Artificial intelligence has officially crossed from hype to real-world impact but is Wall Street keeping up? In this episode of In the Money with Amber Kanwar, Amber sits down with Malcolm White of BMO Global Asset Management, a portfolio manager and AI programmer, to unpack what’s actually happening inside the AI revolution.
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Nvidia (NVDA)
- Premier AI Platform Leadership: The Blackwell and Rubin cycles represent Nvidia’s best chip cycle yet, shifting from experimental AI chips to a full platform optimized for scaling high-intensity AI compute, with strong demand from industry and financial clients building dedicated data centers.
- Massive Backlog and Upside Potential: A projected $500 billion backlog signals robust order flow and significant revenue growth ahead, positioning Nvidia for outperformance despite recent underperformance relative to peers like AMD (up 76% YTD) and even Intel.
- Attractive Valuation Without Premium: Trading at just 25x forward earnings—cheaper than Walmart or Costco (both ~40x)—with no multiple expansion over the last two years, as stock gains (250%) have been fully driven by equivalent earnings growth, offering value amid market skepticism.
Samsung (SSNLF)
- Positive Memory Pricing Dynamics: As a key memory play, Samsung is set for favorable pricing in the coming year amid tight supply, which isn’t yet fully reflected in its stock price, driving potential for improved margins and profitability.
- Recovery from Laggard Status: After being the worst-performing IT stock last year and a chronic underperformer due to market challenges in Korea and commodity pressures, Samsung is poised for appreciation as competitive dynamics shift away from peers like SK Hynix.
- Broad Business Upside: Beyond memory, Samsung’s diverse operations stand to benefit from an improving IT sector, with recent gains off the bottom not yet capturing the full recovery potential in a more structured, less commodity-dependent environment.
Xanadu Quantum Technologies (Private)
- Innovative Photonic Technology: Xanadu’s photonic approach addresses key quantum scaling challenges, enabling room-temperature operation (avoiding extreme cryogenic needs) and superior entanglement for massive qubit scalability, potentially solving limitations in competitors’ ionic or superconducting methods.
- Favorable Valuation and Support: Entering the market at a projected $3 billion valuation—lower than rivals like Rigetti, D-Wave, or IonQ—backed by strong Canadian government support for sovereign quantum applications and co-investment, providing a solid foundation for growth.
- Path to Commercialization and Partnerships: With a 5-year ramp to true commercialization, Xanadu focuses on milestones in quantum supremacy and applications like materials science or drug discovery via collaborative R&D and licensing models, plus potential for industry consolidation with players like Google or IBM.
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Xanadu Quantum Technologies announced on November 3, 2025, that it will go public via a SPAC merger with Crane Harbor Acquisition Corp., valuing the combined company at approximately US$3.6 billion (pre-money equity value of US$3 billion).
Don’t miss our next episode! We wrap up an incredible first year!
DISCLAIMERS: This text AI generated, human edited. 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.
