Open AI vs. Nvidia: Who really has the AI moat?

The AI trade is entering a new chapter, and it won’t look like the last one… In this episode of Stocks in Translation, Spear Invest founder and CIO Ivana Delevska joins host Jared Blikre and Yahoo Finance Senior Reporter Brooke DiPalma to discuss the AI trade heading into 2026. Delevska explains why early AI leaders are no longer moving in lockstep, how advantages differ between model builders like OpenAI and infrastructure giants like Nvidia (NVDA), and why returns are showing up faster in hardware, networking, and power than in AI models themselves. Twice a week, Stocks In Translation cuts through the market mayhem, noisy numbers and hyperbole to give you the information you need to make the right trade for your portfolio. You can find more episodes here. Thoughts? Questions? Fan mail? Email us at [e-mail] Finance's Stocks in Translation is hosted by Jared Blikre and produced by Lauren Pokedoff. Learn more about your ad choices. Visit megaphone.fm/adchoices