1
00:00:01,280 --> 00:00:04,160
Speaker 1: News when you wanted. With Bloomberg News now, I'm Doug Prisner.

2
00:00:04,400 --> 00:00:07,240
Speaker 1: We're learning more about how the peace plan for Ukraine

3
00:00:07,400 --> 00:00:10,840
Speaker 1: was developed. Last month, US Special Envoice Steve Whitcoff held

4
00:00:10,840 --> 00:00:13,720
Speaker 1: a phone call with a senior Russian official to suggest

5
00:00:14,040 --> 00:00:18,040
Speaker 1: working together on the proposal, and according to transcripts obtained

6
00:00:18,040 --> 00:00:21,119
Speaker 1: by Bloomberg News, Witkof advised Russia on how to bring

7
00:00:21,200 --> 00:00:24,639
Speaker 1: up the topic with President Trump. Tonight, President Trump was

8
00:00:24,720 --> 00:00:27,440
Speaker 1: asked about this, and he called it a standard part

9
00:00:27,480 --> 00:00:28,440
Speaker 1: of negotiations.

10
00:00:28,760 --> 00:00:31,320
Speaker 2: He's going to sell this to Ukraine. He's going to

11
00:00:31,360 --> 00:00:32,520
Speaker 2: sell Ukraine to Russia.

12
00:00:32,600 --> 00:00:35,120
Speaker 3: That's what a deal maker does.

13
00:00:35,200 --> 00:00:37,720
Speaker 2: You got to say, Look, they want this, You've got

14
00:00:37,720 --> 00:00:40,879
Speaker 2: to convince him with this. And I would imagine he's

15
00:00:40,880 --> 00:00:44,479
Speaker 2: saying the same thing to Ukraine because each party has to.

16
00:00:44,440 --> 00:00:47,199
Speaker 1: Give it to That was President Trump speaking earlier to

17
00:00:47,240 --> 00:00:50,640
Speaker 1: reporters aboard Air Force One. Now, the President said he

18
00:00:50,720 --> 00:00:53,640
Speaker 1: is sending Whitcof to Moscow to meet with Russian President

19
00:00:53,680 --> 00:00:57,400
Speaker 1: Putin to finalize details. Trump also said the plan was

20
00:00:57,520 --> 00:01:01,600
Speaker 1: fine tuned, with a few remaining points of disagreement. The

21
00:01:01,640 --> 00:01:03,800
Speaker 1: search for a new FED chair is in its final

22
00:01:03,840 --> 00:01:06,959
Speaker 1: weeks and we are told the front runner is Kevin Hassett.

23
00:01:07,160 --> 00:01:10,320
Speaker 1: He is currently director of the National Economic Council. Now,

24
00:01:10,400 --> 00:01:12,960
Speaker 1: Hassett is seen as someone who would bring President Trump's

25
00:01:12,959 --> 00:01:16,760
Speaker 1: approach to lower interest rates. Here is Hassett speaking about

26
00:01:16,760 --> 00:01:19,800
Speaker 1: the FED share position tonight on Fox News. If you

27
00:01:19,840 --> 00:01:21,920
Speaker 1: were to ask me to be FED chair, then of

28
00:01:21,959 --> 00:01:24,240
Speaker 1: course I would have to say yes because I want

29
00:01:24,280 --> 00:01:26,399
Speaker 1: to serve my country and I want to serve my president.

30
00:01:26,959 --> 00:01:28,319
Speaker 2: But we'll see how it goes.

31
00:01:28,360 --> 00:01:30,520
Speaker 1: They are a lot of great candidates. That is NEC

32
00:01:30,680 --> 00:01:35,160
Speaker 1: director Kevin Hassett, speaking on Fox News Channel's Hannity. The

33
00:01:35,280 --> 00:01:39,240
Speaker 1: US government has negotiated a seventy one percent discount on

34
00:01:39,319 --> 00:01:43,800
Speaker 1: the blockbuster weight loss drugs Ozembic and Wilgovi for patients

35
00:01:43,880 --> 00:01:47,280
Speaker 1: enrolled in the Medicare program. We moved to earnings news

36
00:01:47,280 --> 00:01:50,320
Speaker 1: next after the bell. Dell Technology reported revenue for the

37
00:01:50,400 --> 00:01:54,480
Speaker 1: latest quarter below estimates. However, the company is forecasting revenue

38
00:01:54,520 --> 00:01:58,360
Speaker 1: for the current quarter above forecast thanks to increased sales

39
00:01:58,400 --> 00:02:01,560
Speaker 1: of AI servers, and at the same time, Dell is

40
00:02:01,640 --> 00:02:05,800
Speaker 1: projecting annual shipments of twenty five billion dollars. That's up

41
00:02:05,840 --> 00:02:09,120
Speaker 1: from the earlier projection of twenty billion. We got reaction

42
00:02:09,200 --> 00:02:14,079
Speaker 1: from Mehdi Husseini Group, senior equity research analyst at Sesquehanna International.

43
00:02:14,200 --> 00:02:16,959
Speaker 2: I think the twenty five billion of AI server booking

44
00:02:17,160 --> 00:02:20,200
Speaker 2: was expected. We still don't know how they're going to

45
00:02:20,240 --> 00:02:24,120
Speaker 2: hit the fifty percent EPs Kegar. The problem I have

46
00:02:24,360 --> 00:02:28,760
Speaker 2: with Dell is their well positioned for AI storage and

47
00:02:28,800 --> 00:02:33,320
Speaker 2: also notebook, but is the margin and the cost is

48
00:02:33,400 --> 00:02:38,040
Speaker 2: going up, especially higher costs of DRAM SSDs and other components.

49
00:02:38,360 --> 00:02:42,119
Speaker 1: That was Mehdi Husseini from Sessquehanna International. Shares in Dell

50
00:02:42,200 --> 00:02:44,959
Speaker 1: are up by more than five percent in late US trading.

51
00:02:45,400 --> 00:02:48,160
Speaker 1: We also heard from HP Inc. The company issued a

52
00:02:48,200 --> 00:02:52,040
Speaker 1: profit outlook for the current quarter below estimates, and HP Inc.

53
00:02:52,120 --> 00:02:54,959
Speaker 1: Said it will cut between four thousand and six thousand

54
00:02:55,080 --> 00:02:58,919
Speaker 1: jobs through fiscal twenty eight by using more AI tools.

55
00:02:59,240 --> 00:03:02,560
Speaker 1: These cuts will allow HPN to exit twenty twenty eight

56
00:03:02,639 --> 00:03:06,800
Speaker 1: with gross savings of a billion dollars. Warner Brothers Discovery

57
00:03:06,800 --> 00:03:10,680
Speaker 1: has asked potential buyers to submit new sweetened offers. This

58
00:03:10,800 --> 00:03:14,240
Speaker 1: request comes after Warner Brothers received an initial round of

59
00:03:14,280 --> 00:03:18,560
Speaker 1: bids from Paramounts, Guidance, as well as Comcast and Netflix.

60
00:03:18,880 --> 00:03:21,359
Speaker 1: Now the three are vying to buy some or all

61
00:03:21,520 --> 00:03:25,120
Speaker 1: of Warner Brothers, and after reviewing improved offers, we are

62
00:03:25,120 --> 00:03:29,160
Speaker 1: told Warner Brothers may enter a period of exclusive negotiations

63
00:03:29,200 --> 00:03:32,440
Speaker 1: with one of these companies. AI chips from Google are

64
00:03:32,480 --> 00:03:36,280
Speaker 1: being considered as a credible alternative to those from Nvidia.

65
00:03:36,680 --> 00:03:40,680
Speaker 1: Google makes tensor processing units or TPUs. They are built

66
00:03:40,720 --> 00:03:45,200
Speaker 1: specifically for certain AI related work, and they are less

67
00:03:45,200 --> 00:03:49,200
Speaker 1: power hungry than in Vidia's graphic processing units or GPU's

68
00:03:49,520 --> 00:03:53,160
Speaker 1: the dominant chips for AI. Well, the information is reporting

69
00:03:53,160 --> 00:03:56,280
Speaker 1: that Meta Platforms is in talks to spend billions of

70
00:03:56,320 --> 00:04:00,680
Speaker 1: dollars on Google's TPUs. Now a deal would signal growing

71
00:04:00,720 --> 00:04:04,600
Speaker 1: momentum for Google's chips and represent a challenge for in

72
00:04:04,760 --> 00:04:07,600
Speaker 1: Vidia's market dominance. Here is Bloomberg, se and King.

73
00:04:07,920 --> 00:04:12,480
Speaker 3: If you believe what companies, including in Video, AMD and

74
00:04:12,760 --> 00:04:16,880
Speaker 3: all of the hyperscalers are saying, absolutely not, because guess

75
00:04:16,880 --> 00:04:18,960
Speaker 3: what spending is going to the moon. This is the

76
00:04:18,960 --> 00:04:22,760
Speaker 3: greatest bonanza ever and there's a room for everybody. If

77
00:04:22,760 --> 00:04:25,880
Speaker 3: that's the case, then this isn't a threat. If you

78
00:04:25,920 --> 00:04:29,080
Speaker 3: believe at some point the music is going to stop

79
00:04:29,560 --> 00:04:32,640
Speaker 3: and that innovation is going to slow, then it becomes

80
00:04:32,640 --> 00:04:34,640
Speaker 3: a scramble. If history is a guide, it becomes a

81
00:04:34,680 --> 00:04:38,360
Speaker 3: scramble over market share. And therefore any chip that is

82
00:04:38,440 --> 00:04:41,440
Speaker 3: potentially an alternative to what in video is offering is

83
00:04:41,480 --> 00:04:41,880
Speaker 3: a threat.

84
00:04:41,920 --> 00:04:44,280
Speaker 1: That is Bloomberg Ce and King shares an in Vidia

85
00:04:44,320 --> 00:04:47,880
Speaker 1: today we're down two point six percent. Shares in Alphabet,

86
00:04:47,960 --> 00:04:50,560
Speaker 1: the parent of Google, up one and a half percent.

87
00:04:51,120 --> 00:04:53,760
Speaker 1: And that is news when you want it with Bloomberg News. Now,

88
00:04:53,839 --> 00:04:55,680
Speaker 1: I'm Doug Prisner, and this is Bloomberg

89
00:05:00,080 --> 00:05:00,120
Speaker 2: M