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Rich Habits Podcast
Nvidia's $1 Trillion Revenue Announcement, the Fed's New Inflation Forecast, & Kraken's IPO
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- [00:00]
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- [00:58]
Austin Hankwitz
Welcome back to the Rich Habits Radar, our Friday episode of the Rich Habits Podcast, where every Friday morning we're coming at you with the biggest headlines impacting you and your money. This episode of the Rich Habits Radar is brought to you by vcx, the public ticker for private tech, which is now listed on the New York Stock Exchange. Go check it out. My name is Austin Hankwitz and I'm joined by my co host Robert Kroke. And the three things sitting at the top of our Rich Habits Radar this week include the Federal Reserve Rich raising their inflation forecast in signaling that rate cuts might not happen at all this year. Nvidia's CEO projecting $1 trillion in AI chip orders over the next two years and also confirming that China is ordering chips again. And we're also going to be talking about a weird structural shift in the American economy. The United States now officially has more spas and gyms than stores selling physical products. Robert, you're a physical product guy. I'm sure you've got a lot to talk about with that. And be sure to stick around to the end where we talk about Kraken, the crypto exchange freezing their IPO given the bitcoin bear market. All right, Robert, let's dig into our first story.
- [02:14]
Robert Kroke
Yeah, this is going to be a really good episode. There's just so much really kind of big news out there around our money. And on Wednesday, the Federal Reserve voted 11 to 1 to hold interest rates. Stocks steady at 3.5% to 3.75%. That part was expected. What wasn't expected was everything else that came out of the meeting.
- [02:35]
Austin Hankwitz
Yeah, Robert, a lot came out of that meeting. Fed Chair Jerome Powell said inflation's not coming down as much as they had hoped. He said the implications of the Iran war on the US Economy are uncertain and it's too soon to know the full impact on the economy. The updated summary of economic projections told the rest of the story. The Fed raised their core PCE inflation forecast from 2.5 to 2.7% for 2026. Headline PCE also moved up to 2.7% in 2026. And GDP expectations slightly were bumped higher from 2.3% to 2.4%.
- [03:11]
Robert Kroke
But the dot plot is where everything gets really interesting. And for those that aren't familiar, the dot plot is a chart where each of the 19 Fed members place a dot showing where they think interest rates should be at the end of the year. The Median still shows 1/4 point cut in 20, bringing the target rate to 3.4%. But here's the shift. Seven members now expect zero rate cuts this year. That's up from six in December. And of the remaining 12, only five see more than one cut in December. Remember, 12 members saw more than one cut coming.
- [03:47]
Austin Hankwitz
So let me break that down for y'. All. In three months, the committee went from a majority expecting multiple rate cuts in 2026 to now a super majority expecting only one or even zero cut at all. Back in September 2025, the market consensus was three and a half rate cuts on average. Right? That's the half in 2026. So everyone's like, cool, we're going to cut rates three, maybe four times in 2026. December's dot plot, they said two. And now after January's meeting, it was one. And now here in March, it's technically still one. But nearly 40% of the committee is saying, nah, let's just make it zero. Every single meeting, the market gets less relief that they were hoping for.
- [04:32]
Robert Kroke
This is Powell's second to last meeting as Fed chair. His term expires in May. And Trump has tapped Kevin Warsh as his successor. Warsh has indicated he prefers lower rates, but hasn't said anything publicly about where his thinking is, given the current inflation picture.
- [04:48]
Austin Hankwitz
So, Robert, we've kind of talked a little bit about inflation, the Fed, what happened this week. But like, walk everyone through, because this is very important for everyone and their money. Walk everyone through how this impacts Their portfolio.
- [04:59]
Robert Kroke
Yeah, it is super important. And the assumption is that inflation was a solved problem and that rate cuts were a question of when, not if. That assumption is breaking down right now in real time. And that's where the problem lies. The Dow dropped 750 points after Powell's press conference. And all three major indexes hit fresh 2026 lows on Wednesday. And major indices are down again on Thursday morning as we film this episode. So for your portfolio, that means a few things. Rate sensitive investments like REITs, growth tech, small caps are all going to stay under pressure until the inflation picture clears. And if you're overweight in names that need rate cuts to work, you're fighting the Fed. And there's an old saying on Wall street, don't fight the fed. So when 14 of 19 committee members are telling you rates are staying at 3.5% or higher through the end of the year, you better believe them.
- [05:54]
Austin Hankwitz
Yeah. And the sectors that are actually working right now, think energy, consumer staples, utilities, a little bit of healthcare. They're working because they perform well in inflationary environments. The great sector rotation that we've been talking about on this podcast for the last maybe seven or eight weeks now is taking place. I mean, we. I'm looking at my VDE X L E X O M D O W. What's another one? Oxy Petroleum, Oxy. All of these names in my portfolio, I've got like 50 or 60,000 invested in them back at the beginning of February because we talked about doing that inside the Rich Habits Network. They're all up double digits now. And it is awesome. Where on the Contrary, the Mags Mags ETF, which tracks the Magnificent Seven is down 6% year to date. Right. Energy up double digits. Sexy AI down 7%.
- [06:47]
Robert Kroke
Powell said near term inflation expectations have risen, likely reflecting the substantial rise in oil prices caused by the supply disruptions in the Middle East. We're all seeing it on the news. We can't get away from it. And that's the Fed explicitly telling you that as long as the Iran conflict continues and oil stays elevated, inflation is going to go higher, not lower. The war started less than three weeks ago and there's no ceasefire in sight. So plan accordingly with your money and stay on top of these things. We always talk about active management and right now is when you need to be doing that.
- [07:22]
Austin Hankwitz
Yeah, let's just like double click though, because I think a lot of people are going to make the mistake of watching this episode and say, holy crap, I need to sell my Mag 7 and go all in on energy or I need to get out of the S and P and the Dow because they're down, I need to go buy other stuff. Don't do that. That's not what we're saying. That's not active management. Active management in our mind says okay, cool. We're starting to see the writing on the wall. It's October, November, December. You know, we're inside the Rich Habits network hosting live streams, talking about these high beta names going crazy like Robin Hood and Pal here and they're all having these climax tops and they're coming down 20, 30, 40, 50% bitcoins now in a bear market, right? These things could be foreshadowing what's around the corner for the indices S P, nasdaq, Dow Jones. Now we look at that. The S P, the NASDAQ and the Dow Jones are all now today trading below their 200 day moving averages. That's not indicative of a bullish uptrend in the markets. That is bearish to be honest with you. But now is not the time to get reactive. If you wanted to have active management, you should have done stuff two months ago when we talked about it in the Rich Habits Network. Now you're just reacting. And remember, wealthy people forecast broke. People react, do not react. Here's what you need to do. Here's your playbook. If you're realizing all this at the same time right now like everyone else is, continue to dollar cost average in the major indices like the S and P, the NASDAQ, the Dow Jones VG, VUG, all these big index funds and ETFs that we like and love. Because the mistake people make is they see that the Mags ETF is down 10%. They see that V year to date is down 4% and just 4 1/2% in the last three weeks. Right? They see these numbers and they get scared and they stop investing. That's not you, you dollar cost average. You continue to invest all the time. You are not someone who says whoa, I'm scared to sell everything. Run for the hills and stop. Now is when people get wealthy. You don't make money when the stock market's at all time highs. You make money when the Dow is 8% or 10% off those highs and you can buy it. I bought shares of the dia, the Dow Jones Industrial Average ETF in my retirement account two days ago. I did, right, Because I know when I retire in 30 years it's going to be much higher than where it is today. That's the mentality you need to have.
- [09:45]
Robert Kroke
What a great outtake on the first point. Take us into the next point of this episode.
- [09:50]
Austin Hankwitz
Next point is. Nvidia's CEO Jensen Huang just projected $1 trillion in AI chip orders and China is back. So, at Nvidia's annual GTC developer conference on Monday in San Jose, California, Nvidia CEO Jensen Huang took the stage to a packed house of people and made a projection that pretty much stopped the room. And everyone's jaws were on the floor. One trillion in cumulative purchase orders for Nvidia's Blackwell and Vera Rubin AI chip systems through 2027. A trillion dollars, like with a T? A thousand billion. That is double the $500 billion estimate that he gave at last year's GTC. Unbelievable. Robert.
- [10:36]
Robert Kroke
Yeah, I don't think there's a world where we're in an AI bubble just yet. Yes, there will be some names that might, might not scale as planned, but I don't think Nvidia is one of them. And Nvidia's most recent quarter was $68.1 billion in revenue, up 73% year over year. I'm still a buyer of Nvidia. I know you are as well. We are still bullish long term on that. And that marked the company's 11th consecutive quarter of revenue growth above 55% per quarter. And Wong is guiding for 77% growth this quarter, which is roughly $78 billion. Remember, this is a $4.5 trillion company, the most valuable public company in the world, growing at a rate that defies everything we thought we knew about scale in these AI super growth companies.
- [11:29]
Austin Hankwitz
Nvidia CEO is saying that this new demand is being driven by a fundamental shift in how AI is actually being used. The industry has now moved away from training large language models, which it was kind of the first phase of this, to inference at a massive scale. So I think agent AI applications that spawn other agents to accomplish tasks that are generating exponentially more tokens than a simple chatbot interaction. Jensen Huang put it simply, if they could just get more capacity, they could generate more tokens and their revenues would go up. Talking about these companies like the open clause and the perplexities of the world that I got these AI agents, if they could just get more capacity because the demand's there, people like Robert and I, we're using this stuff, right? If they could get the capacity, the revenue will go up. And that's why $1 trillion is on the table.
- [12:20]
Robert Kroke
On Tuesday, Huang told reporters that Nvidia has received purchase orders from China and is restarting manufacturing for the Chinese market. His exact words, that's new news for all of you, and it's different than it was two weeks ago or even three weeks ago. But that's our condition today and our supply chain is getting fired up.
- [12:42]
Austin Hankwitz
Now, here's a fun fact for you, Robert. China once accounted for official fifth of Nvidia's data center revenue, and the company has been effectively shut out now of this Chinese market since the Trump administration required export licenses last April. Nvidia took a $5.5 billion charge because of it. And as recently as their February earnings call, their CFO told Wall street analysts that while a small number of H200 products had been approved for sale by the Trump administration, we've yet to generate any revenue from China. So this news is major.
- [13:15]
Robert Kroke
And Wang told CNBC the company now has clearance from both sides, the US And China. And this deal allows Nvidia to ship its H200 chips to China, provided the US government gets a 25% cut of sales. There are still caps on shipments, mandatory third party testing, and significant licensing requirements. But the door is now open. And Nvidia's current quarter guidance of 77% growth assumes zero data center revenue from China, which is just crazy to think where this is going to go as they provide chips to China again. So if Chinese sales actually materialize this quarter, it's an upside that nobody is pricing in. So, Austin, this is really great news for Nvidia holders like ourselves. What does this mean for the everyday person watching this episode and you and your money?
- [14:06]
Austin Hankwitz
Well, I think what's really cool, just like before we jump in, is I'm looking at the stock price here and since August of 2025, right? So almost, I don't know, what is that? Eight months ago, the stock has been trading sideways. It hasn't done anything, which I think is just a wonderful opportunity for everyone listening right now to go back and think to themselves, this is when you're supposed to accumulate shares, not when it's going up in vertical like it did back in, you know, let's call it 2023. And then again here, early 2025, it went from 100 a share to 180 a share. You don't want to buy going up. You want to buy it when it's trading sideways. So me personally, I'm excited about this news. I think it's great. And I'm buying more Nvidia. Nvidia is now in a category of one, right? They're not competing anymore with the Mag 7. They are it. No other company in the world is executing at this level, at this scale, with this kind of revenue growth. And it's important. But, and you guys got to keep this in mind, a $1 trillion order pipeline over two years doesn't automatically mean the stock is just going to go vertical from here. Right. No one can predict what the stock is going to do. And at $4.5 trillion in market cap, the market is already pricing in extraordinary growth. So the question isn't whether Nvidia is a great company. We all know it clearly is. The question is whether now is a good time to buy the stock. And if you're like me, you just want to own equity in Nvidia. I've been dollar cost averaging and I'm sure Robert's been doing the same.
- [15:36]
Robert Kroke
Yeah, it's crazy to think how it seems like for the last three years people have been crying to the mountaintop saying that Nvidia is overpriced and the stock is too overblown and it's going to retract. Yet when you look back five years, the stock price is up 1287%. And the China development is genuinely new to all of this. And the street is not modeling Chinese revenue in the current quarter. If orders materialize at scale, and Juan's language suggests they will, that's a meaningful catalyst. But there's a geopolitical risk baked into every Chinese shipment. Export controls could tighten at any time and the 25% government cut eats into margins. So just keep that in mind along the way. And the licensing requirements create operational friction. And this is incremental revenue, not a return to the pre restriction era. So make sure you guys weigh that in when you're considering the pricing of Nvidia and if you should buy more.
- [16:33]
Austin Hankwitz
And again want to emphasize no one can time the market. Nvidia could be trading down 50% in six months from now. I have no idea what's going to happen. I will dollar cost average, I'm telling myself I want to own equity in this business. I think it's the future. I think the earth is being completely rebuilt with AI in mind and Nvidia is powering it. So you can come for us in 12 months when Nvidia is at whatever price it is, I don't care. I'll be buying more. I think Nvidia is great.
- [16:59]
Robert Kroke
I agree with you 100%. I always want to be diversified. That's the message. I share, you share. But I also want to own the leaders in every sector. And Nvidia is definitely that. So. So let's get on to our last point, and this one is really, really fun. America now has more spas and gyms than stores selling actual stuff. The Wall Street Journal published a piece this week with a headline that literally stopped me in my tracks. America now has more spas and gyms than stores actually selling real goods. Crazy stat. But let's get into it.
- [17:32]
Austin Hankwitz
Yeah. For the first time in history, service based tenants like salons and spas and fitness studios and things like that. Least more than 50% of total retail square footage in the United States in 2025. And according to data from CoStar, the commercial real estate analytics firm, service tenants now account for just over half of all retail leasing, whereas 15 years ago the number was 40%. Think about that. Fifteen years ago it was 40%. Now it's 50% and it's tipping over into the majority.
- [18:06]
Robert Kroke
Yeah, I feel like in downtown St. Petersburg there is a med spa or some sort of one of these wellness centers on corner. And the national director of US Retail analytics for costar said something that perfectly captures the shift. He said a handbag used to be a luxury symbol. Today, a more common sign of status is spending money on things like yoga classes or facials. So think about that for a second. The status symbol in America shifted from what you carry to how you look and feel. And I agree with it 100%. And I'd rather feel good and look good than have something that's a depreciating asset that I'm spending my money on.
- [18:43]
Austin Hankwitz
There you go. That's why the US wellness market hit 2.1 trillion just the other year, according to a Global Wellness Institute survey. That includes spending on spas and beauty, nutrition, mental fitness and public health and all that stuff, but literally over 2 trillion.
- [19:00]
Robert Kroke
On the supply side, E commerce has permanently reduced the amount of physical space retailers need to sell goods. Online sales accounted for 16.4% of total retail last year, up from 8% in 2016. So physical retail space is being vacated not because demand for spaces drop, but because the kind of tenant filling that space has changed.
- [19:24]
Austin Hankwitz
And on the demand side, Americans are spending on experiences, self care and wellness at a rate we've never seen before. There are now dedicated shops for those laser facials, IV hydration, vitamin infusions, botox, red light therapy, cryotherapy, all that stuff. Right. So, and it is. It's nuts. Fitness center openings have surged as well. The fitness sector now makes up nearly 30% of all service based leases. Planet Fitness, a publicly traded company, added over 1 million net new members last year and they announced they're opening nearly 200 locations. So Robert, what does this mean for you and your money?
- [20:01]
Robert Kroke
The wellness economy is at 2.1 trillion with a team market that's still growing with the global fitness market projected to reach $135 billion by 2030 at a 7.5% compound annual growth rate. So if you own commercial real estate or REITs, the tenant mix is shifting underneath you and that's actually a good thing if the landlord is adapting to these changes.
- [20:26]
Austin Hankwitz
And this also tells you, Robert, something that's important about the American consumer. You know they're, despite the headlines of the inflation and gas prices and sentiment and all this stuff, they will cut back on purchasing physical goods before they cut back on self care. So Lululemon, they just had their earnings this last week and they guided down closing stores. I think even like bad news bears for Lululemon. While Planet Fitness during the same period of time added a million new members. Right. So people stop spending 130 on leggings, but they're not canceling that 15amonth gym subscription.
- [21:00]
Robert Kroke
Yeah, that's crazy. Planet Fitness adding a million members. Yet when we looked at the stock, still down 30% for the last. You never know how it's going to affect the stock price. So before we get into our radar points, let's give a shout out to vcx. They are the support for this show coming from vcx, the public ticker for private tech. For generations, American companies have moved the world forward through their ingenuity and determination. And for generations, everyday Americans could be a part of that journey through perhaps the greatest innovation of all, and that is the US Stock market.
- [21:35]
Austin Hankwitz
It didn't matter whether you were a factory worker in Detroit or a farmer in Omaha, anyone can own a piece of the great American companies. But now that has changed. Today our most innovative companies are staying private rather than going public. And the result is that everyday Americans are excluded from investing and getting left further behind, while a select few reap all of the benefits that's been the case until now.
- [21:59]
Robert Kroke
Yes, we are so excited to introduce vcx, the public ticker for private tech. VCX by fundrise gives gives everyone the opportunity to invest in the next generation of innovation, including the companies leading the AI revolution, space exploration, defense tech and many more.
- [22:18]
Austin Hankwitz
So be sure to visit getvcx.com for more information. That is get VCX.com carefully consider the investment material before investing, including objectives, risks, charges and expenses. This and other information can be found in the funds Prospectus@get VCX.com this is a paid sponsorship and be sure to come back on Monday where we have an awesome interview with Ben Miller, the CEO of fundrise, who gives us the behind the scenes look into how they built VCX and how they got it listed on the New York Stock Exchange and why you should care about it. So that's Monday's interview. You guys are going to love it. I cannot wait for that one to come out. So Robert, let's jump to our radar points. As you guys might remember, these are sort of our favorite headlines that we personally resonate with. Something we kind of want to bring to the class. A little show and tell. So Robert, walk me through your three radar points this week.
- [23:12]
Robert Kroke
Definitely number one for me is Meta announced it's beginning a multi year rollout to replace third party content moderation vendors with advanced AI systems that handle enforcement tasks like catching scams in illegal media. Meta's official blog post said they'll reduce reliance on third party vendors as the AI systems consistently perform better than the current methods they use. This comes on top of the reported 20% workforce reduction, which for Meta is around 15,000 jobs to offset $135 billion in AI spending. And Meta is the clearest example of a company simultaneously spending more on AI and using AI to cut costs everywhere else. So they're not just building AI products, they're using AI to shrink the human workforce that runs the platform altogether. The stock went up on the layoff news and it'll probably go up on this news as well. Know that's the new playbook. Spend billions on AI, fire, humans and Wall Street. Cheers. And that's not funny by any means, but we're always here to tell you guys, make sure to stay ahead on AI. Make sure to research and figure out how it can make your life, your business and your money better. My number two point today is Nebby has signed a 27 billion dollar AI infrastructure with Meta and analysts believe Nebias revenue to grow 531% in 2026 to 3.35 billion and the stock is up 200% in 2025 and another 35% already in 2026. And the big four cloud providers, AWS, Google Cloud, Azure and Meta are spending nearly 700 billion on AI capex in 2026 and their data centers are capacity constrained at the moment. And Nebius is a NEO cloud operator filling that gap. We've been talking about Nebius for a long time and it looks like it's going to have more upward momentum. At 57 times sales with massive operating losses, it's definitely not cheap. But a $27 billion deal with Meta is the kind of validation that puts this company on the map. So if you're looking for an AI infrastructure play that isn't Nvidia, this is one you might want to watch. And the third point today on my radar is MasterCard announced a 1.8 billion dollar acquisition of BVNK, a stablecoin infrastructure company that most people have never heard of. Visa made similar moves last year. And MasterCard isn't just speculating on crypto. They're buying the plumbing because they've seen the data. Stablecoin transaction volume is rivaling traditional payment rails. And when the two largest payment networks on earth are both building stablecoin infrastructure, the debate over whether crypto has real utility in payments is over. It's happening right before our eyes. And this is the institutional adoption moment crypto's been waiting for. And it doesn't look like a bitcoin price pump. This is real. These are the two biggest companies and they are getting involved because crypto payment rails, blockchain and stablecoins in particular are definitely the future of how money moves.
- [26:24]
Austin Hankwitz
I wish there was a way to profit from stablecoin transactions. I mean like if you think about it that like tether is the only real way, right? And they're making billions of dollars a year in profit, but you can't like, huh, makes you wonder like was that, was that all it was? That just the biggest way that everyone makes money is with stable coins. And that's, that's the end game with, with crypto is the stablecoin stuff. And we were all left out because there's no way to real profit from stable coins I guess than maybe buying MasterCard. But I, I don't know, it's so interesting to, to think about that stuff.
- [26:53]
Robert Kroke
Yeah, it is because there is not a direct way that I know of to profit from it other than the convenience, the less of saving money on transactions for multinational companies. But for the everyday person like you and I, we can't just go in and do much with it to make a bunch of profits. So I agree.
- [27:10]
Austin Hankwitz
And what's wild to think about talking about stablecoins here, Robert, is stripe. For example, in 2025 process total processing volume TPV was $2 trillion. And they took a 3% processing fee on that $2 trillion. And so by flipping to stablecoins that pro that 3% processing fee goes away dramatically. So one, you know, you're mentioning like these multinational companies that could, you know, profit from not having to pay a 3% fee. Like, yeah, that's potentially tens of billions of dollars of like savings that are passed on to consumers if stablecoins ever actually, actually disrupted stripe. But yeah, I don't know, it's weird.
- [27:50]
Robert Kroke
Yeah, it's frustrating to me because the everyday investor like us and the people that watch this, this, you know, podcast, they could say, well, wait a minute, you could profit with Stable coins by staking it, but the problem is you're going to make more money in a high yield savings account than you are staking stable coins without the risk. And so there just isn't a good way right now for us to win from Stable Coins. But I'm happy that we're finding a way for stablecoins to help make transferring money more seamless and less expensive.
- [28:20]
Austin Hankwitz
So, Robert, before I jump to my radar points, I got to give a shout out to Blossom. Blossom Social. It's this awesome, awesome platform that allows people to one sync up their portfolio that they got on whatever broker to have a nice clean view, bird's eye view of their portfolio's performance, the dividends, all the holdings, things like that. But then to also see what other investors have in their portfolio. So they've got like, I want to say half a million members now on Blossom Social and you can see what all of those people are investing into. They've got all the long term investors over there like Robert and myself. We're not day traders, we're not swing traders, we're not doing any of that stuff. We are investing for the long term and our portfolios are on Blossom as well. We love the platform. We think everyone should be on Blossom. It is incredible.
- [29:08]
Robert Kroke
Yeah, I love it just because it's simple, the UI is great and we can see other people's portfolios and really it's just a cool way to just be able to see real people's portfolios, not the, trust me, bro, people that take fake screenshots. And that is why we've been members and we've been on with our portfolios on Blossom for a few years now. So make sure you guys check it out.
- [29:30]
Austin Hankwitz
This isn't an ad. We didn't read this. This is our true testament of how cool Blossom is. Go check out Blossom. They're awesome. So be sure to head over to blossomsocial.com on your desktop, on your computer, on your phone download the Blossom Social app in the App Store wherever App Store you use, whatever phone you got. Link in the show notes below as well. Go check out Blossom all right Robert, let's now jump into my radar points. My three include OpenAI pivoting to coding, getting rid of some of their consumer stuff, Kraken freezing their multi billion dollar IPO and Uber investing over a billion dollars into rivian to launch 50,000 robo taxis, which I think are all pretty cool headlines here. So let's talk about the OpenAI pivoting to coding. The Wall Street Journal reported earlier this week that OpenAI's top executives are finalizing plans to refocus the entire company around coding tools in enterprises, cutting back on those consumer facing the CEO of OpenAI's Applications Division previewed the shift at an all hands meeting and I guess it went well. OpenAI is admitting the consumer chatbot war is a commodity race to the bottom. The real money is in becoming the default operating system for software engineers. If OpenAI goes all in on these development tools. Every startup that raised at peak valuations in the space like Cursor Replit and others just got a big competition smack in the face. So keep an eye on OpenAI and what they're doing with coding up is Kraken freezing their multi billion dollar IPO and blaming it on the bitcoin bear market. So the crypto exchange Kraken, valued at about $11 billion, put their IPO plans on ice this week after confidentially filing with the SEC back in November. And the reason per sources is difficult market conditions, which just means bitcoin is down and we don't think people are going to want to buy this. The company said they may revisit a listing when conditions improve. But this is a major crypto exchange, but with a completed S1 filing and the most pro crypto regulatory environment we've ever had, Right? And they still can't find a good window to go public that tells you just how broken the IPO market really is right now. It's not a crypto problem, it's a market problem. If Kraken can ipo, who can vcx? There you go.
- [31:45]
Robert Kroke
There we go. Yes.
- [31:46]
Austin Hankwitz
Finally, let's talk about Uber. So Uber is putting up $1.25 billion into Rivian to build a fleet of 50,000 autonomous electric vehicles for their ride hailing network. This comes just days after Uber and Nvidia announced a partnership to deploy Level 4 robotaxis across 28 cities and four continents by 2028, starting in Los Angeles and San Francisco. Later next year, Uber stock jumped on the announcement of the deal with Nvidia. And Travis, the original founder of Uber, went on record saying that Waymo is obviously ahead of Tesla in the Robo taxi race and that Elon Musk's company needs a ChatGPT model moment for its vision based self driving to actually catch up. We'll see how that goes. But Uber is betting 1.25 billion dollar on Rivian, putting that money into Rivian plus this Nvidia software partnership. We got a lot of good news around this autonomous ride hailing and I think it's pretty exciting. Not just building the cars or the AIs themselves, they're not doing what Uber has always done, which is be the platform. So that Robo taxi race we've been talking about for about a year now, it's getting more interesting and Rivian stock is up on the news as well, so. So Rivian, cool stuff. Love me some Robo taxis. And who knows what's going to happen with this Kraken ipo, Robert? Who knows?
- [33:05]
Robert Kroke
Yeah, a lot of good information here. I really like this Uber news and if you look at it, you know, for the last six months, Uber's stock is still down, I think 25 or 30%. So we'll see if this news will boost them back up, getting them in the race of this, you know, robo taxi. Who's going to win the race? I don't care who wins the race. I believe Wayo's going to crush, I think Tesla's going to crush and we'll see what happens. Rivian has had just a ton of good announcements lately as well. So we'll keep that on the radar. But I love those, I love those radar points.
- [33:36]
Austin Hankwitz
Everybody. Thanks so much for joining us on this week's episode of the Rich Habits Radar, a new Friday episode of the Rich Habits podcast where every Friday morning we're coming at you with the biggest headlines impacting you and your money. Be sure to come back on Monday where we have this awesome conversation with Ben Miller, the CEO of fundrise, talking about VCX and their listing on the New York Stock Exchange, which is super exciting. And don't to forget forget, go to Wall Street Favorites.com to see what Wall street thinks about your portfolio, upside, price targets, what institutions are buying, what's going on with the valuations. It's a really cool platform that the Rich Habits podcast team has built so you all can have a better understanding of what Wall street thinks about your own portfolio.
- [34:16]
Robert Kroke
100%. You gotta check out wall street favorites.com it is, in my opinion, and I might be a little biased, the coolest tool out there. To help you figure out what stocks are a yay or a nay and help you do the research, we have built something that aggregates all the best software together to help you make sound decisions of where to put your money.
- [34:37]
Austin Hankwitz
Wall Street Favorites.com thanks everyone and we'll see you on Monday, where we interview Ben Miller, the CEO of Fundrise. It.