Bloomberg Surveillance
Bloomberg Surveillance TV: August 28, 2024
Aug 28, 2024
Angelo Zino, a Senior Equity Analyst at CFRA Research, delves into Nvidia's strong earnings and growth potential in AI technology. Jon Lieber, Head of Research at Eurasia Group, discusses the delicate balance of U.S.-China relations amidst ongoing diplomatic talks and the implications for national security. Daan Struyven, from Goldman Sachs, reveals a revised outlook for oil prices amidst OPEC+ concerns, while addressing the financial resilience of U.S. shale producers and their influence on future market dynamics.
19:38
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Quick takeaways
- Nvidia's upcoming product diversification, including Blackwell chips and Spectrum X Ethernet, aims to solidify its competitive position in the data center market.
- U.S.-China trade dynamics are heavily influenced by ongoing discussions between national security leaders, focusing on communication amidst rising geopolitical tensions.
Deep dives
Market Indicators and Trends
Key market indicators, such as data center capital expenditures (capex), are showing signs of both growth and impending deceleration. While initial projections for 2024 indicate a 35 to 40% growth among major investors in data centers, it is expected to soften to about 15 to 20% by 2025. This shift raises important questions about sustainability, particularly highlighted by Nvidia's recent performance, which saw data center growth of over 400% in earlier quarters, but is anticipated to slow down significantly. Moving forward, analysts suggest that while the market won't see an outright drop in spending, sharp deceleration is likely as growth trends normalize.
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