C3 AI CEO’s Work-From-Home Woes, the Most Under-Owned Stocks According to Citi’s Jim Suva & Chainalysis CEO on Latest Funding Round

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.5 • 66 Ratings

🗓️ 25 June 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors start us off this morning with the scoop on cloud stocks, Tesla’s recent moves higher and Netflix’s performance this year. Then, C3 AI CEO Thomas Siebel is here to share his thoughts on work-from-home versus return to office. We also have Citi Managing Director and Senior Tech Analyst Jim Suva give his take on the most under-owned stocks post-pandemic. CNBC Senior Tech Reporter Ari Levy joins us to speak about his piece on CNBC.com highlighting the VC winners from Confluent and Doximity’s IPOs yesterday. We also have the story on Ether’s drop lower this morning after a record number of Ether options expire today. Then, Chainalysis CEO Michael Gronager joins us to discuss the company’s newest funding round bringing its valuation to $4.2 billion. Plus, we cover the latest from Didi- the company targeting a valuation of up to $67 billion in its upcoming IPO at the NYSE.

Transcript

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0:00.0	I'm Carl Kintanilla. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.
0:25.9	Good Friday morning. Welcome to Tech Check. I'm Carl Kintania with John Fort and Dear Drubosa.
0:34.2	Today, investors do have their head in the cloud. Why Microsoft's surge to $2 trillion is only scratching the surface on tech's hottest sector.
0:38.6	Then the games are on. In Tesla, again, is crypto money looking for a new table to bet at? And later, why is Netflix dead money? Taking the N out of Fang and re-evaluating
0:45.1	media, D. That's right. And this is all against the backdrop of tech's melt-up recently.
0:51.5	The NASDAQ looking for its third straight record closed this afternoon.
0:55.9	Yeah, and our feed starts in the cloud. Microsoft closing above a $2 trillion market
1:00.9	at the first time in yesterday's session. Coming only the second stock to do it, Microsoft already
1:06.9	up about 20% year-to-date in just the largest company in what's been tech's hottest sector this month, cloud. Since the start of June, Wisdom Tree, Cloud Computing, ETF, which tracks the biggest names in the sector, is up 14% on pace for its best month since last November. Few names that are taking that basket higher, DocuSign, Cloudflare, Shopify and Service Now, massive winners in June.
1:28.8	And how about Asana? We had CEO Dustin Moscovitz after earnings three weeks ago.
1:32.8	That stocks up more than 60% just this month.
1:36.3	But, Carl, you know, cloud is meaningless at this point, really.
1:39.4	I mean, Shopify and Asana, as companies, have very little in common.
1:43.3	Really, it's software.
1:45.2	They're software companies.
1:46.1	And the biggest news this week, the biggest story in software is Windows 11, the ways Microsoft is trying to use it to shift the digital economy.
1:55.7	All let's talk about competition, but really so many.
1:59.6	Microsoft coming after Apple and the App Store teaming up with
2:04.0	Amazon, which is amazing when you think about it. Those are two big cloud rivals teaming up
2:08.4	on digital downloads in Windows 11. And then you got Facebook and Google also shifting their
2:15.1	models trying to say we offer better deals than Apple.
2:18.0	And of course, all these downloads come out of the cloud, so much of commerce, continuing
	...

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