Artificial intelligence has been hyped, doubted, celebrated, and
questioned — but very few people understand it from the inside
out.
On this episode of In the Money with Amber Kanwar, Amber sits
down with Malcolm White, Portfolio Manager, BMO Global Asset
Management, to cut through the noise around the AI boom and
explain what’s actually happening beneath the headlines. From the
launch of ChatGPT to today’s trillion-dollar AI infrastructure
buildout, Malcolm breaks down why this moment is fundamentally
different — and why many investors still don’t fully grasp the
technology driving it.
Drawing on his experience as both a former AI programmer and
portfolio manager, Malcolm explains why AI adoption is moving
faster than anything he’s seen before, how skepticism around
valuations, capex, and so-called “AI bubbles” often misses the
mark, and why physical constraints — power, data centers, and
compute — matter just as much as software. He offers a rare
behind-the-scenes look at how AI models are trained, why data is
the new gold, and what investors get wrong about chips,
depreciation, and commoditization.
In the Mailbag, Malcolm weighs in on some of the most
talked-about names in the AI ecosystem, including Broadcom
(AVGO), Reddit (RDDT), SanDisk (SNDK), Western Digital (WDC), and
Celestica (CLS). He explains why volatility is rising even as the
AI capex cycle remains intact, how investors should think about
pullbacks versus broken theses, and why certain “boring”
infrastructure plays are quietly benefiting from massive shifts
in data, memory, and storage demand.
In Pro Picks, Malcolm lays out three high-conviction ideas tied
to different stages of the AI and innovation cycle. He explains
why Nvidia's (NVDA) fundamentals continue to be misunderstood
despite its dominant position, why memory and semiconductors
remain critical bottlenecks, and why Samsung Electronics
(005930.KS) offers an underappreciated catch-up opportunity. He
also looks further out to the next frontier with a deep dive into
quantum computing, including why pre-IPO Xanadu Quantum
Technologies stands out — and why investors should treat the
space with both curiosity and caution.
Timestamps
00:00 Questrade’s new tools for investors. Use promo code
INTHEMONEY
01:50 Show intro
03:55 Malcolm is a portfolio manager & AI programmer
08:15 An inside view into the pace at which AI has evolved
13:50 The Deepseek moment
17:00 The Fury of Burry - what Michael Burry is Missing
23:50 What about the circular deals?
26:30 Why Malcolm thinks Anthropic will be the first IPO &
what comes next
29:40 The Oracle question
32:45 How transformative will AI be?
36:00 ITM Mailbag: Broadcom stock (AVGO)
39:10 Reddit stock (RDDT)
40:00 Sandisk stock (SNDK)
43:15 Western Digital stock (WDC)
45:00 Celestica stock (CLS)
48:25 Malcolm’s Pro Picks (NVDA, Samsung, Xanadu Quantum)
59:20 ETF Minute: HAMILTON CHAMPIONS Canadian Dividend Index ETF,
HAMILTON CHAMPIONS EnhancedCanadian Dividend ETF
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Pro Picks is brought to you by ATB Financial. Visit
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DISCLAIMERS
The information provided in this podcast is for informational
purposes only and does not constitute financial, investment, or
professional advice.The views expressed by the host and guests
are their own and do not necessarily reflect the opinions of any
organization or company. The host and guests may maintain
positions in any securities discussed on the podcast. Always
consult with a qualified financial advisor or professional before
making any investment decisions.
In the Money delivers expert stock picks, actionable ideas, and
timely money management tips. Hosted by business journalist Amber
Kanwar, each episode features interviews with top portfolio
managers who suggest ways to achieve good returns. Covering
everything from ETFs and Canadian stocks to global investing
trends, dividend strategies, and risk management, this show is
made for DIY investors, stock market enthusiasts, and anyone
looking to sharpen their financial strategy.
Contact: questions@inthemoneypod.com
#IntheMoney #Investing #StockMarket #CanadianInvesting
#FinancialNews
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