RUSH TRANSCRIPT Find these ░░░░░░░░ made gifts or get ░░░░░░░░ gift card instantly at ░░░░░░░░ com Maria a look ░░░░░░░░ features of her return ░░░░░░░░ stocks expected to be ░░░░░░░░ for the start of ░░░░░░░░ the dow industrial up ░░░░░░░░ a point NASDAQ at ░░░░░░░░ S P higher by ░░░░░░░░ rally all year markets ░░░░░░░░ across the board since ░░░░░░░░ Day notably the dow ░░░░░░░░ up since Election Day ░░░░░░░░ The S P is ░░░░░░░░ four and two thirds ░░░░░░░░ and NASDAQ up 5 ░░░░░░░░ since Election Day Anderson ░░░░░░░░ investment officer Peter Anderson ░░░░░░░░ to see you thank ░░░░░░░░ so much for being ░░░░░░░░ what a move you ░░░░░░░░ this has legs and ░░░░░░░░ your in 2025 how ░░░░░░░░ of the second term ░░░░░░░░ are priced into the ░░░░░░░░ Quite a while and ░░░░░░░░ ve never been more ░░░░░░░░ and enthusiastic about the ░░░░░░░░ of markets immediately next ░░░░░░░░ I think President Trump ░░░░░░░░ probably learn from his ░░░░░░░░ administration the mistakes he ░░░░░░░░ and also there is ░░░░░░░░ issues of tariffs which ░░░░░░░░ very hard to figure ░░░░░░░░ but I will say ░░░░░░░░ no matter how you ░░░░░░░░ on the terrorist picture ░░░░░░░░ thing we know for ░░░░░░░░ President Trump really watches ░░░░░░░░ markets as an instant ░░░░░░░░ mechanism for how he ░░░░░░░░ doing and I ve ░░░░░░░░ confidence to be looking ░░░░░░░░ the markets and the ░░░░░░░░ he makes be factored ░░░░░░░░ that Maria you set ░░░░░░░░ versus inflation can be ░░░░░░░░ big issue walk us ░░░░░░░░ that Inflation has come ░░░░░░░░ the highs but with ░░░░░░░░ Trump s plans to ░░░░░░░░ growth as a priority ░░░░░░░░ t spark inflation further ░░░░░░░░ do worry about let ░░░░░░░░ put the tariffs on ░░░░░░░░ side lines for now ░░░░░░░░ we are expecting tremendous ░░░░░░░░ of course with tremendous ░░░░░░░░ we will probably come ░░░░░░░░ and then the Fed ░░░░░░░░ comes into play and ░░░░░░░░ the Fed starts raising ░░░░░░░░ to counter the inflation ░░░░░░░░ could be an issue ░░░░░░░░ years ago I suffered ░░░░░░░░ that incredible domain of ░░░░░░░░ hikes that could be ░░░░░░░░ again but again I ░░░░░░░░ you be very sensitive ░░░░░░░░ that because he doesn ░░░░░░░░ like inflation he doesn ░░░░░░░░ like high interest rates ░░░░░░░░ I think he will ░░░░░░░░ around that I don ░░░░░░░░ know how but I ░░░░░░░░ a great confidence that ░░░░░░░░ probably will be taking ░░░░░░░░ of Maria Amazon cloud ░░░░░░░░ service announcing plans for ░░░░░░░░ massive a I supercomputer ░░░░░░░░ ultra cluster made up ░░░░░░░░ hundreds of thousands of ░░░░░░░░ training chips the chip ░░░░░░░░ will be used by ░░░░░░░░ startup anthropic which Amazon ░░░░░░░░ an additional 4 billion ░░░░░░░░ lower the cost of ░░░░░░░░ I seeking to build ░░░░░░░░ alternative to nvidia you ░░░░░░░░ a new op ed ░░░░░░░░ Forbes titled a I ░░░░░░░░ all picks and shovels ░░░░░░░░ gold you right we ░░░░░░░░ expect to show up ░░░░░░░░ repetitive tasks call centers ░░░░░░░░ other low level functions ░░░░░░░░ we should be careful ░░░░░░░░ they will advance beyond ░░░░░░░░ a lot of people ░░░░░░░░ worried exactly about that ░░░░░░░░ us more about your ░░░░░░░░ Courage to write an ░░░░░░░░ ed of that in ░░░░░░░░ face of so much ░░░░░░░░ about artificial intelligence for ░░░░░░░░ past six months I ░░░░░░░░ been extremely concerned that ░░░░░░░░ have lost our way ░░░░░░░░ are we doing all ░░░░░░░░ the large construction when ░░░░░░░░ still don t have ░░░░░░░░ impact to the bottom ░░░░░░░░ the prophets you asked ░░░░░░░░ of these large companies ░░░░░░░░ they are building out ░░░░░░░░ much in their answer ░░░░░░░░ because our competitors are ░░░░░░░░ is a classic signs ░░░░░░░░ a bubble I m ░░░░░░░░ totally against a I ░░░░░░░░ think it does have ░░░░░░░░ applications that we have ░░░░░░░░ scale down our expectations ░░░░░░░░ this this is so ░░░░░░░░ away from ambulating human ░░░░░░░░ for instance that we ░░░░░░░░ also been misguided thinking ░░░░░░░░ are going to replace ░░░░░░░░ way that we think ░░░░░░░░ cetera that is 20 ░░░░░░░░ prizes away if at ░░░░░░░░ and one last thing ░░░░░░░░ the simple analogy you ░░░░░░░░ brain are the size ░░░░░░░░ two fist look at ░░░░░░░░ size of chat gpt ░░░░░░░░ real estate obviously were ░░░░░░░░ on the correct track ░░░░░░░░ ambulating human thought were ░░░░░░░░ the total wrong side ░░░░░░░░ this it does have ░░░░░░░░ limited applications And you ░░░░░░░░ scared jump in here ░░░░░░░░ I was at economics ░░░░░░░░ program the abi was ░░░░░░░░ the rise of the ░░░░░░░░ this is going to ░░░░░░░░ over and is not ░░░░░░░░ it s a long ░░░░░░░░ but the fact that ░░░░░░░░ have brain chips I ░░░░░░░░ your thought and execute ░░░░░░░░ the frontier is not ░░░░░░░░ yet it is coming ░░░░░░░░ coming pretty quickly Adam ░░░░░░░░ what do you think ░░░░░░░░ an E commerce company ░░░░░░░░ years ago and o ░░░░░░░░ company five years ago ░░░░░░░░ think artificial intelligence even ░░░░░░░░ we don t entirely ░░░░░░░░ where it s going ░░░░░░░░ take as part of ░░░░░░░░ fabric and I think ░░░░░░░░ it is will be ░░░░░░░░ to not pursue in ░░░░░░░░ capacity On this for ░░░░░░░░ should we use nuclear ░░░░░░░░ plants to power a ░░░░░░░░ called a I and ░░░░░░░░ lost expectation in terms ░░░░░░░░ the scale I m ░░░░░░░░ against a I In ░░░░░░░░ year from now if ░░░░░░░░ don t have show ░░░░░░░░ the results I think ░░░░░░░░ could be a strict ░░░░░░░░ off in the stock ░░░░░░░░ because they haven t ░░░░░░░░ much progress Maria a ░░░░░░░░ piece to debate is ░░░░░░░░ thinking thank you Peter ░░░░░░░░ joining us the morning ░░░░░░░░ is salesforce take a ░░░░░░░░ at this clock in ░░░░░░░░ premarket shares are surging ░░░░░░░░ double be on third ░░░░░░░░ earnings and revenue salesforce ░░░░░░░░ a net income of ░░░░░░░░ 5 billion for the ░░░░░░░░ it raised the full ░░░░░░░░ revenue guidance and analyst ░░░░░░░░ on the a I ░░░░░░░░ on track to add