WEBVTT - US to Probe Cuba Speedboat Shooting; Third Round of Iran Nuclear Talks Begin

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today.

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<v Speaker 3>Karen, we begin with new tensions in the Caribbean. The

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<v Speaker 3>Cuban Coastguard has shot and killed four people on a

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<v Speaker 3>speedboat registered in Florida. Cuba's government says the ten armed

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<v Speaker 3>people on board were Cubans living in the US who

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<v Speaker 3>plan to enter the country to fight the government. Secretary

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<v Speaker 3>of State Marco Rubio says the US will conduct its

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<v Speaker 3>own investigation.

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<v Speaker 4>It is highly.

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<v Speaker 5>Unusual to see shootouts an open sea like that. It's

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<v Speaker 5>not something that happens every day. It's something, frankly that

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<v Speaker 5>hasn't happened with Cuba in a very long time. But

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<v Speaker 5>we're going to find out. We're not going to base

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<v Speaker 5>our conclusions on what they've told US.

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<v Speaker 3>Secretary of State Rubio spoke to reporters last night, and

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<v Speaker 3>we get more from Bloomberg Deputy Washington Bureau Chief Laura Davison.

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<v Speaker 6>Is this hitting at a really moment between US and

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<v Speaker 6>Cuba tensions. You know that there's been a US embargo

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<v Speaker 6>of oil to Cuba for several weeks now, and the

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<v Speaker 6>island is really facing an economic crisis, as there's a

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<v Speaker 6>major energy shortages and the country is essentially running out

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<v Speaker 6>of money.

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<v Speaker 3>Bloomberg's Lord Davison reports. Cuba's Interior Ministry says the US

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<v Speaker 3>flag boat opened fire on Cube and security forces within

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<v Speaker 3>one nautical mile of the province of Via Clara. A

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<v Speaker 3>US official told The New York Times the people on

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<v Speaker 3>the vessel were trying to get relatives out of Cuba,

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<v Speaker 3>and no US Navy or Coastguard ships were involved.

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<v Speaker 2>Let's get you some new developments in the Middle East.

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<v Speaker 7>Nathan.

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<v Speaker 2>US and Iranian officials are meeting in Geneva today for

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<v Speaker 2>the latest round of nuclear talks, and we get the

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<v Speaker 2>very latest with the Bloomberg Middle East correspondent Jumana Bursechi.

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<v Speaker 8>There's a glimmer of hope. The fact that these negotiations

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<v Speaker 8>are going ahead is perhaps a positive sign. I will

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<v Speaker 8>tell you that expectations are very, very low in terms

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<v Speaker 8>of securing a breakthrough. But the US has been applying

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<v Speaker 8>a lot of pressure on Iran the last couple of days,

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<v Speaker 8>not just with that huge military build up, all of

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<v Speaker 8>the verbal comments from presidential He even mentioned Iran in

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<v Speaker 8>the State of the Union and the latest round of

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<v Speaker 8>sanctions and some of those entities that are linked to

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<v Speaker 8>Iran as well in the last twenty four hours. So

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<v Speaker 8>there is a lot of pressure on Iran to come

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<v Speaker 8>to the table and agree to some form of a

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<v Speaker 8>diplomatic resolution with the US.

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<v Speaker 2>And bloomergeddermana Burstchi says, Taran's priority in the talks is

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<v Speaker 2>the lifting of sanctions that have hobbled its economy.

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<v Speaker 4>Well.

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<v Speaker 3>Kaar in the US is vowing to maintain high tariffs

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<v Speaker 3>on China, hours after Beijing warned against any future hikes.

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<v Speaker 3>US trade representative Jamison Grier says President Trump wants to

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<v Speaker 3>keep tariffs on China steady at a range of thirty

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<v Speaker 3>five to fifty percent.

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<v Speaker 7>Overall.

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<v Speaker 3>The US has imposed a one hundred and fifty to

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<v Speaker 3>eight ten percent global tariff. Following the Supreme Court defeat

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<v Speaker 3>for the president, Greer tells Bloomberg, the President wants to

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<v Speaker 3>bump up that tariff.

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<v Speaker 9>Right, We'll put out a supplemental proclamation that the President

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<v Speaker 9>will sign going to fifteen percent where appropriate. Remember, before

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<v Speaker 9>the Supreme Court struck down the tariffs, a lot of

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<v Speaker 9>these countries had agreed to have US tariffs on them

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<v Speaker 9>of eighteen percent, nineteen percent, twenty percent, so going up

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<v Speaker 9>to fifteen percent for them, at least temporarily, it's better

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<v Speaker 9>than the deal that they had.

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<v Speaker 3>US Trade reb Jamison Grier says President Trump will be

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<v Speaker 3>in Beijing at the end of next month to discuss

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<v Speaker 3>extending the tariff truce with China. Get the full conversation

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<v Speaker 3>on the new Bloomberg video Hub. It's at Bloomberg dot

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<v Speaker 3>com slash Videos.

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<v Speaker 2>Now, let's get to the latest on the Jeffrey Epstein scandal. Nathan.

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<v Speaker 2>Former President Bill Clinton, and former Secretary of State Hillary

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<v Speaker 2>Clinton are set to face questioning from lawmakers about donations

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<v Speaker 2>to the Clinton Foundation boosted by Epstein and Bloomberg. Amy

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<v Speaker 2>Morris has more from Washington.

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<v Speaker 7>The Clintons are expected to testify before a House panel

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<v Speaker 7>over the coming two days. They'll be sworn in, they

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<v Speaker 7>have to answer questions under oath, and they initially refuse

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<v Speaker 7>to appear. They finally agreed after months of negotiations. House

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<v Speaker 7>Oversight Committee chair James Comer says, they have a lot

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<v Speaker 7>of questions.

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<v Speaker 3>One of the questions that we all have in both

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<v Speaker 3>parties is how was Jeffrey Epstein able to surround himself

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<v Speaker 3>with the most powerful people.

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<v Speaker 8>In the world.

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<v Speaker 7>House Oversight Panel Democrats will brief the media after those depositions.

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<v Speaker 7>The Clintons say they're being selectively prosecuted by Republicans on

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<v Speaker 7>that committee in Washington, Amy Morris, Bloomberg Radio.

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<v Speaker 3>Right, Amy, thank you. Separately, the Justice Department says it'll

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<v Speaker 3>look into whether it improperly withheld documents from its Epstein files.

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<v Speaker 3>That announcement comes after several news organizations reported that records

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<v Speaker 3>involving uncorroborated accusations from a woman against President Trump were

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<v Speaker 3>not among those released to the public.

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<v Speaker 2>Well, let's turn to the markets now, Nathan, where a

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<v Speaker 2>rally in stocks is stalling following in Vidia's latest sales forecast.

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<v Speaker 2>The dominant maker of artificial intelligence processors did deliver profit

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<v Speaker 2>and first quarter outlooks that easily beat analyst estimates. The

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<v Speaker 2>chipmaker said fiscal first quarter revenue will be about seventy

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<v Speaker 2>eight billion dollars, and that was more than five billion

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<v Speaker 2>dollars above the average analyst estimate, but it did fall

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<v Speaker 2>shy of some of the loftiest projections. Matthew Bloxham covers

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<v Speaker 2>in Vidia for Bloomberg Intelligence.

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<v Speaker 10>In isolation, it is a great number and it's really

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<v Speaker 10>strong growth here on you, but I think you have

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<v Speaker 10>to put it in the context of where Nvidia is

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<v Speaker 10>right now in terms of the overall market perceptions and

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<v Speaker 10>where the share price assistian It's a four point seven

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<v Speaker 10>something trillion dollar company. There's a huge amount of forward

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<v Speaker 10>growth baked into the share price, and these numbers, even

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<v Speaker 10>though they on paper beat the average analyst expectation, I

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<v Speaker 10>think that the whisper numbers. So if you like, we're

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<v Speaker 10>kind of higher.

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<v Speaker 2>And Bloomberg Intelligence is Matthew Bloxham says in video, still

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<v Speaker 2>faces uncertainty in China. For now, the company will continue

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<v Speaker 2>to exclude data center revenue and China from its forecast,

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<v Speaker 2>and right now, shares of Nvidia more than one and

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<v Speaker 2>a half percent in early trading.

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<v Speaker 3>Well software stocks could be under pressure once again this morning. Karen,

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<v Speaker 3>following earnings from another former high flyer, Bloomberg's John Tucker,

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<v Speaker 3>joins us with more that John.

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<v Speaker 11>And Salesforce gave a lukewarm outlook for sales growth. Nathan,

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<v Speaker 11>the leading maker of customer management software or software as

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<v Speaker 11>a service SaaS, Salesforce has become a poster child for

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<v Speaker 11>Wall Street worries about the impact of AI. The company

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<v Speaker 11>says revenue is going to be about forty six billion

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<v Speaker 11>dollars in the new fiscal year. That forecast is aligned

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<v Speaker 11>with analyst estimas, but it is not impressing investors. Shares

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<v Speaker 11>are down close to four percent pre market, and the CEO,

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<v Speaker 11>Mark Benioff, he doesn't sound too worried. He says this

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<v Speaker 11>is not our first SaaS apocalypse, as he puts it.

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<v Speaker 11>On the San Francisco based company shares, they're down about

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<v Speaker 11>twenty seven percent this year, alongside competitors like into It,

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<v Speaker 11>Workday and Service Now you know, New York Time, John Tucker, Bloomberg.

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<v Speaker 2>Radio, Ry John, thank you, and up programming. Note. The

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<v Speaker 2>markets may pause for the weekend, but the world does not,

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<v Speaker 2>and that's why we're bringing you a new radio and

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<v Speaker 2>TV show, Bloomberg This weekend is looking beyond the daily

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<v Speaker 2>headlines to the bigger things driving politics, business and culture.

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<v Speaker 2>Joined David Gura, Christina Raffini, and Lisa Matteo for smart

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<v Speaker 2>conversations and in depth interviews that help make sense of

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<v Speaker 2>the week that's been and what comes next. Saturdays and

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<v Speaker 2>Sundays from seven am Eastern on Bloomberg Radio, TV and

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<v Speaker 2>the Bloomberg Business App. Time now for a look at

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<v Speaker 2>some of the other stories making news in New York

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<v Speaker 2>and around the world. And from now we're joined by

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<v Speaker 2>Bloomberg's and Michael Barr. Michael, Good Morning, Good morning, Karen.

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<v Speaker 12>There are more calls for Republican Congressman Tony Gonzales of

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<v Speaker 12>Texas to step down. It comes a bit questions about

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<v Speaker 12>whether he had an extra maarital affair with a staffer

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<v Speaker 12>who died by suicide last year. Fellow Republican Florida Congresswoman

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<v Speaker 12>Anna Paulina Luna, I think.

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<v Speaker 1>That Tony Gonzales should not be seeking re election.

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<v Speaker 4>I think that this is a gross reflection of everything

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<v Speaker 4>wrong with Washington, and it's not just on the Republican side.

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<v Speaker 7>It happens on the Democrat side.

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<v Speaker 1>And I'm thinking about potentially bringing forward to centure next

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<v Speaker 1>week for Tony Gonzalez.

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<v Speaker 12>A congressman, said he had no plans to resign following

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<v Speaker 12>a meeting with out speaker Monk Johnson. Last week's deadly

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<v Speaker 12>shooting during a youth hockey game in Rhode Island has

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<v Speaker 12>claimed a third life, whose daughter and grandson were also killed.

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<v Speaker 12>Pawtucket police say Gerald Dorgan, who had been in critical condition,

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<v Speaker 12>has died from his injuries. The mayor of Pawtucket says

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<v Speaker 12>we are heartbroken to learn that another life has been

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<v Speaker 12>lost as a result of last Monday's senseless shooting at

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<v Speaker 12>Lynch Arena. The NYPD continues to investigate a huge snowball

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<v Speaker 12>fight at Washington Square Park in Manhattan Sunday, where officers

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<v Speaker 12>were seen being pelted with snowballs. City Police Commissioner Jessica

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<v Speaker 12>Tish called the behavior disgraceful and criminal, am vowed to

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<v Speaker 12>continue the investigation. New York Mayor zoron Mumdani says he

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<v Speaker 12>has no plans to limit organize snowball fights within the city,

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<v Speaker 12>but says he has seen the videos.

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<v Speaker 4>You know, I've said time and time again that I

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<v Speaker 4>having seen these videos. To me, it was a snowball

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<v Speaker 4>fight that got out of hand and it should be

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<v Speaker 4>treated accordingly.

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<v Speaker 12>Mayor Mam Donnie says he appreciates the NYPD's work during

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<v Speaker 12>the winter weather. Celebration of life services begin today in

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<v Speaker 12>Chicago for civil rights activists and former presidential candidate the

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<v Speaker 12>Reverend Jesse Jackson. Jackson, who died on February seventeenth at

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<v Speaker 12>age eighty four. Will Lion repose at Rainbow Push Headquarters

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<v Speaker 12>through tomorrow, Global News twenty four hours a day and

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<v Speaker 12>whenever you want it with Bloomberg News Now. I'm Michael Barr,

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<v Speaker 12>and this is Bloomberg Kevin.

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<v Speaker 2>Thanks Michael. A time now for our Bloomberg Sports Update,

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<v Speaker 2>and for that we bring in John stash Hour.

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<v Speaker 13>Thanks Darren Marty gave me the NBA Oklahoma City at

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<v Speaker 13>Detroit that got the two best records. The Thunder played

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<v Speaker 13>without five of their six top scorers and the Pistons

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<v Speaker 13>won one twenty four to one. Sixteen. Jalen Durham Keen

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<v Speaker 13>Cuttingham both scored twenty nine points. Tenth straight win for

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<v Speaker 13>San Antonio, who's only two games behind the Thunder. The

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<v Speaker 13>Spurs won in Toronto. James Harden it was just traded

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<v Speaker 13>to Cleveland as a broken thumb. He could be out

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<v Speaker 13>for a while. College basketball on the Big East, Yukon

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<v Speaker 13>blew out Saint John seventy two to forty. That's Bloomberg

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<v Speaker 13>Sports Update.

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<v Speaker 2>Stay with us. More from Bloomberg Day Break coming up

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<v Speaker 2>after this.

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<v Speaker 1>Coast to Coast on Bloomberg Radio nationwide on Sirius XM

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<v Speaker 1>and around the world on Bloomberg dot com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 3>Good morning, I'm Nathan Hager. The earning story of the

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<v Speaker 3>week is in the books, but the reaction to Nvidia's

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<v Speaker 3>latest results may still be being told. The AI chip

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<v Speaker 3>giant did deliver a first quarter outlook that easily beat

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<v Speaker 3>the average Wall Street estimate, but some of the most

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<v Speaker 3>bullish investors in the AI arms race may have been

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<v Speaker 3>left a little bit less than impressed. Joining us now

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<v Speaker 3>is someone who's very bullish on the AI story. Dan Ives,

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<v Speaker 3>Global head of Tech Research at Webbush Securities. So the

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<v Speaker 3>top line number seventy three percent sales game in the

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<v Speaker 3>quarter to sixty eight point one billion dollars in the

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<v Speaker 3>projection for this quarter seventy eight billion, the stock is

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<v Speaker 3>kind of moving a little bit higher. Your reaction to

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<v Speaker 3>the numbers, Dan, good morning.

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<v Speaker 4>Yeah, great to be here. Look, I think they were

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<v Speaker 4>stunning numbers. And if you look especially data center and

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<v Speaker 4>demand seventy five percent growth. Look, I think there's a

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<v Speaker 4>stock that's up three to five percent today, you know,

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<v Speaker 4>And I think it's one where you talk about some

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<v Speaker 4>of the AI bubble fears. You look at what they

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<v Speaker 4>put together, this speaks to really a cappec supercycle that

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<v Speaker 4>that's even accelerating more in the street expected. That's going

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<v Speaker 4>to be a huge positive for the rest of tech.

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<v Speaker 4>And the knee jerk reaction here is very underestimated in

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<v Speaker 4>terms of writing the stock and the tech's going to

0:11:46.480 --> 0:11:47.040
<v Speaker 4>do from this.

0:11:47.600 --> 0:11:49.920
<v Speaker 3>So why do you think that we're not seeing that

0:11:50.040 --> 0:11:53.360
<v Speaker 3>kind of more bullish reaction that you think this stock

0:11:53.360 --> 0:11:54.199
<v Speaker 3>should show up in it.

0:11:55.400 --> 0:11:58.199
<v Speaker 4>Look, we're in what I call it an AI ghost trade.

0:11:58.720 --> 0:12:01.000
<v Speaker 4>I mean, it's been very name negative sentiment that we've

0:12:01.000 --> 0:12:04.400
<v Speaker 4>seen over the last month, you know, especially from anthropic

0:12:04.559 --> 0:12:07.160
<v Speaker 4>some of the caud worries. And I think right now

0:12:07.240 --> 0:12:10.240
<v Speaker 4>this is a guilty to a proven as in tech market.

0:12:10.360 --> 0:12:12.720
<v Speaker 4>But when you look at these numbers and you look

0:12:12.760 --> 0:12:17.640
<v Speaker 4>at cappacs and the story it's telling, it's that if

0:12:17.679 --> 0:12:21.640
<v Speaker 4>you think about this is called second third inning of

0:12:21.679 --> 0:12:25.319
<v Speaker 4>the AI revolution, markets treating it like it's seventh eighth inning,

0:12:25.720 --> 0:12:28.040
<v Speaker 4>And I think that is the key here. You mean,

0:12:28.120 --> 0:12:30.000
<v Speaker 4>you've talked about this over the years, and under knee

0:12:30.080 --> 0:12:34.320
<v Speaker 4>jerk reactions, you go through these sort of roles. That's

0:12:34.360 --> 0:12:37.199
<v Speaker 4>what we're going through. The numbers speak for themselves.

0:12:37.480 --> 0:12:39.920
<v Speaker 3>Well, of course, the number that still hangs over this story,

0:12:39.960 --> 0:12:43.040
<v Speaker 3>six hundred and fifty billion dollars from the hyperscalers on

0:12:43.320 --> 0:12:46.559
<v Speaker 3>cap backs. Did Jensen Wong, the CEO, do enough in

0:12:46.600 --> 0:12:50.360
<v Speaker 3>the call to assure investors that that kind of spending

0:12:50.400 --> 0:12:53.839
<v Speaker 3>from its own customers is going to pay off for them.

0:12:54.240 --> 0:12:57.000
<v Speaker 4>Yeah, I think, But I mean he did an excellent

0:12:57.080 --> 0:12:59.760
<v Speaker 4>job talking about how the cap beex is going to

0:12:59.800 --> 0:13:04.320
<v Speaker 4>pay for Nvidia. What that means that this next phase specifically,

0:13:04.360 --> 0:13:07.959
<v Speaker 4>not just Blackwell but Rubin and I think you'll hear

0:13:08.000 --> 0:13:12.240
<v Speaker 4>more about that, you know, a GtC in mid March. Look,

0:13:12.760 --> 0:13:17.800
<v Speaker 4>I think if there's a blemish, it's the continued theme.

0:13:18.280 --> 0:13:20.960
<v Speaker 4>China is basically a goose egg right now because of

0:13:21.000 --> 0:13:26.600
<v Speaker 4>the restrictions investors want to see China. Ultimately that become

0:13:27.080 --> 0:13:29.280
<v Speaker 4>what I believe could be. You know, when you think

0:13:29.280 --> 0:13:34.439
<v Speaker 4>about the acceperation, a incremental five percent growth for a video,

0:13:34.679 --> 0:13:36.600
<v Speaker 4>but right now that's in the hands of the government

0:13:36.640 --> 0:13:37.920
<v Speaker 4>given the restrictions.

0:13:38.320 --> 0:13:40.720
<v Speaker 3>In our last minute, Dan, we also got results from

0:13:40.760 --> 0:13:45.040
<v Speaker 3>a salesforce kind of a disappointing revenue forecast there. What

0:13:45.080 --> 0:13:47.840
<v Speaker 3>does that mean for the software story going forward?

0:13:49.400 --> 0:13:53.680
<v Speaker 4>We saw yes workday that was down and then ultimately

0:13:53.760 --> 0:13:57.520
<v Speaker 4>ended up up. I think Salesforce. I think this is

0:13:57.559 --> 0:14:00.800
<v Speaker 4>actually a great conference called by Benning. Look the AI's

0:14:00.800 --> 0:14:03.559
<v Speaker 4>aheadwind in the near term, but this will be a

0:14:03.679 --> 0:14:06.840
<v Speaker 4>tow in Ne're turning it around. And I think when

0:14:06.880 --> 0:14:09.360
<v Speaker 4>he laid out in terms of the Girl strategy should

0:14:09.400 --> 0:14:13.160
<v Speaker 4>put in the investors at ease. And I think you

0:14:13.280 --> 0:14:16.360
<v Speaker 4>combine now with Nvidia and it starts to fight the

0:14:16.440 --> 0:14:20.400
<v Speaker 4>AI ghost trade, which has been to black Cloud for Microsoft,

0:14:20.520 --> 0:14:22.320
<v Speaker 4>for Oracle to overall software.

0:14:23.200 --> 0:14:27.040
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<v Speaker 2>Ray