Sylvia Jablonski on Memory, Photonics "Fuel" Powering AI, ETFs Tied to Trade

In an interview on Schwab Network, Sylvia Jablonski, CEO and CIO of Defiance ETFs, breaks down the current state of the artificial intelligence trade following robust performance and forecasts from NVIDIA (NVDA). Jablonski emphasizes that NVIDIA's results affirm the AI trade remains structurally healthy, supported by strong year-over-year growth exceeding 100% and ongoing heavy capital expenditure by hyperscalers. Beyond primary chip designers like NVIDIA and AMD, Jablonski highlights expanding investment opportunities in foundational 'picks and shovels' components. She notes that high-bandwidth memory serves as the vital fuel for AI engines, while photonics and optical lasers act as data highways replacing traditional copper connections for higher speed and efficiency. Additionally, Jablonski points to essential power management hardware, specifically multi-layer ceramic capacitors (MLCCs), as indispensable for stabilizing power density, regulating voltage, and reducing noise in AI server infrastructure. Market participants are increasingly looking at thematic ETFs covering photonics, memory, and capacitors to capture diversified exposure across the critical bottlenecks powering the AI ecosystem.