Qualcomm Eyes $22 Billion Growth | Bloomberg Technology
>> FROM THE HEART OF WHERE INNOVATION, MONEY, AND POWER COLLIDE IN SILICON VALLEY AND BEYOND, THIS IS "BLOOMBERG TECHNOLOGY" WITH CAROLYN HYDE AND ED LUDLOW. >> LIVE FROM NEW YORK, THIS IS BLOOMBERG TECHNOLOGY. ALL EYES ARE ON THE NVIDIA AS THE CHIPMAKER IS SAID TO REPORT EARNINGS AFTER THE CLOSING BELL. PLUS COMCAST PLANS TO SPIN OFF
SOME OF ITS CABLE TV CHANNELS. IN THE CEO OF QUALCOMM JOINS US AS THE COMPANY DETAILS GROWTH AND $22 BILLION IN ANNUAL REVENUE OVER THE NEXT FIVE YEARS. FIRST WE CHECK IN ON THESE MARKETS. A LITTLE BIT OF ANXIETY AHEAD OF THE ALL-IMPORTANT MACRO EVENT WHICH BARCLAYS AND BANK OF AMERICA IS SAYING NVIDIA. OF COURSE WHEN YOU HAVE POTENTIALLY 8% MOVE ON EITHER SIDE THAT COULD BE A $300 BILLION MOVE IN MARKET CAPITALIZATION. WE ARE DOWN TWO THIRDS OF A
PERCENT. NVIDIA IS UP TWO THIRDS WERE PERCENT. THAT IS CONTRIBUTING TO THE DOWNSIDE. WE QUESTION THE SUPPLY SIDE OF BLACKMAIL. WE WANT TO GET -- OF BLACKWELL. WHERE WE GO ON THE FOURTH QUARTER COMING AFTER THE BATTLE TODAY. -- AFTER THE BELL TODAY.
WE WANT TO WELCOME OUR WORLDWIDE TV AND RADIO AUDIENCES. YOU KNOW QUALCOMM AS THE BIGGEST MILLER OF SMARTPHONES BUT THE COMPANY IS PUSHING INTO NEW MARKETS AND GENERATING UP TO $22 BILLION OF ADDITIONAL REVENUE BY 2029. 4 BILLION WILL COME FROM THE INTERNET OF THINGS. QUALCOMM CEO WAS DETAILING THAT
VERY VISION YESTERDAY AND WHAT YOUR TOTAL ADDRESSABLE MARKET, NOW UP TO $900 MILLION. IT IS GREAT TO HAVE YOU HERE AFTER THAT INVESTOR MEETING. YOU'RE LOOKING AFTER 2030. WHAT GIVES YOU THAT CONFIDENCE. >> GREAT TO BE HERE TALKING TO YOU.
WE HAVE BEEN ON THIS TRAJECTORY SINCE 2021 WHEN WE HAD OUR LAST INVESTOR DAY. WE REALIZE THE TECHNOLOGY WE PRODUCED FOR MOBILE CAN BE VERY DISRUPTIVE AND WE CAN BUILD A LEADING POSITION WITHIN AUTOMOTIVE AND WE THOUGHT WHAT WOULD BE THE RIGHT THING TO TELL INVESTORS HOW WE ARE GOING TO DIVERSIFY THE -- HOW WE ARE GOING TO DIVERSIFY THE COMPANY. MOST OF OUR REVENUE IS MOBILE. IT IS A GREAT MARKET BUT IT DOES NOT GROW AS MUCH UNTIL WE HAVE AN AI CYCLE.
THE OTHER MARKETS, IT WILL DRIVE HIGHER MULTIPLES. AS THE REVENUES FROM NON-MOBILE BECOME A BIGGER PERCENTAGE OF ALL, WE HAVE AN OPPORTUNITY TO SEE MULTIPLE EXPANSION, SO WE WANT TO OUTLINE TO INVESTORS OUR TRAJECTORY. WHAT IS EXCITING IS WHERE WE ARE RIGHT NOW. WE ARE VERY HAPPY WITH RESULTS OF THE COMPANY. WE ARE GROWING IN ALL MARKETS. IN FIVE YEARS WE WILL HAVE $22 BILLION OF REVENUE. BEARING ANY CYCLICALITY ON THE
MARKET, WE EXPECT TO CONTINUE TO GROW ANNUALLY INTO THOSE TARGETS. CAROLINE: BEARING ANY CYCLICALITY? WHAT ARE THE DOWNSIDE RISKS TO AUTOMOTIVE DEMAND, TO PEOPLE UPDATING TO NEW ANDROID PHONES? >> WHAT I MENTIONED ABOUT CYCLICALITY, IN THE SEMICONDUCTOR INDUSTRY WE HAVE SEEN IN THE PAST FEW YEARS WE HAD DIFFERENT CYCLES, DIFFERENT MARKETS, INVENTORY CORRECTIONS. CAPACITY CONSTRAINTS. WE ARE NOT ASSUMING THAT GOING FORWARD BUT SOME OF THAT COULD HAPPEN. WHEN YOU LOOK AT THE
NORMALIZATION WE ARE SEEING, WE FEEL GOOD ABOUT THE ABILITY TO GROW ANNUALLY. CARS IS ONE WE ARE INCREDIBLY EXCITED. PEOPLE ARE BUYING CARS BECAUSE OF THE COMPUTATIONAL CAPABILITIES IN THE BIG SCREENS AND THE DIGITAL CAPABILITIES OF THE CAR. CAROLINE:
BEFORE WE GET TO CARS, THE INTERNET OF THINGS WILL BE SOMETHING WE HAVE BEEN TALKING ABOUT FOR A DECADE. EVERYONE IS EXUBERANT ABOUT THE INTERNET OF THINGS IN REALITY NEVER QUITE GETS THERE. THAT IS WHERE PREVIOUS TIMES YOU'VE MADE TARGETS AND HAVE TO FALL SHORT BECAUSE THE ECOSYSTEM DOES NOT BUILD. WHAT MAKES YOU SURE IT WILL GET TO THAT 14 BILLION? >> I LIKE TO BREAK THAT DOWN. BUT I NEED TO TELL YOU IS WE TALK ABOUT THE INTERNET OF THINGS BUT THE QUALCOMM INTERNET OF THINGS REVENUE STREAM, THEY'RE A BUNCH OF THINGS. WE HAVE VIRTUAL REALITY, MIXED REALITY DEVICES. WE HAVE INDUSTRIAL NETWORKING
AND PERSONAL DEVICES LIKE WEARABLES AND WATCHES. THAT IS OUR INTERNET OF THINGS POCKET. IF WE GAVE A TARGET OF $4 BILLION -- YOU THINK ABOUT WHAT WE'RE DOING RIGHT NOW. SNAPDRAGON IS THE FASTEST PROCESSOR. WE ARE COMING INTO THE INDUSTRY AS A NEW PLAYER WITH A LEADING PLATFORM.
THE ONLY PLATFORM THAT CAN RUN MICROSOFT COPILOT PLUS. IF YOU LOOK AT THE SERVICE MARKET OF PC'S IN 2029 IT IS 35 BILLION. WE SAY WE WILL DO FOUR. IT IS A VERY ACHIEVABLE TARGET, ESPECIALLY WHEN WE THINK WE HAVE THE BEST PLATFORM. CAROLINE: EVERYONE LOVES SILICON. THE SILICON AND THE IPC IS GREAT BUT THERE IS BEEN SO MUCH CYNICISM AROUND THE ADOPTION OF ARM-BASED PC'S.
WHAT IS STOPPING THAT? >> WE SEE IT DIFFERENTLY. WE LAUNCH THE PLATFORM IN MAY AND HAVE 20 DESIGNS. FROM MAY TODAY WE INCREASED THE DESIGN TRACTION 20 TIMES. WE HAVE 50 PLATFORMS ACROSS DELL, HP, LENOVO. CAROLINE: ARE PEOPLE BUYING THEM? >> SALES ARE EXCEEDING OUR EXPECTATIONS. THE OTHER THING IS INDUSTRIAL. YOU ASKED ME ABOUT IOT.
ONE THING THAT CHANGED THE IOT INDUSTRIAL IS AI AT THE EDGE, THE ABILITY TO RUN AI AT THE EDGE. WE CAN RUN A MULTIBILLION PERMIT OR MODEL INTO A DEVICE AT THE EDGE. THAT CHANGES THE COST EQUATION FOR A LOT OF COMPANIES WHO THINK IT WILL BE CHEAPER TO DO IT IN THE CLOUD WHERE THEY HAVE SPECIFIC NEEDS. THAT INFLECTION POINT IS WHAT GIVES US CONFIDENCE WILL GET $4 BILLION IN INDUSTRIAL BY 2029 AND THE OTHER 2 BILLION WE PROVIDED WAS FOR AUGMENTED REALITY AND THE META-SMART CLASS.
IT IS PROBABLY THE FAVORITE CHRISTMAS GIFT. CAROLINE: LET'S TALK ABOUT AN INFLECTION POINT. WHAT HAD BEEN YOUR BREAD-AND-BUTTER, SMARTPHONES AND CELLS. OUR PEOPLE UPGRADING? WILL THEY BE UPGRADING ON ANDROID? >> ANDROID IS THE LARGEST GLOBAL MARKET FOR HANDSETS AND WE HAVE BEEN VERY FOCUSED ON PREMIUM TIER AIR JOINT -- ON PREMIUM TIER ANDROID. PHONES GROW WITH GDP. IT IS FLAT TO SINGLE-DIGIT GROWTH BECAUSE EVERYBODY HAS A PHONE. WHAT WE HAVE SEEN IS THE PREMIUM TIER, THEY ARE GROWING SIGNIFICANTLY. WE SEE A MIX.
WHEN PEOPLE BUY THEIR NEXT PHONE THEY WANT A BETTER PHONE. THAT ALLOWS US TO BE GROWING DOUBLE DIGIT ON A MARKET THAT DOES NOT GROW BY EXPANDING CONTENT. WHAT WE EXPECT IS THAT IS THE TREND AS PEOPLE BY A PREMIUM SMARTPHONE WITH MORE AI AND EVENTUALLY THERE IS THE AI USE CASES THAT START TO BE AS BIG AS APPS, WE WILL SEE AN AI DRIVEN UPGRADE. CAROLINE: WE ARE SITTING WITH THE QUALCOMM CEO. THE UPGRADE CYCLE, CHINA'S GDP IS NOT LOOKING GREAT.
YOU HAVE EXPOSURE TO THAT ECONOMY. WHAT DOES IT FEEL LIKE? >> OUR CHINA BUSINESS, WE ARE VERY HAPPY WITH IT. AS GEOPOLITICS EVOLVES ARE BUSY -- OUR BUSINESS WITH CHINA EXPANDED. AS WE BECOME RELEVANT IN AUTOMOTIVE AND INDUSTRIAL WE HAVE CHINESE CUSTOMERS. AT THE END OF THE DAY, REGARDLESS OF GDP GROWTH, CHINA IS A BIG MARKET. IF YOU'RE A SEMICONDUCTOR
COMPANY YOU HAVE A LEADING TECHNOLOGY THAT CANNOT BE REPLICATED BY A DOMESTIC PRODUCT, YOU'LL HAVE A BIG BUSINESS IN CHINA. CAROLINE: THEY ARE FIGHTING TO MAKE THINGS TO MYSTICALLY BECAUSE OF THE NEW ADMINISTRATION AND THE CURRENT ADMINISTRATION STILL PUSHING BACK ON CHINA. DO YOU HAVE ANY CONCERN ABOUT TARIFFS? >> OUR BUSINESS, WE ARE EXPORTING SEMICONDUCTORS. WE ARE IN THE RIGHT DIRECTION OF TRADE. I ESPECIALLY WANT TO THINK ABOUT TRADE BALANCE. IF WE HAVE A LEADING TECHNOLOGY WE EXPECT CHINA IT WILL BE INTERESTED IN CONTINUING TO BUY OUR CHIPS. WE ARE NOT CONCERNED.
CAROLINE: YOU DON'T HAVE ANY PROCUREMENT ISSUES? YOU'RE NOT HAVING TO STOCKPILE? >> WE ARE A FABULOUS COMPANY AND WE HAVE BEEN A BIG EXPORTER OF CHIPS INTO CHINA. CAROLINE: YOU HAVE AN AMAZING BIRDSEYE PERSPECTIVE OF THE TECHNOLOGICAL RACE WE WOULD LIKE TO TALK OF BETWEEN THE U.S. AND CHINA. YOU HAVE AN ARRAY OF LARGE LANGUAGE MODELS WITHIN YOUR SNAPDRAGON MOBILE SYSTEM AND PLATFORM. SOME OF THOSE CHINESE LARGE LANGUAGE MODELS, HOW THEY PERFORMED COMPARED TO THE U.S. MODELS?
>> WE CAN TALK ABOUT THIS ALL DAY BUT I WILL SUMMARIZE A FEW THINGS. THERE IS A VERY LARGE NUMBER OF MODELS BECOMING AVAILABLE AND THEY ARE VERY SPECIALIZED. I THINK WE ARE HEADING TOWARDS AI AS BEING NEW COMPUTING. MODELS SPECIALIZED INVOICE. WHAT WE ARE SEEING IS A LOT OF THE MODELS ARE BECOMING REGIONALIZED. AS THE COMPUTER STARTS TO SPEAK THE LANGUAGE OF HUMANS EVERY REGION HAS A UNIQUE ASPECT THAT IS DRIVING A LOT OF REGIONAL MODELS.
WE EXPECT THE FUTURE WILL BE LIKE THAT. CHINA WILL HAVE THEIR MODELS, DURABLE HAVE MODELS, AND THEY WILL BE MODELS SPECIALIZED FOR DIFFERENT THINGS. WE ARE AT THE BEGINNING OF THIS EXCITING NEW TRANSITION.
CAROLINE: THE THING THE MARKETS AND MEDIA HAVE WANTED YOU TO TALK ABOUT IS WHETHER YOU WILL BE MAKING ANY ACQUISITIONS OF INTEL PARTS OF THE BUSINESSES. YOUR CEO OUTLINED YOU WILL BE GIVING MONEY BACK TO INVESTORS. HIS M&A NOT ON THE AGENDA? >> WE HAVE ALWAYS BEEN LOOKING FOR OPPORTUNITIES. A LOT OF THE QUALCOMM M&A FRAMEWORK HAS BEEN IMPORTANT WERE VERY TARGET TO ACCELERATE OUR PLANS.
WE HAVE SHOWED THAT WITH THE M&A WE HAVE DONE TO ENTER THE PC SPACE. YOU WILL CONTINUE TO SEE QUALCOMM DOING THAT. RIGHT NOW WE HAVE NOT IDENTIFIED ANY LARGE ACQUISITION THAT IS NECESSARY FOR US TO EXECUTE ON THIS 22 BILLION AND WE ARE SUPER FOCUSED ON EXECUTING ON THE $22 BILLION OVER THE NEXT FIVE YEARS. CAROLINE: GIVE THE INVESTOR BASE THE CONFIDENCE THAT THIS TRANSITION FROM APPLE AND FOCUSING ON ANDROID AND THE INTERNET OF THINGS OPPORTUNITY YOU ARTICULATED YOU WILL GET THERE SMOOTHLY AND WITH CLARITY ON TIMEFRAME? >> THE WAY I SEE IT AND I CANNOT TALK ABOUT WHAT HAS HAPPENED WITH THE STOCK, BUT I THINK THERE MAY BE SOME CONFUSION. OUR PLAN IN THE INVESTOR DAY IS TO TELL INVESTORS THERE ARE STRATEGIES WORKING.
WE DO NOT NEED A NEW STRATEGY. WE HAVE EXECUTED ON WHAT WE SAID WE WILL DO IN THOSE NEW MARKETS. WE HAVE FIVE CONSECUTIVE QUARTERS OF RECORD GROWTH. WE KNEW WE WOULD GROW EVEN WHEN THE MARKET DOES NOT GROW BECAUSE WE ARE GAINING SHARE. WE DELIVER ON OUR PC AND ARE WELL-POSITIONED TO RAMP AND WE TOLD INVESTORS HOW THIS WILL PLAY OUT FOR THE OTHER MARKETS. WE HAD SAID SINCE THE BEGINNING THAT OUR PLANNING ASSUMPTIONS ASSUME APPLE IS COMING OFF THE MODEL. WE HAD SAID OUR CONTRACT
IMPLIES WE HAVE 20% SHARE IN 2026. WILL THAT BE THE CASE? WE HAVE HAD TWO RENEWALS OF APPLE BUT WE HAVE TO MAKE AN ASSUMPTION APPLE IS COMING OFF THE MODEL. EVEN WITH THAT, WE ARE WELL-POSITIONED TO CONTINUE GROWING AND GET TO A POINT IN 2029 THAT WE HAVE 22 BILLION REVENUE, NONMOBILE. WHEN WE GET TO THE END OF THE
DECADE WE HAVE POTENTIALLY 50-50. MOBILE IS ABOVE 50% FOR THE REVENUE GROWTH MARKET. I DON'T KNOW WHAT THE ANXIETY IS BUT I THINK WE FEEL CONFIDENT ABOUT THE PLAN AND WILL CONTINUE TO EXECUTE. CAROLINE: AND ANALYST SAYING WE CONTINUE TO HAVE CONFIDENCE IN THE CEOS ABILITY TO MOVE QUALCOMM.
WE APPRECIATE YOU. THANK YOU FOR BEING HERE. QUALCOMM CEO. LET'S HAVE A QUICK CHECK OF THIS PARTICULAR CHART OF A CHIP COMPANY YOU ARE NOT LOOKING AT EVERY DAY. SEMICONDUCTOR MANUFACTURING
INTERNATIONAL SHARES. MORE THAN DOUBLED OVER LAST TWO MONTHS EVEN IN THE RISKS TIED TO GEOPOLITICAL TENSIONS IN CHINA THE STOCK IS UP 120% FROM SEPTEMBER, TROUNCING GLOBAL SECTOR NAMES INCLUDING NVIDIA. CHINA OUTPERFORMING PARTICULATE ON LAND IN BEIJING TRADING. SPEAKING OF NVIDIA, ALL EYES ON
THE COMPANY REPORTING EARNINGS. WILL DISCUSS WHAT TO EXPECT, PARTICULAR WITH BLACKWELL. THIS IS "BLOOMBERG TECHNOLOGY." >> THERE IS ALWAYS THE POTENTIAL FOR HICCUPS IN ANYONE QUARTER. WE HEARD ABOUT THE DESIGN ISSUE FOR SERVERS WITH BLACKWELL BUT WE ALSO HEARD FROM MICHAEL DELL SAYING WE ARE WORKING AROUND AT. CAROLINE: NVIDIA'S QUARTERLY RESULTS IN THE FORECAST ARE OUT AFTER THE CLOSING BELL TODAY. ANALYSTS ARE ON THE LOOKOUT TO SEE IF THE WORLD'S MOST VALUABLE COMPANY CAN SUSTAIN WHAT HAS BEEN A REMARKABLE RUN.
BLOOMBERG INTELLIGENCE ANALYST JOINS US NOW. EVERYONE ONCE CLARITY ON THE SUPPLY SIDE OF BLACKWELL AND DEMAND FOR THE HOPPER. >> THE SECOND HALF WE HAVE SEEN THE DEMAND FOR THE HOPPER EXPAND. WE EXPECT THEM TO BE LOW DOUBLE DIGITS THIS FISCAL YEAR. WE DO NOT SEE ANY LIMITING IN TERMS OF DEMAND FOR THE HOPPER. EVERYONE IS ANTICIPATING THE BLACKWELL RAMP WHICH WILL SEE A MAJOR PORTION NEXT YEAR. CAROLINE: WE FOCUS ON REVENUE.
IT WILL DOUBLE FOR THE FULL YEAR. IT IS UP 80% FOR THE THIRD QUARTER. LESS FOR THE FOURTH QUARTER. WHAT ABOUT MARGINS. WHAT ABOUT PROFITABILITY? >> WE HAVE SEEN THE PEAK OF THE MARGINS. THEY ARE BEHIND US. GOING INTO Q4 THEY ARE NOT AS LOW AS PEOPLE ARE CONCERNED. WE EXPECT TO STAY ABOVE THE 73 MARK BUT GOING INTO 2025, BLACKWELL HAS NEW PRODUCT RAMPING.
WE EXPECTED TO STAY AT THE SAME LEVELS. WE HAVE SEEN THE COSTS OF THE NEW PRODUCTS INCREASED BUT THEIR ABILITY TO CHARGE MORE PRICING IS NOT GOING THERE BECAUSE THESE ARE VERY EXPENSIVE GP USE. CAROLINE: -- VERY EXPENSIVE GUPU'S. CAROLINE: THEY CERTAINLY ARE.
WE HAVE HAD ALMOST 200% RUN-UP IN NVIDIA OVER THE PAST YEAR AND THAT IS ON TOP OF TRIPLING THE PREVIOUS YEAR. WE HAVE A MASSIVE VALUATION. IS IT TOO HIGH? >> IF YOU GET INTO IT TODAY, MAYBE. WE WILL TELL YOU AT THE END OF THE DAY. THE PROBLEM I SEE, AND LET ME SAY THIS.
I AM A BELIEVER IN AI IN GENERAL . I AM SKEPTICAL OF GENERATIVE AI. IT HAS A LOT OF ISSUES THAT CANNOT BE SOLVED THROUGH THE BRUTE FORCE THROUGH MORE CHIPS AT IT. THAT BEING SAID I AM ROOTING FOR AI. THE PROBLEM WITH EVALUATION ON NVIDIA IS IT HAS ALREADY HAD A TRIPLE, A DOUBLE. IT IS AS IF IT IS A QUARTER
BEING TOSSED AND COMING UP HEADS. THERE IS A DAY IT WILL COME UP TAILS AND MOMENTUM INVESTORS ARE GOING TO FREAK OUT. WITH EVERY EARNINGS CALL WE HAVE , THAT DATE GETS CLOSER. IS IT TODAY? I DON'T THINK SO. THAT IS MY PROBLEM WITH THIS. IT IS A STOP DRIVEN BY MOMENTUM. CAROLINE: TO BE FAIR THEY HAVE FREAKED OUT BEFORE AFTER EARNINGS, EVEN WHEN THEY MEET AND BEAT, BUT THE FORECAST IS NOT LIVING UP TO EXPECTATIONS. WHAT IS IT YOU NEED TO HEAR FROM JENSEN TO GIVE YOU THE CONFIDENCE? IT FEELS LIKE YOU ARE PUSHING AGAINST THE SCALING LAWS THAT HE THINKS THRIVE AT THE MOMENT. KIM: EXACTLY.
THERE ARE A COUPLE OF THINGS THAT CONCERN ME. THERE IS A HANDFUL OF COMPANIES WILLING TO SPEND UNBELIEVABLE AMOUNTS OF MONEY ON THIS. IF ONE OF THEM BLINKS WILL THE OTHER ONES PULL DOWN AND STOP SHOVELING MONEY INTO THE PROBLEM? THAT IS THE ONE THING. WHO ARE WE TALKING ABOUT? APPLE, META, AND MICROSOFT ARE THE BIG ONES. MAYBE AMAZON AS WELL. THOSE ARE THE COMPANIES THAT
HAVE THE CASH FLOW SO THEY DO NOT HAVE TO QUESTION IT. THEY WILL SPEND, SPEND, SPEND. THAT IS A VERY NARROW MARKET. I AM A CAUTIOUS INVESTOR. EVERYTHING HAS GONE RIGHT.
THAT DEMAND IS KEY. BLACKWELL IS A CONCERN. IT IS NOT SHIPPING YET. THEY WILL PROBABLY MODIFY THE PROBLEM THAT IS CAUSING OVERHEATING.
WHEN THESE THINGS GET OUT INTO THE WORLD THEY ARE USED DIFFERENTLY THAN THEY HAVE BEEN TESTED FOR. WE HAVE SEEN THIS MANY TIMES. IT IS ALL A CONCERN FOR THE THING THAT LEADS THE MARKET. IT DRIVES ALL OF THE MARKETS. IT IS SUCH A HIGH COMPONENT OF THE S&P 500. CAROLINE: IT IS A MACRO EVENT. DO YOU BY ON WEAKNESS? KIM:
DO I BUY ON WEAKNESS? I WILL LOOK AT IT VERY HARD ON WEAKNESS. GIVEN THE OTHER MAKERS OF CHIPS AND EVEN PEOPLE DREAMING OF BEING COMPETITORS OF NVIDIA, NVIDIA HAS A LONG RUNWAY TO HAVE PEOPLE NOT CATCH UP TO THEM. THERE IS SOME SAFETY. VALUATION IS STEEP AT THIS POINT. CAROLINE:
PROCEED WITH CAUTION. KIM FORREST, WE ANTICIPATE YOUR TIME. COMING UP, MORE ON THE BIG INCENTIVES COMING TO THE CHIPMAKERS IN AMERICA. CAROLINE: FIRST UP, GLOBAL FOUNDRIES HAS BEEN AWARDED ONE POINT $5 BILLION BY THE BIDEN ADMINISTRATION CHIPS ACT.
THE GRANT WILL SUPPORT THE CHIPMAKERS EXPANSION OF FACTORIES IN THE UNITED STATES EXPECTED TO GREAT THOUSANDS OF PRODUCTION JOBS. SALESFORCE PLANS TO CUT WORKERS FROM ITS RECENTLY ACQUIRED DATA MANAGEMENT STARTUP. THE COMPANY SAYS SOME ROLES WILL NOT BE REQUIRED "POST-HARMONIZATION" AND SET AN AND DATE OF JANUARY 31 FOR THOSE EMPLOYEES. SHARES OF MICROSTRATEGY RISING TODAY, CATAPULTING THE MARKET VALUE OF MORE THAN 00 MILLION. THIS IS THE COMPANY ANNOUNCED PLANS TO INCREASE THE AMOUNT OF CONVERTIBLE DEBT AN EFFORT TO BUY MORE BITCOIN.
COMING UP, WE ARE JOINED BY STRIKE FOUNDER AND CEO AS TRADERS ARE MAKING BULLISH BETS ON BITCOIN. FROM NEW YORK, THIS IS BLOOMBERG TECHNOLOGY. ♪ CAROLINE: A COMEBACK TO "BLOOMBERG TECHNOLOGY." I AM CAROLINE HYDE IN NEW YORK. WE HAVE THE NASDAQ 100 OFF MORE THAN A PERCENTAGE POINT.
WE ARE LOWER IN TERMS OF APPOINTS PERCENT -- IN TERMS OF APPOINTS PERSPECTIVE. NVIDIA IS OFF 1.5% WHEN LOOKING AT THE OVERALL MARKET CAP EROSION OF THE BUSINESS AS WE ANTICIPATE THE ALL-IMPORTANT MACRO EVENT THAT IS THERE EARNINGS.
FISCAL THIRD QUARTER, WILL WE SEE THAT INCREASE IN REVENUE. ARE WE GOING TO SEE UP TO $37 BILLION IN TERMS OF REVENUE FOR THE FISCAL FOURTH-QUARTER. THERE COULD BE AN 8% MOVE ACCORDING TO OPTIONS TRADING ON THE STOCK, WHICH WOULD BE $300 BILLION IN MARKET CAP IN ONE DAY ALONE. WHAT ELSE IS MOVING? CRYPTO. THERE IS THE RISK ON SENTIMENT THAT DRIVES US UP ANOTHER 1.5%. THIS AS IT IS MORE ABOUT THE FEEL-GOOD FACTOR AROUND FUTURE POLICY IN THE UNITED STATES AND HEAVY BUYERS CONTINUING FOR THE BALANCE SHEET.
LET'S TALK ABOUT IT. IT SPENT A LOT IN TERMS OF LOBBYING FOR CANDIDATES ACROSS PARTY LINES AND THOSE EFFORTS HAVE PAID OFF. A GROUP THAT TRACKS THE RESULT SAYS 265 PRO CRYPTO CANDIDATES WORK ELECTED TO THE U.S. HOUSE AND 20 IN THE SENATE AND NOW THEY ARE LOOKING AT HOW THOSE LAWMAKERS WILL INFLUENCE THE INDUSTRY INCLUDING THE POLICY PRESIDENT-ELECT TRUMP. YOUR TO DETAILED THE POLITICAL EFFECTS AND WHAT BUYING IS LIKE, STRIKE CEO JACK MALLERS WHO HAS A PRETTY CLOSE RELATIONSHIP WITH ONE OF THE SENATORS WHO HAS BEEN LONG WITH THE RED EYES, LOOMIS. I WONDERING WHAT YOU ARE SEEING
IN TERMS OF TRADING ON THE PLATFORM SINCE THE ELECTION? JACK: THE WEDNESDAY POSTELECTION OUR BUSINESS DOUBLED. WE SAW 100% GROWTH IN BITCOIN PURCHASES. OUR CUSTOMERS ARE PREDOMINANTLY PURGING BITCOIN AND OVER 90% ARE TAKING THE BITCOIN OFF THE PLATFORM AND HOLDING IT IN THEIR OWN CUSTODY. WE ARE NOT SEEING ACTIVE SPECULATIVE TRADING IN GAMBLING ON THE SHORT-TERM PRICE, WE ARE SEEING LONG-TERM ACCUMULATION ON OUR PLATFORM AND OUR CUSTOMERS ARE EXCITED.
CAROLINE: YOU ARE SUPPORTING THOSE FOCUSED PURELY ON THE ECOSYSTEM. PEOPLE ARE GOING ELSEWHERE TO TRADE, WE NOW HAVE OPTIONS TRADING. WHAT DO YOU THINK OF THAT? WHAT YOU MAKE OF THIS TRANSITION FROM DEFIANT CRYPTO INTO MORE TRADITIONAL FINANCE? JACK: THE LAST TIME I WAS ON THE SHOW I TOLD YOU AND ED -- CONGRATS, BY THE WAY.
I AM THINKING OF YOU. I SAID BITCOIN WAS THE ONLY MONEY AND CRYPTO. I SAID BITCOIN WAS MONEY AND WE SELL OUR CUSTOMERS FINANCIAL SERVICES. IF YOU ARE A CUSTOMER OF MINE YOU WANT BITCOIN FINANCIAL SERVICES, YOU WANT TO PAY YOUR BILLS WITH IT, THESE ARE THE TYPE OF PRODUCTS WE WANT TO SERVE OUR CUSTOMERS IN THE FUTURE. WE DO NOT THINK OF OURSELVES AS A SPECULATIVE EXCHANGE. OPTIONS COME ETF, MS TR, ALL OF THESE THINGS ARE PRO LIQUIDITY. WHAT YOU WANT IN MONEY, YOU
WANTED TO BE SALABLE. ANY POINT 365. ALL OF THIS IS PRO THE QUIDDITY WHICH ENHANCES THE PROFILE FOR BITCOIN TO BE A BETTER ASSET FOR A GOVERNMENT OR CORPORATION OR INDIVIDUAL. EVERYTHING IS BULLISH FOR BITCOIN. THAT IS WHAT I ALWAYS SAY. CAROLINE: CONVINCED ME OF WHY YOU NEED A STRATEGIC BITCOIN RESERVE. THAT IS WHAT YOU HAVE BEEN SPEAKING ABOUT? SORRY, WE ARE HAVING INFRASTRUCTURE ISSUES. JACK: NOT YOUR FAULT.
THE UNIQUE POSITIONING ON THE BLOOMBERG STRATEGIC -- ON THE BITCOIN STRATEGIC RESERVES, THIS WOULD BE ONE OF THE MOST IMPORTANT ECONOMIC ANNOUNCEMENTS IN U.S. HISTORY. I THINK IT WOULD BE ON PART WITH 1971 AND RICHARD NIXON. WHAT IS NOT BEING TALKED ABOUT ENOUGH IS IT IS POSITIVE. CAROLINE: YOU HAVE TO GO OUT AND BUY IN THE MARKET BUT WILL IT ACTUALLY HAPPENED? JACK: MY MEETING IS THIS. IN 1933 THE U.S. HAD A BIG ECONOMIC ANNOUNCEMENT, WE ARE TAKING ALL OF YOUR GOLD. IN 1971 THEY HAD A BIG ANNOUNCEMENT, WE ARE DIVORCING OURSELVES FROM THE GOLD STANDARD. IN 2008 THE U.S. HAD A BIG ECONOMIC ANNOUNCEMENT.
IT IS WE ARE BAILING OUT OF THE BIG BANKS THAT MISBEHAVED. IN 202550 U.S. IS A BIG ECONOMIC ANNOUNCEMENT, WHAT IS IT? IT IS WE ARE PRO TECHNOLOGY, WE ARE PRO INNOVATION. WHAT DOES BITCOIN HAVE? EQUAL RIGHTS, EQUAL NETWORK. THIS IS AN ASSET THAT WAS
ACCESSIBLE TO THE PEOPLE 15 YEARS AGO THAT THE PEOPLE OWNED. GOVERNMENTS ONLY OWN TWO TO 3% OF THE ASSET. IT ACTS IN THE BEST INTEREST OF THE PUBLIC. IT IS PRO INDUSTRY, IT IS PROGROWTH. DOES ANYONE ELSE HAVE A PLAN TO GET US OUT OF DEBT.
WILL WE START A LEMONADE STAND? HOW ABOUT THE BEST PERFORMING ASSET IN THE HISTORY OF MANKIND? WE BUY IT. COINBASE IS AN AMERICAN COMPANY. STRIKE IS AN AMERICAN COMPANY. TETHER SELLS THE U.S. DOLLAR. LET'S SUPPORT THIS INDUSTRY.
CAROLINE: THE MARKET CAP IS LESS THAN THE VIDEO FOR THE ENTIRE CRYPTO ECOSYSTEM. WHEN DOES THAT -- LESS THAN NVIDIA FOR THE ENTIRE ECOSYSTEM. WHEN DOES THAT CHANGE? JACK: EGO GETS IN THE WAY. PEOPLE THINK THEY ARE LATE TO BITCOIN. LATE ACCORDING TO WHO?
BECAUSE YOU'RE COMPARING YOURSELF TO YOUR COLLEGE ROOMMATE OR YOUR COWORKER? OVER THE LAST 15 YEARS THE BEST THING YOU COULD HAVE DONE IS BY BITCOIN. I THINK THAT WILL BE TRUE FOR THE NEXT 1500 YEARS. AS A COUNTRY WE HAVE A CHOICE. EVERYONE ELSE'S UNDERSTANDING
WE ARE PROGROWTH, PRO-BUSINESS, PRO BITCOIN AS THIS NEW ADMINISTRATION TAKES OFFICE AND WE HAVE TO MAKE A DECISION. THE WORST THING WE CAN DO IS NOT KNOWN ENOUGH. TO DE-RISK THIS, WE SHOULD BUY SOME AND PUSH THESE AMERICAN IDEALS IN TECHNOLOGY AND INNOVATION AND GROWTH THROUGH THE BEST-PERFORMING ASSET IN TECHNOLOGY AND MANKIND.
CAROLINE: STRIKE CEO JACK MALLERS , GREAT DEBT -- STRIKE CEO JACK MALLERS. GREAT TO HAVE YOU IN THE HOUSE. PODCAST. FIND IT ON THE TERMINAL AS WELL AS APPLE, SPOTIFY, AND I HEART. THIS IS BLOOMBERG. LET'S TAKE A LOOK AT A NEW TREND IN SILICON VALLEY. UP UNTIL RECENTLY THERE WAS A BIT OF A STIGMA IS A VENTURE FIRM SOLD A LOT OF SHARES IN A PORTFOLIO COMPANY BEFORE AN IPO.
IT WAS SEEN AS A SIGN THE FIRM DID NOT BELIEVE IN THE STARTUPS GROWTH. NOW THAT STIGMA IS GOING AWAY. LET'S DISCUSS. IT DOES FEEL EVERY OTHER DAY WE ARE GETTING ANOTHER ANNOUNCEMENT OF A TENDER OFFER. YOU DID DATA BRIXON SPACEX. IT IS NOT A NEGATIVE.
>> SECONDARIES HAVE ALWAYS BEEN ANYTHING BUT THE STIGMA IS GONE. AS COMPANIES TAKE 10 OR 15 YEARS TO IPO IT IS NO LONGER SEEN AS GIVING UP, IT IS JUST A SIGN YOU NEED LIQUIDITY FOR YOUR LP WHERE IF YOU ARE A VENTURE FIRM YOU HAVE TO RETURN CASH BACK WITHIN 10 YEARS. CAROLINE: HOW FORMALIZED IS THE SECONDARY MARKET BECOMING? KATIE: THERE ARE DIFFERENT TYPES OF TRANSACTIONS. THERE ARE THE TENDER OFFERS WHICH ARE SANCTIONED BY THE COMPANIES, THEY ARE LARGE TRANSACTIONS WHERE OFTEN THE EMPLOYEES WILL ALSO SELL SHARES, BUT THERE IS A LOT OF ONE-OFF TRADES AND THERE A LOT OF WORKERS OUT THERE, A LOT OF DIFFERENT INTERMEDIARIES HELPING TO TRANSACT BETWEEN BUYERS AND SELLERS ON THESE PRIVATE TRADES. CAROLINE:
DOES THIS END UP PUTTING OFF FURTHER IPO'S? KATIE: IN SOME CASES IT DOES BECAUSE PART OF THE PRESSURE FOR IPO'S IS BECAUSE EMPLOYEES OR INSIDERS WANT TO GET LIQUIDITY. THEY WANT TO BUY THAT HOUSE, THOSE EMPLOYEES THAT HAVE BEEN THERE FOREVER. THAT PRESSURE GOES AWAY WHEN THOSE EMPLOYEES AND THOSE INSIDERS ARE ABLE TO GET LIQUIDITY. IT DOES ABSOLUTELY CONTRIBUTE TO A DELAY IN THE IPO. CAROLINE: WE THANK YOU. WE WERE JUST DISCUSSING SPACE-X TENDER. IT HAS JUST MARKED ANOTHER SUCCESSFUL LAUNCH WITH ITS STARSHIP LOCKET -- WITH ITS STARSHIP ROCKET IS ELON MUSK AND PRESIDENT-ELECT TRUMP WATCHED FROM AFAR.
THERE IS WHAT ONE INVESTORS SAID ABOUT THE COMPANIES TRIUMPHS. >> YOU DID NOT WANT TO BE IN SPACE-X WAY. THERE ARE A LOT OF BENEFITS TO SPACE-X BUILDING THE RAILWAY AND A LOT OF BENEFIT THAT NEW OPPORTUNITIES BECOME AVAILABLE. YOU DO NOT WANT TO BE BUILDING SOMETHING ON THE ROADMAP. THEY ARE THE EPICS PLAYER -- THEY ARE THE APEX PLAYER. CAROLINE: LET'S GET MORE. FORMER NASA DEPUTY
ADMINISTRATOR JOINING US NOW. YOU WORKED ALONGSIDE THE LIKES OF ELON MUSK. I AM INTERESTED ABOUT WHAT YOU MAKE OF THESE NEW FEATS, PARTICULAR WHAT THIS TEST LAUNCH SHOWED US. THEY DID NOT GET TO CATCH WITH THE SO-CALLED CHOPSTICKS. >> THIS TEST WAS A MIX. I WOULD DEFINITELY PUT IT IN
THE WIN COLUMN. WE ARE NOT USED TO SEEING A COMPANY OR EVEN A GOVERNMENT AGENCY PUSH TECHNOLOGY LIKE SPACE-X IS DOING. ON THIS FLIGHT, ALTHOUGH IT WAS DISAPPOINTING, WE KNEW THAT WAS A POSSIBILITY. THEY ARE MAKING GOOD CALLS,
SAVE CALLS. THE STARSHIP ITSELF WHICH IS THE MORE COMPLEX VEHICLE WENT ON TO SUCCEED BEYOND ANYONE'S IMAGINATION. THEY ARE TAKING OUT WEIGHT OF THE VEHICLE BY ELIMINATING TILES JUST TO TEST THE BOUNDARIES TO MAKE SURE THEY ARE GETTING THE MOST OUT OF EVERY SECOND OF THE VEHICLE. SEEING THAT STAGE LAND, THE SECOND STAGE LAND INTO THE OCEAN IN SUCH A CONTROLLED WAY, THAT IS THE GOAL. THE GOAL IS CONTINUING TO MARCH ONTO A FULLY REUSABLE VEHICLE AND THEY MADE A LOT OF PROGRESS WITH THE ENGINE LIGHTING ON THE SECOND VEHICLE ON THE SECOND STAGE. A MIX, BUT I WOULD PUT IT IN
THE WIN COLUMN. CAROLINE: THE FACTOR THAT IT SURVIVED REENTRY, THE FACT THAT WE SOLVE A REUNITED -- A REIGNITING OF ONE OF THE ENGINES, PITCH US FORWARD. HOW QUICKLY CAN WE SEE TRIPS TO MARS WITH THIS KIND OF A VEHICLE? >> THE KEY IS THAT THE SPEED OVER THE NEXT COUPLE OF YEARS IF WE ARE SEEING THE CADENCE INCREASE AS WE HAVE SEEN WITH THE FALCON 9 VEHICLE WHERE THEY ARE LAUNCHING MORE THAN 100 A YEAR. THEY RECENTLY SAID THEY WILL BE AT THE 400 MARK IN FOUR YEARS WITH THIS VEHICLE. IF THEY CAN MAKE THAT HE WILL BE HAVING IN ORBIT FUEL TRANSFERS. THAT IS THE KEY TO GOING BEYOND EARTH ORBIT. WHETHER THIS ADMINISTRATION
WILL STILL FULFILL A LEADER AMBITION, WE DO NOT KNOW -- A LUNAR AMBITION, WE DO NOT KNOW. WE HAVE HEARD THE PRESIDENT ELECT AND ELON MUSK TALK ABOUT MARS TRIPS. THOSE REQUIRE REFUELING IN LOWER EARTH OR.
YOU COULD SEE MISSIONS TO MARS IN FOUR OR FIVE YEARS. I DOUBT THEY WOULD PUT PEOPLE ON THEM BUT THAT IS WHAT THE PRESIDENT HAS TALKED ABOUT DOING WITHIN HIS TERM. CAROLINE: WE WERE JUST SEEING PICTURES OF PRESIDENT-ELECT TRUMP ALONGSIDE ELON MUSK. YOU ARE IN THE NASA TRANSITION
WITH PRESIDENT-ELECT OBAMA AT THE TIME. HOW LIKELY ARE WE TO SEE OTHER COMPANIES THRIVE IN THIS NEW ERA WHERE SPACE-X IS SO INTEGRAL AND SO CLOSE TO THE NEXT ADMINISTRATION? >> IT IS A REALLY STRANGE TRAJECTORY IN THE SENSE THAT THE OBAMA TRANSITION TEAM I LEAD 2008 AND 2009 SET US ON A COURSE FOR A MORE COMPETITIVE ARRANGEMENT TO HAVE OUR SPACE TRANSPORTATION TO AND FROM LOW-EARTH ORBIT THAT GAVE THE OPENING TO SPACE-X THAT THEY HAVE ABSOLUTELY RUN THROUGH. NOW HAVE DOMINATED THE MARKET. YOU CANNOT HAVE GUEST HOW MUCH FARTHER AHEAD THEY WOULD BE THAN EVERYONE ELSE. THEY HAD NOT EVEN BEEN ABLE TO GET CONTRACTS THROUGH THE MILITARY SIDE. NOW THEY ARE THE DOMINANT
PLAYER. AT THIS POINT I THINK ANY TRANSITION TEAM, ONCE THEY ARE THERE, IF THE TRUMP FOLKS GO THIS ROUTE, IS TO PUT IN POLICIES THAT WILL ALLOW FOR MORE COMPETITION. THE GOAL IS NEVER A MONOPOLY. WE DID WHAT WE DID BECAUSE THERE WAS A MONOPOLY. IT WAS MUCH MORE EXPENSIVE TO THE GOVERNMENT. AS MUCH AS POLITICALLY THINGS ARE TENSE BETWEEN COMPETITORS RIGHT NOW, THERE IS NO REASON WE SHOULD NOT BE ABLE TO INSPIRE MORE PEOPLE THAN JUST SPACE-X TO BE MAKING THESE ADVANCEMENTS. I DON'T THINK WE WANT A SINGLE
PLAYER. CAROLINE: WHERE DO YOU -- THE ULTIMATE RANK OF -- LORI: AT THIS POINT UNITED LAUNCH ALLIANCE IS STILL LAUNCHING. IT IS MORE EXPENSIVE, THEY ARE NOT REUSABLE.
BLUE ORIGIN HAS LAUNCHED THEIR VULCAN ROCKET. I THINK IN 2025 THEY WILL LAUNCH NEW GLENN WHICH IS SUPPOSED TO BE REUSABLE OVER THE LONGER-TERM. THE EUROPEANS ARE DEVELOPING NEW VEHICLES, MOSTLY NOT REUSABLE. THERE IS NO QUESTION SPACE-X IS IN THE LEAD. AS I HAVE SAID IN MY BOOK, IT WOULD BE HARD FOR ANYONE TO CATCH UP IN 10 YEARS UNLESS SPACE-X AND ELON MUSK TRIPS. CAROLINE: ESCAPING GRAVITY, YOUR
FIRSTHAND ACCOUNT OF THE NEW ERA OF NASA IN SPACE. WE THANK YOU VERY MUCH. COMING UP, COMCAST PLANS A CABLE TV SPINOFF. WE WILL HAVE ALL OF THE DETAILS. THIS IS BLOOMBERG TECHNOLOGY. >> THERE COULD BE MORE DECLINE, IT COULD LEVEL OFF.
YOUTUBE TV, HULU LIVE. >> WILL IT HURT YOUR SOUL IF YOUTUBE TV SURPASSES YOU AS THE BIGGEST CABLE PROVIDER? >> NOT IF THEY ARE USING XFINITY BROADBAND. WE WILL HAVE TRANSITIONED OUR COMPANY.
WE WILL BE HAPPY WITH THE COMCAST NBC UNIVERSAL WE GOT. CAROLINE: TRANSITIONING CAREFULLY. THE COMCAST CEO IN OCTOBER WHEN HE FLOATED THE IDEA OF SPINNING OFF THE COMPANY'S CABLE NETWORKS TO A NEW COMPANY IN THE FACE OF AN INDUSTRYWIDE DECLINE IN SUBSCRIBERS. NOW COMCAST CONFIRMED. THE SPINOFF OF CABLE TV CHANNELS. BLOOMBERG'S LUCAS SHAW WITH WHY
THAT LEVEL OF DETAILS AND THOSE CHANNELS AND WHAT THEY LEAVE OUT IN TERMS OF CERTAIN CHANNELS. >> THEY WILL KEEP NBC, WHICH IS THE BROADCAST NETWORK. IT IS THEIR BIGGEST SPORTS RIGHTS, INCLUDING PRO FOOTBALL AND A LOT OF PRO BASKETBALL. IT HAS THEIR HARD NEWSGATHERING BUSINESS AND IS ALSO AN ENTERTAINMENT BUSINESS, THEIR BIGGEST ENTERTAINMENT BUSINESS. THEY ARE ALSO KEEPING BRAVO BECAUSE BRAVO PROGRAMMING DOES QUITE WELL ON PEACOCK. WHEN THEY ARE THINKING ABOUT THE FUTURE OF THEIR ENTERTAINMENT BUSINESS, THERE IS THERE STUDIO BUSINESS, THERE IS THERE THEME PARKS, AND THEN THERE HAS WHAT HAS BEEN CABLE NETWORKS BUT IS NOW ABOUT STREAMING. ALL OF THE CABLE NETWORKS THAT
DO NOT FIT INTO THAT STREAMING THAT HAVE BEEN A DRAG ON THAT STOP ARE GETTING SPUN OUT INTO SOMETHING COMPLETELY SEPARATE. CAROLINE: WHAT DOES THAT SPIN CON END UP BECOMING? IT IS $7 BILLION IN REVENUE. DOES THAT GROW? DOES THAT SHRINK? LUCAS: IT WILL DEPEND ON THE NEW LEADERSHIP. THE COMCAST EXECUTIVES I'VE SPOKEN WITH BELIEVE THIS NEW SPIN CO COULD BE A VEHICLE FOR ACQUISITION. IT COULD BUY OTHER CABLE NETWORKS AND MEDIA ASSETS. IT COULD ALSO BE SOMETHING THERE PRIVATE EQUITY FIRM WILL BUY. IT IS UNCLEAR.
A LOT OF PEOPLE END INDUSTRY LOOK AT IT AND SEE IT AS SOMETHING THAT WILL SHRIVEL AND DIE, BUT THERE IS A BELIEF IT COULD BE A VEHICLE FOR ACQUISITIONS COMCAST WOULD NOT WANT TO DO. CAROLINE: APPRECIATE THE ANALYSIS. THANK YOU. LET'S TALK MORE ABOUT PIVOTING. HASBRO WANTS TO SHIFT ITS FOCUS BACK TO PLAY. THE MAKERS OF G.I. JOE AND MR. POTATO HEAD IS MOVING AWAY FROM FILM AND TV
AND FOCUSING ON DIGITAL VERSIONS OF POPULAR PLANT CASH OF POPULAR BRANDS. WHERE DOES THAT -- VISIONS OF POPULAR BRANDS. WHERE DOES THE IP GO? >> VIDEOGAMES FOR HASBRO THEY FEEL IS VERY INTUITIVE. KIDS GROWING UP WITH PLATO AND G.I. JOE NOW WANT TO PLAY VIDEO GAMES. THEY WANT TO PLAY VIDEO GAME
VERSIONS OF G.I. JOE ON CONSOLE AND PC. >> YOU DEEP DIVE ON THE CEO, RELATIVELY NEW TAKING OVER. HE IS A GAMER AT HEART. YOU TALK ABOUT HOW INTO THE
CARD GAME HE WAS PLAYING. >> CHRIS COXE AND I PLAYED MAGIC THE GATHERING TOGETHER DURING OUR MEETING. HE BEAT ME. WE ALSO GOT TO TALK ABOUT THE FUTURE OF MAGIC THE GATHERING, WHICH IS A COLLECTIBLE CARD GAME . IT IS SEVERAL DECADES OLD. REALLY POPULAR AND A HUGE DRIVER OF SALES FOR THE WIZARDS OF THE COAST DIVISION OF HASBRO.
CAROLINE: LET'S TALK ABOUT THEIR BUYERS. I HAVE A SON OBSESSED WITH POKEMON AND THERE A LOAD OF CARDS AND PARAPHERNALIA WE KEEP BUYING. THERE ARE ALSO OLDER COLLECTORS. TODAY TRANSITIONED TO THE
GAMING OR IS ABOUT THE YOUNGER DEMOGRAPHIC? >> MAGIC THE GATHERING IS A GAME THAT IT IS COMPLICATED TO GET GOOD AT BUT YOUNGER PEOPLE CAN ENJOY IT. RIGHT NOW WHAT HASBRO IS CONTENDING WITH IS THERE A LOT OF OLDER MAGIC THE GATHERING PLAYERS WHO WANT TO CONTINUE PLAYING WITH THEIR FRIENDS AND COMMUNITIES, BUT THEY'RE ALSO LAUNCHING ALL OF THESE CARDS WITH MARVEL AND LORD OF THE RINGS THEMES TO BRING IN NEWER PLAYERS. CAROLINE: HOW DO THEY PARTNER? WHAT DOES THE FUTURE LOOK LIKE? >> MAGIC THE GATHERING IS INCORPORATING IP FROM OTHER COMPANIES INTO THE CARDS. THAT WILL LOOK LIKE SPIDER-MAN OR WOLVERINE IMAGES ON THESE PLAYING CARDS. CAROLINE:
PARTNERSHIPS ACROSS IP , CROSS BUSINESSES, ACROSS PLATFORMS AS WELL. THANK YOU, IT IS A GREAT NEED. -- IT IS A GREAT READ. THE LATEST WITH ALL THINGS HASBRO. THAT IS THE LATEST FOR THIS EDITION OF "BLOOMBERG TECHNOLOGY."
AFTER THE BELL NVIDIA COMING OUT WITH EARNINGS. ALL IMPORTANT MACRO EVENT FOR THE ENTIRE MARKET. YOU'LL BE SEEING UP TO 300 BILLION DOLLARS OF MARKET CAPITALIZATION MOVE. THIS IS A $3 TRILLION COMPANY. WE ARE OFF OF OUR LOWS. 145.93 IS WHERE WE TRADE. CAN WE SEE A FUTURE OF BLACKWELL SUPPLY-SIDE MATCHING UP WITH DEMAND? WE WILL HAVE A SPECIAL AT 4:00 EASTERN TIME. FOR NOW CHECK OUT WHAT WE JUST WENT FOR YOU ON THE SHOW BY TUNING INTO OUR PODCAST. THIS
IS "BLOOMBERG TECHNOLOGY."
2024-11-22 06:55
