Bloomberg Daybreak: Asia Edition Investors Eye Nvidia Earnings, Bloomberg's New Economy Forum Kicks Off
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Nov 19, 2025 Jed Ellerbroek, Portfolio Manager at Argent Capital Management, shares insights on Nvidia's upcoming earnings, discussing AI infrastructure demand and market concentration risks. Bob Diamond, former CEO of Barclays, explores the implications of AI on markets, highlighting risks of repricing and the role of stablecoins in institutional investing. The conversation also touches on private equity opportunities in the finance sector and the challenges posed by tech market volatility and emerging competition from Chinese firms.
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NVIDIA Is Driving The AI Infrastructure Wave
- NVIDIA continues to grow rapidly with enormous demand and a wide competitive advantage in AI infrastructure.
- Their products are the backbone enabling the current AI revolution to unfold.
Circular Deals Backed By NVIDIA Cash Flow
- Circular financing among AI players exists but is funded largely by NVIDIA's strong cash flow and debt-free balance sheet.
- Jed Ellerbroek sees these investments as seeding the ecosystem and generally prudent for NVIDIA.
Watch Who's Borrowing For AI Build-Outs
- Monitor hyperscalers' financing: many remain net cash but some, like Oracle and CoreWeave, are more leveraged.
- Recognize that a portion of next year's AI build-out may be debt-financed, raising credit considerations.