Ideas
OpenAI wins biggest IPO on retail.
Ejaaz picks OpenAI as the biggest IPO of 2026 because more people understand the AI play than space, retail and long-term investors will buy, and there are fewer Elon-related detractors than SpaceX faces.
SpaceX undervalued ahead of biggest IPO.
Josh expects SpaceX to be the biggest IPO of 2026, saying the rumored $1.5T valuation is undervalued and it could eclipse a $2T market cap; he also links it to the GPUs-in-space proof of concept if Starship works.
Amazon AI chips and AWS underappreciated.
Ejaaz thinks Amazon is slept on, with Trainium chips used more than expected and AWS positioned for AI because it is creating AI factories.
GPUs remain top AI trade.
Ejaaz says GPUs remain the sector he wants to long in 2026, saying GPUs are going to kill; he also agrees AMD is another GPU name to be excited about.
Samsung new fabs and Elon deal.
Ejaaz expects Samsung to do very well next year because it has new chip fabs and is working with Elon.
Tesla dominates autonomy, robots, energy.
Josh is unfathomably bullish on Tesla because it can change global transportation through autonomy, has a massive humanoid robot line, and a giant energy business in batteries and solar; these pillars position it to crush 2026.
Picks-and-shovels AI semis will win.
Josh prefers the picks-and-shovels AI trade: Nvidia, TSM, ASML, and AVago/Broadcom, because compute, foundry, lithography, and networking are required to build data centers quickly and the companies capable of putting them together should win.
Energy powers AI data center buildout.
Ejaaz says data centers and GPUs will not work without energy, so he expects large investment in energy grids next year and is long the energy sector big time.
Meta lacks new frontier model.
Ejaaz is bearish Meta for 2026 because he does not see it turning around a new frontier model and thinks it spent too much money on the wrong types of people to build models; he expects it to play out similarly to the metaverse.
Neoclouds look bubbly and pyramid-like.
Ejaaz is bullish GPUs but bearish neoclouds because too many cloud/neocloud providers are supplying GPUs, making the sector bubbly and pyramid-like; he expects a slight collapse.
Short SaaS, long Big Tech.
Josh is shorting a basket of SaaS companies because seat-based software with weak moats has low switching costs and AI can automate applications with an engine and a few prompts; he frames the trade as long Big Tech, short SaaS.
Short SaaS, long Big Tech.
Josh is shorting a basket of SaaS companies because seat-based software with weak moats has low switching costs and AI can automate applications with an engine and a few prompts; he frames the trade as long Big Tech, short SaaS.
Oracle OpenAI deal payment risk.
Ejaaz expects OpenAI partnership/circular-economy bubbles to burst, specifically saying OpenAI cannot pay $100B next year under its $300B Oracle deal while losing money, implying collapse risk for that deal and Oracle-linked revenue.
Apple AI comeback via Google Gemini.
Josh expects Apple to be the comeback player as it outsources intelligence to Google/Gemini, similar to using Google for Safari search; edge compute makes inference free for developers, incentivizing building on iPhones while Apple focuses on the user experience.
Anthropic dominates coding AI, IPO upside.
Ejaaz expects Anthropic to win model usage dominance with Claude because coding is the most-used context, and he expects it to IPO at a high valuation that rises as more investors realize Anthropic dominates coding AI, the ultimate intelligence to own.
ChatGPT sustains dominant usage share.
Josh expects OpenAI/ChatGPT to remain the default for greater than 50% of usage next year because it still has something like 80% user share and competitors are gaining share slowly; he sees it eventually resting around 25-30%.
AI bears will be badly hurt.
Josh says the biggest loser of 2026 will be the bears; anyone bearish on the AI industry or trying to short the coming wave will be badly hurt, implying broad continued AI upside.
Microsoft AI products losing customers.
Ejaaz calls Microsoft the biggest loser of 2026 because revised numbers show fewer customers using its AI models/features, it has a poor ability to ship good AI products, and Mustafa Suleyman is doing a bad job; its best AI asset is the OpenAI investment, not its own products.
Google most valuable AI company.
Josh expects Google to be the most valuable AI company by the end of 2026 because it continues AI dominance, builds TPUs for in-house compute and will start selling them, has best models and execution, and can outpace Nvidia in market-cap growth.
Gemini becomes top intelligence model.
Ejaaz argues Google Gemini will be the best model by intelligence by end-2026 because Google leads in world models with Genie 3, has nailed multimodality, and has the best video and audio models that feed back into Gemini.
This Bankless video, published January 02, 2026,
features Ejaaz Ahamadeen, Josh Kale
discussing OPENAI, SPCX, AMZN, GPUS, AMD, 005930.KS, TSLA, NVDA, TSM, ASML, AVGO, XLE, META, Neoclouds, XLK, SaaS companies, ORCL, AAPL, ANTHROPIC, AI industry, MSFT, GOOG.
20 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Ejaaz Ahamadeen,
Josh Kale
· Tickers:
OPENAI,
SPCX,
AMZN,
GPUS,
AMD,
005930.KS,
TSLA,
NVDA,
TSM,
ASML,
AVGO,
XLE,
META,
Neoclouds,
XLK,
SaaS companies,
ORCL,
AAPL,
ANTHROPIC,
AI industry,
MSFT,
GOOG
