Artificial intelligence stocks have swung sharply this summer, which brings an older question back into focus. How much of the boom behind them is actually getting built, and what stands between an announced data center and a working one?

That answer is not contained in the stock prices, or even in the strong earnings now coming through. What decides it sits outside the market, in conditions that have to be cleared before anything gets powered on. The indexes can obscure that picture too, since the strength they show sits in a narrow slice of the market.

Louis Navellier has built his career picking individual stocks and grading them against hard numbers. He joins us to explain what he sees behind the buildout, and why his test for what he will own has kept him out of some of the most talked-about names of this cycle.

Views expressed in this video are the opinions of the host and the guest and do not necessarily reflect the views of The Epoch Times.