1 00:00:02,520 --> 00:00:07,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:18,720 Speaker 1: Let's take a look at some stocks in the move today. 5 00:00:18,840 --> 00:00:19,920 Speaker 2: It's just John all. 6 00:00:19,920 --> 00:00:25,400 Speaker 1: Right, Let's start with this. Google researchers they have they 7 00:00:25,440 --> 00:00:27,560 Speaker 1: say they found a way to allow more efficient use 8 00:00:27,600 --> 00:00:31,159 Speaker 1: of storage needed for AI development. All has to do 9 00:00:31,200 --> 00:00:36,159 Speaker 1: with compression. That compression thingy. Google said the turbo quant 10 00:00:36,200 --> 00:00:39,760 Speaker 1: technology can cut the amount of memory required to run 11 00:00:39,920 --> 00:00:43,879 Speaker 1: large language models by at least a factor of six, 12 00:00:44,479 --> 00:00:49,040 Speaker 1: so this would reduce the overall cost of training artificial intelligence. 13 00:00:49,520 --> 00:00:54,240 Speaker 1: Investors harbor some concerns that it could reduce hyperscaler's need 14 00:00:54,560 --> 00:00:57,480 Speaker 1: for memory, and you're seeing that play out in some 15 00:00:57,560 --> 00:01:02,880 Speaker 1: of the stocks like the morning like Micron Technology and 16 00:01:03,200 --> 00:01:06,800 Speaker 1: Sandis Corporation. Now Morgan Stanley analyst Sean cam writes in 17 00:01:06,880 --> 00:01:09,640 Speaker 1: a note, the impact on the industry should be more 18 00:01:09,920 --> 00:01:14,080 Speaker 1: positive because eventually it affects a critical bottleneck and improves 19 00:01:14,120 --> 00:01:17,360 Speaker 1: the efficiency of what's known as the key value cache 20 00:01:17,959 --> 00:01:21,319 Speaker 1: used for inference running AI models. Like a lot of 21 00:01:21,319 --> 00:01:24,400 Speaker 1: the bulls in the AI industry and the analyst community. 22 00:01:24,600 --> 00:01:28,160 Speaker 1: He cites the theory known as Jevons paradox. This is 23 00:01:28,160 --> 00:01:32,360 Speaker 1: the concept from It's a concept from an English economist 24 00:01:32,440 --> 00:01:36,360 Speaker 1: that had to do with coal, saying the more efficient 25 00:01:36,400 --> 00:01:40,080 Speaker 1: technology becomes, the more demand is going to rise. That 26 00:01:40,160 --> 00:01:44,000 Speaker 1: was during the Industrial Revolution. Interesting. Yeah, Tom remembers that 27 00:01:45,120 --> 00:01:49,680 Speaker 1: insurance is not boring. Echodle Holdings and Corbridge Financial set 28 00:01:49,720 --> 00:01:52,640 Speaker 1: to merge in an all stock deal. This value is 29 00:01:52,680 --> 00:01:56,080 Speaker 1: the combined business at twenty two billion dollars, so the 30 00:01:56,120 --> 00:02:00,360 Speaker 1: retirement asset and wealth management giant would be called SABLE 31 00:02:00,640 --> 00:02:03,840 Speaker 1: and manage one and a half trillion dollars in assets 32 00:02:03,880 --> 00:02:06,720 Speaker 1: with more than twelve million customers. So I guess they're 33 00:02:06,720 --> 00:02:10,480 Speaker 1: getting rid of the Corbridge name anyway. The Corbridge CEO, 34 00:02:10,720 --> 00:02:12,880 Speaker 1: Mark Constantini, is going to be head of the combined 35 00:02:12,919 --> 00:02:17,960 Speaker 1: to entity. Equitable's Mark Pearson will become the executive chairman. 36 00:02:18,560 --> 00:02:22,320 Speaker 1: Corbridge had a market value of about twelve billion dollars 37 00:02:22,360 --> 00:02:26,040 Speaker 1: as the closing yesterday. Equitable had a market cap about 38 00:02:26,080 --> 00:02:29,799 Speaker 1: eleven billions, so the deal expected to close by the 39 00:02:29,960 --> 00:02:33,000 Speaker 1: end of this year, and following the deal, Corbridge expects 40 00:02:33,040 --> 00:02:36,400 Speaker 1: to transfer about one hundred billion dollars of assets to 41 00:02:36,480 --> 00:02:37,800 Speaker 1: Alliance Bernstein. 42 00:02:38,040 --> 00:02:38,239 Speaker 2: Yeah. 43 00:02:38,400 --> 00:02:43,040 Speaker 1: Now we're talking the investment manager majority owned by Equitable, 44 00:02:44,080 --> 00:02:47,440 Speaker 1: and you want to bankers on that deal. Sacks advising 45 00:02:47,480 --> 00:02:50,200 Speaker 1: Equitable and Morgan Stanley advising Corbridge to the blue bloods 46 00:02:50,240 --> 00:02:52,680 Speaker 1: getting what's their take on this? Do you suppose I mean, 47 00:02:52,680 --> 00:02:54,760 Speaker 1: it's not too shabby that banking fees. 48 00:02:55,320 --> 00:02:57,880 Speaker 2: Oh, they'll get a nice This is a nice. 49 00:02:58,160 --> 00:02:59,960 Speaker 1: You want to advise the seller, you get a hire 50 00:03:00,080 --> 00:03:03,079 Speaker 1: fief advising a seller. I haven't to check the league 51 00:03:03,200 --> 00:03:06,240 Speaker 1: tables in a while. I got to do that. Pony 52 00:03:06,360 --> 00:03:10,760 Speaker 1: Ai tick your symbol po n y delivering its first 53 00:03:11,080 --> 00:03:15,120 Speaker 1: profitable quarter. But here's a bit of a rub. The 54 00:03:15,120 --> 00:03:18,799 Speaker 1: profits not from its main robotaxi business. It's actually from 55 00:03:18,800 --> 00:03:22,560 Speaker 1: one of the early investments, net income reaching seventy five 56 00:03:22,600 --> 00:03:25,639 Speaker 1: point five million dollars, revenue climbing twenty percent for the 57 00:03:25,720 --> 00:03:29,840 Speaker 1: year to ninety million dollars. The investment game wasn't specified, 58 00:03:30,000 --> 00:03:34,320 Speaker 1: but the pony Ai unit was an early investor in 59 00:03:34,400 --> 00:03:38,200 Speaker 1: the chip designer More Threads, and they had a bang 60 00:03:38,280 --> 00:03:41,960 Speaker 1: up quarter. Pony Ai has set a goal of deploying 61 00:03:42,360 --> 00:03:48,040 Speaker 1: robotaxis with partners in more than twenty cities worldwide this year. 62 00:03:48,760 --> 00:03:50,560 Speaker 1: They did say late last year they planned to grow 63 00:03:50,600 --> 00:03:53,920 Speaker 1: their global feet fleet to three thousand. This year, pony 64 00:03:54,000 --> 00:03:59,320 Speaker 1: Ai and Uber started testing delivery driver lest cars in 65 00:03:59,360 --> 00:04:02,600 Speaker 1: places like Croatia, expanding their partnership. 66 00:04:03,480 --> 00:04:07,720 Speaker 2: The Stockmover's Report from Bloomberg Radio. Check back with us 67 00:04:07,720 --> 00:04:10,520 Speaker 2: throughout the day for the latest roundup of companies making 68 00:04:10,600 --> 00:04:14,200 Speaker 2: news on Wall Street and for the latest market moving headlines. 69 00:04:14,440 --> 00:04:18,440 Speaker 2: Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg 70 00:04:18,480 --> 00:04:21,560 Speaker 2: dot com, and on Applecarplay and Android Auto with the 71 00:04:21,600 --> 00:04:22,960 Speaker 2: Bloomberg Business app.