WEBVTT - Apple's Vision Pro For Sale and Ford Cuts EV Workforce 0:00:01.639 --> 0:00:05.960 From Mahard where Innovation, Money and power Collie in Silicon 0:00:06.040 --> 0:00:06.920 Vallet NBN. 0:00:07.280 --> 0:00:20.759 This is Bloomberg Technology with Caroline Hide and Ed Ludlow. 0:00:25.840 --> 0:00:29.000 I met Ludlow in San Francisco. Caroline hides off this week. 0:00:29.280 --> 0:00:32.040 This is Bloomberg Technology coming up from the program. Apple's 0:00:32.120 --> 0:00:35.800 Vision Pro is officially for sale. We'll discuss early demand 0:00:36.000 --> 0:00:39.000 for the pricey product and why big names like Spotify, 0:00:39.120 --> 0:00:43.520 Netflix in YouTube are snubbing the device, plus Forward announcing 0:00:43.600 --> 0:00:46.040 plans for production cuts the f one to fifty lightning 0:00:46.040 --> 0:00:49.879 electric truck. More on a weakening demand picture for evs 0:00:50.080 --> 0:00:53.840 and the fourteen hundred employees impacted by that pullback, and 0:00:54.000 --> 0:00:57.240 Amazon's one point four billion dollar deal for i robot 0:00:57.560 --> 0:01:01.280 is expected to be blocked by the e use antitrust watchdog, 0:01:01.400 --> 0:01:04.760 sending shares of the rumber maker plunging. All that and 0:01:04.880 --> 0:01:07.560 so much more. Happy Friday. It is the end of 0:01:07.600 --> 0:01:09.800 a shortened week because of the US holiday. This is 0:01:09.840 --> 0:01:13.240 what financial markets look like in the technology context. And 0:01:13.240 --> 0:01:15.920 as that one hundred upper percentage point, let's be honest. 0:01:15.920 --> 0:01:18.240 The big story, the single name of the week has 0:01:18.280 --> 0:01:21.640 been Apple. Catalysts are both the upside and the downside. 0:01:21.680 --> 0:01:24.200 On a five day basis, we are up two point 0:01:24.200 --> 0:01:27.200 four percent and we're headed for our second consecutive weeks 0:01:27.200 --> 0:01:29.720 of gains. Remember, one big catalyst was Bank of America's 0:01:29.800 --> 0:01:34.280 upgrade to buy with some enthusiasm about what Vision Pro 0:01:34.400 --> 0:01:37.679 does on the hardware and services side of the top line. 0:01:37.800 --> 0:01:40.520 For Apple, you can now place a pre order for 0:01:40.520 --> 0:01:43.440 a Vision Pro. But if you go on the website, 0:01:43.520 --> 0:01:47.440 you'll notice one thing. The date of delivery is getting 0:01:47.480 --> 0:01:49.480 pushed back further and further. We have the perfect voice, 0:01:49.480 --> 0:01:53.240 Bloomberg's chief correspondent, Mark German with us. Now, let's start 0:01:53.280 --> 0:01:55.920 with the data we see in real time. If you 0:01:56.000 --> 0:01:58.760 try to orso a vision Pro, right now, what do 0:01:58.840 --> 0:01:59.320 you see? 0:02:00.480 --> 0:02:02.120 Yeah, Ed, thanks so much for having me us always. 0:02:02.120 --> 0:02:02.480 That's right. 0:02:02.520 --> 0:02:04.920 The Vision Pro went on sale for pre order this 0:02:04.960 --> 0:02:07.640 morning five am Pacific time, and right now, if you're 0:02:07.640 --> 0:02:09.919 going to place a new order, it's likely if you're 0:02:10.040 --> 0:02:12.840 doing it for an online delivery, not to come until 0:02:12.880 --> 0:02:16.480 mid March. You're seeing between March eighth and March fifteenth, 0:02:16.520 --> 0:02:19.320 for all three storage capacities two hundred and fifty six gigs, 0:02:19.400 --> 0:02:22.160 half a terabyte, and a terabyte. Now, if you're trying 0:02:22.160 --> 0:02:24.520 to do in store pickup. The first day of availability 0:02:24.560 --> 0:02:27.680 is also booked up, but depending on the sizing of 0:02:27.760 --> 0:02:29.959 the headset that you need, you do a face scan 0:02:30.040 --> 0:02:31.920 when you order it, and it gives you a custom size. 0:02:31.919 --> 0:02:34.960 There's about twenty five different sizes. You may be able 0:02:35.000 --> 0:02:37.799 to get pick up in the first couple of days availability, 0:02:37.840 --> 0:02:39.720 but for the most part, if you're doing a delivery 0:02:39.720 --> 0:02:41.560 to your home, you're not gonna be able to get 0:02:41.560 --> 0:02:42.560 one deep into March. 0:02:43.919 --> 0:02:48.440 I think that you know, we're using the delivery date 0:02:48.639 --> 0:02:51.640 as a kind of proxy for early demand, and the 0:02:51.720 --> 0:02:55.200 vision pro is going to be initially a pro like 0:02:55.400 --> 0:02:59.920 high price, point, small volume, niche product. But it does 0:03:00.120 --> 0:03:01.640 seem like there is demand there. 0:03:03.320 --> 0:03:07.240 You agree with that people are quite excited about this product. 0:03:07.280 --> 0:03:10.680 There is absolutely demand. Now, it's unclear exactly what the 0:03:10.720 --> 0:03:14.400 slips mean, right. It could be a combination of demand, 0:03:14.520 --> 0:03:18.320 a combination of supply, a combination of both. You could 0:03:18.360 --> 0:03:23.400 be seeing really low demand but really really low supply. 0:03:23.800 --> 0:03:27.200 So it's not entirely clear what it means. But based 0:03:27.200 --> 0:03:29.520 on what I'm seeing on X when I'm seeing on 0:03:29.520 --> 0:03:33.840 other social media platforms, the usual suspects, so to speak, 0:03:33.880 --> 0:03:37.600 The early adopters in the Apple community are all over 0:03:37.640 --> 0:03:42.000 this thing. I ordered one personally, as you know, I 0:03:42.200 --> 0:03:46.000 have a deep interest in Apple products. So it's people 0:03:46.160 --> 0:03:50.840 sort of in my category early adopters, big time Apple fans, 0:03:51.080 --> 0:03:53.720 people that really want to learn more about the company, 0:03:53.720 --> 0:03:56.760 that are buying misting for now, and I imagine once 0:03:57.080 --> 0:04:00.320 some tech enthusiasts start trying it in an Apple detail 0:04:00.360 --> 0:04:02.600 store storing on February second, they'll get about a twenty 0:04:02.640 --> 0:04:06.280 twenty five minute demo. You'll see sales go up as well. 0:04:06.320 --> 0:04:08.960 On that opening weekend. They'll have some inventory for non 0:04:09.360 --> 0:04:12.840 pre orders, but the company itself, they're expecting a pretty 0:04:12.840 --> 0:04:15.360 strong opening couple of weeks, but for sales to taper 0:04:15.480 --> 0:04:18.280 from there, which is what you would expect from a 0:04:18.360 --> 0:04:21.719 new major product category at this price. The people who 0:04:21.760 --> 0:04:23.800 want to buy this thing have been wanting to buy 0:04:23.839 --> 0:04:26.360 it for months now, since it was introduced in June, 0:04:26.560 --> 0:04:28.640 so they're going to get their orders in early and 0:04:28.680 --> 0:04:30.960 then it's really going to take price cuts in new 0:04:31.040 --> 0:04:34.279 generations of this product to really expand market share for 0:04:34.360 --> 0:04:36.360 Apple and the VR space and make it a real 0:04:36.400 --> 0:04:37.039 revenue maker. 0:04:37.920 --> 0:04:40.359 Right. It follows the format of the iPhone right, you 0:04:40.400 --> 0:04:42.599 have Vision Pro, but I guess we're waiting on the 0:04:42.680 --> 0:04:46.920 Vision Songs Pro at a later date. The newsflow this 0:04:46.960 --> 0:04:49.760 week has been astonishing when it comes to Apple, and 0:04:49.800 --> 0:04:52.200 in the context of Vision Pro, we did a lot 0:04:52.200 --> 0:04:58.160 of reporting about the developers or content creators that are 0:04:58.240 --> 0:05:03.520 choosing not to make a Vision Pro specific application. Tell 0:05:03.600 --> 0:05:05.200 us those names and what we've learned. 0:05:06.400 --> 0:05:09.200 Yeah, someone deeply involved in development of the product told 0:05:09.240 --> 0:05:12.440 me it's going to be the applications that make or 0:05:12.480 --> 0:05:15.680 break this product. And right now you're seeing some of 0:05:15.720 --> 0:05:19.680 the top tier platforms designing to not participate. I'll give 0:05:19.680 --> 0:05:20.840 you three names. 0:05:20.520 --> 0:05:22.960 Netflix, YouTube, and Spotify. 0:05:23.320 --> 0:05:26.719 Spotify is interesting, but you can use that through the web, 0:05:26.720 --> 0:05:29.880 and it's a music streaming service. And who really knows 0:05:30.160 --> 0:05:31.919 or cares, to be honest, if this is going to 0:05:31.960 --> 0:05:34.560 be a great platform for music listening. But Apple's really 0:05:34.800 --> 0:05:37.520 positioning this as a video and a movie watching device. 0:05:38.040 --> 0:05:40.039 And if you're not going to have YouTube or Netflix 0:05:40.080 --> 0:05:43.359 applications on here, that's a real drawback now. So they 0:05:43.440 --> 0:05:47.040 certainly have Max Disney plus Peacock. 0:05:46.960 --> 0:05:48.320 ESPN, NBA, you name it. 0:05:48.600 --> 0:05:51.400 But the two biggest streaming services in the world, right, 0:05:51.520 --> 0:05:54.280 YouTube and Netflix not being on there is a real omission, 0:05:54.279 --> 0:05:57.120 and it's potentially a problem for Apple out of the gate. Now, 0:05:57.240 --> 0:05:59.960 I have some theories as to why they're not participating. 0:06:00.640 --> 0:06:02.800 I think both are taking a wait and see approach. 0:06:02.920 --> 0:06:04.520 In the case of Netflix, maybe they don't want to 0:06:04.560 --> 0:06:08.120 prop up a rival in streaming who has Apple tv Plus. 0:06:08.520 --> 0:06:10.680 But at some point you may see enough people tell 0:06:10.720 --> 0:06:13.280 YouTube and Netflix they don't want to use their services anymore. 0:06:13.279 --> 0:06:15.560 If you're not on the Apple Vision pro, then they'll 0:06:15.600 --> 0:06:17.120 have to get on there. But I think that's going 0:06:17.200 --> 0:06:20.040 to take a while. They're okay to lose one thousand users, 0:06:20.040 --> 0:06:22.359 but if you start seeing tens of thousands of people 0:06:22.360 --> 0:06:24.920 saying we're not going to subscribe anymore over this, they'll 0:06:24.960 --> 0:06:26.560 have to make a change. But of course that's going 0:06:26.600 --> 0:06:28.680 to take many many months, if not longer. 0:06:29.760 --> 0:06:31.680 Mark. The final story I want to touch on is 0:06:31.680 --> 0:06:34.800 in the context of the European Union. But if you're 0:06:34.800 --> 0:06:37.240 an iPhone user and you go into a store or 0:06:37.440 --> 0:06:41.160 grab some food, you can pay by tapping your iPhone 0:06:41.200 --> 0:06:44.120 on the receiver. And what Apple seems to be doing 0:06:44.200 --> 0:06:48.360 now in the context of regulatory action, is opening up 0:06:48.400 --> 0:06:51.960 that technology to some of its competitors explain that one. 0:06:53.000 --> 0:06:55.400 Yeah, it's interesting. So this morning, you know, the European Union, 0:06:55.440 --> 0:06:57.640 so that Apple had agreed to open up the NFC 0:06:57.720 --> 0:07:01.359 chip to third party payment serve. So right now, that 0:07:01.480 --> 0:07:04.040 tap to pay feature you described ed only could work 0:07:04.080 --> 0:07:06.719 with Apple Pay Apple service if you're a third party, 0:07:06.720 --> 0:07:09.560 if you're a Chase, if you're an Amex, you can't 0:07:09.600 --> 0:07:12.360 integrate your own tap to pay service using that hardware 0:07:12.360 --> 0:07:16.160 component through your application. Now Apple sit there agreeing to 0:07:16.200 --> 0:07:19.080 open that up to change that. It's funny because on 0:07:19.120 --> 0:07:21.760 March seventh, they're going to be doing that anyways. Right 0:07:22.120 --> 0:07:24.360 March seventh is when the Digital Markets Actor. 0:07:24.200 --> 0:07:24.880 EO kicks in. 0:07:24.920 --> 0:07:27.600 That is a requirement of the DMA to open up 0:07:27.640 --> 0:07:30.240 things like NFC, to open up the app sort of 0:07:30.240 --> 0:07:31.520 third party billing services. 0:07:31.600 --> 0:07:32.760 Right, so Apple. 0:07:32.480 --> 0:07:35.000 Basically said they're going to be doing something that they're already 0:07:35.000 --> 0:07:38.160 planning to do in two months anyway, So not necessarily 0:07:38.200 --> 0:07:39.960 a womin here for Apple. You know, there is a 0:07:39.960 --> 0:07:42.960 scenario where they might lose a little royalty on Apple 0:07:43.000 --> 0:07:45.480 Pay because of this, but if it continues to fend 0:07:45.480 --> 0:07:48.680 off regulators and avoid multi billion dollar fines, that certainly 0:07:48.720 --> 0:07:49.920 is a positive for the company. 0:07:50.880 --> 0:07:53.480 Okay, Apple up eight ten percent in the session, up 0:07:53.480 --> 0:07:56.120 two percent on the week, And I highly recommend that 0:07:56.200 --> 0:07:58.480 you subscribe to Marks and Us there to power on 0:07:58.880 --> 0:08:01.600 because you summarize all that on a weekly basis. Bloomberg's 0:08:01.600 --> 0:08:06.000 Mark German, chief correspondent, turn into some breaking news just 0:08:06.040 --> 0:08:09.320 out on the Bloomberg terminal open. AI CEO Sam Altman 0:08:09.760 --> 0:08:13.320 is seeking billions of dollars specifically in an effort to 0:08:13.440 --> 0:08:16.720 secure supply for AI chips. It is part of a 0:08:16.720 --> 0:08:21.880 broader initiative that we're reporting here in Bloomberg myself and colleagues, 0:08:21.920 --> 0:08:25.760 including Dina Bass, that the aim is to set up 0:08:25.800 --> 0:08:32.840 a series of fabs globally plants or factories with specific 0:08:32.880 --> 0:08:36.600 dedication to capacity for these AI chips. Let's get right 0:08:36.640 --> 0:08:38.840 to Bloomberg's Dina Bass, one of the co bylines with 0:08:38.840 --> 0:08:41.760 me on this story. And Dina, you know, we've done 0:08:41.800 --> 0:08:44.560 a lot of reporting on this kind of initiative. We 0:08:44.720 --> 0:08:48.200 know that Sam Outman was looking at chips, but actually 0:08:48.520 --> 0:08:52.760 what's new here is the focus on capacity future capacity. 0:08:54.520 --> 0:08:55.280 Yes, that's right. 0:08:55.360 --> 0:08:57.760 So in the kind of week of the exam of 0:08:57.800 --> 0:09:00.880 an ouster, we you know, add you and a couple 0:09:00.920 --> 0:09:04.440 of other reporters reported this chip initiative, but I think 0:09:04.480 --> 0:09:07.200 the belief or assumption was that what open ai would 0:09:07.240 --> 0:09:09.960 be doing here similar to what Microsoft is doing, is 0:09:09.960 --> 0:09:12.840 similar to what Google does, is similar to what aws 0:09:12.840 --> 0:09:17.679 that Aprontat does, which is design their own artificial intelligence chips. 0:09:17.679 --> 0:09:20.480 In reality, what we hear from our sources is that 0:09:20.520 --> 0:09:23.800 we're often trying to address is the chip shortage, that 0:09:23.880 --> 0:09:27.720 there's not enough fabrication capacity to make enough chips. 0:09:27.720 --> 0:09:28.560 Now that's been. 0:09:28.400 --> 0:09:29.360 Going on for a while. 0:09:29.440 --> 0:09:31.880 But what open ai in m Altman want. 0:09:31.720 --> 0:09:35.240 Will address is actually not the current shortage. It's you 0:09:35.280 --> 0:09:37.640 know what our sources tell us at Veltman fears that 0:09:37.679 --> 0:09:39.720 there will be a significant shortage a couple of beers 0:09:39.720 --> 0:09:41.400 out from now. So when we come to the end 0:09:41.440 --> 0:09:45.120 of the decade, if artificial intelligence is as pervasive as 0:09:45.160 --> 0:09:48.080 s m Altman thinks it will be, if you remember, 0:09:48.120 --> 0:09:52.040 he's very focused on heading towards AGI artificial general intelligence, 0:09:52.480 --> 0:09:55.480 then there will simply not be in his view, enough 0:09:55.640 --> 0:09:58.400 processors for what he thinks is going to go on 0:09:58.440 --> 0:09:59.080 at that point. 0:10:00.280 --> 0:10:04.480 There are still many questions about how mechanically this would work. Right, 0:10:04.760 --> 0:10:07.120 you know what I'm hearing you're hearing is that there's 0:10:07.160 --> 0:10:10.360 all these talks with all kinds of investors to raise 0:10:10.880 --> 0:10:13.880 a huge sum of money, tens and tens of billions 0:10:13.880 --> 0:10:16.680 of dollars. But in reality, it's not just as simple 0:10:16.679 --> 0:10:18.720 as saying, Okay, great, we've got the funds, let's build 0:10:18.720 --> 0:10:21.720 a load of chip factories wherever we want. You know, 0:10:21.760 --> 0:10:27.200 the market is dominated by TSMC, Samsung and a hopeful 0:10:27.280 --> 0:10:30.000 newcomer and Intel. What do we know about what's on 0:10:30.040 --> 0:10:32.680 the table here in terms of the proposed way this 0:10:32.760 --> 0:10:33.319 would work. 0:10:34.440 --> 0:10:35.160 So what we're. 0:10:35.000 --> 0:10:36.760 Hearing is an otment is now on the stage of, 0:10:36.800 --> 0:10:39.160 as you see, putting together sort of a group of partners. 0:10:39.160 --> 0:10:41.280 So some of that is the capital the investors who 0:10:41.360 --> 0:10:43.280 is going to fund all of this, and some of 0:10:43.280 --> 0:10:47.839 that is talking to the existing chep fab companies. We're 0:10:47.880 --> 0:10:51.000 not you know, we're not hearing that open AI wants to, 0:10:51.280 --> 0:10:54.480 you know, start learning how to pour concrete or anything 0:10:54.640 --> 0:10:57.560 like that. This is a really complicated business with really 0:10:57.640 --> 0:11:01.080 just about three competitors in it, and you know, it 0:11:01.120 --> 0:11:03.360 takes a ton of expertise to do. So what we're 0:11:03.400 --> 0:11:06.320 hearing is that the idea would be to work with 0:11:06.520 --> 0:11:09.000 the people that know how to do this, but again 0:11:09.080 --> 0:11:12.960 to figure out a way to dramatically expand the capacity 0:11:13.120 --> 0:11:16.480 so that five years from now the industry doesn't find 0:11:16.480 --> 0:11:19.720 that it's not in a position to produce what's necessary 0:11:19.880 --> 0:11:20.840 an arm to view. 0:11:22.120 --> 0:11:28.440 I just want to relate to our audience that open Ai, Intel, SoftBank, TSMC, Microsoft, 0:11:29.200 --> 0:11:31.400 and G forty two, which is a firm that we 0:11:31.440 --> 0:11:34.640 had reported in the past wanted to give Sam Outman 0:11:34.720 --> 0:11:38.360 money for this, did not respond to Bloomboat requests to 0:11:38.400 --> 0:11:41.480 comment or decline to comment. Samsung in particular, just a 0:11:41.559 --> 0:11:44.840 key name in the fab space, didn't respond to our 0:11:44.880 --> 0:11:48.160 request for comment. But the takeaway that I have is 0:11:48.200 --> 0:11:53.200 that forget what happened with Sam Outman's short departure from 0:11:53.200 --> 0:11:56.560 open Ai and then return He's able to go out 0:11:56.600 --> 0:11:59.360 there and talk to people, raise money, and come up 0:11:59.360 --> 0:12:02.240 with these big plans, which, let's be honest, this is 0:12:02.280 --> 0:12:06.120 a bold move in the context of how chip manufacturing 0:12:06.160 --> 0:12:07.439 actually works. 0:12:08.880 --> 0:12:11.920 Right, absolutely, And he was obviously in Daubos this week, 0:12:12.000 --> 0:12:14.440 so we will see if anything comes out of any 0:12:14.480 --> 0:12:17.360 meetings there as he tries to protect together some sort 0:12:17.360 --> 0:12:21.160 of consortium behind this. You mentioned Microsoft, you know we 0:12:21.240 --> 0:12:24.520 have reported previously have reported again today that Often has 0:12:25.280 --> 0:12:28.720 help talks with Microsoft about this idea and that the 0:12:28.760 --> 0:12:32.800 software giant remains interested, you know, potentially in being being 0:12:32.800 --> 0:12:35.719 a part of it. Again, they declined to comment as well, but. 0:12:36.040 --> 0:12:37.720 You know what we're reporting. 0:12:37.720 --> 0:12:40.880 In what we're reporting, you see Sam trying to put 0:12:40.880 --> 0:12:43.720 together the pieces of what he would need to do this, 0:12:43.880 --> 0:12:46.680 to put together financial backing. As we mentioned in the story, 0:12:46.720 --> 0:12:50.280 they're also been talking with soft Bank and to put 0:12:50.320 --> 0:12:55.160 together the expertise around Chippan manufacturing. And as you said, 0:12:55.160 --> 0:12:57.840 this is a this is a much more dramatic initiative, 0:12:57.880 --> 0:13:02.839 and there's various forecasts for the AI chip field. You know, 0:13:02.880 --> 0:13:04.920 there are some people who feel that there will might 0:13:04.920 --> 0:13:07.360 be enough, and there are some people that feel that 0:13:07.440 --> 0:13:11.240 the industry is on a trajectory to increase the number 0:13:11.400 --> 0:13:13.000 of AI chips that are manufactured. 0:13:13.040 --> 0:13:16.640 That will be just fine, And the reality is that 0:13:16.679 --> 0:13:19.320 will will be fun right, And all I was saying 0:13:19.320 --> 0:13:21.520 is that what we're reporting, the reality of is that 0:13:21.559 --> 0:13:24.520 it's the world's leading AI company trying to have a 0:13:24.559 --> 0:13:26.640 more direct control over its supply chain. 0:13:26.960 --> 0:13:29.439 For one of a better summary, Bloombostina Bass great to 0:13:29.480 --> 0:13:32.240 work with you on this story. Thanks for joining the show. Now, 0:13:32.240 --> 0:13:35.080 another story that we're tracking is Forward. It says it's 0:13:35.080 --> 0:13:37.280 going to reduce the number of workers that are making 0:13:37.320 --> 0:13:40.320 its F one fifty lightning truck, and that is due 0:13:40.320 --> 0:13:44.599 to demand for electric vehicles weakening. About fourteen hundred employees 0:13:44.640 --> 0:13:47.200 will be impacted that work on the assembly lines for 0:13:47.360 --> 0:13:49.160 F one to fifty lightning. I want to bring in 0:13:49.200 --> 0:13:52.760 my friend and colleague, Keith Norton out of Detroit, and Keith, 0:13:53.120 --> 0:13:55.560 you know this is directly linked to what we already knew. 0:13:55.720 --> 0:13:58.680 The F one fifty lightning production this year will be 0:13:58.800 --> 0:14:03.080 half what for previously estimated. But just explain mechanics of 0:14:03.080 --> 0:14:04.200 how they're carrying that out. 0:14:05.240 --> 0:14:08.120 Yeah, So they are, as you said, eliminating fourteen hundred 0:14:08.120 --> 0:14:12.400 people at the foin fifty lightning plant. Interestingly, and seven 0:14:12.480 --> 0:14:15.520 hundred of them will move over to an internal combustion 0:14:15.600 --> 0:14:19.840 engine plant here in Detroit that builds the Ford Bronco 0:14:20.040 --> 0:14:25.200 suv and Ranger pickup truck because those traditional gas fueled 0:14:25.240 --> 0:14:28.040 vehicles are selling very well. So they're adding a third 0:14:28.080 --> 0:14:31.200 crew to that plant while going down to one shift 0:14:31.680 --> 0:14:34.240 at the lightning plant. It really does reflect on this 0:14:34.360 --> 0:14:38.640 weakening demand that we're seeing for electric vehicles. Sales of 0:14:38.720 --> 0:14:42.960 electric vehicles are still up, but their growth has slowed dramatically. 0:14:43.080 --> 0:14:46.080 UBS sees their growth at about eleven percent. 0:14:45.800 --> 0:14:46.840 In the US this year. 0:14:47.240 --> 0:14:50.400 Last year, electric vehicle sales grew by forty seven percent. 0:14:51.200 --> 0:14:55.440 And therein is the story, right Keith, that you know 0:14:55.520 --> 0:14:58.840 they're saying they're still demand globally, it's just even less 0:14:58.880 --> 0:15:01.720 than are already load exptions. And at the same time, 0:15:02.080 --> 0:15:03.680 we've got to make sure we build enough of our 0:15:03.720 --> 0:15:07.800 popular combustion engine cars. Tell us that the summary of 0:15:07.840 --> 0:15:10.320 the EV story with Forward, all I see is lightning, 0:15:10.520 --> 0:15:13.720 and all I see is Marqi, n Okay transit. What 0:15:13.800 --> 0:15:15.760 are their bigger picture plans from this point? You and 0:15:15.800 --> 0:15:18.200 I did a lot of reporting on that historically, but 0:15:18.360 --> 0:15:20.720 things kind of seem a bit stale. 0:15:21.840 --> 0:15:25.200 Yeah, So what they have is their first Gen EV 0:15:25.600 --> 0:15:29.200 vehicles out there, which you know arrived, as you recall 0:15:29.360 --> 0:15:32.160 ed with a lot of fanfare, but they've really slowed. 0:15:32.160 --> 0:15:35.840 They've also cut production of the Mustang Maqui. There's incentives 0:15:35.880 --> 0:15:39.280 on that. Now they're really talking up their next Gen 0:15:39.480 --> 0:15:43.440 EV vehicles, which will be ground up electric vehicles with 0:15:43.520 --> 0:15:48.000 all kinds of digital capabilities that are, you know, to 0:15:48.080 --> 0:15:52.520 be discovered by consumers, but they promised they'll be very exciting, 0:15:52.800 --> 0:15:55.880 but those are still a ways away twenty twenty five, 0:15:56.000 --> 0:15:58.880 twenty twenty six, and that's one of the reasons uvs 0:15:58.920 --> 0:16:02.480 actually cut forward week to hold from buy. They feel 0:16:02.480 --> 0:16:05.440 like the payoff fund forwards EV strategy is going to 0:16:05.480 --> 0:16:06.560 take longer than expected. 0:16:07.440 --> 0:16:10.360 All right, Bloomber's Keith Norton on the Auto beat, Adam Detroit. 0:16:10.360 --> 0:16:12.360 It's great to catch up. Thanks for joining the program. 0:16:12.600 --> 0:16:15.400 They're coming up here on Bloomberg Technology, and all European 0:16:15.440 --> 0:16:18.840 commercial crew is on its way to the International Space Station, 0:16:18.960 --> 0:16:22.400 the first time that all the seats are occupied by Europeans. 0:16:22.440 --> 0:16:25.520 We're gonna have those details coming up next. I'm also 0:16:25.560 --> 0:16:28.760 taking a look at shares of AMD. We're currently up 0:16:29.240 --> 0:16:32.080 three and a half percent in the session. AMD pushing 0:16:32.640 --> 0:16:35.560 fresh record highs and what's so interesting about it is 0:16:35.600 --> 0:16:40.720 its outperformance relative to Nvidia. They closed a record high Thursday. 0:16:41.040 --> 0:16:45.440 The momentum in that stock continues. It's a twelve percent 0:16:45.520 --> 0:16:47.160 gain on the week. And this is a name that 0:16:47.240 --> 0:16:50.080 in the next couple of weeks reports earnings. What are 0:16:50.080 --> 0:16:53.240 we looking for? I three hundred x the AI accelerator. 0:16:53.440 --> 0:16:55.200 What do we want to know? How many of them 0:16:55.200 --> 0:16:57.600 are they really selling in the real world. But investors 0:16:57.600 --> 0:17:00.040 seem really bullish around this name as one of the 0:17:00.080 --> 0:17:02.960 picks and shovels, as Karro calls it in the AI space. 0:17:03.320 --> 0:17:25.480 This is Bloomberg Technology three two one significant bid for power. 0:17:32.080 --> 0:17:36.040 They're on the way SpaceX rocket blasting off yesterday carrying 0:17:36.440 --> 0:17:40.359 the first all European commercial crew to the International Space Station. 0:17:40.440 --> 0:17:43.800 It's a landmark mission for europe space industry, which frankly 0:17:43.840 --> 0:17:47.080 has been struggling to get off the ground due to 0:17:47.119 --> 0:17:49.639 a number of delays on the launch system side. I 0:17:49.720 --> 0:17:53.560 want to bring in Bloomberg Space correspondent Lauren Grush. You know, 0:17:53.640 --> 0:17:57.480 this is kind of business is normal for SpaceX, for Axiom, 0:17:57.680 --> 0:18:00.560 It's an important moment with an all europe And crew 0:18:00.840 --> 0:18:04.960 and for commercial spaceflight also important. Just give us the 0:18:05.000 --> 0:18:06.080 basics of this mission. 0:18:07.119 --> 0:18:10.520 Sure, So this is actually the third mission for Axiom Space, 0:18:10.600 --> 0:18:13.120 which is a company based in Houston hoping to build 0:18:13.160 --> 0:18:17.160 their own private space stations in the future, and basically 0:18:17.200 --> 0:18:19.760 these missions that they've been doing with SpaceX. They held 0:18:19.840 --> 0:18:21.879 a contract to do a number of these missions to 0:18:21.920 --> 0:18:25.160 the International Space Station. They're a bit like practice missions 0:18:25.160 --> 0:18:28.639 pre cruiser missions to an Axiom has its own private 0:18:28.680 --> 0:18:31.840 space station orbit which it's hoping to launch this decade, 0:18:31.880 --> 0:18:34.400 So this is giving them kind of a dress rehearsal 0:18:34.720 --> 0:18:37.360 for when they send humans to their own station one day. 0:18:38.200 --> 0:18:40.160 What you said is really interesting. I kind of see 0:18:40.160 --> 0:18:43.919 the mission as as more evidence or momentum of the 0:18:43.960 --> 0:18:48.040 public sector space agencies handing over to the private sector 0:18:48.320 --> 0:18:49.879 to get this done. And you know that I love 0:18:49.920 --> 0:18:53.520 the numbers, right, SpaceX charges like what fifty five million 0:18:53.560 --> 0:18:56.880 dollars a seat to carry people up. And then the 0:18:56.880 --> 0:19:00.000 idea is that Axiom wants to be like the travel operator, 0:19:00.600 --> 0:19:02.800 you know, the broker, the middle man. Is Is that 0:19:02.840 --> 0:19:03.520 a good summary? 0:19:04.280 --> 0:19:07.560 That's essentially what's happening with these axiomissions. And then eventually, 0:19:07.600 --> 0:19:10.120 you know, they'll move to their own space station. But yes, 0:19:10.280 --> 0:19:15.199 the idea is to eventually transfer kind of the or 0:19:15.200 --> 0:19:17.919 give the keys over to the commercial space industry. You know, 0:19:18.000 --> 0:19:21.960 right now the main destination for astronauts in lower orbit 0:19:22.359 --> 0:19:25.280 is the International Space Station, which is overseen by NASA. 0:19:25.640 --> 0:19:27.960 But you know, eventually the space station will have to 0:19:28.000 --> 0:19:31.399 come down. It's destined to stay up until the end 0:19:31.440 --> 0:19:34.760 of the decade, but the idea is eventually private space 0:19:34.760 --> 0:19:38.160 stations will take over what the International Space Station has 0:19:38.320 --> 0:19:42.240 provided for astronauts, and Axiom Space hopes to be one 0:19:42.240 --> 0:19:44.920 of those companies to take over the reins when the 0:19:45.280 --> 0:19:47.560 space station has to eventually come to its end. 0:19:48.400 --> 0:19:50.320 Lauren, real quick. I know you cannot be in two 0:19:50.400 --> 0:19:52.680 places at once, but while we speak, there's a key 0:19:53.119 --> 0:19:56.760 lunar mission being carried out by Japan Space Agency. Just 0:19:56.800 --> 0:19:59.760 give us a quick summary of what's happening above our heads. 0:20:00.400 --> 0:20:03.920 Yes, so, this morning Japan attempted to land its first 0:20:04.280 --> 0:20:07.040 probe on the service of the Moon, and we. 0:20:06.840 --> 0:20:08.360 Were kind of left in a. 0:20:08.320 --> 0:20:11.399 State of ambiguity when they said that it landed, but 0:20:11.440 --> 0:20:14.359 they could not confirm the status of the lander. I 0:20:14.359 --> 0:20:17.200 believe we just got confirmation that it did indeed land. 0:20:17.240 --> 0:20:19.600 They secured a signal, but are not sure if it's 0:20:19.640 --> 0:20:23.240 generating power with its solar panels, which is not necessarily 0:20:23.240 --> 0:20:25.600 a good sign. I believe there is a press conference 0:20:25.680 --> 0:20:28.240 going on as we speak, so maybe we can get 0:20:28.280 --> 0:20:29.960 more details once I sign off. 0:20:29.800 --> 0:20:34.520 Here from Planet Earth. For all views on space, Bloomberg's 0:20:34.520 --> 0:20:36.480 Louren Brush it's great to have you on the program. 0:20:36.800 --> 0:20:39.840 Next week, the story is all about earnings and into 0:20:39.880 --> 0:20:43.040 that valuations are high and expectations are high. How does 0:20:43.080 --> 0:20:46.600 AI God, that's a lot, isn't it factor in to 0:20:46.840 --> 0:20:49.919 that equation? Next week in the newsflow too clear, movers 0:20:49.960 --> 0:20:52.240 I wrote out down twenty seven percent. Amazon is hired 0:20:52.280 --> 0:20:57.639 by half a percentage point. Bloomberg reporting that according to sources, 0:20:58.119 --> 0:21:02.040 the EU will move to block the one point four 0:21:02.080 --> 0:21:07.160 billion dollar acquisition by Amazon of I Robot because they 0:21:07.160 --> 0:21:10.479 have not offered remedies and they've not addressed the EUS 0:21:10.560 --> 0:21:13.600 concerns with arguments. And what's interesting about this. Ten days 0:21:13.640 --> 0:21:17.399 ago the EU Competition Chief, Margaret a vest There joined 0:21:17.400 --> 0:21:20.000 me here in this studio, and at that time we 0:21:20.040 --> 0:21:22.840