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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. Here to briefast this

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Speaker 1: morning with a new Pittsburgh Pirates cap is Dan Ives

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Speaker 1: for those of you on radio, You're lucky.

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Speaker 2: What's the p on your hat?

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Speaker 3: It's Arnold Palmer hat from Arna Palmer torn him big,

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Speaker 3: big Arma Palmer fan.

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Speaker 1: Let's get this out of the way. You signed as

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Speaker 1: a chairman of a crypto thing this week. Explain what

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Speaker 1: the game is you're doing there?

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Speaker 2: Yep.

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Speaker 3: So you know we announce that I'm gonna be chairman

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Speaker 3: of ECO and AKO. You know is you know when

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Speaker 3: you think about Sam Altman in the build out of World,

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Speaker 3: what Dave essentially done is it's really gonna be the

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Speaker 3: infrastructure authentication for AI in the future. And you know,

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Speaker 3: I was a huge believer in this. You know, I'm

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Speaker 3: not taking this on just for any crypto.

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Speaker 1: Is that equity in this a bias? Is a rasearch channelist?

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Speaker 1: This is a sidecard deal.

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Speaker 3: Yeah, this is This is a total separate initiative, uh,

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Speaker 3: you know, total separate from my web bush. But but

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Speaker 3: Tom factors really into my view of the AI revolution.

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Speaker 3: I'm doing this because I think this is gonna be

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Speaker 3: the factor standard for really you're going.

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Speaker 2: To take a minority interest in perplexity.

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Speaker 3: If they called you, we need as long as it

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Speaker 3: comes through Keen.

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Speaker 4: Earlier this week was a corrugated packaging company.

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Speaker 3: It basically is a treasury vehicle for world Coin in

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Speaker 3: terms of what we've done, and that's why I think,

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Speaker 3: you know, receptions obviously been great. You know we raised

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Speaker 3: capital and cuz that this morning, Okay, it was super

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Speaker 3: exciting to just put another you want to.

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Speaker 4: Talk, which is a workin It's a means of authentication.

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Speaker 4: You have your iris scan to know that you're the

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Speaker 4: person that you say you are.

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Speaker 2: Glad you know, Well, okay, that's enough the orb for community.

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Speaker 2: Next time, What did mag five learned from the Oracle

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Speaker 2: pop last night?

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Speaker 3: This AI party, it's ten pm going to four am.

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Speaker 3: I mean, the point is the infrastructure was that's gonna

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Speaker 3: be a historic quarter when you look at orcle and

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Speaker 3: it shows the type of cap backs we're seeing and

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Speaker 3: the use cases are exploding. We've talked about so much here.

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Speaker 2: In the Change My Life. I mean, as simple as

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Speaker 2: that look.

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Speaker 3: And the reality is anyone that thinks hype not real, right,

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Speaker 3: that oracle number is a validation. That's a drop the

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Speaker 3: mic from Saffra and Ellison. That shows to me, Okay,

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Speaker 3: what's gonna happen? The rest attack and it's abrahma.

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Speaker 1: Did we have a drop the moment with mister Cook yesterday?

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Speaker 1: I tuned in for twelve seconds. It's so manipulated. I

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Speaker 1: can't watch it. You and had Ludlow saw it. Were

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Speaker 1: your thumbs up, like Gene Munster.

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Speaker 3: Look, it's a thumbs up relative to I think expectations.

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Speaker 3: Our view here is that the elf in the room

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Speaker 3: continues to be as we talk about AI. But I

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Speaker 3: do believe with the DOJ Google situation, now you know

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Speaker 3: in the rearview mirror they will down. Then that's going

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Speaker 3: to be ultimately their AI partnership. But in terms of

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Speaker 3: the actual iPhone, look, three hundred million plus have an

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Speaker 3: upgrade four plus years. The point is this is going

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Speaker 3: to be includes John Tucker, including Talker. So if you

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Speaker 3: think about on a scale one to ten from an

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Speaker 3: upgrade cycle supercycle being a ten, it's probably gonna be

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Speaker 3: about an eight point five. But what I tell you

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Speaker 3: is the street right now numbers are conservative New York

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Speaker 3: City cab driver or uber is still barish on Apple,

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Speaker 3: and I think that to me sets it up well

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Speaker 3: as well as you add AI and they actually make

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Speaker 3: a big move there. You tell about another you know,

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Speaker 3: one hundred dollars per share to the stock.

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Speaker 4: What does Apple have to do when it comes to AI?

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Speaker 4: So I look at Meta for instance, and they pay

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Speaker 4: a lot of money. They're hiring a lot of big

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Speaker 4: name people. And I think if you look at the

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Speaker 4: history of Apple that had a bad luck of bringing

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Speaker 4: in outside talent, particularly the executive level, to mix things

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Speaker 4: up and to change things around. Are they able to

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Speaker 4: do that? What do they have to do to kind

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Speaker 4: of re establish themselves here at the vanguard of AI.

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Speaker 3: There's a better chance of me playing in Beth paid

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Speaker 3: Ryder Cup in September. Then then then AI innovation happening

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Speaker 3: from Apple, and I think that's the issue that they

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Speaker 3: got to go outside.

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Speaker 4: It has to be good to make that work.

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Speaker 1: Dan I's with Red Bush with us this morning, David Gerrin,

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Speaker 1: Tim Can Good Morning across the Nation and the way

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Speaker 1: you listen to us on radio Good Morning ninety to

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Speaker 1: nine FM in Boston, on YouTube and your home at

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Speaker 1: your office floored by the sign up Thank you so much,

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Speaker 1: Bloomberg Podcast, go out to YouTube and subscribe it Bloomberg Podcasts.

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Speaker 1: Thank you for your attention to our new dan Ives

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Speaker 1: like digital. Maybe I should start wearing bright pink.

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Speaker 2: What do you think, David, I could see that. Why

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Speaker 2: don't you continue with.

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Speaker 3: Mister, I've talked about the pink bowtie for I know what.

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Speaker 4: The hoodie beneath the jacket would be a good look

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Speaker 4: for you.

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Speaker 3: I think I thought dan Ives clothing we could add

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Speaker 3: potentially a bow tie and it would be called a.

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Speaker 2: Everything is like two X, you know, it's like for

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Speaker 2: little people. What's the name of the company.

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Speaker 3: It's snow milk.

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Speaker 2: My carse snow milk. They got to make like adult

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Speaker 2: sizes like we have six.

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Speaker 3: I think we go down the route with a keen

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Speaker 3: bow tie. I have been I'm actually average a very.

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Speaker 2: Good David jump in.

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Speaker 4: Can I go back to Oracle? I diverted over to

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Speaker 4: to appled love to go back to Oracle? What should

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Speaker 4: we make How quickly they were able to make this,

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Speaker 4: this pivot, What does it say about sort of the

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Speaker 4: future direction of Oracle moving into cloud computing as rapidly

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Speaker 4: as it did, as successfully as it did. Certainly, when

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Speaker 4: you look at the numbers.

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Speaker 3: Guess who's watching quot so you see what they did.

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Speaker 3: It's Bennioff, it's Adobee, it's software where right now they're

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Speaker 3: not the cool kids table. I mean what Oracle has

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Speaker 3: been able to do because of the stack, right it's

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Speaker 3: it's been transformational. And I think that more is where

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Speaker 3: we're seeing. Everyone wants that. That two to three trillion

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Speaker 3: of cat backs, everyone wants it.

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Speaker 1: Doug Cass emails in Okay, he's beside himself about the

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Speaker 1: Yankees defense.

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Speaker 2: They're averaging like three years a game.

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Speaker 1: I mean, it's sad. Aaron Judge should be at first base,

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Speaker 1: Dan ives. Doug Cass has a question for you, the

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Speaker 1: backlog dynamic versus the accounting on the statements.

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Speaker 2: Is this an accounting issue to.

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Speaker 1: Come not only for Oracle but for other mag seven

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Speaker 1: and that there's so much future business that needs to

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Speaker 1: adjust in the accounting statement.

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Speaker 2: Is that a risk?

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Speaker 3: And I hope Doug's doing well. It's a good question.

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Speaker 3: I think there's definitely some normalization that's going to have

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Speaker 3: to happen there over the coming quarters. So you got

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Speaker 3: to normalize it, you know, from a backlock perspective in

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Speaker 3: terms of arr look, I think the reality is is

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Speaker 3: that over the coming quarters. That's where like look for Oracle,

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Speaker 3: if you got if you're the amount of stock that

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Speaker 3: could go to three fifty four hundred. You got to

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Speaker 3: continue to show this because you as the normalization starts

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Speaker 3: to happen, the comps ultimately start take place. You need

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Speaker 3: to continue to see that growth.

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Speaker 2: You mentioned Google and Gemini. What are they waiting for?

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Speaker 3: They were waiting they were waiting for DOJ mean that?

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Speaker 3: And now the candlelight dinner could happen between the soon

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Speaker 3: Dar and Cook And I believe that is Look because

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Speaker 3: I truly and we've talked about if did doo J

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Speaker 3: went negative toward an Apple Google, then they have no

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Speaker 3: choice called proplexity on the red phone and they have

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Speaker 3: to do that deal. But now I think they double

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Speaker 3: down the job they're waiting for.

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Speaker 2: Is it literally like just Egos, they have to wait

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Speaker 2: a little bit of time.

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Speaker 3: I think you wait a little time. Look, and we

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Speaker 3: also know like in Cooper Tino, there is a part

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Speaker 3: of it that runs like a motor vehicle in New Jersey,

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Speaker 3: and that's been some of the issue in terms of

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Speaker 3: some of the bureaucracy that they're trying to get rid

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Speaker 3: of in terms of the red tape.

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Speaker 4: Going back to the Oracle numbers, So say Sundor is

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Speaker 4: tuning in to watch Romain and number yesterday, care or

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Speaker 4: Andy stealing it up in that Seattle? What do they

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Speaker 4: make of those Oracle numbers? How much are they worried

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Speaker 4: about the progress of the Oracles made here?

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Speaker 3: And how did they I think they actually love seeing

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Speaker 3: those numbers because they view it. And that's why I

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Speaker 3: like what you see with Google's jesz B. It's it's

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Speaker 3: a barometer that shows where that's coming. That's why Nadella,

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Speaker 3: he's sitting there with the Mimosa right now watching those numbers.

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Speaker 1: I mean, do you want to mention Oracles put their

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Speaker 1: support by in Bloomberg surveillance. We thank Oracle for their

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Speaker 1: support each and every day. What's your single best buy?

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Speaker 3: I mean, to me, single best buy here continues to

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Speaker 3: be Microsoft just because of my view of because of

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Speaker 3: where the hyperscalers are. It's in their backyard. Stock actually

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Speaker 3: sold off a little postcord and I think that's one

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Speaker 3: they will ultimately join in video what's eventually.

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Speaker 2: Gonna be there? Twent this year and you say way more.

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Speaker 3: Just to we've talked about it's just to begin. We

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Speaker 3: are in the second inning of the Ai Revolution, going

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Speaker 3: ninth and we've talked about the party start at nine pm,

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Speaker 3: is now ten pm goes to four am on the

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Speaker 3: dance for is Nedella Jensen, Pound Teer Carp and others.

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Speaker 1: People think guy says a romantic life. Let's make it clear.

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Speaker 1: You just got off the romantic red eye.

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Speaker 3: I just got off the romainer Carol and Tim. Right, Yeah,

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Speaker 3: I was there rocking today and actually I went. I

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Speaker 3: went from Australia to Huntington Beach to now here with

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Speaker 3: you guys.

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Speaker 4: Appreciate that lay flat beds as you were talking about yesterday.

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Speaker 2: But he's a little guy. It's like it's a little guy. No, No,

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Speaker 2: the lafe flat bed works. There's no light flat bed

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Speaker 2: for me. Yeah.

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Speaker 3: But the problem is that's why you're the one that

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Speaker 3: does like the special cabin in emerates so the player,

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Speaker 3: but the keen cabin and the whole king shower in this.

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Speaker 2: Disclosure law premiere in France. But it's great.

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Speaker 3: It's like a huge cabin, of course, but you set

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Speaker 3: a higher standard.

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Speaker 2: It does. I don't know, I don't know. Some tennis

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Speaker 2: player was sitting next to me.

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Speaker 3: It's actually it's actually Keyn's where we all pay rent.

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Speaker 1: Dan, thank you for explaining whatever your new business transaction is.

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Speaker 1: I still don't get.

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Speaker 3: ORBS coming to you soon, and I'll bring it next time. Okay,

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Speaker 3: that's really small. We'll bring the orban next time. Will

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Speaker 3: get skinned?

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Speaker 4: John skeptical keep those eyes closed.

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Speaker 3: Uh, we're bringing in for him too, Dan, thank you

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Speaker 3: so much.

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Speaker 2: I gotta sell the show. Dan Hight's Wedbush Securities