howard lutnick is back with this.a week on the power of a ipa. >> what is more exciting than it to a chilling dollar company going up 10%? it is just awesome. the scale and scope of ai, has got everyone so excited. driving the markets. you are completely right they move is all nvidia and ai is not the fed. maria: that is one area of the marketing spending on ai it has not been all through corporate america though. >> it hasn't. >> it is excitement to this is just excitement and where we are going with aip. >> is this the.com bubble? >> every time it's overblown the excitement for a while but it will pool right now nvidia's got the ball everybody has got to infuinfused ai into the busines. we have to -- make everybody has to that's great for the business. why was a great for their business. maria: stock is up 240% in the last year not talk about your business in particular segments you are talking about with regard to real estate. your real estate business because last time we spoke when we were and davos you told me w

howard lutnick is back with this. on the power of a ipa. >> what is more exciting than it to a chilling dollar company going up 10%? it is just awesome. the scale and scope of ai, has got everyone so excited. driving the markets. you are completely right they move is all nvidia and ai is not the fed. maria: that is one area of the marketing spending on ai it has not been all through corporate america though. >> it hasn't. >> it is excitement to this is just excitement and where we are going with aip. >> is this the.com bubble? >> every time it's overblown the excitement for a while but it will pool right now nvidia's got the ball everybody has got to infuinfused ai into the busines. we have to -- make everybody has to that's great for the business. why was a great for their business. maria: stock is up 240% in the last year not talk about your business in particular segments you are talking about with regard to real estate. your real estate business because last time we spoke when we were and davos you told me we are

howard lutnick is back with this.is more exciting than it to a chilling dollar company going up 10%? it is just awesome. the scale and scope of ai, has got everyone so excited. driving the markets. you are completely right they move is all nvidia and ai is not the fed. maria: that is one area of the marketing spending on ai it has not been all through corporate america though. >> it hasn't. >> it is excitement to this is just excitement and where we are going with aip. >> is this the.com bubble? >> every time it's overblown the excitement for a while but it will pool right now nvidia's got the ball everybody has got to iinfused ai into the business. we have to -- make everybody has to that's great for the business. why was a great for their business. maria: stock is up 240% in the last year not talk about your business in particular segments you are talking about with regard to real estate. your real estate business because last time we spoke when we were and davos you told me we are going to have hundreds of billions

howard lutnick is back with this.week on the power of a ipa. >> what is more exciting than it to a chilling dollar company going up 10%? it is just awesome. the scale and scope of ai, has got everyone so excited. driving the markets. you are completely right they move is all nvidia and ai is not the fed. maria: that is one area of the marketing spending on ai it has not been all through corporate america though. >> it hasn't. >> it is excitement to this is just excitement and where we are going with aip. >> is this the.com bubble? >> every time it's overblown the excitement for a while but it will pool right now nvidia's got the ball everybody has got to infuinfused ai into the busines. we have to -- make everybody has to that's great for the business. why was a great for their business. maria: stock is up 240% in the last year not talk about your business in particular segments you are talking about with regard to real estate. your real estate business because last time we spoke when we were and davos you told me we

howard lutnick is back with this.power of a ipa. >> what is more exciting than it to a chilling dollar company going up 10%? it is just awesome. the scale and scope of ai, has got everyone so excited. driving the markets. you are completely right they move is all nvidia and ai is not the fed. maria: that is one area of the marketing spending on ai it has not been all through corporate america though. >> it hasn't. >> it is excitement to this is just excitement and where we are going with aip. >> is this the.com bubble? >> every time it's overblown the excitement for a while but it will pool right now nvidia's got the ball everybody has got to infuinfused ai into the busines. we have to -- make everybody has to that's great for the business. why was a great for their business. maria: stock is up 240% in the last year not talk about your business in particular segments you are talking about with regard to real estate. your real estate business because last time we spoke when we were and davos you told me we are going to

i mean, look, i spoke with howard lutnick on friday on maria bartiromo's wall street.e said of course jay powell's going to do whatever it takes to keep the guy in place who appointed him and who -- and that would be joe biden. so i don't know if that's the case. but look, you mentioned the election year, mark, and they could manipulate certain things so that inflation looks better toward the election, right? i mean, you know, they can make sure that there's oil on the market and do deals with saudi arabia to ensure that oil is flowing so keep oil prices lower and that's a key part of the cpi. i don't know. what do you think in terms of how the election year changes things? you mentioned it earlier that it's volatile. i'm wondering if all of these bad headlines elevated oil, elevated food, pce that could be hotter than expected, will they really materialize or will there be efforts to take things down going into the election? >> look, i mean, policy can certainly be used to try to influence the outcome of the election. but to everything that's just been talked about, i

lutnick ceo of kanter fitzgerald asked about euphoria. >> of course, dot com bubble every show we talkery time you know it is overblown, but some excitement for awhile then excitement will cool but right now nvidia has the ball everybody has got, infuse ai into business we have to, everybody has so, that is great for the business. >> so what about that is it a bubble should i buy now or have i missed it? >> a maria we would be underweight ai at one's peril not betting against ai the phenomena if someone lived in san francisco during dot com mania worked on wall street at that point it was much for expansive the mania hype about the internet versus a.i., ai is real again valuations can get well above reasonableness we're not there yet we think he investors should have a position if you will across that system or one of the things i think difficult, places to invest in ai a scare story right now howard does great work very he talented firm we think momentum continues because, capex is justifying it seeing companies not just largely companies involved you are starting to see more middle m

when we were in davos, howard lutnick was with us and he told us from cantor fitzgerald that sees $700 in defaults in commercial real estate coming. >> absolutely. disaster is an understatement. new york community bank cut the dividend 70%, 20% of their book value is in commercial real estate. look at the economics of commercial real estate and with yesterday's cpi number of lower interest rates, tuesday's gone with the wind as leo leonard skd says. what's going on in commercial real estate. we talked about trouble brewing in commercial real estate. now we're paying the piper. the government stepped in and capped rent stabilized apartments. these buildings are now worthless than they were five years ago which the math doesn't make sense. and then if you couple that with high inflation, higher borrowing cost, you can't make any money. so the government is supposed to be assuring us and guess what they're doing? they're destroying us. maria: i'm just surprised that we haven't seen a bigger impact already. i mean, now we're talking about layoffs, we've got instacart announcing it's laying

japan switzerland last time we spoke in davos howard lutnick from kanter quits gerald, schwarzman saidare er largest own of real estate across the world understand weakness in office a major problem does it take banks with it. >> may take down a lot of regional banks the ones have great exposure, here, recently. some banks that are down pinnacle down 8%, valley national, i have account down 14% of course new york community bank down 45% so a lot of regional banks in trouble regional banks index trying to come back getting slammed once again so i am real concerned more about regional banks than larger, money centers. >> i agree with that mark said a good point yesterday federal reserve jay powell, in his press conference removed the line banking system --. >> it wasn't a line it was a paragraph! whole paragraph whole -- didn't replace with anything. maria: of course that day we saw new york -- bank down 40% or something, but, that is stunning. >> it i go stunning a entire paragraph out like, out forget it, we made a mistake on that one. maria: all hand on deck charles sticking with us a

when we were in davos, howard lutnick told us to expect $700 billion in defaults around office space, largest owner of office nation the world said office space is not going well. well. there's so much talk about tech. what's your thought there, nvidia briefly topped amazon in market value yesterday. demand for chips using a.i. computing driving forward this move in nvidia, microsoft, amazon. you're talking about multi trillion dollar companies. would you buy any of these right here, ryan? >> this ryan. i think it's starting to smell like late '90s market speculation fever if you ask me. if you look at valuations, the magnificent seven, the net worth of those are more than every stock that trades in europe right now. if you look at microsoft at $3 trillion it's worth literally double what the energy sector is in the u.s. if you look at free cash flow, it's 68 billion versus 135 billion for the entire energy sector so i think valuations at this point are getting pretty crazy. if you own big ebbing the, i think it's time the -- big tech, i think it's time to diversify. i would own a pos