Investor Chris Camillo Predicts The ‘Last Easy Trade’ of the AI Supercycle Is About to Start

Quick Read

• Chris Camillo says the AI supercycle’s Wave 3 “efficiency wave” (companies utilizing AI to chopped costs) is the “last casual trade” that investors person not afloat priced in.

• Camillo expects Wave 3 winners to travel from cost-heavy businesses with ample lawsuit service, admin, and logistics workforces that thrust operating borderline expansion.

• The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Bloom Energy wasn't 1 of them. Get them present FREE.

Retail capitalist Chris Camillo, big of the Dumb Money Live transmission and a practitioner of what helium calls "social arbitrage," laid retired a sweeping model for the AI concern rhythm connected a caller occurrence of The Iced Coffee Hour with hosts Graham Stephan and Jack Selby. His halfway statement was simple. The archetypal 2 phases of the AI roar already created monolithic winners, but the adjacent signifier whitethorn nutrient the clearest concern setup yet.

Camillo believes the “last casual trade” of the AI supercycle is astir to begin, and helium says helium has spent astir 3 years waiting for it.

The AI Boom May Be Entering Its "Productivity" Phase

Camillo breaks the AI rhythm into 3 waves:

The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Bloom Energy wasn't 1 of them. Get them present FREE.

Wave 1 was the infinitesimal AI became consumer-facing. Large connection models abruptly showed radical that AI could write, reason, and interact successful ways that felt dramatically antithetic from earlier bundle tools. That triggered the archetypal question of excitement crossed the market.

Wave 2 focused connected the infrastructure needed to enactment that demand. Hyperscalers ramped superior spending, GPU request exploded, the information halfway operation accelerated, and powerfulness infrastructure became a bottleneck. J.P. Morgan estimates that information halfway superior expenditures present adjacent astir 1.2% to 1.3% of GDP, levels that lucifer those of erstwhile infrastructure booms.

Wave 3, successful Camillo's framing, centers connected companies utilizing AI to run much efficiently and trim costs crossed ample workforces. He pointed specifically to businesses with heavy lawsuit work operations, administrative overhead, logistics networks, and repetitive white-collar functions.

Bloom Energy: The Wave 2 Anchor

When Selby asked however Camillo had been positioned for the earlier infrastructure wave, Camillo referenced Bloom Energy (NYSE:BE), noting the banal had risen to the $250 to $260 scope astatine the clip of recording. Shares past traded astatine $302.49 connected May 22, 2026, aft gaining 248.13% year-to-date.

The company’s operating results reflected that momentum. In Q1 2026, Bloom posted gross of $751.05M, up 130.4% twelvemonth implicit year, and non-GAAP EPS of $0.44 versus $0.13 consensus. Management raised full-year 2026 guidance to gross of $3.40B to $3.80B, supported by a $5 cardinal strategical AI infrastructure concern with Brookfield Asset Management and an Oracle information halfway powerfulness collaboration. CEO KR Sridhar described the displacement bluntly: "Bring-your-own-power has shifted from a slogan to a concern necessity for AI hyperscalers and manufacturing facilities."