Speaker 1: News when you want it with Bloomberg News Now, I'm
Speaker 1: Dan Schwartzman. A lot of earnings after the Bell. SpaceX's
Speaker 1: revenue exceeded Wall Street's estimates in the company's first quarterly
Speaker 1: financial report following its blockbuster initial public offering in June.
Speaker 1: Elon Musk's space company reported revenue of seven point eight
Speaker 1: billion dollars. That's greater than the six point eight one
Speaker 1: billion analysts expected on average, but shares of SpaceX are
Speaker 1: lower and late trading after the company announced over eighteen
Speaker 1: billion dollars in spending on AI. Here's Bloomberg's Max Chafkin.
Speaker 2: SpaceX dominates one part of what it does, the launch business.
Speaker 2: It launches a huge percentage of the total amount of
Speaker 2: mass into space. Elon Musk was just bragging about that.
Speaker 2: But a lot of these future businesses that he is
Speaker 2: talking about, renting out data center capacity, making large language models,
Speaker 2: they have nothing to do with that. So you're sort
Speaker 2: of what you're sort of wondering as an investor, are
Speaker 2: they going to be able to bring that same level
Speaker 2: of dominance to this other field where they are also
Speaker 2: in a lot of ways behind.
Speaker 1: That was Bloomberg's Max Chafkin. The earnings report follows the
Speaker 1: announcement that SpaceX is partnering within VideA to design the
Speaker 1: star Mind satellite compute payload. The company said each of
Speaker 1: the Starmind satellites will include in Video, Rubin GPUs and
Speaker 1: Vera CPUs. Advanced micro Devices disappointed investors with its latest
Speaker 1: sales outlook, a sign that shareholders expected more of a
Speaker 1: return from the global expansion of AIDATA centers. Here's Bloomberg's
Speaker 1: ed Ludlow.
Speaker 3: It's a simple story with the third quarter revenue outlook,
Speaker 3: which was thirteen billion dollars plus minus three hundred million,
Speaker 3: just wasn't good enough relative to the most bullish expectations
Speaker 3: of the street. You know, AMD's up one hundred and
Speaker 3: forty percent year today going into this. It's a simple story,
Speaker 3: like people want to see outperformance AMD closing the gap
Speaker 3: them Video because in Videa's growth is still so high
Speaker 3: and they just didn't clear that higher bar hurdle when
Speaker 3: you think about the sort of top end of estimates.
Speaker 1: That's Bloomberg's ed Ludlow. AMD shares fell about seven percent
Speaker 1: and after ours trading del Marvel Intel shares also lower
Speaker 1: and after ours trading. Following AMD's earnings report, paramount Skydance
Speaker 1: posted a surprise surge in second quarter profits, with cost
Speaker 1: cutting from its merger last year continuing to pay off.
Speaker 1: Artificial intelligence models from open Ai and Anthropic were involved
Speaker 1: in previously unreported cybersecurity incidents. That's according to the UK
Speaker 1: government's AI Security Institute. The agency said those AI models
Speaker 1: had engaged in sustained, potentially harmful activity directed at real
Speaker 1: people and organizations. Separately, OpenAI said that another cybersecurity model
Speaker 1: incident occurred during an AI model evaluation with a regular
Speaker 1: and external cybersecurity company that also works with Anthropic. In
Speaker 1: this incident, OpenAI's models were undergoing a different cyber evaluation
Speaker 1: and took advantage of a quote misconfiguration in the testing
Speaker 1: environment to access the Internet and exploit a website. The
Speaker 1: companies said these new incidents are separate from a previously
Speaker 1: disclosed case involving hugging face. We got reaction from a
Speaker 1: tired Lieutenant General Karen Gibson, former Deputy Director of National Intelligence.
Speaker 1: She says technology is advancing faster than policy, and.
Speaker 4: This is an area where, for a variety of reasons,
Speaker 4: we've been challenged collectively in coming up with the kind
Speaker 4: of policy safeguards that would allow us to safeguard our
Speaker 4: nation and our critical infrastructure, and yet still be a
Speaker 4: leader in terms of innovation. There is a tension there
Speaker 4: between the two.
Speaker 1: Retired Lieutenant General Karen Gibson, former Deputy Director of National Intelligence,
Speaker 1: speaking on Bloomberg's balance of power, open AI says it
Speaker 1: plans to review its third party testing approach and convene
Speaker 1: industry stakeholders incoming weeks. The US, Iran, and Oman are
Speaker 1: portally closing in on an interim agreement to reopen the
Speaker 1: Straight or Horror Moves, with the US aiming for a
Speaker 1: Wednesday announcement. Axios supporting the emerging deal would meet some
Speaker 1: of Iran's demands for greater control over traffic in the strait,
Speaker 1: control it didn't have before the war. At the same time,
Speaker 1: the deal under discussion sets up a temporary arrangement between
Speaker 1: Oman and Iran in the Hormuz Strait, which could be
Speaker 1: extended and includes terms for ship traffic and clearing naval mines.
Speaker 1: Sources tell The Washington Post that the CDC is expanding
Speaker 1: the largest known US cyclospora outbreak to fifteen states, Missouri
Speaker 1: and five of the states have been added to the
Speaker 1: CDC's list as investigators continue to trace the outbreak to
Speaker 1: shredded iceberg lettuce source from Central Mexico. Health officials support
Speaker 1: many of those patients reported eating at Taco Bell. Meantime,
Speaker 1: Chipotle has taken Halapino's off their menus in multiple locations
Speaker 1: in Minnesota after learning the peppers may be linked to
Speaker 1: salmonella outbreak in the state. The chain removed the suspect
Speaker 1: halapinos from all of its stores that received the product
Speaker 1: while assisting with the probe of the outbreak by Minnesota
Speaker 1: health officials. The Senate Judiciary Committee has voted to advance
Speaker 1: Todd Blanche's bid to become the next Attorney General. Bloomberg
Speaker 1: Zamy Morris supports from Washington.
Speaker 5: Two Republican holdouts, Senators John Cornyn and Tom Tillis, voted
Speaker 5: to support Blanche's nomination after he killed the president's payout fund.
Speaker 5: In writing, Senator Cornyn.
Speaker 6: A roughly one point eight billion dollar way compianization fund
Speaker 6: is dead, and of course I expect them to live
Speaker 6: up to that in any future litigation.
Speaker 5: Ranking Democrat Dick Durbin said the deal could easily be
Speaker 5: undone by President Trump.
Speaker 6: Simply his word is not enough, not even for some
Speaker 6: of my Republican friends, and the cop beater's fund can
Speaker 6: easily be revived with a new order from the Department
Speaker 6: of Justice. Fifteen minutes after mister Blanche is confirmed as Attorney.
Speaker 5: General, Blanche's nomination now heads to the full Senate in Washington.
Speaker 5: Amy Morris Bloomberg Radio, and we're.
Speaker 1: Learning that main Republican Senator Susan Collins will vote against
Speaker 1: Blanche's nomination to be attorney General. The House Ethics Committee
Speaker 1: said it had opened an investigation into domestic abuse allegations
Speaker 1: against Ohio Republican Representative Max Miller. The committee is reviewing
Speaker 1: whether Miller quote may have engaged in domestic violence, an abuse,
Speaker 1: or illegal drug use. Miller spoke to CNN amit abuse allegations.
Speaker 7: And so for no second am I going to sit
Speaker 7: here and continue to be debased by false and baseless
Speaker 7: allegations and be pushed out of his seat. I have
Speaker 7: worked so hard to represent and done a terrific job
Speaker 7: for our community.
Speaker 1: That's Ohio Representative Max Miller speaking to CNN. Senator Bernie Moreno,
Speaker 1: his former father in law, and other fellow Republicans have
Speaker 1: called for Miller to resign his House seat. It's primary
Speaker 1: election night in five states. All eyes though on Michigan,
Speaker 1: where moderate Hailey Stevens and progressive Abdul al Sayed are
Speaker 1: neck and neck in a Democratic Senate primary, elswhere and Virginia.
Speaker 1: Retired army officer Burt Mizuzawa won the Republican Senate primary.
Speaker 1: He will face Democratic Senator Mark Warner in the November
Speaker 1: general election. In Missouri, Representative Wesley Bell has won a
Speaker 1: rematch in a Democratic primary against former reb Cory Bush.
Speaker 1: And that's news when you want it with Bloomberg News Now,
Speaker 1: I'm Dan Schwartzman, and this is Bloomberg