This ETF lets you benefit from the largest investment effort in all recorded history

Today’s issue in preview:

• This ETF lets you benefit from the largest investment effort in all recorded history

• How the Epic-Fury missile restocking boom can make you a lot of money

• You don’t follow it, but a critically important stock index just hit an all-time high

• The battery tech/battery metals uptrend surges to new highs

This ETF lets you benefit from the largest investment effort in all recorded history

Credit: EvgeniyShkolenko

In late 2022 – before ChatGPT was released to the public – I told friends and colleagues that AI was about to explode into public awareness. Shortly after, AI did just that, marking the beginning of one of the biggest investment themes of our lives… one that has produced dozens of 100%+ stock winners.

Now, more than three years into this super boom, big tech companies Meta (META), Google (GOOG), Amazon (AMZN), OpenAI, and Microsoft (MSFT) are engaged in an epic race to build the world’s best AI models and infrastructure. They’ve already spent more than a trillion dollars. This year, they are on pace to spend over $600 billion on AI infrastructure, with more than $3 trillion expected to follow. It’s the largest infrastructure spending boom in history.

During this boom, many AI skeptics have cautioned against investing in it. They’ve said big tech’s spending is madness. It won’t generate the revenues and profits required to justify it. Once the world realizes this is the case, GDP growth will stall, and the stock market will crash.

For the past three years, I’ve urged investors to ignore the AI bears and stay long the AI infrastructure megatrend. This advice has been very useful. On April 9, I highlighted how AI infrastructure stocks of many kinds have soared to all-time highs. Optical networking stocks. Computer memory stocks. AI data center cooling stocks. Semiconductor stocks. These companies are on the receiving end of the largest investment effort in all recorded history.

If you’d rather not expend time and effort to follow the individual stocks and AI infrastructure subthemes we regularly cover, put the Invesco Equal Weight Technology ETF (RSPT) on your radar.

This fund owns a diversified basket of the companies and themes I covered on April 9. It’s very heavy in AI infrastructure hardware, not software. Plus, no giant tech company makes up an oversized portion of the fund.

More important than any one person’s forecast or bias, the market approves of this fund. After suffering an Epic-Fury induced correction in March, RSPT has recovered and reached an all-time high this week.

If you want a one-click way to get on the right side of the largest investment program in history, RSPT gets the job done.

How the Epic-Fury missile restocking boom can make you a lot of money

Credit: vadimrysev

Our March 20 recommendation to invest in scandium is off to a heck of a start.

Since that issue, Sunrise Energy Metals (SREMF) – the scandium mine developer we highlighted – is up an incredible 64% in less than a month and recently reached a new one-year high. This big move is more confirmation that the critical resource industry is an area of the market rich with opportunity.

In June 2025, I wrote a research piece on how the U.S. government has become a powerful partner for investors in the critical resource industry. It’s a development with huge financial implications that can make investors a lot of money.

My megatrend thesis goes like this: President Donald Trump has staked his legacy and reputation on massively expanding U.S. manufacturing capacity. The Trump administration is working with business leaders to invest trillions to pursue this goal.

However, any plan to increase domestic manufacturing capacity has a big problem: we lack the critical resources to build the required infrastructure and the future manufacturing inputs.

We don’t have the copper, iron ore, rare earths, lithium, antimony, nickel, and other vital building blocks required to build all those data centers… all those factories… all those robots… all those electric grids… all those power plants… and so on.

To make matters worse, we also lack the refining, smelting, and processing facilities needed to turn the raw forms of those resources into ready-to-use end products. We rely on China for a lot of that.

It’s like we very much want to build a big house… but we don’t have the lumber, the screws, or the nails we need to make it happen. It’s a major hindrance to Trump achieving one of his ultimate goals.

Meanwhile, innovations in defense tech, battery tech, and AI are driving enormous demand growth in many critical resource markets.

All this makes many critical resource industry areas rich with opportunity.

In our March 20 issue, we highlighted how scandium is one of the most important metals most people don’t know about. It’s a critical component in building military hardware like missiles. When combined with other metals like aluminum, it creates a very lightweight, but high-strength structure. This is why securing critical minerals like scandium has become a national security imperative. Without scandium, the U.S. doesn’t have the most advanced missiles and drones. As the U.S. rebuilds missile stockpiles depleted by Operation Epic Fury, scandium demand will rise.

Scandium also has an “AI demand kicker” that should act as a long-term tailwind. This month, Bloom Energy (BE) announced it wants to double manufacturing capacity by the end of 2026. This matters a lot to scandium producers because Bloom is considered one of the world’s largest single consumers of the metal.

Bloom produces solid oxide fuel cells that help power AI data centers. Its fuel cells use scandia-stabilized zirconia as a core electrolyte material. It’s what allows the cells to operate efficiently at the required operating temperatures. In other words, scandium is in the chemistry of what Bloom’s technology does.

Bloom Energy does not have any publicly announced supply agreement with Sunrise. But on its Q1 2025 earnings call, CEO K.R. Sridhar said the company does not source scandium from China. It sources it from multiple undisclosed sources. This is a purely speculative comment, but Sunrise owns the world’s largest and highest-grade primary scandium deposit.

It appears to be the most logical long-term answer that Bloom partners with Sunrise in some form, just like defense giant Lockheed Martin (LMT) has done. Lockheed Martin has a five-year option agreement in place to purchase up to 25% of Sunrise’s scandium.

The Western world has one serious primary scandium project. The world’s largest defense contractor has already signed a deal with its owner. And there’s an “AI demand kicker” that should work in scandium’s favor. It’s yet another example of how the critical resource megatrend we’ve been bullish on is creating wealth and winners.

You don’t follow it, but a critically important stock index just hit an all-time high

Credit: leekris

In yesterday’s issue, I cited the extraordinary strength of America’s largest shopping mall operators as evidence the economy is doing a lot better than the mainstream media would have you believe.

The soaring stock prices of mall operators Simon Property Group (SPG) and Macerich (MAC) are a sign of robust American consumer spending… and a signal that the stock market is siding with the Optimists’ view on Epic Fury’s effects on the global economy.

With this in mind, let’s look at another critical industry that serves as a “real-world indicator” of American economic health: The transportation industry.

The Dow Jones Transportation Average is the world’s most popular index of transportation stocks. It tracks the stock price movements of companies involved in trucking, shipping, air travel, railroads, and transportation logistics. Major weightings include UPS (UPS), FedEx (FDX), Delta Air Lines (DAL), Union Pacific (UNP), Norfolk Southern (NSC), Old Dominion Freight Line (ODFL) and J.B. Hunt (JBHT).

Virtually every piece of clothing, every piece of furniture, every morsel of food, every appliance, every device, every building material, every tool, and every household good purchased in America is shipped multiple times on the way to its end user.

This means it’s fair to say the Dow Jones Transportation Average and its constituents are “highly economically sensitive.” The components of this index – often called “the transports” – do well when America is making things, buying things, and transporting things. They serve as the economy’s circulatory system.

The chart below shows the transport index’s price action over the past two years.

As you can see, the index is in a long-term uptrend. It recently recovered from its Epic Fury-induced March correction and registered a new all-time high.

This is the market telling us the U.S. economy is doing a lot better than mainstream headlines would have you believe. Position yourself accordingly!

Market Notes

• Our recommendation to tune out the AI Bears and stay long AI infrastructure continues to pay off. Semiconductor industry leaders Advanced Micro Devices (AMD) and Intel (INTC) reached new one-year highs today.

• Our recommendation to tune out the AI Bears and stay long AI infrastructure continues to pay off for optical networking investors. Optical networking leader Coherent (COHR) reached a new all-time high today. The stock is up 494% over the past year.

• Our advice to be long the resource-focused Canadian market continues to pay off. Large Canadian banks Toronto Dominion (TD), Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CM) reached new one-year highs this week.

• The battery tech and lithium bull market we profiled on April 14 continues to run. Lithium miner Sigma Lithium (SGML) popped 11% today to reach a new one-year high.

• Giant American warehouse and transportation logistics firm Prologis (PLD) reached a new one-year high today.

• The brutal bear market in packaged food producers continues. Chicken giant Pilgrim’s Pride (PPC) reached a new one-year low today. Put this industry on your “bottom fishing, rebound trade” radar.

• The photonics-related “AI bottleneck” firm we highlighted in January – AXT Inc. (AXTI) climbed 22% today to reach a new all-time high. The stock is up 250% since our note.

Regards,

Brian Hunt
Editor, Money & Megatrends

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