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☆ This software stock more than doubled on the back of A.I. mania. Here's why Wall Street expects the rally to fade
▼ + stars: | 2023-07-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Shares of Palantir have surged 181% this year as investors bet on its potential in the booming artificial intelligence race. The company, founded in 2003, is already making strides in AI, even lending its tools to hospitals . In its latest earnings release in early May, CEO Alex Karp called demand for Palantir's AI platform, which allows commercial and government sectors to use LLMs with their own private data, "without precedent." While some analysts see promise in Palantir's AI capabilities, many remain cautious on the immediate profit contribution of the technology and view the stock as ripe for a pullback. In a note to clients in May, Morgan Stanley's Keith Weiss noted that the rally in Palantir shares and premium valuation creates an unfavorable near-term risk-reward.

Persons: Palantir, Alex Karp, Malik Ahmed Khan, Davidson's Gil Luria, Raymond James, Brian Gesuale, Morgan Stanley's Keith Weiss, Karp, Morningstar's Khan, Mizuho's Matthew Broome, Davidson's Luria, — CNBC's Michael Bloom Organizations: Wall, Nvidia, billings Locations: Denver

☆ Lightning Round: Icahn Enterprises probably has another 10% higher to go, says Jim Cramer
▼ + stars: | 2023-07-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Icahn Enterprises probably has another 10% higher to go, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Icahn Enterprises, Rambus, Palantir, Commercial Metals and Coherus.

Persons: Jim Cramer Organizations: Icahn Enterprises, Rambus, Metals

☆ Cramer's Lightning Round: Palantir is a buy
▼ + stars: | 2023-07-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Rambus's year-to-date stock performance. Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon Coherus Biosciences's year-to-date stock performanceCoherus Biosciences : "I've got to tell you, it's a very hard drug to make... Look, it's a good spec, let's just leave it at that." Stock Chart Icon Stock chart icon Commercial Metals's year-to-date stock performance. I like the metal recycling business, and I think it's terrific, second only to Nucor, as far as I'm concerned in that group."

Persons: Coherus, I've Organizations: Metals

☆ Nonprofit funded by GOP donor Thiel apparently donated to left-leaning group, records show
▼ + stars: | 2023-06-28 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

The New Venture Fund raised over $950 million in 2021, according to the group's records. The listed donation to the New Venture Fund coincided with Thiel helping Republican candidates during the 2022 midterms. Massoglia suggested another scenario: that accountants for the Thiel Foundation may have filled out the forms incorrectly. The New Venture Fund is part of a network of left-leaning nonprofits guided by philanthropic advisory firm Arabella Advisors. Just like the New Venture Fund and the Donors Trust, the Sixteen Thirty Fund does not publicly disclose its donors.

Persons: Peter Thiel, Republican megadonor Peter Thiel, It's, Thiel, Anna Massoglia, OpenSecrets, Massoglia, Mitch McConnell, Brendan Fischer, Thiel Foundation hadn't, George Soros, Arabella Advisors Organizations: PayPal, Palantir Technologies, Founders Fund, Miami Beach Convention Center, Republican, Democratic Party, CNBC, The Thiel Foundation, New Venture Fund, D.C, New Venture, Thiel, Thiel Foundation, The New York Times, Donors Trust, Washington D.C, Google, America, Democratic, America Votes Locations: Miami , Florida, Washington, OpenSecrets, Ky

☆ Deutsche Bank says this A.I. winner could be in trouble after its latest investor day
▼ + stars: | 2023-06-23 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

C3.AI did little to differentiate itself among an increasingly crowded space of artificial intelligence stocks at the company's investor day, according to Deutsche Bank. The bank on Friday reiterated a sell rating the stock, with a $16 per share price target. C3.AI has surged 234% year to date as investor hype over artificial intelligence lifted the entire sector. But Deutsche Bank analyst Brad Zelnick said it isn't clear at this point in time how the company will stand out and added that the investor day held earlier this week only provided "somewhat limited incremental updates." AI YTD mountain C3.AI has been on an impressive run since January tied to investor excitement over artificial intelligence.

Persons: Brad Zelnick, Zelnick, Morgan Stanley's Sanjit Singh, Joshua Tilton, Michael Bloom Organizations: Deutsche Bank, Deutsche, Wolfe Research Locations: hyperscalers

☆ Stocks making the biggest moves midday: Dollar Tree, Amazon, FedEx and more
▼ + stars: | 2023-06-21 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

People walk by a Dollar Tree store on December 11, 2018 in the Brooklyn borough of New York City. FedEx — The delivery company fell 1.7% after quarterly revenue missed expectations and announced CFO Mike Lenz would retire on July 31. Adjusted earnings were better than expected at $4.94 per share against the anticipated $4.89, while forward guidance was around flat. Advanced Micro Devices — Shares of the chipmaker pulled back nearly 5%, on track for their biggest intraday loss in two weeks. Dollar Tree — Shares of Dollar Tree popped more than 3% after the discount retailer reiterated its fiscal second-quarter 2023 earnings guidance.

Persons: Mike Lenz, MicroStrategy, Tesla, Rivian, Goldman, OneSpaWorld, Walt Disney, Needham, Laura Martin, Bob Iger, Raymond James, Uniqure, hemophilia, Yun Li, Michelle Fox, Jesse Pound, Sarah Min, Brian Evans Organizations: Federal Trade Commission, Amazon, FedEx, Securities and Exchange Commission, Barclays, GlaxoSmithKline —, Petrobras —, Walt Disney —, AMD Locations: Brooklyn, New York City, bitcoin, Netherlands

☆ Top 10 things to watch in the stock market Tuesday
▼ + stars: | 2023-06-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

It's a new week but the recent stock market rally makes for a not-so-great set up as Jim Cramer told the Investing Club Monday evening in his weekly column. Jim and "Mad Money" are in Detroit for all things Ford (F) with CEO Jim Farley, covering everything from Ford Blue to Ford Pro to Ford Model e (electric vehicles). Bank of America adds Club stock Amazon (AMZN) to its US 1 list. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Dow, Jim, Jim Farley, They'll, Elon Musk, Sartorius, Cowen, Eli Lilly, Raymond James, Morgan Stanley, Philip Morris, Jim Cramer's Organizations: Nasdaq, Ford, Ford Pro, Ford Model, Elon, Bank of America, Nvidia, Club, Dice Therapeutics, Avis Budget, Citi, Delta Air Lines, DAL, PayPal, Nike, Dow, Barclays, Jim Cramer's Charitable, CNBC Locations: Detroit

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Tesla, Amazon, Delta, Rivian, Disney & more
▼ + stars: | 2023-06-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Evercore ISI reiterates Apple as outperform Evercore said it's bullish on Apple's venture into augmented and virtual reality. " Morgan Stanley upgrades U.S. Foods to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it sees "optionality." Morgan Stanley initiates Everest Re Group as overweight Morgan Stanley said it's bullish on shares of the insurer. Morgan Stanley initiates Arch Capital as overweight Morgan Stanley said the insurance company is "best positioned for secular growth opportunities." Morgan Stanley upgrades Avis Budget to overweight from equal weight Morgan Stanley said it likes the company's profitability potential.

Persons: Evercore, it's, it's bullish, Piper Sandler, Tesla, Piper, we've, Morgan Stanley, Baidu, Read, Philip Morris, Raymond James downgrades Palantir, Raymond James, Goldman Sachs, Goldman, Canaccord, Bud, Chipotle Organizations: Apple, Pro, Credit Suisse, Citi, Delta Citi, Bank of America, Inc, Foods, Everest, Arch, Avis, OW, Nvidia, Data Center, BMO, Securities, Disney, ESPN, Anheuser Busch InBev Locations: 1H23, 2Q23, China, combustibles, Hulu

☆ These stocks have 'sizeable upside' and are poised for a second-half breakout, analysts say
▼ + stars: | 2023-06-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"Therefore, we think COMP represents one of the best margin upside stories in our coverage," he said. "Our conclusion is there is solid upside left both fundamentally in terms of upside vs consensus and subsequent stock upside for a few reasons," he said. "Reiterate OW- Still sizeable topline (and stock) upside left at elf," he said. elf Beauty- Morgan Stanley, overweight rating "Timeless Beauty; Reiterate OW- Still Sizeable Topline (and Stock) Upside Left at ELF. ... Our conclusion is there is solid upside left both fundamentally in terms of upside vs consensus and subsequent stock upside for a few reasons.

Persons: Compass Oppenheimer, Jason Helfstein, Helfstein, Morgan Stanley, Dara Mohsenian, Mohsenian, Mariana Perez Mora, PLTR, Perez Mora, Palantir, Baird Organizations: CNBC, Compass, TAM, Bank of America, AIP, Oppenheimer, PowerSchool Locations: FQ3

☆ How Palantir is helping hospitals with tasks that used to require spreadsheets and whiteboards
▼ + stars: | 2023-06-17 | by ( Ashley Capoot | ) www.cnbc.com time to read: +11 min

In this article PLTR Follow your favorite stocks CREATE FREE ACCOUNTThe Cleveland Clinic in Cleveland, Ohio, U.S., on Saturday, Nov. 14, 2020. The Cleveland Clinic was in the midst of trying new AI-powered software from Palantir . But by accurately predicting patient discharges, Palantir's system saved Pappas, her team and the emergency department a lot of time and effort. Palantir partnered with two health-care systems, Cleveland Clinic and Tampa General Hospital in Florida, during the summer of 2021 to develop software called Palantir for Hospital Operations. Zoom In Icon Arrows pointing outwards Schedule review within Palantir for Hospital Operations Palantir

Persons: Dustin Franz, Rita Pappas, Pappas, —, Palantir, Shyam Sankar, Sankar, Alex Karp, Dr, Peggy Duggan, Drew Goldstein, Jeremy David, Palantir Drew Goldstein, Palantir's, I'm, David, Goldstein, whiteboards, Drew didn't, They've Organizations: Cleveland Clinic, Ohio Department of Health, Bloomberg, Getty Images Bloomberg, Getty, Cleveland, CNBC, Tampa General Hospital, Hospital Operations, U.S, Intelligence, Hospital Operations Palantir Nurses, American Medical Association . Companies, Tampa General, Cleveland Clinic's, Microsoft Locations: Cleveland , Ohio, U.S, Ohio, Tampa, Florida, Palantir, Florida and Ohio

☆ Investors have piled into AI startups following the launch of ChatGPT. Here are 20 pitch decks used by Europe's AI founders to win over VCs.
▼ + stars: | 2023-06-16 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

AI startups raised $60 billion last year and investors have continued to pile in on the tech in 2023. Below are 20 pitch decks used by European startups deploying AI in everything from health to property. V7Generative AI, media, and designThis startup uses generative AI to speed up the property-buying process. This AI startup helps Big Tech firms compress videos while maintaining quality. This AI startup helps firms like TrueLayer and CurrencyCloud meet their revenue targets.

Persons: Sam Altman, Elon Musk, Andreessen Horowitz, Nat Friedman, Alberto Rizzoli, Simon Edwardsson, Iris Organizations: Morning, Investment, Venture, Insight Partners, Ventures, Google, Creative Fabrica, Big Tech, Health, Microsoft, Enterprise, Ikea, Twitter, CurrencyCloud Locations: Temasek

☆ Retail traders are taking profits on A.I. Here’s what they are selling
▼ + stars: | 2023-06-16 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Retail investors may be getting cold feet about the dramatic rise in recent months for stocks tied to artificial intelligence. Vanda Research Senior Vice President Marco Iachini said in a note to clients Thursday that retail traders were trimming their positions in a few hot stocks. "Retail traders look to have taken some profits as share prices continued rallying. However, retail investors have sought to lock in some profits, especially in popular smaller-cap names like [ C3.ai] and [ Palantir ]," the note said. Nvidia is still seeing strong inflows, and Tesla has been the most popular stock for retail traders recently.

Persons: Marco Iachini, Palantir, Vanda, Tesla Organizations: Vanda Research, Nvidia Locations: U.S

☆ A 'string of successes' fueling the IPO market, and the ETF that tracks it
▼ + stars: | 2023-06-14 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +2 min

"We do see a light at the end of the tunnel," Matt Kennedy, Senior IPO Market Strategist for Renaissance Capital, told CNBC's Bob Pisani on "ETF Edge" on Monday. Kennedy's firm runs the Renaissance Capital IPO ETF (IPO), which tracks the performance of newly public company stocks. According to Renaissance Capital, holdings in the IPO ETF cycle out three years after being listed on the market. The 10-year average of capital raised for new initial public offerings is $55 billion, but only $7.7 billion was raised last year, according to Renaissance Capital. Nearly the same amount has already been raised so far this year ($7.3 billion), fueling anticipation that the market is finally getting back on track.

Persons: Matt Kennedy, CNBC's Bob Pisani, Kennedy, They're Organizations: Renaissance Capital, Capital, Renaissance, ARM, Foods Locations: Snowflake, Airbnb, Cava, U.S, Fogo de Chao, Klarna

☆ Green shoots for the IPO market? More companies are looking at going public
▼ + stars: | 2023-06-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The Great IPO Drought has gone on for 18 months, but some are hopeful that may be ending. It still is a mid-sized deal, but it's getting more attention than usual because there is some hopes the Great IPO Drought may have a shot at ending. "A market rise is a necessary precursor for a rebound in IPOs," Matt Kennedy, senior IPO market strategist for Renaissance Capital, told me. Kennedy would know: Renaissance Capital runs the Renaissance Capital IPO ETF, a basket of recent IPOs. It's a long slog back to a 'normal' IPO market As bad as it has been in 2023, it's better than it was in 2022.

Persons: Matt Kennedy, Santosh Rao, Kennedy, DoorDash, Kenvue, Johnson, It's, it's, Cava, Rao Organizations: NYSE, Renaissance Capital, Manhattan Venture Partners, Capital, ARM, Foods, Saks Locations: Cava, IPOs, Snowflake, Palantir, Chao

☆ Tech leaders are calling for an A.I. pause because they have no product ready, Palantir CEO says
▼ + stars: | 2023-06-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Palantir's boss Alex Karp opposes the idea of a pause in artificial intelligence research, in contrast to an open letter from the Future of Life Institute signed by some of the biggest names in the tech industry. The letter, which has garnered over 31,000 signatures including names like Tesla CEO Elon Musk and Apple co-founder Steve Wozniak, called for a pause on AI research on models larger than GPT-4, which powers tools such as ChatGPT. The letter also said that if "such a pause cannot be enacted quickly, governments should step in and institute a moratorium." Speaking to BBC Radio in an interview broadcast Thursday, Karp said he is of the view that "many of the people asking for a pause, are asking for a pause because they have no product." To him, "studying this and allowing other people to win both on commercial areas and on the battlefield" is a really bad strategy.

Persons: Alex Karp, Elon Musk, Steve Wozniak, Karp Organizations: Life, Apple, BBC Radio

☆ Retail investors are piling into these 10 stocks as a new bull market gets started
▼ + stars: | 2023-06-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Retail investors are returning to the stock market as a new bull market begins and sentiment improves. These are the top 10 stocks that have seen the heaviest buying pressure from retail investors over the past week. These are the top 10 stocks purchased by retail investors over the past week, according to Vanda Research. Advanced Micro DevicesAMD CEO Lisa Su Steve Marcus/ReutersTicker: AMDFive-day Net Retail Purchases: $203.5 millionYear-to-date performance: 92.7%3. Apple(Photo by Fernando Gutierrez-Juarez/picture alliance via Getty Images)Ticker: AAPLFive-day Net Retail Purchases: $385.9 millionYear-to-date performance: 39.8%1.

Persons: Vanda, —, Microsoft Justin Sullivan, Mario Tama, Lisa Su Steve Marcus, Nvidia Jensen Huang, Rick Wilking, Fernando Gutierrez, Tesla Tesla, Michael Macor Organizations: Vanda Research, Service, Palantir, Retail, Microsoft, Verizon, Reuters, Nvidia, CES, Apple, Getty, Bloomberg, San Francisco Locations: Los Angeles , California, Las Vegas , Nevada, U.S

[1/3] Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoWASHINGTON, June 7 (Reuters) - Britain will host a global summit on artificial intelligence safety later this year and Prime Minister Rishi Sunak and U.S. President Joe Biden will discuss the technology at their Thursday meeting, the UK government said. That includes China, where the government is seeking to initiate artificial intelligence regulations, according to billionaire Elon Musk who met officials during his recent trip to China. Sunak is on a trip to the United States and will meet Biden at the White House on Thursday. Reporting by Kanishka Singh and Andrea Shalal in Washington; editing by Deepa Babington and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Rishi Sunak, Joe Biden, Biden, Sunak, Elon Musk, Kanishka Singh, Andrea Shalal, Deepa Babington, Stephen Coates Organizations: REUTERS, WASHINGTON, Palantir Technologies, Regulators, White, Thomson Locations: Britain, British, China, United States, Washington

☆ Google, Palantir and Meta are great companies to ride the A.I. wave: Deepwater Asset's Gene Munster
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle, Palantir and Meta are great companies to ride the A.I. wave: Deepwater Asset's Gene MunsterHerb Greenberg, Empire Financial research editor, and Gene Munster, Deepwater Asset Management managing partner, join 'Power Lunch' to discuss A.I., virtual reality, and crypto and how to distinguish between tech fads and the future.

Persons: Asset's Gene Munster Herb Greenberg, Gene Munster Organizations: Google, Asset's, Empire Financial, Deepwater Asset Management

☆ Lightning Round: Sell Rivian and sell Lucid, says Jim Cramer
▼ + stars: | 2023-06-05 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Sell Rivian and sell Lucid, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Snowflake, Taiwan Semiconductor, Scotts Miracle-Gro, Azul SA, Palantir, Allison Transmission, Hilton, Essential Utilities, Samsara, Rivian, and Intel.

Persons: Jim Cramer, Allison Transmission Organizations: Taiwan Semiconductor, Scotts Miracle, Gro, Azul SA, Essential Utilities, Intel Locations: Snowflake

☆ Cramer's Lightning Round: Hilton is a keeper
▼ + stars: | 2023-06-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Snowflake's year-to-date stock performance. Stock Chart Icon Stock chart icon Azul's year-to-date stock performance. Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon Hilton's year-to-date stock performance. Stock Chart Icon Stock chart icon Samsara's year-to-date stock performance.

Persons: Frank Slootman, it's, Palantir, Allison Transmission's, Allison, Hilton, that's, It's, I've Organizations: CNBC, Scotts, Scotts Miracle, Stock, Caterpillar, Marriott, Hilton, Utilities Locations: Snowflake

☆ Check out the 18-slide pitch deck Lindus Health used to convince Peter Thiel to back its clinical trials platform
▼ + stars: | 2023-06-01 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Tech billionaire Peter Thiel has invested in British health tech startup Lindus Health. Check out the 18-slide pitch deck Lindus Health used to raise the fresh funds below. Billionaire Peter Thiel has invested in a startup that aims to dramatically speed up clinical trials, bringing its total funding raised to $6 million. The British Medical Journal estimates that clinical trials in the UK have fallen by 41% between 2017 to 2021. With the cash injection, Lindus Health will focus on growing its commercial team, and expand its trials globally.

Persons: Peter Thiel, Michael Young, Thiel, Young, Firstminute, Hambro, Peter Thiel's, Sifted Organizations: Tech, PayPal, British Medical, Lindus Health Locations: London, Berlin, Germany, Europe

☆ Stocks making the biggest premarket moves: ChargePoint, Ford, Nvidia, Tesla and more
▼ + stars: | 2023-05-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making some of the biggest moves in premarket trading:ChargePoint — Shares of the electric vehicle charging station company jumped 5% premarket after Bank of America upgraded the stock to buy. Tesla — Shares gained 3% premarket. Last Thursday, Tesla and Ford announced a partnership giving Ford owners access to Tesla Superchargers. Coinbase — Shares gained 4% in premarket trading. Nvidia — Shares continued to near $1 trillion in market value, up 3.7% in premarket trading.

☆ Investing in AI: how to avoid the hype
▼ + stars: | 2023-05-26 | by ( Naomi Rovnick | ) www.reuters.com time to read: +5 min

SummarySummary Companies AI boom brings fresh challenge for investorsAI-themed stocks highly valuedStick with big tech not AI stocks - investorsLONDON, May 26(Reuters) - Experienced tech investors are hunting for undervalued opportunities in an over-valued space. Investors are chasing exposure to generative AI, the technology run by ChatGPT that learns from analysing vast datasets to generate text, images and computer code. Businesses are trying to use generative AI to speed up video editing, recruitment and even legal work. GAM's Hawtin said he has also hunted out companies that provide the "picks and shovels," necessary for enabling new AI technology. Amazon's Bedrock service, for example, lets companies customise generative AI models rather than invest in developing them themselves.

☆ Here are big Wall Street investors' favorite A.I. bets, other than Nvidia
▼ + stars: | 2023-05-25 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

But it's not just Nvidia the smart money is betting on to power AI growth. Dan Loeb's Third Point also purchased Alphabet in the first quarter, making it the fund's fifth-biggest holding. Shares of Alphabet have rallied almost 40% this year as investors grew optimistic about the company's AI capabilities. AI software Druckenmiller revealed recently his Microsoft stake was also a bet on AI. Another AI software maker, Palantir, lately attracted buying from Ark Invest's Cathie Wood.

Persons: it's, Stanley Druckenmiller, Dan Loeb's, Bill Ackman's, Philippe Laffont’s Coatue, Stephen Mandel’s, Druckenmiller, David Tepper, Daniel Sundheim, Meta, Laffont’s Coatue, —, Samantha Subin Organizations: Nvidia, Wall Street's, Billionaire, Duquesne, Office, Google, Bill Ackman's Pershing, Capital Management, Taiwan Semiconductor, Tiger Global Management, Coatue Management, Devices, Stephen Mandel’s Lone Pine Capital, Microsoft, Meta Locations: Wall

☆ 'Price bubble' in A.I. stocks will wreck rally, economist David Rosenberg predicts
▼ + stars: | 2023-05-25 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +2 min

Economist David Rosenberg, a bear known for his contrarian views, believes enthusiasm surrounding AI has become a major distraction from recession risks. "No question that we have a price bubble," the Rosenberg Research president told CNBC's "Fast Money" on Thursday. "[This] looks very weird," said Rosenberg, who served as Merrill Lynch's chief North American economist from 2002 to 2009. Just seven mega-caps have accounted for 90% of this year's price performance," Rosenberg wrote. While mega cap tech outperforms, Rosenberg sees ominous trading activity in banks , consumer discretionary stocks and transports .

Persons: David Rosenberg, CNBC's, Rosenberg, Merrill Lynch's, Jensen Huang Organizations: Rosenberg Research, Nasdaq, Nvidia, Microsoft

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