Nightly Business Report

Nvidia will buy open-source AI platform Hugging Face for nearly $13B. BofA's Vivek Arya says that will extend Nvidia's sphere of influence well beyond Silicon. Meanwhile, ChatGPT, Claude, and Grok all experienced outages in the morning--former Marine Corps. hacker David Kennedy says while that can be attributed to new models causing massive usage spikes, there could also be other, more sinister, factors at play. Plus, a Kansas union leader on why he broke with tradition, aligning with Republicans on data centers in the state. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

As West Virginia says ‘yes' to data centers, Governor Patrick Morrissey is focused on clean water and keeping energy costs low. Steve Jobs biographer Walter Isaacson wants Apple to get back to its roots under its new CEO, creating devices that bring humans closer to the machines and intelligence they use. Plus, trader Jeff Kilburg says, despite a potential rate hike, stocks won't experience a September swoon. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Investor Barry Knapp makes the case for a Fed rate cut with global yields back on the rise. FTC Andrew Ferguson on the agency's new lawsuit against Amazon. Plus, an officer from electrical workers union, I.B.E.W., Local 26, tells us why data centers are “the best opportunity in generations for blue-collar workers to attain a portion of the American dream.” Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The US striking Iran for the first time in a month as the G20 kicks off and Secretary Bessent says the administration can keep the pressure on without China's help. Colorado AG and Democratic gubernatorial candidate Phil Weiser on his plan for data centers. Plus, Sarat Sethi's leader-to-laggard pick for the second half has already surged nearly 60% since July. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed Chair Kevin Warsh striking a hawkish tone in his first speech at Jackson Hole, saying there's more work to do on inflation and former Boston Fed President Eric Rosengren agrees. Peterson Institute's Adam Posen calls the Treasury's increased bond buybacks “nuts.” Plus, off-price retail is on-target, according to Bank of America. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The AI trade roaring back on the heels of Nvidia's blowout earnings and strong guidance. Connecticut Governor Ned Lamont on the state's suit against Kalshi, the impact of Canadian tariffs, and how to lower energy costs for New Englanders. Plus, Anthropic's Dario Amodei reassures the software industry, “we're not interested in destroying anyone.” Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The key metrics to watch in Nvidia's earnings—and why a guidance hike could be on the way. As oil prices continue to fluctuate amid Middle East tensions, RBC's Helima Croft is concerned about a different commodity ahead of cooling temperatures. Plus, unsealed court documents reveal the Fed, the Senate, the Deptartment of Justice, and NASA were just some of the federal agencies hacked by a Chinese state-sponsored group. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A former Disney executive's warning for media M&A as Paramount's takeover of WBD sits in limbo. Technician Katie Stockton returns to discuss Bitcoin's recent rally after calling the bounce last week. Plus, sports superagent Drew Rosenhaus on his client's, former NFL player Dae'Quan Wright, decision to return to college football.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Wall Street Journal's Greg Ip joins us to discuss whether U.S. Treasurys are losing their safe haven status after Treasury Secretary Bessent's buyback plan. Plus, Guggenheim's Simeon Siegel is here with his retail outlook after a big earnings week. And Pantera Capital's Cosmo Jiang weighs in on bitcoin's big week and the other big headlines in the crypto space. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Former OMB Director Mitch Daniels on the Trump administration's fiscal policy fight. Five-star fund manager Matt McLennan says despite the rising bond risks, investors should broaden their holdings, rather than get bearish. Plus, why Stripe could stay private for the long-term.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Yields around the world hitting multi-decade highs as bond vigilantes go to work. The Verge's Nilay Patel says Meta's federal child-harm trial is the social media platform's “Microsoft moment.” Plus, Anthropic pulls back the curtain on its financials as it prepares to go public.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The retailer Morgan Stanley says could go from laggard to leader in the second half. After the 2020 clamp down, can China woo tech investors back? Plus, the bullish set-up for Bitcoin.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Semis are in a bubble, according to Citi's indicator. Former Assistant AG Jonathan Kanter on prediction markets' legal hurdles. Plus, the disconnect between investors and developers when it comes to data center moratoriums.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The benchmark index crossing 7,800 for the first time ever as new inflation data comes in softer than expected. Plus, early Facebook investor Roger McNamee calls Meta CEO Mark Zuckerberg's AI manifesto a piece of science fiction. And Anthropic is inking a deal with ERock to power their AI infrastructure. We speak exclusively with ERock's CEO about the agreement. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nvidia just lined up $500 billion in funding from some of the biggest financiers in the world. Does this mean compute is now its own asset class? Plus, analysts warn the Iran war could merge with the Russia-Ukraine war. Could the US end up pulling out of the Middle East altogether? And existing home sales dropped in July. Are buyers starting to get the upper hand?  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Sticky inflation has Bank of America predicting 75 basis points of Fed hikes this year. Acting FDA Commissioner Kyle Diamantas on a rule change for ingredients and the ongoing foodborne illness outbreaks. Plus, the name trader Jeff Kilburg is buying on the dip.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Does July's weak jobs report change the Fed's rate path? OpenAI is pausing the rollout of its upcoming model due to “cyber capabilities.” Plus, the data center economy and the three sectors our market guest is bullish on because if it.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Sandisk and Western Digital drop following results. We look at how position within the memory trade. Plus, Alphabet has to make a tough decision between AI talent and cloud computing dominance. And we're counting down to tomorrow's jobs report with a look at hiring and the labor market. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

One of Wall Street's first SpaceX bears joins us on the heels of the company's debut quarterly results. Anthropic's Mythos makes headlines for its bad behavior. And two prominent voices in the business world see a path toward 3 rate hikes this year. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Another batch of strong earnings powering the Dow and S&P 500 to record highs. Oil prices fall after Treasury Secretary Bessent told CNBC we may have a deal “today or tomorrow” on the Strait of Hormuz. And our panel debates whether we're in a K-shaped or a C-shaped economy. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Evolution in the AI trade. A rise in long-term global bond yields. And the key names to watch this week.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The bullish case for the AI capex spenders, rather than the receivers. Cybersecurity expert Ivan Tsarynny's AI warning after Anthropic discloses three of its models breached their testing environments. Plus, Brookings' Robin Brooks on how the market has corrected its misreading of the June Fed meeting.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Semis on the upswing after a rough couple of sessions, but should investors trust the bounce in the momentum trade after what BTIG calls the largest/fastest crash in modern history? JPMorgan's Michael Feroli slides his rate hike timeline from the second half of 2027 to December after Kevin Warsh evades some reporter questions in his second news conference as Fed Chair.  Plus, why the war in Iran could last through the midterms.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kelly Evans and Brian Sullivan go to Washington, DC to sit down with leaders from the White House to the C-Suite ahead of the Federal Reserve's interest rate decision. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Ukrainian President Zelenskyy and Israeli Prime Minister meeting separately with President Trump at the White House as the wars in Iran and Ukraine become more entwined. Susquehanna's Mehdi Hosseini says memory prices are nearing a ceiling, and that leadership in the space will come down to ‘hand-to-hand combat' now that the ‘easy money' has been made. Plus, Gabelli Co-CIO Chris Marangi's under-the-radar AI trade.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Four of the Mag 7—Apple, Amazon, Meta, and Microsoft—report this week, our experts get you ready. Former Nasdaq CEO Bob Greifeld makes the case for AI regulation sooner than later, and draws a page from the SEC's playbook. Plus, China's most valuable company is also its best chance at homegrown AI chips.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Intel's massive quarter not enough to boost chip stocks. AI spending concerns cropping up in both the equity and the credit markets--and that could be good for Apple. Plus, the bullish options action ahead of the busiest week of this earnings season.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tech under pressure as oil prices climb and yields touch multi-year highs, on top of Alphabet hiking capex for the second quarter in a row, adding to AI spending concerns. And there could be more pain ahead, at least in the short-term, according to BTIG's Jonathan Krinsky. Plus, one company's pivot to pets.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In his first CNBC appearance in nearly two years, billionaire John Paulson, alongside NovaGold Chairman Thomas Kaplan, reveals why he's staying focused on gold. Capex the main focus of Alphabet's Q2 earnings, and one analyst expects it to top $300B in 2027. Plus, “I can't believe we're living in this right now. It's insane,” says a former Marine Corps hacker about OpenAI's Hugging Face breach. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Bank of America reminds investors that “open source” AI models don't mean “free,” and that concerns about memory stocks are overblown.  With $77 billion in AI related-debt raised in June, should investors prepare for another credit boom/bust cycle? Plus, the Pentagon asks for $67 billion in immediate funding as the war in Iran drains coffers. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Alphabet, Intel and ServiceNow report this week. There are fewer than 20 legislative days until the midterm elections and Pimco's Libby Cantrill says Congress has a lot of work to do. Plus, a two-time former FDA commissioner on the cyclospora outbreak.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A new Chinese AI model reportedly narrows the gap between OpenAI and Anthropic. A CNBC investigation reveals how criminals are using tap-to-pay technology to commit fraud. Plus, the CEO of Underdog, America's fastest growing daily fantasy sports company.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nvidia is finally derisked enough to buy, according to GMO's Tom Hancock. New York becomes the first state to pass anti-data center development legislation. Plus, the steps South Korea plans to take to calm the Kospi's wild swings.    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Fed chair Kevin Warsh says inflation is a choice in his first Monetary Policy Report testimony on Capitol Hill. IBM shares have their worst day since October 1987 after the company pre-announces disappointing Q2 earnings, with CEO Arvind Krishna saying “this quarter we faltered.” Plus, CNBC's exclusive look at the AI model small enough to run directly on an iPhone.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Crude prices surge as President Trump says the US is ‘reinstating' a Strait of Hormuz blockade. Apple sues OpenAI, alleging intellectual property theft, but The Verge's Nilay Patel questions if trade secrets even exist when it comes to AI. Plus, with tech companies trading at peak margins, we set the table for second quarter earnings season with Wolfe's Chris Senyek.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

SK Hynix shares pop in their first day of Nasdaq trading, but Susquehanna is staying cautious. Brookings' Robin Brooks makes the argument for implementing another, stricter blockade of Iran oil. Plus, hoe World Cup hydration breaks could give Fox Sports a $250M boost.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The trade for investors concerned about AI capex. Aviation entrepreneur David Neeleman on the airline industry. Plus, the chip stocks Carter Worth calls so bad, they're good.   Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Why the bull market should last at least another five months. Tech and media executive Tom Rogers' surprising potential deal target as the Allen & Co. Conference kicks off in Sun Valley, Idaho. Plus, CNBC investigates the Chinese tech in American products that's raising national security concerns. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.