Schwab Network

The AI buildout comes with about $1.5 trillion in lease obligations, according to Mona Dajani, who discusses how these numbers can shift if the AI outlook takes a sudden turn. She believes the AI race will only accelerate, though it's important to keep certain risks in mind as hyperscalers and other companies write contracts for their own data centers.

Value stocks gaining ground on Wall Street in recent weeks is a sign of market health Sam Miller likes to see. He believes sectors like healthcare and industrials moving higher with the broader market add muscle to sustain the broader rally. Sam says that's more important than ever until more companies can quantify how AI is growing their businesses.

Matt Maher says quarterly earnings aren't as critical to investors as much as "the story Jensen tells" on the future of the AI buildout. With investors turning their attention to the future of AI, Matt makes the case that Huang's vision for Nvidia is the story investors will use to gauge the rest of the tech evolution.

Lisa Martin offers more insight into Nvidia's (NVDA) beat and raise quarter by discussing the astronomical expectations into the report and whether the numbers were enough. She talks about the company benefitting from the "hundreds of billions" of dollars dedicated toward AI infrastructure as one that extends the Mag 7 company's runway. Collaborations and securing supplies amid shortages are another factor Lisa believes will be critical in maintaining margins.

Nvidia (NVDA) earnings took the attention of Wall Street on Wednesday, though Marvell (MRVL) earnings Thursday will add more color to the full picture for AI chipmakers. Derek Yan says investors are underappreciating the data connectivity side of Marvell's business. That said, he sees the company's recent custom silicone partnership with Alphabet's (GOOGL) Google as a significant tailwind. The dilution from that deal is a headwind Derek sees but one that will pay off in the long-term.

Eddie Ghabour is telling clients to expect a ramp in volatility during September, which he sees opening the door to a "buy the dip" opportunity. He goes in-depth on how he's positioning portfolios, from buying gold ahead of the anticipated pullback, to AI chips like Micron (MU) and Marvell (MRVL) afterward. Outside of tech, Eddie names the healthcare as the sector to watch, naming Eli Lilly (LLY) as a leader due to its GLP-1 leadership.

As the AI infrastructure story presents new investment opportunities, Neena Mishra of Zacks Investment Research points to photonics companies as one of the largest. The space includes everything from photonics-centric stocks like Lumentum (LITE) and Coherent (COHR) to chipmakers with less exposure like Nvidia (NVDA) and Broadcom (AVGO). Neena highlights photonic ETF opportunities she sees.

Brian Jacobsen says markets got a "sigh of relief" that PCE didn't come in higher than headline numbers showed, so long as core PCE doesn't leak into greater inflation woes.When it comes to the path ahead for interest rates, Ben Ayers doesn't think the print is enough for the Fed to raise yet. Both guests offer their takes on what July's PCE print means for the greater inflation picture.

"AI starts and ends with Nvidia (NVDA)," says R. "Ray" Wang, pointing to an anticipated earnings beat and tentative upside surprise in data center revenue to back his claim. He adds that the Mag 7 giant's Blackwell and Vera Rubin roadmaps remain strong as the company expands its reach. As CEO Jensen Huang makes a push to turn AI chips into an asset class, Ray discusses how the financial move adds to Nvidia's "six-layer cake" of an AI ecosystem.

Ran Grushkowsky, CEO of Masspay, discusses the outlook he sees for stablecoins as the Clarity Act sluggishly moves through Congress. As companies like Mastercard (MA) and Visa (V) expand their reach into the crypto space, he takes a closer look at how the fintech space is adapting to the blockchain.