NVIDIA's data center numbers are 'Michael Jordan-like,' with growth significantly above expectations. Their $500B Blackwell/Rubin roadmap is conservative, and the stock should be up significantly in coming weeks/months.
Asks how to size up NVIDIA vs. AMD, given AMD's increased cadence of announcements.
Host
Dan Ives
NVIDIA is the 'one chip in the world fueling the AI revolution.' AMD will get 15-20% of the market over coming years but is like a passenger on a smooth flight, while NVIDIA is flying the plane.
Notes that Dan Ives and others are lifting price targets. Questions if NVIDIA's expansion beyond 5-6 vendors is assured or a risk factor.
Host
Dan Ives
Customers have no choice but to use NVIDIA, especially for physical AI/robotics, supporting 75% gross margins. Competition will emerge over 5-10 vendors in 3+ years, but NVIDIA is the 'Godfather' for the next 18-36 months.
Asks about conversations with tech clients regarding the threat AI poses to software vendors, whose stocks have been hit hard.
Host
Dan Ives
The sell-off in software is the 'most disconnected trade' he's seen. Software (Salesforce, ServiceNow, Microsoft) is the 'hearts and lungs' of AI data/use cases; the idea that they will be unseated is a 'fictional tale.'
Suggests hedge funds should see this as a once-in-a-lifetime buying opportunity for software names.
Host
Dan Ives
The actual conversation is the opposite: everyone is still running from software to semis. Compares it to being negative on Aaron Judge after one week. Views software as a 'generational opportunity.'
Switches to Apple, asking about the product refresh this year.
Host
Dan Ives
Apple will release lower-cost iPhone models and start to 'tip-toe into AI' with Siri AI in 2025/2026, leading to iPhone 18. Declares, 'Google in 2025 will be Apple in 2026.'