President Trump unveiling his administration's AI plan Wednesday. The proposed plan is an effort to ensure global dominance in the booming space. Joining us to talk about the impact of these plans on the semiconductor industry is on semi CEO Hassan El Corey.It's great to have you back on. What what is your first take about what matters here in the in what the administration has laid out. >> So thanks good to see you again. Thanks for having me again.Look the the first at first view this is a huge step forwa ...

Financial Performance - Blackstone's earnings per share exceeded estimates by $0.11 [1] - Blackstone's revenue reached $3.1 billion, surpassing expectations [1] - Total assets under management increased by 13% year-over-year, reaching $1.2 trillion [1] Business Development & Strategy - Blackstone experienced the most significant fund appreciation in nearly four years [3] - Blackstone raised an additional $52 billion in inflows [3] - Blackstone anticipates a cyclical upturn driven by a revitalized deal environment [3] - Blackstone sees secular trends in private wealth, private credit, and infrastructure contributing to long-term growth [4] - Blackstone's private equity companies experienced high single-digit revenue growth and margin expansion in Q2 [6] Market & Industry Outlook - Blackstone observes resilience in its portfolio companies, despite challenges in manufacturing and retailing [6] - Blackstone notes that default rates among non-investment grade borrowers are low, at just 50 basis points [8] - Blackstone identifies AI, energy, and digital infrastructure as potential drivers of productivity and economic growth [9] - Blackstone acknowledges the risk of excesses in the data center and AI energy space due to significant investment [10][11][12] - The digital infrastructure sector requires new power capabilities and generation to support growing demand, with a focus on consumer needs [16]

Partnership & Opportunity - The company's partnership with Liberty has a long history and presents significant opportunities [1] - There is a substantial need for power, creating immediate demand [1] Energy Solutions - Gas is viewed as a bridging solution to nuclear energy, playing a complementary role in the future [2] - The company aims to provide near-term power solutions for data center providers, transitioning to new nuclear builds [2] - Offering a comprehensive portfolio mix makes it easier for customers to obtain power [2]

Partnership & Strategy - Oklo and Liberty Energy are partnering to provide energy to large-scale customers, targeting data centers due to increasing AI energy demand [1] - The partnership aims to offer a comprehensive power solution, using natural gas as a bridging solution to nuclear energy [4] - The collaboration allows for a faster market entry for power solutions, with a long-term focus on sustainability [13] - Liberty Energy made a strategic investment in Oklo in early 2023, recognizing the potential for integrating their field operations expertise with Oklo's power solutions [9][10] Energy Solutions & Market Opportunities - Natural gas can provide immediate power, but the partnership offers a path to a lower carbon intensive power generation mix with nuclear as baseload [5][6] - The combined solution provides flexibility, allowing customers to leverage low-priced grid power when available and switch to gas and nuclear when grid prices are less attractive [7] - Oklo is also partnering with Diamondback Energy to electrify their operations in the Permian Basin, indicating broader opportunities in the oil and gas sector [11] - The industry is seeing a trend towards combined solutions, integrating nuclear baseload with the flexibility of natural gas [6][8]

AI发展战略 - 特朗普总统预计将阐述人工智能发展愿景，行动计划侧重于创新、基础设施和国家安全三大支柱 [1] - 讨论可能包括美国需要采取措施在人工智能领域超越中国 [2] - 人工智能发展需要公私部门大规模合作，需要管理以避免成本超支，确保按预算按时交付成果 [6] 能源需求与政策 - 高盛的报告指出，人工智能、量子计算和加密货币对能源的需求巨大 [3] - 支持这些技术所需的新数据中心，其耗电量相当于同时发射 50 枚火箭到月球 [3] - 能源政策对国家安全和经济安全至关重要，需要考虑所有能源来源 [9] - 数据中心与能源供应商达成协议，保证 99.99999% 的正常运行时间，这可能影响其他用户的能源供应 [12] 劳动力与技能 - 需要对美国劳动力进行再培训和技能提升，以适应人工智能创造的新工作岗位 [4] 能源与环境的平衡 - 在能源放松管制以支持数据中心建设时，需要平衡对居民区的影响 [7] - 在加速创新和保护现有客户及居民之间需要做出艰难的平衡 [8] 治理与监管 - 需要成立能源、技术安全、技术弹性和可靠性以及劳动力再培训方面的治理工作组 [15] - 能源容量规划比技术规划更重要，因为技术依赖于能源供应 [14]

CNBC’s Kristina Partsinevelos joins 'Money Movers' to discuss OpenAI signing a $30 billion data center deal with Oracle. ...

Market Performance & Trends - NASDAQ is on pace for another record close as tech earnings approach [1] - Technology sector is up about 10%, with broadening participation beyond the MAG7 [3] - MAG7's year-to-date returns are largely driven by Nvidia, accounting for about a third of the S&P's earnings year-to-date [3] - In 2024, the MAG7 accounted for roughly 535% of the returns of the S&P, and in 2023, it was 60% [4] AI Spending & Investment - Approximately 18 trillion is expected to be spent on AI over the next five years [10] - Scrutiny surrounds the billions and hundreds of billions of dollars being spent on AI deployment and infrastructure [6] - Meta spent 143 billion on the acquisition of Scale AI [7] - There are about 5,500 AI startups, many of which are not yet trading [14] Company Strategy & Outlook - The market is looking for returns on AI spending, which are yet to be fully realized [9][10] - Productivity gains and margin increases from AI-driven workforce reductions are expected to be a tailwind for technology companies [11] - The deployment and payoff of big spending projects will take years, not just the next quarter or earnings call [15]

Energy Demand & Infrastructure - Data center companies are exploring new energy sources, including nuclear, to power their operations [2] - The US needs to scale its energy infrastructure to support the computing infrastructure for AI, ensuring America's leadership in the field [3] - The pace of builds needed to ramp up power is in the gigawatts [4] - Hundreds of new nuclear reactors or other clean energy technologies may be needed to power data centers [5] - AI companies would purchase gigawatts of nuclear energy today if it were available [9] Nuclear Energy - Nuclear energy is well-suited for supporting AI and data centers due to its reliability, scalability, and small land footprint [8] - Nuclear energy is emissions-free, aligning with tech companies' clean energy commitments [8] - Nuclear construction needs to start now to meet the 2030-2035 timeline [9] - Nuclear operators estimate it will take until the end of the decade to come online [7] Regulatory Environment - The Nuclear Regulatory Commission is working on accelerating licensing [5] - Concerns exist regarding the Trump administration's efforts to reduce the regulator's independence [6]

Real Estate & Space Industry Trends - Data centers are a rapidly growing sector in real estate, driven by AI, cloud computing, and online activities, but their high energy consumption poses a challenge [1] - Private capital is flowing into the space industry, with new companies emerging to serve various aspects of the sector from both public and private perspectives [3] - The space industry is experiencing a revolution, with companies seeking to monetize space through manufacturing and serving as a base for further space exploration, including potential data center production on the moon [6] - Space offers unlimited power from the sun, unlimited cooling from the vacuum, and unlimited real estate, potentially unlocking constraints faced on Earth and providing clean energy [9] - The current economic environment presents challenges for global development, with stagflation, higher rates, and slower growth making it difficult for developers to make projects financially viable [19][20] Technological Advancements & Infrastructure - Reusable rocket technology is advancing, with potential for 1,000 tons of launch capability, moving towards a million tons per year [32] - Robotics are becoming increasingly advanced and advantageous in the lunar environment due to the challenges of sustaining human life in space [31] - Ethos is developing technology to utilize lunar geological resources, such as anorthosite, to create building materials like synthetic igneous rock, which is twice as strong as concrete, for constructing landing pads, roads, and foundations on the moon [26][27][28][29] Energy & Power Consumption - Data centers are projected to consume a significant portion of US power generation, potentially reaching 40% by 2030, highlighting a serious infrastructure problem [42] - China has a significantly larger installed power base than the US and is investing heavily in solar energy, necessitating the exploration of new, non-Earth-bound power generation methods [44] - The cost of solar energy is declining rapidly, and nuclear energy is gaining traction, suggesting that energy problems will be solved, but the demand for power is infinite [47] Investment & Future Outlook - Capital is seeking great opportunities and returns, with space emerging as a promising area for investment [21] - Infrastructure investments require a long-term perspective, considering future disruptors and their potential interplay with the current world [14] - The space industry is in its early stages, similar to the railroad era, representing a major investment opportunity and creating new "rails" for the future [17]

Global Data Center Capacity Growth to Increase 6x Given the surge in AI capex - led by the Big 4 US Hyperscalers - we introduce our Global Data Center Model, which projects worldwide data center capacity growth of +23% pa until 2030. However, our latest AlphaWise survey suggests energy is not the only constraint to building new / bigger data centers. Our new Global DC screen highlights stocks - by geography and sub- sector - exposed to this theme. M Key Takeaways M Global Insight Global Infra, Tech, Utiliti ...