Illinois, Virginia, Ohio, Texas, and California have the highest concentration of data centers in the US. Residents in those states have seen their electricity bills go up substantially this year. >> If we look at Department of Energy data, on average, electricity prices have increased about 6% year-over-year from August of 2024 until August of 2025.The independent market monitor for PJM found that data centers are overwhelmingly responsible for the increase in capacity prices. a data center campus running ...

Tech stocks rebounding after three straight days of losses. But there are concerns of course about this AI bubble. Dear Drabosa is taking a look at whether the source of concern might actually be in private AI markets.D explain please. Yeah. So Contessa, if you're worried about the AI trade, you just can't ignore what's happening in private markets because startup burn that feeds into big tech's bottom line.Their losses from those startups. It's revenue that keeps the public AI trade alive. Now look at yest ...

Paul Meeks heads up technology research at Freedom Capital Markets. Paul, great to see you today. >> You, too.>> All right, so can we just get through the big angst inducing headaches that AI is having right now. One, there's and you heard Jim Kramer talk about it this week and what the Wall Street Journal calls Frankenstein financing. What's the deal with the debt.Is it a problem. I don't think the debt in this case is a problem like it was with the companies that were borrowing in the late 90s, early 2000 ...

For more, let's bring in Jeff Kilberg, KKM Financial founder and CEO, a CNBC contributor. It's almost like having this shopping list and thinking, "Oh, I can't afford that. I can't afford it." And waiting for it to go on sale. >> You're absolutely right, contestant.I wouldn't say the damage is done necessarily in some of these AI themed big tech names. I think just some profit taking has occurred. We've seen two consecutive weeks of profit taking.The jitters really were spurred by the uncertainty what the F ...

Joining me is KPMG's chief economist Diane Swank and CNBC's Steve Leeman. Steve, let me begin with you. Is this a big departure from what we had seen after the last Fed meeting.>> Um, yeah, and by the way, Contessa, unfortunately, you blinked. And, uh, it's an even bigger departure because those probabilities are now down to 41%. Um, and I get that because it's only just been in a little bit that we've had that move.As you saw, uh, the 10-year yield rise higher. uh to around 414 and now the probabilities ha ...

Market Analysis & Fed's Role - The Fed lowers rates hoping to spur more lending, which they hope will get more economic growth [2] - The financial sector currently shows no significant hiccup prohibiting lending or slowing GDP growth; financial conditions are remarkably easy [3] - Pre-shutdown GDP was tracking around 35%-4% [4] - Current market volatility may stem from the realization that the Fed's rate cuts were potentially unnecessary [4] Investment Opportunities - High participation in options and levered ETFs, along with low stock prices, indicates significant risk-taking, presenting potential opportunities [5] - Opportunities exist outside the speculative sphere, such as basic dividends and quality stocks outside the tech sector [5][6] - Non-US quality stocks, especially in Europe and Asia ex-China, offer faster growth and cheaper valuations [6][8] - Increasing non-US exposure, particularly in quality large-cap stocks in Europe and Asia ex-China, is advisable [8] Portfolio Strategy - Diversifying portfolios is crucial, especially taking profits from gains in areas like AI and reallocating [9][10] - The firm was never invested in crypto [9] - Investors should "play with the house's money" by taking some gains off the table and diversifying [10]

We have some breaking news right now on JP Morgan. Aean Javvers joins us now. Aean, what do you have? >> Contestant. That's right. JP Morgan now responding to that social media post earlier in the day from President Trump. Remember, President Trump uh posted that he wanted his Department of Justice to investigate JP Morgan, former President Bill Clinton, and a host of others for their connections to Jeffrey Epstein, the disgraced and now deceased uh sexual predator. Uh the president's been under a lot of po ...

Hey, Scott. So, Scott, Bitcoin has now erased all of its gains since President Trump's inauguration as forced liquidations accelerate. Volatility spikes and risk appetite fades across the market.More than $1.3% billion in leveraged crypto bets were wiped out in the past 24 hours alone, pushing those funding rates negative and thinning out market depth. Liquidity has dropped sharply and traders are rushing to hedge, driving short-term volatility even higher. Meanwhile, a key support for Bitcoin, those spot E ...

Investment Strategy & Focus - I Squared Capital manages over $50 billion in assets and has completed $5 billion in deals recently [1] - The firm is investing in AI data centers, exemplified by a project with Google involving a 400 megawatt data center in Illinois with 90% carbon capture [2][3] - I Squared Capital is providing debt to fund data centers in Texas and investing $800 million in battery construction in Indiana to support data center power needs [4] - The company focuses on "singles and doubles" rather than "home runs," indicating a preference for lower-risk, long-term infrastructure investments [8][11] Risk Assessment & Market Perspective - The firm is cautious about allocating tens of billions to data centers without a fundamental understanding of contracts and technological changes [6] - There is uncertainty regarding the AI consumption model and the potential dominance of companies like Google or Open AI, leading to higher risk [7] - The risk-return profile of investing directly in tech company stocks like Nvidia is currently more attractive than investing in some data center subsectors [10] US Industrial Policy - The new US industrial policy is changing long-term investment approaches, with the government directly investing in companies [13] - This policy involves investments in areas like lithium batteries and rare earth elements [13]

We got to do final trades. I turn to Brian Bellski. >> Scott, we're going >> humble humilous.>> Yes. >> Capital management. >> Thank you. Thank you.We're going with Raymond James Financial. One of the last standalone brokerage firms. It's a wonderful shop with both a broker dealer and an asset management business.>> I'm going Zcaler. It's been falling this week, but earnings are in a couple of weeks. I expect them to be strong.Link sir. >> Paloalto. ...