00:00 Speaker A
Let’s take a look at that chart that Deutsche Bank put out about the uh market uh melt up and then crashes because they’re basically saying that over a two-month period, you saw that uh the rally from April to May, uh with the S&P 500 increasing 16% and the there’s been only four times when you have seen this kind of action over a two-month move. And Deutsche Bank is saying that three of those times followed recessions. So look, strategists have been pointing out to the sort of narrow leadership, the narrow breadth when it comes to this rally and it being concentrated in tech in the AI tra- trade. Now, within the AI trade, you are seeing sort of this broadening as you were just mentioning with HPE and the AI infrastructure play now being that hot trade.
00:59 Eric
I would focus on um some additional players that are going to be part of the build out of of the whole AI data centers. Um so obviously, we’re talking about HPE this morning, but last night um in Taipei, Jensen was uh giving a lot of love to Marvel uh for example and calling calling Marvel like the next $1 trillion dollar company. Um uh I uh Credo reported yesterday. Uh I don’t own it. Their stock was down, but they’ve had a you know, they’ve basically doubled since kind of end of March. Uh Astral Lab uh is is a name I own uh that’s also kind of similar to Credo. It’s it’s doubled. And so Credo, Astrolab, um these are some of the, you know, Marvel to to a lesser extent, are kind of um not as well known, uh but they are are are definitely players here uh in this buildout. And so, you know, I think they will have their their Dell and their HPE moments uh to come for in future earnings.
01:45 Brian
We used to toss out, you know, a trillion dollar market cap wasn’t, you know, normally a thing. I still remember when Nvidia had a trillion dollar market cap and it was such a big deal. It was just a couple years ago. But every day we’re getting a new company.
01:54 Speaker D
Brian, getting a new company hitting $1 trillion market cap, but now you have Nvidia at a $5 trillion market cap. The momentum behind, as Eric and Nez were all pointing out, is truly unbelievable. When you think about Micron and where it was a year ago, I believe it was trading about $100 per share and now look at it. I mean, the momentum within this market is truly unbelievable. As you can see on your screen, there are so many companies that now have surpassed even that one, two trillion dollar market cap. You have Ama uh Amazon, Alphabet, Apple, Microsoft, all within, uh, you know, above $2 trillion, even Broadcom, even Tesla and Meta and Micron approaching that $2 trillion mark. And so the momentum within this market is truly unbelievable to watch. And and really when you think about the adoption of AI, how you know, we’re we continue to talk about this circular valuation, this circular ecosystem within AI, I think it’ll be really interesting now that we’ll get exposure to even more of an understanding of financials once we do get that official S-1 filing from Anthropic.
