In this morning’s Ausbiz episode, I discussed how generative artificial intelligence (AI) might ultimately benefit consumers more than shareholders. We explored the distinct roles within the AI landscape: “upstream” companies like Nvidia (NASDAQ:NVDA) and Intel (NASDAQ:INTC) provide essential infrastructure, while “downstream” firms like Apple (NASDAQ:AAPL), Google (NASDAQ:GOOG), and Microsoft (NASDAQ:MSFT) apply the technology but face slowing profit growth. Amazon (NASDAQ:AMZN), interestingly, occupies a “midstream” position, balancing both infrastructure and application. 

We also touched on unique AI applications, including personal companion chatbots. Given current valuations, I emphasised a phased, cautious investment approach, as long-term revenue potential remains uncertain. 

You can watch the full interview here: Ausbiz – AI’s winners and losers