Fast Money : CNBC : May 22, 2024 5:00pm-6:00pm EDT : Free Borrow & Streaming : Internet Archive (2024)

ceosasan goodarzi is going to give his thoughts. this used to be the huge quarter for them, april quarter, the tax quarter, but there's more to the business now >> it's a.i., it's consumer, it's fed speak that's what's driving the market here nvidia, we're going to see how this trades tomorrow, as well, after hitting a record yesterday. that's going to do it for us here at "overtime. >> here's "fast money" now live from the nasdaq market site in the heart of new york city's times square, this is "fast money. here's what's on tap tonight splitsville for nvidia the company announcing a surprise 10 for 1 stock split. alongside big beats on the top and bottom lines we have full team coverage of the results and bringing you the trades plus, missing the target shares of the retailer sinking to nearly four-month lows while rivals like tjx soar why can't the company seem to catch up and later, the chart master says goldman sachs is losing its shine. pfizer soars, and starbucks notches its best day since last

november we're diving into all of today's "fast money" movers. i'm melissa lee, coming to you live from studio b at the nasdaq on the desk tonight -- tim seymour, karen finerman, courtney garcia, and the bitcoin baller himself, brian kelly. >> great to be back. >> and we start off with the most anticipated earnings report of the season. nvidia shares at all-time hikes after posting a top and bottom line beat for q-1 guidance for the current quarter coming in above expectations the chip giant also announcing a 10 for 1 stock split and a dividend hike. the conference call just kicking off moments ago. kristina partsinevelos is here to break down the quarter. >> hi. investors got what they wanted earnings beat, revenues matching buy side pexation expectations. same for the q-2 revenue guide, came in at $28 billion q-2 margins are expected to drop to mid 70s, exactly what the company warned about in the previous call. so, overall, the company's fundamentals still in tact saw that with the beat in the numbers. but they do match buy side

expectations, which is why you're not seeing as much of a stock reaction data center revenue was the main driver record sales you zoom out on the year and that shows revenues up 427%. jensen huang saying customers have moved beyond cloud service providers, which, by the way, contributed 40% to data center revenues, but now, they have internet companies as customers, enterprise, sovereign a.i., auto, and health care. the cherry on top, like you talked about, the 10 for 1 stock split effective -- investors will get nine additional shares after market close on june 6th the company also announcing its quarterly dividend by 150% increase all of this is talking about the company giving money back to the shareholders, employees, investors, et cetera so, a big beat and i'm going to get back on the call >> kristina, before you go, were you talking about revenues attributed to cloud data centers and it moving away, diversifying >> yes so, previously, the last quarter, in q-4, 50% of revenues

came from cloud service providers. now, this quarter, and the cfo commentary is on their website, 40%. so, you're seeing the number decrease, and instead, in the press release, jensen huang is saying it is including internet companies, enterprise, sovereign a.i., they've talked about that, auto and health care so, they are getting more verticals, as they put it. >> kristina, thank you keep us posted on the call >> will do >> kristina persartsinevelos for us karen? >> yeah, so, the bar was really high, and they did a nice job of stepping over the bar. jensen huang, besides being just brilliant in building a company that is at the forefront of a.i., is also really good at managing the street. that's sort of, i think he uses that as the other part of the job. we haven't heard from him. this stock split, the dividend thing, i don't think it really matters, but the stock split, you can have a host of other investors that have sort of been shut out so, he's doing great job managing, again, he's in the

business of underpromise, overdeliver. and i really want to hear about what kind of demand he's seeing. that, to me, as soon as the earnings come out, they're irre irrelevant did it beat, did it not, okay. what does the rest of the story look like? >> and the commentary, in transitioning from their current chip to another, blackwell, if there's going to be any sort of holding back in anticipation of the launch of that new chip. >> she said the bar was cleared -- big fan of the show, dick fosberry, this was no flop, but in other words, he got over a big bar. that was why he -- he invented the flop but nvidia, if you think about the 27% run into the numbers, if you think about the data center growth, if you think about where i think they are going to hit.

there's no wons with that. we heard there's only, you know, 8% or so last year, so, demand is there demand is there, and certainly, the new segments, and as we get into other parts of the business, it is what we're hearing more about it is about autos and cpu. so, you want to know where that demand is coming from. you want to know the entire platform that allows them to kind of have this circular, you know, reinforced dynamic i think -- i think it's all here this, to me, is a huge relief for the market, and we'll get into that. but 4% move, i think this stock split is very important. even though we all know means zero, except for it means something. >> yeah, but i mean, listen, they go up, right? that's exactly the point when i go buy the ice cream cone, they don't ask me, did you get this money from a stock split or not they still take my dollars so, i think in these earnings, if there's anything, any knock at all that you see in this, it's probably the gaming sector, which is a tiny little sector. and everything else is looking good

so, i don't know what else you would want from this it is a beat now, as the trader perspective, i want to see this thing trade up and close through 975 tomorrow, which it is doing now, but we still have the ceo to speak. and that will give me a heck of a lot of confidence that the momentum is continuing higher. >> yeah, and i think that's really important here is the demand story everybody thought you were going to see a weakening in demand as blackwell is waiting to come out. but they said demand is accelerating so, it's going to be interesting to hear what they say later, but it's very indicative that this has a lot of room to continue to run. as long as the demand is there, it's absolutely going to benefit nvidia >> the implication of revenues coming more away from data center is that all these other parts of the business are, in fact, growing. that is sort of the tailwind that we were waiting for, it's not just the hyperscalers, but other people, other enterprises, are also investing in a.i. at the same pace, so, you want to see that sort of go down the chain, so to speak, in terms of companies. >> and it will

think about all the places we invested in nvidia before we knew what they were doing in a.i., or maybe we knew it. and i would get into the industrial usage i think it's a really exciting place. it's where i gets exciting for other people, too, they are known to be in the auto space for thechips you can talk about qualcomm or -- and you also think about the memory chips and we've seen the move, of course, and the impact in, say, a micron, et cetera so, this supports the trade. that kind of commentary supports the entire trade that's broadening this market, and again, to me, this is a huge relief for people. for people that wanted to buy nvidia, and a lot of people still wanted to buy weakness, they're happy that actually, you know, people that just recently bought it, this is reinforcing the story. >> just one other thing. the top line was better, the gross margin was better. also, their expenses were better so, a lot of great things going on and the diversify case you talked about in terms of who their customer is, that's a really great thing >> and it's giving a lift to

other a.i. players >> yes the whole complex. >> amd is up what is it, 1% right now we also see supermicro higher, dell, your dell. >> well, thank you we'll see. it's been good >> trading higher. but this is validation that all these other plays, and tit's not just the chip makers anymore there's enough to go on here for software, et cetera, maybe we'll see that sort of transfer. >> right and it's expanding even outside of tech, right just after close, the announcement they're going to have a deal with openai. stock's up a couple percent there. so, the theme of a.i. eating the world, changing every single business out there, continues, and i think that's really good for the market but there was a lot of concern today with the market where it's been been, the expectation, that could derail the market, even if there was just a baseline, oh, it got there, and it was okay. but this is -- this is what the market needed. >> so, the question then arises,

at what point do you start trimming back on an nvidia and putting it into something else, if a.i. is, in fact, eating the world, and we are seeing proof of it, not just through nvidia's quarters, but through the earnings we've already got son far this quarter >> yeah, you definitely don't want to bet against an nvidia or a.i., it absolutely a play you want to be in. but if you haven't made changes, you are going to be overexposed there. i don't think it's a bad time to add to other areas you're talking about all these other things that are going to benefit from a.i we haven't talked about the energy play. you have copper, energy, that's another industry that's going to benefit from the structural changes in artificial intelligence and it's a really good valuation to add here. so, i'm not getting out of it, but taking some profits, taking advantage of other opportunities, you absolutely want to look at that >> dell reports next week, actually had a very bullish note yesterday saying that we're going to see dell top estimates, they are very high right now, and the stock has virtually doubled so far this year >> yeah. and it's not crazy expensive

now, a lot of things are converging at the same time for dell this relationship, storage, servers, also, you have enterprise spend coming back and i think we're going to see a stronger pc -- quicker and stronger pc refresh than we have, as they become a.i. native, or the co-pilot, you know, button is on it, and so a lot of great things happening, and i think they are just going to be generating a tub of cash >> yeah, i think you have a case here where not only the market dynamics are reinforced, but i think you've given life to some of those industrial plays. this is only going to reinforce a margin story, you cross it i think if you think about what we wanted to hear from this company, first of all, there is still a lot of didigest i think there are a lot of people that really were hoping this was going to be a tough number i think people wanted this opportunity to buy it weaker and this is -- this is almost the event -- right now, again, the stock's move this is almost a nonchalant move it was a year ago when we really

first started getting blown away by nvidia's numbers. and if you think about this move today based on those numbers, i think it's good news, not bad. >> i mean, one could almost make the argument that this move in the afterhours session is all stock split. i mean, you know -- >> right >> because it's sort of -- it stepped over the bar you used the -- what was that gentleman. >> fosberry. big fan of the show. he's watching right now. >> that doesn't speak to a blowout quarter here >> well -- but if the bar is that high, that's my point, i mean, dick fos berry got over some high bars >> you wore a black jacket and jeans everywhere he went >> yes >> but i'll just say this about the multiple for nvidia, relative to the market, it gets back to always on some level valuation, and i know the numbers are ones us with play around with with a stock that's moved this much, but nvidia is trading at 1.7 times the s&p multiple, which is very cheap to

its ten-year average, so, you know, it's not like it's really expencive. i would make that argument >> and if you have this type of growth, you can probably trim some and talk about the other things you want to do. one more i would add in there is apple. if they're going to refresh their phones and computer with a.i. native, that's going to be in a completely different story there. but i mean, you know, apple is up a bit, we're not the first people to discover this. i would be a buyer of apple around $180 on that news >> all right, let's get more on nvidia from chris rolland. what is your take on this quarter? what are the questions you still have in your mind for the conference call? >> yeah, i think you guys covered it really well this was just a little bit better than buyside p expectations, with that stock split for the retail crowd, to get them going, as well. we are all as analysts focused on really the last two quarters of the year, and it's -- this transition to b-100 and gb-200,

that's really what matters here. these are really compelling products from a price performance standpoint they're super compelling, they're better than h-100 and h-200. from a power perspective, these guys are bringing in liquid cooling, so, from an energy perspective, it's going to use less and we're just worried about a potential little gap in q-3, q-4. that would be our biggest worry and anything they would say on the call to alleviate that would be helpful >> so, the company in the press release tried to make the case that they're seeing demand actually accelerate, despite this transition that's to come later on this year you think, though, if there are any hiccups in terms of companies holding back and waiting for that blackwell offering, that it won't happen until the second half. >> yes, that's right right now, they're being helped by the h-100 to h-200 transition, where they get twice as much memory

we'll have b-100 later in the year, and any delays in in the gb-200 product in 2025, that would increase the probabilities of that kind of revenue gap that we're talking about. so, that -- that's how we're thinking about it. >> chris, it's karen thanks for being on. so, what are you seeing for h-200 pricing? and how do you think that evolves, how do you think that plays out, as people look to switch later >> yeah, this is really all about memory, and nvidia passing those margins, those memory margins, onto their customer for us, gross margins were good, perhaps a little bit light maybe they weren't able to pass on all of that memory cost-up that we would have expected. probably not in, you know, 80% range that they get for typical data center products but so far, h-200, the transition looks pretty good >> chris, talk about the

broadening that we were talking about in terms of where this business is going, but obviously, new -- >> by the way, sorry to interrupt, nvidia hitting $1,000 a share as we speak in the afterhours >> makes for a nice even $100 on a 10 to 1 split. so, yeah, talk about other sectors where, again, you know, maybe these were places in a past life we actually talked about with nvidia, but you know, whether it is auto, cpu, what gets you excited here to look at the future >> yeah, i think that's a little bit confusing, because we've been so supply constrained that you would hit your largest and best customers first and work down to the enterprise over time so, this is a broadening, but it may be more of a supply dynamic overall. but as we move forward here, things like omniverse, enterprise, on-prem, a.i., they're going to be more important, and you will see a broadening overall, just maybe

not as quickly as this report kind of signifies. >> and chris, in terms of the hiccup that you might be looking for, questi-3, q-4 timeline, is something you look through, or is that a real stumbling block that could impair the business in any way >> we would be looking through it we think the gb-200 products are incredible these are basically, you know, full super computers, connecting 576 gpus into one single, look, wholistic cluster there's nothing else like that on the market but we don't know if investors are going to look through it in the same way i would imagine a hiccup in the stock price, you know, kind of correspondent with the numbers >> chris, great to get your take thank you so much. >> thanks, guys. >> chris rolland, a $1,050 price target on the stock.

the stock hitting $1,000 brief in the afterhours session. what's your take on the price action seems to continue to get stronger >> i think chris is going to have to take his price target up, because we're going to be there before the end of the show, another 50 bucks is not that much. but again, if you talk about momentum, we talk about the different traders that are going to come in here, a breakout of this type of proportion is going to get a lot of people excited about it retail traders, momentum traders. as long as we can hold these gains, i do think that momentum continues. >> and the retail trade, we've seen it, it can be powerful when it wants to be, and 100 bucks a share might be the point >> and not terribly discriminate on necessarily valuation, which i think is fine. but also looking more at really the secular and the dynamics that i think this company in the position it has, both in their lives and in the concept of where, you know, we think the economy is going i think this is a relief to buy for people that didn't own the stock. it's confirmation, it gives you at least another runway of a

quarter or two >> and might give us confirmation for the market rally. >> yes >> s&p records here. this was the last sort of test, right, for the rally here? >> i think you can exhale and -- and they did they delivered >> all right we'll of course keep you posted on the conference call, which is ongoing right now, as shares hit $1,000 in the afterhours session. we've got a news alert here on pfizer and moderna seema modi has all the details >> melissa, the u.s. is in active conversations pfizer and moderna on a potential vaccine for humans, that's according to a reuters report it follows the cdc confirming a second human case of h 5 n 1 bird flu tied to this dairy cow outbreak in the u.s. a little bit of context, it's not clear at what level these talks are happening, and how far they've progressed, but it's not uncommon, of course, for the government and the vaccine makers to have these conversations. it's happened a lot over the

past couple of years, as we come out of covid we have reached out to both companies, we're looking at shares of pfizer and moderna higher in afterhours, melissa. >> seema, thank you. two holders of pfizer here on the desk, long suffering shareholders on lifts on this vaccine news. avian flu, it won't be as pervasive, i would imagine, as covid was during the pandemic, but this could help a little bit. >> yeah, although, as a pfizer shareholder, i don't want to hear anybody about paxlovid or anything related to covid vaccines, because it's been an albatross. what was successful, gave the company substantial windfall, which they reinvested in new pipeline, we haven't determined what's going to pay out of that yet. the cost-cutting is interesting. look, at some point, you had to see some catalysts for the stock, which was taking a long time to bottom this is incrementally good news. this news doesn't mean a whole lot to me. >> the new cost-cutting announcement on top of cost cutting that was announced at

the end of last year is an increase in that >> yeah, i mean, i like that they continue to find costs, i just wonder why they didn't find it last time but the stock really has been so bad -- you make the most money when a stock goes from terrible to just bad. >> is it just bad now? >> it's still pretty terrible. >> really has been -- yeah just terrible. but -- >> are you a holder? >> i don't think we want to hope for, like, a bird flu or something like that, that would benefit them, so, hopefully it's something else like -- they have a lot of cancer drugs in their pipeline, which would be beneficial for people. i think there is a lot of that longer term potential that could increase sales for them. i'm hoping it's not bird flu >> it would be terrible if we sat here and said, you know, the stock is plagued we're not doing that right now all right, coming up, more on nvidia's results. rick heitzmann is here to dive into the ripple effects and the major implications they could

have on the market. tjx at a new high. target misses the market and monster reversal for williams sonoma. we'll break it all down next this is "fast money" with melissa lee. right here on cnbc (grandpa) i'm the richest guy in the world. (man 1) i have time to give. (man 2) i have people i can count on. (grandma) and a million stories to share. (vo) the key to being rich is knowing what counts.

>> no application fee if you apply by may 31 at university of maryland global campus, offering online and hybrid courses and lifetime career services. learn about our more than 125 degrees and certificates at umgc.edu. ♪ (alarm sound) ♪ amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.

welcome back to "fast money. target and tjx both out with earnings this morning and moving in very different directions tjx with a top and bottom rate and raising eps guidance for the year shares closing up more than 3% target, meantime, missing on eps, but seeing a pull-back on spending in groceries and home goods. shares seeing their worst day since november 2022. we sort of put it out there when they announced all those price cuts on the 5,000 products that maybe they were doing that ahead of earnings because things were not looking so good, courtney. what do you think? >> yeah, and i think this is tough, because they really came out, they said on the discretionary items, home decor or clothing, like that's really where they saw a lot of their declines, and the question there is, you get the argument that, okay, the consumer is strapped, they're not spending money there, but on the other side, you have like a tjmaxx and

people are spending their money. the question is, they're clearly strapped with inflation, they're having to decide where they're spending their money so, the retailers are really having to possposition themselv where they have the value. people are spending money, so, i don't think you can blame it on the consumer some of that might have been baked in there the consumer spending is just not at target right now. >> i think it's just a shift in what the consumer's doing. exactly what you're talking about. even look at some of the, you know, the, like, the warehouse companies that kind of cater to online retailers, and they're saying they had a tough quarter, right? and it's this mix shift that the retailers are having a tough time getting their hands around. so, if you are somebody like a target, who people might come in there for their groceries, that type of thing, that's what's getting really hurt right now, but then people buying the one off special wicker basket or something like that, which i know tim's really a big fan of >> can't get enough. great to have you back

>> the scented candles that go into the wicker basket the chief growth officer on the target call, you know, and brian cornell, they were both saying how there's no change in their outlook for the consumer since their last investor day outlook, and yet they highlighted how the consumer is, in fact, strapped, and they cited this stat, 1 out of every 3 americans are maxed out or nearly maxed out on at least one of their credit cards. so, they are saying there are cracks on the consumer, but overall, the consumer looks okay >> well, i -- walmart told a very different story, right? >> yeah. >> so, also target was up somewhat on the heels of walmart. so, it doesn't hold up as well i've had it in for target since i sold it too early, but now it's sort of roundtripped that i can feel better. it wasn't -- it's not crazy expensive, but this isn't good enough to -- this isn't good enough to continue what they had hoped to be momentum >> i think this is a message for discretionary. and i think -- we talked about

lulu yesterday, it's had another tough day, but i think the message out of target was, not that the grocery trends are difficult, that they're getting their butts kicked by walmart, who can dictate price and will dictate price for the world from here on out, but i think it's discretionary trends the wicker baskets, it's a disappointment for me, brian, but i'll go buy more but -- >> need you to >> but i do think the consumer is running out of gas, also just on a lot of items in terms of demand i may even be less about where i think they are in terms of their wallet and their credit card spend. i just think discretionary, and i think this is a bad omen for pure discretionary plays that are going lower. we have more details off the nvidia earnings call let's get back to kristina partsinevelos for more >> we're seeing data center revenue, we did hit a record and the main point in this earnings beat was the cfo started the first 23 minutes describing the key drivers. she said that inferencing drove 40% of data center revenues just over the last four quarters or so

she also talked about cloud service providers, which we know contributed 40% of data center -- i'm listening to call at the same time the cfo said that they expect auto to be the largest enterprise vertical within data center this year that's pretty good they did a shoutout to tesla, saying tesla secured 35,000 gpus and then they also talked about sovereign a.i. when a country uses its own a.i. in infrastructure and work force, and they expect that segment itself to hit single digits, billions, this year. they talked about china, they said they ramped up their products designed specifically for china that don't require licenses, but they note that china revenue is, quote, down significantly from october that's when they first imposed the export restrictions here in the united states. and i'll end on this, the next generation hopper, the h-200, which is currently shipping in this quarter, they said that shipments are on track, however, they are supply con trained. they did ship the first set of

h-200s to sam altman at openai, so, shoutout right there and they also warned that they expect a similar supply constraint with the blackwell that's out later on this year. a lot focused on data center revenue and jensen huang has just taken up on the call to give a speech before he does q&a. >> keep us posted, kristina, thank you. a record here in the afterhours. $1,011 a share for shares of nvidia, up more than 6%. we'll keep you posted again. coming up, the conference call, as we mentioned, under way, so, we'll bring you more headlines. that's next. plus, ethereum soaring this week ahead of a crucial s.e.c. headline b.k. will break down the crypto landscape and the recent runup "fast ne iba itwmoy"s ckn o't g g on 3 kids in college. with empower, i get all of my financial questions answered. so i don't have to worry. empower. what's next.

new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel.

and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify. welcome back to "fast money. some other afterhours action elf beauty plunging despite a huge beat on the top and bottom line thanks to light full-year guidance vf corp also dropping. and dupont shares jumping on its plans to split into three publicly traded companies, creating independent electronics and water businesses. stocks slid into the red mid-afternoon after fed minutes

showed inflation worries are far from over at the u.s. central bank lululemon, we spent some time on that stock last night, falling 7% on news the company's chief product officer will depart the company at the end of the month. and notable, copper pulling back after a hot run in may the metal slipping deep entire the red after the minutes were released dealers choice, b.k. what do you want to trade? >> for me, it's copper i'm long fcx, and obviously not a great day there. but i think it comes down to your timeframe on this if you're into copper, you're in it because of the greening of america, the greening of everything, frankly, that you're going to need a lot more copper for and we haven't built copper moons in years so, it's going to be c constrained. i don't think there's any change in the story, just because the fed decided for this minute, the wind was blowing one way i don't think that's a reason to change your view on copper or freeport mac >> lululemon, does it look

potentially attractive with the decline of 8%? >> i don't know. i'd rather buy it higher on a quarter that sounds better than what's feared right now. >> yeah. >> and you, tim? >> again, they're at peak margins right now. where are they going to be -- and they haven't been discounting, but we know how force the competitive landscape is i think, again, ubiquity word is one you watch out for here i'm going to get interested, just not interesting yet. coming up, more reaction to injade' jad nvidia's earnings. that's next, as nvidia shares hit $1,020 in the afterhours. plus, goldman sachs and starbucks making mesov, and whether to add to these names in your portfolio that's after this.

at corient, wealth management begins and ends with you. we believe the more personal the solution, the more powerful the result. we treat your goals as our own.

we never lose focus on the life you want to build. and our experienced advisors design custom built strategies to help you get there. it's time for a wealth management experience as sophisticated as you are. it's time for corient.

welcome back to "fast money. shares of nvidia at afterhours highs on the back of a record-breaking earnings beat, a 10 for 1 stock split, and 262% jump in sales. the stock over $1,000 a share, hitting $2.2 trillion in market capitalization let's bring in venture

capitalist known for his investments in airbnb, rick heitzmann. >> people are putting the money where their mouth is you're seeing the enterprise buildout of those a.i. strategies, beginning with nvidia >> so, talk to us about sort of thecentric circles around nvidia how are you thinking about the next places to put your money? >> yeah, so, i think you're thinking about nvidia is theal r you saw that starting 18 months ago, continuing throughout the rest of the year then you think about, what are the software players that are going to sit on top of that and benefit from it? you had steve on yesterday talking about apple, and their in interopera ability, and their operating system being able to personalize consumer and enterprise apps. microsoft at every level of tha chain. and then there are new consumer apps that sit on top of it

but just the next level would be both the operating systems, as well as the providers of data that will inform those large language models. >> are you seeing in the early stages companies that are being built specifically around an a.i. business model, whether it be an app that helps you use a.i., or a.i. being, you know, very integral in terms of the companies workings >> i think there's two, both on the enterprise and consumer side there's probably a half dozen companies that are just learning how to do law, so, it's just large language learning models around law, replacing all those armies of legal associates who fill in the blanks of legal forms, and doing that, and doing a better job of that and then sub segments of bank loans, all those different pieces so, the whole bin go go board i being filled up quickly. >> how do you think about that environment? are you thinking about what those people are going to go afterwards or are you simply just thinking about, there's going to be this

massive buildout do you think about leisure time? >> we think about all of it. my partner matt turk has the mad landscape, which is a machin learning artificial intelligence data landscape there's 1,400 companies out there. there's only a couple public ways to play it, but the private market is exploding. so, we think about enterprise and consumer, then we think about sustainability, because a lot of these companies are just getting started. zero revenue, some preproduct. and what does it mean to be able to learn a language using that and is that value going to accrue to the apples of the world? or is it going to go to a new startup building a specific application? >> rick, in the context of everyone needs to have an a.i. strategy, and we talk all the time, we spend months talking about how google was lagging give your assessment of maybe the big three we're not really talking about, which would be amazon, meta, i mean, not the

conversation for today, or even google, in terms of, because, at some point, i think there's the same pie for all of these companies that they -- it's almost like keeping pace your thoughts on that? >> so, i think they all have -- aws, gcp, they all have their own cloud, which will benefit both directly and indirectly, as thee large language models take a tremendous amount of processing power and in infrastructure and then who builds what on top? meta is open sourcie ing lam mad a lot of their tools, because they're a laggard. if you are a laggard, you open source to try to level the playing field. if you are ahead of the game, you close source so you can monetize your benefits meta is open sourcing, but being a little bit ahead of the game amazon is, at least on the application side, behind alexa is something i use almost every day, but it's not great, right? so, how do they keep ahead of that game? and microsoft is probably doing as good of a job as any and they're playing at every level of that ecosystem and doing a pretty good job executing, especially with relationship to

openai >> you've been thoughtful about the glp-1 impact on society and the market share shifts and the capitalization shifts that we have seen play out, and i'm wondering -- we've made the sort of comparison between the optimism around glp-1s and the optimism around a.i., the impacts, so, are there trades that you see, i mean, way back when, in the early days, we were thinking, oh, people will eat less, they'll eat differently, buy new clothes, things like that are there trades like that that are spurred off of this a.i. industrial revenue that we're not -- i mean, when you mentioned free time, because people will have free time pause they are more productive >> that's right. >> i don't know. >> yeah, i mean, so -- there has been a theme, nestle announcing they are, you know, specific just to the glp-1 takers, new whole areas of food, i think there's going to be something in a.i., and it's going to be, what is your personal assistant do if your a.i. could tell what you time you have to leave for your

uber to catch your airplane and where you should eat that night and what's going to happen and how you should schedule your meeting, and what you should talk about on "fast money," all those things happen, that frees up a person or a half a person to do whatever, and i think the great thing is, no matter how much we thought the interthelt was going to make our lives incredibly simple, it just opens it up to do so many more things. so, i don't think any of us are any less busy than we were -- >> just different busy >> just going to be different busy hopefully a little bit more efficient and hopefully having a little bit more leisure time to go and do to an even better restaurant >> so, we're almost out of time, one company that you think will have a tremendous productivity boost as a result of a.i., not that they're in the a.i. business >> oh. i think you're going to see -- >> sector? >> sector probably would be software software will be super powered by a.i both on the productivity of programmers, by using tools so they can program more, and every single software company has had

a hiring deficit over the last 20 years that gap will be filled by a.i and the software will be that much better. return on investment, which is how most enterprises buy software, is going to be much greater because of the super power. and we'll see if that gets thrown up, or the existing players will be even stronger, if you think about companies like -- that are doing automation, like ui path today >> rick, thank you courtney, just real quick, outside of nvidia, what is your next place for a.i.? >> yeah, i think the big thing is going to benefit is we're going to have the elec electrification of everything. we need so much more energy. i think that's something that, you know, we want to absolutely explore that theme >> all right, coming up, ethereum on pace for its best week in more than a year, as the etf optimism builds. our very own crypto connoisseur, b.k., brian kelly, will dive in.

that's next. because you love - not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

welcome back to "fast money. ethereum soaring this week, as the s.e.c. deadline for a spot etf approval quickly approaches.

investors turning optimistic this week, sending the crypto soaring. ether pulling back a bit, but on pace for its best week in over a year for more on what the s.e.c. decision will mean for the space, let's turn to ether expert, b.k., brian kelly. is this a sell the news event? >> i don't think it's a sell the news event though, we probably got a lot of the initial kind of excitement out of the way ethereum's really been underperforming everybody else and everybody else left it for dead i think you had a short covering rally. in general, what this has done is changed the landscape for grip cr crypto in may, trump was asked a question about crypto. he said, if you want crypto, vote for trump that clip went viral, and actually changed things in washington we saw multiple votes over the last several days that were pro-crypto the president said he was going to veto those, and then kind of backed off so, i think there's been a sea change here in the regulatory

environment, and it's a welcome one from the industry. >> so, this is just in the past few weeks, you think -- >> since may 6th much more optimistic, and then, what we're seeing is the s.e.c. is starting to amend these s-1s. i don't know if the' this here yum etf gets approved today, next week, or the week after, it will get approved at some point in time, but also, the trade now is, who is next? right? >> exactly >> who is next because it -- you know, i was talking about it yesterday, now it's almost time for truly my etf, my blended etf of which, you know, which crypto asset it is, and so, who is next, though? >> i mean, i think you've got to think about sew lana as probably the next one, right? bit bit bitcoin,' this here yum and sew lana now, we have some clarity about what a security is and what isn't, and they'll be able to list a lot more crypto, which means a lot more trading for them so, i think they're the biggest beneficiaries from the change that's gone on >> so, b.k., really glad to have

you here big fan of your work i have a question about all of the ftx money, you know, talk about how much they're actually getting. >> yeah. >> do you think -- i don't know if it's $11 billion now, will that go back into crypto, where is it going to go? >> yeah, i do think -- most of that money is crypto native, right? it's crypto funds, people that are investing in this, so, i think most of that money will come back in what we've seen so far is a lot of private deals, a lot of private deals in solana that's happened, investors in -- the receiver in ftx was selling solana to investors. so, i think that what's going to happen is, it will just be recycled in. there may be some that leaks out to the side, but most of that money stays in the crypto ecosystem. >> so, you've lined solanf for a l long time. aside from a solana, what is your number one sort of moon shot coin trade -- >> oh. that's a great question. i think you can look at a couple

different ones you can look at some of the a.i. coins, something like a fetch a.i., that's been really well. and then what's been hot recently is what we call the professor coins. so, ones that have kind of been developed by professors at universities, avalanche is one of those i would look at some of those. they tend to trade with everybody else and once they get going, they tend to trade at a multiple of everything else. >> all right, well, thank you for that, b.k. good thing he's here coming up, fast movers starbucks riding a winning streak recently, butanhe c t gains continue we'll be right back.

a slow network is no network for business. that's why more choose comcast business. and now, we're introducing ultimate speed for business —our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to

triple the speeds... at no additional cost. it's ultimate speed for ultimate business. don't miss out on our fastest speed plans yet! switch to comcast business and get started for $49.99 a month. plus, ask how to get up to an $800 prepaid card. call today! welcome back to "fast money. more comments from jensen huang on the nvidia conference call. let's get back to kristina >> the first set of questions focused on air pockets that a lot of people are worried about, before the company launches its next generation chip in q already 3. jensen huang saying that won't be the case, since customers will easily transition from the h-100, which is already on the market, to h-200, currently being shipped this quarter, to the b-100, with the blackwell chips we keep talking about ramping in q-3 and that inn video should see a lot of blackwell revenue this year so that's the positive surprise.

as most analysts are expecting revenues to come in in 2025, q-1. so, that's being moved forward and why you saw the stock go up a little bit demand is so strong that supply is also expected to be con constrained. the nvidia ceo is ensuring that demand is going to be sustained. no air pockets and that's helping shares go from 4% at the beginning of the call to 6% >> thank you, kristina kristina partsinevelos we talked a lot in the past about setting expectations, why go out on a limb unless you really believe you can meet those expectations or beat them, and here we are, jensen huang, saying, the transition will not be a problem, and you'll see a lot of revenues from blackwell >> you have to believe him >> yeah. >> right >> and that he's going to beat them >> and he's going to beat them i am sort of stressed for him. at some point, things will crest, and then what is he going to do? how is going to manage the expectations >> he's been managing pretty well so far. >> yes, he has >> extraordinary air pockets

you've hat some air pockets in this stock this was a $750 stock a month ago. i mean, so -- you know, i think that's part of the reason why i actually think you have a fire coming in tomorrow. up next, final trades.

final trade time tim? >> nice to you have back, b.k. you want to buy gold miners. >> karen >> yes i don't love buying things up, but i really like dell off of this nvidia news, so, buy some call spreads >> courtney? >> also on the miners, going to go with freeport-mcmoran this is a trend that's going to stay >> so great to have b.k. back. not just to talk about bitcoin,

but a little bit of everything >> yeah, yes a lot of fun to be back thank you for having me back the show went so fast. >> really did. >> it's what we do >> flew by >> so, if we're talking about a.i., we're going to need a lot of energy, like courtney said, and i think probably the only way to g iisett y my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always something somewhere, and i promise you to help you find it. mad money starts now. >> hey, i'm cramer. welcome to mad money. welcome to cramer america. and i'm just trying to make a little money. my job is not just to entertain you, but teach me, so call me. and memo to the fed. be careful what you wish for because you may already be getting it. today we got the minutes

tv

The information normally reserved for the Wall Street trading floor, enabling viewers to make decisions that give them a chance to make money; the news with an angle that won't be seen until tomorrow's papers.

TOPIC FREQUENCY

Nvidia 30, Us 8, Jensen Huang 6, B.k. 5, Dell 4, Pfizer 4, Walmart 3, Brian Kelly 3, Blackwell 3, Amelia 3, China 3, Starbucks 3, Crypto 2, Goldman 2, Melissa Lee 2, Kristina Partsinevelos 2, Kristina 2, Karen 2, U.s. 2, Chris 2

Notes

This material may be protected by copyright law (Title 17 U.S. Code).

info Stream Only