#46 - Adam Patti, CEO and Co-Founder of VistaShares on AI Infrastructure, Electrification, and Building ETFs for the Next Supercycle

In this episode of The Bull of Wall Street, Jim Worden sits down with Adam Patti, CEO and Co-Founder of VistaShares, to explore how ETFs are evolving in the age of AI, electrification, and innovation supercycles. From creating one of the first hedge-fund-replication ETFs to building a new generation of active, rules-based products, Adam shares insights into how investors can capture the infrastructure powering artificial intelligence, and why transmission, cooling, and power distribution may be among the biggest opportunities in years.

The discussion also covers the concentration risk in major indices, the next phase of AI-driven capital spending, and how innovation in ETF design is meeting the demands of a fast-changing investment landscape.

What you’ll learn:

• Why 30% of an AI data center’s cost is cooling—and who’s profiting
• The “bill of materials” approach to ETF construction and why it matters
• Why AI infrastructure—not applications—will drive returns near term
• How electrification, energy transmission, and power are the next frontier
• The importance of real diversification as mega-cap concentration grows
• Lessons from launching IndexIQ and building successful ETF families

Chapters

02:00 – From Fortune Indexes to founding IndexIQ

03:46 – The early ETF era and selling to New York Life

05:33 – Launching VettaFi and meeting Tesla’s former president

06:50 – Building smarter AI ETFs with industry experts

08:37 – Mapping AI’s supply chain: the “bill of materials” approach1

0:11 – AI infrastructure vs. applications: where the profits are

11:19 – Power problem: generation vs. transmission opportunity

15:23 – Early innings of the AI supercycle

17:19 – Quantum computing, AI synergy, and what’s next

18:22 – Overlapping supercycles: AI, robotics, biotech, and space

23:14 – Inside VettaFi’s ETF families: growth, options income, tactical alpha

25:33 – Options income strategies and building stability26:17 – High-beta exposure and the “WILD” ETF

30:49 – Diversification, multifactor strategies, and position sizing

31:40 – Growing investor interest in options income

32:28 – Innovation pipeline: what’s next for ETFs

Guest: Adam Patti, CEO and Co-Founder of VettaFi

Hosts: Jim Worden, CFA, CMT, CAIA

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