A key test looms for the AI trade this week. Here's how Mike Khouw is trading it

The AI infrastructure buildout has been compared to the railroads in scale and scope. There are certainly similarities. Both involve enormous private capital investments relative to GDP in their era. Both have transformed how we live. In AI's case, the biggest transformation so far has been in how some of the technology companies creating it live. Consider Micron Technologies . Revenues have quintupled in the past two years and are expected to nearly double again next year. Adjusted net income is up 10,686% over the period. Next year's anticipated net income is $179.2 billion versus $791 million the company made in fiscal year ended August 29th, 2024. 22,600% increase in adjusted net income in three years.