chips this is jensen huang on last night's call >> our demand is tremendous. we are significantly expanding our production capacity. supply will substantially increase for the rest of this year and next year nvidia has been preparing for this for over two decades. >> jim, no lack of superlatives today. >> no. and look, because i do want to be able to get in, i have everest nvidia this was the dog i named -- i renamed. jensen huang gave me this one so i could get into headquarters and when nvidia passed away, he insisted that our new dog be called nvidia ragu cramer, and this is so he can get in let me explain to people there's been a lot of misinformation, including a lot of questions that were wrong on the conference call. what's really going on here. this is going to replace everything it's not one of those things where people keep saying, well, what are they going to do with it they've ordered it well, we know what they're going to do with it. they're going to rip out everything else, and this is going to be the only thing that's used in the datacenter. it'

after the analyst q&a jensen huang came back on and delivered like a four-minute summation like thank you for listening to an hour and a half of our conference call. here are the things i want you to go away with. this is not done this is not normal most of the time analysts hang up the phone and they say this concludes the second quarter, blah, blah, blah what did he hammer home in the last four minutes? if you're an investor and you don't know, after the show, that's what you want to focus on there are two simultaneous world changing computing revolutions happening at the same time one of them is accelerated computing it is the intermingled nature of the two that is the crux of why nvidia is working and why we should be spending our time looking for other names that are going to benefit as a result >> and we're going to get to that in a moment it's a good segue. josh makes a good point about the idea of existing holdings, it's existing shareholders versus the chasers it is what it is you're watching it and you're running after the train. the train slows down enough you run in and gr

going to get hurt it's been driven by multiple expansion which has been invented by ai i think jensen huang is way too smart to have come out and said what he said last quarter not able to back it up this quarter. as a ceo if they miss this quarter, i'm talking his guidance >> i want kristina to comment on that >> jensen huang took the stage at a conference and was very bullish on ai. that is a bullish sign that will come out of the call you talked about validating this earnings report. i wonder whether it will validate the future. >> yes >> is this a one-time, lump-sum fee? what is that reoccurring revenue? nvidia has the ai inference part where other players can step in, not only amd but google, microsoft, all of these guys are coming up with their own chips to keep the costs in house, the data in house. that's a threat a year from now. >> it's why investors are willing to play 50-plus times earnings for nvidia or whatever above market multiple they're willing to pay, liz young, on any of these names what this technology will mean and the major players that will take advantage of the most

. >> i think jensen huang, once again, braus of what he's building, musk has gotten very -- i'd say onceang saying you need a huge amount of power to be able to figure out autonomous i think they'll combine resources again. some people, by the way, david, are not as happy as when i come out and say great things about musk they talk about individual issues -- >> become a divisive figure. no doubt about that. doesn't take away from being the most consequential businessman on the planet. he's made a choice to be divisive >> so did henry ford really interesting analysis, by the way, adam jonas talking about losing $50,000 per unit. [ bell ringing ]. >> american homes for rent celebrating an anniversary. >> -- [ cheers and applause ]. >> release the homes >> a non-profit pouring young people in new york city to take control of their future. where do you want to start now that we have started trading, jim? >> david, i want to come back to these transformational companies that are doing things that we just don't herald. again, i'll start we'd den it's an $84 billion company that decided, you kn

. >> if you go back to when jensen huang, the godfather of a.i., dan ives called him. >> did he? was it michael corleone, his father? don corleone, perhaps? one of the things that's very important is that jensen said, look, it might take to the end of the year to get all that we need. the end of the year, that would mean they can't make more than the number they preannounced. it's always possible that somehow they were able to get the cards, and therefore, they can get the numbers. it doesn't help that we play this game like when you're an auc auctioneer, do i have 550? 625 in the front. dh check to the phone. they're playing this game, and i don't know why. but i will say that there's a path for him to make all these, but it has to do with tsmc, not with him. >> right. >> because the customers are clamoring. there's, you know, there's customers globally that recognize that you need to have, including david met with elon musk, and elon musk needs a super computer. the saudis need a super computer. amazon needs a super computer. meta. zuckerberg needs a super computer, especially

price target implies you see the stock moving 17% higher how does it move 17% what is the catalyst jensen huang putting out good confidence for the quarter where is the negativity coming from for the quarter >> it is them putting more product out there. right now, my conversation suggests 40 weeks of lead time plus for the h-100 product for channels other channels is a year plus. i'm being a bit facetious in saying infinite demand. at some point, you have to see the models turn into revenue for the customers. we have to see more use of a.i we're not at that point right now. >> i know you are being colorful with infinite demand two factors going into the report the supply chain and china on the call, the ceo said he expects supply to increase in each of the next four quarters he said there is not rush of orders from china. what is the take from that issue? >> i think there is a larger issue with china for all of tech, you have to wonder if the situation will determine if shipments might be a problem for u.s. interests and if it creates risk obviously, nvidia on the front of a.i., is not excluded

remember, when you're in the data center, what you're thinking about is what jensen huang is doing inhe video. they have this chip called grace hopper. and hopper -- it's all nvidia, but grace is the cpu and hopper is a gpu. amd makes cpus, intel makes cpus. they're on the x86 model. this is not that. this is a major break through by arm to be the partner. remember, nvidia tried to buy arm. the head of arm is from nvidia, and they're very close -- very close with jensen. the reason i'm very excited about this deal is because, if they're the cpu chosen to be in grace hopper, which is a gh 200, the fastest computer -- what they'll need for soup your computers, that's a huge leg up on amd which i like and intel which i don't care for. going away from the 286 toward arm. arm is the winner. they have the best technology. that's why i'm excited about it. >> i think a key part of the story that they'll be selling to wall street will be ai-related. of course, it's real and offers particularly significant growth off the numbers you just saw. >> spectacular. >> what's spectacular? >> what arm h

when i listen to jensen huang, i'm ruining my transcript, i know it, because i'm so blown away by thean. but he's the only guy right now that's blowing me away >> we'll talk more about the big tech names coming later tonight in a moment. jim does mention, though, bond yields, and we have new commentary from buffett this morning, shrugging off some of the concerns about fitch's credit raiding downgrade, noting it's not changing what he's doing at the moment. saying, berkshire bought $10 billion in treasurys this monday and the only question for next monday is whether we will buy $10 billion in t-bills >> that's not danger, will robinson he's got a lot of cash, put it short. i think that the speed with which, if you were trying to buy the 20-year, you would get the report, and you would be down immediately. and so, that's fine. look, i like the fact that he says, don't worry. he's always calm >> echoed by dimon yesterday >> yeah. i mean, by the way, leslie picker -- >> great interview >> unbelievable interview. let's acknowledge when people do amazing things had jamie dimon say things t

the ai case today could be helped by jensen huang, the nvidia ceo who is truly at the center of thise cluster of nvidia's newest and highly sought after h100 chips will be available to customers using its growing ai offerings and will talk up their own ai chips known as tpcus. they want to know how all of this computing, these chips, leads to commercialization. so from the picks and shovel chips to a secular wave of applications in retail, streaming, advertising, et cetera. stuff that people like you and me will pay for. we're not buying h100 chips. we're buying the apps that it enables. >> deirdre, do you think the market cares how much some of these big tech companies are spending to be competitive in this space? the market is writing them a blank check saying be competitive. we want to see you succeed. >> 12 months ago we were talking how investors wanted to see more operational efficiencies, companies laying off staff and cutting moon shop projects and now it feels like at least generative ai has been given a pass for now. it raises capex costs in the cloud. and microsoft and oth

when jensen huang of nvidia came on the show in 2022 the stock had been eviscerated for the better partf the year. everyone was giving up on tech in the face of the federal reserve's relentless rate hikes. jensen's stock had been beaten down to the 120s. but he told an incredible story about nvidia's ability to reinvent itself including the motion of what artificial intelligence can really do if it's powered by the right engine. nvidia's engine. less than a month later the stock bottomed. four months later we witnessed the birth of the artificial intelligence boom. one that nvidia had been planning for ages. they had the best chips by far and they built them aggressively in advance. by the spring of 2023 nvidia was making new all-time highs. by the way, we told you to stick with this one for the charitable trust because jensen had earned the benefit of the doubt and nvidia was always able to rebuild itself in the past. even when things were ugly in the tech bear market of 2022. something very similar happened with marc benioff, the bankable ceo of salesforce, during depths of the great

. >> jensen huang's speech today who do you want me to mention? >> i don't know.n all the automakers including tesla, of course >> -- i'll see you and raise you a john stankey. >> -- down 1.75% gm is down, ford is down. >> the september 14th strike is for real i really believe it. i've gone on record with carl. i think it's going to be a strike and think think they're back to a class warfare situation. i see the ftc with amazon which i don't think is going go well jassy reports an amazing number. people absolutely love prime day. he's lowered the price of pretty much everything. no, he's in front of the ftc for doing -- i don't know what monopolistic characteristics. >> what they talk about -- >> what is that meeting going to be like? >> their ability to suppress things that otherwise would occur -- the ftc's view is we should not just be focusing on consumer price there are broader implications -- >> the guidelines are about competition. look, i think amazon is great. it's unlike estee lauder amazon is in a very good position i would tell you i think that meeting

you know what i think of jensen huang. >> i'm aware of what you think of nvidia. >> i've met people athe eagles who thanked me for nvidia. i don't need any of his nonsense >> as they should. what's the point now the point is that -- >> wow see? >> that's -- okay. >> that's jason, and he loved nvidia, and i got to tell you, i did well for him >> i know you did, and for many, many other people, and not just that name, jim but let's get back to that chartist guy >> good picture. >> market historian. he said that when you have a stock that's up this much, 200%, you're going to get a little giveback it's up the most of any stock in the s&p. it's not a meme stock, by the way. it's not rite aid. >> but those things tend to be for companies that are on the brink of bankruptcy. or on the brink of a very difficult period >> you know how sometimes you get a bad steak and you stick a fork in it why don't we just stick a fork in rite aid right now. >> it's only going to make it go up more. >> well, i don't care. i like to save people money. >> we sat here with gamestop for quite some time and it on

. >> nvidia's ceo jensen huang talked about the opportunity in data centers, people don't know, youruel cells power the data centers. what's the outlook and the role your company could play if that market does continue to grow? >> we all expect the data center market to stay strong with the continuing investment in data and analytics and computational capability, data center sxlers strong demand. we provide backups for them today and have an opportunity in fuel cells as well. it is one of the markets we expect will stay strong for us. >> cap-ex, has your view changed? we're talking about cycles. >> yeah. >> there's so much commentary about the reasons why capex, the guidance for capex, is so strong. >> as i talked about that billion dollar investment in our u.s. he engine plants we are investing record levels of capital in research and development because we see the opportunity to grow the company in the future in particular through this decarbonization. we are continuing to invest. as we see some softening in the market we're prioritizing those investments and looking at where we ne

which are -- teach at the university that's getting the chips, the cards look, jensen told me, jensen huangthat they'll be able to meet demand by year-end. but the demand is off the charts so, i understand how people could say that i've liked nvidia since -- i liked nvidia since '15, '16, so i'm a card-carrying nvidiaian. i did say to traders, get out of the way. this is an investment stock. it's an investment there will be moments where there will be -- when you have a stock up 200% where someone's going to hit pause or say, i want to ring the register. but this has to do with the fact that they own a category he called it an iphone moment. he called it a moment like when there was win tel in the pc. jensen is not given to hyperbole. he's saying these things because he sees that you can't do artificial intelligence without his cards. amd does not have anything near it now, cisco reports tonight cisco is saying, over and over again, look, we do have a lot of a.i., but they are going up with melonox, which is an acquisition that nvidia made that was tremendous speaking of acquisitions that d

upside down >> and the advertising stocks have been the worst performers so far, and i find that jensen huanget with some of the advertisers, they don't think they are, but a company that is the same kind of company what would use intuit, paypal, they find that their creative, to hire someone in that group, even to hire monday.com, which reported this morning. the quarter looked very good, but in this environment, it's so hard to get anything enterprise software to do i think that was the quarter you really want to at least see what chatgpt does for you. it might do something more important, more thought-out, and i think that's winning out, particularly for small business people that don't have the money to hire someone to develop a very competitive website >> yeah, this -- you know, we had the writers amtmp meeting on friday and the "journal" piece this morning, luckily, there was no angry press release, but "the journal" has a piece about a job at netflix managing machine learning for $900,000. >> it's real i just think that amazon's able to try to figure it out. i think alphabet's trying t

it was 3.3 billion so that's a massive amount of growth the major concern is getting the supply jensen huang they're okay for the rest ofthe year but you see the numbers, we're going to ship half a billion chips this year and maybe between 1.5 next year, that's a lot of chips they're reliant on taiwan semi. the largest chip contractor in the world. so for tmc to increase at the same rate nvidia is seeing in growth rate is difficult and can't happen overnight so this earnings report will obviously -- i shouldn'tsay obviously. will reflect demand but maybe hinder by supply >> the stock has moved up dramatically since the last quarter when they forecast far above what anybody had anticipated. that's what -- what are we talking about? a $1.4 trillion market value what are investors and analysts looking for? >> long-term investment plans. the big question right now is this a one-time lump sum amount of revenue coming in to nvidia because everybody is buying the hardware or is there an opportunity later on to get that reoccurring revenue which would probably fit in more with software the second av

. >> i'm happy that jensen huang is the hottest thing on the planet it was musk for a while. there have been other people he is such a different leader and ceo. i love it. this is his turn in the spotlight. >> relating back to how it happened when a movie comes through thin air to my iphone, i think that is magic for there to be someone who sees graphic design chips and says i can turn this into something that will make generative language and a.i., those people are so far beyond. i'm glad they did it and p pinvested chatgpt vivek talked about chatgpt i agree. that's not a bad thing >> twice he told him >> chatgpt is really good. >> two criticisms are you are cha chatgpt and one is president obama. >> i think some people could be better at what they do if they were chatgpt a lot of people. >> trying right now. they're working on it. >>> republicans in the spotlight. eight candidates sparring for second place as the frontrunner, trump, tried to steal the spotlight with his interview on x or twitter with tucker carlson. let's bring in eamon javers with the highlights eamon, wha

elon musk and mark zuckerberg will attend and sam altman and jensen huang and alphabet's ceo as we wllwell. it is part of schumer's plan to regulate artificial intelligence industry. >> i never wanted to go to washington more than to see this stuff. see all of them there. this is worth watching. >> probably. get the text or emails or contact information. it would recognize you. >> or you. >> maybe. >> they might recognize me. >> it is early on the west coast. >> yeah. some people can't sleep. >>> coming up, the biden administration planning to unveil the first ten prescription drugs. do you have one of these? what is our average? 67? it will target medicare price negotiations. that's why those people are up. can't sleep. the announcement -- they're watching us. it might help. that's the answer. we'll take a look at the potential impact on the pharma companies next. >>> and later, an offer to unload start-up stakes from pahahi.liptma you are watching "squawk box" on cnbc. they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an