Squawk on the Street SOTS 10AM: Ray Dalio on AI, Ken Moelis Sees Trillions in Value Ahead, Why Microsoft Popped 10/28/25
Oct 28, 2025
Ray Dalio, founder of Bridgewater Associates, shares insights on macro risks, sovereign debt, and his concerns about a bubble in the AI market, likening it to the 1920s. Meanwhile, Ken Moelis, executive chairman of Moelis & Company, discusses the booming M&A landscape and the potential for massive investments in Saudi Arabia's AI sector. They explore the risks of wealth concentration and the impact of political polarization on markets, while also highlighting the impressive valuation surge in Microsoft and its implications for tech investment.
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Training Versus Inference Competition
- Qualcomm argues training and inference are separable: train on NVIDIA, run inference on Qualcomm.
- The company believes inferencing scale enables competitors despite NVIDIA's lead in training.
AI Dominates Conversations At FII
- Sara Eisen reports AI dominates conversations at FII with finance and tech leaders attending.
- She previews Ray Dalio, Ken Moelis, Evan Spiegel and others who are speaking at the summit.
Be Selective In The M&A Rush
- Ken Moelis advises caution despite an M&A boom setup and abundant capital for data centers.
- He recommends careful deal selection because not everyone will win in the AI-driven buildout.
