00:00Dan, so just an embarrassment of riches when it comes to some of the earnings names next week.
00:06Which results are you most excited for?
00:09Yeah, look, I think it's get the popcorn out going into the weekend for next week.
00:13You're going to have robust earnings.
00:15I think front and center is going to be Microsoft.
00:17I think that's the one to me.
00:19In terms of AI revolution, you're trying to understand what these use cases look like, what that expansion.
00:26I think Azure growth is really off the charts.
00:29Microsoft is really one front and center.
00:31Obviously, another one is going to be Amazon.
00:34I think that's one where right now investors are doubting them.
00:37But I believe they're seeing a lot of strength when it comes to AWS conversions toward AI.
00:43Look, that's a theme.
00:45We're in a fourth industrial revolution.
00:47The hyperscalers are just so well positioned relative to this market.
00:51It's going to be a validation moment next week for big tech and tech stocks go much higher, in my opinion, to your end.
00:58I am curious, Dan.
00:59I don't know if we're going to hear it specifically on the earnings statements and calls.
01:02But do you think we're going to start to see more of these investments that we saw over the past few months, not necessarily just from the government into these companies, but some of the other companies investing in those companies?
01:13Oh, yeah.
01:13Look, I think and I can tell you, like, there's clearly some concern about circular finance and whatever.
01:19I disagree.
01:20I think this is you're building out a new economy from an enterprise perspective and consumers, and you're going to continue to see the stronger and stronger.
01:28That is going to play out.
01:30You're going to see more and more partnerships because you ultimately have more spending in the next two years than you've had in the last 10.
01:38And that's why I think, you know, we've talked about in that AI party, it's still 1030 p.m.
01:44And that party goes to 4 a.m.
01:47Until 4 a.m.
01:48I certainly will be asleep.
01:50But I hear what you're saying.
01:51And, Dan, to go back to your point that the strong gets stronger here.
01:55And certainly you think about all the spending that's going on, fueling some of that strength.
01:59Does that imply that, you know, the cast is pretty much set when it comes to that party?
02:04Or could you still see some new entrants here?
02:07Oh, I think you have new entrants because the second, third, fourth derivative is playing.
02:12I mean, like, when you think about software names like MongoDB, Snowflake, Fallen, Krillik, the Messe of AI, Palantir and others, cybersecurity right now is on the outside looking in.
02:23But I think they're going to be very strong in terms of the AI revolution and that old ripple effect, names like CrowdStrike, Palo Alto, among others.
02:33So I think that's really going to be the theme.
02:35I mean, this, even though it's been dominated by big tech and they will continue to lead tech higher, I think it's the second, third, fourth derivative is playing.
02:45And that's what this earnings season is going to show.
02:47It's a validation moment to pop the champagne moment for tech stocks.
02:51And I think the bears, they're going to continue to be in hibernation mood, talking about a bubble because they can't see AI in their spreadsheets.
02:59I am curious, Dan.
03:00I mean, you're coming to us not from the U.S., but you've been traveling overseas.
03:03And I am curious as to what the AI trade or the AI build out, if you will, looks like from the other side of the world.
03:10I mean, we always talk about it through the lens of the U.S. companies.
03:13But what's going on overseas?
03:15Yeah, in Asia here for two weeks.
03:17Look, I think part of it is that investors are trying to figure out how do you play it in the U.S., but do you also play it in China, whether it's Alibaba, Baidu and others.
03:26I think there's definitely much more of a risk on appetite.
03:30But I think investors, especially in Asia, are trying to understand, like, OK, as this plays out about U.S.-China negotiations, who are going to be some of the clear winners on both sides?
03:41Because you can't just play it in the U.S., you also have to play it in China as well.
03:45I think, you know, Alibaba continues to be our topic there.
03:48But then it comes down to just core demand.
03:51NVIDIA chips right now demands 10 to 1 in terms of demand to supply.
03:56And that's why that godfather of AI gents in NVIDIA, we're going to be looking ultimately at $5 trillion mark cap for NVIDIA going forward.
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