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tv   The Claman Countdown  FOX Business  January 7, 2025 3:00pm-4:00pm EST

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be made in commodities. charles: you manage money for a lot of people. i've got a minute to go. what's the anxiety? is there one thing people are concerned about? if we know the animal spirits are out there, but is there one hinge they say but? >> i think they're concerned a.i. steams great, but where is it in my individual life many they don't see that yet. it hasn't been monetized -- carls charles but isn't that that ironic? some people say i don't see it, and others say we're going the lose millions of jobs because of it. >> we are. this is the new frontier. this is going to be the largest disruption of how everything is done from a human capital perspective in our lifetime. so we are right to prepare for human capital to retract and for artificial intelligence, robotics to come forward. charles: but we're going to make a lot of money. >> yes! a lot of money. take your time, be patient. charles: someone with a front row seat today is liz claman. liz, over to you. [laughter] liz: charles, thank you so much.
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"the claman countdown" is live at ces, the largest consumer electronics technology the show where close to 5,000 tech companies from 161 countries have descended on sin city for the next three days to to unveil the newest gadgets for 2025, and it will be a crowd of close to 140,000. maybe even more. we're going to show you a bunch of this technology coming up. but first, yeah, you see red on the screen. after monday's stellar performance where the tech the sector actually led the nasdaq to major gains, that sector is coloring the markets red. as we kick off the final hour of trade, we've got the dow i jonesvilles losing about 116 points, s&p down 52. but let me show you the nasdaq, and we can drill down here because the point and percentage loss you see right now, so the percentage loss is 1.6%. the point loss are, 325. completely blanks out the 1.2% pop or 243 points that it closed at yesterday. to be honest, that probably has less to do with any particular narrative in tech world than a
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new window that open toed up to investors into the economy. the november jolt withs report. granted, it's rearview mirror looking, but it just came out this morning and showed 8.1 million job openings. that is way stronger than the 7.7 million expected. meaning companies hired at a very fast clip in november. now, that is not necessarily a bad thing, but it did trigger a pronounced jump in treasury yields. let me show you the 10-year yield, and it is rising by 5.8 basis points. earlier it was i think within just one-tenth of a basis point to 4.7%, we're at 4.68%. and that's pretty much a 9-month high as the strong data basically throws into with question whether the federal reserve might delay future rate cuts. because if the economy is strong and the job market is robust, what grow need rate cuts which are stimulative for. >>? we're going to talk much more about that and markets in a
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moment. back now here live f at ces, what happens in vegas is already making headlines around world. the doors officially opened this morning to more than 4500 exhibitors, as i said, thousands and thousands of buyers and advertisers. ces has become a huge advertising show, by the way. for the next three days, they will run around 2.5 million square feet of display floors to see what might capture consumer dollars, okay? your money. we'll be pick taking you around the las vegas convention center to give you an inside look and speak to the biggest newsmakers here. many of them with publicly-trad ed company. artificial intelligence is the buzzword for this year's show, and nowhere was that more apparent when nvidia ceo jensen huang had a key note that roadway vealed how the company is building -- revealed how the company is building the new
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frontier. he kind of played captain america wielding this huge model of a blackwell chip to cheering crowds, launching a line of graphic processing units that use the same architecture as the blackwell chip. jensen says it's going to bring game-changing capabilities to gamers, graphic designers and more. they are available this month, and the price ranges fro -- 549, far cheaper than it predecessors, all the way up to $2,000. nvidia revealed its first a.i. laptop launching in march, fully equipped with its blackwell chips starting at $1,299. by the way, that's about the exact amount that a mac if costs. at least at the same 15-inch size. that that -- they go up to about $3,000. he also announced cosmos, which will be the foundation for many
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new ways nvidia's building out physical if a.i. with cars, physical adoption of a.i. in our world, robotics, manufacturing, autonomous if technology and so much more. nvidia has also teamed up with aurora innovations. this is a good message about sort of the halo effect of what happens. now, nvidia may be down, but aurora innovation is way up, 30.6%, off the highs of the session, actually, because it's a got a partnership with nvidia that was announced. and then another also getting a boost, gaining 12.333%. the company is collaborating with nvidia on a.i.-embedded autonomous if driving applications. all tease innovations -- these innovations could not happen without nvidia's industry-leading a. a i. blackwell chip which he confirmed last night are now in full production. >> here it is. [applause] our brand new g force rt, and --
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[cheers and applause] 50 series, blackwell architecture. the gpu is just a beast. 92 billion transistor toes. concern -- transistors. three times higher than the last generation. impossible without or artificial intelligence. liz: 92 billion transistors? i mean, they took it to a new level last night after touching a new record intraday high this morning of about $153.13, nvidia shares, as you see, are selling off a, worst perform on the dow and the knacks damage 100 -- nasdaq, down to $141. but yesterday, remember, they closed at a record. will it be tech or another sector that will emerge to lead the markets? let's get right to the floor show and joining me now, interactive brokers' chief
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strategist pete soz nick and ryan dietrich. steve, you know, you called it yesterday in your notes when you predicted that nvidia and the keynote would be a sell the news event. but is that anything more than just a one-day situation that we're seeing, in your opinion? if. >> good afternoon, liz. yeah, i think as of now i that's all it is. i've got a lot of questions today. you know, why are we down so much, why are the techs down so much. not a single person called me yesterday and said why is nvidia and tesla up 10% in two days? we're seeing a lot of momentum trading on both sides. you know, when you think about it this way, nvidia put on $370 billion plus or minus in market cap in two days. so it was going to take a lot to move the needle even more than it had already been moved. so for all the great announcements that you just outlined from general went wang -- jensen jensen huang, you know, great news was priced in, so it's normal to see some
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pullback. i do think we're starting to see a little bit of ebb and flow in the market now rather than just simply chase all rallies. liz: ryan, you're a with two-year-long bull right now, and you're continuing. you say stick with momentum. what does that look like? in what areas? is there a way people can capture announcement without buying an thing in stock -- mow momentum? >> liz, thanks for having me back, and hope you're having pun out this. [laughter] we're still -- fun out there. if markets are strong, you tend to see momentum names lead, and there are various momentum etfs, but when you look at what's really part of those, technology and financials. those are two big parts, right, of momentum etf. so i think it's a great way to get exposure today leaders. you talk about tech, yeah, it's rough so far, but strong the earnings. so much excitement going on. communication services is good.
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in financials, the deregulation, earning growth, i am a tad worried about some of the valuations in tech, but that's why you do financials. they're cheap in at lot of cases. it's frustrating. one more quick one, after a 20% gain on the s&p 500, that next year -- right now -- it's up over 10% on average, higher 82% of the time. better than average returns after a 20% gains. after back to back 20% years, the s&p's never been lower. i get it, 20% average, just because we had a good year last year, even two in a row, that is not a reason to jump off the bullish bandwagon. there might be other reason, but that's not one of the reasons to be scared. liz: steve, do you have a non-tech sector that you think could full fulminate, work like a volcano aztec did last year? >> i think it's going to be very hard the find a sector that does what tech did because what they're all about is something that just changes the whole
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narrative. you can say, yes, i don't disagree with ryan that there's men of value in the bank, but -- plenty of value in the banks, but they're not going to do anything as life-changing as what tech is trying to do. they're not as consistent with their earning aztec is. i do in some ways like the banks because the yield curve is going in their favor. they benefit from the fact that the 10-year yields are rising that'ser -- faster than the short-term yields. i do thinks it is time to think more about a value than growth because i think as we're seeing now a lot of the growth is getting priced in it's not already there. if it's not already there. i don't dispute any of the things ryan said, but i do think a lot ofs it is the priced in already. so what you have when you have very good news priced in is more room for disappointment than you do for exceeding those expectations. that's why i think it's time to look more toward value, continue the rotation that we're starting to see, that we've within starting to see -- been starting to see through much of 2024 and
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abandoned in the last quarter. i think it's time to revisit that. but in terms of explosive gains, hard to come up with something that could outdo what we've seen recently this in big cap february. [laughter] liz: yeah, i know. to be fair, ryan does say aloe allocate some the -- allocate some of the portfolio to gold right now just as a hedge. thank you so much, steve, ryan. okay, folks, you see that the nasdaq is struggling here, down about 358 points, but that is not focus here at all a of ces. it's not just about a.i., it's about all the cool, potential gadgets that have been -- personal gadgets, and here is one that's getting a lot of attention. bird watchers, bird nerds, this is the bird feed feeder. what this has, it has a dual lens camera and an additional side camera to give bird watchers unique views of their favorite death perked friends. it costs about $420, and it used recognition technology. it's going to send you
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notifications like a bird is here to identify what type of species has landed on the perch. i don't know, like there's a humming bird, but, look, it's a spoon-billed sand piper or whatever, and it's night owl approved, by the way, infrared technology lets you spot knock term animals was well, just under $420, and e it has won a lot of awards her here at -- already here at ces 2025. up next, hong jeffty hack as. -- longevity hacks. people are living longer, and tech is helping. the aarp ceo is in huge demand here because of it. she's next with some of her favorite longevity hacks including ones that gen-x, y and z are rushing to buy like the glasses on your screen for those with hearing challenges. you put these on, and they project realtime closed captions of what other people are saying. it's like live subtimes in your
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eye so you can -- subtitles, in your eye. and for the younger folks, they can wear it at raves, and they can hear people yelling at them. [laughter] so much more is coming up on "the claman countdown." first on fox business, ceo of qualcomm is going to be here. we're live in las vegas at ces 2025. we're coming right back, don't move. ♪ ♪ (auctioneer) let's start the bidding at 5 million dollars. thank you, sir. (man) these people of privilege... hoarding the financial advantages for far too long. (auctioneer) 7.5 at the back. (man) look at them — unaware that robinhood gold members now enjoy the vip treatment — a 3% ira match on retirement contributions. (auctioneer) 11 million sir. (man) once they discover their privileges are no longer exclusive... their fragile reality will plunge into disarray. ♪ ♪
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visit xfinity.com/rewards. ♪ liz: welcome back to "the claman countdown." so we left the broadcast tower, and we have now moved to the floor where some 140,000 people are rushing around 2.5 million
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square feet of display areas. now if, we're talking about technology. we've moved to panasonic, and technology is getting older, smarter but also cooler. so gen-x, y and zers are obsessed these days with longevity hacks. they want to age smarter, they're very worried about their cholesterol, their posture, and the tech that helps them fix that not just for them, but older folks too is age technology. and that's why the head of aarp is in huge demand here on the floor. [laughter] great to have you with, thank you so much. >> thank you for having me. >> you just had your keynote at panasonic. >> yes. liz: tell away -- me what you talked about. >> it was the incredibly exciting. we're really excited to be here as the leader in understanding the longevity economy. we are the global leader in really understanding the tech space for those 50 plus.
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we're excited to be here, demonstrating all the investors, entrepreneurs and as part of the collaborative. liz: so let's talk about, if we could, some of the technology you want to show us. >> yes. liz: what are we look at here? if folks, again, everybody is living longer. in fact, i think you said this is going to be a $96 trillion market for age technology. >> that's right. over the next 30 years, we know there's going to be a tripling in the global spending on those who are aging. so that contributes to the economy in ways that are so exciting. so we have three companies that are part of our age tech collaborative. this first one is called thinky, and it's focused on making sure we are enhancing brain health for those 50 plus. this one is focused on menopause, and for women, it will help either cool or heat you or actually helps reduce stress for women who are dealing with menopause. liz: everyone has thermal discomfort. >> yes, but women in general --
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liz: i'm always either too hot or too cold. particularly women, sure. >> correct. if you're having a hot flash and you want the cool downing or if you're feeling cold because of the temperature disregulation that can occur with menopause, that's really help. and this one are glass glasses that this actually distribute closed captions for those who are hearing impaired. i think about my dad who's a vietnam war vet who's had hearing loss and his ability to use a device like the to be able to understand what people are saying as they're speaking. liz: and what is pan if sonic doing as -- panasonic doing as a partner? >> we are collaborating around their accelerator model and around their competition. so we're helping them to learn from some of the things we've done with the collaborative in terms of bringing entrepreneurs together with investors and creating -- and continuing to enhance the a space of understanding the incredible potential within the 50-plus demographic. liz: can i just ask you, because
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geriatric gen-z, have you heard that term? there's middle-aged millennials, geriatric gen-z, they are obsessed with age technology. >> yes. liz: are you seeing more and more of that where it's spilling into the younger general genera? >> definitely. our age tech collaborative is getting larger and larger every year, much more attention, much more focus and much more interest. and we're seeing the uptick. we mow that over to two-thirds of 50-plus are very interested in how technology will enhance their lives. liz: by 2030, five years from now, 65% of the entire population, is -- 1 in 5, are going to be above 50 years old? >> that's right. this is the largestest demographic and growing globally. so the potential there is enormous, and we want to make sure that we're bringing the technology to 50 plus. liz: got it. it is so great to to have you with. >> thank you for having me. liz: dr. minter-jordan of the
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aarp, people want to talk to her and not just the old folks. okay, what is next? coming up, we have the wellness tech that is not just the only thing that simplifies your life, okay? there's a bunch of that here. but it's companies that have invaded the floor of ces, born's connected home -- bosch's connected home. and it is everything from refrigerators, kitchen appliances, even a.i.-enabled parent support able the communicate not just with you, but with each other. bosch's north america ceo joins us next with his brand new line, and you're going to see it first here on fox business. stay with us, we're coming right back from ces 2025. ♪ ♪
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a healthier world tomorrow. better questions. better outcomes. ♪ liz: welcome back to "the claman countdown." yeah, we've got a bit of a selloff here. it's the nasdaq that's making fresh lows here, down 395 points. but nasdaq stocks, technology stocks, are everywhere here. and right now we have moved to bosch, the german appliance if maker. oh, they do a lot. they're doing the whole smartphone thing. that in and of itself is not a brand new idea, but they are bringing the heat to ces but also the chill with their latest
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innovation including an a.i.-generated, matter-enabled refrigerator. let me introduce bosch north america ceo with darcy clarkson. great to have you. thank you very much. what does that mean, matter-enabled? >> what that means is, it's a connected appliance. just to share with you, bosch has had connected appliances for over ten years. and so we have our own app that enables you to do a number of great features n. a connected home, you can't have them connected with everything, and so matter is an interoperability standard that this product will be able to access all smart product homes will be on the same system. liz: it's alexa-enabled, correct? it's got the french doors for those of you who insist on them. tell me what it can do. oh, real milk. >> right. liz: i'm checking -- okay, it's not expired, january 23rd. go ahead. >> well, listen, it's a typical refrigerator. in fact, it has the fast ice
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maker, but it has a number of different features, as i said. you know, i'm not sure if -- in my household sometimes the kids leave door open, and through matter we can give an alert to say, hey, the refrigerator's open, close it. if you want to adjust your different temperatures through your phone and through matter, you can do that as well. all that as well as being a great, high technology bosch refrigerator. liz: and it can talk to who else? what machines? whatever you have in your smart home. through your alexa, through your lighting. those products, it's on same platform. liz: we have a veries price-sensitive consumer out there right now -- very price-sensitive. they are not suffering fools gladly or anything overpriced that they feel. what is the cost offing this -- of something like this? >> this'll be $3,000, and if on promotion even lore. priz liz okay. interesting. what does that compare to your previous iteration many. >> actually, it's on par. actually, this is a little bit
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lower because, as you said, we recognize that the market, price points are very important, so we want to bring a very affordable solution -- liz: and the fridge can also talk to the a.i. stove. let's talk about the a.i. ovens, right? >> that's right. liz: tell me about this. >> well, first of all,work has always -- bosch has always been focused on a.i. i'm not sure if you know this, we have over 1500 if a.i. patents, in fact, the most patents in europe. liz: okay, wait a minute, that is major. i think this is important. a lot of people are just jump ising on the a.i. bandwagon. -- jumping on. i'm quite sure many of the advertisements, they just slapped a.i. on at the last second because it's such a big thing. you're saying that is not the case with bosch. >> no. we've been focused on a.i. for a number of years. and what i want to share is for us a.i. is about delivering a consumer experience. and we also are very judicious of using a.i. this is very important, and we have very tight parameters on
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how we use it. and on this particular product, what's really exciting is we use a come nation of cameras -- combination of camera as and sensors and a.i. algorithm to help you cook your food. liz: so nothing's burning. >> exactly. liz: before we go, whirlpool. i know there was discussion, possibility that bosch would purchase the american iconic brand of whirlpool. where does that stand right now? >> yes. we don't -- that was a rumor. that was earlier this summer, and we don't comment on rumors. liz: well, let's just say, you know, any kind of mergers or acquisitions of american companies at all? this is not necessarily an atmosphere at the moment. you saw what happens with, you know, u.s. steel and nippon steel where president biden said, absolutely not, we don't want that happening. does that affect if anything from a management standpoint when you're looking at acquire withing things? >> we're always open to say what is the right ton, but as of right now -- right opportunity -- we're just
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focused on launching this great equipment that we have. liz: darcy, thank you very much. yeah, so the fastest ice to maker, we like fast ice makers. i'm a big ice person. okay, it's time to get to individual stocks that are moving big, and we're going to go to ashley webster back in the newsroom in new york city. ashley, a picture-perfect merger you have to tell us about. ashley: indeed, liz. thank you very much. we begin with a fox business alert. moderna flying to the top of the s&p, up, what, 13% at this hour in a market that is selling off. this after the centers for disease control confirmed the u.s. reported its first death from the h5n1 bird flu this week. moderna is currently develop doing a human vaccine for bird flu if after receiving a $176 million federal grant last year. according to health officials, there have been 66 confirmed cases of bird flu since 2004. and, by way, shares of other
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vaccine makers have been on the move higher at least earlier in the session and, indeed, they are. novavax, pfizer all moving higher, anywhere from 5 -- novavax up 9.33. meanwhile, shares of shutter stock and getty images looking, forgive me, picture perfect. of both up 18 and 24% respectively. the rival visual media companies have cut a $3.7 billion deal to merge and create a new photo giant called getty images holdings. if it will continue to trade on the the new york new york stock exchange under the ticker symbol g e-e-t-y with ceo -- gety, with gee greg peters so to -- to serve as the chief. shutter's ceo joined liz on her everyone talks to liz podcast. take a listen to how he started the company in his new york city apartment simply by taking photos and selling them on the
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web. you can catch the interview on apple, google, spotify, iheart radio or wherever you get your podcasts. don't miss that. coming up next, of course we go back out to liz claman live in las vegas at ces 2025. liz was front and center at the keynote address of nvidia's ceo, jensen huang. she's going to take us a look behind scenes. meantime, chipmakers are compete at ces to show what their chips can do to jam a.i. capability into all kinds of devices, yes, including autos. qualcomm is bringing next gen voice assistance to cars, and now it's bringing the snap dragon revolution to desktops in 2025. qualcomm's ceo cristiano amon will join us next. "the clay han if countdown" -- claman countdown" coming right back.
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♪ liz: folks, we're looking at the nasdaq right now. it has just hit a fresh session low. we've been running around the floor here at ces, and it just keeps going down. a lot of that has to do with the fact that we got strong economic data. treasury yield withs are spiking, and that is never if positive, at least mostly never positive for the equity market. right now nasdaq down 418. low of the session, a loss of 440. it's e nvidia that is the biggest laggard, but last night nvidia really just blew out the world. they really launched the a.i. chip game here. we're at samsung at the moment, and you can see again a.i. for all. i know i sound a little bit repetitive here, but there's always a theme that emerges at ces, and this year in las vegas it's about the most pronounced theme i've seen in probably a decade. it is just everywhere. in the meantime, that was the
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complete focus where jepsen wang of nvidia -- jensen huang of nvidia brought a.i. and the chips that drive the whole thing to a brand new level. watch this. ♪ liz: okay, we're here at the mandalay bay. there are 1100 keynote speakers the whole week at ces. but this one -- ♪ ♪ >> lines are back this way! line starts back this way! liz: i've been covering ces for 17 years straight, never if seen any wait, three and a half hours in line before a keyknow. keynote. ♪ ♪ [inaudible conversations] liz: perfect. [laughter] ♪
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>> welcome to the stage nvidia founder and ceo jensen huang. [cheers and applause] liz: it was like an elton john concert. [laughter] 10,000-seat arena was filled. i mean, people, as you saw, were in line because he's talking so much about a.i. for just about everything. and that brings us to phones, okay? they don't talk about phones at nvidia, but they certainly do at qualcomm. first on fox business, qualcomm's ceo, cristiano amon, great to have you here to. >> happy to talk to you. liz: it's hard to not see a company that qualcomm has report in partnered with. -- has partnered with. what is the big message for you at ces? >> we've been entering the -- space, and one of the things we're doing, we're announcing the x chip is the now enabled a.i. in the $600 range.
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ki for everybody -- a.i. for everybody, continuous attraction. we have a number of partners announcing their laptop it is, so that's a big thing for us. and a lot of excitement i think we've brought with a.i. pc but also automotive. continue to see traction. i think digital's becoming more and more important for automotiveful we have a number of partnerships that got announced and especially with assisted driving. so it's a great show for qualcomm, and we're busy diversifying the country. liz: a.i.-enabled pcs. $600? >> $600. when he announced x elite, it was for the most powerful laptop, you see premium laptops in the over $1,000 range. what we're announcing today is to bring income prohissed a.i. all the way to $600pcs -- liz: what does that do for me me that my laptops don't do now?
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>> you get to have the all the incredible a.i. use cases. you can find anything on your computer, how you get a lot of culpability, it's going to help you drawing things, help you edit things. and i think we're just at the beginning. i expect to see a lot of enterprises building a.i. models into those p -- pcs. liz: galaxy phones. we're standing at samsung. >> yes. liz: you have talked for more than a year and a half to about bringing a.i. directly to the phone and not up in the cloud. what does it do now in. >> we're seeing attraction, we're seeing the number of use cases increasing with android, what google's doing with gemini, what sam samsung is doing. we're now counting multiple tens of use cases for a.i. and i think we're just at the beginning of that transition. we're excited. i think samsung and our partnership with the next wave of galaxy devices, a.i.'s going to be front and center with
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snapdragon, and we're optimistic we're going to see a shift. liz: who's your biggest rival in all of this? i need names. [laughter] >> look, qualcomm, it's a different company right now. i think we went from phones to pcs to automotive to industrial to virtual reality, augmented reality, and i think we are competitors in all those different industries. but as long as technology matters in the latest and greatest technology, it's what makes company successful, there's going to be the room for qualcomm. liz: room for qualcomm. you guys have been around, and you are everywhere here. thank you so much. >> always a pleasure talking to you. liz: great, great to see you. all right, so the crowds are here, as you know. we are here for the next two days. and coming up tomorrow, we have a huge show. not only will we be covering the markets, everything about the markets because we do have a pretty significant selloff right here, but we've got delta airlines' ceo ed bastion and the ceos of aptera motors and sound how about a.i. that stock jumped 900% last
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year. it was insane. right here on "the claman countdown," those leaders of business will be here. oh, look what i just got. these are called form goggles, okay? if form goggles are a.i -- they display your heart rate, stroke rate, your pace. it's got an in-goggle compass, helps you swim straight for those of you who get out of the lane, and it's all right here. this is the kind of thing that's, hopefully, making people's lives better and healthier. just unbelievable. all right, we've got much more live from c sexer -- ces coming up. charlie gasparino, as always, but he's got a big breaking story coming up so stay tuned. we're coming right back. ♪ ♪ if (vo) what does it mean to be rich? maybe it's not just about the places you can go...
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liz: fox business alert, we're about nine and a half minutes away from the closing bell, and we can show you, obviously, the nasdaq has been in a little bit of trouble here. we've got with it down about 377 points. low of the session, a loss of 440. now the the dow has a increased its losses, down about 216 points. s&p down 67.
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tech and consumer discretionary if are kind of the big laggards here, things that you don't have to buy but that you want to buy. that's consumer discretionary. so, yeah, you could argue consumer technology, the likes of what we're seeing here at ces, would fall into that category. so as we watch all of that and much more, let's take it back to new york and charlie gas prix knee. i know -- gasparino i know you've been working on a bunch of stories, but one grabbing a lot of attention. president-elect donald trump also all in on a.i. don't know if you heard the announcement, but earlier today he said that he would be at his mar-a-lago home, he announced $20 billion of investment when he actually takes to oval office into data centers, art official intelligence -- artificial intelligence, a.i. and that, of course, would be a huge boon, certainly, because none of this technology happens
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without data centers and the chips that drive the chatgpts of the world, the perplexities of the world, all of those chat bots. so it's all about technology the here, but in new york where charlie gasparino's standing by, there's a bit more than that. charlie. >> thanks a lot, liz. this is a major news breaking on the climate initiatives, the various climate initiatives that wall street firms and major asset managers joined. from what we understand, blackrock, the world's largest asset manager, is considering dropping out of a u.n. alliance to cut global emissions to net, called net zero by 20350. 20 the 50. the move is not a done deal, from what i understand, liz, but it's clearly on the table x. this is as other banks are leading the same initiative. and you've got to think that a lot of this is related not just to the consumer backlash, to esg and various woke corporate policies, stuff that i wrote about in my book, "go woke, go
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broke," but it's also the incoming trump administration which is vowing to to roll back esg, anything that smackses of woke corporatism. so blackrock and, again, this is huge if they do this, and from what i understand, they are poised to do this. they've been the leading proponent of esg. one of the ways you implement that is to join various coalitions to cut your greenhouse gas emissions by 2050. it's known as net zero. the u.n. has sponsored bun -- one of the biggest coalitions of this kind. major banks recently have dropped out. but we understand right now blackrock is moving towards dropping out of this coalition, and it would be a huge move if that happens. it would signal that, if they do it -- and from what i understand, tear pretty close, liz -- that esg is probably on its last legs here as an investment discipline, manager that obviously has come under a lot of pressure. republicans hate it.
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consumers don't like it because, remember, esg forces you to scale back on oil exploration, and if that caused probably one of the major contributors to inflation and higher gas prices particularly after russia invaded ukraine and we had supply shortages. so this is a huge thing, if blackrock goes there. my guess is they're moving towards going there. they will use esg very sporadically, probably with clients that ask for it like blue state pension funds and overseas investors. but as a discipline that's widely used, esg is out at probably the biggest asset manager proponent of esg, blackrock. as you know, we've had larry fink if on this show. he's spoken passion passionately in the past about the need for esg and sustainability, but even he has cut back on some of his prosthelytizing on this, liz, and they do drop out -- stay tuned, they're not out yet -- it's going to be a big story. liz: yeah. i remember 2018 when he wrote
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that letter that he really was a forward thinker about it, and he was trying to be ahead of the game. but, listen, the facts changed for him, he bent, he changed. i think that's important for a leader to do. it's a very interesting, interesting development. thank you so much, charlie gasparino. folks, we have some breaking news. we need to take you to georgia where the casket carrying the body of former president jimmy carter -- d.c., rather, d.c., making its way across washington at this moment it is headed to capitol hill ahead of funeral services that are scheduled to begin in the next hour. fox news' lucas tomlinson is live right now at the navy memorial with more on the plans the honor america's 39th president. lucas. >> reporter: well, liz, just a few minutes ago we saw the dignified transfer of the 39th president, jimmy carter, from the hearse to the horse-drawn quezon here at the navy -- caisson here at the navy
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memorial. jimmy carter is the first and only naval academy graduate to serve as president of the united states. six presidents have served in the navy, but only one is a naval academy graduate, and that's jimmy carter. it's something he wanted to do as a small boy. when he was 5 or 6 years old, he wanted to go to annapolis, and that resolve was only enforced during the pearl harbor attacks when he was lying on a hammock and heard the jalapeno please attack on the radio -- japanese attack, and he knew he needed to serve. it took a little bit, liz. he had to go to community college for a few years, but he made his way to the class of '47. because of world war ii, the class graduated early, and carter first got married, of course, to then-rosalynn smith. he was a member of the 2% club, only 2% of midshipmen who go to the naval academy marry their
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college sweethearts. that that's what he did. jimmy carter and rosalynn, you know, were, of course, jimmy carter served on battleships for a number of years and then was transferred to the submarine community. of course, he worked for the finder or the -- founder of the the nuclear navy. jimmy carter was on a trajectory for a career in the navy, but when his father died in 1953, he knew his life would change forever. that that's what's happening. and just to take you back here to washington, the caisson is moving to the cap. to we're going to hear from house speaker mike johnson, the vice president, the new senate majority leader john thune. send it back to you, liz. liz: lucas, thank you so much. jimmy carter, a gentle soul. habitat for humanity, what a legacy he has left. thank you so much. lucas tomlinson live in washington d.c. all right, folk, as we wrap up day one of the consumer electronics show, we just want to show some of the laggards right now on the market, and this is on the s&p.
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but it happens to be a that the biggest laggards are all technology-related. you've got nvidia, super micro, the a.i. data center server company. we've got etsy on there, tesla, take two interactive, a big gamer. all right. we've got just about a minute left. is ashley still in new york? ashley, i wanted to show you this car. ashley: yes. liz: it has 18 cameras in it. nobody's getting in an accident in this thing. [laughter] sony's involved. it's unbelievable. i am so happy about these developments in technology for cars, right? i mean, now -- i'm told, quick, move over, don't hit that that thing. [laughter] pretty cool. [laughter] ashley: well, i think it's very futuristic looking, liz. i'm not is so sure about the name, afila? i mean, that's going to be the butt of some jokes, i have a feeling. liz: okay. oh -- ashley, you naughty boy. i just got your joke. great to see you, thank you so very much.
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[laughter] ashley: great to see you. liz: the selloff is off the lows of the session. thank you so much. nasdaq down still about 370 points, and we are continuing to watch everything, all the crowds here from ces 2025. tomorrow a huge show. speaking of cars, lucid and sound hound have a new partnership. sound hound has been one of those -- i hesitate to call it a meme stock, but it has been on a roll. voice recognition, and they are taking the lead, and that's interesting considering google and amazon have been big in voice recognition. we've got the sound hound ceo tomorrow. we've got ed bastion of delta airlines. they have been big on tech. he's going to make a whole bunch of announcements tonight at the sphere. i had been there. i'll bring you the story tomorrow. all right, here comes the closing bell. we've got the russell, nasdaq, s&p and the dow in the red. we'll see you tomorrow. ♪ larry: hello, folks. welcome to r

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