Hyperscalers burning billions in cash is extremely bullish for semiconductor stocks over the next 12 months. I sat down with @JackFarley96 to go through his new model portfolio and high-conviction trade ideas, the short trades he likes right now, the risks in AI pricing power, and what comes next for hyperscalers. Jack has very nuanced views that combine a near-term bull case and long-term risk for a potential crash. This is a fun conversation full of actionable ideas. TIMESTAMPS: 0:00 - Bull market's 5th year? 3:30 - Hyperscaler capex 5:04 - Free cash flow concerns 6:47 - AI pricing power 9:43 - Semiconductor pricing power 11:59 - Favorite sectors 14:02 - $LRCX 18:13 - Could China crash memory? 20:37 - Short ideas 22:09 - Silver bull case 26:11 - Macro risks 27:55 - Jack's model portfolio 28:54 - Texas Pacific Land 30:28 - Sulfur stock idea 32:24 - $EWY 34:57 - Shorting ethereum:0x294559fa758c88d639fd085751e463fee7806eab 35:52 - Follow Jack