this is the first data center in russia built according to the highest reliability standard tr-4. ny solutions that will never stop its work. one of them - power backup. there are only about seventy centers worldwide with this level of fault tolerance. with the introduction of this object we have more than tripled. we will increase our own volume of engineering infrastructure and plan to reliably gain a foothold in the top five leading companies in the central heating market. currently , the volume of our infrastructure is 1,680 racks, with the commissioning of data center d9 moscow-2, as well as nopolis, the total volume will be 6,570 racks. companies related to critical information will place their servers in this data center. infrastructure. that is, enterprises from the energy and industrial sectors, banks, high-tech companies. rosatom plans to locate here part of its systems responsible for managing energy facilities. therefore, it is impossible to exaggerate the importance of uninterruptible power supply for its operation. this tsot is powered by city networks. backup source,

residents or data centers. ali: we're talking to you now via skype. we're using a lot of data to do it. as we increasingly rely on this type of cloud computing to do so many things, we use apps, we use, we do virtual meengs, that kind of thing. is there any way that these data centers can continue to expand, continue to grow and support all this usage, but do so in a more environmentally-friendly way? sachi: you know, it is possible to build cooling systems that use less water, but we don't really see those built out at scale yet. and you could power them with green energy. but again, right now we have a grid that's kind of stuck on fossil fuels, and we're slowly making the transition to green energy, but maybe not fast enough to meet all this demand. first, before we can really know what we need to do next. we just need more transparency from the industry, which scientists and activists both told me is pretty secretive. google is saying it's a leader in sustainable data centers, and they only began releasing their water usage data a couple of years ag

data center industry. what we had in the past but we are running all of the ai workloads and they are split between training and ai. i would say that industry is scrambling to build the amount of infrastructure needed to housing compute these applications. katie: what's going to perked -- david: what is going to prevent obsolescence? wes: that's a great question. our facility, we take that future growth. we think the power density goes higher, cooling. but i think that the blast -- the last 23 years were really driven by high-speed communications. as we go through the next 20, they will be driven by compute. we are looking to future proof that. by the way, the older style data centers are not obsolete. we still need all of that capacity for what we continue to use and it is an absolute pleat add-on to what has been done in the past. try not to be obsolete is making sure that you are future proofing your facilities as much as possible as we try to run at a high efficiency, lowering our carbon footprint. we

they aren't spending $60 billion on data centers. they aren't giving oracle i gigantic check like everyone else? they aren't writing multibillion-dollar checks to nvidia and part of some arms race . it may or may not produce actual profits. this isn't a nothing murmur, it's the real deal. a double cheeseburger with fried onions and special sauce. it's an impossible burger, the one that they ate at the hot dog eating competition. how dumb could these commentators be? did they go to business school to get a degree? i hate talking with a mouthful. did they start this to spew idiocy in your general direction? coming from that world it's uncomfortable to figure out what people could want. analyzing enterprise and enterprise hardware pushing this in a spreadsheets, apple is a consumer oriented company. it didn't give you robust dashboards for the next order. how will you know if salespeople are trying to sell those systems? a lot good this would do when you're trying to stock up for united health. we want serious and seamless one boards to

it is red-hot artificial intelligence data center.t for a while. is nvidia due for arrest? it's possible. he says that the stock and got to 50% above the average before the momentum fizzles and needs to take a breather. just look at what was done in the past. in may of 2023. p got a split adjusted price of $40. it was 47% above the 50 day moving average. it has been four months grinding out the base. and then going higher at $50. the stock was not paying off. after a couple months it doubled from 50 to 100. this one is incredible. before peaking in march. this is $1 trillion stock. yes, 47% above the moving average. this period of sideways training lasted two months before the trade out for big volume breakouts. fitzpatrick said that there is -- it is a coincidence that this thing is in place. hey, we love coincidences. is it so confident to believe that nvidia can keep running. nvidia should be able to climb $140 for the short-term price target. if the stock runs a little bit more before going to a sideways traitor. if we had more, i

this provides data centers around the country, you have to triple the power of those data centers the next four years requiring the power of the data centers, it is semiconductors, not just the semiconductors -- a broadening to cpus, memory chips. an entire ecosystem of computing power. jackie: liz: something we haven't heard a lot of experts talk about, the big financials. we just got the annual stress test results, they came out and all past, you are looking at names that are a mixed picture. bank of america, jpmorgan moving higher. these stress tests are annual tests to see if financials can withstand a big implosion of the economy likes of what happened in 2,007-eight. do you just enjoy financials right now? rates continue to stay high but it hasn't paid off of many of these names. >> couple things. the banks are better because mna activity is picking up and we have high equity valuations, this is good for companies looking to acquire smaller companies. liz: in this atmosphere, they, meaning the government, have stymied a lot of in and day. it's tough to get it through. >> that's

consumption from data centers in the u.s. e than double by 2030. wells fargo put it, quote, gas to the rescue. location is important since companies closest to demand growth centers could have the most upside. drillers like the ones on your screen all have operations in the northeast while williams and enbridge and kineder morgan in the southeast and data center buildouts are concentrated. then there is the utility responsible for supplying power to that data center. dominion operates in northern virginia. duke is in the carolinas. and southern company is in georgia. jpmorgan saying low rates and speed to market should attract data centers to these areas. frank, this all comes in addition to growth from electric vehicles, and manufacturing meaning on top of data centers, there is a whole lot of changes coming toour power grid. >> a lot of changes, indeed. companies have net zero targets 2030 or 2050. what part does renewables play in this story? >> wells fargo says of the incremental demand they think 30% from wind and 30% fro

the investment theme on wall street is all about the data center. what you need to know about the future of power mining, evs, all of those things in your portfolio before it is too late. all that and so much more on "making money." ♪. charles: so 110 years ago, today, june 18th, thousands of spectators lined the the river seine to watch airline safety competition in paris. it was the paris aero show. what was amazing about it, a lot of things were amazing about it, at one part the band was playing "the star-spangled banner," i don't know why it did that, playing "the star-spangled banner," all 57 came, piloted by an american, lawrence sperry. he incorporated a gyroscope that stabilized the plane enabled him to fly hands-free to the astonish meant of the crowd. he went around again, this time he came around, the mechanic got out, walked on the right-wing, raised his hands again. the band went crazy. they played the french national anthem, the crowd roared. he was an aviation and inventor superstar. he was born that day but so too was autopilot. i br

next, right back to the data center with the monolithic power systems. monochrome. doesn't matter anymore, does it? here is a term you need to no. content shared gain. it's the most boring thing i've ever heard but it makes you money. it is gaining content share with the giant systems. come on. right, nvidia! including their next-gen chip that will ship this fall. chips burn hot -- go ahead. where is it? monolithic helps keep it under control. yes, a.i. 21% up. then there is number nine. i don't mean to bore you, but i know i am. the semiconductor company is all aspects of tech and cell phones and a.i. putting other companies indispensable under one roof, $747 billion company no one has heard of but the investing club so we have a real big position in it and we bought it last year. i think it's going to be double from when we bought it. finally, you're probably aware of the networking star bringing nvidia to the networking grade appeared the ceo has been on the show several times and is simply brilliant. her team has received almost unstoppable for years now. cloud

d $5 billion in investment and digital infrastructure including $1 billion for data center in kenya.deal. th i because the g-7 and our partners have tuns for sound investments in infrastructure. we mobilize our create efficient ways to deriskm e private sector can get on board more easily. and you are g not just u.s. com. durk the g7 summit we're addressing aan energy, economic development, global security, food security, migration, digital connectivity and infrastructure is central to our progress across all of these of. i remember when i introduced ey said we couldn't get it done. it was only $1,300,000,000,000, we got it passed. it's having an impact on development at home. this is bigger than thatn a sense because we're talking about the world. so today■% we begin p.g.i.'s thd year. i would hope wn up the momentum. let's keep finding opportunities to invest in digital and energy infrasuck -- keep partners withh other and the private sector to mobilize even more capital, to go from billions we have to get to trillions that are needed. that's needed. to close this infrastructure ga

data centers are the nervous system of the ai system. they allow these companies to store and process the massive amounts of data necessary for these ai algorithms. a couple names are digital realty. they just announced a $7 billion joint venture with blackstone to build data centers across the world. data centers are where the buck is going, and they also offer attractive yields. >>> hold on for just a minute. >> i'm here to take responsibility. so that's all for now, and thank you. >> what about these new allegations? >> are your planes safe? >> will you address the family directly? >> are your planes safe, sir? >> what do you have to say to the families here today, sir? >> melissa, short and sweet. we didn't expect much from dave calhoun. he didn't say much, but that he is here in the spirit of honestly and transparency and will answer all the questions by the senate committee. that hearing starts in 45 minutes. other than that, he said nothing else and walked into the waiting room. back to you. >> a big day for dave calhoun. a moment

the largest data processing and storage center in the volga region has opened in tatarstan. the project was implemented by rosatom, and russian technologies and equipment were mainly used. he will tell you how this was achieved. it stores data of banks, enterprises, and companies. in a unit of information measurement, this is almost 9,000 tb, the same weight, for example, as 2 trillion photographs. this power was provided by the new data center in innopolis. data center scale, of course, they are impressive, it is the largest in the volga region. 650 m2, the area of ​​each such machine room, there are four of them, the power of each is slightly more than a megawatt. for comparison. the same amount of energy is consumed by a large residential building with approximately 100 apartments. the supply of electricity cannot be interrupted even for a second, so backup diesel generators are in use. each machine, in the event of failure of the second machine, can completely replace it. top-level safety cooling system for early detection of fires. she extinguishes the equipment while sh

a lot of data capacity center. caroline: maybe they're saving a little bit by apple not getting a cut on the chap gpt app for now, but we thank you. that was a perfect summary. meanwhile, coming up, we'll break down broadcom's pretty sensational results. shares surging as tim outlined earlier. it's all on a.i. demand. but we want to go back to what's happening overseas. chinese e.v. maker traded here in the u.s., went higher on the day. that's as we stop to digest the e.u. tariffs, which initially was a shock, but actually we think this is slightly less of a tariff than had been anticipated, 17%, and if they're going to continue to sell into europe. this is "bloomberg technology." ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business onlin

coming up we will break down the earnings of another player in what's happening in the data center andpe earnings with its ceo, of the conversation we are looking forward to. this is bloomberg technology. ♪ ed: ed ludlow in san francisco. caroline: we are up and away, we are currently still up more than percentage point. , big tech managing to lead the charge. it's like a cooling of the -- a slight cooling of the jobs market. we will see the fed able to cut, still resilient services sector and business activity in the united states. bitcoin on the up 1.6%. clips at 72,000 we go to more record highs. it won how to thousand dollars by the end of the year. individual names on the move. and ai theme at a chip theme as well. trading here in the u.s., but also over in europe. this as we see that yes it will be delivering its latest equipment making facilities over it tsmc. then we want to see the latest version at tsmc that pushed us higher. and they are mixed on a show me story. coming from cisco that they are networking gear of choice getting in the likes of ai particular we are down 2.8%,

the power consumption from data centers in the u.s.han double by 2030. experts say all of the new demand cannot be met by renewables alone. at least for the time being. meaning potential upside for energy or utility stocks and as fargo put, it gas to the rescue. and now, the location is important here. as companies closest to demand growth centers could have the most upside. like intera, coterra, eqt, they have operations in the northwest and williams, and enbridge and kinder morgan on type line. and the southeast, where there are buildouts are concentrated and then the utility responsible for supplying power to the data centers. dominion operates in northern virginia. duke in the carolinas. and southern companies, in georgia, with jpmorgan saying low rates and speed to market should attract data centers to these areas. and this of course comes amid electrification and reshoring and domestic manufacturing. bottom line, a lot of stress on the grid and maybe something to look at. >> we have spent lots of our youth in virginia and if you

we built 500 megawatts of data center capacity and largest day tay center host and then adding computingnow for ai workloads and ai workloads much, much small fertilizer 2022 and didn't see that market take off until the end of 2024 and nvidia and new revolution begun. we started and going for the transition and going to the click and see bitcoin or block chain data centers and new high performance computing data center is kind of side by side in our site in north dakota. liz: bitcoin pulling back from the 70,000 -- 71,000 high and at 65,397 at the moment, but how much has bitcoin mining changed since 2021? >> it's changed a lot and seeing bitcoin minors and facilities like ours and hash rate to the network and versus a lot more diverse minors since 2021 and china had to crack down on bitcoin mining and created a boom here in the u.s. and other places and at that time, china was 70%ish hash rate of the network and it's been a significant change over the past three years. liz: wes, i have to ask you because sounds like you have so many plans and everything is forging ahead, but the stock

away from water sources, nevada is an example where there are huge suites of data centers, so it ised into the desert to get the data centers, and it's same with the energy, if you are not connected to the grid, there is a reliance on fossil fuels that ramps up the energy requirement and the environment to emissions that come from running those data centers, and running those ai activities. so just to be clear, david, essentially it's the training of these language models, such as chatgpt, that require so much energy, rather than say, well, a user like mejust putting in a query with an ai chat bot. it's a little bit of both. so when you're...when you're developing an ai model, you have a training set. so if we were looking at image recognition of cats, you'd have 10,000 pictures of cats and you'd go through and you say, "this is a cat, this isn't a cat." and that's an awful lot of energy. that's a large, large proportion of the... the energy required to get that al model running. but then every time you check in, you're checking in and there's a small piece of energy, but you're one

that means more and more data center, ten times on the call. it is always about being in line with jensen, i call it. they are right with jensen. and once they clarified things, they used those off the races. first of all the hyperscalers. everything to the super micron, taiwan semi. but so did vistra energy. and the data centers to electricity like crazy. they would twirl higher. and apply the materials, they soared too. upgrading from a sell to hold for the first two. now i rarely, if ever, seen the kind of pin action like we're getting through here. they reported last night a great quarter. now we've got four nvidia mentions in one jensen callout in that security call. they seem to be catching up to the fundamentals. that's partially driven to the company with jensen huang. and maybe even just film them together. where she snowflake tonight. okay, on monday they announced an important partnership with nvidia. jensen joined in virtually for the news. last night sysco talked about being the ethernet partner and how it could be huge for numbers

the digitalization of everything is being driven by data centers. and just the connectivity of everything. but remember, everyone in the world has, in some way, committed to "let's have less carbon." and it's just transitioning the economy. it's not good or bad or green or black, it's just, let's just transition the economy to have less carbon. so we are funding that. and the leaders in that today are the technology companies. so a lot of this is being driven by the technology companies to go green. so we are one of the largest builders of solar and wind and, now batteries, to be able to get carbon out of the system. and whereas years ago, we sell power to the grid. today, our power is mostly sold to global corporates. francine: but -- and again, this is, you have to take a bet on what kind of technology? or do you have to take a bet on just the infrastructure that supports it? bruce: we were doing wind 15, 18, 20 years ago. we were doing solar 10 years ago but very small. and only when the cost curves made solar and wind at the point where they wer

it's a modern data center in every way when you're standing inside of it. oil field. >> crusoe energy first used those electricity-gobbling data centers to mine bitcoin. now most of that computer power is being used by artificial intelligence companies. the first place to let them try this in 2018 was wyoming. >> that's not necessarily an idea that everyone's going to embrace automatically right off the bat before it's been done before. wyoming was. they invited us to come do it for the first time here. we did it at a small scale. we proved that it could work. and that helped us attract the funding and the other projects that helped us scale to where we are today. >> how many of these centers do you have up and running currently? >> we're approaching 200 by the end of the year. we'll have about 200 of our modular data centers deployed throughout the united states and now internationally. >> how do you assess your environmental impact? >> today we're operating at a scale of more than 20 million cubic feet a day that would have otherwise been flared and waste

someone will cool the data centers.ivative trades on the ai theme, amd or nvidia, doing extremely well. neil: this internet boom all over again. they are making money hand over fist back then. a lot of companies have yet to prove that. i wonder how you relate that? >> the stark difference is you are not trading on eyeballs, meaningful revenue generation for larger companies including ancillary plays, there's revenue, earnings, net income, this is not, they are making plenty of money. and the comparison in 90s, everyone jumps right to 1999-2,000, there are six years of build out leading up to the blowoff in 1999, the best analogy i can give you is the netscape ipo akin to the release of open ai, it was in 1995 and there were five years thereafter buildout in telecom and cables and infrastructures that were built and for market did well. neil: you are showing that. >> they did quite well for many years. earlier in this process. neil:s were roaring period. these are valid points. history that you have to know about. great

, study everything that goes into the data center, study who supplies power to the data center, study builds the data center, study who owns the data center figure it all out. >> there is eaton, dover -- >> what's going in. >> broadcom. >> that's becoming a huge question mark. >> constellation energy and yesterday pcg said that. >> and whether we're going into surges of nuclear power. >> ten-year contracts soon between liquefied natural -- natural gas companies and data centers. it will cause a surge in nuclear power because the power is going to grow 6% i had patty poppy on last night, from pg&e in san francisco, the amount of -- the amount of power that they need i mean, it is one of the great growth stories of our time and those take seven or eight years to build and everybody wants to know, hock puts on a clinic, he puts on a clinic about what is growing here and get out of the way anyone who is short nvidia i sent them a notice for their funeral a thousand times i don't know, maybe it is their vampire story. >> cramer's mad dash in a moment countdown to the opening bell. one more

you were building data centers and expect 28 by the end of the year. you are investing in the u.k.hat is powering this? michael: first of all, thank you for having me. the groundswell that is occurring within the broader ai market occurs across many different labs and companies but when it funnels down to the physical infrastructure required to build and drive the computing power, there is relatively small number of companies that have the capacity to scale up and deliver and compute at this level with the correct software so they can train these models and deliver products. coreweave is one of them. the $12 billion was raised in debt, and that debt is focused on building the physical infrastructure, purchasing the servers, standing them up and ensuring that we have top-flight best in class software layered to enable our clients to use that compute. tom: coreweave stacks that on top of the hardware, that is crucial. in terms of the gap between demand and supply, where are we in that evolution? michael: that is the billion dollar question. right now where we are is in a position whe

thank you so much for being here i know you've begin about ai crazy driving data center a boom therepital spending part of the economic backdrop particularly when led by technology, what is happening today, and the ai boom has created in data center, gone down from 10% to 7.1% past decade going to lead to more construction, of data centers helping support, you see, revenue up over 260%, on balance, magazine 5 double digits paroling not only capital spending but obviously, as you said, stock market. maria: nancy of you talked for awhile about this economy called it bifurcated economy explain to our audience what that means what you see in terms of the macrostory right now if you look at interest rates this morning, that are trading up 10-year yield is now up to 4.46% up 2 1/2 basis points as federal reserve kicks off two day monetary meeting wild expected to hold rates steady. >> a.i. boom keeping economy stronger longer, therefor interest rates indeed economic background ises if you're half of theier doing pretty well, however,, it is becoming increasingly bifurcated people have inte

intel's data center unit is going sideways. caroline: what they have to compete on, once again annual upgrades to the offerings of semiconductors. even if it is expensive. >> mark jensen has already decided i've got four big customers, big hyper scalars but i need to broaden the audience so he's networking as you mentioned full servers basically cyclical computers and he's put everything together already so pretty much anybody can adopt it. anybody trying to crash his party like lisa of and has to come to the table with everything including the software and that's a massive amount of effort that's required. he's got the lead. >> he does and at the moment it feels as though everyone else's snapping around his heels. where is ultimately for now all the value attributed to data centers. in any of it be thought to be brought this $1 trillion market that he talks of, how much of that will be allocated to pc? >> that was the show -- the sideline of the show was guess what your pc is going to get interesting again. we have lisa sue of

we're talking about the whole data center, phenomenon data center, inside the rack, talk about the sizecompanies. does this justify it. >> thanks for having me, charles. we're already seeing over $100 billion of a.i. investment in the data center segment. a.i., revenues 100 million. broad cam this morning $10 billion. they're expecting $11 billion this year coming from a.i. and all of this is basically coming from zero a year-and-a-half ago. charles: right. >> this is why you're seeing the stock prices rise at such meteoric levels, right? it is all drift renn by earnings and not so much by valuation expansion. charles: you have inside the rack, processors, networkers, outside the rack, power management, terminal. we'll break it down and do a little bit more of a granular look. let's do this, the a.i. server shipment part because this is amazing numbers we're looking at here. >> that's right, charles. we expect pretty significant increase in a.i. servers looking into the next self years. right now people are focused on this year and next year. and if you look at cap-ex estimates for the

you need more copper for data centers. for production and to make all the equipment you need. >> and remember all the spending was required even before a.i. and data centers blew up. that's a theme of this year. we've been talking about all these great upgrades, all the hardening of the grid that has to happen thanks to all these record storms we're seeing and low growth. >> storms? e.v.s, data centers, the whole thing. it's a conflation. pippa, thank you very much. >> kell? >>> congress is starting to realize the importance of increased power generation. they're coming together to pave the way for more nuclear power. >> kelly, as you guys were just discussing, there is a need for more energy. it's one presidential signature away from making it easier to build facilities in the u.s. and provide a bump in electricity needed to power a.i., electric vehicles, crypto, and more. it's a bipartisan bill and it would basically look to streamline the environmental reviews and processes. it would look to reduce fees. and it could sa

data centers are growing nine to 12% over the next five years. supply chain in all of their hubs. charles: right. >> it is just a great margin business and free cash flow business. charles: i charles: i love when you come on and give me another name to add to my watch list and homework assignment. nancy, thank you so much and hope to see you real soon. let me switch gears, folks. moments ago president biden exercised executive action for title wave into the country. take a listen. >> if a individual chooses not to use our legal pathways and choose to come without permission and against the law, they'll be restricted from receiving asylum and staying in the united states. we must first secure the boarder and secure it now. charles: this move should have been done a long time ago. interestingly though, a lot of economists are suggesting that illegal immigration saved the u.s. economy. now, it is true that foreign born workers have gotten the overwhelming share of jobs since the pan democrat and i can there's lots of reasons for this and many of whi

you are financing consumers, data centers, energy transition. huge growth capital expenditures. sonali: how much are those types of transactions becoming more attractive for firms like blackstone relative to the private equity backed financing? michael: they are attractive relative to the risk. we originated billions of dollars of single a rated paper at 200 basis points of excess spread above at what you would buy a corporate investment bond. if you think about areas like energy transition and data centers, they are massive opportunities with trillions of dollars of capital required to fund them and we have incredible expertise broadly across our entire franchise in real estate, private equity and infrastructure. sonali: people look across the credit landscape. people like private credit. at the same time you look in the public markets and spreads are just at incredible levels and you do both from where you are sitting. what do you prefer? michael: i think you are absolutely right. public market spreads have gotten awfully tight because of strong technical flows into the market

we will use this as data center. we have utility, bank, oil.ried about the quality of the portfolio not the diversification. that's it? these people had all these nice things to say. now i have to say mad money is back after the break. >>> pop open those umbrellas ante up your toughest questions. cramer takes on all comers in the lightning round. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley at corient, from wherever you are. wealth management begins and ends with you. we believe the more personal the solution, the more powerful the result. we never lose focus on the life you want to build. it's time for wealth solutions as sophisticated as you are. it's time for corient. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, wh

if the data center rolls over, we know evs are rolling over.ll i can tell you is that the slow ones now will later be fast. the times are changing here, david. >> times are changing, yes. >> go away from my window, chief. >> the stock is up 35%. didn't have a good year last year, freeport. >> freeport has been a commodity until now. now it's to solve a new machine. >> jim, i'm going to weigh in a little bit on paramount, just a bit of a follow from our stories yesterday. really this is all a waiting game on paramount. they had their annual meeting today. >> are they giving everything to you? is everything to you? i'm saying no one else has paramount except for you. >> that's not true. >> joanne ross, scott mills and george chiefs -- >> yes, that's the three people running paramount. they had their annual meeting today, kind of interesting given everything going on. shari redstone spoke very briefly. i'm not going to go through all the terms we shared yesterday in terms of what skydance and its partner, redbird have offered. it's all up to her,

energy projects, to bring cleannj electricity to 1.5 milln families who had no access to in a new data centerther in kenya. we have laid afobd -- affordable,iable connectivity. we're announcing the first train line to ex-tand -- extend across the continent. i thinks that game changer. i really do. the continento billion people shortly, and it's a game that normally take 45 da0 hours. think of how tns trade, agribus, security as a whole. i want to thank the prime ministr)■per for partnering wits in the e.u. i want to thank presiden” minis, i shouldemoted him. they both came tog to launch the economic work in the philippines and in the pacific as well, an alrey we mobilized capital for sectors critical to our future. rgy. agriculture. semiconductors and so much more. all told i'm proud to say the united states has mobilized mors around the world thus far,ill gy to go to close the infrastructure gap that holds too many countries back. but togeer we're showing democracies can deliver. this is an important moment be able to do that. when you focus on people, transparency and high standards, on qua

they supply the infrastructure in the cooling solutions to data centers. up over 100% year-to-date. how about a utilities company. a dividend yield of 3.6%. a defensive play but they are also involved in data center power supply as well. >> byrd avenue has a 36 forward pe ratio which is a little bit more palatable. again, matt, there are other opportunities elsewhere. what else. >> we think the best rate is not to make a trade right now. we see clients all the way cash right now at the moment they should not be. we have not seen that in 20 years. compound real wealth without taking risks. investment, high-heeled, municipals. all quite tight. we don't think a recession is happening. we don't think you should ever trade on the fed did decent value without taking major tilts don't take major tilts. >> longer term duration treasuries? >> slightly longer. the average duration is about six. around six and a half to seven. that sort of range. have some initial exposure. you will want that to be brought across fixed income. be diversified. >> great messages. okay. you're not signing people'

on data centers, i now you are using ai at zimmerman advertising what tisch >> a.i.he power grid companies like fp&l, it is interesting when you look at it kill hours as though four cents we pay up to 15 cents or greater for same kilowatt hours. maria: why getting such a better deal away from consumers >> probably they for the usage, i had idea with this i think we should have data centers popping up, 2600, as you said, in america, have to have corresponding land to put out solar panels to run and solar fields to run data centers they can produce enough kilowatt hours to power them so doesn't put a strain on the grid would put a strain on consumer. maria: don't you need that like arizona florida >> exactly, but you look at them say what could happen? what could happen is that massive blackouts throughout many, many states don't have reserves on electricity like florida does, we have a good reserve there for many states don't had been reserves we could have a big reserve because solar fields that are built in florida everywhere, when you look at that, you go around yo

dell was down last week over concerns maybe the business world is not strong enough by beading data centers. and they are dell's bread and butter. anything that makes us think twice about the ai fueled data that triggered so much stock buy until last thursday everybody figured was the biggest demand generator out there. more on that later. dell's decline could lead people to are a very negative conclusion about one of the fastest growing parts of the economy, data center. i think they're absolutely wrong to reach that conclusion. but what do i matter? we see oil in total collapse, right? now again there are major mitigating factors, including a road map for how big producers can eventually bring more oil to market. but just dell's weakness could mean weakness in the data center, we're just at the start of summer driving season. they don't think that lower oil could lend to rate cuts themselves. i think that's a big mistake. as for me, like with dell, i want to buy the oil on weakness. i don't care about technical breakdown. i think the economy is we can enough to crimp demand for gasoline.

automation, electrification and what have you should you have talked a lot about ai and the buildout in data centers and electricity that would be required to power those. there are several different trends that would support a multiyear multi-decade investment. potentially could be more tactical and i put the last school which is companies looking to focus on their core businesses. spends, splits and then those divestitures could be our part of m and a committee. -- m and a activity. sonali: don't miss our bloomberg invest event with leaders in asset management, banking, wealth and private markets. this week will be airing the best moments from our station on bloomberg tv and radio including conversations with todd boley, katie koch, gary gensler and many more. this is bloomberg. ♪ to me, harlem is home. but home is also your body. i asked myself, why doesn't pilates exist in harlem? so i started my own studio. getting a brick and mortar in new york is not easy. chase ink has supported us from studio one to studio three. when you start small, you need some big help. and chase ink was that for me. e

and his wholistic view of the data center one large gpu means he's not only investing in core gpu but connectivity and i think if we had do what he has done in the prior decade over the coming decade that the gains that he will offer in the reduction in the cost of commute will truly make a.i. ubiquitous. >> what companies, cj, or whole sections of this industry therefore, are effectively dinosaurs. if that's what's happening and they're taking over these other functions and creating a new galactic computing platforms there has to be net losers who would otherwise get this capital and investment. >> i think broad com did a job talking ability nvidia's mainframe strategy over best of breed. i think nvidia is securing the training market but the inference market will have an opportunity for many other players whether it's custom, silicon by broad com, marvel, or amd with their own gpu. so i think there's a big enough playing field for success for all those companies but if i think about the company that's going to grow the fastest and hold the dominant share, i continue to think nvidia.

i believe there will be a lot more data centers but that is the explanation for the reason action. however, i would ask that we need to see eakness across the board for the fed to make a move. we need to see commodities lower which is the case of last five days, not just oil. we need to see commodities and lots of layoffs. we are not getting that and that is the problem. i do not want layoffs. you don't want layoffs but we need to see lots of layoffs. that means that friday when we get to the payroll report that could undo any perception of a slowing economy that we are getting from some of the data that we see. we just don't have enough information that wages are headed lower yet. today is what i call work in progress from the fed perspective. that is really how i want to leave this. you get a day like today it is a work in progress towards a rate cut. hence the rebound by late afternoon. we have days like that that include setups for rate cut but that does not give enough evidence to move the needle. without enough evidence we can selloff briefly before finishing up slightly. tha

they are spending billions of dollars for data centers. most of the reaction has been schizophrenic. last time they called a story of aggressive data center growth it was well received. then they said the same thing and it was poorly received. i think they can talk about going all out and it will go higher. we need to think about the $28 billion acquisition. this electronic health records business has not been doing well. my sources say epic, a private competitor, is doing a lot of business. i'm worried about any questions about them n the conference call. this one makes sense but does not usually pop up. casey's general store. i know it sounds like a 7- eleven or something but it has a secret weapon. breakfast pizza that remains incredibly popular. it is eaten all day but who does not want a bacon egg and cheese pizza for breakfast or lunch or dinner? it's been a home run for this store chain that most of the people in new york have never been to. on wednesday first we get the consumer price index. the cpi will probably come in way too ho

if you want real, real performance, it's going to have to be done on data center hardware through theike of, for example, openai. but openai is only one player in what will be many, and the application layer has not been decided. the hardware layer has. everyone is coalescing around nvidia. >> gil, he says you can all be right. >> well, first of all, the models are getting smaller so fast that i'd argue that, again, by the time we're talking about this next year, almost all inferencing is going to be done on device. then in terms of the usage at microsoft, it is microsoft customers that matter. the fact that microsoft can sell capacity on azure doesn'tmean anything unless their customers generate revenue based on a.i., and they are not. there's probably single digit, billion dollars of revenue from a.i. applications right now, in spite of the fact that microsoft, amazon, and google have spent close to $60 billion on nvidia chips this last year. for that spend to be sustainable, microsoft's customers are going to have to generate more than $100 billion of incremental, annual revenue th

in the hardware the support the data centers within the a.i.nfrastructure in the cooling solution to data center, another area is small-cap biotech company like alton lyons who supplies therapeutics for the treatment of obesity, society is overwhelmed with interest and obesity related drugs in the last area is aerospace and defense as we need to upgrade and replace our military in this country and that's where the money is going to go. maria: i like that list is similar to tom lee what is working ozempic related companies in healthcare and biotech, a.i. related companies like nvidia and cadence and others financial, industrial and bitcoin and its proxies that is interesting the bitcoin encryptor has kept up with stocks as well and the rally this year. >> it really is you can look at crypto as digital gold for the uncertainty and volatility i'm not a crypto fan i don't understand it but i like those areas of aerospace and biotech and a.i. right now. >> aerospace important in this dangerous world, great to have you, thank you so much, we are grat

microsoft is going to collect its own big tax break from the state for building its data center here. land that the taxpayers bought for foxconn. but, because foxconn had first refusal on that land, that $50 million will go not to the taxpayers, but to foxconn. guys? >> and how many people will this microsoft plant supposedly employ compared with the tens of thousands or more than 10,000 as i believe you said that were to have been employed at the foxconn installation? >> reporter: yeah. supposed to be 13,000 jobs at foxconn. microsoft will they say employ about 2,000. foxconn at this point does have a little about 700 and some employees here in wisconsin. so, they are not anywhere close to where they thought they were going to be. >> how did foxconn get the land and therefore get the proceeds from the 50 million that microsoft is going to pay allegedly -- look, to the county but it goes to foxconn. how did they get that land? did they buy it? >> reporter: that was part of the deal. part of this subsidy that the county, the town and the state agreed to to lure foxconn here was that th

we have a 1200% increase in electrical, that's power plants plus data centers and computer certains in the u.s. over the past 101 years, can be and that mostly -- 10 years, and that mostly has been in the last few years. so we are going to continue to see this rally head up especially into the end of the year. stuart: you like dell and the southern company. you said both are connected to a. a i.. spell out the connection. >> yeah. dell is a little bit of a weird kind of on the periphery because of something called edge computing. so, yes, we have the cloud where with stuff goes out to the cloud and comes back, but for things that need to be very, very low latency, low time to get from here to there and back like automated driving and other things, you've got of the data center ises everywhere, small ones. dell is specializing in that. put out a big software platform last year, and they're doing really well implementing it in these smaller data centers. southern company, stuart, we've talked about a it before. we've had it in the portfolio that we've recommended for years. lots of power

we're talking about the strain on data centers and on the electrical grid because of the data centersng because of a.i. and he is sending 225 million to help them reconstruct their electrical grid. >> well, maria, as you know, i'm the chairman of the energy and water subcommittee of appropriations and in that regard i have really put out the clarion's call. we need more energy in this country because our electricity needs are going to go higher and higher. worldwide demand for electricity is so important. that's why we need fossil fuels, oil and gas. that's why we need to make sure that nuclear and i'm the leading congressman in both houses on new nuclear, we need nuclear. oddly enough, some of the progressives joined me on nuclear but they just can't get away from their ethos of worshiping only renewables. questiowe can't get there with y renewables. that's a he reality. donald trump is going to get in, his new secretary of energy will probably day one begin to get our energy costs out there, get them lower, get abundance back in america. but in regard to putin and ukraine, putin is

they're going to build 100,000 gpu data centers.ess and it has been growing 20%, 30% a year in units, cloud. that's what that is. and their returns on capital have been declining, 7%, it was in the high 7s, now it is 7%. and those are centers that are $300 million. >> we can talk more about this, but the issue that comes up is the potential conflict to have somebody who is partially at tesla, who is partially at spacex, who is partially at x, partially at ex-a.i., how are you knowing if you're getting your money's worth, instead of having it under one umbrella, how do you make sure there is not a conflict of interest. there was a cnbc story that took a look at ex-a.i. elon sending nvidia information -- asking that the chips that they were granted that were in line for tesla be given to ex-a.i. instead. and that raises the question of shareholders w s s who are not invested in the entire elon ecosystem, do they run the risk of being short changed when elon moves things from one project to the next? if you have tesla employees working