원문 보기
Bloomberg Audio Studios. Podcasts, radio, news. I drew attention to this, complementing Alexis' words, he is the only one I know who probably already has a foldable iPhone. Dan Ives joins, Yorkville Ives. Dan, have you seen, have you held, do you have a foldable iPhone? Yes, it should arrive soon. Um, but you know, look, I saw him.
That is, in my opinion, it could be 5-10% of iPhone Pro and Pro Max users who will choose this path. And I think that's important because it signals a new era of hardware innovation that we'll see under Ternus. Dan, give your perspective on what's happening with Coreweave right now. There's a lot of volatility there.
What is your opinion? What does this mean for Coreweave? And what does this mean for current discussions about AI? Yes, Paul, I just got back from Korea yesterday. And when I think about what happened with memory stocks, we only see further acceleration. So, the ratio of supply and demand is 13 to one.
When you think about what's happening with Coreweave right now and the concerns about debt and CDS spreads, I think of it as similar to the "SaaS apocalypse" earlier this year. I'm not saying there aren't some issues with the rate hikes, but given the demand and orders, I think it's ultimately a false narrative.
And we see this as an opportunity to buy stocks that have fallen so much in price over the past few days. What did you learn in Korea, Dan? You know, for tech investors, Korea has become—it always has been, but it's become perhaps even more important— for the overall tech stack . What did you learn in Korea?
Yes, I mean memory, if you look at the chips, demand has increased by another 30-40% in the last 60-90 days. So, this essentially shows that things are accelerating, and to me, it remains the best barometer of what we're seeing in the AI space. I think we'll see this in the profits of hyperscalers and chipmakers in general.
And look, regarding the debt issue, I understand the nervousness. I'm focused on demand, and demand suggests that we're only in the third inning of this AI game. So what's the main thing when you're communicating with customers there? What exactly do customers really want to find out now, because this story with AI is, to put it mildly , very volatile.
So, I think they're trying to figure out what percentage of data centers might be rejected. What percentage of data centers may not be implemented? Will there be enough capacity? How will this affect financial performance? I just think that when you put all the pieces of the puzzle together—from Nvidia to hyperscalers, the balance sheet that we're seeing, and memory stocks— I believe this is a tech market that will ultimately reach new all-time highs, despite the pressure from 10-year bonds and debt issuance.
That's what I focus on regarding demand history. Dan, is there a risk that due to political resistance and general public dissatisfaction, some of these AI data centers will move abroad? Is there such a risk? Yes, we assume that 5–10% of data centers will eventually be rejected, or politics, especially in the run-up to the midterm elections, will lead to their further reduction.
But even with this in mind, you will have between 800 and 1,000 operating data centers. Every dollar of capital spending generates a multiplier of $6 to $7 for the rest of the technology sector. This remains key to our main thesis about AI. The point is, Dan, and you know that AI is the main target.
I don't even have time to joke about Penn State, Dan, because things are so bad in State College that we're not going to joke about it. But Dan, 18 months ago Apple was in deep crisis. Microsoft was in deep crisis. Boy, how did they come back. Why did they return with such success? Well, Apple is back, because as you know, we've talked about it many times on your program.
Investors thought Apple might be late to the AI revolution. But with a base of 1.5 billion iPhones, they will become the “ tax collectors” on the consumer AI highway. And this is starting to happen now, if you look at what is unfolding. Plus, if you look at Meta and some of the deals they've made, yeah.
it's worth $75 a share. I think it's $400 at best . It could be $450, and Microsoft is a company that's working right in their backyard with these AI developments. Dan, it's time for us to go. Let's talk about Penn State football on Monday morning. Dan and I, Yorkville Eyes, are here to discuss upcoming tech company reports.
Comments 0