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Bloomberg Talks
Steve Eisman Talks AI, Interest Rates
May 7, 2024
Steve Eisman, Neuberger Berman Senior Portfolio Manager, discusses AI chips in Apple phones, crypto skepticism, and Federal Reserve rate cuts. He also explores AI's impact on tech budgets and provides predictions for the upcoming presidential election.
08:46
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Quick takeaways
- Investing in AI chip companies for electricity demand profit
- Federal Reserve rate decisions have minimal impact on infrastructure and AI adoption
Deep dives
Stocks Gaining from AI's Power Needs
Investing in companies that contribute to artificial intelligence's electricity demands can be lucrative. GPUs currently consume three times more power than CPUs, straining the US grid and leading utilities to increase their CapEx budgets. Companies like Quanta, specializing in engineering for utilities, stand to benefit from this trend. Steve Eisman sees AI and infrastructure as key themes shaping the future, contrasting his skepticism towards crypto.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode