Gabriela Berrospi, CEO & Founder at Latino Wall Street, joins Remy Blaire to delve into NVIDIA’s impressive performance, with shares reaching record highs after the company announced it could resume selling its H20 chips to China and introduced a new AI chip compliant with U.S. export rules. Gabby emphasizes NVIDIA’s remarkable growth, largely driven by advancements in artificial intelligence, and noted the company’s recent engagement with the White House.
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NVIDIA’s Record Highs: The Impact of AI and U.S. Export Rules
Crypto Week along with Nvidia's H20 rally, both show how policy runs through DC and how politics can move markets.
I spoke to Gabby Barrepi, CEO and founder of Latino Wall Street, who joined me from the White House.
Take a look.
Gaby, you're joining us from the White House today.
House Republican plans to advance 3 major crypto bills hit a wall on Tuesday.
So what does this all mean for the legislation and positioning the US as the world's crypto capital?
Thank you so much, Ray.
Yes, as you say, it's cryptoweek.
That's how the House of Representatives has made this week because of that legislation.
So the markets have been actually been reacting in a very positive and enthusiastic way because this is definitely a huge, it marks a huge stage in what could become the new era of cryptocurrency.
So to start, we want to um pass that Genius Act that.
Allows for the stable coins um to be regulated.
We also want to pass uh what's called a Clarity Act to have some clarity about, you know, the role of the SEC, uh, and how it's going to regulate cryptocurrencies and most importantly, perhaps we want to pass the anti CEBC surveillance Act which will prohibit the digital coin in the central bank.
So it is very important, um, we are, you know, paying attention.
And very closely about what these 3 will how they will evolve and what it will mean for our cryptocurrencies for now we see the markets reacting in a very positive way, so we're very excited about where this could take people, right, because it's already taking the next level record highs and this is just the beginning.
And Gaby, speaking of rough record highs here on Wall Street, we're keeping a close eye on Nvidia.
Now the company's shares jumped 4% on Tuesday to close at new record highs above $170 per share, and this after saying it can start selling its H20 chips to China again along with a new AI chip that meets US export rules, and that move could unlock billions of revenue.
So what does the comeback tell you, especially as we saw about $161 billion added to its market cap earlier this week?
Yeah, so Nvidia, it's actually the most successful company in the stock market to every station because the growth we have seen, we have not seen anything like it before and it's all because of artificial intelligence.
So it's actually very interesting because um the CEO of Inviia was just at that White House a few days ago.
So we, you know, we've been following. what is meaning to me for the next stage of Nvidia, but right now what we are seeing is massive growth.
We do believe this is the beginning of it.
There's a lot more to do with AI, so similar to Bitcoin, you know, right now we see an upward trend in that market, you know, it's not just a Bitcoin and blockchain, but also technology specifically AI.
Yeah, and Gaby, it's also been a big week for earnings, the big banks reporting and some of the key results coming in, but what is your reaction to the kickoff to Q2 earnings season from the major institutions?
Yeah, so this was definitely uh the for banks, right?
And what caught my attention is that we actually really saw, um, them beat expectations with one exception for Bank of America that hit in um in revenue, but in general the banking sector has been reporting very strong, right, better than expected because at the end of the day that's what matters how we know.
And earnings is good, bad, or average.
It depends on what we're comparing it to what the analysts expect and this is beating expectations.
So the banking sector is going to be very interesting because it's going really to depend what the Fed is going to do with interest rates, and that right now is the main thing.
It probably is going to stay, it's not going to stay, it's going to cut rates, you know, and.
This is what the most important thing for the banking sector that's going to happen and we have a lot of uncertainty around it because we don't know what we what we will end up deciding about and who will lead the Federal Reserve.