Transcript was automatically generated.

0:00:02 – Announcer

Wall Street Unplugged looks beyond the regular headlines heard on mainstream financial media to bring you unscripted interviews and breaking commentary direct from Wall Street right to you on Main Street.

0:00:16 – Frank Curzio

How’s it going out there? It’s October 8th and I’m Frank Curzio, host of the Wall Street Unplugged podcast, where I break down headlines and tell you what’s really moving these markets. So, trying something different this week, doing a podcast of 15 years and this is the first one that we ever did live and should be pretty cool. We’ll talk about the AI energy crisis, and first I want to bring in my buddy, Daniel Creech. What’s going on, man? How’s everything?

0:00:44 – Daniel Creech

Frank, everything’s great sir. Another beautiful Wednesday, how you doing.

0:00:46 – Frank Curzio

Good, you know we’re live right, we are, yeah, we can’t make any mistakes.

0:00:50 – Daniel Creech

We can make mistakes, but we can make fun of us. Yeah, we make mistakes all the time. We’ll be alright. Yeah, I think we’ll be okay.

0:00:54 – Frank Curzio

Send your questions to Frank Any problems. Frank at k. These live events right, it’s pretty cool. We did one a couple of weeks ago and on the same subject, but we had so many questions that we didn’t get a chance to answer all of them because I really lost my voice. It was like 90 minutes. Not that this is going to be 90 minutes, but we have a great show because the questions that we got were amazing AI, energy crisis. Where and make no mistakes, it’s a crisis the lights are going to go out. It’s simple math. I’m going to show you a little bit of a presentation in a second, just a few slides.

I also have a great interview set up for you today with Amir Adnani. He is the CEO of UEC, which is Uranium Energy. One of the smartest people on the planet when it comes to uranium. He’s been in this industry for 23 years. He started that company. Now massive demand. I cover that company when it’s below a dollar for my subscribers and it’s 13 and change as a $5 billion valuation.

But here’s a guy that’s in the room with hyperscalers when they’re talking about energy and what they need. Right, that’s what we want. We want to get the inside scoop. This way, we can find the best stock plays. It’s not just AI energy crisis. It could be liquid cooling, it could be infrastructure plays, it could be nuclear with Amir, obviously, infrastructure plays. It could be nuclear with Amir. Obviously. It could be solar and natural gas. We’re going to cover a lot of free picks we’re going to give away today and then, after the interview, we’re going to do a great, great Q&A.

So feel free to ask questions. You can ask them right in the chat box on Twitter, and I like doing this on the X platform and I say Twitter all the time because I’m old school, but it’s the X platform, which is pretty cool. But when you’re looking at the energy crisis, it is really scary, and I want to break that down for you right now because there’s a lot of information I’m going to give you and this is relevant with a lot of this. Stuff just happened, so I’m going to be sharing my screen with you and first things first is I want to show you this picture about Jensen Wong and Jensen Wong right here. This is on CNBC Today he’s talking about. This is today this morning on Squawk Box. Get a chance to listen to this interview because they finally asked him a really good question. They asked him lots of questions. He’s talking about all kinds of AI, what’s going to happen, and I get it. But he’s talking about demand for AI.

Computing has gone up substantially in the last six months. That’s an understatement. That’s an understatement. And when you’re looking at the latest deals, jensen believes that there’s going to be $4 trillion in spending that’s going to take place over the next five years. If you want to put that in perspective, you’re looking at the total transferable market for cancer is $250 billion, so he’s talking about $4 trillion in spending.

Cybersecurity is a $200 billion market. That’s every company in the world, all the biggest S&P 500 companies protecting their data, protecting everything, cybersecurity, massive industry. It’s $200 billion. He’s talking about $4 trillion in spending. This is going to print more millionaires over the next three, four years than probably any single trend we’ve seen.

I’ve been doing this for 30 years, right, so I’m not bullshitting you when I look at how much is going to be spent. We want to find out who is going to get some of that spending. And if it’s a small cap, you need 0.00001% and your stock’s going to go up 3x, 4x, 5x. Right, and that’s what we want to do, and we’ve done that with our AI newsletter called Curzio AI, and in that newsletter we have gains that are up 400%, several are up 200% and we’re not really cherry-picking. We have great contacts in this industry that reach out to us, that actually help build the data centers for these companies, that are executive VPs, even hedge fund managers, and the executive VPs for some of these energy companies, department of Defense and everything. So it’s really cool, right, we have great contacts that helped us get into the right areas and that’s what’s happening this transition.

So let me get into it right now, because when you look at how much computing power we’re going to need and we could talk about this first is the demand for deals, and I wrote some of these deals down because this is September. Okay, this only sits in September. You look at a video deal with CoreWeave $6.3 billion. Anthropic raises $13 billion for $183 billion valuation. Musk XAI raised $10 billion. Gave that company a $200 billion valuation.

Oracle remember that quarter stock shot up 30%, received massive investment from OpenAI. It pushed its backlog from $150 billion to $450 billion. Okay, that was just a few deals. Now, recently, openai raised money for a $500 billion valuation. They also took a 10% stake in AMD. We’re going to get to a lot of that too.

Is the government going to take stakes in some of these companies? They’re doing it in a lot of metal companies, right, and uranium could be next. That’s a question I’m going to ask. Amir, you look at Samsung, and Hynix did a deal with NVIDIA to supply 100 high-end DRAM chips. If you add up all these deals this is just the past 30, 40 days it’s $500 billion in deals. So if you think Jensen Wong is full of shit when he’s saying $4 trillion, it’s probably conservative.

But the bigger point is not just the spending, because we could say this is going to be in a bubble. Yes, it could be in a bubble, right, but as long as the spending is taking place and they’re building these AI systems that are competing against each other, you’re going to need more power, and that’s what this is all about. Because, if you’re looking at the power, why is it so off? For and when I do my estimates of being a research analyst for 30 years everybody has this wrong. Because they don’t understand this market. Because right now, they’re basing the power that we’re going to need and the gigawatts we’re going to need, they’re basing it on the current chips and those chips, the next generation, which we’re probably going to see Jensen Wong at the Consumer Electronics Show. I was there last year for his presentation in Vegas. It’s every year the Consumer Electronics Show. They’re going to announce their new chips, like every nine months. And those chips, the power that they’re going to require is massive. And why is that? Because we’re going into a different generation of AI that you probably heard of, but on a PowerPoint. When it comes to the PowerPoint, people are still behind.

So we’re talking about agentic AI and they have traditional AI. Agentic AI. So traditional AI is like the large language models, whether it’s Claude, whether it’s ChatGPT, whatever you use in Lama, it asks a question, gives you an answer. Fine, it takes a lot of power just to do that, and I’ll explain that in a second. Agendic AI is a totally different animal. We’re in the first inning of this trend.

Okay, agendic AI is reasoning, it’s figuring out problems, and this is going to be done autonomously. And just to show you the energy that is needed for this okay, this is going to blow you away. Okay, google search 0.3 watt hours of electricity, fine, and you probably heard. Well, a single chat GBT query is 25 times more power, which you’re probably not hearing. What we’re in the first inning is this right here? Agentic AI requires 79 times more power than large language models. So when I look at that, what does that mean? It means that we’re going to need a shitload of power, right, and nobody’s really forecasting for this.

So when I look at the forecast and my job as an analyst is to look at McKinsey, goldman Sachs, morgan Stanley they provide estimates of how many gigawatts we’re going to need over the next year, two years, three years, five years and when I look at some of these forecasts, like McKinsey, this is a crazy forecast 219 gigawatts are going to be needed by 2030. That’s a crazy forecast. Goldman’s a little under that. A gigawatt of power if you look at a gigawatt of power, just to put it in perspective is enough to power 700,000 homes. If you’re looking at how many that we’re going to need which is even at 219, it’s insane going to need, which is, you know, even at 219, it’s insane, right? So when you look at McKinsey saying 219, and then you look at Goldman and Goldman’s up there and I think it’s a little bit below this.

As much as that is, it’s significantly underestimating how much power we’re going to need, and one company that’s called Rand. These guys have been around since World War II, independent, you know, just from everything really really good firm, good consulting firm. Look at what they have here, this number. They have Goldman Sachs estimate. They have McKinsey estimate. This estimate is 327, meaning that if you take that off of what we already have, you’re looking at at least 240 more additional. If you compare that to something like McKinsey, which is how you’re looking at, like 156, we’re going to need more like 240 gigawatts. If you’re looking at 240 gigawatts, guys, it’s.

Let me go back to the Rand example here too, because what does it say? I highlighted required to host all AI chips. This is the new generation of chips that are going to require much, much more power than I know from my data center contacts that build these things that you’re going to need more power. 327, okay, so say about 240, if you might say that’s about 240 gigawatts that we’re going to need, that’s enough to power 168 million homes. I mean, if you want to put that in perspective, all of America. We have 150 million homes. We’re going to have to build a new America.

There’s so wrong on this when it comes to estimates other than this company, rand, which I was surprised to find one with the amount of power we’re going to need, it costs billions and billions of dollars to build this shit. We know that right, and that’s not a problem because the hyperscalers all have the billions to throw at everything all new technologies and everything which we’re going to cover today. What they don’t have is time. That’s going to be a problem and when you’re looking at the time, it’s going to take three to five years to build a five gigawatt plant. We’re looking at you know how many 240?. So, doing the math, I have no idea how they’re going to do this.

If you’re wondering why, you see companies like Oklo or companies like SMR or companies like Bloom Energy and Bloom Energy we, blue Energy, we have in our portfolio when I realized this about nine months ago. They have to buy into these new technologies and SMRs aren’t even going to be available for a while. You’re looking at Oklo has a $20 billion plus market cap and they’re not going to generate revenue, not profits. I have profits, revenue. They’re not going to generate revenue until 2027, 2028. At a $20 billion valuation I mean if five times sales, which is conservative. For a technology company, you’re looking at $100 billion in revenue this company has to generate just to fit into that valuation. And why is that valuation so high? Because we need freaking energy and there’s a dire need for it. That’s why Microsoft’s signing deals with Three Mile Island right to restart that plant and that’s going to take five years. Not only is it going to take five years, that’s if you get state, local, federal approval. They booked out another 20 years after that. So again, someone that’s been doing this for this long you don’t see those types of contracts unless these guys are desperate and you may be saying, well, Frank, why are they so desperate? How come you’re not hearing about it? Because you’re not looking desperate, how come you’re not hearing about it? Because you’re not looking. We know where to look and they’re all saying it.

All the hyperscalers who met the White House not long ago. They didn’t meet there. I think Trump was talking to Tim Cook and said how much did you? How much are you billing in America? How much are you going to spend? Now America plans? He’s like 500 billion and Trump’s like say it again, say it again. That meeting wasn. It was about how in the hell are we going to get enough electricity to power this? Because the genetic AI is here, that’s bots, that’s millions and millions, tens of millions, hundreds of millions of these things are going to do people’s jobs. So when you look at Frank, hey, you know what You’re crazy. We’re going to have enough power, we’re not going to have blackouts.

Well, here’s what some of the biggest power suppliers are saying PGM, huge, I think it’s 13 states and northeast. Listen to what they say. Is it possible? The current pace of new entry would be insufficient to keep up with expected retirement and demand growth by 2030? And when they say keep up with expected retirement, they’re talking about retirement is going to be coal. Right, we’re phasing out of coal because coal is the worst thing in the world. Let me tell you something we were phasing out of coal a lot faster two years ago and now everyone’s like whoa. We need to put on the brakes a little bit because we’re really not going to have electricity. So coal’s not even phasing out that much, but we want to phase out of coal, which is going to create even more of a deficit for power.

If we look at the Department of Defense and what they’re saying, if current retirement schedules and incremental additions remain unchanged, most regions will face unacceptable reliability risks. Within five years, a nation’s electrical power grid will be unable to meet expected demand for AI. There it is. They’re saying it, the hyperscalers know it, but they just don’t want to sound the alarm. You want to know what the alarm sound for you is? I could tell you. I’ll show you a picture right now. This is your alarm. This is from Axios. This is electricity prices For the average US household. You haven’t seen nothing yet. It’s at 19 cents per kilowatt hour, and look where it was in 2022, right. So we’re looking at a 40% increase right off the bat. A lot of these people are seeing I’m seeing, I know you’re seeing 80% increases over the past few years. This is going to double in three years. It’s going to double. Your electricity prices are going to skyrocket from here. It’s just simple math, we have to. It’s going to double. Your electricity prices are going to skyrocket from here. It’s just simple math, we have to.

So what are these hyperscalers doing? They’re trying to lock in power that’s portable with Bloom Energy, that’s with SMR, and they’re trying because this way they can come off the grid, because when you’re on the grid, you need power that’s 24-7. It’s called baseload power, and baseload power would be nuclear, right? It’s natural gas, like solar and wind, aren’t baseload right? You need the sun to be out and you need the wind to be blowing to get power and, however, you need it during peak hours and when we have peak hours, we already saw blackouts in California and Texas. Now throw in all the data centers and it’s pretty crazy.

The people who control electricity are called ERCOT, and ERCOT is not just Texas, it’s a bunch of other states as well, and they’re forecasting electricity prices. Now, electricity demand has been flat for decades, mostly, and now they’re forecasting 2% growth, which is a game changer. It means you need massive hundreds of billions of dollars in infrastructure spent. That’s what they’re forecasting now 2% annual growth over the next five years. However, when you look to certain places like ERCOT, it’s Texas and the surrounding areas, maybe it’s Louisiana, arkansas and stuff like that. They’re expecting and let me put this here because this is insane 9% growth. This is 9% annual growth rate. This is for 2026. It’s going to go up to 14% the next year. This is unheard of. The energy crisis is here. It’s how we’re going to make money off of it. You can just sit back and pay higher electricity bills for your house and stuff like that.

What we want to do, and what we’ve done over the past year, is we’ve gotten ahead of a lot of these trends because of the contacts we have. That’s what we want to do right now. We want to get ahead of this. We’re going to share lots of stock picks with you. We’re going to give away lots of free stock picks. They’re going to be small caps as well. We gave away three in our last event. They’re doing very well. I’ll share those again. In fact, I could share them right now. It’s Bloom Energy. Bloom Energy was not going to be in our pick two weeks ago, but it fell 15% of the downgrade and immediately recouped 25% of that. They grew up 25% of that stock.

Digipower, dgxx is a company that owns all of their power. They own 100 megawatts of power and they were a Bitcoin miner and it puts Bitcoin miners in play, Because Bitcoin miners is called Tier 1 assets, that’s for Bitcoin mining electricity. When you transfer over to tier three that’s data centers the difference is tier one, each megawatt is worth a million dollars. When you go to tier three, each one of those megawatts are worth 10 to 15. It’s 10x to 15x more, 10 to 15 million. That’s what this small company is doing.

That’s what a lot of Bitcoin miners are doing. They’re transferring their energy, saying, okay, bitcoin, we got the halving. Our margins are going to get cut in half all the time. We’re not going to get as much Bitcoin. Fine, let’s transfer some of that energy over sign with the hyperscalers and that’s. The hyperscalers have all the cash. They have hundreds of billions of dollars to spend. They’re going to spend $400 billion this year.

No-transcript to pick the one that works out and they’re all working out. Now nuclear’s on fire again. Why not pick the one that’s going to work out? If any of these companies do well and this company is going to be generating a shitload of money from those royalties going forward they have deals with Chemical Orano, which was a reaver back in the day. It’s a private company, some of the biggest companies in the world, and they have all these streams that are going to come in as we produce, and that names up a lot. So those are three names we gave.

We’re going to give a lot more, but before I do that, I want to get to my interview with Amir Adnani Amir I’ve known for 15 years. We did a full interview. I was going to try to do this interview live, but it was so long. If you want to watch the full interview, go to Wall Street Unplugged. You could download it for free. I’ve been doing this podcast for 15 years. I know everybody has a podcast now. Right, I’ve interviewed probably almost everyone that you’ve seen on CNBC lots of millionaires, billionaires, economists, heads of state and stuff. Amir’s up there. Amir’s awesome. Yeah, I covered his company when it was a dollar and now it’s 13 and change $5 billion valuation and he’s going to break down a lot of the nuclear side of this and give you ideas.

I really put my feet to the fire when I was asking him questions Do you think the government’s going to take a stake in your company? What are you going to do? So I wanted to take out segments of the full interview because when I get in Mir and he’s so busy traveling the world, I think he just got elected. It’s almost like the board of the nuclear energy where Microsoft’s on. All the biggest companies are on. It’s almost like this Hall of Fame thing that he got elected to. But it was such a long interview I just pulled it out. I said let me pull out some of it. I don’t want to play the whole interview in a live broadcast. Let me pull out some of it. I’m going to show that interview right now and then we’re going to come back. Daniel and I are going to answer all your questions, so be sure to ask them on Twitter. Anything about AI, anything, anything you want about AI a lot of them here.

I’ve been covering this trend for a very, very long time. I feel like people don’t understand it. They think there’s an energy crisis, but when you put the numbers behind it, it’s even more than a crisis, because at 9% growth for ERCOT, which is covering Texas, the lights are going out in Texas. It’s going to start within six months. You’re going to see blackouts within six months. They just don’t have the power and just the infrastructure. So the good news for you is of these places.

But you want to see what companies can solve this problem in the future, because they’re going to be multi-billion dollar companies and some of them are trading at 100, 200, $500 million valuation. That’s how you make a fortune in the markets. Getting ahead of it. I mean Bloom Energy. We recommend it at 20, right, we’re up 200% on it. I love people upgrading Bloom Energy up 200% when we’re in it early. And we’re not in it early because I’m some genius. I mean it because we have very good contacts from my podcast that listen that email in all over the world and I share all that information through the podcast Wall Street Unplugged, so you can watch the full interview for Amir Nani. But right now I’m going to go to the segmented interview and Daniel and I are going to come right back after it plays and let’s see if we can get that up and going. We’re going to go right here. I’ve been looking back to see how long we’ve known each other. You know how long that’s been. Have you any idea?

0:19:35 – Amir Adnani

It sounds like you’ve thought about it. What’s the answer?

0:19:38 – Frank Curzio

It’s about 15 years. I knew you when you had your BlackBerry. You were one of the last to have BlackBerry.

0:19:45 – Amir Adnani

If you still have that. It’s probably a BlackBerry. I was moping out. I was one of, I think, the last two people left that still used that.

0:19:51 – Frank Curzio

But I went back and looking at when your stock was trading really low. I mean, it was like it was around $1, $1.25 back then.

0:20:10 – Amir Adnani

And even I don’t know if and this is going to be awesome you’re going to love this, but do you?

0:20:12 – Frank Curzio

remember this, yeah, when you came to corpus it’s so funny because since then I’ve gained weight and you’ve lost weight we were so young then and having fun, like who knew right, like who knew what would happen, and then we had this picture as well, if you remember, and I thought this was kind of funny when I was at the hobson plant, so with the yellow cake and just to put this in perspective to people watching.

It’s like a mirror, is probably like a mile away and being like you could hold that. I’m not touching it. And you know, I was like I think like four months later I had another arm coming out of my chest. I had to get surgically removed, but I’m OK. I really appreciate you doing that for me when I went to your opposite play, but it was, it was in all seriousness. It was such a great experience learning how important is it to really have the right administration in there.

Because, if you’re looking, you mentioned where trump signed executive order to quadruple us nuclear energy. Uh, in terms of the us uranium refining conversion corporation, fast tracking permitting for sweet water. Uh, banning russia iranian imports. I mean, how much fun is this? Because you know someone’s coming you. For a long time you didn’t really have the right administration. Then you have Fukushima. A lot of countries were just, you know, worried about uranium and we hate uranium, and now it’s just the growth that you’re seeing with this. How important is that to be in that right circle? Because it seems like if you’re in the right circle with Trump especially what we’re seeing, even with Intel, especially what we’re seeing with AI companies and if you’re in that circle, it seems like you’re getting the business, but it seems like the perfect scenario also on the political front. Talk about how important that is to you.

0:21:38 – Amir Adnani

For the 20 years I’ve been doing this and for my colleagues who have been doing this for 40 years or longer, it would be normal that if you were in the uranium business or the mining business or the nuclear energy business, you would pray to have a Republican administration and the Democratic Party didn’t even officially acknowledge or support nuclear energy. There has been a fundamental shift in that, and that fundamental shift really started around four years ago, which was the fact that nuclear truly became a bipartisan issue. And as much as there’s a lot to be said for President Trump’s executive orders that are transformative in nature executive orders that are transformative in nature we actually have to truly acknowledge that today we have this incredible benefit in the fact that, politically, nuclear is accepted for different reasons, by the left and the right, truly bipartisan support. The Russian uranium ban that you touched on did pass Congress while President Biden was in office, and it passed Congress with unanimous support. Not a member, not a single member, voted against it. It’s rare to find any topic in Washington these days where there’s bipartisan support on.

I think that also really confirms that the growth and the thematic in front of us of growth for nuclear energy, it’s not one that’s limited to political cycles. It really transcends that. And that, again, is what is necessary in an industry like this, where life of a reactor Frank don’t forget is measured in 50 to 100-year cycles. I mean, the usefulness life of these assets are tremendous, way more than a gas-fired power plant or an LNG terminal. That’s the huge advantage of nuclear power. It’s for that reason so critical to know that that bipartisan support is there.

0:23:40 – Frank Curzio

You have been walking into rooms in different conferences and traveling around the world nuclear and stuff like that. Walking into rooms and different conferences and traveling around the world, nuclear and stuff like that. What is that environment when you have a Microsoft and Amazon, one of the hyperscalers talking to you now and you walking in that room. I mean these are guys that are capable of probably writing a check that’s the size of your market cap and they won’t even know they wrote it the second they walked out the door. I mean, is it a different mentality of you going into a meeting like that and meeting some of these people? Because I’ve been covering this trend easily for the past two years.

When it comes to energy, we do not have enough energy to power the AI energy needs. People do not realize that they’re focusing on AI energy. Where I could put this chart up and I’m sure you saw some of this, elise when it comes to a Google search. But I’m sure you saw some of this, at least when it comes to a Google search. Right, it’s 0.3 watt hours of electricity. A single chat GPD query is 25 times more power. I mean, all the analysts that I look at, whether it’s Goldman, whether it’s Morgan Stanley, all the people that cover this sector. They’re basing their energy in the gigawatts that we’re going to need over the next three to five years. Based on this, agendic AI is using 79 times more power.

This is reasoning. This is where they’re going to operate autonomously. This isn’t the first inning. This is a new power chip which I’m going to get a look at. As you know, you’ve come with me to the Consumer Electronics Show one year. Last year it was in video with the keynote. They’re probably going to do that again as well. Amd’s going to be there. They’re going to announce the next generation of chips that require more power, being positioned here when you’re walking into the room with them. How is that landscape? I don’t know if you could talk about it, but I’m sure there’s a lot of those meetings going on where you’re just like whoa. This is a lot different from the traditional meetings I used to have.

0:25:14 – Amir Adnani

Well, yeah, there’s so much to unpack there. But, just in context, to achieve what we’re talking about here in terms of the scaling needed in data centers to meet the energy needs, it’s going to take a lot of uranium, it’s going to take a lot of copper, it’s going to take a lot of steel, it’s going to take hard assets. To realize this, when you look at the capex commitment from the hyperscalers just in one year, over the next 12 months and we’re talking in the hundreds of billions of dollars that number forget about UEC’s market cap but that number of total CapEx commitment is greater than the market caps of all mining companies, including BHP. I mean, that’s the reality of the size and magnitude of what we’re talking about. And traditionally, as you know very well, the hyperscalers, the Microsofts of the world, we’re not CapEx spenders but, for the benefit of the audience, when we talk about CapEx we’re most of the time talking about hard assets, commodities, things that basically you can touch and feel. And that’s a reality that Microsoft that was traditionally focused on writing code and then marketing software didn’t have, and it’s a whole new paradigm shift for these companies and it’s much larger than the magnitude of, like I say the entire mining complex, yet alone the uranium end of it, number one, number two, yes, and Frank, as UEC has achieved more and really positioned itself to be the American national champion for uranium, we’ve also made sure to get a seat at the global table and make sure that we’re making the US uranium case relevant again on a global basis. Recently I’ve joined the board of the World Nuclear Association and I can tell you, being there this past September where we had our annual event it was exciting to welcome Microsoft as the newest member of the World Nuclear Association. Think about that this association just turned 50 years old and for the first time in its history, a company like Microsoft has become a member of this organization. So, yeah, the people sitting around that table are not just state-owned companies of China, russia, the Japanese, the Koreans, but now an American company like UEC is at the table, but so are people like Microsoft. So the table, the number of seats at the table and the players sitting around the table pay attention to that. We pay attention to that and we look at sort of what the issues are and how we can position our company to not only grow but grow in providing the right solutions as a fuel supplier.

The big issue that we identified was the serious shortage of uranium refining and conversion. Uranium refining and conversion sits in the middle of the fuel cycle between uranium mining or mined uranium or yellow cake, u308, and enrichment. In order to be able to get the uranium to enrichment, you’ve got to be able to convert it. It’s this key middle-step bottleneck. There’s only one facility in the US that does this and that facility is 70 years old. On its own, it does not meet the US requirements for conversion, and that’s current requirements.

Yet alone, if we were to quadruple this domestic capacity for generation Remember, if we’re going to quadruple nuclear generation then we need to quadruple the size of the fuel cycle.

That’s mining, conversion, enrichment. That’s where we’ve also really positioned ourselves and announced recently, as you touched on briefly there, the intention, plans and this initiative to build the newest and largest uranium refining and conversion facility in the US, and it will be one of the largest in the Western world. And so, again, having the Microsofts around the table, being at that table, being at that table with size and scale as a result of the acquisitions we made at CycleLost all of that combined is what makes the opportunity today so exciting because you can genuinely see that you’re solving bottleneck problems. You’re providing solutions to these issues in order to provide the ability for energy generation and energy production growth to be realized. Without conversion, without uranium, we can’t just run nuclear reactors on air right. Nuclear reactors without fuel are just buildings with expensive equipment inside. So fuel is really critical to this whole equation and we’re solving for that in a big way.

0:29:41 – Frank Curzio

I want to talk to you and I’m going to ask you a couple of tough questions. Now we’re talking about this administration. We just saw the Trump administration use taxpayers’ money to take a stake in Lithium Americas. Great for investors.

Mp Materials I mean Intel’s, different, a little bit outside the industry, but MP Materials, rare Earth Miner. Do you see the possibility of Trump doing that with nuclear companies, uranium companies, with your company? And if they do that, I mean, how do you say? No, I guess, but is it kind of like crossing this road where, as an investor, you’re probably like, hey, you’re in Trump’s circle and now you have all the resources of all these countries and when he signs tariffs you’re going to be in the room with everybody? Or is it kind of like all right, we kind of like where it is right now and that independence? I’m just surprised that we’ve never really seen this before on the US side, where they’re taking stakes in actual companies and they’re doing it within your industry, of where earth metals, lithium, will go to nuclear, will it go to uranium? I don’t know. Is that something that you think about at all or just not really Look?

0:30:40 – Amir Adnani

as you point out, these are developments around us. Literally. We’re seeing deals like this get announced on a weekly basis. There is a paradigm shift here where clearly there’s a recognition politically that supply chains matter, supply chains of critical minerals that have national security implications, and energy security implications matter even more. We’re not talking about toys or gum or soccer balls. We’re talking about issues that go to the heart of national security.

Uranium in particular is interesting because not only does it power data centers and power homes and is fundamentally an energy commodity, but Uranium also powers the nuclear navy, the micro-reactors that power aircraft, carriers and submarines run on nuclear power require Uranium. Department of Defense and Department of War, as it’s called now, as it looks to power military bases using small modular reactors will require uranium and nuclear fuel and in particular, the uranium and nuclear fuel requirements for the US government have to be, by law, what is called US origin unobligated uranium. That means, in essence it has to be produced. Called US origin unobligated Uranium, that means in essence it has to be produced on US soil. It can’t be Canadian, it can’t be Australian, sure as hell. It can’t be Russian and Chinese, for sure, when you think about what are those critical supply chains with national security implications.

Uranium is on the top of that list.

Now there is no priority order in terms of which deals you’re going to see get done first, whether it’s a rare earth deal or a lithium deal, but I would argue, the most important transaction or announcement the US government could have had on uranium.

There are a couple of things that have already been announced. In fact, they were announced during the Biden administration. It was the standing up of the Uranium Strategic Reserve, where the Department of Energy is now buying uranium for the government account and we’re a very proud supplier of uranium to that, and we have. Also we were the largest recipient of the award for that program and the fact that the Russian uranium ban was passed, which hard codes and end December 2027, beyond which no more Russian material can be imported into the US, and so it codifies the fact that we have to build the domestic capability and currently there is a Section 232 investigation as well on critical minerals, including uranium that Commerce is running Frank and recommendations from Department of Commerce are going to the president very soon. Commerce did this, by the way, in the first Trump administration, and their recommendations back then were that there is a national security problem on uranium, that there’s too much imports from Chinese and Russian sources and that there should be remedies like quotas or tariffs, et cetera, that the US implements.

0:33:47 – Frank Curzio

If you’re looking at the industry the largest traded publicly uranium companies, and let’s take out chemical, which is like 50 billion. But if you look at USC NextGen, Centris, Energy Fuels, Denison, Uranium Royalty I get a combined market cap around 25 billion. It’s funny, it’s a drop in a bucket to Amazon’s spending $100 billion alone on AI this year. Right, Just to put in perspective $25 billion market cap with those companies and you’re in it with UEC also in uranium royalty. But then when I pull this chart up and you’ll see, this is a company called Oklo and Oklo what we just mentioned, which is the portable electricity this is a company that has remember those companies $25 billion. It’s a 19 billion dollar market cap and and no revenue.

You look at bloom energy is another one. I mean. You look at smrs is another company. When you see the demand that these companies are getting, with no revenue compared to all the assets that you own, does it ever make you think of maybe somehow changing the business model? Where there’s a reason why tesla trades is is bigger than all the car companies combined, because it’s not a car company, right?

It’s kind of like they’re looking at the future and they’re talking about optimists. They’re talking about robotics. They’re talking about robo-taxis, you know solar energy, powering, a lot of this stuff. Have you ever looked at that and said, wow, how do we capture that premium these companies are getting when they don’t need to have revenue? When you’re looking at okla, who’s not going to generate revenue for another two, three years? I haven’t seen if they have proven technology yet. Right, I mean, they say they do, but it’s not scalable yet they’re not generating revenue. It’s a 20 billion. They’re gonna have to generate over 100 billion in revenue to support that just a five-time sales. Do you look at it that way or just say, hey, you know what is? Like you said just before I ask this question look, it’s all going to be coming from mining and we’re in the right position, but do you think about that at all?

0:35:27 – Amir Adnani

We think about it a lot and I think we’re doing things about it. So, first of all, we’re the first uranium mining company anywhere in the world who in the last few months has announced major initiatives to go beyond mining uranium and go downstream and to announce our initiative on refining and conversion, which we’ve been working on for over two years. But these things take time to develop and if you’re going to be a serious player you have to put in the time to do the groundwork, to do the tech, to do the engineering, to be able to make those announcements. So UEC today is already highly differentiated, not just as the largest US uranium company, but as the largest US uranium company and the only American company that’s now covering end-to-end capabilities, from uranium mining to planned initiatives around refining and conversion of uranium. That’s one of a kind in the US and arguably the only company in the world that’s doing that right now in terms of going vertically integrated into the two key segments of the fuel cycle to support growing enrichment. Second, we recognize and actually see tremendous upside in the development of what’s going on with SMRs. Now.

Smrs for us, regardless of where they’re valued in the market today, represent a future source of demand for uranium and conversion and nuclear fuel.

We want to see as many of these units come online and we want to be supportive of that, especially in the US, where the SMR companies are leading the charge. To that end, you’ve seen that we’ve signed a supply agreement with Bill Gates’ TerraPower, who’s in Wyoming, and we’re in Wyoming and we’re looking to supply their uranium needs, and we made that deal with them over a year ago and recently, as you may have seen, nvidia even made an investment into TerraPower. These are the players that we are supportive of in terms of trying to support their plans and initiatives. These are some of the best players you could be involved with. We also have a supply agreement with Peter Thiel’s Radiance. That’s another SMR company. These are private ones. I mean, you touched on Oklo, that’s a publicly listed one, but there are many, many of these SMR companies out there who are looking to stand up the generating capacity on a small to medium-sized basis. Again, none of that potential future demand for fuel is reflected in the market today.

0:37:54 – Frank Curzio

You’ve been talking a lot about your team and everybody coming together. It’s because I got a good leader man. Seriously, I followed you for a long time. I’ve seen you at booths when uranium is not good and you’re always hanging out there talking to people and you don’t see a lot of CEOs doing that and you know who else is really, really happy right now. I can tell you it’s your shareholders. I mean, this is a really great chart, just to see the success of what you built right and going here, which is awesome. And also, I want to add, you haven’t sold. I don’t think you sold a share, right, since you’ve owned this company, right? No, when you do dinner’s on you, bud, I’m just letting you know Dinner’s definitely on you. So, listen, I know that you’re traveling. I know you go crazy. I wish we could talk a little bit more, but I just want to say I really appreciate you coming on. We have a lot of investors here. You know how long I’ve been in business for for a long time, covering you a long time. A lot of people own your stock and they followed you. They’re really happy and they love when I interview you. So I really appreciate that you taking the time to come to the podcast and give us a scoop, give us the update, because I know how busy it is for you and enjoy your success. You deserve it. You’ve worked your ass off. I saw it personally and it’s really good to see on.

All right guys, great stuff from Amir. Hopefully you guys liked it. I mean it’s a great interview. You could watch the whole interview. He digs into the royalty part, uec and everything. I just wanted to pull out a couple of components for you guys. You can do that on Wall Street Unplugged. Again, it’s a free podcast. I’ve been doing it for a long time. You could download it on iTunes, all the traditional outlets. You can even go to CurzioResearchcom. But now the fun part. You ready, Daniel? I’m ready, sir.

So now we’re going to go in a Q&A and make sure in that chat box we’ve got some questions that we’re going to get to them. So this is your opportunity to ask any questions you want. You got me, let’s go. So let’s start out right away, guys and this is from a friend that asked me a question. I’m going to take the first one, and this is Steve from Washington, who is a very close friend of mine since streetcom days, no-transcript. Man must be doing something right. Either that or I don’t know. But yeah, he’s still following us, which is great. He’s a really good friend. And he said hey, I’d love to ask a question. Here it goes, he goes the federal government has recently begun purchasing shares of several American companies that they deem critical to defense and security.

Hey, he talks about how it’s the rare earth, metals and stuff. He goes are these companies still worth investing in, and where do you wave of federal purchases and companies that are deemed to be critical to America’s defense? Okay, this is something, neo, that you’re asking as well, so I’m going to go on that as well. So, uranium is critical, right, it’s listed on a critical metal as well. I do think the government is going to take stakes. And, steve, you were asking are these companies worth investing in? I think that they’re more investable now, with the government taking a stake in them, than they were before, because mining companies we know is a really shitty business, unless those metal prices are going up, which they are across the board and we know with gold and silver. When it comes to the government, they’re not on the board of directors, they’re taking a stake and they want to make taxpayers money.

I would say that that was different from a previous administration. I don’t want to get political here, but we look at Trump and he’s like look, if we’re going to give you money, we want to benefit. That’s what he wants to do. He’s like I want to benefit. They have a 10% stake. And here’s the difference Now, when they need something, now when you have contracts, now when you have regulatory approvals, they’re going to get pushed through so much easier With these companies. That’s why they went up so much.

Now I think they’re more investable and I don’t like the trend. I don’t like the government’s taking stakes. I hate that trend. But my job is to make you money and that’s all I give a shit about. That’s all you should give a shit about, right? So what do you think is going to happen? All the ideas. Got NVIDIA behind him. He’s got AMD behind him. He’s got IBM behind him. These are the guys that are traveling. He got Boeing behind him, right? So when you have these companies behind every deal that he signs, he’s like here’s my resources, here’s you. Go to all these guys, right. Think they’re more investable now. I don’t like the trend, but I see this.

If you notice, amir kind of dodged that question. I don’t blame him. I would have dodged it too if I was a CEO of publicly traded one of the largest. It’s the largest company based on market gap a uranium company in America and the fast is growing right, so it’s $5 billion. I would have said the same thing and kind of like dodged it a little bit. I think that they might start taking stakes in some of the American uranium companies and if they do, you’re going to see these things pop tremendously and they’re going to be good investments. They are going to be good investments. If you want good examples, I mean we provide about 10, 12 stocks that are Trump stocks, where he has these CEOs traveling with him all the time. Even Apple’s in there now you have a lot of technology companies and these companies that are behind him BlackRock now Remember BlackRock. Holy cow. Larry Fink 13 trillion assets Remember that, Daniel. I mean this is a guy that was more left.

0:42:38 – Daniel Creech

I remember what you mean. Larry being a flip-flopper how?

0:42:42 – Frank Curzio

left. He was. And again these guys. I’m not giving them shit.

When you’re a publicly traded company and you’re that large, you’ve got to have politics on your, and DEI is the wave of the future. Now he’s like he just removed all his DEI programs. So it matters who’s with Trump, because Trump is a pro-stock market president and that’s his gauge to see if America is doing great. So taking stakes in this company makes a lot of sense from his point of view the taxpayers instead of just handing over money to Ukraine and nothing happens. He’s like nope, we want access to your rare earth metals, so we want to get something in return. So, to answer your question, steve, and also Neo, it’s very good, I think, from an investment standpoint, to invest in these companies where the government’s taking a stake, because that’s going to make an easy path compared to a different rare earth metal company that doesn’t have the backing to get a lot of these approvals, especially in the US, which is this is a dirty metal, this is dirty mining. This is a lot different where earth metals. That’s why we’re like China doesn’t care. That’s why we get 95% of them from China. 90%, that’s going to go lower and lower now and it’s going to push these companies to produce more and they got the government backing.

And if you’re a mining company, believe me, if you’re a real mining company, I spoke at events in Vancouver for such a long time. It was an important point. But if you’re a mining company, you have to have those politics on your side. I mean Secretary of Interior getting the permits and stuff like that. I’ve traveled with the Secretary of Interior for one company during the Trump’s previous administration. You need that, you need that stuff to get these permits approved, because they’re not easy, especially in a lot of states. Some states are much more favorable, but not all states.

0:44:18 – Daniel Creech

Daniel, let’s get some more questions, buddy. All right, sir, Coming after your pick here, Delta Mike asks you Roy, a royalty company that doesn’t pay a dividend?

0:44:26 – Frank Curzio

Yes, I’ll be honest with you, I would say that, yeah, franco Nevada and also Royal Gold, you could say that they really don’t pay a dividend. They both pay dividends at 8.7% and 0.8%. Royalty companies are more about cash flow than dividends. So all the cash flow that they generate and these are finance companies, so the financing is they have like 12 employees. They don’t have any risk of mining or operating and stuff like that or all kinds of crazy stuff like in the field. What they do is they go to mining companies and they’re great finance guys and they say I’ll take a piece of this company, the mining companies it makes sense for because they’re like okay, they’re going to get a check for a few million dollars and when we produce we’re going to give you a certain percentage and you’re going to be able to buy, say, gold at maybe $2,000 an ounce and it’s $4,000 an ounce For uranium. With UROI and even UEC, their average cost is $37 a pound. It’s $8 a pound, now a little over $80. But that’s what royalty companies do. So I won’t be focusing on the dividends. But this company is going to start producing because there’s really only two producers outside of Russia when you’re looking at Arano and also Cameco, and they have deals with those companies once they start producing in certain areas. So they’re going to start generating lots of free cash flow as more production comes online. But it’s also going to start with two projects, one from Arano and, I think, one from Cameco, and now you’re going to see that money coming in, that cash flow coming in. That’s when they buy back their stock.

So when you’re in a royalty company, I wouldn’t be in it for the dividend. I mean, they pay less than 1%. Why not take all the risk out of it and put it in Interactive Brokers’ money market account of Robinhood and earn 3.5% and you have no risk of the stock, the management, anything going wrong. Nuclear another disaster, whatever. Don’t buy royalties on the dividends. It’s the cash flow that cash flow is, so they can buy new royalties and that’s where you’re always going to be and have stakes in all these uranium companies. So as they produce and as they get bigger, this is a company that’s going to benefit. Or you could pick the individual ones. I like to just pick the one that has more shots on goal.

0:46:29 – Daniel Creech

More shots on goal. All right, the crab I like these X names the Crab. The Crab says in terms of building new power infrastructures. You’re saying it takes three to five years. Is that just based on approval? Would the government approve faster if lights go out more frequently, and could government? This is more like three questions, but that’s okay. Yeah, it’s money worth.

0:46:49 – Frank Curzio

Would the government approve faster?

0:46:50 – Daniel Creech

if lights go out more frequently? Could government restrict power supply to data centers so people can live normally? That’s a good question. We’ve gotten a lot of overlap. Keep your questions coming, but fire away there, Frank. Three to five years approval.

0:47:02 – Frank Curzio

So here’s what’s going on, right, we have the grid, which is regulated, and then we have outside of the grid which is not regulated. So all these new data centers that they’re building, they’re building with their own power sources, and that’s why you’re seeing companies like Oklo I’m not too sure how to pronounce it People always correct me I’m from New York, I pronounce everything wrong Bloom Energy as well. Smr is another company, right. So this portable power that could be used during peak time, I mean, is massive, right. So the infrastructure three to five years, a lot of times. Before they build this stuff, they got the permits in place, right? So we’re talking about assuming that they get the permits in place, right. So we’re talking about assuming that they get the permits in place already. And then it’s going to take three years, because that’s when you really commit and hyperscales really commit, and it’s different. It could be two years, it could be 10 years, right. Depending on who you’re getting to build these things. But the bottom line is it’s going to take too long to build all this stuff and there’s going to be huge energy needs here. But I just don’t. If you look at the math, they just can’t build it fast enough. So you know.

Getting back to your question here, three to five years, not so much on approval. I get those approvals and remember, there’s federal and state. It’s like two different governments, right, it’s like two totally different things. Federal we got, you know, trump administration all in all in on crypto, all in on. You know a lot of different industries now. You know a lot of different industries now. You know deregulation of banks, right, and he’s, he’s both part, even by the administration, was was pro nuclear, not as much. But you know, with the governments, it matters with states, because you can get stuff done like that. If it’s Wyoming Texas, you know some other country, some other states, but if you’re going to New York and California, good luck. I mean, all you do is walk into that room in those politics and you’re like, hey, I’m going to build. They’re like, no, that’s what it is there, right, it’s just, it’s crazy, it’s insane, right.

So yeah, to answer your question, when it comes to the three to five years based on it’s, not just based on approval, that’s including everything. From what I hear from my contacts it’s going to take three to build a lot of these things. We’re talking about five gigawatt plants. They’re building gigawatt plants. Now. The megawatt plants are smaller, but the gigawatt plants that’s what they’re doing now. They’re building bigger and bigger and bigger plants to Microsoft’s and Amazon’s and everybody’s. Hopefully that answers your question. Next one, Daniel.

0:49:07 – Daniel Creech

Well, yeah, I’m Daniel.

0:49:08 – Frank Curzio

Dan asks are there any ETFs?

0:49:10 – Daniel Creech

in your newsletter Newsletter Frank.

0:49:13 – Frank Curzio

Are there any ETFs in my newsletter? So we have a Curzio AI newsletter and, by the way, just for attending this event, we are offering a 70% discount. You can go in the bottom. You can see CurzioAIcom. I’ll also put a link in the bottom. It’s a good newsletter.

Look, when it comes to our newsletters, we have to show you performance. So you for newsletters is because there’s a lot of new people watching this and they’re like you should be skeptical. Go to Google, do your research on me, do your research on Curzio Research, go over, look at reviews, talk to people. That’s what I would do. That’s your due diligence when it comes to our newsletter. We do video newsletters. You know I’m doing it, just like we’re doing it right now. You’ll see me making these picks, telling you on video. I’m educating you, doing a 30 minute video on every pick and telling you about different AI trends and sampling stuff. It’s a lot of fun. You know, usually people subscribe, they stay there for a long time and that’s why we’re offering this as a significant discount right now. Again, you can find that at curzioaircom or you know we have the link down there that we’ll provide in the chat.

We don’t offer ETFs. I don’t recommend ETFs. You don’t need me to give you an ETF okay, that’s for people who don’t have the time, which is fine or you just want to play a sector right. For me, what my expertise has been is finding individual stocks, like finding the disconnects that people aren’t seeing. Find out, having access to every single research report all the institutions sell side reports and going through them and seeing if they’re wrong. Just like I started this presentation, the analysts, everybody’s all wrong on this. Everybody’s wrong on this. They’re on the wrong side. It’s like yeah, we’re going to need energy. They don’t understand the blackouts are coming. We’re in dire need of energy and there’s companies that are going to make a fortune, that provide technologies, infrastructure. They need to build this stuff so fast and that’s the next wave.

People say is it a bubble? A bubble forms. It gets bigger and bigger, but what pops it is when supply outpaces demand. It’s not the case right now. You see massive, massive, massive demand. I just told you $500 billion deals alone in the past 30, 40 days that have been announced.

So as long as you continue to see that spending, I don’t care what you think if it’s a bubble or not. You don’t want to be in the bubble. The NASDAQ doubled from 1999, right From 1999 to 2000,. People forget the NASDAQ doubled. It doubled from there. That was three years after Greenspan said we have a rational exuberance, which is crazy. So you want to be part of the bubble when it’s going higher and higher?

And I still think it’s going to continue to happen as long as these guys are spending money and they’re fighting each other. They’re going to continue to fight each other and spend hundreds of billions of dollars because the winner of the hyperscalers. What’s going to happen is you’re going to be able to gain a trillion dollars in market cap, which is insane. You’re going to be able to gain a trillion dollars in market cap if Microsoft’s able to outsmart Amazon, if they’re able to outsmart Meta and have the best agentic AI and all AI capabilities. That’s what they’re fighting for.

Just to show you, even when you’re looking at the $4 trillion in spend, if you’re looking at the GDP of countries, Daniel, there’s only five countries that have a higher GDP than $4 trillion out of all countries. You can’t put it in perspective. We hear trillions when we hit deficits. You don’t get trillions. When you talk about trends. You don’t hear that. I’ve been doing this my whole entire life. I mean it’s you know if you’re just in the right areas, if you’re just like focusing on companies that in the energy space that are just seeing, like you know, just a little bit, just hey, boom.

0:52:38 – Daniel Creech

Those are the companies you want to go in, and the sky’s the limit for a lot of them and we’re still very early on this trend. Yeah, there you go. Next question is from James Frank. With uranium over $80 per pound, could we be entering a bubble? You mentioned bubble earlier. Could we be entering a bubble for stocks’ cost?

0:52:52 – Frank Curzio

Well, I think it means just uranium and everything with stocks? Absolutely not. I mean, you heard the interview with Amir. Like, prices are down. What were they? 120, 130 pre-Fukushima, right? So you’re looking at prices at just 80. They were 100, what was it two years ago? I think so? No, I don’t. I think they’re going to go a lot higher, absolutely not.

And uranium companies right now have finally experienced this where, when they went to $100 a pound it was funny. I talked to Amir when that happened. I forgot it was like two years ago and they don’t hedge at all. And I was like do you want to hedge here at $100? I said don’t you think it would make sense? He’s like 60, and now it’s come back. But remember, uranium is a long time to build these plants. You look at three to five years. This is like 10 years, right, to build nuclear facilities 10, 15 years.

So what Amir has done with his company and I showed it in full interview, you’ll see this in the presentation it’s awesome. Look what that freaking guy did in the last 10 years when uranium sucked right, that’s what builds character. And this guy signed it’s like 10, 12 deals, all of them accretive, bought these assets cheaper than shit everywhere. Again, I provide the chart. Definitely go to that interview. You’re going to see why UECs are screaming buy here. He bought all this crap when people are like this is garbage, this is terrible. And now he’s sitting on like all these assets where it’s like holy shit, like perfect timing, knowing it’s going to happen. We laughed about in the interview I don’t know if it was in that part of the interview that I showed you, but we laughed at it. Daniel, just like you know, I thought it was going to happen sooner and I always felt bad for me because I’m like man, this guy if he’s in any other industry with his work ethic and I see him at conferences. He’s at Boots all the time. He’s talking to investors.

I’m not saying just getting started, but I think there’s a lot more upside for nuclear, especially when companies are paying for power that doesn’t exist yet and they’re buying it for 20 years out. That’s not going to be available for five years, like SMR Technology and stuff. And again, oklo and Bloom Energy. Bloom Energy does have. They’re generating over a billion in revenue. I think it’s like an $18 billion market cap. But if they’re willing to pay for that, yes, I think uranium.

I think he’s going to do great in this and maybe Cameco comes in with a bid. I mean Cameco is $50 billion valuation, I believe. I mean you’re looking at a mirror the largest in America is $5 billion, right, I mean they could pay $7, $8 billion. It would be unbelievable. Now you have the biggest American presence. I mean Cameco becomes a juggernaut. They already are, but this is even bigger. Maybe they go to 70 first, maybe they go to 60, but they’re going to be 100, probably in a couple of years from now and I think it’s going to be sustained there because of all. It’s just this massive demand that’s taken place, which the demand was there with electricity companies before AI. This was the thesis on uranium for such a long time when I covered it. It’s just they’re going to have to buy this electricity. They’re going to we are with this power, which is really cool. So I think prices for uranium go higher. I think the uranium companies go higher as well.

0:55:44 – Daniel Creech

And when you catch the full interview on the Wall Street Unplugged podcast, he was adamant, Amir, about prices going to $150 and beyond. So to your hedging question, he’s probably taking the long-term view and saying, eh, he’s going to bug you, Frank, when the prices are $150.

0:55:58 – Frank Curzio

Yeah, he’s going to bust my balls. This is why you don’t hedge, Frank. I didn’t bring it up to him again. I was like I don’t want to bring that up Because they went to like 60, 70, 60, and I’m like, dang, you should have hedged. He’s a great guy, mirna.

0:56:10 – Daniel Creech

All right. Another question from X. I’m going to butcher all your names here. Proprietor, I don’t even know what I’m saying there. Frank, if homes across the US are going to face unreliable power supply because of scarcity, does it make sense to invest in battery storage companies?

0:56:25 – Frank Curzio

Great, great, great question. Okay, that is one of the biggest opportunities and I’m going to show you a chart here. Okay, you just asked that question. So this isn’t like you know, pre and going through this, but let me see if I could bring up this chart really quick because I have lots of pictures and lots of charts, okay, so I don’t know if you know what LCOE is right. Lcoe is a levelized cost of energy, if you look at this chart. Okay, and this even without tax credit. So we know so long when their tax credits are getting taken away, that’s mostly for residential.

When you’re looking at storage and battery power, what they’re doing on the grid and even before I show you this battery power, what they’re doing on the grid, and even before I show you this, what they’re doing on the grid is during peak times. That’s the biggest thing. It’s like during peak times you don’t want to use as much electricity because you’re going to blow out the lights, right, the light’s going to shut off. So now they’re figuring out ways. Okay, ai, I mean, people aren’t going to say hey, between like 3 o way, they’re going to be using it during peak times and that’s where they’re going to have trouble. So what they’re doing is have they get more power and believe it or not solar I hate alternative energy.

I fucking hate it because I lost so much money on it. Anyone says carbon credits, just short the stock or punch the guy in the face. Trust me, it’s better to go to jail for like a month because that guy’s going to rob you. Right? It’s the worst, it’s the biggest scam when it comes to making profits in the market than ever and I’m not saying that in a bad way. It’s not economical. It’s being subsidized by the government. Now you’re taking tax credits away. We saw solar companies and wind companies fall. However, electricity prices what I showed you before are skyrocketing, skyrocketing so much where solar is now economical.

I want you to think what happens when something becomes economical. Think about your first computer, think about your first phone. What happens when everybody could buy it, when this technology becomes affordable? Now you have millions and tens of millions and hundreds of millions, and now billions. Right, because now everyone has a computer. Now that’s where you get Facebook. With how many accounts does Facebook have? What is that? I’m thinking it’s a 2-point-something billion. I mean, it’s like you know, the world’s population is what? Seven point, whatever a billion, but you know, when something becomes economical from a stock perspective, the scalability is on steroids.

And when you’re looking at solar right now, these companies have come down. Then they fell because of tax credits and now they’re starting to rise. Why? Because there’s certain solar companies that are focusing on hyperscalers and providing this battery storage. And when you look at this right LCOE very big word it’s just comparing the cost of energy for solar and this right here is gas turbines. It’s more money for gas turbines than it is for solar. It’s almost half right.

So when you see this work, we just recommended a solar company last month in Curzio AI Newsletter. We’re up 20% on it already. I think it’s going to quadruple from here. And I don’t say that often, I’m not just bullshitting you here. We’re a newsletter company where I buy a lot of these companies myself. A lot of newsletter companies are saying this is going up 50x and they’re not allowed to buy it because their companies are so big and they don’t want their employees buying the stocks. I’m buying them after. I’m recommending them to you. Okay, so I’m in it too.

So when people are like Frank, you know we do get some things wrong, like everybody else. But when we do get it wrong, we highlight it in the podcast because that’s where your biggest lessons are. I have to be right more than I’m wrong. I wouldn’t be doing this for so long, but you know, just being wrong on what you can learn is just incredible right. So even in a total energy space.

So, getting back to the point with the PowerPoint I was telling you, with power, with solar and storage, solar is here, it’s solar’s day and you’re going to see stocks. There’s two of them, One of them in our newsletter I’m debating because I don’t think I think this one’s too big for it. I like to recommend more small names in our newsletter, but I just want to see if I want to give this away really quick and now you know it’s live because I’m doing this. Let me see this way I could push some of this up. See, it’s not here. But the solar companies again, I don’t want to give away to a newsletter. People pay for it and you can find that out through the link below. But solar guys invest in solar and just make sure they’re not 100% residential, because that’s going to hurt them, because there’s not going to be huge demand Now you’re not getting just like Tesla and cars.

You’re seeing it right now in the EV space. That space is going to crash. You’re seeing a massive amount of orders now because the tax credit is going to end next quarter, so you really want to focus on the ones that have battery, that have storage, and there’s lots of solar companies. I’ve done my research on them and the one that I like the best it’s a single-digit name. That’s in our portfolio, which I love, and I think it’s going to go a lot higher. So solar is definitely a way, because of this chart right here, that I showed you.

When it comes to the cost of energy, I never would have thought this. Now you’re going to see solar explode because it’s economical without government subsidies or anything like that, and it’s more cheaper because everything else is going higher to build these things. That’s a trend you need to focus on, because now everything is sold is going to go to the roof. And again, you’re talking to someone who hates alternative energy, because I got my ass kicked a lot of times. I’m not going to get my ass kicked on this one. Like solar and even some wind plays look very, very attractive as long as they have exposure to hyposcalers. Keep them coming, Daniel. We’ve got some time.

1:01:11 – Daniel Creech

Frank, the question from the female Fight Club. I like that, but won’t people revolt if electricity prices double or more? They have already been attempts to stop the development of these massive data centers.

1:01:24 – Frank Curzio

Do you see consumer pushback? What’s a?

1:01:26 – Daniel Creech

consumer going to do Complain to your congressman?

1:01:28 – Frank Curzio

Yeah, that works Until Microsoft pays that congressman and donates a billion dollars to his campaign. You don’t matter when it comes to politics. I’m sorry, I don’t matter, Daniel doesn’t matter, nobody matters when it comes to politics. It’s just how much money they can all make politics and whoever they’re supporting, whoever’s ever donating. If you want to see, there’s going to be big pushback. What are the consumers going to do? They haven’t done anything and they’re up 80% in three years. They’re up tremendously. So as they go higher, I don’t know it’s going to be hard to really push back on this. I don’t know if the government may provide subsidies subsidies for I don’t know but I do know that electricity prices are going to explode hard.

This is a major, major, major problem. I don’t know the solution. The solution is to bring on more infrastructure. It’s just going to take too long. We need it now, right now, right this second. We need it. I mean, we’re looking at ERCOT. Someone said ERCOT’s just Texas, ercot and including ERCOT and three or four different states together, they’re saying the electricity price, ercot’s 9% alone, but just the surrounding ones. They’re warning. They’re saying, look, electricity prices are going higher. We don’t know what to do. So where’s the infrastructure coming from, I don’t know. They’re building it now, but it takes a long time to build this shit. They have the money, hyperscales have the money, but we’ll see what happens.

1:02:38 – Daniel Creech

We’ll see what happens. We’ll see what happens. Yeah, Brad asks. Ai is relatively new, Frank.

1:02:52 – Frank Curzio

What is your best AI trade? So far, my best AI trade has been I believe it’s Celestia, right? So that’s up 400% for us in our newsletter, and I think I have a copy of our results for our newsletter here someplace.

1:03:06 – Daniel Creech

Oh, you’re good, Frank, I got you, we’re live. Your top pick is 433 return 433 returns.

1:03:13 – Frank Curzio

Yes, thanks for coming on. So this one right here. If you see some of these returns, it’s all up. This is electrical component play and I’ll give that away because it’s already by. We made a lot of money on it. I still think it’s going higher. So this is Celestia and this is a company, right. If you’re looking at our gains in our newsletter right here, it’s pretty cool and, by the way, a top biotech company, right, and this is a great, great company that was a whole week ago, Frank.

This is the biotech company in our newsletter. The biotech company. This is one that does wet and dry labs. What does that mean? It means dry labs. Just take an AI and say let me show you what we can do with this drug and improve it. What lab does is it puts the drug through the actually use a drug and now through this company who’s been focusing on AI for three years, have a massive team that we recommend. It’s just biotech sucks for such a long time and we’re down on it. We have 50% stop on it, by the way, but now we’re up on it and this is a name that’s just incredible, because they’re lowering the time when it comes to the FDA approvals.

You go to clinical trials phase one, phase two, phase three and then approval. That whole approval is $2 billion and it takes about 12 years. I think you have what? 20 years for the patent? I think it’s 15, 20 years, whatever. That’s why the cost is so expensive, because if you look at pharmaceutical companies, they bear a lot of those costs through phase one, phase two, phase three.

Right Now they have millions, literally millions, of compounds, all these companies, and they don’t want to put them out there because it costs too much money to go through the process. This company has shrunk it down to $200 million to $300 million and a timeframe from 12 years to two to three years to get a drug to approval. Holy shit, that’s a game changer. So now you’re going to have the better thing Forget about stocks, forget about making money for a second. The better thing is we’re going to see all these compounds that are sitting wherever, and now you’re going to see more drugs coming to the market because they’re going to take more shots on gold to get things again.

Get cancer figured out, get all these MLS, everything. Get all this stuff to find cures and not just treatments and we know they want cures for them. So I don’t want to get off point here. But this is a company that’s fantastic. This biotech company. What was it we recommended? I said we’re going to stop out. It’s either we’re going to stop out, it’s $4, I think we recommend. I said we’re either going to stop out or it’s going to be a $4 stock.

1:05:22 – Daniel Creech

We almost stopped out, either going to lose 50% or make five times your money, and that’s how I pitched it to everybody.

1:05:27 – Frank Curzio

I said look, if you’re willing to put money in where you could afford to lose 50% of this investment using my investments, it will be 35% stop loss. Some of them are. I pitched it that way. I said this is a stock. I love this stock. This is a name, but it’s a biotech company. Look, you’re either going to stop out of this thing. It’s going to be $40. I think it’s going to go through the roof. These are the companies that we find. Even the one that’s up 438% that you see here, which is, I think, 416 now, is Celestia. This is a company that I got from one acquisition and new technology they’re using, and then he didn’t specifically give me this company. He gave me the new technology they’re using at data centers and this was part of it, and I just found this company as one of 10. And I said, holy shit, this company’s great. Let’s recommend it. These guys just get a tiny bit of business. This thing’s going to go through the roof.

And that’s what happens to companies in the AI space that suddenly are getting into the AI trend, where they’re able to capture hundreds of billions of dollars in their spending. They’re able to get a piece of that and that’s what they’re doing. Look at Micron, look at IBM, look at IBM, look at Micron. Even Oracle, they were kind of late to the AI party. They were late to the AI. Even AMD was late to the AI party, right, I mean really seriously. I think it was like 20% of sales, 30% of sales. It was, of course, the NVIDIAs. You had the Microsofts and all them. But those guys even being late to the party, look at where Oracle is. They weren’t the great play right off of two years ago when NVIDIA reported that insane quarter out of nowhere.

No, so these companies are all saying and that’s what? Dgxx, which is another free one, I gave away Digipower. They have 100 megawatts of power. They could scale up to 200 megawatts of power. You’re looking at a company with what? Maybe under $100 million market cap, I believe. I don’t know where it is today and yet they’re sitting on.

Remember what I said tier one and tier three. Tier one assets are a million dollars, that’s $100 million. But they’re transferring those assets over to tier three, which is going to make that a billion dollar company trading below $100 million valuation. And they’re doing the infrastructure now. They started a year ago what Bitcoin miners are just starting to do in the last three, four months. So that’s the under the radar play that I like. These are names, these single-digit names, that if they get that business, if they focus on hyperscalers, they want to get a piece of that total addressable market, which is $4 trillion over the next five years. That’s what every company should be looking about. How do I get this much of a piece of that pie? Because my stock’s going to go through the roof and we’re going to be extremely wealthy. That’s what we want to do as investors.

1:07:44 – Daniel Creech

Next question is from Jordan Frank. You mentioned the potential for blackouts in six months. Are there companies such as Generac Power Systems that could benefit from providing solutions to these power outages? This is a Daniel.

1:07:56 – Frank Curzio

Creech company. So go answer that, Daniel, let’s show us. Daniel knows his company much better than me, so go ahead.

1:08:01 – Daniel Creech

This is a good company and I do like this. This is starting to get into the data center plays. In fact, when you go to the recent conference call which was on July 30th for Generac, it was their Q2. The CEO I think he holds more titles than that chairman and everything he was talking about. How this is Frank, check this out and I wrote this down because I thought my eyes were lying to me. It’s why I wear glasses. Data centers are the biggest needle-moving opportunities I’ve seen in my three decades. Frank, he’s as old as you Three decades in the company as CEO.

1:08:32 – Frank Curzio

That’s what Generac says. He’s as old as you. I’m kidding.

1:08:36 – Daniel Creech

Now he was talking about, the CEO was talking about, and they mentioned on this Q2 conference call that they, being Generac, are new to the data center play. They threw out a number about $150 million in backlog. That’s not a lot in terms of AI and it’s not a lot in terms of their revenue of over $5 billion projected for this year. However, it’s a great play in general. On battery storage, I think and it covers your residential Frank mentioned the solar on the residential side is a question mark from an investing standpoint right now. But Generac, I do like this. The stock has pulled back. I’m digging into this further. It’s not a recommendation right now but yeah, this is a great question and something to dig further into, especially on the pullback and it’s ramping up into data centers. I just don’t see how you don’t have further headlines in the future moving this stock and I think it’s to the upside.

1:09:20 – Frank Curzio

James do? James has a question yet.

1:09:23 – Daniel Creech

What were you going to say before that? I was going to say I was going to give you a hard time. You don’t have any comments on Genrec. No I mean, you know better than me, right.

1:09:30 – Frank Curzio

James, I don’t know.

So, James is a one member, which is our highest tier when we get into private placements at the same terms that I’m getting in, and we’re having a one conference pretty soon, which is cool, and November, our first ever, which I’m excited about, but I don’t know if we. I think he had a couple questions, but he just said something here. This is why I love doing this stuff, because it’s networking right and we’re doing it live. So James asked he goes. My state, colorado, just announced that from 5 to solar panels installed and you signed that before, because then you’re going to receive the tax credits. But think about that. That’s Colorado I want to hear. So I don’t what Dale and I are good at is. We’ll look at stocks.

Okay, my dad did this for 30 years. My late dad and I followed in his footsteps. He’s a fundamental analyst and I worked for Jim Cramer for five years and that was a great experience because we had to cover every sector, every stock. I know people have negative things to say about Cramer, but for me, the learning curve my dad was a value investor and Jim Cramer was a growth investor. Having those two educations have been incredible for me from two great people. My dad was a really, really great analyst. He won the Wall Street Journal stock picking contest all-time winner in that. When they used to have that back in the day, he was on every show where they only used to have like 10 analysts and people listen to. You know, 20, 30 years ago Everyone has an opinion. Now they have 50, 70 analysts on a day now on CNBC and Fox Business and stuff like that.

But you know what we do is, you know, analyze companies and look at the numbers and go to our contacts. But what you guys do and what our network is and what our podcast is about, was people emailed, stuff like that, and that’s one state I want to hear from you. If you’re hearing something from your state that’s incredibly valuable to me because now it helps me find the right stock picks right. Even better, it’s giving me more information, and that’s why we’ve thrived in our performance and why I’ve been doing this for so long is the network is massive right now. Right, I mean we’ve gone out. I think we’re over 20 million downloads total, right, which is incredible. I mean it’s incredible. I just I think it’s crazy that that many people want to watch us. To be honest with you, I’m like you got nothing better to do, but it’s cool.

And but I learned just as much, because if you’re in a particular industry and I don’t care if what job title you have I mean I remember when you know Dan, I think I told this story with Instagram. Remember when Facebook wanted to buy Instagram? When it was Facebook, they wanted to pay $2 billion. You should watch CNBC. Like those three days, like CNBC was just like. This guy’s an idiot. You should fire him. He has no idea what he’s doing. Zuckerberg, he’s an idiot.

And for me, looking at the numbers I Everybody’s using this this is massive and that franchise if I had to guess, I mean you could probably Google it. It’s probably what for $2 billion to $3 billion, it’s got to be worth $300 billion, right? So the information that I got from college students helped me tremendously to see that, because if I was only looking at the numbers and the point is the network right here in Colorado, I want to hear from you, if you guys are out there. You hear things like electricity bills, different states, your electricity bill going up three 400%. You know that helps us tremendously along this trend where it allows me to expand like that total addressable market of stocks that I could pick and that matters in what stock selection I do, because you know just which ones are focused more on certain states that have more demand for electricity, where they’re building more data centers right, that’s a big data point.

So I love that, james, great, great. And I’m not just saying that because you’re a one member, because you pay for our highest membership and I think you just you said you’re going to go to having a Pier 66 from November 9th to 11th, that’s in Fort Lauderdale. That’s our one conference for one members. That’s, let’s keep going. I’ll give you a mission. I’ll say it just because he’s a one member.

Way to go, James, Way to go.

1:13:05 – Daniel Creech

James hey, robert asks oh, we need to. This is a good question. We need to get your boy, Frank Holmes, back on the podcast.

1:13:18 – Frank Curzio

When are you going to come on was in that financing at 25 cents, I went to four and I eventually got like at 230, 240, I think it was a monster winner. Monster winner for me and Frank got me in that. I also rang the bell with him on the stage of New York Stock Exchange and I just go there. But he invited me because and this is when he was launching the I think it’s the gold ETF, gogold and I guess he didn’t have too many people from his company. So, yeah, you can come up. I think there’s only like 13 people that can actually go up there sometimes because it looks like it’s going to collapse in the New York Stock Exchange. So I’m very close with Frank. I love what he’s done with Hive.

One thing I will say about that is he’s so focused on clean energy and it was such a big deal in a previous administration where a lot of times were you hearing like, hey, it’s clean energy, it’s clean energy, it’s clean energy. When I hear clean energy, I think the worst performance your stock’s going to have because of the costs involved in it. And now I don’t think he has to focus so much where he has clean energy a lot of these places with Hive, and also he’s another miner, right? So he’s a crypto miner and now you have Bitcoin in your balance sheet, whether it’s Ethereum in your balance sheet. Now you’re transferring over these assets because you know hyperscales are in high demand for tier three. I’m not saying it’s easy to switch over probably take a year to switch over. You need the proper infrastructure. I’m actually going to meet with DGXX and go on site at one of their plants, probably in New York and also in Alabama, to see. They just closed an Alabama plant to get all this over and I want to see exactly how they do it. I’m going to film it and everything. This is what I love to do, just to learn. How hard is it? How long does it take to convert this no-transcript and this way, whatever, or leverage your Bitcoin? But these guys are raising money instead of saving their Bitcoin, which is diluting your investors, and now you have so many shares outstanding that the stocks haven’t really moved higher.

So, with Hive, hive’s in a really good spot. I think he can do very, very well and I’m going to have Frank Holmes. I’m talking to him, I think in two days, I think on Friday. So yeah, in two days. I’m talking to him, so he’s going to let me know if he’s going to present at my conference and sponsor or if he’s going to come to the podcast. But you know, Frank’s a very I saw the Boeing trip in Everett Washington with him, copper Mountain with Marin Katusa. I’ve been on a lot of trips with him and man, he’s older than me you would think he’s younger than me. He’s out there, he’s running around, he jogs every day. He’s a great guy. He’s a very good analyst, very into data analytics and stuff. A very, very smart guy. And Hive’s just well a whole global business and stuff. But we’ll talk mostly about Hive, which I believe he’s the chairman of Hive. He’s the chairman of Hive, so he should be pretty cool yeah he’s a big wig, you know that.

Yeah.

1:16:12 – Daniel Creech

I love Frank. That’s great guy, Frank. What is the Bayer thesis to this?

1:16:18 – Frank Curzio

Good question. That is a good question. The bare thesis is if we don’t see a high return on investment on this but people believe that we’re not seeing a high return on investment. I will say this Go back last quarter and the quarter before and look at the profits. Just go to Amazon. Meta, apple’s not really an AI right now, but they’re going to be an AI pretty soon.

You go into Amazon, you go into Oracle. Look at the profits that those guys are generating. Their businesses are all growing like 15%, 20%, 30%. When you look at all the segments of their business, it’s unbelievable. This is growing 15%, 17%, 20%. Cloud’s growing 30%.

I think the biggest thing is if we see a recession where prices are going through the roof I don’t know if you saw airline prices lately. I don’t know if you saw prices across the board Like 3% fee for credit cards. Everyone’s passed that on. I mean electricity prices are through the roof. There’s got to be a point when people are like holy shit.

And if the economy falters, what that’s going to mean is what this whole AI trend is about is about predictability. It’s about going to an advertiser and instead of you walking in and say I want to advertise on a golf channel who’s watching? And you could say, okay, this many people watch. Maybe somebody left the TV on and walked away. Or you can go to Facebook, right. Or you can go to Google and say, hey, you know, on YouTube or this or that, or even Facebook, you could be like we have seven. If Starbucks was a Facebook and wants to sign a contract and says, hey, we’re looking to do an advertising deal, facebook would be like, okay, here, right now, you have 9 million people that actually checked into a Starbucks right now. They’re in a Starbucks, right, this second, what do you want to send them, right? So that’s what this is about. It’s about having the biggest return on your ad spend for these companies, where, if I want to advertise my newsletter, I don’t want it to go out to people who’ve never bought a newsletter before. Now it’s more targeted with people who just bought a newsletter, who are into AI energy, who, this way, they subscribe to my newsletter, we can generate more money.

However, in a weaker economy, those companies are going to slow down their spending and if they do, that’s going to hurt some of these hyperscalers, right? So the bare case is, if we see a big recession, I see a crazy geopolitical event. I don’t see spending slowing anytime soon. But I think the bigger risk is buying the wrong companies because everybody says they’re into AI. Believe me, everybody says we’ve got AI, we’ve got AI, and half of them can’t even explain what they’re doing with AI. And there’s some companies that are really integrated into AI that are going to make a difference.

And you starting to see those trends, too, where software companies are not AI companies. Ai companies are direct competitors of software companies. My Salesforce has gotten annihilated. You look at Snowflake’s got annihilated, but now it’s starting to come back a little bit because they’re figuring it out. So I think the biggest risk is not being part of this trend and not knowing where the money’s flowing to. And the big risk is the hyperscale is like okay, we’re done, we’re going to slow down spending now and once they do, you’re not going to see so many companies benefit. But where we are right now in this trend with AI energy, that has to happen based on current demand and demand that we’re going to see at least in the next couple of years, which is not slowing down. Those data centers are going to be built over the next couple of years. They’re already paid for. So when it this energy mostly charts I brought up were pretty much from like two months ago in estimates this was before $500 billion in deals just got done. Holy shit, right.

So for me I’m always looking at the risk more than the reward, because it’s easy to pitch the reward and say, oh, you’re going to earn it 400 times, just like I pitched the biotech stock. I said, look, you could lose 50% of the stock, but the risk reward is very favorable because this could be a 10X for you if they get this right and if you want to invest in it, no, but that’s your choice. But at least you know right because I’m telling you the risks. So I don’t see the risks right now. I still spend in continuing for a lot of it. The risk is buying the wrong companies in the wrong areas and some people have gotten killed on some of those and you have to understand and look under the hood which companies like don’t buy all solar companies Residential can get crushed right, but solar companies that are really focusing well, I found two or three of them. One of them I recommended in the Curzio AI newsletter. It came up 20% in a month on this thing. I think it’s going to go. It’s a single-digit stock.

1:20:23 – Daniel Creech

The other one’s focused on hyposcalers and that’s how I try to reduce risk as much as possible. Reducing risk, that’s a good one. Next question, Frank we have several that are overlapping between power generators or batteries and then basically the logistics on how to get there. So how do you get power from the generator or whoever’s generating to the in need? Mitch asks might be a dumb question. There’s no dumb questions. There’s no dumb questions.

1:20:44 – Frank Curzio

Sometimes there’s dumb questions, we’re not on my end Mitch.

1:20:47 – Daniel Creech

No, no, I’m just kidding, Mitch. This isn’t a dumb question. You’re right, there are dumb questions.

1:20:49 – Frank Curzio

Where can I find you, Frank? Where can I find you? Just go to Curzio Research.

1:20:54 – Daniel Creech

Are there infrastructure upgrades needed to transport energy created to the companies that will need and use to power AI Short?

1:21:01 – Frank Curzio

question is yes.

1:21:02 – Daniel Creech

Next question is no.

1:21:03 – Frank Curzio

I’m kidding, go ahead. That’s a great question. Yes, of course, right, because we’re not just getting the power on the grid right, we’re getting the power. A lot of these data centers are building their power. How do they get it there? Right? If it’s natural gas, how do they get it there? They get it at pipelines in the US. You can just punch that up. It’s pretty cool when you see it for the whole United States. But absolutely, I mean that’s why you’re making the money too, because it’s the energy, it’s the infrastructure, it’s the companies that are building this.

Like think I don’t know a lot of you, I would bet, have never been in a data center. I mean it’s like it feels like it’s like 100. As soon as you go in there, you start dying of sweat because you have to cool the machines. Now you have water, you have liquid cooling, there’s different technologies and that’s a big part of the expense. So if someone could come up with how, on an infrastructure level, how we could lower the cost and cool these servers, that company is probably going to be a $10, $20 billion company, right, and that might have a $100 million market cap right now. So the infrastructure plays in what we’re looking at in our newsletter. So it’s not just the energy, it’s the place off of that, which is infrastructure and how they’re going to build this, because there’s a lot of building that needs to take place and that’s why I’m having good contacts in this industry to help build the hyperscalers.

And again, I provide me information. Get free access to my newsletter right, and that’s the way it should be right. That’s how I grew up. Listen, you’re helping me. You’re helping, not just helping me, you’re helping the people I broadcast to right. Hundreds of thousands of people who are coming in that are investing with us by getting this information right, right, so it’s a tremendous help for us and a lot of people. I could tell you we have probably 150, 200 free subscriptions and different newsletters from people saying, hey, just let me know what’s going on every now and then, just give me a shout, let me know You’re in the industry, you’re going to know exactly when it’s happening. That’s real-time data. I’m not asking for inside information, I’m just looking for information that’s happening where Celestia we knew before everyone else knew. We’re up 400% on it and again, it’s a company that’s also me and that’s what we want to do for our subscribers. It does it feels really good. I’m not going to lie.

1:23:04 – Daniel Creech

Just to piggyback on that, yes and again. The exciting thing, one of the exciting things about this trend is that there are several ways to play, and Frank did point out. The risk is buying a wrong company and that sucks. However, you have utility companies, power generation companies and to piggyback off this question like I said, it was a great question you want to look at transmission lines? So you have a company Quantum Services PWR is the ticker. Frank, I don’t know if you have charts, it’s not a big deal. If you don’t, it’s rallying, like you would expect, because it’s kind of this underlying boring company.

Everybody’s talking about data centers and such, but these guys talk their CEO and president, earl Austin again, I’m looking at the July 31st conference call from their second quarters they talk about how this is a generational buildout.

A lot of these guys when I say a lot of these guys, you’re talking about power companies, from utility companies to transmission companies, to everybody in between Keep referencing hey, we need these infrastructure buildouts from previous generations, like after World War II and coming into the 70s and 80s and such. Now all CEOs are supposed to talk their job, Frank, we joke about that, but there’s a fine line between cheerleading just because of your calls and also being realistic, this is a paradigm shift in energy demand. Frank mentioned how we’ve gone over a decade with very low or no electricity demand. You got offs, you got offshoring, you got improvements. You have reasons behind that, but now that has flipped we’re back into growth mode and these guys, like I said, quantum services on their recent conference call, talking about generational buildouts. Not a dumb question, great question. You can look across transmission lines, power and everything, including battery.

1:24:38 – Frank Curzio

Yeah, it is, and you look at it, so I think you told everyone about this about five years ago. It’s up 638%.

1:24:45 – Daniel Creech

It wasn’t that long ago, but we’re up since we’ve been BSing.

1:24:48 – Frank Curzio

No, we have been on it Again. This is again all the power lines right. There’s so many companies I could talk about where it’s just the power lines, the infrastructure build the liquid cooling, the technology, the servers right, and then you have the chip companies. I mean all this filters into the power because of all these deals, you’re going to need even more power as they build these things and you know, there’s just so many different areas that make money in this trend and you can’t feel like you missed it because you missed NVIDIA. I wouldn’t tell you to buy NVIDIA here. I don’t think it’s going to go lower from here, probably go higher, but it’s not going4 trillion plus valuation. Again, its market cap is bigger than every country’s GDP outside of five. I mean, holy shit, that’s how big of a media it was. And Jensen Wong if you get a chance, definitely watch it on CBC.

What a great interview. The guy’s awesome. I mean I’ve seen him so many times live and stuff. He’s just charismatic. But that interview was really really good today.

What it does is forcing these companies and China’s upgrading on a weekly basis, like other chat. Gpt might be monthly, every couple months, but it’s pushing. It’s forcing these guys to spend more money to stay ahead. And why would they continue to do that? Because we’re talking about companies that have $2 trillion to $4 trillion plus valuations, and if one of those fall off, that money, that valuation, is going to go to one of those other stocks. So you’re talking about hundreds of billions of dollars, maybe a trillion dollar. Maybe NVIDIA goes to $5 trillion, or maybe you know, meta or Apple or whatever. Apple is going to be really big here.

I think, too, they missed this trend completely. But when you’re the biggest company in the world that controls the world through your phone, there’s no Facebook, there’s no social media without your phone, phone. It’s just a matter of time before they get into AI. They could partner with anybody. They have hundreds of billions of dollars in cash and that’s what they’re going to do. Plus, they have a monopoly on podcasts basically you could say Spotify, but just on the iTunes store and stuff and apps. I mean not a monopoly, but everybody really goes there and they charge 30%. They just have the ability to raise their prices tremendously. Because you can’t really. What are you going to do? Cancel your account or cancel your cloud with Apple, right? It’s hard, it’s not easy to get all that information over to a Samsung. So you know, just being in the right areas too, you wonder why the spending is not going to slow anytime soon for these guys. They’re just going to continue, at least for the next few years, and we’ll let you know, right? This isn’t me saying like holy shit, I’m on this trend for the next three years. I mean, if three, four months from now, if I talk to my contacts and they said Microsoft canceled, these guys aren’t doing this, I’m going to come out and say, hey, you know what we need to ease up a bit. Right, that’s my job. Right, that’s what you pay me for for my newsletter, right? So that’s important, having those contacts, I’m happy for them.

But your thesis on gold should not be buy gold with interest rates. You don’t earn interest on gold. When interest rates are zero and you’re pushing everything down to zero, every asset class in the world is going to go up tremendously and you have a government spending like crazy. Gold’s not really the right investment in that. Since 2010, since we decided to pour all this money, especially since COVID. Now, you’re seeing it, you know gold, there’s a time to buy it and a time not to. So you know, don’t get stuck on a thesis where it’s AI, no matter what. No, it’s the data that I’m looking at. It’s the context I’m looking at.

I’ll change my mind if the data changes, and that’s what I’ve done throughout all my career Are there, know like, do anything crazy, but you can do whatever you want.

1:28:00 – Daniel Creech

I mean hey, you’re the one teasing about beer. Old school, you need to drink a beer?

1:28:03 – Frank Curzio

What about old school when he’s running naked? I wouldn’t do that. I wouldn’t do that. Everyone’s doing it. He looks behind him. There’s nobody there. He’s like everybody. There’s like nobody behind you and he gets into the car naked.

1:28:15 – Daniel Creech

That’s such A lot more of those on Wall Street Unplugged when you tune in regularly. Neil asks Frank, is this a problem just for the USA or is this a global issue?

1:28:25 – Frank Curzio

It’s a global issue when it comes to power. It’s a global issue. That’s why the Middle East if you look at how they rolled out the red carpet for the US, that wasn’t about us, you know, like peace talks and stuff that was 100% about AI, because they have what do they have? A shitload of energy, right, and now they can build data centers there and that’s why you have, you know, microsoft was there, nvidia was there, ceo of NVIDIA was there, you got AMD there, right, you have all these companies IBM was there, all these companies that Trump’s like hey, you signed a deal with us, this is what you get. And they’re like absolutely, because we’re all going to make an absolute fortune if this happens. We want the best technology when we build this stuff. That energy is right there for the taking. And that’s the problem. When you go close to the grid, it’s good. You go away from the grid and you want to build away from the grid, it’s not as easy. Now you need power, portable power. How do you get that? And that’s where these technologies, where I Oklo, I missed that’s Bloom Energy. Bloom Energy is on fire. We killed it with that one. What? How much in the newsletter? Well, 200% in our newsletter now on Bloom Energy, but Opal I missed.

I was like I’m familiar with SMR technology and these small nuclear reactors. There’s three of them, only three of them, in the world. There’s two in Russia and I think there’s one in China. And there’s a reason why they’re in those places because they don’t really care about local governments or anything like that. There’s one government. The guy says, nope, you’re doing it here. You’re going to have to get local, state and federal approval for something that’s nuclear that hasn’t really been around before. That’s freaking scary. That’s no guarantee and I’m like these guys aren’t generating revenue for another two, three years. But yet it just shows you the dire need of new technology to fuel this boom where you have the biggest companies. Believe me, these guys are brilliant man. They’re the smartest people in the world. The engineers are the smartest, everything. We have a trillion-dollar company and Microsoft’s trying to hire people from OpenAI. Nine-figure deals how much is a nine-figure deal? Holy cow. I mean that’s insane. That’s how much money they have. So they have the smartest people around. They’re locking in energy that’s not going to exist for another three, four years and they’re locking in 20-year supply. So it just goes to show you how big this is. And, yeah, we’re really excited and we’re in the right area here.

So, real quick, I have a question from my boy, will. So Bill’s a good friend of mine. He’s in my fantasy football leagues. Good thing you’re not and you didn’t go in Fred’s league this year because I’m 5-0. Just to let you know, got to pride myself on fantasy football, which is very lucky. But he also said Long Island’s doing the same.

When it comes to electricity prices. This is cool. This is the stuff that I want to know, like how much electricity prices are going through the roof, the increases? Are they telling you certain areas? Again, I’m in Florida. I live in New York most of my life. The last 13, 14 years I moved to Florida but having access and our podcast gets broadcasted to I think it’s over 125 countries I can’t tell you how many people email me all over the world like China and trends and what’s really going on in some of these places, why we were able to get out of the stock market and sell almost everything in our newsletters for COVID.

I mean, china closed two weeks before our market crashed. All their businesses closed, they shut it down, they locked down and that was a growth market of the world in late 2019, right, that’s where the growth was. They’re shutting it down. Apple, starbucks, yum Brands, all these companies they shut everything down. We were able to get out because of the contacts that I have there, where I did two interviews. I did one in December, right, I think COVID really hit here in mid-March in 2020, on lockdown in Italy and someone else on lockdown in China. And when you say lockdown, we think stores are closed. They were on lockdown. They had chains on their door and they had people coming in, opening their doors and giving them food and stuff like that.

I was like, holy shit, how bad is this so having that? You know, that network is incredible for us, right. It’s allowed us to do so many great things, have great returns and find great ideas, so I appreciate it. Thanks, phil, for writing in. He’s a good friend. I’m probably going to see him in a couple weeks. I’m going to head to New York and we always grab a beer and stuff like that when we go off to fantasy and stuff like that. Hopefully, everyone will get together. Okay, let’s get a couple more questions in.

1:32:16 – Daniel Creech

You brought up Oklo. This is a good one on valuations and sentiment. Should you short Oklo, then no, no, no, no, no, no, no no.

1:32:25 – Frank Curzio

Don’t ever short, don’t short anything, don’t short anything. And I’m telling you that because you’re going to get annihilated. It sounds like a good strategy. It’s for the professionals Most people who say they’re short, they have other things going on to cover their short and limit their risk. Right, these are the good traders, like Chanos. But when you have Chanos, you have the guy from Citron basically walking away and saying we can’t do this anymore. This is the reason why I mean, if you listen to me and I’m going to bring this shot up of Oklo, I’m going to bring this up really quick. This is going to be cool.

This company is on fire, right, every time I look at it it’s higher. I said for today it’s flat $133 a share. When this thing was at $25, if you wanted to listen to me, I would have told you short the crap out of it. I mean I wouldn’t tell you to short it, but I hated this stock. I mean I was looking at this name and I’m like I mean you look at this chart for a year. I mean this is a $25 stock not too long ago, right in April, may, and now it’s $133. And I hated this company at $21. And I hated it at $30. I hated it at $50. I hated it at $75. And this is why, right here, look at the market cap Almost $20 billion. Look at the revenues Revenue here there’s a dot there because they don’t have know nothing right, but they’re starting to see very, very big deals from the hyposcales, which changes the landscape.

And I have to tell you, in our world, the biggest change from me being an analyst has been how we value companies. When people use PE ratios, which is old news Don’t use a PE ratio to value a company. If you did, you’d be out of the market for the last 10 years and the market’s up tremendously. You have to look at the growth. You have to look at the growth and if you look at Oakville, if they get this right, it could be a $100 billion company. And that helped me. And the reason why I learned that is from Netflix, where Netflix.

I miss Netflix. I’m like what the hell have I missed in Netflix? How come I miss Netflix so much? Because the traditional what I would do is I would compare it to cable companies and I was like this company is trading at. It was trading at a hundred times forward earnings at a hundred times. So was Apple, so was Microsoft at one time all these companies and look at the valuation, look at the returns tens of thousands of returns you wouldn’t have bought them. Then the biggest thing is the story, it’s the growth. Right, you have to focus on the growth.

And we nailed Palantir because we got Netflix wrong. And what I realized with Netflix is Netflix wasn’t competing against the cable companies. Every single cable company in the United States was competing against Netflix and trying to be Netflix, and that increased their total addressable market from here to freaking here, right, and that’s why they got that big. From here to freaking here, right, and that’s why they got that big. And we didn’t make that mistake with Palantir. We recommend a Palantir. Would we recommend a Palantir? Or you recommend 25-ish, 25-ish right.

1:34:58 – Daniel Creech

And everyone’s like at 50, he’s trading at 100 times sales.

1:35:01 – Frank Curzio

He’s trading all the way up, all the way up at $20, because I understood that this is a company that has the holy grail when it comes to AI and implementing it into a company. When you have the CEO of one of the biggest oil companies come on stage for free and say what this company did is absolutely incredible. This is a company that comes in on day one and can increase your productivity tremendously through their AI services, and not just defense. So when everyone was bitching about the sales and saying it’s trading at how many times sales, well, you look at this year chart. We bought at 20 to 183. Now, I’m not cherry picking here. We’ve had some losers. We stopped out of losers and stuff like that. But this is what makes your portfolio. This is stuff that makes you fucking rich right, and that’s what you want to get in. But looking at a P ratio of price to sales you would have and I’m like, listen, this thing’s going to $200. Because their total address on market is only a trillion dollars, which is the entire S&P 500, because they could help them increase their productivity, lower their cost tremendously. That’s what this company does and they’re growing like a weed and I think this is important, so I’m going to stay with this part.

Daniel is when you look at Tesla, why is Tesla trading at the valuation it trades at and Ford isn’t? And GM isn’t? Because Ford and GM are so late to the party with EVs. Now, evs is a dying trend. Tax credits are gone. You’re going to see the industry shrink, probably 40%. But why is Tesla not going higher? Because Tesla, it’s the future. It’s the story. We’re talking about optimists. We’re talking about having robots in all your, and their technology is far superior when it comes to EVs and everybody else, and that’s why everyone was so slow to adopt it. But when you’re looking at a company, it’s not just the P-E ratio, what Oklo, it’s where it’s going to be in the future. It’s crazy no revenue. But we didn’t make that mistake with Bloom Energy, which we recommended, which we’re up a lot on.

So stop looking at P-E ratios and price to sales. You have to look at the total addressable market. If this company captures and it’s number one, number two, number three in a total addressable market, that’s a trillion dollars then you’re looking at a company like Palantir, say, a trillion-dollar total addressable market. Now look at their market cap there. It’s incredible. Just sales. How many times sales? We’re talking about sales Right now. They’re doing $3 billion in sales. This is a company that could easily do $100 billion in sales. You’re doing $100 billion in sales. Put it 10 times multiple, 10 times sales, which is probably normal for most technology companies. A little bit higher than that. You could look at a trillion-dollar valuation next, trillion-dollar stock in Palantir.

Stop looking at the traditional stuff. I think when it comes to P-E ratios, I’ve learned that the hard way For me. I always ask the question. I always focus on my mistakes the most when I’m investing, like what did I get wrong? That’s what? Instead of getting pissed and beating yourself up, embrace it and learn from it, and that’s how you become better at anything right. And we figured out why we missed a lot of those stocks. No-transcript you have to factor in the growth if you’re going to use a PE and that’s why we’re in a lot of these names and we’ve done very well over the past few years.

1:38:05 – Daniel Creech

Yeah, and on Palantir, just quickly, we poke fun and have fun for educational purposes. We’ve never tried to convince anybody that it’s a value play, a fundamental play. We’ve always acknowledged from hell. $10 a share, hey, this is overvalued on paper. We’re not arguing that Simply. You put that aside. That’s one data point on the T chart. That one goes on the negative side, okay, but that’s one. When you look at a basket full. And our biggest thing and I want to put words in Frank’s mouth, but don’t let one thing scare you out of a great opportunity. You know everything has risks. Just put it in perspective. So that’s number one, Frank, you got. You got time for a couple more. Yeah, let’s go a couple more, all right. So, bruce, this is a good question. Bruce is a fan of ours. He says what’s the difference between your newsletter C-A-I and the Wall Street Unplugged Premium, $99 a year? Big price difference, Frank, very big price difference. He says that they are part of the AI.

1:38:58 – Frank Curzio

I know I didn’t say anything else about that.

1:38:59 – Daniel Creech

I know you paused there, Frank. Wait, ai PowerCry. They want more access, and then you ask about other products to stay informed. So this is a good one from Bruce. So what’s the biggest difference between this one and the random stuff we do every Thursday?

1:39:10 – Frank Curzio

This focuses strictly on AI ideas right, and it was the best decision that I’d done in a seven-year history of our company, encourager Research launching that AI newsletter you know just the returns and covering it and learning so much and being part of this trend for the last you know, three, four years, when most people are still learning about it and just starting to use large language models. I show a lot of people there’s hundreds of millions, if not billions. Now they’re using ChatGPT and stuff new versions. But you know, for me it’s learning all this stuff about AI. This is. It’s such a learning curve and I love to learn. That’s why I love my job is I’m learning. I covered all the industries. That’s why I was a great worker for Kramer. We had to cover single industry, right, and yeah, just that learning curve is incredible. So that’s AI with our AI news, ai specific.

Our Wall Street Unplugged premium is linked to a special podcast that we have that’s not on iTunes and we charge $10 a month for it and that’s a trading newsletter. Dan and I will give you a pick. Pretty much almost every week, if not on most weeks, we’re going to give you a pick and we cover the stock. We cover everything. It’s more detailed than Wall Street Unplugged. Wall Street Unplugged will be interviews. We’ll get into macro and stuff like that and other trends and give away some ideas. But we really dig into the research, the learning part, and showing you why we like these companies. What we’re seeing that nobody else is seeing. You’re not going to hear on any of our research. That we do, you know, and that’s what we do. When we focus on, when we have an opportunity where we think you can rake in all that money, especially for new subscribers, we’ll lower the cost of our newsletters and say we want to get you in now, because if we make a lot of money, what are you going to do? Well, I’m going to charge you a full price next year and you’re going to pay it because this is a skeptical industry. It really is. My dad’s probably rolling over in his grave with some of the promotions that you see in the financial newsletter industry, even on Wall Street. I mean, their job is to basically fuck every retail investor in the world. That’s what they do. That’s what they do with SPACs. Right, they have to sell it to someone. They have to sell it to retail investors and pretend like this is a great thing. They’re in at a dollar right. These things go to six. They make it a fortune Five, four. You bought them at 13, 14, all these stocks, 95% of SPACs are down, 90% plus right. That’s what Wall Street does.

So you know, for us, we really break this down on the podcast, tell you exactly what to look for, and there’s nobody above us, is me. This is it. If you like it, you like, you don’t, you don’t. I’m not gonna lie to you. We’re gonna probably provide you great ideas that you never heard of. But and it’s a no bullshit podcast, and you know we always say bringing you know, wall street to main street. That’s what we really do in our podcast. When we break stuff down, people can understand and explain it to them. Tell them what they need to focus on, tell, and you know that’s why I’ve been around for a long time. And you know, following keeps growing and growing and growing, which is really cool.

1:41:54 – Daniel Creech

Yeah, big difference between us and CNBC is language too. They don’t say any of the funny stuff.

1:42:01 – Frank Curzio

Yeah, and I don’t curse to curse, it just happens because I’m, you know, I’m from New York.

1:42:05 – Daniel Creech

It’s emotional, oh you don’t have to defend yourself.

1:42:07 – Frank Curzio

1:42:07 – Daniel Creech

Yeah, sometimes you guys got the best excuse. You’re New Yorkers. I had a priest. Everybody gives you an excuse.

1:42:10 – Frank Curzio

You know we had a priest, Huh A priest. He had two different priests. One priest emailed me.

1:42:17 – Daniel Creech

He’s like oh, you know, he told me to say like 10 Hail Marys or something.

1:42:20 – Frank Curzio

Yeah, because I listened to the podcast, I was like damn. Yeah, that was a long time ago that Frank at CurzioResearchcom.

1:42:30 – Daniel Creech

Yeah, hey. So, as you can imagine, we’re getting a lot of questions on UEC, so we can wrap this up and wrap several into this. Frank, you got everything on price targets on UEC. You mentioned if the government could take a stake. There’s great questions about hey, what if the Department of Energy or any government agency outside of the taking a stake in UEC, literally like we’ve seen the Trump administration do with others? What if they just designate or make a rule to say, hey, all uranium has to be US produced or it has to be? You know they can put other sanctions or limits.

1:43:02 – Frank Curzio

They’ve done that. They’ve had a lot of things, yeah.

1:43:03 – Daniel Creech

So if you want to kind of wrap, obviously, but that’s great for UEC. We want a lot of attention on that. It was a great interview, so if you want to attack UEC and everything involved.

1:43:12 – Frank Curzio

If you’re going to buy UEC, please listen to that interview. Listen to the whole thing. I pulled out a couple of sections from UEC out of the interview. This is where we focus more on the AI part. But he really digs into the company and it’s only like another 20 minutes longer and they’re going higher. He has a whole thesis behind it, based on supply and demand. He knows every freaking number because he’s been in the industry for 23 years. This is a company that only has a $5 billion valuation when you’re looking at something of $4 trillion that’s going to be spent in the next five years.

These guys are dying for energy. They need it right. So once nuclear comes online, you’re good. Same with I visited in Vancouver with a billionaire I won’t mention his name, but he has hydro plants and it’s the most amazing thing. It’s the most amazing thing when it powers, because the hardest part when it comes to alternative energy is the costs up front and it’s massive, like billions, tens of billions. But once you have it, the water’s flowing Right. So you know the wind’s going to blow, the sun’s going to be out, and if you could provide that in an economical way to make it work, it makes sense. Uh, what uranium? Once this thing is built, it’s good forever, right, and it’s one of the cleanest forms of power.

It’s just people will worry about fukushima and, oh my god, they. I mean maybe they should tell these idiots to stop building the biggest nuclear plants on the ring of fire. If you pull up a put chart, a map of the ring of Fire and that’s where the most earthquakes take place, right, and if you overlap that with the uranium plants, it’s like 80% of the uranium plants are built on the Ring of Fire. It’s like someone tapped on his shoulder and be like maybe you know, maybe 100 miles left of that would be better. So you know, it scared everybody. Fukushima turned out to not be a big deal, as everybody thought. You know, depending on who you read and whatever, but to not be a big deal as everybody thought, depending on who you read and whatever. But it wasn’t that big of a deal in terms of people dying in the streets and shit like that.

Now everything’s coming online because they realize look, natural gas, we have a ton of natural gas. It’s going to fuel a lot of it. We’re still fueling it with coal. It’s supposed to phase out, it’s not. But solar is really big right now and I feel like nobody’s talking about that story an AI energy other than Elon Musk. So solar is really good, but when it comes to uranium it’s huge and I think you know I don’t like price target. It’s hard. I just think that you have tremendous upside in UEC. You just have so many secular tailwinds those are long term. Like you know, these guys are spending a fortune. You have the government that’s going all in, that’s saying we need, you know, uranium in America. And in that interview I don’t know if it came out in the part that we cut Daniel, but when I went to visit his plant in Hobson, texas, he showed me a bunch of boxes. It was incredible. It was like a room, a big room filled with like 100 boxes, like cardboard boxes, writing on them right that he bought from one of the properties that he got and it shows you know he talks about.

In the 1970s we were massive in uranium. I mean it’s almost a byproduct of oil, so all the oil companies were kind of uranium companies and then people got worried about uranium and they just spun off these divisions. They said we’re not producing uranium, no more, and we let somebody else do it right, which is crazy because even I don’t know, from a climate change perspective, it’s going to get produced on a planet. It doesn’t matter if it gets produced in the US or China, like even with coal. If we’re lowering our demand for coal, look at demand for India and China when it comes to coal. It’s massive through the roof. It’s still going to hurt the environment. It’s not like, oh, since we don’t do it, the environment’s going to be fine, right. So when you’re looking at some of these technologies and just the stigma behind it, a lot of that’s gone. Nobody cares about that. People hated nuclear. They don’t hate it no more. You’re looking at the supply demand and balance is massive, just massive demand coming. You’re going to see prices go higher and the biggest companies in the world with the deepest pockets on the planet are all investing in this trend and they’re investing in uranium, which is where you want to be, and these guys aren’t slowing down. So for me, I think UEC goes a lot, a lot, a lot higher from here.

What Amir has done. You know what. I’m going to actually try to bring this up if I can, and this is live. So it might take a second, but I’m going to do this. Let me see If you can go to UEC presentation and I wanted to show you some of this. Okay, let’s see presentation that I’m bringing up here.

Okay, let me share this. I just want to show you what Hamir has done and why you should listen to the interview, because there’s a chart on here that he talks about. Everything here is great. They got a strong balance sheet. They just raised more money. They have Goldman Sachs covering them now. So look at and this chart is right here.

So, when you’re looking at this chart, if you guys could see it, this is the acquisitions he’s made since 2016.

All of them are creative.

It’s over a billion dollars in acquisitions, and look what Uranium Price is, what the green line is right All the way through here. Even Rough Rider, which is one of the biggest projects, that’s from Cameco, and you know the partnerships I have with Cameco, arriva, even with SMR companies this is a name that’s right in the middle of it and just building all these assets up and now you’re talking about you’re going to be able to build this into a producing company. It’s exactly the way you want to be. It’s a good model showing what I did long term. When everyone else was pitching me in mining industry. They pitched me biotech companies and Bitcoin companies and just going off their reservation, I was focusing on this shit, saying, no, we’re a random company. I know the industry sucks for 10 years, but we’re going to build this thing up because when it comes back and it has to come back because we need 24-7 baseload power this is a company set up to go higher. Throw AI on top of that and it’s like throwing kerosene all over it. That’s where UEC is.

1:48:23 – Daniel Creech

So I’m really happy for them because I know how hard he works and I think it’s a good it was sideways. Forever is volatile. Yeah, the chart looks great, Not rallying higher.

1:48:31 – Frank Curzio

Yeah, it’s through the roof. So are we done with the questions? Yeah, how are you doing?

1:48:35 – Daniel Creech

We’re done, I’m doing good yeah we’re closing in on two hours, two hours.

1:48:41 – Frank Curzio

We may have mentioned, we wouldn’t take 90 minutes 671. We have 671. That’s still on. It’s cool and honestly, I really appreciate it. Hopefully you guys found some value out of this. You can find us at CurzioResearch.com Again, a 70% discount to our newsletter as well, which is special, and you can do that just by going to CurzioAI.com, which that link is right there. Curzioaicom, it’s not a link, but we put the link in the chat if you’re interested. But if you have any other questions, listen to Wall Street Unplugged. It’s absolutely for free. If you have questions, you can email in Frank@curzioresearch.com. It’s Daniel@curzioresearch.com.

I try to answer questions. I can’t give you personal investment advice. I can do it when I’m talking to an audience. So don’t ask me, should I buy this stock or should I sell this stock, but just general information, especially the industries that you’re in. You could provide incredible information for us.

That’s what happens when we all share. You have this community now. That’s what we all want. We all have the same goal in common we all want to make freaking money. We all want to support our families. We all want to do better. We all want to retire early and spend even more time with our families and our spouses and stuff. That’s what this is about.

The more access, we’re seeing huge, huge returns across our newsletters, we’re going to have a couple losers, but we’ll stop out. We report back to you and say what we did wrong and everything. We’re always going to let you know what to do, even with the loser. That’s the biggest part of running a newsletter business publishing industry is. It’s okay if you get it wrong wrong but let me know what to do with it. A lot of people don’t do that in this industry because I know everyone in this industry being in here for 30 years. Just let me know what to do. Should I buy more? Should I sell? Should I get out of it? Just being there that provides that credibility is why we’ve been around for such a long time and doing this for 30 years and able to start my company eight years ago. If you’re interested in learning more about Wall Street 70% discount, We’ll be writing 70%. It doesn’t really get too much better than that. And that’s at CurzioAI.com and questions. Comments. Daniel, what is your email address?

1:50:39 – Daniel Creech

Daniel at.

1:50:40 – Frank Curzio

CurzioResearch.com, and for me it’s Frank@CurzioResearch.com. Thanks so much for joining us and we’ll see you Take care.

1:50:10 – Announcer

Wall Street Unplugged is produced by Curzio Research, one of the most respected financial media companies in the industry. The information presented on Wall Street Unplugged is the opinion of its host and guests. You should not base your investment decisions solely on this broadcast. Remember, it’s your money, and your responsibility.