The
AI Meltdown
Is Coming
By April 29th -
The AI Bubble Will
Pop
and Trigger an
80% Market Crash.
By April 29th -
The AI Bubble Will
Pop
and Trigger an
80% Market Crash.
It’s the question that’s keeping investors up at night…
Is the AI boom a massive bubble that’s ready to pop?
According to Jim Rickards, the man who predicted the last two market crashes…
The answer is yes…
And he believes the results will be catastrophic for millions of Americans who don’t prepare.
He’s predicting by April 29th we’re going to see a replay of the dotcom bust…
When the stock market crashed almost 80%...
Ruining the retirement of millions of Americans.
Hi, I’m Aaron Gentzler and I’ll be your host for this Urgent Market Warning.
Today, I’m sitting down with Jim Rickards…
The famous economist and best-selling author who predicted the biggest stock market crashes of the last two decades…
He predicted the 2008 meltdown…
Just three weeks before Lehman Brothers imploded and the stock market collapsed…
And he predicted the Covid meltdown…
Again just three weeks before the stock market suffered the fastest drop in history.
And now he’s predicting that the most important AI company in the world is about to go bust…
…sending a ripple effect through the market that could crater the entire AI industry
And he’s warning everyone to prepare for an AI meltdown of historic proportions.
Pay close attention because Jim Rickards is a lawyer and economist…
Who’s worked at the highest levels of Wall Street and international finance across five decades.
He helped architect the Petrodollar Accord under the Nixon administration—securing the dollar’s place as the world’s reserve currency.
He worked directly with the Federal Reserve to stop a $1.3 trillion banking collapse in the 1990s.
And he advised senior leaders at the Pentagon and the CIA on preventing the next 9/11 by analyzing insider trading in the stock market.
He’s a rare insider…
Who’s trusted on Wall Street…
And respected in the deepest corridors of power in Washington.
If his name sounds familiar to you…
Maybe you’ve seen him on TV…
Where he’s often invited to share his views on the economy and the markets…
Or maybe you’ve read one of his best-selling books…
Like Currency Wars…Death of Money… and The New Case for Gold
Today, for the first time ever…
He’s going public with the five steps you need to take…
To protect you and your family…
From a historic AI meltdown that could devastate the retirement of millions of Americans
Jim, thanks for being here.
Jim Rickards
My pleasure.
Aaron Gentzler
Let’s get right into it because everyone is talking about a potential AI bubble…
And we recently saw a huge drop in some of these AI stocks…
Oracle has crashed more than 40% in just about three months…
AMD dropped 25% in a couple of months…
And Supermicro Computer dropped 40% during the same period
Popular AI stocks like Nvidia and Palantir have also suffered a correction.
Some folks are worried that this could be the beginning of something much worse.
And, from what I understand…
You’re now predicting …
That one of these major AI companies is in big financial trouble…
And that it could trigger a meltdown that could be more than 10x times bigger than Lehman Brothers.
That’s pretty scary stuff.
What AI company are you talking about?
Nvidia?
Jim
No, not Nvidia.
The company I’m talking about is even more important than Nvidia…
Because my research shows that it's the first domino that will topple all the other dominoes.
I promise I’ll explain everything today because…
I believe this is the prick that will pop the AI bubble…
And trigger a meltdown similar to the dot com crash.
And that’s not something that’s years away.
The collapse has already started behind the scenes.
Aaron
So you believe this crisis is imminent?
Jim
Absolutely.
Google just launched a technology that virtually guarantees this AI company will fail.
As I’ll show you here today…
Insiders at this company are already panicking.
The CEO has just issued a “code red” alert for his entire company.
The Chief Financial Officer has even implied they might need a government bailout.
And this isn’t just another AI company.
Just like Lehman Brothers had connections to all banks on Wall Street…
This company has financial connections to all the big players in the AI space.
In 2025 alone…
It inked $1.4 trillion worth of deals with other major AI companies.
I believe that’s a $1.4 trillion ticking time bomb…
That will destroy the foundations of the entire AI economy…
And ruin the retirement of millions of unprepared Americans.
Aaron
So are you saying that this failure wouldn’t be isolated?
It would be systemic.
Jim
Exactly.
This company is the canary in the bubble coal mine.
It’s so important that it has been called “ a pillar of the global economy.”
I believe that pillar is about to collapse.
Once this company goes under…
I believe it will set off a series of cascading failures…
Bringing the entire industry down.
Aaron, we could see an 80% crash that could wipe out millions of Americans.
And it’s not just me saying it…
Former IMF economist Gita Gopinath believes this coming meltdown could be as bad as the dotcom bust…
And it could wipe out $20 trillion from US households.
That’s why I’m going public with this warning.
I don’t want everyday folks to be left holding the bag…
Like often happens in these types of meltdowns.
Aaron
I think we’ve all heard about a potential AI bubble…
But this is the first time I hear about a major AI company facing risk of a collapse.
So if you’re right about that…
It will definitely catch most people by surprise.
Jim
Yes, unfortunately most people are in the dark…
But some of the best investors on the planet…
Are already preparing for this coming AI meltdown.
For example, tech billionaire Peter Thiel recently sold his entire stake in Nvidia, worth about $100 million.
The giant investment firm SoftBank also sold all of its Nvidia holdings for $5.8 billion.
Ray Dalio’s hedge fund has also been dumping shares of some of the biggest AI players.
He recently cut his Nvidia position by 65%, Google by 52% and Meta by 48%.
And over the past few months Warren Buffett sold $177 billion worth of stocks…
And he’s now holding a record position in cash.
Aaron
Wow… looks like they’re all running for the exit…
That’s a huge red flag.
Jim
And it’s not the only one.
Aaron, have you heard of Michael Burry?
Aaron
Yes. He’s the famous hedge fund manager who predicted the 2008 meltdown.
Jim
He also made $100 million during that crash.
And now he’s putting his own money on the line betting that this AI company I’ll expose today will collapse.
He said:
“This bubble looks an awful lot like the dot-com bubble.” [This company] is doomed and hemorrhaging cash."
Aaron
Wow, so he agrees with you.
Jim
He does.
He recently even opened a multi-million-dollar trade betting that both Nvidia and Palantir will crash.
And what’s even more alarming is that insiders are also jumping ship.
Nvidia insiders sold about $1 billion worth of shares recently.
Insiders at Coreweave, an AI data center company, did the same.
They cashed out about $1 billion worth of shares.
Meta insiders sold about $50 million worth of shares.
Aaron
That’s really concerning because nobody knows more about these companies than the people who are actually running them.
So Jim, you think they’re cashing out because they agree with you that there’s an AI bubble?
Jim
Well, this isn’t just my opinion.
Some of these insiders have publicly confirmed that AI is a bubble ready to pop.
The CEO of Google Sundar Pichai said some of the investments in AI are showing “elements of irrationality.”
And he warned that the fallout from the coming implosion would be unprecedented and impact every single AI company.
Microsoft founder Bill Gates has called it a “frenzy…”
And even compared what’s happening with the dotcom bust.
Amazon founder Jeff Bezos called this boom “an industrial bubble.”
Meta CEO Mark Zuckerberg said something similar on a recent podcast.
And OpenAI CEO Sam Altman said that we’re currently in an AI bubble where “investors as a whole are overexcited about AI…”
And he predicted, and I quote…
Aaron
Wow.
If the best investors on the planet are cashing out…
And if the CEOs of the companies are warning us that we’re in a bubble…
Maybe we should listen to them.
I know in just a moment you’re going to reveal the name of this company you believe is in big trouble.
But Jim, what should we do?
Should we panic and sell everything?
Jim
No, panicking is never a good strategy.
If you know what to do, you could not only protect your wealth…
But also make a lot of money during this coming meltdown.
In fact, for the past few months…
I’ve been recommending a few bubble-proof stocks to my readers…
Because I believe these kinds of stocks will be protected from a crash.
Just look at some of the recent top performing stocks…
While Meta dropped about 15% during a recent 4-month period, this bubble-proof stock jumped 320% higher…
While Oracle shareholders lost 40% of their money in a three-month period…
This other bubble-proof stock jumped 60% higher.
In the last six months of 2025, Supermicro computer, another popular AI stock, was cut in half…
Meanwhile, one of these bubble-proof stocks doubled during the same time.
Aaron
Wow, some of those gains are mind-blowing…
Especially considering all the recent weakness we’ve seen in some of these tech stocks.
Jim
I believe this is just a small taste of what’s coming.
Look, if you’re buying these overpriced AI stocks…
I believe you’ll be left holding the bag.
And you could lose everything.
But if you buy these bubble-proof stocks…
I believe you’ll have a chance to walk away from this meltdown with a small fortune.
I’m so confident in this sector that I already invested $1 million of my own money.
And today, I’m going to discuss my top three bubble-proof stocks…
Including a company that I believe could 10x your money in the coming months and years as this AI meltdown plays out.
Aaron
That’s great news.
I can’t wait to hear the details…
And from what I understand, that’s just one of the steps you’re recommending today.
You’re going to recommend a total of five steps, right?
Jim
That’s right.
For example, I’ll also discuss…
In 2025 alone they poured more than $32 billion into a safe-haven that I believe should be in everyone’s portfolio.
I’ll reveal the name of that investment here today, completely free of charge…
Because I believe it could jump 500% higher during this coming meltdown.
Aaron
Sounds like we’re in for a very important briefing.
And Jim, I’m glad you’re here to discuss all these opportunities…
Because I don’t know anyone else who has your kind of inside connections and a track record of correctly predicting crashes.
Folks, Jim Rickards is not just some kind of “doom and gloom” conspiracy theorist.
Like I mentioned before…
He helped end the Iranian crisis for the Reagan administration.
He helped the Nixon administration craft the Petrodollar Accord…
Which established the US dollar as the world reserve currency.
In the late 1990s, he worked side by side with members of the Federal Reserve…
To save America from a $1.3 trillion banking crisis involving the hedge fund Long-Term Capital Management.
After 9/11, he helped senior military leaders at the Pentagon and the highest ranks of the CIA…
Develop a computer system to predict the next 9/11 by analyzing unusual trading activity in airline stocks.
He’s given advice to members of President Trump’s cabinet…
He’s been inside the West Wing of the White House…
The U.S. Treasury and the boardroom at our central bank, the Federal Reserve.
But what’s most impressive to me is his track record of predicting major market crashes.
For example, in January 2020, when most people were not worried about a pandemic…
And he warned them that soon the pandemic could trigger panic in the markets.
Sure enough…
Three weeks later, everyone began to panic…
And the stock market plunged 30% in what was the fastest crash in history.
Like I mentioned earlier, Jim also predicted the housing meltdown.
In the summer of 2008…
He wrote a letter to top advisors in the presidential campaign and he predicted:
Sure enough, three weeks later, Lehman Brothers went bankrupt…
Panic took over…
Markets crashed across the world, ruining the retirement of millions.
Jim, when you wrote that letter with that prediction, very few people believed you right?
Jim
That’s right.
Most people thought I was sounding the alarm for nothing.
Once Congress realized I was right…
They invited me to testify in the Senate about the state of the economy.
By the time I spoke on the Senate floor, it was too late for most Americans.
An estimated $2 trillion was wiped out from Americans’ 401(k)s and IRAs during that crisis.
8.7 million people lost their jobs, and nearly 10 million lost their homes in the US alone.
Aaron
Yeah, I remember it was a complete bloodbath.
And here we are today…
You’re now predicting a major AI company will go bust…
In a crisis that could be 10 times bigger than Lehman Brothers.
In fact, you’ve been warning your readers for a few months now.
This past October you sent a note to your readers warning them about an AI doom loop.
You wrote:
Since then, we’ve seen a big correction in some of these popular AI stocks…
Like I mentioned earlier…
Oracle dropped more than 40% in three months…
AMD dropped 25% in a couple of months…
And Supermicro Computer dropped 40% during the same period
I know you’re about to reveal the name of this company you believe could trigger this massive crisis …
And the five steps everyone needs to take today…
But first I gotta ask you this…
Has the meltdown begun?
Jim
I believe it has.
We might see some short-term rallies…
But I predict these will all be dead cat bounces.
During the dotcom bust, there were eight short-term rallies of at least 18%...
But they were all temporary.
Anyone who bought those corrections caught a falling knife…
And they ended up losing a big chunk of their savings…
As tech stocks kept crashing for months and months.
As I’ll explain here today, there’s an event scheduled for April 29th that I believe will accelerate the meltdown…
Because that’s when the entire market could realize this company is in big financial trouble.
Aaron
But Jim, isn’t AI a revolutionary technology?
I mean, some of these language models like ChatGPT are amazing.
And we’re already seeing self-driving cars on the streets…
Humanoid robots are in development right now…
And many experts believe that’s just the beginning of the AI revolution.
Jim
Yes, AI is a revolutionary technology.
No doubt about it.
But whenever we see a revolutionary tech that could change everything…
People get carried away…
And they forget that valuation matters.
Nobody can resist the dream of getting rich from a revolutionary technology that “everyone knows” will change the world.
They became irrational, almost blinded by greed…
Which is exactly what creates a bubble in the first place.
We saw that with the radio in the 1920s.
It was a game-changing technology.
And because of that, people thought valuations no longer mattered…
And that radio stocks could only go up.
That turned into one of the biggest bubbles in history.
At the center of that bubble was the Radio Corporation of America.
The New Yorker recently even called it “the Nvidia of its day.”
Shares rose from $5 to $500 in the 1920s…
But collapsed by 98% between 1929 and 1932 when the bubble popped…
Aaron
Wow. Yeah, I guess that makes sense.
When a technology is really revolutionary, it tends to capture the imagination of investors.
I mean, we saw the same thing with the internet in the 1990s, didn’t we?
Jim
We did.
Just like AI today…
Back then the promise of the internet to investors was nearly infinite.
I remember some analysts saying that valuation metrics were outdated…
That they didn’t apply to internet stocks because it was such a paradigm shift.
As a result, we saw a massive bubble.
Look at Cisco, for example.
As the main supplier of routers and infrastructure…
Cisco was the backbone of the internet infrastructure build-out in 2000.
Aaron
Just like Nvidia today is the backbone of the AI boom.
Jim
Exactly.
Cisco was the “Nvidia of the internet.”
Everyone who wanted to use the internet relied on Cisco.
So investors threw caution to the wind…
And bought shares thinking it would be a guaranteed home run…
No matter how expensive the stock got.
In the 1990s, it jumped 45,000% higher... And Cisco became the most valuable company in the world.
Aaron
Shares went straight up in the late 1990s… but we all know that party didn’t last too long.
Jim
The funny thing is that, in one way, investors were right about Cisco.
It was a big winner.
Over the next two decades, the company’s revenues grew fourfold… and profits went up 500%.
But investors were simply paying too much for the shares.
They forgot that valuation matters…
So once the bubble popped, investors got wiped out with a 90% crash.
Take a look…
As you can see, it took 25 years for the stock to recover.
Think about that Aaron?
Aaron
25 years? Wow, that’s devastating.
That’s the kind of loss that will ruin your retirement.
So you believe Nvidia could end up like Cisco?
Jim
Well, just take a look at this chart, and tell me if you see any similarities…
Aaron
My goodness… they look identical.
Jim
I think we all know how this story ends…
These kinds of parabolic moves are never sustainable.
And Aaron, here’s the thing most people don’t understand…
Once the crash begins, it all happens very fast…
And most people don’t have time to react.
After peaking in 2000…
The Nasdaq dropped 34% in just one month.
In that single month, hundreds of tech stocks lost 80% or more of their value.
Aaron
That’s terrifying.
So if you’re right about this AI meltdown…
By next month, anyone who’s holding the wrong AI stock could watch 80% of their money evaporate.
Jim
And it gets worse because once this major AI company goes bust…
And the meltdown accelerates…
Aaron
You mean, it will spread through the economy?
Jim
Absolutely.
Remember, I’m talking about a meltdown involving a major AI player with deep financial links to virtually all AI companies.
This is a ticking time bomb that will destroy the foundations of the entire AI economy.
But it goes well beyond AI stocks.
This will be like dropping an atomic bomb in the middle of the economy…
And the blast radius will reach all industries…
From banks to construction to energy… you name it.
That’s why the research firm Bernstein Research recently sent a note to its investors saying this AI firm I’m talking about:
“Has the power to crash the global economy for a decade.”
Aaron
But how exactly would this AI meltdown affect the rest of the economy?
Jim
Well, our economic growth now relies completely on this AI boom.
Harvard economist Jason Furman estimated that…
US growth in the first half of 2025 was almost entirely due to investment in AI data centers.
What happens when those investments stop?
Aaron
Wow… so our entire economy could implode?
We could see a big recession?
Jim
Yes.
Big tech has been investing billions in AI infrastructure…
And all that spending has been propping up the economy.
Once this company goes under…
Which I believe is imminent…
I predict all that spending will stop…
And the economy will fall off a cliff.
For example, big tech companies are investing billions in building new data centers.
That’s a lot of construction jobs that will disappear during this coming meltdown.
These data centers also require a ton of energy.
That’s why utility companies are committing billions of dollars to building new power transmission lines…
Natural gas pipelines…
And power plants to power the AI boom.
All those jobs related to the energy infrastructure buildout will also go away during the coming meltdown.
Aaron
Ok, I’m starting to understand how this AI boom is connected to the entire economy…
And how this meltdown could have real-world implications.
That’s all really scary.
How much time do we have to prepare?
Jim
Not much.
Let me put it this way…
This is the Titanic.
We just hit the iceberg.
Most people are still laughing, drinking, and dancing…
Completely unaware the ship is sinking.
By the time they realize what’s happening…
It will be too late.
The five steps I’ll discuss here today are the lifeboat.
And I recommend everyone act now because…
The cracks are already starting to appear.
Aaron, as I’ll show you here today…
The CEO of this AI company just sent an internal memo to his employees…
Warning them they’re dealing with a critical situation.
The last time I saw something like this was in 2008…
Three weeks before Lehman went under.
So we could have just weeks or even just a few days to prepare.
Aaron
Well, the good news is we can take steps today to protect and even grow our wealth.
I know in just a moment you’re going to discuss those five steps you’re recommending…
Including those bubble-proof stocks that are already outperforming some of the hottest AI stocks out there.
But before you get to that, let’s talk about this company at the center of this coming AI meltdown
You said earlier that it was not Nvidia.
And that this company might be even more important than Nvidia.
Jim
Before I reveal the name of that company…
First I want everyone to understand what’s happening behind the scenes…
Because this AI bubble is far worse than anyone imagined.
You see, ever since the launch of ChatGPT…
Big tech companies have been locked in a race to develop ever more powerful AI models.
They’ve been pouring billions into AI data centers and computing power just to keep up with their competitors…
And nobody knows if their investments will pay off.
Aaron
So you’re saying these companies are investing heavily in AI…
But they don’t even know if or when they’re going to see a return on that investment…
They’re doing it just because they are afraid of being left behind?
Jim
Yes. There’s a winner-take-all dynamic playing out.
So each of those big tech companies feel like they have no choice but to heavily invest in infrastructure or they’ll risk being left behind
And the result is that these companies are overinvesting…
Just like it happened in the late 1990s.
Back then, companies thought the internet was such a game-changer…
That there was no limit to how much they should invest in infrastructure.
So they ended up overinvesting in the fiber-optic cable infrastructure.
It took many years for that investment to pay off.
I believe something similar is happening here.
McKinsey estimates that spending on AI infrastructure will reach nearly $7 trillion by 2030.
It could be many years before these companies see a return on those investments.
Aaron
So the AI question isn’t whether the technology works …
It’s whether the returns can ever justify this massive build-out.
And you’re saying that the returns will not be able to justify all this spending.
Jim
Correct.
The CEO of IBM recently looked at the numbers.
And he believes companies would need about $800 billion in profit…
Just to service interest on that scale of investment.
He concluded, and I quote:
This is not coming from some no-name analyst who just graduated from college.
It’s coming from the CEO of one of the biggest tech companies in the world.
This AI buildout is so expensive that not even the largest companies have enough cash to pay for it all.
So they’re now financing that build out with debt.
These financing deals increased almost tenfold in 2025.
That’s why Bloomberg wrote…
Some of these tech companies are even using “creative finance” to hide their risks from investors.
Aaron
What kind of creative finance?
What do you mean?
Jim
I’ll give you an example…
Meta recently needed to raise about $30 billion to build a new data center in Louisiana.
But instead of issuing a bond or getting a loan…
It set up a separate legal entity, known as a special-purpose vehicle…
Just to hide that debt from investors.
So that debt doesn’t show in their balance sheet.
Aaron
Wait, hold on…
Weren't these special purpose vehicles the same kinds of entities banks were using in the run-up to the 2008 meltdown?
Jim
That’s exactly right.
These were the same shady accounting practices used by Enron and Lehman Brothers.
In fact, during the housing bubble…
Several major financial institutions used those entities to keep billions of dollars in debt off of their balance sheets.
So when the 2008 housing meltdown started…
Investors had no idea how much risk banks were truly carrying…
And that’s what created panic.
That’s why Mark Zandi, the chief economist at Moody’s Analytics said:
Aaron
I had no idea this was happening with these AI companies.
Jim
Most people don’t know about it.
They’re only going to find out when things start to blow up.
Because of all this off-balance sheet debt…
Once this massive AI company goes under…
I predict a lot of those loans will go bad.
And the fallout could spread quickly throughout the financial system and trigger a major recession…
Just like it happened when Lehman went under.
The only difference here is that this meltdown could be 10 times bigger than Lehman.
Aaron
How could this be 10 times worse?
Jim
This company is almost 10 times bigger than Lehman.
Plus, all these AI companies are also using something called “circular financing.”
And that’s creating even more systemic risk.
Aaron
I actually heard about that. I read a Wall Street Journal recently that said these circular deals might be a sign of a bubble.
But for folks who haven’t heard about it, can you explain what’s going on?
Jim
Sure.
Let’s say I’m Nvidia and you’re OpenAI, the company that runs ChatGPT.
You need my AI chips to operate.
Let’s say you need $100 to buy my chips, but you don’t have the money.
As Nvidia, I need to keep this AI boom going.
So here’s what I’m going to do Aaron.
I’m going to invest $100 in your company OpenAI…
So now, just like that, you have the money.
And you can use that $100 to buy my AI chips.
I’ll give you chips and you give me that $1o0 back.
Now I pocket that $100 and record it as revenue.
Aaron
Wow… so it’s like you taking $100 from one pocket and putting in the other pocket.
Is this even legal?
Jim
It’s legal.
Cisco did the same thing during the dotcom boom.
It provided credit to telecoms so they could buy more Cisco routers.
At first, those sales looked great…
Until the capital dried up and the entire market collapsed.
Nortel Networks and Lucent Technologies were two other networking-equipment companies that followed similar schemes.
Aaron, have you heard of those companies?
Aaron
No.
Jim
And that’s my point.
Nobody has heard of them because they didn’t survive the dotcom bust.
Aaron
And that’s actually going on right now with AI companies?
Jim
It is. And on a massive scale.
And that’s what’s creating systemic risk.
These companies are now all financially linked…
And there’s one AI company at the center of it.
If this company goes down, everyone goes down.
Take a look at this graphic representation of these circular deals…
Now, I know this can be hard to understand…
But all you need to know is that this messy entanglement of AI-related deals creates a systemic risk.
And as you can see Aaron, there’s one company at the center of it…
Aaron
OpenAI… The company behind ChatGPT?
Jim
OpenAI.
It’s set to receive billions from tech companies…
But also sends billions back to the same companies to pay for computing power and other services.
In 2025 alone it has inked $1.4 trillion in those types of deals.
This is one failure point that every major AI player depends on…
Whether they admit it or not.
As I’m about to show you…
And because of these financial ties…
It will bring the entire industry down with it.
And I’m not the only one who sees this coming.
Yale professor Jeffrey Sonnenfeld says…
Aaron
Alright, let’s take a step back here…
Because that’s a massive prediction.
Some folks might even find it unbelievable.
OpenAI is the creator of ChatGPT…
It’s the company that kicked off this entire AI boom…
And now you’re saying it’s going to trigger a meltdown ... And that it will take down the entire AI industry?
Jim, how can that happen with the AI pioneer?
Jim
I know that might be hard to believe…
But Aaron, the reality is that often tech pioneers don’t survive innovations from competitors.
For example, MySpace was a social media pioneer.
In 2007, it was valued at $12 Billion...
And it was the largest social network on Earth.
But Facebook came up with a better platform and algorithm…
Essentially destroying MySpace.
Four years later, MySpace was irrelevant and sold for $35 Million.
That’s a 99.7% drop in valuation…
Aaron
That’s brutal.
Shareholders lost everything.
Jim
They were wiped out.
Something similar happened with AltaVista, the company that pioneered internet search.
It was the leader in online search in 1999.
But Google came up with a much better search algorithm…
And went on to dominate the market…
Driving Altavista out of business.
Or look at Netscape, the first internet browser.
Microsoft not only created a better browser with the internet explorer…
But also bundled it for free with Windows.
Netscape simply couldn’t compete.
Aaron
Yeah, I get that sometimes a tech pioneer can be left behind by competitors that develop a better product.
But isn’t ChatGPT still the leader in AI models?
Jim
It is.
But I believe that’s about to change in a very big way.
Google just released a new AI model.
And I believe historians will look back and call it “the ChatGPT killer.”
Simply put, Google just did to OpenAI what Microsoft did to Netscape.
It has just released the latest version of its AI model called Gemini.
And it’s more powerful than ChatGPT.
The CEO of Salesforce, which is a $250 billion tech company, even posted something on social media that went viral.
He said…
Aaron
So you believe ChatGPT will become the Netscape of the AI world.
Jim
Yes, and I’m not the only one.
Michael Burry, the famous hedge fund manager who predicted the 2008 crash and is now betting on an AI bust, said and I quote…
Aaron
Yeah, I think you shared that quote with us earlier.
So OpenAI is not only struggling to compete with Google…
But it’s also losing money?
Jim
Aaron, OpenAI is a cash burning machine.
Training and running ChatGPT is very expensive.
Research from Deutsche Bank estimates the company is losing about $28 billion a year.
One analyst even said the chances of OpenAI surviving is very low.
He said…
Research from HSBC is projecting the company will continue to lose billions until 2029.
And that’s assuming it will be able to grow its customer base from 800 million to $3 billion users.
Aaron
So for OpenAI to eventually become profitable…
It needs to see massive growth.
Jim
Exactly. It needs to almost triple the number of customers.
Obviously, it cannot afford to lose users to other competitors.
But that’s exactly what’s happening with Google’s new model.
Millions are dumping ChatGPT and are now using Gemini instead.
In just the first week after that release…
OpenAI lost about 12 million users.
I believe this is just the beginning…
This is exactly what happened when millions started to flock from MySpace to Facebook…
Or from Netscape to Internet explorer.
Aaron
Yeah, if that trend continues…
It really sounds like OpenAI is doomed.
Jim
Google’s AI model is not only better…
But it could soon be completely free, just like Google has made its search engine free.
A former OpenAI insider said recently:
Aaron
Yeah, I can see how that would be a death blow to OpenAI.
Jim
My point is…
It will be virtually impossible for a money-losing business like OpenAI to compete with a cash-rich business like Google.
Google controls everything from custom chips used to train its AI model to the cloud infrastructure.
And it already has billions of people worldwide using its platforms like Google Search, YouTube, Gmail and Android.
On top of that, Google just made a multi-billion deal with Apple.
So now, Google’s Gemini models will power the next generation of Apple's products.
Initially, Apple was thinking about making a deal with OpenAI…
But I believe they saw the writing on the wall… and decided to go with Google instead.
This was another blow to OpenAI.
Because of all that, I believe Google will be able to roll out Gemini much faster…
And at a much lower cost than OpenAI can.
Aaron
Jim, the more you explain…
The more it sounds like OpenAI is in big trouble.
Jim
That’s why insiders at OpenAI are in panic mode.
The CEO of OpenAI recently publicly admitted that Google is a huge threat…
He sent an internal memo to his employees declaring Code Red for the firm…
Saying it’s a critical moment.
And the company’s chief financial officer also implied during an interview that the government might need to bail them out.
Aaron
So they understand this is a matter of survival.
Jim
They do, but like I said…
It’s impossible to compete with Google.
This is like a mom and pop shop trying to compete with Walmart.
Aaron
OK, I understand OpenAI is losing billions and can’t compete with Google. But when will the implosion happen?
Jim
Well, OpenAI is a private company. So it doesn’t have to report its finances to the public.
That’s why a lot of people still don’t know what’s happening.
But OpenAI does have big financial ties to major public companies, like Microsoft, Nvidia, and Coreweave.
And those companies do have to report any major losses to investors.
Aaron
What you’re saying is that these public companies must report if they see a big loss related to their investment in OpenAI?
Jim
Correct. So when one of these companies release their latest financial results, that’s when the public will learn OpenAI is in big trouble.
And that’s happening on April 29th.
So there’s not much time to prepare.
Just like Netscape was doomed when Microsoft launched the internet explorer.
And because of all those financial ties…
Once OpenAI fails…
I believe it will bring down the entire AI ecosystem.
And since most of our economic growth is tied to this AI boom…
I believe OpenAI will take down the entire economy.
Research from S&P Global Market Intelligence estimates that a single point of failure like OpenAI…
And the research firm Bernstein Research recently sent a note to its investors saying:
And remember Aaron, because of all the debt and shady financing deals…
I believe this will also spread through our financial system.
We’re about to see a meltdown of historic proportions…
And most people are not prepared for it.
Aaron
Yeah, after everything you shared with us today…
It’s clear that a meltdown could be imminent.
And that’s pretty scary stuff because folks who are planning for retirement cannot afford to take a big hit.
Like you showed earlier…
Some of these companies like Cisco spent decades trying to recover from the dotcom bust.
Folks who are planning to retire can’t afford to wait that long.
Jim
That’s right…
That’s why I believe anyone who doesn’t prepare now will be putting their entire retirement at risk.
If you get caught in this meltdown…
You could spend decades just trying to dig yourself out of the hole.
Aaron
Ok, so let’s get into the solutions.
I know you’re here to recommend five steps we should take.
So let’s cover those now because like you said earlier…
We don’t have much time to prepare.
What’s the first step you’re recommending?
Jim
Like I mentioned earlier…
There’s a group of stocks that I believe will be immune to this AI meltdown…
It was one of the hottest sectors of 2025…
And during this recent weakness in tech stocks…
These companies have continued to perform very well.
Of course, I’m talking about precious metals stocks.
Aaron
Yeah, that makes sense.
Gold and silver have been on fire…
And Jim, you actually saw this boom before anyone else.
Folks, at the end of 2024…
Jim sent an alert to his readers predicting, and I quote…
And in recent years he recommended at least ten different miners.
He was spot on.
Gold and silver had one of the best years ever in 2025…
With both hitting all-time highs.
Last year, Gold jumped as high as 70%…
And silver skyrocketed as much as 149%...
They both beat the stock market…
Which is something virtually nobody on Wall Street predicted.
Many gold and silver stocks are going even higher…
Take a look at these top performing market examples.
Shares of gold miner International Tower Hill Mines jumped as much as 341%…
Integra Resources jumped 400%…
Avino gold and silver mines jumped almost 668% higher…
All in less than a year.
Jim, these are some incredible returns.
So you believe this boom will continue… even during the coming AI meltdown?
Jim
Absolutely.
Once the meltdown begins…
I predict we’ll see more capital flowing out of crashing stocks into safe-havens like gold…
And that will help push many of these stocks even higher.
Just look at what has happened more recently…
A lot of these AI stocks have already begun to drop…
And yet, precious metals stocks are still booming.
For example, while Meta dropped about 15% during a recent 4-month period…
Hycroft mining jumped 320% higher…
While Oracle shareholders lost 40% of their money in a recent three-month period…
Aris Mining jumped 60% higher.
In the last six months of 2025, Supermicro computer, another popular AI stock, was cut in half…
Meanwhile, First Majestic doubled during the same time.
Aaron
That’s incredible. Folks, please just keep in mind that all investing comes with risk and nothing is guaranteed. That’s why you should never invest more than you can afford to lose.
But Jim, I can see now why you call them “bubble-proof stocks.”
Jim
Aaron, I predict those who are buying overpriced AI stocks will lose their shirts in the coming meltdown.
But those who buy the right gold and silver stocks will not only protect their wealth from the meltdown…
But grow it faster than any other asset in the market.
That’s why I just put a brand-new report together called Three Bubble-Proof Stocks Set to Skyrocket in 2026.
And I’m making this report available to everyone here today.
Inside, you’ll find the names, ticker symbols and my full analysis of my top three bubble-proof stocks.
Aaron
That’s great news.
I can’t wait to dig into that report myself.
But before we show folks how to claim it…
Can you just give us some more details about at least one of those companies that you’re recommending?
Jim
Sure.
One of the companies inside that report is my favorite gold royalty stock.
You see, traditional mining companies are the ones that actually dig the gold out of the ground.
There’s a lot of operational risks and costs involved in that.
These royalty companies don’t deal with any of that risk.
They have a much better business model…
Because they don’t dig or operate the mine.
Instead, they make a deal with a miner:
"We’ll give you money upfront — and in return, we get a small cut of the gold you produce."
Because these companies don’t have to deal with operational costs…
When the price of gold goes up…
They capture all the upside, as their profits explode higher.
For example, in the last gold bull market in 2008…
While gold jumped 135% in about 4 years…
Many of these royalty stocks did much better…
Franco Nevada jumped 450%...
Sandstorm Gold 601%...
And Wheaton Precious Metals jumped 1,094% during the same period.
Aaron
Wow…So while gold investors doubled their money…
With this last example alone…
Investors had a chance to make 10 times their money.
Jim
Exactly.
And the good news is…
This gold royalty stock I’m recommending has that same kind of 10x potential.
It’s a little-known company that already has gold and silver royalty deals…
With more than 200 different mines and exploration projects.
As you can see here…
It beat gold in 2025…
And I believe it will continue to do so.
My research shows that…
If gold hits $10,000 an ounce…
Which I believe will happen in the next 12-18 months…
I believe you could make five times your money with this stock.
If gold hits my ultimate target of $27,000…
Then I believe you could make 10 times your money or more in the coming years.
Aaron
Amazing.
Folks you’ll find the name, ticker symbol and Jim’s full analysis inside that report called Three Bubble-Proof Stocks Set to Skyrocket in 2026…
Along with two other recommendations.
In just a moment, I’ll show you how to claim this report…
But Jim, before we get to that…
Can we cover the other steps you’re recommending?
Jim
Sure.
It’s a little-known investment that’s guaranteed to go up when AI stocks crash.
Aaron
Guaranteed to go up?
How is that possible?
Jim
Because it’s designed to go up when tech stocks go down.
Remember Aaron, we could see an 80% crash…
Just like what happened during the dotcom bust.
And I’m not the only one warning about this potential collapse.
Hedge Fund manager Mark Spitznagel, who made a 4,144% gain during the covid crash, warns:
And my friend and author of Rich Dad, Poor Dad Robert Kiyosaki predicts:
So this investment I’m recommending is designed to go up under that kind of bloodbath.
Now, in no way am I saying this is a risk-free investment…
But take a look at what happened last time we saw a big correction in tech stocks in 2022.
While shares of Nvidia dropped about 50%...
This little-known investment that you can buy right from your brokerage account…
Went up as high as 40% during the same 11-month period.
That’s why I believe this investment is a great way to hedge your portfolio against a crash.
And it’s why I just put another special report together called…
The AI Meltdown Insurance: How to Profit from the Coming Crash.
Inside this report, I will also show you how to boost your profits from this “insurance.”
In fact, with this secret…
You could potentially double, triple your money or more during the crash.
Just look at what happened with a company called CMGI during the dotcom crash.
Even though it suffered a 95% collapse…
With this secret, anyone could have walked away with a 526% gain by December of that next year.
Aaron
Wow… so instead of losing money, we could have made 6 times your money from a crash! That’s incredible.
Jim
Looking back, there were virtually hundreds of opportunities like when the dotcom bubble popped.
For example, shares of Double Click crashed 91% by December that very next year.
But with this secret, anyone could have tripled their money during that period.
Providian Corp. suffered a 92% collapse. But with this secret…
Anyone could have turned each $1,000 into $6,047 by the following December.
Those are the kinds of opportunities I’m expecting in this coming AI meltdown.
So I put all the details inside this report The AI Meltdown Insurance: How to Profit from the Coming Crash.
Aaron
That’s great.
Folks, this report is also available to you right now.
It has all the details on this little-known crash-proof investment…
Including the name and ticker symbol.
It also reveals this secret that could boost your profits even more… for gains as high as 600% during the crash.
In just a moment, we’ll show you how to claim this report…
But first, we’re going to cover step #3.
Tell us Jim, what else are you recommending?
Jim
Remember, if you’re holding on to overpriced and overleveraged AI stocks…
You could get wiped out.
Back in 2008…
Nobody thought that shares of popular companies like…
Lehman Brothers, Chrysler or Washington Mutual could go to zero.
But that’s exactly what happened.
Shareholders got wiped out.
Aaron
So other than OpenAI…
You believe we could see other companies get into financial trouble?
Jim
Absolutely.
Shares of companies that don’t have a ton of cash…
Are deeply in debt…
And are too exposed to the AI boom could suffer massive crashes.
That’s why I asked my team to find the most popular companies out there that could crash 30-50%... or even go to zero.
Three very popular companies with recognizable household names popped up in our research.
They’re trading at ridiculous valuations.
One of them is even more expensive than Cisco was at the peak in 2000, before it collapsed 90%.
These are three ticking bombs that are probably sitting inside millions of 401k and IRAs accounts.
We put all the details inside another special report called…
Three AI Losers to Sell and One “Warren Buffett” Stock to Buy.
Aaron
Folks, you heard Jim.
If you have any one of these losers in your portfolio…
You should get rid of them before it’s too late.
Jim, how about this stock you’re recommending in this report…
You said it’s Warren Buffett’s #1 stock for this meltdown?
Jim
Yes.
Like I mentioned earlier…
Warren has been dumping stocks recently…
And he’s sitting on a record amount of cash because he knows the meltdown is coming.
But he has poured more than $18 billion into one stock…
That I believe will do really well under the meltdown scenario.
Once investors start to panic…
I believe they’ll look for stable companies with low debt and reliable cash flow.
And this Warren Buffett company I’m recommending has increased its dividends for the past 36 years.
Aaron, think about all that crisis we’ve seen in the last three decades…
The dotcom bust…
The great recession of 2008…
The European debt crisis…
The pandemic…
No matter what happened…
This company’s shareholders got paid.
It doesn't get more stable than that.
Aaron
Folks, you’ll find all the details inside this report…
Three AI Losers to Sell and One “Warren Buffett” Stock to Buy.
It’s ready to go as well.
We’ll show you how to claim it in just a moment.
Jim, what else you got for us?
Jim
The 4th step I’m recommending is to buy the world government’s #1 safe-haven asset.
Take a look at this Aaron…
Governments around the world are pouring billions of dollars into gold.
In recent years, they’ve consistently bought over 1,000 tonnes.
That’s a modern record according to the World Gold Council.
I believe this trend is not going to stop.
That’s why I recommend everyone to have at least 10% of their portfolio in gold.
Aaron
Jim, I know you’ve been recommending gold for a while.
You saw this boom coming from a mile away.
In April of 2016, you published your best-selling book called…
“The New Case for Gold.”
Gold was trading around $1,200 at that time.
And in that book, you predicted, and I quote…
“Gold will ultimately be making its way to the $10,000 per ounce range.”
I remember at that time some people called that prediction a joke…
And said that was just a wild speculation.
Others called you nuts.
Now that gold is making headlines every day, nobody is laughing anymore.
Gold has jumped as high as 268% since you made that prediction...
Beating the stock market
And now more and more people are saying they agree with you.
For example, Jamie Dimon, the CEO of JP Morgan Chase said recently…
Jim
That’s right, Aaron.
A lot of people thought I was crazy…
But now more and more people are realizing they should have some gold.
Aaron
Yeah, you were 100% right.
It has been great for your readers.
But Jim, now that gold has gone parabolic in 2025…
Isn’t it too late to get in?
Jim
No.
It’s not too late.
I believe we’ve just seen the first leg of this new gold boom.
After the AI meltdown triggers panic in the markets…
I believe the central bank will begin to print money…
Just like they did after Lehman collapsed.
That will send gold even higher.
I also believe in the coming years…
Institutional investors will more than double their exposure to gold…
Sending the yellow metal on its way to $25,000 per ounce and higher.
That’s why I personally own $1 million worth of gold and gold related investments.
And it’s why I continue to recommend at least a 10% allocation in physical gold.
And for folks who don’t know how to get started…
I also put together another report called The Perfect Physical Gold Portfolio...
It will tell you exactly what you need to do to buy and store precious metals.
I’ll even give you a link where you can easily buy physical gold and silver with just a few clicks.
Aaron
That sounds amazing because I know a lot of folks already know they should have some gold…
But they don’t know how to get started.
Folks, we’ll show you how to claim this report in just a moment…
But first, we still have one more step to cover.
And Jim, from what I understand…
This might be the most important of them all, right?
Jim
That’s right.
Because the fifth step is to…
Folks, like I showed you here today…
This AI meltdown will not be contained to the tech sector alone.
It will spread through other sectors and take the entire economy down.
Investments in AI data centers will freeze…
Unemployment will skyrocket…
The stock market could crash 80%...
And many companies could go under, just like we saw during the dotcom bust.
Now, I could just give you all these special reports…
And wish you good luck.
And I’m sure you would do very well.
But I predict the coming months will be very chaotic…
That’s why I’d like to stay in touch…
And guide you every step of the way during this coming AI meltdown.
So Aaron, today I'm inviting everyone to join Strategic Intelligence.
It’s the best way to stay on top of this developing crisis.
Aaron
Folks, that’s Jim’s flagship research service where he publishes his best ideas every month.
And when you take a risk-free trial today…
We’ll send you all the special reports we’ve mentioned so far… 100% Free.
That means, just a minute from now…
You’ll be able to access…
You’ll get all these reports, 100% free of charge.
And more importantly…
You’ll stay in touch with Jim so he can guide you through this coming meltdown.
And the way Strategic Intelligence works is quite simple.
Every month you’ll get a new issue packed with ideas and strategies that will help you protect and grow your wealth.
Before Jim launched this service…
He had only provided this kind of research to his high-net-worth clients…
And members of the US intelligence community.
But with Strategic Intelligence…
You too will have the opportunity to hear his best ideas on an ongoing basis.
You should also know that…
He doesn’t receive money from advertisers.
And he doesn’t take commissions on anything he recommends.
He’s only beholden to his readers.
That means his business model only works if he shows you how to make money.
And here’s the best part…
Today, you can take a look at his research…
And receive everything we’ve mentioned so far…
At no risk to yourself.
Simply take a 90-day risk-free trial subscription to Strategic Intelligence…
And we will immediately send you all the special reports we’ve mentioned so far.
Jim, are you sure you want to give folks 90 days to go over everything?
That means they don’t even need to make a decision right now.
They can try your research first and decide later.
Jim
That’s exactly right.
I’m doing that for two reasons…
First, I’m confident once they see the quality of our research…
They’ll stick with us for a very long time, like most of my subscribers do.
Second, we don’t have much time to prepare.
The cracks are already starting to appear.
I believe this AI meltdown is imminent…
So I’m trying to help as many people as I can prepare for what’s coming.
Because once OpenAI goes under…
Which could happen at any moment now…
The meltdown will happen very quickly…
And those who don't act today will be left holding the bag.
That’s why I’m inviting everyone to take the next 90 days to review all my research at no risk to you.
Aaron
Folks, you heard Jim.
Let’s not waste any more time.
Membership to Jim’s newsletter normally has a published price of $299 for six months.
But today, you won’t pay anywhere near that.
Like Jim just mentioned…
This AI meltdown is imminent.
This is an urgent situation.
So he doesn't want the price to be an issue.
That’s why he negotiated a special deal with his publisher.
Today you can take a risk-free trial for one single payment of $49.
And you’ll get access to his research for the next six months.
And remember…
When you sign up for Rickards’ Strategic Intelligence…
If during that trial period you find that you’re not getting life-changing information…
Or for any reason at all…
You can simply call or email Jim’s customer service team…
And cancel your subscription.
You’ll get a full refund, no questions asked.
And you’ll get to keep everything you received as a subscriber - at no charge.
That means you can keep all the issues…
You can keep all the reports.
You can keep everything.
To get started, simply click on the button below.
JOIN NOWIt will take you to a secure sign-up sheet…
Where you can review everything one last time before you join.
Then, in just a few moments you’ll discover…
If Jim is right about gold going to $25,000…
That means you could make more than 5 times your money in the coming years.
And of course, every single month Jim Rickards will send you a new issue…
With even more ways to protect and grow your wealth.
Please just keep in mind that all investing comes with risk and nothing is guaranteed.
That’s why you should Never invest more than you can afford to lose.
Click on the button on your screen to get started with your risk-free trial…
JOIN NOWAnd you’ll gain immediate access to everything you see on your screen…
Take the next 90 days to try Jim’s research.
Read a few issues of Strategic Intelligence…
Read all these special reports…
And get the names and ticker symbol of all these investments Jim is recommending.
If during your trial period you’re not 100% happy…
Just ask for your money back.
We’ll give you all of it back, no questions asked.
And we’ll let you keep all that research.
Like I said, there’s no risk to you.
Click the button on your screen to get started…
JOIN NOWAnd you’ll join thousands of Americans who are already happy to follow Jim’s research…
People like…
Randy C., who was able to recover his $49 subscription many times over. He wrote in to say:
“It has already paid for itself 10X in 3 months!”
Randy C.
Stephanie S. said:
“Jim knows more about what is really going on and can predict the future better than anyone else I have heard.”
Stephanie S.
Paul M. called Strategic Intelligence…
“The most trustworthy source of investment strategies I've encountered in my lifetime.”
Paul M.
Jim, it must be very gratifying to you…
To hear these stories on how your ideas are already changing people’s lives.
Jim
It really is.
I’m glad my work is already helping everyday folks…
But I’m afraid most people are not prepared for what’s coming.
They’ll get blindsided by this coming meltdown…
And once they realize what’s happening…
It will be too late.
My hope is that everyone who watched us today will take action now because the stakes couldn’t be any higher.
If I’m right about this AI meltdown, and I believe I am…
And they could spend the next 5, 10, 15 and even 20 years just trying to recover.
Look Aaron, I’m in my 70s…
I don’t have that kind of time…
I can’t delay my retirement because of a crash.
Aaron
Yeah, I’m sure a lot of folks who are watching us are also planning for retirement…
And they don’t have decades to wait for stocks to recover from this coming meltdown.
Jim
That’s why the stakes here are so high.
Those who get caught in this meltdown could suffer devastating losses that could ruin their retirement.
Like I showed everyone today…
OpenAI is doomed.
It can’t compete with Google.
It’s already bleeding cash.
And because of its $1.4 trillion ties to other AI companies…
Once it blows up…
It will bring the entire AI ecosystem down.
That’s why tech insiders are cashing out.
That’s why some of the best investors on the planet are dumping shares of Nvidia and moving to cash.
Even CEOs of these companies have warned AI is a bubble that’s ready to pop.
The CEO of OpenAI already issued an internal code red to his employees…
Because he knows they’re in deep trouble.
Another company executive even implied they might need a government bailout.
The stage is set for a meltdown of historic proportions.
For you watching from home…
I want to remind you once again that…
You don’t have to be a victim of this meltdown.
You don’t have to lose everything.
You just need to act today.
I’m confident all the research I put together for you will help you protect and grow your wealth during this difficult time.
And I’m sure you’ll do the right thing for you and your family.
So I look forward to welcoming you to Strategic Intelligence in the next few minutes.
Aaron
Jim, thanks for being here.
Folks, this is it for today…
Click on the button to get started…
JOIN NOWAnd you gain access to everything you see on your screen.
You can take the next 90 days to go over everything and decide later, at no risk to you.
Thanks for watching, and we look forward to seeing you on the inside……
February 2026
