WEBVTT - Wedbush's Dan Ives Talks AI Tech Competition

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. This is Daniel Ives

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<v Speaker 1>of Webbush first of all, rocketed out of Las Vegas

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<v Speaker 1>with Aston Martin. For those of you on radio, he's

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<v Speaker 1>got the real jacket on, like the kind of land Alonzo.

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<v Speaker 1>We're in all that. What in Formula one with all

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<v Speaker 1>the excitement Apple taking over the broadcast, Cadillac coming in

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<v Speaker 1>next year, when you're in the pit like you were,

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<v Speaker 1>What's what's the thing that you don't know when you

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<v Speaker 1>watch on TV?

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<v Speaker 2>I think, I mean my experience at that point. I

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<v Speaker 2>think the thing that peopleon't realize not just how loud

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<v Speaker 2>it is, but especially like when you're in there and

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<v Speaker 2>you actually have like the headphones on and you hear

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<v Speaker 2>them talking to the drivers. Just a complexity. I mean,

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<v Speaker 2>that's the thing. It's like, it's it's really amazing.

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<v Speaker 1>Did you change a tire?

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<v Speaker 2>I did, but I will tell you at at indy

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<v Speaker 2>five hundred, I came close to almost change the entire Okay,

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<v Speaker 2>Dan Eyes secure Liberty Media.

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<v Speaker 3>You can own Formula one fw NK is the ticker

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<v Speaker 3>Liberty Media. You can own it as a public Why is.

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<v Speaker 1>Apple doing that? Explain? Just go to Jes Paul's dying

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<v Speaker 1>to get do Nvidia and you know the Google thing

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<v Speaker 1>and all that. Why is Apple doing Apple TV? It's

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<v Speaker 1>called dad TV because no one watches it. They got

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<v Speaker 1>some product out, they've had some successes, but why waste

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<v Speaker 1>their time on that?

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<v Speaker 2>Yeah? I mean to me, it's really it's all about

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<v Speaker 2>where they're ultimately going to take this. I mean in

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<v Speaker 2>the future. And we'll see as Apple ultimately goes down

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<v Speaker 2>the past with Gemini and in terms of the AI future,

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<v Speaker 2>they need to have as wide of a content lens

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<v Speaker 2>as possible. And I think when you look at Apple TV,

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<v Speaker 2>it's all part of Look, the quality speaks for itself.

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<v Speaker 2>Kuwannie has been the issue. But for them, it's just

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<v Speaker 2>they're going to continue to have irons in the fire.

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<v Speaker 2>That's what they're going to do.

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<v Speaker 1>The TV show Pluribus, it's a sci fi thing. She's

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<v Speaker 1>home all alone. Everybody around her is like a droid surveillance.

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<v Speaker 1>It is great. Why don't you get to video right? Example?

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<v Speaker 3>So, Dan, the AI story here took a little bit

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<v Speaker 3>of return over the last a couple of days. Here

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<v Speaker 3>Meta placing a big chip order with Google, further calling

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<v Speaker 3>to question the position or the dominance position of Nvidia.

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<v Speaker 3>Give us your thoughts about that one.

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<v Speaker 2>I mean, look Google TPU if you especially with wait,

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<v Speaker 2>Broadcom and TSMC is the is the builder that's been

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<v Speaker 2>around for over a decade, right, So it's not that

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<v Speaker 2>it's new per se. I think the issue comes down

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<v Speaker 2>to demand supply from video chips to twelve to one,

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<v Speaker 2>so the reality.

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<v Speaker 3>To supply of Nvidio chips twelve to one.

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<v Speaker 2>So look, when you look at Meta, like, they're not

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<v Speaker 2>going to be able to get everything they need from

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<v Speaker 2>in video, so they got to look outside. When you

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<v Speaker 2>look with googleized, i'd say it's really it's about three

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<v Speaker 2>to four years behind where Nvidio is, but again on

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<v Speaker 2>some certain instances it could be good enough. And look

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<v Speaker 2>at that's where we're going. I mean, the reality is

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<v Speaker 2>when it comes to AMD, when it comes to big tech,

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<v Speaker 2>eventually you gonna see Apple, you gonna see Meta, you're

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<v Speaker 2>gonna see Microsoft. They'll building own chips as well. But

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<v Speaker 2>there's one chip in the world feeling the AI revolution

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<v Speaker 2>that's in video.

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<v Speaker 3>So that's kind of how I thought about yesterday. I

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<v Speaker 3>was kind of surprised to see the cell off in

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<v Speaker 3>Vidio because my thought was all I hear from guys

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<v Speaker 3>like you and technology folks coming in here is that

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<v Speaker 3>the demand for AI is just I'm not saying satial,

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<v Speaker 3>but boy, it's outstripping supply for sure. And you gotta

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<v Speaker 3>get what you can get when you can get it.

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<v Speaker 2>Look, just spending three weeks in Asia, I mean, we've

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<v Speaker 2>seen demand accelerate thirty percent in the last six months

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<v Speaker 2>for AI. So it comes down to like it's easy

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<v Speaker 2>to call say AI is a bubble in the spreadsheet

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<v Speaker 2>and twenty fifty four of New York City office building,

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<v Speaker 2>but when you actually see what's happening there. Look, only

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<v Speaker 2>three percent of enterprise in the US have gone down

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<v Speaker 2>the AI path, None in Europe, Asia, ex China, and

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<v Speaker 2>now you've seen sovereigns in Middle East, and for the

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<v Speaker 2>first time in thirty years, US is headed China. When

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<v Speaker 2>it comes tech on.

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<v Speaker 1>Wall Street, people love to go after you on Twitter.

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<v Speaker 1>It's the close, it's the act and all that underneath it.

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<v Speaker 1>We know, folks, not only Dan Eyes but Webbush, there's

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<v Speaker 1>some prodigious tech chips. Like going to Asia, like actually

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<v Speaker 1>walking in a factory, find out what's going on. Here's

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<v Speaker 1>the reality for our listeners. Our viewers worldwide. April three,

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<v Speaker 1>a leading newspaper just reporting the news. Apple Shells shares

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<v Speaker 1>fell more than nine percent in response to the President's

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<v Speaker 1>plan for steep tariffs on products made abroad. Let as

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<v Speaker 1>sharp set off in tech stocks, which is loaded with technology.

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<v Speaker 1>OMG April thirds sank nearly six percent. Apple is up

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<v Speaker 1>sixty five percent, printing two to eighty yesterday. How do

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<v Speaker 1>our listeners in viewers digest the news in the day

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<v Speaker 1>to day panic and yet stay on board this historic

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<v Speaker 1>American path.

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<v Speaker 2>Look, and we've talked about so much on the show

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<v Speaker 2>over the years, right, I mean, the reality is is

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<v Speaker 2>that there's no bigger consumer install based in the world

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<v Speaker 2>than Apple two point four billion iOS devices, one point

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<v Speaker 2>five billion iPhones. And it comes down besides just the

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<v Speaker 2>cash generating machine everything we see in the services. When

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<v Speaker 2>you look at the AI revolution, Okay, they've looked, they've

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<v Speaker 2>watched it from the stands so far, but now they're

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<v Speaker 2>about to get into the field and actually do it

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<v Speaker 2>and monetize the install based the consumer AI revolution comes

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<v Speaker 2>to Apple, and I think that's something that we're going

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<v Speaker 2>to see with Google Partnership and others and Tom I

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<v Speaker 2>just continue view it as like seventy five to one

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<v Speaker 2>hundred hours per share incremental will be added to Apple

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<v Speaker 2>for AI And that's my view. They've David and also

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<v Speaker 2>look at this iPhone seventeen. It's been a surprise upgrade

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<v Speaker 2>cycle that no one expected with Gemini.

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<v Speaker 1>Is Apple under less pressure to do something this whole

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<v Speaker 1>do something, do something?

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<v Speaker 2>I'd say more pressure, but they couldn't do it till

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<v Speaker 2>Google ultimately won the dojsuit Wednesday won the dojsuit. That's

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<v Speaker 2>where the cando idenner between sun Dar and cook Start.

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<v Speaker 2>And I think that's that ultimately is now where that's

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<v Speaker 2>tracking to what can be a deal that couldn't have

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<v Speaker 2>been until they won that deal. And I think that's

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<v Speaker 2>that's where they're gonna go. They're not buying Purplexity, They're

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<v Speaker 2>going with Google. They're gonna go down bet heavily on them.

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<v Speaker 1>Day I was with Red Bush with us here on

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<v Speaker 1>Wednesday before Thanksgiving? Is you get ready to travel? The

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<v Speaker 1>Horde comes over to the house. We say good morning

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<v Speaker 1>all the different ways you listen to us, thank you

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<v Speaker 1>for discovering Bloomberg's surveillance in two thousand and twenty five.

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<v Speaker 1>Will be here Friday Paul Sweeney your people. It was

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<v Speaker 1>a big argument. People went back and forth. Yes, yeah,

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<v Speaker 1>but we'll be here Friday after Thanksgiving.

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<v Speaker 3>Paul Dan talks us about Meta a little bit. I

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<v Speaker 3>think that's one of the ones the market's unsure of

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<v Speaker 3>as it relates to the AI play.

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<v Speaker 1>There.

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<v Speaker 3>Stocks down about twenty percent from its recent high. Some

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<v Speaker 3>concerns there. How do you position that?

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<v Speaker 2>I think, I mean it's a table pounder by because

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<v Speaker 2>the reason that stocks off is because Zuck right now

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<v Speaker 2>Wartime CEO, focus on increasing capacs over the next year

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<v Speaker 2>in this arms race, and you're and you're seeing obviously

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<v Speaker 2>pressure in terms of earnings and cashle but that's that's

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<v Speaker 2>what you want to see them do. You were talking

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<v Speaker 2>about monetizing the AI revolution over the coming years, the

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<v Speaker 2>three billion users that they basically have when it comes

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<v Speaker 2>to their consumer ECOSYSM, and that's the smart move I

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<v Speaker 2>think right now, investors, it's very easy knee jerk with

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<v Speaker 2>the bury, the AI bubble, all the worries. The reality

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<v Speaker 2>is that there's two more years that Leise left in

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<v Speaker 2>this tech bow market. You're in year three of an

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<v Speaker 2>eight to ten year building. It's truly a fourth industrial revolution,

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<v Speaker 2>and I think meta is going to be proven that

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<v Speaker 2>this is the right move.

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<v Speaker 1>What they're doing in the zeitgeist this weekend is the

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<v Speaker 1>partition that, yes, we appear to be using AI for

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<v Speaker 1>certain stuff. And Paul Sweeney the other day goes, should

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<v Speaker 1>I go with the ocean space cranberry or something homemade,

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<v Speaker 1>you know that kind of stuff, or like task driven AI?

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<v Speaker 1>When do you perceive America makes the shift to a

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<v Speaker 1>more sophisticated use of AI.

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<v Speaker 2>Yeah, it's a great quest. But today it's enterprise. I mean,

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<v Speaker 2>the reality is the consumer AI revolution hasn't started. Chat

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<v Speaker 2>GPT and we see that, but it's all enterprise. I mean,

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<v Speaker 2>the spending we're talking about called next two to three trillions,

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<v Speaker 2>just the enterprise. When it talks about consumer, it's our

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<v Speaker 2>autonomous humanoid robotics. It's the future of the consumer.

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<v Speaker 1>Goddamn robot to make my Cranberry sauce.

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<v Speaker 2>Listen, you're again and I continue to meet the call.

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<v Speaker 2>Keen will be in a ROBOTAXI in.

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<v Speaker 1>The other day into that, I thought lovelow.

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<v Speaker 2>And again you never know, it could be ledlow.

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<v Speaker 3>So all right, let's go to that robotics and all

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<v Speaker 3>that kind stuff. Because that's kind of the story behind

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<v Speaker 3>Teslaly these days, it's not about bending steel and making

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<v Speaker 3>cars and things like that. So the stocks up four

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<v Speaker 3>percent here today, so it's really lagging the market. It's

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<v Speaker 3>come back from I guess the biggest concerns where we

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<v Speaker 3>were several months ago. But when you talk to your

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<v Speaker 3>institutional list or clients, what are they telling you.

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<v Speaker 2>I mean, it's all about the future. I believe Autonomous

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<v Speaker 2>and ultimately optimists are will be the most important chapter

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<v Speaker 2>ever in Tesla's growth story. And I think now must

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<v Speaker 2>being wartime CEO, having the compackage, you know, potentially trillion

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<v Speaker 2>dollar man, this will now define Tesla. And I also

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<v Speaker 2>think you're gonna see a regulatory road map that's going

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<v Speaker 2>to ease when it comes to Autonomous, specifically on the

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<v Speaker 2>Robotaxi build out, you're gonna have thirty thirty five cities.

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<v Speaker 2>And I think WIMA is basically gonna be a round

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<v Speaker 2>the era a relative to where I see Tesla.

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<v Speaker 1>Let's go to our three radio stations. Good Morning ninety

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<v Speaker 1>two nine FM, Boston ninety nine one FM, Nathan Hager

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<v Speaker 1>Radio in Washington here Bloomberg eleventh zero. How is a

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<v Speaker 1>robotaxi get across the Charles River right by Mi T.

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<v Speaker 1>How does a robot get turn left there? And the sport?

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<v Speaker 1>How does a robotaxi get around DuPont Circle? How does

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<v Speaker 1>a robotaxi get down Fifth Avenue right outside the Trump Tower.

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<v Speaker 1>I don't get it.

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<v Speaker 2>Look I mean, do you look at it's it's data driven.

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<v Speaker 2>I mean the reality is is that is.

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<v Speaker 1>Your proof of concept that they can handle normal urban traffic.

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<v Speaker 2>What everything I've seen, and obviously we've been there in Austin,

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<v Speaker 2>You're going to continue to see to expand, you know,

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<v Speaker 2>across many cities over the next few months. I believe

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<v Speaker 2>we're there now. I'm not saying that there's you're going

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<v Speaker 2>to see the geofense area continue to expand. But it's

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<v Speaker 2>my view next few years, twenty percent of cars on

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<v Speaker 2>the road when you're whether it's New York City, whether

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<v Speaker 2>it's Boston, whether it's scott you're gonna look around and

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<v Speaker 2>you're gonna and you're not gonna see a driver enough chat.

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<v Speaker 1>What's your single best buy right now? Is it matter

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<v Speaker 1>or is this something different?

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<v Speaker 2>I mean to me, single best buy writ or is

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<v Speaker 2>Microsoft the relative to what we see in terms of

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<v Speaker 2>the stock, I sit down because the view that now Google,

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<v Speaker 2>now Amazon and others on the hyper scale are gonna

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<v Speaker 2>sort of eat their lunch. Look what's happened to Oracle

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<v Speaker 2>as well? It just look New York City cab driver

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<v Speaker 2>was bearish on Alphabet and Google start the year. Today

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<v Speaker 2>they're barish on Microsoft. And I think that's why that

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<v Speaker 2>has one hundred hour upside.

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<v Speaker 1>Okay on Microsoft just is one example. Are they Open Ai?

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<v Speaker 1>Sam what's his name, Sam Altman?

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<v Speaker 3>Sam Almon?

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<v Speaker 1>Yeah? Are they down because they're affiliated with Sam Altman?

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<v Speaker 2>I think just like, just like Oracle, there's that too

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<v Speaker 2>big to fail concept right where anyone that touches Open

0:11:53.760 --> 0:11:57.560
<v Speaker 2>AI that's ultimately been an overhang. But it comes down

0:11:57.600 --> 0:12:00.520
<v Speaker 2>to like that would be like me being like, Okay,

0:12:00.600 --> 0:12:03.480
<v Speaker 2>if I could have more Peter Luger Steak, would I

0:12:03.600 --> 0:12:05.880
<v Speaker 2>have it? Or would I rather own White Castle?

0:12:08.760 --> 0:12:08.960
<v Speaker 1>Yeah?

0:12:09.040 --> 0:12:11.360
<v Speaker 2>Again, you gotta go Lugers. But the reality is that

0:12:11.520 --> 0:12:15.160
<v Speaker 2>Open AI it's the Peter Lugers of technology. You want

0:12:15.160 --> 0:12:17.760
<v Speaker 2>to be associated with it, not not associated.

0:12:17.760 --> 0:12:20.079
<v Speaker 1>Those are on YouTube. The interns are in our ears.

0:12:20.080 --> 0:12:23.839
<v Speaker 1>We got these holiday interns and Sweeney's interns from Penn State.

0:12:23.880 --> 0:12:27.199
<v Speaker 1>I'm shocked we are. Nobody cares we are. Paul Dan,

0:12:27.520 --> 0:12:29.000
<v Speaker 1>Penn State, go Paul.

0:12:29.240 --> 0:12:30.200
<v Speaker 3>Who's going to be the coach?

0:12:30.240 --> 0:12:30.600
<v Speaker 1>Do you think?

0:12:30.800 --> 0:12:34.040
<v Speaker 2>I mean, look, I think we'll see it probably Monday.

0:12:34.480 --> 0:12:38.000
<v Speaker 2>That was I continue to think it's you know, it's

0:12:38.000 --> 0:12:43.240
<v Speaker 2>either Chesney from JMU that you know, or there could

0:12:43.240 --> 0:12:46.200
<v Speaker 2>be a mystery candidate that will see how that emerged

0:12:46.240 --> 0:12:47.320
<v Speaker 2>over the coming days.

0:12:47.679 --> 0:12:48.560
<v Speaker 1>So I think a big.

0:12:49.880 --> 0:12:57.040
<v Speaker 2>Mystery can no, not no, not no, please we better

0:12:57.160 --> 0:12:59.560
<v Speaker 2>days are ahead for Penn State after a dark year.

0:13:00.400 --> 0:13:03.000
<v Speaker 1>All I ask was, you're such a hitter and you're

0:13:03.040 --> 0:13:05.160
<v Speaker 1>so f one. Next time you go to F one,

0:13:05.640 --> 0:13:10.240
<v Speaker 1>take young John farroll with you. First, I played the.

0:13:12.040 --> 0:13:16.839
<v Speaker 2>Reason I got into F one. It was Netflix and farah.

0:13:16.520 --> 0:13:18.440
<v Speaker 3>Ye yeah, yeah, I mean.

0:13:18.520 --> 0:13:21.880
<v Speaker 1>I mean he wears he's like head to toe in Ferrari.

0:13:22.080 --> 0:13:23.719
<v Speaker 3>Sure, I mean you know, I mean, you know he's

0:13:24.000 --> 0:13:24.679
<v Speaker 3>that's how you roll.

0:13:24.880 --> 0:13:27.800
<v Speaker 1>The whole thing's where's your next F one you're going to?

0:13:28.080 --> 0:13:31.280
<v Speaker 2>I mean I have a few, but uh a few

0:13:31.360 --> 0:13:34.160
<v Speaker 2>on the docket, you know, mid Middle East and and

0:13:34.200 --> 0:13:35.040
<v Speaker 2>some other ones.

0:13:35.720 --> 0:13:38.079
<v Speaker 1>Dan, I was thank you to extended a conversation a

0:13:38.120 --> 0:13:40.760
<v Speaker 1>lot of good information there with his single best buy,

0:13:41.240 --> 0:13:43.120
<v Speaker 1>The Gentleman from Microsoft