>> i'm cup userious about how m equity sam altman is going to come away with this openai company that's going to be worth $100 billion and $150 billion. re retroactively granted to kind of a founder who hasn't had equity up to this point. never seen something like this before. >> no, certainly fascinated. we will bring details to our viewers when we get them. one of the hottest startups in the world right now. >> that does it for us at "overtime." "fast money" starts right 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 tap tonight. a fork in the road. a vastly different september than upstart tesla. can gm and ford rev up? and the stealth a.i. play far outpacing names like nvidia. we'll speak with the ceo to find out what is driving that stock. plus, micron on the move.

china takes on the parent company of calvin klein. and only 90 shopping days left until christmas. a new estimate on just how much consumers are expected to shell out this holiday season. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and guy adami. we start off with auto stocks in reverse, after a major downgrade. rivian plunging 7%. general motors dropping 5%, while ford fell 4%. the moves coming after morgan stanley downgraded them from attractive to in line. with china producing millions more cars than it buys, it puts u.s. auto makers in a vulnerable position. meanwhile, long struggling tesla has been in high gear lately, rallying 8% just this week. it's by far the best performing mag seven stock so far this month, and this quarter. and is now positive for the year. so, how do you make sense of this auto divergence, tim? >> well, the news, at least,

from tesla, around tesla, their china business has never been better. mr. jonah is talking about tesla as a driver where inventory dynamics, a price kind of headline mix that's not favorable to the legacy oil -- excuse me, the oems, is something you have to worry about in terms of their margin and where the industry is going. he also references that the affordability factor is, i think, stretched, was the word that was used. the u.s. consumer, despite the fact they probably need to buy a new car, is not in a position to buy a new car. so, the downgrades were pretty extraordinary, i mean, if you look at the downgrade on ford was a 25% downgrade in terms of the target price and ford -- excuse me, gm's case, it was 12%. this is kind of a secular call. this is a call that's not happening overnight, but the sense is that china has been doing this for decades, they've been overproducing for decades and that's leading to this 9 million car overhang that's going to find its way to our borders. and it continues to highlight

why china is going to be the focus of a lot of tariff and a lot of trade dynamic that's, you know, very heavy duty in this country. >> so, china huge hinge. affordability. the average car payment is 720 a month. >> yeah. >> a month. >> so, not just secular, i think there's a cyclicality to the call, as well, that we are at sort of, you know, peak profitability on these cars, and that inventory buildup, price -- you'll see pricing pressure. it -- the multiple is still so shockingly low, right? even if, i mean, often we have very cyclical businesses. when you get to peak earnings, you get a low multiple. this is still a really low multiple, but sometimes -- when we see the top of sales, i think the multiple can just stay low. >> ford's been nowhere for a long time, but gm is sort of interesting. $50 has been huge resistance. it traded up there in july. everything sold off into august 5th, traded right back to 50 and

failed, so -- just in terms of exhausting itself after decent run, that sort of makes sense to me. ford, if you look at a chart, feels like it's been $10.50 for 25, 30 years. if you are looking for downstream, i was looking at this this morning on the back of these downgrades, look at vision, which basically has been cut in half since then. but we just traded down to $94, same low we made back in february of 2022, and at nine times next year's numbers, a lot of bad news has been discount into the stock, i think. >> yeah, so, i want to go back to tesla and china. tim's talking about, never had a better quarter, and that might be the case. they've had a few really bald quarters in a row. they had a couple really bad years there. when i think about what's going on there, it's byd. this is a name that's actually trouncing them. they have 37% market share in china. tesla has about 7.5% or so. the average price of a byd car in china, i think, is about

$15,000, $16,000. they have greater range than that. i think tesla is much higher than that. and then you think about how many cars does tesla really sell? they sold under a million cars here in the u.s. they told maybe a couple hundred in china. so, china's not a story for them. they produce a lot of cars there, they are hoping to sell a lot of cars there, but at this price point, they're not going to get there. tesla's enthusiasm has to do with this autonomous day. >> robotaxi. >> right. elon musk has said there's going to be some other things there, they're hoping they're going to get back to this $25,000 mass market car. you know, the -- i guess it was a couple months ago when they basically said, or, there's rumors that they were going to focus on roborobotaxi, not on t mass market. the company denied the mass market thing, but that was the really enthusiasm over the last couple of months. and i just think with the expectations heading into that, if the stock continues to run in that, you know, listen, elon has made lots of big promises, when things are going to be

delivered, full self-driving and the like here. whatever he says about when the robotaxi fleet is going to be out there, it's going to be maybe a year or two beyond that. the last thing, and we talked about it when i was in san francisco. i took waymos. this is crazy. they are on the road. they are doing this thing. so, you have to think that waymo is very far ahead, especially when tesla's been unable to get to that full self-driving. they still have to call it supervised self-driving. >> yeah. the tesla point, though, supposedly they're going to have prototypes, they're going to offer rides to the people that go to this event. that seems like enough to sort of juice the stock from here. >> maybe. i don't know. remember, they had that truck. >> right. >> yeah. with an actual truck -- >> not the cyber truck, the semitruck. i don't know if that's enough. there's been a lot of enthusiasm about the business model for that, for robotaxi. and if they have a prototype, i don't know if that translates into that business model, which i'm a little bit skeptical of.

and i do think it's going to be harder to get deep penetration than the excitement would suggest. >> right. right. >> i just -- you know, part of, again, the jonas call is that the terminal value in the -- i mean, i think, this is part of the secular view, is that ford and gm have no real terminal value left in their core business, in terms of their internal combustion engine business. we don't care that gm is going to make ten bucks a share next year. that's what's karen pointing out. you priced in a whole lot. the key for gm, and ford, but i'll focus on gm, because i think it's the better call, is that if they get their ev losses and they reduce them, at least in the way that the street is predicting, i mean, it's a driver. it's a catalyst to the shares. they're talking about 5,000 bucks in terms of margin per unit, and i think that would be extraordinary, so, i think the cyclical part of this story, something we don't really know, i think it's fair to say the u.s. consumer is stretched.

but if you get back to where these cars are priced, they're priced for cyclical headwinds. they are priced for no one expecting them to have a business beyond their current one. >> at one point within the note that i had not thought ofat all, you mentioned the ev business and paring back the forecast, being in that business, and that's seen as a good thing for now, but actually down the line, they could face penalties for not being in line with emissions standards. and that would be a draw on liquidity. i had just not thought of it, not connected the dolts dots al way to that point. >> yeah, that's down the line. if you throw up a tesla chart, $273 is where we stopped in september of 2023 or so, so that should be huge resistance, and, you know, it's going to be interesting, we don't talk about politics here, but it's pretty clear that elon musk is all-in on one candidate, clearly, and if the election were sort of go the other way, i wonder what happens to tesla stock. i think some of this rally is predicated on the fact that he's put all his eggs in the former

president trump basket. >> and detroit has gone heavy into hybrids, and elon has made the point, i think he did it on a call this quarter or last quarter that he does not believe that that is going to be the solution going forward for evs, and i guess because detroit did so poorly in evs, they were losing so much money in it, they've kind of leaned back into hybrids, and talk to anybody out there, you know, like, most people have a lot of range anxiety. i had one of these things, a ford, it was a great call -- >> very honest admission, dan. >> no, that's not -- there's a different anxiety. at your age, i can see where you're going with that. >> anyway. >> i'm still pretty good here, so, i would just say that -- it will be interesting to see how the hybrids play out. because i think in america, i think there is a desire for both of these things right now. i think a lot of early adopters went for teslas. some were trying to stick with their ford or gm and they're just not there yet. >> moving on here, regulators in beijing probing calvin klein

parent company pvh over its refusal to source cotton from chi china's region. our eunice yoon has the details. eunice? >> hemelissa, chinese commerce unit is investigating pvh for what it calls boycotts cotton and other products would any fall factual basis. pvh could end up on a security back list. sfour years ago, the clothing group announced it would remove the cotton from its supply chain to abide by a u.s. customs restriction linked to concerns of forced labor. that's why the timing of this investigation is raising speculation that the chinese government may be retaliating for recent biden administration action aimed at china. shutting down an exemption for low value shipments, requiring the sale and import of smart cars that use certain chinese

tech, and raising steep tariffs on chips, steel, and evs. pvh says it is in communication with the ministry, but the probe has shocked the broader business community, which fears the chinese government is attempts to force companies to flout u.s. law, or face penalties in china. the eu chamber of commerce commented that the move puts international companies between a rock and a hard place. melissa? >> eunice, thank you. this seems like just a little appetizer of what could be to come, this en entire thing. it's problematic and only going to get worse.

>> there were other -- remember back in 2021, there were a number of other retailers who said we would not buy cotton, source cotton from this area, including nike, h&h, zara's parent company, and all of a sudden, this issue comes up now with pvh. it's sort of -- it's interesting timing for them to sort of revive this issue -- make it an issue. >> i don't know why, actually, why were these guys, you know in the cross hairs, i'm not really sure. asia's an important part of their business. europe is much bigger, but still, i don't know, 20 %-ish of their revenues. that would be somewhat of a hit. i don't know -- they both import and export to china. and so i don't know if -- it seems to me they are kind of shooting themselves in the foot by -- they're sort of inviting people to go elsewhere, right? to move manufacturing elsewhere. if you're going to be faced with these kind of seemingly random -- >> right. >> penalties or -- we don't know exactly what it would be.

we already say this starting during the pandemic. >> sure. >> right. vietnam was a huge beneficiary, india. so, i don't really understand the strategy, actually. >> yeah. >> well, it's -- i think you're hitting the issue, i mean, this is -- pvh is an international company, and they have fx risk, they have dynamics here, the not the same risk that other peers have. they trade five times ebitda which has been a major selloff going into this picture. i think some of it is cyclical, some of it is just the dynamics we've seen in discretion and apparel. i think the company is priced pretty attractively. guy, i know you wear a lot of calvin klein -- >> you know, again -- you bring that up, like that's a derogatory thing. there's nothing wrong with calvin klein. >> nothing gets between you and your calvins. >> precisely. in that movie, michael j. fox went back to the future. he wore calvin kleins. worked for him. >> look good. >> back to business here.

let's get more on where u.s./china relations stand, with lee land miller. great to have you with us. in regards to pvh, the investigation of pvh, do you think this is part of a tit for tat at this point? >> well, it's muscle flexing. either the chinese would do tit for tat if they could, but the reality is the u.s. and western -- and the west writ large have much more leverage over china than china has over, you know, the united states, for example. so, the u.s. has a larger trade sur surplus, it has control of the dollar payment mechanism, it has advanced technology that it can ring fence from china. so, china doesn't always have the ability to tit for tat, which is why there's not usually a reaction to everything the united states or western governments do, but ultimately, they have to flex their muscles every once in awhile, say, look, we do have leverage over you, and one of the biggest points of leverage the chinese have is sales of western companies in china. and they can shut that down. and i think every once in

awhile, they try to teach a lesson to say, we are not without levleverage. pain will come to you, too. >> can you put this into context in terms of stimulus efforts? we heard about the first tranche of stimulus overnight, the day before, and another tranche today, where they're actually going to be paying -- part of it is paying poor people, actually direct checks, direct money, which is sort of a departure from what they typically do. where -- how vulnerable is china, given what it is doing? >> well, the economy is weak, and it's been getting particularly weak in the last, you know, couple of months. so, there was a little bit of worry on the ground. but i think what this is is an attempt to boost sentiment. i don't think that the leadership in beijing stays up worrying about the state of the economy as a tier one issue. i think they don't like that it's not doing very well, but it's not collapsing, it's not doing terribly, it's just not doing very well.

so, every once in awhile, they have to step in during this protightening of credit that's been going on for years and show, the government's still here, there will be policy support. and so, they stepped in on credit, they stepped in on property, they stepped in on stocks, they stepped in a little bit with giving money to households, and to show, look, there will be a policy response to weak -- to weak results. i just wouldn't read into it, you know this is not a bazooka. >> leland, how about china's approach to their own company? part of the discount to chinese shares has been a function of chinese government beating them down. any thoughts on whether there's been a policy change? or are there sectors, they at least might be more in favor. how about china? >> well, certainly, over the last several years, the focus of credit, and focus of government policy support, has been in advanced manufacturing. it's technology. xi jinping made it very clear that he wants china to win the fourth industrial revolution, which means dominating the

sectors in the future, a.i., quantum, robotics, biotech. so this is where they're focused on from an economic and national security standpoint. that doesn't mean they can do it efficiently, it doesn't mean, you know, it's easy to move into these sectors. they're throwing a lot of cash at them. but on the western side, particularly the united states, they are ring fencing the ability to put capital into china that's inching its way forward. their export controls have increased, so, it's not just so easy to invest in these sectors. if beijing wants you investing in these sectors, it probably means the western government doesn't. >> china/taiwan, china/singapore has been an issue for a long time. is a weakened china less or more likely to do something in those two areas? >> this is the big debate. one of the worst case scenario is a china in extraordinarily bad shape and needing to wag the dog and doing something. but look, all of this is speculation.

it's about making sure that, you know, i don't think a collapsing china is good for anybody, but it's about making sure that the united states policy, in particular, is not signaling, you know, leaving asia, leaving the taiwan to their own devices. you don't want to give an opening here. i think you want to make sure you keep deterrence at a very high level so you're not luring beijing into doing anything it otherwise might not do. >> should there be any concern that one of the weapons in china's arsenal is a taiwanese company, maybe something like a s taiwan semi, which holds the cards when it comes to a.i. chips? >> well, look, if taiwan semi conductor goes down, then there's going to be a cataclysmic world recession around it, . so, these are -- these are not moves, i think, that beijing knows it can take lightly. this starts a process that unravels the world economy. so, yes, it's a vulnerability.

it's a vulnerability for western supply chains. it's a vulnerability for the whole world. and i think that's why there's so much focus on taiwan right now, because that's really the most dangerous place in the world, when you think about where geopolitical tensions could really go out of control. >> leland, thank you for joining us. always great to get your take. >> pleasure. >> all right, so, what do we think here, tim? >> that -- those were powerful comments, and i think we talk about it, but that really did put it in the center. i get back to what happened yesterday and the rally in chinese stocks, and i would zer. i think there's a huge opportunity here. we're treating like macao that it's not one of the global tourist centers. i look at the wynns of the world, the chinese dedicated names, and there's a big opportunity here on multiple. you don't need the chinese economy to structurally change to see those rerate. >> wynn definitely bearish to bullish reversal. fxi traded up to the may highs, about 30, but i think fxi is a

buy here. coming up, shares of micron on the move. the details from quarter is next. and it's never too early to get into the holiday spirit, especially when there could be a lot for retaers ilto look forward to. the record-breaking numbers one xooe is predicting this season. don't go anywhere. "fast money" is back in two.u g that's a pretty good burn, right? okay, team! oh, thank you so much i couldn't have done it without you. honestly, i don't do a whole lot here. i'm really just here for the at&t internet, it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories just during our last video call i'm learning a lot

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welcome back to "fast money." micron stocks soaring after reporting beats on both revenue and earnings. the company giving bullish guidance for the current quarter, citing robust a.i. demand. seema mody joins us with the latest. hey, seema. >> the ceo saying micron's high bandwidth memory remains sold out, and seeing the total addressable market growing from approximately $4 billion in 2023 to 25 billion in 2025. now, one of the reasons my ron has underperformed in recent months is due to the ongoing weakness in the pc market. this is also affected its competitors, memory space like samsung and sk hinix. on pcs, he says volumes remain on track to grow in the low

single digit range for calendar year 2024, with growth expected to accelerate in 2025, as we says the pc replacement cycle gathers momentum. shares of micron are higher afterhours, but still down 20% in the last three months. melissa? >> seema, thank you. seema mody. just about three months ago, or so, was its high. >> yeah. we were talking about it last night. it's kind of a hard press to the downside, given how much the stock has sold off, about 40% from those recent highs. again, it doesn't really matter what the recent highs were, other than the fact that there was a bit of euphoria in and around this name. when i look at the quarter they just reported, they beat $111 in earnings, that came in at $118. not a huge beat. the revenue beat was even smaller on a percentage basis. they guided revenue at the mid point of consensus, so, i find it really curious why the stock is up so much. they better have said that there's robust demand for a.i., because that's the only reason why this stock has been moving

the way it has. the volatility. so, again, i think expectations were really low, it came up above that, they set a couple of the things that i think investors wanted to hear, but is it worth 13%, 14%? probably not. >> it's interesting to hear if they talk about pricing, because d-ram and nan pricing, analysts are expecting some sort of trough, if that materializes, it's off to the races -- i don't know if they talked about that. >> part of the move in micron, there was a moat around their business that removed it from the commoditized business that it had largely been for a long time. i don't think there was anything that extraordinary. i was here yesterday not expecting a lot, so, i wasn't expecting a 13% move, though we did point out the move in the stock. i would say these comments, to me, are kind of cheerleading. it's what we've heard from them in the past, talking about a.i. and demand coming for the higher memory chips. we know that's there. and, you know, the addressable market prognostication is

something that, again, seems to me what they've done in the past, and it's moved the stock. >> kudos to cocoa b. ware. >> mike khouw. >> people know that. he was talking about this last night. the average price, they guided mid teens, the street was at 12.5%. that's good. but the bounce after the august 5th low, everything sold off on august 5th, $109. so, we're up against that prior high a couple weeks ago. this is where it should stall out. all right, there's a lot more "fast money" to come. here's what's coming up next. >> a holiday shopping season for the record books. just how many billions of dollars could be coming down the chimney this year. and what experts are predicting will drive the big surge. plus, silver lining trading. why investors are feeling so optimistic about the stock market. and where their biggest concerns lie. the latest on investor senmetint ahead. you're watching "fast money,"

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welcome back to "fast money." we're just 90 days away from christmas. we are breaking out the sleigh bells, putting together our holiday shopping lists. we're forecasting cob sumers will spend $240 billion this year. the biggest increase since 2019. steep discounts on electronics and sporting goods driving those gains. the report also forecasting buy now, pay later purr chaspurchas rise more than 11%. wow. that's robust, karen. >> that is robust. 11%. i mean, we were talking about affirm -- there's lots of buy now, pay later, but good for them. i'm optimistic. i think people still, even though there's a tick up in unemployment, they're employed, and costs have come down and i think the -- the election will hopefully be decided by then, and i think these are going to -- into holiday with inventory in pretty good shape. all that bodes well for the holiday season. >> right. and then, think about the people who might be refinancing.

i don't know if you caught that bloomberg article about refinancing. if you refinanced in the last week, the average savings for a $368,000 loan is $4,000 a year. >> and the refi is at the fastest pace in 2022. the wealth effect from the stock market. so, these are huge factors for holiday spending. for someone who has been concerned about consumer discretionary, i definitely have, and some of this is brand specific. some of this is sector specific. so, that's the real question. where is the consumer going to be by the holiday season when you have these two backdrops, energy prices are cheaper, they're paying less at the pump, there's a lot of tail winds here, despite the fact i think they're tapped out. >> walmart, another all-time high. watch how well they do, i believe, i can't even believe i'm about to say this, in this now holiday season that we find ourselves in. >> is it now? >> i won't do that. sandy -- you do it just to agitate -- holiday season, just so we're on the same wavelength, it starts the sunday after thanksgiving. okay? just so we're all onboard here.

that's when 106.7 starts playing christmas music nonstop, all that stuff. until then, i don't want to hear about it. >> starbucks has their holiday cups, probably going to be out in mid-october. right after halloween. >> it's not problematic for you? >> it's distressing. i tweet about it how it gets earlier and earlier. >> a big part of this is important to realize, to guy's point, the holiday season has just extended and extended and that means more promotions -- >> and shopping. >> when i hear affirm or buy now pay later is up 11%, it doesn't give me a lot of confidence in the health of the consumer, despite what you're talking about. i don't think people who are refinancing their homes are using affirm to buy christmas gifts, you know? so, it goes back to how we talked about these two different economies here in the u.s., and, you know, moving up to 4.2, maybe 4.4, what is fed is targeting by year-end, you know, you have a lower income consumer having a hard time right now. coming up, shares of caneco continuing their run.

what the ceo had to say about the space. but first, glass half full investing. why there's so much optimism in the markets right now. the concerns that could ruin the party. the it laest read on investor sentiment, when "fast money" returns. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this. is there going to be anything... -left over? -yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! with empower, we get all of our financial questions answered. so you don't have to worry. empower. what's next.

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welcome back to "fast money." stocks taking a bit of a breather today. the dow falling 300 points, snapping a four-day winning streak. the s&p down 0.2%. the nasdaq managing to eek a tiny gain. draftkings and flutter both jumping today. flutter's ceo telling "squawk on the street" he believes they are winning in the space and focused on using a.i. to deliver a better experience for the customer. and shares of nrg surging afterhours. raising ebitda and cash flow guidance for the year. meantime, despite today's pull-back, the major averages bucking history and on space for a strong september. the nasdaq, in fact, seeing its best september since 2013, and a new survey says that investors are the most optimistic they've been all year.

let's dig into the data with editor in chief caleb silver. it's great to see you. >> thank you, good to be with you. >> so, the most optimistic all year, was this done after the fed decision? >> yeah. >> is that part of it? >> yeah, we did this after the fed decision. investors are feeling good. very good. the highest optimism we've seen all year. 71% call themselves either optimistic or cautiously optimistic. only 19%, hello, are expecting a correction in the next three months, and less than 20% are skeptical. so, you have the positivity going on with individual investors. >> they are doing construction, and that's the noise that you hear, it's not a sound effect that we bring -- >> i thought it was my heart. >> seems like a good time to start that construction, right now. >> during a live tv show. in terms of what they're investing in, is it the same story? in the word cloud, nvidia is prominent. >> yeah, rising to the stop of

the most popular stocks held. these are individual retail investors who like putting money into work, but they chase big stocks and super faithful. what was really notable this round is a lot of people moving towards etfs. that's where they've been lay locating for the past six to eight weeks. that's very rare. buff it shows you, maybe they got tired of chasing the big stocks, wanted diversification. maybe they want to be a little bit more spread out as those rates come down. >> buying into sort of this widening, broadening of the market rally. >> that's right. >> okay. >> i mean, that's distracting. >> it's really distracting. >> caleb's a pro. i'll ask you this. given that, you know, we're at record optimism in terms of the survey, historically, has that been a sign of anything, or, you know, in other words, is that the sign of a top? >> we used to say that, right, on that side of the boat, you're going to see a little bit of tipping this way. used to be a pretty good contrarian indicator. i used to feel that. i'm worried about it myself, but you can't ignore the relentless bid, as our buddy josh brown

likes to call it. individual investors are putting money in the market. active retail investors are putting money in the market, now through etfs. but they've been buying the big stocks, too. yeah, we get pull-backs. we did the survey after the big pull-back last time. they didn't get scared. they kept buying and they've been rewarded. >> what are they doing with gold? gold's outperformed the s&p dramatically. you pick your time period recently, and gold's the man, so, what -- what do they think? >> back to melissa's favorite yes, what would you do with an extra ten grand. gold finally cracking the top five here. >> wow. >> not that many, but 7% saying i'd buy gold with an extra ten grand right now. you wouldn't have been wrong to have done that six months ago, a year ago, who would have thought? but gold back on the menu for investors, along with individual stocks, which topped the list. >> it's so amazing, individual stocks, nvidia, and yet, another part of your survey finds that most people think that a.i. is overvalued. >> yeah, they'll bile ouy overv

stocks. that's not stopping them from wanting them. you would have been wrong if you turned your back on them. there are a list of stocks they hold the most, doesn't change that much in terms of the composition, but the top leadership has changed a little bit. that's interesting to watch, as well. >> all right, caleb, great to see you. >> thank you. caleb silver, editor in chief. what do you make of the optimism? >> i love his stuff. the way i think about, you know, the qqq, the etf trade that he's talking about, that's a great way to play a.i. the top ten names of that 100-stock etf are all very much exposed. the other 90 are going to get there, because the technology is going to work themselves into their business processes and the like, so, to me, i think that's the way you play without the risk of one of the names. >> remember "apocalypse now" -- >> i believe that we are safe where we are. it feels like it's right above us. >> the chopper waiting to pick me up. >> all right. i feel like it's a good time to take a break. coming up, the nuclear trade is

on, and shares of caneco feeling the energy. what the ceo is saying about the space, next. "fast money" is back in two.

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welcome back to "fast money." cameco shares topping the tape, bringing gains to more than 18% in just the past week. the ceo joining "closing bell overtime" in just the last hour, speaking about how his company is responding to uranium demand shifting away from russia. >> as they phase out, they're coming our way. and they're looking for more uranium and conversion and enrichment from the west. so, we're wrapping up our facilities in canada, we are ramp up our macarthur river mine, we're doing that over time, and then cigar lake. so, as i said, we will match the demand as it comes. >> recent nuclear trade rally coming as big banks and big tech line up to back the industry. 14 of the world's biggest banks including bank of america, goldman sachs, and jpmorgan, have vowed to triple nuclear

capacity. and microsoft announced a partnership with constellation energy that will bring three mile island back online. so, what a week it's been. can this last, tim? >> i think it can. and this is also a day when you hear that a.i.'s, you know, in washington talking about data centers and how we need to build these 5 gig data centers, we need five of them, and they're big enough to actually drive electricity for, you know, entire cities. so, i think the -- the power dynamic in this country and capacity needs, and in infrastructure buildout, where we existed esterday, before a.i., before data center, i think was something that was very supportive of the uranium trade. global politics, global awareness, global understanding, i'm just going to say it. again, those concerts were a great time and great music. i think some of this was offbase. the reality is, it's a volatile trade. you're going to see squeezes. you're going to see the price squeeze higher. you're going to see it go lower. if you look at ccj, a name i've been long for a long time, it's hardly cheap. if they're lucky, they're going to make a dollar a share this

year. you can do the math on the share price. it's a trade i would stay in, like the gold trade, because on some level, there is a relationship between all of these trades. >> yeah, in terms of what microsoft is paying, jeffries came out and said microsoft is doing an amazing thing, a game changer for the power industry of what they are paying per megawatt hour, 100 to 140, where the going rate in that region is 40. with all that money, you think, what happens with that -- i mean, does pwr, which you talked about the other day, does it benefit from sort of this money flowing into the sector? >> well, i'm not sure how much they deal with uranium, per se -- >> in terms of building out -- >> this giant power project, everywhere, yes, they definitely do. and they also -- both ele electricity and renewable. i don't know about uranium, per se, but it has to be good for them. >> look at the vst. the stock went nowhere for ten years, look what it's done over the last six to nine months. it is basically a straight line

higher. and the geopolitical -- putin will say, maybe we'll restrict exports. see what happens on that. sruuf still works, ccj, despite the fact that it's a huge valuation. i think that works, as well. coming up, a stealth a.i. play surging more than 200% this year. the ceo joins us next to lay out how his company is helping serve customers with the tech. and don't miss an interview with rk cuban, that's tomorrow on "squawk box," 8:30 a.m. eastern time right here on cnbc. more "fast money" in two.art in h seeks to help investors achieve better after-tax outcomes. pgim investments. shaping tomorrow, today

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...instead of for where you are most of the time? xfinity mobile was designed for where you need it most. xfinity internet customers, ask how to get a free 5g phone and a second unlimited line free for a year. welcome back to "fast money." meta announcing a slate of hardware products and a.i. tools at its connect event today. the products include the latest version of its vr headset, upsets to its ray ban smart glasses and an update to its orion glasses. and the meta a.i. chat bot can vocally answer user questions. users can pick from celebrity

voices. >> that's some collection right there. >> do you think it should be including you? >> look, i -- i would never say that. if we can make that available, if we want it. >> meta shares closing the day at a record and it's been quite a run for meta this year, karen. >> they didn't close on the high. it was up, i don't know, $10, $11. i thought some of the a.i. interface stuff was more interesting than the glasses. and just how -- how and verve tizers are really going to be able to use this to generate more sales and how meta is going to use it to be able to generate more advertising income. on reels or -- >> but it's not even just that. that's the advertising side of it. there was a report the other day, most people using meta a.i., tim, whatsapp, a platform that has a platform with over a billion users, it's going to go business to consumer. they have a lot of opportunities with meta a.i. we're not talking about that lam ma model, but it's open source, and we're going to hear a lot more about it. shares of a.i. cloud marketing company zeta global

have soared more than 230% this year. far outperforming darlings like nvidia. for more on the state of a.i. and the novel ways companies are using the technology, let's bring in zeta global ceo david steinberg. you founded your company before a.i. was a buzz word. >> i joke, we founded our company 15 years ago, we pivoted it hard into the a.i. ecosystem seven years ago, not to be confused with seven months ago, where a lot of the guys have sort of come in. >> right. so, where is your advantage in using a.i. to sell ads and marketing versus other companies that have sort of been newer to the game? >> i think the difference is, most of our competitors have built their algorithms outside of their platform. so, if you have a marketing cloud, you have to step out of the platt tomorrow to do a query, then you have to go to a data system, make a decision, go back there. that latency destroys return on

investment. we rearchitected our entire platform to put data and a.i. as native to the application layer. so, we can make a decision in a millisecond, where as our competitors have to make a decision in many seconds. you know, 7 to 9 seconds m and it allows us to put more variables in to create better return on investment if our enterprise clients. >> what does that mean in dollars and cents in terms of milliseconds versus seconds? >> yeah, so, there was an independent study that said for every dollar in enterprise an agency spendings in our platform, we return to $5 to $7 in return versus our competitors, that are $2 to $3. >> wow. what are you seeing right now, just in general, in the online ad market? >> well, i think we're seeing the advertising ecosystem grow. it should grow low double digits this year, and as we look at it, and, you know, we recently reaffirmed -- i'm supposed to be

careful here, recently reaffirmed our guidance at this quarter for a 35% organic growth rate, so, feeling like we're obviously growing much faster than the market itself. >> david, you and i met seven years ago when you were still a private company and you did describe the pivot that you just mentioned heard in a.i. -- >> i believe you told me i was crazy at the time, dan. >> i think a lot of folks weren't really focused on it. so, now, your point is, there's been, you know, 7 months, 17 months, there's been a sea change. you have a murderer's row of ceos, cmos and the like. what are they saying about the opportunities here? because, like, are they pivoting their businesses now? >> everybody is, yeah. so, i mean, if you -- when we look back ten years from now, we're going to say that the renaissance moment, dan, in a.i., was the launch of chatgpt. not because very large enterprises are using it yet, but because it was the moment that a.i. went from science fiction to board room conversation.

and boards of directors are going to their ceos, saying, what's the a.i. strategy? they're going to the cxos, saying, what's the a.i. strategy? what we're doing tomorrow at zeta live, we're talking about, how do you fill fulfill on it? so, if you look at the promise of a.i., one side of the trade is efficiency, one side of the trade is revenue growth. there are very few platforms that have delivered on even the first one, let alone both. you know, we like to say at zeta global, we're able to deliver not just on efficiency in a meaningful way, we literally help our sbir prize clients lower their cost to create and maintain customers, by up to 50%. we're also helping them grow faster, and at zeta live, we're going to have a lot of people talking about, how do you do that and how do you really action it? >> david, great to have you with us. hope you'll come by again. >> would love it. only a few blocks. i walked. >> perfect. see you tomorrow. just kidding. >> on a day they gave guidance,

priced at $23.50, and it went strod theirly well. i'm sure there was tredaon, piti given the run the stock had. now, from $23.50 to $29, that speaks volumes. up next, final trades. deliver global financial solutions. so our client can keep investing in innovations for patients around the world. without pause. for the love of moving our clients forward. for the love of progress. (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish.

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this happens. socks! no! that happens. hey! get out of there! charlie's up to bat, and the pitch... oh that's gone! home happens. be there with ring. learn more at ring.com. it is time for the final trade. timothy? >> uranium. it's your friend. ccj's had a big run. i think the squeeze continues. stay there. >> chairwoman? >> yes. meta. i love the company, but it's had a huge run, so, i have to sell some upside calls, and i bought some downside puts. >> dan? >> options action over there from karen. micron. it's up 15% in the aftermarket.

good quarter, good guidance, probably not this good. >> so? >> i would not chase it. sorry. >> okay. guy? >> met fans at the edge of their seat as rained out today and tomorrow, tim. >> i'm not a weatherman. whatever. bring it on. >> no, but it's -- >> come on. >> it's -- >> do you my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always work summer, i promise to help you find it. "mad money" starts now. i'm cramer, welcome to "mad money", welcome to cramerica, i'm just trying to make your little money. my job isn't just a entertain and educate, i want to teach and explain internet i'm doing it, call me at 1-800-743-cnbc or tweet me @jimcramer.