Episode summary
Dylan Jovine | 9 AI Stocks Set to Surge + The Hidden Winner Nobody Is Talking About
Summary
Dylan Jovine argues that AI is entering a new phase beyond chatbots and simple prompt responses: agentic AI, where systems can plan tasks and act on their own. He says this shift, alongside robotics, is changing which parts of the semiconductor stack matter most, with CPUs and memory becoming more important as AI workloads become more multi-step and autonomous. That is why he points to rallies in Intel and Arm, while saying Nvidia has been consolidating.
He cites Morgan Stanley’s list of nine beneficiaries in the next phase of AI: Nvidia, AMD, Intel, and Arm in CPUs and accelerators; Micron, Samsung, and SK Hynix in memory; and TSMC and ASML in chipmaking and equipment. But he argues the report misses a hidden winner: semiconductor packaging companies. As chips become more complex, he says packaging is becoming a higher-value service, not just a low-margin wrapping step.
Jovine’s main investment thesis is that the AI boom is moving up the value chain. In his view, packaging firms stand to benefit as their biggest customers sell more chips and require more advanced assembly and integration work.
Key takeaways
- Dylan Jovine says agentic AI will shift demand beyond GPUs toward CPUs, memory, and infrastructure as AI systems take on autonomous tasks.
- Morgan Stanley’s nine-stock list includes Nvidia, AMD, Intel, Arm, Micron, Samsung, SK Hynix, TSMC, and ASML.
- Jovine argues semiconductor packaging companies are the overlooked beneficiaries because they are moving up the value chain.
- He says packaging firms should gain as chip designs become more complex and their major customers need more advanced assembly services.
Notable quotes
“Agentic AI is AI where you can assign it a task”
“they think are going to be super important given a big change that is happening with AI right now”
“CPUs are going to burst. Now, they list nine stocks as potential beneficiaries of this move”
“All of these chip companies are going to need to package their chips”
How the episode opens
Good morning. This is Dylan Jovaneau behind the markets. Happy Wednesday.
Today's Wednesday, April 22nd. What an amazing webinar we had yesterday. It was our most well-attended, such a success.
And I want to thank all of you who attended. And I want to follow up. It really dovetails well into a new note out from Morgan Stanley on six chip stocks.
Actually nine chip stocks that they've put out there that they think are going to be super important given a big change that is happening with AI right now. And I want to talk about that change first. First of all, Morgan Stanley, in their note, they talk about these autonomous artificial intelligence units.
They're really saying that agentic AI, which is AI that can plan tasks and take actions on their own rather than simply responding to prompts. And this really speaks to how AI is about to undergo a massive change. There are two ways AI is going to undergo a massive change.
One of them is robotics. The other one is agentic AI, AI acting as an agent. Let me explain exactly what that means cuz it sounds like it's from outer space.
Right now, you go to ChatGPT or Claude or whatever, and Genesis, Google Gemini is great, and you type in something, "Where does this come from? And it just tells you what it is. It gives you an AI answer, and it's all great.
Agentic AI is different. Agentic AI is AI where you can assign it a task. Say, "Every morning, I want you to have my numbers on my desk ready for me at 6:00 a.m.
And further, I want you to tap into this database and that database to present those numbers and present them to look like this. And every morning, on its own, the AI will do that.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- agentic ai
- ai semiconductors
- cpu vs gpu
- semiconductor packaging
- ai infrastructure
Companies and tickers mentioned
- MS
- INTC
- ARM
- NVDA
- Morgan Stanley
- Intel
- Arm
- Nvidia
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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