WEBVTT - Tech Leaders Approach Trump, Intel Looks for Buyers for Altera Arm 0:00:02.400 --> 0:00:08.920 Bloomberg Audio Studios, podcasts, radio news from. 0:00:08.680 --> 0:00:13.720 The Heart where Innovations, money and power. Collie in Silicon Valley, Nbon. 0:00:14.080 --> 0:00:18.560 This is Bloomberg Technology with Caroline Hyde and Ed Love Loves. 0:00:32.200 --> 0:00:34.559 Live from New York. This is Blomberg Technology coming up. 0:00:34.760 --> 0:00:36.840 Time is ticking as the government works to avoid shutting 0:00:36.880 --> 0:00:39.920 down as Trump and Musk wield their political power. 0:00:40.440 --> 0:00:43.080 This as the big Tech Leader Merry Go Round. 0:00:43.200 --> 0:00:45.839 Mara Lago continues with Bezos the latest to try and 0:00:45.840 --> 0:00:51.239 influence Trump's policies and decisions, and the season for Intel 0:00:51.440 --> 0:00:55.080 deal making. Pe firms are competing for Intel's programmable chip 0:00:55.200 --> 0:00:58.320 arm Alterra. But let's just get to the broader markets 0:00:58.360 --> 0:01:00.640 in general. Push to twenty twenty five. Should you should 0:01:00.640 --> 0:01:03.000 be allocating Hillary fresh on police to says with US 0:01:03.000 --> 0:01:05.800 senior Search Analystic clear Bridge with a real focus on 0:01:05.920 --> 0:01:09.400 software And that for me has been the key calling 0:01:10.240 --> 0:01:15.000 card of December November December was movement from the hardware, 0:01:15.120 --> 0:01:18.240 from the infrastructure into the software and the applications of AI. 0:01:18.400 --> 0:01:19.120 Is that going to run on? 0:01:19.440 --> 0:01:23.040 That's right, Thanks Carolin for having me. I think in 0:01:23.160 --> 0:01:26.360 general it should run on. Although I said we've had 0:01:26.440 --> 0:01:28.399 We've come so long in such a short period of 0:01:28.440 --> 0:01:30.960 time this year, with the IDV software in next being 0:01:31.040 --> 0:01:34.440 up forty percent between early August and early December, so 0:01:34.920 --> 0:01:38.160 I think some consolidation of the games we've seen is logical, 0:01:38.520 --> 0:01:40.200 and I could see more of that as we move 0:01:40.240 --> 0:01:41.760 through time in the beginning of the year. For a 0:01:41.800 --> 0:01:45.319 few reasons, but I think in general the trend is up, 0:01:45.319 --> 0:01:48.760 and I think we've reached an important point of demarcation. 0:01:48.280 --> 0:01:48.800 From the space. 0:01:48.880 --> 0:01:51.000 Let's go into those few reasons of why perhaps we're 0:01:51.000 --> 0:01:52.640 going to get a few headwinds rather than tell wins 0:01:52.680 --> 0:01:54.600 at the start. Is it macro policy, is it Trump 0:01:54.640 --> 0:01:55.000 coming in? 0:01:55.320 --> 0:01:57.600 It's uncertainties of for Macro and Trump, And it's also 0:01:57.720 --> 0:02:02.000 just time tested ellins. Like we're entering the seasonally weaker 0:02:02.040 --> 0:02:05.040 part of the year, companies are likely to guide conservatively 0:02:05.120 --> 0:02:07.960 on their Q four earnings calls, and also with what 0:02:08.000 --> 0:02:10.840 we heard from the Fed this week, the group will 0:02:10.960 --> 0:02:14.200 likely have to adjust to higher interest rates for longer 0:02:14.240 --> 0:02:16.720 and that has an impact on a few factors, including valuation. 0:02:17.800 --> 0:02:20.640 Looking at valuation more broadly, there have been the haves 0:02:20.680 --> 0:02:23.560 and have not some of them been entering big benchmarks. 0:02:23.560 --> 0:02:25.760 I think of Valenteer that has just been such a 0:02:25.800 --> 0:02:29.840 software winner. As people get galvanized by the generative AI opportunities, 0:02:30.480 --> 0:02:33.120 are those valuations too heady? At what point do we 0:02:33.120 --> 0:02:35.680 start to see Ultimately some of the PE ratios look 0:02:35.680 --> 0:02:36.840 pretty healthy because. 0:02:36.600 --> 0:02:38.560 They're managing to grow their earnings in lockstep. 0:02:38.840 --> 0:02:42.320 Such a good question. Volunteer is in somewhat rarefied error. 0:02:42.400 --> 0:02:45.919 It's the first name of scale to really capitalize on 0:02:45.960 --> 0:02:48.800 engine AI in a in a large way, and it 0:02:48.800 --> 0:02:51.359 also has the government tailwinds of where it's position, so 0:02:51.400 --> 0:02:55.000 it's doing tremendously well. Its valuation is head and shoulders 0:02:55.040 --> 0:02:58.239 above everyone else's, so I leave that alone. For the 0:02:58.280 --> 0:03:00.959 rest of the space, we are about to see I think, 0:03:01.120 --> 0:03:04.280 much better growth than we've seen. The space has been 0:03:04.320 --> 0:03:08.240 digesting a flurry of buy inactivity during COVID, so it's 0:03:08.280 --> 0:03:11.280 been really two years of digestion, and companies have been 0:03:11.400 --> 0:03:14.720 using technology as a source of cost savings. But now 0:03:14.760 --> 0:03:18.320 with the advent of generative AI and especially now agents, 0:03:18.360 --> 0:03:21.920 which I think market and a parodigm shift for the space, 0:03:22.120 --> 0:03:23.640 we're starting to see more investment. 0:03:23.760 --> 0:03:24.320 That's exciting. 0:03:24.480 --> 0:03:27.080 I mean, Palentino just showing how much has run up 0:03:27.080 --> 0:03:30.400 it's currently trading one hundred and ninety nine times future earnings. 0:03:30.840 --> 0:03:33.760 But let's go to where the oxygen is really being 0:03:33.760 --> 0:03:36.920 sucked out. The rim is all biogentic KI, And again 0:03:36.960 --> 0:03:39.200 I think there must be this question mark for investors 0:03:39.200 --> 0:03:42.520 and onlookers alike of well, show me the money, show 0:03:42.560 --> 0:03:44.880 me the productivity, show me how much this is actually 0:03:44.880 --> 0:03:45.800 gonna affect my life? 0:03:45.800 --> 0:03:47.600 Because I'm just hearing the words. 0:03:47.760 --> 0:03:52.520 Right, we're starting to see it's so early. The salesforce 0:03:52.640 --> 0:03:56.520 is effectively leading this movement. So many people are working 0:03:56.560 --> 0:03:58.240 on it, but they were of the first ones out 0:03:58.280 --> 0:04:01.920 with true urgentic functionality. I think it's been out seven weeks, 0:04:01.960 --> 0:04:03.040 maybe eight weeks. 0:04:04.040 --> 0:04:04.760 Have you used it? 0:04:04.960 --> 0:04:07.040 I personally have not used it. I've talked with a 0:04:07.080 --> 0:04:09.200 bunch of customers who have been using it, who have 0:04:09.240 --> 0:04:13.640 been testing it in data, and the feedback is excellent. 0:04:13.760 --> 0:04:19.479 The feedback is really compelling on accuracy, on ease of use, 0:04:19.520 --> 0:04:23.320 on the ability to draw together critical enterprise data and 0:04:23.440 --> 0:04:25.520 make some use of it. So I think we're just 0:04:25.760 --> 0:04:27.640 on the cusp of that. We're going to see other 0:04:27.720 --> 0:04:30.960 companies do that. But it makes for a compelling story 0:04:31.000 --> 0:04:33.479 and we can start to dream of a better time 0:04:34.000 --> 0:04:35.880 where growth is better, and part of that growth is 0:04:35.920 --> 0:04:37.880 going to come not just from the engines themselves, but 0:04:37.920 --> 0:04:41.960 from the underlying infrastructure. We're seeing customers take on that 0:04:42.040 --> 0:04:45.840 hard work of improving their data, harmonizing it, getting it 0:04:45.880 --> 0:04:49.520 ready for use, in investments in cloud and underlying infrastructure 0:04:49.520 --> 0:04:50.120 to make that work. 0:04:50.400 --> 0:04:52.279 We had Data Bax CEO raising a lot of money 0:04:52.320 --> 0:04:54.120 in the private markets, and they're all about sort of 0:04:54.160 --> 0:04:57.520 being able to use the data underlying. To that end, though, 0:04:57.760 --> 0:04:59.960 we're having a lot of the startups talking about genticare 0:05:00.240 --> 0:05:03.120 trying to get in the space, taking on the stile 0:05:03.160 --> 0:05:05.520 war's the giants such as sales Force. Are we going 0:05:05.520 --> 0:05:07.440 to see more M and A up activity once again 0:05:07.480 --> 0:05:10.240 everyone's wanted Benny Off to hold off, But more broadly, 0:05:10.560 --> 0:05:12.400 these software companies are going to get back into M 0:05:12.400 --> 0:05:15.080 and A with perhaps a more friendly administration to it. 0:05:15.160 --> 0:05:19.599 Sure, well, yes, no, and yes I think we absolutely do. 0:05:19.720 --> 0:05:21.440 I think part of the reason why we've seen that 0:05:21.520 --> 0:05:25.120 rise in software evaluations since the summer is because of 0:05:25.480 --> 0:05:28.120 this friendlier stance. We're likely to see at least on 0:05:28.600 --> 0:05:31.920 large companies buying smaller companies. We'll leave the rest of 0:05:32.040 --> 0:05:37.640 large company administration aside, but there's that we will see 0:05:37.640 --> 0:05:39.160 a lot of startups trying to get in the space, 0:05:39.200 --> 0:05:42.160 and some will be successful. There's always disruption when there's 0:05:42.240 --> 0:05:44.640 a new cycle and new tech wave. But what is 0:05:44.920 --> 0:05:48.560 compelling is that we can see these large companies capitalize 0:05:48.640 --> 0:05:52.760 augment their ports selarios. We're seeing them do that salesforce specifically, 0:05:53.240 --> 0:05:56.440 they are making tuck in acquisitions. Ultimately we probably see 0:05:56.480 --> 0:05:59.480 them do something, but right now they seem so focused 0:05:59.520 --> 0:06:03.680 on what they have at hand that we may not 0:06:03.880 --> 0:06:07.440 see what we've seen traditionally from the company in terms 0:06:07.440 --> 0:06:10.040 of large semine and in fact, the company still has 0:06:10.080 --> 0:06:12.640 a large swath of activists on the board who are 0:06:12.800 --> 0:06:14.000 highly engaged. 0:06:14.279 --> 0:06:17.479 And keeping a close eye on the purse strings very 0:06:17.520 --> 0:06:21.520 more broadly. Therefore, when twenty twenty three twenty twenty four 0:06:21.839 --> 0:06:25.200 was so dominated by one name and Nvidia and everyone 0:06:25.240 --> 0:06:27.760 asking you about the infrastructure to the software names that 0:06:27.800 --> 0:06:30.360 you really kept an eye on, are we going to 0:06:30.400 --> 0:06:32.520 see this shift now? Is everyone going to just be 0:06:32.920 --> 0:06:34.080 more around agents? 0:06:34.160 --> 0:06:35.520 Is it going to be the time of quantum? 0:06:35.520 --> 0:06:37.120 What do you think twenty twenty five is going to 0:06:37.160 --> 0:06:38.520 be the cocktail party. 0:06:38.279 --> 0:06:38.839 Question for you? 0:06:39.440 --> 0:06:41.440 Okay, that's an exciting one and one that will change 0:06:41.480 --> 0:06:41.960 every week. 0:06:42.800 --> 0:06:45.040 We have cocktails for more. 0:06:45.440 --> 0:06:47.760 We've had this push and pull between semis and software 0:06:47.839 --> 0:06:52.039 the entire time, as investor try to identify the real 0:06:52.200 --> 0:06:56.240 AI beneficiary. In reality, over time they'll both be strong 0:06:56.279 --> 0:07:00.400 beneficiaries in one way or another. The names than that 0:07:00.440 --> 0:07:06.360 group may shift, but I think software is starting its 0:07:06.480 --> 0:07:10.239 period of appreciation of AI wills and agents. As I mentioned, 0:07:10.440 --> 0:07:15.080 I think they represent the period of shift from homegrown 0:07:15.120 --> 0:07:18.000 AI or do it yourself AI to do it for 0:07:18.040 --> 0:07:20.640 me AI, and the customers would for prefer the vendors 0:07:20.680 --> 0:07:21.400 do it for them. 0:07:21.400 --> 0:07:22.480 It's going to be. 0:07:22.160 --> 0:07:25.120 Better, faster, cheaper in the end, and so I think 0:07:25.160 --> 0:07:27.920 that's a story that continues, and there are other things 0:07:27.920 --> 0:07:30.960 I like about software. Semis are in the process of 0:07:31.000 --> 0:07:32.960 getting beaten up. There's a lot of debate over whether 0:07:33.000 --> 0:07:35.800 we're going to see the big behemoth million GPU pre 0:07:35.920 --> 0:07:39.280 train models or the smaller models or post test time 0:07:39.320 --> 0:07:41.880 training where the training occurs at the point of inference, 0:07:42.600 --> 0:07:44.720 and that will have financial implications. But in the end, 0:07:44.720 --> 0:07:46.160 we're going to need a lot of semis for what 0:07:46.200 --> 0:07:46.800 we're about to do. 0:07:47.600 --> 0:07:51.360 The demands way eclipses supply. He let me fresh. So 0:07:51.400 --> 0:07:53.080 it's joy to have you in the studio, Senior. 0:07:53.120 --> 0:07:55.920 We such Analystic clear Bridge, but always leave wanting to 0:07:55.920 --> 0:07:58.680 talk a little bit more. Meanwhile, Intel, let's talk about 0:07:58.680 --> 0:08:01.120 a chick company on online and shortlisting a number of 0:08:01.160 --> 0:08:03.360 buyout firms for the next round of bidding for a 0:08:03.840 --> 0:08:06.640 terror that's its unit which specializes in the design of 0:08:06.640 --> 0:08:09.720 low power programmable chips, so at according to sources, let's 0:08:09.760 --> 0:08:12.200 bringing in Murgs Ryan Gold. So how close to the 0:08:12.280 --> 0:08:14.520 nmark are we here? How many serious bids have come 0:08:14.520 --> 0:08:15.600 in and how broad are they? 0:08:15.800 --> 0:08:18.720 Yes, if you think back Caroline too, just before Thanksgiving 0:08:19.240 --> 0:08:20.800 we put out a story that said that they were 0:08:20.800 --> 0:08:23.880 calling for bids. I think just prefacing all of this, 0:08:24.840 --> 0:08:27.360 ol Terra is kind of the single biggest topic in 0:08:27.400 --> 0:08:29.360 tech em and a right now for people who specialize 0:08:29.360 --> 0:08:30.240 in semiconductors. 0:08:30.360 --> 0:08:31.400 It's taking up a lot of time. 0:08:31.400 --> 0:08:33.960 People are spending a lot of money thinking about how 0:08:34.000 --> 0:08:37.120 to sort of structure their bids. So bids came in 0:08:37.640 --> 0:08:39.959 just after Thanksgiving, and so Intel has now got into 0:08:40.000 --> 0:08:44.120 a period where they've shortlisted. You've got firms like Bain 0:08:44.640 --> 0:08:46.520 who know and tell very well, you've got firms like 0:08:46.559 --> 0:08:48.480 Silver Like who also know Intel very well. And then 0:08:48.480 --> 0:08:51.320 there are others such as Apollo, you know, who are 0:08:51.360 --> 0:08:55.559 also looking Francisco partners, you know, quite experienced semiconductor operators. 0:08:55.800 --> 0:08:58.559 And then just to add a little bit of intrigue 0:08:58.559 --> 0:09:02.560 to the mixed lettice conductor, which does specialize in what 0:09:02.559 --> 0:09:05.800 we call FPGA's the same sort of type of technology 0:09:05.800 --> 0:09:07.720 that Intel is trying to sell here in Old Terror, 0:09:08.000 --> 0:09:10.400 they are also in the mix and also in the second. 0:09:10.160 --> 0:09:14.160 Round, but their own market capitalization not that huge, so 0:09:14.240 --> 0:09:15.199 they'd have to partner. 0:09:15.440 --> 0:09:16.760 What are some of the options here? 0:09:16.880 --> 0:09:21.000 Does Intel internally want to fully hand over rains here 0:09:21.120 --> 0:09:21.679 or keep. 0:09:21.480 --> 0:09:22.120 Skin in the game. 0:09:22.400 --> 0:09:25.240 I think Intel is quite COI on what it really 0:09:25.280 --> 0:09:27.240 wants to do. I think if you look at what 0:09:27.240 --> 0:09:30.319 they've said publicly, they have stated that their plan, even 0:09:30.480 --> 0:09:33.520 pre and postpat is to sell a stake and eventually 0:09:33.520 --> 0:09:36.079 take al Terra public. But I think just when you're 0:09:36.120 --> 0:09:38.839 in the situation that Intel's in, there are options, and 0:09:38.920 --> 0:09:40.840 you know, options on the table have to be considered. 0:09:40.840 --> 0:09:42.400 You have to think about the long term future and 0:09:42.440 --> 0:09:45.920 sustainability of those options. And so I think if something 0:09:46.000 --> 0:09:47.960 is presented to them that they see is compelling, they 0:09:48.000 --> 0:09:50.400 will give good, good credence to it. And I would 0:09:50.440 --> 0:09:52.760 just say there are many sort of proposals on the 0:09:52.800 --> 0:09:55.680 table here. There are multiple paths outlined from different suitors. 0:09:55.679 --> 0:09:58.240 For example, there could be a situation that you know, 0:09:58.280 --> 0:10:00.319 you see a group of private equities for so it's 0:10:00.360 --> 0:10:03.800 come together and take this on and sort of use 0:10:04.000 --> 0:10:06.520 their operational now to kind of transform more terror into 0:10:06.559 --> 0:10:07.480 what they think it should be. 0:10:08.040 --> 0:10:10.520 Well, a few bankers are going to be busy over 0:10:10.520 --> 0:10:12.920 the firstive period, Ran Gold, We know that you will 0:10:12.960 --> 0:10:15.640 be too, Thanks so much for coming on. Meanwhile, coming up, 0:10:15.720 --> 0:10:17.760 time is ticking for the government to avoid a shutdown. 0:10:17.800 --> 0:10:19.160 That says Trump and Musk weigh in. 0:10:19.920 --> 0:10:22.800 We're talking how busy politicians are at this particular moment. 0:10:23.080 --> 0:10:24.880 Just take a quick look at one particular stock on 0:10:24.880 --> 0:10:26.839 the move as well. I just asked Hillary, look, is 0:10:26.840 --> 0:10:28.120 twenty twenty five is going to be the year we 0:10:28.160 --> 0:10:30.240 talk about quantum Well, it's here, it's now, and it's 0:10:30.320 --> 0:10:32.920 up twenty one percent for this particular stock one name 0:10:32.960 --> 0:10:35.760 where Craig Hallum is maintaining a buy on this particular company, 0:10:35.840 --> 0:10:38.760 raising the price target to forty five. We've also had yesterday, 0:10:38.840 --> 0:10:42.480 DA Davison also initiating coverage with a by rating we're 0:10:42.480 --> 0:10:42.960 piling in. 0:10:43.080 --> 0:10:52.599 This is Bloomberg technology. 0:10:58.200 --> 0:11:01.360 The House of Representatives could vote on a temporary measure 0:11:01.640 --> 0:11:03.880 to fund the government for a brief period and avert 0:11:03.880 --> 0:11:07.760 a shutdown. That's according to two news networks, Fox News 0:11:07.920 --> 0:11:11.839 NBC citing sources. This after the House, led by Republicans, 0:11:11.920 --> 0:11:15.520 rejected a temporary funding plan despite Trumpenino Musk's pressure on 0:11:15.559 --> 0:11:18.319 goped or make us to support it when most Kaylee 0:11:18.320 --> 0:11:20.880 Lines joins us for now from Washington. It feels as 0:11:20.920 --> 0:11:23.400 though everyone's intent on not having a break before the holidays. 0:11:24.840 --> 0:11:27.600 Yeah, usually the holiday period and the smell of jet 0:11:27.679 --> 0:11:30.319 fumes is enough to motivate lawmakers to get done when 0:11:30.320 --> 0:11:32.240 they need to get done by the deadline, Caroline. But 0:11:32.240 --> 0:11:34.439 we are getting very close to the wire here, keeping 0:11:34.440 --> 0:11:37.600 in mind that government funding does expire at midnight tonight, 0:11:37.679 --> 0:11:41.040 so we're talking of window here of just under thirteen hours. 0:11:41.040 --> 0:11:44.080 And it's not yet clear what exactly planned C will 0:11:44.080 --> 0:11:46.760 be after Plan A failed, in part because Elon Musk 0:11:46.760 --> 0:11:49.160 and Donald Trump wanted to see that initial one hundred 0:11:49.520 --> 0:11:51.920 or one five hundred and forty seven page bill die. 0:11:52.040 --> 0:11:54.320 Then the Plan B, a much slim down bill that 0:11:54.400 --> 0:11:57.000 also extended the debt ceiling for two years, failed in 0:11:57.080 --> 0:11:59.720 miserable fashion on the House floor last night, with thirty 0:11:59.720 --> 0:12:02.520 eight Republicans voting against it. So now the question is 0:12:02.559 --> 0:12:04.840 going to be can something get through the House today 0:12:05.160 --> 0:12:07.600 that will avoid us shut down. We are expecting that 0:12:07.640 --> 0:12:10.240 Republicans will be holding a conference meeting just over an 0:12:10.240 --> 0:12:12.400 hour from now at twelve thirty pm Eastern Time, where 0:12:12.400 --> 0:12:14.600 they could be informed of what the plan is next, 0:12:14.640 --> 0:12:17.400 and there have been reporting has been reporting from punch 0:12:17.440 --> 0:12:20.240 Bowl News that they could actually end up just dividing 0:12:20.280 --> 0:12:23.320 the bill that failed last night, so essentially holding separate 0:12:23.400 --> 0:12:26.160 votes on a continuing resolution on the debt sealing measure 0:12:26.200 --> 0:12:28.840 on disaster relief and seeing what can get across the floor. 0:12:28.880 --> 0:12:31.600 Because there's two tug of wars here for those who 0:12:31.640 --> 0:12:33.560 aren't as in the weeds as you are. On the 0:12:33.600 --> 0:12:36.200 one front, it seems as though this is pushed largely 0:12:36.640 --> 0:12:38.760 by Musk and Trump that we don't want to see 0:12:38.760 --> 0:12:40.880 this pork, this money being given away in terms of 0:12:40.920 --> 0:12:43.440 federal aid. But on the other side is the Republicans 0:12:43.480 --> 0:12:45.840 that are really flinching to the idea of the debt 0:12:45.880 --> 0:12:47.800 ceiling just being put aside for a couple of years, 0:12:47.800 --> 0:12:50.960 which doesn't seem particularly fiscally responsible according to them. 0:12:51.480 --> 0:12:52.880 Yeah, that's exactly right, Caroline. 0:12:52.920 --> 0:12:55.160 This is a relatively new idea that has at least 0:12:55.160 --> 0:12:57.800 publicly been introduced by Donald Trump in the last several days, 0:12:57.840 --> 0:13:00.079 this notion that the debt ceiling either should be extended 0:13:00.200 --> 0:13:04.440 or repealed, lifted entirely permanently before he takes office on 0:13:04.559 --> 0:13:07.839 January twentieth. Now, lomakers I've spoken with, including the Democratic 0:13:08.160 --> 0:13:11.000 Majority Durbin last night, suggested to me that this is 0:13:11.120 --> 0:13:13.360 likely because he knows he wants to get through a 0:13:13.440 --> 0:13:16.640 tax reform package next year, and lifting the debt ceiling 0:13:16.720 --> 0:13:18.600 is an easy way to get that done, or at 0:13:18.679 --> 0:13:21.079 least make that process easier. That said, there are a 0:13:21.200 --> 0:13:24.480 number of conservatives in the House, many representing that part 0:13:24.520 --> 0:13:27.199 of that thirty eight that voted against this measure last night, 0:13:27.240 --> 0:13:29.120 that do not want to see the debt ceiling raised 0:13:29.160 --> 0:13:32.400 because they want to see more fiscal responsibility than that. 0:13:32.480 --> 0:13:34.080 So that's really going to be the question as we 0:13:34.120 --> 0:13:36.880 move forward today. Can something that lifts the debt ceiling 0:13:37.040 --> 0:13:39.360 get across the floor. Is it really only something that's 0:13:39.400 --> 0:13:42.400 going to keep the government funded for some period of time. 0:13:42.440 --> 0:13:44.959 It could ultimately be shorter than what they were initially planning, 0:13:45.040 --> 0:13:47.319 which was a three month continuing resolution that would kick 0:13:47.320 --> 0:13:50.080 the can down the road to March fourteenth. But Speaker 0:13:50.120 --> 0:13:53.079 Johnson has a very difficult needle to thread here because 0:13:53.080 --> 0:13:55.360 he has to abide by not only what his conference 0:13:55.640 --> 0:13:57.920 wantson is willing to vote for, but what Donald Trump 0:13:57.920 --> 0:14:01.520 and Elon Musk clearly are willing to see across the floor. 0:14:01.559 --> 0:14:04.560 And he has to stand for a speaker election again 0:14:04.640 --> 0:14:07.080 on January third, when one hundred and nineteenth Congress sits. 0:14:07.120 --> 0:14:09.000 And there's a very open question at this hour as 0:14:09.000 --> 0:14:11.280 to whether or not, given everything that's gone down in 0:14:11.320 --> 0:14:13.559 the last several days, Speaker Johnson is going to be 0:14:13.640 --> 0:14:14.840 able to keep the gabble. 0:14:15.280 --> 0:14:17.319 Katie Lyones, great breakdown. Thank you. 0:14:17.800 --> 0:14:19.880 Now we continue to report, of course, on the tech 0:14:19.920 --> 0:14:23.560 titans who have been meeting dining with President elect Trump 0:14:23.600 --> 0:14:25.480 in the last few days. Of course, you know that 0:14:25.560 --> 0:14:27.880 Meta CEO Mark Zuckerberg seemed to kick off the rounds 0:14:27.880 --> 0:14:29.840 of meetings Google co found us Aga Brin on the 0:14:29.880 --> 0:14:33.520 action Amazons Jeff Bezos. The latest list doesn't even include 0:14:33.520 --> 0:14:36.440 the other big tech leaders who are officially working within. 0:14:36.280 --> 0:14:37.400 The incoming administration. 0:14:37.720 --> 0:14:40.400 You know, mosk as the coludo Department of Government Efficiency, 0:14:40.520 --> 0:14:44.160 David Sachs, the AI cryptos are Marc Andreesen as an advisor, 0:14:44.240 --> 0:14:47.080 we understand, just to name a few numos. Kurt Wagner 0:14:47.200 --> 0:14:50.160 joins us to discuss the new intersection of tech and 0:14:50.200 --> 0:14:53.280 politics going into twenty twenty five. Some names that we 0:14:53.280 --> 0:14:55.280 already know very much about, but I'm sure a few 0:14:55.320 --> 0:14:57.080 more trying to line up for a dinner invitation. 0:14:58.720 --> 0:15:01.240 Yeah, I mean, everyone seems to be making their way 0:15:01.280 --> 0:15:04.320 to mar A Lago. There is a very different feel 0:15:04.440 --> 0:15:07.240 this time around Carolina. As you might recall from twenty sixteen. 0:15:07.280 --> 0:15:09.840 At that point, you know, Trump did hold that sort 0:15:09.880 --> 0:15:12.800 of famous meeting in Trump Tower where all the tech 0:15:12.840 --> 0:15:15.720 executives ended up coming, but it felt more like they 0:15:15.760 --> 0:15:17.840 were almost forced to be there, right and they were 0:15:17.840 --> 0:15:21.440 dealing with their employees back at headquarters, mostly in Silicon Valley, 0:15:21.440 --> 0:15:24.280 complaining and protesting and all this stuff. This time it 0:15:24.280 --> 0:15:26.120 feels different. They're going sort of one by one. They're 0:15:26.160 --> 0:15:29.120 having dinner at mar A Lago. They're you know, being 0:15:29.240 --> 0:15:32.680 very friendly. And I think the awkward situation here is 0:15:32.720 --> 0:15:34.760 the Elon Musk of this, all right, because all of 0:15:34.800 --> 0:15:37.440 these people are competitors in some way or another two 0:15:37.560 --> 0:15:40.320 Elon or his companies, and often when they're showing up 0:15:40.320 --> 0:15:43.560 to dinner in some cases like Jeff Bezos from Amazon, 0:15:44.040 --> 0:15:46.160 Elon Musk is at the table, right, and how much 0:15:46.240 --> 0:15:48.240 can you really say to Donald Trump? How much can 0:15:48.280 --> 0:15:52.000 you really accomplish when one of your biggest enemies is 0:15:52.080 --> 0:15:53.640 sitting right there across the table from you. 0:15:53.920 --> 0:15:59.280 Certainly space competition fears between Blue Origin and SpaceX cut. 0:15:59.640 --> 0:16:02.800 But ultimately, what do you think they will achieve by 0:16:02.800 --> 0:16:06.040 giving small In the case of the absolute balance sheets, 0:16:06.080 --> 0:16:09.840 they have small amounts towards the inauguration of Trump. And indeed, 0:16:09.880 --> 0:16:12.200 these meetings where they're showing off I think Mark was 0:16:12.240 --> 0:16:16.640 showing off the metaglasses and the latest innovations to President 0:16:16.640 --> 0:16:20.000 elect Trump going forward. How is this sort of dovetailing 0:16:20.040 --> 0:16:23.240 into actually what they want to see from a legislative agenda. 0:16:24.400 --> 0:16:26.960 Yeah, I think everyone sort of is in agreement that 0:16:27.040 --> 0:16:29.800 the best way to stay on Donald Trump's good side 0:16:29.840 --> 0:16:32.880 is to praise him to show up and sort of 0:16:33.600 --> 0:16:37.280 demonstrate that with a public display of affection, right, whether 0:16:37.320 --> 0:16:40.040 that be a million dollar donation to the inaugural fund, 0:16:40.360 --> 0:16:42.760 showing up to dinner and making that trek across the 0:16:42.760 --> 0:16:46.000 country to be there in person. And every one of 0:16:46.000 --> 0:16:48.240 these companies want something different. But I think generally, if 0:16:48.240 --> 0:16:50.520 you want a blanket Stata, they don't want him to 0:16:50.520 --> 0:16:53.720 come in hard with regulation around all the technology they're building, 0:16:53.840 --> 0:16:56.520 especially with regards to AI. Right, Like the last thing 0:16:56.800 --> 0:16:59.640 Mark Zuckerberg wants, for example, is for the Trump administration 0:16:59.680 --> 0:17:01.200 to some they say, hey, we're going to try to 0:17:01.400 --> 0:17:03.440 hamper this AI growth. We're going to make it very 0:17:03.440 --> 0:17:06.440 difficult for you Mark Zuckerberg, in particularly because you didn't 0:17:06.440 --> 0:17:09.040 show up tomorrow lago and make Trump feel special. 0:17:09.160 --> 0:17:09.360 Right. 0:17:09.400 --> 0:17:11.679 And so I think they are all doing what they 0:17:11.720 --> 0:17:13.600 need to do just to simply be in his good 0:17:13.640 --> 0:17:16.879 graces and hopes that those are relationships because they are 0:17:16.880 --> 0:17:20.360 so important to the incoming president. Those relationships will ultimately help, 0:17:20.480 --> 0:17:23.680 you know, make their road easier over these next four years. 0:17:24.119 --> 0:17:26.560 Many feel akin to Peter tail Now, who's the only 0:17:26.560 --> 0:17:29.080 one really in twenty sixteen, half times a change. Kurt Wagner, 0:17:29.359 --> 0:17:38.800 It's great to have your Time, Thank you Time now 0:17:38.880 --> 0:17:41.360 for talking tech. First up ten Cent and some related 0:17:41.400 --> 0:17:45.200 stocks is you'll see soaring on Friday after investor enthusiasm 0:17:45.400 --> 0:17:47.960 is taking over on a new gifting function on we 0:17:48.119 --> 0:17:50.439 Chat Now the future will allow yousers to give gifts 0:17:50.480 --> 0:17:53.920 price less than thirteen hundred dollars, excluding jewelry and educational services. 0:17:54.119 --> 0:17:57.639 According to a statement, Snacks cosmetics service providers are all 0:17:57.680 --> 0:18:00.679 lightly beneficiaries class sticking with ten Cents, and it's partnering 0:18:00.720 --> 0:18:02.960 with Honor on cloud and AI development. 0:18:03.200 --> 0:18:04.480 As as one of China's top. 0:18:04.320 --> 0:18:08.520 Device makers, Honor is among Tencent's higher profile cloud customers. 0:18:08.640 --> 0:18:11.560 It will use ten cents big data, analytics and search tools, 0:18:11.600 --> 0:18:14.639 along with two companies jointly creating a coding assistant to 0:18:14.680 --> 0:18:19.320 help Honor software engineers, and Baido extends its decline that 0:18:19.400 --> 0:18:22.240 says investors react to news that Apple is in talks 0:18:22.240 --> 0:18:24.959 to work with ten Cent byte Dance on you guested 0:18:25.040 --> 0:18:28.879 artificial intelligence. This also comes as newspaper reports that byte 0:18:28.920 --> 0:18:32.080 Dance has slashed the price of its new AI model, 0:18:33.240 --> 0:18:37.399 and Honheim Precision Industry, the Taiwan based manufacturer of iPhones 0:18:37.480 --> 0:18:39.560 of course it's known as fox Con too, is putting 0:18:39.600 --> 0:18:43.359 its interest in pursuing Nissan on hold as one negotiations 0:18:43.359 --> 0:18:45.240 for a potential merger with Hondura underway. 0:18:45.400 --> 0:18:46.560 It's all according to source. 0:18:46.920 --> 0:18:50.240 Meanwhile, karlosh Gohen, who was the architect of the Reno 0:18:50.440 --> 0:18:53.760 Nissan alliance twenty five years ago, said that the tie 0:18:53.840 --> 0:18:55.720 up between Nissan and Honda is a. 0:18:55.760 --> 0:19:00.359 Quote desperate move. Here's what he told Bloomberg yesterday. 0:19:02.280 --> 0:19:07.399 They have cash problem, they have investment problems. They're being 0:19:07.560 --> 0:19:11.800 really hammered in the United States. They got practically out 0:19:11.840 --> 0:19:16.280 of Europe, They're being challenged in China, and there is 0:19:16.320 --> 0:19:18.200 no plan in front of it. So I can tell 0:19:18.200 --> 0:19:20.080 you that mean there is panic mode inside MEISA. 0:19:22.119 --> 0:19:24.760