WEBVTT - Single Best Idea with Tom Keene: Joumanna Bercetche and Heath Terry

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news single best idea, well

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<v Speaker 1>two best ideas, a set of conversations we're having around

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<v Speaker 1>this news flow around are some of our fears, if

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<v Speaker 1>you will, is just extraordinary. I just insisted that she

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<v Speaker 1>come on today. It's late in her day. Jumana Barcecchi

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<v Speaker 1>of Horizons in Dubai has been a shining light out

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<v Speaker 1>on Twitter and LinkedIn. She's been absolutely extraordinary. First of

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<v Speaker 1>her day, midnight our time in New York. She will

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<v Speaker 1>begin Bloomberg's coverage of this war. Brosecchi.

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<v Speaker 2>When we look back in the history books, we'll look

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<v Speaker 2>back at this war when it eventually does come to

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<v Speaker 2>an end. One of the bright products is going to

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<v Speaker 2>be that, you know, the GCC as a whole country

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<v Speaker 2>seems to be navigating their own path forward, and the

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<v Speaker 2>UAE in the past week have very clearly defined to

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<v Speaker 2>the world the axis and the sort of path that

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<v Speaker 2>they want to lay out for themselves. And it's not

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<v Speaker 2>necessarily being part of that Arab League or necessarily part

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<v Speaker 2>of the Arab multilateral organizations, because the feeling is that

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<v Speaker 2>those organizations are not doing enough for the UAE. And

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<v Speaker 2>then now they have a real possibility to carve their

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<v Speaker 2>own future that perhaps is separate to other Arab states.

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<v Speaker 1>A local look at Dubai are Jumana Persachi of Horizons

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<v Speaker 1>with us as well today from City Group, as Heath Terry,

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<v Speaker 1>he goes back decades in the coverage of technology. As

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<v Speaker 1>Paul Sweeney mentioned, one of the founding people to cover

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<v Speaker 1>Google a long time ago. Heath kit Terry is incredibly current.

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<v Speaker 1>It's City Group in this time of hyper scalers. Let's listen.

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<v Speaker 3>This is a it will touch everything kind of technology.

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<v Speaker 3>As far as the trade goes the AI, the AI trade,

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<v Speaker 3>it's still very much infrastructure.

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<v Speaker 2>Right.

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<v Speaker 3>We're talking about seven hundred and ten billion dollars worth

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<v Speaker 3>of infrastructure being built this year. We're talking about that

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<v Speaker 3>number getting to two point one trillion and our estimates

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<v Speaker 3>by twenty by twenty thirty, so there's still massive growth

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<v Speaker 3>just on the infrastructure. This is I've said this on

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<v Speaker 3>your show before, Tom. This is the biggest transfer of

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<v Speaker 3>economics within an industry that we have ever seen before.

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<v Speaker 3>We are taking ninety percent incremental margin dollars out of software,

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<v Speaker 3>out of Internet, out of information services, and.

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<v Speaker 1>We're moving those into.

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<v Speaker 3>AI, which has roughly fifty percent incremental margin dollars now,

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<v Speaker 3>and that forty percent delta is going to infrastructure.

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<v Speaker 1>That is not the railroads of eighteen eighty, nineteen hundred,

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<v Speaker 1>nineteen twenty and out of the success of the thirties

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<v Speaker 1>and forties. Heath Terry with City Group on podcasts. We're

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<v Speaker 1>at Spotify and Apple on YouTube podcasts. It's single best idea,

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<v Speaker 1>sen