Uploaded May 2026 | Updated September 2026, 2 weeks ago
In this week's episode of WSJ’s Take On the Week, co-hosts Miriam Gottfried and Telis Demos discuss what’s beyond the surge in semiconductor companies like Broadcom and Micron. They examine economist Ed Yardeni’s "Buzz Lightyear theory"—which says that demand for compute power will increase to infinity and beyond—that has led to S&P 500 earnings growth expectations surpassing the 2000 tech bubble peak. Plus, they analyze the impact of the fatal hantavirus outbreak on cruise-line stocks.
After the break, billionaire philanthropist and former energy trader John Arnold joins Miriam and Telis at a live taping of the show at the WSJ’s Future of Everything event. Arnold offers an analysis of how the U.S.-Iran conflict is shaping oil markets and discusses the factors preventing crude oil from reaching initial forecasts of $150 to $200 a barrel. He details how the Iran war underscores America's energy-security strengths, which should prompt hyperscalers to prioritize the U.S. for data-center expansion over Middle Eastern alternatives. Finally, he talks about a new focus of Arnold Ventures—the call for guardrails on prediction markets and sports betting—arguing that gambling regulation should remain under state jurisdiction rather than the Commodity Futures Trading Commission.
Chapters:
0:33 Semiconductors and the AI Trade
3:56 Chip Companies vs. AI Hyperscalers
5:11 Bull Market and Ed Yardeni’s Buzz Lightyear Theory
7:23 Hantavirus and Cruise Stocks
9:06 Introducing John Arnold
11:27 Oil Markets and the Strait Crisis
15:54 U.S. Energy Advantage and Data Centers
17:34 Fossil Fuels and the Energy Future
20:46 Data Center NIMBYism and AI Politics
25:22 Prediction Markets and Gambling
This is WSJ’s Take On the Week where co-hosts Telis Demos, Heard on the Street’s banking and money columnist, and Miriam Gottfried, WSJ’s investing and wealth management reporter, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead.
Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.
#WSJ #Semiconductors #Oil
In this week's episode of WSJ’s Take On the Week, co-hosts Miriam Gottfried and Telis Demos discuss what’s beyond the surge in semiconductor companies like Broadcom and Micron. They examine economist Ed Yardeni’s "Buzz Lightyear theory"—which says that demand for compute power will increase to infinity and beyond—that has led to S&P 500 earnings growth expectations surpassing the 2000 tech bubble peak. Plus, they analyze the impact of the fatal hantavirus outbreak on cruise-line stocks.
After the break, billionaire philanthropist and former energy trader John Arnold joins Miriam and Telis at a live taping of the show at the WSJ’s Future of Everything event. Arnold offers an analysis of how the U.S.-Iran conflict is shaping oil markets and discusses the factors preventing crude oil from reaching initial forecasts of $150 to $200 a barrel. He details how the Iran war underscores America's energy-security strengths, which should prompt hyperscalers to prioritize the U.S. for data-center expansion over Middle Eastern alternatives. Finally, he talks about a new focus of Arnold Ventures—the call for guardrails on prediction markets and sports betting—arguing that gambling regulation should remain under state jurisdiction rather than the Commodity Futures Trading Commission.
Chapters:
0:33 Semiconductors and the AI Trade
3:56 Chip Companies vs. AI Hyperscalers
5:11 Bull Market and Ed Yardeni’s Buzz Lightyear Theory
7:23 Hantavirus and Cruise Stocks
9:06 Introducing John Arnold
11:27 Oil Markets and the Strait Crisis
15:54 U.S. Energy Advantage and Data Centers
17:34 Fossil Fuels and the Energy Future
20:46 Data Center NIMBYism and AI Politics
25:22 Prediction Markets and Gambling
This is WSJ’s Take On the Week where co-hosts Telis Demos, Heard on the Street’s banking and money columnist, and Miriam Gottfried, WSJ’s investing and wealth management reporter, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead.
Have an idea for a future guest or episode? How can we better help you take on the week? We’d love to hear from you. Email the show at takeontheweek@wsj.com.
#WSJ #Semiconductors #Oil
