flow would be a truly staggering amount the best analysis i've seen so far about this was from kathy woods from ark invest. >> we know kathy well. >> i would assume you would like her. she's been a huge proponent of your stock for many years. was right, by the way, from early on >> she was right so i thought she was being optimistic, but she turned out to be, in fact, almost spot-on >> that was elon musk praising kathy woods' bet on tesla after first buying into the company in 2016 tesla remains ark's top holding, making up more than 7% of all of ark's etf buy rate joining us now is ark's co-lead of ark's venture, will summerland a nice little shout-out there. and i wonder whether or not his comments last night in aggregate made you more or less confident about your tesla thesis? >> yeah, the way we approach investing and research broadly is through first principles. we really spend a lot of time trying to understand how a new technology is evolving and develop conviction based on that and when we look atartificial intelligence, we've spent a lot of time on cost declines, looking at the co

kathy wood loaded up on $4 million worth of the stock in her portfolio. that they reported their earnings and made a big deal of it. since then, may 8th was up 76%. stuart: we used to have a producer on this program who railed against williams-sonoma because they sold spatulas for $40. they on the upside. not because they are spatulas. lauren: sales are down. they have a stronger adjusted profit. people are saying this expensive stuff. 7% in the quarter, they looked at adjusted profit on that. stuart: democrats in new york are begging president biden to help migrants put them to work. what do they want biden to do? ashley: put them to work, democrats including new york city mayor adams and governor hochul asking biden specifically for special federal work authorization. for the tens of thousands of migrants who arrived in the state since last year. listen to this. >> these asylum-seekers came looking for the american dream, a chance to grow and build successful lives. let's give them a fighting chance of making this dream a reality. >> we need all levels

kathy woods. ponderosa pine. which focuses on the main tech boom.ome of the biggest traders. >> su keenan. that is it for daybreak australia. daybreak: asia is next as we count down to the start of trading this tuesday. this is bloomberg. ♪ haidi:

but i mean, ark for example is not -- i don't know that that's the greatest example, you know, kathy wood got out of nvidia in january and missed the entire ramp i mean, had she stayed in nvidia, ark would be right there because of the weighting of the stock she once held along with a reasonably-size toed tech stock called tesla >> yeah, true, but taking nvidia out of the ark holdings, i mean, ark has kind of become symbolic of a certain type of tech stock. it's not the big microsoft, apple, google names. it's the next ygeneration names and my argument, scott, is -- and i think you quoted this stat with tom on the last segment is, like, if you took out the big fang names, i think you said something like the tech area would be up 4% on the year the point is we haven't seen the broadening out yet, and you could say one natural question is, man, this is a bubble and all these big tech names i've got to come back down to earth where the rest of these other tech names are, or are we going to see, and this is what i believe, you know, a bit of a catchup and a bit of a broadening out of this ral

revenue from adje adjacent to that it's the index as well as the stocks and it has many, including kathy wooda points out today that only 15% of cloud servers can handle these super sped up accelerated computing which leaves a large total adjustable market for nvidia kelly? >> thank you it brings us to today's three-stock lunch. trading the trillion dollar club is david wagner. david, welcome back. it's good theo see you again. let's start with nvidia. are you a buyer here >> i like nvidia long-term here, but i think investors need to understand that price volatility may be the norm moving forward, especially given current valuations i mean, in this ai space, there's going to be winners. there's going to be losers, but it's a huge market, but there's going to be wild prices and crazy valuations and what does nvidia have? probably crazy valuations in the eyes of most people, and it's important that investors need to understand the bulk case around hopper because i do think that gpus moving forward are going to continue to drive positive earnings revisions there's never been a data center sales

kathy woods etf has risen and fallen and risen again as tech has boomed early in 2022.looks like a are heading that way as well. haidi: coming up next, deloitte's chief china economist tells us about better-than-expected first-quarter growth. this is bloomberg. ♪ haidi: the atlanta fed president has favored putting rates on hold right now. he told us policymakers are making headway in the fight against inflation. >> when i think about the trajectory of inflation, i think that we made really good progress on it. you think about where the economy was and where inflation was last summer compared where it is today, we've seen really positive things happening at the 9%-10% levels. it is two times what our target is, so there still a ways to go. i do think we've seen some of the froth really come out of the inflation measure. one of the measures i try to keep track of is the number of goods in the basket, showing inflation above 5%. right now in the latest report that is less than half now in that range. at one point he was 70%-80%. that is a positive sign. we are starting to

believe he sees this great opportunity and tesla bulls will tell you they do as well, quoted ka kathy woodsr example, when they go to the autonomy upgrade what it means for the value of the automobile >> and the question of whether he views smaller chinese rivals as a threat, at least on price, and clearly annoyed at george sor soros. >> i can tell you this, george soros one of his friends i don't know if he knows what a tesla is let alone has anything to do with selling the stock he doesn't sell or buy stocks. hasn't done that in a really long time. >> i love when he said, i'm not anti-semitic i'm pro-semitic. >> pro-semite. >> yeah. >> it was interesting. >> a good line. >> it was a good line. >> turning to target eager to hear what musk has to say about a.i. but let's hit target the company beat on earnings expectations amid a slow down in sales. comp store sales flat for the fiscal first quarter sticking with the previous full year guidance, though the q2 guidance is what disappointed some on wall street. interesting to see the stock up given what target said about the quarter. i had a

but future focus fund manager kathy wood missing out on some of the big games her etf closed out itst would be the check the box ai company because its valuation at the time was very high. and cnbc has learned that jpmorgan chase is developing a chatgpt-like software service to choose investments for customers. according to a filing, the service will tap cloud computing software using ampt ii to selec securities and fda has approved first clinical trial in humans for a neuralink. they are not yet recruiting for the trial. >>> and negotiations appear to be making some progress towards a debt ceiling deal in washington kayla tausche has been working the phones any new news >> it is an around the clock effort and we know negotiators are moving closer to a deal to cap federal spending to two years in exchange for lifting the debt ceiling for one to two years. but kevin mccarthy notes that no deal has been reached and some republican aides have suggested that big items like that overall top line number for spending are still outstanding. that is a key issue. the budget cuts would spare th

nvidia, also kathy would -- annmarie: -- annmarie: --cathie wood joins us. let's start with the macro picture. you know what is weighing over this, the debt ceiling debacle. there is hope. volume thinner of the memorial weekend. the two year yield seeing a reversal, eight basis points. macro data coming in showing the federal reserve needs to tamp down on the pce data they look at. bitcoin managing to get a bid. let's get the latest on the debt ceiling negotiations. is it going to be a busy weekend for you? joe: it will be a working weekend for someone. staffers will have to work the weekend to write registration. we are talking top line appoints going into a potential deal and that would start the clock ticking. folks i talked to over the course of the week on capitol hill were hoping democrats and republicans would have something done before the weekend so investors wouldn't have fear going into the long weekend and it is unclear if that is going to happen. it is interesting, some of the more significant budget cuts that have been demanded by republicans a

kathy chao. summer ferrer. ella fox. martins. ricard. o'hara. meal a day. essence. stefan. maisy wilcher gordon and liz wood.please look for their bylines. if you an assigning editor, please hire them. and now is my delight and my honor. welcome the amazing maris kreizman vp of awards to this evening's program. thank you so much. clean up the board this year. i mean, after tonight. so thank you for all. see and thank. so i get to tell you all the fun stuff. there is a reception at 63/5 avenue just up street on 12th. around and around the. and tickets can be purchased at the door. if you don't have them already. so please come celebrate with us. even more fun if your name is called tonight because you've won an award. please use either the staircases to come on stage and accept the award and give a brief speech. if you so choose. we won't play you off like it's the oscars, but we would love to get out of here by eight. so just keep that in mind. the recipients of awards for which we've already announced winners will get to take home a plaque tonight. all of the others that we voted on today will be sent to wi