Nvidia rapidly approaching its next mega cap milestone driven by the AI revolution. Of course, Christina parts Nevlo is here with more. Hi, Christina.Nvidia is inching closer to the once unthinkable, a $4 trillion market cap. Shares would need to actually hit 16393 to make it the first company ever to cross that milestone. Despite the staggering runup, Wall Street's bullishness hasn't faded.City just raised its price target to 190, citing a surge in sovereign AI demand. That governments racing to build and ...

Core Insights - Nvidia is a leading player in the AI revolution, with its chips being the gold standard for AI processing, resulting in a stock increase of 990% since early 2023 [2] - The company currently holds a market cap of $3.86 trillion and has the potential to become the world's first $20 trillion company, representing an upside of over 400% [3][8] - Nvidia's revenue is projected to reach approximately $200 billion in fiscal 2026, with a forward price-to-sales (P/S) ratio of around 19, necessitating revenue growth to about $1 trillion to support a $20 trillion market cap [8][9] Company Overview - Nvidia pioneered the graphics processing unit (GPU) in 1999, introducing parallel processing that significantly improved computational efficiency, making its chips the preferred choice for AI applications [5] - The Compute Unified Device Architecture (CUDA) platform enhances the performance of Nvidia's GPUs, with over 400 libraries available for developers, solidifying Nvidia's position as the industry standard [6] - Nvidia's chips are utilized across various sectors beyond gaming, including cloud computing, data centers, and machine learning, with a strong foothold in generative AI [7] Market Potential - Wall Street forecasts an annual revenue growth of 21% for Nvidia over the next five years, suggesting the possibility of reaching a $20 trillion market cap by 2035 if growth is sustained [9] - Analyst Philip Panaro predicts Nvidia's stock could reach $800 by 2030, aligning with a market cap close to $20 trillion, driven by significant opportunities in AI and Web 3 investments [10][14] - The potential for Nvidia's growth is further supported by the anticipated $10 trillion investment in Web 3 by 2030, with a substantial remaining opportunity in data centers [14]

Core Viewpoint - Micron Technology's strong fiscal Q3 2025 earnings indicate a positive trend for the semiconductor industry, which is expected to boost demand for Applied Materials' equipment [2][4]. Group 1: Micron's Performance and Its Impact on Applied Materials - Micron's sales and adjusted earnings per share (EPS) exceeded estimates, driven by a 50% growth in high-bandwidth memory (HBM) sales within a single quarter [4]. - Micron raised its overall DRAM sales growth guidance for calendar 2025 from "mid-teens" to "high-teens," with HBM sales expected to grow significantly faster than overall DRAM sales [5]. - DRAM equipment sales accounted for 27% of Applied Materials' total revenue last quarter, suggesting that Micron's strong DRAM sales will likely lead to increased purchases of Applied's equipment [6]. Group 2: Applied Materials' Positioning and Future Outlook - Applied Materials anticipates a 40% growth in advanced DRAM equipment sales in 2025 as customers increase investments in these technologies [7]. - The company is well-positioned to benefit from advancements in various semiconductor technologies, including HBM and DDR5, which are crucial for AI applications [8][9]. - Applied's diverse equipment offerings for different chip-making processes provide a competitive advantage over companies that focus on a narrower range of products [11]. Group 3: Market Forecast and Valuation - The 12-month stock price forecast for Applied Materials is $200.76, indicating a 5.28% upside potential based on 22 analyst ratings [12]. - Despite a decrease in revenue exposure to China from 43% to 25% due to export restrictions, most of Applied's business in China involves less advanced technologies, which does not significantly impact long-term growth prospects [13]. - The current forward price-to-earnings multiple of 20x is in line with its three-year average of 19x, suggesting the stock is fairly valued for the next 12 months [14].

The AI revolution goes on. This is no doubt beneficial for the world's largest semiconductor foundry, which is the Taiwan Semiconductor Manufacturing Company (NYSE: TSM ). I have been holding shares of this company for severalWith a decade at a Big 4 audit firm specializing in the banking, mining, and energy sectors, I bring a strong foundation in finance and strategy. Currently, I serve as the Head of Finance for a leading owner and operator of retail real estate, where I oversee complex financial operatio ...

Core Viewpoint - Shares of Oklo Inc. and NuScale Power Corporation have seen significant increases of 195.7% and 118.9% respectively this year, driven by political support for nuclear energy [2] Group 1: Oklo Inc. - Oklo has received a notice of intent to award (NOITA) for a project at Eielson Air Force Base in Alaska, chosen by the Department of Defense to provide nuclear reactor technology [2][3] - The contract reflects confidence in Oklo's ability to deliver clean and secure energy solutions for mission-critical infrastructure, with plans to create a nuclear facility that operates independently from the electrical grid [3] - The Eielson-Oklo deal was initially announced in August 2023 but faced regulatory complications, highlighting the impact of political decisions on Oklo's operations [4] Group 2: NuScale Power Corporation - NuScale Power has also benefited from political support, particularly from an executive order aimed at increasing nuclear energy production by easing regulations [5] - The company is recognized for its advanced small modular reactor (SMR) technology, with its NuScale Power Module being the only SMR to receive design approval from the Nuclear Regulatory Commission (NRC) [6] - NuScale's first-quarter performance exceeded expectations, positioning the company for strong future growth amid favorable developments [7] Group 3: Comparative Analysis - Both Oklo and NuScale Power are positioned to benefit from increasing demand for SMRs due to the need for clean energy solutions, with Oklo planning to introduce its first SMR by late 2027 or early 2028 [8] - Oklo's recent DoD deal and NuScale's NRC approval create a competitive landscape where both companies are trading above key moving averages, indicating bullish trends [9][10] - Oklo is expected to achieve a higher earnings growth of 97.7% this quarter compared to NuScale's 64.5%, reflecting differing growth strategies [14]

Bring in show music, please. Hi, I'm CNBC producer Katie Kramer. Today on Squawk Pod, Iran threatens irreparable damage if the US enters its conflict with Israel. Retired four-star General Wesley Clark was once the Supreme Allied Commander of European forces. He joins us today. I would strongly encourage the administration not to simply go in and use a couple of B2s and try to bomb that big plant. The best option is to be prepared. We need to be tough, but there needs to be a two parallel tracks, a military ...

All right, so Judge, we all know that AI has been the hot trade, but is it starting to show too many signs of getting maybe too hot. How do you separate some of the hype from the high quality. Joining me now is Dan Ives, the global head of tech research at Wedbush Securities, who recently launched an ETF with his name as the ticker literally on the line.IVES is the ETF name, and it's basically your concentrated picks within artificial intelligence. What is the common denominator or the differentiating facto ...

Lazard (LAZ) 2025 Conference Summary Company Overview - **Company**: Lazard (LAZ) - **Event**: 2025 Conference - **Date**: June 10, 2025 Key Points Industry and Company Strategy - **Lazard 2030 Vision**: The company aims to double revenues and improve returns, with a focus on board engagement and strategic refreshment [6][8] - **Board Composition**: New board members are being added to enhance active engagement and oversight [4][5] - **Cultural Shift**: A commercial and collegial culture is being emphasized, which has positively impacted hiring and productivity [7][8] Financial Advisory Performance - **Productivity Target**: Lazard is ahead of schedule in achieving a productivity target of $8.5 million per managing director (MD) [8] - **Hiring Strategy**: Continued hiring in key sectors such as consumer retail, sports media, healthcare, and private capital is planned for 2024 and 2025 [7][8] - **Geographic Diversification**: The company is benefiting from a diversified geographic presence, particularly in North America and Europe, as global investment sentiment shifts [10][11] Asset Management Insights - **Growth Opportunities**: Both organic and inorganic growth opportunities are being pursued, particularly in active ETFs and global diversification strategies [16][17] - **Investor Sentiment**: There is a noted shift in investor preference towards non-US assets, with 90% of a specific mandate being in strategies outside the US [18][19] - **Performance Metrics**: The asset management business is seeing improved performance compared to the previous year, with a focus on global strategies [20][21] M&A Advisory Environment - **Client Sentiment**: There is an acceleration in discussions around M&A, influenced by recent developments in tariff regulations and a more accommodating regulatory environment [28][29] - **Market Dynamics**: The company is observing a diverse range of activities across geographies, with a notable increase in European deal-making [32][33] - **Regulatory Landscape**: A shift back to a more traditional regulatory perspective is expected, which may facilitate M&A activity [35][37] Private Capital and Restructuring - **Private Capital Activity**: The share of revenue from private capital is around 40%, indicating significant growth potential in this area [39][40] - **Restructuring Services**: Elevated activity in restructuring and liability management is anticipated due to high interest rates and market volatility [41][42] Financial Metrics and Shareholder Returns - **Compensation Ratio**: The current comp ratio is 65.5%, with a goal to reduce it to 60% depending on market conditions [45] - **Total Shareholder Return (TSR)**: Lazard aims for an average TSR of 10-15% per year, with a strong focus on executing their growth plan [50][51] Final Remarks - **Cultural Foundation**: The company emphasizes a strong cultural foundation that combines business insight with geopolitical awareness, positioning Lazard for future growth [54] Additional Insights - **AI Focus**: Lazard is committed to leveraging AI advancements across both financial advisory and asset management sectors [11][54] - **Recruitment Success**: The company is successfully attracting talent, with plans to add 10-15 MDs annually [46][47] This summary encapsulates the key insights and strategic directions discussed during the Lazard 2025 Conference, highlighting the company's focus on growth, diversification, and adapting to market dynamics.

AI Adoption and Infrastructure - User adoption of AI is experiencing exponential growth, similar to early internet adoption [1] - The infrastructure investment in AI, including capex from hyperscalers like Tesla, Meta, and OpenAI, is unprecedented, estimated at a $225 billion annual run rate [1] - Token costs (the cost to create a piece of data by AI) have collapsed, reflecting the deflationary nature of the technology [1] Enterprise AI and Open Source - Enterprise AI revenue growth is defying traditional SaaS gravity, with examples like Cursor growing from $1 million to $300 million in ARR in 25 months [1] - Open source AI models are exploding, with significant growth in platforms like Metlam and Hugging Face [1] Physical AI and Automation - Physical AI, particularly robotics, holds immense potential, with synthetic data being used to train robots, potentially including hundreds of millions of humanoid robots [1] - AI-powered systems are being used for large-scale automation, such as weeding 230,000 acres with drones and AI-powered lasers [1] Job Market and Monetization - AI job postings are up 448%, while traditional IT jobs are falling, indicating a significant shift in the job market [1] - Monetization models for AI are still broken, with companies like OpenAI having a $13 billion annual burn rate [1] AI's Transformative Potential - The next 26 billion internet users will be AI-first [1] - The AI revolution is compared to the impact of James Clerk Maxwell's discoveries in electromagnetism, suggesting a seismic transformation for science, technology, and economics [2]

Financial Data and Key Metrics Changes - Revenues reached BRL 231 million, up 7% year over year, primarily driven by strong volume growth in CPaaS, offsetting declines in SaaS revenues [15][18] - Adjusted gross profit declined 60% to BRL 49 million, with gross margin decreasing to 21% due to a higher mix from lower-margin CPaaS growth and a one-time SMS cost adjustment of BRL 27.8 million [15][16] - EBITDA, excluding certain expenses, closed the quarter at BRL 35 million, a 6% decline from BRL 37 million in Q4 2023 [17] Business Line Data and Key Metrics Changes - Customer Cloud generated revenues of approximately BRL 180 million in 2024, with nearly 6,000 companies using the platform, 20% of which were international [13] - CPaaS market grew 25% year over year, while SaaS grew at high single digits, indicating a more dynamic CPaaS environment compared to previous years [18][19] - SaaS margins declined due to tighter profitability from enterprise clients and higher costs related to the launch of Customer Cloud [17] Market Data and Key Metrics Changes - The CPaaS market is expected to continue growing at a strong double-digit pace in the coming years, with the company anticipating a 25% to 30% growth in Customer Cloud for 2025 [14][18] - International expansion, particularly in Argentina and Mexico, is performing well and contributing positively to Customer Cloud's success [10][11] Company Strategy and Development Direction - The company has entered its fourth strategic cycle focused on accelerating growth in its newly defined core business, the Zenvia Customer Cloud [7][11] - A shift to a volume-based pricing model is being implemented, allowing clients to pay based on interactions rather than a per-seat model, enhancing operational efficiency [10][41] - The company is committed to streamlining operations further with AI playing a key role, while also evaluating opportunities for divestment to optimize capital structure [25][51] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the early improvements seen in Q1 2025, with expectations of revenue growth picking up and SaaS margin recovery [26][58] - The company is focused on leveraging its unified platform and market opportunities to drive organic growth while reducing leverage to strengthen its financial foundation [11][25] Other Important Information - The company has successfully reduced G&A expenses by 33 million BRL over the past two years, improving productivity and profitability [21] - A headcount reduction is projected to generate additional cost savings of 30 to 35 million BRL in 2025 [21] Q&A Session Summary Question: Can you provide clarity on Zenvia's full year 2025 revenue outlook? - The Customer Cloud segment is projected to grow by 25% to 30%, while traditional SaaS and CPaaS business lines are expected to see flattish to 5% growth [31][32] Question: What is the current status of your plan for divestments? - The company is evaluating divestment alternatives opportunistically to improve capital structure and deleverage the balance sheet [35][36] Question: What new trends are emerging with AI integration? - The company is seeing the adoption of more interconnected use cases that combine customer data to create sophisticated customer journeys [38] Question: Can you elaborate on the shift to charging per interaction? - The company has transitioned to a usage-based pricing model, which encourages deeper software adoption and operational efficiency for clients [40][41] Question: Will gross margins for both SaaS and CPaaS return to previous levels? - SaaS gross margins are expected to return to around 45-50%, while CPaaS margins should normalize closer to 25% [49][50] Question: What are the main goals for 2025? - The primary goals include leveraging the balance sheet and improving EBITDA compared to 2024 [51][52]