- 2024-04-09
- Posted by: kimsite
- Categories: Commentary, Insights, News
Click here to listen to the full interview.
NEIL CAVUTO: Speaking of Elon Musk, he also was making waves talking about artificial intelligence. It’s here and it’s conquering mankind as we know it. Look at this.
ELON MUSK: AI is the fastest advancing technology that I’ve ever seen of any kind, and I’ve seen a lot of technology. Apparently a week goes by without some new announcement. My guess is that we’ll have AI that is smaller than any one human probably around the end of next year. And then AI, the total amount of sort of sentient compute of AI I think will probably exceed all humans in five years.
NEIL CAVUTO: Alright, so on that upbeat note, just remember these words. Open the pod bay door, Hal, it’s all over. It’s all over. Human kind as we know it is gone. Scott Martin here to sort of a sing our end, the Kingsview Asset Management, CIO in a sky. You and I talked about artificial intelligence for a long, long time. I built a career on it myself, but the fact of the matter is when you have the richest guy on earth and probably the most prescient when it came to the opportunities for AI, he’s also talking about the potential drawbacks and for humankind not good. What do you make of that?
SCOTT MARTIN: Not great, let’s just say Neil. Not natural. I think it could be great depending on how AI is utilized. I mean to your reference earlier, which is as usually very prescient. I love me some 2001 Space Odyssey, but just like AI goes out there and just kind of is expected to take over everything, that’s probably not the case. I mean, perfect example. I talked to AI this morning as I usually do when I get up and asked for advice as to what to wear on the show today in light of the eclipse, in light of UCONN winning the championship. And so far so good. AI is making me look amazing and comfortable and confident. So there’s a lot of things, Neil AI that
NEIL CAVUTO: Hey, that’s debatable, that is debatable young man. That’s address, Hey,
SCOTT MARTIN: I said it’s okay, so it’s okay with me. But still something going forward that AI could be good for and bad for. It just depends on how we use
NEIL CAVUTO: It. It’s interesting because my prior guests, we were talking in the break a little bit about Nvidia, it is hiccuping a little bit. I think it was down about two and a half to 3%, maybe more. But again, this is a stock that’s run up in excess of a hundred percent this past year. So a little give back. So I think, we’ll, 10 to 12% off our highs. But I noticed that not all the plays are, there’s some maneuvering with Intel and some of these others who have rival chips and Google has a big conference today talking about its own debut products and all. How do you play this whole AI thing? I mean, when they stumble, do you scoop ’em up when they keep going? You keep going, keep adding to positions what
SCOTT MARTIN: I believe you do. And Dan Greenhouse was a great interviewer earlier. I mean, he and I tend to be birds of a feather on some of the AI stuff because of the fact, Neil, and we talked about this before, there’s a lot of AI companies out there, at least pseudo AI companies out there that have come out in their earnings report, said, Hey, we’re into AI I and doing this AI stuff, and all of a sudden the stock jumps 10%. We’ve joked about that over the course of this year. The reality is there’s probably going to be five or six or eight, let’s say, companies that come out as the AI leaders, the Googles Apple, obviously getting into some more ai. Tesla of course, Nvidia as you mentioned earlier. And then some of those companies, Neil, that fall flat. Some of those companies that get left behind, whether it’s their chips processing, whether it’s the speed of the AI, whether it’s the depth of the AI capabilities that they have, wherever it’s applied to, is where those companies need to be invested in. So I think you have to really find those leaders and stick with them. And to your point, when they pull back, that’s a gorgeous opportunity to add to your position.
NEIL CAVUTO: Alright, the only thing I could add is that you might want to talk to AI again about that jacket choice, but you’re always very sartorially splendid. So
SCOTT MARTIN: It’s telling me right now that everything is going great, so I have to stick with IT.
NEIL CAVUTO: I understand. Yeah. Okay. The sun will come out tomorrow. Always good seeing you, Scott. Martin Kingsview Asset Management, it’s a funny guy. Very smart guy. So we appreciate both.
