The S&P 500 fell 4.4% on Thursday and the volatility index jumped as much as 70%, and Brian Sozzi spends the morning on what broke and what did not. Bernstein has flagged Georgia as the risk nobody is pricing: its Public Service Commission has flipped to a Democratic majority for the first time in thirty years, and that is the body deciding who pays for power and how fast it arrives.
Max Levchin joins in studio to argue the market is betting AI spending stops and that the bet is wrong. Cristiano Amon says there is no AI correction at Qualcomm, only a shortage of everything. And four chief executives give their read on the election.
Featuring
Max Levchin, Co-founder and Chief Executive Officer, Affirm
Cristiano Amon, Chief Executive Officer, Qualcomm
Lisa Su, Chair and Chief Executive Officer, AMD
Christopher J. Nassetta, President and Chief Executive Officer, Hilton
George Pyne, Founder and Chief Executive Officer, Bruin Capital
Timestamps
0:00 Countdown, then Elon Musk ends Cybertruck production
2:27 What history says after a volatility spike like Thursday’s
3:39 The pullback charts, and how much worse it has been before
5:02 Where tech’s valuation now sits against the rest of the market
6:09 Twenty five big tech names now in a bear market
8:25 Georgia, and the commission that now decides data center power
10:01 Max Levchin on what the market is betting about AI spending
11:07 Why he says the data center argument is worth winning
12:40 The tech optimist case after a bloody red day
14:22 The model Affirm trained on its own credit data
16:09 What fair lending law lets a model use, and what it does not
18:20 Lending more money at the same loss rate
20:20 Whether he is bullish on the holiday season
21:22 Cristiano Amon on why there is no AI correction at Qualcomm
22:46 Four chief executives on what the midterms change
24:18 The Last Word, and the estimates he says nobody can believe
#StockMarket #DataCenters #Affirm #Qualcomm #SozziUnleashed #YahooFinance
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