coming up, ai's impact on the fintech space.cuss that and more with rex salsberry coming next. this is bloomberg. ♪ [announcer] if you're thinking about earning your degree online, snhu can help you get there. - i felt supported throughout the whole process, even from the first call. [graduate] my advisors consistently reached out and guided me along the way. - it was like i was talking to a friend, like someone that i had known for years. - the instructors were very helpful with everything that i was going through. [announcer] we'll be with you from day one to graduation to your dream job. ♪ it all starts the moment you find your program. [announcer] go to snhu.edu to get started. ed: today's vc spotlight, we take a look at the world of fintech. that's getting. probably artificial intelligence. we welcome the general partner and founder of cambrian ventures. $20 million in assets under management. also a founding member of andreessen horowitz's fintech team back in the day. i said just kidding but whether you are in fintech or

in the area of fintech.s fund the ceo, arian simone. inc. you so much for your time. coming up, arm files for a massive ipo. what we know coming up next. this is bloomberg. ♪ ed: softbank's semiconductor design unit arm filed over the weekend for an initial public offering. joining us now is our semiconductor correspondent. valuations are interesting. we have been covering this story for some time. where do we settle out on that? >> nvidia was trying to buy them for $40 billion. based on their revenue, that is a massive valuation if you were to compare that revenue level to publicly traded companies. they would be worth $10 billion, less than 20. hard to put a valuation on it. a lot of people like their technology, prospects. ed: what does arm do, what is arm? ian: hard to understand the licensing of an instruction set. they produce a layer of technology that is in every smartphone, increasingly in computers, also in data centers. they are moving up the food chain, doing more of the design, the things that q

in the fintech space, they're kind of valuing revenue growth higher >> for sure. know, dee, it also strikes me that when you have this area, let's be honest, these are commodity services i mean you know, i can send you cash the same way no matter what service you use. so, when that's the case f you're paypal and kind of the incumbent and you have a little more market share to give up than gain when everyone else's market, it is maybe that also explains part of the valuation difference because if you look at paypal's report, they say, well, we still are -- three-quarters of e-commerce vendors still have the button on there. that's more market share to lose, not gain. >> i love you bring up that idea of commoditization because i think this is a question that sort of the entire fintech industry faces you look at affirm when buy now, pay later looked innovative but now everyone is doing it bay in 2021, paypal had a market cap of $350 billion. it was worth more than all but one of the major banks today it is worth less than all of them. it kind of tells you that maybe

you are someone who has worked at other fintechs, sophia and tell us about fintech, whether this is a moment for it to outperform or whether there is more worry about new entrants. marcos: i hate to say my glass is always half-full but one of the early winners is fintechs. others like mercury bank have seen a lot of influx for two big reasons. they built tech stock on top of legacy infrastructure which helps them on board and open up accounts were easily. they work with multiple financial institutions and partners. not only does that allow for them to see more diversity but it allows them to extend the protections that fall within that for their consumers. while a lot of companies and individuals have gone back toward these pillar banks during these uncertain times, it is -- it has exposed a lot of inefficiencies behind these institutions that rely on individuals time and processes to open up accounts. this is an issue and instance of why fintech and digitization around traditional services is important. caroline: what do you want to see built this moment when you are focused on finte

why are you then more cautious about fintech generally speaking right now? question i think there's a lot of headwinds coming to fintech, right? for example, we downgraded visa last year. and that was because of -- part of it was because of the cash to card which is driving about a third -- 45% of the growth is coming from cash to card migration. we're hitting the ceiling of that the more important one, july 1st, the federal reserve is coming up with a real-time payment scheme >> fed now >> exactly it's called fed now. and everyone's dismissive of it. but if you go back to the doj indictment of visa when they tried to buy plaid, the visa executives actually like said that if they can't buy plaid this is in the doj, they can't buy plaid, it's a 3 to $5 million headwind to their -- >> that fed now will be. because it's coming into the picture and disintermediating some of that by allowing these easier direct payments it's a clever thing to do to read their defense of why they want a merger to proceed and that merger was ultimately blocked? >> it was blocked. t

has a third largest fintech business in the world.ve more fintech unicorns than japan, france, germany, singapore put together. technology is disruptive but is also our friend. that is where the future will come. tech, fintech, green, renewable tech, life sciences, biotech. we have four of the 10 best universities in the world. we have great entrepreneurial talent. we need to address the issue is how we do the accelerated funding for that. that is why i advocated for the future 50 building ground fund. -- $50 billion fund. we want to make sure we have the best tech research in the u.k.. this is an ecosystem we have to create. it is not done overnight but is something that is vitally important. manus: thank you so much. that is nicholas lyons from the city of london. coming up, we will speak to roland busch. this is bloomberg. ♪ dani: siemens has raised its outlook. they now see revenue growth of up to 11%. ceo roland busch spoke to bloomberg. roland: supply chain is easing. with the exception of some semi conductors, we see prices goi

i put it to you, how much of a worry at the moment is fintech? the ability to which we can withdraw our deposits from banks? does that speed up the anxiety and the crisis cycles that we are seeing? ? >> thanks for having me. it certainly plays a role. i think we have fintech technology to pullout our deposits quickly. what really is the problem with this particular banking crisis is the high concentration of un insured deposits. we have banks, silicon valley bank had 90% exposure to uninsured deposits. by their nature, uninsured deposits are not sensitive to the fed and insurance. the fdic insurance. rather, they are opportunistic. they move fast onto a better opportunity, or they get scooped and they move in tandem. that is what we saw in this most recent banking crisis. caroline: are you expecting a change to whether all deposits are not being injured by the fdic? candice: if all deposits are insured by the fbi see, that means the fdic and bank fees, the charge for deposit insurance, will have to increase and will have to be distributed differe

i'm very involved in tech and fintech. we have seen those companies go down 50% to 60% and 80% in the case of klarna we are seeing the re-balancing of the economy post-pandemic we got height with the pandemic investments. did that become the big thing? now we are stepping aside from that i think that's what is really happening in the u.s credit suisse was a different case nothing to do with the interest rates or the exposure to tech. it was much more to do with, you know, basically mismanaging their accounts and auditing. very different cases >> chris, thank you so much. >> thank you, chris, for joining us on the show chris skinner. >>> also coming up on the show, the uk conservative party comes under pressure after facing a crushing defeat in early elections. >>> as king charles hopes the coronation can bring his country together my name is ashley cortez and i'm the founder of the stay beautiful foundation when i started in 2016 i would go to the post office and literally fill out each person's name on a label and now wit

let's bring in the managing director of fintech services andrew, good to see you. is paypal kind of a problem for the broader, what, payment space? >> i think paypal is a specific case and when we look at the bifurcation of the market between the legacy payment providers and some of the next gwen digital competitors i think paypal is struggling to maintain the reliability of its brand and it is blending down the take rate and blending down the margin and more than i would have expected. i was disappointed to see that it is going to take longer than i would have thought for the strategy to play out. >> un"the wall street journal" is reporting on this a lot of people are talking about buy now pay later having to face characteristics where the base, if they're not making payments they are cut off from access to some of the products and have to shop around. they are going through their first down cycle how do you think they'll come out of it? >> i think when you look at paypal bnpl is a nice add on i don't think it is the key driver it is much more important for a pure

it is what ai can do for existing fintech players. how is ai going to booster offering?here are you investing to jump on the bandwagon, so to speak? >> i think ai will completely transform our industry. there are a couple different players. you can think about it under the employer experience. how can you make it easier for employers to do their experience -- their expenses or not have to do them at all? we also announced earlier this year cfo for everyone. if anyone has questions, you can ask the chatbots and it will respond to you. all the way to accounting and operations. i think it will completely revolutionize and transform our industry. we are investing very heavily into the development of new capabilities. over the next few months, you will see a lot of very innovative things coming out. ed: when does brex go public? >> we don't have a timeline yet. we are not i guess being a public company in any shape or form. being said, i would love to be a low volatility public company. we will probably wait for that to happen before we go public. other things to remember is

we have been talking about fintech. what apple is doing on the side of things. caroline: apple helping to drive the market higher and you mentioned it, let's talk about how apple ceo tim cook was discussing the earnings. he was on the call after the beat. he touched on artificial intelligence. >> i do think it is very important to be deliberate and thoughtful in how you approach these things. there is a number of issues that need to be sorted. caroline: let's get more on all of this. scott kessler. let's go back to basics with that it the broader picture. were talking about nuances of ai but really it is about iphone with demand internationally. scott: if you think about the quarter they reported, more than half of revenue came from my phone. iphone outperformance but as you alluded to it seems that major other product areas, we dig about hardware, mac and ipad and wearables, those also i declines -- those all saw declines. iphone was the standout in total revenue but also in the beat. that helped carry apple over the finish line. i think there is a real interes

double downgraded to underperform at clsa it gives us an opportunity to talk about fintech like paypalad its earnings let's show paypal today. new 52-week low. that was before the open the lowest level since september of '17 the stock is getting a rebound, though you own paypal what's your takeaway here? >> so if you listened to the call and not look at the stock price, telephones not a bad call a billion free cash flow they estimate $5 billion free cash flow for the year they're growing up until -- up until we're still looking for a successor for dan. and it's like that's until the end of the year. a company with a market cap of, what, $65 billion, $70 billion that, to me, is stuck in the mud. you cannot have a company this size in a competitive market with no ceo because that doesn't make any sense and so i thought it was just almost unacceptable that they're not further along in announcing that and that's like a disney issue you have to have a long-term successor. for me paypal is on my chopping block right now because this is not a company that is acting like they need to be in the

the investment minister, lord dominic johnson's trip is aimed at fintech and financial services, thee uk has not visited since the mass protests of 2019 authentic and down the national security law which was imposed by beijing in 2020. the move strained relations in china and led to the creation of a visa scheme to allow hongkongers to come to britain. in other stories for you, why are we seeking to pigeonhole people in the world of work? after all, the world of work? after all, the engineer who has worked tirelessly on a web project would also have the missing creative inspiration to make the visual side shine. my colleague david harper went to meet jan haaland who started his career in the it industry in the 1960s but went on to work in the film industry, contribute into some legendary movies. i contribute into some legendary movies. ., , contribute into some legendary movies. . , , movies. i was always interested in business _ movies. i was always interested in business and _ movies. i was always interested in business and figures - movies. i was always interested in business and

fintech, it turns out mastercard has been the fastest grower in that space for ages. no credit issues they don't lend money. lots of special services that distinguish it from visa and a gift if this pulls back and know it will break down in the negotiations. >> buy, buy, buy. >> i have a tougher one for me, biogen there's so much good news about its alzheimer's drug and potential treatment or a marker or als these are horrendous diseases. and all this good news for biogen makes it a speculative behemoth i think it's unlikely to repeat from the high 70s to above 100 what we saw in 2011. eli lilly has a similar drug for it but a diabetes and weight loss combination taken separately under the name mou mounjaro it is being tested for blood proop and excessive drinking the surgery play we had on the show, wow, a good story and great back then in 2011. intuitive was focused on prostate-related ailments. they go in your pancreas, liver, the whole surgery has had a renaissance after a full stop caused by covid and the numbers will be good enough intuitive surgical can rival i

from fintech to cyber security, we've got a big show out hear at the cnbc summit in santa barbara on "mad money," we're always looking for a way to capitalize on a rise of sustainability initiatives across the globe after a recent acquisition, carrier is set up to do just that getting the latest from the ceo. >>> then i've called in, you've called in, we're all asking about what is the deal with sofi two years after its spac debut, i'm going straight to the source to get the answers to the questions you keep asking and palo alto after the bell don't miss my post-earnings exclusive with the company's top brands, so stay with cramer from beautiful santa barbara, california >> announcer: don't miss a second of "mad money," follow @jim cramer on twitter. have a question, tweet cramer, #madtweets send jim an email at madmoney@cnbc.com, or give jim a call, 1-800-743-cnbc head to madmoney@cnbc.com. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we

a bank of america company. >> the fintech space is resilient to the volatility and

minister lord duncan johnson's trip minister lord duncanjohnson�*s trip is aimed at boosting trade in fintechsited since the mass protests of 2019 since it condemned the national security law which was imposed by beijing in 2020. the move strained relations with china led to the creation of a pisa scheme allowing hongkongers to come to britain. another story for you today, why are we seeking to pigeonhole people in the world of work? big question. after all, the engineer who has worked tirelessly on a web project could also have the missing creative inspiration to make the visual side shine. my colleague david harper went to meet lan island, he started in the it industry and in 1960s but went on to work for many years in the film industry, contributing to some legendary movies. ~ , ., movies. why was always interested _ movies. why was always interested in _ movies. why was always interested in business i movies. why was always i interested in business and figures on planning and organising things, and that also led me to the film industry, because they did the same thing there. you newsstand

. >> paypal, the fintech stock underperform the broader market, up 5%. brian, what are you doing?ock is pretty strong today, up over 4% itself, and look, there's earnings on monday, it comes out after the close and the stocks have a nice move here. but, it's lagged some of its counterparts in terms of payment services, visa, mastercard have outperformed it, american express has outperformed it the last six months or so. i think there's some catching up to do if it can sort of break out of this doldrum here, this trend that's been in this range bound area it can move to the upside. it's looking more and more like a value play itself. i fully expect the earnings growth to be come in at 23, 25% guidance going forward, which is when a stock is trading in the teens on a multiple p/e, that seems relatively cheap on a valuation basis. and so, here i a stock that's already moved, maybe i don't want to jump i and chase the stock, i'll use options to play this to the upside, and when i do that, i'm looking at a call spread it's a vertical, in terms of using two separate months to do that, t

with a network of volunteers to keep narcan and test strips and stock and says he plans to expand fintechcross the country. the cdc also says most recent fentanyl overdose caseseroin. i mean, i'e been in more funerals that i have weddings, and that is a trend that's like happening more time and time again, and it's not these people again that you're expecting it to be its he's post grads that are about to get like a great job, and you know, they go out one night have no idea what is going to happen the next moment, aerial perlman and, um urine in our peer health educators at santa clara university. and they work for the last year to get this free narcan vending machine on campus , not condoning any drug use by having this. it's just a tool to keep students safe and recognizing the realities of a college student's life in 2020, santa clara university student charlie turn and died after unknowingly taking a pain pill laced with fentanyl. since then , the university has taken preventive steps to help save lives. all the campus security people have naloxone. the m t program, which is, uh, in

shery: ceo bill winters speaking to manus cranny the fintech summit.'s stick with the stress in the banking sector and other risk events. jp morgan warning that the worst is not over. what are we hearing? annabelle: when it comes to the direction of u.s. stocks, jp morgan has a note out and it makes for a dire reading. we could have more losses to come because the expectation from investors, jp morgan says we have hit the peak of pressures in the market and that is because recession risk is an event on the horizon. they see equities remaining or weakening for the remainder of the year. we are yet to see the full effects of the fed's tightening policy hitting markets. the factors that have supported growth like corporate margins are going to be starting to wane. take a look at the monthly performance of the s&p 500. you can see we had gains, that is march and april. in may, the direction has been lower. jp morgan saying that is likely to continue because the risks of recession are not priced into the market. there has been a low rotation so far on a his

they can go to different banks, fintechs. ed: we discussed how the digital world allows you to pull money that much more quickly. it is a mobile driven bank run. svb operates as if nothing happened after the fdic stepped in. jp morgan steps in with first republic in their continued operating. but the systemic issues are still there. we don't know why they are not going away. caroline: because interest rates are rising. the federal reserve continues to raise rates in the face of inflation and this robust labor data. we saw some weakness in the roles today. but there is a lot to talk about with executives. we welcome brian chesky and emily chang. take away the conversation. emily: thank you for joining us, lots of new features but the one i want to focus on his room. that's the headline here. it feels like groundhog day because rooms are where you are started. what are you trying to serve with these new features? brian: people want an affordable way to travel. one of the most affordable ways is to stay in a person's house. the

i think we are constantly seeing this narrative whether it's in fintech or health care, whether it's an energy where companies are saying the u.k. has become so complicated and they are not listening to our concerns. forget about being on the front foot they are constantly either on the back foot or not hearing what they are saying. alix: at this point, is it too little, too late. the u.s. has moved leaps and bounds, at this point what can they do? >> i think it's clear we will never be able to compete with the u.s. on subsidies or even the eu on subsidies but there are areas where the government, i think business figures are interested in where you could allow more risk into people's mindsets in the regulatory spear -- sphere. coming from a pension background, he understands he's trying to put together a big pot of money to get invested into infrastructure. guy: the rules make the pensions very cautious. philip: what levers can you pull. you can tell the regulators to be more growth focused which i'm hearing a bit of that going on. on the pension stuff you have to change the legisla

that was driven by healthy gains and also the fintech space. at the end of last year, this is when china started to end the long-standing freeze they had on mobile and tencent profited from that quarter. one of its biggest gaming titles had new highs for gross receipts . these are the positives for tencent in their latest earnings. you mentioned the earnings miss and that was driven partly down to weakness in ad sales which missed forecasts. that was the topic raised on the earnings call. tencent says broadly the sector is in recovery. it did growth online ad business by 17% but as you say, it is uneven. verticals like fast-moving consumer goods, e-commerce is seeing a rebound. wechat with the latest -- pig contributor and that took in half of the ad revenue overall. shery: how is it planning to spur growth in this environment? annabelle: it comes down to a artificial intelligence partially. this was a key topic in the call. tencent says it's planning to expand or integrate the text capabilities across the business units. what's interesting to

equity markets by that, anti-cyclical sectors communication services and fintech and things not tiedonomic cycle outside of the u.s., we think a better place for protection is in asian equity markets. in asia, those markets can benefit from chinese consumers and chinese inflation and dollar which peaked because the fed is done. >> i want to run one more thing. bank of america flow data. one of the key findings of tech funds with $3 billion of inflows in the past week at the same time, $1.3 billion in inflows. which is better? growth or gold >> we're not big fans of gold. we do actually think the tech side of things for a while is crowded. things can remain crowded and get more crowded for a while i'm not saying that tech is the place to be the entire year. for the next month or two is the better play than gold. >> really? do you think growth is back in favor? meta shares doubled year to date. >> yeah. we do. if the fed is done and we have seen peaked u.s. interest rates, that means multiples can expand from here. 2022 is multiples contracted and highly levered or valued firms in the

investment fund processes exploring divestments from the emerging markets fintech company pay you.king with bankamerica to gauge interest in their business outside of india, there could be as much as $10 million in the potential deal. a taiwanese backup prelaw gm -- backed by mercedes-benz, and talks to raise as much is $300 million according to sources. and the finish company behind some of the tracking rings is buying a startup called proxy that makes digital identification tools. ed: loving those private startup and venture stories from around the world. it's welcome the partner with vesna venture partners. $1 billion for ai. but from an existing fund. >> we have lots of flexibility with our existing funds, the message is clear to entrepreneurs, we are committed to ai and investment in ai native founders. caroline: tell us how you sort this. we had many vc come on in saying there was opportunity to write checks but not all of the companies are as strong as the other. how do you understand their doings in the foundational within ai? >> that is fundamental to our job, to be able t

one of the key founders is saying -- innovating and bringing new fintech innovation in using ai within business and we were taking our stock of change from china. they missed out on our growth so i think it does -- the west coast focused on innovating in the space of artificial intelligence and they are seeing startup boom. i think they would be -- emerging markets they want to be backing at the moment. i think this is a story the middle east wants to get into and what is interesting is that these companies are looking for ec money. they want to go to the sovereign might -- nations. i was having conversation on stage about how some of that founder money and mentality is moving from the u.s. to dubai because her regulation -- because the revelation is better. guy: caroline hyde at the qef. this is bloomberg. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh we moved out of the city so our little sophie could appreciate nature. avalarahhh but then he got us t-mobile home internet. i was just trying to

caroline: we count you down to the fed rate decision and a look at the fintech

. >> you have a fintech.ive us a sense, how are you trying to disrupt the traditional financial system >> yeah. what separates solo from everything else in the market is largely that it's completely powered by the people, which means borrowers actually have the ability to create their loan terms and they can post it anywhere they want it means they can decide when to pay it back and how much they can fund the loan directly so it's completely community financed in the real sense of what community banking should be. >> peer to peer. >> exactly no institutional capital all peer to peer. >> we have elevated inflation. a lot of people are calling for a possible recession how would your app come o into play if we do see an economic slowdown >> yeah, i think it's twofold. one, getting access to capital is incredibly important especially in this macro environmental. overall inflation, cost of living, increases are unable to absorb financial shock and they're looking for access to dollar loans on the flip side you hav

at 4:45, comments at the paris fintech summit.n at 6:00 p.m., the federal reserve of richmond president will speak on monetary policy at an online event. we are all focused on the central bank narrative. to the u.k., new figures show prices in shops are continuing to rise at a record pace. what is the prime minister going to do about that? lizzy, how bad were the figures and what does it say? lizzy: the data show shop price inflation's of the highest level since 2005. 9%. the good news, food inflation ticks down slightly but that is 15% and in the official data it is 19%. a third of that according to the london school of economics comes down to brexit. in the most recent official data, core inflation was expected to hold steady but it rose. that speaks to the stickiness of this price growth problem in the u.k. that's why we've had a raft of policymakers saying rates need to go above 6%. that sends off alarm bells because only in july we had the deputy bank of england governor saying 5% is the level where you have the risk of that

. —— fintech.f the marketplace, but the issue would be the silicon valley bank will decrease the amount of new start—up that would use services from paypal�*s drain —— braintree, etc, and also possible more adoption on the consumer side, so again, the industry is growing at a healthy pace, the transaction payment volume for paypal is lower, the net revenue is even lower, the net revenue is even lower than that and that is the problem with most of the players in the space. interesting, thank you. let's have a quick look at how this is playing out on the markets and how the asian markets are faring today. you're waiting for some earnings reports to come out. japan was 1%, yesterday down a similar amount. what i want you to note is the price of oil edging down by a third of a percent again today. wall street, that in speaking to justin, market there are pretty flat. not too worried. it isn't crazy volatile, knee—jerk reaction going on in markets with regard to the concern about the debt ceiling in the

at 4:00 p.m., a speech at the paris fintech forum. at 6:00 p.m.federal reserve president of richmond will speak on monetary policy at an online event. many in emerging markets are falling into a climate debt trap , as unpredictable weather coincides with surging borrowing costs. cyclones have battered southeast africa, the horn of africa has been hit with the worst drought in four decades and record temperatures are being recorded. for more on all of this, is bring in bloomberg's senior africa reporter in johannesburg. thank you for joining us. how are rising rates actually disproportionately hitting the most vulnerable countries? >> thanks for that. the poorest countries in the world are generally hit hardest by climate change, that is southeast asia, and parts of latin america. they are having to deal with natural disasters, droughts, floods, rising seas and at the same time borrow more money but that is difficult when you have a large debt load and are struggling to pay that back. the countries that have not caused climate change in terms of ad

fact your own portfolio is fascinating, discord in many ways ai-driven but one of the companies of fintechas already used chatgpt plug-in and open ai plug-in. how are you thinking about the ethical way in which these companies adopt and let this generative ai run their own proprietary data. >> so overall, we are thinking about generative ai as a tool for good but what it is showing to me is that companies are learning so much more about the consumer base and allowing their consumers to spend time showing trends in a much more vulnerable way, which we find fascinating. the way it is engaging with customers and away they are gathering data to prove there are ways to use and harness the data to really provide better products and services to consumers from a lemming perspective and spend perspective. it seems consumers are engaging with the ai that is so much more real and authentic that it ever has been. ed: if financial conditions are getting tighter and it is hard out there for founders, our venture capitalists input into making ai-related investments that in any other environment they woul

it's worth noting three other companies also leveraged ai in key ways number two is fintech company brekscan ba, number three struck a deal to bring chatgpt tools to its consumers and relatively ai brings ai to its rockets. >> there you go. openai was the number one disrupter. obviously it with us going to be openai another one data brics, they're number 31, and the firm's ceo told cnbc it will have a profound impact on a number of industries. >> right now there's a lot on the language models but actually ai itself is a broad field and there's lots of lots of great things you can do with it. you can use it for real time situ situation. all the rhett is being used for real time, financial analysis, for risk and so on right now there's a little bit of extra hype on the language model but i think as a whole this is waking the world up and everyone realizes how impactful ai is going to bchlt it's going to have impact in every industry in every organization on the planet and it's now. i don't think it's going to take five or ten years. it's happening faster than we have ever seen. >> that was

we'll track it rise and trade one fintech firm that could be next to join the club.u can guess what it is, tweet us and we'll reveal it after the break ♪♪ ♪ a bunch of dead guys made up work, way back when. ♪ ♪ it's our turn now we'll make it up again. ♪ ♪ we'll build freelance teams with more agility. ♪ ♪ the old way of working is deader than me. ♪ ♪ we'll scale up, and we'll scale down ♪ ♪ before you're six feet underground. ♪ ♪ yes, this is how, this is how we work now. ♪ >>> welcome back to "power lunch. nvidia stock hitting an all-time high today, and was briefly part of the exclusive $1 trillion market cap club, and this is because its ceo jensen wong's keynote over the weekend outlined a slew of new products like an ai supercomputer, a partnership with one of the largest advertising agencies in the world, and a combo cpu or central processing unit with the graphics which is in full production right now the bottom line, nvidia wants fs investors to know it's working on increasing revenue from adje adjacent to that it's the index as well as the stocks and it has

the gamut from shopping space to fundamentals and where to find value in earnings exchange and the fintechder out of weaker banks and sofi just beat on revenue and guidance and shares made a turn mid-morning and are now down 9%. will they sell the news or is there more to it anthony noto just ahead. do we call these session highs >> they're just about there, kelly. i'm going to tell you right now, for the s&p 500 which is the broader measure. we're talking 17 points on the upside that was the high of the session so far, tilting toward here. we were down about three points or so at the lows of the session. so if you look at it on balance it is generally positive up one-third of 1% and it is a similar percentage move. 34,218 and 4200 for the s&p 500 level and the nasdaq composite index up .25% and 12,253 the last trade there one of the bright spots in that technology trade today has been on semiconductor this is a computer chip company that does a lot of work with automotive and applications and electronic vehicles and that sort of thing. up 7.5% toward the best levels of the day right now b

arguably have ever had to offer, is one, and then, two, competing against the whole world whether it's a fintech-- >> this is a great question. >> or a morgan chase what's the reason that regional banks ever do well again in a new world where there's this new polarity it's these apps that have no cost of capital, it's equity capital and then the five or six gigantic banks -- >> i think you've made the point. can i respond? >> what do you do if you're the 3,000 other banks? >> it's an excellent point >> i have a question for you, too, but go ahead. >> if there were the conversation of, gee, how are we going to deal with lowered earnings, that's not the conversation that's basically being had about the space right now. the conversation that's being had about the space is who is next to be taken out by the fdic and this is the discussion -- i like having this discussion with you, because that's a rational point you pointed out there. what i'm saying is that damage is already in there. we're having existential discussions, not what the level of earnings will be. >> these stocks could be five times e

are the ones that have suffered as well the ipo class of 2021, and some of the high-flying names in fintechnd those gains have not been sustainable and that's what scared off a lot of tech companies from going public. if we see that revived, i think in a big way that could relive that ipo mark and open the window for us. >> yeah, interesting to see what conditions they are looking for in timing of all this. we will talk more about that in the micong days. thank you. >>> we will have one more nod from milken after the break. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back. a lot of talk about the story of the day, jpmorgan buying the deal >> at the end of the day all participants in the u.s. banking system got a good deal because putting this chapter behind us and m

with a network of volunteers to keep narcan and test strips in stock and says he plans to expand fintech across the country. the cdc also says most recent fentanyl overdose cases happened when it's mixed with other drugs like cocaine and heroin. i mean, i've been in more funerals that i have weddings, and that is a trend that's like happening more time and time again, and it's not these people again that you're expecting it to be its he's post grads that are about to get like a great job and you know, they go out one night have no idea what is going to happen. the next moment aerial perlman and, um, you're in our peer health educators at santa clara university, and they work for the last year to get this free narcan vending machine on campus is located near the student dining hall in a discreet location so anyone can get narcan without shame if they need it. we're not condoning any drug use by having this. it's just a tool to keep students safe and recognizing the realities of a college student's life in 2020, santa clara university student charlie turn and died after unknowingly taking

what is interesting about this year's list is a decline in fintech companies which is no surprise >>stripe is 28 s that -- >> it was number one a couple years ago. we have stripe and an one that does emerging loans. we are seeing more health tech companies and more importantly, it is interesting to see the number of companies in the green t tech or green energy green tech and green energy. a lot of these companies, whether in health tech or logistics or green energy, they are deploying a.i. that is fascinating. 21 of the companies told us half of the ref venue is directly related to a.i. >> my favorite company on here aura ring. >> any poor disruptors been totally disrupted? >> yes some ended up imploding. it is funny. you look at the companies. one was a satellite tv company that was the idea of anyone could access tv any point on their computer that business which was backed by barry diller, put out of business by a lawsuit. >> julia, great to see you thank you. we will see more of you throughout the day congratulations on the big disruptor 50 list. >> thank you >>> coming up, an i

orphin fintech. >> alan is dead-right. tech has bottomed. we love tech. we think they have done the hard work and been blasted. they laid off the people, we think we could be seeing a slingshot in tech and since tech is 25% of the s&p 500 it's going to drag that up too. liz: how do you play tech dutch? >> we are long tecl and tqqq right now. liz: i'm imagining that's one of those direct type of things where you get the triple or double the move every time if you're long? >> yeah, well you know, carnivore never goes half way, right? liz: [laughter] i know. that's why you're a meat eater right? alan? we got the ppi. >> right. liz: this is inflation at the manufacturing level. it was very tame. it was either a match or slower than expected. that is all good news, is it not >> and yes, and i'm not a thinker. i'm a trader. i trade what i see okay? and what do you see? you see the markets telling us that we're done with the rate hike cycle and it's not what the market did necessarily. it's what it didn't do. we had rates grow from 0-5% and the market is still w

you can see a lot of these concerns are evolving around the regional banks and business models in fintechwith sofi shares on the bearish call today. let's get to tyler matheson for a cnbc news update. >>> here, folks, is your cnbc news update at this hour the united nations has a toll on the russian invasion of ukraine and the u.n. confirming more than 8800 civilian deaths since february 2022 and cautioning the true toll could be even higher this comes as president volodymyr zelenskyy is in europe to shore up support from allies ahead of a planned counter offensive in the east of ukraine. heavy rains over the weekend posing a threat to the migrants crossing the u.s. southern border after the lifting of so-called title 42, officials from the national weather service said the deluge is expected to swell the rio grande river and make crossing even more dangerous amid the expected migrant influx, dhs officials have expanded the cbp1 app to allow up to a thousand people to make appointments to apply for legal asylum and more severe weather expected in the pacific northwest a weekend heat wave

we have some of the best financial services fintech live sciences of anywhere in the world because of the diversity of talent because we have people coming in from all over the world that and i think we should be talking about this and celebrate is i, i was talking to a friend earlier today from luxembourg to last sunday, where 50 percent of the population comes outside of the bag. they have a street party to celebrate all the people who come from outside. so i think to my mind there's a very important narrative here which recognizes and appreciates the people who come here to work and to contribute including unimportant play students who represent a big part of these numbers. as you mentioned, they also represent very significant positive contribution to you get economy of over 25000000000 pounds for year and the nameless to have for the top 10 universities in the world. and having the most size it at research papers per head of population. anywhere in the world we one percent of the world's population and we 14 percent of all the great publications sides of from academia. that's a r

the fintech business was encouraging.m in online advertising. haidi: will tencent earnings become an inflection point when it comes to tech stocks or hong kong stocks when it comes to better performance? we have seen downside for four months. >> tencent's results are encouraging. we have seen hong kong markets, total turnover has been weak.. the shares did not rise after earnings and hong kong, even though they rose in the u.s. overnight. tencent earnings is encouraging for the market to revive sentiment, and ease peoples worries about sales growth momentum. shery: plenty more to come on daybreak, this is bloomberg. ♪ ♪ (upbeat music) ♪ ( ♪♪ ) woah. ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. shery: take a look at the the nikkei, close to the 23 here high. -- 23 year high. above that, we could reach new heights, the topics at the -- the topix at highest level since 1990's. the outlook for ja

with a network of volunteers to keep narcan and test strips in stock and says he plans to expand fintech across the country. the cdc also says most recent fentanyl overdose cases happened when it's mixed with other drugs like cocaine and heroin. i mean, i've been in more funerals that i have weddings, and that is a trend that's like happening more time and time again, and it's not these people again that you're expecting it to be its he's post grads that are about to get like a great job, and you know, they go out one night have no idea what is going to happen the next moment, aerial perlman and, um urine in our peer health educators at santa clara university. and they work for the last year to get this free narcan vending machine on campus , not condoning any drug use by having this. it's just a tool to keep students safe and recognizing the realities of a college student's life in 2020, santa clara university student charlie turn and died after unknowingly taking a pain pill laced with fentanyl. since then , the university has taken preventive steps to help save lives. all the campus s

contributors across the spectrum of consumer lending, including credit card, auto, mortgage retail and fintech. we have stringent requirements and monitoring programs in place to ensure that our furnishers are submitting accurate information to us. an important component of accuracy is the consumer's right to review their own credit report and correct adverse. with millions of free reports and scores in the ecosystem monthly, consumers have easy and free access to their report information, including through annual credit report.com, which provides free weekly reports. consumers, experience as a free, online to speak portal. including a mobile optimized website. now, consumers can also easily reach us by telephone or mail mister chairman, study suggests that is many as 15 million american adults are unable to access their and affordable credits. either because they have very than credit files or because they are completely credit invisible. we also understand many consumers, particularly minorities, and lower income individuals, are often underrepresented in the credit reporting system. this is

the ceo spoke to us exclusively at the dubai fintech summit. >> therefore even as we speak, we are -- i think there's an opportunity to scale up. haidi: shares of airbnb dropped sharply as guidance suggested weaker travel demand. airbnb said second-quarter revenue could grow 16% to $2.45 billion which would mark slowest growth on record. the global travel rushes losing steam as consumers rein in travel budgets due to high inflation. nintendo warning of a big slowdown in sales. expects to sell 15 million units this year, down from 18 million last year. below the average analyst estimates. the company president said even a 15 million units target is a bit of a stretch for nintendo's six-year-old flagship product. shery: that is one of the stocks we will be watching when trading starts in korea. nintendo, given that big slowdown in consul sales. also, its competitor bond i to report earnings later on with other big names including kobayashi pharmaceutical. -- planning to raise its ev output in japan to three under thousand year by 2030. we will be watching that. including its peers toyot

bp fintech which will be reporting earnings later on monday, also getting reaction for companies likech reported on friday after the markets closed. also jf power and steel. yvonne: we also have dehlivery. we saw some updates and you see the likes of adani enterprises that is up this morning, so we will continue to watch most, if not all, that are up. adani transmission up some 5%. we have plenty more ahead. this is bloomberg. ♪ yvonne: a quick check of the latest business flash headlines. australia has moved to regulate by now, pay later firms with new credit laws. this would tighten requirements under industry and firms would need to adhere to responsible lending obligations and hold australia credit licenses. spacex has launched a four-person manned crew the international space station. it's falcon nine rocket lifted off from kennedy space center in florida on sunday. the mission was operated by axios space and marks the second of four human space flight launches that spacex is handling for the company. new zealand and a local unit of australia's bluescope steel are spending $188 m

the bank of america data, but do we understand how people are borrowing now because of all of these fintech-y we all have faith in a slow down. it is not just economists that have that faith now. this came from governor jefferson going into the weekend, a presumed future fisa chair. this core inflation is taking place at a slower pace than expected, but it is still likely ahead of us. they are starting to get comfy with this idea that it is still on the horizon. lisa a.: granular data shows a slowing. it is happening really slowly. if it happens really slowly and companies are going to jack prices up, will we have people use to inflation? are people readjusting to this being the new normal? that is a huge problem for the federal reserve. that is a risk and spoken. -- an unspoken risk. tom: i am looking at the tv screen. 4.154 -- round that up, that is 4.200! phil caray, he founded pioneer company. phil caray said nominal gdp and the inflation overlay it brings are bright lights, which make everyone look good, everyone feel good. the nominal gdp is coming down, but what is it coming down to? l

fintech, non-bank mortgage companies, you will start seeing more stress in those committees. tom: there is a bank out there called the bailey building and land. it is something you and i studied carefully. they didn't have cell phones. jonathon: don't age betsy. you're talking about yourself. tom: yes, i am talking about myself. the basic idea here is they did not have cell phones in their hand. how does the behavior of the bank of tidewater of 2023 change , given digital media? you do not have to live with that. betsy: the panic is still the same thing. if you go back to the savings-and-loan crisis, before one of those institutions closed, it was pretty well telegraphed that that that was an institution in trouble. we took over some branches and it was remarkable to me that some of the uninsured deposits had stayed, even though it was pretty obvious for years that the institution was in trouble. the smaller banks, the deposits are pretty sticky. what happen as the fed expanded its balance sheet, overall bank deposits grew normal -- grew enormous lee. they were trying to bala