1 00:00:02,520 --> 00:00:13,400 Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. Bloomberg Tech is live 2 00:00:13,440 --> 00:00:17,239 Speaker 1: from coast to coast with Caroline Hide in New York 3 00:00:17,520 --> 00:00:19,520 Speaker 1: and Eda Loow in San Francisco. 4 00:00:23,480 --> 00:00:25,840 Speaker 2: Welcome to a special edition of Bloomberg Tech. 5 00:00:25,880 --> 00:00:27,960 Speaker 3: We are live from CS in Las Vegas, where we've 6 00:00:28,000 --> 00:00:32,320 Speaker 3: been tracking the biggest tech stories. Another great lineup of 7 00:00:32,320 --> 00:00:35,240 Speaker 3: incredible guests today, but we've also got some news outside. 8 00:00:34,960 --> 00:00:37,680 Speaker 4: Of CS right then, Yeah, Coming up first, China plans 9 00:00:37,720 --> 00:00:41,160 Speaker 4: to approve some imports of Nvidia's eight two hundred ships 10 00:00:41,200 --> 00:00:44,680 Speaker 4: as soon as this quarter for select commercial use. 11 00:00:44,520 --> 00:00:48,640 Speaker 3: Plus AI evaluations, pushing ever higher anthropic raising a new 12 00:00:48,720 --> 00:00:50,800 Speaker 3: round of funding that would value the company at three 13 00:00:50,920 --> 00:00:52,400 Speaker 3: hundred and fifty billion dollars. 14 00:00:52,479 --> 00:00:55,360 Speaker 4: And we wrap this special CES edition today with guests 15 00:00:55,560 --> 00:01:00,600 Speaker 4: from the robotics and augmented reality spaces, venture Capital and the. 16 00:01:00,720 --> 00:01:02,720 Speaker 3: First we check in on these markets that are in 17 00:01:02,720 --> 00:01:05,200 Speaker 3: a bit of sell off mode. Look anxiety ahead of 18 00:01:05,680 --> 00:01:08,200 Speaker 3: those non farm payrolls data that we get tomorrow, and 19 00:01:08,240 --> 00:01:10,600 Speaker 3: no one taking on any more risk after what I've 20 00:01:10,640 --> 00:01:13,840 Speaker 3: been a really rather nice run up in tech stocks 21 00:01:13,880 --> 00:01:15,240 Speaker 3: over the last free trading days. 22 00:01:15,240 --> 00:01:16,600 Speaker 2: So today maybe we sell the news. 23 00:01:16,640 --> 00:01:19,039 Speaker 3: Today We're off by some six tens of percent, but 24 00:01:19,120 --> 00:01:20,520 Speaker 3: all eyes really on one keeper. 25 00:01:20,600 --> 00:01:22,520 Speaker 4: Yeah, like your chart is showing that actually, you know, 26 00:01:22,520 --> 00:01:27,080 Speaker 4: we'd be kind of lower. Wiggling around throughout the early session, Nvidia. 27 00:01:26,520 --> 00:01:28,440 Speaker 5: Has taken a significant. 28 00:01:27,880 --> 00:01:31,840 Speaker 4: Leg lower this Thursday, it's now off two percent. The 29 00:01:32,040 --> 00:01:37,120 Speaker 4: reporting is crystal clear from Bloomberg. According to sources, China's 30 00:01:37,160 --> 00:01:42,120 Speaker 4: government will approve some Chinese tech companies taking H two hundreds. 31 00:01:42,480 --> 00:01:45,000 Speaker 4: That sources are giving details on which companies, But the 32 00:01:45,000 --> 00:01:48,240 Speaker 4: crystal clear line is has to be commercial use, cannot 33 00:01:48,240 --> 00:01:51,400 Speaker 4: be military, cannot be some government, cannot. 34 00:01:51,040 --> 00:01:52,760 Speaker 5: Be state backed enterprise. 35 00:01:53,080 --> 00:01:56,160 Speaker 4: Let's get out to Washington, DC and Bloomberg Senior Tech 36 00:01:56,280 --> 00:01:59,840 Speaker 4: editor Mike Shephard, there's a lot of specifics in this report. 37 00:02:00,800 --> 00:02:04,440 Speaker 4: Give us those specifics, what we know about the companies involved, 38 00:02:04,920 --> 00:02:07,240 Speaker 4: and also the volumes, because that's going to matter to 39 00:02:07,280 --> 00:02:07,640 Speaker 4: the stock. 40 00:02:09,000 --> 00:02:11,480 Speaker 6: Well, the volumes are a little bit unclear as far 41 00:02:11,520 --> 00:02:14,639 Speaker 6: as what the Chinese government would approve, but we already 42 00:02:14,680 --> 00:02:17,720 Speaker 6: are getting some signals according to our reporting that companies 43 00:02:17,840 --> 00:02:21,120 Speaker 6: like Byteedance and by Do would be interested in buying 44 00:02:21,360 --> 00:02:25,280 Speaker 6: up to two hundred thousand Nvidia H two hundred chips 45 00:02:25,320 --> 00:02:30,080 Speaker 6: each once those approvals go through. Now it's unclear whether China, 46 00:02:30,240 --> 00:02:33,840 Speaker 6: the authorities in Beijing, will allow those kinds of quantities 47 00:02:33,919 --> 00:02:37,120 Speaker 6: right away into the market. And it's important to remember 48 00:02:37,200 --> 00:02:40,160 Speaker 6: also that look, there are restrictions still in place here 49 00:02:40,200 --> 00:02:43,560 Speaker 6: from the US. Even with President Donald Trump's verbal blessing 50 00:02:43,680 --> 00:02:46,760 Speaker 6: for this, we still need to see licenses emitted by 51 00:02:46,760 --> 00:02:50,760 Speaker 6: the Commerce Department. That process is still underway. Jensen Wong 52 00:02:50,840 --> 00:02:53,120 Speaker 6: and your interview with him the other day indicated that 53 00:02:53,200 --> 00:02:56,120 Speaker 6: he was optimistic that those would go through, and likewise 54 00:02:56,120 --> 00:03:00,120 Speaker 6: this would affect AMD, which also has chips that is 55 00:03:00,120 --> 00:03:01,840 Speaker 6: is hoping to get into China as well. 56 00:03:02,320 --> 00:03:03,280 Speaker 7: Look for in Vidio. 57 00:03:03,360 --> 00:03:06,520 Speaker 6: This is a big win if it all goes through. 58 00:03:06,639 --> 00:03:09,800 Speaker 6: As we are outlining in this report, China is the 59 00:03:09,840 --> 00:03:13,359 Speaker 6: world's biggest semiconductor market, and Jensen Wong has identified it 60 00:03:13,400 --> 00:03:16,960 Speaker 6: as a fifty billion dollar opportunity for the company. 61 00:03:16,800 --> 00:03:18,079 Speaker 7: And the timing is crucial. 62 00:03:18,360 --> 00:03:22,800 Speaker 6: They are facing intensifying competition from rivals inside China, including 63 00:03:22,840 --> 00:03:26,600 Speaker 6: camera Con and SMIC, which are making strides in the 64 00:03:26,639 --> 00:03:30,440 Speaker 6: development of their own homegrown semiconductors, and we have also 65 00:03:30,560 --> 00:03:33,680 Speaker 6: seen signals from authorities in Beijing that they would like 66 00:03:33,760 --> 00:03:38,200 Speaker 6: local companies to start favoring domestic alternatives to in video 67 00:03:38,600 --> 00:03:41,040 Speaker 6: over whatever it might be coming from the US. 68 00:03:44,400 --> 00:03:47,520 Speaker 2: Mike Shepherd, as always, thank you so much. From Washington. 69 00:03:47,720 --> 00:03:49,160 Speaker 2: We're going to stick with a theme of. 70 00:03:49,080 --> 00:03:50,880 Speaker 3: AI, of course we are, but this time I'm going 71 00:03:50,920 --> 00:03:53,760 Speaker 3: to look at it from valuation perspective. Ed because Athropic 72 00:03:53,920 --> 00:03:56,520 Speaker 3: the latest news that it's outlooking and raising some ten 73 00:03:56,560 --> 00:03:57,720 Speaker 3: billion dollars is. 74 00:03:57,720 --> 00:03:58,840 Speaker 2: Before that raise value. 75 00:03:58,840 --> 00:04:01,120 Speaker 3: Therefore, at three hundred and fifty billion dollars, we know 76 00:04:01,240 --> 00:04:03,440 Speaker 3: open Ai is out there also raising funds could be 77 00:04:03,440 --> 00:04:05,800 Speaker 3: as whopping as seven hundred and fifty billion dollars. All 78 00:04:05,800 --> 00:04:08,040 Speaker 3: of this is we I potentially these companies coming to 79 00:04:08,120 --> 00:04:08,640 Speaker 3: the public. 80 00:04:08,480 --> 00:04:09,080 Speaker 2: Markets as well. 81 00:04:09,120 --> 00:04:11,240 Speaker 4: I've been speaking to some of the investors backing this 82 00:04:11,400 --> 00:04:14,520 Speaker 4: round ten billion dollars, three hundred and fifty billion dollar valuation. 83 00:04:15,040 --> 00:04:18,000 Speaker 4: They don't have the scale that open ai has right, 84 00:04:18,200 --> 00:04:20,039 Speaker 4: but they've gone after the enterprise. And the way that 85 00:04:20,040 --> 00:04:22,279 Speaker 4: one investor put it to me is there are four 86 00:04:22,279 --> 00:04:27,400 Speaker 4: players right now, open Ai, Xai, Anthropic, and Google. There's 87 00:04:27,440 --> 00:04:29,880 Speaker 4: probably only room in the real world for three. But 88 00:04:29,960 --> 00:04:31,800 Speaker 4: it's interesting to see them continue. 89 00:04:31,480 --> 00:04:33,920 Speaker 3: Raise and just how sophisticated they are when it comes 90 00:04:34,000 --> 00:04:36,400 Speaker 3: to the coding side of the equation that really seems 91 00:04:36,400 --> 00:04:36,800 Speaker 3: to have been. 92 00:04:36,680 --> 00:04:37,680 Speaker 2: Where they've made their mark. 93 00:04:37,720 --> 00:04:39,960 Speaker 3: But also they're trying to say that they are well 94 00:04:40,080 --> 00:04:44,080 Speaker 3: the safer, more focused on ethics in some ways they 95 00:04:44,080 --> 00:04:46,520 Speaker 3: split off from open ai to remember that's what their 96 00:04:46,720 --> 00:04:47,600 Speaker 3: origin story is. 97 00:04:47,640 --> 00:04:49,680 Speaker 4: And in your interview with he Montonees, you're getting a 98 00:04:49,720 --> 00:04:51,200 Speaker 4: lot of credit for that coding. 99 00:04:50,880 --> 00:04:51,640 Speaker 8: Piece as well. 100 00:04:52,040 --> 00:04:54,679 Speaker 4: Another big story of the morning, and it's a jostling 101 00:04:54,760 --> 00:04:57,440 Speaker 4: for position once again, we're looking at the market cap 102 00:04:57,760 --> 00:05:02,159 Speaker 4: of Google or Alphabet the parent Google rising above Apple. 103 00:05:02,200 --> 00:05:03,040 Speaker 8: What did I just say? 104 00:05:03,080 --> 00:05:07,640 Speaker 4: In this world order four players right now? Alphabet and 105 00:05:07,720 --> 00:05:11,720 Speaker 4: Google have really accelerated in recent months, both literally from 106 00:05:11,760 --> 00:05:14,480 Speaker 4: a stock performance perspective, but also just I guess by 107 00:05:14,520 --> 00:05:18,080 Speaker 4: news flow and reputation and Apple it's a different game, right. 108 00:05:18,640 --> 00:05:21,839 Speaker 4: But yeah, this is one that I didn't see coming 109 00:05:22,480 --> 00:05:24,400 Speaker 4: last year or at least as you know, at any 110 00:05:24,440 --> 00:05:24,839 Speaker 4: point that. 111 00:05:25,600 --> 00:05:28,120 Speaker 3: Story, that TVU story just changed everything didn't and the 112 00:05:28,200 --> 00:05:29,479 Speaker 3: vertical integration. 113 00:05:29,279 --> 00:05:33,080 Speaker 4: Okay, coming up, humanoid robotics takes shape right here at CEES. 114 00:05:33,400 --> 00:05:35,880 Speaker 4: We're going to discuss the future of physical AI with 115 00:05:36,000 --> 00:05:40,119 Speaker 4: Jan Liphart, founder and CEO of open mind a's next. 116 00:05:40,480 --> 00:05:41,360 Speaker 5: This is Bloomberg Tech. 117 00:05:49,760 --> 00:05:52,680 Speaker 4: Here at ces Physical AI is breaking through to the 118 00:05:52,760 --> 00:05:56,080 Speaker 4: mainstream with humanoid robotics taking set of stage. Joining us 119 00:05:56,320 --> 00:05:58,960 Speaker 4: is Yan Lipart, founder and CEO of open Mind, a 120 00:05:59,080 --> 00:06:02,800 Speaker 4: startup building an parading system design to connect, coordinate, and 121 00:06:02,839 --> 00:06:07,719 Speaker 4: scale intelligence across all thinking machines. There are so many 122 00:06:08,000 --> 00:06:10,279 Speaker 4: things to take away from being here this week. Let's, 123 00:06:10,360 --> 00:06:13,760 Speaker 4: I think, focus on the humanoid robot form factor at least, 124 00:06:14,240 --> 00:06:18,240 Speaker 4: but your main impression with those on display, I think 125 00:06:18,320 --> 00:06:21,200 Speaker 4: Atlas is probably top of mind for many. Last night 126 00:06:21,240 --> 00:06:24,239 Speaker 4: when I was here with Boston Dynamics CEO wrote place 127 00:06:24,680 --> 00:06:27,920 Speaker 4: the weights to go and see Atlas was two hours. 128 00:06:28,400 --> 00:06:29,120 Speaker 5: What do you make of that? 129 00:06:29,960 --> 00:06:32,800 Speaker 9: Well, just a few years ago, the robots here were 130 00:06:32,839 --> 00:06:35,640 Speaker 9: kind of yanky, they were wobbly, and they had wires 131 00:06:35,680 --> 00:06:38,919 Speaker 9: coming out of their head, and they looked like science experiments. 132 00:06:39,480 --> 00:06:43,480 Speaker 9: And it's really fascinating to see just how quickly humanoids 133 00:06:43,520 --> 00:06:47,520 Speaker 9: are turning into a real product. And Atlas is of 134 00:06:47,560 --> 00:06:52,160 Speaker 9: course just one of those. So instead of them being 135 00:06:52,760 --> 00:06:57,640 Speaker 9: science experiments, they look like real things that you might 136 00:06:57,680 --> 00:07:00,000 Speaker 9: want to have in your home or in your workplace. 137 00:07:00,440 --> 00:07:01,280 Speaker 8: You're also a. 138 00:07:01,200 --> 00:07:05,880 Speaker 4: Professor at Stanford, And you know, the academic discussion here, 139 00:07:05,880 --> 00:07:09,720 Speaker 4: which I've loved, has been, hey, guys, we think we've solved. 140 00:07:09,400 --> 00:07:13,440 Speaker 5: The software problem. Have we solved the software problem? 141 00:07:13,960 --> 00:07:18,400 Speaker 9: Well, when people talk about humanoids, everyone has a different 142 00:07:18,480 --> 00:07:19,520 Speaker 9: picture of what. 143 00:07:19,400 --> 00:07:20,840 Speaker 8: The humanoid is going to do. 144 00:07:21,600 --> 00:07:24,120 Speaker 9: If you're talking about a humanoid for a hospital, that's 145 00:07:24,160 --> 00:07:28,920 Speaker 9: a totally different situation compared to a humanoid flipping hamburgers 146 00:07:29,200 --> 00:07:30,800 Speaker 9: or teaching kids math. 147 00:07:31,440 --> 00:07:33,560 Speaker 8: So it really depends on the point. 148 00:07:33,360 --> 00:07:35,200 Speaker 4: We're moving a box from one part of the tables 149 00:07:35,240 --> 00:07:37,880 Speaker 4: the other part of the table is no longer impressive. 150 00:07:37,480 --> 00:07:38,880 Speaker 8: So that's completely solved. 151 00:07:38,920 --> 00:07:43,280 Speaker 9: And Amazon has one point one million robots deployed already, 152 00:07:43,760 --> 00:07:48,280 Speaker 9: so the logistics pick in place is effectively solved. One 153 00:07:48,320 --> 00:07:51,960 Speaker 9: frontier is what you might call social robotics. So these 154 00:07:51,960 --> 00:07:54,640 Speaker 9: are the robots that will live with you, and they 155 00:07:54,680 --> 00:07:57,280 Speaker 9: will teach your kids, and they will help your parents. 156 00:07:57,520 --> 00:08:01,960 Speaker 9: And that is still more different because there's a lot 157 00:08:02,000 --> 00:08:04,760 Speaker 9: of what we expect when we interact with people, their 158 00:08:04,800 --> 00:08:07,840 Speaker 9: ability to make us laugh and speak and be quick 159 00:08:07,880 --> 00:08:10,680 Speaker 9: and so forth. That is still difficult. But basics like 160 00:08:10,760 --> 00:08:12,440 Speaker 9: picking things up, that's solved. 161 00:08:13,280 --> 00:08:15,680 Speaker 2: When we think about the solution of integration. 162 00:08:15,840 --> 00:08:17,600 Speaker 3: A lot of companies want to talk about how they're 163 00:08:17,640 --> 00:08:20,720 Speaker 3: the vertically integrated company. They are making not just the hardware, 164 00:08:20,720 --> 00:08:22,920 Speaker 3: but the software too. So where are you getting an 165 00:08:22,920 --> 00:08:25,440 Speaker 3: in how many of these fourteen humanoids we see here 166 00:08:25,480 --> 00:08:28,080 Speaker 3: at CES are you putting your open software to work in? 167 00:08:28,840 --> 00:08:30,760 Speaker 8: Well, it's about half of them. 168 00:08:31,480 --> 00:08:37,040 Speaker 9: And for many humanoid robotics companies, they have a traditional 169 00:08:37,080 --> 00:08:42,920 Speaker 9: focus on hardware and they're seeing the software move extremely quickly, 170 00:08:43,440 --> 00:08:45,679 Speaker 9: and some of them have the sense that they don't 171 00:08:45,720 --> 00:08:49,240 Speaker 9: have the inherent capability to also be at the frontier 172 00:08:49,280 --> 00:08:53,000 Speaker 9: of the software, and that's where we're getting traction for us. 173 00:08:53,480 --> 00:08:55,040 Speaker 3: I want to go back to the very thesis of 174 00:08:55,600 --> 00:08:58,360 Speaker 3: whether you want a humanoid at all. Buston Dynamics perspective 175 00:08:58,400 --> 00:09:02,160 Speaker 3: is in the interim we have manufacturing units that are 176 00:09:02,160 --> 00:09:04,560 Speaker 3: purpose built for robots. Humanoid makes sense because it has 177 00:09:04,559 --> 00:09:07,320 Speaker 3: to work side along humans and augment them or at 178 00:09:07,360 --> 00:09:09,400 Speaker 3: least replace them eventually. 179 00:09:09,440 --> 00:09:11,000 Speaker 2: Maybe that's not the form factor we want. 180 00:09:11,200 --> 00:09:13,040 Speaker 3: I don't think I want a form factor of humanoid 181 00:09:13,040 --> 00:09:15,080 Speaker 3: in my home, to be perfectly frank, you're seeing a 182 00:09:15,080 --> 00:09:17,160 Speaker 3: lot more of these sort of soft, cuddly toys for 183 00:09:17,760 --> 00:09:20,920 Speaker 3: companionship and the way that they talk. What will robots 184 00:09:21,000 --> 00:09:22,120 Speaker 3: look like in the future. 185 00:09:22,480 --> 00:09:25,880 Speaker 9: Well, I have a humanoid at home and my kids 186 00:09:26,360 --> 00:09:31,360 Speaker 9: casual and my humanoid. My kids thinks that is totally 187 00:09:31,400 --> 00:09:36,640 Speaker 9: normal because for them, they've seen that for literally two 188 00:09:36,720 --> 00:09:40,000 Speaker 9: years now. And however, when I talk to my mom, 189 00:09:40,080 --> 00:09:43,319 Speaker 9: I sent my mom some videos of the humanoids here 190 00:09:45,600 --> 00:09:51,640 Speaker 9: iris iris iris. No, this is hardware developed by someone else. 191 00:09:51,640 --> 00:09:54,360 Speaker 9: Of course, it's running the software I wrote, which is 192 00:09:54,360 --> 00:09:57,040 Speaker 9: why I trust it, because I know exactly what's going 193 00:09:57,080 --> 00:10:00,400 Speaker 9: on inside the humanoid. But yeah, I sent my mom 194 00:10:00,520 --> 00:10:03,800 Speaker 9: some videos of humanoids around here, and she said, Yanni, 195 00:10:04,120 --> 00:10:09,400 Speaker 9: I'm shocked. This is awesome. So to your original point, 196 00:10:09,559 --> 00:10:12,319 Speaker 9: what is the right form factor? What's special about a 197 00:10:12,400 --> 00:10:16,679 Speaker 9: humanoid is that they're by definition compatible with your home, 198 00:10:16,920 --> 00:10:23,199 Speaker 9: a hospital, school, workplace, door handles, light switches, stairs, so 199 00:10:23,679 --> 00:10:27,480 Speaker 9: they can immediately be effective in all the infrastructure that 200 00:10:27,559 --> 00:10:28,800 Speaker 9: humans have built for us. 201 00:10:29,240 --> 00:10:31,839 Speaker 4: This is why it's important to get as far as 202 00:10:31,840 --> 00:10:34,400 Speaker 4: you can be an objective take on the state of industry. 203 00:10:34,760 --> 00:10:37,040 Speaker 4: Right the problem we started the segment though, saying it's 204 00:10:37,080 --> 00:10:40,000 Speaker 4: broken through to the mainstream. Actually, there is a lot 205 00:10:40,000 --> 00:10:42,800 Speaker 4: of fatigue, just like there was with ROBOTAXI. We've been 206 00:10:42,800 --> 00:10:45,559 Speaker 4: saying it's coming, it's coming, it's coming. What I see 207 00:10:45,840 --> 00:10:49,520 Speaker 4: is in the industrial use cases, it's there. But one 208 00:10:49,520 --> 00:10:51,000 Speaker 4: thing that came up with us a lot this week, 209 00:10:51,360 --> 00:10:53,760 Speaker 4: care of the elderly. Yeah, are we really in a 210 00:10:53,800 --> 00:10:57,480 Speaker 4: position where overnight humanoid robots are going to solve what 211 00:10:57,559 --> 00:10:59,240 Speaker 4: is a massive addressable market? 212 00:10:59,600 --> 00:11:06,760 Speaker 9: Well to some people that sounds dystopian and creepy. Is 213 00:11:06,800 --> 00:11:11,840 Speaker 9: it something you imagined that your parents would interact with robots? 214 00:11:13,120 --> 00:11:17,640 Speaker 9: But some of the companies building robots for memory care facilities, 215 00:11:17,760 --> 00:11:22,079 Speaker 9: like Andromeda in San Francisco and Australia, the stories they 216 00:11:22,120 --> 00:11:26,600 Speaker 9: tell are heartbreaking, where nurses now have to clean the 217 00:11:26,640 --> 00:11:30,560 Speaker 9: head of the humanoid every evening because the patients will 218 00:11:30,679 --> 00:11:34,120 Speaker 9: kiss the humanoid. So the nurses now have to remove 219 00:11:34,160 --> 00:11:37,839 Speaker 9: lipstick off the head of humanoid. And so for many 220 00:11:38,000 --> 00:11:42,520 Speaker 9: people that are starved of human interaction, they get so 221 00:11:42,640 --> 00:11:45,040 Speaker 9: attached to the humanoid and their eyes light up and 222 00:11:45,080 --> 00:11:47,439 Speaker 9: they laugh and they will kiss the head of the humanoid. 223 00:11:47,840 --> 00:11:51,400 Speaker 9: And so there's definitely something there. And for most people 224 00:11:51,440 --> 00:11:53,960 Speaker 9: in retirement homes here in the US, they haven't been 225 00:11:54,080 --> 00:11:58,400 Speaker 9: visited by their family members in a year or more so, 226 00:11:58,720 --> 00:12:01,480 Speaker 9: it's a group of people that are really starved for 227 00:12:01,600 --> 00:12:05,120 Speaker 9: any kind of interaction, and some of them really seem 228 00:12:05,200 --> 00:12:07,040 Speaker 9: to love the technology. 229 00:12:07,200 --> 00:12:09,080 Speaker 3: I mean, yeah, and that speaks to a greater problem 230 00:12:09,080 --> 00:12:12,719 Speaker 3: in humanity writ large, I want your take, if I 231 00:12:12,760 --> 00:12:15,440 Speaker 3: dare go back to open mind itself, where do you 232 00:12:15,440 --> 00:12:16,080 Speaker 3: make your money? 233 00:12:16,679 --> 00:12:17,160 Speaker 7: Ah? 234 00:12:17,200 --> 00:12:19,959 Speaker 9: Well, we have a little bit of a different take 235 00:12:20,040 --> 00:12:23,000 Speaker 9: on humanoids. We don't want them to be closed. We 236 00:12:23,040 --> 00:12:25,839 Speaker 9: don't want them to be these magic boxes that show 237 00:12:25,920 --> 00:12:28,280 Speaker 9: up at your front door. We think of them much 238 00:12:28,320 --> 00:12:32,680 Speaker 9: more like cell phones that are open and where developers 239 00:12:32,720 --> 00:12:37,400 Speaker 9: everywhere can add apps or skills that will allow your 240 00:12:37,520 --> 00:12:41,000 Speaker 9: humanoids to do many more things very quickly. And so 241 00:12:41,040 --> 00:12:43,800 Speaker 9: it's very important to us that this technology is not 242 00:12:43,880 --> 00:12:46,960 Speaker 9: like this magic black box, but it's something that most 243 00:12:47,000 --> 00:12:49,720 Speaker 9: of us understand can engage with and build for. 244 00:12:50,480 --> 00:12:50,640 Speaker 5: Yeah. 245 00:12:51,160 --> 00:12:53,360 Speaker 2: Great catching up with you, Thank you for spending some time. 246 00:12:53,400 --> 00:12:54,120 Speaker 8: Thank you so much. 247 00:12:54,360 --> 00:12:57,480 Speaker 3: Yeah, and I've found our CEO of open Mind speaking 248 00:12:57,480 --> 00:12:59,720 Speaker 3: with robots. Well, I got to sit down in Boston 249 00:12:59,760 --> 00:13:02,680 Speaker 3: dine to you, Robert Plater, to discuss the company's latest 250 00:13:02,720 --> 00:13:05,480 Speaker 3: situation of a humanoid robot that's Atlas, designed to work 251 00:13:05,520 --> 00:13:08,520 Speaker 3: in hyndized manufacturing plants studying in twenty twenty eight, including 252 00:13:08,520 --> 00:13:09,880 Speaker 3: a factory in Savannah, Georgia. 253 00:13:09,960 --> 00:13:10,480 Speaker 5: Thank listen. 254 00:13:12,120 --> 00:13:14,280 Speaker 10: By twenty twenty eight, Hyundai's going to build us a 255 00:13:14,320 --> 00:13:18,640 Speaker 10: purpose built factory designed for mass manufacture of our humanoids, 256 00:13:18,760 --> 00:13:20,800 Speaker 10: and that's going to have a capacity of between ten 257 00:13:20,840 --> 00:13:23,280 Speaker 10: and thirty thousand units per year, And so that's the goal. 258 00:13:23,320 --> 00:13:26,240 Speaker 10: By twenty thirty, we'll be building tens of thousands of 259 00:13:26,320 --> 00:13:27,040 Speaker 10: robots per year. 260 00:13:28,000 --> 00:13:30,000 Speaker 4: I've always wanted to ask you, and I'm going to 261 00:13:30,040 --> 00:13:35,000 Speaker 4: ask you your analysis and impressions of Tesla's Optimist program 262 00:13:35,360 --> 00:13:38,679 Speaker 4: and your assessment of what they're doing and what they've done. 263 00:13:39,040 --> 00:13:39,240 Speaker 2: Well. 264 00:13:39,280 --> 00:13:42,480 Speaker 10: I think they're a very serious competitor. They've done a 265 00:13:42,520 --> 00:13:45,560 Speaker 10: lot of very impressive work. They also have the advantages 266 00:13:45,600 --> 00:13:51,640 Speaker 10: we have that they have a consumer in Tesla to 267 00:13:51,760 --> 00:13:53,080 Speaker 10: use those robots internally. 268 00:13:53,200 --> 00:13:53,920 Speaker 7: Yeah, and I. 269 00:13:54,320 --> 00:13:57,599 Speaker 10: Think it really requires both aspects. You need the technology 270 00:13:58,480 --> 00:14:03,400 Speaker 10: from robotics AI, you also need that customer and that consumer, 271 00:14:03,840 --> 00:14:06,760 Speaker 10: and so automotive is a natural fit and so I 272 00:14:06,760 --> 00:14:10,800 Speaker 10: think Tesla is actually very well placed to succeed here 273 00:14:10,840 --> 00:14:11,200 Speaker 10: as well. 274 00:14:12,480 --> 00:14:15,559 Speaker 4: That was Boston Dynamics SEO Robert Playton coming up here 275 00:14:15,559 --> 00:14:18,959 Speaker 4: on the show. Next, X Reel revamped its ar glasses. 276 00:14:19,360 --> 00:14:22,400 Speaker 4: Is the wearable space is seeing more competition. We speak 277 00:14:22,400 --> 00:14:24,000 Speaker 4: with x Real CEO Czu. 278 00:14:24,320 --> 00:14:24,840 Speaker 8: That's next. 279 00:14:25,000 --> 00:14:36,000 Speaker 4: This is Bloomberg Tech. AI will bring out a renaissance 280 00:14:36,120 --> 00:14:39,080 Speaker 4: to the field of music. That's according to Grammy. 281 00:14:38,800 --> 00:14:39,720 Speaker 5: Winning a artist. 282 00:14:40,120 --> 00:14:43,440 Speaker 4: Will I am also the founder and CEO of f 283 00:14:43,560 --> 00:14:44,680 Speaker 4: Yi dot Ai. 284 00:14:44,720 --> 00:14:45,720 Speaker 5: Bloombers Text. 285 00:14:45,760 --> 00:14:47,960 Speaker 4: Tom McKenny sat down with him for this week's episode 286 00:14:48,080 --> 00:14:51,080 Speaker 4: of Bloomberg Tech Europe, taking a deep dive into how 287 00:14:51,120 --> 00:14:53,920 Speaker 4: AI is shaking up the music industry and the streaming 288 00:14:53,960 --> 00:14:54,560 Speaker 4: business model. 289 00:14:54,600 --> 00:14:55,040 Speaker 5: Listen to this. 290 00:14:56,320 --> 00:15:01,440 Speaker 11: It's a renaissance the same way the renaissance, you know, calapulted, 291 00:15:02,800 --> 00:15:07,960 Speaker 11: you know, dimensionalize the creative industry in the past, the renaissance. 292 00:15:08,080 --> 00:15:11,240 Speaker 11: There's a new renaissance to do it for this era 293 00:15:11,360 --> 00:15:17,040 Speaker 11: that we're in. So it's it's the age of the hypercreative. 294 00:15:21,800 --> 00:15:24,800 Speaker 4: Go catch that episode of Bloomberg Tech Europe this Friday 295 00:15:24,880 --> 00:15:29,040 Speaker 4: here on Bloomberg Television eight thirty am in London. That's 296 00:15:29,040 --> 00:15:30,960 Speaker 4: three thirty in the morning on you in the East Coast. 297 00:15:31,040 --> 00:15:33,920 Speaker 4: But it's worth getting up for. Trust me, Carrow, what's up. 298 00:15:35,000 --> 00:15:37,880 Speaker 3: Meanwhile, let's pivot to the world as smart eyewear. Because 299 00:15:37,880 --> 00:15:40,240 Speaker 3: we're talking with x Real. They've just unveiled new entry 300 00:15:40,320 --> 00:15:43,000 Speaker 3: level al glasses that come at the cheaper price point 301 00:15:43,160 --> 00:15:45,640 Speaker 3: dub the one S. The new glasses boast a one 302 00:15:45,960 --> 00:15:48,120 Speaker 3: two hundred pet resolution with a new price of four 303 00:15:48,200 --> 00:15:51,200 Speaker 3: hundred and twenty nine dollars. X Real CEO Jesus is 304 00:15:51,240 --> 00:15:53,840 Speaker 3: here with us now. Congratulations on the unveiled But we've 305 00:15:53,880 --> 00:15:56,520 Speaker 3: got some news I want to hit first. Sure, you've 306 00:15:56,560 --> 00:15:59,280 Speaker 3: been getting some financing. We understand you're raising money to 307 00:15:59,280 --> 00:16:01,200 Speaker 3: be able to put these new glasses at a cheaper 308 00:16:01,200 --> 00:16:01,640 Speaker 3: price point. 309 00:16:01,880 --> 00:16:02,360 Speaker 7: I agree. 310 00:16:02,480 --> 00:16:04,720 Speaker 12: Yes, it's getting heated up for the whole race, right 311 00:16:05,000 --> 00:16:07,880 Speaker 12: and you know it's getting exciting as well for the 312 00:16:07,920 --> 00:16:10,880 Speaker 12: whole industry to really see glasses can really be the 313 00:16:10,920 --> 00:16:14,080 Speaker 12: next competing platform pair with AI. You know, I think 314 00:16:14,080 --> 00:16:15,960 Speaker 12: at some point they can truly replace the cell phone 315 00:16:15,960 --> 00:16:16,760 Speaker 12: we're using today. 316 00:16:17,080 --> 00:16:19,880 Speaker 3: Going back to the financing, Yeah, raised about one hundred million. 317 00:16:20,120 --> 00:16:23,320 Speaker 3: Able to disclose what valuation. Who's backing you? 318 00:16:24,080 --> 00:16:24,640 Speaker 5: So okay? 319 00:16:24,840 --> 00:16:27,640 Speaker 12: I would say at this moment it's mainly some play 320 00:16:27,720 --> 00:16:30,360 Speaker 12: chain partners and some key vendors. You know, at this 321 00:16:30,400 --> 00:16:33,120 Speaker 12: moment there's not more information I can share, but definitely later. 322 00:16:33,520 --> 00:16:37,160 Speaker 4: But one hundred million dollars as accurate. Yes, I think 323 00:16:37,200 --> 00:16:39,160 Speaker 4: it's a bit of an academic debate to be had here. 324 00:16:39,560 --> 00:16:43,520 Speaker 4: I've used that phrase a lot. But is glasses the 325 00:16:43,560 --> 00:16:46,080 Speaker 4: right form factor? The raise of CEO is actually on 326 00:16:46,080 --> 00:16:50,760 Speaker 4: the program, okay, talking about how headphones might be the 327 00:16:50,800 --> 00:16:54,360 Speaker 4: better form factor in AI world. You know you have 328 00:16:54,400 --> 00:16:58,600 Speaker 4: options in the wearables category. Yep, is he right wrong? 329 00:16:59,080 --> 00:17:01,560 Speaker 12: Well, okay, so I just met him actually a couple 330 00:17:01,560 --> 00:17:04,639 Speaker 12: of days ago. We talk about this as well. We 331 00:17:04,680 --> 00:17:06,879 Speaker 12: talk a little bit about that. But for me, you know, 332 00:17:06,880 --> 00:17:09,119 Speaker 12: from my perspective, I do think glasses it is the 333 00:17:09,240 --> 00:17:12,679 Speaker 12: ultimate conform factor. You know, when we see how we 334 00:17:12,720 --> 00:17:15,680 Speaker 12: actually involve going from the big screen to your laptop 335 00:17:15,760 --> 00:17:18,600 Speaker 12: to your cell phone, the screen is getting closer and closer, 336 00:17:18,880 --> 00:17:21,000 Speaker 12: and what is even closer than your cell phone, it's 337 00:17:21,000 --> 00:17:23,240 Speaker 12: probably going to be this display right in front of 338 00:17:23,320 --> 00:17:26,000 Speaker 12: your eyes. Right and also, in my opinion, with a 339 00:17:26,359 --> 00:17:29,879 Speaker 12: you know, combination of AI, you can actually have AI 340 00:17:30,040 --> 00:17:34,119 Speaker 12: assistant seeing your eye, see what you're seeing, feel and 341 00:17:34,200 --> 00:17:34,960 Speaker 12: hear what you hear. 342 00:17:35,600 --> 00:17:36,440 Speaker 7: Twenty four to seven. 343 00:17:36,920 --> 00:17:39,600 Speaker 12: If that is actually available, I do believe you know, 344 00:17:39,680 --> 00:17:42,440 Speaker 12: there's no other advantage you can compete with the glasses. 345 00:17:43,080 --> 00:17:45,280 Speaker 4: Metta is going to set further right and now put 346 00:17:45,280 --> 00:17:51,720 Speaker 4: the display in worries you, doesn't worry you. 347 00:17:50,760 --> 00:17:52,920 Speaker 12: No, No, I think you know, it's a great competition. 348 00:17:53,200 --> 00:17:55,720 Speaker 12: You know, Meta definitely have a lot of advantages. You know, 349 00:17:55,720 --> 00:17:57,960 Speaker 12: they have a lot of investment, great talent, and they 350 00:17:57,960 --> 00:17:59,200 Speaker 12: start really really early. 351 00:17:59,480 --> 00:18:00,240 Speaker 7: Right too. 352 00:18:00,280 --> 00:18:03,000 Speaker 12: I think this is big enough market and still I 353 00:18:03,000 --> 00:18:05,919 Speaker 12: don't really see the FUM factor kind of converge. So 354 00:18:06,040 --> 00:18:08,639 Speaker 12: this is open race for everybody. I'm just excited, you know, 355 00:18:08,680 --> 00:18:09,880 Speaker 12: to be part of that journey. 356 00:18:10,080 --> 00:18:13,000 Speaker 3: Well, the people we're waiting for their unveil from is Google. 357 00:18:13,440 --> 00:18:17,000 Speaker 2: How are you working alongside Google? How is your relationship deepening? 358 00:18:17,280 --> 00:18:18,600 Speaker 2: How is Project Aura? 359 00:18:18,760 --> 00:18:20,280 Speaker 7: Okay, that's a great question. You know. 360 00:18:20,760 --> 00:18:23,119 Speaker 12: This week we just you know, announced that we're depending 361 00:18:23,160 --> 00:18:26,440 Speaker 12: the partnership with multi year extension and also name Actual 362 00:18:26,560 --> 00:18:29,480 Speaker 12: being the lead hardware partner with Google and Android XR. 363 00:18:29,760 --> 00:18:32,640 Speaker 12: And this is really great exciting moments. I think maybe 364 00:18:32,800 --> 00:18:35,240 Speaker 12: it's not just one company you're gonna do everything, you 365 00:18:35,280 --> 00:18:38,280 Speaker 12: know together, maybe it's kind of a combination. The hardware 366 00:18:38,280 --> 00:18:41,800 Speaker 12: is software collaboration at some point and Actual We are 367 00:18:41,800 --> 00:18:44,840 Speaker 12: really good at building optical modules, building chips, you know, 368 00:18:44,960 --> 00:18:47,200 Speaker 12: and you know Google they're really good at building AI, 369 00:18:47,960 --> 00:18:50,439 Speaker 12: building an offering system. So I think, you know, this 370 00:18:50,480 --> 00:18:52,199 Speaker 12: is a win win situation for us to team up 371 00:18:52,200 --> 00:18:54,760 Speaker 12: together to kind of polish the end to end hardware 372 00:18:54,800 --> 00:18:57,879 Speaker 12: and software e cop experiences together. 373 00:18:58,119 --> 00:19:00,000 Speaker 3: So do you think it'll almost be like a self 374 00:19:00,080 --> 00:19:02,399 Speaker 3: own world in that you have the Google pixel, but 375 00:19:02,400 --> 00:19:05,040 Speaker 3: you also have some sung with the Android operating system 376 00:19:05,040 --> 00:19:06,680 Speaker 3: and Mirianna others using Android. 377 00:19:06,800 --> 00:19:08,120 Speaker 2: So is it going to be Google with their own 378 00:19:08,160 --> 00:19:11,080 Speaker 2: hardware and their own and then or you're. 379 00:19:10,920 --> 00:19:12,959 Speaker 3: Going to be the hardware partner of choice and then 380 00:19:13,000 --> 00:19:13,760 Speaker 3: be some others out there. 381 00:19:13,760 --> 00:19:16,800 Speaker 12: Absolutely, if you remember early on actually Google partner with HTC, 382 00:19:17,680 --> 00:19:19,760 Speaker 12: you know, at the very beginning to define the whole 383 00:19:19,760 --> 00:19:22,800 Speaker 12: smartphone industry part of it, you know, alongside with Apple, 384 00:19:23,359 --> 00:19:25,800 Speaker 12: and then they start to rolling out to LG to 385 00:19:25,960 --> 00:19:28,320 Speaker 12: some song and then they have their own pixels, right, 386 00:19:28,560 --> 00:19:30,480 Speaker 12: So it's going to be an ecosystem playing We're just 387 00:19:30,520 --> 00:19:33,080 Speaker 12: you know, we just feel lucky we got picked by 388 00:19:33,080 --> 00:19:35,639 Speaker 12: Google so we can work together being the pioneer to 389 00:19:35,720 --> 00:19:37,159 Speaker 12: drive these in industry forward. 390 00:19:37,480 --> 00:19:41,720 Speaker 5: When when projects or glasses come to the real. 391 00:19:41,560 --> 00:19:43,880 Speaker 7: World twenty six, it's going to be this year. 392 00:19:44,200 --> 00:19:45,359 Speaker 5: What does the rollout look like? 393 00:19:46,000 --> 00:19:48,160 Speaker 12: Well, that's something I cannot share at this moment. 394 00:19:48,520 --> 00:19:50,520 Speaker 4: But you go to market, you'll say they're ready, this 395 00:19:50,560 --> 00:19:52,440 Speaker 4: is what they look like, this is what they cost. 396 00:19:53,040 --> 00:19:55,040 Speaker 12: They will be available of course, you know, when the 397 00:19:55,040 --> 00:19:57,000 Speaker 12: time's ready, we'll release those kind of information. 398 00:19:57,440 --> 00:19:59,960 Speaker 4: There are some other things that you're your bat let 399 00:20:00,119 --> 00:20:04,760 Speaker 4: with your latest generation existing x real glasses, right, absolutely, sleeker, 400 00:20:04,880 --> 00:20:09,560 Speaker 4: lower price, price is so important, but you are going 401 00:20:09,600 --> 00:20:12,119 Speaker 4: up against the market where we have Vision Pro and 402 00:20:12,200 --> 00:20:15,439 Speaker 4: other similar products, and then we question immersion and field of. 403 00:20:15,480 --> 00:20:18,760 Speaker 5: View, that's right. What's your response to those questions. 404 00:20:18,440 --> 00:20:20,880 Speaker 12: People start to think about, you know, maybe for Apple 405 00:20:20,960 --> 00:20:24,199 Speaker 12: Vinion Pro it is great experience, but the question and 406 00:20:24,320 --> 00:20:27,720 Speaker 12: challenges you know, it is too expensive, it is too heavy, right, 407 00:20:27,800 --> 00:20:29,760 Speaker 12: so how can we can we come up with something 408 00:20:29,800 --> 00:20:33,520 Speaker 12: you know, lighter, more affordable, like, but we can deliver 409 00:20:33,560 --> 00:20:35,760 Speaker 12: like eighty percent of that kind of experience. And that's 410 00:20:35,760 --> 00:20:38,359 Speaker 12: where you know x U glass is coming about. And 411 00:20:38,440 --> 00:20:40,880 Speaker 12: especially if we had the latest generation one as right, 412 00:20:41,160 --> 00:20:44,399 Speaker 12: we further kind of a bump up the features. You know, 413 00:20:44,480 --> 00:20:46,240 Speaker 12: some of the you know, very unique feature. We say 414 00:20:46,280 --> 00:20:49,520 Speaker 12: it's two D to three D lifetime conversion. We're using 415 00:20:49,560 --> 00:20:52,919 Speaker 12: our own chip to do this AI conversion in the 416 00:20:52,920 --> 00:20:55,359 Speaker 12: real time, and this is amazing. Any kind of content 417 00:20:55,440 --> 00:20:58,879 Speaker 12: coming with the glasses, whether it's a cell phone, handhold, 418 00:20:58,880 --> 00:21:02,080 Speaker 12: gaming devices, topic can turn into three D in the 419 00:21:02,119 --> 00:21:02,560 Speaker 12: real time. 420 00:21:03,240 --> 00:21:06,040 Speaker 2: Let's talk about how you've got the price pointed out. Yes, 421 00:21:06,359 --> 00:21:07,800 Speaker 2: Is it because you're making your own chip. 422 00:21:07,880 --> 00:21:10,280 Speaker 3: Is it a supply chain navigation or are you just 423 00:21:10,280 --> 00:21:11,640 Speaker 3: taking a hit from a profit margin? 424 00:21:12,040 --> 00:21:13,760 Speaker 12: No, we just you know, we spend a lot of 425 00:21:13,760 --> 00:21:17,240 Speaker 12: effort optimizing this whole supply chain. You know, better year rate, 426 00:21:17,640 --> 00:21:20,199 Speaker 12: you know, higher volume. I just kind of going to 427 00:21:20,240 --> 00:21:21,400 Speaker 12: help to bring the cost down. 428 00:21:21,520 --> 00:21:24,080 Speaker 5: Is it coming from China part of that? 429 00:21:24,200 --> 00:21:24,440 Speaker 7: Yes? 430 00:21:24,480 --> 00:21:26,320 Speaker 3: And is that a risk an issue given the national 431 00:21:26,320 --> 00:21:27,040 Speaker 3: security concerns. 432 00:21:27,480 --> 00:21:28,240 Speaker 7: That's a great question. 433 00:21:28,320 --> 00:21:30,840 Speaker 12: You know, we do have this kind of global supply 434 00:21:30,920 --> 00:21:34,120 Speaker 12: chain strategy as well. It can be China, it can 435 00:21:34,160 --> 00:21:36,439 Speaker 12: be a part of it can be even in the 436 00:21:36,520 --> 00:21:36,960 Speaker 12: US and some. 437 00:21:37,040 --> 00:21:40,159 Speaker 4: Day, just very very quickly, yes, this cs you've had 438 00:21:40,200 --> 00:21:42,679 Speaker 4: a lot of foot traffic. Yes, just reflects on that 439 00:21:42,760 --> 00:21:43,280 Speaker 4: really quick. 440 00:21:44,080 --> 00:21:46,800 Speaker 12: Well, you know, people like glasses and they like to 441 00:21:46,840 --> 00:21:49,919 Speaker 12: experience actually even though we've been talking about glasses for 442 00:21:49,960 --> 00:21:52,000 Speaker 12: so long, there's still a lot of people they haven't 443 00:21:52,040 --> 00:21:54,240 Speaker 12: really tried on any glasses, So I think if this 444 00:21:54,359 --> 00:21:56,720 Speaker 12: is still a long kind of education process. 445 00:21:57,320 --> 00:21:59,800 Speaker 4: Thanks Real CEO, tees you great heavy back on the 446 00:21:59,800 --> 00:22:02,359 Speaker 4: blue tech here at CES, Thank you so much. Coming up, 447 00:22:02,359 --> 00:22:05,040 Speaker 4: we're gonna speak with Jacob Helberg, US State Department under 448 00:22:05,080 --> 00:22:08,760 Speaker 4: Secretary for Economic Affairs to discuss the state of chip 449 00:22:08,800 --> 00:22:12,840 Speaker 4: export curves. The sources say China is now ready to 450 00:22:12,920 --> 00:22:16,919 Speaker 4: approve imports of some in Nvidia eight two hundred chips. 451 00:22:16,920 --> 00:22:20,800 Speaker 4: The big story from Bloomberg this Thursday, it is halftime. 452 00:22:21,040 --> 00:22:23,840 Speaker 4: We are in Las Vegas. This is CS and this 453 00:22:24,160 --> 00:22:36,320 Speaker 4: is Bloomberg Tech. Welcome back to Bloomberg Tech. There is 454 00:22:36,359 --> 00:22:38,880 Speaker 4: a lot of news that's driving markets irrespective of what's 455 00:22:38,920 --> 00:22:41,359 Speaker 4: going on here in Las Vegas. One of them is 456 00:22:41,400 --> 00:22:44,600 Speaker 4: the Warner Brothers Discovery situation. Paramounts Guidance came out with 457 00:22:44,640 --> 00:22:47,879 Speaker 4: a statement reaffirming their thirty dollars a share offer, but 458 00:22:48,080 --> 00:22:51,040 Speaker 4: interesting curR like in the calculus, they're now saying that 459 00:22:51,080 --> 00:22:53,440 Speaker 4: the cable networks that they want to include in the. 460 00:22:53,400 --> 00:22:56,160 Speaker 5: Deal are worth zero dollars, which is. 461 00:22:56,080 --> 00:22:57,960 Speaker 4: Interesting because like a lot of the street and a 462 00:22:58,040 --> 00:22:59,800 Speaker 4: lot of the market saying we don't think you're quite 463 00:22:59,880 --> 00:23:02,560 Speaker 4: right on that. Remember, Netflix wants to buy just the 464 00:23:02,600 --> 00:23:06,640 Speaker 4: studios and streaming spin out the legacy networks and cable offering, 465 00:23:06,960 --> 00:23:09,800 Speaker 4: whereas Paramounts Guidance, as we say on bluebo Tech, want 466 00:23:09,840 --> 00:23:12,800 Speaker 4: the whole enchilada. Either way, we're still kind of in 467 00:23:12,800 --> 00:23:14,560 Speaker 4: a holding pattern until we move forward. 468 00:23:15,080 --> 00:23:16,200 Speaker 8: There's a really big. 469 00:23:16,000 --> 00:23:19,360 Speaker 4: Story overnight out of career, and that is Samsung quarterly 470 00:23:19,400 --> 00:23:24,920 Speaker 4: profit tripled because memory. We've been talking so much about 471 00:23:24,920 --> 00:23:27,879 Speaker 4: the supply constraint and bottleneck that is memory right now, 472 00:23:28,080 --> 00:23:30,840 Speaker 4: and pricing goes up, but if you're a memory maker 473 00:23:31,080 --> 00:23:34,000 Speaker 4: and pricing goes up to that extent, it's usually pretty 474 00:23:34,040 --> 00:23:36,600 Speaker 4: good for your bottom line. The stock down about a 475 00:23:36,600 --> 00:23:39,119 Speaker 4: percentage point, but that was the big headline, and it 476 00:23:39,200 --> 00:23:42,040 Speaker 4: has been such a focus this week, the issue and 477 00:23:42,080 --> 00:23:45,200 Speaker 4: bottleneck that is memory chips, not just in the data 478 00:23:45,200 --> 00:23:46,800 Speaker 4: center context, but of course PC as well. 479 00:23:46,840 --> 00:23:49,080 Speaker 3: And of course, because Jenson what made that point of sandus, 480 00:23:49,320 --> 00:23:50,719 Speaker 3: the shares went wild. 481 00:23:50,760 --> 00:23:52,639 Speaker 2: Maybe that's why we're pulling back a little bit on Samsung. 482 00:23:52,720 --> 00:23:55,160 Speaker 2: But let's switch gears a little bit because Another key. 483 00:23:55,040 --> 00:23:57,760 Speaker 3: Part of our conversation that we had yesterday with Andreil 484 00:23:57,840 --> 00:24:01,240 Speaker 3: founder par Malucky was where we discussed US competition with China, 485 00:24:01,359 --> 00:24:05,000 Speaker 3: and you first asked him about the compensation package after 486 00:24:05,040 --> 00:24:08,760 Speaker 3: President Trump called for capping executive pay with defense contractors 487 00:24:08,760 --> 00:24:09,439 Speaker 3: in particular. 488 00:24:09,600 --> 00:24:10,240 Speaker 2: Just take a listen. 489 00:24:11,320 --> 00:24:14,879 Speaker 4: One of the provisions that the president proposes is a 490 00:24:14,960 --> 00:24:18,359 Speaker 4: salary cap of five million dollars. In the Bloomberg story 491 00:24:18,440 --> 00:24:20,919 Speaker 4: outlined some of the comp of those CEOs. Would you 492 00:24:21,000 --> 00:24:23,400 Speaker 4: be willing to say what you pay yourself for Anderior, 493 00:24:23,400 --> 00:24:25,879 Speaker 4: and if you would abide by I pay. 494 00:24:25,760 --> 00:24:27,560 Speaker 7: Myself one hundred thousand dollars a year. 495 00:24:27,800 --> 00:24:30,640 Speaker 4: So significantly less than a five million dollar cap. 496 00:24:31,280 --> 00:24:33,480 Speaker 13: True, But I also own a lot of my company, 497 00:24:33,600 --> 00:24:36,879 Speaker 13: and so this measure is not really written in a 498 00:24:36,880 --> 00:24:40,320 Speaker 13: way where it's intended to hit new companies starting new things. 499 00:24:40,480 --> 00:24:40,639 Speaker 7: You know. 500 00:24:40,720 --> 00:24:43,359 Speaker 13: Act like if Kelly Johnson were alive today and he 501 00:24:43,440 --> 00:24:46,160 Speaker 13: owned a bunch of you know, Lockheed Martin or north 502 00:24:46,160 --> 00:24:48,560 Speaker 13: from Grummer or Raytheon, I don't think that anyone would 503 00:24:48,560 --> 00:24:49,879 Speaker 13: have nearly much of a problem with him. 504 00:24:49,960 --> 00:24:51,720 Speaker 7: Yeah, I pay myself one hundred thousand dollars a year. 505 00:24:51,840 --> 00:24:53,400 Speaker 7: That's my compensation. Package. 506 00:24:53,760 --> 00:24:56,679 Speaker 13: I own a bunch of androll because I started the company. 507 00:24:57,320 --> 00:24:59,480 Speaker 13: That's so my motivation is to try and build the 508 00:24:59,480 --> 00:25:02,360 Speaker 13: biggest thing forossible. I will say people are fairly critiguing 509 00:25:02,359 --> 00:25:04,240 Speaker 13: and said, but Palmer, you know, are you really a 510 00:25:04,280 --> 00:25:06,119 Speaker 13: neutral party here? Are you really in a position to 511 00:25:06,160 --> 00:25:07,960 Speaker 13: comment given you're competing with these companies? And I'd say 512 00:25:07,960 --> 00:25:10,320 Speaker 13: two things. One, these measures do apply an equal measure 513 00:25:10,359 --> 00:25:12,560 Speaker 13: to me. I now cannot pay dividends. I now cannot 514 00:25:12,560 --> 00:25:14,560 Speaker 13: be stock buybacks if I'm not investing in new plans, 515 00:25:14,600 --> 00:25:15,320 Speaker 13: if I'm not doing. 516 00:25:15,119 --> 00:25:15,680 Speaker 7: These two things. 517 00:25:15,760 --> 00:25:17,960 Speaker 13: The other thing is it's always tricky when you want 518 00:25:17,960 --> 00:25:20,680 Speaker 13: to know, I'm in defense because I wanted to help 519 00:25:20,720 --> 00:25:21,600 Speaker 13: solve these problems. 520 00:25:21,760 --> 00:25:24,200 Speaker 7: Right. It's actually the same thing with like mod Retro 521 00:25:24,240 --> 00:25:24,919 Speaker 7: in the gaming. 522 00:25:24,680 --> 00:25:27,640 Speaker 13: Space, like, oh, of course Palmer would criticize these other 523 00:25:27,680 --> 00:25:31,440 Speaker 13: game companies, after all, he's in the gaming space. It's like, yeah, 524 00:25:31,480 --> 00:25:33,439 Speaker 13: but I'm in the gaming space because I want to 525 00:25:33,440 --> 00:25:35,560 Speaker 13: solve these problems. It's kind of this like catch twenty two, 526 00:25:35,640 --> 00:25:38,320 Speaker 13: Like if you're outside it, they'll say, well, why don't 527 00:25:38,320 --> 00:25:39,159 Speaker 13: you do something about it? 528 00:25:39,160 --> 00:25:39,320 Speaker 8: Then? 529 00:25:39,400 --> 00:25:42,000 Speaker 13: And you do something like who cares what you're doing? 530 00:25:42,200 --> 00:25:44,840 Speaker 13: You're just part of the problem. It's always been emotionally 531 00:25:44,840 --> 00:25:45,480 Speaker 13: difficult for. 532 00:25:45,440 --> 00:25:49,480 Speaker 3: Me when we're thinking about where you stand, where US 533 00:25:49,560 --> 00:25:50,600 Speaker 3: stands versus China. 534 00:25:50,720 --> 00:25:52,560 Speaker 2: Yep, where does it intens of drone technology? 535 00:25:52,600 --> 00:25:57,000 Speaker 3: We're in this context of a geopolitical strain that started 536 00:25:57,000 --> 00:25:58,240 Speaker 3: this year off with Venezuela. 537 00:25:58,320 --> 00:26:00,879 Speaker 2: We look now to Russia. How do you see China 538 00:26:01,119 --> 00:26:02,240 Speaker 2: and the Taiwan question. 539 00:26:02,480 --> 00:26:06,639 Speaker 13: China has an incredibly strong drone industry. It is largely 540 00:26:06,680 --> 00:26:08,960 Speaker 13: a result of state intervention. It's largely a result of 541 00:26:09,000 --> 00:26:13,000 Speaker 13: industrial policy, of supply chain investments that the government has made. Yeah, 542 00:26:13,000 --> 00:26:14,960 Speaker 13: and even trade deals that China has made around the 543 00:26:14,960 --> 00:26:17,199 Speaker 13: world to allow for these drones to freely flow out 544 00:26:17,200 --> 00:26:20,679 Speaker 13: in other marketplaces. Yeah, China has the best ron industry 545 00:26:20,680 --> 00:26:22,600 Speaker 13: in the world. It's not even close. It's definitely a 546 00:26:22,640 --> 00:26:24,840 Speaker 13: weakness that the United States has. Now you saw recently 547 00:26:24,960 --> 00:26:27,840 Speaker 13: this ban on d jai drones. The intention there is 548 00:26:27,880 --> 00:26:30,560 Speaker 13: to try and fix that. You can fix these things. 549 00:26:30,560 --> 00:26:33,320 Speaker 13: The US is capable of building drones, it's just we 550 00:26:33,400 --> 00:26:37,760 Speaker 13: aren't capable of competing with the labor laws, emissions laws, 551 00:26:37,960 --> 00:26:40,960 Speaker 13: energy prices from coal plants, et cetera that you see 552 00:26:40,960 --> 00:26:41,359 Speaker 13: in China. 553 00:26:41,440 --> 00:26:43,280 Speaker 7: So I'm hoping that this ban on d Jai drones 554 00:26:43,560 --> 00:26:44,280 Speaker 7: results in a. 555 00:26:44,280 --> 00:26:47,560 Speaker 13: Strong US drone market popping up to take its place 556 00:26:47,600 --> 00:26:50,879 Speaker 13: over the next one two three years. Androle actually as 557 00:26:50,920 --> 00:26:53,240 Speaker 13: a drone that we were showing off in Japan recently 558 00:26:53,320 --> 00:26:55,480 Speaker 13: that's made with one hundred percent Japanese parts. 559 00:26:55,600 --> 00:26:58,960 Speaker 7: Japan is another nation that can build their own drones. 560 00:26:59,000 --> 00:27:01,760 Speaker 13: They don't need d but it's hard for that to 561 00:27:01,760 --> 00:27:04,600 Speaker 13: make aconomic sense when China's allowed to flow the market. 562 00:27:07,640 --> 00:27:10,520 Speaker 4: That was Annual founder Palmer Lucky for more on the 563 00:27:10,640 --> 00:27:15,119 Speaker 4: US relationship with China and the national security concerns behind 564 00:27:15,160 --> 00:27:19,720 Speaker 4: semiconductors were joined by Jacob Helberg, US State Department Undersecretary 565 00:27:19,840 --> 00:27:22,879 Speaker 4: for Economic Affairs, but also the founder the Hill and 566 00:27:22,960 --> 00:27:25,920 Speaker 4: Valley Forum, which we were able to attend last year. 567 00:27:26,160 --> 00:27:28,440 Speaker 4: There was something in the in the in the China 568 00:27:28,440 --> 00:27:31,280 Speaker 4: context which we didn't get to with Palma, which was 569 00:27:31,680 --> 00:27:36,720 Speaker 4: a piece of recent news which President g reiterating, I 570 00:27:36,760 --> 00:27:40,760 Speaker 4: would say a long stated goal of reunification with Taiwan. 571 00:27:41,160 --> 00:27:41,240 Speaker 14: Now. 572 00:27:41,320 --> 00:27:44,320 Speaker 4: The reason I want to start there, Jacob, is in 573 00:27:44,359 --> 00:27:48,520 Speaker 4: your efforts with Pax Silica. The scenario that everyone is 574 00:27:48,840 --> 00:27:54,280 Speaker 4: trying to plan for Taiwan and access to capacity in 575 00:27:54,480 --> 00:27:58,000 Speaker 4: the semiconductor side being shut off if that scenario were 576 00:27:58,040 --> 00:28:01,400 Speaker 4: to unfold starting twenty twenty six, could you just bring 577 00:28:01,480 --> 00:28:03,600 Speaker 4: us your latest thinking on that, please. 578 00:28:03,480 --> 00:28:06,160 Speaker 14: Absolutely, And it's great to join you guys here at 579 00:28:06,200 --> 00:28:09,080 Speaker 14: CS in Las Vegas, which is such a great window 580 00:28:09,280 --> 00:28:13,359 Speaker 14: into American innovation and innovation from a lot of Paxilica 581 00:28:13,400 --> 00:28:17,080 Speaker 14: countries like South Korea and Japan. It's incredibly exciting that 582 00:28:17,119 --> 00:28:20,320 Speaker 14: we're talking barely three weeks after the signing of this 583 00:28:20,440 --> 00:28:24,719 Speaker 14: landmark declaration. Ultimately, let me put into context why this 584 00:28:24,800 --> 00:28:26,760 Speaker 14: is so important and why so many people are talking 585 00:28:26,840 --> 00:28:31,119 Speaker 14: about technology competition. But today it's clear that if the 586 00:28:31,160 --> 00:28:33,920 Speaker 14: twentieth century ran on steel, the twenty first century is 587 00:28:34,000 --> 00:28:38,080 Speaker 14: increasingly running on silicon and compute. And we're already seeing 588 00:28:38,080 --> 00:28:40,040 Speaker 14: in the United States the third of our GDP growth 589 00:28:40,040 --> 00:28:43,840 Speaker 14: coming from AI and growth picking up and accelerating as 590 00:28:43,920 --> 00:28:48,720 Speaker 14: productivity is starting to accelerate growth and sectors across the economy. 591 00:28:48,840 --> 00:28:52,320 Speaker 14: So back in July, President Trump ruled out this landmark 592 00:28:52,360 --> 00:28:54,680 Speaker 14: speech at an event I co hosted with White House 593 00:28:54,680 --> 00:28:58,680 Speaker 14: Aizar David Sachs called Winning the AI Race, where it 594 00:28:58,840 --> 00:29:01,640 Speaker 14: was a landmark moment where he declared that the US 595 00:29:02,680 --> 00:29:04,800 Speaker 14: is set to win the AI race and that it 596 00:29:04,880 --> 00:29:07,520 Speaker 14: is the official policy of the US government to do 597 00:29:07,600 --> 00:29:10,240 Speaker 14: whatever it takes. A few months later, I'm happy to 598 00:29:10,280 --> 00:29:13,080 Speaker 14: report that at the State Department, we have adopted a 599 00:29:13,120 --> 00:29:17,160 Speaker 14: strategy that breaks down this broad goal into three parts. 600 00:29:17,400 --> 00:29:18,840 Speaker 8: We want to help the US. 601 00:29:18,760 --> 00:29:21,560 Speaker 14: Government win the AI race by leading an innovation, by 602 00:29:21,560 --> 00:29:24,400 Speaker 14: gaining market share, and by securing our supply chains. So 603 00:29:24,440 --> 00:29:27,720 Speaker 14: we launched packed Silica with a group of seven countries 604 00:29:28,320 --> 00:29:33,080 Speaker 14: and are the most technologically advanced countries, including Japan, South 605 00:29:33,160 --> 00:29:37,040 Speaker 14: Korea which is home to Samsung, es Kheiinix, Mitsubishi, and 606 00:29:37,200 --> 00:29:40,680 Speaker 14: we are engaged in a lot of intensive talks to 607 00:29:40,720 --> 00:29:44,280 Speaker 14: now transition to the implementation phase of Pasilica in twenty 608 00:29:44,320 --> 00:29:44,800 Speaker 14: twenty six. 609 00:29:45,080 --> 00:29:47,760 Speaker 3: A lot of your anxiety, and you've been at this 610 00:29:47,840 --> 00:29:50,400 Speaker 3: for a very long time trying to warn the United 611 00:29:50,440 --> 00:29:52,480 Speaker 3: States and those in positions of power now in the 612 00:29:52,520 --> 00:29:55,280 Speaker 3: power that you have yourself, that we shouldn't be exopposed 613 00:29:55,320 --> 00:29:57,360 Speaker 3: to China in the way that we have been. Now 614 00:29:57,440 --> 00:29:59,600 Speaker 3: from a national security perspective, what do you think of 615 00:29:59,640 --> 00:30:02,800 Speaker 3: the late that maybe h two hundreds go into China 616 00:30:03,200 --> 00:30:06,480 Speaker 3: by this quarter, They might sign off for Ali Baba 617 00:30:06,560 --> 00:30:10,000 Speaker 3: for bid to be able to access in videos chips. 618 00:30:10,160 --> 00:30:12,520 Speaker 14: So part of the goal of winning the supply chain 619 00:30:12,600 --> 00:30:16,480 Speaker 14: means we need to expand market share. And sometimes there's 620 00:30:16,520 --> 00:30:20,240 Speaker 14: a bit of a tension between innovation and diffusion, because 621 00:30:20,280 --> 00:30:23,560 Speaker 14: when you diffuse technology, sometimes you're compromising a little bit 622 00:30:23,560 --> 00:30:27,520 Speaker 14: on innovation because more people have access to that technology, 623 00:30:27,560 --> 00:30:31,959 Speaker 14: which narrows your technological edge. Part of what we're doing 624 00:30:32,280 --> 00:30:35,880 Speaker 14: by exporting our h two hundreds is making sure that 625 00:30:35,920 --> 00:30:39,560 Speaker 14: the world's developers are building on top of the American stack, 626 00:30:40,040 --> 00:30:42,920 Speaker 14: and we want to ensure that American models actually stay 627 00:30:42,920 --> 00:30:47,160 Speaker 14: ahead through these strategic bilateral deals in countries in the 628 00:30:47,160 --> 00:30:52,040 Speaker 14: Gulf like the UAE, the Saudi Arabia, and a number 629 00:30:52,040 --> 00:30:53,920 Speaker 14: of others that are on the way but still too 630 00:30:53,920 --> 00:30:56,840 Speaker 14: early to disclose here today, in order to make sure 631 00:30:56,880 --> 00:31:00,120 Speaker 14: that our companies have by far the most compute capacity, 632 00:31:00,320 --> 00:31:02,280 Speaker 14: so that our l A lamps they had as well. 633 00:31:02,400 --> 00:31:06,360 Speaker 4: Jacob on that market share bucket, you know, the concern 634 00:31:06,720 --> 00:31:10,360 Speaker 4: that many in DC outline to us is if we 635 00:31:10,440 --> 00:31:13,840 Speaker 4: don't take sport to the golf, China will Is that 636 00:31:13,920 --> 00:31:16,120 Speaker 4: the right way to think about it for America? 637 00:31:16,640 --> 00:31:19,960 Speaker 14: I think it's an opportunity where there is nature abhors 638 00:31:20,040 --> 00:31:23,840 Speaker 14: a vacuum. We have got to fill the vacuum while 639 00:31:23,880 --> 00:31:26,680 Speaker 14: we can. We have the world's best technology and the 640 00:31:26,720 --> 00:31:30,800 Speaker 14: worlds know that. And ultimately America has thrived when we 641 00:31:30,920 --> 00:31:34,600 Speaker 14: allow our innovators to actually dominate market share. 642 00:31:35,400 --> 00:31:38,040 Speaker 3: They did dominate, and video had ninety five percent in 643 00:31:38,080 --> 00:31:40,800 Speaker 3: the market and now Jensen to say, has zero and 644 00:31:40,840 --> 00:31:42,800 Speaker 3: maybe it's being allowed to claw some back. 645 00:31:43,640 --> 00:31:44,880 Speaker 2: Has not the horse bolted? 646 00:31:45,000 --> 00:31:47,240 Speaker 3: Have we not already allowed camera con to grow and 647 00:31:47,320 --> 00:31:49,440 Speaker 3: our way to grow? Are we really going to be 648 00:31:49,480 --> 00:31:51,800 Speaker 3: able to clean back and have the stack of our 649 00:31:51,840 --> 00:31:52,800 Speaker 3: own worldwide? 650 00:31:53,000 --> 00:31:56,360 Speaker 14: And that's exactly why we launched packsilica, to make sure 651 00:31:56,400 --> 00:32:00,280 Speaker 14: that we have a sensible approach to exporting our best 652 00:32:00,280 --> 00:32:04,640 Speaker 14: technologies while protecting our most sensitive technologies. We're having dual 653 00:32:04,680 --> 00:32:07,680 Speaker 14: track conversations with our partners. We want to protect our 654 00:32:07,720 --> 00:32:10,040 Speaker 14: sensitive technologies, but we have got to have a path 655 00:32:10,360 --> 00:32:12,560 Speaker 14: to gain market share. And I think everyone's on the 656 00:32:12,600 --> 00:32:16,560 Speaker 14: same page. Everyone who joined Packsilica understands that the world's 657 00:32:16,560 --> 00:32:20,200 Speaker 14: supply chains being concentrated in one country, no matter how 658 00:32:20,240 --> 00:32:23,920 Speaker 14: you feel about that country, is too risky, is too brittle, 659 00:32:24,160 --> 00:32:26,880 Speaker 14: and is ultimately a liability to the global economy. And 660 00:32:26,920 --> 00:32:31,400 Speaker 14: that's why we started this Economic Security Coalition with the 661 00:32:31,400 --> 00:32:35,840 Speaker 14: world's most advanced technology companies and countries in order to 662 00:32:35,840 --> 00:32:38,200 Speaker 14: make sure that we diversify those supply chains. 663 00:32:38,480 --> 00:32:42,000 Speaker 4: Jacob, those companies are here at Cess Vegas. What do 664 00:32:42,040 --> 00:32:44,440 Speaker 4: you hope to achieve in the time that you have 665 00:32:44,480 --> 00:32:45,080 Speaker 4: at CEES. 666 00:32:45,520 --> 00:32:48,160 Speaker 14: So part of what we're looking for our roadmap in 667 00:32:48,200 --> 00:32:51,800 Speaker 14: twenty twenty six is we want to focus on policy coordination, 668 00:32:52,240 --> 00:32:54,720 Speaker 14: We want to expand membership of Packsilica, and we want 669 00:32:54,760 --> 00:32:57,880 Speaker 14: to focus on infrastructure projects. The way that we view 670 00:32:57,920 --> 00:33:01,160 Speaker 14: infrastructure is we want to focus on the arteries of 671 00:33:01,200 --> 00:33:04,360 Speaker 14: supply chains through advanced logistics. We want to focus on 672 00:33:04,400 --> 00:33:10,280 Speaker 14: the muscle might of industrial capacity, particularly with fabs, factories 673 00:33:10,480 --> 00:33:14,000 Speaker 14: and refineries, and we also want to focus on the fuel, 674 00:33:14,320 --> 00:33:17,760 Speaker 14: particularly capital and energy. One of the things that's so 675 00:33:17,800 --> 00:33:20,280 Speaker 14: interesting about talking with companies here is we can get 676 00:33:20,280 --> 00:33:23,520 Speaker 14: to actually stress test a lot of these ideas with 677 00:33:23,680 --> 00:33:25,920 Speaker 14: builders and with people who are the closest to these 678 00:33:25,920 --> 00:33:26,840 Speaker 14: problems day to day. 679 00:33:27,360 --> 00:33:31,520 Speaker 3: Jacob, this week has been extraordinary from a geopolitical perspective, 680 00:33:32,040 --> 00:33:35,240 Speaker 3: and I want to just get your thoughts high level, 681 00:33:36,000 --> 00:33:38,160 Speaker 3: your view on pack Silica is that it's sort of 682 00:33:38,960 --> 00:33:39,840 Speaker 3: peace through power. 683 00:33:40,520 --> 00:33:41,760 Speaker 2: Is that how we should. 684 00:33:41,560 --> 00:33:46,600 Speaker 3: Be interpreting what's occurred Venezuela with Russian chips, with what 685 00:33:46,800 --> 00:33:48,680 Speaker 3: continues to occur worldwide right now. 686 00:33:49,480 --> 00:33:52,400 Speaker 14: So I think at the end of the day, one 687 00:33:52,400 --> 00:33:54,960 Speaker 14: of the takeaways of the events the last few weeks 688 00:33:55,080 --> 00:33:58,200 Speaker 14: is very clear that the world needs to know that 689 00:33:58,200 --> 00:34:01,040 Speaker 14: the Trump administration says what it means and means what 690 00:34:01,120 --> 00:34:05,720 Speaker 14: it says. I think Secretary Rubio spoke very eloquently about 691 00:34:05,760 --> 00:34:08,279 Speaker 14: where the US stands and the Trump administration stands on 692 00:34:08,360 --> 00:34:11,279 Speaker 14: Venezuela and other issues that have been in the news 693 00:34:11,320 --> 00:34:17,960 Speaker 14: like Greenland. Ultimately, the biggest threat to international norms is 694 00:34:18,680 --> 00:34:21,920 Speaker 14: the Western Hemisphere and the United States being asleep at 695 00:34:21,960 --> 00:34:24,319 Speaker 14: the switch while we are encroached from the north through 696 00:34:24,360 --> 00:34:27,759 Speaker 14: the Arctic and from the south through Latin America. Ultimately, 697 00:34:28,360 --> 00:34:32,480 Speaker 14: Pack Silica is an effort to pursue a very pragmatic 698 00:34:32,520 --> 00:34:36,880 Speaker 14: approach by working with our closest technological partners to actually 699 00:34:36,920 --> 00:34:40,279 Speaker 14: forge strategic investment deals and allow moving the needle in 700 00:34:40,320 --> 00:34:42,799 Speaker 14: a way that actually benefits all of us. That is 701 00:34:42,840 --> 00:34:45,560 Speaker 14: why this coalition is so diverse it's very, very new. 702 00:34:45,600 --> 00:34:48,760 Speaker 14: It's a completely new grouping of countries that includes players 703 00:34:48,800 --> 00:34:52,200 Speaker 14: like Singapore, like Israel, the UAE, people who aren't used 704 00:34:52,239 --> 00:34:55,120 Speaker 14: to being included in traditional legacy forums like the G 705 00:34:55,200 --> 00:34:58,000 Speaker 14: twenty and the G seven. And yet these countries punch 706 00:34:58,360 --> 00:35:00,560 Speaker 14: far above their weight and where very as a partner 707 00:35:00,600 --> 00:35:00,919 Speaker 14: with them. 708 00:35:01,160 --> 00:35:03,320 Speaker 2: JKM, It's great having some time with you. I'm excited 709 00:35:03,320 --> 00:35:04,439 Speaker 2: to say to be on stage with you a little 710 00:35:04,480 --> 00:35:05,040 Speaker 2: bit later as well. 711 00:35:05,120 --> 00:35:07,799 Speaker 3: Jacob Elbow his US Department of Stayed Under Secretary for 712 00:35:07,840 --> 00:35:10,920 Speaker 3: Economics Affairs and of course, founder of the Helen Barry Forum, 713 00:35:11,080 --> 00:35:14,560 Speaker 3: which is bringing together a VC and Washington surrounding the 714 00:35:14,640 --> 00:35:16,560 Speaker 3: China issues. Meanwhile, coming up more on the future of 715 00:35:16,600 --> 00:35:19,800 Speaker 3: AI's companies shift in and out of the digital world 716 00:35:20,440 --> 00:35:23,560 Speaker 3: and back into physical Steve Jangs, Kind Adventures managing partner 717 00:35:23,600 --> 00:35:32,800 Speaker 3: joins his next is a bluebotec. AI's real world impact 718 00:35:32,840 --> 00:35:35,720 Speaker 3: is dominating the conversation here at CES, with investors watching 719 00:35:35,760 --> 00:35:39,080 Speaker 3: closely to see which technologies move from height to reality 720 00:35:39,120 --> 00:35:41,880 Speaker 3: and maybe they foster that reality. Steve Jangs with US 721 00:35:41,880 --> 00:35:45,080 Speaker 3: managing partner and founder of Kind Adventures, early stage bench 722 00:35:45,160 --> 00:35:48,239 Speaker 3: firm known for back in category defining startups making significant 723 00:35:48,239 --> 00:35:49,600 Speaker 3: bets on Well, we think of the work that you 724 00:35:49,600 --> 00:35:51,400 Speaker 3: did with Uber, will you think of so many of 725 00:35:51,400 --> 00:35:53,880 Speaker 3: the companies that have had significant exits and m and 726 00:35:53,920 --> 00:35:56,560 Speaker 3: a that's happening. But for you here, I think one 727 00:35:56,560 --> 00:35:58,560 Speaker 3: of the stars of the show has been Neuro. Right. 728 00:35:58,680 --> 00:36:01,040 Speaker 3: We saw this big announcement coming from We had Lucid 729 00:36:01,120 --> 00:36:04,080 Speaker 3: on the show, but Uber and and Dey Neuro teaming 730 00:36:04,160 --> 00:36:07,080 Speaker 3: up to provide the future of robotaxis. But as a 731 00:36:07,080 --> 00:36:09,600 Speaker 3: crowded field, how did you decign Nero was going to 732 00:36:09,640 --> 00:36:11,120 Speaker 3: be helping win in that autonomous fight? 733 00:36:11,400 --> 00:36:13,960 Speaker 15: Sure, So if you rewind time and you look at 734 00:36:13,960 --> 00:36:17,439 Speaker 15: the history of Uber, you'll remember ten years ago Uber 735 00:36:17,440 --> 00:36:19,680 Speaker 15: had announced that they were going to invest in self 736 00:36:19,719 --> 00:36:22,879 Speaker 15: driving car technology. Now, a lot of things happened since then. 737 00:36:23,360 --> 00:36:29,000 Speaker 15: So they originally had planned it with Travis Kalenik at 738 00:36:29,040 --> 00:36:31,440 Speaker 15: the helm of the company, and then had to jettison 739 00:36:31,520 --> 00:36:34,520 Speaker 15: that whole business before going public under Dara, And I 740 00:36:34,520 --> 00:36:36,960 Speaker 15: think what Dara did is pick that back up and 741 00:36:37,000 --> 00:36:39,640 Speaker 15: say we need to accelerate our strategy. So about two 742 00:36:39,719 --> 00:36:42,879 Speaker 15: years ago a lot of those plans were put into motion, 743 00:36:43,280 --> 00:36:46,680 Speaker 15: and what was interesting was Neuro was a company that 744 00:36:46,760 --> 00:36:48,840 Speaker 15: had been one of the few companies like Weimo that 745 00:36:48,880 --> 00:36:52,840 Speaker 15: had been training around Bay Area streets with their lighter 746 00:36:52,880 --> 00:36:58,360 Speaker 15: and their cameras, and they recently launched an autonomy intelligence platform, 747 00:36:58,400 --> 00:37:01,360 Speaker 15: which is basically an operating system to allow any third 748 00:37:01,360 --> 00:37:05,040 Speaker 15: party automaker to have self driving capabilities. And so what 749 00:37:05,080 --> 00:37:07,960 Speaker 15: you saw here was a great launch between Neuro, Lucid, 750 00:37:08,000 --> 00:37:12,920 Speaker 15: and Uber to not only fit retrofit a Lucid car 751 00:37:13,280 --> 00:37:16,960 Speaker 15: with autonomy full level four not eight s right, not 752 00:37:17,239 --> 00:37:21,200 Speaker 15: level two plus plus assistance, but full self driving capability 753 00:37:21,280 --> 00:37:24,880 Speaker 15: like Waimo and Tesla FSD, and launch that with Lucid 754 00:37:25,040 --> 00:37:27,080 Speaker 15: on the Uber network. So you'll be able to open 755 00:37:27,160 --> 00:37:29,200 Speaker 15: up your Uber app at the end of this year 756 00:37:29,520 --> 00:37:31,040 Speaker 15: in the Bay Area and be able to take a 757 00:37:31,080 --> 00:37:31,759 Speaker 15: self driving car. 758 00:37:31,840 --> 00:37:33,120 Speaker 5: It's like Capital light model. 759 00:37:33,600 --> 00:37:35,480 Speaker 4: Let someone else take on the burden of the hardware 760 00:37:35,480 --> 00:37:38,480 Speaker 4: and the stack, just do the fleet management. But for me, 761 00:37:38,520 --> 00:37:41,799 Speaker 4: the bigger piece of news in that world was Alpamo, right, 762 00:37:41,880 --> 00:37:43,840 Speaker 4: because Nvidia is coming with the same thing saying hey, 763 00:37:43,880 --> 00:37:44,960 Speaker 4: we have a full stack solution. 764 00:37:45,440 --> 00:37:47,080 Speaker 5: I know that you caught notis of that. 765 00:37:47,280 --> 00:37:50,600 Speaker 15: So Agxtore, which is inside of Neuro, is part of 766 00:37:50,600 --> 00:37:53,920 Speaker 15: that Elphi in Prince right. And so what Nvidia is 767 00:37:53,920 --> 00:37:56,160 Speaker 15: doing and it's very smart of Invidia. They are selling 768 00:37:56,239 --> 00:37:58,560 Speaker 15: chips right, and so what they want to do is 769 00:37:58,560 --> 00:38:01,200 Speaker 15: sell you a starter kit, give you an open source model. 770 00:38:01,440 --> 00:38:03,600 Speaker 15: They want to give you open data sets, and they say, 771 00:38:04,000 --> 00:38:06,160 Speaker 15: go to town. We want you to build a self 772 00:38:06,200 --> 00:38:09,680 Speaker 15: driving car platform to fit these cars, to fit your 773 00:38:09,719 --> 00:38:13,160 Speaker 15: ride sharing or delivery network, your logistics network. And what 774 00:38:13,160 --> 00:38:16,880 Speaker 15: they're saying is we want to have many competitors out there. 775 00:38:16,719 --> 00:38:18,239 Speaker 5: So we can sell you more GPUs. 776 00:38:18,600 --> 00:38:20,919 Speaker 15: And so Neuro is actually one of the very first 777 00:38:20,960 --> 00:38:23,160 Speaker 15: partners that has been using that for years now, and 778 00:38:23,280 --> 00:38:26,440 Speaker 15: VideA as an investor in Neuro and so you know, 779 00:38:26,600 --> 00:38:29,120 Speaker 15: Neuro and Uber are sort of the prime example and 780 00:38:29,160 --> 00:38:32,160 Speaker 15: hopefully a flagship for them and their business. But you know, 781 00:38:32,239 --> 00:38:34,680 Speaker 15: in Vidia on a larger scale at this show is 782 00:38:34,760 --> 00:38:37,359 Speaker 15: what they're doing is they're kingmaking. They're king making an 783 00:38:37,480 --> 00:38:40,080 Speaker 15: entire sector. They're saying, you know, a year ago they 784 00:38:40,080 --> 00:38:43,000 Speaker 15: were talking about robotics. This year they transitioned that into 785 00:38:43,040 --> 00:38:46,200 Speaker 15: physical AI. Now they're not just talking about robotics, they're 786 00:38:46,200 --> 00:38:49,520 Speaker 15: talking about autonomy and mobility because it's coming to a crescendo, 787 00:38:49,880 --> 00:38:52,719 Speaker 15: and so they're very very smart and saying we're sort 788 00:38:52,760 --> 00:38:54,879 Speaker 15: of like the FED, right, We're gonna we're the FED 789 00:38:54,920 --> 00:38:58,240 Speaker 15: for AI. We're going to tell you, uh, the headline, right, yeah, yeah, 790 00:38:58,280 --> 00:38:59,959 Speaker 15: and we're going to We're going to tell you where 791 00:39:00,040 --> 00:39:02,640 Speaker 15: everyone's going to go. You may be on that wave, 792 00:39:02,680 --> 00:39:04,440 Speaker 15: you may not be on that wave, but you should be. 793 00:39:04,800 --> 00:39:06,960 Speaker 15: And by the way, we have the models, we have 794 00:39:07,000 --> 00:39:09,840 Speaker 15: the data, and we have the chips and overall compute 795 00:39:09,840 --> 00:39:12,560 Speaker 15: for you to go build that. And so you know, 796 00:39:12,640 --> 00:39:15,239 Speaker 15: I think there's been a lot of argument about you know, 797 00:39:15,360 --> 00:39:17,160 Speaker 15: is in Nvidia's kingdom. 798 00:39:17,040 --> 00:39:18,279 Speaker 8: Right at risk right now? 799 00:39:18,520 --> 00:39:20,640 Speaker 15: And I would say that they continue to surprise and 800 00:39:20,680 --> 00:39:24,680 Speaker 15: be several years ahead of their competition. So we're very 801 00:39:24,680 --> 00:39:25,920 Speaker 15: excited about we're watching closely. 802 00:39:26,000 --> 00:39:28,040 Speaker 3: I mean, look, you would know form backing Uber and 803 00:39:28,040 --> 00:39:30,440 Speaker 3: the ultimately there were two key winners out of that 804 00:39:30,800 --> 00:39:33,239 Speaker 3: Uber and Left. When I think about the areas that 805 00:39:33,280 --> 00:39:35,360 Speaker 3: you're also thinking of, I mean, how many players can 806 00:39:35,400 --> 00:39:37,080 Speaker 3: there be an autonomous how many players can there be 807 00:39:37,080 --> 00:39:38,000 Speaker 3: in foundational models? 808 00:39:38,000 --> 00:39:38,960 Speaker 2: You're in perplexity, and. 809 00:39:38,960 --> 00:39:41,919 Speaker 3: Everyone's thinking maybe there's any an anthropic and an open 810 00:39:41,960 --> 00:39:45,200 Speaker 3: AI and an Gemini space sure, as. 811 00:39:45,040 --> 00:39:48,279 Speaker 15: You're rightfully noting any innovation. Curve starts as many competitors 812 00:39:48,280 --> 00:39:50,719 Speaker 15: and it whittles down to two or three. It's just 813 00:39:50,800 --> 00:39:53,920 Speaker 15: a it's a rule of thumb in Silicon Valley. So 814 00:39:54,040 --> 00:39:57,080 Speaker 15: right now Neuro is entering the space. There's Weimo, there's Tesla, 815 00:39:57,200 --> 00:40:01,399 Speaker 15: and there's Neuro. In China, there's several other competitors. Right 816 00:40:02,000 --> 00:40:05,080 Speaker 15: in Europe there are no right and so on level 817 00:40:05,120 --> 00:40:08,720 Speaker 15: four capability. So what I think is happening is you're 818 00:40:08,760 --> 00:40:12,560 Speaker 15: seeing a whittling down because of the resources, the training data, 819 00:40:12,960 --> 00:40:14,800 Speaker 15: the amount of years that you need to do to 820 00:40:15,719 --> 00:40:19,480 Speaker 15: train across all these streets. It's not a software company 821 00:40:19,560 --> 00:40:21,680 Speaker 15: that you can just start up out of scratch. So 822 00:40:21,760 --> 00:40:24,160 Speaker 15: I think one of the things that you'll see also 823 00:40:24,160 --> 00:40:28,040 Speaker 15: in robotics is you'll see this whittling down of competition. 824 00:40:28,480 --> 00:40:31,440 Speaker 15: And you see Boston Dynamics, which is owned by Hinda, 825 00:40:31,960 --> 00:40:35,359 Speaker 15: which is very interesting. They're doing quite well, and they 826 00:40:35,400 --> 00:40:38,759 Speaker 15: reveal the humanoid. You know, I've been very careful and 827 00:40:38,800 --> 00:40:41,680 Speaker 15: skeptical about the development of humanoids, and I would say 828 00:40:41,680 --> 00:40:43,480 Speaker 15: that this is the first time I've seen humanoids in 829 00:40:43,520 --> 00:40:47,359 Speaker 15: action that look practical, and so I think you'll see 830 00:40:47,360 --> 00:40:49,640 Speaker 15: that in robotics as well. I think you'll see that 831 00:40:49,680 --> 00:40:52,320 Speaker 15: in generative media. I think you'll see that in agents. 832 00:40:52,640 --> 00:40:55,040 Speaker 15: So a lot of these platforms will start to whittle 833 00:40:55,080 --> 00:40:58,200 Speaker 15: down to two, three, maybe four players, and this year 834 00:40:58,280 --> 00:41:00,800 Speaker 15: will be the year of that, which is why inference. 835 00:41:00,840 --> 00:41:02,360 Speaker 15: You know, one of the other things that we're seeing 836 00:41:02,360 --> 00:41:05,520 Speaker 15: here is more further evidence that inference is going to 837 00:41:05,600 --> 00:41:08,799 Speaker 15: exceed training in terms of compute, and that flip that 838 00:41:08,880 --> 00:41:10,719 Speaker 15: flipping if you will, right, if I can use a 839 00:41:10,760 --> 00:41:15,360 Speaker 15: Bitcoin term, that flippening is means a lot. So demand 840 00:41:15,440 --> 00:41:17,800 Speaker 15: for compute is far exceeding supply. 841 00:41:18,200 --> 00:41:18,839 Speaker 8: Even with the. 842 00:41:18,960 --> 00:41:22,520 Speaker 15: HBM shortage, it's going to increase that. So there's a 843 00:41:22,600 --> 00:41:24,440 Speaker 15: battle royale happening here in compute. 844 00:41:24,600 --> 00:41:27,920 Speaker 4: Steve Jang Kindred Avenge is hitting literally the biggest stories 845 00:41:27,920 --> 00:41:28,400 Speaker 4: of the week. 846 00:41:28,760 --> 00:41:30,680 Speaker 5: We've had hair out of ces. We have much more 847 00:41:30,680 --> 00:41:32,759 Speaker 5: to come. Stay with us. This has been bog tech. 848 00:41:43,160 --> 00:41:43,719 Speaker 8: The story in. 849 00:41:43,760 --> 00:41:46,880 Speaker 4: Markets right now is tech is down in video off 850 00:41:46,920 --> 00:41:49,439 Speaker 4: by eight tens one percent. Had been much lower over 851 00:41:49,440 --> 00:41:52,480 Speaker 4: the course of the week. We've kind of not had 852 00:41:52,520 --> 00:41:54,719 Speaker 4: any of the euphour it we expected. We all came 853 00:41:54,760 --> 00:41:57,279 Speaker 4: to Las Vegas thinking that in video, who, in Steve 854 00:41:57,360 --> 00:41:59,799 Speaker 4: Jang's words, was the king maker of AI. The fed 855 00:41:59,800 --> 00:42:02,839 Speaker 4: of A would tell us something profound that would keep 856 00:42:02,880 --> 00:42:03,719 Speaker 4: the stock going higher. 857 00:42:03,719 --> 00:42:05,360 Speaker 5: And it's not really panned out that way, even. 858 00:42:05,239 --> 00:42:07,280 Speaker 3: Though we kind of did said, look that five hundred 859 00:42:07,320 --> 00:42:10,120 Speaker 3: billion dollars of inbound I see in revenue in twenty 860 00:42:10,160 --> 00:42:12,120 Speaker 3: twenty six, that's going to be higher. Maybe we even 861 00:42:12,120 --> 00:42:15,680 Speaker 3: get eight two hundredths into China and yet so high expectations. 862 00:42:15,800 --> 00:42:17,560 Speaker 2: Look AMD, what more can lisas? 863 00:42:17,560 --> 00:42:17,960 Speaker 8: Who do? 864 00:42:18,080 --> 00:42:20,240 Speaker 2: She made up a term? Was it yotto flop? 865 00:42:20,320 --> 00:42:23,560 Speaker 3: She talked about the sheer scale or compute that's still necessary, 866 00:42:23,680 --> 00:42:26,279 Speaker 3: the winning formula that she's seeing and sock is down 867 00:42:26,480 --> 00:42:30,640 Speaker 3: qualcon though, really managed to impress the markets from robotics. 868 00:42:30,520 --> 00:42:33,240 Speaker 4: Itself into the market that everyone was already talking about. 869 00:42:33,640 --> 00:42:35,360 Speaker 4: You know, so you see the chipmakers say, okay, the 870 00:42:35,400 --> 00:42:38,399 Speaker 4: next phase is physical AI. We did learn some hard 871 00:42:38,480 --> 00:42:39,799 Speaker 4: lessons that it's difficult out there. 872 00:42:39,880 --> 00:42:43,320 Speaker 5: Memory is a big story. And then there's robots. 873 00:42:43,520 --> 00:42:46,000 Speaker 4: Right, it is the Consumer Electronics Show, and there were 874 00:42:46,000 --> 00:42:46,920 Speaker 4: real robots. 875 00:42:46,680 --> 00:42:49,560 Speaker 3: To see and what we hear at fourteen different humanoids, 876 00:42:49,560 --> 00:42:52,279 Speaker 3: not to mention the furry friends that we're seeing around here. 877 00:42:52,320 --> 00:42:53,959 Speaker 3: That are going to be a companion to your child 878 00:42:54,080 --> 00:42:56,719 Speaker 3: or to the elderly. It's been extraordinary to be here 879 00:42:56,760 --> 00:42:58,359 Speaker 3: on the floor of CES and you see the level 880 00:42:58,400 --> 00:43:01,200 Speaker 3: of innovation. Stuff that will stick, stuff that definitely won't. 881 00:43:01,360 --> 00:43:04,279 Speaker 3: I still haven't tried that lollipop that plays music as. 882 00:43:04,200 --> 00:43:04,520 Speaker 8: You eat it. 883 00:43:04,520 --> 00:43:04,640 Speaker 6: There. 884 00:43:04,680 --> 00:43:06,200 Speaker 4: Yeah, and we got some deals, we got some m 885 00:43:06,239 --> 00:43:08,160 Speaker 4: and A, we got some fundraising. But it is the 886 00:43:08,160 --> 00:43:09,200 Speaker 4: best way to start the year. 887 00:43:09,360 --> 00:43:12,320 Speaker 3: It is, I mean, boy, still talking about those valuations 888 00:43:12,360 --> 00:43:13,239 Speaker 3: and flopping as well. 889 00:43:13,520 --> 00:43:15,080 Speaker 2: That's it for this edition at. 890 00:43:14,960 --> 00:43:18,520 Speaker 3: Bloomberg Tech, but don't forget later today an exclusive interview 891 00:43:18,560 --> 00:43:20,960 Speaker 3: is coming with a co founder and CEO of Minimax. 892 00:43:21,200 --> 00:43:23,879 Speaker 3: That's right here from CS to discuss the Hong Kong 893 00:43:23,960 --> 00:43:26,879 Speaker 3: listening China IPO market for all things AI is on. 894 00:43:26,880 --> 00:43:30,319 Speaker 4: Fire IPO twenty twenty six, looking good. Recap on the 895 00:43:30,360 --> 00:43:32,480 Speaker 4: pod you know where to find it. For the final 896 00:43:32,520 --> 00:43:35,279 Speaker 4: time from Las Vegas, this is Bloomberg Tech.