Deirdre Bosa from CNBC's Tech Check joins for a chat on tech trends and finance. They discuss AI excitement in Silicon Valley, NVIDIA's market cap growth, Amazon's AI strategy, Apple's potential AI hardware announcements, and challenges of generative AI startups. The conversation also covers the impact of interest rates on the tech market, PwC's partnership with OpenAI, and the varying AI models available to consumers.
Startups prefer private funding over going public despite tech market highs, focusing on AI growth.
PwC's collaboration with OpenAI for enterprise AI tools hints at AI's evolving monetization potential.
Deep dives
Current Revolutionizing Traditional Banking
Current, a FinTech company, is disrupting traditional banking by offering easy-to-use financial management tools through a single app, eliminating the need for physical bank visits.
Tech Market Trends and NVIDIA's Surge
The tech market is booming, with NASDAQ hitting all-time highs, led by major tech companies like NVIDIA, gaining billions in market cap. Despite market highs, startups are hesitant to go public, preferring private funding with notable growth in AI technologies.
Apple's AI Strategy and Market Performance
Apple's AI strategy and potential market impact are under scrutiny as the company faces valuation challenges and questions regarding its generative AI approach. The focus is on introducing innovative AI features to sustain market growth and leverage their extensive user base.
PWC and Open AI Collaboration
An interesting collaboration between PriceWaterhouseCoopers (PWC) and Open AI sees PWC adopting Chat PwC - a large-scale enterprise version of generative AI, aiming to enhance services and productivity for their extensive employee network. The partnership raises questions about Microsoft's absence and the evolving landscape of AI monetization.
Dan Nathan and Guy Adami are joined by Deirdre Bosa, host of CNBC's Tech Check, for an engaging discussion on the latest trends in tech and finance. The episode kicks off with a market overview, highlighting NASDAQ's new highs and the S&P's performance, while also touching on the impact of interest rates on tech valuations. Deirdre shares insights on the excitement surrounding AI in Silicon Valley and the reluctance of startups to go public despite market highs.
The conversation then shifts to the "Magnificent Seven" tech stocks, with a particular focus on NVIDIA's staggering market cap growth and its role as a proxy for AI investments. The trio delves into Amazon's AI strategy and its profitability push under Andy Jassy, as well as the resurgence of old tech companies like Dell in the AI hardware space. Speculation arises about Apple's potential AI hardware announcements at WWDC and the challenges generative AI startups face in monetizing their investments in NVIDIA chips. The discussion also covers the different AI models available to consumers and the potential for commoditization in the AI space. Guy raises questions about the relevance of monetary policy and interest rates on the tech market, with Deirdre providing insights from her perspective. The episode also touches on PwC's partnership with OpenAI and its implications for the enterprise Gen AI market.