john ford with nvidia ceo jensen wong.egy chip demand plus post-interview analysis jensen wong a cnbc special report tomorrow, 7 p.m. eastern on cnbc. >> busy week. >> continues as. we march. >> our. >> way through earnings. >> get ready for. >> some big. >> ones beginning. >> tomorrow, of course with nvidia. futures have been circulating the flatline dow doing a little bit better than the other two. opening bell coming up in just about four minutes. >> experience the power of cnbc pro. never miss a moment with exclusive access to market moving interviews and stock picks. become a smarter investor picks. become a smarter investor with the power ofhop our i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. [

jensen wong a cnbc special report tomorrow, 7 p.m. eastern on cnbc. >> welcome back to squawk box.t the ai economy subject to a massive vulnerability. and that is the ocean, writing that the subsea cables that channel the two elements foundational of the ai economy data and power face ever increasing dangers. joining us right now to talk about it, jared cohn is the president of global affairs at goldman sachs. co-head of goldman sachs global institute. he's also a former ceo of google's jigsaw. good morning to you. good morning. >> this one. >> actually surprised me because i hadn't spent a lot of time thinking about cables under the ocean. >> and. >> the ocean being a problem for ai. so explain it. >> i'm surprised. >> you don't. >> spend your time thinking about undersea cables, andrew. look, for. >> all the. >> talk about ai, infrastructure. and global trade. >> 80% of trade moves. across the. ocean and 95% of data. flows underneath the. >> ocean. >> across 750,000 miles of undersea cables. so to put that in perspective, that's enough to go around the earth 30 different times. >

don't miss my interview with jensen wong on thursday. with marketable missed, let's get to the floor show, jpmorgan asset management, david leibowitz and scott bauer. let me begin with you. you have been focusing on the consumer and what do we see? a confused consumer who is thinking i'm not as confident as i used to be. what does that translate to the market? >> you are seeing it in the consumer but also the business surveys, the pmis for manufacturing and services. if you read through the quotes in the back of the report, businesses are becoming unsettled given the volatility around tariffs in particular. that's showing up on the consumer side whether you look at the university of michigan survey, the consumer confidence numbers this morning, the tariffs themselves this volleying back-and-forth of are they going to beyond, in terms of policy that is creating uncertainty and when there is uncertainty people wait and see and growth slows and that is what the market is sniffing. liz: they purchase from dollar stores and consumer staples a

then when jensen wong said a few things it kind of took a nosedive. i'm looking at the chart on rigetti. i think d-wave down between 22 and 33%. and then the impact of deep sea. can we just kind of put this all in a boat? is there still an impact that's being felt in your industry when it comes to ai? when it comes to ai infrastructure, energy needs? we just talked about energy companies actually boosting demand, but longer term what's going to be that deep sea impact? >> well. >> on the quantum side. they're still. >> way up. >> net net compared to where they were a year ago. so i think it's really interesting to look at the quantum stocks. on china though. that's i think the bigger issue right now, it's not just deep sea. if you look at alibaba's tianwen, which is alibaba's offering, the ai space, you just mentioned, baidu's ernie bot, you actually have a range of 8 or 9 different large language models that have come into the picture. we predicted. >> a number of years ago. >> that the large language model space would be commoditized. frank, you're

investors will be looking to ceo jensen wong for commentary on the supply of its latest chip, the impact of tariff tariffs and, of course, any fallout from last week's last month's deep sea news. hard to believe it was a month ago, scott. >> yeah. no, it perfect set up for us. seema. thanks so much. seema mody staying with nvidia now earnings obviously front and center next week. the latest checkup on the strength of the ai trade. for more on what to expect and what the current landscape actually looks like right now, let's bring in firstmark capital founder and partner rick heisman. welcome back. it's good to see you. so let's just think about nvidia for a minute. i mean, in general, what do you think is on the line next week for the ai trade. >> well it's really or people continuing. >> to spend on capex. and we're. >> seeing not only the hyperscalers but also companies in the private market continuing to bet big on the long term on ai and therefore continuing to buy chips. >> nvidia so we heard within the last 24 hours from jensen wang, ceo, who addressed the fallout from deep sea, su