2025-11-19
43 分钟You're listening to The Exchange.
Here's today's show.
Welcome to The Exchange.
I'm Morgan Brennan and for Kelly Evans.
Stocks are lower once again today.
The Dow and the S&P 500 both tracking for the fourth negative day in a row.
This, as concerns about the AI trade continue and are coming from some AI upper echelons,
Alphabet Sundar Pachai says he's seeing elements of irrationality.
Rothschild, too,
seeing increasingly more issues with the AI narrative and they're downgrading too big AI players because of it.
Amazon and Microsoft, the analysts behind that call.
which is pressuring those stocks is going to join us to make his case.
And it's coming on a day of another AI mega deal between Microsoft and Vidya.
And this time, anthropic, we've got a lot to talk about.
And all of it, raising the stakes for Nvidia to deliver tomorrow when it comes out with results.
But what does that even look like at this point?
We're going to dig into it with the stock down 10% so far this month.
And the AI trade is where we're going to start.
Rothschild's downgrading Amazon and Microsoft this morning saying that it's time to take more cautious stance on the hyperscalers.
Now they warn the industry has been too trusting that Gen AI is, quote, just like early cloud 1.0.