want to buy, and there's only 21 million of them. there's not enough for every millionaire in the world to own. charles: 20 seconds. bob bailey is saying the institution's still not 00% onboard. >> i don't know who he is -- [laughter] he's probably a nice guy, but i disagree. charles: if i'd had more time -- >> i apologize to bob. i'm sure he's a fantastic guy. charles: institutions are onboard? >> blackrock has $8 billion in their fund, and they're out there telling people it's a flight to quality. charles: bitcoin is a flight to quality. >> of course. how are you going to protect yourself, right? if they're going to devalue your currency and you need something to protect yourself from currency debasement, i think that's why larry fink is going to get institutions onboard. charles: my man. congratbraces -- congratulations es, you've been spot on. you know someone else who is always spot on, liz claman. liz: pomp's the man when it comes to bitcoin and, boy, has he been right. fox market alert, the bulls

right now are hunting high and low for a catalyst to push the markets to maybe a new record. right now not having much success. the dow, which lost 96 points at the closing bell yesterday, is down another 85 after squeezing out ap an 8-point gain yesterday, the s&p 500 losing 10. the nasdaq at the moment down 81. the russell, both of these also saw points added on the board tuesday, but now they're looking at goose eggs or worse. nasdaq down 80 points, the russell 2000 down 10 points. now, the bulls might not have to wait too long to find what they're waiting for; that is, if salesforce comes in with solid earnings, they report quarterly numbers after the bell. this could be an artificial intelligence market driver. i mean, maybe not on the same scale as nvidia perhaps, but with why salesforce? lately salesforce has been leveraging its a.i.-driven einstein co-pilot platform which enables customers of theirs to multitask and and get work done

through conversational means. ahead of the reveal the stock, which has soared 83% over it's past year with, is flat at $299.39. we do have web bush upping its price target. so we'll be continuing to watch this up until we bump up against that closing bell. but as we wait to see if salesforce lights a fire under the markets, bitcoin, yes, burning down the house. after blasting past $57,000 yesterday, the crypto getting a second is wind. now, earlier this session it sailed above 60,000, and around 1 p.m. eastern it went totally parabolic. we'll show you the line chart here. it sprinted to $64,000. now, right now it has moderated just a bit. it's at $61,045. [laughter] but the all-time high of $68,789, that was back in november of 2021, appears to be finally be in sight again for the bitcoin faithful. and now all the spot bitcoin etf ifs charles and pomp if were

just talking about, they were just approved january 10th, they are hitting fresh highs. a couple of things at work here, but the main one is that it has never been easier to invest in the cryptocurrency because of these exchange-traded funds. it's become more many of a liquid market and a bullish momentum for bitcoin increases. as that happens, that is bringing the crypto-curious investors to these spot bitcoin etfs, some of them gaining as high as more than 7%. all right, or we need to show you treasury yields, it's two minutes past the hour, they are falling which is helping equities come off their lows. the 2-year yield which yesterday touched a 2024 high is pulling back just a bit, 2.5 basis points to 4.67%. the 10-year down 3.4 basis e points to 4.27%. this after new york federal reserve president john williams gave a speech on long island that basically reiterated what the market already knows, the central bank is not yet ready the cut interest rates. williams was then asked during the q&a what he sees as the

danger of assuming inflation has been doused enough so that they could cut rates. >> i think one mistake that's easy to fall into is thinking that this is all behind us, the effects of the pandemic, the war and everything and that now we're back to normal. but we're still seeing kind of repercussions and, you know, things happening that a followed from that period from the pandemic and some supply chain issues that can reemerge for various reasons. so i am optimistic about the direction, you know, we are in terms of maximum employment pricing and our goals, but i'm also a, you know, recognize that there's quite a bit of uncertainty out there. liz: okay. so when he began speak weeing, the dow was down 103 points and right now down 67. so no the real shocker or there. does that mean that it's all up to earnings to drive this market right now i? to our floor show traders, peter tuchman live from the new york stock exchange and seaport securities' teddy weisberg. peter, is anything emerging on

your screens, any pronounced flows with 58, 57 minutes left to trade that could shove the markets in either direction? >> right now it's hard for me to focus on any particular stock is. for the last two hours of trading, i'm hyper-focused on the s&p 500 specifically. and i would say that within the last five minutes we've seen a significantal arely in the spiders, for sure. we were down 17.5 handles literally when i got on, you know, to come and talk to you, and now we're only down 9. so i think you're seeing overall a little bit of a breath, maybe it's a little bit off what mr. williams said or not, but the market is sort of trading in a strange range. it seems that there's sort of a tight spot where people are looking for any kind of a little bit of a tip to just kind of scoop stocks. so for me to pick one would be sort of irresponsible. i think right now we're seeing a nice little rally in the spiders coming into the close. liz: i'm glad you put it that way. especially when you can see so much of the movement down on the floor of the nyse. teddy -- [laughter] he just talked about how they're

hunting again for perhaps another catalyst. where are they going to find it? where are investors looking at the moment? if. >> well, i think, liz, this is the problem, you know? we're exiting earnings, just about done. the earnings have come in better than expected which has been the case for many, many quarters. going back almost as far as i can remember. and it's always been a reasonably good period for the markets. but as we exit earnings, then the focus returns to all the unknowns that are out there, and they're still there. it's the direction of interest rates, it's the fed, it's the economy, it's geopolitical events and, of course, now we have to throw in it's an election year. markets can deal with just about anything, liz, but they can't deal with the unknowns. i think the markets have been terrific. we've had a great february, ends tomorrow. we had a good, we had a good november, december, coming -- ending 2023. averages are at their all-time highs. i think we're kind of due for a

little pause here. i think the markets are going to generally slide into some kind of trading range. and without a catalyst, i don't see what the catalyst is, quite frankly. without a real catalyst and all these unknowns, i think we're just going to trade in some kind of trading range. and if anything, the buyers will probably be negative not positive simply because we're trading at the highs. liz: yeah, i see that. but, peter, that said, there is always a trade. there's always a way to make money. and i don't know if that means that you go into the unloved sectors that have been waiting for their moment. >> you know, look, i think it would be interesting for people to start looking -- obviously, nvidia's that trading at report highs. however -- record highs. however, there are a number of other stocks within the a.i. space, some of them are in the russell. we saw there's a stock, soun, it's called sound mound, i think it's called, and and i'm not an adviser or stock picker, but it's fascinating to see a lot of

people still are dying to find some stock with exposure to a.i. that is actually affordable for your everyday retail trader. it was a $1, $2 stock coming into the last couple of days, and it spiked up to $8 yesterday trading now around $6.50, 7. liz: yeah. >> look, if you can find a stock that has exposure to a.i. that is reasonably priced, that may be many -- look, no advise ising here, but it's a fascinating thing to see that because obviously, look, the biggest numbers -- movers have been a.i. i will definitely mimic what teddy said which is markets can deal with anything except the unknown. right now once earnings season is off, we're obviously looking today we have gdp, tomorrow pce. you know, obviously we saw cpi and ppi come in last week a little disappointing, yet the market did not even give the market -- the investment community did not give the market a moment the even sell off. by the end of that first day, we saw the market rally into the

close, and we've seen bullish posture since then. so -- liz: yeah. >> the market is amazing. liz: you're talking about -- let me just clarify -- >> -- right now in the market. liz: peter's talking about sound hound, and it did get a price target hike as a i'm looking at it earlier today. we're looking at northland capital raising the price target to $5.50 from $4. it's already past that right now. $6.52 at the moment, up 207%. dead key, know that's not exactly your style -- teddy -- but you also for a year and a half if have been really, really touting the short-term treasury yields. is that trade still something that you feel is important to have in a portfolio? >> yeah, i do, liz, because i think in spite of, you know, all the positive rhetoric, and and peter points out a.i., you know, i don't think there's anything cheap in a.i. no matter where you want to go. the fact is there are still so

many unknowns out there. markets have traded up. you know, we've had a great month as i pointed out. anybody that's been in the market has probably experienced that. finish the fact is there's still so many unknowns. treasuries are still a great mace to hide. basically risk-free, over 5% on your money. i mean, you don't have to be a rocket scientist to figure out where you want to go. there are certainly sectors. you know, i like the insurance sector, i like tech, but in particular meta when we talk about tech. i like the energy stocks. i think, you know, maybe i've been doing this a little longer than peter though. i think i knew peter when he had hair -- [laughter] >> clearly. >> i've been doing this a long time, and i think always keeping eye one one on the exits is a good thing to do. and when you don't know what to do, treasuries is a great place to hide, and i still think it's a good place to hide. liz: teddy, peter, i love you both with or without your hair.

fantastic. you're our classic traders, we appreciate it. thank you. all right, folks, despite all the hand-wringing over high food prices, yes, inflation, diners at cava are throwing money ott at cashiers. the fast casual restaurant scene sales blew out estimates. so what's the secret sauce behind the explosive expansion? is it something in the lemon herb tahini dressing or something else? the ceo of cava joins us next, and, you know, cava has been following in the stood -- footsteps of other successful foodie results this month, chipotle is gaining two-thirds a percent, shake shack up 1%. we are just getting started on "the claman countdown." don't go away. ♪ ♪ you know, when i take the bike out like this, all my stresses just melt away. i hear that. this bad boy can fix anything. yep, tough day at work, nice cruise will sort you right out.

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liz: put down what you're eating and look up at the scream. [laughter] beyond meat shares are going above and beyond. take a look at this gain, 35.a 5% -- 35.5%, on track for a record percentage increase after the company reported a beat on revenue and announced plans to cut costs and increase margins. today's report triggering quite the squeeze in beyond meat's very heavily-shorted shares. do keep in mind it has been a very difficult couple of years for beyond. shares are still down about 45.6% over just the last year, but today it's a great day for those who believe in that company. on the other hand, shares of med train kwan fast casual train fast cava have enjoyed a 135% aevent, up about 35% from where it opened for trade for the

first time, that was back on june 15th. cava hit an all all-time high yesterday after reporting a 52 revenue jump and a surprise net income of 2 cents per share in the fourth quarter. analysts were looking for basically break even. cofounder and ceo brett shulman, i've got my knife and fork, and i need to thank you for opening a cava within 2 miles of where i live. that's been a boon. finish. >> well, hey, liz. great to be back and thanks for having me. we're glad we can get your favorite mediterranean meal closer to your home. [laughter] liz: these numbers are pretty incredible. if you could point to one single strategy that pushed you to this double beat, what was it? >> i just think it's the real proof point of how our food being received across the country. this unique cuisine where taste and health unite. and the results are really a demonstration of the powerful brand we're building, the

category-defining brand, the extraordinary potential we have and the tremendous work of our team really delivering on our strategy to bring this cuisine to more communities across the country. liz: i know that analyst estimates are a very inexact science in some cases, but the same store sales number looked really -- it's a happy accident for you guys, but it looked very odd to us. it was such an incredible beat. they were looking for 5.9 growth. your actual number came in at 11 plus percent, 11.4%. how do you, how do you sort of wrap your mind around that, and is it really that people are ramping up their spending on your more premium offerings? >> well, we have seen a consistent growth of premium attachments, things like our honey chicken or craveable pita chips or those fresh juices that we make in house. but with i also think it's a testament to the growing awareness and interest in mediterranean cuisine. we've talked about the shifting

demographics, how people's pallets are shifting -- a palettes are shifting, and we deliver on that great proposition where a taste and health unite. with our initial public offering last year, with the many restaurants we've opened over the last few years in communities across the country, when we open in communities, people may not be as familiar if with our food as other cuisines, they trite, they like it, they come back for more, they tell their friends, and the sales continue to grow. liz: yeah, i see that, definitely. the mediterranean diet is so hot. people do want to be healthy. it is more expensive to eat healthy food. i would like to know about your cost at the moment and what you're seeing with food inflation. tomorrow we are getting that all important core p if ce inflation number, the personal consumption expenditure number that the fed loves to look at. what is your sense of the consumer, his or her health out there and what you have to spend and how you avoid passing on too

much of that to your customer. >> yeah, it's something we've been focused on intently the last few years, and it's it's evidenced by the fact that we have not taken as much price as some of our peers and really tried to deliver a great value proposition. i think the increase in premium attachment shows that and indicates that, that we deliver a great value where people can still add that and not break their budget. and we do it in a number of ways. i think our format is very efficient, is able to deliver, again, that cuisine as -- at a value proposition. and you think about our supply chain efficiency and our direct sourcing model where 87% of our ingredients are sourced truckly and our vertical integration. we actually just came online last month with our new state of the art 55,000 square foot production facility in southwest virginia. that is in complement to our existing 30,000 square foot facility in maryland, and this is where we produce our chef-crafted dips and spreads, think that feta --

[laughter] we do it at scale with quality and consistency that we're able to deliver to that guest with great value in the centralized, these centralized facilities. it's just another way that we're able to deliver high quality cuisine at an affordable price. liz: makes sensuous yeah. >> and, you know, one of the other things we're doing, the legislation in california, the 5678 -- a.b. 1228, predecessor the fast act, we are not going to pass along those -- liz: this is the employee pay, right? >> yeah. so this is about a 30 basis point impact. this requires, you know, minimum wage to accelerate at a much greater degree than planned, but we want to invest in to our team and our guests. liz: can i present you right there, because we hear from a lot of people who own businesses similar to yours, if you raise the minimum wage, you're going to lose jobs, people will go robotic. and you're not saying that? >> well, there's no question that automation if continues to grow in our industry as a way to become more efficient with our businesses. but our mission is to wring

heart, health and humanity to food, and i don't think we'd be living up to the humanity piece if we were a restaurant that was strictly robotics and automation. we want to use technology to enhance the human experience, not necessarily replace it, and we want to deliver that great mediterranean hospitality to our guests. and people still want social connection. we have great digital channels. we have 31 digital drive-through pick-up lanes, our own digital order system, but 64% of our occasions, guests are opting to come in to our physical space and engage with our team members. so we want to support those team members and not tax our guests to pass along those costs. so we've incorporated that in our full-year restaurant-level mar someone guidance. liz: good. good for you. brett schulman of cava, thank you. good to see you. >> thanks, liz. liz: a whole new lexicon is sprouting up around artificial intelligence, perhaps the most controversial word that louis -- hallucinations. that's when something like this on your screen happens.

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♪ liz: you don't see this very often, one of the biggest drag on the nasdaq at this hour,al pa bet. shares down just under 2%. 32 european media groups from 17 countries are hurling a $2.3 billion lawsuit against the tech giant over guying's -- google's digital advertising project -- practices. ceo sundar pichai is putting out another pyre over the company's gemini a.i. platform. a tuesday memo to employees has been obtained by fox business, and in it it says that google's staffers are working around the clock to fix the image generation feature after critics pointed out the a.i. producing inaccurate images like the

covers of "the new york post" last week depiction of america's first president, george washington, as an african-american. joining us now is kelly o'grady with the details of the memo, what's next for google. kelly, it doesn't look like a simple fix. it's going to take a while, right? >> reporter: definitely, liz. you would think so. but google has said numerous times they plan to relaunch their image generation service within just a few weeks. i spoke to engineers in the space outside of google just to get a sense, they said this could be a quicker fix around the guardrails of the sat war -- software, but some are saying you would need to fully retrain the a.i. in that memo, by chai did admit the company, quote, got it wrong when it came to the errors in gemini's responses. he said going forward, quote, we'll be driving a clear set of actions including structural changes, updated product guidelines, improved launch processes, red teaming and technical recommendations. we are looking across all of this and will make the necessary changes. i will note i think this is an

important point, he didn't apologize even with the chat bot unable to condemn pedophilia as wrong. now, the stock is taking a hit for a number of reasons today but has lost $109 billion in market cap in the last five trading days. from my experience in the corporate world, something like this, it really takes a long time for pichai to address the issues himself. gemini isn't seen as mission critical across the company. i spoke to some sources within google, they share the a.i. has yet to be rolled out across google's full suite of destruct products, so it's looked at more as an marketing tool currently. regardless, it's not working. senator hawley is calling for sundar pichai to testify before congress again, renewing calls to repeal section 230 and,s liz, if this debacle leads to something like that, it would require companies to deploy massive content moderation resources. that could meaningfully hit google's bottom line. back to you.

liz: kelly o'grady, thank you very much. yeah, five trading days, that's certainly a bruise. thank you. apple's pivot to a.i. is dominating wall street notes that come out, right, every morning. now, following the report that apple is abandoning its ev project, here is one. ubs says apple ditched its plan for an electric car to focus big on a.i. bets. ubs is expecting a, quote, huge announcement at apple's worldwide developers' conference which may include a new a.i. processer in the iphone 16. bank of america coming out and saying that the apple likely see a, quote, strong refresh cycle for the if iphone over the next few years due to generative a.i.. and morgan stanley saying apple abandoning the ev race could improve its operating margins. although shares still down about 1%, it's within a rough couple of -- been a rough couple of days for apple as well. no love for dating app bumble which is hitting a record low,

down 14% today. the company's forecast for first quarter revenue falling short of estimates. bumble is also slashing about 350 jobs as a it deals with a slowdown in user spend. wall street analysts breaking up with their price targets. amongst those flashing, wells fargo cutting it down to $15 from 19. and jpmorgan cutting to $17 from 20. they're both too high at the moment, bumble is at $11.33. unitedhealth group at the very bottom of the dow and third to last on the s&p 500. several reports say the department of justice has launched an antitrust the probe into the health insurer. the company drawing scrutiny after broad withingenning -- broadening it reach across the health care sector. it has also acquired doctors' groups and that, of course, has grabbed the attention of justice department. right now shares down 3.25% but off the lows of the session. ground breaking medical

technology could soon be available through medicare, and one biotech is ready to help aging baby boomers hold on to their hearing. how many of you have started to see your hearing degrade a little bit? billionaire minnesota timber wolves owner glenn taylor and envoy medical ceo brent lucas are here next to tell us how their middle ear implant could change the lives of hundreds of millions of americans and people around the globe. it's a fox business exclusive. let's check the leaders on the dow to heat map. boeing's been a nice surprise today for those who own it, up 2.7%. at the very top after it said it's embracing the quality and safety demands that the federal aviation administration if just handed down. "claman countdown" is coming like back. ♪ -- coming right back. ♪ (vo) what does it mean to be rich?

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liz: with less than three days before a government shutdown, yes, a government shutdown, congress is racing to pass a short-term funding bill. the house returned to session today after a 2-week recess with speaker mike johnson telling fox news' chad pergram, quote, we're in progress, and our gop sources tell us that the house plans to vote tomorrow -- hmm, on a 1-week continuing resolution. they've kicked this can so far down the road that a things look completely flat. meanwhile, majority leader chuck schumer said an the knot -- on the senate floor today he hopes a deal will pass very soon. that's forcing critical initiatives to the back burner including the hearing device coverage clarification act introduced earlier this month. the bipartisan bill looks to clarify that implanted hearing devices are different than hearing aids and, hence, should be covered by medicare. one of of the bill's biggest

backers outside congress, envoy medical, the only company to have a fully implanted hearing device approved by the fda with another device, a fully implantable cochlear implant, in clinical trials right now. here in a fox business exclusive, the company's eau ceo, breaths lucas a-- breath with9 lucas along with glen taylor. brent, to that news that is pushed to the back burner here, if congress did get its act together and pass that bill, how impactful could it be? >> well, it could be very impactful for the company and also for people that need access to unique hearing devices. one of the things that you will realize when you start to follow the hearing implant space is there's not been a lot of competition in the space, not a hot of innovation. and part of that is because of the reimbursement challenges set forth by medicare and ore government agencies -- other government agencies. so it'd be with hugely impactful for us and also our business.

liz: glen, before we get to how it works, you were so impressed by in that you have put major financial backing behind it. what grabbed your attention about this company, envoy? >> well, the same as most of the companies i invest in, it's the people who brought the project to me. brent and a group of engineers brought this project to me saying it's something they could do, but they needed financing and somebody that would believe in them. and it's a long-term commitment, and the more i got to know them, the more i believed that they could do this, and i have poured money into it to get the winning results that we countly have. liz: brent -- currently have. we're looking at an animation here, and i would love for you to explain. you got one of the esteem devices. that's the one that that has been approved by the fda, so it is in the true sense of the word a unicorn, and there's only one that's been approved by the fda.

how does it work that makes it so much more valuable than previous implantable attempted, you know, they're tinny, you know, it's been very, very is unsuccessful in some cases. >> yes. no, the esteem, and i hope you can see it here, it's a little hard on the zoom, i know, but the's esteem is a fully-implanted active -- liz: lift it a little higher. >> i'm sorry. liz: that's okay. >> the thing i'll draw your attention to is the sensor. that's what makes envoy medical unique in every day. this sensor is not a microphone, this sensor sits on the opt cls inside the ear, so the sound will come down your ear canal, hit your eardrum, and we will pick up the vibrations from your eardrum. and then to transfer to the cochlear implant, we use that same sensor for the, for the acclaim as well. so, again, we're using that sensor to pick up sound from the

vibration of the membrane, and then we stimulate using the electrode similar to the other cochlear implants out there. liz: glen, when you looked at this, is it something -- listen, $48 -- 480 million people around the world have hearing loss of some sort. and then, of course, the outright people who are deaf. this is just a ground breaking opportunity, is it not? and how do you feel about this waiting on the testing that the acclaim is going through at the moment? are you encouraged? >> well, i'm definitely encouraged because it's been success after success. but we want to get it to market so so it does real good. it's the patients that i'm really concerned about. people need it. people know we're developing it, and they're waiting for it. so we just gotta get it out there to the doctors so they can implant it. liz: brent, the approved implantable, the esteem, how

much does that cost? >> so the total all-in cost of the's esteem is about $25,000 including the device and the surgery. liz: yeah. >> but when you look at the cost of not treating your hearing loss or undertreating your hearing loss, it's far greater hand that. for example, cognitive decline, early cognitive decline is now associated with not treating your hearing loss. people with untreated or undertreated hearing loss loss are more likely to fall and require a hospital stay. there's also people that have to go into nursing homes earlier because they don't treat their hearing loss by themselves. they can't age gracefully in their homes. so we believe both of our products, which are fully implanted, the only pulley implanted -- fully implanted devices that we're aware of in both fda approved, the esteem and in trials, the acclaim, they're the only two fully implanted devices that will

allow you to live the rife you deserve. liz: well, it's striking a chord, and people can hear it, certainly, who are watching right now. when we started the interview, the stock was up about 6%. they're liking what they hear, it's now up 78% at the moment. granted, it's a $2.21 stock. we know those can be very volatile. as we finish up, and we want to hear about the acclaim and every development as it proceeds along the testing phase. please. glen, i've got to ask ask you about the timber. woolf:s. there are reports that a-rod, al sand drink rodriguez, set to acquire the controlling stake in the timberwolves from you. okay, give us something. we want to hear if that's going to happen. >> well, i would just say that we're still waiting for the paperwork. you know how long that takes, so at this point i'm still running the club -- [laughter] and i have the responsibility. and we're doing really well. they're working on a project to come up with the money and get

the deal closed in the next couple months. liz: are you going to miss having ownership, or have you gotten all you wanted out of it? you billionaires love to own nba and football teams. >> well, i -- their proposal, i'm sure, will let me have a pretty good sized ownership in it in the future too. liz: okay. all right. we just want to let our investor-viewers know that that now the stock has been halted for volatility because it's had such a significant gain while you guys were talking. but at the moment, or we'll be continuing to watch this moment about envoy medical and the timberwolves. thank you both for coming on. >> our pleasure, thank you. >> thank you for having us. liz: bitcoin also kind of going parabolic earlier in the session. it is inching closer to its all-time record high. right now it's gaining 5.8%. what's going on to get it there, and is the boffo energy usage required to mine the cup toe -- the crypto going to be an

eventual roadblock? charlie's going to break something on that next. let's look at the crypto minors, because those are the guys that need the big servers. riot blockchain down about 7.5%. hive is also a down 7.6%. but all three have had incredible gains over the past year with. we're coming right back. ♪ ♪ the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?"

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liz: breaking news, bitcoin on an absolute tear. it has pulled back slightly. ed world's largest digital asset barely touched 64,000, the highest level since november of 2021. it is at 60,178. that is gauge of 6%. the surge in trading demand crashing the u.s.'s largest crypto exchange coinbase with some user accounts showing balance of zero dollars. coinbase giving an update in the last hour saying customer trading is improving on its app. that client assets are safe. i will chip coin base stock. that would be pretty smart to do. it shot $212 a share.

now 20dollars. >> is that up or down. liz: it's a gain of 1%. >> whole crypto universe is taking off. it is way behind us. we're in a new sort of phase. there is momentum play if you're pieing this stuff, if you think, there is a good case to be made this thing hits and goes beyond its its high, all-time high i think was 69,000, right? liz: yeah. 68,000, i had it written down. 68,000 and change. >> we're right there. and the reason why because you just can't create enough bitcoin to meet the demand of retail getting into it. liz: only 21 million of them. >> here is the thing where it can really go higher. people are not taking it into account. if financial advisors start to mainstream crypto as part of a asset mix, stocks you, bonds, c, crypto, it becomes mainstream at morgan stanley or merrill lynch. we're not there.

this could take off. be that as it may there are growing pains, which is structure of crypto. you mentioned after foe mentioned coinbase. liz: yeah. >> the infrastructure buckling under wicked amounts of trading. that is not all. you have kracken and binance also experiencing server issues. they're having, some of their trades are having a hard time settling and you don't really know and when this sort of stuff happens, given what happened with ftx, with the sam bankman-fried fraud, i'm not saying these are frauds, people start freaking out. liz: the whole gulping energy issue is huge. >> that is on top of everything else. this is something crypto people have to worry about, figure into their calculus to buy this thing or not. the biden administration will come down on this thing, no doubt. gary gensler has not been dissuaded from cracking down on crypto. they will appeal the ripple case

they got a partial victory. the ruling is no hackneyed. liz: they will go have miners as well? >> they go after everything, miners. liz: energy -- >> let me finish. >> you're not getting to it! >> give me a break here. i'm trying to report this out. you're sitting they're, who are you, mike wallace? i'm sorry about that. mike wallace, i watched insider yesterday. liz: red haired wig. >> biden administration. larry: i know from my sources in democratic party circles, in terms of crackdown on crypto the notion that crypto takes up too much energy, particularly bitcoin because it needs to be mined, they think they're on solid ground. so they will go after the miners. liz: right. >> they will go after, every part of the infrastructure they can to slow it down and so just be, figure that into your calculus when you're buying this stuff. on the flipside of that crypto has one big, huge, advocate on its side. you know who that is?

liz: peter schiff. i'm kidding. he hates it. >> no. larry fink. liz: yeah. >> no better person to have on their side, larry fink not just the world's largest money manager, he is basically unofficial advisor to both republicans and democrats because he sits at blackrock at 10 trillion. they have to know what he is doing. liz: knows what investors want. >> he is a food risk manager. he calls bitcoin right now a store of value. so that is a big on the crypto ledger, so to speak on their side, over gary gensler. i take fink over gensler on this battle. liz: that is really important what you flagged. >> thank you. liz: you have to model into -- >> yeah, yeah. thank you, thank you for not interrupting me when i said that. liz: after nvidia reported stellar earnings in part due to artificial intelligence chip sales because they have an he can extraordinarily hot, now

tech investors are turning to the company whose ticker is literally a.i. we are minutes away from c3.ai reporting fourth quarter results after the bell. analysts are expecting a loss per share of about 28 cents, revenue of 76.14 million f analysts are correct it would be a bigger than expected loss per share and lower revenue from the previous quarter, while c3.ai struggles with profitability, our countdown closer says, don't waste your time on that one park your money in a different a.i. play. we have palumbo cio phillippa lump bow. give the viewers the name and make your case. >> it was super exciting, sales up 20% year-over-year. they had the commercial business up0% year-over-year. margin went from 22 1/2% to 34%.

return on investment capital is north of 10% problem. a financial standpoint they did a great job and crushed it. the key thing for pal lynn tire, you're seeing -- palantir. on the commercial side of this is tremendous, not really for palantir but for the whole industry. the thing about which is important, of the spend in the digital revolution that we're seeing right now is under 500 billion. it is expected to go to eight to 10 trillion over the next 10 years. think about the spend rate and what it means for companies like palantir and nvidia that are out there. liz: for those of you who don't know palantir has two big businesses. they do a lot of data work for governments and what really caught fire is their commercial business, and they struck a huge deal with the entire hospital infrastructure in great britain. that is really interesting. they have a deal with the cleveland clinic. we covered that with the ceo

alex carp, but phil, what could be the dark cloud over a.i.? some people think it has gotten very, very bubblicious? >> this is the part i think investors really got wrong. it is what i said before. it is really simple math. think about back in to thousand with amazon and e-commerce. think where e-commerce was then and now. amazon was making no money. they had no market. streaming video with netflix in 2007. look at streaming video of overall market cap. we're in early stages of a.i. that is what investors have to understand. i understand the whole multiple situation, but the key thing is the spend rate going forward. that is key for these businesses. liz: looking at the markets from 30,000 feet. big one tomorrow we're getting core pce, the read on inflation the fed watches most closely. what are you expecting and if like cpi, the consumer price index it comes in hotter than people expected, what does that really tell the markets about

investing in equities? >> i'm a big believer inflation is over. it has come down precipitously from its peak. you're seeing it sticky because of wages and a tight labor market and on the services side. ultimately we'll get down where the fed needs to get down to. it may be longer than anticipated. think about where we are today. it is tremendous move down we're not going straight down too, but with artificial intelligence the supply chain issue has really subsided. really number one thing for inflation issues. i see us come down to two. liz: it is lifting the markets over the past year certainly. [closing bell rings] phil, great to see you. thank you so much. here we go, the closing bell, the dow ending near session highs. that means it is down about 30 points. red on the screen today. tomorrow you have to watch the final hour, see how the market reacts. david: hello, everyone, welcome

to