They say that in a gold rush, you should sell shovels.
In the current AI boom, that mantra has been one that has delivered returns for a lot of investors.
That’s why the most valuable public company in the world isn’t one of the businesses training and releasing models, but the one that sells chips.
It’s a strategy that has worked out very well for many gambling industry investors as sports betting swept across the nation after the 2018 repeal of the Professional and Amateur Sports Protection Act (PASPA). Rather than buying into operators, many investors looked instead at tech suppliers that might build platforms, supply odds, or offer other services.
