AI Development & Product Innovation - Google is positioning itself as a leader in AI with its "full stack" approach, highlighted by the new image model Nano Banana Pro [1][2] - Nano Banana Pro, built on Gemini 3, offers users enhanced control and accuracy in image creation [2] - Google's AI advancements, including Nano Banana and Notebook LM, are improving the company's narrative and product offerings [5] - Google is integrating AI across its products, including the Gemini app and AI-powered search [6] Competitive Landscape - Google's "full stack" approach, encompassing foundation models, cloud infrastructure, and custom chips (TPUs), is seen as a competitive advantage [2][3] - The industry is observing that companies with isolated AI plays may be at a disadvantage compared to Google's integrated approach [3][4] - Meta is investing in foundation models without a cloud business, and Amazon has cloud but lacks a competitive first-party model [3] - Nvidia dominates hardware but relies on big tech spending [4] Investor Perspective - Google's comprehensive AI capabilities are becoming increasingly appealing to investors [3] - The company's ability to translate model breakthroughs into product features is driving excitement and innovation [5][6]

points. Let's bring in Tim Seymour, CIO of Seymour Asset Management and a CNBC contributor. >> Help me make sense of these wild moves.>> Well, not for the faint of heart. I I still think there's a question about tech valuations, although Nvidia's valuation doesn't really bother me, but uh and you've moved with a couple of the the other call them mag sevens as we do uh that where value is kind of interesting again if you're looking at meta and whatnot. I I just think there's this confluence of we still don't ...

And we are back right here on halftime with final trades. Bin, you're up first. >> Google stock continues to perform well in a negative tape.Gemini 3 just rolled out and Google DeepMind just also rolled out the Nana Banana Pro, which is their great image generator. So, I think the stock continues to go higher. >> Yeah, one of the green spots in tech.Steph, over to you. >> I like Starbucks. I think the turn is happening faster than expected.First positive comp in over two years last quarter. I think there's ...

I think what NIL has done was helped to bridge a gap and so we used to talk about at the WNBA you'd have these great players in college and they'd come to the WNBA and the fan base would not carry over. Now thanks to NIL you've got wonderful brands being built of these players at the college level and that has bridged the gap. So they go to the WNBA now and you see their fans following them but playing professionally hasn't hurt their ability to make money.They still have the same sponsors if not more. Uh, ...

Nvidia's Performance and AI Market - Nvidia's Q3 earnings exceeded expectations, easing investor concerns about an AI bubble and boosting market confidence [1] - Nvidia's CFO indicated that the $500 billion backlog announced in October at GTC will increase, with new demand from Saudi Arabia and Anthropic [1] - Q4 revenue guidance is $65 billion, surpassing even high buy-side estimates [1] - Nvidia's CEO refuted spending concerns, stating that generative AI is growing rapidly and that older chips are still running at full capacity [1] - A 5% gain in Nvidia's stock represents approximately $225 billion, exceeding the market capitalization of Disney ($186 billion) and approaching that of Goldman Sachs ($235 billion) [2] AI Bubble and Market Dynamics - Ray Dalio believes there is a bubble in the markets, approximately 80% of the levels seen in 1929 and 2000, driven by wealth creation and the need for cash [3][4] - Dalio suggests that a tightening of monetary policy or wealth taxes could prick the bubble [3][4] - Dalio defines weak hands as the public, particularly a leveraged public, and strong hands as the owners of companies who primarily invest their own money [3] - JP Morgan's report indicates that entering the market at over a 23 PE multiple typically results in a return between 2% and -2% per year over 10 years [7] Economic and Investment Strategies - Dalio suggests diversification, including gold and cash, as a strategy during bubble periods [11][12] - Dalio expresses concern about government debt and prefers to be short debt, viewing debt as money and money as debt [14][18] - Dalio has a small percentage (1%) of his portfolio in Bitcoin but does not believe it will be a reserve currency due to trackability and potential for hacking [20] - Dalio sees challenges in private markets, including private equity and venture capital, and their connection to private credit [15][16]

What about the predictions markets. Very hot right now. Fast growing.Do you think that there's a risk that they they cannibalize sports betting. >> Yeah. So, so first um I'll give >> and also are you gonna get in. >> I'll give this to you first right here.Let's go. I'm giving it to you right now. We got to make we're launching the next couple weeks.>> Launching a >> fanatics prediction markets. Absolutely. >> Is this with crypto.com as rumored. >> Uh it is. it it is with Crypto.com and we're super excited a ...

This debate around how many years AI chips are actually useful, adding some fuel to those bubble fears. Nvidia CFO weighed in on that last night, saying that chips they shipped six years ago are still fully utilized today. It's a good topic for our dear DBosa in today's tech check.Hey D. >> Hey, good morning Carl. That's right.CFO Colette Crest, she tried to put the depreciation debate to bed, but she may have actually raised even bigger questions. She essentially said that Nvidia chips, they last longer th ...

We are doing great. I think we've exceeded any expectation that anybody had for our league. Uh years one and two, attendance went up 27%.Our partnerships grew 50%, merchandise sales up 100% year-over-year. Uh attendance for this season looks uh and is tracking above last year as well. So, we feel good about our progress and feel good where we are. ...

Where is the leverage that we should be worried about if we should be at all. Do you worry about private credit and how connected that is to the banking system or not. >> Um I think we have a a challenge in private markets.If you're looking at the private equity markets, >> okay, >> they have a bunch of problems. Um in other words, can't sell deals, uh pricing of deals, returns and so on. Can't get cash out of them.And then of also um you're looking at venture >> venture is having uh problems >> and um a lo ...

I'm at the Cleveland Federal Reserve Bank with the president, Beth Hammock. Uh Beth, thank you for having us here in Cleveland, >> Steve. We're thrilled that you came out and made the trip.>> Great. What an interesting conference you're putting on about financial stability. A good time for that, but also good time to talk about the outlook for Fed policy.Uh let's start with the easy thing, which is my question about your takeaway from this morning's jobs report. >> Um well, we we've only had a short amount ...