The traders debate what’s driving strength in the AI trade today, as stocks like CoreWeave, Nebius and Super Micro all surge double digits. We also get a fresh read on the AI buildout, with Cisco reporting Q2 numbers after the close. Then, BofA Securities’ U.S. economics head explains why three rate hikes this year could still be in the cards--even on the back of a muted CPI print. Plus, Google’s new AI smartphone lineup, a landmark social media trial hitting Meta and the big moves in restaurant stocks catching the attention of our traders today.<br><br>Fast Money Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

AI stocks back in the spotlight... And a bold call for three rate hikes this year 8/12/26

CNBC's "Fast Money"

Live from the Nasdaq MarketSite in the heart of New York City's Times Square, this is Fast Money. Here's what's on tap tonight. A red-hot day for AI, from CoreWeave to Nebius to Bloom Energy and more. The sector is riding high once again. Is this rebound for real? We'll debate that. Plus, MediShare slump as jury selection begins. And a California court case over claims the company's social media platforms are harming our kids' mental health. The latest from Oakland and the impact straight ahead.

And later, what's behind new records for a couple big banks? A bullish technical take on Mickey D's. And Google takes the wraps off its new AI phone. We will get a first look. I'm Melissa Lee of the Nasdaq Studio. Be at the Nasdaq. On the desk tonight, Karen Fireman, Dan Nathan, Guy Adami, and Tim Seymour. We begin with a super bullish day for the AI build-out trade. Check out the action shares of CoreWeave, Nebius, Supermicro, and Lumentum. All of those stocks flying high. NVIDIA also catching a bid today, finishing the day up around 3%.

And the energy and memory names getting in on the action, too. Bloom Energy, GE Vernova, Micron, Sandisk. The list goes on and on. Just last hour, we did get results from Cisco. Shares initially jumped on a record top and bottom line B, but gross margins fell short of expectations, which could account for the stock turning negative after hours. Christina Parts Nevelis just spoke to the CEO. She'll join us in just a couple of minutes. Also, we should point out Cerebris also falling in the after-hour session, despite what looked like a fairly strong quarter.

AI stocks back in the spotlight... And a bold call for three rate hikes this year 8/12/26

Read the full transcript

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

AI stocks back in the spotlight... And a bold call for three rate hikes this year 8/12/26

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.