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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Well, Caern, we begin with the lukewar market reaction. We're

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Speaker 3: seeing to another blowout from Nvidia. Sales at the world's

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Speaker 3: most valuable company gained eighty five percent to eighty one

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Speaker 3: point six billion dollars in the latest quarter, and in

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Speaker 3: Vidio forecast sales in the coming quarter of about ninety

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Speaker 3: one billion and also boosted its quarterly dividend and announced

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Speaker 3: an eighty billion dollars stock buyback. And Video CEO Jensen

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Speaker 3: Wong says he expects demand to come from ordinary businesses

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Speaker 3: outside the tech sector.

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Speaker 4: This was an extraordinary quarter. Demand has gone parabolic. The

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Speaker 4: reason is simple. Agentic AI has arrived. I can now

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Speaker 4: do productive and valuable work. Tokens are now profitable, so

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Speaker 4: model makers are an erase to produce more. In the

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Speaker 4: AI era, compute capacity is revenue and profits, and video

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Speaker 4: is the platform of this era.

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Speaker 3: Video CEO Jensen Wong says he aims to rely less

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Speaker 3: on giant data center operators and predicts other businesses and

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Speaker 3: governments will become a bigger source of revenue for the

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Speaker 3: company's chips and computing products, Paul Meeks covers in VideA

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Speaker 3: for Freedom Capital Markets.

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Speaker 5: He says he's not concerned with the numbers.

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Speaker 3: I'm not necessarily worried about what they printed or even

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Speaker 3: this guidance.

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Speaker 5: But this guidance is not disappointing.

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Speaker 6: I think it's fine because you know what, it'll be,

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Speaker 6: ninety one billion dollars and then they're going to upside

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Speaker 6: it like they always do, so this will be much

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Speaker 6: better at the end of the day than.

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Speaker 3: The whisper Paul Meeks at Freedom Capital Markets right now

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Speaker 3: in videos trading down about two tenths of one percent

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Speaker 3: pre market.

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Speaker 6: Well, Nathan, there's also a couple of high profile IPOs

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Speaker 6: on the way for investors and Bloomberg. John Tucker joins

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Speaker 6: us with the very latest John good Morning.

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Speaker 7: Good mor and Karen Elon Musk. SpaceX filed publicly for

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Speaker 7: what stands to be the largest ever initial public offering.

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Speaker 7: Filing with the SEC also reveals the company has billions

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Speaker 7: of dollars and losses and the way it's set up

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Speaker 7: right now, it would give Musk the power to outvote

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Speaker 7: anybody else and give him as many as a billion shares.

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Speaker 8: Now.

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Speaker 7: According to the filing, Musk would have to hit certain

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Speaker 7: goals for the rockets, satellite and AI company. These goals

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Speaker 7: include a human settlement on Mars with at least one

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Speaker 7: million inhabitants and oh yes, SpaceX would first have to

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Speaker 7: build data centers in space.

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Speaker 6: All right, John, Well, if that's not enough to absorb

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Speaker 6: this morning, there's another Wall Street debut that appears to

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Speaker 6: be on track as well.

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Speaker 7: Yeah, Karen, this one is OpenAI, the maker of chat gpt.

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Speaker 7: Our sources say the company aims to file for initial

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Speaker 7: public offering in the coming days or weeks as it

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Speaker 7: tries to make the transition to a for profit company. Now,

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Speaker 7: the plans are falling in place after judge dismissed Elon

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Speaker 7: Musk's legal battle against Open Ai of The decision to

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Speaker 7: push ahead with a listing this year could help it

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Speaker 7: beat its rival Anthropic to the public markets and compete

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Speaker 7: for investors. If you or come, John Tucker, Bloomberg Radio, All.

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Speaker 3: Right, John, thanks, So, Anthropic is bulling an IPO as

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Speaker 3: soon as October.

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Speaker 5: I'm the head of that.

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Speaker 3: The company's on pace for its first profitable quarter after

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Speaker 3: experiencing a surgeon revenue driven by a demand for its

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Speaker 3: artificial intelligence software. Bloomberg News has learned the cloudmaker expects

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Speaker 3: to post ten point nine billion dollars in revenue for

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Speaker 3: the second quarter, more than double the prior three month period.

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Speaker 6: Nathan, Let's get to the latest now in the war

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Speaker 6: in the Middle East, the US and Iran are trading

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Speaker 6: threats once again as the standoff over the Strait of

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Speaker 6: Horror Movez drags on. President Trump says he's in the

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Speaker 6: final stages with Iran, while warning he could resume attacks

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Speaker 6: in the coming days if it doesn't agree to his terms.

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Speaker 6: The only question is do we go and finish it

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Speaker 6: up or are they going to be signing a document.

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Speaker 5: Let's see what happens.

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Speaker 6: And that was President Trump delivering the commencement address at

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Speaker 6: the US Coast Guard Academy. We get more from Bloomberg's

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Speaker 6: Paul Wallace in Dubai.

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Speaker 9: This could be just more clustering from Donald Trump. He

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Speaker 9: has given plenty of signals that he is desperate to

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Speaker 9: sort of extricate himself in the US forces from this war,

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Speaker 9: and all signs point to him really trying to avoid

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Speaker 9: a return to hostilities given the surgeon energy prices globally.

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Speaker 6: And Bloomer's Paul Wallace reports Iran has threatened to retaliate

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Speaker 6: beyond the Middle East if the US or Israel resumes strikes.

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Speaker 6: Now this morning, around semi official students and news agency

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Speaker 6: is reporting Tehran is reviewing the latest US peace proposal

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Speaker 6: and says it's narrowed the gaps to some extent. The

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Speaker 6: report says further narrowing quote requires an end to the

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Speaker 6: temptation of war on Washington's part.

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Speaker 3: Here in the US is facing protests in Greenland's capital

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Speaker 3: as a new consulate opening fuels concerns over Washington's designs

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Speaker 3: for the island. The US will inaugurate the new consulate

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Speaker 3: building in Nuke today. It's first in Greenland since the

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Speaker 3: nineteen fifties. It marks some more permanent American presidence on

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Speaker 3: the Arctic island, where unease has grown since President Trump

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Speaker 3: revived to of acquiring the territory Nathan.

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Speaker 6: The Trump administration is putting new pressure on Cuba as

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Speaker 6: the economic standoff over the island continues. The US has

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Speaker 6: charged former Cuban president Raoul Castro with murder over the

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Speaker 6: nineteen ninety six drowning of two aircraft run by a

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Speaker 6: Florida based Cuban exile group. Four people were killed in

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Speaker 6: the incident, when the ninety four year old former president

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Speaker 6: was Cuba's defense minister, Acting Attorney General Todd Blanche announced

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Speaker 6: the indictment.

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Speaker 10: For the first time in nearly seventy years, senior leadership

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Speaker 10: of the Cuban regime has been charged in this country

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Speaker 10: in the United States of America for acts of violence

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Speaker 10: resulting in the deaths of American citizens.

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Speaker 6: The announcement by Acting Attorney General Todd Blanche could raise

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Speaker 6: speculation about military action against Cuba, like the ray that

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Speaker 6: captured Nicholas Maduro in Venezuela earlier this year. President Trump

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Speaker 6: is indicating there won't be further escalation for now.

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Speaker 3: Karen JP Morgan JA CEO Jamie Diamond is criticizing New

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Speaker 3: York's Mayor Zorn Mumdannie and his plans to slap more

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Speaker 3: taxes on the rich. In an interview with Bloomberg in Asia,

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Speaker 3: Diamond said the move risks doing further damage to the

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Speaker 3: city's business hub status.

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Speaker 11: They think that somehow being anti business is going to

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Speaker 11: help a city.

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Speaker 12: It's not.

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Speaker 5: So we all want to pay fair taxes. That's not

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Speaker 5: the point.

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Speaker 11: But at one point people owed defeat and there are

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Speaker 11: a lot of studies that have shown that all these

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Speaker 11: people moved out and they're obviously the tax obviously New

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Speaker 11: York booming, so not gonna see in this year's taxes,

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Speaker 11: but a lot of people are paying billions dollar taxes left.

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Speaker 11: Why do you want that? How does that help the

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Speaker 11: lower paid person in New York.

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Speaker 3: Jamie Diamond's comments followed a recent meeting with Mom Donnie.

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Speaker 3: He has criticized Wall Street bankers and other executives, and

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Speaker 3: is pushing for tax hikes to plug New York City's

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Speaker 3: budget shortfall. Catch the full conversation with JP Morgan's CEO

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Speaker 3: Jamie Dimond on our new video hub on the Bloomberg

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Speaker 3: Business app.

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Speaker 6: Time now for look at some of the other stories

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Speaker 6: making news in New York and around the world. For that,

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Speaker 6: we're joined by Bloomberg's Michael Barr.

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Speaker 2: Michael, Good Morning, Good morning Karen.

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Speaker 8: Two police officers who helped defend the US capital during

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Speaker 8: the January sixth riot, ares suing to block anyone from

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Speaker 8: receiving payouts from a new one point seven to seventy

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Speaker 8: six billion dollars settlement fund for people who claim to

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Speaker 8: be victims of politically motivated prosecutions. There's the possibility that

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Speaker 8: rioters who assaulted police that day would be eligible for

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Speaker 8: fund payouts. Former Capitol Police officer Harry Dunn, a co

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Speaker 8: plaintive in the lawsuit, spoke to ABC.

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Speaker 12: He's trolling us with the seventeen seventy sixth thing. He's

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Speaker 12: trying to make this some type of patriotic symbol, but

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Speaker 12: this could be the most unpatriotic thing, rewarding terrorist and insurrectionist.

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Speaker 8: Former officer Dunn is currently running for Maryland's fifth congressional

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Speaker 8: district President Trump and says the fund is needed to

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Speaker 8: help people he claims were mistreated by the Biden Justice Department.

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Speaker 3: People would destroyed they went to jail, their families.

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Speaker 8: Were But there is outrage on Capitol Hill among a

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Speaker 8: growing number of Republicans and Democrats rejecting the idea of

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Speaker 8: taxpayer payouts to rioters. The WHO says the Ebola outbreak

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Speaker 8: probably started months ago in Central Africa and spread undetected

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Speaker 8: until a super spreader event in early May, possibly a funeral. Meanwhile,

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Speaker 8: health officials gave an update on Peter stafford. The American

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Speaker 8: doctor infected it with a BOLO while working in the

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Speaker 8: Democratic Republic of Congo. Doctor setische KLi is the CDC's

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Speaker 8: incident manager for Ebola response.

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Speaker 6: The American has landed in Germany and is at the

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Speaker 6: hospital and in stable conditions.

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Speaker 8: The WHO says almost six hundred suspected cases and one

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Speaker 8: hundred and thirty nine deaths are linked to the outbreak.

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Speaker 8: We didn't need this. With millions traveling for the Memorial

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Speaker 8: Day weekend, planes were haulted after a sinkhole opened up

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Speaker 8: on the runway at New York's LaGuardia Airport. More than

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Speaker 8: two hundred flights were canceled and hundreds more delayed, shutting

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Speaker 8: down one of LaGuardia's two runways. Airport officials are rushing

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Speaker 8: to make repairs. Global news twenty four hours a day

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Speaker 8: and whenever you want it with the Bloomberg News Now

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Speaker 8: Michael Barr and this is Bloomberg Herry.

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Speaker 2: Thanks Michael.

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Speaker 6: A time now for our Bloomberg Sports updating. For that,

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Speaker 6: we bring in John Stashaur.

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Speaker 5: There's there.

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Speaker 13: In Game two of the NBA's Western Conference Finals, Victor

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Speaker 13: wembin Yama was coming off a forty two point effort

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Speaker 13: in Game one, this time half of that he scored

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Speaker 13: twenty one and the Spurs lost at Oklahoma City on

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Speaker 13: twenty two to one thirteen. The series is title one.

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Speaker 13: Game one in the West of the Stanley Cup Playoffs,

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Speaker 13: Vegas took a three nothing lead and went on to

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Speaker 13: win four two At Colorado.

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Speaker 5: Aaron Rodgers met.

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Speaker 13: The media in Pittsburgh getting ready to play for the Steelers.

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Speaker 13: He confirmed that twenty twenty six will be his final season.

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Speaker 13: That's a Bloomberg Sports fifty.

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Speaker 2: Stay with us. More from Bloomberg day Break coming up

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Speaker 2: after this.

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Speaker 1: Coast to coast on Bloomberg Radio, wide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business Apple.

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Speaker 2: This is Bloomberg Daybreak.

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Speaker 5: Good morning, I'm Nathan Hager.

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Speaker 3: Was the earning story investors awaited for weeks and it's

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Speaker 3: getting a lackluster reaction this morning. And Nvidia came out

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Speaker 3: with a revenue forecast right around the middle of Wall

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Speaker 3: Street estimates. But CEO Jensen Wong says the future is

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Speaker 3: here and his chip Giant is right where it needs

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Speaker 3: to be.

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Speaker 4: The world is rebuilding computing for agentic Ai and robotic

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Speaker 4: physical AI, and Vidia sits at the center of these transitions.

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Speaker 5: I was in Vidia CEO Jensen Wong on the company

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Speaker 5: earnings call.

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Speaker 3: Joining us this morning after is Neil Campling, senior strategist

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Speaker 3: with the Bloomberg Markets team.

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Speaker 5: Great to have you with us this morning, Neil.

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Speaker 3: So we saw the numbers in eighty five percent jump

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Speaker 3: in sales in the quarter gone by even bigger forecast

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Speaker 3: in the common quarter.

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Speaker 5: Why the lackluster reaction this morning? Good morning, Good morning.

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Speaker 14: I think is a bit of a travel and arrive

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Speaker 14: here in terms of in Video being the largest company

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Speaker 14: in the world, it's fueling obviously a entire AI ecosystem,

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Speaker 14: but investors in its very very narrow market that we've

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Speaker 14: seen in recent months in terms of their strength, It's

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Speaker 14: likely that it is as a lack of new investor

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Speaker 14: money coming into this stock itself and looking into play

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Speaker 14: the AI three through other sort of other plays in

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Speaker 14: this space. And as you mentioned, the guidance was solid,

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Speaker 14: but it was within the range of Wall Street estimates,

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Speaker 14: so it didn't surprise to the upside. There was no

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Speaker 14: mic drop moment like we had two years ago, and

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Speaker 14: it's really kind of maturing now into that mature growth

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Speaker 14: tech leader, where as we've seen before the likes of Apple.

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Speaker 14: But to grow those revenues, as you mentioned, eighty five

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Speaker 14: percent year on it is a substantial number by anyone's metrics,

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Speaker 14: but by Side has now got used to these kind

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Speaker 14: of estimates, and so we are above some of the

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Speaker 14: whisper numbers. But there are questions that analysts are now

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Speaker 14: having about the sustainability of such growth going forward, especially

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Speaker 14: in my higher competition from the likes of Google creating

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Speaker 14: their own internal chipsets in the future.

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Speaker 3: So is this a moment where the moat that in

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Speaker 3: Nvidia had built around itself when it comes to the

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Speaker 3: chips that it puts out there that they're starting to

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Speaker 3: be cracks in that molt, what can it do to

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Speaker 3: seal them?

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Speaker 14: I think the way it's looking at this now is

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Speaker 14: to extend that ecosystem into other parts of the AI market.

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Speaker 14: As you mentioned, Jensen talked last night on the call

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Speaker 14: about one hundred trillion dollars of industry that hasn't yet

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Speaker 14: but is about to be affected by AI. This is

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Speaker 14: taking the AI into the physical AI system. To you

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Speaker 14: and I, it's about in the real world and with

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Speaker 14: robotics and those kind of applications of AI. They are

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Speaker 14: diversifying into other areas of the market that could be

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Speaker 14: many times the size of existing AI infrastructure. And I

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Speaker 14: suppose the other thing to think about is that Bloomberg

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Speaker 14: News overnight had an exclusive on Anthropic. Anthropic a key

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Speaker 14: partner of in Nvidia and others. But the growth rates

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Speaker 14: that Anthropic are talking about now are ten billion dollars

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Speaker 14: in sales for this current quarter. I mean, this company

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Speaker 14: had no products less than three years ago. So in

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Speaker 14: videos helping fuel the entire agentic AI revolution that we're

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Speaker 14: witnessing today.

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Speaker 3: And the last minute I have with you, Neil, I

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Speaker 3: got to get your reaction to what we learned from

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Speaker 3: the filing of the IPO for SpaceX. Billions in losses

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Speaker 3: and some big plans from Elon Musk.

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Speaker 14: Some quite incredible statements in as one overnight, not least

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Speaker 14: the ambitions to have a one million people on Mars

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Speaker 14: in the future. But as you mentioned, the increase in

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Speaker 14: the losses is a tenfold increase of those losses to

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Speaker 14: help to sort of fund the exceptional growth trajectory and

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Speaker 14: opportunity they see in the future. It's no wonder they

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Speaker 14: need to come to the market though, because they are

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Speaker 14: burning through a lot of cash.

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Speaker 5: But yeah, we're It's.

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Speaker 14: Going to be highly anticipated and with Open Ai ananthropic

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Speaker 14: likely to come to their market as well, this year

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Speaker 14: could be a great year for ten.

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