Brad Gerstner on the market, tech and the flood of mega IPOs
Speakers
Brad Gerstner
— CEO, Altimeter Capital
Summary
Brad Gerstner discusses Snowflake's strong earnings driven by AI token consumption, the data infrastructure bull case, and the upcoming wave of mega IPOs. He advises investors to maintain AI exposure while keeping dry powder for potential market pullbacks.
- Snowflake reported blockbuster earnings with 33% growth, beating consensus.
- Gerstner expects Snowflake's growth to continue due to AI acceleration.
- He holds Snowflake personally but moved it out of his public fund to rotate into Micron and Arm.
- Gerstner warns of a potential 10-20% consolidation in tech/AI stocks.
- He advises having cash on the sidelines to buy on dips.
- Upcoming IPOs include SpaceX, Anthropic, and OpenAI.
- Gerstner believes there is enough capital to absorb the IPO supply.
- He highlights Elon Musk's data center buildout as a game changer for SpaceX's valuation.
Trade Ideas
AI token consumption accelerating Snowflake growth.
Snowflake's data infrastructure business is accelerating due to AI token consumption and new products like Snowflake Intelligence and Cortex Code hitting critical mass, leading to 33% growth and raised guidance; Gerstner expects this growth to continue and holds a large personal position.
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This CNBC video, published May 28, 2026, features Brad Gerstner discussing SNOW. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Brad Gerstner · Tickers: SNOW