Doug Clinton, Intelligent Alpha CEO, joins 'Money Movers' to discuss Nvidia ahead of its earnings report.

Doug Clinton, managing partner at Deepwater Asset Management, stated that the current artificial intelligence (AI) bull market could continue for another two to four years. Clinton's firm uses AI to estimate company earnings, and their models predict strong results for NVIDIA, a leading company in the sector. He noted that while valuations are elevated, NVIDIA's multiples have not expanded as much as some other major technology firms.

Clinton also discussed investment opportunities beyond mega-cap stocks, pointing to Datadog as a software company poised to benefit from increased enterprise AI adoption. Additionally, he mentioned First Solar as a non-AI-related pick, citing its strong manufacturing presence in the United States and recent policy developments that could support the sector.

AI bull run has few years of legs left to run, says Doug Clinton

Welcome back to money movers NVIDIA obviously front and center this week as the company gets set to report earnings on Wednesday after the bill Stocks up 13% since hitting that four trillion dollar market cap and is leading the NDX in today's session Can this quarter's print extend to the winning streak joining us here at post 9 this morning intelligent alpha CEO and deepwater asset management Managing partner Doug Clinton's with us Doug. Welcome. Good to have you in. Thank you. You do think you expect them to beat? Yes We do and at intelligent alpha we use AI to actually estimate earnings for about a thousand different companies every quarter For NVIDIA our models expect a beat on revenue a beat on EPS And so I think you know We're gonna get a maybe sigh of relief with people being a little bit more edgy about AI right here All right multiples and reasonable at these levels I think for NVIDIA it is if you actually look at the mag six So take Tesla out of the equation just for a moment The the group is trading at about 28 and a half times Earnings forward earnings which is a little bit on the higher side NVIDIA actually is the one that hasn't expanded as much as the others in the group and so them it's sort of like low 30s I think it's still okay. How are you thinking about this sort of AI bull market? from the 30,000 foot view We think about in two different ways There's kind of the long-term view which is our view has been this market this AI bull run Has another two to four years left in it. Okay, people are starting to talk about bubble. Is it a bubble? Is it not a bubble the more important question is is it over and I think the answer is it's not over In the shorter term though as we think about that long-term trend upward for the AI bull market You will have periods where you kind of go above the mean and then below and I think we're at a period right now That's probably a little bit above. We're probably a little bit hot It's cooled off the last few weeks But that does give me a little bit of pause in some of the real heavy AI names Are you enthusiastic about anything other than mega caps? We are there's two one that is a I related and I'll give you one That's not the one that is a I related is data dog. So D dog Nobody wants to invest in software software has been awful in the tech sector this year And I think data dog is one of those companies where they do have a real AI story as enterprises build more AI Applications internally they need observability. They need to understand how their applications are performing I think data dog could eventually benefit from that The other one that's not AI and this is picked by our AI model is for solar and so solar Controversial given the current administration. There's been a lot of noise about what's going to happen with policy That seems to get ironed out a little bit here in the last few weeks and I think for solar is one They do have a lot of manufacturing in America. They could be bringing back more in announcements next month Yeah, I mean it's sort of there's so many headlines about the strained grid and that's only as of today in the future What are we gonna do? Why would we be turning our back on some elements of power generation, right? That's that's the bullish argument. It is. Yeah nuclear has been a thing, but I think solar is part of that

Kilmar Abrego Garcia is back in ICE custody and is facing deportation to Uganda, the Department of Homeland Security says, after he was released from criminal custody last week.

Baltimore

Abrego Garcia in ICE custody, court blocks immediate deportation

Ukrainian President Volodymyr Zelenskyy said he will meet with the U.S. and other countries this week to discuss a potential meeting with Russian President Vladimir Putin aimed at reaching a ceasefire.

Kyiv

Ukraine Invasion

Zelenskiy say he will meet with U.S., others on potential Putin talks

U.S. President Donald Trump says Chicago could be the next city to see National Guard deployment, sparking strong opposition from Mayor Brandon Johnson and Governor JB Pritzker, who argue crime is already falling and federal intervention is unnecessary.

Chicago

Trump threatens to send National Guard troops to Chicago

Four journalists working with Reuters, Al Jazeera and others were killed in explosions at a Gaza hospital. Gaza officials blame Israeli drone strikes, though CBS News has not independently verified the claims.

Jerusalem

Middle East Conflict

Four journalists reported dead after Gaza hospital blasts

U.S. National Guard troops patrolling the streets of Washington D.C. as part of what President Donald Trump said was his crackdown on crime began carrying weapons on Sunday night, two officials said.

Washington

National Guard patrolling Washington DC begin carrying weapons

In a visit to Kyiv, Prime Minister Mark Carney affirmed Canada’s support for Ukraine and committed to sending soldiers if a ceasefire with Russia is reached.

Carney in Kyiv pledges support, possibly troops for Ukraine

The Pickett Fire is growing in California's Napa County, prompting new evacuations as it threatens homes and wineries. The flames, fueled by scorching temperatures and dry conditions, are being battled by hundreds of first responders.

Napa Valley

Evacuations ordered in California as heatwave fuels wildfire

Democrats are pushing back against President Trump's plan to send the National Guard to more cities, including Chicago, New York and Baltimore, as troops continue to patrol Washington, D.C. State and local leaders say they have crime under control.

Democrats slam Trump's plans to send National Guard to more cities

Beef prices are at record highs with the average price of a pound of ground beef topping $6. Lisa Rozner reports on what's causing prices to soar.

Why U.S beef prices are soaring

A defiant Ukraine marked its independence from the former Soviet Union Sunday amid more fighting with Russia. Chris Livesay reports on how world leaders joined in, voicing their support.

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The boats are produced by unknown Turkish companies and are then sent disassembled in multiple shipments to avoid suspicion in what authorities say is for the sole purpose of trafficking migrants across the English Channel.

Sofia

Inflatable boats used for migrant trafficking seized

Less than 24 hours after he was released from jail, Kilmar Ábrego García was told that U.S. immigration officials plan to deport him to Uganda. The Salvadoran national, who has been living illegally in the U.S. since about 2011, was wrongly deported to his home country earlier this year.

Maryland

Kilmar Abrego Garcia told he may be sent to Uganda

Erik and Lyle Menendez remain behind bars, their hopes for release dashed by two separate parole boards more than three decades after murdering their parents. Elise Preston reports.

Los Angeles

Erik and Lyle Menendez denied parole

Tourism in Las Vegas is slumping this summer, costing the city billions. That could signal trouble ahead for the U.S. economy. Andres Gutierrez has new details.

Las Vegas

Las Vegas tourism slumps this summer, signaling trouble for U.S. economy

Texas Republicans took a victory lap after an early morning vote Saturday that sought to give their party an edge during the 2026 midterms. Democrats in Texas plan to challenge the legality of the new congressional map, saying it dilutes the power of minorities.

Austin

Texas Republicans take victory lap after redistricting vote

Israel has called the United Nations' declaration of famine in parts of Gaza an "outright lie," but multiple U.N. bodies, more than 100 humanitarian groups, and several of Israel's own allies have warned for months that the war is causing starvation among civilians.

Tel Aviv-Yafo

Israel denies U.N.'s declaration of famine in parts of Gaza

U.S. President Donald Trump says he will impose sanctions on Russia if it fails to reach a peace deal in Ukraine within two weeks. But Ukrainian President Volodymyr Zelenskyy says Russia’s ongoing attacks on his country show that President Vladimir Putin is not interested in peace.

Putin’s not interested in peace talks, Zelenskyy says

Lyle Menendez was denied parole late Friday night following a day-long hearing in California, just one day after his brother Erik's parole appeal was also rejected. The brothers have been in prison since 1996 for killing their parents in what they say was an act of self-defense.

Both Menendez brothers denied parole

At least five people are dead and dozens are injured after a tour bus traveling from Niagara Falls flipped over on the New York State Thruway near Pembroke, New York.

Pembroke

Western New York bus crash kills at least five people

Federal agents searched former Trump adviser-turned-critic John Bolton's home on Friday morning. President Donald Trump denied knowing about the investigation, which is related to his handling of classified documents.

Bethesda

FBI raids former Trump adviser John Bolton's home, office

The FBI searched former national security adviser John Bolton's house in Bethesda, Maryland, early Friday morning, the bureau confirmed to CBS News.

FBI raids former Trump adviser John Bolton's home, D.C. office

Kilmar Abrego Garcia, the Maryland construction worker deported to El Salvador and then returned to the U.S. on smuggling charges, has been released from prison in Tennessee, his attorneys say.

Nashville

Kilmar Abrego Garcia released from jail in Tennessee

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Tour bus crash in New York causes 'several fatalities'

Attorneys general in 14 states and Washington, D.C., accuse TikTok of designing its app to keep users hooked. Court-released edited video shows some company staff discussing the toll it can take on children and teens.

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