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Speaker 1: News when you want it with Bloomberg News Now, I'm

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Speaker 1: Doug Krisner.

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Speaker 2: After the bell.

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Speaker 1: We heard from Broadcom and the company is now predicting

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Speaker 1: a boom in demand for artificial intelligence chips. We have

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Speaker 1: more from Bloomberg's Charlie Pellett.

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Speaker 2: Broadcom is a big supplier for Apple and other big

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Speaker 2: tech companies. On a post earnings conference call, Broadcom said

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Speaker 2: sales of its AI products will gain sixty five percent

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Speaker 2: in the first quarter, far faster than its overall semiconductor

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Speaker 2: growth of about ten percent. It also predicted that the

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Speaker 2: addressable market for AI components that it designs for data

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Speaker 2: center operators would reach as high as ninety billion by

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Speaker 2: fiscal twenty twenty seven. Like Nvidia, Broadcom is positioning itself

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Speaker 2: to be a major beneficiary of a spending frenzy in

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Speaker 2: New York. Charlie Pellett's Bloomberg Radio.

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Speaker 1: Broadcom chips are used in Apple devices for Bluetooth and

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Speaker 1: Wi Fi connections, but that's about to change. Next year.

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Speaker 1: Apple will substitute Broadcom products with it us in house chips.

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Speaker 1: We are told those chips are code named Proxima, and

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Speaker 1: like other Apple in house chips, Proxima will be produced

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Speaker 1: by partner TSMC. Amazon is donating a million dollars to

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Speaker 1: President elect Trump's inaugural fund. Company founder Jeff Bezos is

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Speaker 1: meeting with Trump next week, and he has expressed optimism

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Speaker 1: about Trump's second term. Meantime, Meta Platforms has also donated

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Speaker 1: one million dollars to Trump's inaugural fund, and tech leaders

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Speaker 1: like Mark Zuckerberg have been meeting with Trump as well.

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Speaker 1: Earlier today, President Electrump met with leaders of the International

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Speaker 1: Longshoreman's Association, and he expressed support for the union, citing

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Speaker 1: concern about the impact of automation on American workers. The

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Speaker 1: union may strike again on January fifteenth over the use

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Speaker 1: of semi automated cranes at port terminals. That's something Trump opposes.

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Speaker 1: He said it would harm workers and send profits to

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Speaker 1: foreign countries. We go to Canada next, where the government

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Speaker 1: is considering the use of export taxes on major com

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Speaker 1: modity sold to the US if President Electrump carries out

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Speaker 1: his threat to impose broad tariffs. We are told some

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Speaker 1: officials in the Canadian government believe those export levies would

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Speaker 1: be a last resort for Canada, but they did say

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Speaker 1: retaliatory tariffs against US made goods and export controls on

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Speaker 1: certain Canadian products would be more likely to come first.

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Speaker 1: President Electrump's economic advisors are considering doubling the state and

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Speaker 1: local tax deduction, known as salt from the current ten

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Speaker 1: thousand dollars to twenty thousand dollars. Economic advisor Steven Moore

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Speaker 1: told Bloomberg the group is opposed to making the deduction

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Speaker 1: unlimited now. Trump vowed to revive the salt deduction during

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Speaker 1: the campaign. Here is Bloomberg's Gregory Corti.

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Speaker 3: Unlike other deductions, it's not doubled when you are married

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Speaker 3: filing jointly. There is a marriage penalty to this salt

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Speaker 3: tax cap that stuck in a lot of people's across

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Speaker 3: so effectively doubling it to twenty thousand dollars kind of

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Speaker 3: lets you perhaps that's the mechanism to do it, or

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Speaker 3: maybe they just double it, But that was one I

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Speaker 3: think legitimate policy question around the whole cell tax cap.

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Speaker 1: That is Bloomberg's Gregory Corti. Now, the latest on the

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Speaker 1: killing of United Health Group executive Brian Thompson. The suspect

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Speaker 1: charged in this murder, Luigi Mangoni, was not a member

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Speaker 1: of any United Healthcare insurance plan. A spokesperson from the

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Speaker 1: company also said that Mangonie's mother was also not covered.

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Speaker 1: This dispels the notion that the shooting was motivated by

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Speaker 1: a grievance from Mangoni's experience with United Healthcare, the nation's

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Speaker 1: largest health insurer. Today, financial markets considered whether the Fed

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Speaker 1: could soon hit the pause on rate cuts. At the moment,

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Speaker 1: a rate cut at next week's meaning seems a given,

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Speaker 1: especially after the European, the Swiss, and the Canadian central

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Speaker 1: banks cut rates this week, But now there's concern about

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Speaker 1: inflation becoming stubborn. Today's reading on producer prices showed a

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Speaker 1: gain in the PPI of three percent in November. Here

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Speaker 1: is Bloomberg's Michael McKee.

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Speaker 4: Consensus was for two six, so this is a big

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Speaker 4: jump over two four last month. Core comes in up

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Speaker 4: two tenths, which is what was forecast. That's down from

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Speaker 4: the three tenths in the month of October. And the

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Speaker 4: core minus trade services as well is only up a tenth.

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Speaker 4: So you put those all together and it isn't as

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Speaker 4: bad as that headline number sounds.

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Speaker 1: That is Bloomberg's Michael McKee. Nonetheless, stocks were down today

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Speaker 1: and US Treasury yields moved higher. On the latest edition

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Speaker 1: of the Bloomberg Big Take podcast, host David Goura spoke

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Speaker 1: with US Treasury Secretary Janet Yellen. Goura asked the Treasury

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Speaker 1: Secretary if she's confident the FED could withstand a more

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Speaker 1: actively involved White House and other kinds of political pressure.

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Speaker 5: Independence is absolutely central to the Fed's effectiveness, and I

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Speaker 5: believe it's important that it remains an independent institution, that

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Speaker 5: politics don't enter its decision making, and it remains accountable

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Speaker 5: to Congress to explain how it's pursuing the goals that

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Speaker 5: Congress is assigned to it.

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Speaker 1: That is US Treasury Secretary Janet Yellen. By the way,

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Speaker 1: you can hear the entire interview on the Bloomberg Big

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Speaker 1: Take podcast with host David Gura. Subscribe to The Big

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Speaker 1: Take podcast wherever you get your podcast, and that is

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Speaker 1: News when you want it with Bloomberg News. Now, I'm

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Speaker 1: Doug Prisoner and this is Bloomberg