do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes. >> welcome to power lunch, she's the -- i'm so -- is suing in open a.i.. musk says they -- got away from their mission from the use of a.i. from the coast of humanity, wow -- as well as anyone else will join us later on. ♪ ♪ ♪ [inaudible]

these stocks, but, they're higher than in that stack, once again leading away, beginning a record high. >> all right, shares of boeing, meanwhile, falling. but spirit aerosystems jumping right now. reports that glowing is in talks to buy that supply company. spirit is at the center of boeing fighter 737 max problems, as its factory makes the fuselage that experienced that door plug blowout earlier this year. >> it's pretty remarkable. what that deal. potentially, we'll begin with elon musk's lawsuit against sam altman and openai. musk was a cofounder of the company in 2015, but left the board in 2018, and has warned openai has abandoned its original mission. she posted us more on this story in today's tech check. the? >> leslie, that's right. the original mission of

benefiting humanity, but investors also might want to question what our musk's own motivations and what makes a timing all of this signal. is it another example of musk trying to distract from other issues in the musk universe? it is worth looking at. last year, a group of progressive tesla shareholders rowan open letter to the board, saying musk wasn't spending enough time and attention, focused on issues facing tesla. now, those issues only increase over the last year over tesla, down 20% this year. we also know that musk is trying to build his own a.i. company, xai, with a lot riding on it. he's using its flagship product, it's chatbot called grok, to sell subscriptions on the x platform, and said the autonomous driving and say i will be the most valuable part of tesla. it report on the post today says he is seeking to raise billions of dollars in the coming weeks for a private funding around four x a.i.. musk picking fights with other a.i. companies, products, leaders, while trying to race one himself is an interesting but maybe not all that surprising

dynamic. he's also been going after another jen a.i. product this week. that is google's gemini. glimmer points out that between february 20th and february 28th,, so over an eight-day period, musk posted or responded to posts about conspiracies around that launch, at least 155 times. so, remember his reasons for going after openai, sam altman. it is likely to have broader implications for the a.i. race at large. we are early in this shift, and the winners now may not be the winners in a few years. so, the discovery part of mosques lawsuit, ultimately could alter the landscape, whether show sees internal emails from sam altman many others are trying to search for. or, issues with the openai structure, which was also has been talked a lot about. there's a lot that could come out of here. >> if you are sitting in sam altman's seat right now, what is the biggest concern you might have with this lawsuit? is it the discovery, or doesn't have the potential to actually have a meaningful impact in

openai's progress? just as a not as a business, but as a technology that's out there? >> you know, it doesn't seem like sam altman is the kind of person to sweat a lot. remember, this is just one of many lawsuits. we're talking yesterday about the s.e.c. investigation. how it's subpoena-ing internal emails from that really tumultuous period back in november, when sam altman was asked to tesla ceo, the, and he was put back in. i guess maybe it's this whole idea of monetizing openai. it started as a non profit, but now is, you know, minority owned by microsoft and it is monetizing very, very quickly. especially ever since throughout the november drama so, will this ultimately her is civility? we know companies and large language models are moving so quickly in this period. it feels like the race is just starting. so, any kind of setback now could've broader implications

down the road. >> all right, david bosa with techcheck today. thank you very much. for more on the discussion, let's now bring in somebody and someone who closely followed musk over the past several years. to say the very least. walter isaacson is the author of the bestselling biography, elon musk. a cnbc contributor as well. he joins us now for his take on that developing situation. we asked the anti brought it up, walter, about this. the motivations for elon musk. i wonder, what you know of elon musk, you think the motivations really are? >> we go back to 2012 when all this started, and there's a long, complex, wonderful relationship between elon musk and sam altman. it's in the book, starting in 2012. when musk really becomes worried about the potential of a.i. getting out of control. -- who eventually sells his company, deepmind, to google, had come to visit musk at spacex and said this is an

existential threat. elon musk is somebody who takes these as extension threats seriously, and he sees himself as a superhero. so, we found openai with musk. with sam altman. they make it open source. they make it a non profit. then, of course, the following outcomes when sam altman decides it's no longer gonna be a non profit, and it's no longer gonna be open source. so, exactly a year ago, this month, i was supporting my book, and where is elon musk summoning sam altman, to what was then called twitter headquarters, saying let's go through the documents. how can you do? this at that point, musk said we're going to end up having to sue him. , so this began 12 years ago, and the lawsuit began a year ago. >> walters, just how far can we expect elon musk to take risks? first of, all monastery capital, then, psychological

emotional capital, assuming the spending is a lawsuit as extensive and as wide reaching estes or against what just openai amphenol minh, but a concert, if you will? >> no, if you read the lawsuit, which i, did it's not talking about money, it's not even asking for real huge damages. it's saying we've got to open it up like a founding document said you would. now, when they met a year ago, when musk told sultans come over to twitter headquarters and bring the founding documents of openai, altman said i'm not making money out of the. solomon said he wasn't, but he said if you want, you can have shares in this for profit. you can make money. musk turned it down. musk didn't want that. musk said we've got to keep that totally open, so that they can't run out of control. that is the remedy sought in this lawsuit. i don't know the lawsuit will actually go to trial, but he's going to push very hard that

you can't take a nonprofit open source something, which was opening i, and urn it into what they're doing now, which is something pretty much controlled by microsoft. >> walter, one thing that levinson's out in this newsletter today is it really wasn't a founding agreement. it was memorialized in counting articles of incorporation and in some written communications over a multi year period. so, it seems like there isn't that kind of traditional founding agreement that document, to hang on's head on here. >> no. you can read the lawsuit. there is the articles of incorporation. the emails that go back and forth. just that open, like anything elon musk does. this is not open and shut. but yeah, they didn't have a whole bunch of founding documents. and those are all quoted very extensively in the lawsuit. and a complex part of those

documents was when it becomes a g.i., part of the opening documents, but the original documents, but the microsoft ceo, said it no longer, but deal with microsoft no longer stands when it becomes a general intelligence. one of the things about this lawsuit is that musk is contending now that gpt-4 and beyond has really gotten into the era of not just artificial intelligence, but a resounding, rational, general intelligence. >> if it's all about api, the artificial general intelligence in the commercialization of it, how much of this battles, of conflict, this friction is about musk versus sam altman, as opposed to say, musk slash x slash spacex slash everything else versus a tech titan like microsoft and it's ownership interest in openai? >> i think it's largely dealing

with microsoft. what happens was a few years ago, t's became clear that instead of having a lot of a.i. systems, with open source, you can have two companies dominate google and microsoft. and as i said, this began when emma's houses decided to sell deepmind this company did that the elf look of to google. and musk tried to break it up. musk tries to raise money to stop that sail, and the second shoot drops which is what openai makes its arrangement with microsoft. i think this is about not allowing microsoft and google, these particularly mad at google right now, because she feels gemini has just shows how bad a i could become if it becomes political, i think it's mainly about stopping the two titans who control a i. >> fascinating.

well, maybe this will be the subject of your next book, walter. something to definitely keep an eye on. >> exactly. all in this book. it's all been happening to the past couple of years. >> yeah, i remember reading that chapter in your book, and i have no idea you on was so involved with openai until i read that portion. so, thank you,, walter much appreciated. >> thank you. >> well a lot of west coast money is pouring into a high tech start-ups, some deep pocketed investors in san francisco are getting involved in local politics, with the hopes of turning the city around. kate roomy has that story. evening. >> hey, so, san francisco's issues are no secret. some call it a doom loop, which is not good for business and tech community, it's getting especially involved in local elections. to try to fix things like crime and homelessness, among other issues. many have blamed progressive politics. make all of center francisco's controversial district attorney and school board officials was the tipping point for some. >> that push people to get involved, to pay more attention, start advocating for

make changes in san francisco. and we're not talking like, huge ideological changes. we're talking about the basics. >> the candidates for mayor, including incumbent -- and levi strauss eric daniel lori, are competing for the business communities backing, and then there was candidate, mark ferrell, is a venture capitalist. he's touting a tougher stance on crime and closer ties to business. he likens the police chief to a failing portfolio company ceo as an example of how he would handle problems here. >> there's a reason that technology industry was really founded in silicon valley and san francisco. we can capture that once again, but it's gonna take a mayor that's gonna be a leader on all the main issues of public safety and homelessness, but also a mayor that comes from the business sector that says, you know what? we're gonna use tax incentives to welcome businesses back. we will be aggressive, even with the business community, not against the business community. >> essentially, he said if there were a police chief that embodied the same issues as what's going on here, he says he would essentially fire them.

he talked about it as a portfolio company, which is a strong analogy for our audience. white board, meanwhile, of -- course arsenal to the biggest spenders out here, pouring over 1 million dollars each on san francisco ballot initiatives, guys. >> it seems like cake, if i were in their shoes, i, mean the detriment of san francisco could have an impact on their own home values, if their own office space, in which they're operating. it could have an impact there. so, as you talk to them, and you talk to feces all the time, how do you kind of think about the ones that say and want to fix it versus the wants to say, you know what? forget about it. i'm gonna move to texas. i can't deal with this anymore. >> leslie, that is a dynamic we've seen play out over the past few years. there's absolutely people who have the -- essay enough for san francisco, a matter here, but there are some who have quietly come back we'll people loudly left and said, you know, it's over. there are some venture catchable is to have returns, part of it is also a text

discussion. there's people who have left for florida and texas for other reasons, but the ones who have state are especially invested in needing to fix the city's issues, because we have among the highest taxis in the country. they are paying their share, and they want to see it reflected and things like the police force. they want clean streets. they want good education. so, it is a lot of the same things you hear you now from local san francisco residents,, so the polls reflect that. so, that business communities interest and a lot of ways are aligned with what average people in san francisco want. but things like tax credits, things like getting people back to the office and especially, the downtown area, especially important for business especially here and running a tech business. you want people back in the office, and that's been one of the biggest issues here with the lowest office occupancy in the country at this point. >> as a bay area san francisco bay area native, born and raised, k through 12, i hope

they get their stuff sorted out. caitlin, thank you very much. all right, coming up in the show, and why these issues are -- after closing internal controls, an issue. leaving many to call for [inaudible] we have the story. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening.

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in doing these deals, nycb past the regulatory threshold of 100 billion dollars, suggesting it to more rigorous stress testing and oversight. those plans are typically submitted in april. those stress test plans, meaning banks need to set aside the appropriate amount of reserves ahead of time in preparation for those stress tests. the fed just released its scenarios in the last week or so, for 2020 for testing. noting a severely adverse scenario that features a much higher starting level of interest rates, compared to previous years. no surprise there, given the trajectory of rates we've seen, and of course, from there, those interest rates decline or precipitously. the white one analysts relate it to me this morning's nyc be opted in for a queue to bolster its reserved and criticize much of his multi family loans and office loans, essentially to address the potential risk in the portfolio now, as opposed to a more phased in approach say, over the next year and a

half. by ripping off the band-aid, nycb revealed higher than expected losses. as a result, had to slash its dividend. now, there are some significant unknowns here. why did the chief risk officer and chief on executive department months ago, as it nycb was transforming into a bigger? banknote, nyc be enough those roles are filled today. but also, why did nycb discover weakness into convertible controls for loan review, and are there any other issues that may pop up as that review continues? so, lots of questions, and that uncertainty is a big part of why you're seeing that stock down 25% right now. our next guest has been avoiding financials, with the exception of jpmorgan. he says any bank that exposure to commercial real estate assets is going to feel that pain. he's finding opportunities in energy and tech beyond the magnificent 7. let's welcome tom he will look, ceo of strategy asset managers and a new face to power lunch. tom, thank you. we are being here so, you don't

think there's any financials to be had at these levels at least commercial writedown says get to parched in, despite some volatility we've seen in financials lately? >> thank you for having me so the first thing i'd like to say is we do to avoid financials and general, but we hold jpmorgan. we avoid companies with a lot of leverage, and right, now you're seeing companies like new your community bank commercial bank have exposure in the real estate sector. they could have commercial, that could have industrial, because of multi family, but that's a stress. that's a boisterous. so, some of these regional banks are experiencing that right now. they are over leveraged. >> obviously, we have seen everybody is having a pretty solid week. from a macro standpoint, we've had a hawkish re-pricing of fed pivot expectations. do you think there is still a gap between what the market is focused on and what the fed

will do, and does that give you any pause as you are looking to make more investments? >> you know, there's no -- out there right now. we've been talking to our clients about being position for the next generation bull market that could possibly go on for ten years plus how we're positioning our clients is putting them in company set a strong balance sheets, great cash flow, that aren't leveraged for example, if we look forward at the technology and that way i revolution taking place right now, there is an incredible opportunity that's going across the board to multiple sectors, and we can follow up on that. >> in terms of the kind of a ice case, i spoke with jpmorgan ceo, jamie dimon, earlier this week. he said a.i. is not height. it's real. i know you're focused on this next phase, the monetization face of the a.i. boom. that has certainly been met with forever so far. how confident are you in the ability of this a.i.

driven momentum to truly broaden out across the broader market? >> well, we're seeing it in not only the technology sector, what we're seeing it in a, for example, intuitive surgical. that's one of the companies we own in our growth portfolios, the taker system is isrg. if you're not familiar with what intuitive does, they've created the da vinci robot to assist people with surgical procedures that are very complicated. so, they are a global leader in robotic surgery, and the health care industries taking advantage of big integration with a.i. and big data. >> all right, so, intuitive surgical, i could see the a.i. link here. one of the other things we talk about often is the site with regard to data centers and everything else. but you've got to pick out where that's not necessarily data center related, but it's almost a derivative play on data centers, with regard to utilities. take us through that surface. >> well, thank you. energy is, as boring as it

sounds, could be one of the most exciting things we have in front of us. not only from as energy independence standpoint, but from a national security standpoint. we've been talking to our clients for over a year about the importance of energy in the portfolio, constellation energy, take your system cg, his held inside of our worldwide equity portfolio. it's gonna be a major theme to this next generation business cycle, and that data storage facilities. that are sucking up a lot of power right now in the electrical grid >> given that positioning, does it matter who is in the white house, as they think about things like energy policy, and technology investments? are you changing your portfolio at all based on the election in november? >> right now, nuclear has bipartisan support between the democrats and the republicans. that's a positive. i believe that right now, we're seeing the importance of energy

independence, or the resurgence of energy independence, we need multiple sources of energy. we need nuclear. we need hydrogen. we need nuclear, for example. all these areas are taking shape right in front of us, and if you look at cdc, which is constellation energy, they operate the largest nuclear power plants in the united states, and they generate carbon free electricity for customers in 48 states. this is something that is important, because with solar and wind go off line, they don't generate power. when we have data centers, for example, in the state of virginia, they have 300 data centers per, in their state, there is a lot of energy that gets consumed bear. nuclear power could be that clean, safe energy for them. >> that's interesting. a lot of people don't realize that the best performing s&p 500 stock in the month of february was a i related, but not nvidia. it was actually constellation

energy. definitely an interesting point there. tom you look, thank you very much. we'll see you soon, search. >> it was interesting that you had walter isaacson on before, but i didn't get to -- now, now, you guys finished a lot. >> oh, great. you had walter isaacson on before, that at tulane, when i went to school so, shout out to the current rate. >> here you go. thank you very much. see you soon. well, speaking of energy, -- not pulling the plug yet. [inaudible] coming up. [disconcerting stomach gurgle] not again. maybe i should get this looked at? [suggestive stomach gurgle] zocdoc? [talkative stomach gurgle] you're right, i bet they deal with this all the time. dr. finley really puts you at ease. let's do it!

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>> welcome back to power lunch. stocks gained in that the secretary new record, also, going into bonds, setting those lower. our -- has it on reports. eric? >> yes, leslie. now, it's all about the 10:00 eastern data. let's go through the data to see what propel yields aggressively to the downside, now, constructions fence weaknesses of the october, as you see on your chart. i am manufacturing, the headline number, 16 consecutive months under 50 in contraction vote. if you look at the prices paid

component, listen it's lost down just a little bit but, it was the second reading above 50. it spreads my head a bit. however, i think the market has it right, because if you take a longer view on prices paid, you can see that even though we've moved up a bit, we are well past the big double hump there, and we're basically sideways with respect to pre-covid levels. finally, here is how the market react. you see two -- tense there, they drop dramatically at 10:00 eastern, at a yield till 53. you see your down tie onto here, we are down 16, 1 to 6 basis points on the weak, and the code yesterday on the same level quarter. we see 4:18, they're both down seven basis points, but maybe the bigger story continues to be treasure yields today, much more aggressively, taking some inversion out of the yield

curve. dom, back to you. >> thank you very much, rick santelli, with the bond report there. let's get over to -- four msnbc. have a lot. they >> say they're, donna. new jersey, this is -- today on seven counts, convicted of bribing new jersey senator menendez. we say -- amateurs program was accused of giving the senators wi-fi mercedes-benz, and exchange for and then this intervening with criminal insurance fraud investigation. and then descent as wife have pleaded not guilty in the case. the u.s. plans to follow jordan's footsteps an airdrop humanitarian aid into gaza, as soon as this weekend. president biden just announced the efforts comes days after reports of israeli troops firing into crowds of people in line to receive flu and other supplies from and eight convoy. -- pulling two hours to last- minute bid to boost foreign out and its parliamentary. -- just 20% of iranians cast

ballots many iranians shared plans to boycott today's vote to send a message of descent to the regime. this is the first major election since the resignation protest for women's rights. back in 2022. don, over to you. >> i'll pick this up from here. thank you. after the break, is bitcoin and etfs a major concern? [inaudible] ♪ ♪ ♪ we'll explain why, when we return. i could use a little help. yeah, there's a lot of risk out there. huh ♪♪

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welcome back to power lunch. we've heard a lot about the return of bitcoin mania recently, but ether is soaring just as much, up nearly 50% so far this year. cnbc's tech reporter mackenzie slow substantial snow from the youth denver conference, or 20,000 people are estimated to have come in for one of the biggest crystal conferences of the year. matt, what are they talking about? >> hey, dame. so, what people are talking about, what is being built on top of if iran? we're also looking at trading

bonds. he got caught and future volumes from bitcoin anti through that -- crypto funds are exceedingly people in 2021 according to the effect. now, part of the system with a major upgrade coming with ethereum in a few weeks. it's expected to slash transaction costs by 90%, vastly improve from the bill to be. the companies are built on top of the blockchain. there's also a lot of optimism that a spot it there etf could be next. i sat down with s.e.c. commissioner history. she is widely considered to be cryptos not staunchest ally among u.s. regulators. she said it should continue recourse intervening to force the agency's hand on the spot. bitcoin atf today, here's more of what you had to say. >> that rule is not to necessarily get comfortable with crypto, or rules to say hey, our job is to figure out where the securities laws are implicated, to try to help people get disclosure where they're are securities, and let

people make their own decisions. it's not our job to tell people crypto good, crypto bad. let's let the market decide. >> dame, it's really about building this -- ecosystem. many of them see the s.e.c. as a chief rival, which is why those comments from the commissioner go along way in the crowd like this. >> all right. mckenzie to call up there with the latest on crypto out of denver, thank you very much we'll see you later. on pete growing etfs have held a cryptocurrency it back to record. high-speed bitcoin miners which, are used to be the alternative in terms of investments, haven't during that surge of much. for, instance we'll pick going to suppose to 50% so far this year, right platforms is slightly lower on the year. so, our spot bitcoin etfs competing with the stop for the investment dollars. your flows. let's bring in jason, the ceo of ryan platforms, which owns a larger scale in bitcoin mining facility in rockdale, texas, among other assets. jason, thank you very much for

being here. i can see just like that one interesting kind of dynamic there with regards to the current state with regulators versus the community and cryptocurrency. do you feel so the prices of bitcoin and others are now attractive enough for folks like you and everyone else will feel more comfortable with broader adoption? >> yeah, i think the introduction of the atf is huge for the credibility of bitcoin. it's brings and on ramp that brings more money into the space that might have been sidelined at the time. . it is a positive signal for regulators. i think there's more work to be done. i think there are a number of bills in congress assemblage market structure that i think better lay out the rules of the road. that could bring even more investor coverage and interest. that's something we're very interested in. we are supportive of, two, that further clarity for the space. >> do you feel as though the bitcoin atf's out there half acted as a net positive force, or are they competing with the

likes of bitcoin itself, the underlying, and by extension, what does that do for the economics of mining operations like yours? >> i think the bitcoin etfs have been super positive for the bitcoin mining space. the short term volatility notwithstanding, the fact is that this tool is bringing more money into bitcoin, and that is driving the price up. that is the thing that we mind that is the commodity we are focused on, so, that's always great for us. the fact is in seven weeks since the atf has been approved, these etfs have thought of 350,000 in bitcoin, and right now, we're only mining and them. and that work as a whole only released is 900 new bitcoin per day. that's gonna cut in half, and 450 bitcoin per day, and april of this year, so, supplies becoming constraint. new supplies become constraint, and more interest and money is going to the market. that's great for us. as far as our stocks go, we have seen an increase in dollar based volume in our stocks as a result of the atf.

so, i think we have had and come up here, and rising number of ambitious gross plans that were scaling up our business with. so, as the price of bitcoin appreciates, we should appreciate from that in an outsized way. >> how do you plan to do that? you know, given as he mentioned, and -- having effect we around the corner. >> but the growth plans, we are underway right now, riots is positioned to exit 2024 mining more bitcoin per day than it is right now despite the having occurring. we are scaling up our operations by almost a factor of three and we are implementing and ongoing power strategy that helps decrease our energy costs and gives us in the trees leading of calls production. . are direct cost per bitcoin in 2023 was just about 7500 but going. now, that increases with the having, but the price appreciating at a faster rate, we think we are in a very good spot alongside everything for executing on this year. >> jason, we often talk about

mining operations in the context of oil, sun oil prices rise, people tend to drill more, right? they go after it a little bit more. with bitcoin, there's a lot of shattered the states about making it possible correction it's gone away in a very short period of time. and at one point cost per going, we have to ratchet back on those floors with prices upcoming teased you need to stay profitable? >> we have the price action this year is going to impact, executing on a growth plan. we paid for, these are cosponsor fronted, and their execution are rolling out right now. the interesting thing about bitcoin baked mining economics network is that the minors will enter and lead the space based on the price. so, when the price is decreasing, where the economics are constrained by something like me having, a lot of the less efficient players will leave, and that increases the margin for the love more efficient operators like ryan, who remain.

so, what happens in the short term is not as important to us. our long term commitment and dedication to bitcoin was altering or boosted substantially over the last several years. and because for longer believe a bit coin, we're gonna continue the stick of scaling up the efficiency we have. >> all right, jason last, thank you for being here. appreciate it. >> thank you for having me. >> still ahead, pulling the plug. shares of ♪ ♪ ♪ [inaudible] 8%. [inaudible]

this is realtime insights. i'm here with math barrington. members emerging technologies leader, matt, i was taking a look at some new research. 90% of employees have at least experimented with a.i. at work. given that number, what are the biggest hurdles companies are going to be facing? >> first, whether you realize it or not, your employees are using these capabilities that were today. we're helping our clients navigate from this experimentation phase into enterprise adoption at scale, and doing so in such a way that protects their key data and proprietary information. >> how are you helping the make that shift? >> first and foremost, we're helping them understand the heat technology requirements so they can deploy gen a.i. in a very safe and secure way. that's fit for purpose. we're also helping them balance a parallel effort focused on value creation and growth, and key optimization targets. in addition, we're also doing this for so. >> so, what are you doing at ey that's working that you're sharing with your clients? >> for a global organization. we have 400,000 employees.

so, it's been complex to do this. we've been on a journey for a while now to deploy gen a.i. across our employee base. use it to augment the way with the work. >> one good example is our developer capability. we've generated, with a.i., and million lines of new source code, 40% of which have made it into production. so, we're getting a massive uplift in our productivity and being r times in markets. >> that, really appreciate you joining us. thank you so much. >> thank you. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over!

too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) welcome back to power lunch. crude oil rising above $80 a barrel for the first time since november. pippa stevens here with that details. >> you may finally be breaking out of this range we've engine for so many must now, first time up $80 a september with math, saying that the 80 dollar level has been extremely important resistance. double t i have stayed above that level and is very bullish for crude energy stocks going forward. maybe today, some momentum with

geopolitical risks still they're not totally priced into the price of the wta here, and also, all eyes right now are on the possible extension of those opec cuts and 2.2 million barrels per day that was a decision outside of the opec group entirely. so, each individual country is expected to pronounce an extension of those cuts in this coming week, likely into the second quarter. then, june, this is the next opec plus ministerial meeting, so, that's what we'll hear an update on what the protection plans are for the second half of the year. man quickly, plug power on another rollercoaster crying today as always, shares are in the green right now earlier tonight, they were down more than 10%. that company issued its ten k last night, it removes that going concern language, so, that, of course, is a positive. however, that was thanks to a 302 million dollar raised in equity sales. after earlier this year, you're shaking your head, you announce up to one billion at the market offering. not necessarily what you want to hear us and then fester.

but some momentum there. looking forward. >> well, there's certainly a bit of dilution happening all right, pippa stevens, thank you so much for the update on plug power. so ahead on the show, ♪ ♪ ♪ [inaudible] [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out]

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welcome back to power lunch. let's get over to kristina partsinevelos for marketplace and what's happening with nvidia. kristina. >> shares over, what? three and a half percent. driven by several factors. first a big private price increase going from 5:35 to $900. they think nvidia shares have a 14% upside not just because of their a.i. gpu chip but because of nvidia's entire ecosystem which includes software, ethernet storage, the list continues. and the recent increase in inferencing demand which could

keep nvidia relevant in the years to come. other drivers for nvidia stock uptake came from earnings out last night. dell management saying they saw five corridors of backlog for their a.i. servers, which means more orders from gpus from nvidia, as well as amd. a little bit of a different story with a top time lifted by deterioration and networking along with nvidia gpus supply constraints. in other words, it is struggling to get their hands on nvidia chips because they are in such hot demand. that is a positive for nvidia shares. two trillion-dollar market cap right now. >> potentially a negative four h p e which we will get into in just a second. >> positive for dell. it's all mixed up right now. >> it is all connected. >> very complex. kristina, thank you. time for today's three-stock lunch with our trades is quinn t troll founder and president of joule financial. we just talked about it, hewlett packard enterprise. kristina just mentioned. quinn, what is your trade on hp? >> wesley, thanks for having

me. h p e, you've got to sell it here. it is just not for me. a mixed top, beat the bottom they have some positive comments helping the stock on the a.i. infrastructure in the future but it just seems like, maybe, they missed it here. i think the street is taking notice. i think they are just not gonna be a winner here. it is just not for me even though i got low single digit multiples, the growth is not great. there is no rush whatsoever, i think we need a real stellar quarter to turn things around. it is not a, biden the. not >> quinn, let's talk about the other stock we just mentioned, delta acknowledge. e shares of this company are soaring after rising to mind, what else? a.i. servers. quinn, what is the trade on dell? they kind to do the same thing. >> they do the same thing, dame, but they are executing and they are not talking about in the future there talk about right now. this is a good glimpse into how

not efficient markets are. stock is up 30% before it came on to the show. clearly this was not priced. in dallas seeing incredible server demands from the a.i. space. again, it is more about the guidance. 40% backlog increase over q3. the increase topline to 95 billion. full year, seven and a half. which means we are talking about 16 times forward earnings if they were to hit that. that is a fantastic fundamental picture. 30% not going to chase it. if you are lucky enough to own the stock coming in today, obviously you want to hold this. but this goes right at the top of my list. anytime we get a pullback over the next quarter and they start selling this name, i would pick up shares of dell. >> up 31 and a half percent right now. finally boeing. pivoting a little bit. the company in talks to buy trouble supplier spirit aerosystems, the same company

it's fought off two decades ago. shares of boeing down today. quinn, what is your trade on boeing and how incumbent on it is this deal getting done, or some kind of deal getting done? >> it is irrelevant to me. a troubled company buying a troubled company does not make a good company, in my opinion. boeing is an unbelievable brand. and unbelievable company, per se. but the headline risk right now for boeing is just too great for me. i've never been a fan of this company. they have a tremendous amount of debt. again, just when you start getting comfortable about orders. the dreamliner being delivered. there is something that comes out that just lacks the stop. fundamentally way too much debt. negative book value. not attractive to us. just because they are going to buy a supplier that, potentially, is troubled as

well, that does not interest me at all. we do not have a position. we would not take a position on the name. quite honestly i will be a seller of my own. it >> all right, quaint hr with the trade there for h b, tao, and boeing. think so much, have a nice weekend. we will see you soon. coming up on the show, the highly anticipated dune part two hits theaters today. timothy shiloh may and sunday of the enough to say the faltering box office? we will discuss when power lunch returns after the short break. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like...

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all right. we have a minute 45 left in the show. several more stories we want to get you right now. let's get right to. it shares of sweet green scoring today, up 27% after the salad chain reported healthy, get it, how sneaky one revenues. ceo said the brand will continue to focus on menu innovation, great western operation, and the infinite kitchen to capture demand and drive traffic. this is a demographic play for

me. only because i think i have had it once or twice. it is good, it is pricey, there will be a lot more focus on healthy eating. >> no surge pricing. don't need it, apparently. dune part two hits theaters today and is expected to give a much needed boost to the box office. warner brothers is expecting a conservative 65 million debut for the sequel. there have not been any major blockbuster releases so far in 2024. domestic box office is down 18% compared this time last year. dom, are you seeing this movie this weekend? >> i don't know if i can see it's moving but i will see this movie. i am very much about the blockbusters. this one, by the way, i saw the original series. i am not one of those power followers. i know a lot of folks who are die hard dune fans. >> june hard. >> the cdc says people who test positive for covid noting you need to isolate for five days.

the new guidance also patches flew another respiratory illnesses. stay home when you are sick. return to school or work once you are feeling better and you have been without fever for 24 hours. a big deal especially for schools, leslie. >> and daycare parents. >> which we both are, yes. >> thank you very much for watching power lunch. >> closing bell starts right now. welcome to closing bell. i am mike-century in first got robin. or this make or break hour begins with same bull different month. a remarkably persistent stock market reality extends into march carried by familiar mix of a.i. excitement and what seems to be goldilocks economic conditions. the major index is looking to further new highs -- eight tenths of 1%. solidly above that 5100 market. it is now up about 25% from the october -- about 1000 points from that late october. low the equal weighted s&p