WEBVTT - SpaceX Could File an IPO By End of the Week 0:00:02.520 --> 0:00:13.360 Bloomberg Audio Studios, podcasts, radio news. Bloomberg Tech is live 0:00:13.400 --> 0:00:17.200 from coast to coast with Caroline Hyde in New York 0:00:17.480 --> 0:00:19.440 and ever though in sent Francisco. 0:00:23.880 --> 0:00:26.960 This is Bloomberg Tech Live from Washington. Coming up, arm 0:00:27.000 --> 0:00:30.240 announces plans to sell its own chips for the first time, 0:00:30.640 --> 0:00:32.879 with Meta as the first major customer. 0:00:33.040 --> 0:00:36.680 Plus space stocks on the move after reports that SpaceX 0:00:36.720 --> 0:00:39.840 aims the file of prospect us for an IPO as soon. 0:00:39.720 --> 0:00:42.560 As this week, and kind of Perkins makes its largest 0:00:42.680 --> 0:00:45.640 raise ever three point five billion dollars. We'll discuss next 0:00:45.640 --> 0:00:47.080 with partner Ilia. 0:00:46.800 --> 0:00:50.400 Fishman, but first we check in on these public markets 0:00:50.560 --> 0:00:53.479 and what volatility we have experienced today. We're at one 0:00:53.479 --> 0:00:55.760 point two percent, let's call it on the nasat one hundred. 0:00:56.440 --> 0:00:59.120 Video on the lead got many of the real tech 0:00:59.200 --> 0:01:03.080 and growth named surging on hope that c SPA talks 0:01:03.120 --> 0:01:06.119 can start between Iran and the United States, even though 0:01:06.120 --> 0:01:08.679 in Ran pushes back on that. Great crude down three 0:01:08.720 --> 0:01:10.800 point eight percent and we're still above one hundred dollars, 0:01:10.840 --> 0:01:13.520 But this topic front and center at this year's Hill 0:01:13.560 --> 0:01:16.520 and Valley Forum and Blomberg Senior Tech Editor Mike Sheppard 0:01:16.920 --> 0:01:19.720 I'm pleased to say has the latest for US. Look, 0:01:20.280 --> 0:01:24.039 there seems to be caution necessary because Iran's saying, no, thanks, 0:01:24.040 --> 0:01:25.959 you don't want your fifteen point piece plan. We've actually 0:01:26.000 --> 0:01:28.680 got five of our own. But the market is still optimistic. 0:01:28.959 --> 0:01:31.800 Well, there is at least some sign of engagement, at 0:01:31.880 --> 0:01:35.400 least through intermediaries. The US had sent its fifteen point 0:01:35.520 --> 0:01:39.440 plan through Pakistan. It was promptly rejected, and it contains 0:01:39.480 --> 0:01:43.040 some of the familiar provisions, limits on Iran's missile program 0:01:43.080 --> 0:01:46.600 or rollback of its nuclear efforts, and then also international 0:01:46.640 --> 0:01:50.080 guarantees for access through the Strait of Moves. And now 0:01:50.080 --> 0:01:52.800 we have seen tay Ran respond with its own five 0:01:52.920 --> 0:01:56.920 point plan or its conditions if you will. That include 0:01:57.000 --> 0:02:01.640 actually halt hostilities, a demand for reparations from the devastating 0:02:01.680 --> 0:02:05.520 assault by the US and Israel, honored cities and critical facilities, 0:02:05.760 --> 0:02:13.000 but also very important sovereignty recognize internationally over the strait 0:02:13.000 --> 0:02:16.560 of horror moves. So that is emerging as a sticking point, 0:02:16.720 --> 0:02:20.480 and that's actually something we heard discussed during the proceedings 0:02:20.560 --> 0:02:24.239 yesterday at Hill and Valley. During your interview with Pounteer's 0:02:24.440 --> 0:02:28.120 Chief Technology office. He brought up the importance of the 0:02:28.160 --> 0:02:32.320 Strait as an access for critical materials that are needed global. 0:02:32.480 --> 0:02:34.680 Right, But then that's why you see markets seeing what 0:02:34.680 --> 0:02:37.240 they are right, Technology stocks up, oil a little lower. 0:02:37.320 --> 0:02:40.600 Even when those headlines from Iranian state TV hit pushing 0:02:40.680 --> 0:02:44.040 back on the states of affairs with negotiations apart from 0:02:44.040 --> 0:02:47.400 an algo move, status quo resumed. Let's go to that 0:02:47.400 --> 0:02:51.320 conversation with Sean Sankar. We talked about where the conflict 0:02:51.320 --> 0:02:54.280 in Eras sits in the history of war frankly, and 0:02:54.320 --> 0:02:55.799 the role that technology has played. 0:02:56.000 --> 0:02:56.560 Listen to this. 0:02:57.760 --> 0:03:00.360 The current operations aren't going, but I think people will 0:03:00.360 --> 0:03:03.120 reflect back and say, this is the first large scale 0:03:03.160 --> 0:03:08.520 combat operation that was really driven enhanced, made substantially more 0:03:08.520 --> 0:03:10.040 productive with technology with. 0:03:10.040 --> 0:03:17.560 AI, the first AI driven war pollunteer name little higher today. 0:03:17.840 --> 0:03:19.639 What else do we take from that? 0:03:19.720 --> 0:03:23.360 Pallunteer is really front and center in this question of 0:03:23.440 --> 0:03:27.800 AI's role in warfare because it is their Maven system 0:03:27.919 --> 0:03:31.359 that is being used as the mission control for a 0:03:31.400 --> 0:03:35.760 lot of the US combat operations, and it has really 0:03:36.040 --> 0:03:39.440 accelerated in the view of combat commanders, the way that 0:03:39.520 --> 0:03:45.280 they process enormous amounts of incoming information and on the battlefield, 0:03:45.320 --> 0:03:48.360 and when you think back to prior conflicts in the region, 0:03:49.480 --> 0:03:51.920 the current one is so vastly different. And it is 0:03:51.960 --> 0:03:54.440 simply because of the enormous amounts of data that they 0:03:54.480 --> 0:03:58.640 now have coming in from satellites and other surveillance equipment 0:03:58.760 --> 0:04:02.080 scattered around the region. Commanders have to assess, but they 0:04:02.120 --> 0:04:05.400 simply don't have the personnel all in one place at 0:04:05.360 --> 0:04:08.280 a time. They really do need that machine learning and 0:04:08.400 --> 0:04:12.640 artificial intelligence capability to be able to sort through all 0:04:12.680 --> 0:04:15.360 of that. I think another critical point that also came 0:04:15.440 --> 0:04:18.719 up in the conversation, not only would Schiam during your interview, 0:04:18.760 --> 0:04:22.320 but during his remarks in the panel yesterday, was just 0:04:22.400 --> 0:04:26.599 the need to accelerate US procurement and make it more 0:04:26.640 --> 0:04:30.000 agile so that the US government and its allies can 0:04:30.160 --> 0:04:35.800 develop for the battlefield more quickly. These drones, for instance, 0:04:35.880 --> 0:04:39.080 the low cost drones, but other technology that could be 0:04:39.200 --> 0:04:43.279 brought to bear very quickly against an adversary. And he 0:04:43.360 --> 0:04:46.200 looked back to World War Two when there were more 0:04:46.240 --> 0:04:50.400 than one hundred different airframes developed by industry by the 0:04:50.520 --> 0:04:53.240 US industrial base, only a handful to improved critical but 0:04:53.279 --> 0:04:55.320 he made the point that look, we have to be 0:04:55.400 --> 0:04:57.680 trying harder and really spreading. 0:04:57.320 --> 0:05:00.200 A lot of this pull towards ending the w in 0:05:00.240 --> 0:05:03.279 Iran is what's pushing technology shares higher this morning. Blue 0:05:03.279 --> 0:05:05.360 Mist Mike Sheppard, thank you very much. From Defense Tech 0:05:05.839 --> 0:05:11.159 to space some stocks moving off on news around SpaceX's IPO, Echo, Star, 0:05:11.279 --> 0:05:14.920 Rocket Lab, Ast Space Mobile, many others. All rallying is 0:05:14.960 --> 0:05:18.160 the information reports that SpaceX aims to fire our perspectus 0:05:18.160 --> 0:05:20.719 for an IPO as soon as this week. That follows 0:05:20.720 --> 0:05:23.839 a previous Bloomberg report that SpaceX was paying to list 0:05:24.440 --> 0:05:26.520 this month or file the documents at the end of 0:05:26.560 --> 0:05:27.880 this month, which, by the way, if you look at 0:05:27.880 --> 0:05:28.840 your calendar. 0:05:28.839 --> 0:05:29.599 Is fast approaching. 0:05:29.640 --> 0:05:33.680 Let's get out to Bloombos, Kyle Porter, We've been over this. 0:05:33.680 --> 0:05:36.320 This is likely to be the biggest IPO. 0:05:36.480 --> 0:05:37.159 Of all time. 0:05:37.440 --> 0:05:43.279 I've either on a dollar raised perspective or on evaluation perspective. 0:05:43.920 --> 0:05:45.160 Let's talk about the latest car. 0:05:46.560 --> 0:05:50.360 Indeed, the more recent reporting suggests that they are on 0:05:50.520 --> 0:05:54.599 target for a June IPO, which, as you correctly point out, 0:05:54.600 --> 0:05:57.680 would be the largest IPO by both evaluation and by 0:05:57.720 --> 0:06:00.600 amount of capital raised. The current record was held by 0:06:00.600 --> 0:06:03.479 Sadi Arabia as a RAMCO there raise around twenty nine 0:06:03.560 --> 0:06:07.520 billion dollars. This would be according to recent reports, at 0:06:07.600 --> 0:06:10.400 least double that. So you've got to look at a 0:06:10.480 --> 0:06:13.479 huge range of institutional and retail mix to get this 0:06:13.520 --> 0:06:14.560 sort of an IPO done. 0:06:16.120 --> 0:06:19.599 And real demand at a time of real market volatility 0:06:19.920 --> 0:06:22.520 and big deals being done. That is that still all 0:06:22.520 --> 0:06:25.719 buttoned up? Of course, it was only recently that SpaceX 0:06:25.720 --> 0:06:26.640 consumed Xai. 0:06:28.200 --> 0:06:31.080 Indeed, it wasn't only very recently, and you know that's 0:06:31.080 --> 0:06:33.040 a business that has a huge cash burn attached to it, 0:06:33.080 --> 0:06:35.839 but it doesn't seem to have entered any enthusiasm for 0:06:35.880 --> 0:06:39.760 this IPO. You've really got a situation where institutions are 0:06:39.760 --> 0:06:44.120 looking at SpaceX as a monopoly and the retail component 0:06:44.160 --> 0:06:47.320 are looking at it. As you know, master Eland strikes again. 0:06:47.360 --> 0:06:48.600 Of course they're going to want to get into this. 0:06:48.640 --> 0:06:51.040 He's made spectacular returns for his investors over the past 0:06:51.040 --> 0:06:51.920 twenty years. 0:06:52.839 --> 0:06:55.520 We are we're just showing a chart Kyle that that 0:06:55.720 --> 0:06:58.960 is the kind of anticipated IPOs and the valuation of 0:06:59.000 --> 0:07:01.919 SpaceX like one point seven five trillion. It's worth reminding 0:07:02.200 --> 0:07:07.279 the audience that post merger SPACEXXAI, that private market transaction 0:07:07.920 --> 0:07:10.280 value the company, the combine entity at one point two 0:07:10.280 --> 0:07:11.080 to five trillion. 0:07:12.360 --> 0:07:13.520 This is big. 0:07:13.720 --> 0:07:15.840 There's a lot at stake here, right, Like, there's a 0:07:15.920 --> 0:07:19.280 reason that all of these space and SpaceX adjacent stocks 0:07:19.520 --> 0:07:22.440 are pushing higher. This is one that the world wants 0:07:22.480 --> 0:07:24.400 to get in on, and there are a long list 0:07:24.400 --> 0:07:27.360 of krem de la creme investors that are already on. 0:07:27.320 --> 0:07:27.960 The cap table. 0:07:28.120 --> 0:07:30.440 Just go over the basics of what we know of 0:07:30.520 --> 0:07:32.880 the existing backing the SpaceX act. 0:07:33.680 --> 0:07:37.880 I mean, the existing backing includes people blue chip funds 0:07:37.920 --> 0:07:42.800 like the like the Fidelity. You have dedicated space infrastructure 0:07:42.960 --> 0:07:47.120 or telecom infrastructure like Ecostar is in the Google is in. 0:07:47.160 --> 0:07:51.160 The Bank of America is in there. Given the amount 0:07:51.160 --> 0:07:54.240 of fundraising that's happened and how long SpaceX has been public, 0:07:54.280 --> 0:07:56.280 there's been a very private sorry, there's been a very 0:07:56.320 --> 0:07:58.280 long tail of people who've wanted to get into this, 0:07:58.600 --> 0:08:01.280 and that's going to reils real questions of how they 0:08:01.280 --> 0:08:04.840 go get out of hits. Typically, an IPO doesn't allow 0:08:04.960 --> 0:08:09.400 much in the way of individual investors to sell their shares. 0:08:09.640 --> 0:08:12.120 Given how long some of these people have pin locked up, 0:08:12.320 --> 0:08:13.640 there may be more of a push to do that 0:08:13.680 --> 0:08:15.880 sooner than the typical twelve month local period. 0:08:17.600 --> 0:08:19.040 It is going to be one for the record books 0:08:19.080 --> 0:08:22.360 for most Kyle Porter, we so appreciate your reporting on it. Look, 0:08:22.760 --> 0:08:25.440 let's go to a publicly traded name already that has 0:08:25.440 --> 0:08:28.560 some big moves today. We're watching ARM. That's after the 0:08:28.600 --> 0:08:31.120 company announced plans to sell its own chips for the 0:08:31.160 --> 0:08:33.800 first time, not just design them, not just licensing technology. 0:08:33.880 --> 0:08:36.880 URM CEO Rene has sat down at Bloomberg Tech Europe's 0:08:36.920 --> 0:08:37.760 Tom McKenzie. 0:08:39.280 --> 0:08:41.280 It is a very big day for ARM. There's no 0:08:41.360 --> 0:08:44.600 doubt about that. We've been an IP provider since we started. 0:08:45.280 --> 0:08:47.760 We started selling combut subsystems a few years ago, which 0:08:47.880 --> 0:08:49.720 was sort of the next step but it's not a 0:08:49.720 --> 0:08:53.400 physical thing. But as we grew into the CSS business, 0:08:53.800 --> 0:08:55.760 we had customers that kept asking for more and more 0:08:55.800 --> 0:08:59.320 and more, and here we are today with ARMS first 0:09:00.080 --> 0:09:04.760 priorate Armagi CPU, which Meta is our lead partner for 0:09:05.400 --> 0:09:07.360 and Meta asked us to do it with them, so 0:09:07.520 --> 0:09:08.120 we did. 0:09:08.480 --> 0:09:11.320 Talk to them about Meta and the partnership. Then one 0:09:11.400 --> 0:09:14.320 of your customers, open Ai, also also a customer. What 0:09:14.320 --> 0:09:16.920 are the commitments from Meta from open Ai to take 0:09:16.960 --> 0:09:18.880 this chip on board? When do you start shipping? 0:09:19.559 --> 0:09:22.360 So as Mohammad said, it's available now and we'll start 0:09:22.400 --> 0:09:24.960 shipping at the end of this year. We're not saying 0:09:24.960 --> 0:09:29.160 anything publicly about the volumes associated with it, but they 0:09:29.160 --> 0:09:32.720 are material enough that we have to start talking about 0:09:32.720 --> 0:09:34.560 the product because it's going to start showing up on 0:09:34.640 --> 0:09:35.880 our revenue this year. 0:09:36.360 --> 0:09:38.640 The revenue starts showing up this year, and in your 0:09:38.640 --> 0:09:42.280 presentation earlier here in San Francisco, you talked about potentially 0:09:42.360 --> 0:09:45.280 just this one revenue stream, just this one part of 0:09:45.280 --> 0:09:48.120 the business potentially one hundred billion dollars by twenty thirty. 0:09:49.040 --> 0:09:51.000 Talk us through how you get to that one hundred 0:09:51.040 --> 0:09:51.760 billion dollars. 0:09:52.000 --> 0:09:54.760 So we're looking here then, Tom at the general purpose 0:09:54.800 --> 0:09:58.640 CPU CHAM, which today in twenty twenty six is about 0:09:58.640 --> 0:10:02.880 sixty billion dollars seventy dollars depending on your your maths. 0:10:03.960 --> 0:10:07.240 I talked about agenta AI driving a four XCPU workload 0:10:07.760 --> 0:10:11.400 even today. So sixty billion dollars going to one hundred 0:10:11.400 --> 0:10:12.960 billion dollars by the end of the decade. In terms 0:10:12.960 --> 0:10:15.800 of market opportunity, it's not really that much of a stretch. 0:10:17.840 --> 0:10:21.240 I'm CEO Renee Has there speaking with Bloomberg's Tom McKenzie. 0:10:21.240 --> 0:10:23.840 Now coming up on the program a conversation with Congressman 0:10:23.920 --> 0:10:27.680 Suhas to Bremenian of Virginia on the future of AI 0:10:27.840 --> 0:10:28.640 data centers. 0:10:29.040 --> 0:10:31.040 That's next, This is Bloomberg Tech. 0:10:35.360 --> 0:10:37.720 Apple, Well, let's set to unveil a new standalone SyRI 0:10:37.800 --> 0:10:41.959 app featuring a redesigned interface and an ask Siri capability 0:10:42.160 --> 0:10:44.959 that works across its software ecosystem. Now that's according to sources. 0:10:45.240 --> 0:10:48.600 The app is expected to debut this year's WWDC in June. 0:10:48.640 --> 0:10:51.120 For more, Bloomberg's Apple and Consumer Tech editor, It's Mark 0:10:51.120 --> 0:10:53.400 German joins us with the breaking news that you brought 0:10:53.440 --> 0:10:56.280 and I think for many it will be a finally 0:10:56.520 --> 0:10:58.360 feeling if this happens. 0:11:00.200 --> 0:11:00.600 Finally. 0:11:00.640 --> 0:11:05.400 Indeed, Apple is revamping Siri for iOS twenty seven, macOS 0:11:05.440 --> 0:11:09.600 twenty seven, and iPad os twenty seven, launching in September. 0:11:10.440 --> 0:11:12.720 This is going to be quite significant. This is going 0:11:12.760 --> 0:11:15.760 to include a serie app. It's going to include many 0:11:15.800 --> 0:11:19.800 of the features that originally we're supposed to launch last year, 0:11:20.480 --> 0:11:23.120 Personal context, so being able to tap into your personal 0:11:23.200 --> 0:11:26.120 data and on your screen to fulfilled queries. The idea 0:11:26.240 --> 0:11:29.080 is to transform Siri from just a voice assistant to 0:11:29.160 --> 0:11:31.480 an AI agent that you can use sort of like 0:11:31.559 --> 0:11:34.319 a copilot throughout your day to help you get things 0:11:34.360 --> 0:11:37.240 done and to solve queries. So this is a really 0:11:37.240 --> 0:11:40.000 big deal for Apple, and the hope internally and the 0:11:40.040 --> 0:11:41.880 belief internally is they'll be able to pull it off 0:11:41.920 --> 0:11:43.360 in time for the iPhone eighteen pro. 0:11:44.920 --> 0:11:47.200 The other story that you broke is Amazon has been 0:11:47.200 --> 0:11:49.640 pretty active in m and A on the field of robotics. 0:11:49.800 --> 0:11:50.520 What do we need to know? 0:11:52.360 --> 0:11:55.640 Amazon is acquiring a company called Fauna Robotics, which makes 0:11:55.720 --> 0:11:59.240 this adorable I should say humanoid robot. 0:11:59.360 --> 0:12:00.960 It's about three and a half feet tall. 0:12:01.720 --> 0:12:04.480 It could dance, it could hold hands, it could respond 0:12:04.679 --> 0:12:09.240 to being called out by name, it could pick things up, 0:12:10.040 --> 0:12:12.560 it could take things from the kitchen and bring it 0:12:12.600 --> 0:12:12.920 to you. 0:12:13.559 --> 0:12:14.360 This is a big deal. 0:12:14.600 --> 0:12:17.320 And what's really clear here from what I'm hearing, is 0:12:17.320 --> 0:12:20.200 that this is not meant for deliveries or for manufacturing 0:12:20.559 --> 0:12:24.200 or anything within their fulfillment centers or operations. The idea 0:12:24.280 --> 0:12:26.959 here is to learn about humanoid robots and to get 0:12:27.000 --> 0:12:30.080 the technology and the right people to potentially build a 0:12:30.120 --> 0:12:33.680 consumer grade humanoid robot. So they'd be obviously going to 0:12:33.679 --> 0:12:37.920 toe to toe here with companies like Tesla Boston Dynamics 0:12:38.240 --> 0:12:39.559 figure you name. 0:12:39.400 --> 0:12:43.199 It right, mark it down eleven twelve. 0:12:44.080 --> 0:12:46.680 On March twenty fifth, Bloombo's mark gum and use the 0:12:46.679 --> 0:12:49.880 word adorable, Thank you very much. Now Here in Washington, 0:12:49.920 --> 0:12:53.360 the Trump administration says it's working to cut red tape 0:12:53.400 --> 0:12:56.320 around AI in the buildout of critical infrastructure, but that 0:12:56.360 --> 0:12:59.760 push is facing fresh resistance on Capitol Hill. Senator Bernie 0:12:59.760 --> 0:13:04.079 sand In Congresswomen Alexandria Cassio Cortez A set to introduce 0:13:04.160 --> 0:13:08.199 legislation that would impose a moratorium on new AI data 0:13:08.240 --> 0:13:11.120 centers until stronger safeguards are in place. 0:13:11.160 --> 0:13:13.199 That debate is especially. 0:13:12.840 --> 0:13:16.320 Relevant in Virginia, home to one of the largest concentrations 0:13:16.600 --> 0:13:19.880 of data centers in this country. Joining us now as 0:13:19.960 --> 0:13:25.400 Representative suehas Supermney in Democrat from Virginia. Your reaction, I 0:13:25.440 --> 0:13:28.280 supposed to that initiative and we can then talk about 0:13:28.280 --> 0:13:31.079 the scale of footprint of data centers in your state. 0:13:31.640 --> 0:13:34.080 Yeah, it's important to understand where it's coming from. I 0:13:34.120 --> 0:13:37.200 don't support a full data center moratorium at all, but 0:13:37.280 --> 0:13:40.640 I do think there's a lot of frustration in communities 0:13:40.720 --> 0:13:43.599 like mine when it comes to data center steamrolling. Communities 0:13:43.920 --> 0:13:46.920 and having citing issues where they can create power problems 0:13:46.960 --> 0:13:49.280 in those communities. And so if we did a comprehensive 0:13:49.360 --> 0:13:51.439 look at where we should be citing data centers across 0:13:51.480 --> 0:13:53.600 the country, what would be best for industry, will be 0:13:53.600 --> 0:13:56.720 best for the communities. I think you would actually allay 0:13:56.760 --> 0:13:59.280 a lot of the concerns that people who are supporting 0:13:59.360 --> 0:14:01.600 data s emergenty have about these data centers. 0:14:01.960 --> 0:14:06.840 You represent a region that you cannot understate the footprint 0:14:06.880 --> 0:14:11.040 there seventy percent of the world's Internet traffic flowing through 0:14:11.480 --> 0:14:14.040 servers inside what are essentially tin cans. 0:14:14.120 --> 0:14:16.000 But if my district were a country, would be one 0:14:16.000 --> 0:14:17.599 of the top five countries in terms of number of 0:14:17.679 --> 0:14:19.960 data centers and then amount of Internet running through it. 0:14:20.760 --> 0:14:25.600 What therefore is your position and how you represent your constituents, 0:14:26.000 --> 0:14:29.560 because there is a split right Nimby is one pocket. 0:14:30.000 --> 0:14:33.680 There is job creation, there is economic value created from 0:14:33.680 --> 0:14:34.840 the build out that we're seeing. 0:14:34.960 --> 0:14:36.840 Well, the data centers don't create a lot of jobs, 0:14:36.880 --> 0:14:38.880 but the local government likes it because they create a 0:14:38.920 --> 0:14:41.840 lot of revenue for local government and state government. They 0:14:42.160 --> 0:14:44.280 also don't have create a lot of jobs, which means 0:14:44.320 --> 0:14:47.320 less traffic through those communities, less schools, you have to build, 0:14:47.400 --> 0:14:49.680 less roads, you have to build so the local government 0:14:49.720 --> 0:14:51.560 loves it, which is why they keep approving them. But 0:14:51.640 --> 0:14:54.480 it's shortsighted because then you start to create energy problems. 0:14:54.560 --> 0:14:57.480 You start to have to build energy infrastructure through communities 0:14:57.520 --> 0:15:00.000 that weren't expecting it, didn't sign up, very lower home value, 0:15:00.320 --> 0:15:02.520 and people get angry about it, and rightfully so it's 0:15:02.600 --> 0:15:05.440 more than just a nimbiaism. I think people have legitimate concerns. 0:15:05.480 --> 0:15:07.400 But we can do this as a country. We can 0:15:07.440 --> 0:15:08.960 build out the data centers that we need to build 0:15:09.000 --> 0:15:11.200 out in this country. We don't need to do a moratorium. 0:15:11.240 --> 0:15:12.600 But we have to deal with the buy in of 0:15:12.640 --> 0:15:15.160 communities across the country because I know there's communities that 0:15:15.200 --> 0:15:17.040 want data centers that are coming to ours right now. 0:15:17.200 --> 0:15:19.480 If we had all our data centers, you know, it 0:15:19.520 --> 0:15:21.400 takes more power than the city of DC and we're 0:15:21.400 --> 0:15:23.480 doubling the number of data centers, so we have too 0:15:23.480 --> 0:15:26.160 many in one spot. That's a national security concern as well. 0:15:26.240 --> 0:15:28.400 What we really need to do is just start spreading 0:15:28.400 --> 0:15:30.640 out the data centers across the country and getting it 0:15:30.640 --> 0:15:32.360 in place to where community buying is there. 0:15:33.320 --> 0:15:38.080 How can we hear from communities simultaneously. Clearly we're hearing 0:15:38.160 --> 0:15:42.640 from leadership of big tech. Look today, yet another technology council. 0:15:42.720 --> 0:15:44.680 The President is creating one at the moment where we 0:15:44.760 --> 0:15:46.360 understand Jensen hung is going to be part of it. 0:15:46.400 --> 0:15:48.280 Mark Zuckerberg is going to be part of it. Larry Ellison. 0:15:48.480 --> 0:15:52.120 People very committed to data center build out, to compute 0:15:52.120 --> 0:15:54.240 build out. So how do you ensure that at the 0:15:54.320 --> 0:15:58.200 same time the voices of constituents are heard about these 0:15:58.240 --> 0:16:01.800 anxieties about jobs, about what's happening in terms of energy prices. 0:16:01.840 --> 0:16:03.680 We need to give them a voice in Congress, at 0:16:03.720 --> 0:16:05.760 the state level, at the local level, every level of 0:16:05.800 --> 0:16:08.360 government needs to give their constituents a voice. And we 0:16:08.400 --> 0:16:10.600 don't have to be adversarial all the time to tech. 0:16:10.720 --> 0:16:12.920 We can work together and we can solve this together. 0:16:13.280 --> 0:16:15.680 But certainly we have to make sure that constituents' voices 0:16:15.880 --> 0:16:18.080 do a say, do have a seat in the table, 0:16:18.400 --> 0:16:21.160 because otherwise there's going to be a huge backlash towards 0:16:21.400 --> 0:16:23.840 data centers. You're starting to see it more prominently now. 0:16:23.880 --> 0:16:26.480 Right now you've got members of Congress introducing these moratoriums. 0:16:26.520 --> 0:16:28.120 You're going to see it even more prominently if they 0:16:28.160 --> 0:16:29.680 continue to steam all these communities. 0:16:29.800 --> 0:16:32.440 We have the NSCALE CEO on to start this week, 0:16:32.480 --> 0:16:34.320 which already feels a very long time. Agover is on 0:16:34.400 --> 0:16:37.080 Monday talking about how they're thinking vertical integration and they're 0:16:37.080 --> 0:16:40.160 bringing electricity and infrastructure to the bear. We had Cruso, 0:16:40.240 --> 0:16:43.560 the CEO on earlier yesterday talking about how they're also 0:16:43.640 --> 0:16:47.280 thinking about infrastructure and building it out. Are there innovative 0:16:47.320 --> 0:16:50.240 ways in which you can sil have data centers being 0:16:50.240 --> 0:16:53.080 built near you without sunning a price push, without a 0:16:53.160 --> 0:16:56.280 national security risk, without any detriment to your property prices. 0:16:57.360 --> 0:16:57.880 Yes, and no. 0:16:58.160 --> 0:17:00.800 I'd like to see exactly what they mean that because 0:17:01.240 --> 0:17:04.320 you know, a lot of times people talk about SMRs 0:17:04.320 --> 0:17:07.919 small nuclear reactors. Essentially you need three or four of 0:17:07.920 --> 0:17:10.480 them for each data center, and who wants those nuclear 0:17:10.520 --> 0:17:13.360 reactors next to their homes for instance, and sales. 0:17:13.119 --> 0:17:15.320 Using gas provisions like you. 0:17:15.720 --> 0:17:17.280 I think, I don't know how innovative that is. 0:17:17.320 --> 0:17:19.879 When it comes down to congressmen, you know, on the 0:17:19.920 --> 0:17:22.440 industry side, they would argue they take on the capital 0:17:22.480 --> 0:17:26.240 burden of grid modernization, they buy electricity in bulk, and 0:17:26.320 --> 0:17:30.320 that they would argue there's a deflationary impact for everyday 0:17:30.359 --> 0:17:34.760 people's energy prices. There's also a lot of Bloomberg reporting 0:17:34.840 --> 0:17:37.280 and investigation that shows in zip codes where there's a 0:17:37.320 --> 0:17:41.359 high concentration of data center electricity prices have gone up 0:17:41.359 --> 0:17:42.000 and energy. 0:17:41.760 --> 0:17:44.200 Prices have gone up. What do you see the real 0:17:44.359 --> 0:17:45.560 on the ground view. 0:17:45.920 --> 0:17:49.360 My home in Ashburn, Virginia, our electricity prices have gone up, 0:17:49.400 --> 0:17:52.440 and it's because we had to pay for that infrastructure. 0:17:52.560 --> 0:17:54.760 They're not taking that costs into accounts. So, yes, you 0:17:54.800 --> 0:17:59.280 bring more energy infrastructure long term lower costs, but when 0:17:59.280 --> 0:18:01.600 we have to pay front for that energy infrastructure, it 0:18:01.680 --> 0:18:03.080 raises our utility prices. 0:18:03.240 --> 0:18:04.200 So that needs to change. 0:18:04.240 --> 0:18:06.600 When you to make sure that communities aren't subsidizing the 0:18:06.680 --> 0:18:08.800 data center's energies. And again we can do is a 0:18:08.840 --> 0:18:12.119 lot of companies are actually volunteering to do this to 0:18:12.119 --> 0:18:13.879 be able to pay for their own energy infrastructure. I 0:18:13.960 --> 0:18:16.080 like that idea. That's going to help a lot, and 0:18:16.119 --> 0:18:17.400 that's the type of thing we need to be doing 0:18:17.400 --> 0:18:18.800 when it comes to getting community buyering. 0:18:19.280 --> 0:18:22.680 What is your view of your constituents and the American 0:18:22.760 --> 0:18:26.199 people's relationship with AI. I think Caroline and I have 0:18:26.240 --> 0:18:28.760 had a lot of conversations in the last twenty four 0:18:28.800 --> 0:18:32.199 hours where AI doesn't have very much good PR at 0:18:32.200 --> 0:18:35.600 the moment with every day Americans. One thing that Sean Sankar, 0:18:35.640 --> 0:18:37.959 he's the CTO at Palenteer, put to us is that, 0:18:38.000 --> 0:18:41.040 you know, there's a distinction between what is AI slop 0:18:41.160 --> 0:18:43.679 what people see in their social media feeds, and how 0:18:43.720 --> 0:18:46.239 they actually might benefit from it in their working and 0:18:46.280 --> 0:18:47.160 at home lives. 0:18:47.720 --> 0:18:49.639 You know, I worked at the White House as a 0:18:49.640 --> 0:18:53.240 tech advisor ten years ago. AI was exciting to people. 0:18:53.359 --> 0:18:55.080 They couldn't wait to use it, they couldn't wait to 0:18:55.119 --> 0:18:58.640 adopt it. But they've seen the job displacement. It's hard 0:18:58.680 --> 0:19:01.880 to love AI when companies are putting out announcements saying 0:19:02.080 --> 0:19:05.320 because of AI or laying off jobs, congratulations to us. Right, 0:19:05.520 --> 0:19:07.040 people don't like to hear that. They don't like to 0:19:07.119 --> 0:19:09.240 hear about data centers coming to their community and making 0:19:09.280 --> 0:19:12.280 them pay for the energy costs and energy infrastructure. So 0:19:12.400 --> 0:19:14.760 AI has a PR problem, but they've earned it because 0:19:14.760 --> 0:19:17.960 of the way they talked to communities about AI. And 0:19:18.000 --> 0:19:20.600 so what we need to do is we're collaborative with government. 0:19:20.640 --> 0:19:22.639 I think Congress needs to get more involved than it 0:19:22.680 --> 0:19:25.280 has already when it comes to safety and national security 0:19:25.720 --> 0:19:26.760 and communities. 0:19:27.359 --> 0:19:30.600 Representative sus sobre Money, I'm Democrat of Virginia. It's a 0:19:30.640 --> 0:19:33.199 wonderful to have time with you today. Thank you very much. Indeed, 0:19:33.640 --> 0:19:36.959 now coming up Striker still reeling from a March eleventh, 0:19:36.960 --> 0:19:39.960 I ran link cyber attack that stalled global operations, will 0:19:39.960 --> 0:19:42.480 discuss the cyber landscape amid the continuing war in Iran. 0:19:42.520 --> 0:19:54.080 That's next, this will be their attack, Striker. Well, it 0:19:54.119 --> 0:19:57.200 says a March eleventh cyber attack that stalled global operations 0:19:57.280 --> 0:20:00.960 is lightly contained, but disruptions persist ten days after the event. 0:20:01.200 --> 0:20:03.760 That's according to the EIGHTK filing from the company just yesterday. 0:20:03.920 --> 0:20:07.960 Blumberg cyber Editorestone joins us with more what is keeping 0:20:08.000 --> 0:20:10.800 it so long from being able to really ascertain operations? 0:20:10.840 --> 0:20:16.200 Again, this is a really complicated, intense, complex attack carried 0:20:16.240 --> 0:20:19.359 out excuse me, by a nation state against the company 0:20:19.359 --> 0:20:21.600 that just wasn't expecting this kind of thing. You know, 0:20:21.680 --> 0:20:25.440