Apollo's Intel Offer, Alex Karp and Wall Street | Bloomberg Technology
>> FROM THE HEART>> OF WHERE INNOVATION, MONEY, AND POWER COLLIDE, THIS IS BLOOMBERG TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. CAROLINE: COMINGCAROLINE: UP, APOLLO OFFERS A MULTIBILLION-DOLLAR INVESTMENT IN INTEL AFTER QUALCOMM'S TAKEOVER APPROACH. ED: MORE POTENTIAL TROUBLE FOR CHINA EEEV'S. CAROLINE: FIRST, WE GO STRAIGHT TO THE KEY SHIP STORY. ED:
APOLLO OFFERED A MULTIBILLION-DOLLAR INVESTMENT IN INTEL WITH THE ASSET MANAGER INDICATING IT WILL BE WILLING TO MAKE AN EQUITY-LIKE INVESTMENT OF AS MUCH AS $5 BILLION ACCORDING TO ONE OF THE SOURCES BLOOMBERG SPOKE TO FOLLOWING NEWS FRIDAY THAT INTEL HAD BEEN APPROACHED BY QUALCOMM ABOUT A FRIENDLY TAKEOVER. THIS FOLLOWS UNTIL ANNOUNCING HIS STRATEGIC RETHINK -- INTEL ANNOUNCING ITS STRATEGIC RETHINK. LET'S START WITH APOLLO CONSIDERING EQUITY LIKE INVESTMENT. WHY WOULD INTEL WANT CAPITAL FROM AN ASSET MANAGEMENT LIKE APOLLO? >> APOLLO HAS ALREADY INVESTED PARTIALLY IN INTEL AND TOOK PART OF A STAKE IN A FACTORY IN IRELAND. INTEL HAS BEEN DOING A SMART CAPITAL STRATEGY, BASICALLY BRINGING IN MONEY TO BRIDGE LOANS FOR INVESTMENT IT IS MAKING TO BUILD ITS FACTORY NETWORK.
THIS MIGHT BE AN EXTENSION OF THAT TO SPONSOR THIS GENERAL TURNAROUND OF THE COMPANY. CAROLINE: A TURNAROUND THAT HAS MADE IT A POTENTIAL TARGET FOR SOMEONE LIKE QUALCOMM. AND IT WOULD BE A MASSIVE TECH DEAL. IAN: IT WOULD. THERE ARE SOME ANY CAVEATS THAT NEED TO BE THROWN INTO THE MIX. WHAT DOES QUALCOMM WANT? DOES QUALCOMM WANT ALL OF INTEL? IS IT AN ACTUAL FIRM OFFER? ALL THESE THINGS ARE UNKNOWN AT THIS POINT AND YOU HAVE SEEN ALREADY REACTION TO THIS POTENTIAL ALLIANCE, SAYING REGULATORS NEVER ALLOW THIS TO HAPPEN. IT DOES NOT MAKE SENSE IN TERMS OF WHAT QUALCOMM DOES, BUT THERE IS AT LEAST A CONSIDERATION OF SOMETHING GOING ON HERE. ED:
WE CALLED IT A FRIENDLY TAKEOVER OFFER APPEARANCE THERE IS A TECHNOLOGY STORY WHICH QUALCOMM HAS TRIED TO DIVERSIFY AWAY FROM HANDSETS. THEN YOU LOOK AT WHAT THEY WOULD GAIN ON THE PRODUCT SIDE GOING AFTER INTEL AND EXPLAIN THAT TECHNOLOGY FIELD TO US. IAN: INTEL'S TECHNOLOGY HAS BEEN DOMINANT IN PC'S SINCE THE PC CAME INTO EXISTENCE. QUALCOMM HAS TRIED TO GET INTO THAT WITH ITS SMARTPHONE TECHNOLOGY.
IT HAS REALLY HAPPENED YET, BUT IT IS SHOWING MORE PROMISE AND ASSIGNS OF TAKING A DENT IN THAT. IF IT WERE TO TAKE ON INTEL'S X86 BUSINESS, THERE WOULD BE MIXED SIGNS. WHICH TECHNOLOGY IS GOING TO GO FORWARD? LOTS OF QUESTIONS. CERTAINLY IT WOULD GET HOLD OF THE DOMINANT BRAND IN PC'S. CAROLINE: IAN KING REPORTING THROUGHOUT. THE COMPASS INVOLVED HAVE NOT
COMMENTED TO US ABOUT THE STORY. LET'S GO TO AN INVESTOR MIGHT JOANNE FEENEY. YOU'LL SHARES IN QUALCOMM. IF IT COULD GO THROUGH REGULATORS, WOULD IT BE A GOOD DEAL FROM YOUR PERSPECTIVE? >> IF ANYTHING, THE INTEREST WOULD BE ON THE DESIGN SIDE, ON-CHIP DESIGNS FOR PC'S. THAT IS A HUGE MARKET. INTEL AND AMD ARE PLAYERS THERE. IT IS LIKELY TO REMAIN THE DOMINANT FORM OF TECHNOLOGY, SO I COULD SEE QUALCOMM BE INTERESTED BUT I WOULD THINK REGULATORS WOULD HAVE A HARD TIME BECAUSE IT WOULD SUGGEST QUALCOMM WOULD BE READY TO THROW AWAY ITS APPROACH TO PC CHIPS AND THAT WOULD REDUCE COMPETITION. FOR INTEL, IF EV -- IF QUALCOMM WERE TO BUY THE DESIGN SIDE, IT WOULD GIVE INTEL THE TIME HE NEEDS TO FIX MANUFACTURING AND POTENTIALLY FOR INTEL TO GET INTO THE FOUNDRY BUSINESS, WHICH IT WOULD LIKE TO DO.
CAROLINE: THAT IS WHY THE RELATIONSHIP ALREADY LIES WITH APOLLO THAT THEY HAVE WITH A DEAL IN IRELAND. WHAT DO YOU THINK ABOUT A CAPITAL INFUSION AND WHAT FORM YOU WOULD LIKE THAT TO TAKE? >> $5 BILLION WOULD HELP. IT IS GOING TO TAKE PATIENTS OF INVESTORS. $5 BILLION WHEN YOU LOOK AT THE COST IS A DROP IN THE BUCKET, SO INTEL NEEDS A LOT MORE CAPITAL TO GIVE IT THE TIME HE NEEDS TO FIX THE MANUFACTURING RECIPE, WHICH HAS SUFFERED OVER THE LAST FIVE YEARS, AND THEN TO BE ABLE TO BUILD THE KIND OF LIBRARIES IT WOULD NEED TO BECOME A FOUNDRY PLAYER. WE KNOW INTEL HAS TRIED IN THE
PAST AND FAILED UNDER PREVIOUS LEADERSHIP. $5 BILLION WILL HELP. IT WILL TAKE PATIENT INVESTORS AND POTENTIALLY MORE CAPITAL TO GET THAT JOB DONE. ED:
APOLLO HAS AN EXISTING RELATIONSHIP WITH INTEL. WHEN WE SPOKE TO THEM EARLIER IN THE SUMMER, THEY DID HAND THERE COULD BE EXPANSION OF THAT. LISTEN TO THIS CLIP FROM JUNE.
>> THESE TYPE OF LARGE-CAP COMPANIES ARE NOT TALKING ABOUT 500 MILLION DOLLARS. THEY ARE TALKING $10 BILLION PLUS, SO THE ABILITY TO COME UP WITH CREATIVE SOLUTIONS IS CRITICAL BUT I THINK YOU WILL SEE MORE OF THIS FROM APOLLO AND IN GENERAL, JUST THE NEED FOR THIS TYPE OF CAPITAL IS INSATIABLE. ED: BASED ON THAT, NOT SUCH A SURPRISE THIS HAS COME UP. ON THE OTHER HAND, THIS FIRM STARTED AS A DISTRESSED INVESTOR IN THE 90'S. WHEN YOU SEE A NAME LIKE APOLLO CIRCLING INTEL, WHAT DOES THAT MAKE YOU THINK ABOUT? >> YOU THINK ABOUT THE DIFFICULT SITUATION INTEL IS IN AND SOMETHING LIKE APOLLO COMING INTO HELP REMINDS ME OF HOW AMD WAS RESCUED BY INVESTMENTS AND THAT ALLOWED AMD TO SPIN OFF MANUFACTURING AND FOCUS ATTENTION ON THE DESIGN SIDE, WHICH LED TO HIS CURRENT SUCCESS. WE COULD SEE MORE PRIVATE CAPITAL COMING IN AND THAT WOULD HELP.
THERE IS HUGE POTENTIAL THERE, BUT THEY HAVE WORK TO DO TO FIX MANUFACTURING. IT IS A POSITIVE SIGN FOR THE RECOVERY OF INTEL THAT WE ARE SEEING THIS KIND OF INVESTMENT BEING POTENTIALLY MADE BY APOLLO AND IT WOULD NOT SURPRISE ME IF OTHERS CAME IN AS WELL. ED: ANOTHER SEMI CONDUCTOR CEO SAID THAT INTEL IS TOO BIG TO FAIL IN CONTEXT OF ITS FOOTPRINT IN UNITED STATES. IS THAT THE SORT OF TERRITORY
WE ARE TALKING ABOUT NOW? JOANNE: THAT IS AN INTERESTING TAKE AND I THINK A FAIR WAY TO LOOK AT IT. CLEARLY THE U.S. GOVERNMENT IS INTERESTED IN MAKING SURE THAT WE HAVE MANUFACTURING CAPABILITIES FOR THE MOST ADVANCED CHIPS IN THIS COUNTRY FOR OBVIOUS REASONS. SO I THINK THAT IS A FAIR VIEW OF THINGS AND THAT IS WHY I THINK INTEL HAS A BETTER CHANCE OF RECOVERING THAN IF WE WERE NOT IN THIS KIND OF WORLD WHERE GEOPOLITICAL RISKS ARE BECOMING PROMINENT. CAROLINE: THAT IS WHAT IT IS THE AMERICAN NAMES.
WE THINK ABOUT WHO ELSE COULD HAVE SKIN IN THE GAME. THERE WAS A REPORT THAT BROADCOM WILL NOT FOLLOW QUALCOMM. WHAT OF OTHER COMPANIES THAT YOU THINK COULD LOOK AT PARTS OF INTEL? JOANNE: WHEN YOU LOOK AT A COMPANY LIKE BROADCOM, THEY HAVE BEEN CAREFUL ABOUT THE ACQUISITIONS THEY MAKE. COMPANIES THAT ALREADY HAVE LEADERSHIP POSITIONS THAT NEED FINE WHERE THEY CAN EXTRACT COSTS AND MAKE THEM MORE PROFITABLE. I CAN SEE WHY BROADCOM WOULD NOT BE INTERESTED IN THIS SITUATION.
OTHER COMPANIES, YOU HAVE TO THINK ABOUT REGULATORY CHALLENGES. I THINK QUALCOMM IS THE MOST LIKELY, BUT I THINK FOR THE DESIGN SIDE THE MANUFACTURING SIDE PROBABLY BE SPUN OFF AND THE CASH INFUSION COULD HELP LEAD TO MORE SUCCESS DOWN THE LINE FOR INTEL. ED: NEITHER INTEL NOR QUALCOMM HAS COMMENTED. JOANNE FEENEY, SOMEONE WHO HAS COVERED THIS INDUSTRY FOR A LONG TIME AS WELL. SAMSUNG HAS DISCUSSED BUILDING MAJOR NEW FACTORIES IN THE UAE TO HELP SATISFY SOARING DEMAND FOR AI COMPUTING ACCORDING TO A REPORT IN THE WALL STREET JOURNAL. THE JOURNAL SAYS THE
DISCUSSIONS ARE IN EARLY PHASES AND THE PROJECT MIGHT NOT PAN OUT GIVEN HURDLES THAT THEY FACE. CAROLINE: COMING UP, MORE CURVES COULD UPBEAT -- COULD BE ON THE WAY FOR CHINA. WHAT THIS MEANS FOR THE EV SECTOR AND BEYOND. MEANWHILE, WE CHECK IN ON THE MARKETS MORE BROADLY. WE ARE HAVING ANOTHER POSITIVE
DAY AFTER TWO POSITIVE WEEKS BUT WE KNOW SOME OF THE CHIP NAMES ON THE MOVE TODAY. THIS IS BLOOMBERG TECHNOLOGY. CAROLINE:CAROLINE: NOW MORE POTENTIAL TROUBLE FOR CHINA EV'S. OFFICIALS ARE SET TO UNVEIL A PROPOSAL TO BAN THE USE AND IMPORTING OF CHINESE AND RUSSIAN TECHNOLOGY IN AUTOMATED DRIVING. THAT IS ACCORDING TO SOURCES. WE WELCOME DANNY LEE, WHO HAS BEEN REPORTING THIS OUT. IT FEELS AS IF THIS IS GETTING MORE EXPENSIVE, NOT JUST THE HARDWARE BUT THE SOFTWARE AS WELL.
>> ABSOLUTELY. AFTER WE SAW THIS QUADRUPLING ON TARIFFS ON CHINESE EV IS MY NOW IT IS THE TARGETING OF CHINA AND RUSSIAN-MADE SOFTWARE AND HARDWARE THAT IS TIED TO THESE KIND OF CONNECTED AUTONOMOUS, DRIVERLESS SYSTEMS. WE WILL HEAR MORE FROM YOUR SUFFICIENT, BUT ALL THIS IS TO DEFEND AND STRENGTHEN THE U.S. AUTO INDUSTRY, WHICH HAS STRUGGLED. IT IS FASCINATING WHEN YOU LOOK AT CHINA'S BIGGEST EV MAKER. IT HAS A MARKET CAP THAT IS THE
SIZE OF FORD AND GENERAL MOTORS, SO YOU SEE HOW MUCH IN TERMS OF LEAPS AND BOUNDS CHINESE EV MAKERS HAVE COME ON AND HOW THEY HAVE HAD TO TRY TO STEP IN. WHEN WE SEE THE U.S. TAKING ACTION, THERE IS CONCERN WHEN IT COMES TO DATA MANAGEMENT AND ALSO HACKING BUT THIS DOES SET THE STAGE FOR MORE TENSIONS IN THIS STRAINED U.S.-CHINA GEOPOLITICAL RELATIONSHIP. ED: TARIFFS ON A PHYSICAL PRODUCT LIKE AN ELECTRIC VEHICLE ARE EASIER TO UNDERSTAND. WHAT IS HARDER TO UNDERSTAND IS WHAT IS A SOFTWARE CURVE? WHAT WITH THE MECHANISM LOOK LIKE? >> I THINK IT IS MORE THE SOFTWARE CONTAINED INSIDE THESE PRODUCTS AND MAKING THESE SYSTEMS PARTICULARLY AROUND CARS AND ELECTRIC VEHICLES COME UP WHICH HURTS CHINESE SOFTWARE AND HARDWARE COOK FOR EXAMPLE LIDAR, A KEY PART OF THE AUTONOMOUS DRIVER ASSISTANCE. SO WE ARE SEEING THAT THERE IS THIS REACTION THAT WE WILL WAIT AND SEE FOR WHAT CHINA SAYS. ONCE THE PLANS ARE LAID OUT BY
WASHINGTON, IT IS INTERESTING THAT THE FIRST TIME WE SAW THESE TARIFFS BEING HYPED BY THE U.S. AND EVEN THE U.S. SECRETARY TREASURY WAS HOPEFUL THAT CHINA WILL NOT RETALIATE BUT THAT EXPECTATION THAT CHINA WOULD AND SOME ELEMENT WE HAVE SPOKEN TO TODAY, THIS RAISES THE LIKELIHOOD THIS COULD BE THE CASE. IT IS ALSO FASCINATING. TESLA NEEDS CHINA TO APPROVE HIS SYSTEM TO BE ROLLED OUT BY NEXT YEAR. IF CHINESE SOFTWARE AND HARDWARE IS LOCKED FROM THE U.S. MARKET, U.S. TECH COULD BENEFIT IN SOME WAY.
>> A NEW TREND IS GAINING STEAM AMONG THIEVES HUNTING FOR COPPER , VANDALIZING EV CHARGERS. CHARGING COMPANIES ARE CATCHING MORE AND MORE PEOPLE ON CAMERA CUTTING CORDS ACROSS ENTIRE STATIONS, TYPICALLY TO STRIP OUT COPPER AND SELL IT FOR A PROFIT. THROUGH JUNE, NEARLY ONE IN FIVE U.S. PUBLIC CHARGING ADMITTED FAILURE.
10% OF THOSE WERE DUE TO A DAMAGED OR MISSING CABLE. CAROLINE: EXTRAORDINARY. WE GO BACK TO THE POLITICAL DISCUSSION NOW. VICE PRESIDENT KAMALA HARRIS SAYS SHE WILL HELP GROW INVESTMENT INTO ARTIFICIAL INTELLIGENCE AND DIGITAL ASSETS. HER FIRST COMMENT ON THE CRYPTO SPACE SINCE RUNNING FOR PRESIDENT. LET'S DISCUSS ALL OF THIS WITH MY SHEPHERD. -- MIKE SHEPPARD.
FINALLY SHE STARTS TO TALK OF CRYPTO. >> THIS IS IN SOME WAYS AND ALL OF BRANCH -- OLIVE BRANCH TO INDUSTRY THAT HAS BEEN SKEPTICAL AND CRITICAL OF THE BIDEN ADMINISTRATION, WHICH THEY SEE AS TAKING A MORE BURDENSOME APPROACH WHEN IT COMES TO REGULATION AND OVERSIGHT. THIS IS A SENTIMENTAL DONALD TRUMP HAS SEIZED ON IN TRYING TO COURT DEEP-POCKETED CRYPTO INVESTORS, A NUMBER OF WHOM HAIL FROM SILICON VALLEY. ED: IT WAS IN THE CONTEXT OF A FUNDRAISER, KIND OF A CALENDAR DAY ON THE CAMPAIGN TRAIL. DO WE KNOW WHO SHE WAS
APPEALING TO WITH THE AI-CRYPTO MESSAGE? MIKE: THERE IS THE INVESTOR MESSAGE, BUT SHE IS TRYING TO SIGNAL THIS MORE BROADLY. THERE ARE REPORTERS ATTENDING ALL THESE FUNDRAISER EVENTS, SO THE REMARKS ARE CALCULATED FOR MORE THAN JUST WHO IS IN THE ROOM. SHE IS TRYING TO SIGNAL, GOING BACK TO HER YOUTH IN THE BAY AREA, SHE IS FROM CALIFORNIA. SHE UNDERSTANDS AND EMBRACES THE TECH CULTURE. SHE IS TRYING TO SIGNAL THAT
SHE IS MORE OPEN TO INNOVATION AND ALL THAT WE NEED TO GO INTO IT. SHE IS NOT WALKING AWAY FROM ANY CALL FOR SAFEGUARDS ON INDUSTRIES LIKE ARTIFICIAL INTELLIGENCE OR CRYPTOCURRENCY AND DIGITAL ASSETS, BUT SHE IS TRYING TO SIGNAL THAT WE WANT TO WORK WITH YOU. WE WOULD LIKE TO DO BUSINESS WITH YOU AND NOT STIFLE INNOVATION. ED: BLOOMBERG'S MIKE SHEPARD. CLOUD FAIR'S CEO JOINS US TO TALK ABOUT HOW THEIR CONTENT IS USED BY AI COMPANIES. THAT CONVERSATION IS NEXT.
THIS IS BLOOMBERG TECHNOLOGY. CAROLINE: CLOUDFLARE WEBSITES ANALYZE HOW THEIR CONTENT IS CONTROLLED BY AI MINING. LET'S DISCUSS ALL OF THIS WITH CLOUDFLARE'S CEO. SET THE SCENE FOR US FOR A MOMENT. THE BLOOMBERG WEBSITE, ANY WEBSITE, HOW OFTEN WE FIND ITS CONTENT IS BEING TOUCHED ON, USED BY LARGE LANGUAGE MODELS ON A DAILY BASIS? MATTHEW: FOR THE AVERAGE WEBSITE, ABOUT HALF THE TRAFFIC IT RECEIVES IS FROM SOME SORT OF AUTOMATED BOUGHT AND THEY ARE GROWING LIKE CRAZY. SO IF YOU ARE PUTTING CONTENT ONLINE IS BEING INCLUDED IN THESE LLM'S AND YOU DID NOT HAVE ANY CONTROL OVER THAT.
CAROLINE: HOW DO YOU HAVE CONTROL OVER IT? WHAT ARE YOU DOING TO MAKE SURE IT IS EITHER STOPPED OR MONITORED? ED: CLOUDFLARE HAS BEEN THE BEST IN THE WORLD AT IDENTIFYING WHAT IS A HUMAN VISITOR TO A SITE AND WHAT IS IN AUTOMATED VISITOR TO A SITE. WE HAVE TAKEN THAT TECHNOLOGY AND CLASSIFIED ALL THE BOTS BEING USED BY AI COMPANIES AND THE FIRST STEP IS GIVING ANYONE WITH A WEBSITE AND CONTENT VISIBILITY INTO HOW THEIR CONTENT IS ACCESSED BY THESE BOTS. SECOND, WE LET YOU PICK AND CHOOSE EITHER I DO NOT WANT ANY OF THESE BOTS TO ACCESS MY SITE OR MAYBE I DO NOT WANT CERTAIN OF THESE BOTS TO ACCESS THE SITE. THE LAST STEP, WHICH WE ANNOUNCED TODAY BUT WILL ROLL OUT OVER THE MONTHS AHEAD IS A CONTENT MARKETPLACE WHERE WE RETURN THE QUID PRO QUO WHERE CONTENT CREATORS GET PAID FOR CONTENT THEY ARE CREATING THAT IS HELPING TRAIN LARGE LANGUAGE MODELS. ED: IN THE FIRST INSTANCE, WHO SIGNED UP FOR THIS? LIST THE EARLY COMPANY -- CUSTOMERS. MATTHEW: THIS IS AVAILABLE FOR FREE FOR EVERY CLOUDFLARE CUSTOMER AND CLOUDFLARE SITS IN FRONT OF 20% OF THE WEB, SO A HUGE PERCENTAGE OF THE WEB IS USING THIS.
WE HAVE HEARD FROM OUR LARGEST CUSTOMERS THAT ARE CREATING LARGE MUCH OF CONTENT THAT THEY CANNOT KEEP UP WITH THESE AI BOTS, SO CLOUDFLARE IS IN A POSITION TO SAY, IF YOU ARE GETTING VALUE FROM THIS CONTENT AS A COMPANY YOU SHOULD BE COMPENSATING CREATORS AND LARGE COMPANIES LIKE REDDIT ARE ABLE TO GET DEALS DONE BUT WE WANT TO BRING THAT TO ANYONE CREATING CONTENT ANYWHERE ON THE WEB. ED: I WANT TO GO TO THE NEWS OF LAST WEEK THAT X USED WERE TECHNOLOGY TO BRIEFLY MAKE THE SERVICE ACCESSIBLE AGAIN IN THAT COUNTRY. BRAZILIAN AUTHORITIES HAVE SAID THAT CLOUD FLARE HAVE WORKED WITH THE GOVERNMENT TO UNDERSTAND HOW THEY DID IT. WHY DID YOU WORK WITH THE BRAZILIAN AUTHORITIES AND WHAT DID THAT LOOK LIKE? MATTHEW: I DO NOT KNOW WHAT THE BRAZILIAN AUTHORITIES ARE TALKING ABOUT BECAUSE WE DID NOT SPECIFICALLY WORK WITH THEM TO BLOCK X OR MAKE IT AVAILABLE IN BRAZIL.
EVERYTHING ON THE WEB AT THE END OF THE DAY HAS A NUMBER ASSOCIATED WITH IT, THE IP ADDRESS, LIKE A TELEPHONE NUMBER. YOU CAN IMAGINE IF YOU SWITCH FROM ONE CELL PHONE PROVIDER TO ANOTHER YOUR NUMBER WOULD SWITCH. THE SAME THING HAPPENED WITH X. WE WON A DEAL WITH THEM WHERE THEY STOPPED USING A COMPETITOR OF OURS AND IN THE PROCESS THE IP ADDRESS SWITCHED. RESULT WAS BLOCKING THE OLD IP ADDRESS.
BRAZIL WAS ABLE TO BLOCK THE NEW IP ADDRESS, WHICH WAS ACCESSIBLE. THERE WAS NOTHING CLOUDFLARE DID TO FACILITATE THAT OR THAT X DID TO MAKE THAT HARDER ON BRAZIL. IT WAS A COINCIDENCE OF US WINNING AN ENTERPRISE CUSTOMER. CAROLINE: THE TIMING IS A COINCIDENCE. HOW MUCH OF THIS WAS A ONE-OFF
TRANSITION? MATTHEW: IT WAS ACROSS THE COUNTRY. IN THIS CASE, I THINK THEY WERE SURPRISED. WE WERE SURPRISED BY THE ATTENTION AND THERE WAS NOTHING THAT X ASKED US TO DO IN TERMS OF ELIMINATING ABILITY FOR BRAZIL TO BLOCK CONTENT AND THERE WAS NOTHING WE DID TO FURTHER FACILITATE THE ABILITY FOR BRAZIL TO BLOCK WHAT THEY WERE DOING. TODAY, MY UNDERSTANDING IS X IS ONCE AGAIN BLOCKED IN BRAZIL. ED: COMING UP, WE WILL TAKE A DEEP DIVE INTO PALANTIR'S CEO'S ROCKY RELATIONSHIP WITH WALL STREET. IT IS A FASCINATING PROFILE AND
THERE IS VIDEO YOU DO NOT WANT TO MISS. JOIN US IN A FEW MOMENTS. THIS IS BLOOMBERG TECHNOLOGY. ♪ CAROLINE: WELCOME BACK TO BLOOMBERG TECHNOLOGY. LET'S GET A QUICK CHECK ON THESE MARKETS BECAUSE WE ARE SEEING A RISK ON TURN. WE ARE UP .3% ON THE NASDAQ 100. THIS IS THE FED RATE CUTTING AND RAPHAEL BOSTIC SPEAKING UP ABOUT THE NEED TO NORMALIZE RATES AND THEN WE HAVE MANUFACTURING DATA THAT SHOWS WE STILL HAVE A ROBUST, IF SLOWING, ECONOMY IN UNITED STATES.
WHEN WE ARE LOOKING AT THE BENCHMARK, I AM LOOKING AT A FLURRY OF NEWS SURROUNDING THIS KEY NAME. WE DUG INTO IT AT THE TOP OF THE SHOW. INTEL IS UP 1.5%. IT MOVE FRIDAY AFTER REPORTS THAT IT COULD BE TIED BY A COMPETITOR SUCH AS QUALCOMM. REGULATORY DISCUSSIONS ABOUND THIS MORNING. BROADCOM IS NOT BUYING IT, BUT THERE WAS NEWS THAT APOLLO GLOBAL IS IN -- EYEING AN INVESTMENT. LET'S TALK ABOUT THE REBALANCING THAT HAPPENED OVER THE WEEKEND AND IS IN PLAY TODAY FOR THE S&P 500. ED: PALANTIR IS GETTING A SPOT ON
THE S&P 500, A MILESTONE THE DATA ANALYSIS GIANT HAS BEEN AFTER. PALANTIR COFOUNDER AND CEO ALEX KARP HAS HAD A LOVE-HATE RELATIONSHIP WITH WALL STREET. LIZETTE CHAPMAN TOOK A DEEP DIVE INTO THE STORY AND JOINS US NOW. I HAVE SPENT A LOT OF TIME WITH DR. KARP, BUT WHAT WERE YOU
TRYING TO DO WITH THE PROFILE IN THE MAGAZINE? LIZETTE: THIS HAS BEEN A LONGTIME GOAL OF KA RP'S AND THE COMPANY'S. AND RETAIL INVESTORS WHO HAVE CREATED THIS MASSIVE FOLLOWING FOR PALANTIR AND ALL THINGS KARP , CALLING HIM DADDY KARP AND THE LIKE. AND THIS IRREVERENCE HE HAS CARRIED THROUGH AND PROMISED HE WOULD WHEN HE WENT PUBLIC.
AND HE HAS CARRIED IT THROUGH TO TODAY. CAROLINE: THE BEST BID IS IF YOU SCROLL DOWN TO THE BOTTOM OF YOUR STORY AND THE LINK THAT JUST SHOWS US DR. KARP: TALKING TO HIS LOW -- LOYAL INVESTORS. LET'S WATCH A LITTLE BIT OF THAT VISIT. RUN THE TAPE. >> THEY DO NOT COMPREHEND HOW WE COULD HAVE TURNED A SWITCH AND GONE FROM WHAT ADULT PROFESSIONAL MANAGERS AND SOME ANALYSTS THOUGHT WAS A FRANKENSTEIN MONSTER POWERED BY A FREAK SHOW LEADER MET ME, TO A DYNAMIC, CLEARLY PROFITABLE COMPANY WORTHY OF AN ADMITTED TO THE S&P 500. CAROLINE:
I AM HOPING WE WILL SEE HIM POWERING HIS WAY THROUGH THE WOODLANDS, BUT THAT SPEAKS TO HIS DESIRE TO WORK AGAINST WALL STREET BUT NOW HE IS HAVING TO APPEASE THEM AT THE SAME TIME. LIZETTE: IT IS INTERESTING BECAUSE A NUMBER OF RETAIL INVESTORS DO BACK IN FOR THE SAME REASON THAT INSTITUTIONAL INVESTORS ARE NOT BACKING HIM AT THE SAME PACE AND FURY. IT BREAKS DOWN TO TWO THINGS. NUMBER ONE IS TECH. BRIDGE TWO'S LEADERSHIP. ON THE TECH SIDE, INSTITUTIONAL INVESTORS DO NOT BELIEVE PALANTIR'S CLAIMS THAT AI SALES WILL HIT THE TRACTION THAT THEY SAY THEY ARE GOING TO ON THE COMMERCIAL SIDE AND ALSO ON THE GOVERNMENT. PALANTIR FOR THE FIRST TIME THIS YEAR WILL BE MAKING MORE MONEY FROM HIS COMMERCIAL CUSTOMERS THAN IT HAS IN ITS GOVERNMENT ONES. ON THE PERSONALITY SIDE, THERE WERE INSTITUTIONAL INVESTORS AND ANALYSTS THAT DO NOT LIKE THE IRREVERENCE THAT ALEX KARP RINGS TO THE TABLE -- BRINGS TO THE TABLE AND HAVE QUESTION HIS JUDGMENT, INCLUDED THAT INCLUDING THE SPAC VENTURE AND SOME ANALYSTS SAY THEY HAVE NOT COMPLETE TAKEN THEIR LUMPS ON IT EVEN THOUGH THEY HAVE RECONCILED IT ON A FINANCIAL BASIS.
>> ALEX KARP WALKING THROUGH THE WOODS BECAUSE IT IS HIM, ABSOLUTELY HIM. HE IS UNUSUAL. HE DOES NOT BEHAVE LIKE A TYPICAL S&P 500 CEO. HE IS VERY OUTDOORSY. HE HAS MOVED HIMSELF AND THE COMPANY AWAY FROM CALIFORNIA TO COLORADO, BUT HE STILL DELIVERS. EXPLAIN MORE TO ME ABOUT HIM AS
A LEADER IN PERSON AND WHY WE CARE AND WHY WE HAVE WRITTEN A BUSINESSWEEK PIECE. LIZETTE: THERE ARE SO MANY THINGS THAT ARE INTERESTING ABOUT ALEX KARP, BUT ONE OF THE BIG ONES THAT IS IMPORTANT TO FOCUS ON IS HE, ALONG WITH HIS COFOUNDERS OF PALANTIR, HAVE STRUCTURED THE OWNERSHIP OF THIS COMPANY SO THEY HAVE SUPER VOTING RIGHTS IN PERPETUITY. THEY DID THIS WHEN THEY STRUCTURED THE COMPANY TO GO PUBLIC. WHEN THE S&P RELAXED THE STANDARDS ALLOWING FOR MULTI STRUCTURE SHARES TO BE ACCEPTED, PALANTIR WAS IN MATED WITH THAT, SO WE DO CARE ABOUT HIM BECAUSE HE WILL CONTINUE TO CONTROL IT.
CAROLINE: ALL GETTING PRETTY STAR TREATMENT AND THAT WAY. NEXT FOR COMING ON TO DESCRIBE IT ALL. WHAT HAVE WE GOT COMING UP? ED: FIRST, THE U.S. AND INDIA HAVE AGREED TO WORK
TOGETHER IN SETTING UP A SEMICONDUCTOR FABRICATION PLANT. THE PROPOSED PLAN WOULD BOLSTER MANUFACTURING IN THE COUNTRY AND BE ENABLED BY INDIA'S SEMI CONDUCTOR MISSION AND STRATEGIC PARTNERSHIPS. PLUS, A SWEETENED BID FROM MURDOCH'S GROUP. IT VALUES IT HIGHER THAN THE PREVIOUS BID. AND THAILAND'S VIRTUAL BANKING RACE HEATS UP. THE BANK OF TYLAN SAYS THEY RECEIVED FIVE APPLICATIONS BUT PLAN TO CRAFT NO MORE THAN THREE LICENSES.
THE CENTRAL BANK EXPECTS TO ANNOUNCE WINNERS BY MID-2025 BUT DID NOT NAME THE APPLICANTS. CAROLINE: COMING UP, EIGHT HUNDRED $65 MILLION IN HIS LATEST FUND. THAT IS COMING UP NEXT. THIS IS BLOOMBERG TECHNOLOGY.
FIND ON THE TERMINAL AS WELL AS ONLINE. THIS IS BLOOMBERG. ED: HEADLINE ANNOUNCED IT HAS RAISED 865 MILLION DOLLARS TO INVEST IN GROWTH STAGE COMPANIES AND HAS HIRED A NEW HEAD OF GROWTH TO LEAD THE FUND. HERE TO DISCUSS IS A HEADLINE GROWTH PARTNER. WELCOME TO BLOOMBERG TECHNOLOGY. BIG FUND, GROWTH STAGE. WE HAVE BEEN DOING A LOT OF EARLY STAGE. WHAT IS THE MISSION STATEMENT
OF THE FUND AND WHAT ARE YOU GOING TO BE DOING WITH THE MONEY? NANCY: FIRST, THANK YOU FOR HAVING ME. I'M EXCITED TO TALK ABOUT OUR NEW GLOBAL GROWTH FUND AND STRATEGY. HEADLINE HAS BEEN AROUND FOR ALMOST THREE DECADES.
THIS GROWTH FUND REPRESENTS A NEW STEP IN CONTINUING TO BACK GREAT FOUNDERS ACROSS ALL COUNTRIES AND BE ABLE TO SUPPORT THEM IN ALL PARTS OF THEIR DREAM, SO I THINK IN TERMS OF HEADLINE OVERALL GROWTH STRATEGY , IN THE PAST THEY HAVE BEEN FOCUSED ON DOUBLING DOWN ON EXISTING WINNERS IN THEIR PORTFOLIO. THIS NEW GROWTH STRATEGY HAS BROUGHT ON A NEW TEAM, MYSELF INCLUDED. WE HAVE ALL COME FROM DIFFERENT INSTITUTIONS, BRINGING LOTS OF LEARNINGS FROM ALL THE GREAT PEOPLE WE HAVE WORKED WITH AND THE GREAT TRACK RECORDS AND RESOURCES AND NETWORKS WE HAVE AND WE ARE TRYING TO FIND THE BEST FOUNDERS AND SUPPORT THEM TO THE ENDS OF THE EARTH, USING THE GREAT BACK END THAT HEADLINE HAS BUILT. ED: THE FIRM HAS EXPERIENCE WITH THE ENVIRONMENT IS DIFFERENT.
THE ROUND SIZE IS SO DRY NORMA'S -- GINORMOUS IT IS REMINISCENT OF A GROWTH STAGE THREE OR FOUR YEARS AGO. NANCY: BACKING UP TO WHAT YOU SAID IN TERMS OF CHALLENGING, HEADLINE HAS THREE REALLY UNIQUE ASPECTS. I WOULD CALL IT THE PEOPLE, THE MULTI LOCAL PRESENCE, AND THE PROPRIETARY TECH AND PROCESS. IN TERMS OF PROPRIETARY TECH AND PROCESS, THE HEADLINE TEAM HAS INVESTED IN BACK END INFRASTRUCTURE AND THEY WALK THE WALK WHEN IT COMES TO THAT. AS VC'S, WE OFTEN INVEST IN GREAT ATTACK AND INCORPORATE OURSELVES INTO OUR WORKFLOWS. HEADLINE ACTUALLY DOES. WE HAVE A GREAT TOOL CALLED SEARCHLIGHT AND WE LOOK AT ALL SORT OF 8 MILLION ENTITIES OF COMPANIES THAT THERE ARE GLOBALLY. WE PROCESS PUBLIC AND
THIRD-PARTY DATA SOURCES AND USE OUR OWN ALGORITHMS THAT HAVE BEEN FINE-TUNED OVER THE LAST FEW DECADES AND NOW WE HAVE DATA SCANNING OVER A DECADE AND WE USE THE RIGHT SIGNAL FOR OUR GLOBAL MULTI LOCAL FOOTPRINT OF BRILLIANT INVESTORS AROUND THE WORLD TO GO MEET. CAROLINE: SO YOUR MEETING OFTEN AT THAT POINT. AND COMPANIES THAT ARE NOT JUST BASED ON THE WEST COAST IN THE U.S.. YOU ARE LOOKING AT THEM IN BRAZIL AND BERLIN AND WORLDWIDE. WHEN YOU THINK ABOUT LARGE VALUATIONS, WHERE IS THE OPPORTUNITY THAT SEARCHLIGHT AND OTHER USES OF TECHNOLOGY AS WELL TO BE ABLE TO THEN LOOK AT MAKING THESE COMPANIES MORE EFFICIENT? NANCY: WE CONTINUE TO SEE TREMENDOUS OPPORTUNITY GLOBALLY, PARTICULARLY IN EUROPE. WE HAVE BOOTS ON THE GROUND AND GREAT INVESTORS AND PARTNERS IN BERLIN, PARIS, LONDON, AND OTHER PLACES WHO SPEAK THE LANGUAGE, UNDERSTAND THE LOCAL IDIOSYNCRASIES OF THOSE CULTURES, AND WE TRY TO FIND THE BEST COMPANIES THERE. IN EUROPE, TWO DECADES AGO ONLY 5% OF VENTURE FUNDING WAS FLOWING THERE. AS OF 2024 YEAR TO DATE, IT IS
SOMETHING LIKE 18% AND WHEN YOU LOOK AT THE ACTUAL ECONOMIC VALUE CREATION GLOBALLY THERE IS STILL PLENTY OF OPPORTUNITY FOR US TO BE ABLE TO MATCH THE FUNDING SOURCES WITH THE GREAT TALENT DENSITY AND OPPORTUNITY WE ARE SEEING. CAROLINE: YOU HAVE AN EXTENSIVE PORTFOLIO AT HEADLINE. PERHAPS SOME HAVE NOT BEEN TREATED PLEASANTLY ON THE PUBLIC MARKET. I THINK OF THE SUCCESS STORIES THAT HAVE BEEN BEATEN UP LIKE BUMBLE AND THEN YOU HAVE BEEN IN THE NEW REALLY HOT NAMES. ARE YOU GOING TO LEAN INTO THE AI OPPORTUNITY? WHERE ARE YOU THINKING YOUR INVESTMENTS WILL LAND? NANCY: A LOT YOU MENTIONED THERE. ACROSS ALL STAGES COME OUT WE HAVE TO BE AWARE OF CERTAIN MACRO TRENDS, BUT GENERATIONAL TECHNOLOGIES, COMPANIES, AND PRODUCTS ARE BUILDING AS WE SPEAK NOW IN EVERY MARKET CYCLE SO WE WILL CONTINUE TO BACK THEM .
AS EARLY TO AI, IT IS A HUGE BUZZ WORD AND A LOT OF COMPANIES ARE THINK ABOUT HOW THEY CAN INCORPORATE THE NEW GENERATIONAL TECHNOLOGIES APPROPRIATELY INTO THEIR WORKFLOWS AND PRODUCTS. I WANT TO BACK UP AND JUST THINK THROUGH WHEN THERE ARE BIG PLATFORMS SHIFTS WHERE NEW TECHNOLOGIES -- HOW THESE GET ADOPTED. IT TYPICALLY FOLLOWS THIS CURVE, WHICH IS TO SAY THE FIRST FEW YEARS ARE THE EARLY ADOPTERS THAT MIGHT BE MORE EXPERIMENTAL AND USUALLY AFTER 20% MARKET PENETRATION IT GETS TO THAT EARLY MAJORITY AND LATE MAJORITY. AFTER THAT, IT WILL PLATEAU, SO I THINK THERE HAS BEEN A LOT OF EXCITEMENT ABOUT THESE NEW GENAI TECHNOLOGIES. WHEN YOU ARE A HAMMER, EVERYTHING LOOKS LIKE A NAIL.
THE SMART FOUNDERS ARE THINKING THROUGH WHICH PRODUCTS ARE APPROPRIATE TO APPLY AND WHICH FORMS OF INTELLIGENCE. THERE IS A LOT OF NUANCE THERE THAT I WISH WE HAD TIME TO COVER. CAROLINE: I WISH WE DID, TOO. WE APPRECIATE IT. COMING UP, WE WILL BE JOINED BY BEENA AMMANATH. WE WILL DISCUSS SOME TOUGH PICTURES.
THIS IS BLOOMBERG TECHNOLOGY. CAROLINE: TRUST IN ORGANIZATIONS AND THEIR EMERGING TECHNOLOGIES IS DECLINING. THAT IS ONE OF THE INSIGHTS FROM DELOITTE'S LATEST ETHICS SURVEY OUT TODAY. WE ARE JOINED BY THEIR TECHNOLOGY TRUST PRACTICE LEADER. THERE ARE SEVERAL CONCLUSIONS. IF YOU LOOK AT YOUR ON YOUR
CHANGE AND TALK TO PROFESSIONALS OR TECHNOLOGY INDUSTRY WORKERS, MORE RECOGNIZE THE GOOD USE OF THE TECHNOLOGY, BUT AT THE SAME TIME THE EXTENT OF CONCERN ALSO INCREASES. WHAT ARE THE OTHER FINDINGS? BEENA: FOR ME, THAT WAS THE MOST EXCITING MONTH THAT EVERYBODY IS RECOGNIZING THE VALUE BUT ALSO THE RISK. THE BIGGEST RISK WITH AI IS NOT USING IT AT ALL IN THE ORGANIZATION AND PEOPLE -- THE OTHER BIG FUNDING FOR ME WAS 80% OF COMPANIES HAVE ROLLED OUT ETHICAL TECH TRAINING OR AI ETHICS TRAINING AND 70% OF EMPLOYEES WHO TAKE IT ARE ACKNOWLEDGING THERE IS A CHANGE IN THEIR BEHAVIOR ON HOW THEY APPROACH TECHNOLOGY OR THINK ABOUT TECHNOLOGY, WHICH IS A HUGE RATE. CAROLINE: WHAT ARE THE SURVEYS SHOWING THAT PEOPLE UNDERSTAND ETHICAL USE OF AI TO BE? WHAT IS ETHICS IN THIS CONTEXT? BEENA: THERE ARE A FEW. WE LOOK AT IT FROM QUITE A FEW DIMENSIONS. THE ONE THAT CAME UP TO THE TOP WAS DATA PRIVACY AND WE HAVE RELIABILITY OF THE ALGORITHM, BIAS, WHETHER THE AI IS SAFE AND SECURE, WHETHER IT IS BEING RESPONSIBLE AND IT IS THE RIGHT THING TO DO FOR SOCIETY.
IT COVERS A BROAD RANGE, BUT DIFFERENT DIMENSIONS. WHAT WE SAW A RISE TO THE TOP IS THE NEED FOR SAFE AND SECURE AI. ED: I WANT TO TAP INTO WHAT YOU JUST SAID. A CONCLUSION IS YOU HAVE TO BE USING AI. LOADS OF PEOPLE WATCHING THE SHOW, IF YOU ARE A TECHNOLOGY COMPANY OR NORMAL COMPANY, DELOITTE MIGHT HELP YOU BRING A NEW SYSTEM IN. HOW HIGH IS THE ANXIETY TO RUSH IN AI TECH NOW? BEENA: I WOULD SAY IT WAS HIGH A FEW MONTHS AGO, BUT NOW IT IS KIND OF THAT RISK FACTOR COMING IN EARLY ON IN THE CONVERSATION AND THE NEED TO BE RESPONSIBLE ABOUT IT AND MITIGATE THOSE RISKS EARLY ON GOING IN.
YOU CAN GET THE FULL VALUE OF AI ONLY IF YOU ARE PROACTIVE ABOUT RISKS. THE BIGGEST CONCERN OF THE SURVEY IS AROUND REPUTATION DAMAGE AND FINANCIAL IMPACT OF LEVERAGING AI. CAROLINE: SO THE TAKE AWAY HIS GO SLOWER, BE SAFE, OR SOMETHING ELSE? BEENA: GO FAST BUT BE AWARE THERE ARE RISKS THAT COME WITH IT SO ADDRESS IT PROACTIVELY. CAROLINE: BEENA AMMANATH. ONE COMPANY REALLY FOCUSED ON AI IS META-, KICKING OFF ITS DEVELOPER EVENT AND HARDWARE SHOWCASE WEDNESDAY. THE COMPANY IS LIKELY TO SHOW OFF ITS NEW VR TECHNOLOGY.
LET'S GET A CHECK ON WHAT TO EXPECT. WHAT ARE YOU TRAINING YOUR EYES ON? >> HISTORICALLY THIS CONFERENCE HAS BEEN ABOUT VIRTUAL REALITY, SO THE QUEST HEADSETS. THE METAVERSE WAS SOMETHING WE HEARD A LOT ABOUT. IT WAS HERE WHERE THE COMPANY RENAMED FACEBOOK TO META. WE ALSO KNOW THEY ARE GOING TO
BE DIVING INTO SOME AUGMENTED REALITY GLASSES AND WE WILL GET TO SEE A PROTOTYPE OF THE GLASSES THEY HAVE BEEN BUILDING FOR YEARS AND SORT OF A GLIMPSE INTO THE FUTURE. I DO NOT THINK IT IS SOMETHING THAT WILL BE WIDELY AVAILABLE TO THE GENERAL CONSUMERS, BUT IT IS GOING TO GIVE US AN IDEA OF WHAT THEY VIEW AS THE FUTURE OF AR AND HOW THEY ARE TRYING TO TAKE THESE BIGGER GLASSES AND MOVE THEM DOWN TO SOMETHING THAT IS MORE MANAGEABLE ON A DAY-TO-DAY BASIS FOR PEOPLE. ED: YOU AND I WILL BE THERE TOGETHER. WE WILL PROBABLY BE INTERACTING THROUGH THE METAVERSE.
WE HAVE HAD GOOGLE IO. HOW DO PEOPLE FEEL ABOUT META CONNECT? IS IT THE ROARING FESTIVAL OF TECHNOLOGY THAT OTHER COMPANIES HOPE THEIR ANNUAL DEVELOPER SHOWCASE IS? >> I DO NOT THINK IT GETS THE REPUTATION OF THE APPLE EVENT. THERE IS SO MUCH REPUTATION WITH THE IPHONE. THIS USED TO BE FOCUSED ON SOFTWARE DEVELOPERS WHO WERE BUILDING ONTO FACEBOOK OR INSTAGRAM.
IT HAS SHIFTED TO BE MORE OF A HARDWARE SHOWCASE, WHICH META HAS INVESTED IN. I DO NOT THINK WE THINK OF META AS A HARDWARE PLAYER THE WAY WE THINK OF APPLE, SO IT IS GROWING IN POPULARITY BUT NOT ON THE SAME LEVEL. CAROLINE: PEOPLE HAVE BEEN EXCITED BY THE GLASSES. WHAT IS THE DEVELOPER ECOSYSTEM
LOOK LIKE AROUND THAT? HOW HAVE THEY MANAGED TO BUILD THE RIGHT APPLICATION TO BE SERVED ON THESE HARDWARE? KURT: THE RAY BANS ARE THE CONSUMER VERSION OF WHAT THESE GLASSES SHOULD LOOK LIKE. THEY ARE NOT AS POWERFUL, BUT THERE IS A TONGUE DEVELOPER STUFF HAPPENING WITH THE QUEST. THE IDEA IS WITH THE NEW AR GLASSES IT IS SOMEWHERE BETWEEN THOSE AND THERE WILL BE DEVELOPER INTEREST MOVING FORWARD. ED: YOU PROFILED SOMEBODY AT META THAT HAS A KEY ROLE HERE. WHY DO WE NEED TO KNOW ABOUT HER? KURT: SHE IS IN CHARGE OF THOSE RAY BANS BUT ALSO THE HEAD OF PRODUCT FOR THE NEW AR GLASSES THEY ARE BUILDING. THESE PROJECTS ARE EVENTUALLY GOING TO MEET IN THE MIDDLE, SO I THINK SHE IS AN IMPORTANT PERSON TO NOW BECAUSE IF THIS IS THE FUTURE MARK ZUCKERBERG INVASIONS, THAT WE ARE ALL WEARING THESE GLASSES ON HER HEAD, THIS IS THE PERSON LEADING THAT PRODUCT EFFORT. YOU CAN READ ABOUT HER AT
BLOOMBERG THIS MORNING. CAROLINE: LET'S GO READ IT. HAVE A SAFE FLIGHT TO THE WEST COAST. MEANWHILE, ANOTHER THICK AND FAST EDITION OF BLOOMBERG TECHNOLOGY. SO MUCH TO DIGEST. ED: THERE IS A LOT GOING ON IN THE NEWS CYCLE. I CANNOT BELIEVE WE ARE DOING A
STORY ABOUT INTEL BEING BOUGHT BY QUALCOMM. WE HAD GREAT REPORTING AND GREAT GUESTS. YOU KNOW WHERE TO FIND IT, ONLINE AND ALWAYS ON THE BLOOMBERG PLATFORMS AS WELL. I AM OUT HERE IN SAN FRANCISCO WITH THE TEAM. RACE FOR A BUSY WEEK.
THIS IS BLOOMBERG TECHNOLOGY. ♪
2024-09-24 22:54
