Pricing Nvidia's "Key Man Risk" with Gene Munster

Guy Adami fills in for Dan Nathan on Okay, Computer with Gene Munster of Deepwater Asset Management to discuss a volatile, post-election market backdrop and weekend Nvidia headlines involving Jensen Huang. Munster frames the stock’s drop as pricing a roughly 25% chance of Jensen leaving (versus his estimate of 10–15%) and says China’s targeting highlights AI’s geopolitical stakes and the need to build more U.S. data centers; he expects 2028 hyperscaler CapEx growth well above the Street’s ~15% estimate. They debate whether Nvidia news could provide hyperscalers an “out” on spending, assess why the market is “nervous,” and explore Google’s search risks as personalized AI agents emerge. Munster argues token pricing can commoditize while frontier models stay premium, remains bullish on Apple despite Duo return concerns, and says a successful Anthropic IPO is critical and must trade up even if priced lower than hoped. Timecodes 0:00 - Key Man Risk 7:15 - CapEx Implications 15:45 - DeepSeek Redux? 18:15 - Apple — FOLLOW US Instagram: https://www.instagram.com/riskreversalmedia/ Twitter: https://x.com/riskreversal LinkedIn: https://www.linkedin.com/company/riskreversalmedia #investing #stocks #stockmarket The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.