micro, which makes server and storage systems, moving 6.5% higher, morgan >> just incredible moves after the bell obviously nvidia getting the attention, but even the other earnings movers. double digit moves that's going to do it for us at "overtime. >> that's why you have to watch "fast money," which starts now >> right now, can't stop, won't stop shares of nvidia roaring higher after hours. the stock up nearly 20% after blowing the doors off earnings and telling the street a.i. is going to keep the party rolling. the move, the conference call highlights, and the ripple effect straight ahead. plus, the tesla tumble elon musk's ev brand taking a massive hit in a closely watched brand reputation poll. the company falling 50 spots from just outside the top ten to number 62. the details behind the plunge and the potential stock impact coming up. and later, a '90s fashion favorite making a monster comeback today

and a look at the energy names goldman thinks could be very undervalued. i'm melissa lee, this is "fast money" live at the nasdaq mark site in times square we start off with an earnings alert with nvidia. the stock adding $150 billion and counting to its market cap after this report. that call just getting under way. let's get straight to kristina parse neff louse with more >> already high valuation trading at 70 times forward p.e., and the stock, like you said, is still soaring, above 20%. hitting an all-time high, inching closer and closer to that trillion dollar market cap, which is pretty substantial for a chip maker although, let's talk about the revenues for q-1 up 19% quarter over quarter with data center sales hitting a record, up 18% led by, you guessed it, growing demand for generative a.i. and

large language models. dana and then we have to talk about gaming revenue, an important segment, down 38% year over year, which kept gross margins lower than last year, but the segment was still up double digits sequentially the launch of new gaming graphics cards helped. and then you're seeing auto sales kept growing, up 114% year over year. so, a lot of what we're seeing is riding on the guidance, and it did not disappoint. expecting q-2 revenues of $11 billion with higher than expected gross margins lots of wins, including its biggest revenue beat in 5 1/2 years. and the stock now is 21.5% higher >> wow kristina, thank you, keep us posted on this conference call, which is under way as we speak this is the stock everybody wanted to short for fundamental reasons, for technical reasons, guy, and here we are you all-time highs >> i'm guilty of that, for sure. $11 billion off the street was

looking for. the midpoint was $7.2 billion. even the high on the street was $9 billion, so, a pretty remarkable guide but it's still a very expensive stock. even with that guide, this subsequent move, i mean, you're paying up for nvidia here. maybe i just have it flat wrong in terms of valuation, they'll go into the valuation. but still talking about a company even with this move, even with this guide, 25 times revenue, i don't know, 55 times eps and stuff. trading at an all-time high, let's see how it grows >> if you think all these stocks that have moved the market so far this year have been based on a.i., so, nvidia holds 90% of the market share of a.i. let's get it out of the way. there's nobody -- maybe you can see it, i would have thought it would have been a sell so, i think everyone collectively thought it was overpriced, overvalued, it's still not overvalued when you look at it in hindsight, but when you think about what you have to do with

all of that computing data, you need nan, you need memory, what gets us back to micron i'd be a buyer of micron on the back of nvidia's results i know it doesn't sound right, but you're going to need something unsexy like micron to -- for something sexy like nvidia >> just the fact that niece numbers, even for the current quarter, blew away guidance that management had given so recently -- >> 50% increase in -- i mean, that's insane, never heard of that before. >> these were cartoonish numbers. and you read stuff like where it's significantly increasing -- surging demand we're not even talking about even the stuff that's the pixie dust, so, it's -- their core business is strong you mentioned gaming they're auto design pipeline is $14 billion and surging. so, it's just -- at what point -- and this is where the technical guys out there will say -- fundamentals are a function -- or technicals are a function of good fundamentals.

they are not here to tell you what to buy. they will usually say, tell me where to buy it, but this really is a story with technical guys that see this breakout say, that's a function of fundamentals the stock's not cheap. and there are some shorts out there that are scrambling. and there's -- look, a lot of people -- it's been easy to say that this stock was expensive, was -- and i certainly have said that many times on this show, but this is one of those stories that unfortunately for fundamentals, you just haven't really seen them line up and i think the demand and the opportunity is out there, but their core business is better than people thought. and that's what's amazing here >> so, i mean, with all that said, i mean, are we maybe looking at a rerating if in the case, the scenario of a rerating of the stock, where we do things look a lot better and guidance is going up a lot, maybe it's fair to say that it should trade at this multiple at this point i don't know >> i mean, they're definitely a lot more than their competitors, really uniquely positioned to

take advantage of a.i. if you are in a.i., that's what's going to benefit you right now, so, i think that is a beneficiary. they were expensive coming into this, they are still expensive now. so, it wasn't something that i was jumping into it is important to know as an investor, even if you are not necessarily a buyer, we have a lot of people that are just invested in the s&p 500, index funds, a large portion of that is only getting bigger this is one of the stocks that's really lead the entire s&p return this year a lot of people are starting to get overexposed in that. so, just know what you own you probably have exposure to this, so, keep that in mind. >> data center es, where kristi led off, does have a lot to do with a.i you have to rerate, not only rerate it, you have to look under the hood and see everything has to do with a.i., and then figure out where, to guy's point, where you grow into those earnings >> interesting, though, it's going to drag up the rest of the sector, i'm sure amd is probably significantly higher i'm sure microsoft gets a boost

on the back of this, as well going to be interesting to see if intel goes up or down i mean, their data center -- >> flat right now. >> exactly it just shows that intel is still behind the eight ball here in terms of data center and everyone else is winning you can make a compelling case on valuation for intel i'm interested to see what it does to the broader market tomorrow, obviously. i'm sure nasdaq futures are going to be significantly higher the s&p under pressure today this flies in the face of all the other things we'll talk about on tonight's show, but for the day, at least, this is an incredible report. >> what does this tell us about market mentality it's day two of markets being under pressure because of the debt ceiling talks the volatility index 20 and above, finally, finally going higher. and yet, we have -- whatever touches a.i. going higher, as well, tim. and we've talked about this a.i. potential bubble forming in the market is this case in point of it? >> well, again, you are breaking

out to a new high, a fresh new high in a stock, and so, this is maybe rleading the entire marke to maybe start to make that challenge. and if you think about even the backdrop of today's debt ceiling negotiations, which were seen as negative and certainly a negative for the market, this is another reason why big cap tech should rally and so -- then i get back to where i see record short positions in s&p futures i certainly see an institutional world that is -- you see huge funds and ctas, commodity trading accounts, that are significantly understood weight the s&p. and this is the part that tells me we go higher. i know we debated, the debt ceiling, get it done, that's a sell the news effect, but it's hard to believe, at 4200 on the s&p, when we're at the top end of a range for a year, but really, positioning is bearish and this is the kind of stuff that tells people, hey, these blowup tops from covid days, we can actually increase upon them. >> think about large cap tech

stocks where you used to have disruptors be able to enter the market if rates stay where they're at now, you can't get a startup, knock someone off the hill anymore. so, that moat around the large cap names has grown bigger >> so it's better. even more of a premium you are making the case for more money to go -- >> that's the reason why people are underinvested in the large cap tech names and that's an element that just hit me in the last couple of weeks, that that could be more insulated than we first thought. >> it's fair i mean, so, let's say off of this guide for the second quarter, let's be extraordinarily constructive let's say it's a $50 billion revenue company, which is a stretch, we're now approaching a trillion dollars in market cap i mean, you can even -- so, even with the best case scenario for revenues, approaching a trillion dollars, still an expensive stock. could it grow into it? abs absolutely is it the most important company in the world right now it certainly trades that way

>> they're being priced as if -- i realize intel and nvidia, not so much -- >> completely different. >> but the presumption that nvidia maintains the pole position in generative a.i. and even just the data center chips that are so critical is -- is, i think, a bit of a stretch. >> who's knocking at the door? >> amd has some ability to compete there. i mean, i just believe that it's not a one-horse race >> they have 90% market share right now. so, yes, it could change, but right now, they are -- >> it's their share to lose. >> it's their share to hlose, bu where we've seen people close the gap so quickly, where things become commoditized, i realize we're very far away from that, but it's extraordinary that, you know, they seem to be the ones without any toopp of threat. >> courtney, does this move make you more optimistic about the markets and specifically tech, or does it make you question where we are even more

>> i think i'm questioning where we are more, because the valuations are getting so outrageous i don't know a better word for it but to play devil's advocate, what is a beneficiary of a.i., it is going to make the economy in general a lot more productive and i think that is where you can, to a certain extent, justify these higher valuations. to the extent that you're seeing that with nvidia, company's already up 105% this year, before this jump afterhours today, not a stock i'm jumping into, but it definitely could be a good thing in the long run >> yeah. guy, what do you want to know on the conference call, which is 11 minutes in right now >> how many times they say -- >> a.i.? >> last time, it was in the 30s. i'm being somewhat -- difference between this quarter and last quarter nvidia, actually, to tim's earlier point, their core business did extraordinarily well last quarter was some of met, but the fact they mentioned a.i. all those times got them on the threshold. their core business is doing well can margins hang in there?

we're talking about margin expansion, which is good, but can margins continue to move and how concerned are they and they talked about it u.s. s u.s./china, they made reference to that. >> that's the wild card out there, the -- i don't want to say black swan, because we know it exists in terms of a risk, but the outlier risk that could knock the valuation down very quickly or a lockdown that could affect production. >> except for the fact they really haven't talked about that, and i realize this is another one of those days where we started to hear about china getting ready to shut down again, so -- i just think that the story here is that there is such a tailwind behind this entire space, as i've just argued, i don't believe they should hold this competitive threat forever, edge forever, but there's nobody else in their space, and it's a case where nvidia even last year, we found three other things that they were also the front-runner remember when i was just gaming and graphics chips then it was crypto and, you know, so -- it's nvidia's game

>> muppmuppet news flash kristina just texted me, they mentioned a.i. 28 times so far >> in 12 minutes >> 28 times in 12 minutes? he's just going a.i., a.i., a.i. >> it's on a loop. >> the stock is at afterhours session highs right now, up 23%. so, something that we will continue to monitor. meantime, let's talk about the broader markets. the looming debt default deadline lawmakers are still unable to reach an agreement on spending, though house speaker kevin mccarthy just saying that some progress has been made for more, let's bring in the chief economist at smbc securities america joe, great to have you with us >> great to be with you guys >> we're in single digit days away from the x-date does that matter are we going to see the damage done to the u.s., the damage done to the economy, the damage done to the markets, prior to june 1 >> it -- yogi bear said deja vu

all over again it feels that way with the debt ceiling. there's a deal done, but it doesn't mean, melissa, we won't go to the last minute, and the last minute isn't necessarily june 1 i'm guessing it's somewhere between june 1 and june 9. the reality is, treasury has a lot of ability to make this deadline later, but it becomes all political, but there will be something done >> yeah, we were just putting up screen, joe, of how the markets reacted on the downgrade of the u.s. credit rating in 2011, but the reality is, there was a deal reached prior to this down grade. >> yeah. >> it was reached overnight, between august 1st and august 2nd, so, i mean, we can make a deal, but the damage could still come >> here's what i would tell you, melissa. couple of things number one, in 20 is 11, the u..

was downgraded in the spring john boehner had 49-seat majority, where speaker majority only has nine. and that 49 seats that boehner had were unruly tea party set of folks in '11, the economy was weak, we were worried about greece and european sovereign debt a lot of factors at play a repeat to '11 seems to be highly unlikely. doesn't mean that markets won't wobble by the x-date, which is june 9, or the bill market reflecting these risks but because investors can't be in these sectors they are out this the bill market but i firmly believe this will be resolved, maybe the last minute resolved and we'll go onto the next thing. >> joe, it's tim so, i think you just answered what was going to be my question on speaker mccarthy and how he comes into this and really the backing or lack of backing he's had for, you know, since he became speaker, or since he -- the 15 times it took him to become speaker let's layer in where the fed is

right now and what's going on with interest rates in terms -- this combination, though, means for your outlook on the company. you've talked at different times on this show, you know, leading indicators, things that really have you concerned >> yeah. >> does the debt ceiling do anything to any of that? >> no. it will be -- and again, it will be solved by june 9 at the latest when i look at leading economic indicators, i see they are down 13 pontes in a row, down 8% year over year. this feels similar to the '06 to '08 period where people were looking for a recession, it took a long time to happen, and of course, when we got it, it was pretty ugly. and i fear that's what's going to happen again, because household borrowing costs, not financial conditions, but what it costs households to borrow, those are all 20-plus year highs. record mortgage rates, credit card rates, auto loans, personal loans. that's 70% of the economy. and i'm fearful that when the labor market turns, the economy will weaken quite sharply. and look, one other thing as it

relates to equities, you guys talked about that, we've seen a significant increase in real interest rates well above 1%. i don't believe this economy has the dine mitchell and the potential growth to continue to grow in the face of 1% real rates. in the past, when that happened, the economy abruptly slowed, or the fed cut rates very rapidly that doesn't seem to be likely at the moment. >> joe, here's one for you i saw melissa was on "squawk box" this morning, that gentleman on from duke who actually wrote -- >> he did the model about the inversion, the yield inversion, saying that inversion signals recession. >> so, here's one for you. does the inversion signal recession or does it cause one >> both. because the inversion, the ten-year note, even at 370, where would it be if the market didn't believe the economy is going to slow rapidly? so, that's one story but the other, guy, the curve, when it's inverted, the banks

can't make money and that's when they started tightening lending standards last year. so, it is above the predictor and cause of recession, because of credit and money and lending multiplier basically falls apar when that curve is inverted. >> joe, do you think -- we were just talking about nvidia, jaw-dropping pop of 23% on the back of, you know, a crazy guide on q-2 revenues, and i'm just wondering, you know, it may be an outlier, but that kind of move, the kind of guidance, it's not what you hear when we're about to held into a recession, it doesn't feel like it, at least. i'm just wondering how much the fed looks at that, looks at the markets, the s&p around 4200, too high >> melissa, i don't like the narratives of growth in the economy. right now, it's being propped up by the consumer. didn't see a lot of growth on the cap x investment side. housing, manufacturing is in a recession. nvidia is a great company, but when you look at the equity market, it kind of parallels the

economy. it's very narrowly focused that is not sustainable. i want to see a lot of different industries, a lot of different sack or thes of the company participate in the growth. and again, let's not forget that monetary policy works with long and variable lags. we've raised rates a lot qt is going to restart it's possible we're going to get massive bill i ish sue answer this could be a very fraught environment for equities over the summer, so, no, i don't think solo one company's done well >> joe, thank you. >> thanks, everybody >> what was behind that question i'm just curious >> your interview this morning >> well -- what do you think >> well, i mean, joe's answer was both, i think it's more predictive than anything else, so, i mean, that's my sense, and the fact that people say it's different this time. they say it's different this time pred kated on the

employment picture, but i happen to think it's mutually ly ly exclusive. >> it's exactly why so many people think the markets white be particularly vulnerable >> i different say that. >> well -- >> no, no, i think history has shown that the market always has a narrow leadership. it's usually 20% -- >> but it's not skewed to 30 % of the market. >> well, now it's 29 on average, it's been 20%. so, yes, it's skewed for where we started off the show, for a host of different reasons. >> if you add communications and tech, you're close to 40% and -- no, i actually think that the factors that are pushing those stocks higher are not going to change and therefore it may push them higher. i mean, the market, as a group, i think, can go higher we know what's going on below the surface and it's not pretty. and i just think you add positioning on top of that now, the other side of that,

which is what has the market worried today, and you can make an argument it's been doing that since the early part of may, definitely the last two weeks, rates have been moving higher and rates have been moving higher on the yield curve, but on fed fund futures. we almost priced in am nother hike we're at a place, if you look where we were out a year ago, fed futures out to 24 at their peak, four, five weeks ago, 120 basis points of cuts in a year we're now inside of 85 and going lower. and so, i just think that higher rates for equities, we kind of heard the fed minutes, we know the fed is divided we heard waller today. the fed is divided if anything, rates are staying higher for longer. that's not great for equities, but it may still be good for megacap tech, which is not considered high multiple tech. >> but nvidia's high multiple. pull up the chart. it's up 29%. >> it sure is. >> 29% >> oh, baby. >> so -- historically, higher rates are not good for high multiple stocks but we have the

example of nvidia, which seems to levitate higher even in a high interest rate, higher for longer, higher -- i mean, whatever you want to say, it's high rates and you don't think that a stock like this should do well is nvidia now defensive? has something changed? >> no. >> what does this say? >> i don't think the markets are pricing in the higher for longer i think we all agree that's probably going to happen i don't think cuts are happening later this year. and yeah, they are starting to get more and more of actually another hike, we'll see if that happens or not but i don't think markets are pricing that in now. i think that's why companies are continuing to do well, because people are expecting cuts. but i would not discount that, and i think that's something you have to be cautious about. >> 22 minutes into the conference call, the mentions of a.i., probably 20 and counting, since 20 was hit in the first 12 minutes. >> muppet news flash >> you remember that >> no, i don't >> you remember that >> i don't remember that ernie, bert? >> collectively. >> sideline reporters on the muppet. coming up, we've got more

afterhours action. shares of snowflake. details from the quarter next. plus, a drilldown on the energy space the group lagging behind the broader market this year, but could there wbe a rebound in th works? tehawh "st tt enfa money" returns

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the cfo of nvidia just wrapping up his part on the conference call. they are taking analyst questions and answers at this moment so, we should have more details about the quarter and what they're seeing right now in determines of demand shortly we are seeing the stock higher by a whopping 26%. the market cap from nvidia, $975 billion. that's a gain of $220 billion. in just the past hour and a half. that's an amazing -- >> i put a short out there on nvidia 235 and covered it at 252 and that's why you have risk management i've gotten a lot of these wrong in my career i'm happy to say, it was get out of the way >> we will keep you posted on any developments another earnings alert for you snowflake sinking 11% despite a beat lowering its full-year guidance.

software this is another area does not work well in high interest rate environments and yet it is taking the cue from history. >> yeah, valuation is certainly the story here, and if you look at, you know, kind of an ev to earnings, you know, you've -- to revenues, you've got snow somewhere around 18 times. and this is not nvidia, so, i mean, this is the problem. if you look at the setup and the fact that a lot of these stocks that had very big runs into these numbers, that is where i think you end up on these numbers. the numbers weren't that bad, but the stock ran 35% into these numbers. it is a high multiple stock. you argued successfully, this is not a market that should be rewarding those companies, and i think that's the case. >> prior to this earnings cycle, 3 out of 5 times the stock was down and it was down the last go around 12% it's been in a declining trend line since way back when it did start to flatten out here and it looked it was trying to get some of its legs back to it, and obviously with a report like

this, it seems like they have wood to chop >> all right, and speaking of snowflake, jim is chatting absolutely with frank shootman that is tonight, top of the hour on "mad money. there is a lot more "fast money" to come. here's what's coming up next. bursting with energy at least one can hope. oil stocks looking to regain their former glory so, can you count on a turnaround in this trade plus, social politics. from a presidential run announced on twitter to the deep decline in tesla's street credit how elon musk's choices are impacting his companies. more on that ahead you're watching "fast money," live from the nasdaq market site in times square. we'rba rhtft ts.e ckig aerhie ds how do we show that we'll stand tall through the storms? nah. (thunder) how do we make our clients feel secure and- ugh... not lions.

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a couple of headlines on the debt negotiations. weekend recess will begin thursday as planned, but that lawmakers should be ready to return in case of a deal members will get 24 hours notice that they need to return, if an agreement is reached all right, meantime, energy is the only s&p sector in the green today, but it is still the worst performing group so far this year. the pull-back has created opportunities, perhaps, to get into the stocks. while some people think so, pippa stevens takes us through the space. >> after two years of outperforming, energy stocks are lagging this year. now sitting at its lowest level in more than two decades drilling down on the sector, the refiners are currently the c cheapest, with valero and marathon trading at 5.2 and 6 times earnings

hughes and williams are the most expensive. when it comes to wall street's favorite energy stocks, hall burton, targa resources are top picks, with more than 90% of analysts rating them as buy. on the flip side, kinder morgan has the fewest buy ratings at 29%, with coterra at 34% now, looking forward, goldman sachs said investors should focus on companies that have underperformed relative to peers, but that have positive catalysts on the horizon, and that includes names like conoco, hall iburton and hf sinclair. >> thank you, pippa? steve? >> if you think back on what pippa started off that interview with, was the smallest percentage after two years of outperformance if they -- their percentage didn't grow in the last two years, it's not going to grow. i think the large integrated

names, with obviously a warren buffett headline here and there, i think you could see them rally, and i know they're more efficient than they've ever been but they're just not what the market is focussed you in on right now. i think oil is range-bound and i think stocks have seen their highs. >> court >> i was still be optimistic on energy i think it's taken a back seat this year, definitely, but it was kind of interesting, the higher that interest rates go, the more underinvestment there has been in energy there's been such underinvestment really decade right now, and that'sy there's the huge constraint that really hasn't gone away i do think, yes, it may take a little while to turn around, but i would make sure you continue to play the energy space >> the p.e. differential from the s&p, the oil sector, is at the lows that pippa was talking about. that's the market, okay? that's not the energy sector that's my view that's not everybody's view, i'm sure, but that is definitely my view and oil stocks always trade cheap to the s&p that's what they do. they're cheap companies. they are run better, they are more efficient if i'm listening to saudi energy

minister over the last couple of days who is saying, i think he used the term they will be aching -- >> speculspeculators. >> maybe it was poor translation, but they are definitely -- >> ouchy >> right there is going to be an ouchy. they are saying their own estimates is there is going to be a million and a half barrel shortfall. their talk of being proactive may not be enough, but again, if people worry about supply, i think they're aligned. >> quick pick? >> marathon petroleum, 138 down to 110 reasonable valuation, levered play, mpc makes sense. coming up, more on nvidia's afterhours move. reporting a top and bottom line beat, huge raise to the guidance we've got analysts reaction when "fast money" returns

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welcome back to "fast money. stocks closing lower as investors awaited updates on the debt negotiations. the dow dropping 250 points, now on a four-day losing streak. the s&p falling three quarters of a percent and the nasdaq down shares of toll brothers getting a boost on its beat yesterday. the home builder weighing in on

m&a opportunities. deals with private builders could help boost deliveries next year. let's get another check in on shares of nvidia. details off the conference call. kristina is following the whole thing. >> yeah, it's still going on and i'm just going to try to mute it on my phone. aside from a.i. mentioned over 33 times, nvidia ceo and cfo saying that data center demand is extended out, and that's why supply for them is so important. the cfo saying that procured substantially higher supply for the second half of the year. i know there were a lot of fears about a shortage, so, that was hopefully cooling those fears. the ceo stating that the entire world data centers are moving to accelerated computicomputing. he's saying it's a full stack challenge and taken them years to figure it out exactly 15 but despite all the competition, which jensen said is in every direction, he believes they're

still the lowest cost solution, because you can't just buy one chip, you need to buy the entire architecture, and they believe they are doing it at the lowest cost at the top of the call, they said the ceo will go to taipei next week, of course, lock down those orders with tsmc >> kristina, thank you let's get more from chris roland great to have you with us. when i saw that huge guide higher, you think -- they're not going to guide higher unless you know they can hit at least that number, which is just staggering >> yeah, that's right. thanks, melissa. this is one of the biggest blowouts i've seen in the last decade in semis. and it's coming in contrast to virtually every other semiconductor company missing, so, this is a stark reminder that we are in the middle of a massive a.i. gold rush right now, and nvidia has all the

picks and shovels. >> what should nvidia be valued at given this quarter and given the guide? >> well, people are scratching their heads. it's one of the most difficult things to analyze out there right now. we had a p.e. of call it 80 times, going into this report. our numbers are going to shake out going from next year from call it six bucks to ten bucks in the single report, given this inflection, so -- the answer is, it's extremely difficult, and it's extremely open-ended. >> hey, chris, i was trying to explain why they can't have this kind of a lead, but you just said no one else has a pick and no one else has a shovel who is close and we don't have the time or the bandwidth, probably, to get into the technical answer on this, but you know, can anyone compete? >> i will give you the short answer, the short answer is the best prospect that i can see right now would be amd's mi-300.

they might be in the ballpark. they're probably not close to the h-100 a.i. card out there, but we have actually some good prospects for amd and the accelerated computing space. >> in terms of the guide higher, chris, how much can be attributed to a.i., how much can be attributed to data center because we're seeing all the chip stocks in the afterhours session pretty much, except for intel, trade higher. not all of them, as you say, have the ability to produce these a.i. chips, and so -- i'm just trying to figure out how we should think about the increases in the competitors of nvidia and should it really be an nvidia story? >> yeah, this is quite a bit for data center, but the vast majority of this is this a.i. arms race that's taking place right now. this is the gold rush of 1849, except this time, it's built

around generative a.i., large language models, and nvidia really is the only game in town, as of right now. >> at what point, tim mentioned this earlier, we're far from it, but we've seen commoditization in this space. will that happen a lot quicker than a lot of us realize >> perhaps perhaps. but really, right now, it's centered all around the gpu. there are hundreds of a.i. startups over the past few years that have tried to get into this market, and there are really no viable competitors right now like i mentioned, there's a glimmer of hope for amd in the mi-300, but really, nvidia is running the table here and it's really around their language kuda, and the libraries in kuda that are making this the de facto standard >> what is sort of the wild card

that could dent a.i. it seems like everything is going for it right now, chris. but what's on your radar in terms of something that can, you know, pop this bubble? >> we have had a.i. winters in the past big fits and starts. that's always a possibility here we're now moving to more than a trillion parameters that these large language models are, indeed, analyzing. and perhaps they, you know, top out at one point in time and we go into a new winter that is not my base case i do believe this is a cambrian period for a.i. right now, and nvidia is, indeed, the beneficiary. >> you tell -- you tell your clients to buy it at 391 >> i do. i do like i said, this is open-ended. >> yeah. >> but we also like the prospects for amd. they have a great server chip, where they are taking share from

intel and then a glimmer of hope in what is becoming a massive, massive data center accelerated computing and a.i. market. >> chris, thank you for your thoughts >> thanks, guys. >> chris rolland susquehanna. really tremendous. a.i. winter sounds scary and cold >> i don't think you're going to see that any time soon >> blustery. >> the spring just started in a.i. so, it -- and if you think about it, what are the analysts going to do tomorrow >> they're going to chase the thing. >> they are going to be forced to chase it and raise their price targets across the street. there will be a couple of holdouts, but for a couple of days, they will be forced to chase. >> yeah. >> and i think what's interesting, looking at their automotive division, which is a small portion right now of their business, grew 114% year over year and i think could become actually something bigger for them, which we haven't talked about. i think there are a lot of opportunities for them to continue to grow their space and that's one of them >> are you more convinced that

a.i. could be worth this, tim, after hearing chris? >> ah, i know what i don't know. >> it's the gold rush. it's the gold rush now >> i've seen gold rushes before, across many different asset classes, and different stocks, so, that's what it feels like. i actually would do something different and say, i think we've hit the peak of the concentration of the s&p into seven stocks i think this is going to be one of the crowning moments, because i just don't -- first of all, i think some of these companies like apple, i think there is anti-trust coming. i think some of these companies are too big, and by the way, i believe in democracy, folks. i just think we're not going to see the s&p concentrated in the top six stocks like we see today ever again i think we're peaking. >> would you be more inclined to go long or short nvidia? >> well, let me tell you -- there's no way i can say go long ooichb what i've been saying for weeks -- >> no way i can say go short, either >> listen, again, how many times do i have to be wrong? i'm wrong all the time

for the last 4 1/2, 5 months but i think when you start hearing total addressable market and the gold rush and -- >> cambrian moment that's a good line >> that is a good line maybe i'll use it. it's a trillion dollar company with best case scenario next year, i think, $50 billion in -- which is fine, i mean, but it takes a long time to grow into that valuation >> 90% of the market share that's what fools everyone. coming up, musk making some political news ron desantis expected to announce his presidential run on twitter spaces tonight what it means for musk's other companies, next. "fast money" is back in two.

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florida governor ron desantis and elon musk hosting a twitter spaces event tonight, where desantis is expected to announce he is running for president. the move raising questions over the political role twitter is playing under musk a new poll out shows the reputation of musk's other company, tesla, is tanking the ev maker now ranks number 62 on the list, and that is 50 spots below last year. tesla stock was down as much as 4% today so are his antics -- i don't want to say antics, expressions

of free speech, which may have a political bent often, is it tarnishing the brand and hurting its shareholders what do you think? >> well, i mean, if you -- if you're alienating, if you want to do it or not, potentially half of your consumer base, that's problematic, right? so, i think it is hurting. now, if you were to say, yes, i'm hosting this twitter space with presidential candidate desantis, but president biden's welcome to come and -- maybe that would sort of sway some concerns, but i think this does not help the cause, in my opinion. >> he has said at the ceo summit that he's not necessarily endorsing a candidate, and he wants twitter to be more of a town square where all voices would theoretically be welcome, but still, half his customer base in theory -- >> he'll say all voices weren't welcome before, so, he's trying to even out those odds, because i think collectively, every poll would say that it was lopsided to the other side before

he's trying to level it off now. and what i always find funny about free speech, people will say it right up until the point where you disagree with them and then they want you to shut your mouth. so, i believe in free speech, i think he does, he's leveling playing field now. >> i believe in free speech, too, but when you're the ceo of a publicly traded company and that free speech can hold shareholders -- >> oh, there's a lot of publicly traded companies right now who have been speaking their mind about everything -- >> if i were a shareholder of any of those companies, i would be upset >> elon said a lot of things in his career that should have harmed the stock and never did and in fact, you know, my biggest criticism, it's not that i don't like what he says or i do, it's that the rules don't seem to be for everybody if i said that stuff as ceo of a public company, i think i'd be in jail. anyway, i think the other part of what it means for the stock is that if you think about some of the most loyal investors in the stock, they happen to be people that believed in ev as a

concept and believed in, you know, and again, the green nature of what he's doing, and my guess is, that doesn't line up with some of his political views. coming up, we're going shopping a couple of mall stocks cashing in in a big way today. find out if our traders are coming along for the spree that's next. more "fast money" in two ♪ ♪ ♪

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welcome back to "fast money. a pair of retail stocks topping the tape today co kohl's jumping 7.5%. and aber com bee and fitch upping its full year guidance. the stock's best day since 2012. courtney, what are you seeing on either of these? >> i think it's really optimistic i think what you see is, don't discount the millennial spender right now. they are out and shopping right now, despite what is happening with inflation you know, i do think -- i don't know how much there is to go i think they had a surprise to the upside i wouldn't be chasing that, but i think it's really optimistic what we saw. >> all right, let's dig in more to kohl's now. options traders betting on more gains ahead for this company

mike khouw's got the action. >> second busiest retail name after target more than five times the average daily call volume. the weekly 21-strike calls were the most active, after taking some profits early, most of those being bought for the second half of the day traders betting this rally could continue >> mike, thank you for more options action, tune in friday, 5:30 p.m. eastern time upex falras. nt,in tde (vo) this is more than just a building. it's an ai-powered investment firm with

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let's get one more check on nvidia still up a whopping 27%. that market cap currently $960 billion. off a better than expected quarter, a massive guide analyst chris rolland saying this is a cambrian moment we'll see if this spills over to broader nasdaq in tomorrow's trade. final trade time tim? >> well, i'll use some of chris's terms. he said picks and shovels. gold let's switch gears and say, if you think rates in the dollar going higher, you don't want to own gold the opposite, i think you want to old gown. >> courtney? >> itb i would not discount your home builders actually been benefits from

higher interest rates. >> grasso? >> see what price nvidia is trading at >> 385 >> oh, 386 before. come on now. tesla. >> guy >> mpc, mel. >> all right, thank you for watching "fast." "mad money" with jim claimer starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to a special ceo council summit edition of "mad money." welcome to cramerica other people make friends. i'm just trying to help you make some money my job not just to entertain but to teach you so called me at -800-743-cnbc, or tweet me @jimcramer right now, we're playing