Company Interview / Kylie's stacking up the AI trade

Key points:

AI chip leaders such as Nvidia, AMD, ARM and Intel are driving trading surges and sector strengthFormer hardware and telecom names like Nokia and Dell are being repositioned as AI infrastructure playsRoundhill Memory ETF and select memory-chip stocks are seen as key beneficiaries of an AI-related supply squeeze

Kylie Purcell from Stake outlines how the AI trade remains a dominant theme on Wall Street, led by Nvidia ($NVDA). Purcell notes Nvidia’s blockbuster quarterly numbers and guidance, and points to an 80% jump in Nvidia trades on Stake, largely buy orders as investors seek to “buy the dip”. She also highlights strong momentum in rival chipmakers AMD ($AMD), ARM ($ARM) and Intel ($INTC), with share price gains and record revenues driving record highs in the S&P 500 and Nasdaq, and surging trading activity on the Stake platform.

Purcell describes an “AI glow up” where former hardware and telecom names are being re-rated as AI infrastructure plays. Nokia ($NOK) is cited as a standout, with sentiment boosted by an AI-focused partnership with Nvidia and a new AI lab, which Purcell links to a sharp rise in trading volumes. Dell Technologies ($DELL) is also recast as an AI infrastructure stock, with strong year‑to‑date performance and rapidly increasing trades.

Memory-chip demand is viewed as the next AI bottleneck. Purcell flags the Roundhill Memory ETF ($DRAM) as a key way to access names such as Micron ($MU), SanDisk, SK Hynix and Samsung, and notes rapid inflows. She adds that investors are also chasing the renewed “space race”, using listed space stocks and ETFs with SpaceX exposure as proxies ahead of any IPO.