Asks about recent AI market trends and concerns
Host
Mohamed El-Erian
Encouraged that AI trade has become more differentiated and fundamentally driven rather than hype-driven
Questions how differentiation works when all AI deals seem to lift both companies
Host
Mohamed El-Erian
Gemini III changed landscape - winners need specific attributes not all companies have
Notes data centers are fully booked unlike dot-com bubble
Host
Mohamed El-Erian
AI demand prevents economic stall speed as rest of economy struggles
Questions if profitability will follow massive AI capex spending
Host
Mohamed El-Erian
Profitability depends on adoption; US lacks adoption policy and risks falling behind China
Asks about Accenture's OpenAI deal and potential disintermediation
Host
Mohamed El-Erian
Companies will need help with AI adoption due to data integration challenges
Asks what to watch beyond AI trade, especially regarding Fed
Host
Mohamed El-Erian
Fed needs reform after 'going to sleep'; must improve supply-side analysis and compliance culture
Asks timeline for Fed reform impact
Host
Mohamed El-Erian
Fed needs to step back from play-by-play and take visionary view; all candidates committed to reform
Asks if markets are uncomfortable with or clamoring for Fed reform
Host
Mohamed El-Erian
Markets currently focused on December cut and chair selection, but Fed volatility is absurd