News about Mike Novogratz

Galaxy Digital CEO Mike Novogratz called AI the “biggest bubble of our lifetime” at the Greenwich Economic Forum in early October, yet urged investors to keep buying as the S&P 500 hit a record and NVIDIA's market value neared $6 trillion. He argued AI-linked stocks still look cheap on a P/E basis, that rising long-term borrowing costs won't stop the rally, and that competition with China makes a slowdown in AI development unlikely. NVIDIA reported fiscal second-quarter revenue of $96.22B, up 105.8% year over year, and its market value now stands at $5.21 trillion. Since the panel, the September CPI report released Oct. 14 showed prices up 3.7% from a year earlier, above the 3.6% expected, and the S&P 500 and Nasdaq fell in morning trading. Novogratz says he watches signals such as spiking bond yields, stocks and the dollar falling together, and foreign selling of Treasuries.

Galaxy Digital CEO Mike Novogratz called AI “the biggest bubble of our lifetime” at a Greenwich Economic Forum panel in early October, yet urged investors to keep buying. He says AI stocks still look cheap on price-to-earnings and rising long-term borrowing costs are not enough to stop the rally, while competition with China makes slowing AI development unlikely. His exit signals are stocks and the dollar falling together, spiking bond yields and foreign selling of Treasuries. The article notes NVIDIA revenue rose 105.8% to $96.22B, top-five hyperscalers are projected to spend $1.3 trillion on capex in 2027, and NVIDIA trades near 43 times trailing earnings versus about 29 for Microsoft. After the panel, CPI rose 3.7% against 3.6% expected, and the S&P 500 fell about 0.95%.