Jesse Felder | Is the AI Bubble About to Burst? NVIDIA, Gold & Energy | (Part 1)

Is the AI bubble about to burst? Contrarian investor Jesse Felder joins Dr. Alan O’Sullivan on The MOST Important Thing to examine NVIDIA, Big Tech’s AI spending boom, rising US Treasury yields, stubborn inflation, and the investment case for gold and energy stocks. In Part 1, Jesse explains why data-centre opposition and tighter credit markets could threaten the AI infrastructure build-out. They discuss hyperscaler earnings, GPU obsolescence, the risk of overinvestment in AI compute, and why Jesse believes NVIDIA’s share-price chart is signalling a change in momentum. The conversation then turns to the US 10-year Treasury yield, the possibility of a longer-lasting inflationary regime, and what higher interest rates mean for stock-market valuations. Jesse also makes the case for real assets, exploring gold, commodities, oil and gas producers, the energy capital cycle, and whether an economic slowdown could derail the energy supercycle. From AI valuations and semiconductor stocks to gold, oil prices and inflation protection, this is a wide-ranging discussion of where investors may be underestimating risk — and overlooking opportunity. Chapters 00:00 Introduction to Jesse Felder 01:00 US Elections, Inflation & the Cost of Living 03:02 AI Data Centre Backlash 04:23 NVIDIA, Semiconductors & AI Demand 07:11 Hyperscaler Earnings & Rising Depreciation 10:10 The AI Efficiency Revolution 14:23 NVIDIA's Bearish Technical Pattern 17:25 US Treasury Yields & Credit Market Risks 21:46 A New Era of Higher Inflation? 26:15 Gold, Real Assets & Protecting Wealth 27:39 Energy Stocks & the Capital Cycle 32:50 Oil Supply, Recession Risks & Strategic Reserves 35:30 XOP: The Bullish Case for Energy 37:24 Physical Gold vs Investment Funds CONNECT & FOLLOW The Felder Report: https://thefelderreport.com Subscribe to The MOST Important Thing for interviews on investing, financial markets, global macro, asset allocation and long-term wealth. DISCLAIMER For education and discussion only. Nothing in this video is personal financial advice. Views expressed by guests are their own. #JesseFelder #AIBubble #Investing