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FIVE ON YOUR MONEY NOW A MIXED FINISH ON WALL STREET TODAY. AFTER A TOUGH START, YOU CAN SEE THE DOW BOUNCED BACK ACTUALLY PRETTY NICELY CLOSING UP ALMOST 290 POINTS. BUT THE S&P 500 AND THE NASDAQ BOTH FALLING. LOOK AT THE NASDAQ DROP 612 POINTS TO THE NEGATIVE. A LOT OF THAT DRIVEN BY TROUBLE IN THE TECH SECTOR. THAT IS AFTER THE EMERGENCE OF CHINESE AI STARTUP DEEP SEEKS NEW AI ASSISTANT, WHICH REPORTEDLY THEY SAY COST FAR LESS. WE’RE TALKING LESS THAN $6 MILLION, MAYBE TO MAKE THAN THE AMERICAN MODELS THAT ARE OUT THERE LIKE CHATGPT. YEAH. WELL, JOINING US TO DISCUSS IS MIKE ARMSTRONG, PRESIDENT OF ARMSTRONG ADVISORY GROUP. SO MIKE, THANKS FOR BEING HERE, AS ALWAYS. THANK YOU VERY MUCH. BEN. THANKS, ERIKA. LET’S START WITH THIS AI RELATED SCARE TODAY ON WALL STREET. THINGS DID BOUNCE BACK FOR THE DOW. NOT SO MUCH THE NASDAQ WHICH IS A LOT OF TECH STOCKS, BUT IT KIND OF GO OVER FOR US WHY INVESTORS WERE SO JITTERY THIS MORNING. WELL SO THERE’S SO MUCH THAT WE DON’T YET KNOW ABOUT ARTIFICIAL INTELLIGENCE. YOU KNOW WHAT COMPANY IS GOING TO CREATE THE LATEST AND GREATEST TOOL. IS IT GOING TO SOLVE, YOU KNOW, CERTAIN CANCERS AND ALL SORTS OF EXCITING STUFF THAT’S BEEN TALKED ABOUT. THE ONE THING THAT WAS KNOWN UP UNTIL TODAY WAS THAT CREATING THESE TOOLS TAKES THE HIGHEST POWER CHIPS. EXPONENTIAL INVESTMENT IN THESE SEMICONDUCTORS, AND THE ENERGY NEEDED TO POWER THESE TOOLS AS WELL. RIGHT. YOU HAD THE TRUMP ADMINISTRATION ANNOUNCING THIS HUGE INVESTMENT FROM ORACLE AND THE LIKES. AND IF TRUE ABOUT THIS LATEST TOOL, IT FLIPS A LOT OF WHAT WAS PREVIOUSLY KNOWN ON ITS HEAD. YOU KNOW, THE AMOUNT OF POWER NEEDED, THE AMOUNT OF SEMICONDUCTORS AND JUST MONEY NEEDED TO POUR INTO THESE TOOLS. THIS STORY FLIPS IT ON ITS HEAD. SO IN OTHER WORDS, COMPANIES LIKE NVIDIA, THAT STOCK TOOK A HUGE DROP TODAY BECAUSE THEY MIGHT NOT NEED TO SELL AS MANY OF THESE CHIPS, WHICH IS WHY THE STOCK PRICE WAS UP SO MUCH. BUT UTILITY COMPANIES TOO, IF YOU RECALL, UTILITY COMPANIES LAST YEAR HAD A PRETTY BIG RALLY ON THE IDEA THAT, HEY, IF WE HAVE ALL THESE DATA CENTERS THAT ARE COMPUTING ALL THESE THINGS, WE’RE GOING TO NEED NUCLEAR POWER. WE’RE GOING TO NEED TO TURN BACK ON OLD NUKES THAT WERE POWERED OFF AND, YOU KNOW, UNREGULATED UTILITY COMPANIES COULD BENEFIT, TOO. SO I REMAIN FOCUSED THAT THERE’S A LOT THAT’S STILL NOT KNOWN. DID THEY IN FACT, ACTUALLY TRAIN THIS THING FOR LESS THAN $6 MILLION? IF THEY DID, THAT’S ABOUT 1% OF WHAT IT COST AMERICAN COMPANIES TO DO THE SAME. DOES IT TRULY ALLOW YOU TO PRODUCE 99% OF THE RESULTS AS CHATGPT ON 3% OF THE COST? THERE’S A LOT WE DON’T KNOW. BUT IF TRUE, THEN IT DOES UPEND A LOT OF WHAT HAS BEEN GAINED FROM PUBLIC COMPANIES SO FAR TO REALLY INVESTIGATE THE CLAIMS AND SEE IF, IN FACT DOES WHAT IT’S SAYING IT’S DOING. SO TALKING ABOUT THAT, YOU KNOW, INSTABILITY TODAY, A LOT OF PEOPLE ARE FEELING NERVOUS. YOU KNOW, TRUMP’S SECOND TERM POTENTIAL FINANCIAL INSECURITY. SO CAN WE EXPECT MORE DAYS LIKE THIS BASICALLY. WELL, I WON’T SPEAK TOO SOON BECAUSE LIKE WE SAID, WHEN IT COMES TO INFORMATION COMING OUT OF CHINA AND A COMPANY HERE THAT’S DISCLOSING SOMETHING, I DON’T KNOW HOW QUICKLY WE’LL HAVE ANSWERS HERE, BUT WHAT DOES CONCERN ME A LITTLE BIT MORE THAN THE AVERAGE DAY IS THAT THIS HITS SOME OF THE HIGHEST FLYING STOCKS THAT I KNOW FIRSTHAND. A LOT OF PEOPLE HAVE BEEN REALLY EXCITED ABOUT, AND THAT THOSE AVERAGE INVESTORS MIGHT HAVE NOT BEEN PAYING CLOSE ATTENTION TO THOSE COMMON RULES THAT PEOPLE TELL YOU ABOUT DIVERSIFICATION AND, AND ALL THESE DIFFERENT THINGS. YOU KNOW, THESE WERE THE COMPANIES THAT PEOPLE WERE JUMPING ON THE BANDWAGON WITH. AND UNLIKE A GENERAL WIPEOUT WHERE, HEY, ALL COMPANIES ARE DOWN 2 TO 3%, THAT WAS NOT TODAY’S EXPERIENCE AND JUST REAL QUICKLY. IT’S HARD TO ISOLATE YOURSELF IF YOU’RE JUST IN LIKE INDEX OR EXCHANGE FUNDS, RIGHT? BECAUSE NVIDIA IS THE NUMBER ONE HOLDING FOR A LOT OF THESE INDEX FUNDS. RIGHT. IT’S THREE PLUS TRILLION DOLLAR COMPANY. SO IF YOU ARE MARKET CAP WEIGHTED, IT WAS ONE OF THE LARGER HOLDINGS IN THESE FUNDS. NO MATTER WHAT APPLE META ALL THOSE BIG TECH. BUT IT WAS ALSO ATTRACTING A LOT OF INDIVIDUAL INVESTORS OVER THE LAST FEW YEARS. AND AND MANY OF THESE COMPANIES WERE.