intel is, of course, an american company. chip making back home seen as a national security issue and counter the current dominance in samsung. now, to be clear, all we got from nvidia and huang was a small vote in confidence "the journal" reported they explored intel as a manufacturer but then backed off. nvidia, though, is america's most valuable semicompany. we were talking about it day after day, the latest entry in the club its business may ultimately matter more and it may pave the way for other companies that are also in need of chip supply chain diversification bringing that manufacturing back to america which intel wants to do. also helping shares today, carl mentioned this, comments from the cfo saying he expects revenue to come in at the higher end of their outlook and talked up ai on the product and foundry sides. intel is the top performer on the dow up 1.3%. gelsinger has had a very tough slog trying to turn around that once mighty company. this partnership would be significant, that vote of confidence is maybe

let's go to kevin kelly with more >> hi, melissa today, we saw a lot of option trading volume in intelth about four times the amount of calls traded versus puts. and what was pretty telling is a lot of the action today was in the front month, june at the money calls, the 32 strike, and they're priced around 97 cents right now, but we saw over 15,000 contracts trade, and the open interest is around 5,000, so, there's obviously going to be sentiments follow through to the upside, given today's action >> kevin, thank you. kevin kelly. for more options action, tune into the full show friday, 5:30 eastern time >>> coming up, the chart master says it's time to put the pedal at the metal on tesla. wh he's seeing in the charts coming up next on "fast money. this is the all new, all electric lucid air. a car that goes as far as it does fast. as sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ >>> welcome back to "fast money. shares of tesla coming off a strong month now up 65% in 2023 and the chart master sees a buying opportunity in

they had no credible evidence no verified intel and in fact they had the opposite. they had a plethora of evidence that it was all a lie. the bureau actually fired christopher steele as and informant for lying. he should have been criminally charged but it will never happen. >> what a sad story. what a sad chapter. we will talk to mark levin. he says we are in a post-constitutional america. john solomon you have breaking news how the irs whistleblower and his entire team everybody removed by the doj in the criminal investigation of hunter biden's taxes. what's going on there? >> yes, sir. his lawyers, former doj lawyer mark lie they will and whistleblower sent a letter to congress saying this looks like retaliation and obstruction of congress. this guy is removed from the case. why is that important? they had institutional knowledge of the potential crimes. now they're off the case at the most critical juncture when prosecutors trying to decide to charge hunter biden that is a major bug in the case but major concerns about retaliation and reprisal. >> the media mob

. >> we're talking about tech and chips and intel. why are you laughing i'm giving you good news for a change >> i appreciate it >> they see revenues what do we do with intel here >> if you have a lot of patience and don't mind holding on, here is what we know about chips. we need them all it's like energy we need wind, solar, nuclear, fossil fuels the same with chips, we need amd, broadcom, nvidia, we need everything they've got >> hasn't the debate been, not so literal, but do we need intel? >> intel was left behind but they produced an incredible amount of revenues the only chips that we use are not just ai -- i'm sorry, not just nvidia's ai chips we probably have them in whatever the we're using here. interesting, too, because yesterday morning jensen huang praised intel and said we've received the chips >> he said they looked good. open to a partnership with intel. >> they make something that's necessary to our everyday life you shouldn't dismiss it but also shouldn't expect it will be a swing for the fences >> the other thing --

stacy, amd, and somehow all roads lead back to intel with you because intel's on your mind as we're thinking could argue from a market standpoint, intel's results may be somewhat supported. the results were not good. they were objectively horrible, but better than expected on both pce and data center. they thought the channel which has undergone the inventory flush, ought to be normalized and those things were somewhat supportive of the markets. that being said, i do think intel's print made the setup just a little bit tougher and particular data center because intel's results while they were bad, again, were better than expected they actually beat fairly handily, the reporter, and so amd does not show a kind of similar data center, and they got the data center down pretty significantly. if they don't show a similar amount of gain, you can start to pull a little bit into the share gain i think the setup is slightly harder, but the market commentary may be supportive >> when are you ready to declare that pcs have bottomed >> well, they may have, right? again, it's not just -- for these guys,

here is a global intel in the first quarter received an already record net excess.is almost two and eight billion dollars. against this background, the loss of business in russia may well become the very trigger for this topic. we'll be back while we talk about the global russia, the european union and ukraine have become the object of attention of forbes economists, the main conclusion. russia has turned out to be much more resilient than anyone could have expected building analysts cited an estimate economic growth from the imf gdp of our country. this year should grow by 7 tens of percent germany britain will decline by 0.3% ukrainian gdp will go negative by as much as 3% the stability of the russian economy is associated with the fact that key emerging markets in china india brazil largely ignore us and eu sanctions forbes also drew attention to italy, which concluded a major energy deal with libya. this is the very example of an independent policy that all of europe should pursue against this background, there is a gradual abandonment of the dollar. attention,

i'm not knocking intel i am kind of knocking intel.s the nvidia effect doesn't seem to be rolling through. >> no, and this is not one of those effects that every semiconductor will do well the market cap growth just overnight is greater than the whole market cap of intel, of amd. so, you really have to be careful here because i think sometimes investors get a little too excited as to what is the total addressable market ai is great. we're in the first and second innings, you have to be careful there. and i know, you know, a lot of people say, hey, how could you be so wrong on this, it is part of a diversified portfolio >> looking down here too as well, i'll be directionally correct, don't quote me on the accu accuracy, nvidia is gaining 2x the entire market cap of intel nvidia is gaining like 250 billion in market value. intel's market value is 120 billion. you just wonder, is nvidia -- the new king, you were trimming the stock, is there any unloved stock that you see as a quiet ai play because nobody else apparently is getting any lov

i intel's dropped. only expected to widen again and contributing to intel's stock reaction post the nvidia earnings we saw on the earnings call, ceo admitted competition is fierce he didn't name names the closest competitor, amd, seeing shares rise 8%. it is launches an a.i. related chip this year there are other a.i. plays as well meta announced the a.i. training model. broadcomm with the chips with google the arista networks as well. nvidia results stood out overcomeo over competitors biggest bottom line beat in years. frank. >> you mentioned the gain of market cap intel only $120 billion market cap to spell out how big the move kristina, you mentioned how many times a.i. was mentioned in the call nvidia is anticipating a surge of data center demand. what about the supply side could we see another covid shortage >> reporter: to the a.i. question, i stopped counting after 13 minutes within 13 minutes, a.i. was mentioned over 32 times. that was only from the cfo that'ses that bucket to your second point

security and intel officials that went along. this was their in-kind donation to help joe hurt donald trump in the process and lie to you, the american people, in the lead-up to an election. nobody checked out that laptop. now, wait a second here. don't those people care so much about free and fair elections? don't we get that lecture a lot? that's what they say on fake news cnn, right? they claim to be so worried about disinformation, misinformation. remember in the lead-up to the 2020 election, these people including current and former government bureaucrats and officials, they work on behalf of the biden campaign to willfully spread disinformation about hunter biden's laptop to you, the american people. you have the media mob, big tech, the fbi, all these 51 people, all in an effort to shape the election and, make no mistake, they don't regret it one bit. anyway, here now with more, and he has breaking news tonight is editor and chief of just the news.com, investigative reporter john solomon. sir, how are you? >> good to be wi

biggest loser is nike followed by 3m, chevron, intel.hs, a loser, we will have more on that. at the top of the list here, the s&p 500 is under the 42 level, it's down 19 points, 4185. the nasdaq has been all the enthusiasm, all the action lately particularly this month trading down 54 points, 12,000 969. pull up the big tech names when you look at a stock like meta, it's doubled in price this year, it's at 260 right now, down .7%. apple at $177 a share, up 50%. microsoft also higher at 331. goldman sachs again, this is weighing on the dow. susan lee coming in to the program, good morning to you. are they planning another round? >> a big way on the dow right now, only down six tenths of 1% but you could be looking at a third round of job hits, only if you're 250 jobs that could be coming in the weeks ahead. staff might be affected like directors and partners, 250 would likely take golden job cuts, still below 4000, dealmaking dried up so it makes sense, everybody in i thinking cutting jobs and morgan stanley that has cut three jobs and ja

and then you have the intel community saying something very, very different. and i, i tend to agree with colleen. i think some people, the intel community of our want to do is to actually show that there is some kind of defense within the intel community as opposed to the political class your thoughts while ex well, i mean we've seen this in the past strategic leaks. so there's really happened at a certain time for, for a certain reason. this could be all timing. uh, you know, we, we know the situation on the ground and back both and beyond. we know the situation is not exactly what the western media is making it out to be. so why not put a little shining star in the corner? look over this way. we have a leak for you to, you know, pay attention to instead of what's actually happening on the ground. so there's also other reasons, obviously for there to be a distraction. i mean, the situation in western europe in the you, itself is not the best the, the economy is suffering because of, of this war, you know, has a, a huge part to do with what's going on. and the

goes up or down i mean, their data center -- >> flat right now. >> exactly it just shows that intel is still behind the eight ball here in terms of data center and everyone else is winning you can make a compelling case on valuation for intel i'm interested to see what it does to the broader market tomorrow, obviously. i'm sure nasdaq futures are going to be significantly higher the s&p under pressure today this flies in the face of all the other things we'll talk about on tonight's show, but for the day, at least, this is an incredible report. >> what does this tell us about market mentality it's day two of markets being under pressure because of the debt ceiling talks the volatility index 20 and above, finally, finally going higher. and yet, we have -- whatever touches a.i. going higher, as well, tim. and we've talked about this a.i. potential bubble forming in the market is this case in point of it? >> well, again, you are breaking out to a new high, a fresh new high in a stock, and so, this is maybe rleading the entire marke to maybe start to make that challenge. and if you thin

in 2020, 51 former cia agents and intel officials working with the biden campaign to do the same thing. we've seen it twice now. one issue the fbi. second, former intel officials, same objection to go after president trump to keep him from being president. the conduct that special counsel examined was the reason that current leadership implemented dozens of corrective actions that have been in place for sometime. the missteps identify could have been prevented. durham's report did not call for changes to guidelines and policies. >> todd: thank you. here is jonathan turley. >> jonathan: it is damming, this report suggests we were all played as chumps. there wasn't a basis to go forward with the investigation. the salacious detailed repeated, turn out didn't occur, including the hotel scene with the prostitutes. it goes into great detail temperature is classic durham, everything the russia investigation was not. it is methodical, no hyperbole, he shows how false accounts were created often in coordination with the clinton campaign. >> todd: bring in washington examiner deputy editor kayl

intel is trying to enter the game more. amd. they have the capability to. i think we need to consider that over the long run, there is going to be significant competition and i think one's valuation structure might adjust over time, you must employ consistent discipline otherwise you find yourself chasing things at the top and selling them at the wrong places at the bottom >> i bring up, jimmy, what i read from someone that i follow and many people do in the finance twitter world mark dow who said waiting for the, quote, unquote, right valuations leaves people behind at the bottom of every cycle and the market never gives them the valuations they need to get back in. i've seen it time and time again. valuation is where supply meets demand it's not a number preordained by history. >> you'll remember, scott, and i said -- any of these names, it's nvidia, marvell, qualcomm, where the action is. >> it's easy just to specify nvidia, you understand why, right? >> fair. >> 55 times forward earnings right? i don't think so i think you'll see earnings continue to go

in other words, it was despicable that 51 former intel officials lied to you, the american people on a document, all to help joe biden and hurt donald trump and the 2020 presidential election. but for active members of the cia to participate, also in this scheme, that makes it beyond the pale and remember, the fbi was also meeting weekly. you were call with big tech warning them every week that they may be victims of a foreign disinformation campaign and it may be about joe biden or hunter biden. so how do we hold the bad actors accountable? how do we prevent democrats from the deep state from ever doing this again? how do we stop them in 2024? this is two presidential elections now in a row. here with the very latest, house judiciary committee chairman jim jordan is with us. all right. it is beyond extraordinary. we have talked about the fbi and meeting with big tech. we got to do a timeline here. the fbi had hunter's laptop in december of 2019. john solomon reports they verified it in the spring of 2020. why was the fbi then, we know the case in missouri. the twitter integrity site

the nasdaq composite, big tech names on the most active list, no but intel is on the list. >> intel'sare there games i guess. stuart: marriott, good report with bookings and they are up $4 a share. coming up, even the left is concerned about the president as an president biden's age. roll it. >> we know biden's real opponent is ravages of time. [laughter] if he wins a second term, he will be 86 years old when he leaves office in that way to -- old. [laughter] stuart: surprised to hear that things something like that. maybe biden is losing the late-night guys. we will see. public to paper calling for medical students to be taught in racially segregated groups. we are going backwards? doctor ben carson takes out on. look at this, this prairie chicken is biden's latest weapon in his work on fossil fuel. the fed may make the chicken a protected disease. attorney general doesn't like it, he doesn't approve. attorney general is next. ♪ the markets this morning, early going, not much moving. staff down to come up nasdaq of 32. the great decision comes a little later. lawmakers pushing back o

the biden campaign and former us security and intel officials that went along this was there in kind donation to help joe heard donald trump in the process and lied to you. the american people in the lead up to an election. well, let's get the details now small as he's new york correspondent tatum opened quite a bit to see you. so what else do we know about the contents of this email exchange between the former c i cheese? well, it's the former c i a director, mike morel, you goes back to the obama era and in the email, he admits that this letter that was signed by a number of members of the us intelligence apparatus was done as a political move to a divided into 2020 elections. now, he also goes on to admit that another obama era, c. i a boss, john brennan also knew it was a political maneuver. here's what's in the latter. it's john, can i add you name to this list? we'll be adding leone to gordon. j johnson, george. listen, monica, and mike rogers today. and working on the ad in done codes, mike rogers and tom, both search and lots of other. i see korea fault trying to give the cam

haidi: intel is another name missing the retail -- ai rally.le: this chart looks at the big moves we had in the philadelphia semiconductor index on thursday. that was in spite of 7%. this is what came in for the intel stock. that one slumped around 5.5% at last close. you can see at the bottom of the screen. whats driving these moves is concerns that there are a lot of budgetary changes coming for intel and also companies and how they are putting their money into this new technology that is prompting this budget shifts -- these budget shifts. the main thing is from -- they say -- from wedbush, they say the results are mixed. it comes down to the core advantages. given nvidia controls about 80% of the market for chips, it seems that intel has catching up to do. haidi: annabelle with a look at some of these ai related stocks. we've seen such a big boost. speaking of rallies, turning to casinos, an operator in las vegas sands opened a new operator in china, called the londoneer macau. stephen engle caught up with the ceo. and a special guest. i wa

alex: ask intel.intel office the world's biggest chipmaker -- knocked intel off as the world's biggest chipmaker. now nvidia is about eight times bigger than intel by market capitalization. innovation cycles, three to five years, it is not some the you can turn on a dime. nvidia was coming after intel for quite some time and intel does not compete in the same space. the bigger question is whether, even if someone can catch up with nvidia, can they get the manufacturing capacity from tsmc? nvidia says we need this many wafers this year. tsmc, please do that for us. if you're a smaller player, does tsmc have the space for you? the answer maybe yes, particularly at the bleeding edge of the stuff. we have intel coming in as a foundry. they make semiconductors for other people. maybe this capacity is getting there. right now it looks like nvidia has a lock on it. jonathan: this comes down to capacity of taiwan semi? alex: it looks like that in the near term. the thing we saw is there is one company in the

that's what bothers me about this is the complete lack of common sense among these intel officials.ter biden, there were photos in the original report, you know, the cigarette -- >> greg: yeah. yeah. yeah. yeah. yeah. >> all right. hunter biden a crack-huffing, corrupt, oily, reprobate who had to get a brand-new set of teeth for his daddy to run for president so he looked slightly less repellent and you're going to vouch in this letter and say it's not hunter biden's laptop? you know that's going to blow up in your face like referring your nephew for a job at your employer you know that 68th is going to smack the hr lady on the ass and call her sugar cushions and you're going to get fired. it's the same thing. [applause] >> greg: sugar cushions was my nickname in high school. >> it still is behind your back. >> greg: yes. that's -- i meant 10 years ago. how are you? >> what's up, sugar cushions? >> greg: still selling real estate at the side? >> >> the media was salivating over smoking guns on trump. that and they never found one, right? and now here is a smoking gun, this letter, b

these cards are gold and no one else has them intel doesn't.ve a monopoly you get lina khan. it's a natural monopoly. it's like rockefeller. >> the conversation is broadening with huang's comments about intel and whether or not you can have intel compete with tsm to some degree >> could be. i mean, intel makes cpus remember, in the old configuration, 95%, the datacenter was cpu and 5% was gpu. and now it's flipped so, intel really doesn't need so much foundry space they're only 5% in the new world. >> yeah, although they're going to be building a lot more of them >> why, because of gina raimundo chip act i proposed to jensen when i spoke to him last week, i need uses he said, stay tuned. and then, he has 12 different uses that are gigantic >> you're talking about the wpp examples and everything else >> yes do you know that today there's a recommendation of fiber, which is the largest call center, saying that the call centers are going to benefit i thought -- >> they're going to replace everybody with a.i >> no, but no. it said it's going to be,

web for their h-100s, it says you can use some intel product.ou can use some amd products. they're not necessarily hurt they're just not as relevant it's just not as important >> right >> i mean, is this the -- the rest in peace for all the others no it's just that they're not going to be at the level, i mean, and you'll need other chips than in, but to do what the world is going to want and write apps, they want you to write apps, and everyone wants to write apps for them, you need their configuration. >> we showed the table of price target hikes today i counted 21 rosenblatt's at the top. jpm goes from 250 to 500 do those make you nervous? >> no. no i mean, i think that those are people who kept thinking that there was too big a run, too big a run, and didn't realize that there was both accelerated computing that he was winning on and he's winning on generative, and then next week, he's got a speech in taiwan, computex, where they're telling me, look out. all new uses that you hadn't even thought about so i think this is one where i was going

fifty one former intel list.int >> yeah, is that is that is that an appearance problem? >>s it is .f a bigger and it's part of a bigger problem. bigger problem. i knhere pro are some decent pee i know some of the people who signed that letter, decent people who think that trump is th different, that anything involvinerent.g trump justifiesy distortion of ethical rules. constitutionjustifies or rulesl rules. the goal is get trump , makee he sure he is not electeds not president again. tedwhatever it takes to do that, they will do. and soo that we see distortionsf every aspect. cia rules, criminal justice rules, justice department rules, in the in the casein thp today, a judge allowing jurors to remain anonymous, even from the jurors, even fromro the defense attorneym the s. ey, that's just unheard of. the rules simply change whens id donald trump's involved. and that's what concerns me. this is an easy case to win on appeal. inconsistent verdicts, statutesd of limitations, anonymous jurors. and if it was anybody exceptlimn donald trump , it would be aslak slam dunk revers

a house republican report claims that the cia pushed him and other former intel community members to sign on to that letter and then they fast trapped it to give then candidate joe biden political cover in 2020. brennan is one of just several former intel officials including former director of national intelligence james clapper, who has been argued live before congress previously, will now be testifying on capitol hill about their role in the laptop story. >> why do you need a talk point if the laptop is not real? >> we know the cia was involved in reviewing it before it was put out. that's what the evidence suggests so i think as more and more of these fat come out the american people will be very alarmed about how politicized really our intelligence agencies were during that time period. >> the argument, again, weaponization of our own government against our own president. democrats argue, many of those who signed on to the letter were, in fact, former intel operatives and therefore had a first amendment right to weigh in. but republicans counter. arguing that public servants, par

intel officials. what are they going to be held accountable? isn't putting cinder blocks on the scale of our elections in this countr sindzy? of they're never going to b e held accountable because the only tentity that can prosecute thea is the one that's working on this and participating ing it. and they are interferingint and with the 2024 election today. with the special counsel in s washington, dc, with these phony criminalpe investigations they're interfering with the election again today. the president biden, it's his fbi. it's his attorney general. it's his ideas. they're interfering with the election, the third election in a row. there's no question about it.e all right. noro great one , mark levin. don't forget life, libertyy lovin every sunday right here on fox. coming up next, biden's sundayinfo since has gone from bad to worse. but that didn't stopgo joe fronm laughing about this weekend.as our very own bill meluzin, he has the latest. also lat, the impacts of the crd are far-reaching and by the way ,well beyond border states . we'l

this was not just intel.sn't just media, we had big tech involved, this was highly coordinated act to suppress this information. very important information. this is more than just someone trying to get rich. we have seen corruption before, this is third world level, like you see in latin america. this is greater than this, this involved china and russia, this involved ukraine. >> brian: and romania, moscow mayor. >> brian: this is america's enemy and with joe biden elected, that means he is compromised and policy would be affected. here is john solomontauking about this letter signed by so-called intelligence officials. >> cia director club is exclusive small club. people this country trusted to run the intelligence, derived credibility for the american people for the trust we place in them. we, the american taxpayer, gave them the opportunity to run the most powerful spy agency in the world and took the credentials and this letter shows the two cia directors created a political outcome and portray it as orga

once the fbi the other the former intel officials.resident trump and keep him from being president. >> there needs to be prosecutions there needs to be accountability. and the fbi has got to be overhauled now top to bottom. it's got to be completely reformed. it cannot go on like it is. >> a fox news alert. house lawmakers calling for special counsel john durham to testify on capitol hill next week after his scathing report reveals that the fbi had no factual today investigate former president trump for colluding with russia in 2016. >> vivek ramaswamy is running for president as a republican he joins us now. vivek, good to see you. as someone running against the former president for the 2024 ticket. how concerning is it for you and everyone on that republican ticket following this report? >> this is deeply concerning and a call i made in early march the president needs to shut down the fbi. this is a corrupt institution that has repeatedly revealed itself to be politicized. the same fbi that went after martin luther king now effectiv

at any time during the campaign anyone in the trump campaign had been in contact with any russian intel officials. now, despite the damning important trail, strzok is still spinning. >> this is a predictable sad ending to an investigation that never should have taken place wham we have here is john durham a u.s. attorney taking a roam traditionally reserved for criminal prosecutions and essentially writing a four-year editorial for what he and bill barr thought that donald trump wanted to hear. >> oh, does that mean he just wants to turn the page? what a fraud. now this, was rank abuse of offense and politically motivated use of federal resources. yet durham's conclusion was only that the fbi failed to up hold their important mission of strict fidelity to the law. yeah, it is outrageous this happened. it is arguably worse than watergate when you look at all the facts but the truth centers for disease control one is going to do anything about it. now how do we know this? i'd say look no further than thousand press is treating the family biden money train. last week congressmen jim comber

get former intel officials onboard to say this laptop is part of russian disinformation campaign. that is what they did and used in the debate, as you see in the clip we played. in light of what we learned about the laptop and about hunter biden being under federal investigation now for more than four years, i moon, at thatim too, hunter biden was under federal investigation, that investigation began in 2018, two years into a federal investigation, it is just really stunning and that e-mail john solo mon released is something. >> ashley: it is something it's taking so long to get information out on this one person, actually a group of people. >> todd: and antony blinken said none of this happened and we have receipts and brooke singman has shown us the receipts. vice president kamala harris showing off her newly purchased records, yes, vinyl, to the press yesterday after visiting a vinyl store in dc, but walked off after being asked about the debt ceiling. watch. >> this one? so good, it's a classic. and then, this, this beautiful one, ela fitzgerald and louis armstrong. >> ashley

bidem paign,the biden campaign and for us security and intel officials that went along.on this wasat their iion kind donan to help joe hurt donald trump in the process and lie to you,p the american people, in the lead up to an electionto a.. nobody checked out that laptop. now, wait a second. here.h >> don't those people care so much about free and fairur elections? thn't we get that lecture a lot? that's what they sayat's wha one news. cnn, right. they claim they claim to be sowe worried about disinformation, td misinformation. 20member, in the lead up to the 2020 election, these people, including current and former governmentrats bureaucrats and officials, they worked on behalf of the biden campaign to willfully spread disinformation about hunter biden, his laptop to you,. the american people, you hadll the media mob, big tech,1 the fbi, all these and fifty one people, all in an effort to shape the election mistak no mistake, they don't nt regret it one bit anyway.h d >> here now with more. chi and he has breaking news the tonight is editor in chief of just a news.com investigative

intel down 14%, amd down 22% yes, ai is the high.res the h-100 chip from nvidia, but will that be enough to drive growth in the quarter and in the subsequent quarters in the near term? >> we can't wait to see you in "overtime. we'll see you in a bit kristina partsinevelos, get ready for what's the biggest earnings report of the season. mike santoli, bespoke always has great information. the stock nvidia, has been up 90% plus in the six months leading up to an earnings report five other times on the five earnings reaction days that followed, nvidia was up four times out of the five. huge moves and not really a sell on that news. >> no. momentum is a real phenomenon in markets, both price momentum and fundamental momentum and story line momentum. i think that's one of the things it tells you what's fascinating is the way this stock has so massively repriced at a time when earnings in the current fiscal year are basically -- supposed to come in where last fiscal year came in we moved forward this earnings power by a year, meaning moved

intel is down. some of the others are sliding out, there is a little bit more sobriety at least in my sector. in terms of other areas there is a lot of talk. alex: nvidia is delivering and it is profitable compared to companies in past moments of excesses. ian, think you for your decades of experience covering semiconductors in asia and the u.s.. let's bring in mona, every joneses senior investment strategist. you listen to us talk to ian just now. when the s&p 500 up 610 7%, clearly -- .6%, clearly powered by tech names the dow loses because it doesn't have tech exposure. is this a strong stock market or a fragile stock market given how narrow the winners are? >> this year the s&p is up 7% plus it is been very narrow leadership. only three sectors are outperforming the broader market. technology, come services, consumer discretionary. the quality growth parts of the argot some of the sectors are up 20% plus, back in bull market territory. the cyclical more defense parts of the market are more laggi

. >> some of the intel officials who signed the letter admitted this was all about politics.y wanted joe biden in the white house, not donald trump. >> these people know the bidens are corrupt. but their hatred for donald trump f outways. some of the intel officials who signed the letter tell fox they did so because trump's personal attorney rudy giuliani had a contact with a russian agent. and the ukrainian government sanctioned them for spreading russian propaganda. benjamin hall asked the secretary of state if he was involved in the hunter biden laptop letter. >> tell us about the letter that was written saying the laptop was russian disinformation. can you explain your role in that. >> one of the great benefits of this job is i don't do politics. but with regard to that letter, i didn't -- it wasn't my idea, didn't ask for it, didn't solicit it. >> some of the intel officials who signed the letter say they are receiving death threats. liz: let's bring in the former speech writer for president bush and bill mcgurn. >> this is how the beltway lies. we know the work about th

hetes that 50 intel officials have said it has noe markings of russian disinformation. we know that that's all wrong. that was all a lie. but it really struck me that con i saw, speaking of congressional investigations, goingr john brennan and another are going to have to go testifyo in front of congress. james clapper are going to have to go and testify in congress about the weaponization of the governmente . can you clue us into that was a little bit? i think people felt it wasai unfair, but now it actually hass some legs, does it?t there's a curious thing about this letter, right? because we do know it's false. >> it's soon after thise allegation came out, american intelligence came out with a statement that there's no evidence that there wawas russin disinformation or or intelligencemation efforts here. >> but you have these 51 experts that wanted to get this out right before the campaign. >> and now we're learning thi pretty much what was presumed that this was an effort ofthis the biden campaign to give himoi this talking point in earlientr as you know, morale bas

it was signed by fiftyapto one former intel officials claiming the laptopp was russiah disinfo, a claim as credible as a previous winning indianapolis 500 500.f it's the biggest lie since if you like your doctor, you can keep your doctor, which i told t my staff beforolf beforee elimig their health plan, burrell admitted drafting as a talking point for joe to use in the debate with president t trump. true, joe needed allal p the hep you could get with his talking heints. most ollf the time, he can't tak or point how he needs help with his talking points. >> morale urged cia boss john john brennan to sign the letter and admittedn the le he wasgn deliberately trying to help biden's 2020 campaign. and brennan immediatelnan immey. reported the corruption to the american public, though he did. >> just kidding. he said . add my namd e to the list, good. initiative and thanks fori be asking me to sign. i bet he blames russia when hesi forgetves his anniversary. >> so some of the highestintel ranking intel officialsp with obvious political motivations teamed up to help knocto hel k a guy they d

. >> joiningow joh me now, tional john raclette, former director of national intel. i. john , your response tonight to what's unfolding? the dhs is basicallys is announh to all the people who got away papedidn't fill out the little piece of paper that a crackdowno is coming. is this this is just theater, l is it not?, laura ?ou it's either, you know, colossall stupidity. or as you intimated in delib your opening, it's deliberate. i mean, this is anthis every administration that has opened every door in every windowery y as you as you outlinede, with charlie hurt there from t day one . >> to remain in mexico policy. the agreements with mexico, guatemala, honduras, el salvador, stop building the wall, all of the things el that were effective duringsalvar the trump campaign, they all went away. day one , the onlyall the gs frf a of a firewall, if you will.thn the only thingly that is making a bad situation, not beyond comprehension was titlet forty two . the policy that hahas allowed counpoint seven million illegal over the last three years to be immediately expelled from

the biden campaign and former us security and intel officials that went along this was there in kind donation to help joe heard donald trump in the process and lied to you. the american people in the lead up to an election, former c i, a director, mike morel. it goes back to the obama era and in the email, he admits that this letter that was signed by a number of members of the us intelligence apparatus was done as a political move to a divided into 2020 elections. now he also goes on to admit that another obama here as the i a boss, john brennan also knew it was a political maneuver. here's what's in the latter, john, can i add your name to this list? we'll be adding leon gordon. j johnson. george. listen, monica, and mike rogers today and working on adding done codes, mike rogers and tell them both sort and lots of other i see korea fault trying to give the campaign particular during the debate on thursday, talking point to push back on trump on this issue. thanks, michael. okay, michael. add my name to the list. good initiative, thanks for asking me to sign on but gets better. app

. >> laura: joining me now john radcliffe former director of national intel. john, your response tonight to what's unfolding, the dhs is basically announcing to all the people who got away and didn't fill out the little piece of paper that a crackdown is coming. this is just theater, is it not? >> yeah, laura, it's either, you know, colossal stupidity or as you intimated in your opening it's deliberate. this is an administration that has opened every door and every window, as you outlined with charlie hurt there, from day one, the remain in mexico policy, the agreements with mexico, guatemala honduras el salvador. all the things from the trump campaign went away day one. the only semblance of a fire wall, the only thing making a bad situation not beyond comprehension was title 42, the policy that has allowed 2.7 million illegals over the last three years to be immediately expelled from the country before they can seek asylum, and now on thursday, joe biden's going to take that last line of defense away. and what's going to happen is just an absolute disaster i

that letter from 51 intel officials was coordinated with the biden campaign. so much so the biden campaign told mike morel, here are the journalists we want to sell the story to, letter to first. why not come clean? why not tell the truth? tell the american people the truth. they deserve that from their government. again, the fundamental question is -- what did they do to warrant the receipt of millions and millions of dollars? why did -- why did joe biden's brother, why did joe biden's sister-in-law, why did joe biden's son, why did so many family members get the money? what did they do to warrant receipt of that money? that's the fundamental question. chairman comer and the team have done great work and they're determined to get answers to those fundamental questions. mr. comer: i want to thank the committee. i want to thank the staff for the time pouring through these documents. now we'd like to entertain questions. and i want to begin with the fourth largest newspaper in the state who i've read somewhere was banned from the white house bull we ale start wi

>> yeah, i think intel we remain cautious they are exposed to the same large rising time.i conductors is a game of incumbency market shares only change when the incumbent messes up. intel messed up many years ago but now when you look at this new market of ai, nvidia is not messing up broadcom is not messing up that makes it very ethical for other players. >> well said thank you for your time today. >> thank you, kelly. >>> still ahead, much more on the ai space, including which industries are the fastest growing in tech. we'll tell you more when "the exchange" comes back stay with us >>> good afternoon welcome back to "the exchange. i'm tyler mathsen with your cnbc news update at this hour a new report from the illinois attorney general found a long history of sex abuse in catholic churches across the state. investigators found that 451 clergy sexually abused nearly 2,000 children between 1950 and 2019, far more than the 103 individuals the church named when the state began its review in 2018. >>> a russian court extended american journalist evan gerschkovich's pretrial i

according to latest government reports, people are seen here fleeing coast, intel of leave. after our read sirens, run out, media reports say several residential buildings in border regions where hit to, but no fatalities helping reported so far, or middle east, corresponding risk. the notion that has more on the escalating developments the attacks are escalating. these real thing to use is large scale offensive gains gauze all more precisely, and against islamic jihad colleague's team. in the militant group based industry, dozens of fights and helicopters are involved in shield. and error operation is wrote earlier, eliminated 3 top military commanders of palestinian islamic jihad, including the one responsible for northern regions and the one in charge of directing operations in the west bank. that's a very, very important person. and a truly dramatic escalation on the ground. i have to say these really for administrative, cultural change visit to india and to return back home due to security situation earlier, prime minister and defense minister of israel. how does securi

jonathan: compare it to intel, the chipmaker is six times the size of intel that had twice nvidia's national revenue last year. this is about growth and people are excited about the growth of this company. tom: it is growth, but a strategic discussion about the length of the model. in the cloud computing space, it is clear there is a five-year window of growth. i think they said yesterday that they see a more persistent, predictable growth in generative ai. i came away with the idea as a complete amateur that all of a sudden ai is not a bubble or something to chitchat about. that these people are minting revenue and margin from it. jonathan: in a major way and quickly. looking forward to catching up with bloomberg intelligence later this hour. in this bond market, 10 consecutive sessions of yield climbing at the front end of the curve. 50 basis point move over the last 10 sessions. this is interesting going into this debt ceiling impasse. treasuries are not rallying. tom: i said, is this real? did you take the vacation off? no, this is tangible tomorrow. tomorrow and friday into a three-day