WEBVTT - Musk, Altman Clash Over Trump's Stargate

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<v Speaker 1>Borga Brende there wrapping it up their president and CEO

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<v Speaker 1>of the World Economic Forum, having just spoken with the

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<v Speaker 1>United States President Donald Trump as he addressed Davos, and

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<v Speaker 1>just to run through some of the key focuses. Of course,

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<v Speaker 1>his election win was where he focused initially and then

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<v Speaker 1>tackling crime, immigration, energy inflation, whether it's looking at energy deregulation,

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<v Speaker 1>even talking about powering AI in the US with coal,

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<v Speaker 1>tackling trade policies, deficits relationships. He spanned China, Asia, Canada,

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<v Speaker 1>the EU, singling out some of the legal action being

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<v Speaker 1>taken by the EU against some of the big tech

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<v Speaker 1>companies here in the United States, of course Meta Google,

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<v Speaker 1>Apple being singled out there, concerns about the Russia and

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<v Speaker 1>Ukraine War once again focused on and in fact a

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<v Speaker 1>view that all prices need to come down to be

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<v Speaker 1>able to ensure peace there, and calling on Saudi Arabia

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<v Speaker 1>to op its investment in the United States to a

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<v Speaker 1>trillion dollars, but also calling on Saudi Arabia and OPEK

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<v Speaker 1>to reduce energy prices and all prices more broadly, and

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<v Speaker 1>then going on to tackle the relationship the future focus

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<v Speaker 1>of China. Let's wrap it up with bny Megs Lisa Bromowitz,

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<v Speaker 1>who is out in Davos. What was it like to

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<v Speaker 1>be there? What did you think about the statements and questions?

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<v Speaker 1>Being my age as well, well.

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<v Speaker 2>I will just say, Caroline and thank you so much

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<v Speaker 2>for having me that the line outside of the Congress

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<v Speaker 2>Center where he was going to be broadcast was the

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<v Speaker 2>longest I have ever seen in my years coming to Davos.

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<v Speaker 2>There were people standing there for an hour ahead of

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<v Speaker 2>time for the chance to be in that room, which

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<v Speaker 2>gives you a sense at a time the last day,

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<v Speaker 2>when a lot of people are already gone, of how

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<v Speaker 2>important people thought this would be.

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<v Speaker 3>To listen to. I will say the fact that he.

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<v Speaker 2>Did take the time to message into Davos was very

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<v Speaker 2>interesting in terms of an international outreach. In terms of

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<v Speaker 2>the main takeaways for me, at least with respect to

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<v Speaker 2>your question about what the main questions here were.

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<v Speaker 3>Number One, he wants lower.

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<v Speaker 2>Oil prices and he is going to ask Mohammed Vincelman

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<v Speaker 2>of Saudi Arabia for a trillion dollar.

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<v Speaker 3>Investment in the United States.

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<v Speaker 2>He wants Opek to lower their prices, and he wants

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<v Speaker 2>to quickly remove some of the constraints around regulations and

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<v Speaker 2>permitting for energy projects. Number two, he wants lower interest rates.

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<v Speaker 2>He wants lower interest rates for the United States and

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<v Speaker 2>around the world, really trying to make.

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<v Speaker 3>That a priority. I thought that was very interesting.

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<v Speaker 2>And then of course the tip for tap but very

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<v Speaker 2>much negotiation was very interesting. He had a much more

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<v Speaker 2>constructive tone toward China towards Hi Hinping than potentially in

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<v Speaker 2>the past.

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<v Speaker 3>I will just say that it was notable.

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<v Speaker 2>To me his comments to Brian Mooyn ahead of Bank

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<v Speaker 2>of America saying open your bank for business to conservatives

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<v Speaker 2>and saying Jamie over there at JP Morgan you too.

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<v Speaker 2>It just shows sort of the overhang and the reason

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<v Speaker 2>why DEI ESG not relevant at.

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<v Speaker 3>This particular DeVos.

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<v Speaker 2>At the same time that there is some of the

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<v Speaker 2>initiatives sort of speak to those same issues, but very

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<v Speaker 2>much in economic terms either way. Carolyn, a really interesting

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<v Speaker 2>speech to cap four days of really intense economic conversations

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<v Speaker 2>here at Davos.

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<v Speaker 4>Lisa, a question for you about the attendees in the

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<v Speaker 4>mood in the room. You've spoken to a number of

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<v Speaker 4>them during your time there. Ahead of the speech was

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<v Speaker 4>the president's message and its responses to the questions enough

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<v Speaker 4>to satisfy what they wanted to know going into it.

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<v Speaker 2>Well, I think that there still is a lot of

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<v Speaker 2>uncertainty of exactly how they're going to strip away regulations,

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<v Speaker 2>how quickly they're going to get permitting. I thought that

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<v Speaker 2>Steve Schwartzman's question was really interesting and speaks to how

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<v Speaker 2>much European leaders here at Davos have been talking about

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<v Speaker 2>what they can do to emulate some of what Donald

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<v Speaker 2>Trump is talking about here in Europe. So I think

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<v Speaker 2>that these all address the issues. I don't know that

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<v Speaker 2>it gets into the nitty gritty because a lot of

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<v Speaker 2>people want to see, where are the tariffs, what's negotiation,

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<v Speaker 2>what's reality? That wasn't going to be answered in a

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<v Speaker 2>speech today, But the fact that he messaged in was

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<v Speaker 2>interesting in and of itself, basically saying he still wants

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<v Speaker 2>to do business with the rest of the world, he

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<v Speaker 2>feels still thinks the rest of the world is going

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<v Speaker 2>to be doing well. And then I thought was interesting

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<v Speaker 2>given the fact that some people were saying, maybe he

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<v Speaker 2>doesn't even care about doing business elsewhere.

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<v Speaker 1>Lisa Bromowitz from Davos, we thank you so much for

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<v Speaker 1>coming late and wrapping up that key speech from the

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<v Speaker 1>President of the United States. It's notable that in that

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<v Speaker 1>speech he referenced artificial intelligence, wanting to be the world

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<v Speaker 1>capital for it, and indeed thinking about how you're going

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<v Speaker 1>to provide energy, even turning to Cole Look, this is

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<v Speaker 1>on the back of that enormous one hundred billion dollar

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<v Speaker 1>up to five hundred billion dollar investment in AI infrastructure,

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<v Speaker 1>as was announced by of course Larry Ellison. We had

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<v Speaker 1>Masayoshi's son and indeed Sam Altman. Now on the back

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<v Speaker 1>of that, Elon Musk and open Ai Sam Altman are

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<v Speaker 1>actually feuding about whether the money is really real for Stargate.

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<v Speaker 1>Let's bringing Max Chafkin, who knows a thing or two

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<v Speaker 1>about this feud, and it's going on online.

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<v Speaker 3>Yeah.

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<v Speaker 5>Elon Musk, Sam Altman, of course co founders of open

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<v Speaker 5>Ai back when it was a nonprofit. Elon Musk and

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<v Speaker 5>Sam Altman are now locked in a lawsuit over that

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<v Speaker 5>beginning and our competitors.

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<v Speaker 3>The thing we saw.

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<v Speaker 5>Starting yesterday is Elon Musk going on Twitter and essentially

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<v Speaker 5>saying that this big announcement, this you know, day three

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<v Speaker 5>of the Trump presidency, this big plan to create one

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<v Speaker 5>hundred billion or even five hundred billion dollars worth of

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<v Speaker 5>AI infrastructure is not true.

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<v Speaker 3>He called the news fake.

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<v Speaker 5>He said that Sam Altman is a quote swindler, and

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<v Speaker 5>then he posted a series of messages suggesting that Altman

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<v Speaker 5>was like secretly some sort of liberal at a time

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<v Speaker 5>when Alman has been attempting to have sort of a

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<v Speaker 5>trumpy evolution. Really unusual in the sense that normally you

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<v Speaker 5>don't see the criticism of the big White House announcement

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<v Speaker 5>coming from inside the White House, and that's what we're

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<v Speaker 5>seeing right now.

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<v Speaker 1>Max.

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<v Speaker 4>If you're a CEO going in to meet with Donald

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<v Speaker 4>Trump to talk about business the way he just invited

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<v Speaker 4>them to do at Davos, what are you thinking after

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<v Speaker 4>seeing this spat unfold.

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<v Speaker 5>I mean, I think that Altman and Masioshi san and

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<v Speaker 5>all of these guys are doing their best to give

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<v Speaker 5>Trump what he wants, which is these big moments, these

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<v Speaker 5>press conferences, a lot of flattery, and so that's what

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<v Speaker 5>they're doing.

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<v Speaker 3>I don't think that's going to change that much.

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<v Speaker 1>Nice check in wrapping up very quickly what is an

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<v Speaker 1>ongoing feud online, and we'll have him back to talk about.

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<v Speaker 3>A little bit more. But that does it for this

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<v Speaker 3>edition of Bloomberg Technology.

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