The New FAANG and Predicting the AI Monetization Cycle 5/30/23

TechCheck

CNBC

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

4.5 • 66 Ratings

🗓️ 30 May 2023

⏱️ 7 minutes

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Summary

We may need a new "FAANG" to describe the tech basket powering market gains this year, and some analysts are suggesting the "Magnificent Seven," which include Nvidia and Tesla. Plus, during the mobile internet platform shift, semis were the first to be recognized by markets, then infrastructure, and finally software. That may point to what the next trillion dollar company is after Nvidia.

Transcript

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0:00.0	Invidia's new entry into the trillion dollar valuation club, just the latest
0:06.3	milestone in the AI boom we've seen this year and that is the focus of today's
0:10.7	Tech check with dear Dbosa. Morning day.
0:13.0	So, Carl, we may need a new name or a new moniker for the Big Tech basket,
0:17.0	powering broader market gains this year.
0:20.0	Fang, it just no longer captures what has been happening in big tech as newcomers to the trillion dollar club like
0:24.6	Invidia as you mentioned they power that new AI revolution Bernstein suggests this morning the
0:29.6	Magnificent 7 also notes that if there was ever a year to consider the cell in May
0:34.6	Maxim and maybe this one the names in that group the Magnificent 7 they are all
0:39.4	up between 35 and 180 percent this year and in May alone alphabet in Amazon they're up 15% each
0:45.9	Invidia nearly 50 so sure good time to take somebody off at the table but also
0:49.9	nobody wants to look like Kathy Wood here who bailed out of
0:53.0	NVIDIA too early. Now another name getting attention already is Broadcom, which
0:56.9	reports earnings this week. It has been called by B of A the most underappreciated
1:01.6	AI beneficiary, which I guess in this market you can call a
1:05.2	stock that is up 55% year to date 27% since that call investors though they
1:11.2	being they may be expecting another
1:13.2	NVIDIA here like a blowout and that is a very high bar to achieve.
1:17.6	The point though guys is that the first stage of this tech cycle is taking shape
1:22.0	with the semis.
1:23.0	Everyone is looking for the next names here.
1:24.8	And video, undoubtedly one of them could broadcom
	...

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