Canadian billionaire Kevin O'Leary is betting big on AI, but he is not spending millions on technology stocks, for next 36 months his key focus is …

September 27, 2026 - 05:05

Canadian businessman Kevin O'Leary says he is making a major bet on artificial intelligence, but he is not putting his money into the technology companies that dominate headlines. During a recent appearance on The Deep End podcast, O'Leary explained that he is taking an indirect approach to AI investments. "I'm a picks and shovels guy," he said, describing a strategy that focuses on the tools and infrastructure behind the boom rather than the software itself.

O'Leary said his key focus for the next 36 months will be on the physical assets that power AI systems, such as data centers, power generation, and the energy grid. These areas, he argued, will see steady demand regardless of which AI companies ultimately succeed. He compared the approach to selling shovels during a gold rush, where the suppliers profit no matter who strikes gold.

The investor also noted that building and running AI models requires enormous amounts of electricity and computing hardware, creating opportunities in sectors that many technology investors overlook. He added that he plans to avoid piling millions into popular AI stocks, preferring instead to back the backbone that keeps those systems running.