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Now let's invite Dan Ives. He is a partner in the new Yorkville firm Ives. It's good that you're back. It's great to be here. We'll move on to the new firm in a minute, because that's news in itself, but we have to talk to you about this, because remember, before you left your previous job, you had just started working on SpaceX and were one of the many bullish analysts on the stock.
But why isn't there an analyst raise like Leslie just talked about? So, I think when you look at SpaceX, obviously we have some important launches coming up, I think the most important thing for investors - the long-term launches that they're going to do - are like hurdles, because at the end of the day, that's history, and we've talked about it.
This is the story of artificial intelligence data. Space will increasingly be a huge part of the artificial intelligence revolution. I just see myself covering technology for decades if you look at Facebook or the IPOs they've done. You'll look at Amazon. It's very easy to become very short. You know, it's a 26- mile marathon.
I think we only walked a mile or two. Yes, I understand you. I mean, and there are a lot of comments about this . But the fact remains: it's just hard to assess. And in fact, this is one of the problems. Typically, you look at companies and you can look at all the different metrics and determine the price you think they should be trading at, right?
Evaluation relative to their profit. Hmm, but this is different. This is difficult. Listen, companies like this will not have {quote} value creation and support. And I think that's part of the problem. When you get into it, you know, the cascading effect starts. But as we've said, whether it's SpaceX, whether it's Tesla, whether it's a lot of transformational tech stocks, you have to be able to look beyond the trees to look ahead to the next three, five years.
And , where we are now, it's hard to say it without SpaceX in the sentence. What do you think about what continues to happen with chips and then what are the mega-caps doing in terms of their trading today and over the last month? I mean, they've certainly woken up, yes, but the chips remain very, very difficult to understand.
This goes back to SK's memory. They are the golden child of this AI trade. You've seen a massive sell-off since SK went public. But on the other hand, look at where Nvidia and many other chip companies are, and it all comes down to Q2 earnings . I mean, it really will be a light in the dark tunnel. We've already talked about this.
15 to one supply and demand. This AI revolution is still in its third inning, but the hyperscalers, these are the ones who are funding the AI side, funding the capital expenditures. These are actually the ones who are mostly in the penalty area . That's why it's so important for Alphabet, for Microsoft, for Amazon, that we move to what is really, I think, a crossroads on the way to reporting season, but I'm continuing to consider this issue.
The demand story is still at its beginning. I want to talk to you about some of these names. Let's look at Alphabet because it's so timely given what Warren Buffett said. It was my choice. And he believes they will be winners. What do you think about this? Listen, Buffett in his conversation with, I think, the valuation, you look at Alphabet a year ago, a taxi driver in New York was pessimistic.
And now that everything is happening in terms of what they're doing in search, what they're doing in the cloud, the sum of the parts for someone like Buffett or Berkshire looking for something good, what valuation names could you rationalize in AI? Let 's go back to SpaceX and some others, perhaps on the other side of the spectrum.
This is a perfect example that fits well, and they are at the epicenter of development, especially when it comes to search.
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