look so this this is very much gtc. that's on the 17th 18th of march classically actually over the last three years certainly nvidia has has risen and been strong into gtc. the average is about 8% over the last three years of outperformance. what jensen's going to talk about at gtc is obviously the new products. blackwell, ultra, rubin, maybe even the product that comes after rubin. very interestingly, i think that there's a session at gtc on china ai. so they're going to, you know, have companies like bytedance, alibaba, baidu and so forth. and so that's a big going to be has been a big focus for the market. because china revenues have come down from 30% to 14%. then they're obviously going to talk about a lot more about what they talked about at ces. you know, agentic ai salesforce's numbers last night, you know, emphasizing agentic ai, physical ai, that's ai understanding the real the real world. and then, of course, robotics as well. so gtc is probably more of a catalyst than these numbers themselves. >> ben, super

something that i hope will come at nvidia's gtc conference, the equivalent of woodstock for all thingswho knows how much that matters when the company's in the crosshairs of potential tariffs. but enough about china. let me tell you what nvidia can accomplish in the right hands. let's take these one by one. i like classical music. i'm not a big fan of tchaikovsky, and i don't mind prokofiev, but when i ask amazon alexa to play tchaikovsky's beautiful violin concerto number two, i do expect her to put it on. no. she constantly confuses tchaikovsky and prokofiev, but alexa is the one dimensional child not worth paying for if you can't get the composers right. the distinction meant nothing to her. she just makes the same mistake over and over again. sure, i hear endlessly that amazon is going to have its own better chips that can tell the difference in your speech, but that's just not the case. in billions in potential revenue is lost. nvidia's new blackwell chips can solve the problem. it will apologize. it will get the music right. it will ask me which list i want. i will say i want dav

as we get through to their gtc conference and then into the back half, we will start to see their margins and i think that's going to help re-energize the stock. so we took up our estimates and we took our price target to $200 okay. >> so if you are that positive vivek on nvidia i know it's hard to model, but based upon how much attention nvidia gets and how much coverage nvidia gets and how much notoriety they have, how much of the entire semiconductor industry, all of the other companies that are out there making computer chips, how much is their fate tied to what happens with nvidia's stock specifically? is investor sentiment just tied to nvidia? and then by extension, every other stock is just different in their own way. but trades like nvidia does. >> for sure. and to be fair, this isn't just particular to the semiconductor industry, right? we see this in a lot of end markets that the way the leader behaves, whether it's in terms of fundamentals, whether it's in terms of their stock performance, absolutely plays a role in guiding the sentiment. but where we are as a semiconductor ind

. >> products coming at gtc, which which we will have in a couple of weeks. >> what do you make of the. you know in the regular session just about or percent after hours. you know 53 minutes into the call. >> yeah this really seems like a in line result and guide quarter and no major announcements, no major setbacks or pull forwards in the roadmap. so this is actually kind of the response i would have expected. >> okay, chris. thanks. chris rolland of susquehanna with the latest on the conference call. is this enough to move the stock out of that rut that you're highlighting the nine month rut, or is does it just keep meandering? >> i don't think so. i think there has to be some sort of, you know, kind of adoption story that plays out in other industries that suggest that this is going to be something that we can start to model out going forward. and i think that this open source thing is really interesting because, again, it might not be such a negative as was perceived a few weeks ago, and it might actually drive down the cost of compute, which will actually kind of get adoption goin

view, we've got a catalyst coming up in a few weeks time and is going to have the big tech conference gtc, which i think is going to be really interesting in terms of product roadmaps, technology and otherwise. but you know, until then, what are we what are we planning for? i guess short term is sort of what's what's i think in the market today. >> well. >> reuben, maybe we're just playing for a valuation argument that at some point says this is really attractive. i mean, you know, relative to peers. and i would just say also help us understand within your coverage, especially in the semiconductor space, i mean, where would you rather be given, at least in the concerns around ai, are certainly not places that i think there's really almost anyone else that can even be in this game. so talk about valuation and talk about relative value to the peer group. >> i mean, it's cheap. this morning when we were pitching it to investors. >> and even better. >> yeah got better. we liked it this morning. we love it now down in the low 20s on next year's earnings. right. and numbers didn't move much. ri

positive i think it's more about, again, demand generation visibility and really also leading into the gtc event, as we look out a couple of weeks from now is a positive as well. >> true. i know a lot of people are looking ahead to that. and you've got an overweight rating. think it's one of still one of the most attractive secular growth stories out there? jeff, just a final word on the broader markets. i don't know, maybe you can tell us why they've dipped lower here and we're all hoping maybe this was the end of the momentum unwind. maybe it's not. >> yeah. and i think, kelly, we've been conditioned for the last couple of years to have an unwind in a day or two. we have to go back when we see mag seven revaluation reset. it doesn't happen de-leveraging over 2 or 3 days. so with the vix up nearly 20, we are seeing more and more hedge funds, institutional investors reduce exposure to that mag seven. i think it's really healthy for the broader market. and one of the cushions or possibly one of the shock absorbers here, kelly, is the ten year note. the ten year note is at four and a quarter

you're going to see gtc. >> in a. >> couple of weeks. >> that's their. annual developer conference. innovation. >> you're just. >> going to continue to see. >> this this march forward. >> and so. >> i just think people. >> need to be patient. >> so i know you guys like. >> to report every. >> day. >> but. >> you. >> know. it'll be time. and the. >> company has. >> you know. >> progressed pretty. >> significantly from where they are. i think mike. >> was talking about. >> you know, 100 plus. >> percent growth. >> at this scale, you know, at a $35 billion data. >> center. >> business is pretty. >> significant versus. >> where it was a. >> couple of years ago. >> when i look at the top holdings besides nvidia, you've got broadcom, marvell technology. those have been favorites on the i trade micron lam research. you don't have amd i'm curious why and who which other semiconductors do you think are on the leading edge here after nvidia. >> oh look i mean you know there's a lot. >> of ways. >> to play ai. >> and you. >> know. >> we've been focusing on this for several years. and you know

that's for gtc. that's their the woodstock of ai. so otherwise you're kind of left there thinking what's going to happen. >> right. so we do have some catalysts coming up in march. >> yes. yes we do. i know i was at a really terrific fundraiser last night at the for the baby's heart fund where my wife, who lost a child and i was talking to doctor pet, and he's really one of the foremost pediatrics. i said, what is this going to be like three, five years from now? and he said, well, what you'll do is you'll say, well, we need a new heart for transplant. and you'll, you'll talk to a machine and say, we need these dimensions and it'll spit out the heart. and i said, well, there you go. use case. we don't have these use cases because we're so busy focused on the darn hyperscale. >> you think is holding them back from being that aspirational. >> too quick. it has to be faster. we have to go even faster than and faster. they kept talking about speed, speed, speed. no one's listening. we're all listening to whether china's going to get the

. >> and over again when you're even gtc. >> last year, the big. >> conference that jensen runs, that was all about how. >> blackwell will help. >> video and. >> video allows a robot to learn how. >> to do things now. video david is when he keeps saying anything. >> you can do, they can do better. >> physically, right? but they need to see the videos now. they can. and i think that that's. >> a big step up, and it's not. >> something that. >> deep sea. >> could possibly, possibly imitate. >> there are nowhere i know, and as this. >> year. >> moves along. >> we're going to be. >> monitoring so many. >> different things when. >> it comes. >> to the developments in ai. >> particularly, as you say. >> sort. >> of in. >> robotics. >> and what. >> advances are being made there. >> and what's going. >> to happen. >> but look, i'll be you. >> know. >> i'm trying to avoid the political. >> yeah. >> well. >> there's so much. >> going. >> on and that's all. and it's a lot to tackle for any management team, right. >> particularly if you're. >> in the line of sight of things involving tariffs in s

he was the one that was at the gtc conference in the first row. that's the conference last year. and michael i think has great, great confidence that things are booming. hp we're not sure. and then smci david, i leave it to you. >> i'm not. >> getting in. oh come. >> on mike. >> come on. >> no. all right. >> we're going to get to smci regardless who covers it. it is up 20% plus pre-market. we'll get to. >> some other. >> movers gm on this buyback and div hike. we'll get to jack in the box. three m jim talk to the box. three m jim talk to hood intuit workday (wind, rain and rolling thunder) (♪♪) nobody's born with grit. british anncr: rose is really struggling. it's something you build over time. american anncr: that's twenty-one missed cuts in a row. (car trunk slammed shut) for eighty-nine years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american anncr: rose, back in the winner's circle. (crowd cheers) (♪♪) roads. >> and bridges? think of a shared guarantees bond insurance as. >> your guardr