Closing Bell Closing Bell: 11/10/25
Nov 10, 2025
Tom Lee, co-founder of Fundstrat Global Advisors, dives into the robust AI fundamentals and market relief from the recent government shutdown. Glenn Kacher, founder of Light Street Capital, offers insights on AI adoption timelines, emphasizing which tech stocks to embrace or be wary of. CNBC's Mike Santoli contextualizes market volatility and the interplay of macro data with investor sentiment. Together, they dissect the future of AI investments, Bitcoin correlations, and the potential for a year-end market rally.
AI Snips
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Episode notes
Watch Profitability Over Pure Revenue Growth
- Glenn Kacher says AI usage and revenue growth are stunning, but profitability must catch up to heavy OPEX and CAPEX.
- He implies investors should watch gross profit exceeding operating costs as the path to durable profits.
Prefer Strongly Financed, Full‑Stack AI Players
- Kacher urges caution on how companies finance AI buildouts and avoids firms with risky vendor financing.
- He favors vertically integrated players like Google that own data, models, compute and distribution.
Birthday Robinhood Suggestion Highlights Day Trading Culture
- Kacher recounts seeing social posts recommending Robinhood for a 21st birthday as a warning on retail day trading culture.
- He uses the anecdote to argue for long-term investing discipline over speculative trading.