Anthropic will end up being a very speculative investment, says D.A. Davidson's Gil Luria
Gil Luria, D.A. Davidson head of technology research, joins 'Squawk Box' to discuss Anthropic's revenue growth, state of the AI trade, and more.
Managing Director & Head of Technology Research, Da Davidson
Search every verified Gil Luria interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Gil Luria, Managing Director and Head of Technology Research at D.A. Davidson, appeared on several financial news programs in September and October 2026 to discuss AI industry trends, chip stock valuations, and the impact of rising interest rates on the sector. On Bloomberg Open Interest, he said that Nvidia's ecosystem and chip demand could support growth through 2030, while warning that debt-heavy data-center builders may face serious pressure. He cited CoreWeave as an example, stating that borrowing at 9% interest to build commoditized data centers may not be a good investment if returns are only around 5%. He also noted that the market is "of two minds," with Nvidia, Broadcom, Micron, and SK Hynix trading at lower multiples as if the cycle is over, while other semiconductor and optical stocks trade at higher valuations as if growth will continue through 2030. Luria also commented on Apple's launch of the HomeView smart home hub, calling the company "a little late" to the category but saying the $299 device could strengthen Apple's ecosystem. He described Microsoft's custom AI chip effort as "a distant third" behind Google's TPUs and Amazon's Trainium, though he said each generation brings Microsoft closer to diversifying away from Nvidia GPUs. On the Trump-Xi summit, he said AI coordination with China is a key focus, describing the US and China as being "in a race" for technological advantage. He also said that rising bond yields could act as a "governing mechanism" on AI infrastructure build-out, as higher borrowing costs raise the hurdle for project returns. He expressed interest in seeing more financial transparency from AI companies like Anthropic and OpenAI, asking for details on revenue, margins, and training costs.
Gil Luria, D.A. Davidson head of technology research, joins 'Squawk Box' to discuss Anthropic's revenue growth, state of the AI trade, and more.
DA Davidson Head of Technology Research Gil Luria joined Bloomberg Open Interest to explain why Nvidia’s ecosystem and chip demand could support growth through 2030, while warning that debt-heavy data-center builders may face serious pressure. -------- Like this video? Subscribe to Bloomberg Tech on YouTube: / @bloombergtech Watch the latest full episodes of "Bloomberg Tech" with Ed Ludlow here: • 'Bloomberg Tech' With Ed Ludlow Full Episodes Get the latest in tech from Silicon Valley and around the world here: https://www.bloomberg.com/technology Connect with us on... X: / te…
Ed Elson is joined by Bradley Tusk to break down how Elon Musk is funding the midterms, whether that investment will pay off, and how he sees the elections playing out. Then, Gil Luria joins to unpack the sell-off in chip stocks and what he makes of valuations in the sector. Finally, Ed shares his take on Kimberly Guilfoyle’s resignation. Bradley Tusk is a venture capitalist, political strategist, and writer. Gil Luria is the Head of Technology Research at D.A. Davidson. Timestamps 00:00 - Intro 00:44 - Market Vitals 01:43 - Midterm Spending (ft. Bradley Tusk) 12:45 - Ad Break 15:15 - Chip S…
Get a jump start on the US trading day with Vonnie Quinn on "Bloomberg Open Interest." Inflation heats up as fuel prices risev and Middle East tensions threaten more pressure ahead. Big bank earnings expose a divide on Wall Street. RBC’s Gerard Cassidy breaks down rates, margins and credit risk. Plus, AI demand keeps surging. Stripe Vice Chair Eileen O’Mara on Europe’s startup push and how agentic commerce could transform payments. Chapters: 00:00:00 - Open Interest 00:01:34 - CPI Shock, Inflation Breadth & Fed Rate Hike Risks 00:04:46 - Bank of America Fine, Morgan Stanley Results & Wal…
Gil Luria, head of technology research at D.A. Davidson, joins BNN Bloomberg to discuss Microsoft's stock movement and Apple's AI push. +++ Subscribe to BNN Bloomberg to watch more videos: / bnnbloomberg Connect with BNN Bloomberg: For the latest news visit: https://www.bnnbloomberg.ca For a full video offering visit BNN Bloomberg: https://www.bnnbloomberg.ca/video BNN Bloomberg on Twitter: / bnnbloomberg BNN Bloomberg on LinkedIn: / bnn-bloomberg -- BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets. Subscribe for more: CTV Ne…
Ed Elson is joined by Michael Green to discuss what the bond market is telling us as yields march ever higher. Then, Gil Luria returns to break down what Nvidia’s record stock buyback means for investors and what he makes of the company’s valuation. Finally, Ed gives his take on the next phase of the AI safety debate. Michael Green is the CEO and CIO of Tier1 Alpha Asset Management. Gil Luria is the Head of Technology Research at D.A. Davidson. Timestamps 00:00 - Intro 00:47 - Market Vitals 01:21 - Bond Selloff Continues (ft. Michael Green) 16:18 - Ad Break 18:02 - Nvidia Stock Buybacks (ft…
D A Davidson's Gil Luria joins Kristen Scholer on NYSE Live to discuss What Trump Xi Summit Means for AI.
Gil Luria, Head of Technology Research at D.A. Davidson, joins The Rundown to break down some of the biggest questions facing the AI trade. Gil explains why Jensen Huang is using Nvidia’s financial firepower to keep the AI infrastructure buildout moving, and why financing customers could create serious risks for the industry. He also breaks down the shaky economics behind CoreWeave and other neoclouds, why he believes Palantir may be one of the best companies in the world, and why Wall Street could still be misunderstanding Micron.
Gil Luria, head of technology research at D.A. Davidson, reacts to CoreWeave topping analysts' estimates for second-quarter sales after signing up more customers in a booming market, with sales more than doubling to $2.58 billion. He speaks on "Bloomberg The Close." -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect…
Gil Luria and I dig into the bull case after another blockbuster quarter with 93% YoY growth. The reason Palantir wins is their head start on building an enterprise-wide ontology, unconventional usage of forward-deployed engineers in their SaaS model, and customer-aligned, outcome-based pricing. We debate $PLTR’s valuation, future growth trajectory, and AI-driven software budget crowd-out. “Retail investors figured it out first, bid it up all the way to $200. Institutional investors were always caught a step behind, including most of the sell side.” “The bull case is that the stocks’ valuatio…
Gil Luria, D.A. Davidson head of technology research, joins 'The Exchange' to discuss which stocks are best positioned to win the AI race. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/42d859g » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Watch CNBC on the go with CNBC+: https://www.cnbc.com/WatchCNBCPlus Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Onlin…
Ed Elson is joined by Gil Luria to break down earnings from Microsoft and Meta, and what the disparate results reveal about what’s next for the AI trade. Then, Mike Gapen returns to discuss the Federal Reserve’s interest rate decision and why he thinks rates might stay stagnant for the rest of the year. Finally, Ed gives his take on FIFA’s decision to sell its profits. Gil Luria is the Head of Technology Research at D.A. Davidson. Mike Gapen is the managing director and Chief U.S. Economist at Morgan Stanley. Timestamps 00:00 - Intro 00:45 - Market Vitals 01:19 - Meta and Microsoft Earnings…
“That's because they've run out of the ability to borrow even at 9%. That is a very concerning factor. And, again, I think that's the broader topic here is that, the build out, as long as it's governed at a good rate and we're using cash flow to invest in it, and we understand that it's speculative, it's one thing. But if we're gonna continue to chase capital 9% and above, that capital will stop being available at som”
“The topic here is leverage. Right? So what's important to note is even if I am optimistic about the cycle and about the use of AI, that doesn't mean there's not bad behavior out there. And borrowing at very high interest rates in order to build data centers that are increasingly commoditized outside of the hyperscalers may not end up being a good investment. If CoreWeave is borrowing at 9% and the best return they ca”
“Real numbers. What is their gross revenue and net revenue? How much are they spending on training? How will that trend? How much do they pay per gigawatt of capacity? What is their outlook? Has their growth decelerated? There are so many questions. These are the two most important companies in the world right now. They are the beginning of the value chain. They are collecting from companies and consumers. They are th”
“The topic here is leverage. Even if I am optimistic about the cycle and the use of AI, that does not mean there is not bad behavior out there. Borrowing at high interest rates to build data centers that are increasingly commoditized outside hyperscalers may not end up being a good investment. If CoreWeave is borrowing at 9% and the best return they can get off that is 5% return, it does not matter how much they scale”
“Yeah, there's a huge dislocation here. The market is up two minds. There's three or four companies that it's treating as if the cycle is already over. You mentioned them. SK Hynix, Micron, Nvidia, Broadcom. Those are trading at you know 18 times and and four to five times respectively. Where much of the semicomplex is still trading at 30 40 50 times, right? So the market is saying yeah for every other chip company we”
“Yeah, I'm going to take the other side of a lot of those arguments. Let's just start with the fact that in the next few hours, Anthropic is going to give us for the first time in a little bit more of an official manner what its revenue is. And as they tell us what their revenue run rate is, it's likely that combining their revenue run rate with OpenAI's revenue run rate, we're going to be well in excess of a hundred ”
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