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Speaker 1: News when you want it with Bloomberg News Now, I'm

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Speaker 1: Doug Prisner. Bloomberg News has learned that New York City

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Speaker 1: Mayor Eric Adams has been indicted following a federal corruption investigation.

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Speaker 1: This is a stunning development that calls into question the

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Speaker 1: political future of the man charged with running America's biggest city.

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Speaker 1: Here's Bloomberg's Laura Nemeas.

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Speaker 2: The earliest investigation that we became aware of was a

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Speaker 2: probe that sort of burst into public view in November

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Speaker 2: of last year that appeared to be centering on potential

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Speaker 2: campaign finance violations in the mayor's twenty twenty one campaign,

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Speaker 2: the campaign that got him elected mayor, and whether or

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Speaker 2: not there was some interaction with the government of Turkey

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Speaker 2: potential straw donor scheme. But two other investigations seem to

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Speaker 2: be underway. It's not clear if those actually are looking

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Speaker 2: at the mayor's conducts specifically, but they do seem to

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Speaker 2: be looking at the conduct of people who are incredibly

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Speaker 2: close to him.

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Speaker 1: That's Bloomberg's Laura Nemeus. Now the indictment is sealed, and

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Speaker 1: it's not yet clear what charge or charges Adams will face.

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Speaker 1: Calls to the mayor's spokesperson and his personal attorney were

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Speaker 1: not immediately returned. Vice President Kamala Harris says the US

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Speaker 1: immigration system is broken and it needs to be fixed.

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Speaker 1: Speaking earlier to MSNBC, Harris said she plans to bring

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Speaker 1: back a bill to address border security and the influx

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Speaker 1: of fentanyl.

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Speaker 3: My pledge is that when elected president, if the American

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Speaker 3: people will have me, I will bring that bill back

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Speaker 3: and I will sign it into law. And we need

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Speaker 3: a comprehensive plan that includes what we need to do

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Speaker 3: to fortify not only our border, but deal with the

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Speaker 3: fact that we also need to create pathways for people

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Speaker 3: to earn citizenship.

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Speaker 1: Vice President Kamala Harris there the legislation she spoke of

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Speaker 1: did not pass Congress, for which Harris blames former President Trump.

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Speaker 1: Her comments come ahead of a planned visit to the

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Speaker 1: US Mexico border on Friday. The US Congress has averted

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Speaker 1: a government shut down and passed a short term funding bill.

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Speaker 1: We have more from Bloomberg's Ed Baxter.

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Speaker 4: In the House Speaker Mike Johnson relied on Democratic votes

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Speaker 4: to move it through an expedited process that limited Florida

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Speaker 4: bate but required a two thirds vote.

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Speaker 5: This is not the House's fault, it's the Senate's fault.

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Speaker 5: They passed not a single appropriations bill, so there was

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Speaker 5: nothing for the two chambers to negotiate in the end,

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Speaker 5: and there was no agreement on the top line spending number.

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Speaker 4: So as you hear, the animosity between House and Senate

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Speaker 4: will continue and they'll go at it again in December.

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Speaker 4: The White House has issued a statement thanking the bodies

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Speaker 4: and saying it will work with them. Ad Baxter Bloomberg Radio.

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Speaker 1: Micron Technology gave a surprisingly strong prediction for revenue in

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Speaker 1: the current quarter. Fiscal first quarter sales will be about

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Speaker 1: eight point seven billion dollars thanks to demand for AI gear.

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Speaker 1: That is roughly four hundred million above the consensus estimate.

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Speaker 1: We got reaction from Bloomberg's Jake Silverman.

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Speaker 6: Micron supplies high both memory chips. This is a pretty

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Speaker 6: new business for them in the set that they had

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Speaker 6: pretty deminimous market share prior to still even actually they're

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Speaker 6: growing and they're actually taking share in some of Nvidia's products,

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Speaker 6: and high bandwidth memory is so crucial for these chips

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Speaker 6: that go into data centers and allow these AI models

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Speaker 6: to actually operate at a high efficiency. So really what's

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Speaker 6: important for Micron is to continue to gain share with Nvidia.

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Speaker 1: Jake Silverman, their semiconductor analyst for Bloomberg Intelligence shares and

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Speaker 1: micro We're up by more than fourteen percent in late

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Speaker 1: US trading. Open Ai, the startup behind chat GPT, is

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Speaker 1: working on a plan to restructure. We are told the

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Speaker 1: firm's nonprofit board would no longer control OpenAI's main business. Instead,

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Speaker 1: open AI's core business would be changed into a for

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Speaker 1: profit corporation. Now, the nonprofit will continue to exist, however,

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Speaker 1: it will own a minority stake in the for profit company,

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Speaker 1: and the CEO of open Ai, Sam Altman, will receive

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Speaker 1: equity for the first time. We are told there are

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Speaker 1: discussions underway to give Altman a seven percent stake of

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Speaker 1: the company. Open Ai may have a valuation of one

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Speaker 1: hundred and fifty billion dollars. Now this comes on a

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Speaker 1: day when we also learned that open AI's chief technology officer,

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Speaker 1: Mira Murati, is leaving the company. On ex Murti said

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Speaker 1: she's stepping away to create the time and space to

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Speaker 1: do her own exploration. And that is news when you

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Speaker 1: want it. With Bloomberg News, Now I'm Doug Prisner, and

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Speaker 1: this is bloombergon