they are close, despite expecting significant growth for nvidia, and then thinking about who owns nvidiawhen you compare it to microsoft, it's 91%. there are all these features in the market right now pointing to the fact that there could be -- we know ai is growing but is the fundamentals under the hood that are helpful here. tom: becoming most valuable stock in terms of market cap. we seem to be locked in in terms of the spin on ai. it seems like it suggesting it will continue in 2026. what is a story with micron? >> this has been wall street's favorite chipmaker, the best performer in that philadelphia semiconductor index. yesterday the share basically went for a ride. i think it will be a familiar story for any high achieving honor student, when you come home with a really great report, you beat expectations on multiple fronts, you show the promise of growth, but it is just not good enough. that is basically what was happening with investors yesterday. but the growth prospects, especially for this high bandwidth memory that is so important for ai, they just didn't think it was good e

so we think nvidia maintains 80% of a market. that still leaves 20% of a market that can more than double or triple over time, right? so we think that provides plenty of opportunity to others. every name is different. you know, amd is a combination of data center. it's a combination of what they're doing in gaming, combination of what they're doing across with the intel in terms of gaining more share in those markets and embedded markets. you know, marvell has a slightly different profile, so every company has a slightly different profile. but i do think it's a rising tide. and, you know, the evidence for that is if you look at a number of these prominent cloud companies over the last 5 to 10 years, every one of them found a way to participate in the growth of adoption of cloud services, whether it was an e-commerce, whether it was in streaming, whether it was in social, they all found their own niches in that market. so it didn't really come at the detriment. i think it really came at the expansion of that pie. and that's, i thi

nvidia broad ca -- nvidia and broadcom would be two top names with the biggest visibility. the negative headwinds with the semiconductor investigation or something on the trade side of things, ultimately we think this works itself out and the earnings potential is so great that two to three years down the road these slots should be significantly higher than where they are now. caroline: we get the earnings from broadcom on thursday after the bell. samsung is teaming up with perplexity ai to beef up artificial intelligence offerings. this is "bloomberg technology." ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. our advanced matching helps find talented candidates, so you can connect with them fast. visit indeed.com/hire caroline: samsung, it's nearing a wide-ranging deal to invest in perplexity ai and put search technology from the start up at the very forefront of its devices. that is according to people familiar. the companies are in talks to preload the perplexity app on upcoming samsung devices. we knew t

we're going to talk about nvidia's push to record highs with the ceo of nvidia partner and ai quantumaq plus compass ceo robert reffkin here to weigh in on the housing market and how new york's mayoral race and the rise of zoran mamdani could impact real estate in the city. >> first, though, let's get some fresh housing data just crossing. diana olick has that for us. diana. >> well, david, pending home sales in may rose 1.8% from april and were 1.1% higher than may of last year. that, according to the realtors, this is a small beat the street was actually looking for basically flat. now this count is based on signed contracts, so people out shopping in may when mortgage rates were climbing and briefly went over 7% on the 30 year fix. regionally, sales were strongest month to month in the northeast and west, but compared with last year, sales were down everywhere except in the south and midwest. midwest is the cheapest, of course, south is where they have the most for sale. so okay, why the tiny gain? with rising rates in overall sales, it's likely due to all more supply. there are 31

amazon, apple, meta, microsoft, nvidia and tesla. over and over again, as the market roared higher, we were told that the rally was so narrow that it could not be sustainable. you couldn't have a handful of companies that were worth trillions of dollars, then hundreds of stocks in the tens of billions, but nowhere near the valuation of these tech titans made no sense. they told us it was only a matter of time before these false idols would be smashed, and your gains would go up in smoke. i get that for you. i've heard it all my life. there was a time i even believed in it. but if you're actually in the market every day from scratch, trying to notice what doesn't work, what can get you hurt, what can keep you out of tremendous gains, then you know there's another way this situation can play out. sure, narrow rallies can collapse in on themselves. that can happen. or you know what they can also do? they can broaden out. and then the market keeps chugging higher and higher, chugging higher and higher. without the sages who told me to ge

nvidia. nvidia doesn't manufacture its own chips. taiwan semiconductor does, and that phoenix arizona plant i happened to visit two weeks ago is enormous. it's going to take over a lot of the capacity for nvidia so they can meet all the demands. charles: software, everyone knows microsoft. i don't know if everyone knows comfort system special counseled like mate researcher company. the symbol may give us some insight. >> more of haired wear company than software play. they supply the cooling solutions to data centers, as we know data centers run very hot. they consume a lot of electricity, companies like comfort system, manufacturing vertiv which we have spoken supply the cooling these data centers need. charles: i thought the digital realty was an interesting play on data centers. real estate was the best performing sector of the last three days last week coming on pretty strong is it these sort of sneaky ideas that are setting the pace there? >> without a doubt. real estate investment trust, they own 300 data cross the globe, how a

and that's the big sell from nvidia. they're why they've been here guys. >> i'll just pick up on one point you made about physical ai as well. this is jensen huang speaking as he talks about it coming in the form of robotics and automation. l'oreal. i spoke to the deputy ceo yesterday and they were talking about building products from a concept on a computer to a 3d version, which means it's much quicker in terms of marketing, advertising, showcasing the product and capabilities, but also using big data diagnostics and ai, pulling this together so that the products they're coming up with are just more relevant to the consumer, which as we know, product innovation. that's really moved the needle on earnings, at least for european companies, food, beverage and skincare companies in recent years. but we're going to have plenty more conversations. and to catch up with that conversation with jensen huang that arjun has just conducted here this morning, you can head on over to cnbc.com. our website, as steve giuliana would say

potential savings from nvidia amd.hould say melissa. >> christine, lisa sue was also talking about an open system yielding the best, you know, innovation. and i guess that's sort of she's talking her book. she wants people to be out of the nvidia ecosystem and be willing to use amd chips and technology. >> right. so it's the seventh generation rocm. that's her software platform that they also announced the seventh generation. that's an open ecosystem, which differs from cuda, nvidia's closed system. but if you recall, perhaps, maybe just was it a month ago? not even nvidia is finally opening up their closed ecosystem specifically with the product called nvlink. so without getting too technical, nvidia is realizing that the future is open. you need to be able to take different parts from different companies, even though both companies really just want to own the entire stack and have everybody just stuck on their products. but it seems like that's not going to be the future people. chips need to either work together or

doing on the scale that nvidia can do it on.here are a lot of countries right now saying, well, there isn't another option for us at this point, even if we wanted another chip partner to do gpus. you know, many have looked at amd and thought, why haven't they called up yet? so clearly, nvidia still very much central to this infrastructure build out. and it's become a case here of countries really feeling that in order to stay competitive on the technological level, it starts with the data center, with that build out. and that's happening in conjunction with not just nvidia, but also companies like amazon, like microsoft, google, the big hyperscalers as well. and their feeling is that you need the data centers in order to be able to have the compute available in the country, to then order to foster those startups and that big, broader ai ecosystem in the country. so it's been really fascinating. i think the way that jensen huang has been so hot property for countries themselves, which is something i feel has been so different to

plus how aws is building an army against nvidia. the new chip announcements, what it could mean for nvidia's ai market dominance. do not go anywhere dominance. do not go anywhere fast. [sfx: wind, rain and rolling thunder] with the vision to see what's possible and the grit to make it happen, morgan stanley can help create the future only you can see. [crowd cheers] [music out] variance. the technology that enables it is continuously pushing the envelope on how we change lives for the better. when you know how you want a customer to feel, you re-engineer completely how you think about going to market. only getting isolated results? big gains come from ai that works across all your data and applications. the ai built for business. ibm. (vo) what does it mean to live a rich life? it means brave first leaps. tearful goodbyes. and everything in between. with over 100 years navigating market ups and downs... we'll help you move ahead with confidence. see as oil men, we never miss out on a boom, so when the xfinity wifi started booming, w

is being spent on an nvidia gpu. and so you know we know who's winning right now. >> so you look at your other holdings, that's one of your top holdings. nvidia obviously is microsoft is hitting a new high today. we'll talk to dan ives more about that coming up. have any concerns about some of the commentary between what's openad that what was a seemingly great relationship is, is showing some signs of fracture? >> i don't really think so. look, i think microsoft is taking a little bit more of an asset light approach, increasingly saying that we don't want to necessarily be all in on frontier model development only. they certainly have secured capacity for openai for the next five years. so i don't think that business model is much at risk at all. if anything, they're trying to innovate more on the application side, which is historically where they've won. right. and so openai has secured funding from other places, right. you saw project stargate. some of these other backers are starting to fund them, fund their deve

apple and marvell amd and nvidia nvidia.just talked about nvidia becoming the us's most valuable publicly traded company right here. rounding out your best performers on the nasdaq 100. then we have the other side of the coin, the nasdaq 100 laggards taking a look at those trade desks, pulling back about 3%. big digital ad company asml, datadog, vertex and pdg holdings. big chinese tech company renting out your worst performers on the nasdaq in the premarket. also checking the small cap futures this morning. taking a look. you see small caps are up fractionally. we just mentioned we're going to talk a lot more about small caps. small caps are on pace for a two month win streak. and we're going to have someone from td cowen giving their best picks on the small cap and the mid cap space coming up in just a moment, i also want to take another look at the a look at a part of the market i've been personally looking at is the ark innovation etf. it did pull back yesterday almost 1%. but take a look at this chart. it's on a five we

>> yes, what i would say is the market is a little fatigued around nvidia and key nvidia suppliers.ear for nvidia to reach meaningfully all-time highs, but do not get too tired. do not, keep your eye on the ball here. blackwell as you and i have talked about it is ramping finally and really look for that august call to come from nvidia as well as the november call. super micro is downstream. charles: so with a minute to go, i want to pick-up on that because in your note too advanced micro which used to lose all the time to intel, of course they eclipsed their shadow, and then the stock got hammered here but it's coming back. is this sort of the dark horse? could they actually best nvidia over the next few years? >> i want to be really clear. nvidia will remain number one but yes, i think that there is a chance. you know i love these bold pre dick's and making them and my current bold prediction is that amd stock performance will exceed nvidia in the next two to three-years and it really goes back to that inference market. that is when amd strengths will be on full display and finall

this all bodes very well for nvidia.if the market turns, stuart, i think nvidia could go even higher. stuart: very interesting. daniel newman, on top of it as usual. see you again later. >>> 128 democrats in the house joined republicans blocking an attempt to impeach the president. progressive congressman al green introduced a resolution claiming trump usurped congress by striking iran. todd, again, are rational democrats pulling away from their blind opposition to trump? >> it goes in line with my priest answer, they know that the country -- previous answer. they know the country is down the middle. donald trump did nothing to warrant impeachment. you can impeach a ham sandwich with, that is accurate, but what you and i and a normal person thinks of impeachment, a successful bombing run against the country that has stated they want death to america, us blowing up their nuclear ambitions, that an impeachable offense? the majority of congress, including the majority of democrats, realize that is a loser come the midterms.

that's like an nvidia beat. we're talking 16% revenue growth at the midpoint for a company that's been around forever. on top of that, management says they can earn $2.25 per share for the quarter, $0.17 higher than what wall street wanted. the company also reiterated its full year sales forecast. despite the miss for the first quarter, dell raised its full year earnings outlook by $0.10 to $9.40. the analysts are only looking for $9.31. more importantly, on the conference call, management made it clear that this robust forecast includes the impact of trump's tariffs. ceo jeff clark has been there forever. i love him explained that their guidance quote includes everything that we need to know about tariffs as of today. you know, that's a big issue. we want the companies to build it in. we don't want the ones that don't. okay. unfortunately we can't put this issue to bed because the president loves being unpredictable. but at least they'll seems like it has the tariff situation somewhat under control. clark also

and you know if you own nvidia hold on to it.have at least some i mean in for many years it was, you know, have 5% or 3% in gold. well, maybe have at least 5% now or maybe even a little bit more for the reasons you touched on. i mean, you know, the flight to safety issue is becoming a problem. sometimes it works in the crypto market, sometimes not so much. we're having some issues with the dollar that maybe not working out quite as well recently. well guess what? gold has been working for 5000 years, so i think it will continue to work well because we have all these issues about a slowing economy, slowing earnings growth at a time when the market's really expensive. and then of course we have these geopolitical issues. why not have some protection there. >> we were talking with steve liesman a little bit about the push for the fed to cut rates this year. the other factors that are playing into that, for instance, labor inflation, wage inflation is a real factor. and when i'm talking with ceos, they're saying, okay, well, we've al

you know apple, nvidia all have large exposure to the china market.ink that's an area where trader would provide a lot of relief for the tech sector as well at this point. >> yeah. speaking of apple, their worldwide developers conference coming up today, we just highlighted earlier shares are negative year to date, a lot of pressure on this company to come up with some ai developments. and of course a trade deal would help them with their iphone business. i want to talk about emerging markets. so you and i, we talked a little bit before the show. china is your number one emerging market. and specifically if there's a trade deal, i think you'd be even more bullish on. >> china. >> outside of china. where else do you see the beneficiaries of a possible trade deal? would it be india? would it be, you know, vietnam? would it be brazil? who else benefits? >> so i think india has been a market, which is, i would say is more defensive at this point. their exposure to the us in terms of the revenue exposure is very low at 5%. so a lot of people seeing them as

first hill it went straight up and it looked like the market was going to break especially after nvidia came out with great earnings and he blocked all of trump's tariffs and people realize were getting ahead of ourselves and they were right because it appeals court came to stay on that decision of the market fell, friday we had a bunch we tariff things over china and the negotiations are going well, more tech walked in the market dropped, is a good week almost 2% for the s&p 500, a great month the best 2023 it didn't feel like that. >> on most all the games on the first day you think investors are getting a point where they get is a side to ignore the hour by hour tear of changes. >> in some ways they need to. we don't know where these are going to end up if you look the market is trading sideways staffing to 6000 but is not really dropping but i think people are waiting to see what can happen with tariffs in the economy all these different things waiting for a signal to come but we haven't gotten it yet. >> bonds had a good week and that's really reassuring. >> the previous week every

nvidia is definitely back in favour? thank you for having me.es, absolutely it has been a rollercoaster ride for nvidia this year but i think there is clear and enthusiasm on ai and obviously nvidia is a poster child of ai. it is the most important supplier of the gears for major tech companies like google, microsoft, openai so it is hugely important in the whole ai ecosystem and building infrastructure. it is critically seen as not a cheap company but a provider, chips, the network, the software, thick cloud of it and that is why markets are giving it very high valuation and many investors are very enthusiastic and excited about the future of nvidia. and it is back into the happy place markets like to be in but the question is, are we just a few weeks away from a very turbulent time for financial markets because that deadline for reciprocal tariffs is due on july nine and obviously negotiations are said to be in place between now and then but the tariffs fear factor has gone away, hasn't it, and the attention has been very much on the middle ea

a rival to nvidia. that is next.is bloomberg. ♪ ♪♪ the new care.com makes it easier than ever to find the care you need. ♪♪ because while you want to care for your loved ones, it can't always be you. and you don't have to hire just anyone. you can find a background-checked caregiver who's the right fit for you. ...from child and senior care, to pet care and more. join now and find care at care.com quakes it is in a goldilocks circumstance between these two ideas that you are rich with great computer scientists, it's a fantastic place for vcs to invest. the ecosystem is really perfect for takeoff. tom: the nvidia is ceo jensen huang speaking last week. or i should say earlier this year the u.k. announced plans for an ai energy council to ensure britain's energy infrastructure can cope with the demands of ai. it's a big ask for the u.k. the international energy agency predicts electricity consumption by data centers will more than double by 2030. joining me now to discuss how we can make ai more energy efficient is cof

it's nvidia -- >> yesterday was nvidia, yeah, $3.36 trillion -- stuart: nvidia's now more valuable than. meta, they want to use more solar and wind power. why? >> okay. my take on is this is they need any energy at any cost, right, to power a.i. we just talked about how palantir's partnering up with a nuke -- the nuclear company, this is meta thinking, yes, talk about lease more -- nuclear's more reliable, but let's get all the energy we can to help power a.i. stuart: paypal, it's going to help pay student athletes in how does that work in. [laughter] >> you remember that story, right, where the ncaa can now pay student athletes. so paypal has teamed up with the big ten and the big 12. they're enabling those payments so when colleges want to pay the students, they can do so through paypal. and i know you've had a lot of people on this program that have liked paypal. it's that fin-tech payments firm. so we'll have to see if this is a big win. stuart: it's had a pretty choppy time, a lot of that. next case, bernstein, the investment advisers' company. they're calling coinbase the amazon o

nvidia 3.477 trillion with a t.an ives updating his top 30 names to play the ai trade, nvidia and microsoft among the top picks along with alphabet, amazon, meta, wedbush also announcing a new way for investors to tap into the ai trade. and our dan is here on set the new way the ives etf. >> ives no. we're so excited to be launching you know here with you frank. i mean look you know around the globe investors are always asking you how do you play the ai theme. what are the ways to play it. and this is look this is an etf. it's based on our research. i mean the ai ives 30 and really showing it's not just about mag seven. it's about the second, third, fourth derivatives playing out in this fourth industrial revolution. it's a golden age for ai. just beginning. >> i want to talk more broadly. if people want to read about your etf, we're going to have something up on cnbc pro. a lot more details. jesse pan, i believe, always does a great job so they can read all about it. all right. i want to talk to you about the ai tr

against nvidia. those details next. >> nothing stands still. not economics, not the market and not franklin templeton. we've been navigating market ups and downs for over 75 years, trusted by advisors and investors to deliver perspective and strategies for even the most volatile of markets. empowering advisors with solutions to build nimble portfolios for today and beyond. franklin templeton, your trusted partner for what's ahead. >> at interactive brokers. independent rias work with the best research and trading tools designed to help them outperform the markets. meet them at interactive brokers investors marketplace for advisors advisors at interactive brokers keep all they earn on our low cost platform with no ticket fees or custody charges, low margin rates, and high interest earned on idle cash to get better results. get a better better results. get a better platform. the best new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job on indee

i would ask him, frankly about nvidia and how i fed nvidia using chewy. >> of the now we're talking about the dog. that can get very confusing for people. >> 2017 look at when look when nvidia was alive and kicking in 2017. that dog had horse sense. now dave buster's actually had a nice little run here. it's become a little bit more fat. dave and buster and urban outfitters are the two outliers. people forgot about them. they left him for dead. and that's just wrong. >> urban gets upgraded over at baird today. urban should outperform. there's a target shareholder meeting. jim. there's a lulu meeting. lulu. the p e at a decade low. >> lulu is fury. i think lulu is really. i think i misjudged lulu. i misjudged the competition. >> i really. yeah, there's even more than fury. there are a lot of other ones as well. i mean, there's any number of these companies that have come along. >> i think target has to really start making a statement that we're going to lower prices. now. they're going to say they have low prices. they have to lower them to 2018. in the ai

you guys, nvidia closing at a record high. for the first time ever: that that's going to do it for us. "kudlow" is next. ♪ ♪ larry: hello, folks, and welcome to "kudlow." i'm larry kudlow. so president trump is a peacemaker and a new abraham accords middle east is emerging from his obliteration of iran. mark dubowitz will be on that later in the show. plus, tom homan warns of biden era sleepe

called groq is making ai chips that experts say could outperform nvidia chips for some tasks. i went to meet the asia-pacific head of groq. a peaceful chess opponent. and ai painter arguably not a great one. and countless companies offering ai solutions for everything from recruitment to medical care. it's all here at the super ai summit in singapore. when you come to these kinds of events, it's plain to see that the hyper and artificial intelligence -- hype around artificial intelligence is very real especially here in asia. but it's not just about the robots and the large language models, it's also about the chips that power these systems. groq's chips are optimised to speed up responses from ai apps. some experts say chatgpt, for example, could reply up to 13 times faster if it was running on groq's chips compared to nvidia's. if you're talking to a support desk over the phone, you can be talking to an ai agent instead of a human in the future. and you want that conversation to be very natural which means it has to happen very fast. if you're a doctor and you're using a sof

and also, you know, where nvidia was really on the other side of the us government. nvidia right now seems to be, you know, alongside the us government running around the world cutting sovereign ai deals. we're going to talk a lot more about meta's deal with constellation. but that's just another affirmation that the demand out there for ai data center is alive and well and hasn't even altered at all. so i think blackwell supply some of the dynamics, i think, around just what's going on with their next wave of chips has now been answered. there's still some uncertainty, but why would we doubt nvidia after they've delivered on everything else? but most importantly, it gets back to valuation because this is a company that's trading 27, 28, 29 times 12 month forward with a nasdaq that's at 25, 26 times. what would you rather own here? would you rather own nvidia and its growth or the entire index, which people say is also expensive? >> would would you would you rather. yeah. would you rather you do. but i do own a number of them. right, right. so i do own it. i think th

my lady nvidia. the data center is built around nvidia's chips. lately, though, we've been seeing amd, they're only semi meaningful competitive stocks up like 40 straight points when a lot of business. same with cisco arm holdings, marvell tech broadcom plays a huge role in these vertiv makes power and cooling equipment for the data center core. we've runs data centers and rents out their computing power. dover and eaton supply parts of the infrastructure. vistra energy and constellation energy produce and sell electricity for the data center. ge for nova makes the turbines for the power plants. i know it looks like turbine, but you pronounce it turbine. the data center alone has caused a huge spike in electricity demand, and the ancillary players from that anomaly are doing well too. fourth group of winners. the semis. now lots of overlap with the data center, including the biggest being nvidia. but there are plenty of semiconductors, semiconductor capital equipment stocks that are on fire. there's texas instruments, nxp semi, applied materials,

it's been happening in amazon and google and nvidia. tesla. broadcom servicenow.ulls are right, then these stocks can take up the entire market. we've seen that before haven't we? at the same time, he notes that the vaneck semiconductor etf, the s.m.h, has been consolidating for the past year. that looks poised to break out to the upside. the consolidation upside, given that nvidia has been roaring lately, while taiwan, semi and broadcom have also started working their way higher. he's feeling very bullish about the chipmakers. i also like the action amd and marvell. of course, this is not just about the bull market in ai. whether or not the fed cuts rates at its next meeting, it's very likely that rates will go lower over the next 12 to 24 months. not higher. and lower rates are almost always good for the broader stock market. look, if the ai boom is really a sequel to the.com boom, then that's good for more than just the ai stocks. we had all sorts of big winners the late 90s because people felt so good about the stock market. so here's the bottom line. the char

nvidia's chips are generally seen as the industry standard for running ai models, but another company called groq, with a q, not to be confused with elon musk's ai chatbot, is making ai chips that experts say could outperform nvidia chips for some tasks. suranjana tewari went to meet the head of groq for the asia pacific region. the peaceful chess opponent, an ai painter arguably not a great one and countless companies offering ai solutions for everything from recruitment to medical care. it is all here at the super ai summit in singapore. when you come to these events, it is plain to see the hype around artificial intelligence is very real, especially here in asia, but it is not just about the robots and the large language models, it is about the chips that power these systems. groq's chips are optimised to speak responses. some experts say chatgpt could reply up to 13 times faster if running on make three trips compared to those of nvidia. if you'd talking over the phone, you could be talking to an ai agent instead of a human and you want that conversation to be natural which needs

i personally love nvidia right here. fact that if you go back to middle or early of summer last year, the stock is kind of traded sideways. it's still slightly below its high in the multiple that you look that it's getting in. the market is very low relative to its growth. i think the key for nvidia is they're still dominating the training market with gpus. they have the best product. it's it offers customers the best performance. and the demand is insatiable. so they're making and selling everything they can. and the key here is they're what i think is going to be almost an acceleration of their sequential quarter to quarter beats and raises. that will come as more of this blackwell product, their most advanced new gpu system, starts to ship in volume this quarter and then going into the back half of the year. so that's going to be the true test. and i think they pass with flying colors. >> i want to ask you kind of a double sided question. number one what are your top picks in the space. and also we're talking about de

>> nvidia versus nvidia. >> there you go. >> right. which would you rather be in?ltiple and nvidia well the multiples actually shrunk there. >> yeah i mean it can be i think the next question will be do they is long gone. gone. >> we all expect these really. we all expect the can view would merge. you know david there's halion there's ken view. >> halion seems to have done better. >> than ken. >> putting on better. it's putting up better numbers. >> i think halion. >> in terms of. >> metrics, know how to differentiate, make the product more exciting, i like them. that's probably one of the only consumer product companies that actually is getting it right right now. right. you know, look, look, procter has done a series of right things and nobody cares. it's kind of hangs there down two down two and a half doing the right thing laying off people. and it's down to a half. what is that. >> what we do know that the share of the market that is owned, that is owned defensives is pretty low relative to history. people are not set up for a defensive crouch. >> no. and peop

got to take away from revenue from nvidia. that's got to be a headwind. so everyone of the mag seven names are all working on their own specific chip. having said that, microsoft has done the best job at working at it, and they also cut back on data centers. so they seem to think they've got it pretty well covered with the capex that they've already spent. so it would be microsoft. but i do like the catch up play with apple. so i'm going to go out. i'm gonna go apple with the install base. apple's install base. utility margins on apple. exactly. margins on apple. the services revenue. you have over 2.3 billion users got to be able to continue monetizing that. everyone's bet against apple. and i think apple is going to pull a rabbit out of a hat, whether it's perplexity or whether it's something else. i think that they will catch up in the stock. >> dan, you're in san francisco and i feel like you have said negative things about all three of these stocks at some point in recent history. so where do you stand here? >> yeah, i think for apple, that installed

they're continuing to buy what nvidia is selling. and nvidia is not having to discount anything. and they've got long backlogs. >> all right. let's talk about the magnificent seven. we know meta was in the news yesterday signing this big nuclear power deal with constellation energy. is the mega-cap technology comm services trade the mag seven trade. just one you should just go with and let it just ride. >> you know, basically we're at the early stages of this. this is a generational opportunity to increase labor productivity in this country and really worldwide. and so i think you're you're in this situation. anybody who's tied to that is going to have very long legs on their growth for a period of time. so yes, it's kind of this is this is the beginning of the of the next industrial age. and this is this is one of the key points to it. absolutely. >> dryden, for those people who don't know dryden, his jacket liners have railroad cars on them. you can't see them right now. but just take it from me. you'll know. all right. dryden penn, cio of penn capital management, thank you ver

after ceo of nvidia jensen huang says that technology is at an inflection point. it's got qubit on the move up 29%, rigetti up 11 ionq, interestingly, is lower over in the traditional space. ibm is trading around all time highs and on track for its ninth straight day of gains. so it's not just bleeding edge technology. no offense to ibm. and finally, a high flier worth flagging. nuclear firm soaring after they were chosen to supply power to a u.s. air force base in alaska, shares are up 27%. >> that is a big, big gain. good, good, good on all the investors that are out there. all right. we got a lot more to do. but we're going to begin with the headlines on the trade front. the us and china have outlined a framework of a big trade deal. to be very clear, there is no set deal yet. remember, any actual agreement would have to be approved by president trump and president xi jinping of china. but on the surface, this appears to be a positive development for the administration. commerce secretary howard lutnick weighed in earlier today on cnbc. >> we're in a great plac

send nvidia stock flying on the news of potential talks. buyers are betting that trump will change course and allow nvidia to sell up to $50 billion worth of chips, billion dollars worth of chips to china this year alone. and china will cut us a break with our rare earth needs. the art of the deal. yet this stance, leaked by still one more white house official, seems pretty definitive. maybe it's all a negotiation. another hopeful view this market keeps taking. or maybe it's over. but does anyone truly believe that this administration will give china what it wants? hey. anything's possible. that seems a stretch to me. even jensen huang, ceo of nvidia, said the president has a plan, by the way, i think jensen makes a very compelling case when he argues that we should let nvidia sell those chips to the chinese, because otherwise china will indeed invest much more heavily in their own semiconductor industry. wouldn't it be better to blunt china's efforts to leapfrog us and keep them dependent on our chips, the same way we're dependent on their

marie: talk to for a moment because like nvidia and microsoft and even though microsoft did guide toing, in terms of a.i., related businesses and where you want magnificent seven right now for example the scenic in april we talked about the fact that nvidia and microsoft were actually are favors especially after numbers have been reset lower citations have been reducing like you said with microsoft, they are spending by the middle of this year will go to the midteens versus 80 percent growth and best calendar year as expectations have come down obviously, nvidia had the big write-off in april and now you're not having china in the numbers and that has been reduced in know you have expectations of making much more sense to forget nvidia stock was down 49 percent something to trough and that's a lot better when you write something down a lot and you can hopefully by the backup as the numbers get reset. marie: great point is always a pleasure dan, and ice protest heat up this weekend in new york and the impact on the workers in business and tourism next. we've always been competitive. ♪

this make or break hour begins with nvidia's new high.minutes. and we'll track every move of it over this final stretch and discuss how high it can really go with goldman's co-head of public tech investing, seung cho. can't wait for that. outside of that name, not a lot going on for the majors today. they've traded within a pretty

by the spring of 2023, nvidia was making new all time highs.the way, we told you to stick with this one for the child trust, because jensen had earned the benefit of the doubt, nvidia was always able to reinvent itself in the past. so we told you to hang on even when things were at their most ugly. in the great tech bear market of 2022, something very similar happened with marc benioff, the bank ceo of salesforce during the depths of the great recession, is another important charitable trust name from pretty much the get go, he explained. his cloud software company would be fine and we should just. well, he just said it's going to be the future of the industry that he said there had been no real slowdown at all in his business, even though there was slowing everywhere else. he was right. and if you listen to him, you made a killing. more important, if management tells you something is wrong, then you've got to take the person seriously. specifically, whenever a company announces a shortfall, you need to wait at least 30 days before you evenin,

nvidia up 1% and has overtaken meta as the most valuable u.s. nvidia and meta at 3.4, microsoft is what it has overtaken. nvidia $3.4 trillion as microsoft meta is all the way down 3.6 trillion. it's not a 3.4 trillion meta is only 1.6 trillion. >> it makes me think tesla is cheap. >> president trump signing an executive order of steel and aluminum at 50% of 25% u.s. china trade talks remain stalled trauma posted early this morning to truth to social. i like president xi of china always have always will but is very tough and extremely hard to deal with the white house is asking countries to send their best trade offers today, the organization for economic development is cutting into the forecast 1.6% they claim over tariffs for 2025 but the atlantic federal reserve is projecting growth of 4.6% in the second quarter joining me now stephanie pomboy, your reaction to all of the movement on growth expectation what second-half are you expecting. >> before i get to that i want to issue a belated congratulations on the deck cave at fox business that is

we have nvidia then we have general mills. general mills used to be a great company with solid growth, but it has got a guy at the secretary of human, you know, health services. yes. who doesn't like dye in food. do you know what food really looks like? do you. >> soylent green? what does it look like? >> the soylent green is actually. >> is not. >> food to the average european, but food looks awful. >> it's people food. >> food looks like people. >> yeah, that was charlton heston, actually. >> the donner party. it's a cook book. no, i mean, look, i just say that that when you look at that was. i know that one too. great one. when you look at general mills, when you. >> serve men to serve men. >> yeah. when you look at general motors, we're just abysmal. again. >> not the first. >> time secular. it's like the downgrades you keep seeing in constellation brands secular. so there are sections of the market that are just uninvestable. they're huge. and then there are a couple sections that are great. by the way. finance is great.

micron up 90% nvidia up 65.we'll dig into this stunning rebound next. into this stunning rebound next. >> this is the exchange on (vo) even the life that's rich with meaning, can take an unexpected turn. and when life brings you change, we have over 100 years of navigating market ups and downs to help guide you with confidence. ♪ at&t business, we guarantee our best deals on any smartphone with your choice of our best plans. what we can't guarantee...your employees having a similar work style. you hired them. or your staff all having the same vibe... i like their style. and your design team being on the same page? bold choice... for 2002. gasp! what at&t does guarantee: our best deals on any smartphone with your choice of our best plans for any employee...and we mean any. (mnemonic) strength in changing times requires leadership. hilltopsecurities is a leading municipal investment bank and wealth management firm with a 79 year legacy of trusted financial advice. public entities, institutional investors, and indi

of course nvidia. nvidia nvidia.since 1990 if you look at that time frame, i got to tell you something that is just one smoking hot stock and i would not walk away from that. save your life. i need to go to dennis in north carolina. dennis. >> jimmy happy friday. what's up. >> man i feel like working all weekend. if only someone would pay me. i'm ready. >> let's go, let's go. hey. back in may, this company beat all analysts expectations. posted record profits, but held the course on their guidance. and they've been paying for it ever since. if we liked it at 120, do we love it at 98 bucks? do we buy, sell or hold okta? >> you buy okta. todd mckinnon is unbelievable. he came on the show. he said a lot of good things. i think that he's being conservative. i want to own more okta. but to be sure, i like crowdstrike and i like palo alto. i think both of them have a little more game than okta. let's go to john in arkansas. john. >> greetings from the natural state, mr. cramer. >> you betcha. man, i wish i were down there.