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I think that as it expands, whether in the corporate or public sector, Palantir will reach a trillion-dollar market cap. I think you have a lot of company names here. If people want to check it out, I think they can go to Yorkville and maybe find your entire list. This is quite a long list. One of the ones you've mentioned a lot lately is SpaceX; had a great conversation with Landon Swan from Folio.
I don't remember him being so optimistic in many of our conversations. He gave us data to support his optimism about this company. We also received news that Apollo and other banks are now helping SpaceX pay for Nvidia chips. What do you think about SpaceX? Where is she going? And what do you think about the fact that these companies are now turning to more than just tech firms for funding to buy chips?
Yes, because there is real convergence happening now. I mean, if you look at what SpaceX is doing, they are essentially turning into the next hyperscaler. That's why I like their strategy for Nvidia chips in terms of scaling over the coming years. And this is much more of a data game than the so-called space game.
You and I have said that, in my opinion , by the end of next year there is more than an 80% probability that SpaceX and Tesla will merge through data and all AI technologies under one roof. Given the IPO and the lock-up period for SpaceX shares, there will be certain times when you will have to be nervous.
You know, 215 is the target, but I continue to believe that it's still in the very early stages of what it will become in the coming years. Target price right now. Well, the price is now 161. What is your real optimistic target price for SpaceX? Listen, I think over the next few years, when they start implementing this, it could grow significantly compared to current figures.
Yes. When it becomes a hyperscaler. This brings us back to Musk's vision: to build a hyperscaler out of this, to become a kind of universal tool for AI. And I think that's what they're trying to do in all directions. And this shows that they are building it literally brick by brick. But I think what they've done on Nvidia's part and in terms of capacity building is exactly what needs to be done.
This is an arms race taking place in the technological sphere. It's like the development of the Las Vegas Strip in 1955. There are very few places left on the Las Vegas Strip. If you suddenly decide to build there in 5 years, you will end up in Reno. And I think that's how these tech companies understand their actions.
Now is the time for this golden era, the third inning of the AI revolution. I see that you have some old names like IBM or Dell, in addition to new companies that people are following, from SK Hynix to Nebius— names that are less familiar to the general public. I saw Snowflake there, and Meta too.
We have a lot of hyperscalers, names from the "big seven": Apple, Meta, Alphabet—they're all there , Nvidia too. Finally: when the market is down, how much should you buy ? What proportion of technology stocks should you hold in your portfolio? What advice would you give to a 30-year-old with a diversified portfolio?
I don't mean to be sarcastic or ironic, but what do you say to a 30-year-old investor on a day when the market drops five or ten percent? After all, we expect volatility from today until the end of the year. What should they do? I tell them: you are in the third year of a 10-12 year rollout of a true fourth industrial revolution.
There will be moments of great tension, like talk of the " SaaS apocalypse" or circular finance, just look at yesterday's OpenAI report. But the reality is that we are in for a multi-year tech bull market, and bears have already "predicted" 10 of the last two downturns. Bears don't see AI in their spreadsheets when they're in hibernation mode, and now is the time to own the technology leaders.
And when opportunities arise for leaders, you have to own them, which is how we continue to navigate these markets. Very quickly about the tech boom and bust, I was here and you were here. Why is it so different for those who don't believe that everything is about AI and its development now? What would you say makes this different from 1999?
Well, back then, technology stocks were trading at a multiple of 30 to earnings. Today—23 to profit. Back then, these were venture-capital-funded companies with essentially PowerPoint- level business models . So, I see big tech having a trillion dollars on its balance sheet and spending 300-400 billion a year building what I think of as the artificial intelligence revolution, this new economy.
And the usage examples are real ; Look, look at these expenses that are happening. This will change the society of consumers and businesses, and ultimately, AI will create more jobs than it takes away. And I just think that's always a danger, Nicole: It's always easy to look back and say, "Oh, this could be another moment like this," but a lot of bears have missed all the transformative tech stocks of the last 25 years because they're always saying, " Oh, this is the end." And I think that's part of what creates the market here.
Why did Elon Musk say : "I won't have any apps on my phone in 5 years." I have many programs. Well, I mean, Musk is clearly against the Apple ecosystem and the overall vision, but it shows that every tech company approaches this in its own way. Musk is doing his thing. Nadella is doing his thing. The Godfather of Generative AI and others, you know, just follow the list, right?
And this is a real arms race that is happening. That's why these companies will spend money like they're on a Ferrari in the left lane at 100 mph , not 45 in the right. Something tells me you drive in the left lane too, Dane Ives. Almost sure of it. Dan Ives, Wedbush Securities. Thank you, Dan. Nice to see you.
Fearing lawsuits and regulation that protects them, so that the next time OpenAI or Anthropic is protected from being hacked by an AI agent. Well, wait. The Federal Trade Commission has said they will come and investigate the activities of OpenAI and Anthropic. You have fuses installed there. Madison, I want to hear your thoughts on this.
Those who create AI can't seem to agree on how much risk is too much. Listen to OpenAI CEO Sam Altman just a few weeks apart. We believe that the world must accept some negative consequences for the benefits of this technology. The industry should not take excessive technological risks just because the benefits are so great and they consider themselves too important to stop.
Is this a communication problem? Yes. Yes, that's right. Yes, that's right. You have these companies saying that AI is going to—and I started by saying that it's going to be the most transformative technology of our lifetime. But there are also people at companies like Anthropic who say there is a greater than 10% chance that humanity will disappear in the next decade.
So I think part of the problem is , how does he know that? Are there "p-dooms" that are the probability that he typed this into the chat? GDP is the probability of death of society, and these are the employees of the companies themselves. So I think the problem—and we talk about this a lot—is that AI has such great potential, and they need to go out and focus on...
Although he's saying both at the same time. He, well, you know, he sounds like he's selling an IPO. Some of the hysteria sounds a bit like climate hysteria, but we should have been underwater by now . I mean, look, you have to acknowledge that there is a risk, but don't stop progress. Every technological innovation was accompanied by fear.
I mean, with cars, people said they would be dangerous. With television, they said that people would no longer have the ability to concentrate. When PCs came along, people said, "Oh, all the jobs are going to be lost." In a free economy, new jobs are created . New wealth is being created . Don't let the government get in the way.
Jonathan, I want you to stay here because the White House and some CEOs have adopted the term " superintelligence" instead of "artificial intelligence." How do you like this paraphrasing of "superintelligence"? I have to say, I don't like " superintelligence". I mean, when I think of a super-intelligent being, I think of Einstein, Newton, or Stephen Hawking.
Intelligence, in my opinion, requires human cognition, requires free will. So I think "artificial intelligence" is actually more appropriate , because it's not free, it's terrible, but it's living beings, but it's a terrible thing to sell. Let's be frank. The White House is trying to sell this to a very, very skeptical American public.
So if you sell " artificial," everyone is like, " artificial—it's scary." You are selling " superintelligence". Well, maybe a little. It's like Superman. This is artificial intelligence. These are computer programs created by humans and controlled by humans. This is a heated debate. We are just getting started.
All three. If you enjoy in-depth analysis of Nvidia, AI stocks, and the forces driving Wall Street, be sure to subscribe to the channel. We analyze the most important developments in the market and explain what they could mean for the future of technology. The boom in artificial intelligence is creating extraordinary opportunities.
But the biggest question for investors now is whether the market is still underestimating future growth, or whether expectations have become too optimistic. Let's look at Micron. The company's shares have already risen by approximately 432% over the past year. According to the market comments we are studying.
However, even after such significant growth, some investors believe that the memory chip giant still has potential, and this argument comes down to one crucial factor . AI needs memory, and the industry is struggling to produce enough of it. As AI model for them becomes increasingly demanding. Companies need powerful processors.
But these processors also need high-performance memory to work efficiently. Without sufficient memory, even the most advanced AI systems will not be able to reach their full potential. And that's why memory has become such an important part of the history of AI development. Micron benefits from this demand because supply is limited.
Constant conditions create a favorable environment for memory manufacturers. The company could also get an additional boost from the next PC refresh cycle, as consumers and businesses buy more computers capable of working with AI. Demand for advanced memory may extend beyond the data center market. The investment thesis becomes even more interesting when you consider Micron's financial condition.
The company has approximately $6.8 billion in net cash, highlighting its ability to participate in market growth. Of course, stocks that have already quadrupled can exhibit significant volatility . The real question is whether future earnings can grow fast enough to support the valuation, and Micron isn't the only company gaining attention at the center of the AI infrastructure boom.
Some analysts believe the company's long-term capabilities extend beyond today's data center spending, especially as AI, robotics, and automation physical systems evolve. One bullish analyst reaffirmed a $300 price target, arguing that the next stage of the AI cycle could create additional upside potential.
An important difference is that today's AI market is still largely focused on building infrastructure. The next phase could include applying this infrastructure across multiple industries. Imagine AI systems that control machines, monitor industrial processes, assist with complex physical tasks, and advance automation technologies.
Such applications can require enormous amounts of computing power, and this could extend capabilities far beyond the current generation of AI applications. Microsoft is another company that is poised to benefit. Its Azure cloud platform gives businesses access to the computing infrastructure needed to deploy AI at scale.
As enterprise clients integrate AI into their operations, demand for cloud capacity and related services may continue to grow. But the possibilities are not limited to chips and cloud computing. Cybersecurity companies can also benefit from the proliferation of AI agents. Over time, these agents will be able to perform complex tasks, access sensitive data, and interact with many business applications, which creates new security challenges.
Companies will need tools to monitor these systems, control their permissions, and prevent unauthorized actions. With the introduction and development of AI, cybersecurity may become an increasingly important part of infrastructure. Enterprise software vendors can also benefit, especially those who help businesses organize data and prepare systems for AI integration.
In other words, the capabilities of AI extend to the entire technology industry. Winners could include chip manufacturers, memory, networking companies, and cloud providers. Cybersecurity firms and software developers . Now let's look at one of the most unexpected developments. SpaceX is increasingly being talked about in the context of infrastructure for AI.
Market observers highlighted reports of funding worth about $14 billion involving Nvidia chips to realize larger infrastructure ambitions. The main idea is that SpaceX can eventually become something more than just a space launch company. Its technological capabilities, data assets, and AI ambitions could become the foundation for a much broader computing business.
This does not guarantee that the company will become another hyperscaler. But it demonstrates how AI infrastructure is attracting capital from outside the traditional tech sector.
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