Audio podcast, no YouTube upload found — timestamps are Spotify transcript cues and each "At" link opens the Spotify episode at that second (the player may start from the top). Holdings attributed to "Sep 4 post" were read out by the host, not discussed by Wilde. Research: QT Qualtrim · SA Seeking Alpha · STK Stock Analysis.
| Ticker | Name | Research | View | What she said | At |
|---|---|---|---|---|---|
| NVDA | NVIDIA | QT · SA · STK · FA | Positive | Held (top of her Sep 4 holdings list, per the host: "you've got really NVIDIA, which makes sense"). Her explicit case is about hyperscaler psychology, not the chip cycle: "I think the leadership at every hyperscaler thinks about this exactly the same way that there's no cap to the demand here… And as long as literally every hyperscaler C-Suite is thinking about this in those terms, I think you can comfortably buy NVIDIA. We'll sleep well at night." | 1:06:42 |
| NBIS | Nebius Group | QT · SA · STK · FA | Positive | Her career case study — "I probably will never see anything like this again in my lifetime." "This is clearly going to be one of the biggest providers of cloud compute in the United States," yet holders who got it from frozen Russian positions "suddenly just had this thing show up in their brokerage account one day and it's just clicking the sell button." The lesson: "whenever you're in a situation in public markets where you know who your counterparty is, you're probably going to make a lot of money… and you have a materially different view… you can make phenomenal life changing money." Sourced from her network, which "was so close to getting burned" betting the Russian market would reopen. (Current holding status not stated.) | 33:34 |
| 000660.KS | SK Hynix | QT · SA · STK | Positive | Held — her memory position, sized up using Nintendo as the offset. Memory is one of the trades she front-ran: "buying all of the memory companies before everyone figured out that we were sold out for the next 4 years." Owning Nintendo "mentally… helps me justify a larger position in SK Hynix." | 37:36 |
| CRM | Salesforce | QT · SA · STK · FA | Positive | Her example against "software is dead" — "No, no, far from it." People will build their own CRMs ("I've done it many times"), but "a big portion of what you're paying for when you have like Salesforce, for example, is other people are going to maintain this thing for you and other people are going to… accept some degree of liability… as soon as you're doing something that's large where the input cost of the software is no longer material to the business outcome, then these customers are not going anywhere." (A business argument; no position disclosed.) | 27:17 |
| — | Inheritance AI / Inheritance HQ (private — her company) | — | Positive | Her own company (founder) — talk-her-book caveat. "The most material aspect of our business is robot data": capturing "human priors" — the embedded knowledge of how people perform physical tasks — and packaging it "such that it's easy to train on for these large AI companies." Much of the work is the "grunt work" of cutting eight-hour messy capture videos into meaningful segments. Focus: tasks a human performs directly (assembly, sorting, manipulation), not machine-operator footage. Software that cost ~$200,000 to build last year could now be replicated "in like 3 weeks and $20,000." | 1:16 |
| — | Matic (private — robot vacuum maker) | — | Positive | Her model of "the perfect robot" — narrow, non-humanoid, handles edge cases. Unlike the Roomba (whose maker "I think since gone bankrupt" after Amazon's failed purchase), Matic "has some kind of innate sense of space and time… can work operate in the dark… this thing's almost perfectly silent. But it does one job and it does it really well." The future is "menial labor tasks… getting progressively automated away 1 by 1 by 1." | 7:59 |
| — | Harvey (private — legal AI) | — | Positive | Named with Cognition as the niche-AI winners. "The increasingly very large companies that need a niche needs and take on this like liability and trust aspect are going to continue to do exceptionally well, whether that's cognition or whether that's Harvey… we're an AI company, but we really only do this one thing and we do it really well. And you can think of them like a software company." | 29:00 |
| — | Cognition (private — AI coding agents) | — | Positive | Same argument as Harvey: a vertical AI company that owns one job plus the trust and liability around it will "continue to do exceptionally well" — the labs won't spin up a business "for every individual use case." | 29:00 |
| NTDOY | Nintendo (ADR; TSE: 7974) | QT · SA · STK | Neutral | Held, but not as a thesis — "I think of as a cash position that's also hedging my memory position." Nintendo is "super exposed… to memory prices and… they did not go out and contract. They've just been buying things on the spot market for forever." Value investors have pitched it for a decade and "it just hasn't worked out. But I'm not worried about this company going anywhere, I'm happy to just own shares for a while." | 36:53 |
| QXO | QXO | QT · SA · STK · FA | Neutral | Held per her Sep 4 portfolio post (>1% positions), as read out by the host — not discussed on the episode. | 19:25 |
| SKYH | Sky Harbour Group | QT · SA · STK · FA | Neutral | Held per her Sep 4 portfolio post, as read out by the host ("SKYH") — who calls the book "a little bit esoteric"; not discussed by Wilde. | 19:25 |
| AMZN | Amazon | QT · SA · STK · FA | Neutral | Held per her Sep 4 portfolio post, as read out by the host — not discussed as a holding (Amazon appears only as the failed Roomba acquirer). | 19:25 |
| GME | GameStop | QT · SA · STK · FA | Neutral | No position — a fresh idea from her network, framed as "one off" if you have a view. "Wow, I can't believe I'm saying this… right now GameStop is trading for an EV/EBITDA of less than three… I don't have a view on this business," but the meme era left "a lot of cash" and stores "very cheap to close"; it is "increasingly… a player" in collectibles (Pokémon cards). Interesting "if you have a view on that market being durable and you think that the management is not entirely incompetent." | 39:04 |
| PTON | Peloton Interactive | QT · SA · STK · FA | Neutral | No position ("to be clear") — the second "specific consumer company" theme. Host: still ~$5, down 96% from $167. Wilde: "if you forget everything that's happened historically and just look at what's the next two years of this business look like, I think that it's totally plausible that you're buying this for a single digit earnings multiple today" — conditional on a variant view that it is durable and growing; "if… it's in terminal decline… then it's not interesting at all." One of many consumer names "sold at equally like 30 to 60 to 90%." | 41:02 |
| 6954.T | Fanuc (TSE; ADR FANUY) | QT · SA · STK | Neutral | One of the only public "real robot" makers — but she won't build a portfolio from it. "Today in public markets there is very, very few options… there are a few like robot manufacturers, Fanuc, ABB come to mind… these people are making real robots… basically everything else you're betting that the demand from physical AI use cases is going to materially lead to inflection in their business." Declines to name picks: "all of the most interesting stuff happening in robots is still in private markets." | 46:55 |
| ABBN.SW | ABB Ltd | QT · SA · STK | Neutral | Named with Fanuc as a real robot manufacturer with real customers — the rare direct public exposure; no view or position given, and she declines the robotics-portfolio question outright. | 46:55 |
| SFTBY | SoftBank Group (ADR; TSE: 9984) | QT · SA · STK | Neutral | A derivative OpenAI proxy she passes on. "If you have a view on OpenAI today, your options for doing that… in public markets are SoftBank, Oracle or you can make these more derivative bets on like power and compute… I'm not particularly interested in the options available to me on that one. I would rather sit around and wait for the IPO." Her rule: "the further away you get from the bet you're interested in making… the worse your risk return prospects." | 48:07 |
| ORCL | Oracle | QT · SA · STK · FA | Neutral | Named with SoftBank as the only public ways to express an OpenAI view — both too derivative for her; she would "rather sit around and wait for the IPO." No view on Oracle's own business. | 48:07 |
| OpenAI | OpenAI (private) | — | Neutral | She'd wait for the IPO rather than buy proxies. The labs aren't threats to niche businesses — they're "interested in solving intelligence" — but the "big error of omission" is "what's the marginal demand for higher intelligence?" if open-source models are good enough: is future compute "complete malinvestment? I don't know the answer. My guess is probably not." The companies behind LLMs are "kind of weird religious organizations that are very bad at advertising," and she expects "the most insane things you've ever heard on an earnings call" once public. | 1:02:51 |
| Anthropic | Anthropic (private) | — | Neutral | Why she isn't worried about two-lab concentration: "Anthropic's not going to invent a vacuum that can go clean your whole house… they're trying to train something that's very broadly applicable" so others can solve real problems cheaply. Critical of its PR: "anthropics entire like media strategy or thing that they tell employees to like talk about the fact that we think that we're all going to die in a few years like this feels… crazy and insane to me." | 14:13 |
| ADBE | Adobe | QT · SA · STK · FA | Neutral | The DIY-software evidence she concedes: "every day my feed… is like, oh look, I've recreated Adobe Lightroom in a weekend. Oh look, I've created Adobe After Effects in a weekend… this is going to continue happening and this is going to accelerate" — but for big businesses the saving is immaterial next to maintenance and liability (see Salesforce). No view on the stock. | 26:21 |
| — | Agility Robotics (private) | — | Neutral | The host's suggested pick; she declines on a conflict. "It's hard for me to say much more specifically because a lot of these companies that are in the process of IPO-ing or about or just IPO'd are customers or soon to be customers of mine. So I have a direct conflict of interest." Private robotics funding is "unfortunately mostly hype and very little real." | 49:38 |
| GOOGL | Alphabet (Google) | QT · SA · STK · FA | Neutral | Cited for how the AI capex decision is actually made. Not national security: "this has nothing to do with capital allocation decisions at Google and Meta and Anthropic, OpenAI. They're just looking for what's the marginal return on my investment. And the lowest number that I've seen any of those companies model is 20%… an almost contracted return" — so "resources are just going to continue to be thrown at this thing forever." | 1:08:30 |
| META | Meta Platforms | QT · SA · STK · FA | Neutral | Named with Google in the same capex-return argument (~20% modeled floor on data-centre spend), and the consequence she draws: "the price of lending for other use cases is going to continue to go up because they're competing with building a data center… Why would you buy bonds?" Separately: "the median ad at this point is probably completely AI generated… that's the complete upending of that entire sector." | 1:08:30 |
NVIDIA makes the chips almost every AI data centre runs on. Wilde owns it, and her reason is simple: the people who buy those chips — the bosses of the giant cloud companies — all believe there is no ceiling on demand for AI computing, so they will keep spending.
Her argument is about buyer behaviour rather than chip specs: as long as every one of those executives thinks this way, the orders keep coming and "you can comfortably buy NVIDIA." The risk is the flip side — if that shared belief cracks, the spending can slow all at once.
Nebius rents AI computing power, and it emerged from the Western part of Russia's Yandex. Many investors who had money trapped in Russian holdings suddenly received Nebius shares, and they just wanted out — they sold without caring what the business was worth.
Wilde's lesson is about the "counterparty," the person on the other side of your trade. If you know the seller is dumping for reasons that have nothing to do with value, and you believe the business sits in a long-lasting trend (data centres), you can make "life changing money." She calls it the best setup she will probably ever see.
SK Hynix is a Korean maker of memory chips, including the high-end memory AI chips need. Wilde bought memory companies before the market realised supply was "sold out for the next 4 years" — one of her front-run-the-change trades.
She pairs it with Nintendo: Nintendo buys memory at whatever the current price is, so rising memory prices hurt it. Holding a bit of each softens the blow if she is wrong about memory, which lets her hold a bigger SK Hynix position.
Salesforce sells customer-management software by subscription. The fear is that AI lets anyone build their own version for free. Wilde agrees people will — she has done it herself — but says big companies don't really pay Salesforce for the code.
They pay for someone else to keep it running and to take responsibility if it breaks. For a large company the subscription cost is tiny compared with those headaches, so "these customers are not going anywhere."
Wilde's own private company. Robots learn tasks from examples, and the best examples are recordings of humans doing the job. Inheritance turns messy real-world footage — hours of video including breaks and chatter — into clean, labelled clips that AI labs can train robots on.
Because she profits from AI demand for training data, treat her bullishness on "demand for data continues to be underestimated" as informed but self-interested.
Wilde owns Nintendo but doesn't pitch it. She treats it like cash that also acts as insurance: Nintendo buys memory chips at market prices without long contracts, so if memory gets expensive its costs rise — the opposite of her SK Hynix bet.
She notes value investors have pitched Nintendo for a decade without it working, but she is comfortable holding a financially solid company "for a while."
No position. EV/EBITDA compares a company's total value (market value plus debt, minus cash) with its operating profit; under three is extremely cheap. GameStop raised lots of cash during the meme-stock mania and can shut stores cheaply.
The possible story is that it becomes a trading-card and collectibles shop. Wilde says it's only interesting if you believe that market lasts and management is competent — she has no view either way.
No position. Peloton sells connected exercise bikes and subscriptions; the stock boomed in COVID and is down about 96%. Wilde says if you ignore the history and look only at the next two years, you may be paying a single-digit multiple of profits — cheap.
The whole case rests on whether the business is stable or shrinking. If owners keep abandoning the bikes, "it's not interesting at all."
Fanuc is a Japanese maker of industrial robots and factory automation. Wilde names it and ABB as the rare listed companies that actually build robots — but she still won't build a robotics portfolio from them.
Her rule: the further a stock is from the exact bet you want to make, the more you are exposed to that company's own management and operating mistakes. The pure robotics bets, she says, are still private.
SoftBank is a Japanese investment conglomerate with a large stake in OpenAI, so it's one of the few public ways to bet on OpenAI. Wilde passes: owning SoftBank means also owning everything else SoftBank does.
She would rather wait for OpenAI to list directly — patience over an imperfect substitute.
Summary derived from the public Value Hive Podcast audio episode (transcript in transcript.txt, read from Spotify's auto-generated transcript panel after disabling its content-visibility virtualization; cues are Spotify's) for personal study. Not investment advice. © Value Hive Podcast / Brandon Beylo for source material.