Speaker 1: Bloomberg Audio, Studios, Podcasts, Radio News. Good morning, I'm Nathan
Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're
Speaker 1: following today.
Speaker 2: Karen, we begin with the latest reaction to those highly
Speaker 2: anticipated earnings from Nvidia. The shares are down more than
Speaker 2: four percent in early trading. The AI juggernaut met or
Speaker 2: beat analyst's estimates on nearly every measure, but Nvidia investors
Speaker 2: have grown accustomed to blowout quarters, and the latest numbers
Speaker 2: did not qualify. Moreover, in Vidia's next big cash cow,
Speaker 2: the new Blackwell processor lineup, has proven more challenging to
Speaker 2: manufacture than anticipated. In Vidia CEO Jensen Wong spoke with
Speaker 2: Bloomberg's Ed Ludlow after the company conference call.
Speaker 3: We're expecting Q three to have more supply than Q two,
Speaker 3: We're expecting Q four to have more supply than Q three,
Speaker 3: and we're expecting Q one to have more supply than
Speaker 3: Q four, and so I think our supply, our supply
Speaker 3: condition going into next year will be in will be
Speaker 3: a large improvement over this last year.
Speaker 2: In Nvidia CEO Jensen Wong says third quarter revenue will
Speaker 2: be about thirty two and a half billion dollars. Analysts
Speaker 2: had predicted thirty one point nine billion on average, but
Speaker 2: the estimates ranged as high as thirty seven point nine billion.
Speaker 1: Well, Nathan reaction is still pouring into the Nvidia results
Speaker 1: and Jensen Wong interview. Man Deep Singh is a senior
Speaker 1: tech analyst with the Bloomberg Intelligence.
Speaker 4: It's still a very solid growth story, but when it
Speaker 4: comes to convincing investors that there are more catalysts for
Speaker 4: upside relative to where expectations are, I think a lot
Speaker 4: of it right now is dependent on how the industry
Speaker 4: actually deploys Generator AI. That's what Jensen highlighted that look,
Speaker 4: jenai is transformational. It's changing how compute is done and
Speaker 4: everyone will use it.
Speaker 1: Bloomberg Intelligence senior tech analyst man Deep Singh notes that
Speaker 1: most of Nvidia's growth comes from a small group of customers.
Speaker 1: About forty percent stems from a large data center operators,
Speaker 1: companies like alphabet s, Google and Facebook parent meta platforms.
Speaker 2: And we're going to have much more coverage of the
Speaker 2: Nvidia story in a few minutes. Will bring you more
Speaker 2: from our conversation with the CEO, Jensen Wong, and that
Speaker 2: will be followed by analysis from web Bush Security senior
Speaker 2: equity research analyst Dan ives Well.
Speaker 1: Nathan and Video is not the only stock on the
Speaker 1: move this morning following earning. Several other high tech results
Speaker 1: came in after the bell as well, and we get
Speaker 1: the latest with Bloomberg's John Tucker, John and.
Speaker 5: Karen CrowdStrike shares down over two percent pre market trading.
Speaker 5: The security software company cutting it's full your forecast. However,
Speaker 5: some analysts of the reduction better than feared. This comes
Speaker 5: in the wake of the CrowdStrike update. You'll remember that
Speaker 5: crash computers worldwide last month, Salesforce gave an earnings forecast
Speaker 5: the top analyst estimate's the top maker of customer management
Speaker 5: software who's been trying to deal with activist investors. The
Speaker 5: company says new higher price products with AR are just
Speaker 5: starting to help boot sales. They're getting a popped this
Speaker 5: morning of almost five percent, and finally, hp ticker simple
Speaker 5: HPQ down close to two and a half percent. They're
Speaker 5: cutting their full year profit outlook. That's because of a
Speaker 5: continued downturn in its printing unit. John Tucker, Bloomberg Radio.
Speaker 2: All right, John, thanks for also watching. Shares of super
Speaker 2: micro Computer. They're down nearly five percent in early trading
Speaker 2: that follows yesterday's nineteen percent plunge. Super Micro says it's
Speaker 2: delaying filing its annual financial disclosures and will need more
Speaker 2: time to assess its internal controls. This ten k delay
Speaker 2: erased more than eight hundred million dollars from super Micro
Speaker 2: chairman Charles Leang's net worth. In fact, his fortune is
Speaker 2: slumped by nearly two thirds from its March high.
Speaker 1: Well, we turn to the economy now, Nathan, as investors
Speaker 1: all waited another key inflation rating tomorrow, the Personal Consumption
Speaker 1: Expenditures price index. A top FED official is cautioning about
Speaker 1: moving too fast on rate cuts. Atlanta FED President Raphael
Speaker 1: Bostik says he's still looking for additional data before he'll
Speaker 1: support lowering interest rates next month.
Speaker 6: I don't want us to be in a situation where
Speaker 6: we cut and then we have to raise rates again.
Speaker 6: Like that would be a very bad outcome. It would
Speaker 6: really undermine all the conference I was talking about.
Speaker 1: People have it. Speaking at the Stanford Club of Georgia,
Speaker 1: Atlanta FED President Rafael Bostik reiterated that his timeline for
Speaker 1: cuts had moved up after inflation fell more quickly than
Speaker 1: he expected, and the unemployment rate increased more rapidly, but
Speaker 1: he's still cautious.
Speaker 2: So now two geopolitics Karen a major development overseas. White
Speaker 2: House National Security Advisor Jake Sullivan is wrapping up his
Speaker 2: three day trip to China with a visit with the
Speaker 2: President Chi Jinping. It is the first time Sullivan's held
Speaker 2: one to one talks with the Chinese leader. It comes
Speaker 2: hours after his first face to face with the top
Speaker 2: Chinese general. Bloomberg's Gill Deesis is in Hong Kong. She
Speaker 2: says the goal of Sullivan's trip is to set up guardrails.
Speaker 7: There's just a lot of uncertainty too going into the
Speaker 7: US election later this year as who exactly will be
Speaker 7: the leader after that that you're probably looking at this
Speaker 7: attempt by the Biden administration to kind of future proof
Speaker 7: ties with China or at least stabilize relations heading into
Speaker 7: that election.
Speaker 2: Bloombergs Jill Lisis reporting from Hong Kong. Earlier, Sullivan discussed
Speaker 2: setting up a call between presidents she and Biden with
Speaker 2: the Chinese Foreign Minister Wangi.
Speaker 1: Now let's get to the latest and the presidential race.
Speaker 1: Nathan Democrat Kamala Harris is on her second day of
Speaker 1: a two day bus tour through Georgia. She's heading through
Speaker 1: rural areas with a focus on shoring up support among
Speaker 1: black men. Harris is also getting ready for her first
Speaker 1: interview since taking the nomination on CNN tonight, and we
Speaker 1: get more from Bloomberg's Julie Fine.
Speaker 8: It's a very high stakes moment for her, and she's
Speaker 8: also taking some criticism because she's not doing the interview alone.
Speaker 8: She is doing it with Tim Walls. However, at the
Speaker 8: end of the day, she is going to be the
Speaker 8: one that has to answer the questions, even if he's
Speaker 8: just sitting right beside her. So it's high stakes. It's
Speaker 8: the first time it is that situation. It is a
Speaker 8: one on two.
Speaker 1: Bloomberg's July Fine reports the Harris campaign is brushing off
Speaker 1: the criticism, saying former President Trump has also done joint
Speaker 1: interviews with his running mate jd Vance. Tonight's interview airs
Speaker 1: at nine pm Wall Street Time on CNN. But it's
Speaker 1: time now for a look at some of the other
Speaker 1: stories making news in New York and around the world,
Speaker 1: and for that we're joined by Bloomberg's Michael Barr Michael,
Speaker 1: Good morning.
Speaker 9: Good morning, Karen. The listeria outbreak from Bor's Head Deli
Speaker 9: meat has been linked to fifty seven illnesses in eighteen
Speaker 9: states and the deaths of nine people, including two in
Speaker 9: New York and New Jersey. Carshawn Morgenstein says his father,
Speaker 9: a Holocaust survivor, was in good health until he says
Speaker 9: his dad got listeria after eating tainted liverwurst. Morgenstein says
Speaker 9: the infection led to meningitis and brain damage, and.
Speaker 10: He always a lunch meet, always boores Head.
Speaker 11: We're all still in shock for all of the things
Speaker 11: you know that he's seen and been through in his life.
Speaker 9: The CDC Warren's customers may still have tainted meat in
Speaker 9: their fridge with best by dates through October. A Nevada
Speaker 9: jury has found a democratic former Las Vegas area politician
Speaker 9: guilty of murdering an investigative journalists who wrote articles critical
Speaker 9: of his conduct in office. After deliberating for almost twelve hours,
Speaker 9: the jury found Robert Tellis guilty of murdering Jeff German
Speaker 9: of the Las Vegas Review Journal. Clark County District Attorney
Speaker 9: Steve Wolfson says the jury sent a clear message.
Speaker 12: Did any attempts to silence the media or to silence
Speaker 12: or intimidate a journalist will not be tolerated. That's what
Speaker 12: occurred in this case.
Speaker 9: Clark County District Attorney Steve Wolfson jurors set tell Us
Speaker 9: his sentence at twenty years to life in prison, tell
Speaker 9: Us tonight killing German, and instead blamed a broad conspiracy
Speaker 9: of people for framing him. It won't end tomorrow. That's
Speaker 9: according to the Israel Defense Force. Of the raids in
Speaker 9: the West Bank, the IDF is calling it a counter
Speaker 9: terrorism operation. The Palestinian Health Ministry says the raids that
Speaker 9: began Wednesday have left at least eleven people dead. New
Speaker 9: York City Mayor Eric Adams announced significant progress in his
Speaker 9: war on illegal smoke shops. The mayor used a crane
Speaker 9: to move the more than four tons of seased cannabis
Speaker 9: products that were destroyed in an incinerator at a facility
Speaker 9: in Westbury, Nassau County. Back in May, New York City
Speaker 9: launched a crackdown on the sale of illegal cannabis products.
Speaker 13: What we have accomplished is exactly what we knew we
Speaker 13: could accomplish with the right insight. And the right focus
Speaker 13: and determination. A thousand shops were closed.
Speaker 9: The crackdown involves a joint law enforcement effort including the NYPD,
Speaker 9: the New York City Sheriff, and other agencies. Global news
Speaker 9: twenty four hours a day and whenever you want it
Speaker 9: with the Bloomberg News.
Speaker 10: Now.
Speaker 9: I'm Michael Barr, and this is Bloomberg.
Speaker 12: Karen.
Speaker 1: All right, Michael Barr, thank you time now for the
Speaker 1: Bloomberg Sports UF date with John Stashauer.
Speaker 14: John, good morning, Good morning, Karen. Mets and Phoenix. They
Speaker 14: fell behind four nothingk Corbyn, Carrol homerd Off, Luis seven Reno.
Speaker 14: The Mets rally tied the game fifth in ety two
Speaker 14: onunch shot for Harrison Vader. They went up five to
Speaker 14: four of the six, but in the eighth Carol with
Speaker 14: a grand slam of Edwin Diaz. Arizona one eight to
Speaker 14: five and Atlanta keeps winning five one at Minnesota in
Speaker 14: the bras are four games ahead of the Mets. Second
Speaker 14: straight night, Yankees couldn't muster much offense. A night after
Speaker 14: losing four to two, they fell five to two. Carlos
Speaker 14: Raddon gave up a first stunning homer to National's rookie
Speaker 14: Dylan Cruz, second pick the last year's draft, his first
Speaker 14: big leaguemer Rendon gave up two in the first and
Speaker 14: two more in the second. The Yanks stranded eight in
Speaker 14: their attempt to come back. Here's Aaron Boone.
Speaker 11: Didn't do enough last two nights, just pushing runs across
Speaker 11: and so lost the series. So you know, tough one,
Speaker 11: you know, regrouping off day and curators started a little
Speaker 11: quick three to day or but just one of those
Speaker 11: days where weren't able to just finish off some rallies.
Speaker 14: Juan Soto back where he used to play. He had
Speaker 14: his worst series, zero for twelve, only drew one walk.
Speaker 14: Aaron Judges did drive in a run last night, but
Speaker 14: he did not homer in the series. Baltimore lost to
Speaker 14: the Dodgers six to four. Yanks remained game ahead. Red
Speaker 14: Sox shoutout Toronto three nothing. Battle of Division leaders, Houston
Speaker 14: blank the Phillies ten to nothing. Jordan Alvarez hit three
Speaker 14: home runs and a wild one. In Pittsburgh, the Pirates
Speaker 14: led the Cubs ten to three, and the seventh inning.
Speaker 14: Cups scored eleven times in their last three at bats.
Speaker 14: They won fourteen to ten. US Open last night eas
Speaker 14: he wins for Coco Goff and no back Jokobitch. Earlier sixteen,
Speaker 14: Andre and Rubleev came back from a two set deficit
Speaker 14: to win. Third round begins today, so does the season
Speaker 14: ending Tour Championship Golf in Atlanta, thirty player field. By Sunday,
Speaker 14: there'll be a f X champ who gets twenty five million.
Speaker 14: Pittsburgh Steelers named Russell Wilson their Week one starting quarterback.
Speaker 14: You beat out Justin Fields. Patriots coach Drive Mayo says
Speaker 14: he'll name his daughter today. John stash I went Bloomberg Sports.
Speaker 10: Karen Nathan all.
Speaker 15: Right, John, thank you well.
Speaker 1: If you're listening to us in Boston, our new home
Speaker 1: beginning September third is going to be on ninety two
Speaker 1: nine FM, That is the day after Labor Day. This
Speaker 1: coming Tuesday, Bloomberg Radio moving to ninety two nine FM
Speaker 1: in Boston.
Speaker 10: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 10: and around the world on Bloomberg dot Com and the
Speaker 10: Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm
Speaker 10: Nathan Hager.
Speaker 2: We continue our coverage of chip giant Nvidia the earnings
Speaker 2: report that Wall Street had been waiting for pretty much
Speaker 2: all quarter long. The AI chip giant delivered an underwhelming
Speaker 2: forecast and disappointed with news that it's still ironing out
Speaker 2: production issues with its new US chips. Bloomberg's at Ludlow
Speaker 2: spoke with the CEO of Nvidia, Jensen Wong, and they
Speaker 2: began by discussing those issues with Blackwell. We now bring
Speaker 2: you part of that discussion.
Speaker 3: We made a mass change to improve the yield. Functionality
Speaker 3: of Blackwell is wonderful. We're sampling Blackwell all over the
Speaker 3: world today. We show people giving tours to people of
Speaker 3: the Blackwall systems that we have up and running.
Speaker 15: You could find pictures of Blackwell.
Speaker 3: Systems all over the web. We have started volume production.
Speaker 3: Volume production will ship in Q four. Q four, we
Speaker 3: will have billions of dollars of Blackwell revenues and.
Speaker 15: We will ramp from there. We will ramp from there.
Speaker 15: The demand for.
Speaker 3: Blackwell far exceeds its supply, of course in the beginning,
Speaker 3: because the demand is so great, but we're going to
Speaker 3: have lots and lots of supply and we will be
Speaker 3: able to ramp starting in Q four. We have billions
Speaker 3: of dollars of revenues, and we'll remp from there into
Speaker 3: Q one into Q two and two next year. We're
Speaker 3: going to have a great next year as well.
Speaker 16: Jensen, what is the demand for accelerated computing beyond the
Speaker 16: hyperscalers and.
Speaker 3: Meta hyperscalers represent about forty five percent of our total
Speaker 3: data center business.
Speaker 15: We're relatively diversified today.
Speaker 3: We have hyperscalers, we have Internet service providers, we have
Speaker 3: sovereign ais, we have industries enterprises, so it's fairly fairly
Speaker 3: diversified a site outside of hyperscalers. The other fifty five percent, Now,
Speaker 3: the application use across all of that, all of that
Speaker 3: data center starts with accelerated computing. Accelerated computing does everything,
Speaker 3: of course, from well the models the things that we
Speaker 3: know about, which is generative AI and that gets most
Speaker 3: of the attention. But at the core we also do
Speaker 3: database processing, pre and post processing of data before you
Speaker 3: use it for generative AI, trans coding, scientific simulations, computer
Speaker 3: graphics of course, image processing of course, and so there's
Speaker 3: tons of applications that people use are accelerated computing for, and.
Speaker 15: One of them is generative AI. And so let's see
Speaker 15: what else can I say, I think that's that.
Speaker 16: Let jump in Jensen please on sovereign AI. You and
Speaker 16: I've talked about that before, and it was so interesting
Speaker 16: to hear something behind it that in this fiscal year
Speaker 16: there will be low double digit I think you said
Speaker 16: billions of dollars in sovereign AI sales. But to the
Speaker 16: lay person, what does that mean? It means deals with
Speaker 16: specific governments, if so.
Speaker 15: Were, it's not necessarily.
Speaker 3: Sometimes it deals with a particular regional service provider that's
Speaker 3: been funded by the government, and oftentimes that's the case
Speaker 3: in a case of In the case of Japan, for example,
Speaker 3: the Japanese government came out and offered UH subsidies of
Speaker 3: a couple of billion dollars I think for several different
Speaker 3: internet companies and telcos to be able to fund their
Speaker 3: AI infrastructure. India has a sovereign AI initiative going and
Speaker 3: they're building their AI infrastructure. Canada, the UK, France, Italy,
Speaker 3: I'm missing somebody, Singapore, Malaysia, Uh.
Speaker 15: You know a large.
Speaker 3: Number of countries are subsidizing their regional data centers so
Speaker 3: that they could become able to build out their AI infrastructure.
Speaker 3: They recognize that their country's knowledge, their country's data. Digital
Speaker 3: data is also their natural resource, not just the land
Speaker 3: they're sitting on, not just the air above them. But
Speaker 3: they realize now that their digital knowledge is part of
Speaker 3: their natural and national resource, and they had to harvest
Speaker 3: that and process that and transform it into their national
Speaker 3: digital intelligence.
Speaker 15: And so this is what we call sovereign AI.
Speaker 3: You could imagine almost every single country in the world
Speaker 3: will eventually recognize this and build out their AI infrastructure.
Speaker 16: Jensen, you use the word resource, and that makes me
Speaker 16: think about the energy requirements here. I think on the
Speaker 16: cool you talk about how the next generation models will
Speaker 16: have many orders of magnitude greater compute needs. But how
Speaker 16: will the energy needs increase and what is the advantage
Speaker 16: you feel in Vidia has in that sense.
Speaker 3: Well, the most important thing that we do is increase
Speaker 3: the performance of and increase the performance and efficiency of
Speaker 3: our next generation. So Blackwell is many times more performance
Speaker 3: than Hopper at the same level of power used, and
Speaker 3: so that's energy efficiency, more performance with the same amount
Speaker 3: of power or same performance at a lower power And
Speaker 3: that's number one.
Speaker 15: And the second is using LUCA cooling.
Speaker 3: We support air, we support air cooling, we support liqual cooling,
Speaker 3: but liqual cooling is a lot more energy efficient, and
Speaker 3: so the combination of all of that, you're going to
Speaker 3: get a pretty large, pretty large step up. But the
Speaker 3: important thing to also realize is that AI doesn't really
Speaker 3: care where it goes to school, and so increasingly we're
Speaker 3: going to see AI be trained somewhere else, have that
Speaker 3: model come back and be used near the population, or
Speaker 3: even running on your PC or your phone.
Speaker 15: And so we're going.
Speaker 3: To train large models, but the goal is not to
Speaker 3: run the large models necessarily all the time.
Speaker 15: You can, you can surely do that for some.
Speaker 3: Of the premium services and the very high value AIS,
Speaker 3: but it's very likely that these large models would then
Speaker 3: help to train and teach smaller models, and what we'll
Speaker 3: end up doing is have one large a few large
Speaker 3: models that are able to train a whole bunch of
Speaker 3: small models.
Speaker 15: And they run everywhere.
Speaker 2: That was the CEO of Nvidia, Jensen Wong, speaking with
Speaker 2: Bloomberg's Ed Ludlow following the company's earnings. You can catch
Speaker 2: the entire interview on the Bloomberg Talks podcast. Subscribe to
Speaker 2: download this and all our high profile conversations on Apple,
Speaker 2: Spotify or anywhere else you get your podcasts and for
Speaker 2: more and what we've heard from Nvidia and the stock reaction.
Speaker 2: We are joined now by Dan Ives, senior equity research
Speaker 2: analysts at web Bush Securities. Dan, good morning. I know
Speaker 2: you've been out front for quite some time as one
Speaker 2: of the leading bulls on the what you've been calling
Speaker 2: the AI tech revolutionist industrial revolution, I think is how
Speaker 2: you've termed it. After what we heard from the CEO,
Speaker 2: Jensen Wong, do you have any reservations now?
Speaker 17: I mean, Nata, I'm more bullish today than I probably
Speaker 17: was twenty four hours ago, becure, and I actually in
Speaker 17: the Fox should be up, not down, but because of
Speaker 17: the underlying demand. I mean, you know Jensen talked out
Speaker 17: with the little of the Ludwell interview. That's the key here,
Speaker 17: demand surgeon on the enterprise, the outlook for next quarter,
Speaker 17: maybe on the hair and miss whispers. I think it's
Speaker 17: conservative and they're going to continue to beat that number.
Speaker 17: Blackwell issues I think are a lot so in my opinion,
Speaker 17: this is actually an affirmation of the bullish AI pieces.
Speaker 2: Does Nvidia need to be more specific though on where
Speaker 2: that demand is coming from and how much demand it's
Speaker 2: expecting going forward.
Speaker 17: Look, I think the numbers speak to themselves. I mean,
Speaker 17: this is his store in terms of what we're seeing
Speaker 17: from a demand perspective. And I think the conference call
Speaker 17: last night solidified this is not stub ordering, this is
Speaker 17: not hype. This is a fourth and ducal revolution that's
Speaker 17: playing out right now, being led by godfather of AI,
Speaker 17: Jensen and Nvidios.
Speaker 2: He said that he's expecting billions of dollars in revenue
Speaker 2: from the Blackwell chips. A lot of analysts on the
Speaker 2: call were looking for more specificity on that as well.
Speaker 2: How much are you expecting that the Blackwell chips could
Speaker 2: generate in terms of monetizing AI.
Speaker 17: From everything we're seeing, its tens of billions, not billions.
Speaker 17: And who Look, Jensen is a He's a Grand Master
Speaker 17: World Series poker player. He's not going to reveal his playbook,
Speaker 17: nor should he. But when you and I think this
Speaker 17: is important for the rest of tech, there's a multiplier.
Speaker 17: For every dollar spend in videoship, we've eaten ten dollars
Speaker 17: for the rest of tech. I believe tech should be
Speaker 17: up today relative to everything we heard. That I think
Speaker 17: keeps his tech well market going higher.
Speaker 2: Are you going to be reducing your outlook for where
Speaker 2: the revenue goes as far as not just in Vidio,
Speaker 2: but other AI players moving forward. Now that we have
Speaker 2: gotten something of a less than powerhouse outlook from Nvidia
Speaker 2: this time around, Yeah, and that.
Speaker 17: Would be the initial nature. But I think, I mean,
Speaker 17: you know, we talked on your show after Apple's Worldwide
Speaker 17: Developer Conference. At that point, the stock was one ninety,
Speaker 17: sentiment was negative. Here it is two and a half
Speaker 17: months later, stocks two twenty six, and the sentiments chem drastically.
Speaker 17: I think it's going to be a similar dynamic within
Speaker 17: Vidio over the coming days and weeks. But again, the bears,
Speaker 17: they've been negative on this for the last year and
Speaker 17: it's a historic run, and I think they'll continue to
Speaker 17: be negative. Trying to grasp the straws.
Speaker 2: How important is it going to be for Nvidia to
Speaker 2: grow its customer base beyond the hyperscalers, beyond companies like
Speaker 2: meta platforms, to get into, you know, something that Ed
Speaker 2: Ludlow has been focusing on pretty closely, sovereign AI government,
Speaker 2: something that Jensen Wang himself has said that he's going
Speaker 2: to be focusing on, you know, as early as February.
Speaker 17: Yeah, look, and I think twenty maybe thirty percent of
Speaker 17: what's called a trillion dollars of AI cap ax will
Speaker 17: be the tech players. And you've already seen that all
Speaker 17: the story for Meta, Theamazon, all the Hyperscaros do books,
Speaker 17: but government, the rest of enterprise, that's what's still on
Speaker 17: the comp We only have three percent of enterprises that
Speaker 17: have actually even started to go down the AI journey.
Speaker 17: That's why to get out the popcorn moment. This is
Speaker 17: lebron in high school before we went to the NBA.
Speaker 2: But is our tech company is going to be able
Speaker 2: to sustain the kind of spending that they've been doing
Speaker 2: to scale up their AI play?
Speaker 17: Well, it's really the ROI. And I think what we're
Speaker 17: seeing what use cases and talunteer service now you know,
Speaker 17: I think Salesforce and others, is that it's really just
Speaker 17: started to the rois there. And I there's the big
Speaker 17: thing that Jensen talked about. They are seeing the ROI.
Speaker 17: And as you come to see the ROI, that's going
Speaker 17: to be the next step. And this season not even
Speaker 17: just started Apple with iPhone sixteen, which would be the
Speaker 17: consumer AI revolution.
Speaker 2: Are you concerned at all about the delays that we've
Speaker 2: seen in the next generation Blackwell chips and the trouble
Speaker 2: that Jensen Wang has acknowledged that he's had getting them
Speaker 2: to perform the way they need to.
Speaker 17: I think that they actually put those concerns to rest
Speaker 17: last night. I mean they were concerned that that could
Speaker 17: be called one two, three billion and moved back, and
Speaker 17: they actually put those concerns to rest. So I actually
Speaker 17: think black Well issues put the rest outlook robust, and
Speaker 17: then when you look over all at these numbers, I
Speaker 17: mean this should be criticizing Djokovic for losing one game
Speaker 17: of one set in the US.
Speaker 2: Open, got about a minute left. Dan, I think one
Speaker 2: of the last times we spoke, you said that it
Speaker 2: was about nine pm in an Ai party. That's going
Speaker 2: into the early morning hours. What time is it for
Speaker 2: you in the Ai story now?
Speaker 17: I mean, especially in text run out from then, I'd
Speaker 17: say nine to thirty ten pm to where this is filk.
Speaker 17: Is there going to be glass in the dance floor?
Speaker 17: Does the music stop? Every once in a while we
Speaker 17: saw Tokyo Black Monday. Yeah, this is going to four
Speaker 17: am in terms of the party, and it's ten pm
Speaker 17: not either.
Speaker 2: This is Bloomberg day Break Today, your morning brief on
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