Power Lunch

Nvidia's board is a mystery (at least to me). But whoever they are, the pressure is now on. They are going to cost shareholders even more money but not being decisive right now. Strong governance matters.

Including the drop right now, Nvidia has now lost $2 TRILLION in investor value in a month. $NVDA's market cap loss is larger than all of Meta, six of Intel or three combined ExxonMobils Expensive stuff.

Critical on the grou .. er, on the water … intel.

Two points here at @Edison_Electric conference: NVDA / Huang scandal being seen as potential POSITIVE for others in AI and chips and data centers. Stocks up across board. NO ONE pulling electricity demand growth estimates lower. If data centers aren’t built in one state, they’ll be built in another. See you on @PowerLunch in a few

Arguably the most important conference in America right now for AI, data center and power demand. AI is just an energy story in disguise. More ahead on @CNBC and @PowerLunch

We hit some key election themes in my latest weekly newsletter ... read it here and sign up. More ahead on @PowerLunch as I'm in a cool location which will make sense once you hear it. cnb.cx/3U9rc4I @CNBC

Hello from …

Selling in some of the AI and data center stocks began a month ago and continues today. Election was gas on the fire. But .. coming up in an hour on @PowerLunch I’ll tell you the two most important people to data centers in Texas (hint: it’s not the Governor or Governor elect).

Backdrop for upcoming hit. Yes, that’s the Colosseum. Will explain why we are in Rome. @PowerLunch in 10 mins.

I don’t see data center / AI stocks falling much (if at all) today Two reasons: One - most are down big over the past month anyway (markets don’t wait around) And two … well, tune into @PowerLunch later today and I’ll tell you.

The #1 *economic* priority for the new Congress should be: (and I didn't use 'affordability' as an option as all of these roll into that ... and I recognize Iran isn't pure 'economic' but goes to macro energy policy)

in 5 mins tune into @PowerLunch Barry doesn't hold back!

Lots more chatter (again) about a possible peace deal with Iran (again). Iran media (whatever that implies) reporting that the Ayatollah has granted the gov't the authority for talks. After nearly 9 months it's easy to read this as "here we go again" but the Iranian economy is imploding and it is selling basically zero of its only product: oil. They are no doubt also aware that the US has a huge military buildup in the region and there's a real chance strikes occur. Oil down a touch right now. Next 72 hours will be critical. @CNBC @PowerLunch

Stock futures mildly higher. Leveraged ETFs and forced selling getting much of the blame for the down move the last 2 weeks. If so, it could reverse. Leverage works both ways That said, I’m still nervous about near term markets and all eyes on energy and Iran Midterms won’t matter much for markets. Slight blue tilt expected.

Big @PowerLunch now

Apple regains the crown of most valuable company in the world