Ideas
Populist Fed pressure lifts commodities.
DOJ pressure on Powell and economic populism such as credit-card rate caps and MBS purchases are inflationary for asset and commodity prices; bond investors will demand higher long-term real rates, and gold, silver, uranium, and copper are already rising.
Dovish Fed replacement bullish stocks.
The Fed probe is mostly noise that investors are looking past; a dovish replacement for Powell would be bullish for stocks.
Rotate to international and EM equities.
Eroding Fed independence and dollar weakness are pushing investors toward international value and emerging markets, with South Korea, Mexico, Brazil, Canada, France, Germany, and the UK outperforming the US.
Buy Bitcoin and gold as hedges.
Alongside the rotation away from US assets, investors are also buying Bitcoin and gold as monetary-debasement and safety hedges.
US tech leadership over China.
For the first time in 30 years the US is ahead of China in tech, with Nvidia, Microsoft, and Palantir dictating the AI revolution.
Nuclear is best AI energy solution.
AI's energy bottleneck makes nuclear the best solution; the technology is mastered, modularization is improving, and regulation is the main constraint.
AI growth demands nuclear buildout.
AI adoption is still early, with only 3% of companies on the path versus a potential 20%, and that growth will create an energy shortfall; nuclear is the answer and an important buildout theme.
Nuclear hype ahead of earnings.
Nuclear is the right long-term answer, but execution is years away, no near-term earnings are visible, and prices are ahead of expectations; he has sold nuclear positions and sees CCJ/URA charts as double tops with parabolic action.
LNG is near-term real solution.
Liquid natural gas is a real near-term solution to the AI power bottleneck.
Natural gas basket leads AI.
Energy, including natural gas, will be a huge part of the AI trade this year; natural gas players are key and an energy basket is the best way to play it.
Micron cheap on memory supercycle.
Micron is still cheap with roughly 50% upside; the memory super cycle has only a few core suppliers and should continue into 2026/2027.
Own Micron on memory cycle.
He agrees with the Micron thesis and owns Micron.
Lam Research valuation too expensive.
Lam Research has never been more expensive at 45 times earnings; despite the memory cycle, he cannot get comfortable with the valuation.
Lam forward multiple cheapens in cycle.
Lam Research's 45x multiple likely falls to low 30s on forward numbers; the memory super cycle probably runs until 2027, supporting picks-and-shovels suppliers.
Physical AI robotics theme bullish.
CES showed physical AI arriving through robotics and autonomous systems; this fourth industrial revolution is bullish for robotics.
Tesla wins in physical AI.
Tesla and Nvidia are the two winners in physical AI/autonomous; Nvidia's autonomous push is bullish for physical AI rather than a negative for Tesla.
Nvidia undervalues physical and sovereign AI.
Nvidia is a major disconnect because investors value only its data-center business, not physical AI or sovereign AI; he sees $250-$275 as the right price and does not think Nvidia is a bubble.
OpenAI funding risk threatens semis.
OpenAI's massive financing and $1 trillion obligations underpin the AI ecosystem; if OpenAI can no longer raise money, the semiconductor trade is done, creating a conditional risk for AI semis.
Oracle AI cloud growth accelerates.
Oracle is a table-pounder; AI cloud growth accelerates from 17% to 30% to 50%, and he thinks the stock ends the year at $275.
CoreWeave has Nvidia backstop.
CoreWeave has an Nvidia backstop/put for excess capacity, and Nvidia is a much better counterparty than OpenAI, making CoreWeave's position stronger.
Austin Campbell
Founder, Zero Knowledge Group; Co-host Bits+Bips (Unchained); Adj. Prof. NYU Stern
33:45
Google distribution beats OpenAI bets.
Google has existing distribution and product-market fit with Gemini integrated into devices like Pixel headphones, while OpenAI is making bets without product-market fit.
Austin Campbell
Founder, Zero Knowledge Group; Co-host Bits+Bips (Unchained); Adj. Prof. NYU Stern
43:39
Community banks losing relevance.
Community banks are losing to fintech banks and GSIBs because of worse digital experience and product breadth; they are struggling for relevance unless they find a pathway to modernize.
SoFi succeeds via digital bank pivot.
SoFi acquired a community bank and modernized it with digital technology and marketing, which drove success; similar pivots are opportunities for community banks.
Austin Campbell
Founder, Zero Knowledge Group; Co-host Bits+Bips (Unchained); Adj. Prof. NYU Stern
52:07
Bitcoin hedges central bank trust erosion.
If people lose trust in fiat currency or central banks, they will substitute into Bitcoin; Bitcoin is permissionless and non-interdictable, unlike stablecoins, making it a hedge against worst-case political behavior.
This Unchained (Chopping Block) video, published January 15, 2026,
features Ram Ahluwalia, Dan Ives, Chris Perkins, Austin Campbell
discussing GLD, SILVER, URA, COPPER, SPY, International value stocks, EEM, EWY, EWW, EWZ, EWC, EWQ, EWG, EWU, BTC, XLK, CCJ, LNG, UNG, XLE, MU, LRCX, ROBO, Physical AI, TSLA, NVDA, SMH, ORCL, CoreWeave, GOOG, KRE, SOFI.
24 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Ram Ahluwalia,
Dan Ives,
Chris Perkins,
Austin Campbell
· Tickers:
GLD,
SILVER,
URA,
COPPER,
SPY,
International value stocks,
EEM,
EWY,
EWW,
EWZ,
EWC,
EWQ,
EWG,
EWU,
BTC,
XLK,
CCJ,
LNG,
UNG,
XLE,
MU,
LRCX,
ROBO,
Physical AI,
TSLA,
NVDA,
SMH,
ORCL,
CoreWeave,
GOOG,
KRE,
SOFI
