you can see the obvious reaction because the ramifications that it may have for the future of that deal. we'll follow that. we'll see you on "closing bell." give me a name. >> sherwin williams. >> velero. >> that does it for us. s&p trying to extend that record high. see you on "closing bell." "the exchange" is next. ♪ ♪ welcome to "the exchange," everybody. i am brian sullivan, in for kelly once again. stocks largely unable to keep yesterday's big momentum going. the dow, the only major average in the grown. meantime, yields, they're on the rise ahead of tomorrow's inflation and retail sales data. prices on the move. oil any way. higher as ukraine blows up two russian refineries. energy security is back, but it will come with costs, and dan is here. plus, the tiktok on tiktok. the house passing a bill to force a sale or even ban of

tiktok. the senate will take up the measure next. we'll get to all that and more, across the hour. but we begin with the day's market action. as we said, we're not seeing any major follow through. the dow up 134. we're seeing the s&p unchanged because we want to be generous on a wednesday. the nasdaq is down about 0.3 of 1%. the down is in the green. all eyes on boeing. that's been, i guess, in a bad way. the stkock of the neyear, nvidi the inverse of nvidia, i suppose. the s&p 500 finishing at yet another record high yesterday. if you are counting at home, that makes 17 record highs in 2024. the index on pace for the most record closes in a first quarter since all the way back in 1998. can we call that a random but

interesting? who knows? inflation proving stick than markets, and perhaps jay powell, they thought, given the pivot back in november, so will the fed keep a lid on that bullish momentum for the rest to have year? joining me now to discuss are my two guests. i can't think of two better people to have on. good to see you both in the daylight hours. sree, i'm going to start with you. as much as anybody out there, you have been correct in anticipating where the yield also go, what the fed is going to do. let me ask you this, is there a chance that we will see exactly zero rate cuts this year? >> good to be with you again, brian. always a pleasure to be with you. i think that there is a chance we may not have a big cut, not even june, but the rest of the year, unless something else

happens. it is not because of inflation coming down, but with interest rates having stayed so high for so long, something breaks in the system. you have onanother major bankin crisis. as we all know, when that happens, the federal reserve gives up on its inflation mandate and employment mandate and becomes a cheerleader for the stock market. that requires it to ease, then i see easing take place. >> margaret, would you agree? there's a always a chance in everything, but is there a non -- you know, 1% chance that we will get maybe one or even zero rate cuts this year? how do you see it? >> i think it's possible. the feeling has gone from three cuts to two cuts to now uncertainty that maybe in fact we might not have any. i think the fed's kind of in a box, because the inflation rate

has not come down according to playbook, and so i think they want to be careful by keeping rates too high and hurting the economy. but on the other hand, with inflation not doing what they thought it should do, i think they're probably lucky to cut. maybe they would like to keep rates here, so if there is a disaster, they can come to the rescue and cut rates and save us. >> yeah. and shree, we got the cpi. there's a lot of dithering about inflation, how much is just housing, and nothing else? i get that. what are you looking at? cpi is a big deal, ppi is a big deal. things like the pce and all these wonky things. what are the one or two most important things to you? >> a couple of important things. number one, brian, we have had a massive expansion in the fed's balance sheet, keeping fed rates

a lot longer than necessary. so when you do that, inflation is going to break out. what is different may be whether it breaks out in goods and services -- [ no audio ] >> all right. >> more than leakly, that will happen, that inflation will go away. >> you froze there for a second. i got a little jumpy, but guys, sit tight. we're going to come back to you. we have to go to rick santelli in chicago, who gave yesterday's ten-year auction a c minus. we have 30 years today. how are you grade thing one? >> what a day a difference makes. in 20 years, we have a 29 year, 11-month security, the grade, sully, a minus. the yield at 22 billion offering by the treasury and the longest

maturity that we offer. 4.331. it was a lower yield, which equaled higher price. the government is the seller. that's a good thing. if we look at the dynamics, other than pricing, which was a major positive for the grade, 2.47 bid to cover, that's the best seince june of last year. indirects, above average at 69.3. the dealers take down 13.9 on top of the 14% ten auction average. but this was a very, very good auction. and it really is a bit counterintuitive. we've had a lot of very iffy auctions. today, as yields rise and prices fall, the community of investors stepped up, and maybe it was for exactly that reason, because, of course, the way prices have been moving a bit lower, maybe they took advantage of that, but in

the grand skcheme of things, sully, yields really are on the rise. and yesterday's cpi, all i can say is i don't know what planet so many of the analysts and economists were coming from, talking about how it really didn't seem like it was very warm. i think the notion of inflation coming down to meet their target isn't going to happen. maybe their preferred inflation gauge, the pce, those are much lower than cpi. we'll see how ppi and the wholesale level runs tomorrow. no matter how you slice it, the argument that inflation is falling, well, there's a lot of debate as to how much more it needs to fall versus how much more it will fall. and both those is a timeline issue with respect to how the fed and the committee and the dot plots are going to move next week when they have all the data in hand. back to you, sully. >> what was the hottest thing about it? how much is housing? there's been people that have

said it's all house, nothing else. >> yeah, the whole shelter thing and cpi, there definitely is an issue there. and many of the "experts" say it's coming down but coming down slowly but in terms of slowly. what i would say is yes, i understand that, but there's a lot of other sticky aspects within the entire process of the u.s. economy. i think the biggest plus that the federal reserve has with regard to looking for less inflation is the deglobalization that seems to be going on and some of the forces like what's happening in china. they could put on a good face, they can say they're looking for 5% growth. but many of us don't believe those numbers, those numbers are probably a little juicy. i think china in particular, many economies that aren't doing as well as the u.s., might be exporting us lower prices. but in the grand scheme of things, the biggest risk of inflation is government policy, spending directly, indirectly,

and, of course, debt and deficits are going to continue to matter. >> rick santelli, thank you very much. let's go back to my guests. margy, you just heard rick, a solid auction. rates are going up. what does that mean for equities? if rates stay here or move higher, is that bad news for stocks? >> i think rates at this level are just back ground noise for equities. equities are going to be better. as far as the 30-year doing surprisingly well, i think it's really the fact that out there in the world, in spite of concerns about higher interest rates on the buy said, there's a tremendous lack of long duration, long maturity, high quality bonds. so it may seem the opposite of what we expect. but many investors would like to have that long 30-year bond in their portfolio, absolute safe quality. and that's why you see the rest of the curve being a little

higher than you would think, and the 30-year doing very well, because of that supply dynamic in that case. >> yeah, sri, would you agree with all that? >> i would be a bit -- i would say it differently, brian. i would say today what you have is a wbifurcated market. holders don't seriously believe the fed is going to be tough on them. they expect interest rates to be cut. they are preparing for it. this is an audition to all the benefits they get for productive increases due to ai and related developments. the bond holders, on the other hand, are much more circumspect. they are worried, which is why you have yields gently moving up, even as the auction was moving up. this all reminds me of the final quarter of 2007, when the s&p 500 index hit a record high in october of 2007, but the bond

market was reflecting dangerous signals. we saw that the bond market was correct in 2008. equities were wrong. >> yeah. well, that's because the bond market, the credit people say they're smarter than the equity people. it's a wednesday, getting through the week here, 70 degrees, beautiful day here in new york city in mid march. leave us with some optimism. give us one or two names that will work. >> i think broadcom is going to be a very good performer. it's trading at a reasonable level, considering the growth it will have. it has a -- they're in the right part of the semiconductor markets, and they have a mystery of making value added acquisitions. up like a lot of tech stocks, they have a history of rising dividend yield. priced reasonably for the growth, so that's a great stock. in the health care space, which is coming a little bit more into

favor, i think mckesen will be an outperformer. it's a director of products to the health care industry to biotech pharma. and we had a little bit of a lull in funding, so we haven't had quite the demand for some of those products. i think with the pressure on improving supply lines, improving their operations and their incredible amount of data that they have information that they have for the customers, so they'll continue to be an outperformer. >> great to have you both on "the exchange." thank you very much. >> thank you, friend. >> have a great day. in the meantime, we have the latest read on the housing market with mortgage applications as well as refi data. diana, is anybody buying a home? s more people than we think. rates swung slightly lower last week, feeling a significant jump in mortgage demand. the average dropped to 6.84% from 7.02%, crossing that 7%

line, that's with 20% down. that after the monthly employment report showed a big downward revision. as a result, applications to refinance a home loan, which are most sensitive to those weekly rate moves, rose 12% for the week. now, most of this would likely be people who took out a mortgage in the last year or two when rates moved up, so not a lot of people. applications for a mortgage to purchase a home rose 5% for the week, but still 11% than a year ago. home buyers are up against more than high interest rates, looking at sky-high home prices and a lean supply for houses for sale. more inventory is coming onto the market, but it's not enough to meet the demand, especially for the smaller starter homes. mortgage rates moved higher yesterday after the cp ireport came in hotter than expected. but they didn't have the major jump that we have seen on similar reports than in the past, likely because the market expects some rate cuts later this year.

brian? >> you just heard, diana, maybe we don't get any rate cuts. >> then you better tell the mortgage market that. they are expecting rates should come down. not by a lot but a little. >> diana, thank you very much. by the way, home builder lennar hitting an all-time high, up 70% over the past year. and the aforeseened diana olig has an executive interview with the executive chair stewart miller tonight on "fast money" at 5:00 p.m. eastern. coming up, natural gas prices have collapsed from their recent high. but the next guest says you can't have an energy transition without energy security. the great dan yergen will join us with his prediction. congress taking the first step toward a tiktok ban. now the bill's fate is in the hands of the senate and

president. we'll hear from one cybersecurity expert who says the real risk goes far beyond social media. you'll want to hear why. 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. (♪♪) my name is oluseyi get iphone 15 pro on us. and some of my favorite moments throughout my life are watching sports with my dad. now, i work at comcast as part of the team that created our ai highlights technology, which uses ai to detect the major plays in a sports game.

giving millions of fans, like my dad and me, new ways of catching up on their favorite sport. join over five million people who found golo, frustrated by your weight and health? the natural weight-loss solution. get your free golo for life plan and learn the facts about willpower, metabolism, and lasting weight-loss without starvation dieting. get the golo for life plan delivered right to your door. no credit card is required. plus, get free instant access to mygolo.com for support with no monthly fees. never pay for an online diet site again. head to golo.com. that's g-o-l-o .com. let's get a quick check on the mafgrkets. the dow is in the green. s&p 500 and nasdaq are in the

red, as well. following that 30-year auction. elsewhere, opec weighing in on climate policy today, saying "a strong focus on oil security will be critical throughout the clean energy transition." something your next guest has been very vocal about, and says that security has already returned. but more needs to be done. joining us now is mr. dan yergin, vice chairman of s&p global. dan, i think you have a conference coming up, like, all of next week. i heard that i might be there. i cannot wait. >> there's a rumor, brian, that you will be here. frankly, i can't imagine you not being here. so we welcome you warmly. >> as long as united and boeing get me there safely, i will be there, dan yergin. our guest lineup is off the hook. best ever. so looking forward to next monday and tuesday. energy security is one of the

macro themes of the conference this year, and -- the energy security can mean different things to different people. what is energy security globally and domesticicly to dan yergin? >> it means reliable oil and supplies. it applies to oil, gas and electricity. we see it across the board. i think during the pandemic, prices plummeted as you know, demand went on, and security fell off the table. but it's back on the table, not only because of the ukraine war and the red sea, but also because of what inflation, what supply chain disruptions have done. and it's a big issue, a very big issue for the developing world, as well as the developed world. >> yeah, you know, opec chiming in on it today, as well, talking about a world without opec and energy security, and they're even talking about the energy

transition. but of course, they're opec, so they will be more bullish than most, probably than all, on oil and gas down the line. are you surprised that opec is chiming in on this issue? >> not surprised. it's striking to see that the gap between opec and the international energy agency on their estimates of demand growth, and i think obviously it reflects the different points of view between those two organizations. but i think, you know, energy security, you travel around the world, the japanese are really concerned about it. and it's really triking. electricity, there's germany, very committed to the energy transition, announcing that it's going to spend $17 billion to build natural gas, fired electric generating plants in order not to run out of electricity. britain has announced the same thing, and i think, brian, when you get here, you'll find one of the big things this year is how do we have enough electricity to

meet the demands of ai, digital, data centers and so forth. that wasn't on the agenda two or three years ago. but now energy security is a reliability of the electric system, as well. >> when i look at the numbers, and the grid operator, this is not me, the grid operator for the mid-atlantic states, 13 states going as far west as ohio and illinois, has warned that in a couple years, there may not be enough electricity to power everything. i could easily come one a scenario, especially if interest rates remain high, big projects get canceled, that there isn't enough power, even here in the united states. do you see it that way? >> i think that anxiety is there. one of the big grid operators, their estimate for demand for going forward is twice what it was last year. and i think it's the recognition that this electrification is really going to put pressure on

the system. then you get into the perm janisian issues, whether it's wind or natural gas or anything. so this really is a -- you know, you can feel the alarm there. the question is, will we respond quickly enough, or will we run into some crunches as other countries have? i'm looking at germany and england, both of which are saying we better build some natural gas plants. i think we'll see the samething as wind and solar continue to expand. >> listen, obviously nobody foresaw the destruction of the nord stream two, so germany and much of europe having to do a big u-turn in part because of the war, but you've probably seen, i was over there with cnbc, and thanks to the team for sending me over there. we talked about this for going on two years or so. i've talked to people, dan, as i'm sure you probably have too, who have talked to people in the

german administration. they are starting to whisper that there may be a need to rebuild and go back to the nordstream pipeline and inexpensive russian gas. do you see that even as a small possibility? >> i think it will be tough to do that as long as putin is there and his radio broad cast yesterday and today, said he trusts no one. so people will say, we don't trust putin. so it would have to be a post-putin administration. the other thing people talk about cheap russian gas. it was never cheap, but it was always competitive natural gas. but i think that concern about, you know, maintaining the -- meeting the energy needs is really there. by the way, if it were not for u.s. lng, putin could have succeeded in his goal of breaking the coalition supporting ukraine by cutting off the gas. really, the way i see it today, u.s. lng is now part of the

arsenal of nato. so it shows the geopolitical significance of the energy revolution in the united states. >> dan, we're going to save some for next week. we'll speak together as well. we'll host "last call" from the conference. the guest lineup is amazing. we'll see you on sunday in houston, dan. >> look forward to seeing you. bye-bye. coming up, dan just mentioned electricity demand spiking, thanks to ai. we'll speak with a liner about what their plans are to increase supply. but first, intel in trouble. the pentagon reportedly pulling out of a plan to spend billions on a chip grant for the company. we'll have more on this breaking development as intel falls more than 3%. as we head to break, here are a look at some of the names hitting new all-time highs. marathon petroleum, dow inc, we'll speak to their ceo. nrg energy, the biggest cole producer in america and more.

stick around. ♪concerns of getting screened faded away♪ ♪to my astonishment.♪ ♪my doc gave me a script i got it done without a delay.♪ ♪i screened with cologuard and did it my way.♪ cologuard is a one-of-a-kind way to screen for colon cancer that's effective and non-invasive. it's for people 45 plus at average risk, not high risk. false positive and negative results may occur. ask your provider for cologuard. ♪i did it my way!♪ we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows

coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry. even a term policy. for cash, or a combination of cash and coverage, with no future premiums. someone needs to tell them, that they're sitting on a goldmine, and you have no idea! hey, guys! you're sitting on a goldmine! come on, guys! do you hear that? i don't hear anything anymore. find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

good afternoon. welcome back to "the exchange." i'm tyler mathisen with your news update. in one of the biggest strikes on russia's energy sector in

months, ukraine attacked russian oil infrastructure with drones, causing a fire at a large refinery. ukraine has been upping its attack on russia's energy infrastructure in recent months in an attempt to cripple its key source of income. the strike comes just as eu nations today agreed to $5 billion in additional military aid for ukraine. don lemon is out now at x, the former cnn anchor signed a content partnership but said today after taping his first episode of the don lemon show with an interview of elon musk, that musk cancelled the partnership. lemon said future shows will appear on youtube. musk has yet to respond. i wonder what went on there? and 20 tons of seized drugs were destroyed in peru. the country's president says they were seized by the country's national police between september of 2023 to the beginning of this year. more than 60% of destroyed drugs, well, consisted of cocaine and meant for the

european and north american market. bags of coke. brian, back to you. >> it sounds like musk's twitter and lemon's partnership went sour, would you say that? >> there was some sour tness the with mr. lemon there, yes. >> even though you're a uva cavalier, i still like you. >> same to you, hokie. coming up, tiktok on the clock, facing a potential ban on capitol hill. we'll talk about the scary part of tiktok that has nothing to do with the app itself. trust us, you'll want to hear this. as we celebrate women's heritage month, we are sharing the stories of some of our newly named nbc change leaders. here is soccer league commissioner jessica burman. >> at the age of 16, my career amb ambition, career goal was to be a commissioner of professional sports league. so i felt really proud that i was able to achieve that. our league is at this extremely pivotal and transformative

moment where the world is recognizing the value of women and i'm just really humbled and appreciative of the opportunity to be able to shine a light on our league and everything that we have achieved to date and what's to come. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. they're waiting for you. hey, do you have a second? they're all expecting more. more efficiency. more benefits. more growth. when you realize you can give your people everything, and more. thank you very much.

[applause] ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com wall street forecasts over 100 billion in sales for anti-obesity drugs known as glp -1. but these treatments are largely administrated through cumbersome injections. enter lexaria bioscience with their patented oral delivery technology. early studies were glp-1 suggest reduced side effects and better blood sugar control with reduced spikes. lexaria bioscience. transforming the future of glp-1 drug delivery.

welcome back. tiktok is on the clock. the house passing the bill that would force tiktok parent company bytedance to either sell it off or face a nationwide ban. now it's up to the senate. if it passes there, it goes to the president because i'm just a bill. but some worry that this is bigger than just tiktok. emily will kins in d.c. can a look at how the senate might vote. and a cybersecurity expert joining us, as well, with all the stuff that tiktok may do that you are probably not aware of. emily, first to you, then ivan for more on the security side. emily? >> i mean, you got it. 352 house lawmakers voted for passing that bill that's either going to force tiktok to divest from its chinese parent company

or be banned in the u.s. while the bill flew the house, chuck schumer was noncommittal today after the house vote, saying only that the senate will review the legislation when it comes over. meanwhile, senators mark warner and marco rubio, the top democrat and republican on the senate intelligence committee, said that they're encouraged by today's strong bipartisan vote in the house, and look forward to working together to get the bill passed through the senate and signed into law. now, the senators remain open to making changes to the bill to incorporate some measures from the senate proposed legislation. and the house vote illustrates some of the challenges ahead. 50 democrats voted against this bill, most of them are progressive with concerns about free speech and how quickly the bill moved. but it also includes the top democrat on house intelligence, jim hinds. in a same, he said --

>> the issue of tiktok is likely to go on the back burner now, at least for the next week, while funding the government takes center stage again. remember, we have that partial government shutdown looming just brian, certainly a lot to handle, but the house vote has given this issue a lot of momentum. >> i saw there was about 67 nos, a couple of people did not vote, as well. we can't predict what the senate will do, but the president just started campaigning on tiktok, but he has said that if it gets to his desk, he will sign the ban. >> absolutely. i think this is something that lawmakers have really tried to make a distinction over. you heard a number say, look, our problem is not with tiktok. we are type if you want to post and watch videos. the problem is because of bytedance's relationship with the ccp, data from tiktok

collected on americans can go to the chinese government. the other concern here is what americans are seeing. that tiktok's algorithm could be showing americans certain messages. you saw some american last week when tiktok basically said to users, hey, congress is going to ban tiktok. you need to call your lawmaker now. it was a show of force and a show of spreading of information that i think cued a lot of lawmakers into how powerful this app could be. and certainly, while tiktok has said it has a good amount of separation, there are those concerns about its relationship with bytedance as a chinese company about what that could mean for information. >> emily wilkins in d.c., big story. thank you. let's turn now to ceo of faruk security, ivan sirini, who warned congress that tiktok is collecting sensitive data on users and non-users alike.

people pushed back on this ban, saying i don't care about my privacy. but what they're reading, after reading tiktok's terms of service, effectively, are you kind of giving tiktok, and thus bytedance, and thus china, the ability and legal right to kind of do whatever it wants with your computer? >> thanks. that's a very big question. so first part is obviously the data that tiktok is collecting through its app. and a second part that is really concerning that i talked a lot about in a congressional commission hearing is the data that tiktok is collecting about on american users who never use the app, and they collect a lot of information through something called pixels that are on the

websites that we visit. that's where another really big concern comes inwhere tiktok is collecting that information on people who never use the app and never agreed to any of those terms and services and privacy policies that tiktok has for the app users. >> talk to us in sort of non-super cybersecurity speak, just to an audience of people who maybe themselves use it, what that pixel description you just talked about, what access could they theoretically have on computers and phones? >> so first thing, what is a pixel? many of us heard what cookies are, and those are the tools that apps use to monitor activities of people, as when we log into bank accounts or do anything else on a website. pixels are just little pieces of filter that are watching everything with you. they're often seeing what your

type, your credit card numbers, what your doctor appointments are, anything else that you type into the online forums. that is a really sensitive information that we share with companies that we trust. like tiktok pixels and other pixels from other companies, they have that information. and the concern specifically with tiktok or byte dance by extension, or any other chinese organization is that by law, china and ccp, communist party, has the right to access any of the data of any americans. that's a really big concern for privacy and espionage and all kinds of other activities that they can use. >> and if the answer is no, please say no, because, again, this is not my world and i'm just extrapolating what i'm reading. let me ask it more directly. if i have tiktok on my phone and i have my bank account, wells fargo, bank of america, whatever it is, and i have an app on my

phone for the bank account and i log in, is it possible that through the terms of service, that theoretically, tiktok would be able to have any log-in information that i'm using on my phone? >> that's an important question. what we have found, what we have seen is tiktok being able to access that information, not through your phone, but through the websites that you access through your phone or your computer. so that's a very important distinction, because you don't need to have a tiktok app for tiktok to be able to get your information on the websites that you visit. >> terrifying, in a way. and it will be interesting to see what tiktoksays back, and maybe none of this is being utilized, i want to make that clear. but obviously, congress is concerned. you're concerned. you talked to congress. the battle is on. ivan, great stuff. thank you.

>> thank you. by the way, republican mega donor and capitalist keith rabois, never heard of him, threatened to cut funding to any gop member who did not vote in favor of the bill to ban. go to cnbc.com for the full story. staying with cybersecurity, we've got more developments in the united health hack. bertha has more on that. >> that's right. the health and human services department office of civil rights initiated a probe into that united health hack, which is now into its 21st day, saying that it will focus on whether a breach of protected health information occurred and united health's compliance with hippa rules, the patient privacy rules. we do have a statement from united health saying --

>> one of the threat actors that has claimed responsibilities has said that it had accessed more than five tarabytes of data. the last time we saw a scale on -- on this scale was anthem, which exposed the data of nearly 80 million americans on their plans. that probe from ocr was settled for $16 million. again, right now, the system continues to be down. united health experts it to be back by march 18th. back to you. >> bertha, am i the only one, based on what you just said and the previous segment, that i'm going to start sending people checks in the mail? >> it's been difficult. providers are saying the estimate is that doctors and

hospitals might be losing between $500 million and a billion in revenue per day. it's now been 21 days. they're going to get paid eventually. they're trying to get united health and other payers to advance them those dollars while they're trying to send that stuff via paper, which takes longer. in the meantime, they have to pay their staff and rent. >> it's just crazy. what's been going on. bertha, thank you very much. on deck, the government giveth and apparently the government taketh away. the pentagon pulling out of a plan to spend $2.5 billion on a big grant to intel. part of the spending package joe biden just signed into law over the weekend. we'll talk about the future of intel's possleunngneib fdi, xt.

welcome back to "the exchange." apparently a big flip-flop by the government over intel.

intel shares are down right now. apparently, the pentagon scrapping plans to give $2.5 billion to intel. christina is joining us now with this story. what's going on? >> intel was promised money from a defense spending package to support chip production for military use. but bloomberg is reporting the $2.5 billion promised by the pentagon is no longer. with no details on why the funding was pulled. the department of commerce is expected to be awarding intel a large sum from the chips act funding, as well. but the award amount and date is completely up in the air at the moment. intel declined to comment. a few weeks back when i spoke with the ceo and his team, they were under the impression they would be getting funding prior to the state of the union address by joe biden. but we know that hasn't been the case. recall even the commerce secretary spoke at intel's foundry event, highlighting this

friendly environment. but two big questions remain, how much fund willing intel get from the department of defense and commerce, giving its promise to spend $40 billion on plants in ohio and arizona. keep in mind that the chips act only has about $39 billion for manufacturing. there's only 500 companies that have filed statements of interest. so if intel were to get that $3.5 billion number bloomberg is reporting, that's 9% of the pot and leaves less for other chip companies. the second unanswered question, will the funding have strings attached? in other words, intel would have to focus on military chips at the expense of more advanced chips, which could mean decent margins, but the yields of production would fall. that means intel's goal could be even more difficult to achieve. brian? >> so we know that intel -- because i heard it from christina, i don't know if you talked to her, but reported back in february that intel was

pulling out of an ohio or delaying a planned big plant in ohio, correct? >> correct. >> and so, you know, which was kind f, you know, didn't look good in some ways. now we get this. are there -- are there cracks forming a little bit in some of the planned chips act spending? >> well, it seems like -- there's more delays coming from the department of commerce. the department of commerce is saying that's not the case, we have given out three awards, specifically for military use. global foundries one of the reci recipients. but intel did blame the chips act funding and not receiving the money for a big reason as to why they're delaying the plant production over there. there are rumors that joe biden will be traveling next week on the west coast, could be hitting arizona. if he goes over there, perhaps that puts more pressure on the department of commerce to come up with funding or the d.o.d. to come up with funding for intel so that biden could stand on the soil over there and say that

this is a win for manufacturing in america. but it seems like every week, there's a constant delay. and for the actual stock of intel, we've seen it run up. so much of that award funding has been priced into the stock, which is why it's reacting negatively. >> i do not want to put -- we c see a big selloff. >> i'm going to put you a little bit on the spot. there's a lot more to this than money, right? without going into all the different specifics, i would imagine that any money that any company, intel or otherwise, gets from the government, which is taxpayers, because the government has no money of its own, it's all this, comes with some strings. there are rules attached to this money. not just here's the money, do it everyone. you have to hire a lot, do certain things. >> yeah. there are stipulations, of course. they don't want this to be a handout and they don't taxpayers to think their money is just going into the abyss. there's going to be loans

divided and other incentives. is not just all hard cash. some places will have to provide day care. there is going to have to be, you know, you can't sell to foreign entities if your billing in america. there's going to be all kinds of stipulations attached to that money which means the d.o.c. has a big job ahead of them, because not only this year, but over the course of several next years. whoever is going to be the president of the united states are still going to have to monitor that money and track it to make sure chips are been made here in america and not through a third-party entity, let's say, and china. >> there you go. big story. tina, i'm sure we will see you again. coming up, prices are soaring. electricity set to spike thanks to a.i. and ev. we will talk to the ceo exercising the nuclear option and restarting uranium operations. the big story is up next. 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. (♪♪) glp-1 drugs used in weight loss treatments stand out as the biggest global blockbuster, but these treatments require cumbersome injections. with lexarias patented oral delivery technology, early studies suggest a better way. lexaria bioscience.

you're probably not easily persuaded to switch mobile providers s for your business.. but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? you can get two unlimited lines for just $30 each month. all in the most reliable 5g mobile network nationwide wireless that works for you. switch to comcast business mobile and save big with up to $500 off an eligible samsung device with a qualifying trade-in. don't wait call, click or visit an xfinity store . join over five million people who found golo, frustrated by your weight and health? the natural weight-loss solution. get your free golo for life plan and learn the facts about willpower, metabolism, and lasting weight-loss without starvation dieting. get the golo for life plan delivered right to your door.

no credit card is required. plus, get free instant access to mygolo.com for support with no monthly fees. never pay for an online diet site again. head to golo.com. that's g-o-l-o .com. we are seeing unprecedented global demand for power. that includes nuclear energy. uranium prices more than 75% over the past year. some uranium producers are now reopening mind that were shut down in the wake of the 2011 fukushima disaster in japan. among them is uranium and -- energy court joining us is the ceo of uranium energy corp. it's a critical topic. we have talked a lot, i have talked a lot about nuclear over the past couple years. people hated it, hated it until a couple of years ago. how much her interest are we seeing in nuclear right now in the united states? >> we are seeing the strongest

public support. we are seeing the best globally and in you the u.s., arguably, ever. demand is coming in more ways than just traditional use. one in every five home is powered by nuclear energy. that's existing fleet. however, the demands coming from energy related to data centers to support a.i. and initiatives from amazon to microsoft and google down, is rapidly changing landscape smr companies in the u.s. are now looking for uranium for advanced modular reactors. decks -- reactors. we are seeing a real game changer in the last decade. when you think about what type of energy we need now more than anything, we need reliable baseload and emission free electricity, which is what nuclear checks all the boston -- boxes. the issue, ultimately is at the heart of this is a shortage of uranium in the world and the u.s., which is what our company

is hoping to address. that's why we are starting the mines in wyoming, which you alluded to >> where with this uranium ultimately go? would you be selling this to? electricity producers? >> in the last year we have sold uranium to the department of energy. that's just one example of the d.o.e. is expected to not only establish, it has established, what is called the strategic agreement -- uranium reserve modeled after the strategic petroleum reserve. one of the largest suppliers of her uranium to the d.o.e. reserve. one of the largest suppliers of her uranium to the d.o.e. companies backed by bill gates starting a small factor in wyoming. we are supplying uranium to them. of course, existing reactors. there's 91 reactors operating in the u.s., 440 globally. and that is the market for the uranium that we mine. uranium is a depleting commodity and really has one application, generate electricity. and the energy intensity in

uranium is greater than truly any other moderately. just a few barrels of uranium can generate the same amount of energy as a few hundred thousand barrels of oil. truly remarkable. talk to us quickly about the safety of nuclear. this is not chernobyl. this is not three mile island they are very different technologies today. >> look, 100%. we have the fukushima incident in 2011. of course, it was a tragic loss for the country of japan. but no one died. due to radiation or two accidents at fukushima dynasty. those reactors were contained and there were no deaths related . the safety record of nuclear energy over the last few decades is on par with solar and renewable. the industry has always try to get itself in equal centered around safety. >> i'm sorry,. i have two seconds. thank you very much. great stuff. that does it for us. i will see you at 7:00. power lunch is next.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term

policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

circle welcome in to power lunch i'm tyler mathis. glad you could join us. tesla's troubles, once a darling of wall street and now analyst are bailing on the name. we are talking about one who down priced the stock today to well below its current level.'s said also it isn't so magnificent. >> the houses boating to that of owning to