we've reached out to google and haven't heard back yet. >> thank you very much, deirdre bosa. >>> nowor today's three stock lunch. let's take a look at some of the biggest movers, starting with nvidia. the shares down nearly 6% as investors continue to worry over the return on investment for ai spending. the stock about 30% off its highs. here is boris, the managing director of fx strategy at bk asset management. >> hi, kelly. >> if clients pull back on the need for big investment in ai it could hurt nvidia. i don't know what the deal is with blackwell chips and so forth. the price action is making us take notice. when do you do with the stock here? >> with all of us who survived dotcom years, is this another cisco? i don't think so. i think ai is still a huge opportunity and of course nvidia stands to benefit from it the most. the blackwell chips are actually still high and their going to start shipping them in third quarter. all the turmoil and the correction from the highs, it's probably one of the things right now, speaking of volatility to sell puts against it and let it come to

let's bring in deirdre bosa with today's tech check. what do we know?tioned from the french prosecutors out in the last hour, a long list of charges and some of them you mentioned. the founder pavel durov was questioned and will remain in custody until august 25th, but to really understand why the story matters you need to understand the role that telegram, the app plays. this is one of the biggest social media apps in the world. it has nearly a billion users and it's a critical communication tool in conflict zones including russia-ukraine war and especially with those users is it's security through encryption, but as many in tech circles, here are pointing out it's a very nuanced encryption that makes it possible to see certain messages and potentially using it as an espionage tool and pavel runs the company pretty much on his own, something like 30 employees and also for his arrest, could ability for social media platforms and it's been used as a rallying cry for freedom of speech. telegram has long been on the radar of law enforcement agencies for it

. >> i call her deirdre bosa, because this is not my show. >> when you're here.s room. >> okay, d-bo, i don't know -- >> no, she was d-bo before. >> that's a dan nathan thing. what is yelp angry about? >> yelp is angry, they have been angry for many years. it says that google uses its dominance in search for preferential treatment. the company says that 50% of searches on mobile are for local businesses, and because google owns the platform, it puts its results at the top, at the expense of users and people looking for actual yelp reviews. so, this is something that yelp has been saying for a long time. what's different now, it is using -- do you remember that landmark ruling we got a few weeks ago in the case that the doj was bringing against google, the doj called google a monopoly. so, this opens the flood gates for more legal action. when google is already under an avalanche of legal action. >> dusting off my law books, don't practice, but i got the paper, as the indigo girls, i got my paper and i was free. it's not illegal to be a monopoly. yelp -- we forget

deirdre bosa has the latest. >> the nasdaq has riped up $2 trillion in value. the mag seven hit particularly hard today, shedding more than $650 billion in value. you touched on it with nvidia. part of the rerating the fundamental. lowered expectations and unwind in the a.i. trade that's powered megacap tech performance. the last earnings raised questions over returns and mon if ii tization. adding more fuel to those worries, that report you've been talking about that nvidia is delaying blackwell, its next a.i. chip, as dan was saying, that could push out billions of dollars in revenue that was expected this year to next year. so, again, a change in those expectations. further pressure that could from regulators. alphabet shares took a leg lower after losing its doj anti-trust suit over search. it faces a second one with the doj in trust, while apple, amazon, meta, they are facing lawsuits from anti-trust regulators, as well. a drawn-out appeals process is likely to push out any immediate effects, but greater scrutiny and decisions like what we got today could

deirdre bosa, what can you tell us? >> kelly, the extent of the sell offis so staggering, we put it in one graphic. hundreds of billions wiped out. trillions from the nasdaq over the last week. these are approximate numbers as of 11:00 a.m. part of the reason is this next chart, the yen carry trade that i know you've been talking about, look how closely correlated the nasdaq and the yen have become. this helps to explain it, but only part of the story. it's also fundamental. megacap ceos over the last few weeks saying the more the better, but investors are worried about the impact on earnings. valuations, you mentioned that before the break, they have re-rated, though over the last few weeks, on july 10th, that's when the nasdaq hit a record high. with forward price-to-earnings multiple above 30. that has changed. you now see that only two of them have multiples. the valuations have looked too rich, fading a bit, which some people may see as a buying opportunity. >> i think you're so apt to high defend light that. and p

alongside deirdre bosa i am jon fortt and shares of intel jumping today more than 7% as the company looksto turn itself around. during this year's chip hoopla the stock lost more than half its value. we'll ask our trader if intel can regain the former glory. >> we've been going across the country talking to local agents asking whether the prospect of lower rates is unfreezing the market and look back at the million dollar homes we've seen along the way. first let's get a check on the markets. you can see the dow industrials is under water by a quarter of 1%. the s&p 500 on the flat line. the nasdaq the outperformer by a smidge. it is a slow ahead of a holiday weekend. >> yeah. while the dow might ee

let's bring in deirdre bosa for the details this hour. what are people saying?it now comes down to the remedy, will it be structuring or operational, giving you a choice to use google on the iphone and other devices? this will shake out over months and potentially years. google is appealing. jonathan kanter said the search market is already at its most critical inflection point in 15 years. competitors like perplexity and openai are trying to make inroads. apple is integrating chatbots into its software. they recovered on the session today, though turning lower recently. it was a major victory for the doj and did rattle investors. there's no small amount of skepticism this will result before the market itself changes or the administration changes potentially altering that regulatory landscape. more likely the greater risk for investors is that the lawsuit distracts google over time from the most important rates at hand, the arms race. the company goes to trial against the doj a second time in september over ad tech. this battle or battles are far from over. kell

deirdre bosa is in mountain view, california, at the company's made by google event along with the companyer, thank you. that's right. rick, thank you so much. straight from the stage to our little studio here on google campus. tell me, what should we take away from this? what do we get today in what do we get in terms of gemini and google ai appl applications that we haven't seen before? >> thanks for having me, deidre. this was two really big things. first, we talk all about gemini and how we're trying to get it across our whole mobile ecosystem. the helpfulness. the other part was around announcing our new pixel lineup of phones. >> leaving pixels aside, you said at the top of the keynote, it's all about ai. >> that's right. >> what did we get that was different? how was it different than a few months ago? how should we think about these different ai offerings? >> at i.o. we announced project astro, today we're talking about things that are going to ship in the next few weeks. we gave live demos of a lot of capabilities. we showed gemini live with people on stage. it's amazing. a new ca

. >> deirdre bosa reporting. the green after snapping a three-week losing streak and they have a long way to go, and the etf hit an all-time high almost a month ago today, until then, intel and super micron and nvidia are down 20% to 30% and we'll look at whether to buy this bounceback ahead. as we head to break, the russell 2000 is down almost 1% today. the s&p and the nasdaq positive. we're back after upon this. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ ♪

alongside deirdre bosa i am jon fortt and shares of intel jumping today more than 7% as the company looks at options to turn itself around. during this year's chip hoopla the stock lost more than half its value. we'll ask our trader if intel can regain the former glory. >> we've been going across the country talking to local agents asking whether the prospect of lower rates is unfreezing the market and look back at the million dollar homes we've seen along the way. first let's get a check on the markets. you can see the dow industrials is under water by a quarter of 1%. the s&p 500 on the flat line. the nasdaq the outperformer by a smidge. it is a slow ahead of a holiday weekend. >> yeah. while the dow might eek out a little gain for the week, s&p 500 and nasdaq are solidly in the red, so we're heading into september which is typically a weaker month for stocks anyway. and with a fed meeting looming. let's bring in morgan ike santo a look at this market setup with two hours left in the trading month. >> yeah. going out kind of quietly and steadily for the month of september -- the markets

deirdre bosa is covering all the action at airbnb.s rate. >> whatever it is, brian, it is another data point in the travel and leisure slowdown. it is really that weak third quarter outlook that is hitting shares hard in the after hours. the ceo attributing it on the earnings call to shorter booking lead times globally and signs of slowing demand from u.s. guests which he said has shown up more recently and in july in particular he says the growth of shorter lead times was, quote, very strong. now, despite signs of macro weakness airbnb is in growth mode he says hiring and spending more on advertising, something they say will help them expand beyond its core. a lot of questions on how they're going to do it. he compared airbnb to apple and amazon that began selling only imax and books. he said airbnb is ready to go beyond short-term rentals and into products and services starting next year. that growth push i will note is weighing on margins and finally, brian, it would not be an earnings call without mention of ai. here chesky was me

the juggernaut that goes well beyond internet search these days and bring in deirdre bosa on their 20 a big milestone called alphabet now. >> it's a huge milestone. it's more than 7600% returns since that ipo. that makes it one of the best investments of the century. back then it was just a $23 billion company focused mostly on search and competing with yahoo! and aol. remember them? today it is worth over $2 trillion and has over 90% of the search market. also has businesses in cloud computing, pixel smartphone, smart watches, chrome browser, android operating system, gemini, the list goes on and on and on. it's made acquisitions of youtube for less than $2 billion back in 2006. there was double click which expanded their reach into digital advertising, motorola. eventually sold at a loss you might remember but did help the laywork for their hardware ambitions and also arguably one of its most important, there was deep mine in 2014 that helped solidify their position as a leader in generative ai so lots of lots of different milestones along the way and depending where you sit wall st

deirdre bosa is following all of those stocks today. d. >> hey, scott, brutal selloff. the bears have argued tech valuations support the case for a rotation trade. multiples rich and getting richer in the able of generative ai. july 10th when the nasdaq hit a record high where the mag seven stood in terms of their forward price to earnings ratio. after more than a trillion dollars in market cap loss between them in one week, those valuations take a look they've come back down to earth somewhat. the latest earnings raise the questions over returns and monetization in gen ai. they're saying the more capex the better but investors are focused and worried about the impact on earnings, adding fuel to the worries and selloff is a report over the weekend that nvidia is delaying blackwell, its next ai chip. take a look at alphabet shares in the last 30 minutes. this ruling. they took another leg lower after losing the doj antitrust suit over search at the heart of the case google payments to apple default search engine on iphone a deal worth tens of billions one that regulators

i'm deirdre frost with deirdre bosa live from the floor of the new york stock exchange. timing of rate cuts could impact the yield curve. jeff sherman is with us. >>> the under the radar chipmaker looking to

deirdre bosa joins us with the latest. >> the claims aren't new. well as others's saying google uses add advantage in search to gain advantage in search services. different, antitrust win against google, that decision giving yelp and potentially other companies a claim google is a monopoly. a declaratory judgment google's conduct violates antitrust laws. google in a statement says similar claims thrown out years ago by the ftc and recently by the judge on the doj's case. on the other aspects of the decision, which yelp refers, we are appealing and will vigorously defend against the meritless claims. yelp, though, mike just identified, the latest in an avalanche of legal battles google is facing's next week google and doj, submit remty proceedings punishments in that ruling and appear for a status conference. also in september, a second, yes, a second doj lawsuit. this one on ad tech, set to begin. state antitrust lawsuits and of course ongoing eu investigations. all religigulatory pressure, gi pause. alphabet lowest forward pe multiple despite stro