how does this translate into the growing empire for jensen? daine: jensen wong is not really rich.e 12th richest person on the bloomberg billionaires index with a net worth of over $130 billion. most of that is coming for the ownership of nvidia stock, which just passed one record after another. we see the market cap surpassing $3 trillion. his net worth up above over many rich billionaires on the index. we see him over passing michael dell last week and america's richest family. it's been a wide for him -- wild ride for him. sonali: bridgert -- richard and walton and the michael -- richer than the waltons and michael dell. the more nvidia grows the more jensen wong's wealth grows. what does it mean? daine: he's becoming a celebrity in the ai era with his signature black leather jacket. a lot of analyst would describe it signifies a trend of new ai hardware\ software. they are taking over the old generation of billionaires. traditionally we see the tech billionaires are coming from the software industry like meta's zuckerberg and bill gates. we see hardware companies like nvidia's

liz: jensen wong took 20 years to build nvidia. guys to started this company going to do? >> one very specific targeted but. it has a lot of risk, transformers may or may not be the future but it could be one of the biggest companies of all time. liz: you heard it first here. it is amazing. please come back. be our friends. we want to follow the story, thank you very much. fox business alert, international paper getting shredded after susanna ended talks for its competitor. it is the world's largest pump manufacturer and reportedly approached ip last month about buying the company in an all cash deal worth $15 billion. why is the company falling 6. 8%? %? because ip's market is just under $15 billion. just checking it. these things move, 15.074 billion, susanna says ip didn't engage with the highest price it was willing to pay and the deal has been pulled off the table. shares of blackberry in the black after posting a revenue beat and narrower than expected strong demand for cybersecurity services in the wake of high-profile attac

summit coming up on wednesday ahead of the big event nvidia ceo jensen wong is developing and delivering share how the cavities technology is ushering in a new industrial revolution this could be a big market mover, nvidia ranked as the third highest valued company on the nasdaq the stock closing of an all-time high earlier this week nvidia and mediatek are expected to announce an a.i. chip for computers and iphones at this upcoming event. we will be following all day every day this week on "mornings with maria" 6 - 9:00 a.m. eastern go forget to join us on fox business. i hope you will join us and i'll see you on sunday on the fox news channel at 10:00 a.m. eastern for "sunday morning futures" of exclusive interviews this weekend with trump organization executive vice president and president trump son eric trout, rand paul, white house senior advisor stever miller and director of national intelligence john ratcliffe all coming up sunday on fox news, join us for "sunday morning futures", that will do it for us on fox business. thank you for being with us, have a great rest of the weekend

summit coming up on wednesday ahead of the big event nvidia ceo jensen wong is developing and deliveringhere he will share how the cavities technology is ushering in a new industrial revolution this could be a big market mover, nvidia ranked as the third highest valued company on the nasdaq the stock closing of an all-time high earlier this week nvidia and mediatek are expected to announce an a.i. chip for computers and iphones at this upcoming event. we will be following all day every day this week on "mornings with maria" 6 - 9:00 a.m. eastern go forget to join us on fox business. i hope you will join us and i'll see you on sunday on the fox news channel at 10:00 a.m. eastern for "sunday morning futures" of exclusive interviews this weekend with trump organization executive vice president and president trump son eric trout, rand paul, white house senior advisor stever miller and director of national intelligence john ratcliffe all coming up sunday on fox news, join us for "sunday morning futures", that will do it for us on fox business. thank you for being with us, have a great rest of

summit coming up on wednesday ahead of the big event nvidia ceo jensen wong is developing and delivering the cavities technology is ushering in a new industrial revolution this could be a big market mover, nvidia ranked as the third highest valued company on the nasdaq the stock closing of an all-time high earlier this week nvidia and mediatek are expected to announce an a.i. chip for computers and iphones at this upcoming event. we will be following all day every day this week on "mornings with maria" 6 - 9:00 a.m. eastern go forget to join us on fox business. i hope you will join us and i'll see you on sunday on the fox news channel at 10:00 a.m. eastern for "sunday morning futures" of exclusive interviews this weekend with trump organization executive vice president and president trump son eric trout, rand paul, white house senior advisor stever miller and director of national intelligence john ratcliffe all coming up sunday on fox news, join us for "sunday morning futures", that will do it for us on fox business. thank you for being with us, have a great rest of the weekend. i will s

summit coming up on wednesday ahead of the big event nvidia ceo jensen wong is developing and deliveringhnology is ushering in a new industrial revolution this could be a big market mover, nvidia ranked as the third highest valued company on the nasdaq the stock closing of an all-time high earlier this week nvidia and mediatek are expected to announce an a.i. chip for computers and iphones at this upcoming event. we will be following all day every day this week on "mornings with maria" 6 - 9:00 a.m. eastern go forget to join us on fox business. i hope you will join us and i'll see you on sunday on the fox news channel at 10:00 a.m. eastern for "sunday morning futures" of exclusive interviews this weekend with trump organization executive vice president and president trump son eric trout, rand paul, white house senior advisor stever miller and director of national intelligence john ratcliffe all coming up sunday on fox news, join us for "sunday morning futures", that will do it for us on fox business. thank you for being with us, have a great rest of the weekend. i will see you nex ♪ >> v

wong filed to sell 730 million shares. and the doj sniffing around. julie: this could have been used as an excuse to solve them down. $18 billion worth of shares. >> a 10 plan filing, the full case is trading at 45 times earnings, growing earnings at 30%, 70% margins, your margin is my opportunity. i don't think all these companies will let them take all the share. he you will see some competition from intel, amd. neil: people look at forward earnings. and the earnings seem to justify it. >> if estimates are correct, it's not overvalued in the sense that it can grow 35% a year, what's questionable is whether the 5 year growth rate of 40% is going to be the case because i do think competition will come up and i think that's underestimated in the market. neil: kelly touched on it, why now? >> they saw what happened, got to it too late and couldn't to do anything about it. the bulls talk about nvidia ecosystem where they develop their software platform and the doj wants to make sure they don't run into a situation where no on

. >> summer faster comparing apples to oranges in some cases but jensen wong of nvidia says their problemd will outstrip supply for another 18 months, it doesn't matter what the pricing is, they got the orders. >> is a nice position to be in. we have microsoft of the round of layoffs, which employees are getting it next. >> not the number, the unit and the unit is reportedly mixed reality, ar, a.i. factors into that, they have a headset it is called the hollands it is actually used by the u.s. army the unit is not affected but the employees have mixed reality unit will be laid off if 230,000 employees google is cutting the jobs which division? across the cloud reportedly, 100 jobs for now sales, engineering, consulting, all part of cost-cutting why are they cutting costs, the prioritizing a.i. and spending on a.i. and the tech arms race google spending $48, you cut costs sales to spend money on a.i. some stocks reported before the bell bath and body works. >> down 5.5%, the report was find the guidance expected to fall from the prior quarter income in less than the previously expected, to

i was talking and watching jensen wong. he has a system he favors. want ethernet also. you have to have a partner with ethernet. cisco is that partner. >> yes. that is right. we started our discussions. jensen called me. i think i told you this before. it was in december of last year and we started working on what a partnership would look like. today we made the first announcement for enterprise customers with an integrated solution to help them easily deploy ai applications through a combination of technology, and video technology and storage technology. it is very well received with a nice automation layer. we will be going to field trials and we are excited to get the solution out there. >> can you explain it to people that it's not like these are equal. ethernet is gigantic. it's what most companies use. >> there is really no other provider besides nvidia. every enterprise in the world, all the traditional cloud infrastructure is ethernet. that leads those enterprise customers, they want ethernet solutions over time because it is what they know.

we'll have a report on what ceo jensen wong told his investors this afternoon. it takes us to our talk of the tape. the amazon resurgence, how it's happened, and where the stock goes from here. let's bring in cnbc's kate rooney who covers the company, along with amazon's shareholder stephanie link of hightower, also of cnbc contributor, good to have you both with us, steph, i begin with you, because you're the person i'm talking about. who bought more stock today in this company, tell me about it. >> i've been involved in this name for a while, scott, as you know, but i was under weight relative to the benchmark and i wanted to go overweight after i've done a ton of tanl checks, momentum is continuing on top line, margins, and bottom line. if you step back, north america margins have now beaten for the five consecutive quarters, and i think they're going to go from something like 4.2% last year to midsingle digits. that's the guidance. when i look at the components of that, retail is seeing a lot of momentum, and retail margins are still well below pre-covid lev

intel's pat gelsinger is firing back at nvidia's jensen wong who claimed that traditional processorse and well and this is the fuel driving the semiconductor industry to reach $1 trillion by the end of the decade. intel has fallen behind rivals with revenue slipping over the last two years. gelsinger was brought back to the company three years ago to help turn things around. footballs west -- footballs worst kept secret is out. mbappe is joining realogy in meaning europe's top club just got a lot stronger with the addition of one of europe's top players. madrid has been chasing mbappe for years. jonathan: for football fans if you're sick of real hundred dominance you will be sicker. he is 25. this will go on for years. of next, president biden's border crackdown. >> the reality is people do claim asylum when in fact they are fleeing poverty, generalized violence, and that is not an asylum case make. jonathan: the conversation is coming up next. live from new york city, good morning. ♪ (♪♪) ♪ well i was raised by careful hands ♪ ♪ yeah, they made me who i am ♪ ♪ so i'm off to see... ♪

in a filing with the sec, it was revealed nvidia ceo jensen wong sold a fraction of his stake in the for just under $32 million. hackers are selling consumer data of lending tree subsidiary growth wizard after the company detected unauthorized access on a cloud database according to a person familiar. there have been several listings of the data on cyber criminal forums being sold to the highest bidder. that hack has had no impact on operations and lending tree is still investigating the size and scope of the theft. american airlines unionized flight attendants are threatening to strike after the latest round of talks ended without an agreement on a new contract. the flight attendants are demanding better pay, saying they have not received a raise in five years. american airlines says at expect additional dates for negotiations to be scheduled and a deal is within reach. that is your bloomberg brief. lisa: it is convenient to be discussing this when everyone is trying to get on the airplanes. it's a good time to negotiate. got the leverage. up next, the long road to 2%. >> it will pr