Everyone Missed Nvidia. Now They're Watching the Wrong Thing Again.

Editor’s Note:  Former tech executive and angel investor Jeff Brown — picked Bitcoin before it jumped as high as 52,400%, Tesla before it jumped as high as 2,150%, and Nvidia before it jumped as high as 32,000%. Today, he’ll show you how to claim a stake in Elon Musk’s upcoming IPO — BEFORE the company goes public. Click here to see the details or read more below.

Dear Reader,

Last week, while the world watched Artemis and tracked tensions with Iran...

Elon Musk's team quietly filed paperwork with the SEC.

Not just any paperwork.

The confidential filing for what’s set to be the largest IPO in history.

Under SEC rules, the public filing could be released any day now.

And when it drops, the frenzy begins.

Bloomberg said the company could seek a valuation of over $1.75 trillion.

That would make it bigger than Saudi Aramco... bigger than any tech IPO ever... bigger than anything Wall Street has ever seen.

CNBC is calling it “the big market event of 2026.”

The New York Times says it will “unleash gushers of cash.”

And what most people don’t know is…

You don’t have to wait for the IPO.

There’s a way to claim your stake TODAY.

Before the public filing drops…

Before millions of investors flood in…

Starting with as little as $500.

We have so much to look forward to,

Jeff Brown
Founder & CEO, Brownstone Research

► Hyperscaler AI capital spending for 2026 is now estimated at `$725` billion. That is nearly double last year’s estimate of `$365` billion. Microsoft, Amazon, Meta, and Alphabet are each spending over `$100` billion this year on AI infrastructure alone.

► Nvidia CEO Jensen Huang delivers his GTC Taipei keynote today. He unveiled the Vera Rubin AI computing platform, a new standalone CPU called Vera, and the RTX Spark chip for AI PCs. Nvidia’s market cap sits at `$5.19` trillion.

► Broadcom reports Q2 earnings Tuesday after the close. Analysts expect `$22` billion in revenue. AI semiconductor revenue alone is projected at `$10.7` billion. That is a `140%` year-over-year increase.

► The S&P 500 closed at `7,580`, near record highs. The 10-year yield sits at `4.45%`. That is the interest rate the government pays to borrow for a decade. The VIX is at `15.32`.

► Here is the buried story. Over `70%` of AI data center revenue has shifted from training to inference. That means the next wave of AI profits may not go to the company everyone already owns.

Let me put `$725` billion in terms that matter to your kitchen table. That is more than the entire GDP of Switzerland. It is more than the U.S. spent on defense last year. And it is being funneled into one sector in one calendar year.

Now think about where that money flows. The chips. The networking equipment. The power systems. The cooling infrastructure. The fiber. If you own an S&P 500 index fund, you already have Nvidia. You already have Microsoft. But do you own the companies building the roads underneath them?

Here is the dollar math. Broadcom’s AI chip revenue grew `106%` last quarter to `$8.4` billion. Management says they have line-of-sight to `$100` billion in AI chip revenue by 2027. If you bought Broadcom a year ago at `$170`, your shares are now worth around `$447`. That is a `163%` gain while most people argued about whether AI was a bubble.

Sound familiar? It should. In 1999, everyone watched Amazon and missed Cisco. The company building the internet’s backbone ran `75,000%` before most retail investors noticed. I am not saying history repeats. But the pattern rhymes loud enough to hear over your morning coffee.

I think the biggest risk right now is not that AI fails. It is that investors concentrate everything in one name and miss the rest of the supply chain.

Nvidia reported `$81.6` billion in revenue last quarter. Incredible. But here is what most people did not read in the footnotes. Broadcom is building custom AI chips for at least five hyperscale clients. A sixth customer is expected to deploy over one gigawatt of AI capacity in 2027. That is not a sideshow. That is a second front in the AI infrastructure war.

Think about that for a second. Amazon alone plans to spend `$200` billion on capital expenditures this year. Meta raised its budget to `$125` to `$145` billion. These companies are not spending this on chatbots. They are building physical AI factories. The picks and shovels are where the durable margins live.

I do not think Nvidia is a bad investment. I think it is an obvious one. And obvious investments rarely produce the best returns from here. The crowd is watching Jensen Huang on stage in Taipei today. The money is watching what gets built after the keynote ends.

If you are comfortable: Open your brokerage app and check your AI exposure. If every dollar is parked in Nvidia or a mega-cap tech ETF, you are making my brother-in-law’s mistake. Look at Arista Networks. That is the company that makes high-speed networking switches inside AI data centers. Look at Vertiv. That is the company that builds the power and cooling systems keeping AI servers running. And look at Broadcom. These are the companies building the plumbing. Diversify within the theme, not away from it.

If you are stretched: You do not need to chase AI stocks. If you own a total market index fund in your 401(k), you already have exposure. The smartest thing you can do this week is make sure your contributions are going in on schedule. Consistency beats timing every cycle.

My brother-in-law is still thinking about that Nvidia buy. I told him the same thing I will tell you. The best trade is not the one everyone is talking about. It is the one nobody has called you about yet.