Lo Toney, founding managing partner at Plexo Capital, told CNBC’s Squawk Box that artificial intelligence is now splitting the Magnificent Seven into separate camps rather than lifting them as a single trade. According to him, three groups are emerging: hyperscalers like Google, Microsoft, and Amazon that control infrastructure but must prove spending converts to profit; Meta and Apple using AI to strengthen existing advertising and hardware businesses; and Tesla turning AI into physical products with its own regulatory questions. Nvidia sits apart, profiting while customers validate their economics. Toney identified Alphabet as his top pick, citing a 42% gain over the past year and a Wall Street consensus implying roughly 25% additional upside.
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