what matters here is that jensen huang didn't like mark zuckerberg. they were opposed. i met -- at one point in one of the meetings with jensen, he talked about how the model that mark zuckerberg thi had is base combat. he didn't want to be part of combat, he wanted to be part of peace. >> what happened? to let our viewers -- you know both of these guys. what happened here? >> okay, they got to know each other very well. they met each other a bunch of times out of work. and came to -- and over time they really genuinely enjoyed each other. and that's who they are. but i got to tell you, jensen wanted it that way. jensen knew that mark wanted to be a gigantic client and did not want to dislike him. he wanted to know more about him. i told him i thought zuckerberg was a reasonable man. you have to get off the desk. and see him in real life. >> what do you think about the fact that okay these guys are hugging and seemingly friends? is there a -- >> a takeaway? >> yes, for the business community, for the world at large? >> yes, mark zuckerberg believes in the industrial revo

>> jensen huang sits down with mark zuckerberg today in a fireside chat. >> oh. >> yeah.t a graphics conference. >> okay. >> in denver. and i -- i think this could be the first time -- and of course, darn it, zuckerberg's been quiet because of reports from meta, but you might see him lay out something positive with jensen there. remember, jensen and mark did not -- my buddies jensen and mark -- did not necessarily get along when this whole thing started, and then mark realized the value, and i think that he's a big roi guy. he's not known, other than that one branch where he's just trying to figure out what to do, and i think he does the ray-bans, but that can't move the needle. stock's up for whatever reason. but i do think that he can lay out a good case with jensen there about why he wants to spend some money with jensen huang. i think that nvidia never recovered from former president trump's -- >> taiwan comments? >> i have sources in the prc, shocking as that is. they're americans who are there. >> they're americans -- what? do you really want me to ask you questions

. >> we know that jensen huang says the return on investment, ceo of nvidia, is almost instant. believe that you would say that an employee may be doubly productive with a.i., and yet we still don't hear from any executive, we have a.i., and we've been able to trim staff. we've been able to become a much more productive and we've been able to boost earnings per share. when will an executive come on and say, listen, our numbers are going higher because of a.i.? >> i believe that you will see, overall, a.i. will increase productivity, will help us get more productive, and most importantly, help us get better products out faster. so, i think all of that is there. now, i don't believe that things are instantaneous. technology takes time to adopt. that's just the way technology cycles are. we're investing today for the return in a couple of ears, and i think that's absolutely the right thing to do. that's the way we think about these investment cycles. not quite instantaneous, but they're definitely coming, jim. >> lisa su, thank you, and the guide up was amazing, even though david w

you talk about jensen huang, and you talk about getting right with jensen.hat is nvidia doing with you that's so exceptional? >> well, we started building large language models with jensen and nvidia, great company, great leader, more than five years ago. so, this is not wet paint. we have been at this for a while. and because we've been at this for a while, we've built our game plan on top of the amazing technology of nvidia, and i mean, the whole stack. so, if you think about that partnership and what we did, we started with i.t., we quickly moved it into the employee experience. now, we're running the table in customer experience, and obviously, developers are improving their productivity by 55%, so the compute power coming from nvidia is powering the servicenow platform. >> all right, yeah, it is an excellent partnership. one last thing i had. carl, actually, back from workday on and marc benioff yesterday from servicenow, they want to come at you. they want to do on-boarding. they say they have the data, not clear they think that you have the data, but

assistant including the ceo of nvidia, jensen huang. stuart: that's fascinating. haw lauren yeah.ee computers and a pair offing goggles to train a robot. stuart: you made me understand that. lauren: how would you train a robot to do your job? the. [laughter] stuart: we're going to change the subject, shall we? amazon. i believe they're expanding their 1 to 2-day delivery service? lauren: for rural areas. that's a big deal. it's like the last frontier. it's bad for the usps, they typically to that delivery for rural america. how does amazon do this, and why is the stock so convinced? they're going to use what they're call aing hyper-efficient warehouses, they're going to contract the drivers and use local shops, mom and pops. they don't plan to do 100% of this delivery, maybe settle at 90%, and it's making financial sense for them because they're charging sellers fees to the package and deliver. so it's the on the back of the sellers. stuart: smart company, oohed say. delta. i'm sure they're going to sue crowdstrike and microsoft if because of that mass outage. there's huge damages

. >> charles, what does that orientation have you stand with jensen huang at nvidia, given what a hugeying to keep the heat down at his data centers? >> he's a great leader, you know. when i talk to him, i really appreciate his talent. he is a genius. so it's very good experience to work with him. and he always bring a challenge to customer like us. but it's a great challenge. we together for our industry and for our planet. so it's been a very exciting, happy experience. >> all right, so, charles, i was with a former partner of goldman sachs this weekend, and he said we're going back and forth. and he said, you know, jim, this ai spend can't continue at this pace. and i said yes, it could actually accelerate from this level. what where do you see artificial intelligence spending in the next three to five years? >> oh, i personally believe this ai can be bigger even that the auto revolution. because older people like the convenience, the smarter tool, the fancy feature that ai over the our people. so i believe it will continue to improve. and the good thing is we nvidia, the technology

i know i sound like a broken record, but these companies are all part of nvidia's jensen huang callst of the march of accelerated computing and generative artificial intelligence. hardware is an incentive like i've never seen. maybe in the 90s. when you consider the size of these companies, the multi- trillion dollar capitalization, it's remarkable. it keeps widening. this morning intuit, a financial service company that i like very much announced layoffs that they indicated were artificial intelligence related. and the software company has been saying it will be one of the leaders in using a.i. to improve the customer experience. now it does have a host of visions that could easily substitute a.i. for employees. you know what, it makes a ton of sense. i understood the announcement. many of the people let go could be rehired. to me it sounds like the ceo is doing exactly what the new technology allows him to do even though it has been a very tough medicine to fire people. but the market's reaction was severe. the stock losing almost 2.6%. now some of that might be related to the turm

opened a 30-day upside call on nvidia as analysts there eagerly await a fireside chat between ceo jensen huangders are expected to talk artificial intelligence and potential collaborations. analysts there also add that the geopolitical risk that weighed on chip stocks last week presents a good buying opportunity. now, with today's price action, stock is now less than 10% from its recent high, trading higher by about .6% in today's trade, mike. >> seema, thank you very much. vijay, semiconductor, different part of the industry. what's the set-up here as they try to contend with a cycle that's been a little bit tough? >> sure. thanks for having me on, mike. i think this is the analog group as a whole, including xpi, what they're seeing is probably two years of underperformance. so we think now what you're seeing is the analog group has gone through a significant inventory correction and we should start to see inventory across the supply chain start to normalize, and that sets it up for a nice, you know, nice outperformance over the next six months to two years. what we see, also, is automotive i

that's not that far from what jensen huang says with nvidia.vidia with a big shoutout, 50,000 nvidia chips in this one plant. he has to take a shot at nvidia too because he says he needs more, he can't get more, so we have to make our own. >> dojo is their own. they're in such demand. i think we have that sound. >> you want to play that? >> sure, we'll play it. >> go ahead. >> what we are seeing is that the demand for nvidia hardware is so high that it's often difficult to get the gpus, and the -- there just seems to be this -- i guess i'm quite concerned about actually being able to get state-of-the-art nvidia gpus when we want them, and i think this therefore requires that we put a lot more effort on dojo in order to have -- that we've got the training capability that we need. so, we are going to double down on dojo, and we do see a path to being competitive with nvidia. >> there it is. i mean, over time, he's basically saying these -- those chips are going to be in such demand that we need to have our own. >> the blackwell 200, that's the ne

i also do wonder, i mean, you hear jensen huang at nvidia talk about how much more efficient each iteratione other companies. you can solve for it two different ways. more power or make them more power efficient over time, make the actual datacenters more power efficient. so, i think, you know, at some point, it maybe is not as easy as, yep, prices of electricity going up, we're going to need a lot more of it. but in the short-term, there's no other solution. >> no, and as they become more power efficient, you just put more and more of them in the datacenter, which will ultimately overwhelm the idea of more efficiency in a sense because you're doing even more computing. >> we're in this phase, just throwing money and capacity at it. raymond james, in, i think, raising its price target on meta today, part of it is, they say, we're the street high for next year's capex number for meta. $50 billion. that's the bullish case. they're going to invest even more and fastener these a.i. capacities and kind of have an internalized a.i. system, and that shows you the thinking, and that's why the marke

. >> more importantly is whether we're going to see jensen huang, bezos and others -- >> using a.i.nk only zuckerberg. i'm going only with zuckerberg. wil wilfred, it was great to see you this week. >> give the challenge to musk. >> are you here next week? >> no. it's been a pleasure. thanks for having me. >>> have a great weekend. our live market coverage tethwoig with these t rht afr is. i can't believe you corporate types are still at it. just stop calling each other rock stars. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. >>> good friday morning and welcome to "money movers." i'm leslie picker with wilfred frost live from post 9 of the new york stock exchange. coming up, jared bernstein with the jobs

. >> jensen huang stole me they speak 28 languages. go make some fries, will you? >> sure, jim.o make you some fries. >> don't get the basket thing on your arm. >> burn you. >> checkerboard. >> as we go to break, watch bonds. in addition to powell and yellen this morning, we will get a three-year note auction and bowman after that at 1:30 today. intel the best component as it's gunk for a fifth day higher. we'll be right back. [crowd chanting] they ignored your potential, and mocked your ambition. but it's not the critic who counts. with every swing and block, your game plan never changed. ♪♪ some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪ (man 1) can you hear me now? can you hear me now? can you hear me now? (dj) can you hear me now? (runner) stay with me now! (teens) oooo! (woman 1) mírame ahora! (woman 2) get em now! (roger goodell) we're ready now! (woman 3) have fun! (fan) ooo, pinch me now! (woman 4) save me now! (toddler) let's go now! (woman 5) check me now! (toddler) catch me now! (gamer 1) cmon! (gamer 2) play me now! (toddl

point of how many chips jpmorgan has ordered from nvidia, how much time jamie dimon has spent with jensen huang many computer scientists they have at the bank, for example. all of which, you know, when he did his -- i think he did something on "mad money" this week, the idea of what will be in the trillion dollar club in the future. jpmorgan was an outlier but one he thought perhaps could. >> what's their highest expense? it's labor. >> they do spend an enormous amount on technology. >> biggest buyer of software is financial services. >> they're spending a lot of money on that tower, by the way. it is beautiful. i don't know if you guys have walked by. >> go past it all the time. >> i'm talking about jpmorgan's new -- >> it looks like a rocket ship. >> it's incredible, and the engineering that has had to go on in part because they've got the train station below it. i think it's close to getting topped off. i don't know. i was up high yesterday looking at the very top of it. it's quite a structure. >> but an expense. >> they spent over $3 billion on it easily. >> good for midtown. midtown needs

i think that when you sit down with jensen huang who is not talking about the military, boy, everything so much of the military hardware made with gaming chips. >> really? >> yes, yes. it's nvidia, the fastest chips in the world. i think we ought to be more sensitive to what silicon valley says. pal t pal palantir. >> they gave me the consumer package good guy which imention on air because i thought, did you hear me what i had to say on air? no. by the way, we have a new bank winner, pnc, like they ever do anything wrong. it doesn't even matter. i don't care what they do. bye, bye, bye. >> loans down one and deposit down two. >> doesn't matter. pnc is sainted. they represent the great middle class. that's the rap. >> the one call we didn't goat that is notable is shopify. bofa goes to buy, up a few bucks to 82. that's almost up -- >> the president of shopify said what turned out to be very true. they're the small and medium sized business. that's the rap of the republican party. it used to be the rap i felt of the democratic party, but they're in favor of union. president biden has laid

this is the fireside chat sitdown with jensen huang and mark zuckerberg at a graphics conference on theon this zuckerberg, on the luxoticca, but you got to remember this was incredible that zuckerberg sits down with nvidia when jensen used to say, listen, he's for combat, he used to say, he's for combat, i come in peace. well, they are together and i think it's fantastic for both of them, but don't forget, what matters is who do you think is going to be in the white house. >> and we'll talk more about the smh. it's been a rough few days. >> easy come, easy go. it's up huge. >> get the opening bell in a moment. stay with us. welcome to the now way to network... they switched to juniper's ai-native network. now everyone's so productive, they're operating at a higher gear... now their network is self-configuring, self-detecting and self-healing. so their it team deals with up to 90% fewer network trouble tickets. (sonic boom) whoa, what was that? just the sound barrier. that's the now way to network at work—with real ai—putting you in the fast lane. (♪♪) hi, i'm greg. i live in bloomington

that's much higher than it costs to make, but jensen huang, the ceo, will tell you, listen, we've spentillions on this, so we're going to get our return and that's another reason people are surprise bid the price tag. >> given what cpi gave us today, russell is up almost 2%. is now the time to start buying iwm and everything else? >> i still like so many of these companies that are connected with datacenter. >> really? >> i find it -- >> what level of inflation or rates would get you interested in small caps? >> small caps are so hard, because they're in the scrum. they're just in the scrum. when you go and you look at the -- well, wd 40 was one of the rare ones. >> lower rates help. >> well, yeah, i know, but when you had -- you can go buy the index, but when you do the granular nature, you find, wow, that one's not doing that good. that one's okay. that's what i'm saying. i'd rather by micron, say, at $132. >> we got a cool inflation number and the s&p is down, or flat, let's call it, and the nasdaq is flat. >> tell me something new. did i really not think there was a core inflation n

. >> jensen huang, the ceo of nvidia, said, over and over again, you can't be third, fourth on this.ou got to be first. this is a -- it's not a winner take all, loser take none, because there's so much business, but you have to be a first mover, or else you're going to be left behind. i believe that. i'm sure google, which there's a great piece about alphabet and how laura martin, the biggest business out there is youtube. but they -- >> she's been calling for that split for years. >> i know. i know. gra gratuitous mention. but 7% of the chips are going to google. that may be not enough. >> meantime, we mentioned the kellogg downgrade. we've got this initiation lower on target. we've got a cautious note from ubs on retailers and tariffs. does everything else get shuttered? >> the 10% tariff, i had to deal with that with constellation brands because you get the tariff, they bring in modelo and corona. if you're going to be that nitty-gritty and talk about the 10% tariff, everybody's going to have it. >> the downgrade of visa and mastercard. >> i didn't like that at all. the idea that