Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. Bloomberg Tech is live
Speaker 1: from coast to coast with Caroline Hide in New York
Speaker 1: and ever Low in San Francisco.
Speaker 2: This is Bloomberg Tech coming up all eyes on apples
Speaker 2: developer conferences. The Iphonemaker is set to unveil a revamped series.
Speaker 2: We'll be live from Kupertino plus in video and sk
Speaker 2: Heinez they partner up on next generation AI memory chips
Speaker 2: with a multi year deal and SpaceX gets ready to
Speaker 2: go public.
Speaker 3: Will discuss what to.
Speaker 2: Expect from this week's record breaking IPO. But at the
Speaker 2: moment we turn our attention to what the markets are
Speaker 2: up to and look a reprieve from the sell off
Speaker 2: we saw on Friday.
Speaker 3: Now we're having the best day in.
Speaker 2: About a month for the Nastak one hundred, but remember Friday,
Speaker 2: we had the worst day in a year for this benchmark,
Speaker 2: as technology just saw a real sell off, anxiety that
Speaker 2: maybe we'd run too far, too fast, particularly in the
Speaker 2: world of hardware and chips. Well, today we've bounced back
Speaker 2: on the socks. We're up six point four percent, but
Speaker 2: that's just clawing back some of the losses we saw
Speaker 2: on Friday. After its benchmark had its worst day since
Speaker 2: twenty twenty. So maybe we get a little bit more
Speaker 2: positive momentum, particularly as in videos been talking about and
Speaker 2: as buying opportunity. But also we get intricate news. Look
Speaker 2: at Intel that this is a report coming from the
Speaker 2: information that maybe Google and others are turning to different
Speaker 2: makers manufacturers of their chips, not just TSMC. Could we
Speaker 2: get a big healthy order coming through from Google for
Speaker 2: TVUS from Intel? We charge up twelve percent on that
Speaker 2: particular reporting from the information. But look at what's happening
Speaker 2: in terms of Apple. Look all eyes on what we're
Speaker 2: going to get in terms of sery, what it's going
Speaker 2: to signal to developers. We're currently up stealthily maybe fifteen
Speaker 2: sixteen percent. Yeah, todate, it's the second best magnificent seven
Speaker 2: performance throughout all of those stocks on the year, because
Speaker 2: it even manages to do well when we've got anxiety
Speaker 2: around AI.
Speaker 3: So let's talk about what.
Speaker 2: We therefore could see in terms of a refueling on
Speaker 2: this stock when they start to infuse AI a little
Speaker 2: bit better. Bloomberg Apple, and of course Consumer Tech Managing
Speaker 2: editor Mark German is alongside our own ed Ludlower adds
Speaker 2: over in Kubatino, we're luckily to go into La for
Speaker 2: our man of the moment. When it comes to all
Speaker 2: Apple reporting as well, Mark Gum and we start with you. Look,
Speaker 2: you've been reporting intricately on what we're going to be
Speaker 2: getting in terms of Siri.
Speaker 3: Is it going to live up to the hype?
Speaker 4: I think if you look at the features from AI
Speaker 4: standpoint on Apple devices right now, you basically have two
Speaker 4: subsets of features. You have Apple Intelligence, which are the
Speaker 4: on device models, the cloud models, things like writing tools,
Speaker 4: things like more advanced notifications, and then you have Siri.
Speaker 4: I would say both of those buckets are subpar compared
Speaker 4: to the competition. After today, you're going from subpar and
Speaker 4: you're going to be upgrading to pretty adequate, right And
Speaker 4: so I think this new Sery will be extremely effective
Speaker 4: and enjoyable and useful for mass consumers. And I think
Speaker 4: that will put a little bit of pressure and threat
Speaker 4: on the chat gbts, the Geminis, the anthropics of the world.
Speaker 4: But in terms of game changing innovation, whiz bang new
Speaker 4: AI features, you're not going to see that. You're going
Speaker 4: to see a breakthrough new Siri interface, A Serri app,
Speaker 4: Serie evolving into a chatbot, Siri working really effectively for
Speaker 4: the first time in fifteen years, using those underlying models
Speaker 4: from Gemini. So I think overall, Apple has a very
Speaker 4: positive story to tell on Siri. And then on the
Speaker 4: Apple Intelligence front, the non serie AI features, there's a
Speaker 4: lot of good stuff, things for photo editing. You're also
Speaker 4: going to see some improvements across iOS and new customizable
Speaker 4: camera app. So I think a lot of nice refinements.
Speaker 4: And then the last thing, I'll say, a lot of
Speaker 4: people have been asking for major performance and quality improvements.
Speaker 4: Stop throwing a thousand new features at us every year,
Speaker 4: take a step back and make sure everything you've done
Speaker 4: over the last ten years works well. And so they're
Speaker 4: doing that this year as well.
Speaker 5: The headline mark's going to be the standalone app right
Speaker 5: where Siri goes from a place where you have a
Speaker 5: feature a single voice command gives a single result to
Speaker 5: a multi step task within an app that will follow
Speaker 5: you from iOS to mac os, etc. Give us the
Speaker 5: specifics that you've been reporting on how this revamp Seri
Speaker 5: will work in practice.
Speaker 4: Yeah, I mean, I think more broadly, it's Siri moving
Speaker 4: from a voice assistant where you can ask it questions
Speaker 4: and get an answer to being an always on copilot
Speaker 4: to help you get things done throughout your day. I
Speaker 4: can say things like write an email to add about
Speaker 4: my upcoming schedule and bring over the notes that I've
Speaker 4: taken about our meeting that I want to discuss at
Speaker 4: our in person meeting, and also search the web for
Speaker 4: more in depth details on potential TV wardrobes or specific
Speaker 4: topic and throw that into the email as well summarize
Speaker 4: those details. So multi step queries, pulling information from across
Speaker 4: your own data and the web, and also using context
Speaker 4: from what's on your screen, being able to work across
Speaker 4: your applications, across first party third party apps and your services,
Speaker 4: and it's going to be pretty broad in its functionality
Speaker 4: using those Gemini models. The other thing they're doing is
Speaker 4: they're launching a perplexity competitor chat GPT web search competitor.
Speaker 4: So right now, when you ask things to Siri, if
Speaker 4: it doesn't know the answer, it'll throw you to Google Search,
Speaker 4: or it'll throw you to a chat GPT search. Now
Speaker 4: they have an in house aipowered web search engine within Siri,
Speaker 4: and so basically it's everything they've promised everything people have
Speaker 4: asked for and a little bit more on top. So
Speaker 4: I think this new sery, if it works, which I
Speaker 4: think it will for the most part, is going to
Speaker 4: be a success story for them.
Speaker 5: My interact with Bloombo's Mark German are about to get
Speaker 5: a whole more exciting. Digitally speaking, bluebos Mark German leads
Speaker 5: our coverage of Apple and also consumer technology. Let's go deeper.
Speaker 5: Let's ask what happens next with Caroline a millionacy president,
Speaker 5: principle analyst with creative strategies, and let's start with the
Speaker 5: idea that if we get this the standalone serie app
Speaker 5: that Mark's reported on is whether it's it's as simple
Speaker 5: as displacing an iOS user's use of Chatch, GPT or
Speaker 5: claud as an app within their phone. You see that happening.
Speaker 6: I think it's all about the value that is pertinent
Speaker 6: to me as a consumer, and so I think what
Speaker 6: the app does, as Apple is so focused on devices,
Speaker 6: allow me to take the experience I have with see
Speaker 6: across the multiple devices that I have. And Apple is
Speaker 6: quite unique because at the end of the day, they
Speaker 6: are the manufacturer that has consumers that own so many
Speaker 6: different devices. So they must be catering very carefully to that.
Speaker 6: I don't want to feel like I'm getting a different
Speaker 6: experience depending on which Apple device I'm on. But I
Speaker 6: do think that what Mark was saying about where Apple
Speaker 6: intelligence is today also matters a lot for Apple. And
Speaker 6: it's different than what Claude or chat GPT are doing
Speaker 6: today because is it really embedded in the devices and
Speaker 6: we need to remember what Apple sells is devices.
Speaker 5: I wrote about that today in the Tech in depth
Speaker 5: about this idea that whatever's going on with the smartphone market,
Speaker 5: even if Apple absolutely nails this, it won't change the
Speaker 5: situation this year. Memory pricing is basically Android that's weighing
Speaker 5: on the smartphone market anyway. But there is this idea
Speaker 5: that the next phase of Siri follows me in the
Speaker 5: installed device space, from my coos to my macOS. How
Speaker 5: important is that?
Speaker 6: It's very important because I think that is what is
Speaker 6: going to be physically lock customers in. And I know
Speaker 6: that there's always a bit of a cringe when we
Speaker 6: say lock because when we think about regulators and so
Speaker 6: we'll be interesting to see what happens to see her
Speaker 6: in Europe as a point as a thought, but I
Speaker 6: do think that having the ability to have my experience
Speaker 6: carry across all my devices is what consumers at the
Speaker 6: end of the day one, because that's the true value.
Speaker 5: The next phase of Siri also longer term, either does
Speaker 5: or doesn't drive switches. So one thing that people keep
Speaker 5: saying to me is there's a lack of education about
Speaker 5: how an everyday person might use Siri anyway. You know,
Speaker 5: they might be an Android user and say, okay, wow,
Speaker 5: I like the look of Siri, but what do you
Speaker 5: see out in the world.
Speaker 6: I really struggle to think our AI as a as
Speaker 6: a switcher mechanism because people are still lockingto an ecosystem,
Speaker 6: and I think that if you're looking at the models
Speaker 6: one week, one is ahead and the other one the
Speaker 6: following week, it's pretty much parity, and it will boil
Speaker 6: down to how does it show up within the device.
Speaker 6: Apple has always been really careful of putting attention where
Speaker 6: a mass market and consumer understanding. So Mark mentioned camera. Absolutely,
Speaker 6: I'm expecting intelligence to continue to show up in a
Speaker 6: way that makes the difference to a consumer of it
Speaker 6: just wants to take a great picture. It's simple, but
Speaker 6: it delivers versus trying to be too focus on the
Speaker 6: productivity side of things and the enterprise.
Speaker 5: Apple shares up two and a half percent in the
Speaker 5: moment and are very close to overtaking Alphabet, the parent
Speaker 5: of Google, is the best performing mag seven stock this year.
Speaker 5: The company has been given sort of the benefit of
Speaker 5: the doubt, been called AI adjacent, given a lot of
Speaker 5: credit for not spending tens of billions of dollars on
Speaker 5: develop AI. But from your perspective and creative strategies perspective,
Speaker 5: how much pressure is there on Apple that Siri has
Speaker 5: to be right this time around?
Speaker 6: You know last year this time last year we were
Speaker 6: talking about with consumers are not walking into a store
Speaker 6: to asking for AI. I think it's still like that,
Speaker 6: but consumers are already placing their preference in what chatbot agent,
Speaker 6: whatever you want to call it, they use every day.
Speaker 6: So there's definitely more pressure on Apple to deliver something
Speaker 6: that is comparable to chat, ubt or cloud.
Speaker 5: And in a year's time, you and I can sit
Speaker 5: down again and ask whether a multi step task version
Speaker 5: of Siri that has a agentic capability moves lead or
Speaker 5: Caroline and mis and ac mil a AC principle. Analyst,
Speaker 5: President of Creative strategies, has such grasp on what's happening
Speaker 5: in consumer technology.
Speaker 2: Character she so does the perfect person to have out
Speaker 2: with you and Cooper Tino. Meanwhile, we got so much
Speaker 2: more to come on the show and in video it
Speaker 2: is back sk Heinex's next chapter. Two companies strike a
Speaker 2: multi year deal to build the future of AI memory.
Speaker 3: More on that next, more on what these.
Speaker 2: Markets are up to look Jensen warn himself saying, maybe
Speaker 2: you should start buying the dip. Well, we're up two
Speaker 2: and a half percent if people buy the Dipper, the.
Speaker 3: NASA one hundred.
Speaker 2: We sort of hard the worst day in a year
Speaker 2: on Friday today the best day in a month.
Speaker 3: This is a prem bag tech in Video and sk Heinex.
Speaker 2: They are partnering on next generation AI memory chips. They're
Speaker 2: deepening ties, as is the South Korean chip maker really
Speaker 2: is battling with Well Samsung in its home market in
Speaker 2: this booming memory focus. Now the companies have signed a
Speaker 2: multi year deal spanning chip design and manufacturing for more
Speaker 2: prenom Vexine King, who covers all things semiconductors, joins us.
Speaker 2: And it was just a few days ago that we
Speaker 2: know that well Micron alongside Samsung and sk Heinix are
Speaker 2: going to be there for Verra Rubin, But what is
Speaker 2: this deepening relationship with SKHINEX mean.
Speaker 7: I mean from a technical perspective, the way that memory
Speaker 7: interacts with these processes that in video makes is becoming
Speaker 7: increasingly important. If you want performance to improve, then that interface,
Speaker 7: that way that that information gets conveyed has to get
Speaker 7: better at the rate at which the processor gets better.
Speaker 7: So it makes sense that they'll start talking to each
Speaker 7: other at an early point on the technical side of things.
Speaker 7: And that's what we think is going on in terms
Speaker 7: of the technology. There's also strategic moves and tactical moves
Speaker 7: going on with the companies.
Speaker 2: Tactical moves now, there's moves in the market more broadly
Speaker 2: when you look at the run up that we saw
Speaker 2: after a sell off on Friday, but in particular I'm
Speaker 2: looking at Intel today in now it seems as though
Speaker 2: there's a reporting coming out of the information that maybe
Speaker 2: Intel could be a manufacturer of choice going forward for TPUs,
Speaker 2: for alphabets, chips. How much are we seeing these companies
Speaker 2: just having to rely on other manufacturing partners in TSMC, Yeah.
Speaker 7: I mean, as we reported last week, you'll remember de
Speaker 7: Wi Wooh's story that TSMC is doing its best to
Speaker 7: add as much capacity as it possibly can, but really
Speaker 7: isn't keeping up with the booming demand on the leading edge.
Speaker 7: So of course, if you're Google, if you're anybody, you're
Speaker 7: you're looking at potential alternatives. Intel has said, hey, we're
Speaker 7: going to be great again. We're going to have manufacturing
Speaker 7: capacity for everybody. We haven't seen anybody actually commit to
Speaker 7: using it yet, but clearly you're going to look at
Speaker 7: Samsung and you're going to look at Intel as your
Speaker 7: next best choices after TSMC. Those two companies really have
Speaker 7: to step up. Intel has said, look, as this year
Speaker 7: goes on, you'll start to see customers emerge. You'll start
Speaker 7: to see that business pick up. So far, though, it's
Speaker 7: really struggling.
Speaker 2: Take us back to Samsung, how much of it is
Speaker 2: a headache? If it feels though Jensen is sort of
Speaker 2: anointing sk Heinex in this way.
Speaker 7: Well, there are a couple of things. I mean, Samsung
Speaker 7: is the largest memory chip maker, They've always dominated this market,
Speaker 7: they have the largest capacity. But Skhynix was smart in
Speaker 7: terms of their early shift towards focusing on this market
Speaker 7: on AI basically related memory, and so therefore it make
Speaker 7: sense for Jensen to kind of bat his eyelids at
Speaker 7: SKA to get them to continue to sort of advance
Speaker 7: the art and to force some song to respond to
Speaker 7: that and to bring in that capacity. So for him,
Speaker 7: having these guys competing with each other to sort of
Speaker 7: keep him happy is a really good way to sort
Speaker 7: of move the market forward and keep everybody focused on
Speaker 7: the capabilities that his chips can bring.
Speaker 2: Batting his eyelids, You've always got the best terms of phrase,
Speaker 2: Ian King, Thank you so much. Meanwhile, let's stay in
Speaker 2: South Korea. Intent to today's big number. It's more than
Speaker 2: three hundred and fifty billion dollars. That's how much market
Speaker 2: value was actually wiped out from the Cosby over in
Speaker 2: South Korea amid a brutal sell off. Investors already on
Speaker 2: edge ahead of South Korea's Monday open, but the scale
Speaker 2: of that sell off that we've just seen shocked many
Speaker 2: Cosby a plunge nearly nine percent within minutes. It triggered
Speaker 2: circuit breakers. Volatility surged across the market all about after,
Speaker 2: of course, Friday's tech route in the US and.
Speaker 3: A forty two percent collapse in a triple.
Speaker 2: Leverage career, etf fears of a deeper down term they
Speaker 2: were spreading far. We'll return to that story in a moment.
Speaker 2: But another story we're watching is Son might win freed.
Speaker 2: He's taking his bed for freedom directly to the White House.
Speaker 2: Do you remember him, the FTX co founder formally applied
Speaker 2: for a presidential pardon more than two years after being
Speaker 2: convicted any multi billion dollar collapse of his crypto empire.
Speaker 2: For more, Bloomberg's Aberbanni Morrison joins us. Now he's meant
Speaker 2: to be in prison for a long time.
Speaker 8: Yes, he was sentenced to twenty five years in prison.
Speaker 8: But over the past eighteen months or so, we've seen
Speaker 8: him launch this pretty aggressive campaign to reshape his public
Speaker 8: image and to get in the good graces of the president.
Speaker 8: He's been using a social media platform interviews with conservative
Speaker 8: media outlets to really push his arguments for why he
Speaker 8: deserves clemency and say things that are favorable to the president.
Speaker 2: Okay, what therefore could be landing if a tool We've
Speaker 2: heard any discussion around the White House administration that it
Speaker 2: might be allowing SBF to do that, Well, it was
Speaker 2: quite the opposite.
Speaker 8: The President said in an interview with The New Times
Speaker 8: in January that he had no plans to pardon SBF.
Speaker 8: Yet SBF has a bitted an application anyway. And I
Speaker 8: think a lot of people are getting inspiration from Trump's embrace.
Speaker 3: Of his clemency authority.
Speaker 8: So he's issued more than sixteen hundred grants of clemency
Speaker 8: since the start of his second terms, and sixteen hundred
Speaker 8: to thright. And many of those are white collar defendants
Speaker 8: and figures in the crypto industry like Sam Bankman Freed.
Speaker 3: And some of those are going.
Speaker 8: Through the formal channels through the Department of Justice, but
Speaker 8: others are going through less traditional channels, hiring lawyers and
Speaker 8: lobbyists and consultants who have ties to Trump's inner circle
Speaker 8: to try and get their cases heard and in front
Speaker 8: of the White House. So what we're seeing with Sam,
Speaker 8: he's making these arguments, pointing out the sense of injustice
Speaker 8: he feels, but also trying to remake his.
Speaker 3: Public image a little bit.
Speaker 2: We'll see how this one rings out in the White
Speaker 2: House today. We thank you very much, indeed, but he
Speaker 2: makes Evbany Morrison on all things, Sam aguan Fried look
Speaker 2: Aside from FTX, let's look at what shares a Bitcoin
Speaker 2: are up to at the moment. Because crypto has been
Speaker 2: in the eye of the storm in terms of the
Speaker 2: sell off look risk aversion pervaded it back at the
Speaker 2: end of last week. There was also force selling pressure
Speaker 2: that was perhaps being built by Michael Sailor, and of
Speaker 2: course the fact that his own focus had perhaps been
Speaker 2: to start selling bitcoin. Many had always thought that his DAT,
Speaker 2: his digital asset treasury, would.
Speaker 3: Keep on buying bitcoin.
Speaker 2: But they are back buying today and that's giving some
Speaker 2: confidence back to the market. We're up three and a
Speaker 2: half percent as we see strategy that artist formerly known
Speaker 2: as MicroStrategy back buying. Now coming up, we'll discuss what
Speaker 2: we expect from SpaceX is Astronomical IPO SLAD this week.
Speaker 3: This is Bloomberg.
Speaker 5: Techs Elon Musk wants to build the infrastructure for AI
Speaker 5: in space and he's asking investors to help pay for
Speaker 5: the rocket, satellite and now AI company wants to raise
Speaker 5: around seventy five billion dollars in what will be the
Speaker 5: largest IPO in history.
Speaker 9: Spacexs are is probably our greatest commercial space company hands down.
Speaker 10: It will enable the next iteration of what we want
Speaker 10: to see as the space industry continues to grow.
Speaker 5: This isn't just a space story anymore. After folding in
Speaker 5: Musk's AI startup Xai earlier this year, investors buying into
Speaker 5: SpaceX are also buying into the future potential of grock
Speaker 5: AI models and Musk's vision for massive computing infrastructure. That
Speaker 5: ambition comes with a hefty price tag. New filing shows
Speaker 5: SpaceX's AI business, as in XAI, lost nearly six billion
Speaker 5: dollars last year and billions at the start of this
Speaker 5: year as money poured into computing power and infrastructure to
Speaker 5: compete with Open AI and Anthropic. Still, SpaceX has major advantages.
Speaker 5: Starlink has become a powerful cash generator through its satellite
Speaker 5: internet business, while the copani's launch operations continue to secure
Speaker 5: billions in government and private contracts.
Speaker 11: What people need to realize about this company is it's
Speaker 11: the It isn't just a little bit of ahead of
Speaker 11: the entire launch industry on planet Earth. It's orders of
Speaker 11: magnitude ahead.
Speaker 5: And now Wall Street once in Goldman, Sachs, Morgan, Stanley
Speaker 5: and JP Morgan leading more than twenty banks working on
Speaker 5: the offering, and Musk negotiated record low fees, But the
Speaker 5: IPO also raises big questions like whether investors are comfortable
Speaker 5: bedding not just on must original vision, but making humanity
Speaker 5: a multiplanetary species and getting to Mars, but on a
Speaker 5: future combining rockets, AI, and social media into one sprawling empire.
Speaker 11: And so what we're buying is the next you know,
Speaker 11: the global economy, you know, two doto and three dot
Speaker 11: zero as we look at buying into into SpaceX.
Speaker 5: If that happens, SpaceX could redefine what the modern public
Speaker 5: company looks like on Earth and in space.
Speaker 2: Let's get more what to expect this week with Bloomberg's
Speaker 2: IPA reporter Bailey Lipschualtz, who might already feel a bit
Speaker 2: exhausted to be honest, And every Thursday is sort of
Speaker 2: when we understand its technical kind of price. Fridays when
Speaker 2: it's going to trade. Is there a sense of the
Speaker 2: amount of demand for this right now?
Speaker 9: We already reported on Friday it was oversubscribed. What that
Speaker 9: really just means is they've already corralled more than seventy
Speaker 9: five billion dollars of orders.
Speaker 3: So kind of mixed feelings.
Speaker 9: I talk to some people and they say, well, that's
Speaker 9: obvious these Normally this is a deal, they kind of
Speaker 9: comes together quite quickly. Skeptics are like, well, why isn't
Speaker 9: it three or four times over subscribe already? That's where
Speaker 9: a normal deal would be. You got to keep in mind,
Speaker 9: it's a seventy five billion dollar deal. So the fact
Speaker 9: that right now there's well north of seventy five billion
Speaker 9: dollars of orders from institutions at least gives you some
Speaker 9: sense of kind of what the next few days will
Speaker 9: look like. Obviously, big IPO orders can come in in
Speaker 9: the final day's final hours, and that's totally separate, at
Speaker 9: least according to our understanding of the retail component, which
Speaker 9: we know bankers at least had been kind of setting
Speaker 9: aside about thirty percent.
Speaker 2: Let's talk about what the decision was to fast track
Speaker 2: for some NASA Russell not for the S and P
Speaker 2: five hundred, and does.
Speaker 3: That impact the level of demand in anyway? I think
Speaker 3: it impacts the expectation.
Speaker 9: The big thing we reported and kind of broke out
Speaker 9: on Friday in the wake of that SMP news was
Speaker 9: not only does this mean the timeframe will not be
Speaker 9: truncated to six months versus twelve months as of now
Speaker 9: the s and P five hundred is holding kind of
Speaker 9: pat on the company needing to be net income positive.
Speaker 9: What that really does mean is, at least according to
Speaker 9: these sales side notes we've been able to get our
Speaker 9: hands on, that's something that might not take place until
Speaker 9: twenty twenty eight. So now you're talking about a similar
Speaker 9: situation that we saw with Tesla, similar similar situation we
Speaker 9: saw with Amazon and Uber, where this is a company
Speaker 9: that fits into the Nasdaq one hundred but isn't eligible
Speaker 9: for the s and P five hundred for quite some time.
Speaker 9: And kind of those dynamics and what it means towards
Speaker 9: either chasing ETFs or being kind of benchmark against the
Speaker 9: SMP five hundred, which really is the only index that
Speaker 9: truly matters to most people.
Speaker 2: Aly Lipschaltz, as I say, racing for this week. Meanwhile,
Speaker 2: we want to bring you some other breaking news across
Speaker 2: the Bloomberg terminal and the moment. The leader of Israel
Speaker 2: has been saying he's going to hold a press conference,
Speaker 2: and here comes.
Speaker 3: Some other news out of it.
Speaker 2: He's ready Prime Minister and Lettinyahu's saying that Israel is
Speaker 2: holding fire in Iran for now, but he's told President Trump,
Speaker 2: then Israel has a full right to self defense as
Speaker 2: we currently speak. Look, Iran has ended its current strikes
Speaker 2: against Israel, we understand according to FARS reporting after both
Speaker 2: nations earlier traded attacks.
Speaker 3: We'll keep you abreast of what's happening there.
Speaker 2: But coming up, we return to tech and we're going
Speaker 2: to be speaking to Paul Hudson, a software developer and
Speaker 2: creator of.
Speaker 3: Hacking with Swift.
Speaker 2: He's here in Coopertino with us as all eyes on WWDC.
Speaker 2: The developers take on the Apple event, what this means
Speaker 2: for Siri, what this means for foldable phones, what this
Speaker 2: means for developers and for your use.
Speaker 3: Of this technology going forward. This is Bloomberg Tech.
Speaker 12: With respect to the stock price, everybody should be very
Speaker 12: excited they can now buy stock at a cheaper price.
Speaker 12: And it's absolutely true that the future of AI is
Speaker 12: very bright. It is completely it is a foregun conclusion
Speaker 12: that AI will be infrastructure for the world.
Speaker 2: Jensen Wong, CEO of Nvidia, there welcome back to Bloomberg Tech,
Speaker 2: and of course he was addressing the selloff that we've
Speaker 2: seen into Asian trading this morning. He was over in
Speaker 2: Seaul but today the bounce back is real. Clearly, he says,
Speaker 2: by the dip and the market listens, we're up two
Speaker 2: point one percent, just off of our previous highs. But
Speaker 2: then a's that one hundred having its best day in
Speaker 2: over a month, but put that into context, and its
Speaker 2: worst day in a year on Friday, the socks the
Speaker 2: Semiconductor index, every single member is in the green today,
Speaker 2: it's up six point five percent, but on Friday, and
Speaker 2: it's worst sell off since the days of COVID since
Speaker 2: March of twenty twenty. So clearly there is a bit
Speaker 2: of a clawback, but not making up yet for Friday's anxiety.
Speaker 3: Let's talk about the anxiety.
Speaker 2: What's pushing through the market, Semiconductor on AI, infrastructure, Marcus
Speaker 2: Primus round Vastellika joins us now and look, is this
Speaker 2: just a typical bounce back after some.
Speaker 3: Fears and loathing built in on Friday?
Speaker 13: I think there's a good portion of that. In today's trading,
Speaker 13: I saw a lot of people talking about we were
Speaker 13: really overdue for a pullback, especially in the semiconductor sector,
Speaker 13: which has been so strong this year. I believe at
Speaker 13: one point it had nearly doubled best year since nineteen
Speaker 13: ninety nine, if I'm not wrong, so I think a
Speaker 13: lot of people were really saying this kind of momentum
Speaker 13: is really unsustainable. So it's not surprising to see a
Speaker 13: pullback at least in the short term. The question, of course,
Speaker 13: even with today's rebound, where do things go from here?
Speaker 13: There continues to be a lot of optimism about AI
Speaker 13: about to demand for semiconductors that we're going to see
Speaker 13: there and I saw today we had a report out
Speaker 13: that Nvidia and Alphabet were considering using Intel as a
Speaker 13: backup chip maker for their chips. Another very positive signal
Speaker 13: at least for a single company, but one of the
Speaker 13: ones that has really been one of the notable outperformers
Speaker 13: this year.
Speaker 2: It's notable that actually deals are still coming thick and fast.
Speaker 7: Now.
Speaker 2: We're also hearing of moves being made by Amazon and
Speaker 2: deal thinking driving up Corning shares seven percent at one point,
Speaker 2: and they've signed.
Speaker 3: A multi billion dollar agreement.
Speaker 2: To supply optical fiber cable connectivity solutions. That really this
Speaker 2: is still a story of picks and shovels of ar
Speaker 2: infrastructure of the build.
Speaker 13: Out right and absolutely, and I think most people agree
Speaker 13: that there's just not enough supply on the market to
Speaker 13: meet all of this demand, which is something that speaks
Speaker 13: to the idea that we're going to continue seeing this
Speaker 13: kind of growth and demand over a longer term period.
Speaker 13: People are thinking that if you look at some of
Speaker 13: the memory and storage companies, which are another real momentum
Speaker 13: area of the market this year, they should continue to
Speaker 13: see these kinds of tailwinds through twenty twenty seven. So
Speaker 13: while there are some concerns about is growth going to
Speaker 13: eventually decelerate, are we going to read some kind of
Speaker 13: peak in terms of earnings or demand, there's at least
Speaker 13: a lot of optimism that, at least for the remainder
Speaker 13: of this year and next year, that trends remain pretty positive.
Speaker 2: Man, Plastelica, He's always telling us about those trends. We
Speaker 2: appreciate you setting us right on today. Now let's get
Speaker 2: back out to Koobertino because all eyes on Apple's Developer
Speaker 2: Day ED take it away.
Speaker 5: Yeah, Apple's up two percent ahead of WWDC and WWDC
Speaker 5: is the Developers conference. This is a conversation around software.
Speaker 5: Paul Hudson's a software developer also the founder and creator
Speaker 5: of Hacking with swift, but basically is a place where
Speaker 5: you train people to go and develop apps for the
Speaker 5: Apple ecosystem. Simple as that. Let's start with this, does
Speaker 5: Siri become a platform right to discuss?
Speaker 14: Well, well, exactly, I'll take a commercial I needs so ideally,
Speaker 14: what helps you today is ways us to expose so
Speaker 14: much of our apps data directly to Siri. So Rana
Speaker 14: saying oh hey, siriy do this behind the scenes for developers,
Speaker 14: we provide data too Siri, and it's intelligently. Apple Intelligence
Speaker 14: takes care of four of us and talks to users
Speaker 14: and handles that integration together for us. That's the kind
Speaker 14: of dream for today.
Speaker 3: Hopefully.
Speaker 5: The point from Apple's perspective is that Siri becomes genuinely useful.
Speaker 14: Yes, I'll take that, Yes, even smarter.
Speaker 5: You know, it goes from a place where it is
Speaker 5: a feature single voice prompt own mum, bone mum to
Speaker 5: multi step tasks. When you're building applications for iOS mac os,
Speaker 5: what are the factors and considerations around how good or
Speaker 5: not Siri is actually right?
Speaker 14: So right now, as you'll know, Seal will often say
Speaker 14: I didn't understand that, or could you repeat that? Or
Speaker 14: which bedroom lights do you mean, we kind of want
Speaker 14: to bypass that and get to things that you just
Speaker 14: care about. But there are fifty different ways users can
Speaker 14: ask for the same thing. We don't want to worry
Speaker 14: about that. That's kind of Apple's problem to figure out, and
Speaker 14: so hopefully they can expose some great APIs today. We
Speaker 14: feed with our data, feed with our code behind the scenes.
Speaker 14: It ties into the natural language model, handles all the
Speaker 14: Apple privacy stuff for us and will just work.
Speaker 5: Privacy is interesting, right. The Bloomberg reporting is that it
Speaker 5: is Google's Gemini. Yeah, in part, that is the model
Speaker 5: underpinning this new iteration of sery. What are the considerations
Speaker 5: around that for you in your community?
Speaker 14: It's obviously critical for us. It's Apple's long standing branding
Speaker 14: thing is privacy is Apple, and we all buy into
Speaker 14: that too. We're all behind that one hundred percent of
Speaker 14: the way. Last year's big announcement for AI from Apple
Speaker 14: was on device fully private AI epic.
Speaker 3: We went wild for that.
Speaker 14: So this year, can it be powered by Apple's private
Speaker 14: cloud compute, which is genuinely research level breakthrough stuff for
Speaker 14: handling private AI? Is it that or is it somewhere
Speaker 14: in Google's headquarters at the google Plex. We're gonna find out.
Speaker 5: So if you would prefer the former, the one hundred percent,
Speaker 5: and why is that better for a developer?
Speaker 14: It's not trust Google, but I definitely trust Apple. I see,
Speaker 14: I definitely trust Apple to take care of users privacy first.
Speaker 14: And for years we all believe in to the same thing.
Speaker 14: That's our first port of call. It'll be done by them, privately,
Speaker 14: by them, owned by them, maybe Google's hardware, perhaps Google's Gemini,
Speaker 14: but hosted by Apple would be the dream. We're going
Speaker 14: to find out.
Speaker 5: Reading the Bloomberg reporting that the thing that resonates with
Speaker 5: me is that Siri is across os. So if I
Speaker 5: you know, we have a standalone Sirie app, that's one
Speaker 5: of the headlines. But I start a project, right, not
Speaker 5: just a single to us at a project on my iPhone.
Speaker 5: It can carry over to the MacBook. Is that a
Speaker 5: factor in when you are a developer for either iOS
Speaker 5: or mac ows, So now you're more capable of going
Speaker 5: across the suite.
Speaker 14: So from a developer's perspective, nearly all the money is
Speaker 14: still making iPhone apps interesting, and I think Apple would
Speaker 14: rather see a wider spread. Maco West Watch ostvs Visions
Speaker 14: as well, and so if they can blur those lines
Speaker 14: even more, it'd be great. I mean, they have these
Speaker 14: things like the Universal Control where your iPad and your
Speaker 14: Mac control by the same mouse cursor. It's done something,
Speaker 14: but we want to see more integration, tighter integration. Really
Speaker 14: kind of only Apple can do this kind of thing.
Speaker 14: You know, Pull, you're a software guy, I am through
Speaker 14: and through it.
Speaker 5: What do you make of John Turners, who is a
Speaker 5: hardware guy historically?
Speaker 14: Yeah, yeah, he's already already a massive celebrity. People are
Speaker 14: lining up for their John Selby's already. But you mean
Speaker 14: here in yeah now the last already. Yes, there was
Speaker 14: a Student Challenge winners meeting John Turners and they were
Speaker 14: all super psyche. They've had the John Turner's signatures and
Speaker 14: the badgers and stuff, so he's already superstar. I think
Speaker 14: it'd be swamp to do with more people. Look, Isy Hardware,
Speaker 14: Yes is Apple hardware. Yes, they're a hardware company, but
Speaker 14: they still firmly believe in the full stack. At the
Speaker 14: positioning right.
Speaker 5: Let's send with something a little fun. This will be
Speaker 5: the year where we get the OS year iOS twenty seven.
Speaker 5: Right at OS twenty seven, Yeah, is that helpful naming
Speaker 5: for you.
Speaker 3: Oh for sure.
Speaker 14: Yeah, it makes it much easier my perspective. You can
Speaker 14: say you want to have OS twenty or whatever, and
Speaker 14: it's fine. I do hope we're going to see a
Speaker 14: mac OS name still, like you know Tahoe right now
Speaker 14: or Big sur A similar as rumors it might go away.
Speaker 14: Everyone enjoys that's fun. They have the crack marketing team Macaws,
Speaker 14: Weed or whatever, right and so hopefully we'll see a
Speaker 14: carry on.
Speaker 5: I guess we'll find out Paul Hudson, software developer in
Speaker 5: the Apple ecosystem, but also of course the creator and
Speaker 5: founder of Hacking with Swift character.
Speaker 3: Great conversation as always.
Speaker 2: And meanwhile, we're taking it up and back to San Francisco, ED.
Speaker 2: We've got kind Adventures coming on. They've just raised three
Speaker 2: hundred and fifty five million dollars in new funds. Where
Speaker 2: are they spending in AI? Deep tech robotics? So much
Speaker 2: more stick with us.
Speaker 3: This is room beg tech. San Francisco's Kind Adventures.
Speaker 2: Well, let's raised three hundred and fifty five million dollars
Speaker 2: in new funding, the latest deep tech robotics focused funds
Speaker 2: That kindd was early into the AI market. Remember back
Speaker 2: in twenty twenty two, a two hundred million dollar fund
Speaker 2: has now become a one billion dollar gross fair market
Speaker 2: value as of June twenty twenty sixth. The fresh capital
Speaker 2: now is coming as a firm's previous vintage has.
Speaker 3: Hit the top one percent of its class. Let's get
Speaker 3: to San Francisco. Let's get to kind of venures.
Speaker 2: Managing partner and founder Steve Jang, congrat Steve. Like you
Speaker 2: were an angel in Uber, you're still a man who
Speaker 2: thinks about being very.
Speaker 3: Early in companies.
Speaker 2: How is that going to look with this new raising
Speaker 2: of funds?
Speaker 3: How early do you have to be in this market environment?
Speaker 10: Yes, and thanks for having me back on Bloomberg. Great
Speaker 10: to see you. You know, early stage feels sometimes like
Speaker 10: a dwindling breed in this day and age of huge
Speaker 10: late stage pre IPO rounds. But we think it's absolutely
Speaker 10: not only still important, but actually even more important in
Speaker 10: this day and age of really fast growth and even
Speaker 10: increased ceilings on valuations. And the reason why is that
Speaker 10: at the early stage we're able to help accelerate these
Speaker 10: companies and these founders through these new technology frontiers in
Speaker 10: a way that later stage funds aren't really well equipped
Speaker 10: for and so we want to continue to focus in
Speaker 10: on the early stage and help help that transition for
Speaker 10: companies from zero to one.
Speaker 2: Zero to one and now we get the ones, and
Speaker 2: now we get the hundreds and the billions and the trillions.
Speaker 2: When we're thinking of SpaceX, which is also an AI company,
Speaker 2: when we think of what's coming in terms of anthropic
Speaker 2: and open AI, what does that mean for some of
Speaker 2: your portfolio companies, particularly when we've got a Perplexity for example,
Speaker 2: which immittedly at the beginning we were thinking was was
Speaker 2: one of those sort of like frontier models, But how
Speaker 2: are they thinking about this moment?
Speaker 10: Sure, I think Perplexities transition is really telling of a
Speaker 10: lot of other companies in the space, like Cursor. You
Speaker 10: have frontier labs that are slowly moving into the application
Speaker 10: layer of AI, but also dealing with the compute constraints
Speaker 10: that they have today. I think on the demand side,
Speaker 10: which we're seeing booming right now. Demand is far outstripping
Speaker 10: supply on the data center and GPU compute side, and
Speaker 10: you're seeing that in the stock market. You're seeing that
Speaker 10: in all of the inference platforms out there like foul
Speaker 10: and Base ten and modal that are seeing phenomenal growth.
Speaker 10: What is happening is that agents, applications and agents, whether
Speaker 10: they're embodied agents like robots or virtual agents like what
Speaker 10: Perplexity computer offers, are driving this token demand from AI
Speaker 10: infrastructure today. And so in that way, people are finding
Speaker 10: their layer, their focus. In perplexities case, they are building
Speaker 10: out a harness that is multimodel agnostic models. And in
Speaker 10: some cases you see a company like claud Anthropic with
Speaker 10: Claud Code, which is building out a single model harness.
Speaker 10: And so what you'll see is a battle and a
Speaker 10: competition between who is providing the state of the art models,
Speaker 10: who is providing the state of the art harnesses, and
Speaker 10: then who is providing the most performant and productive agents,
Speaker 10: whether those are robots, a topic vehicles, or virtual agents
Speaker 10: used by knowledge workers.
Speaker 2: So we can see where the focus is going.
Speaker 3: Because we're only twenty twenty two and you went all
Speaker 3: in on AI. You're continuing to do it this latest
Speaker 3: round of funding. But it's interesting that I think of
Speaker 3: you as having.
Speaker 2: Success from an IPO perspective, like from angel in Uber,
Speaker 2: to exit from combat is to exit when we think
Speaker 2: of Reddit and others, but also you've had success in
Speaker 2: M and A. Is that still going to be a
Speaker 2: playbook when we think of PLAAI for example, Yes.
Speaker 10: I think what we're going to see over the next
Speaker 10: years a year or so is that we're going to
Speaker 10: have an IPO market with SpaceX and anthropic and open
Speaker 10: AI and data breaks really open up. But what we're
Speaker 10: also going to see is that a lot of these
Speaker 10: public companies are going to be very inquisitive, right And obviously,
Speaker 10: as an early stage investor, we want our companies to
Speaker 10: go all the way, stay independent, be founder led, and
Speaker 10: eventually go public as a platform globally. Now, what the
Speaker 10: reality is is that there are a lot of companies
Speaker 10: out there acquiring companies that will help them accelerate. So
Speaker 10: a lot of the companies of the last cycle that
Speaker 10: are publicly traded today need to catch up, need to
Speaker 10: transform into the AI side as well, and so they'll
Speaker 10: do that through acquisition. And so we're mindful of that
Speaker 10: energy and dynamic happening, and obviously we continue to guide
Speaker 10: our companies on both scenarios, but we want them to
Speaker 10: go public.
Speaker 8: Now.
Speaker 2: You talk a lot about guiding and how you've been
Speaker 2: doing that for a long time and a lot of
Speaker 2: these big businesses is that what gets you in at
Speaker 2: the check level at the moment, because it feels with
Speaker 2: these megafunds who are raising billions and then coming down
Speaker 2: to want to pick out at the seed level too,
Speaker 2: how do you manage to get in and keep the
Speaker 2: hustle and the muscle.
Speaker 10: Sure, you know, we think that early stage investing is
Speaker 10: very different from all other stages as a group in
Speaker 10: venture capital, and the reason why is that we're investing
Speaker 10: in founders first, and we're investing in a product vision.
Speaker 10: They may not even have a product det when we
Speaker 10: actually invest, and so we're helping them with product development,
Speaker 10: technology roadmap, building a team. All of these things are
Speaker 10: about getting to that first customer, that first traction and revenue.
Speaker 10: And so that's just a very different daily, weekly exercise
Speaker 10: of advice and coaching and acceleration that I think a
Speaker 10: more financed view. Later stage investors kind of get to
Speaker 10: receive that and then take that and help accelerate their
Speaker 10: growth from there. And so there's a nice symbiosis between
Speaker 10: what we do in early stage and what a lot
Speaker 10: of the industry is doing at the later stage.
Speaker 2: Steve, it's great to catch up congratulations on the new funds.
Speaker 2: We're excited to see where you put them to work.
Speaker 2: Kin Adventures managing partner and founder there. Now, let's talk
Speaker 2: about the Milan based app, Giant Bending Spoons.
Speaker 3: You likely have heard of it by now.
Speaker 2: It's officially in marching towards a us IPO at the
Speaker 2: parent company of digital applications like Vimeo, like we Transfer.
Speaker 2: It's commanded a fourteen and a half billion dollar valuation
Speaker 2: in twenty twenty five.
Speaker 3: Now, according to its.
Speaker 2: Filing Monday, the company banked over twenty seven point five
Speaker 2: million dollars in net income just for the first quarter.
Speaker 2: Coming up, we're going to go back to Copatino discussed
Speaker 2: with the co founders of Temo and Inclusive Planning app
Speaker 2: explicitly Magtech.
Speaker 5: Live at Apple Park Cooper Tino. It is Apple WDC,
Speaker 5: and I still want to get more of the developer's
Speaker 5: perspective about what Apple being good AI means, about why
Speaker 5: a revamped sery is important. We're going to speak to TMO.
Speaker 5: In fact, we're going to speak to Melissa Ensori, CPO
Speaker 5: of Timo, one of the co founders, Ellen Larsan Olum,
Speaker 5: co founder and CEO of Temo, also iPhone App of
Speaker 5: the Year twenty twenty five. Great timing to have you
Speaker 5: here with us. Start on the technology side, Helen, What
Speaker 5: does it matter to the company that has the title
Speaker 5: of iPhone App of the Year twenty twenty five, whether
Speaker 5: or not Siri is good, whether it's revamped as more
Speaker 5: of a platform, how will it impact TEMO.
Speaker 15: I think the way we always look at it is
Speaker 15: that we really are super excited about what Apple will
Speaker 15: be launching and announcing because that can help us support
Speaker 15: our users in what we actually want and what we
Speaker 15: basically really want to achieve our users is to take
Speaker 15: this cognitive load out of planning, make it feel more effortless,
Speaker 15: make it feel smart. And I believe that a lot
Speaker 15: of the updates that we are hoping to see could
Speaker 15: be able to sort of help us achieving that mission.
Speaker 5: We can get into some of those very soon. Melissa,
Speaker 5: Let's go over the bit basics of TEMO. What is
Speaker 5: it for, who is it used by? And what I
Speaker 5: guess is your core competence in building it out.
Speaker 16: So like Visual Planning App, where we have built AI
Speaker 16: into the product to support our users in making planning
Speaker 16: more smart and make it more adjustable. To the daily
Speaker 16: plans in real life.
Speaker 5: The way that we have reported about what's coming with Siri,
Speaker 5: Helen is it goes from being single voice command with
Speaker 5: a single response to multi step task, you know, kind
Speaker 5: of similar to some of the things that the Temo
Speaker 5: is already doing. Do you see that as being maybe
Speaker 5: people use Syria instead of Temo or is there a
Speaker 5: kind of you talked a second ago about the traffic
Speaker 5: being driven to Temo. How do you see that happening?
Speaker 15: I see that it's a very good like. What we
Speaker 15: also really like about integrating a lot with Apple technologies
Speaker 15: is that you can support the user sort of throughout
Speaker 15: the OS, so you don't necessarily have to go into
Speaker 15: the app to get the support you need, but you
Speaker 15: can actually maybe just speak to Siri, you can use shortcuts,
Speaker 15: you can use a lot of the sort of entire
Speaker 15: OS to interact with your favorite products and your favorite apps.
Speaker 15: And that's what we really believe is super strong about
Speaker 15: building on the Apple technologies combining with what we also
Speaker 15: of course designed specifically for our user base.
Speaker 5: Timo has a very interesting user base. Melissa, how involved
Speaker 5: are Apple in that in the idea and talk a
Speaker 5: little bit as well. About within the community of users,
Speaker 5: how the app is designed for various neurodiverse.
Speaker 16: Its users, so how Apple is involved in like working
Speaker 16: with Apple.
Speaker 3: I mean, we love working with Apple.
Speaker 16: I think Apple technology is also supporting a lot of
Speaker 16: like accessibility features throughout the system and that we have
Speaker 16: also used some of those in our app.
Speaker 3: And yeah, so I think.
Speaker 15: What we also really like is Apple has a strong
Speaker 15: fo focus on accessibility, and we really try to focus
Speaker 15: on the more sort of invisible disabilities you can say,
Speaker 15: or some of the things that it's not so clear that,
Speaker 15: for example, you need more organization and structure because your
Speaker 15: brain works in a different way that the norm, you
Speaker 15: can say. So we also have added a lot of
Speaker 15: visual support in our app so you can see like
Speaker 15: the time more tangible, like with timers and breaking down
Speaker 15: subtasks so you can actually see what I'm doing, how
Speaker 15: long time are we doing it? So just yeah, seeing
Speaker 15: accessibility as something that is more than yeah, so it's
Speaker 15: more like also the invisible.
Speaker 5: Path of just really quick you iPhone appter the year
Speaker 5: twenty five, big pitch of the new phase of sery
Speaker 5: is it follows you iOS to mac os. Does that
Speaker 5: open things up for you.
Speaker 3: It definitely does.
Speaker 15: I think it's also very much about reaching the users
Speaker 15: where they are, if it's on the phone.
Speaker 3: If it's on your computer.
Speaker 15: It's about getting the support you need throughout the day
Speaker 15: where you need it best. And I think Apple has
Speaker 15: a super strong focus on that as well.
Speaker 3: So that's super exciting.
Speaker 5: What do you want to hear most in this keynote?
Speaker 5: What is the thing that brings you here today? What
Speaker 5: do you want to hear?
Speaker 15: I think some like super excited about some announcements on
Speaker 15: Apple Intelligence back to sort of we really believe there's
Speaker 15: a strong opportunity there to make that sort of smart planning,
Speaker 15: make it feel super effortless building this little personal assistant
Speaker 15: basically that we want to build with Timo that just
Speaker 15: understands everything about you and can support you in the
Speaker 15: best possible way.
Speaker 5: Yea, Melissa Vertza, Sorry Assari, co founder CPO, Temo, Helen
Speaker 5: Last and Nolam CEO the co founder Timo twenty twenty
Speaker 5: Fine iPhone after the year.
Speaker 2: Caroc had a great conversation ed doing such great work
Speaker 2: over and Koubatino, We thank you and you've got a
Speaker 2: long day ahead of you with Apple announcements. But that
Speaker 2: does it for this edition of Bloomberg Tech. And of
Speaker 2: course all eyes are also on the SpaceX IPO. You
Speaker 2: know that well and true for this week, which we
Speaker 2: learn is said to.
Speaker 3: Be quote well oversubscribed.
Speaker 2: Now that's according to sources who say the company plans
Speaker 2: on closing IPO books this Wednesday.
Speaker 3: Post close.
Speaker 2: We'll keep beating that drum until the IPO day. Of course,
Speaker 2: it starts training on Friday, and keep you posted all
Speaker 2: the latest as it prices out on Thursday. Now, don't
Speaker 2: forget to check out our podcast. You can find it
Speaker 2: on the terminal as well as online on Apple, Spotify,
Speaker 2: and iHeart. Let's recheck back on these markets because we
Speaker 2: are seeing a by the dip mentality across the Nasdaq
Speaker 2: one hundred across chips, in particular the socks bouncing back
Speaker 2: after Friday's really ugly sell off. It was the worst
Speaker 2: day since March of twenty twenty for the SOX. Today
Speaker 2: we are back up six point eight percent. We're seeing
Speaker 2: buying of the magnificent seven, Apple among them as they
Speaker 2: have their WWDC. Then as that one hundred up two
Speaker 2: percent from New York from Cubattino, there's a Bluebig Tech