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NEIL CAVUTO: Scott Martin, you’re also too young to remember any of this, but let me tell you kids something. Scott, what do you think of this? I mean, obviously AI is front and center, with Nvidia now having a stock that’s been offered 10 to 1 from what shareholders had last week, and it moved up all due to this whole AI craze. Is it getting too crazy?
SCOTT MARTIN: It’s been too crazy. It’s going to get crazier. Neil, I have to think of my favorite old robots too. How about Vicky from Small Wonder? Someone I fell in love with back in the eighties, and I’ll tell you, I still do. But here’s the thing, Susan’s right. There are a lot of things that the phone can do for us going forward that it is not doing right now, and that’s really the question I have for Apple. I mean, my iPhone and I are really going steady. We have an amazing relationship, but other than telling the phone what to do or what it can do for me, I would love the phone to do something for me without me having to tell it. And that’s truthfully the essence of what we’re seeing with some of the other ChatGPT things and some of the other things out there in the AI spaces. This is scary, ladies and gentlemen, but it’s taking over our lives and making it easier and better for us to exist because right now I’m doing too much work on my iPhone. I just have to admit it.
NEIL CAVUTO: What’s interesting, Susan, is that it’s really targeting your generation and even younger, this notion that AI is going to be built into everything you own and have and do. There are a lot of people who are worried about that and where it’s going, while others are just saying, “Well, hop on.” I mean, I got a sense with this Apple announcement today, they’re hopping on a little bit late, but they have everything in place to take full advantage of it. What do you think?
SUSAN LI: That’s right, and they certainly have the cash pile as we talked about earlier on Fox Business, $170 billion in cold hard cash on their balance sheets. And right now, in terms of research and development, they haven’t been specific with me in terms of the numbers that they actually put into developing AI and all the tech they have in the iPhones and all the iOS-powered devices. But I can tell you right now that Apple is spending tens of billions of dollars less than their competitors like Microsoft and Google. However, with that cash pile, I think they can play catch-up pretty quickly. But one quote I heard today that I thought was so smart when it comes to this AI revolution is that it’s not making money right now. Sure, it’s powering stocks higher, but some people say it’s a feature, not necessarily a product.
NEIL CAVUTO: Interesting. Scott, the other issue is how people draw the distinction between this AI boom and the internet boom. I always part with that cynical view by saying, well, in this case, the companies behind it are already making money hand over fist. Nvidia’s orders are coming from a lot of companies pouring tens of billions of dollars into these chips and making a good deal of money off of it. So it’s very different in that respect. What do you think?
SCOTT MARTIN: Bingo. Global Crossing, Webvan, Pets.com. Gee, last time I checked, those guys were bankrupt and not making money. Like you said, Neil, I’m working less. These companies, the Microsofts, the Amazons, the Googles, they are making tons of money hand over fist because they’ve got the free cash flow to throw into this idea, even if it takes a few years. I just want them to use that information though, Neil. I mean, think about how much we know or how much we give our phone in terms of how much they know about us. Can you imagine them taking all that information and using it to improve our lives? That’s data they need to figure out how to use positively, not negatively, as we see so many times in today’s environment. Guys, I…
NEIL CAVUTO: Want to thank you both. Young as you are, you bring great wisdom to the table.
