and welcome to "power lunch." your money, powering up again. it is part of a nice turnaround for the end of year sell-off. we'll tell you what could happen today that has not happened in more than 20 years. >> i don't even know what it is,

but i do know that we're well off the highs. so while you're all excited, brian, about how we're -- and the nasdaq is good, but look at the dow. we're barely positive. you've got to watch those yields. the nasdaq is leading with chip stocks leading the way today. foxconn had strong earnings. could be a sign of continued strong demand. again, elsewhere, a little bit more muted. but nvidia is rising and getting close to that all-time high ahead of jenson huang's keynote tonight. it's neck and neck with apple. and he's out. canadian prime minister justin trudeau quitting as head of his party, as the global reckoning over elections continues. >> or people would say, the affect of trump's election continues. and whether or not it has a linear affect, it's clear that the relationship between the u.s., canada, and mexico will be one of the most contentious things of the next couple of weeks. >> and we're going to get to more on trudeau, by the way. they'll blame everything on trump and tariffs. let's be clear, justin trudeau

has been in trouble for a long time. >> was it freeland who stepped down last month. >> chrystia freeland stepped by. luckily, i have a canadian cousin. he fills me in on canadian politics. we'll hit all of that and more over the next hour, but let's start with a fight over tariffs. this fight not on capitol hill, but kind of in the media. trump denying a "washington post" report that he will scale back his planned tariff policy. now, "the post" saying that trump's tariffs will only apply to certain things. if true, that would seem to be a scaling down of his campaign plans, but trump being trump, hitting back, saying reports are simply not true. let's try to figure out all of this, what's going on here, and what does it possibly mean for the markets and your money? with us is wendy cutler, who has worked on trade deals for nearly 30 years as the office of u.s. trade representative currently a vp at the asia society institute.

wendy, trump's denial, the report, notwithstanding, how do you see tariffs right now? where are they going to zpart where do you think they will end up? >> well, i wish i could answer that definitively, but i think we're definitely going to see tariffs, and there's clearly an internal discussion in trump's team about the application and the scope of tariffs, with trump wanting a broad application, a broad scope. and some of his advisers recognizing that that can end up hurting the u.s. more than our trading partners. >> yeah, listen, "the post" reporting one thing, trump saying on his social media platform, it's simply not true. again, without stepping into the quagmire that is the media fight that really is kind of the trump show, is there a place, wendy, where you and your team believe that tariffs are the sweet spot? in other words, is there a

number of at which, yeah, you punish cheap importers, and you bring jobs back to america, but you don't punish so much u.s. consumers, who ultimately may be forced to pay those higher costs. >> mm-hmm. look, there is a time and place for tariffs. in fact, we have trade laws that allow the imposition of tariffs, but those are based on objective long-term investigations to make sure that our trading partners, for example, are not pursuing fair trading practices. with respect to your question, the lower the tariff, the better. there's not really a sweet spot and it varies product-to-product. because remember, a lot of products already have tariffs on them. and trump's tariffs would be additive. and so, they are just going to jack up costs, not only for u.s. consumers, but for u.s. businesses that rely on inputs, materials, machinery from outside sources. >> wendy, do you think there

needs to be a kind of global rebalancing away from the, the non-system system of the past 30 years, which was basically once china started to value it -- do we need to move into, are we moving into a different era? and are tariffs a plank of that. >> we absolutely are. and i believe that there should be some rebalancing. but there's ways to rebalance, and i would recommend a strategy where we work with other countries towards rebalancing, versus just telling them, guess what, as of tomorrow, your imports are going to face a 20% duty, a 20% levy. that's not consultation, that's not cooperation. >> even going back to the -- look, we talk about cooperation with china, this is the same country as "the wall street journal" just detailed. their insider phone systems, their insider ports, their inside key western infrastructure that might be involved if there was an attack on taiwan, i think we all realize at this point, we're

not -- this has been a sort of low-grade trade war since 2018, including throughout the biden administration. >> look, when it comes to china, we're clearly on matchup more solid basis to impose higher tariffs. we have a section 301 investigation, that was concluded, allowed trump to put tariffs in. and in fact, he can use that statute to impose more tariffs. my comments were more on rebalancing with other countries, our allies and partners, like korea and canada and mexico and europe, like, the notion that we're going to be hitting them with high tariffs and then seeking their cooperation on other issues, it just doesn't seem to make sense to me. >> right. and we'll see if it goes in that direction, or, again, if there's an element of truth to these reports, at least, that it could end up being those that are more essential or less broad-based or universal. wendy, for now, thanks. appreciate it. let's talk about the impact of tariffs on currencies. the dollar was down 1% earlier,

but it's paring those losses and still at high levels. kathy lien is managing director of fx strategy at bk asset management. kathy, the gazillion-dollar question is when is the dollar going to stop strengthening? >> i think it's going to come if the forum of weaker u.s. data. that's really been the singular support for the greenback, because we've got, you know stronger data, basically, reducing the chances of any meaningful interest rate cuts in the federal reserve this year, only 50 basis points is what the dot plot is telegraphing. so until we get some consistently weak data, maybe in non-foreign payrolls, maybe in ism services this week, i think that the dollar up trend will remain in place. anything that could cast doubt on the outperformance of the u.s. economy will pose trouble for the greenback. >> i think that's a fair point. but right now, it seems like what's happening is we're seeing global currency adjustments based on anticipation of tariffs, as well, don't you think? >> yeah, certainly. today, the greenback, like you said, in the stock market, moved

or erased some of the prior moves on the back of the denial of "the washington post" article by trump. tariffs is a big deal. we saw it back in trump's term, in november of last year. how these tariffs headlines can really impact the markets. we saw a good example of that today as well. and that's a taste to come of the volatility that will come from not only tariffs themselves, but every single piece of headline that hits the news on whether he's going to back off, press forward, fx market. >> i'm trying to think through this for a second. ever since his election, the dollar has just rocketed, right? if his team, and i've read some of the work that the nec guys and others, if they're concerned that the dollar is too strong, and it's only gotten stronger since he was elected, in part because of what these planned tariffs are, what can be done to actually lower it? do you mean what i mean? what do you do? shuler, no one wants a weaker economy. >> right.

i think at the end of the day, it really boils down to how much pressure there is on this tariff issue. what i mean by that is, is he going to have kind of very consolidated tariffs on certain sectors or will it be those blanket tariffs that he says. and i think depending upon, you know, how widespread it is. that's going to have a direct impact on the dollar. also, as he starts his term, what's his primary focus in the beginning. will it be taxes, tax cuts, and deregulation, or tariffs and trade wars. where is the quick wins that he's going to be looking for and where he places those quick wins is going to determine whether that's going to be near-term positive or negative for the dollar, whether the tariffs is front and center or tax cuts and deregulation. >> indeed. >> kathy, a real pleasure to get you on. thank you very much. we have got a long way to go, and after the break, something just happened to boeing that has not happened in five years. what that is, ahead.

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welcome back to "power lunch." a bullish call from barclays this morning on a name they haven't been positive on since 2019. the firm upgrading boeing to overweight, raising their price target not by much, but from 210 to 190. joining us now for the man behind the call, david straus. it's great to have you. the share price now versus this company has a lot to make up. why do you think that now is the year that they can start to do that. >> sure, thanks for having me. you know, the turnaround, you know, to be fair, the turnaround has a long way to go. but boeing has made significant progress in some of the things that we were looking for. first of all, they went out and

raised $24 billion in equity capital. the balance sheet now is, you know, in much better shape than it had been. we had long thought that boeing would need to raise equity. the balance sheet is no longer a head wind. and second of all, expectations, you know, that the company that it said, as well as consensus expectations, we thought, in terms of the recovery, particularly around free cash flow, were just way too aggressive for a number of years. and the new ceo, kelly irpa, when he came in on his first call, he dramatically brought down expectations for cash flow next year. so we think that the trajectory that everyone is looking for now is a lot more realistic. as we said, the balance sheets are in a much better spot. but no doubt there's a long ways to go here. >> this might seem like a strange thing that i get fixated on, but evidently, they were supposed to do a new air force one during trump's first administration, and the plane won't be delivered until the end of his second one. i understand it's a special

situation, but sometimes i think it's emblematic of the morass that boeing has become. you know, the share price being indicative of some of those larger challenges, do you think they're able to really start tackling like the entire, i don't know what you would call it, corporate culture at this point? >> well, we think an important step in that direction was hiring an outsider. so the new ceo came from the outside. he was ceo of rockwell collins, a big supplier into boeing. we had long thought it was imperative to bring someone from the outside to be able to change the culture, which is very important here. and as you highlighted, they've had missteps not only on the commercial side, but on the defense side. and a number of programs including air force one, that they'll have to work their way through. and like i said, this is for aer from a complete turnaround. we're still in the early days, but we think the set-up from here is pretty straight forward.

most importantly, they need to produce and deliver more max airplanes. that's mission number one. if they can do that, we think this becomes a bit of a momentum story. there's decent upside. you know, keep in mind that is less than half of its all-time peak high. >> you know, the bull case is pretty easy on boeing, which is, tina, there's no alternative. there's airbus and boeing for large jets. you have elmber air, bombardier, china coming into it, but those are smaller mid-sized jets. larger jets, you buy one of those two, that's kind of it. the bear case, a little bit harder, david. do you feel like boeing has fixed what many view as a management culture that has gone wrong? is that fixed with kelly ortberg? >> yeah, so you're right. in terms of highlighting the demand environment, the airlines need 1,500, 1,600 airplanes a

year. and right now, they're only able to deliver like 800. both airbus and boeing have five-year plus backlogs. that's the positive part. on the cultural side, no. it's still early days there. it's going to take a while. it's not something that you can't get into the kind of mess that boeing has got into. and turn that around quickly. and like i said, i didn't think that that would happen with someone, you know, leading the company that was an internal person. i thought we needed someone from the outside, and they now have that person. and, you know, he's, you know, four to five months into the job. it's going to take a while. i think finally settling the machinist strike was a step in the right direction. but there's a long ways to go, no doubt. >> you know, again, david calhoun, the former ceo, and again, somebody i know, by the way, came from nielsen originally. steven mullenkof, the chair of the board, came from ualcomm. thooempb as i know them, from

the same university. is kelly or theberg the person to come and kind of kick butt, if you know what i mean. basically say to the culture in seattle and south carolina where they're building jets, we can't have crashes. we can't have doors blowing off. there's still questions about what happened in certain videos that we see with certain jets. and my question is, david, if you're buying a lot of boeings, have those problems, those questions been answered enough that you feel comfortable as the ceo of an airline saying, you know what, i'll put a $100 million order in with boeing, because i feel comfortable that management has taken enough steps to make sure everything is safe. >> recent things that we've heard out of the -- out of some of the airlines, some of their biggest buyers, whether it be ryan air or southwest in particular, they've said very positive things, or that boeing is moving in the right direction when it comes to, you know, oversight and production.

so we have that. you know, i would say the airlines have also, to a certain extent, voted, you know, with their orders. boeing's order, you know, order market share has been very good. some of this is partially because airbus has sold out way into the future. but we haven't really seen a significant market share shift. airbus relative to boeing over the last few years. we don't know what kind of pricing boeing has in those orders. but in terms of just market share, that's probably as good of an indication as we can get in terms of what the airlines are thinking. it's been pretty good. and when you look at lease rates on boeing aircraft relative to airbus, they're in a pretty similar spot. i think things are moving in the right direction. again, very slowly. i'm not making the call that this is a turnaround that's over and done with. we're early days with mr.

ortberg taking over, but i think so far, he's doing the right things. >> it's a great american company that we need to succeed. and let's hope that some of the stuff that you said, david, does, indeed, come true. david straus, barclays, upgrade on boeing, first time in more than five years. i hated to be so tough, kelly, but what i was trying to suggest is, we make fun of french cars. we kind of -- it's kind of a thing. the french are kicking our ass -- our derriere on airplanes, they're kicking our derrieres, tush, sorry about that. >> derriere, of course. >> and we need to fix it. >> indeed. >> this is one of two companies in the world that does something. >> that's the problem. when there's not a lot of competition, there's less pressure on you to fix it in the moment. at least now they know they've got to fix it. on dk --ec no more cursing. why big tech is suddenly throwing big bucks at the incoming white house.

welcome back. we've got some big breaking news for you right now. it is cold. it is really cold across much of

america. we know that this polar vortex, extreme cold is blanketing much of not only the midwest, but the south as well. tremendously cold weather. and concerns around energy and the grid. now, kelly, this does not get a lot of attention. we talk about extreme heat, which can be very dangerous. cold actually kills about seven times more people than heat. >> i didn't realize that. >> not a lot of people do. it doesn't get nearly the attention, but cold far more dangerous, because cold tends to kill slowly, not sort of quickly like an extreme heat wave can. so luckily, in america right now, when we look on poweroutage.us, there it is, we are seeing most grids up and running. there are some people in virginia and kentucky and west virginia, you can see that, illinois, and parts of missouri, that do not have heat and hopefully that will come on very soon. but if you do have heat and power across much of the mid-atlantic and eastern u.s., it is largely because of fossil

fuels. right now, at pgm, which is the grid operator for 13 states around virginia, ohio, pennsylvania, and more, over 80% of your light and heat is being generated by natural gas, nuclear, and about 25% right now is being generated by coal. >> that's a high number. >> yes, in 2025, coal -- dirty old coal is producing 24 megawatts of power, which you can see on the total number, is about 20 to 23% of where we are right now. >> obviously, coal's rich in that part of the country, but it's still surprising that it's that much. here in new jersey, 40% is nuclear. 40% of where our electricity comes from. >> when you drive across the delaware memorial bridge coming into new jersey from the south, and look to your far right, you're going to see some steam that comes up. that is a nuclear power plant, in the very southern tip of new jersey. that and the lyndon co-generation plant, which is

right next to newark airport, this gigantic beast of a plant, both sides of the turnpike, that is providing over half the power for the entire state. and i'm not bringing this up to be critical of anything. i'm saying we can hate certain things. you can hate coal, okay? but right now, in -- for 20% of the power grid, coal is literally saving our derriere. >> i think was the term. >> tush. >> by the way, new in 2025 when we're dealing with these issues is also the usage of the grid by a lot of the large data centers. northern virginia, of course, is the heartbeat of the internet, where a lot of this is taking place. a lot of those have tried to do different kinds of deals to get their power directly or not. so there shouldn't be too many issues. but another thing when we see big storms come to these areas, there's more infrastructure risk than that. >> and bring that graphic back up, big, beautiful graphic on the wall. renewables did about 7.6 megawatts. that's a big number.

overall, the demand for power, because people are cold and they're cranking their heat, the demand for power has shot up, and with that, the demand for any kind of power generation, even kelly's nuclear, is up. >> there we go. coming up on "power lunch," it's still a big week for the markets -- it's not even a full week of trading yet, if you can believe it, because we have that close on thursday for former president carter. the first test of the area for investors is the jobs report come friday. we'll talk big picture as the dow tries to hang on to green after the break. this gap! it's just too big. bring on the double! aflac! after my hospital stay, aflac helped close the gap by paying me cash for expenses health insurance didn't cover. nothing covers gaps better than the aflac duck. aflaaaaac! aflac. get help with expenses health insurance doesn't cover. find an agent, get a quote at aflac.com. you do look like me. mhmm! do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate

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welcome back to "power lunch." i'm seema mody with your cnbc news update. president biden is on his way to new orleans right now to visit the family's loved ones victims of the new year's day terror attack. 14 people died when a texas army veteran who the fbi says was inspired by isis rammed a truck into people celebrating the holiday. louisiana's governor says that he will push for the president to issue a disaster declaration during today's visit. three israelis were killed and several more were injured in a shooting attack on a car and bus in the israeli occupied west bank today. the attack could complicate a potential peace deal to end the

15-month war between israel and hamas in gaza. israel prime minister benjamin netanyahu said today that he approved measures to capture the attackers as well as a ries of offensive and defensive actions. meanwhile, u.s. envoy said today that israel has begun withdrawing its forces from a southern lebanon border town. he said the withdrawals will continue until the idf is fully out of the country amid its fragile cease-fire. the idf has yet to comment. brian, back to you. >> seema mody, thank you very much, seema. all right, here's an rbi for you. according to carson group, if the s&p 500 pops more than 1% today, it will be the first time that we have begun the year with three straight days of 1% gains or more since 2003. a 22-year phenomenon, if it happens, if it happens, kelly. >> it's looking a little harder now. >> i know. >> only half up 5%. >> what's rbi? >> random but interesting.

>> i thought it was a baseball analogy. >> it is, but i stole it from that but not only that, but the reserve bank of india. they have rbi on twitter. while this may be random but interesting, does it actually matter to the markets and your money going forward or is it just a nice day? jack anlon is founding founder and cio of crescent capital. we had a terrible end of the year, people say, the market goes up, we'll win january. these are nice stats, little fodder for tv, but do they actually matter to the overall direction of the market? >> no, probably not. week-to-week, even month-to-month, it's pretty much random. but what i will say and what i wanted to point out in my note is that the market right now is fixated on this period between election day and inauguration day. everyone is focused on policy

and the potential for policy to impact markets. that we find is that once inauguration day is over, and we look out to the rest of the year, it's really back to business as usual. so perfect example, trump's inner circle said they may be scaling back on some of the tariffs. of course, we started to see the dollar decline, some other reaction to that. that type of intense scrutiny has pretty much dissipated after january 20th. >> what's going to be the most important thing, then? after january 20th, you get through all of this stuff, look ahead in the calendar to may or june, jack. what are we going to be talking about? >> what is going to be the next big thing for equities? interest rates or tariffs? something else? i think it's interest rates. keep in mind that most of -- we were able to deliver 20% returns

last year on 9 or so percent earnings growth. clearly, multiples expanded. and high multiples need low interest rates. and interest rates, unfortunately, are going in the wrong direction. in order for us to maintain these levels, we're going to need to see earnings go up, and they will for most of the s&p, but we'll also need to see interest rates, whether they're the ten-year rate or the overnight rate cam down. and we just don't see too many prospects of that right now. >> i agree with you, jack, and i think a lot of the market's looking at 642. maybe we can show the 30-year thinking, we've moved past the initial digestion phase and maybe supposed to be consolidating this move, not continuing to see things break out to the upside. >> yeah, i would tend to agree, but there is there -- i would call it the january affect. usually, the january affect kaskts small cap stocks, not the megacaps. but we are seeing the rally --

we'll call it the santa claus rally on hold, as now pushed into january. but like i said, after january 20th, i think back to business as usual, and everyone is going to want to focus on rates. the remarkable thing about if we dial back to 2016, you know, once the inauguration was over, after, you know, trump's first term, one year hence, what was the best-performing equity market? china! china was absolutely hammered between election day and inauguration, and it came back and delivered a 42% return. i'm not suggesting necessarily china is going to rally that much. i do think that there could be a cyclical pop in china, but i think we have to look beyond kind of the traditional cast of characters for moves for 2025. >> not many people are going to come on after the recent stretch of data and performance and say, jack, you know, look at china.

>> yeah, it's certainly cheap, and i would say from a cyclical point of view, there's an opportunity. if they get the stimulus and things kind of aligned right from a secular standpoint, it's still, in my mind, a basket case. but i do think that there could be a cyclical pop there. you know, we're just waiting for some positive momentum, if we can get it, or that can be an opportunity to get in there. >> jack ablon, crescent capital. we love always having you on and we even sprinkled some of that market data right at the top to make you think a little bit more. thanks, buddy. >> thank you. let's get a check on those bond markets, with ten-year yield above 4.6%, jobs report is looming. rick, our guest last hour said something interesting. he said, i don't want the data to be even stronger at this point. it's too strong. >> yeah, you know, data is pretty strong. and i do think that one of the big issues for 2025 is going to be how much slowing, if any, we

see in the labor market. how we qualify ntify that. and also realize, that it isn't necessarily the linchpin in fed policy. today, we had an auction. we had 58 billion three-year notes, tomorrow it will be 22 billion 30s. the first leg was kind of iffy. we saw the three-year tail a bit. as you look at the chart, around 1:00 eastern, the right side of that, yields moved up. pretty much, that was the capstone. yields were volatile, but that really seemed to seal the deal, as all rates now from the five-year over year up are higher on the day, priced lower on the date. 30-year bonds, we've talked about the double tap on a closing basis, around 481, 482. intraday, we violated that. if it closes above, it doesn't mean it's a moon shot, but certainly means some of the resistance, many we're focusing on for more consolidation and interest rates, especially long-dated, might be vaporizing. finally, that 2s, 10s spread has

been on fire! it's trading 35.5 basis points today. that's the widest in 32 months. and finally, the dollar index, you know, between trump and "the washington post," there has been a lot of back and forth about the state of tariffs, which nobody truly knows at this point, but there's a lot of volatility you see there. the dollar index has managed to pop back above 108. we want to continue to watch it. it is by far the currency of choice for 2024. many believe that will continue in 2025. back to you. >> that's what we were talking about with kathy lien. just keeps going higher. thanks. still ahead, work smarter, not haer.rd we'll highlight how ai is helping to make recycling easier and more efficient. "power lunch" is back in a moment. (grandpa) i'm the richest guy in the world.

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welcome back. one of the toughest parts about recycling is all the sorting. the paper, plastics, aluminum, where does it go? it's confusing for the consumer, imagine it on an industrial scale. now new technology and ai are trying to make it easier. diana olick has the details in

ore continuing series on climate start-ups. diana? >> well, kelly, we're talking about recycling scrap metal here. and not just making it easier, but keeping it domestic. traditionally, the majority of scrap shipped overseas and hand sorted or melted down into lower quality materials with limited uses. if you can sort it better, you can maintain its value better and reduce energy and emissions all at the same time. in markelle, indiana, thousands of tons of shredded aluminum are getting sorted into different alloys. that is, different types and grades of the metal. all using new technology from a local start-up called sortera. >> things that are end of life, like our cars and washing machines and forth, they get shredded and all of that mixed material is no longer valuable. we sort it so all of those pieces can then be reused and put back to better use. >> put back into domestic

industries like automotive, construction, and aerospace. sortera buys the scrap, sorts it using a proprietary technology, and sells it back to companies like novellus, which can then melt it using just 5% of the energy needed to make new aluminum. >> what sortera did was use existing sensors with some really powerful ai software, and together makes a special technology that allows us to sort the materials at high volume and at low cost. >> sortera is starting with aluminum at its indiana plant, but plans to expand to other scrap metals. and the technology is modular, so in the future, it can be put anywhere the metal is. >> it brought 21st century technology to an industry that is literally as old as metal. which is a pretty amazing thing to do. they were also the first to figure out how to scale it. >> in addition to ra capital,

sortera is backed by breakthrough energy ventures, assembly ventures, and macquaure capital. and sortera claims its process uses very little energy, doesn't use water, causes no emissions, and doesn't put anything into the landfill. while half of the shredded u.s. aluminum is shipped to asia, sortera is the only u.s. company that has technology to sort it for the highest quality used. that is, taking the aluminum from a hood of a car and put it back into the hood of a car. zpli always hear that the issue with recycling is there is nowhere for the stuff to go. this gets around that, put it back into the supply chain. >> yeah. and it's surprisingly difficult to do that, because you have to sort it out into its original form, and that involves all kinds of different processes. this is the first time they're able to do this domestically, so you weed out all of the other, you know, having to ship it overseas, using that kind of energy, bringing it back, the

costs are just incall callincal. >> they're using less energy and not any water. >> not in this. this has the reason we had you on. dare we call it a clean start. >> dare we do. let's. >> using diana's name, you can see the graphic. diana olick, thank you very much. still ahead, putting the full-court press on. we're going to highlighthe latest tech giants trying to sprinkle a little cash around the white house. that's coming up. (♪♪) 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. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund

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it actively cools by drawing warm air away from your body, to keep you cool and comfortable throughout the night. our smart sleepers get 28 minutes more restful sleep per night. it's our lowest price of the season on our most popular smart bed. save $1,000 plus free home delivery with an adjustable base. welcome back to "power lunch." and take a look at some of the strongest stocks on the market today. it's the chip names. not only nvidia, which could close at an all-time high today, we're seeing the likes of micron up 11%. and we're getting some news on the amd front. kristina partsinevelos is here with those details. kristina? >> it's ces right now and amd's presser is still ongoing. first, you had qualcomm earlier

this morning, launching their ai pc, and amd is joining the mix. amd's next ai pc would be called the rise in ai max processer. it's an ai chip for portable devices like laptops. amd saying there's going to be over 150 computer designs available, with oems, those are original equipment manufacturers, lick lenovo, for example. outpacing what qualcomm said earlier today, they have 100 designs. i am seeing online, some questioning about the lack of ceo presence from lisa sue. but we have to keep in mind, this event and this speech was already planned of the svp present. it shouldn't be a big surprise to a lot of investors. let's get back to the amd news. they're announcing their first of ever commercial expansion with dell. that means bringing the amd. there's a lot of names here. the rise in ai pro processor. think of it as an ai chip. this is a new partnership for them. lastly, amd unveiling new gaming

desktop processors. they even took a jab at intel on stage, saying that amd's gaming chips is 20% faster than intel's, quote, best. you can see intel shares actually today, one of the few that are in the red, down about 3%, when the entire sector seems to be climbing higher. nvidia is also expected to release some information on gaming chips later this morning. that name, we know, is coming ever closer to becoming the most valuable company very, very soon. shares are up 4%. but amd, 2:00 p.m. you don't see too much of a stock reaction after these three announcements from them. >> anything, kristina, jenson huang tonight kicking off the ces conference in vegas. anything that we're expecting? any early word on maybe what jenson huang may say? >> there have been a lot of leaks about their gaming processors. that's what they first started in. a lot of gamers get their hands on these leaks. that's number one.

number would be any update on the blackwell production. we know that just last earnings, in november, nvidia did say that they are shipping more of these blackwells than original anticipated, but didn't actually provide us with the numbers. maybe we'll get some type of financial updates. and rubin, which is the next iteration of these gpus. think of it like a family. and last but not least, this is another rumor, that nvidia may launch an ai cpu. so specifically for computers. they focus on gpu, this could be brand new. they're definitely heading in that world, to compete directly with amd, to compete directly with intel, as well. so lots to go over, but those are the four main points for nvidia. >> kristina, thanks very much. we appreciate it. it's going to be a busy week on the tech front. >> yes, because as we mentioned, the tech world is focused on the consumer electronic show known as ces, but there's another big

event looming, which also has caught the attention of many tech ceos. and that is the inauguration of one president, donald j. trump. >> never heard of him. >> who? >> steve kobach joining us now with more on big tech. is this fair to say, steve, a cozying up relationship? >> cozying up, courting, some would said dancing. but the latest for those courting trump ahead of this inauguration, it's microsoft and apple's ceo, tim cook. each offering different things. and it may not be the end of what they have to offer the incoming president. on friday, axios reporting that cook is donating $1 million personally to trump's inauguration. this, of course, comes ahead of trump's promised china tariffs. i know there have been questions about that today, which apple needs to dodge like they did in the first term. also on friday, microsoft president brad smith promised the company would spend at least $40 billion on artificial intelligence development here in the united states for its fiscal year ending in june.

that's mostly for ai data centers. that includes buying nvidia chips. not necessarily going out and hiring a bunch of people. he mentioned trump nine times in his blog post and included praise for the former president's 2019 executive order on artificial intelligence. so let's talk about what's at stake for each of these two names. for apple, it's tariffs. those promised tariffs from president-elect trump of up to 60% on imports from china. apple makes pretty much everything it else in china and imports here. no comment from apple. they're not saying the company is donating as well. right now, it's just tim cook, and of course, there's no big difference from the ceo of apple and apple itself. but trump has also said that cook had dinner with him at mar-a-lago before the holidays, but again, cozying up to that relationship. microsoft on the other hand provides a lot of tech services for the government and now there are some questions around how seriously it takes security that follows a recent breach of state department e-mails by chinese hackers.

since then, microsoft has said it's going to make security a top priority in product development. and microsoft on top of all of that is facing legal challenges related to its stake in open aye, which includes the lawsuit from elon musk and some federal investigations into anti-trust issues there. not the only notable names in tech, of course, donating to trump's inauguration. we already heard about open ai's ceo, sam altman donating a million dollars to the donation. uber is donating $2 million. $1 million from the company itself and another million from dara khosrowshahi, and there's elon musk, spending $277 million trying to help trump get re-elected. a lot of money from tech pouring in. i should also note robinhood and some other crypto firms as well. >> it's one of these things, they cozy up to the party in pao, in the obama years, it was that, it was trump, then biden, and now back to trump. the idea that these companies

have to stand for something has given way to the real politics of, yeah, you want good relationships with whoever's in office. it feels obvious to say, but feels like a departure from a few years ago when it was very much more about moral posturing. >> now it's money posturing, because the perception here is that trump will be very transactional, as he was in his first term. and i always go back to the example, when we talk about this to jeff bezos. trump really made his life tough during his first presidency, going after him about abusing allegedly the united states postal service, making it difficult for amazon the win that cloud computing contract with the pentagon, which, by the way, amazon tried to sue over and that ended up going nowhere. and now you're seeing them just go the other way. you're seeing what bezos is doing with "the washington post." what all of these tech leaders are doing, donating -- >> but to be fair, joe biden got a large salary from the university of pennsylvania. i don't think he ever taught a class. >> exactly.

>> expects all it happens all the time. >> money to the presidents because money makes the world go around. >> but these people weren't donating before, so it's a recognition from these people -- >> look at where it got bezos. that guy, i don't know how he's. >> it's a recognition from them that this is the way that business has to be done in a trump administration. they're realizing that, they saw what happened the first time and now we're seeing it go completely the other way. some people say it's too much, but it's going to work. >> yeah. steve, thanks. evkovach. dow's only up 20 points right now. we'll keep an eye on it. and you can always hear us on our podcast. be sure to listen and follow "power lunch" wherever you go. we'll be right back. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities.

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we are going to get a final check on the markets before we let you go. we made a stat at the beginning of the show that we're basically on pace for three 1% gains in a row. hasn't happened in 22 years. guess what, as soon as i said that, markets started to sell off. the dow is down negative. the s&p is up, but only up 0.4%.

you're welcome, america. >> you've got a couple of hours to go. and things could turn around. we know, usually by the time we get to here, we've seen the inflection point. the dow is negative, the s&p is still up with, and the nasdaq is the real story. i blame yields, by the way, i blame yields. we had strong services, they all backed up. >> this is america, just be a d >> thanks for watching "power lunch." >> see you tomorrow. thanks, kelly. kk to "closing bell." make or break hour begins alleyes turning to vegas where nvidia's ceo gives his keynote address. in about six hours. and a big move, nasdaq, the reason nasdaq is leading actions. 60 to go in regulation. dow is negative. nasdaq off its best levels of the day. s&p hanging out with about one-third of 1%. record revenues from foxconn sending semi