Yields soaring around the world as bond vigilantes try to force a Fed hike ahead of Kevin Warsh’s installation as Fed Chair. The street’s only analyst with a ‘sell’ rating on Nvidia lays out his bear case ahead of earnings. Plus, Google unveils Gemini Spark at its annual developers’ conference.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Global Bond Rout, The Solo Sell on Nvidia, and Google’s New AI Agent 5/19/26

The Exchange

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You're listening to The Exchange. Here's today's show. Scott, thank you very much and welcome to The Exchange. I'm Kelly Evans. We'll get to bond yields, chip stocks, and this market sell-off, all of that this hour. But let's begin with the stock of the moment, Google, or Alphabet. The company's flagship developer conference, known as IO, kicks off this hour. The shares are down slightly right now, but they've seen a huge rise in the past year, up 132%.

Its market cap has gone from $2.2 trillion to $4.8 trillion, as it's gone from a laggard to a leader in the AI space. Look at November last year when Gemini 3 was released. You see that levitation on the chart there. Salesforce CEO Mark Benioff said he'll never go back to chat GPT. On top of that, Google has partnerships with all the big AI players, and it just announced a new AI cloud company with Blackstone. By the way, Google also has a stake in SpaceX that could be worth more than $100 billion.

The Global Bond Rout, The Solo Sell on Nvidia, and Google’s New AI Agent 5/19/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

The Global Bond Rout, The Solo Sell on Nvidia, and Google’s New AI Agent 5/19/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.