Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
Speaker 2: are the stories we're following today.
Speaker 3: Well, Caern, we begin with the lukewar market reaction. We're
Speaker 3: seeing to another blowout from Nvidia. Sales at the world's
Speaker 3: most valuable company gained eighty five percent to eighty one
Speaker 3: point six billion dollars in the latest quarter, and in
Speaker 3: Vidio forecast sales in the coming quarter of about ninety
Speaker 3: one billion and also boosted its quarterly dividend and announced
Speaker 3: an eighty billion dollars stock buyback. And Video CEO Jensen
Speaker 3: Wong says he expects demand to come from ordinary businesses
Speaker 3: outside the tech sector.
Speaker 4: This was an extraordinary quarter. Demand has gone parabolic. The
Speaker 4: reason is simple. Agentic AI has arrived. I can now
Speaker 4: do productive and valuable work. Tokens are now profitable, so
Speaker 4: model makers are an erase to produce more. In the
Speaker 4: AI era, compute capacity is revenue and profits, and video
Speaker 4: is the platform of this era.
Speaker 3: Video CEO Jensen Wong says he aims to rely less
Speaker 3: on giant data center operators and predicts other businesses and
Speaker 3: governments will become a bigger source of revenue for the
Speaker 3: company's chips and computing products, Paul Meeks covers in VideA
Speaker 3: for Freedom Capital Markets.
Speaker 5: He says he's not concerned with the numbers.
Speaker 3: I'm not necessarily worried about what they printed or even
Speaker 3: this guidance.
Speaker 5: But this guidance is not disappointing.
Speaker 6: I think it's fine because you know what, it'll be,
Speaker 6: ninety one billion dollars and then they're going to upside
Speaker 6: it like they always do, so this will be much
Speaker 6: better at the end of the day than.
Speaker 3: The whisper Paul Meeks at Freedom Capital Markets right now
Speaker 3: in videos trading down about two tenths of one percent
Speaker 3: pre market.
Speaker 6: Well, Nathan, there's also a couple of high profile IPOs
Speaker 6: on the way for investors and Bloomberg. John Tucker joins
Speaker 6: us with the very latest John good Morning.
Speaker 7: Good mor and Karen Elon Musk. SpaceX filed publicly for
Speaker 7: what stands to be the largest ever initial public offering.
Speaker 7: Filing with the SEC also reveals the company has billions
Speaker 7: of dollars and losses and the way it's set up
Speaker 7: right now, it would give Musk the power to outvote
Speaker 7: anybody else and give him as many as a billion shares.
Speaker 8: Now.
Speaker 7: According to the filing, Musk would have to hit certain
Speaker 7: goals for the rockets, satellite and AI company. These goals
Speaker 7: include a human settlement on Mars with at least one
Speaker 7: million inhabitants and oh yes, SpaceX would first have to
Speaker 7: build data centers in space.
Speaker 6: All right, John, Well, if that's not enough to absorb
Speaker 6: this morning, there's another Wall Street debut that appears to
Speaker 6: be on track as well.
Speaker 7: Yeah, Karen, this one is OpenAI, the maker of chat gpt.
Speaker 7: Our sources say the company aims to file for initial
Speaker 7: public offering in the coming days or weeks as it
Speaker 7: tries to make the transition to a for profit company. Now,
Speaker 7: the plans are falling in place after judge dismissed Elon
Speaker 7: Musk's legal battle against Open Ai of The decision to
Speaker 7: push ahead with a listing this year could help it
Speaker 7: beat its rival Anthropic to the public markets and compete
Speaker 7: for investors. If you or come, John Tucker, Bloomberg Radio, All.
Speaker 3: Right, John, thanks, So, Anthropic is bulling an IPO as
Speaker 3: soon as October.
Speaker 5: I'm the head of that.
Speaker 3: The company's on pace for its first profitable quarter after
Speaker 3: experiencing a surgeon revenue driven by a demand for its
Speaker 3: artificial intelligence software. Bloomberg News has learned the cloudmaker expects
Speaker 3: to post ten point nine billion dollars in revenue for
Speaker 3: the second quarter, more than double the prior three month period.
Speaker 6: Nathan, Let's get to the latest now in the war
Speaker 6: in the Middle East, the US and Iran are trading
Speaker 6: threats once again as the standoff over the Strait of
Speaker 6: Horror Movez drags on. President Trump says he's in the
Speaker 6: final stages with Iran, while warning he could resume attacks
Speaker 6: in the coming days if it doesn't agree to his terms.
Speaker 6: The only question is do we go and finish it
Speaker 6: up or are they going to be signing a document.
Speaker 5: Let's see what happens.
Speaker 6: And that was President Trump delivering the commencement address at
Speaker 6: the US Coast Guard Academy. We get more from Bloomberg's
Speaker 6: Paul Wallace in Dubai.
Speaker 9: This could be just more clustering from Donald Trump. He
Speaker 9: has given plenty of signals that he is desperate to
Speaker 9: sort of extricate himself in the US forces from this war,
Speaker 9: and all signs point to him really trying to avoid
Speaker 9: a return to hostilities given the surgeon energy prices globally.
Speaker 6: And Bloomer's Paul Wallace reports Iran has threatened to retaliate
Speaker 6: beyond the Middle East if the US or Israel resumes strikes.
Speaker 6: Now this morning, around semi official students and news agency
Speaker 6: is reporting Tehran is reviewing the latest US peace proposal
Speaker 6: and says it's narrowed the gaps to some extent. The
Speaker 6: report says further narrowing quote requires an end to the
Speaker 6: temptation of war on Washington's part.
Speaker 3: Here in the US is facing protests in Greenland's capital
Speaker 3: as a new consulate opening fuels concerns over Washington's designs
Speaker 3: for the island. The US will inaugurate the new consulate
Speaker 3: building in Nuke today. It's first in Greenland since the
Speaker 3: nineteen fifties. It marks some more permanent American presidence on
Speaker 3: the Arctic island, where unease has grown since President Trump
Speaker 3: revived to of acquiring the territory Nathan.
Speaker 6: The Trump administration is putting new pressure on Cuba as
Speaker 6: the economic standoff over the island continues. The US has
Speaker 6: charged former Cuban president Raoul Castro with murder over the
Speaker 6: nineteen ninety six drowning of two aircraft run by a
Speaker 6: Florida based Cuban exile group. Four people were killed in
Speaker 6: the incident, when the ninety four year old former president
Speaker 6: was Cuba's defense minister, Acting Attorney General Todd Blanche announced
Speaker 6: the indictment.
Speaker 10: For the first time in nearly seventy years, senior leadership
Speaker 10: of the Cuban regime has been charged in this country
Speaker 10: in the United States of America for acts of violence
Speaker 10: resulting in the deaths of American citizens.
Speaker 6: The announcement by Acting Attorney General Todd Blanche could raise
Speaker 6: speculation about military action against Cuba, like the ray that
Speaker 6: captured Nicholas Maduro in Venezuela earlier this year. President Trump
Speaker 6: is indicating there won't be further escalation for now.
Speaker 3: Karen JP Morgan JA CEO Jamie Diamond is criticizing New
Speaker 3: York's Mayor Zorn Mumdannie and his plans to slap more
Speaker 3: taxes on the rich. In an interview with Bloomberg in Asia,
Speaker 3: Diamond said the move risks doing further damage to the
Speaker 3: city's business hub status.
Speaker 11: They think that somehow being anti business is going to
Speaker 11: help a city.
Speaker 12: It's not.
Speaker 5: So we all want to pay fair taxes. That's not
Speaker 5: the point.
Speaker 11: But at one point people owed defeat and there are
Speaker 11: a lot of studies that have shown that all these
Speaker 11: people moved out and they're obviously the tax obviously New
Speaker 11: York booming, so not gonna see in this year's taxes,
Speaker 11: but a lot of people are paying billions dollar taxes left.
Speaker 11: Why do you want that? How does that help the
Speaker 11: lower paid person in New York.
Speaker 3: Jamie Diamond's comments followed a recent meeting with Mom Donnie.
Speaker 3: He has criticized Wall Street bankers and other executives, and
Speaker 3: is pushing for tax hikes to plug New York City's
Speaker 3: budget shortfall. Catch the full conversation with JP Morgan's CEO
Speaker 3: Jamie Dimond on our new video hub on the Bloomberg
Speaker 3: Business app.
Speaker 6: Time now for look at some of the other stories
Speaker 6: making news in New York and around the world. For that,
Speaker 6: we're joined by Bloomberg's Michael Barr.
Speaker 2: Michael, Good Morning, Good morning Karen.
Speaker 8: Two police officers who helped defend the US capital during
Speaker 8: the January sixth riot, ares suing to block anyone from
Speaker 8: receiving payouts from a new one point seven to seventy
Speaker 8: six billion dollars settlement fund for people who claim to
Speaker 8: be victims of politically motivated prosecutions. There's the possibility that
Speaker 8: rioters who assaulted police that day would be eligible for
Speaker 8: fund payouts. Former Capitol Police officer Harry Dunn, a co
Speaker 8: plaintive in the lawsuit, spoke to ABC.
Speaker 12: He's trolling us with the seventeen seventy sixth thing. He's
Speaker 12: trying to make this some type of patriotic symbol, but
Speaker 12: this could be the most unpatriotic thing, rewarding terrorist and insurrectionist.
Speaker 8: Former officer Dunn is currently running for Maryland's fifth congressional
Speaker 8: district President Trump and says the fund is needed to
Speaker 8: help people he claims were mistreated by the Biden Justice Department.
Speaker 3: People would destroyed they went to jail, their families.
Speaker 8: Were But there is outrage on Capitol Hill among a
Speaker 8: growing number of Republicans and Democrats rejecting the idea of
Speaker 8: taxpayer payouts to rioters. The WHO says the Ebola outbreak
Speaker 8: probably started months ago in Central Africa and spread undetected
Speaker 8: until a super spreader event in early May, possibly a funeral. Meanwhile,
Speaker 8: health officials gave an update on Peter stafford. The American
Speaker 8: doctor infected it with a BOLO while working in the
Speaker 8: Democratic Republic of Congo. Doctor setische KLi is the CDC's
Speaker 8: incident manager for Ebola response.
Speaker 6: The American has landed in Germany and is at the
Speaker 6: hospital and in stable conditions.
Speaker 8: The WHO says almost six hundred suspected cases and one
Speaker 8: hundred and thirty nine deaths are linked to the outbreak.
Speaker 8: We didn't need this. With millions traveling for the Memorial
Speaker 8: Day weekend, planes were haulted after a sinkhole opened up
Speaker 8: on the runway at New York's LaGuardia Airport. More than
Speaker 8: two hundred flights were canceled and hundreds more delayed, shutting
Speaker 8: down one of LaGuardia's two runways. Airport officials are rushing
Speaker 8: to make repairs. Global news twenty four hours a day
Speaker 8: and whenever you want it with the Bloomberg News Now
Speaker 8: Michael Barr and this is Bloomberg Herry.
Speaker 2: Thanks Michael.
Speaker 6: A time now for our Bloomberg Sports updating. For that,
Speaker 6: we bring in John Stashaur.
Speaker 5: There's there.
Speaker 13: In Game two of the NBA's Western Conference Finals, Victor
Speaker 13: wembin Yama was coming off a forty two point effort
Speaker 13: in Game one, this time half of that he scored
Speaker 13: twenty one and the Spurs lost at Oklahoma City on
Speaker 13: twenty two to one thirteen. The series is title one.
Speaker 13: Game one in the West of the Stanley Cup Playoffs,
Speaker 13: Vegas took a three nothing lead and went on to
Speaker 13: win four two At Colorado.
Speaker 5: Aaron Rodgers met.
Speaker 13: The media in Pittsburgh getting ready to play for the Steelers.
Speaker 13: He confirmed that twenty twenty six will be his final season.
Speaker 13: That's a Bloomberg Sports fifty.
Speaker 2: Stay with us. More from Bloomberg day Break coming up
Speaker 2: after this.
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Speaker 2: This is Bloomberg Daybreak.
Speaker 5: Good morning, I'm Nathan Hager.
Speaker 3: Was the earning story investors awaited for weeks and it's
Speaker 3: getting a lackluster reaction this morning. And Nvidia came out
Speaker 3: with a revenue forecast right around the middle of Wall
Speaker 3: Street estimates. But CEO Jensen Wong says the future is
Speaker 3: here and his chip Giant is right where it needs
Speaker 3: to be.
Speaker 4: The world is rebuilding computing for agentic Ai and robotic
Speaker 4: physical AI, and Vidia sits at the center of these transitions.
Speaker 5: I was in Vidia CEO Jensen Wong on the company
Speaker 5: earnings call.
Speaker 3: Joining us this morning after is Neil Campling, senior strategist
Speaker 3: with the Bloomberg Markets team.
Speaker 5: Great to have you with us this morning, Neil.
Speaker 3: So we saw the numbers in eighty five percent jump
Speaker 3: in sales in the quarter gone by even bigger forecast
Speaker 3: in the common quarter.
Speaker 5: Why the lackluster reaction this morning? Good morning, Good morning.
Speaker 14: I think is a bit of a travel and arrive
Speaker 14: here in terms of in Video being the largest company
Speaker 14: in the world, it's fueling obviously a entire AI ecosystem,
Speaker 14: but investors in its very very narrow market that we've
Speaker 14: seen in recent months in terms of their strength, It's
Speaker 14: likely that it is as a lack of new investor
Speaker 14: money coming into this stock itself and looking into play
Speaker 14: the AI three through other sort of other plays in
Speaker 14: this space. And as you mentioned, the guidance was solid,
Speaker 14: but it was within the range of Wall Street estimates,
Speaker 14: so it didn't surprise to the upside. There was no
Speaker 14: mic drop moment like we had two years ago, and
Speaker 14: it's really kind of maturing now into that mature growth
Speaker 14: tech leader, where as we've seen before the likes of Apple.
Speaker 14: But to grow those revenues, as you mentioned, eighty five
Speaker 14: percent year on it is a substantial number by anyone's metrics,
Speaker 14: but by Side has now got used to these kind
Speaker 14: of estimates, and so we are above some of the
Speaker 14: whisper numbers. But there are questions that analysts are now
Speaker 14: having about the sustainability of such growth going forward, especially
Speaker 14: in my higher competition from the likes of Google creating
Speaker 14: their own internal chipsets in the future.
Speaker 3: So is this a moment where the moat that in
Speaker 3: Nvidia had built around itself when it comes to the
Speaker 3: chips that it puts out there that they're starting to
Speaker 3: be cracks in that molt, what can it do to
Speaker 3: seal them?
Speaker 14: I think the way it's looking at this now is
Speaker 14: to extend that ecosystem into other parts of the AI market.
Speaker 14: As you mentioned, Jensen talked last night on the call
Speaker 14: about one hundred trillion dollars of industry that hasn't yet
Speaker 14: but is about to be affected by AI. This is
Speaker 14: taking the AI into the physical AI system. To you
Speaker 14: and I, it's about in the real world and with
Speaker 14: robotics and those kind of applications of AI. They are
Speaker 14: diversifying into other areas of the market that could be
Speaker 14: many times the size of existing AI infrastructure. And I
Speaker 14: suppose the other thing to think about is that Bloomberg
Speaker 14: News overnight had an exclusive on Anthropic. Anthropic a key
Speaker 14: partner of in Nvidia and others. But the growth rates
Speaker 14: that Anthropic are talking about now are ten billion dollars
Speaker 14: in sales for this current quarter. I mean, this company
Speaker 14: had no products less than three years ago. So in
Speaker 14: videos helping fuel the entire agentic AI revolution that we're
Speaker 14: witnessing today.
Speaker 3: And the last minute I have with you, Neil, I
Speaker 3: got to get your reaction to what we learned from
Speaker 3: the filing of the IPO for SpaceX. Billions in losses
Speaker 3: and some big plans from Elon Musk.
Speaker 14: Some quite incredible statements in as one overnight, not least
Speaker 14: the ambitions to have a one million people on Mars
Speaker 14: in the future. But as you mentioned, the increase in
Speaker 14: the losses is a tenfold increase of those losses to
Speaker 14: help to sort of fund the exceptional growth trajectory and
Speaker 14: opportunity they see in the future. It's no wonder they
Speaker 14: need to come to the market though, because they are
Speaker 14: burning through a lot of cash.
Speaker 5: But yeah, we're It's.
Speaker 14: Going to be highly anticipated and with Open Ai ananthropic
Speaker 14: likely to come to their market as well, this year
Speaker 14: could be a great year for ten.
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Speaker 2: I'm Karen Moscow.
Speaker 3: And I'm Nathan Hager. Join us again tomorrow morning. For
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