today. i'm also reminded gap was up pretty big next week it's really consumer time we have had some retailers report this week, and we'll see if that continues. mentioned gap, up enormously most pretty much since i was born that's going to do it for now for "overtime. "fast money" starts now. live from the nasdaq market site in the heart of new york city's times square, this is "fast money. here's what's on top tonight friday bombshell, sam altman fired as ceo of openai we'll have to latest plus a ripple effect for microsoft and the big a.i. players. also, it's the night of a thousand charts from the dollar to regional banks to retail and more what this week's outside moves say about the state of the market and where these charts might be heading next. later, wearing the crown netflix quietly having quite a memorable month. the stock is up 30% in the last

30 days. what's behind this royal revival? we'll debate that. i'm melissa lee. on the desk tonight, guy adami, tim seymour, bonawyn eison and dan nathan we've got to start with the developing story on openai the company's board ousting ceo sam altman late in the day saying he was not, quote unquote, consistently candid in his conversations with them. shares of microsoft, openai's biggest investor dropping on the news let's get to steve with what we know. >> reporter: sam altman, the face of the generative a.i. boom and ceo of openai, he's out of the company. ohai board saying in a statement, quote, mr. atman's departure follows a deliberative review process by the board which concluded he was in the consistently candid in his conversations with the board, hindering its ability to exercise its responsibilities, adding they no longer had confidence in his ability to run

if company the openai chief officer was named interim ceo. altman just putting out a tweet on x saying, i loved my time at openai it was transformative for me personally, and hopefully the world a little bit most of all, i loved working with such talented people, end quote, adding he'd share more later and posting a salute emoji. this has huge imp implication for microsoft, which has invested billions in openai for exclusive first access to come of its technology, not to mention running its surfaces on azure cloud. for now microsoft say it plans to continue its partnership with openai telling me, quote, we have a long partnership with openai and microsoft remains committed to mira and its team. shares of microsoft took a d dipdi dip lower on the close

altman was speaking at the apec dinner just last night now, the big question is whether or not this weakens openai and therefore microsoft's head start over google and others in generative a.i google just had to delay its gemini that would convert with a better version of chatgpt. another to watch, anthropic, now has the backing of billions from amazon melissa? >> steve, thanks keep us posted on developments back at headquarters a lot of questions regarding expect lay li why he was fired, what they was not candid about in term of communications. was it the business? was it something else? if it was the business that has an implication in terms of valuation of the company we still don't know a lot. >> this is seismic when you think about this microsoft investment of $10 billion that happened in january of this past year.

i think the valuation was just under $30 million. money raised at $80 million. when you think of a guy like sam altman, familiar with the publicly traded ceos we talk about all the time, this guy is like the golden child in the private markets over the last 15 years in silicon valley. when you think about the competition with google, with anthr anthropic, a host of other companies, sam altman was important in that. when you think about the implications for microsoft or the landscape as it relates to generative a.i., it's talent, capital, and a host of other things microsoft, should it be down on this i don't know where they've invested in the company, what they've secured as far as what openai has to do with azure and the like it's a good deal for them them thing could get cut in half, which has happened in large

compan companies, and it really still wouldn't be a problem. >> where was microsoft at the time of the investment >> $242. >> and where's it now in $3.69 and change it's not much, but if it's going knock the valuation of a.i. it's got to knock the a.i. pick si dust. >> if you think abouthow viral it was and the impact on other valuations, it's a moment in time we'll never forget. microsoft effectively at all-time highs here. i don't think it dethrones them. i don't think -- the reality is that the competitive landscape is closing in fast and we see this in other places, too. it's probably why dan thinks nvidia's absurdly priced, too. this is what the market is grappling with right now. >> i think it's hard to spin a ceo ouster as a positive with that said, there's very little information

i don't know what he wasn't candid about was he lying was the communication not up to par. i'm going to -- with that said i think the stock price in microsoft or the price action you're seeing post news is indicative of the premium that has been assigned to a.i., and that goes for microsoft and everyone else. so i'm going to kind of sit on my hands and wait and see before getting involved in microsoft stock. i'm long it. but with that said, i do expect them to continue to come up with a succession plan and be able to capitalize on generative a.i. >> at minimum what we know, guy, is he's gone at minimum what we know, guys, is he was a tremendous talent and a great ambassador in terms of what a.i. will be, and he is gone from openai and the company that microsoft invested in what does that mean? >> there's more to the story is what it means, i think it's rather abrupt steved mentioned he was speaking obviously in his role and capacity last night, and then today this happened. so the abruptness is concerning,

number one number two -- i guess we'll have a guest to speak to this -- there's key risks associated with this, so we'll see. microsoft, as we all know, it's a $2.7 trillion company. even if you're talking about reducing openai down to nothing in terms of valuation, it doesn't move the needle, but it clearly moves the needle in terms of market sentiment. if you put up a microsoft chart you'll see in december 2021, at the the stock made it all-time high, $341, high, $3.45. that past resistance should become support given the news and given what we're probably going hear over the weekend, i don't think that $3.45 is a pipe dream, especially given the fact that microsoft has gone from $310 to $375 in the last year or two. >> do you think we're going to look over this weekend and say that was a moment a lot of the

air came out of the a.i. bubble. >> it could be sam altman is probably going to start another a.i. companying right? it just creates more of a competitive nature that's going to be capital that flows to him. i think it's more important that you think about the money that was attracted to the space publicly and privately you use the term pixy dust we went through this with a whole other class of crypto assets they have the potential to be transformative but when you see valuations in private markets, okay, skip up tens of billions of dollars in a matter of months, there's no real due diligence being done here. >> sounds very clubby. >> we'll easily look back and say this was a bubble. could it deflate a little bit? if you think of the broadening for competition, talent, resources, that's probably what happens. >> the moral of that story in terms of analogy to sam

bankman-fried and -- >> i also think you have to look at the reality of 90% of fortune 500 companies are using some type of tools on openai. i mean, on chatgpt and building off those platforms. so, the head start, there's no question about it. and i don't know that this does anything to change the addressable market and the demand around a.i. anywhere. i think it just levels the playing field more. >> for more let's bring in alex cantowicz. what's your take on the news >> i think openai was already a company that was going to be on the deline, and what i mean by that is we're in a moment where everybody has access to the same technology that openai rose to fame the model developed within google was something openai used successfully to create incredibly popular products like chatgpt and dolly.

now even's coming for them you have anthropic funded to the tune of the millions by google and amazon then you have google in the middle of -- it's delayed but releasing its own potentially more powerful model gemini this is a moment where they were vulnerable they needed to put their best team forward in order to compete, and now they've lost their quarterback, so it's incredibly poor timing, moment for openai to have this happen to them. it's concerning for microsoft, which put all its eggs in the openai basket. and we're going to see, it's going to reshuffle the way this a.i. battle has been playing out. >> who gains from this if openai is weakened? >> google gains because they have the anthropic investment and gemini coming out. but i think amazon it's been about bring your own model and using it within the amazon web services. now microsoft is taken down a

peg. their main competitor with azure. you have amazon in a strength position saying, anybody can come to us by the way, the ceos we work with, they're still in their jobs. >> clearly the argument is that this changes the competitive landscape. to what extent do we think that microsoft has had a note or head start? or do you think given the price action that we've overvalued that head start and that will come to bear fruit going forward? >> they have had a tremendous head start the last earnings report they said they went from 11,000 people on the openai service to 18,000 a huge jump. to get 7,000 enterprise clients to jump on in a quarter is unheard of so they had that head start. but there's a natural path all these companies take they begin on openai because it's easy and has a head start then apis. then they head where anybody can use any model.

they can substitute, put whatever product they want, and pick their best model. the bigger they get, they move open source, something like facebook has been chipping with lama 2 openai was going to be weak, and now we're going to start to see this darwinism just start to accelerate. >> your premise is openai was already on the decline did we see peak valuation? does this hasten that decline? >> the valuations have been wild thinking about the way the market has been valued a.i. companies has been crazy but i think this shows that openai on the decline shows the opposite it shows this space is on the rise, because it's not just the openai show anymore. you have powerful companies, google and amazon getting in, and anthropic is going to pose a serious challenge. as opposed to saying openai is declining, it's a system of, you

built your products on com commoditized soft ware now everyone's using that and get in the game. that's a sign of strength. now these companies that were behind, they're going to be further incentivized, seeing a moment of weakness in a.i. i expect this to accelerate from here. >> alex, thanks. guy? >> i'm reading a tweet from gene munster. sam altman out i'm shocked. he just hosted a great development day. everybody loved it more importantly he has led the company to faster success than any other tech company it doesn't feel this decision is based on performance there must be more to the story. that's sort of what we said at the top. i don't know what more to the story means, but i also know that we find ourselves in an environment that when we get news like this it's typically sell first, ask questions later, and we'll see what happens on monday as more news comes out. >> yeah, particularly in a space that has enjoyed huge

valuations we're going to talk about nvidia later in the show. that's the next big earnings report to be released on the 21st do you think this changes the all the prism through which we evaluate a.i.-focused, a.i.-leveraged canes >> first of all, we don't know what this means to microsoft and yet we have been able to interpolate the dynamics that went on with the company i think this is what alex was saying the space looks more competitive than ever, more integral than ever, and success here for a handful of companies is probably critical. >> let's turn to the marks this week nasdaq and s&p 500 up 2% dow trailing the group up nearly 10% in this hot stretch with the markets experiencing a november to remember we asked the traders for the one chart that is top of mind for

them bonawyn is picking ten-year treasury yields. why? >> i think the macroeconomic story is what's been driving performance over the last one to three months, and you see that we backed off of just north of 5% to just shy of 4% and i think that's really pushing this narrative of finding this goldilocks soft landing. us you've seen yields retreat, you've seen technology, microsoft and a.i. and others, you've seen a rally and a flight of capital into the some of the underperformers as well. this is the tail that's wagging the dog, and that's squarely where i'm focused. >> dank one dog that is being wagged is what you picked. >> this is a russell 2,000 small cap. think about the macroeconomic factors bonawyn speaks about oil's come in a whole heck of a lot, but the way the small cap stocks act to me is not particularly great, and when you think about this, a lot of financials in there. a lot of regional banks have

come off the mat but up 10% off key, key support level. if we can back that chart out to maybe a five year or so, this thing is just not even getting going here, despite what we've just seen in the s&p and nasdaq over the last two, three weeks so to me, this was a leading indicator late 2021 when the fed started raising interest rates, made an all-time high, and started to lead lower to the downside, and s&p followed i suspect a retest of this one and expect the s&p and nasdaq to follow news. >> guy your is the vix, why? >> here we are back below 14, 13.75 or so. single teens, low single digits, that is typically a place where the market starts to encounter some difficulty as it continues to try to move to the upside, so i would submit a vix at these levels is not pricing the head

winds or risks out there that haven't gone away despite the fact that yields have come down. i think people think yields are a sell for everything, but the problems around a 24 vix, still here at 13.5, so the vix to me is an important tell. >> tim, what's yours >> it's the dollar to me, the dollar is always sniffing out central bank policy, fed policy really the dollar peaks when i think the fed peaked you can go back to last october, but you can go even to november 1. the move in the dollar this week it's about 1.8%. that prices in a few things. fed meeting, cpi you've taken some of the pressure off on rates, but i think ultimately it's very important for risk assets. it's very important for the commodity complex. that's the one brain cell. you think about multinationals, earning power, demand. i think the dollar's not going to crater here there's a lot of other factors at work. but we have been waiting for the dollar to weaken i would argue the dollar's been

in a 1246 year bull market, so it's not going to change overnight, but this is important. coming up, the chart master carter worth takes us on a journey through three areas of the market to find out where they're heading next. first, netflix and thrill, the streaming stock up more than 30%. can anything stop this one we'll debate that. more "fast money" after this

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welcome back to "fast money. what a difference a month makes. netflix losing steam headed into q-3 earnings stock his fallen but it has been on a tear since those earnings near he are you couping the losses in just a month system there any stopping this stock now timming you flagged this remarkable move. >> it's 35% in 22 sessions since that earnings release that showed probably upside to free cash flow generation that's what separates them you also had a period mixed with other streamers. netflix, from a profitability perspective is so far ahead, also in terms of content and efficiency it's back so to the this was a

relatively attractive valuation. it's not attractive, and at this point i think around these levels, which get you right back to the highs it sold off in earning, i think you're cautious. >> cautious, but i'm not inclined to fight the trend. it's had a remarkable move, and as you mentioned, it really the best house we can argue whether or not the neighborhood is one we find to be attractive, but they are head and shoulders above all other streamers. disney is second only because they have the parks to support them, but that's essentially paying for streaming, getting that business for free the move notwithstanding, i think that 35% in less than a month does give you some pause i'd be more inclined to sell upside calls. >> i'm going to channel my inner karen finerman maybe it shouldn't been down there, an artificial time to judge the move in the stock. >> that being said, karen -- >> are you calling her a karen

>> no, no, no. >> not a karen, karen. this is a compliment. >> in that q-2 print -- over the summer the stock was trading at a new 52-week high, and almost down 30% until it reported that q-3 number and gave that guidance down 30%, up 32% to your point, if you're long it you look to do something to take in -- playing for a breakout here does not seem like a great do in my opinion i think a lot of good news is in the stock. if you look at the valuation it's trading 30 times its expected eps growth, 30%, which is pretty good that ad supported tier and some of the stuff they've done to get back the password sharing, that's all good for margins but one thing i'll say is look at the volatility look at the big gaps there are major shifts in their business right after you think you got it one quarter, sometimes it go another way, too, and when expectations are high, it's not

the best time to be buying the stock. >> what's your best guess, guy >> leave that chart up for a second i'll answer your question, but aisle also say this is a stock that went from $700 to $185 a straight line. we pulled back we're approaching that now there's a good chance we could levitate do that number, but given the move and given it's gone from high teens much toll 35 times next year's numbers, my inclination is if it gets to 480 uh-uh sell and look for a better entry point. here's what's coming up next. >> chockful of charts. telling titillating tales, but what kind of path are they charting now carter worth stops by to do detective work in three key areas of the market. first, another advertiser

stopping its spending on x formerly known as twitter. you're watchin"ft ne we're back right after this.

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yes! the right drinks delivered for any party. drizly. welcome back to "fast money. app it will latest company to pause all advertising on x, elon musk's social media company. the news comes after musk agreed with an anti-submit, posting will this trickle turn into a flood of advertisers taking pause? when does all this start to impact musks after bread and butter, tesla? we discussed this briefly yesterday. started to snowball today.

we put it back in the show tonight. what do you think? >> we'll see we've seen different times where there's been pressure on advertisers on that platform, and clearly it's been lean times for that platform. i think it's a platform that will be brought back but these are major head winds talking about the impact of what it does to tesla the stock because of impact essentially on elon because of twitter is an interesting conversation to have ultimately i think tesla is really -- when we talk about valuations, this valuation makes zero sense to me when there's a lot of pressure on ev, pressure business globalingly all the conversations around china. they need to build their own lithium production source, et cetera that to me the story the news in terms of headlines right now is certainly very provocative. i don't think it's playing right now to the shot. >> this reminds me of facebook when you is an a lot of ads pulling back there, and i would

expect other companies to follow suit, with that said i don't really think this has much to do with tesla if there is a founder that's found that they have nine lives it is likely elon musk he has never been shy about saying controversial things. i don't expect that to change. his posture going forward at all, and i think we need to celebrate tesla versus x it's a private company that -- and moving to -- trying to essentially extrapolate what that means for a tesla evaluation is a freezer. >> it's the same guy. >> it's not the valuation, it's really the leadership, and so when you think about this to me -- i really disagree, and i'll tell you why. we just had a board of a private company push out sam altman for who knows what this is one of the worst things you can do by what he's been tweeting and where he is getting in the mix just think about what's going on not just in our society but all societies about what's going on right now. this is an important thing he's decided to insert himself

in a way that's damaging one company right now, which is twitter. if twitter is only worth the debt he's on the hook for, that $13 billion -- and that could be if this business fall ace part, he has to go become and sell tesla shares, because he's on the hook for the $13 billion in debt there's a lot of implications. you think of the people he's offended through the tweets, they're the natural buyer of tesla. who's buying ev cars the people who are offended by his posture on twitter i think they're very much connected, and i also think there's going to be an increasing call for some sort of sanction or censure or something of him he was, remember, the chairman of the board he got knocked off that for the s.e.c. stuff sooner or later he can't just keep doing this stuff. it's just not how it works talk about nine lives but sooner or later something's got to give. >> yeah. guy, what's your take at this

point? >> i think we would all agree it's certainly not a positive thing for tesla regardless of your stance. it's not a good thing. and he sells things that people want to buy. if there's a ground swell of negativity around him and his products -- clearly that's not good, to tim's point, at a company that's very difficult to justify their valuation. i know we get excited -- the stock went from 100 to 300, and that's what a lot of people were focused on if you go back and look, the high the stock made was i think december of '21 or january of '22. it's down approximately 40% since then that's important to keep in mind in a broader market that's done quite quelwell over a period of time as much as people want to say tesla is a great, thing impervious to stock, it has not traded well the last couple of years. >> it hasn't in the last two days if i told you a ceo of a majorly traded

public company would be considered an anti-semimite and the stock is down 4%, that's not -- shows it is impervious, right or wrong. >> because the people who buy the stock aren't the people who buy the car. to me, this is a cult story, he's a cult leader of that group. you tell me what happens if he's replace. there's a massive premium related to elon musk right now in this stock. if he had to take a breather, go on the beach for a couple months, what happens to the stock? do you think it rallies? >> we have some major news jim che nose is going to be shutting down his hedge fund and returning money to its customers. it has $200 million in management down from $6 billion shutting down his hedge fund, noted short seller who we have had on this network many, many

times, had on the show. >> smart guy. >> speak of tesla, short bet on tesla. coming up, counting down to nvidia earnings. chipmaker up more than 200% this year will it make or break its epic run. this high flier has been on a tear in recent weeks could it be telling a bigger story about the market the chart master will stop by to take a peek at the technicals.

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welcome back to "fast money. stocks closing out their third straight week of fwans in the green. dow, s&p, and nasdaq finishing up 2% on the week. nasdaq up 10% this month the private credit industry, more companies turn to private markets to access funding. still, our next guest says medium companies are largely misses from this occasion. damion gwynne lends to -- welcome to the show. this is a great business to be in you're walking me through the

economics, and you're lending, what, at 13% >> that's what we reported in our 10q last week. it's interesting, because of the fed moving so far so fast, because of inflation and where we are with liquidity and the capital markets, you can get 500, 600, 700 spreads on good companies right now. but i would be cautious. you know, there's no free money, and what matters is the return per unit of risk so where are we on leverage? coverage loan to value? where are we on the -- particularly for the bigger borrowers who are relying on the same handful of firms to lend them money i worry about the correlation, so i like betting on working class people i like betting on all 50 states. the data shows today -- and this

is jarring -- half of private credit goes to just five states. >> really? >> correct so if you're in the in california, texas, florida, new york, illinois, are you getting your fair share of access to private credit is your cost of capital reflective of the quality of its business, its earnings, its debt capacity or is this really a conversation about being in the right place and having, you know, access to the incrowd? >> the small to medium size businesses, though, do you feel like their risk -- it seems like they would be riskier inherently in this environment paying 13% on a loan. >> so, that is the stereotype. the data tells you something else so, first things first -- the addressable market we're talking about is 240,000 companies with revenue of $10 million to $1 billion so that's a lot of companies but guess what, there are 30

million companies with less than $10 billion in revenue when you look at the audited financials to these companies they don't have access to the banks because regional banks aren't at the table and the private credit lenders are focused on the largest of the lot. i'm talking $2 million, $3 million ebitda where they want to lend 50 million plus americans are employed by these businesses controlled by families that are doing the right thing, and they tend to be conservatively levered. >> that's where i was going to go, you think about small, medium businesses, huge employers here in the u.s. if some of these companies that don't have access to the private credit marks, what does that mean for unemployment? we're starting to see it tick back up towards 4% are you getting data out of the trend yourself seeing in the lending markets right now? >> working class people are not

getting the opportunities they need you have on the one hand record low unemployment on the other hand you recognize working class people are living check to check, and their social mobility is flat to down this is a very scary situation the employee benefits being delivered by all these companies do not meet the moment all the data tells us, particularly working class pe people, are underenrolled in company offered retirement benefits and health care benefits if you pause as a business owner and stratify the wages of your employee base from the highest paid to the low interest have a cutoff at that 80th percentile you recognize the bottom 80% aren't enrolled in the benefits to the degree your top 20 are. how do you fix that? then we got to deal with wages in this environment -- it feels like the '70s to me -- what

people are being paid is not enough credit card data, auto loan data, home equity loans -- this is a fraught, scary time for working class people, and i think the government and capital markets need to get on the same page today they're not on the same page. >> damian, first of all, another great hoya on the desk congrats to lafayette square, because your ambition is doing well by doing good give us a peek into credit overall. this has been sexy, euphoric, money going into private lending and, big boys have seen massive runs up. at some point you talk about covenants and where in many cases in the private sphere you see levered companies that frankly had no covets that allowed them to get to four to six times leverage talk about that. >> that's right. the big crack in the business that doesn't get a lot of attention is with the liabilities.

it has become far more expensive and far more complicated to get financing for this strategy. so in the simplest form you raise equity, you raise leverage, and then you provide that capital to worthy businesses raising the equity has worked mainly from retail to a lesser extent you've seen insurance pivot into this. >> yeah. >> but in foundations and pension funds have been a little bit more conservative. they have not flooded in the way the first two groups have. then the leverage. well, guess what all the big banks have pull back the clo business is not what it was. so access to financing for private credit managers has become complicated, and this is why washington, d.c. matters yet again. the small business administration is a reliable source of low-cost, long duration funding to support small business job creation. but note it's small business

sba is not here to support $3 million and $4 million ebitda companies in a single sector. >> thank goodness. >> so we're going to have to private markets, the capital markets get on the same page as the government and we need to have collaboration to get the capital flowing and maintain jobs and get wages up and benefits addressed that is the package. >> damian, thank you so much for coming by. hope you come by again soon. damian dwin, lafayette. >> guy >> i love him. we worked together at goldman sachs. he's obviously a hoya, younger than i am, than tim is he does extraordinary work, and i'll tell you i met a lot of extraordinary people over the years. i put him at the top of the list, and he knows this because i've said to it him many, many times, so it's great to have him and his voice on our show. >> thank you, guy. >> good to have you. thank you, damian. >> i'm fully supportive of finding a way to flow capital to those smaller smbs

as he said, the concentration in term of $200 million, $300 million ebitda, these the beh behemoths. finding smaller owner owned companies, that's the life blood of this american economy, and i'll all for 100% of finding capital. >> where jobs are created. it's main street. >> it is, and lafayette square partnered with some of the big corporates helping land into -- the restaurant industry, for example. it's an exciting time for them. coming up, a retail revolution gap and macy's seeing their best moves in years. later, it's a short but busy week ahead with nvidia headlining reports more "fast money" in two

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welcome back to "fast money. on this night of 1,000 charts we're keeping the inteltechnica takes going. couldn't do it without bringing in our chart master. carter braxton worth is here there were so many particularly in retail. gap, macy's surging, right >> bonanza let's get right to it. there are so many ways to interpret each but macy's of course, is the headline it was

up 32% for the week? yeah stock was $73. it's $14 this is a gift if you're long to get out. let's look at ross ross just a textbook example of what a breakout is good relative strength, bullish price line correlation i think this goes plenty higher. close at 120, applied for almost $135 and then finally, gap hmm a 30% move almost to 32, identical to macy's where has macy's was impetuous, impulsive, rash, this is developmental. this bottomed in may i think it has all the elements of a proper bottom versus a knee jerk and i would be on the long side here. >> we have to do our jobs here, carter you did say to sell macy's ahead of earnings -- >> sell more. >> those who followed your

advice, missed. >> sell now. this is not -- i mean, i would sell more, get more short. >> all right let's get the regionals here the kre up 9% this week, closed above the 200 day moving average for the first time since february what do you think of it, carter? >> it's a important development. if you were to look, regional banks up three that's almost 50% more than the big banks. bank of america, wells fargo, citi financials a sector up three here's the thing, the regionals, all of them adds up to about $375 billion j.p. morgan itself is 441. the question itself, does it matter it's not a lot of market cap this is the most impaired area of the entire equity complex i think you want to be long here. >> wow okay carter, thank you. carter braxton worth of worth

charting dom you agree >> at this time price action in banks this week was extraordinary, especially when you consider getting above key levels the kre above for the first time going into svb, bank of america, citi bank. are the warts still there, the same problems that existed before that cpi number yeah i think relief on the renale banks in term of credit dynamics and everything we talked about in the first part of the show, our chart the reasons why it's had room to rally. had been so underperformed i think sentiment was so poor, i think you stay there. >> guy >> i looked at gap, and last night i thought it would stop at 5, the high we saw over the summer now it's overshot. four analysts made comments today. two raise price to 17. two raised to 18, so obviously here we are right now. but the 50% sort of retracement of that $36 high we saw a couple years ago and the $8 low, maybe it overshoots to 22. i don't think the fundamentals

support it, but momentum in this market is extraordinarily powerful, so that's your overshoot to the upside. coming up, nvidia's notable year can the record run continue? the a.i. darling set to report tuesday. we'll dig into what is ahead for the tech name, next.

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welcome back to "fast money. awe eyesen nvidia. the chi giant has been on a tear, soaring 200% year to date. what should we expect tuesday? >> i expect another strong quarter. this run-up into earnings does give me concern. if you refer back to last quarter when they announced there was a run-up and gave back all of those gains i'd feel bet per there was a bit of profit taking going in, but being that there seems to be exuberance, dare i say a rational exuberance, i'm inclined to pause and then add on a pullback. >> i think there are a lot of people that still feel like they don't have the exposure they want in the a.i. world chasing nvidia to me is tough to

do i will also point out that semiconductors as a group closed at all time highs today. 20% in the last 12 sessions for a group that was already kind of frothy i think this is where bonawyn was, which is you have had a big, big move into these numbers, but i -- we know those numbers are going to be good the question is, how good? >> the analysts community really seems to think if there's any miss or this don't come in extremely strong it will all be because of supply constraints, not the demand issue, and they're willing to overlook it there's that dynamic on wall street i don't know if it's going play out, but seems to be the thinking so far. >> you have a scenario here, there are 63 analyst who is cover the stock. 60 rated by, 3 a hold. this is not analysts investors took from $400 to $500 people next year are going the look at where the valuation stands

maybe expected to grow 20 times greater that be. that we have had smart people come on the show all yearlong and say, it looks expensive, but -- i think the expectations now very strong. 7% move. do the math. >> up next, final trades i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. life is for living.

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want to give you an update on the headlines we brought to you earlier that he is shutting his fund down, manages $200 million down from $8 billion he's only giving back external capital not shutting down the firmle it will now a family office and advisory business he just won't be running an lp. another update on x. more companies pausing advertising. disney is joining app and lionsgate suspending adds. guy? >> marathon petroleum. >> tim >> coca-cola >> bonawyn with your turtleneck. >> xrt had a remarkable run, but

i'm not inclined to chase it. >> nobody said anything the entire show. >> i was going to say -- >> what would you -- >> you know what i was going to say? nice fit. >> at this moment's pfizer interesting. the more you read about orals. >> >> 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 will help you find it. mad money starts now. >> welcome to mad money. i'm just trying to make you money. my job is not only to entertain but to help make you some coin. some things have changed. the market is, for lack of a poetic term, better.