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Speaker 1: Earners. What's up.

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Speaker 2: by P and C Bank, a lot of people think

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Speaker 2: P and C Bank National Association Member FDIC.

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Speaker 3: Main topic of today with tech stocks crashed, specifically chip stocks,

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Speaker 3: Nvidia down fifteen, SMH down tremendous amount ASML down, TSM

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Speaker 3: down tremendous amount, so in a in a very short

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Speaker 3: period of time, and there's been a lot of people

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Speaker 3: that have said that AI bubble wouldin at some point,

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Speaker 3: Mike Novegrats being one of them, saying that not artificial

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Speaker 3: intelligence wasn't real, but it was overpriced, overhyped, and it

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Speaker 3: was going to be a catalyst at some point in

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Speaker 3: time to kind of bring things back to the level

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Speaker 3: of reality.

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Speaker 4: So this deep.

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Speaker 3: Seak thing comes out and shoots to the app top

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Speaker 3: of the app store overnight, pretty much a Chinese app

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Speaker 3: company that, yeah, they said, achieved workable function at a

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Speaker 3: very high level, something say, even better than open Ai

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Speaker 3: for six million dollars, a fraction of the cost of

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Speaker 3: the billions of dollars that has been poured into all

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Speaker 3: of these companies, including open Ai, and it shakes the

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Speaker 3: whole industry and thinks makes people think that yeah, maybe

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Speaker 3: not that Nvidia is not valuable company, but maybe their

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Speaker 3: products are over hyped and overvalued as far as how

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Speaker 3: much money is being poured into the space. And then

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Speaker 3: for other companies that have not even done anything yet

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Speaker 3: but still have been able to raise a bunch of

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Speaker 3: money from venture capital. So all of these chip stocks

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Speaker 3: are down drastically. So, like I said, even if they're

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Speaker 3: forging the numbers a little bit or it's not, it

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Speaker 3: definitely speaks to some level of pestimism. That people have

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Speaker 3: been talking about talking about this for a while, as

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Speaker 3: far as the Ai bubble, for at least eighteen months.

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Speaker 3: So I don't think that these companies just disappear overnight.

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Speaker 3: But the question that everybody has is okay? Is this

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Speaker 3: a sign of what's to come? Is this now? This

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Speaker 3: is a reset and it's going to be just a

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Speaker 3: lot slower growth for these companies. Is it a good

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Speaker 3: time to buy the companies? That's the next question as well.

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Speaker 5: Yes, shameless plug, go toeininvest dot com. If you want

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Speaker 5: to know where to get into the market, where to

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Speaker 5: get out. I put this price in it, I think

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Speaker 5: two weeks ago for in video. As far as it

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Speaker 5: being a reset, the top two or three players in

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Speaker 5: the space will remain that they will be dominant.

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Speaker 6: But I think and I don't want.

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Speaker 5: To be flippant about the deep seek allegation, but I

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Speaker 5: want to be clear, it's almost okay if you run

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Speaker 5: it through their model. Can't wait for the mass of mind,

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Speaker 5: because I'm gonna show you some of the prompts that

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Speaker 5: I use for investing. The mathematical probability of being able

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Speaker 5: to get this compute out of six million dollars is

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Speaker 5: zero point zero zero zero zero one percent probability.

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Speaker 6: So not me.

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Speaker 5: That's their own tech. When I ran my model based

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Speaker 5: on capex of other companies, Now is their AI bubble?

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Speaker 5: I think there's a lot of companies that don't have

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Speaker 5: any real AI yet have acted like they do and

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Speaker 5: they're gonna fall apart.

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Speaker 6: So yes, but will in video be fine?

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Speaker 1: Yes?

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Speaker 6: Meta be fine, yes, Will Oracle be fine? Yes? Will

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Speaker 6: AMD be fine? Yes?

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Speaker 5: And a lot of people who kept calling for this

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Speaker 5: AI bubble are people who missed out on buying in

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Speaker 5: video the same dirty Mac and Elon did over that

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Speaker 5: Stargate project we got stolen from Microsoft, and he's mad

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Speaker 5: because he didn't get part of that spend. So in

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Speaker 5: order for Deep Seek to be great, let's just go

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Speaker 5: through some of them and say that they are better.

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Speaker 5: They got to be open AIH one oh one Mini, Gemini,

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Speaker 5: Gemini one point five, Claude, Novapro, Lama three and three

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Speaker 5: point three, GPT four point zero, gp T four oh Mini.

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Speaker 5: It's a lot of competition. So is the AI bubble

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Speaker 5: over hyped? I think there are too many companies who

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Speaker 5: attest themselves to be AI facing and they weren't in

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Speaker 5: And also too, it's a conversation about interest rates that

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Speaker 5: people are afraid of, and I think this just took

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Speaker 5: the leadership cycle. And for everyone who said you found

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Speaker 5: the next quant company, why are you afraid of deep

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Speaker 5: seeks quantum is superior. If you found the quant company

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Speaker 5: that are going to rule the next twenty years, why

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Speaker 5: are you asking me if you should sell off your

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Speaker 5: quant position because of deep seek?

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Speaker 6: It makes no sense.

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Speaker 2: I think the on this, Yeah, I think the question

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Speaker 2: that they can you create innovation without advanced hardware?

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Speaker 1: That's that's the question, right, Like is it? Is it possible?

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Speaker 2: And so when we're talking about advanced hardware, you're talking

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Speaker 2: about the nvidios, you're talking about the broad coms, you're

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Speaker 2: talking about the AMDs, you're talking about the micro Like

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Speaker 2: that's advanced hardware now? Is in video over hyped? I

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Speaker 2: can't use the word overhype because they're still going to

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Speaker 2: be necessary. Even for deep Seat. If you look at

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Speaker 2: how it's built, it still needs the GPUs. Does it

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Speaker 2: need many GPUs is the real question. But you're still

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Speaker 2: gonna need them. And so that that's the first thing,

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Speaker 2: And then it's is this a war to who's first?

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Speaker 1: Right?

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Speaker 6: Absolutely?

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Speaker 2: So, like if China is saying like, hey, we have

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Speaker 2: this company and we can do it for this efficiency,

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Speaker 2: then when you try to use it today, why can't

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Speaker 2: we use it?

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Speaker 1: If it's a global thing?

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Speaker 6: Right?

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Speaker 1: So, like that.

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Speaker 2: There's that part of it, and then it talks about

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Speaker 2: efficiency from our standpoint, like I said, think about the

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Speaker 2: amount of money that has been allocated. Last week we

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Speaker 2: talked about five hundred billion that was for AI expansion,

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Speaker 2: data centers and everything adjacent to it.

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Speaker 1: Energy.

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Speaker 2: We saw a VISTA go down today, We saw a

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Speaker 2: vr T move down today, we saw GeV move down today.

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Speaker 2: All these are energy components, broadcom connectivity average, all these

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Speaker 2: things pulled down because of.

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Speaker 1: This quote unquote efficiency. The other thing is this man

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Speaker 1: people want new buying points.

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Speaker 2: All right, like the market has to falsil people can

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Speaker 2: buy in absolutely. If deep Seat was created in December

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Speaker 2: of twenty twenty three, if it was disufficient, Is it

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Speaker 2: coincidental that it is? This announcement is happening after all

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Speaker 2: those everybody's said that they're going to have their cap backs,

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Speaker 2: and it's the same week of these max seven earnings.

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Speaker 2: Metas reporting this week, Apple's reporting this week, Microsoft reporting

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Speaker 2: this week, and two weeks in video B reporting, big

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Speaker 2: companies reporting with their numbers and what they've been spending.

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Speaker 1: Coincidental? I don't know so.

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Speaker 5: And the real conversation is were they able to get

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Speaker 5: some of those GPS in China that they were not

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Speaker 5: supposed to get in for their infrastructure.

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Speaker 6: Now that's the conversation that needs to be had.

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Speaker 1: Oh during the.

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Speaker 3: Band, Well, the thing about it is that you never

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Speaker 3: buy stocks at all time highs facts, so that stocks

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Speaker 3: always pulled back for one reason or another. Yeah, but

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Speaker 3: there's a difference between a pullback and a reset because

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Speaker 3: a reset you can actually just reset the whole landscape

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Speaker 3: and it can change potentially forever, as opposed to a

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Speaker 3: pull back, which would just pull back for the second

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Speaker 3: then just go back to things as normal. So we'll

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Speaker 3: think the question is will things be as normal or

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Speaker 3: will it be a reset in the space. Like I said,

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Speaker 3: I don't think anybody isn't thinking video is not going

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Speaker 3: to be here anymore? But will it be a reset

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Speaker 3: in the space where chip stocks will not be leading

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Speaker 3: like they were.

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Speaker 6: And in the cycle of America?

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Speaker 5: What could replace it? That's a great question. But what

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Speaker 5: will replace it? I think in videos here to stay MD,

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Speaker 5: I think it's going to have a monastery or but

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Speaker 5: what when people talk sector rotation and some people were

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Speaker 5: bank is doing better, I'm like, you're not going to

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Speaker 5: go by bank of a I mean, shot to Brian

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Speaker 5: one hand, an amazing person. You're buy a Bank of

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Speaker 5: America over AMD. Like AMD is neck and neck with

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Speaker 5: Apple in terms of returns over the last five years.

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Speaker 5: It's not talked about because of what sector they are,

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Speaker 5: So would that be a reset I've been really big

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Speaker 5: on I don't think the energy companies are going to

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Speaker 5: do what they did last year. So in video will

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Speaker 5: do well, MDA do well, Metal will do as a result,

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Speaker 5: Tesla will do well. They have a lot of compute

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Speaker 5: over there as well. But everyone just slapping AI on

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Speaker 5: their stock to make the value go up.

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Speaker 6: Yet it's over with.

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Speaker 2: I'm on the record saying I believe energy will do well.

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Speaker 1: Will it have fifty sixty games?

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Speaker 6: We know I can call that.

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Speaker 1: Will it do well? Yeah?

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Speaker 2: From the standpoint of what we're talking about efficiency, how

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Speaker 2: do we make energy more efficient if we know that

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Speaker 2: it's going to cost us this amount to have this

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Speaker 2: type of compute, and not just in the GPU space,

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Speaker 2: but if you're even talking about in the crypto space

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Speaker 2: as well, Like that's still requires energy to run at

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Speaker 2: its highest and most efficient capacity. So like, even like

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Speaker 2: I said, like when I talked about this data center,

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Speaker 2: revolution like they originally with house too and they were

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Speaker 2: mining bitcoin right when you saw how much energy it took.

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Speaker 2: We have to create more efficient ways to have connectivity, uh,

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Speaker 2: to have coolant, all that is inside of it now

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Speaker 2: obviously with AI being at the forefront. Yeah, it's a

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Speaker 2: dual purpose in a sense where like, hey, we need

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Speaker 2: it for this too. So I still think energy is

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Speaker 2: going to be a story this year.

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Speaker 3: So okay, so let's let's speak even a little bit

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Speaker 3: clearer for the people. What stocks do you think would

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Speaker 3: be a.

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Speaker 6: Good boss and video meta?

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Speaker 4: All right, listen, lest let's listen, right, let's go a

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Speaker 4: little deep.

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Speaker 6: Amd.

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Speaker 3: I'm you know, I'm I'm an advocate for the for

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Speaker 3: the for the people, and I know I know what

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Speaker 3: the people will say. So what's the stocks that are

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Speaker 3: not in the mag seven? Look, Troy, because you've championed

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Speaker 3: a lot of these other the companies. So these companies

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Speaker 3: that are not in the mag seven are you? Are

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Speaker 3: you still confident about these companies? Are you starting to

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Speaker 3: feel a little bit nervous?

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Speaker 1: No, I'm still confident.

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Speaker 3: All right, Which which of these companies would you be

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Speaker 3: enthusiastic about now? Tomorrow morning? Bying because all of them

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Speaker 3: are down like we.

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Speaker 1: Got I'm still in TSM. That's not a max.

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Speaker 4: I'm talking about the VSTs.

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Speaker 1: What you said, max seven?

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Speaker 4: Okay, the lower the lower ran.

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Speaker 1: The v yeah, I actually you Yeah.

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Speaker 2: So I went shopping even a right like so when

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Speaker 2: and again it's one of these mindset things, right we

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Speaker 2: see a pull back like that. I woke up, I

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Speaker 2: saw Nastak was down in angel punts. I'm like, all right,

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Speaker 2: we already have some some money in reserves. Now let's

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Speaker 2: see if we can get some of these price points

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Speaker 2: that we were saying prior to. And so when I

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Speaker 2: saw VST get down to a number, I was like, oh,

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Speaker 2: it had ran up to one ninety nine last week.

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Speaker 1: I'm like, damn, it might have outran me. I saw

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Speaker 1: go back down to one. I'm like, all right, well,

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Speaker 1: it's back in the range where I wanted to get

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Speaker 1: it at. So I went shopping.

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Speaker 2: I did grab some VSD because again, I still think

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Speaker 2: energy is going to be a story. We spoke about

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Speaker 2: this on the Thursday call about a company that I

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Speaker 2: mean we if we if we look at his chart

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Speaker 2: over the past six months, uh, and we look about

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Speaker 2: the story in AI.

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Speaker 1: It pulled back to a pointment.

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Speaker 2: I'm like, all right, down at one ten, let me

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Speaker 2: let me go grab some let me go grab some

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Speaker 2: some contracts down there. And that is a h Aresta

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Speaker 2: networks an e t uh. And so I think the

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Speaker 2: story stays the same for at least twenty twenty five

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Speaker 2: for sure. But again when we when we do these contracts,

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Speaker 2: I'm going you know, out a lot further with maximum

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Speaker 2: potential growth, right, and so.

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Speaker 4: So you're still confident on your companies.

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Speaker 2: I'm still in all I actually went shopping today. I'm

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Speaker 2: be honest with you. I went shopping, and what'd you buy?

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Speaker 2: I'll show you you want to see it. So I bought,

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Speaker 2: I bought more. I bought VST because it got to

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Speaker 2: a point. I bought VRT right again energy as well,

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Speaker 2: and talking about cooling for the data centers. So I'm

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Speaker 2: still in the data center revolution. I got more contracts

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Speaker 2: on TSM because that's pulled back. I already had the

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Speaker 2: one oh five that I exercised, and I talked about

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Speaker 2: that on the.

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Speaker 1: Class I had a one eighty.

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Speaker 2: We went down and got some more down at the

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Speaker 2: one ninety five range, and I got one more.

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Speaker 1: I don't even know if it got filled, I'll chat,

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Speaker 1: I'll feel you in.

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Speaker 2: And when I opened up my brokers, but I definitely

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Speaker 2: got those three for sure, and then I had one

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Speaker 2: that was just pending.

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Speaker 6: And now I'll play Devil's advocate to my own position.

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Speaker 5: The threat the Deep Seak does pose is open source.

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Speaker 5: But what happens when Trump knocks on somebody's door, maybe Elon's,

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Speaker 5: and say, hey, make grock Ai open source so we

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Speaker 5: don't have to deal with this threat in China than

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Speaker 5: what Deep seek.

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Speaker 6: You're screwed. I'll wait to the second hour.

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Speaker 5: Thank you to the families in their parents to watch

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Speaker 5: the kids, love you you.

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Speaker 1: My fourth one was Palo Alto. I bought more.

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Speaker 4: But they do have an advantage of education.

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Speaker 6: They have smart people a thousand percent, and they have.

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Speaker 3: A unified government. They have they have a lot of it.

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Speaker 3: So you can't just count You're right, can't count them out.

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Speaker 2: No, I'm not counting it out because it's either a

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Speaker 2: couple of things are gonna happen, right, Like either American

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Speaker 2: company is gonna say, hey, they're onto something and we've

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Speaker 2: got this wrong and they have to cut back spending, right,

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Speaker 2: But then that spending is going where Right, These are

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Speaker 2: the cappex numbers already for twenty twenty five, So this

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Speaker 2: money is already been allocated out right by the time

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Speaker 2: we see it, It's already been spent, right. So like

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Speaker 2: when in video reports, my meta has already spent the

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Speaker 2: money with them, right, Like Microsoft has already spent the

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Speaker 2: money with them by the time we see the report.

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Speaker 2: So what does that look like for twenty twenty six?

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Speaker 2: We gotta we gotta really mind to this.

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Speaker 5: We'll see and you know who didn't have all these

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Speaker 5: capex in Ai Manzana. My favorite investment move is when

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Speaker 5: people get to picture me things that I'll need. Let

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Speaker 5: me wait three months to six months to see if

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Speaker 5: I still want it. Apple is on fire today as

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Speaker 5: a result, and the thing is too, And I keep

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Speaker 5: strussing this. It's not the sexy media answer. A lot

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Speaker 5: of you needs to stop chasing the next new thing

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Speaker 5: week to week. I just thought, y'all loved Quantum and

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Speaker 5: that bullshit collection of stocks.

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Speaker 6: Storry to the.

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Speaker 1: Parent, Sorry to the parent, like yo, what do we like?

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Speaker 6: Yeah?

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Speaker 2: But even Apple pulled back right, like this is what

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Speaker 2: I'm saying, Like we saw Apple run up to two

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Speaker 2: fifty three. We spoke about it, like what's the innovation?

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Speaker 2: It pulls back down to two twenty five, and people

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Speaker 2: are like, well, I don't know. Yeah, I don't know,

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Speaker 2: but I mean it's a big week for Apple the

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Speaker 2: long term. Yeah, obviously long term vision. You're looking at

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Speaker 2: this as a great opportunity for a bypoint, but this

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Speaker 2: is a big week for Apple. We'll see what happens.

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Speaker 6: I agree with your point.

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Speaker 5: The only thing in the SWAT analysis that we have

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Speaker 5: to remember is that their own leadership are keeping They

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Speaker 5: have some amazing companies that are publicly traded, and they've

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Speaker 5: kept them quiet the last three years.

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Speaker 6: I don't think they're gonna let this from flourish.

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Speaker 7: An illegal alien from Guatemala charged with raping a child

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Speaker 7: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 7: accused of murdering a Texas. Man of Venezuelan charged with

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Speaker 7: filming and selling child pornography in Michigan. These are just

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Speaker 7: some of the heinous migrant criminals caught because of President

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Speaker 7: Donald J. Trump's leadership. I'm Christy Noman, the United States

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Speaker 7: Secretary of Homeland Security under President Trump, attempted illegal border

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Speaker 7: crossings are at the lowest levels ever recorded, and over

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Speaker 7: one hundred thousand illegal aliens have been arrested. If you

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Speaker 7: are here illegally, your next you will be fine nearly

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Speaker 7: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 7: never return. But if you register using our CBP home

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Speaker 7: app and leave now, you could be allowed to return legally.

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Speaker 7: Do what's right, leave now. Under President Trump, America's laws,

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Speaker 7: border and families will be protected.

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Speaker 6: Sponsored by the United States Department of Homeland Security,