Stocks fell on Thursday as the sell-off in semiconductors has the major averages on pace for a losing week on Wall Street. Brian Sullivan &amp; Kelly Evans are joined by Morgan Stanley Senior Internet Analyst, Brian Nowak, to preview some of the key tech earnings reports expected out over the next week and to give his take on which companies are leading in hyperscaler capex spending. Later in the program, S&amp;P Global Vice Chairman, Dan Yergin, and RBC Capital Markets Head of Commodities, Helima Croft, discuss the state of the global energy markets with the anchors amid rising tensions in the Middle East. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Mega-Cap Tech Earnings Preview, Global LNG Exports, and Countdown to Netflix Earnings 7/16/26

Power Lunch

And welcome to Power Lunch, everybody. I am Brian with Kelly. One of the market's biggest questions, what is the ROI on AI? Morgan Stanley now seeing big tech spending rising toward $1.4 trillion in two years. We're going to talk about it, plus a build-out that could quadruple available compute capacity. Internet analyst Brian Nowak is here to help us answer that question.

And energy front and center. A new S&B Global study says this one American industry could soon become bigger than all of Hollywood. The man behind that note, Dan Yergin, vice chairman at S&P Global, is here. And the major indices may look calm, but under the surface, there are some big waves. Memory and storage names are getting hit hard, while financials and health care are helping to hold up the broader market. We'll look at what's driving your money.

All right, so obviously another big show for you today, and we begin with arguably the two most important letters in all of Wall Street, if not the world, AI. A huge part of this market rally, maybe all the market rally, has been fueled by big tech's big bet on artificial intelligence.

This year, hyperscalers like the Amazon's, the Alphabet's, the Meta's of the World, are on track to pour hundreds of billions of dollars into AI infrastructure and related spending. And according to Morgan Stanley's Brian Nowak, the spending spree may just be getting started. He predicts hyperscaler capital spending will approach $1.4 trillion by 2028. You heard that right. That is trillion with a T.

Mega-Cap Tech Earnings Preview, Global LNG Exports, and Countdown to Netflix Earnings 7/16/26

Read the full transcript

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

Mega-Cap Tech Earnings Preview, Global LNG Exports, and Countdown to Netflix Earnings 7/16/26

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.