Investing Experts Live: Growth & Tech Investing Strategy for 2026

Key Concepts

• AI is driving significant energy demand: The rapid growth of AI, particularly inference at the edge, is creating an impending energy crisis.
• Energy supply is the new bottleneck: While compute power was previously the limiting factor, energy availability is now the primary constraint on AI development.
• Geopolitical factors are crucial: Geopolitical tensions and the rise of “sovereign AI” are reshaping the AI landscape.
• Latin America presents growth opportunities: MercadoLibre (MELI) is positioned as a strong long-term investment due to its dominance in the region.
• Bloom Energy offers a solution to the energy gap: Bloom Energy’s behind-the-meter power solutions are seen as a critical component in addressing the AI energy crisis.
• Investment strategies vary: Quantitative and discretionary investment approaches offer different strengths, with a blend proving effective.

AI and the Emerging Energy Crisis

The analysts discussed the current state of AI investment, largely dismissing the “bubble” narrative. Both Beth Kand Dig and Andre Cardinal agreed that investment is coming from profitable companies actively monetizing AI – citing Meta’s Advantage Plus ($60 billion annual run rate in 2-3 years), OpenAI ($20 billion annual run rate), and Azure (50% of growth attributed to AI) as examples. However, the conversation quickly pivoted to a critical constraint: energy. Beth argues AI is “no longer compute constrained. It’s a power race.” Global AI data center power demand is projected to grow 55% over the next three years (BCG estimate). This escalating demand, driven by inference, will create a significant energy “boom” between 2026-2028, even with increasing chip efficiency. China’s substantial energy surplus (80% vs. the US’s 15%) gives it a competitive advantage in AI development and deployment.

Investment Strategies & Risk Management

Andre Cardinal detailed his investment approach, contrasting quantitative (“quant”) and discretionary strategies. His quant portfolios, based on value, fundamental quality, and trend revisions, have yielded 500% returns since 2020 and currently include positions in gold, metals, and tech/AI stocks. These portfolios are actively managed, with weekly trading and short positions during volatility. For long-term investments like MercadoLibre, he prioritizes qualitative factors – business quality and competitive moats – that aren’t immediately reflected in financial data. He recently issued a discretionary alert regarding extended valuations in the metals market. Beth’s investment framework focuses on identifying supply constraints, analyzing monetization trends, and utilizing technical analysis for risk management.

MercadoLibre (MELI) – A Latin American Powerhouse

Andre Cardinal champions MercadoLibre (MELI) as a compelling long-term investment. He believes MELI’s dominance in Latin American e-commerce and fintech, coupled with its robust logistics network, network effects, and brand recognition, positions it for continued growth. MELI’s revenue grew 39% in Q3 2025 (49% in constant currencies), with unique buyers increasing 26% to 76.8 million. He argues MELI is resilient to economic downturns, as weaker competitors fail during crises, allowing MELI to strengthen its position. He doesn’t anticipate share buybacks, prioritizing growth investments. He described MELI’s approach to AI development as operating “in silence,” strategically building capabilities without excessive fanfare.

Bloom Energy – Addressing the Power Gap

Beth Kind positions Bloom Energy as a crucial solution to the impending energy shortage for AI. Bloom’s value proposition lies in providing power without heavy reliance on batteries, offering a rapid deployment solution (90 days for the Oracle deployment). Bloom is competitively priced compared to other energy sources, particularly given the urgency of the 2026-2028 timeframe. Bloom Energy’s fuel cells have seen double-digit year-over-year cost reduction, lasting longer, being more reliable, and producing 10x more power in the same footprint than they did 10 years ago. Bloom’s revenue growth was 71-72% in the most recent quarter, with expected EPS growth of 100% over the next three years. PJM Auction Pricing surged 11x for 2025-2026 and increased 22% for 2026-2027, highlighting the increasing demand for power.

Geopolitical Shifts & Future Trends

Beth Kind highlighted a growing trend towards “sovereign AI,” where countries prioritize developing their own AI infrastructure and reducing dependence on the US or China. This shift will reshape the AI landscape, fostering localized AI ecosystems. Competition in the memory market (Micron, SK Hynix, Samsung) and the need for increased bandwidth for next-generation AI systems were also discussed. In the energy sector, Bloom Energy faces competition from gas turbines and innovative solutions from established players like GE.

Conclusion

The discussion paints a picture of an AI revolution facing a critical bottleneck: energy. While AI development continues at a rapid pace, the ability to power these systems is becoming increasingly challenging. Investment opportunities exist in addressing this energy gap, particularly with companies like Bloom Energy. Furthermore, the analysts emphasize the importance of considering geopolitical factors and identifying companies with strong competitive advantages, like MercadoLibre, that are well-positioned to thrive in a rapidly changing world. A diversified investment approach, blending quantitative and discretionary strategies, is recommended for navigating the volatility and capitalizing on the opportunities presented by this evolving landscape.