Asks Dan Ives who the AI winners will be, noting the market has designated Oracle as a loser.
Scarlet Fu
Dan Ives
Disagrees that Oracle is a loser. Believes the US is ahead of China in tech for the first time in 30 years. Sees $3-4 trillion to be spent on AI in coming years. Oracle will play a huge role. Current sell-off is a buying opportunity, similar to bearishness on Google a year ago.
Notes Oracle's balance sheet looks different from other hyperscalers, with less cash, leading to more investor suspicion.
Scarlet Fu
Dan Ives
When OpenAI calls, you pick up. Growth will be massive ($400-500B RPO). We're in a glass-half-empty period, which is healthy for the tech trade. Tech stocks will continue to rip into next year as we're early in the AI buildout.
Asks about the Blue Owl report not backing Oracle's data center deal and what it signals.
Scarlet Fu
Dan Ives
There's a better chance of him playing in the NFL than this data center not being built. It's about terms and negotiations. In moments like this, bears own the day, but it's not time to panic. Oracle is a compelling name given the risk-reward.
Asks about Amazon's discussions with OpenAI to use its chips and invest $10B, and Amazon's role in the AI buildout.
Scarlet Fu
Dan Ives
For Amazon, this is a huge opportunity on the data center side. They need to jump in the deep end, which they are doing with OpenAI. Amazon wants to be associated with OpenAI for the buildout.
Asks if Amazon's chips will be a real competitor to Nvidia's.
Scarlet Fu
Dan Ives
There's only one godfather of AI: Jensen Huang (Nvidia). Demand for Nvidia chips is 12:1 supply. Others like AMD and Google will play in that game, but it's a long-term bet.
Asks what the biggest risk to his bullish AI story is.
Scarlet Fu
Dan Ives
Energy, energy, energy. The biggest issue in the US is energy. When AI adoption moves from 3% to 20% of companies, the clock strikes midnight. Nuclear is the answer.
Asks if energy constraints show up in 2026 and how.
Scarlet Fu
Dan Ives
2026 is a huge inflection point. Need government fully behind it and innovation in nuclear. There are more data centers under construction than active today. Nuclear will be the answer.
Asks which tech name has gone past where it should be for the near term.
Scarlet Fu
Dan Ives
Tesla is going to have a golden year. Could be $2-3 trillion in bull case. AI, autonomous, robotics is just starting. Musk is a wartime CEO. Investors are underestimating the scale of the AI revolution.