we work extensively with nvidia to bring a.i.ses and what they of all people understand is that the bar for a.i. and the enterprise is a lot higher than that with consumers. it has to be reliable. that's what we are working on getting. >> understood. now there was a talk when you took over. there was also a bit of a guide down. >> yeah. >> it was weird because you had an exceptionally strong bookings quarter. i was a little confused. it did seem there are some headwinds. it also seemed like bookings were good, we were concerned about maybe where people kept their information. they moved it from you to back to aws. i kind of want to clarify all these things because the last thing that happened was basically numbers go down and yet maybe business is good since you've taken over and i shouldn't extrapolate what happened last quarter. >> well, let's get into that. >> okay, good. >> as you point out, we had a monster quarter. our revenue growth, the consumption model, was very, very strong, mid-30s growth, our rpo, top people committe

nvidia creates time. nvidia eliminates waste. nvidia invents knowledge that hasn't been invented yet and isn't or can't be invented by humans because they are too slow, cost too much or just aren't smart enough. and in return to be pedestrian, it makes a ton of money because as an effective monopoly on all those outcomes, if you want to create wealth in the stock market, sometimes you need to make a leap of faith you're getting it right with jensen because you have to, otherwise you won't see it coming whatever the heck it is. let's just say i think a.i.'s bigger than the loom or the steam engine or the jet engine or mainframe perhaps all rolled in one. everything digital runs too slowly in comparison to what nvidia can do. it amounts to nothing more than a giant do-over of everything we have connected to something else digitally. you just have to hope that there are enough companies that realize they need nvidia to be better in the o.r. this trade show and it is a trade show, this exhibition is about showing you the needs you ha

he is at nvidia's gtc. he's going to have a live and exclusive -- it's both -- live and exclusive interview with jensen huang. that will be in the next hour. of course, we or very much looking forward to it. a half hour from now we get started with trading. let's give you a quick look at futures. we are in the red. so perhaps a lower open when we begin trading. it starts with nvidia's potential ai game-changer. the company unveiling its latest, more powerful artificial intelligence chips which ceo jensen huang says are twice as powerful for training ai models that the current gpus. the fed's march meeting kicking off today. the bank of japan raising interest rates. no longer are they negative in that country. and why elon musk thinks investors should want to keep taking ketamine, saying it's beneficial for tesla. >>> we start with nvidia and the company's new ai chip lineup. there's jim. i throw it over to you. give me the highlights. you're about an hour or so from sitting down with jensen huang. jim, what

navigating nvidia's fall. what this move means that we an l ask -- ask tony what that a reddit ipo coming up, too. you are watching closing bell on cnbc. [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] ♪(serene music)♪ medical discovery is like finding the right stone. ♪(stone skips on the lake)♪ and watching your discovery inspire further discoveries. ♪(string section building up)♪ dana-farber's momentum of discovery has changed cancer treatment everywhere. people aren't just living with cancer. they're living beyond it. ♪(orchestral music)♪ ♪(soft jingle)♪ my name is oluseyi ♪(orchestral music)♪ and some of my favo

nvidia is the number two holding. amazon, nvidia and alphabet below there. rotating underneath the waters and getting myself in a good position. a week from now or a year from now, i'm in a rotated position. that's what i'm trying to do for myself. >> you bought more southern copper. tell me about that. >> yes. southern copper is breaking out today. this is a tremendous move. it's been a good-sized holding. this is another add for us after confirmation of the breakout. china has decided to cut their production so the refined product will be less applied. not enough supply of the raw material. what i really enjoyed from the price of copper itself, this was not a play. the best pure play on copper, their free cash flow is elevated. so down from its peak, it's more than doubled since 2019, and they're calling for free cash flow to pick up another 10% as you look out to 2025 and 2026. it's probably one of the best run mining companies in the entire state. >> and up bought phillips 66. >> marathon petroleum has hung around our top ten for a while. marathon petrol

that is followed by linde and nvidi nvidia. we will talk more about that in the show. >>> and we start off in europe here. europe in the red across the board. ftse 100 is lower. a bit of a mixed session in asia with japan closing more than 2% lower and the country avoided a technical recession in the final three months of 2023. possibly paving the way to begin raising rates. something we talked about on the show. over in china, the hang seng and shanghai composite higher. >>> we stick with the overseas action. gina raimondo is leading the delegation. her first stop is the philippines which has clashed with beijing. eunice yoon is joining us from manila with more on the story. eunice. >> reporter: thanks, frank. the secretary just wrapped a press conference at the hotel behind me. earlier today, gina raimondo met with the president as well as the top economics and trade secretaries. she is here to promote the biden administration's foreign policy to solidify the american influence in the area and supply chains. she had said with

nvidia says it's expanding its... be - everybody. nvidia says it's expanding its...g electric vehicle manufacturer. it will use nvidia's next generation in vehicle chips, its rivals will also use the product. evergrande group's founder has been barred from china's securities market. regulators have accused the group's flagship unit of securities fraud, failing to make timely disclosures, and inflating its earnings by around 80 billion dollars. hui ka yan was once asia's second—richest man and in charge of one of china's biggest real estate developers. but last september, evergrande said its founder was being investigated over suspected crimes. british tech entrepreneur mike lynch is appearing in court in the us as his trial on fraud charges gets under way. once referred to as "britain's bill gates," mr lynch is accused of overinflating the value of his software firm autonomy when he sold it to hewlett—packard in 2011. ——over in asia, the bank of japan will wrap up its two—day policy meeting today. there's a lot of expectation from analysts that the central bank will

well, tell me where nvidia is going to go from here if nvidia, which was up 5% and is now down nearly 5%, that's a 10% swing in one day, if nvidia is going to deteriorate further and drop another 15% or 20%, no, this market is going to have a really difficult time finding other areas of the market to carry the strength that nvidia was carrying. >> that's a crazy slide, a 10% swing in the span of three hours? >> it's a friday. >> on no news. >> it's a friday. options expiration. >> the market might just kind of sit here for a while if tech takes a breather. tech and comp services, it's 35% of the s&p 500. so if it falters, then the market probably will have a tough time going materially higher. you do have -- you are seeing a broadening -- jason, you mentioned this, in energy, in materials, in industrials. industrials are worrying me in that everybody now likes it. we own it. i know you're overweight it, i'm overweight it. i'm not selling it, but it bothers me it's more popular. financials are catching a limb bit. maybe the overall market doesn't go a lot higher, but i think you can st

i of nvidia has actually fallen by about 1.5%.— of nvidia has actually fallen by about 1.5%.. i noticed that, stock was sold _ by about 1.5%. i noticed that, stock was sold on _ by about 1.5%. i noticed that, stock was sold on the - by about 1.5%. i noticed that, stock was sold on the news . by about 1.5%. i noticed that, | stock was sold on the news as it were, bought on the rumour, but interestingly, the suppliers, the companies it is working with to make this happen, their stocks went up, not surprisingly. what about its rivals? what do they make of thishow will they try and keep up with nvidia? 50. of thishow will they try and keep up with nvidia? so, the main rival — keep up with nvidia? so, the main rival would _ keep up with nvidia? so, the main rivalwould be - keep up with nvidia? so, the| main rival would be advanced micro devices, these companies have been making progress on their ai chips. we can expect more unveiling of new products from competitors very soon, i suspect. and i think in general, industry still thinks nvidia is a couple of generations ahead of its c

the next time you hear someone announce a chip that is 10 times faster than in nvidia, a year later nvidiaill also have a chip 10 times faster. alternatives to nvidia can have an advantage that last at best one generation and a year later the advantage goes away. last but not least, this advantage often comes at a cost. first giving up on the flexibility that gpus offer and the customer not able to leverage the ecosystem. yes, it lives up. ed: there was a lot more emphasis on inference then there has been historically. the story was around the role h100 played in training fling which models with tens or hundreds of billions of parameters. are you convinced if we are in a world will remove from more training to more inference nvidia continues to lead in that side of the market as well? antoine: yes, i think so. i think jensen demonstrated that well. inference is a complex problem that involves very complex optimization. you have a workload across dozens of gpu's. i think what jensen showed yesterday is that nvidia's mode is about being able to optimize gpu's to solve the complex problem eff

if you want to see what nvidia tech can do for your company's work flow, you call service now, not nvidia believer in ceo bill mcdermott. who's next you don't hear much about it, but tesla, elon musk wants to build his own super computer, i know musk would prefer to build everything ai related by himself, but it's more efficient to buy from nvidia because nvidia is so far ahead for autos away from tesla, jensen is excited about his relationship with anson, outside of pittsburgh. it's being acquired by its long-time software partner synopsys i think it's going to become the one to watch cadence design system, a partner for using nvidia to help its clients in pharma. both stocks have been unbelievable performers. when it comes to the giant hyperscalers like amazon, nvidia is switzerland, they're neutral. you saw prominent quotes from sin dar pin chai, i'm not tech savvy enough to differentiate which one's better for the nvidia suite they're both fabulous partners oracle makes a strong statement. oracle is trying to billed as many data centers as they can. same goes for meta platforms i was

these are not nvidia's markets.nd so, if things are moving that fast and the direction they're headed is far more efficient models, it's very hard to have visibility two years out for this company. >> to build a large language model that operates on a simpler, less nvidia dependent chip structure? >> exactly. in fact, it's probably going to run on our device, hand set or pc where nvidia market share is far lower and the cost of the chips is far lower. and that's where we're really going to get the interesting tools. we talked about apple, the distance between us and where we are with apple and apple having a full-on snassistant on our phe is to ability to do on the hand set. that's where the technology is headed. nvidia's role in that world is much smaller. >> is that where you see the decline stemming from, macro economic forces, like a potential recession, it's purely this competition idea? >> it's purely talking to their customers. if you listen to their customers, they'll tell you we're going to buy as many gpus

cofounder and ceo of nvidia.purred on an industrial revolution and created value for shareholders, nvidia of is up more than 30,000% since the first time he came on the show. you want to learn everything you can. here's part two of our conversation with the man of the hour, jensen long. >> jensen, 8 billion people did not get a degree in computer science. what are you doing to democratize this world? >> we are going to make computers smarter so that they don't have to learn computer science to program a computer. the computer should understand what we want and what we intend. >> please help me build a factory that can make the best cars. it can do that? >> it surely will help a lot and the reason for that is because you give it a plan, you tell it what parts you would like to put into it, eventually, this factory will be a robot that is orchestrating a bunch of manufacturing robots that are building cars that are going to be robotic. >> why do robots look like people? >> well, robots look like people because a co

the incredible run to nvidia taking a breather. we have jeremy siegel, professor of finance at the wharton school. we have a lot to talk about, professor, great to have you on this friday. you will walk away to the weekend thinking what about this rally? >> when you have trading stocks , momentum stocks, there is a very old saying in wall street, it is up the staircase, down the elevator. if you take a look at nvidia, and other training stocks, that is what happens. momentum players move on, they have very tight stops on it, as long as it is going up, when it breaks the trendline, they are out. we have a one day reversal, new high, then low. my experience is that is rarely the final high for the stock. you have a couple days mixing on the price and it will resume the upward course. this is something i have seen many times before. that does not scare me. >> the elevator goes down another floor or two but you get back on the escalator and go up? >> yes, exactly right. like a head fake. playing the momentum, it requires steel, when it

. >> nvidia down 2%. you have supermicro, big air pocket. the rest of the market managing to make up the difference. the russell 2000 positive. supermicro is big. bond yields also slightly easing lower versus their gains in recent days. >> which is helpful, but, also, they've been up for six days in a row and that didn't seem to faze the market either. an exciting fed meeting, as it always is, as we look ahead this afternoon into tomorrow. now courtney reagan and "the halftime report." >>> thank you, sara and mike. welcome to "the halftime report." i am courtney reagan in today for scott wapner. front and center this hour, the state of tech trade with nvidia's developer conference under way, and a critical fed decision hitting the tape 24 hours from now. our investment committee is standing by to break down what's at stake for your money. joining me for the hour today josh brown, shannon saccocia and jim lebenthal. let's give you a quick check on the markets here. we're about at session highs with the dow jones industrials up about half a pe

no, that's nvidia. watch my special interview with jensen huang, the ceo of nvidia, if you want to know my other own it not traded stock. no, i stay own apple, don't trade it, because it's the most innovative consumer product technology company ever. technology company. creating things we know and love. and trust. with the highest customer satisfaction rate of any business on earth. apple never makes anything unless it's as perfect as it can be made. i say own it, don't trade it, because the phone represents an actual great bargain. something you can get with a telephone line that's subsidized by the carriers, so you barely even know the cost. and if you can't pay that, you can buy one used, which is often as good as new. why? because it's apple. i say own it, don't trade it because they care about my privacy and protect it better than any other company on earth, to say nothing about uncle sam, which i don't when i consider this lawsuit, get whether they try to protect our privacy at all. i say own it,

look at nvidia you have to know your technicals in nvidia, the low last week was 834, the low this morning is 841. so that's a support area. but the technicals are going to be in control for the next several weeks and the ntechnicas don't set up well. what you're also witnessing you don't see a lot of broadening out with momentum. overnight japan broke down. have we seen crypto break down? that's arguably the hottest area of momentum in the market right now. so i think there's more to go in cooling off this white hot momentum that we've had so far year to date and i just urge the viewers to understand that the process of correcting momentum is technically oriented. that's a dangerous place to be when you don't have fundamentals. >> this market, for all of the momentu momentum/froth/exuberance/ euphoria has had the ability to self-correct without falling apart. spacs corrected, nfts corrected. all this other nonsense self-corrected so maybe you have the momentum names ahead of themselves. but you have the rotation. money coming out of nvidia maybe it's finding a home in apple or maybe findi

nvidia shares now swinging to the upside.y were down solidly earlier today on the heels of blackwell, their new ai chip. advanced microis down 4.5%. but super micro down 9%. they'll issue more shares. c3 ai, a couple of other ai names. watch that technology trade. an interesting reversal for nvidia right now. we'll see if it sticks. >> dom, we can't help but watch nvidia. for a moment, we'll talk about the fed's decision on interest rates in just about 24 hours away. we start with steve liesman and the latest results from the cnbc fed survey. steve? >> respondents to the survey for march seeing slower growth than last year, but showing more confidence in the soft landing, and less concern, of course, about a recession than we have seen in the past two years. take a look, the recession problem bit has declined to 32%, the lowest since february 2022. well down from the high of 63% in november 2022. the problem with the soft landing is that 52%, up from 47% in the january survey, and 40% in july. here are the numbers. gdp, 1.61%

tell us how nvidia are keeping ahead of the competition.hey seem to be the market leader at the moment. one of the interesting things about blackwell, on one hand you can say it is the next generation chip and technically it is but what is interesting about what is happening with it in the world of generative ai is that many of the earlier chips that were being used for generative al was designed well before most people knew what generative al was. blackwell is arguably the first generation of chip that was designed in this gen ai era so they knew what they were doing. and there are a number of elements there that in some cases you want 4x or 5x improvements in performance versus previous generations. so they have done a number of things internally within the chip that allow them to access a bigger large language models and do twice as many calculations. and that is all by refinements within the architecture. who are their biggest rivals? can they keep pace? the biggest competitor is amd and to some degree intel but the other thing is that

let me tell you nvidia did not disappoint. like julius caesar, they came, they saw, they conquered but remember the roman empire didn't last forever. i have want to bring in io analyst, beth kindig. there is a ton of stuff to unpack. we don't have time to do it all. i want to sort of cut straight to the chase, this blackwell cpu, a billion transition terse. 30 times for performance with generative a.i., 25% less energy. sounds almost too good to be a true. >> hi, charles. blackwell is another reminder that nvidia is the world's best gpu company and what's most important about blackwell it improves 2 x on trading but 5-x on inference. amd's chip is geared entirely towards inference. nvidia had toe respond to that the other key point of blackwell it drives down the total cost of ownership. by doing so it creates motivation for the big tech companies replace the hopper architecture, h-100 that created gains this year with the bracwell. they have to create that motivation. they're driving down total cost of ownership. all of those

and begin with nvidia. the chip standout developer's event getting under way on monday. new product launches including a possible gpu for the chinese market and other updates that could sustain its massive run. having a bumpy ride posting a small loss today up slightly since monday. for more on what to expect let's get to kristina partsinevelos. >> godfather of a.i. will take the stage. first event in five years with over 16,000 attendees flying in for two days. every hotel in the city is sold out for miles. trust me, i can attest to that. the share have been up 80% in the last three months alone. the stock moved over 2%. eight out of the last ten trading session, even without any news as a catalyst. someone has to wonder how much is already priced into the stock and what more can the company and ceo say over two hours to excite investors? well, there's three themes that could do just that. the product road map for their plaquewell a.i. chip, how good can the memory for that? will it outperform amd? when wi

nvidia has been a hot — nvidia, talk us through. hot commodity _ nvidia, talk us through. nvidia has been a hot commodity for- nvidia, talk us through. nvidia has been a hot commodity for a - nvidia, talk us through. nvidia has been a hot commodity for a while l nvidia, talk us through. nvidia has . been a hot commodity for a while now because it controls about 80% of the advanced ai chip melqart, the campaigns and processes needed to develop and capitalise on this ai technology will talk so much about and we see on everything from gaming robotics and retail and health care and more. this spike is on the heels of the blockbuster earnings report and it showed sales tripled compared to e a year ago and it feels like nvidia has been racking up the headlines here. it market value came around the $2 trillion mark on friday. around the $2 trillion mark on frida . �* .., , , around the $2 trillion mark on frida. �* , , ~' around the $2 trillion mark on frida. �* , , ~ , friday. bitcoin seems like it is back. pushing _ friday. bitcoin seems

at the likes of nvidia and other tech stocks dropping, nvidia down by 5%. we have got valuation sitting around the two decade high, a bit of profit-taking coming into it, brother uncertainty for the direction of markets, but you see the weakness coming through for tech stocks far. softbank down more than 4% at this point and that is the biggest decline since november. there is another name we are tracking and this is one moving to the upside, the japanese pharma company eisai. eli lilly, a competitive company listed in the u.s., it's alzheimer's disease drug is facing further delays in gaining u.s. approvals. regulators want to hold a hearing to see how safe that therapy is, so this is a negative overall for dementia pavements -- payments, but eisai is getting on the back of the delay for its competitor eli lilly. that is one of the other stocks we are focusing on. haidi: i have it expects of the fed and the ecb to start cutting rates in june. we will be headed back to beijing as china's national people's congress draws to a close today with a fresh growth

tell us how nvidia are keeping ahead of the competition.hey seem to be the market leader at the moment. the market leader at the moment-— the market leader at the moment. ., , moment. one of the interesting thins moment. one of the interesting things about — moment. one of the interesting things about blackwell, - moment. one of the interesting things about blackwell, on - moment. one of the interesting things about blackwell, on one | things about blackwell, on one hand you can say it is the next generation chip and technically it is but what is interesting about what is happening with it in the world of generative ai is that many of the earlier chips that were being used for generative ai chips that were being used for generative al was designed well before most people knew what generative ai before most people knew what generative al was. blackwell is arguably the first generation of chip that was designed in this gen ai era so they knew what they were doing. and there are a number of elements there that in some cases you want forex or f

nvidia shares up pretty small, especially for nvidia.in the next hour. you see it up less than 1%. while treasury yields pushed to three-month highs as suspense builds over a fed meeting that comes after an uptick in inflation that stoked more uncertainty over the outlook for rate cuts, 4.35 on the ten-year. th

it's been nvidia and meta. the other names haven't contributed, tesla's down, apple's down, google's down. they haven't been doing any lifting. if you take them out, can the market move higher? it could move higher. it's going to be a lot more of a slog, because you have xlv, which is your health care, that's up 8%. and then you have industrials which are up 8%. they're smaller on a percentage weighting of the overall market. it's going to be a tough load to lift. >> if you look at the rest of the mark, it is rallying, and i would argue that over the last three days, it's the semiconductor space. semi semis are up 30%. that they've outperformed as a group. to me it's all about semis. but what are we talking? we're talking about banks over the last three weeks. we're talking about retail. we're talking about health care, other parts of the market that were in bear markets. we're talking about where were banks last july, august, last summer, and all the dynamics. you can make an argument we have the same economy,

i wove in nvidia, we're contractually obligated to say nvidia in every segment. i got that in. >> it was like crochet. you were weaving in nvidia and environment and all kinds of things and that's not all. you'll be back tomorrow with the ceo of slb, the company formerly known as schlumberger it will be at 1:00 p.m. eastern on "the exchange." google might be the king of digital ads, but meta is coming for the throat. those shares are up 40% so far this year, but he's going to tell us why he still sees meta climbing another 25% from here. plus home builder sentiment turning positive for the first time in nearly a year, but affordability remains a headwind. later on, we will get a c suite view from one real estate developer. "the exchange" is back after this. >>> this is "the exchange" on cnbc. welcome to ameriprise. i'm sam morrison. my brother max recommended you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. beca

they also allege in that lawsuit against nvidia that nvidia knowingly used this data set and infringedyright and they are also seeking a class action lawsuit to allow other affected writers to join the legal battle against nvidia because, at the end of the day, they see that they are not being benefiting through how nvidia is going to be using in producing these models and not getting any cut or share from the business that they will be getting from here. given that al is so new, there's no legal precedence for this sort of claim, is there? not at all. and that is actually the real problem and that's why now nvidia is also joining that whole long list of ai companies, because there is no legal precedence, we do not know how — with the way ai technologies are quickly involving — we do not know what copyright law looks like. that's why all of these lawsuits that are coming against nvidia, openai, microsoft — it's so crucial because it is going to define what the copyright laws look like. it's going to have quite a lot of implications, especially for the media industry because now we will

nvidia has the lead at this point. you two are nvidia holders, so, what is your take? at what point do you start getting concerned that that competition is actually real, and that share will actually -- i mean, shares already going away from nvidia. it's still dominant share at this point. >> true. i think this is a situation where the pie is growing tremendously, right? there's room. i remember early on in amazon's cloud business, thinking, well, eventually there will be competition. okay, so, that was years ago now, and the cloud business has just continued to grow and accelerated at various points. so, i don't think there will be no competition. i think there will. i'm sort of more curious about, all right, they have all these imbedded h-100 gpus, which were from $40,000, some of them. what are those worth now? i'm wondering, if you are meta, and you own $8 billion of these, if you mark those down, what happens to that? i don't know. do they -- i'm curious what happens to that, before they get to -- now, these may be wildly more efficient, i'm confused also by that

when they spend that, it goes toward nvidia.e the stock with the incredible returns in the past year. the critical question and what i was interested in during the keynote was you get the perception of what the metaverse could be used for and how it is used across multiple industries and you use the computational power. last year, it was about figuring out a way to pass the gmat and lsat exams. to see it working in industries and proving factories and connecting over to robotics and health care, this is where, i think we thneed to go to have t companies spend tens of billions. >> if this is what it is needed to make the metaverse make sense, minds will be blown. jensen huang talked about the big three. microsoft, alphabet and amazon will offer blackwell through cloud services. those are part of thing magnificent seven. does this cement the idea you want to be in the magnificent seven names for the a.i. trade in does it create a new leg of the a.i. trade? we are showing the other companies. i ibm and oracle as well. >> it is nota

what is the ceiling for nvidia.ntinue to grow at this pace can it. >> yeah that's that's a great question. it's an open ended question as we see the market, e optimistic. that said, in terms of innovation, there are usually ceilings and in terms of what we can get with any particular breakthrough like we're seeing now with large language models, also have ceilings, and so i think that kind of will naturally reduce the growth. that doesn't has to come down oa bubble, it self-regulate as the market continues. okay. >> so i want to get back the ree done, in particular when jobs, because are there certain industries, certain sectors that spyou think will be effective, >> yeah, absolutely, the thantm applications of machine learning, computer vision, natural language processing, which we commonly think of as artificial intelligence, can look quite different in different industries. so as i mentioned overall on aggregate. so looking at the whole economy, they're actuallyc of jobs as well as jobs in specific sectors, those

that's well beyond nvidia. there's your chart. you have gone virtually one way whether nvidia, amd. i could go down the list of things that make up that index. >> what i think is interesting about the 70 moving away from a pure ai plus story within that group is i think it's a great example of different parts of the market that have been following different cycles. you actually had quite a recession within semiconductors earlier before november of last year and you had a lot in those companies and you're now starting to see recovery and semiconductor production and sales. not to use ai related but more related to computers and cell phones and electronics more broadly. i think that's a great example of what's been working the past four months, but we can't forget words come from which was a very painful cycle of four. >> keith, give me a comment. >> they are extended. they are right for a little bit of a correction but you have to be somewhat positive on semis because semis lead. i think the cooling-off phase, but if you have six or 12 months stick with that underlying trend. we can'

i said that back when it was nvidia torrential and all you needed to know. >> nvidia is, what, 10% off the highs? >> just 10% off the sky scraping highs that we got to in a $2 trillion plus market cap. >> what does powell say about the recent mini spurt of inflation we've got for january and february. have a good weekend. happy st. patrick's day. thank you, mike. >>> now over to courtney reagan and "the halftime report." >>> thank you, sara and mike. welcome to "the halftime report." i am courtney reagan in for scott wapner. front and center this hour, is the tech trade tired? i know i am. the sector leading the s&p 500 to the down side today driven by two big earnings disappointments. as the nasdaq turns negative, the investment committee tackles that question and a lot more. joining me for the hour steve weiss, brenda vingiella and rob sechan. let's give you a check on the markets at about 12:00 on the east coast. the dow jones industrials is doing the best of the major three averages but down 0.4% and the nasdaq, that tech trade that is the laggard, down about 1% at this point and,

we know that nvidia will segment the market as well, so we just think a lot of the assumptions for nvidia this is nvidia's market alone, those are changing. tom: cathie wood speaking to carol massar. talking of the likes of nvidia, let's check in on the magnificent seven, because something has happened here today that i started to evolve data raises questions as to whether or not we should ditch the magnificent seven and make the magnificent five or four. you are seeing gains coming through from nvidia, that stock year-to-date is up 80%. tesla has slipped year-to-date by 30%. concerns of course are around the demand for electric vehicles, concerned about competition coming through from ev's out of china, concerns about the consumer starting to worry about the push around ev's and whether or not they want an engine to get that drive. apple down your to date around 12%. the china story is a drag as well, expectations have not come to pass. whether or not you carveout apple and as a comic is that a story that sustains itself or is there a turnaround in the narrative, because when out there i

nvidia turning lower. we are down 3% on nvidia.e eye of volatility as we take a look at the weekend and see profit-taking. from new york and san francisco, this is "bloomberg technology." ♪ xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. caroline: bloomberg just hosted its international women's day celebration in san francisco and highlighted the philanthropic work the organization does. i had the chance to sit down with the hub spot ceo on her thoughts about how she approaches running her business, ai integration, and diverse leadership. take a listen. >> our leadership team is 50% women and our board is 60% women and people of color. our entire leadership team is 49% women. caroline: do think that is accidental? you have been purposeful finding those people? >> is intentional. i started in the mid-1990's. it did not look like this. what we have thought about, diversity is not an initiative, it is not an annual program, it just needs to be built into the dna of the company. why? we build products to ser

then you talked a lot about nvidia today.ay to people look the option market's telling us between now and friday you should see nvidia with about a 9% lose. people have to take that into account in terms of what are they willing to stomach risk-wise, and the other thing is those 900 calls trading, you know, pre-market now just above 900. something we saw many speculating on last week buying those calls. now, end of the week e, 31 dollars, so, i guess break even low, sell it sooner obviously or continue higher. interesting how the stock's going right above that mark. >> okay. jj out of time, but, thank you. >> all right. have a great week. >> talk to you again soon. happy belated st. patrick's day. >> same to you. hope you had a great day. >> thank you. >>> and now got a guy named mccarthy! he's going to join us. kevin mccarthy. he may have pondered or -- that -- holiday yesterday. probably hit home a little bit with kevin mccarthy. talk spending, the balance of power in washington and the campaign in 2024. stay tedun. you're

>> yeah, i think it's important to realize that nvidia ooh -- nvidia's more than a chip company.ting has given way to accelerated computing which is really what they've been doing, and we have things like moore's law that used to talk about how fast computing was moving and how fast you could double compute. what's happening right now is jensen's getting to 1000x if every 8 or years in the accelerated computing market. stuart: fell -- tell me more about the chip that he introduced yesterday. i've seen the video. best -- it's bigger than a regular chip and 30 times faster. does that keep nvidia ahead of the competition for a long time to come? >> it looks like they're going to be ahead for quite some time. the blackwell platform actually is a series of chips named blackwell that they've putting together that a allows you to swap out the old chips, put the new chips in and actually connect them all together like lego blocks which means you can create one super gpu with smaller gpus along the way, it and acts like one chip which is an innovation in this market overall a. and that's

nvidia is going in a similar direction. it's taken the market by storm in a way that's making me say you don't necessarily want to be sitting out of this market waiting on it to start raining. so i think maybe it's the time to be looking at sectors of the market that you feel are strong and dare i say maybe even recession proof like potentially cybersecurity, that's one that i love, that i feel like cybersecurity spending for at least large enterprises and government agencies is nondiscretionary at this point, right. so maybe we got a little bit of conflicting data out of palo alto and crowd strike, one having the time of their lives and the other telling us to prepare for a storm. i think cybersecurity is a place that you could go that irrespective of what direction the market decides to move, by the end of this year it's probably going to hold up pretty well. >> not specifically cybersecurity, but software in general is under a lot of pressure today. that adobe softer guidance has been an issue. you are seeing things like

hsbc raising the price target on nvidia to $1,050. nvidia is not just defending in the a.i. space, but on the attack with the 2025 road map. shares are up 2.23% in the early trade. jim cramer will speak with nvidia founder and c, o jensen huang tomorrow. >>> another price target hike from bank of america on taiwan semi. bumping it to $155 per share. it calls the company a key enabler of a.i. with the long lasting industry leadership. shares up 1.8% in the extended trade. >>> morgan it stanley upgrading pepsi to a buy after pepsi bottoms in the first quarter. shares up 1.7%. >>> let's get to the global briefing. goldman sachs changing the monetary policy forecast for the bank of japan. since joining this program last week, the bank now expects the boj to hike rates when the meeting wraps tomorrow due to stronger than expected ed sala gains. >>> in china, output grew 7% in january and february. this beat the expectation of 5%. >>> shares of xpeng moving higher. the ev maker is planning to launch a cheaper brand as it looks at price competition in the industry. it is expected t

we have nvidia.e -- this is what's dominating the equity market and counter acting some of the potential trepidation that you might see in firmer inflation and higher treasury yields. the only other chart i wanted to show is what's happened with commodities, quiet rally. we haven't talked about very much, but in the last few weeks or so, you know oil prices are up. >> yep. >> gasoline prices, cattle prices, orange juice prices, cocoa is another can of worms. copper. they've come off the lows that be saw sort of toward the end of the last year. it's not a crazy surge but worth watching because this feeds into the real economy and into inflation. >> speaking of ai, we have a big story the market's digesting. shares of alphabet up almost 6%. this follows reports the company is in talks with apple that would have its gemini ai engine, alphabet's, nin apple's iphones. steve joins us now to give us context on the story that everybody is trying to grapple with so far. >> this is a surprising one. the report

nvidia is still at the center of the universe, and as goes nvidia will go the market.t's interesting, because jensen huaug has more impact on the market, and it speaks towards the market is able to overcome some of the friction and inflation and treasury market because it sees the opportunity and the revenue growth in the ai story. >> the impact on tech, like semiconductors, since the launch of chatgpt last year or in the early part of 2023, semiconductors outperformed the s&p 500. >> i think we have run out of adjectives for nvidia, and i think about datacenter growth and it has quad gtkpwau wyear or year. are we going into 2026, because we know what the price action has been over the last year and a half. that will be a question. we have seen those cycles in the semiconductor space before, and nobody would debate what is going on in the short-term, but how much have we priced in. >> what concerns you about the stock, if anything? >> well, the valuation. i think they will grow into it, in terms of what we saw today, the stock was up 35 points at one point, which is no

because of nvidia. so you have this positive ping-pong effect that goes back and forth, and it's ridiculous. that's a feeding frenzy. feeding frenzies don't typically end well. however, i still believe momentum is there because you have a new -- and i've said this for the last year and a half, two years, a new type of investor in the market that goes to what they know, that goes to what is sexy what is hot. >> right. >> it's more of a rational play for gamestop. that clown car is out of the market. now it's looking at fundamentals and the fundamentals with the unknown expert, who is not as expert as jim and i, by the way, right, jim? >> jim gave you a wink. i don't know if you saw it. speaking of investors, that's what you're doing right now, i think you might be talking about yourself. to our "chart of the day" talking about dell following big quarterly earnings fueled by ai server demand. weiss, you already front run us on this, what are you looking at? >> so here is what's bizarre. look, they had a g

know why nvidia got 4.5%. i don't know why taiwan semi is doing the same thing as nvidia every day, and that doesn't surprise me, because taiwan semi is arguably -- >> i want to make one really important point. two stocks today driving this action, at one point, taiwan semi was up 5%. they make 90% of the high-end gpus on the planet, so does nvidia. nvidia different -- we know they have four customers that make up 50% of the revenue. what i'm saying is, it's -- it's one of those russian dolls, in a way, you know what i'm saying? >> super concentrated. >> it doesn't end well. that's it. so, the bubble can keep inflating, it can keep going, but i look at supermicro, which is up 1,000% in a year. it just got added to the s and p 500. here is a company that has 15% gross margins. so, on the other hand, talking about nvidia, really excited about, because they just got into the 77% and that justifies that sort of thing. this is going into the s&p 500. with a $60 billion market cap and it's gone up like this, you see

case in point nvidia. topping $900 today, a new all-time high, the first time that stock has been over $900 a share. $917 is where it is now. that's a 3% gainer. any drop in this stock is quickly scooped up, and that's the lesson of what we're learning around nvidia. >> yeah, i think if you're long the name. the only thing to really do, what i've been trying to do is make sure the position doesn't get too big, that it swamps and a get out of the way situation. i don't know why you would want to fight with this thing. people have this thing where whatever is going on and making people money, something must be wrong and there are, it has to be red. i've never seen anyone do it successfully. understand what's going on is once-in-a-lifetime, appreciate it and manage the position. so far so good, no complaints. >> trying to take it from $1,000 to $850. when you eclipse one target you bump yours up. brian belski, you're trimming this, almost sounds gratuitous, to be honest with you. you suggest it's tiny, tiny,

nvidia is a work in progress. >> nvidia -- the next nvidia is nvidia. >> thank you. >> super micro, notoing to fit the bill? >> super micro is a rack company. just go buy dell. dell is better. super micro -- >> even though dell, on friday -- >> the s&p is adding supermicroto the list. i had them on. i said to my kids, was supermicro not good enough? >> it is a ten bagger this year, not bad. >> goldman initiates neutral. >> i think that was a good call on the additive to the s&p, taking out whirlpool, by the way. >> bigger than three dow names. >> 3m -- well, the usual gang of idiots in terms of the ones that -- i don't mean that. 3m is great. my father worked for 3m, for heaven's sake. my problem with the supermicro is that this is a super-charged nvidia, and it has been expensive where if you look back at the old, then boom. if you want the cheaper ones, broadcom reports later this week. that's one that is not juiced. and that's hock tan. >> and you think it's still in the center of this overall -- >> it's broadcom, it's dell, maybe marvell, which reports this week. it's lisa su at amd

nvidia is the latest company to be drawn into a growing body of litigation with three authors in theip makerfor using their books to train its nemo ai platform without their permission, according to the three authors. the new york times has also sued openai and microsoft for using its articles to train their language models. nikita roy is programme lead for the aijournalism lab at the city university of new york. she gave us a sense of how these lawsuits could impact the development of ai. these authors are alleging that nvidia used their intellectual property because, as a result, they should be compensated for this. they also allege that nvidia knowingly used the data and infringed on copyright and seeking a class action lawsuit to allow other affected writers to join the lega lbattle against nvidia because they see that they are not benefiting through how nvidia is going to be using in producing these models and not getting any cut or share from the business that they will be getting from here. given that al is so new, there's no legal precedence, is there , there is no? exactly.

what do you make of the nvidia story?e big headline is this blackwell chip which is five times as powerful as their hopper series. which is catapults them back into the lead or leaves everyone else in the dust as it comes to these gpus or graphic processing units that are needed to put together the computing power to use j generative a.i. the other thing that's not talked about enough, they want to transform themselves into a platform company. similar to the way that everyone has an iphone and now the real profit, the real growth in apple is from its services, from its app store, all the various things that they can sell you around it, about having this tool in your hand. so with everybody having the nvidia gpus out had in they their data centers, what services can they sell on top of it. they can have developers develop applications that run on this that they can install and they have the software package to go with it. it goes from a one time hardware sale with an upgrade cycle to a constant fee revenue at very high mar

we talk about nvidia.ut blackwell, and then you've got jon asking, hey, is this facility ever going to be in a position to produce those chips? >> well, look, i think that the problem is once you're finished, the facility, jensen will -- from nvidia, will already have moved on to the next. that is what keeps happening. lisa su put out some chips, and they were terrific, and right on top of that, jensen had the next chips, and all the big customers want are the latest and greatest. so, it's absolutely -- there will be demand for what pat gelsinger is making, but the real demand, when it comes to amazon and alphabet, meta, when it comes to microsoft, are going to be for whatever is the fastest at the time, and what has software. nvidia will have software. intel is not a software company. so, intel will be at a disadvantage. that said, look, it's very difficult to get engineers in our country. it's 50 to 1 between taiwan and us in terms of the number of engineers. the number of builders, very, very difficult,