CEOInterviews.AI
Start App
Try: AI strategy tariffs earnings guidance layoffs interest rates growth

Stacy Rasgon

Managing Director & Senior Analyst, U.S. Semiconductors, Bernstein

Search every verified Stacy Rasgon interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Stacy Rasgon, senior analyst at Bernstein, appeared on CNBC's "Fast Money" on August 20, 2026, to discuss Nvidia's upcoming earnings report. He stated that the company's numbers "broadly should be very, very good," citing the start of the Rubin product cycle, Nvidia's next-generation platform. Rasgon noted that Nvidia had previously guided to over $1 trillion in revenue over a three-year period, which he said would imply close to $500 billion in data center revenues next year, and expressed hope that the company might raise that guidance. Rasgon also addressed questions about how customers would finance large AI-related expenditures, saying that questions about returns were "starting to get more and more settled in the favor of the idea that there is a return." He acknowledged that some potential customers are startups without long track records, but noted that lease backstops and Nvidia's strong balance sheet provide strategic advantages beyond technology and ecosystem. He observed that Nvidia's stock had recently outperformed the broader semiconductor index, with the SOX down about 5% over the past month while Nvidia was up 4-5%, and said he would be hopeful that reversal could continue given the start of the new product cycle.

Recent appearances

Verified interview transcripts

Notable quotes

“There's no incremental capacity. Supply is tight and demand is very strong. That's not slowing down. You probably don't have to worry at all until supply starts to come on like in a big way and then you'll see the tide go up. We'll see if everybody's naked or not, right? This actually happened, you know, it wasn't that long ago, a year, two years ago, when the actual accelerators, the GPUs were in very tight supply. ”

“At some point, will you see an air pocket? I mean, presumably you will. I mean, this is what always happens eventually. Only thing I can say is it's not now. It's certainly not this year. It really does not look like it's next year. 2028, I don't know. We'll have supply starting to come online in a bigger way in 28 and then it will be a question of demand.”

“So, if you were to ask me, you asked me earlier like what what could blow it up, right? I mean, if you ask me like let's say the demand is there, again, Jensen says we're going to do three trillion plus in what would stop us from getting there? Assuming the demand is there, it's it's probably power. I mean certainly the US electrical grid is not capable of of adding what would need to be added probably for the demand”

“So, I mean, ultimately, it's going to come down to return. Like, either they're spending all this money and getting something out of it at the end of the day or they're not. And if it turns out that there's no return, then the whole thing by the there's nowhere to hide, by the way, if this were to happen. If it turns out there's no return on AI, it's all it's all a shell game. It's all everything's coming crumbling d”

“The question of whether or not we need to keep building all this data center either not as much or much more comes down to how much compute are we all going to use, like how many tokens are people going to use, and I don't know the answer yet but right now it's going literally vertical. So that is something I guess we'll have to see as we go forward but as of right now the only thing we're hearing from any of these f”

“There's been a real appetite to play other names in the AI supply chain and frankly AI is now getting so big that it's dragging everything along with it. It started with the GPUs and the accelerators a year or two years ago, and then one at a time different other end markets that are more peripheral to it but important for it have come into focus. We went from the GPUs and accelerators and then we went to memory and ”

The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →