenol as a key enabler of that scaling process, across both copper and optical technologies.
AI does not run without power, and that is where GE Vernova comes in. The company provides turbines, grid solutions, and electrification infrastructure needed to support rising electricity demand from data centers. As AI investment drives a surge in energy consumption, GE Vernova has seen growing demand and an expanding backlog tied to this trend.
Bonus Pick: Netflix (NFLX)
Beyond the Core 4, Dhiab highlights Netflix as a company that could benefit from the broader AI era. While not part of the infrastructure layer, Netflix is leveraging technology to improve personalization and efficiency. He also points to disciplined decision-making, including walking away from a more expensive Warner Bros.-related opportunity, as a positive signal for investors. It is less about building AI, and more about benefiting from it.
The Ticker Take
The AI opportunity is often framed as a wide-open field with countless potential winners. The Core 4 offers a more focused approach. Own the companies providing the essential layers that make the entire ecosystem possible.
It may not capture every part of the upside, but that kind of simplicity could be an edge.
Jon Erlichman is a BNN Bloomberg contributor and the host of Ticker Take on YouTube.