Canadian cryptocurrency entrepreneur and Binance founder Changpeng Zhao (CZ) has told investors to focus on “A.I. shovels” when picking stocks.
CZ says he prefers the underlying infrastructure powering artificial intelligence (A.I.) rather than applications themselves.
He added that the current boom in A.I. is an “infrastructure-first” investment cycle, and that’s where the opportunities lie when it comes to stock picking.
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Speaking during a Binance online livestream, CZ said he is focused on the “shovels of A.I.,” including data centers, power supply systems, and large-scale computing infrastructure.
He urged investors to focus on stocks that are involved in A.I. model training and inference workloads, which is widely seen as the next phase of the artificial intelligence buildout.
CZ’s comments reflect a growing view that the A.I. economy is not just about algorithms and software, but about energy, hardware, and compute power.
Despite some interest in A.I.-related infrastructure, CZ emphasized that his investment firm “YZi Labs” remains primarily focused on the cryptocurrency and blockchain sectors.
The Canadian-educated entrepreneur said his investments remain 80% allocated to cryptocurrencies and blockchain technologies.
He also said that his investing strategy remains centered on digital asset infrastructure, decentralized networks, and blockchain-based financial systems.
CZ’s positioning reflects a broader theme across technology investing, where A.I., energy, semiconductors, and blockchain infrastructure are viewed as interconnected.
Binance, a cryptocurrency exchange, is privately held and its stock doesn’t trade on a public exchange.
CZ was raised in Vancouver, British Columbia and attended McGill University in Montreal, Quebec.
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