Squawk on the Street Bulls Rule in 2025, AI from Apple to Nvidia, Blinder's Fed Outlook for 2026 12/31/25
Dec 31, 2025
Mike Santoli, a senior markets commentator, analyzes the strong gains of 2025 and the risks of market concentration heading into a potentially late-phase bull market. Alan Blinder, former Fed Vice Chair, shares his insights on Fed policy, predicting the impacts of AI on employment and the economy in the coming years. They explore exciting developments with Apple’s AI features and the implications of hyperscaler spending on key tech firms like Nvidia and Taiwan Semiconductor, highlighting significant moves in the stock market as 2025 wraps up.
AI Snips
Chapters
Transcript
Episode notes
Use Revenue Signals To Judge Hyperscaler Spending
- Watch hyperscalers' revenue acceleration as the signal to justify continued heavy AI CapEx.
- Scrutinize cost discipline and CapEx commentary for signs of measured spending or pullbacks.
Private AI Firms Could Prove The Use Cases
- Enterprise and consumer AI companies like OpenAI and Anthropic may be pivotal in proving diversified revenue paths.
- Their public progress could unlock more spending by the big cloud providers and hyperscalers.
Apple's AI Moment Hinges On Product-Led Demand
- Apple delayed promised Siri/AI features in 2025 and plans a renewed push in 2026 around 'Apple Intelligence.'
- Success depends on whether the feature drives iPhone upgrades or becomes a paid service.