The Exchange

Jobs Jolt, Hugging Face’s First Investor, and Where the Pricing Power Is 9/4/26

With markets pricing in a rate hike in September after a strong August jobs report, Steve Liesman and KPMG’s Diane Swonk weigh in on whether Chair Warsh’s ‘forward silenc

Nvidia Buys Hugging Face, AI Outages, and Data Center Dissent 9/3/26

Nvidia will buy open-source AI platform Hugging Face for nearly $13B. BofA’s Vivek Arya says that will extend Nvidia’s sphere of influence well beyond Silicon.  Meanwhile

The Great Data Center Debate, Apple’s New Era, and Not Swooning in September 9/2/26

As West Virginia says ‘yes’ to data centers, Governor Patrick Morrissey is focused on clean water and keeping energy costs low. Steve Jobs biographer Walter Isaacson want

Hike vs. Cut, FTC Chair on Amazon Lawsuit, and Why Electricians Love Data Centers 9/1/26

Investor Barry Knapp makes the case for a Fed rate cut with global yields back on the rise. FTC Andrew Ferguson on the agency’s new lawsuit against Amazon. Plus, an offic

Renewed Iran Tensions, Colorado’s Data Center Fight, and the Summer Software Surge 8/31/26

The US striking Iran for the first time in a month as the G20 kicks off and Secretary Bessent says the administration can keep the pressure on without China’s help. Color

Warsh at Jackson Hole, Retail Roundup, and Treasury Trouble? 8/28/26

Fed Chair Kevin Warsh striking a hawkish tone in his first speech at Jackson Hole, saying there’s more work to do on inflation and former Boston Fed President Eric Roseng

Nvidia’s Record Quarter, Connecticut Sues Kalshi, and So Long, SaaSpocalypse? 8/27/26

The AI trade roaring back on the heels of Nvidia’s blowout earnings and strong guidance. Connecticut Governor Ned Lamont on the state’s suit against Kalshi, the impact of

Nvidia Earnings, A Winter Warning, and China’s Government Hack 8/26/26

The key metrics to watch in Nvidia’s earnings—and why a guidance hike could be on the way. As oil prices continue to fluctuate amid Middle East tensions, RBC’s Helima Cro

Media Deal in Limbo, Bitcoin’s Bounce, and Football Firestorm 8/25/26

A former Disney executive’s warning for media M&A as Paramount’s takeover of WBD sits in limbo. Technician Katie Stockton returns to discuss Bitcoin’s recent rally after

Safe Haven Status, Retail Wrap Up, and Crypto Comeback 8/21/26

The Wall Street Journal’s Greg Ip joins us to discuss whether U.S. Treasurys are losing their safe haven status after Treasury Secretary Bessent’s buyback plan. Plus, Gug

Bessent’s Bond Battle, Go Broad Not Bearish, and Stripe’s Strategy 8/20/26

Former OMB Director Mitch Daniels on the Trump administration’s fiscal policy fight. Five-star fund manager Matt McLennan says despite the rising bond risks, investors sh

The Exchange 8/19/26

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for inform

Global Bond Rout, Meta’s Landmark Trial, and Anthropic’s Revenue Surge 8/18/26

Yields around the world hitting multi-decade highs as bond vigilantes go to work. The Verge’s Nilay Patel says Meta’s federal child-harm trial is the social media platfor

Retail Ramp-Up, Chinese Tech Catalysts, and a Bitcoin breakout? 8/17/26

The retailer Morgan Stanley says could go from laggard to leader in the second half. After the 2020 clamp down, can China woo tech investors back? Plus, the bullish set-u

Bubble Beacons, Prediction Friction, and a Data Center Disconnect 8/14/26

Semis are in a bubble, according to Citi’s indicator. Former Assistant AG Jonathan Kanter on prediction markets’ legal hurdles. Plus, the disconnect between investors and

S&P 500 Milestone, Zuckerberg’s AI Manifesto, Anthropic’s Power Deal 8/13/26

The benchmark index crossing 7,800 for the first time ever as new inflation data comes in softer than expected. Plus, early Facebook investor Roger McNamee calls Meta CEO

The Exchange 8/12/26

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for inform

Compute an Asset Class?, Two Wars Becoming One?, and Existing Home Sales Slump 8/11/26

Nvidia just lined up $500 billion in funding from some of the biggest financiers in the world. Does this mean compute is now its own asset class? Plus, analysts warn the

Take a Three-Quarter Point Hike, Food Safety Changes, and Grab the Chips 8/10/26

Sticky inflation has Bank of America predicting 75 basis points of Fed hikes this year. Acting FDA Commissioner Kyle Diamantas on a rule change for ingredients and the on

Weak Jobs Report, AI Model Fears, and the Data Center Economy 8/7/26

Does July’s weak jobs report change the Fed’s rate path? OpenAI is pausing the rollout of its upcoming model due to “cyber capabilities.” Plus, the data center economy an