customers across construction and some of the other industries >> and we know it is really what fueled the markets today, with the nasdaq up 1.7% the s&p finishing the day up 0.9% that's going to do it for us here at "overtime. >> "fast money" begins right now. right now on "fast," boom or bubble nvidia blowing the doors off the a.i. trade and taking the sector along with it, but is this pixie dust part of a future fairy tale plus, back on the attack against his old rival carl icon. icon enterprises plunging is 14% today. and later, elon musk heading back to twitter spaces, going to be talking to, of all people, ford's ceo jim farley. what will they talk about? and fresh off ringing the nasdaq opening bill, pll founder will be alongside to talk about

his league i'm melissa lee. on the desk tonight, tim, karen, dan and guy. what could turn out to be a pivotal moment in the rise of a.i. shares of nvidia soaring more than 24% today its biggest gain in more than six years, after the chip maker said it is seeing surging demand for a.i. products. the company adding $185 billion to its market cap just today a shade shy of the single biggest one-day gain ever for any traded company the move boosting amd, microsoft, alphabet, c3.ai, as well marvell technology getting a boost. that company's ceo saying a.i. has emerged as a key growth driver for the company kristina partsinevelos with more on that side of the story. >> yeah, you said it really shares just started soaring after they said they are projecting 2024 a.i. revenue to

double without really defining what encompasses all that revenue the key word, a.i., and that's exactly what the ceo said just within the first minute of the call he did say eight times, just eight times in the first minute. guy usually likes to hear that yes, it was a two-sent adjusted earnings rate of $1.32 billion yes, q-2 guidance came in higher, but only just slightly if you look at revenue, though, and the breakdown, consumer sales and auto industrials both fell short of expectations the coo saying they are, quote, expecting revenue growth to accelerate in the second half of this fiscal year, accompanied by gross and operating margin expansion. but they do admit, in this press release, they are probably going through it right now they are still in the early stages of their a.i. ramp, so, a.i. is the word that's helping and they are projecting muff higher revenue growth but still waiting to see the

definition what encompasses that, just switches >> keep us posted on that, kristina, thank you. so, with all this a.i. euphoria, begs the question, is this the start of a boom in a.i., or the mark of a bubble brewing in the space >> oh, i hear it now sorry, took a second >> thought it was coming from outside. >> it's a sound effect >> boom or bubble? what was the boom sound? >> can we hear that again possibly >> one more time >> oh. >> oh, got it. >> yeah. >> crack staff in ec >> yes, there you go >> they worked all day on that one, didn't they >> apparently they didn't use a.i. for that, though. >> is it -- it's not going away, clearly. i mean, the internet didn't go away in '99, 2000, either. it was here to stay, but valuations got stretched what scott at sun microsystems tried to do the math around why his company, it was not sustainable growth the way the market was projecting, and

history is repeating itself right here nvidia is an extraordinarily important company. it's receiving a premium valuation on the back of everything we've been talking about. and on a day where it adds $200 billion, at one point today, they're only 45 companies in the world that have a market cap of $200 billion think about that for a second. traded 160 million shares, and that's not short covering. dan talked about it, there is no short interest whatsoever in nvidia these are people pouringinto the name and getting out of other sectors. is it here to stay, euphoric absolutely bubble, no, but valuations are >> does the backdrop of the markets, in terms of the things we are facing up against, debt ceiling, you know, troubles, tim, does that backdrop make this look more attractive, do you think? >> it makes it more -- >> or troublesome? >> debt ceiling and recession and higher rates and fed and stuff that we're overcome with every day, i think this has a slightly different driver, right? and to the extent that you're

talking about a secular trend and, in fact, a rage, it's something that i think is important to differentiate i think megacap tech is outperforming because of some of those reasons, i think they're safe it's safety growth, and we've seen that over and over again. if you look at semiconductors as a group today, they now broke through that march '23 resistance level and if you look at pieces of the market that take the market higher, not all stocks, and we do this all the time on this show, this is the kind of news that does take the market higher so, i would just say, you look at the analyst community, we often are -- we're critical when they suddenly upgrade on higher pricing. you can't really blame the analyst community when they come in and say, here's what we did, we're going to have record sales in the quarter, the april quarter and we're going to have 80% growth in the july quarter, and we can now see demand over the next multiple quarters, and that's why you're getting those upgrades >> karen, you're long nvidia >> i am long >> bravo >> oh, well, thank you

and amd. but i actually -- i am not sure whether nvidia is more expensive today or less expensive today, right? i thought those numbers were so incredibly extraordinary, and remember, they're in the picks and shovel business, which we always like to talk about, that's where you want to be, not in the hunting for gold. so, could there be -- is there a bubble, yes? i feel like we're in the early innings of a bubble, you know -- >> oh, hold on, listen >> here we go. nice so -- and i can't help but think, you and i were taexting about this when you were on the show last night, of this being a potential sandbag. if you think you are going to be 11 billion-ish, you don't put out 11 billion so, what do they really think they're going to do? and they talked about -- what? >> no, i -- sandbag, the terms we're using here, throwing bubbles around sandbags. >> i know, it's extraordinary. we don't see this very often,

and i feel like -- are we in the middle of the stock? we're closer to the middle of the stock mania than the actual mania of the evolution of whatever a.i. is, which encompasses everything i know we often just put in the term pixie dust when we talk about stocks but they're really in an extraordinary position, so -- i'm not at all surprised i actually thought it would be some even higher targets for this >> so you stay long? >> i'm just staying long >> not hedging -- >> the stock is cheaper today. >> i think the stock is cheaper today. it is cheaper, it's certainly cheaper on an expected p.e. basis. so, now that may be, okay, top, you know, time to go, but i am staying long >> all right, so, no congrats here i've been short via puts, defined risk and not about the technology, not about any of the stuff, it's really about valuation, it's about expectations and in that quarter, the guide they gave was truly astounding i can't remember that percentage on such a short period

they reported three months ago, gave guidance, right and the way they beat and what they just guided for does tell you that there's obviously something going on, but it really speaks to what i think is a supply/demand sort of issue here you have saw that announcement from microsoft that was just a few weeks ago with amd, okay, they're looking for other sources here, right? they need to kind of get the supply that they need, and a. h amd has gained 50% after their quarter and guidance, so, if you think about visibility, what the lack of visibility that nvidia had three months ago, the lack of visibility that amd had, just three weeks ago, for similar sorts of products, it doesn't actually make me feel that good about what the back half of this year might look like i suspect there's lots of double ordering, maybe triple ordering. maybe quadruple ordering for these sorts of chips right now listen, this is the semiconductor industry they make chips, they make cpus,

they make gpus. it's very cyclical, right? so, it's not like -- this is an upgrade cycle, right all of a sudden, the data centers that have been built out over the last ten years by the hyper scalers, they need faster chips to do this thing that was introduced to us last year, rea consumer-facing basis, this generative a.i all the companies are going to rush around, say, i need large language models, i need this, just -- to compete here's the thing the application of these processes are not going to be something that a lot of these companies are going to be able to monetize that quick little any time soon. the chips are really expensive, okay the cost to compute is really expensive. whole host of things >> i agree with you on that. >> what i'm saying right now, what the market is doing is not rational, but we've seen this before, okay like we've seen it again and again in lots of different hype cycles around technology so, my trade was a trade i kept on rolling up puts. i kept on losing money we call it good money after bad. that's me. i'm the dumbest guy on the desk.

you guys know that but i like to think i have a good handle for what's going on. i just think the likelihood of this stock to be able to go up another few hundred billion is not -- >> did you roll up again >> yeah. >> you did >> yeah, to july >> okay. what do you think happens between now and july >> i think there's going -- the fever is going to break at some point and i think -- i just don't know how you make money from here. look at today. microsoft was up 4%. google was up 2% think about, it's raising the biggest boats in the market here, and then all the crap, the things that you think are pure play or whatever in this marvell, they have exposure. they are upgrading their current chip sets, like, and their certain offering so, makes sense to me, but i'm not saying to short it i wouldn't buy it. >> earlier in the week, we talked about micron, china, all that thing, and nvidia, it was interesting to me, i think monday, nvidia actually made comments about, and i'm paraphrasing, the potential devastation if this rhetoric, if this escalated in terms of

u.s./china and what it would mean to the sector i'm like, that's really interesting they said that then you come to realize, nvidia's got a lot of skin in this u.s./china -- >> where do they make their chips? >> game. so, what would happen -- this didn't go away magically president biden said he thought that u.s./china relations would improve. six hours later, president xi said, i don't know what you're looking at, pal, it ain't getting any better any time soon so, that is not going away, either to dan's point, if you are looking for a potential downside, it still comes in to face all these things we've been worried about for quite some time >> our next guest warns this is distracting investors from recession risks. david, great to have you with us when you look at this sector, doesn't feel like we're talking about these companies living in an company that is about to go into a recession, an economy that's about to hit hard times what to you think -- what do you

think the fed thinks about this sort of bubble-like action in a sector of the company? do you think it makes them think that their job is not done >> well, i would say that there's no question, i think, that we have a price bubble, and, you know, we had a price bubble with the dot coms and the internet back in the late 1990s, but there's the financial b bubble, but then there is, you know, the real impact on the economy, and you cannot argue that the internet was a game changer for productivity, so, we had a real-time shift in productivity and what that meant for the corporate cost curve in general. and you had a financial bubble at the same time so, they can coexist i mean, if you look at the six-month chart of the nasdaq 100, you have to be blind not to see that, okay, this is actually -- looks very weird and it's way overextended, but -- if i'm at the fed, i'm

looking at this as paul truder jones said, i think last week on "squawk box," that this is a major productivity accelerator, and you're at the fed, you're thinking, okay, this should actually help reduce the corporate cost curve and should be disinflationary so, from a real economic sense, would work towards their an anti-inflation objectives. >> david, it's tim, thank you for joining us when we look at what interest rates are doing, and what people think the fed -- having more conviction that the fed has more conviction staying the course, it adds to your thesis, and the thesis that first of all, the cost of financing a lot of these corporates, their earnings profile are changing dramatically and that rates are staying higher for longer. talk about how you think that the fed, or maybe you don't, but where the fed is, truly, on their course here, but what that means for equities, when so much of the corporate earnings structure has been tied to zero rates for so long and that equities aren't repricing that

>> well, you know, it depends, you know, which index you're looking at and what sectors you're looking at so, i don't think you can look at the stock market right now as some sort of homogenous entity the three most economic sensitive areas of the market, banks, consumer discretionary and the transports, okay, they have the highest torque to gdp they're down more than 30% from the cycle highs they're actually behaving in a -- the exact same pattern they have going into the past four recessions you look at the s&p 600, the russell 2,000, they are still, even with the better tone this year, they are still in fundamental bear markets so, you know, look, when you have a situation where the s&p is basically now 27% technology and technology is growth, which

means it's a long duration asset, that, yes, we'll look through the gyrations and around the business cycle, doesn't mean they can't get hit, and you saw what happened back in the early 2000s, but by definition, those stocks are going to react differently to the economic cycle than the pure cyclicals. and the cyclicals are giving you a recession signal >> david, thank you for joining us appreciate your time david rosenberg. >> thank you >> interesting to think on the other side of this bubble, inflation of stocks related to a.i., could be disinflation, because of the productivity gained, and maybe if we get to 3% or 4%, that the last couple of percent, the last, could be productivity gains -- >> not today >> no, no, not today years out. years out. >> yeah, but the biggest part of the fed's problem right now is the job market i mean -- what's going on right now is more to me what we're talking out over the next two to

three years, and i -- i -- t theore theoretically, we know the last three decades have been disinflationary based upon what technology has done. i doubt think this is going to help the fed i think inflation is very sticky. another high profile twitter spaces collaboration is just minutes away this time, elon musk is going to host ford's ceo jim farley two rival auto chiefs sitting down talking business on twitter. kind of odd, right for more, let's bring in phil lebeau phil, as i recall, you know, jim farley in the past has sort of needled elon musk, needled tesla, talked about them openly. it's sort of a frenemy situation. >> i think there is respect between them, in terms of evs, developing evs jim farley will tell you, i mean, and i've asked him this on-air, he will tell you privately, he has immense respect for what elon musk and what twitter -- excuse me, tesla

have done and what they've developed here so, this twitter spaces conversation will be inte interesting. they're saying it's about expanding ev adoption, so, what does that mean we'll find out in the next 20 minutes, but i would be curious to see how this conversation goes and if they break new ground in terms of what can be done to accelerate ev adoption >> yeah. phil, thank you. keep us posted on what goes on phil lebeau. who would have thought five months ago we'd be monitoring twitter spaces for breaking news, but here we are. >> listen, we thought -- well, i shouldn't say we i thought this was going to be a great wail for monetize the platform with twitter spaces, probably a year or so ago. that didn't happen, right? and twitter still -- the platform is probably still a bit in trouble here, but it's clear they want to use this now as an avenue to sort of discern and put out news, which is a good thing. so, i give elon musk credit for this, for sure >> yeah, and people want to talk to elon musk >> 100%. >> maybe he will be the draw for

other big voices on twitter spaces if elon musk said, you want to do a twitter spaces with me, you would -- >> i'd listen to that. >> i would say yes, of course. >> me, too >> right i mean, he is interesting, no doubt. how about -- let's see, dan -- >> oh. >> elon musk tweeted at you, hey, dan -- >> he did tweet at me. i tweeted back at him, i got kicked off twitter listen, i think he's full of you know what. i think he's using this as a little trick to get twitter, you know, engagement going, you know -- >> why is this a trick this is a way to get it going. >> well, because he's the owner of the platform, 134 million users, no one else is really doing a whole heck of a lot on the platform the platform is a zero just go look at it it feels like a dead stick go on there, there -- >> what's a dead stick feel like >> i'm just telling you, i mean -- none of us are -- we used to spend a lot of time during the shows tweeting and engaging with viewers. that's not going on anymore. and so, to me, i think it's

funny that we follows up after what seemed like an absolute dud of an experience for desantis launching his presidential bid last night, i know there were a lot of people on it, they had a lot of problems on it, a lot of criticism of it. like, why is he the guy who is interviewing these sorts of people coor kwhaefr i thought this guy is a very dangerous guy. the richest guy in the world who owns this big platform, he can do whatever the hell he wants with it. i think we are whistling past the graveyard when we give him a pass, thinking this is going to be all -- >> mel >> yes, guy? >> i didn't two tothe medical school, but i don't think dead stick is something you want to have, but tim, to your question -- >> yeah, just curious. >> i believe aviators talk about dead sticks as the pilots, if something were to happen in their aircraft and they are no longer able to control their plane, very top gun thing, to talk about a dead stick. >> actually in "armageddon," remember the classic -- >> did you have an internship in the cockpit, too

>> continue this in the break. >> in the break. coming up, gap and other retail names reporting results that's next. plus, the billionaire battle lives on a dig at how kicon enterprise does business. more on that when "fast money" returns.

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welcome back to "fast money. we have retail earnings, starting with gap. substantial improvement in gross margins. that conference call is under way. courtney reagan has the latest >> shares up 15% on a surprise profit from a retail their's frankly struggled under some inventory missteps and executive turnover gap revenues are in line, comparable sales down 3%, as e peexpected banana republic continues to struggle comps down 8%. old navy down 1% that was expected to be higher and athleta down 13%

margins grew 570 bay ussis point less markdowns guidance mixed lower second quarter revenue expectations, but full-year sales are reaffirmed women's was the best category for old navy and gap active and kid's, those were softer there was some slower demand from the lower income shopper at old navy overall, store sales stronger than online sales, down 4% and 9% and that call is still ongoing melissa? >> courtney, thank you tim? gap? >> well, it's great that the gross margins are better, the company is making profit they announced a second quarter dividend, hurray, be the lapping, very difficult, you know, comps on freight and distribution, i think, are not reasons to do somersaults or cartwheels maybe somersaults is what you are doing when you are hitting those. i think good story, let's watch it the trends in retail are not encouraging, and they're not encouraging in apparel or

discretionary retail look at lululemon, nike, which i'm short. you are going to continue to see some of the margin erosion >> short interest in 14% >> which is why this is -- if you look, inv ventories were do year over year, so, that's a good thing in this environment, which means margins will be better for a couple quarters doesn't mean they're out of the woods by any stretch of the imagination, but it means the stock can get back to 11 bucks, which has been level of resistance a couple times, so, investing here, no are you trading the stock? yeah, people will cover their shots. we saw it happen these are broken businesses whose stocks can rally in this environment. >> let's get to ulta shares are dropping despite a beat and strong full-year guidance back to courtney with the details. >> yeah, so, ulta slightly raising its full-year revenue guidance, reaffirming earnings and comparable sales forecast. ups 9.3%, in line with

expectations, but really strong compared to the rest of retail services like hair and makeup, that was up double digits. on the call, the ceo say promotional activity is increasing and sales in the mass category continue to grow faster than pre prestige he said it's hard to know if that's due to consumer price sensitivity or strong engagement with those mass brands it's been a trend that's continued. skin care, the best performing category and ulta continued to see pressure from shrink so, another retailer calling out organized retail crime specifically also higher levels of aggression and violence that is impacting ulta's forecast going forward they spent a little bit of time on that topic on the call. melissa? >> courtney, thank you courtney reagan. karen, you have this >> i do, yes the lord giveth, the lord taketh away it wasn't a terrible quarter, but this is a stock that expects better, right? and actually their guidance going forward was a little bit below the street, so, the gross margin was a little light, which isn't good

it's -- i think that shrinkage is in the gross margin, so, there's that their expenses were really the part that was most disappointing to me. i don't know if expenses of trying to prevent theft is what's in there. that was disappointing the store count growth was lower than i thought i don't know if that made them pause, i mean, it wasn't terrible, but the stock, you know, went from a 19 p.e. to maybe now, i don't know 17 p.e., depending on where -- guy has been all over this, the charts -- >> we talk offline, karen and i, about ulta >> and the chart looking terrible and so it's broken through that resistance that you pointed out. i mean, i'm long -- i'm disappointed i got to go back and hear the call and hear what they said about it -- i don't know, they were stealing fragrance, they pointed that out i don't know why that's particularly a good thing, i guess it's high margin relative to sell to organized crime, i

guess, but this is a broad pervasive problem. >> it really is. yeah what's the next level? >> this is it, actually. so, it's 450ish. 2020, it's still in an uptrend if you look at this chart. if we can go longer term, you'll see. i thought it would stop around 482 or so and if you look today, that's exactly where it did stop and it closed at 485, but here we are now i think valuation's actually -- you can make a relatively cogent case on valuation. it's going to trade tomorrow probably north of 6 million shares, going to flush a lot of people out, so -- i think this is probably an entry point here instead of an exit point >> all right, a lot more "fast money" to come here's what's coming up next two hedge fund heavy hitters reigniting their feud. as short sellers take aim at icahn enterprises. the details, and how napoleon got in the mix, next. plus, the debt ceiling talks continue and markets seem to swing on every headline but can corporate debt be a safe haven amid the volatility?

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welcome back to "fast money. so much for bill ackman and carl icahn burying the hatchet. look at that hug now a distant memory, because billionaires are back at it. shares of eicahn's firm droppin to lows not seen since 2004, after ackman echoed allegations, tweeting iep premium has been sustained by a large dividend yield, which is not supported by operating cash flows the yield is generated by returning capital to outside shareholders, which is in turn funded by the company selling stock to investors

he goes on to say that he is neither long nor short iep stock. icahn responding, saying that, quote, taking advice from ackman concerning short selling is like taking advice from napoleon or the german general staff on how to invade russia, end quote. karen, what do you think >> it's fascinating, i mean -- so many parts of it, the hindenburg thing, it's such an interesting target to go at when you have one very large holder, right? and it is such an interesting structure, so the stock is, you know, obviously gotten killed since the hindenburg thing came out. it rallied when icahn said he was going to respond we don't know what he's going to say. but if he does have sort of margin loans across the street, that's what ackman made reference to, and how, you know, he had many loans, and when they all started to call those loans in, that that led to forced selling, and so that -- that's,

i guess, the perception of what could happen here. now, i'm really interested to hear what carl says. one other thing that bill pointed out, where are the loans? what are they, what are the terms, who has them? we normally see that information, but i haven't been able to find it here so, the short interest, i don't know what it is now, but there's only 57 million shares outstanding of the noncarl stock and 310 million or so of the carl stock i got to imagine that short interest is getting really high, and what happens if this stock, which can be borrowed, no longer becomes borrowable does that cause a squeeze? if i were carl, that's what i would try to do. >> yeah. >> you got -- bill ackman has to just be loving this. i'm shocked that he hasn't made his way onto air just to sort of -- >> talk about this >> talk about this, i mean, the stock traded down to 18 and change today this is a 15-year low in the name, so -- it's a fascinating

story, but carl icahn's been on both sides of this whole -- i mean, i think it was back in, like, the early 2000s that he was actually short and got squeezed and irwin jacobs were talking about, don't lend your stock out. this is playing out 23 or so years later. coming up, twitter spaces take two elon musk talking with ford ceo jim farley in just moments. and short-term rates are spiking as the u.s. credit rating is put on watch, but are there still opportunities in the debt market? the details when "fast money" returns. i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before.

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where are you seeing the money go to sector-wise? >> so, for the last month, i'd say, we're seeing flows, eight weeks, actually, of consistent inflows, and it's been going everywhere but the banks that's where everybody has been trying to avoid. after silicon valley, everybody couldn't really analyze the situation, and it was sort of one bank after another and who would be next. now, we're getting to the point where the banks are starting to come back, and that's where we see a lot of value right now >> and what makes you think there's value there? why are you going against the crowd on this one? what kind of banks >> well, because, eventually, you have to have the banks perform. you have to have a financial system that's functioning for the overall markets to perform so, if the banks are not working, you're going to have problems everywhere else we're looking at the big six banks, you know, the jpmorgan, morgan stanleys of the world that are yielding close to 5.5% for ten years. and you're looking at the super regionals that are yieldi ing somewhere between 8% and 12% concerns about if they make it

through the next several months. if they do, they should make it through the next several years that provides value, and it's a tough trade, but it's starting to get a little bit of traction. >> it's karen, thank you for coming on. i'm sorry, are you seeing the regional banks debt or the larger investment banks? >> so, the safest, but still significantly yielding banks are the big six banks. you can get reasonable terms there, but in the super regional banks, the banks that have market caps of $10, $50 billion dollars, it's going to thaw out things for the rest of the banking space, and we think that's going to be a good thing overall. we're not out of the woods yet, but we're starting to see a lot of signs that there is value and there's certainly some opportunity there. >> so, let's go to the regionals, the sort of scary ones how big is that discount, how much do you think that gap can close? >> so, you've got names like the key banks and fifth-thirds of

the world that are trading 400 basis points over that were closer to 100 to 150, so, that -- they were in line to inside on a credit spread basis to where the big six were trading, and now, they're three times it, so -- will they get all the way back probably not we think there's some real permanent damage here, but nobody wanted to touch this for the longest time the charles schwab deal was a very good sign to get through the market there's been a lot of other big banks, super regional banks, people that have debit cards in their wallet, those are the banks that are now having conversations with investors and saying, look, our credit spreads are at levels we are a little bit nervous with and we can't live there forever how do we get you comfortable with this? and if you look under the hood, they're really not that bad. >> matt, i have a housekeeping question if the u.s. gets its credit rating downgradedowngraded, thah ceiling, i would assume, on whatever highest rating a company can get, so, how does that cascade lower if there are

some companies out there, which would then have a higher rating of the u.s., would they have to be downgraded? >> so, you see that in the e.m. world, where that will happen, but that is not necessarily the case we have instances right now, actually, where there's some corporate credit debt that is lower than the government debt the question of whether they're going to pay these t-bills on time that are coming up due on june 1st, as well as june 6th, and then after that, so, you know, you've got large corporations at their board meetings are not discussing if they're going to be paying their debt, and that's essentially what's happening in the u.s. there's a lot of corporations out there that over the next several months, i have a higher confidence they're going to pay us on time than the u.s. government >> yeah. matt, thank you. matt brill of invesco. interesting where the opportunities are right now. >> well, yeah, and there's a difference of course between a credit rating and a credit spread and so, obviously, you can't

necessarily pierce the sovereign cr ceiling, but you can trade through the government it's interesting, though, in looking at matt's notes, i think his point, though, is that there's only one way for this to go, which is to deteriorate. that we are living in a world where credit metrics have not necessarily been terrosted i think investors have a unique time in history, moving up the credit curve right now, because i think they are major opportunities. coming up, elon musk talking to ford's ceo on twitter spaces. more on the details next "fast money" is back in two. as sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air.

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but with upwork, there's highly skilled talent from all over the globe. right at your fingertips. ♪ this is how we work now ♪ news alert on tesla and ford the company's ceos just unveiling ev charging collaboration. ford ev owners will have access to tesla's charger network phil >> they are about ten minutes into this conversation, between jim farley and elon musk, and you hit the headline, melissa, that there is going to be a partnership when it comes to ev charging, between ford and

tesla. not to get too wonky here, but tesla's had its own protocol when it comes to tesla superchargers, and maybe if we have the details of the announcement, we can call that up, and what they are basically saying here is that ford, instead of using the other protocol, it will be having -- allowing the current ford owners, those ev owners will get access, likely starting sometime early next year, to tesla's superchargers. right now, if you have a ford f-150 lightning, you cannot charge it at a tesla supercharging station. there will be an adapter that will be sent or bought by ford ev owners, that will give them access to 12,000-plus tesla superchargers, about half of their superchargers around the world. most of them here in north america. and then ford's second generation electric vehicles, which start in '25, they will have the tesla nacs charging standard the significance here, melissa,

as you take a look, and we've showed what the ev market share is in north america. if they can calesce around one standard and it's the tesla standard, it would make things easier for everybody in the industry and jim farley said, look, this is -- this charging network that tesla has, it's -- it is impressive and so, a smart thing for ford to do is to say, we're going to fall in with tesla in terms of the nacs standard, and you'll start to see this on all ford evs starting with the next generation that comes out in 2025, mid '25, maybe, and that's when you will see no more needing an adapter in order to charge at a tesla site >> phil, thank you phil lebeau. don't miss jim farley on kw"squw box" tomorrow. dan? >> huge piece of news. i think it really -- it is about ev adoption, right

so, how do these guys, ford and gm, how do they speed that up? and we all give tesla a ton of credit about the way they built out the supercharging network across the nation, really incentivize people to buy an ev with them. i had a ford mace-e, fully electric, i loved it they don't have the charging network built up it was very, very unreliable tesla has such a huge lead here. and i think tesla's actually really smart to open this up a bigger pie for them works in the long-term. meantime, washington gearing up for cabinet-level talks with china that could have a human impact on trade. options traders are betting this is great news for one of china's flagship companies kevin kelly is here to break down the numbers kevin? >> hi, melissa we saw heightened trading volume in alibaba today with about 2.87 times the amount of calls versus puts and the stock has an implied move of about 3%, and what you saw today is, traders came in and traded a lot of the july

21st, 2023 $100 strike calls so, there was about 16,700 of those contracts, and so, they're trading around 85 cents right now. >> kevin, thank you for that for more options action, tune into the full show, that is tomorrow, 5:30 p.m. eastern time. coming up, lacrosse the country, the premier la close team with a new format the cofounder will join us next ayt out. "fast money" is back in two. good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!!

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welcome back to "fast money. that is premier lacrosse league's cofounder ringing the opening bell at the nasdaq this morning. starting next year, all of their eight teams assigned to a home city the league will still stick with its weekly traveling model, but the hope is this new wrinkle will increase fan loyalty. paul is here to explain how this will help. great to have you back here. >> thank you for having me i was late to hitting the button we were so excited, actually -- >> that was all over twitter >> there was a bug, so, maybe -- i don't know if that's a superstitious thing but they

likely won't have us back. but thanks for having me >> so, now, let's say you live in new york city, you have a home team to cheer for in theory. >> potentially, right? every major sports league has a team in new york, and then you look at traditionally chicago and california, l.a. but with a lot of tech -- tech owners that are getting into sports, we've seen enterprise value created all over the country. so, for us, which we'll be announcing the markets at the end of the year, mid-atlantic, northeast, everyone knows is really populated in lacrosse, but growth markets, great lakes, rocky mountain, emerging markets, pacific northwest, so, we have eight teams, we want to cory as much of the geography as we can >> when you say emerging markets, there's some demand, interest, if you put a team there, that will grow? >> exactly so, we look at participation data, really important we look at information from our partners at espn, and viewership

and where that's happening on a location basis we also have ticketmaster as our partner, they help us with venue selection, so, we don't own the venues, we will at some point, but without owning them, we need to have preference that fits sort of our market fit when it comes to audience and that type stuff. >> so, paul, you were on with us last year and you just announced this multi-year partnership with espn, but not just espn, it's obviously disney you have games on abc, right so, what has that meant for you and just the adoption of the game and to mel's point about the markets, it's probably -- lacrosse is getting the sort of exposure it just never has before >> it's critical because broadcast is carrying the biggest punch when it comes to traditional television viewership we have eight abc windows this summer another eight on espn and espn2 and all of our games are simulcasted on espn plus, which is new and starting to see a lot of the major networks with streaming providers begin to bundle and simulcast and renegotiate their fees with the cable service providers, so -- we're learning a lot about not

only our audience that watches on the espn plus app, but are consuming across abc and espn, and producing the game differently for them a lot of the abc folks may have never watched lacrosse for the first time, so, how with retelling that story, sort of our core audience is on plus >> there was a report that disney is considering espn as a standalone streaming service, and i'm wondering -- does that change what you do, does it change the sort of advertising that you expect to get does it change how you package the games? >> well, disney's doing, i think, phenomenal work right now, and they spent an hour of their upfront last week featuring espn so, if you just look -- maybe pull back, 94 of the last 100 broadcasts, or the top 100 broadcasts last year were live sports all right? so, disney sees that, paramount sees that, warner sees that. what they are seeing is growth on the streaming side with plus. we're in both areas. so, what we're focused on doing right now is continuing to drive as much interest, both on the streaming services as we can,

garner new attention from cable and broadcast. we're confident that espn's going to continue to take a bigger position with disney in way of how they're integrating into their sales teams and into their sponsorship and advertising efforts, so, we feel really good about that, and their shoulder programming that they can use to promote their properties >> paul, good luck with the season starts june -- >> third and fourth on abc both days. >> the only time we'll permit another network to be mentioned. >> sorry >> nice job. >> but i love being here thank you for having me. >> you got it. up next, final trades. what do you see on the horizon? uncertainty? or opportunity.

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since we work with emower, we don't have to worry about planning for a third kid. you can still play golf... sometimes. take control of your financial future to empower what's next. time for the final trade, let's go around the horn tim? >> not because of this tesla announcement, though it's good stuff. ford has no place to go but up at 11 bucks, good support for the stock. >> karen >> yeah, ulta. if you are looking for a time to buy it, shake it out a little bit. three-day rule at least here >> dan >> quiet move in yields, you notice that? yields tlt. >> guy >> paul is one of the top five lacrosse players -- what were you going to say >> he's a stud >> he is a stud.

no, he's a stud. he's up there with tom rogers. he will go down as a better business person than lacrosse player alibaba below 80, mel. >> see you tomorrow for more "fast money" at 5:00 "mad money" with jim cramer starts right now. right now. my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you a little money my job's not just to entertain you but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. nvidia own it don't trade it that's bee