steve kovach has that for us. what do we know? >> yeah, shares are going green here, just defying the rest of the market. this is off a bloomberg report saying hpe last year landed a billion dollar deal with x, elon musk's social media company, for a.i. servers. we reached out to the company for response here, they didn't comment to us yet or to bloomberg. but you can see what this is doing to the shares, like the professor is saying, the a.i. narrative is still there. by the way, it is a little unclear here, scott, if this is going for x by itself, or if xai, musk's separate artificial intelligence company that shares a lot of resources with x, if that's going to be playing in here too. we know elon musk, xai has built that huge super computer, using server racks from dell and super micro names we talk about all the time. but hpe getting a billion dollar deal out of elon musk's a.i. empire here. shares up a percent and a half. >> appreciate that update, steve, thank you. steve kovach. >>> we're all over today's market volatility.

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for cnbc business news, i'm steve kovach. >>> returning to one of our top stories.estigations are continuing in new orleans after an army veteran flying an isis flag from his truck rammed into the new year's revelers killing 15 people and injuring around 30. jay gray joins us now from new orleans. jay, just give us the latest. >> reporter: yeah, silvia, as you can see, this area is still locked down. an early hour in the early morning here, you would normally see revelers still coming out of the french quarter kind of lingering along the streets on canal. you don't see that at all. in fact, there is an eerie silence in the city right now. a tension here. so many, like investigators, searching for answers. the suspect in the case, shamsud din jabbar, 42 years old with army service commitment. he left as a staff sergeant. we know investigators have centered the investigation in the french quarter where they continue to search for evidence, but also jabbar's home in houston and an airbnb rental in new orleans. it was the scene of the overnight fire yesterday and now in

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steve kovach. >>> steph link is back with us once again. talk about a.i. infrastructure first? off the heels of the announcement yesterday at the white house? a lot of winners. microsoft winner in long term. infrastructure, underappreciated. talk two yearsing a eaton and ge vernova. and it's important total addressable market for a.i. is $350 billion today going to $650 billion by 2029. doesn't include stargate. i think there's a lot of growth and you can play it through he technology names. >> playing it through the names you talked about? >> i do. >> vernova? >> one thing about data center. 11,800 data centers around the world. u.s. has 5,400 centers going to 10,000. you can play it through and amazon, number one hyche scaler in data centers. play it through broadcom and pure plays, or through names i mentioned. 1.8 trillion dollars of mega projects are expected throughout the world, according to eaton. only 16% have been started. so that's why i want to own tech but i also want to own the infrastru infrastructureplays. underappreciated. >> amazing. stocks that have done so w

given this apparent breakthrough, steve kovach is here at post nine with us today. i mean, that's the natural sort of follow. on for this conversation. >> yeah, and it's not just this conversation. we're getting into big tech earnings just in a couple of days. wednesday microsoft is going to report. and scott, i want to give you a little history lesson here. you don't have to go too far back. just six months ago all these hyperscalers were getting shellacked because they were saying, we're going to spend, we're going to spend, we're going to spend on capex. we don't know how much we need to spend, but trust us, we need to spend. i think there's a really demonstrative quote here. i want to play you from alphabet ceo sundar pichai in earnings call from july last year. take a listen to this. >> one way i think about it is. >> when you. >> go through. >> a curve like this, you. >> know. >> the risk. >> of underinvesting is. dramatically greater than the risk of. over investing. >> for us here. >> even in. >> scenarios where, you. >> know, if it turns out that we are ove

steve kovach has more on that. >> microsoft says it plans to spend $80 billion in its fiscal year which ends this june for artificial intelligence. this announcement was tucked into a microsoft post by brad smith who published it today coinciding with the new congress. he laid out for the u.s. and artificial intelligence. microsoft previously said expect $20 billion in capex spending on artificial intelligence for the rest of the fiscal year. microsoft is sharing a hard number on how much it plans to spend. to put these numbers into perspective, google spend $49 billion, amazon spent $64 billion, and meta, $30 billion. we will not get the numbers until a few weeks. by the way, that's largest and microsoft's largest acquisition ever when it bought activision for $69 billion. over half of this capex will be spent in the united states. microsoft previously said half of capex goes to compute, meaning nvidia chips. also stuff like a.i., server apps, other equipment. the rest is just the land, the power, construction costs. a.i. is not a big business for microsoft. the company says it's on tr

steve kovach now for a look at apple and an interesting downgrade today. you do not see a sell call all that often. and they're really looking at that rise that the stock had since we sat together at wwdc, and saying kind of punk, based on what? >> that's exactly right. this is coming from moffettnathanson, putting the price target at $188, 22% downside from now and it's blowing up the bullish narrative that apple intelligence is going to spur a growth cycle. they're basically saying it's already baked into the price before the apple intelligence launch. also saying consumers are luke warm on apple's ai features that have launched so far, the chatgpt integration and summarizing notifications. also saying there's no evidence of an ai upgrade cycle, adding, quote, consumers are unmoved by ai functionality. and then the challenge in china casting some doubt here that apple will be able to get apple intelligence approved by the government, which needs to happen before apple can launch apple intelligence in that country. huge, important feature, obviously, for

steve kovach has those details. >> two in one day and also no longer the most valuable company in the world. by the way, it's not just two downgrades, one other firm lowering their price target. and, remember, i was on your program just about every day, december, this exuberance around the stock just hitting those all-time highs on basically no news. the story really hasn't changed and we're still getting a lot of the kind of crummy signals on iphone sales that we've been getting since the beginning of the iphone 16 cycle back in september, and piling on to all of that is jeffries and luke downgrading apple today and jpmorgan is lowering its price target. jeffries saying apple is going to miss its revenue growth guidance for the december quarter, and the firm is lowering its expectations for the iphone 17 cycle based on lackluster ai response. and then over at loop, iphone 16 sales, quote, not amplified by apple intelligence launch. also saying that apple sold 5 million fewer phones in 2024 than they did in 2023. and then jpm lowering its price target by 5 bucks. and then there's chin

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steve kovach here to break it down. also here, managing partner at dcla. great to have you on. we're going to get to your '90s movie trivia in a moment, but steve, is this project brand-new? i don't think it is. >> yeah. no. and so, huge numbers, right? $100 billion. maybe $500 billion. that's all great. all these promises of spending, but we've been hearing about this spending for months and months now. we knew these companies were poised to announce all these kind of big ai infrastructure projects that includes this stargate project that was just announced yesterday. trump got to put his own flavor on it and give the backing of it, but again, this was, has all been in the works for a long time now. by the way, elon musk, one of trump's best friends, reportedly getting a spot in the west wing, an office near president trump, he kind of poo pooed this idea saying that softbank doesn't actually have the money to do what they want to do. by the way, andrew ross sorkin had satya nadella on this morning talking about where this money is coming from. here's what nadella said. >> look

steve kovach.m, alongside high bandwidth memory plays such as arista networks. wells fargo's aaron rakers joins us now. yeah. aaron, what's the takeaway? i mean, the big number obviously 100 billion maybe going as much as a half a trillion, even though there are some questions about who has the money and how. over what period of time it will be spent. >> yeah. >> i think. >> the takeaway here is that we've. got another, you know, leg to this ai narrative that's going to continue around, you know, not just the semiconductor names but also the infrastructure play. so as. >> you mentioned. >> you know. >> our favorite names here. >> high bandwidth memory. we saw hynix report last night. i think it was a 350 plus percent growth in their high bandwidth memory revenue this last quarter. >> micron plays on that same theme. and then i think. >> increasingly what. >> we're looking. >> at is that these. >> aren't singular. >> data centers anymore. >> you're connecting. >> multiple data centers together. so t

steve kovach will discuss that.ls like energy is a pretty popular comeback >> that's right. working. energy stocks are continuing that recent run of outperformance. the top sector today with all but one component in the green. and pacing for the best week since november as wti hits a three-month high. the xop is on track for the eighth straight positive session for the first time in a year as oil and gas prices move higher. and it is now on the cusp of overtaking the 50 and 100 day moving averages. the refiners pointed weakness all down double digits in the last month as we approach a seasonally weak period for driving demand. finally, over in the youth space, look at constellation, they're popping today after the company announced the new contract to supply nuclear power to the u.s. government. the news also lifting shares of vistra and nrg. >> that is not the reversal trade. that's momentum. thank you, pippa. >>> phil, a miss for tesla. put it in context. >> it wasn't a huge miss. they only missed by about 9,000 v

steve kovach is here with more. >> this just keeps dropping.s only down about 5%, now down nearly 11%, it looks like. and this is because in the december quarter, electronic arts says its global football business, not american football -- this is soccer, their football club '24 game did not perform as well in the december quarter as they had anticipated. they saw some early momentum early in the quarter, hence the guidance, but now, they're knocking off half a billion dollars for their full fiscal year guidance for the quarter ending in march. and that's just based, lackluster game play. there's one other game that also underperformed, a game called "dragon age inquisition." i know you guys are huge fans. guy's been playing -- >> all he does. >> level seven mage here. >> i'm eight by now. >> and that game also underperformed. that's what we're seeing. we've got a really exciting year of video games coming up. nintendo switch 2, later in the year, "grand theft you a taupe." that is going to just print money. that's coming from take two interacti

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steve kovach in the minute or so we got left for you.ant to take a look at shares of at&t, one of the big movers this morning on earnings. we're going to get an avalanche of earnings. we've talked so often about of course some of the biggest companies in the world that will be reporting during the course of this week. but at&t, in the midst of a bit of a rebound for some time, you can go back there and see the performance of the stock over the last year, even the last couple of years, leverage ratio coming down, cash flows going up, the fiber strategy. john stankey, the company's ceo, would say is being proved out in terms of the gains they're making. and then there's walgreens. i reported on it earlier. remember, there had been talk about a sycamore bid potentially for the company. the latest opioid litigation they were hit with, and any number of other reasons it's termed been termed to me as mostly dead. you can see that is being reflected to a certain extent in the current stock price. we got a lot more live market coverage for you,

steve kovach joins us now with more of the deal. courting the president. >> these are just the latest of the two courting trump ahead of the inauguration day. this is microsoft and apple ceo tim cook, even offering different things. it might not be the end we hear about cozy relationships. cook is donating $1 million to trump's inauguration, comes ahead of trump's promised china tariffs which apple needs to dodge. also on friday brad smith put out a lengthy blog post promising the company would spend at least who $40 billion i development, mostly for ai data centers not necessarily creating a ton of jobs. going to be a lot of buying nvidia chips as well. smith mentioned trump a total of nine times in that blog post and included a bunch of praise for his 2019 executive order on artificial intelligence. so let's talk about what's at stake for each of these. apple first of all. tim cook's donation what that could possibly get him. tariffs, trump promising up to 60% tariffs on imports from china although the "washington post" this morni