$LLY has joined the trillion-dollar club and the market still hasn't figured out how to price Eli Lilly correctly (Save this). They are pulling in roughly $65 billion in annual revenue with about $22 billion in earnings. The old mental model treats Lilly as a straightforward weight loss drug driving revenue. But they're actually taking the revenue from their thriving drug business and investing it into various AI plays: - Built LillyPod, its own AI data center with 1,000+ NVIDIA GPUs - Launched TuneLab, an AI platform for drug discovery - Partnered with Google's Isomorphic Labs (Google's AI research division) - Committed $75B to acquisitions and partnerships since 2023 A stock already at a trillion dollars in market cap on $65 billion in revenue is not a cheap stock on a simple multiple basis. But we believe that the market is still treating Lilly like a one-dimensional pharma company. Bullish on Eli Lilly as a multi-layered growth story.