Speaker 1: Bloomberg Audio Studios, podcasts, radio news. Bloomberg Tech is a
Speaker 1: live from coast to coast with Carolline Hyde in New
Speaker 1: York and Ed Lovelow in Sent Francisco.
Speaker 2: Welcome to a special edition of Bloomberg Tech Live from
Speaker 2: CES in Las Vegas. We've been bringing you conversations from
Speaker 2: the biggest names in the industry in today we have
Speaker 2: another great lineup coming up. First, we sit down with
Speaker 2: Jim Johnson, an Intel's client computing group, to discuss the
Speaker 2: chipmaker's efforts to make its products competitive again.
Speaker 3: Plus Warner Brothers. It rejects an amended takeover offer from
Speaker 3: Paramount Skuydouts. We'll break it all down, and Paul Pastor
Speaker 3: of quick.
Speaker 2: Pay will be joined by Mobilized CEO to discuss the
Speaker 2: company's acquisition of Israeli startup Mentee Robotics in a cash
Speaker 2: and stock deal valued at nine hundred million dollars.
Speaker 3: The deals still getting done, but let's check it on
Speaker 3: these markets, which are being ruled by geopolitics once more
Speaker 3: than aw's that managing to brush that off a little
Speaker 3: bit more than the SMP. Remember we're still now record
Speaker 3: highs on the SMP. We're up another three tenser percent
Speaker 3: on the main benchmark. When it comes to the tech names,
Speaker 3: maybe less affected by what's happening in terms of geopolitics
Speaker 3: and Russia and the US at the moment out in
Speaker 3: the seas, but we're currently holding on to gaines.
Speaker 2: Geopolitics is always there I'm looking at in video. It
Speaker 2: is the mainstay of this CES week, with Gensen one
Speaker 2: speaking multiple times. The stock is up almost one and
Speaker 2: a half percent in the current session. You know, there
Speaker 2: are headlines out right now from the information that China
Speaker 2: is asking US tech companies to hold orders of H
Speaker 2: two hundred. Gens One's been peppered with questions about H
Speaker 2: two hundred for the last three days straight and you
Speaker 2: can see over three days this was not the blockbuster
Speaker 2: that we thought it would be to start the year.
Speaker 2: In video's up half a percentage point.
Speaker 4: Now.
Speaker 2: The big data point was the forecast for the next
Speaker 2: few quarters Blackwell and Rubin, and this is what Gensen
Speaker 2: one had to say about that forecast.
Speaker 5: Harbor pricing is actually going up in the cloud. All
Speaker 5: of the harbors are consumed in the cloud and now
Speaker 5: pricing spark pricing is starting to go up, and so
Speaker 5: that tells you about the demand that's been generated all
Speaker 5: over the world. So age two hundreds, I think is
Speaker 5: going to contribute also to that, and I think, all told,
Speaker 5: all told, I think we should have a very good year.
Speaker 2: That question was posed to Jenum won by Bloomberg Sean King,
Speaker 2: who's covered semiconductors here since nineteen ninety eight, and the
Speaker 2: context is that you said to him in October, you
Speaker 2: told us over five fiscal quarters, five hundred billion dollars
Speaker 2: of sales across Blackwell. And then Reuben, is it possible
Speaker 2: that that number could go up? And as we just heard,
Speaker 2: there are various reasons why Jensen thinks that number could
Speaker 2: go up.
Speaker 6: Yeah.
Speaker 7: I mean fundamentally here, all our audiences care about is
Speaker 7: are we in a bubble or not? And they just
Speaker 7: want any piece of information, any hint to explain, well,
Speaker 7: why we're not. Obviously, what he was saying was there's
Speaker 7: lots of things going on. There's new models, there's new
Speaker 7: areas of the economy that are coming into AI, and
Speaker 7: all of this means that demand is actually better than
Speaker 7: I thought it was, so that number is looking like
Speaker 7: it's a bit low. So that was good news, but
Speaker 7: nobody got that excited about it.
Speaker 3: Where they did get excited is memory storage. Oh my goodness,
Speaker 3: Sandusk is up one thousand percent from its lows. It's
Speaker 3: up fifty percent in the first three trading days of
Speaker 3: the year. In what are you hearing in terms of
Speaker 3: this demand for memory and the price point that we're
Speaker 3: going to see.
Speaker 7: I mean, as always with the memory ship industry, you
Speaker 7: either got a fee storre of famine at the moment.
Speaker 8: We're in a famine.
Speaker 7: When we're in a famine, the price goes up, right,
Speaker 7: And that is exactly what's happening right now.
Speaker 3: My demand is basically always has been.
Speaker 7: They can't build factories fast enough, they can't build production
Speaker 7: fast enough to meet these short term surges in demand.
Speaker 7: So right now the price is going up.
Speaker 2: And we're actually taking storage as well, not just the
Speaker 2: high bandwidth memory that goes around the GPU. A point
Speaker 2: of discussion on the internet has been autonomous driving. Yeah,
Speaker 2: once again, in Video came out strong with autono striving.
Speaker 2: You and I was sat next to each other in
Speaker 2: the keynote, and you can tell us about Nvideo's offering.
Speaker 2: But he's also caught the attention of Elon Musk and
Speaker 2: Tesla of course.
Speaker 6: Yeah.
Speaker 7: I mean there was a little bit of a backwards
Speaker 7: and forwards between Jensen and Elon about you know, whose
Speaker 7: system is better, and most of them ending up praising
Speaker 7: what the others doing in the end, because, let's face it,
Speaker 7: they need each other.
Speaker 8: But this is the point that we're at.
Speaker 7: We've been promised cars that are robots that can do
Speaker 7: their own thing for a very long time. Hasn't happened
Speaker 7: as fast as we were promised. And what we're being
Speaker 7: told now is we're at the cusp of this. And
Speaker 7: this is great if you're making chips, if you're making
Speaker 7: the components for these vehicles.
Speaker 3: Cars, robots. Seen a lot of them. I'm going to
Speaker 3: continue to see a lot of them. In King we
Speaker 3: thank him so much for his decades of work in
Speaker 3: the chip sector as well. But let's stay with Nvideo
Speaker 3: because of course, ed you sat down with Nvidia CEO
Speaker 3: Jensen one and Zeeman CEO Ronn Busch. Do you discuss
Speaker 3: their latest partnership the expansion of AI efforts. Just take
Speaker 3: a listen.
Speaker 9: We're announcing a big partnership between us. We've known each
Speaker 9: other for a long time, but the partnership we're announcing
Speaker 9: is really a big deal.
Speaker 2: One.
Speaker 9: We're accelerating their EDA software, We're accelerating their simulation software.
Speaker 9: We're integrating AI technology, physical AI and agentic AI into
Speaker 9: their team center and their factory automation operating system. And
Speaker 9: so we're working together across this entire spectrum. When we
Speaker 9: accelerate the software, then we'll get to use it to
Speaker 9: design our chips and systems. When we accelerate their simulation software,
Speaker 9: we'll use it in our AI factories to simulate the
Speaker 9: thermal properties of our AI factories. When we integrate our
Speaker 9: automation and agentic systems into their AI industrial operating system,
Speaker 9: we can then use it in our factory floors with
Speaker 9: our partners, for example fox Con. And so we're working
Speaker 9: across this entire spectrum together, and we're going to put
Speaker 9: the technology to use basically as soon as we can.
Speaker 2: What's the net effect for you, Jensen, Is it improves
Speaker 2: margins efficient capital allocation. I know that might sound a
Speaker 2: bit dry, but actually, right now, that's the answer everyone's
Speaker 2: searching for. How is this investment in AI and use
Speaker 2: of the technology actually changed things in the real world
Speaker 2: for me?
Speaker 9: Well, announce yesterday Vera Rubin it takes six different chips
Speaker 9: to integrate into this incredible system called Vera Rubin. And
Speaker 9: when you're done, each one of these Vera Rubin GPUs
Speaker 9: is two hundred and forty thousand wants and it is
Speaker 9: ten times more energy efficient than a last generation. It
Speaker 9: is ten times more cost efficient than a last generation.
Speaker 9: But it's still the technology is insanely complicated. One hundred
Speaker 9: fifteen thousand engineering years came together to build this system.
Speaker 9: And so when we accelerate EDA tools, when we accelerate
Speaker 9: simulation tools, and when we can eventually and I'm hoping
Speaker 9: very soon design entire Vera Ruben systems inside a even's
Speaker 9: digital twin, the chance the ability for us to create
Speaker 9: much much more complex systems, will scale, will do it
Speaker 9: much more efficiently. And so this is really about being
Speaker 9: able to do the impossible, and being able to do
Speaker 9: it impossible the impossible right the first.
Speaker 10: Time, and and and and once they then realize that
Speaker 10: AI creates real world impact, this is where it really
Speaker 10: deploys the full power and also.
Speaker 6: The economic power.
Speaker 10: It's not only in the data centers are any I
Speaker 10: factories which we see, but also on the edge because
Speaker 10: once you start influencing with low latency.
Speaker 11: You bring this technology to the edge.
Speaker 10: This is a huge potential for our customers to to
Speaker 10: deploy this technology. And this includes of course includes hardware
Speaker 10: and where we come from from the gits, it goes
Speaker 10: into the controllers.
Speaker 11: Some of our controllers.
Speaker 12: Run on GPUs and then it goes all.
Speaker 4: The way to the industrial PC.
Speaker 12: Exactly, and and the andes are aides supercharge it and
Speaker 12: they can now run algorithms trained in the cloud that
Speaker 12: can run it on the shop floor and do all
Speaker 12: that trick what we talked about it in retime optimization
Speaker 12: and running in a planned and that makes a use difference.
Speaker 2: Nvidia CEO Jensen Wang and Semen CEO Roland Bush. They're
Speaker 2: starting their own industrial revolution, is how they put it.
Speaker 2: Coming up, Intel looks to gain a competitive edge with
Speaker 2: new computers and redesigned processors.
Speaker 4: We speak with Jim Johnson.
Speaker 2: Intel Client Computing Group SVP and General Manager. That's coming
Speaker 2: up next, This is Bloomberg Tech.
Speaker 3: Intel is here at CES with a slew of new
Speaker 3: products from laptops and newly designed chips and it's part
Speaker 3: of an effort to be more competitive across its product lineup.
Speaker 3: Joining us now Jim Johnson, Intel Client Computing Group SVP
Speaker 3: and general Manager. And the way you describe it as
Speaker 3: the vibes are good, feeling positive about what you're unveiling.
Speaker 13: Yeah, it's been a long journey to get here and
Speaker 13: finally launching. You know, what we think is the most
Speaker 13: powerful mobile processor for mobile computing with our new process
Speaker 13: Note eighteen A is something the industry has been waiting
Speaker 13: for and wondering if we would pull off.
Speaker 3: Okay, for those that aren't deeply within the industry and
Speaker 3: coming to your foundry and understanding what's going into this
Speaker 3: new processor, the Core Alter series three. What makes them different.
Speaker 13: We took our most powerful mobile processor from last year
Speaker 13: and built it on the most power efficient mobile processor
Speaker 13: from last year, combining those two capabilities, and so we
Speaker 13: run workloads from last year at forty percent lower power
Speaker 13: this year on this processor.
Speaker 8: And it's I asked.
Speaker 13: I've been asking, knowing I've been coming here, I've been
Speaker 13: asking our customers what would you say? They'd say, super powerful, surprisingly,
Speaker 13: power efficient.
Speaker 6: That's what they told me last night.
Speaker 2: So here's the thing, Jim, and with respect AMD and
Speaker 2: qual customers would say the same thing. You know, AMD
Speaker 2: and qualcom have already been out there this week saying
Speaker 2: that their processors and parts, best battery life, best performance,
Speaker 2: and they both argue that they're taking share.
Speaker 4: Right, What data.
Speaker 2: Points can you point me to that would evidence Intel's
Speaker 2: back in the lead in that market based on this technology.
Speaker 13: I get asked quite often what's the killer app for
Speaker 13: an AIPC, And up until this part I didn't have
Speaker 13: an answer. But if you're into mobile gaming, we built
Speaker 13: a GPU in Series three with an AI capability called
Speaker 13: multi frame generation. So you would typically render a frame
Speaker 13: and then render a frame in between. You can now
Speaker 13: use AI called multi frame Generation. It's quadruple in the
Speaker 13: frame rate and super smooth play. So I will take
Speaker 13: that system up against any of our competitors. If you're into.
Speaker 4: Mobile games, it is Intel in the lead, I believe.
Speaker 2: So, yes, twenty twenty six is fascinating. Bigger picture, you
Speaker 2: have some fore Karta's forecasts. Is I think IDC saying
Speaker 2: that the market will shrink nine percent this year? We
Speaker 2: have others saying it will grow literally because of AIPC.
Speaker 4: What is your kind of forecast?
Speaker 2: And you know it comes back to the same question
Speaker 2: we've had at CES for a couple of years now
Speaker 2: is does the AIPC resonate with anyone at the corporate level,
Speaker 2: at the consumer level.
Speaker 13: So a couple things. So that is part of the
Speaker 13: conversation we're having this week. But the feedback I keep
Speaker 13: getting from our customers is keep ramping supply of these
Speaker 13: new processors because they believe they're going to win with them.
Speaker 13: And from an AI standpoint, another thing that's happened because
Speaker 13: we've been deploying aipcs now for two years, we have
Speaker 13: the equivalent of forty data center's worth of compute on
Speaker 13: the edge, and now we have like Arvin, the CEO
Speaker 13: of Perplexity, came and did a talk with me and
Speaker 13: he's now figuring out with us how to run portions
Speaker 13: of his comment browser directly on the AIPC.
Speaker 6: For four reasons.
Speaker 13: He sees better performance, he sees better security and privacy,
Speaker 13: see better cost, but for more importantly, more control.
Speaker 6: So for business they have more control.
Speaker 13: So I'm seeing these big AI companies actually start to
Speaker 13: tap into what can they do more locally. Same with
Speaker 13: so I guess another thing that happened is edge computing.
Speaker 13: I know you've been talking about edge computing between cloud
Speaker 13: and PC. We used to sell these parts maybe a
Speaker 13: year or two after we launch them into factories and
Speaker 13: so forth. But because the Series three process is really
Speaker 13: good at perceiving the environment with our visual processor and
Speaker 13: doing motor control of factory equipment and robotics, we have
Speaker 13: demand on day one for Series three from edge customers.
Speaker 3: So let's talk about the supply. Because you have got
Speaker 3: vertical integration, you're actually using your foundries, you are printing
Speaker 3: this silicon.
Speaker 13: Yes, and we're building capacity specifically for client and that's
Speaker 13: a real value proposition for our customers because they can
Speaker 13: depend on us to keep supporting our product lines for them.
Speaker 3: In a way, you are the current of your own
Speaker 3: OWL boundary. Why did you go with them not t SMC?
Speaker 3: What turned you to think, Okay, these are the ones,
Speaker 3: this is the supplier I need.
Speaker 13: There's three things that they did with eighteen A that
Speaker 13: it's really impressive. They use the latest UV technology you can.
Speaker 6: Buy tag yousml YEAP, Yeah, that's right, that's right. And
Speaker 6: they did two new unique innovations.
Speaker 13: We call it ribon fet or gate all around and
Speaker 13: backside power delivery so you can separate power from signals.
Speaker 13: We get fifteen percent better performance per w and multiply
Speaker 13: that times twenty or twenty five watts in a PC
Speaker 13: and we have thirty percent better chip density, and so
Speaker 13: that allows us to compact our design, which allows our
Speaker 13: customers to compact their design and put in bigger batteries,
Speaker 13: and so you get they're now driving all day battery
Speaker 13: life to multi day battery life.
Speaker 2: Jim, I think we have to end by talking about pricing.
Speaker 2: You know, the background is that memory is an issue
Speaker 2: at the moment. How do you manage it? Do you
Speaker 2: pass on the cost or whether the storm feast and famine,
Speaker 2: sicklical memory problems. You're you've been around right with.
Speaker 6: Respect, it's a conversation we're having this.
Speaker 2: Week, conversation or an acknowledgement that it's a problem.
Speaker 13: Well, it definitely is an issue in the industry. Our
Speaker 13: customers are struggling on what they're going to do with it,
Speaker 13: and they haven't decided yet. But what they're asking us
Speaker 13: to do is keep our build plans solid because in
Speaker 13: twenty twenty six they see a chance to really gain
Speaker 13: share on the back of Series three.
Speaker 4: We just have a few seconds.
Speaker 2: Does the PC market grow, stay flat or shrink in
Speaker 2: twenty twenty six.
Speaker 13: I think it's going to be plus or minus where
Speaker 13: it's at now. Some people are much more dire than that.
Speaker 13: But we have the same conversation when Terris came up,
Speaker 13: and all the predictions, whether really drastic or big pull ins,
Speaker 13: they kind of didn't come true. There was something more
Speaker 13: in the middle. So we're planning for more in the middle.
Speaker 13: But of course we'll react with our customers as we
Speaker 13: need to.
Speaker 2: Jim Johnson, Intel Client Computing Group SVP and general Manager,
Speaker 2: thank you so much. Up a conversation with Qualcom Cristianamon
Speaker 2: on why robotics is the next big thing in AI
Speaker 2: and they're not alone in that.
Speaker 4: This is Bloomberg Tech.
Speaker 2: Robotics is the next big opportunity in AI. That's according
Speaker 2: to Qualcom CEO Christiano I'm on Carra sat down with
Speaker 2: him here at CES in Las Vegas yesterday.
Speaker 4: Listen to this.
Speaker 14: Yes, look, we're incredibly excited about this is a new chapter.
Speaker 14: I think of the Qualcom expansion and diversification, I think
Speaker 14: we're going to robotics. We like robotics a lot because
Speaker 14: by definition, is an edge AI problem to solve, not
Speaker 14: different than what we did in automotive. You cannot put
Speaker 14: a server in a robot. You need bettery life, you
Speaker 14: need a lot of integration as sensors and physical AI
Speaker 14: is a massive opportunity and it's an EDGAI opportunity. So
Speaker 14: as we look at this transition of qualcom into a
Speaker 14: new industry, we went to automore, motive, to PC to industrial,
Speaker 14: UH to data center. Now robotics this is the next opportunity.
Speaker 14: We actually have a number of robots here at our
Speaker 14: booth at CS demonstrating training humanoids Industrial. I think we
Speaker 14: started UH the year working with some of you know,
Speaker 14: great companies German Kouka, Figure AI, and I think it's
Speaker 14: going to be a great opportunity and robotics it's perfect
Speaker 14: for you to have high performance computing and low power
Speaker 14: connectivity is an edge AI problem and I think it's
Speaker 14: going to be the next big wave of AI physical AI.
Speaker 3: How soon is that reality? Already we have robots in
Speaker 3: manufacturing and industrials, but how soon is it fully autonomous robots?
Speaker 3: How soon do we start to have the humanoid versions
Speaker 3: in our houses.
Speaker 14: Look the way we think about this is things that
Speaker 14: you didn't find were possible to do with a robot,
Speaker 14: you can do it.
Speaker 6: Right now, use an AI.
Speaker 14: I think industrial robot is the big largest opportunity that
Speaker 14: we see in front of us, and it's probably starting
Speaker 14: as early as twenty twenty six. When you train use
Speaker 14: AI to train a robot on one given task, it's
Speaker 14: it's a very well defined problem, and you can do
Speaker 14: this and you put into production consumer robot, the one
Speaker 14: that is going to be in your house and do
Speaker 14: everything for you. It's gonna take a little bit of time,
Speaker 14: but it's going to happen and it's going to be
Speaker 14: a big opportunity. I like to do this parallel that
Speaker 14: we saw with automotive when we start talking about autonomous cars,
Speaker 14: a lot of companies went in and said, we're just
Speaker 14: going to get this full autonomo robotax in, but until
Speaker 14: you get there, you can do assist the driving to
Speaker 14: every car on the road, assuming that the driver is
Speaker 14: there to pick it up. And we've seen in ads
Speaker 14: level two, level three highway highway autopilot that's.
Speaker 6: What we're doing.
Speaker 14: I think the same parallel applies to robotics. First, you
Speaker 14: have a lot of enterprise in the industrial applications. We
Speaker 14: see companies form when retail at night robot go to
Speaker 14: the aisles of the supermarket and restuck the shelves.
Speaker 6: Something very simple.
Speaker 14: That opportunity is happening right now. Over time, we're gonna
Speaker 14: have the domestic robots that would do.
Speaker 6: Everything for you.
Speaker 3: Carl Concio, Cristiano, I'm on there trying to be a
Speaker 3: little bit more realistic about how soon we're gonna have
Speaker 3: humanoid robots in our homes. But robotics is one of
Speaker 3: the key themes that everywhere here in ces right now book.
Speaker 3: Sam Kelly should have been tracking them on the shop
Speaker 3: floor should we call it in the time, I mean
Speaker 3: everywhere you look as a humanoid, is that your vibe?
Speaker 3: And is everyone taking that form factor?
Speaker 15: Yeah, it's so funny. Yesterday I was walking around. I
Speaker 15: saw one playing ping pong, one.
Speaker 3: Made me a latte.
Speaker 15: There was a chess robot, you know, and some of
Speaker 15: them were on the enterprise side too, showing what it
Speaker 15: could be like.
Speaker 16: On the assembly line.
Speaker 15: But yeah, humanoids in particular are really big. This year
Speaker 15: we saw during a Quino, LG had its Cloyd robot
Speaker 15: come out folding laundry. Lots of laundry folding robots as well,
Speaker 15: and I think it shows one thing that's really interesting
Speaker 15: is before a lot of these were in controlled experiments.
Speaker 15: Of course that's still happening, but companies are now coming
Speaker 15: out doing more live demos, which shows a little bit
Speaker 15: more confidence, a lot of growth. Also, we've seen some
Speaker 15: challenges around hand finger movements. Legs is another challenge.
Speaker 16: So certainly challenges.
Speaker 4: Ahead, dexterity.
Speaker 2: I mean, when we were speaking to Jensen Wong, you say,
Speaker 2: you know he labels this the chat GPT moment for robotics, right,
Speaker 2: but there are still challenges.
Speaker 16: Oh yeah, Is there.
Speaker 2: Any acknowledgement here on the showroom floor that we aren't
Speaker 2: going to see these robots in our homes tomorrow?
Speaker 16: Yeah?
Speaker 15: I mean I think we can see that just by
Speaker 15: sometimes looking at a demo and it might take a while,
Speaker 15: or even with LG the robot was doing the laundry,
Speaker 15: but it took a long time. It was a little
Speaker 15: painfully slow. So we're certainly not there yet. And also
Speaker 15: just to have it in the home, you have cluttered homes.
Speaker 15: Homes are unpredictable. You have to be really careful, especially
Speaker 15: with humanoids with legs. You don't want them falling. So
Speaker 15: we are certainly very this is not happening anytime too soon, And.
Speaker 3: That's what this is about. This is about pushing forward
Speaker 3: the innovations, thinking what's coming in the next decade, maybe
Speaker 3: not the next ten months, but some What are you
Speaker 3: seeing in terms of health and wellness? Because I'm hearing
Speaker 3: a lot about robots, perhaps therefore mental health, full caring
Speaker 3: for the elderlady, but you'll see a lot of other
Speaker 3: areas what health and wellness.
Speaker 15: Is, Yeah, exactly different form factors. So we're all familiar
Speaker 15: with the smart watches and the smart rings, of course,
Speaker 15: but now yesterday I saw a toothbrush that predicts signs
Speaker 15: of longevity, whether you might be more likely to get
Speaker 15: a certain type of disease or kidney issues from a
Speaker 15: toothbrush because of saliva is actually a little bit more
Speaker 15: of a predictor than just like the skin. Yes, so
Speaker 15: the different form factors like that. I saw a longevity
Speaker 15: mirror that analyzed my blood flow to predict maybe perhaps
Speaker 15: signs of either hypertension down the line or other heart
Speaker 15: health things like that. Also a smart night guard, so
Speaker 15: people who grind their teeth at night. In addition, it'll
Speaker 15: like nudge you so you step doing that. But it
Speaker 15: also again with the saliva you're sleep and it'll predict
Speaker 15: issues long term issues with your health, but also it'll
Speaker 15: tell you how well you're sleeping, sleep tracking, sleep apnea,
Speaker 15: things like that. So different types of health is coming
Speaker 15: into different form factors.
Speaker 6: That's super quick.
Speaker 16: You've been to many cees.
Speaker 4: Yeah, the vibe relative to prior.
Speaker 15: Years, Yeah, it feels like exciting, you know, to the
Speaker 15: point of like a chat GBT moment. People are really
Speaker 15: excited to be here and show off different new things.
Speaker 15: And I think there's you know, who knows what you know,
Speaker 15: this is a testing ground. Who knows what really is
Speaker 15: going to happen, But there's definitely a level of excitement.
Speaker 2: You're trying to check out what Sund's been writing about
Speaker 2: on Bloomberg dot com write character.
Speaker 3: Yeah, you're going to have a big conversation later. It's
Speaker 3: all going to be about health wellness, AURA and particularly
Speaker 3: about what well how this goes in sync with the FDA.
Speaker 2: Right when you think about help Tom Hale or a
Speaker 2: CEO the ring wearable. I'm not an AURA awarer, but
Speaker 2: you know right now they have a lot of questions
Speaker 2: about how they go beyond, particularly a female user base.
Speaker 4: To come Bluemosum Kelly, thank you.
Speaker 2: Coming up, we've got a big conversation with Mobile Ized
Speaker 2: CEO and non Shahu after the acquisition of a robotics company, Mentee.
Speaker 2: It is halftime. We are in Las Vegas. This is
Speaker 2: CS stay with us, this is Bloomberg Tech.
Speaker 3: Welcome back to Bloomberg Tech, a very special edition live
Speaker 3: in Las Vegas for CES. Let's take a look at
Speaker 3: these markets, because look, we are being ruled to this
Speaker 3: can extent by fresh geopolitical tension. But not then as
Speaker 3: that one hundred we remain in gains up a quarter
Speaker 3: of a percentage point. Yes, there's all eyes on Memory makers,
Speaker 3: Yes there's all eyes on Video and AMD post some
Speaker 3: of their announcements, but we want to put all our
Speaker 3: eyes on one particular stock right now. Ed because Mobile
Speaker 3: I yesterday had a pretty key announcement a new deal,
Speaker 3: a deal to the tune of nine hundred million dollars
Speaker 3: combining cash mobilized shares to buy Menty Robotics, and the
Speaker 3: dealers expect to be closing the first quarter of twenty
Speaker 3: twenty six, we're still in gains up three times percent.
Speaker 3: Were significantly off of our hives as the market digests
Speaker 3: what this deal really means. We've got a perfect person.
Speaker 3: I'm asking what it means. I'm not Shashure has here
Speaker 3: with us Mobile I CEO is wonderful TOI some time with.
Speaker 11: You, Sam, wonderful to be with your Carolina Ed.
Speaker 3: Why is it right for you to go from autonomous
Speaker 3: driving into the world of robotics.
Speaker 17: Well, Mobilize, an AI company in the field of autonomous
Speaker 17: driving driving, says the full spectrum of a computer vision
Speaker 17: and AI to control cars and humanoid robotics has been
Speaker 17: recognized in the past two or three years as a
Speaker 17: complementary domain and Mobiliz wants to it's not only another
Speaker 17: growth engine, but from a technological point of view, if
Speaker 17: you are an actor in this area of physical AI,
Speaker 17: you want to then extend it to the full scope
Speaker 17: of physical AI. And I believe that robotics, humanoids, they
Speaker 17: have a great future. Now maybe it's a long term
Speaker 17: plate that it's not, you know, a year from now,
Speaker 17: but I believe it has a significant, exciting future. And
Speaker 17: from Mobilize, there's synergetic areas in infrastructure, in AI, in software,
Speaker 17: in AI talents.
Speaker 11: So from Mobiliz, this is a great move.
Speaker 3: I mean of course, in many ways, people say you
Speaker 3: think that because you helped found menty your son's work
Speaker 3: at MENTI help me get comfortable with that because many
Speaker 3: have thrown such accusations. Elon must sway sometimes previous acquisitions
Speaker 3: and not liked it.
Speaker 17: Well, it's called the related party transaction. Has been done
Speaker 17: in the past and will be done in the future,
Speaker 17: and there are ways to handle it, like being recused
Speaker 17: from decision, which I did and so forth. And you know,
Speaker 17: my son has a zero point zero zero zero zero
Speaker 17: one percent is just an employee, so it's not a
Speaker 17: big deal. You know, he graduated from computer science and
Speaker 17: he wanted to do some work and go work for
Speaker 17: a company that is very very strong and AI working
Speaker 17: on the future of physical AI. So it makes sense.
Speaker 17: But you know that is really immaterial. The material part
Speaker 17: is the scope of AI. You know, physical AI includes humanoids,
Speaker 17: includes autonomous driving, and it makes a lot a lot
Speaker 17: of sense. Now, Mobili over the years was always looking
Speaker 17: for a new growth engine, right for example, take computer
Speaker 17: vision and applied maybe to security areas in cameras and
Speaker 17: so forth, But we never found something that really clicked,
Speaker 17: found something that has significant modes, that has a significant
Speaker 17: teram and humanoids is becoming that click is becoming this area.
Speaker 11: Where are you coming to growth?
Speaker 2: You know, I've been talking for years about you know,
Speaker 2: mobilized existing footprint and then it's go to market in
Speaker 2: the future.
Speaker 4: What's the go to market for mente?
Speaker 17: Well, we said to go to market in two phases.
Speaker 17: The first phase is structured environments like warehouses, assembly plants,
Speaker 17: retail where the number of tasks are finite are also
Speaker 17: understood in advance. What are the tasks that the customer
Speaker 17: is interested. A customer will buy a fleet of robots,
Speaker 17: not just one robot, and you can customize per customer
Speaker 17: that I think based on pocs that the mentee has
Speaker 17: been doing. If you look at the demonstrations that have
Speaker 17: been showing like robots picking boxes, moving them from place
Speaker 17: to place.
Speaker 4: You wouldessentially just sell the hardware.
Speaker 11: A seller robot, either sell or Lisa robot.
Speaker 17: We believe that the manufacturing costs in a reasonable volume
Speaker 17: of tens of thousands of robots would be twenty thousand dollars.
Speaker 17: So this gives a lot of flexibility in a business model.
Speaker 17: So this is phase one. We believe it will start
Speaker 17: in twenty twenty eight. Phase two is unstructured environments like
Speaker 17: home use that is much more complicated because the tasks
Speaker 17: are open ended.
Speaker 11: You need to continuously learn.
Speaker 17: So it's not that you can prepare yourself to all
Speaker 17: the possible tasks in a home home use, so you
Speaker 17: need new technology. So it's not that the same technology
Speaker 17: you use for structured environments. And this is one of
Speaker 17: the things that I showed in my keynote, a technology
Speaker 17: that Minty and this is why Minty is called Minty
Speaker 17: from mentory. The robot is watching passively watching a human
Speaker 17: showing a new task, and.
Speaker 11: The video goes up to the cloud.
Speaker 17: In the cloud, there's a foundation model that takes the video,
Speaker 17: moves it into a simulator, trains over the simulator. Today
Speaker 17: it's a few hours in the future, a few minutes
Speaker 17: goes back.
Speaker 11: To the robot and the robots perform the test.
Speaker 2: Let's go back to your core business and on this
Speaker 2: week in video showed us a full stack solution for
Speaker 2: autonomous driving. You know, they make arguments that their software
Speaker 2: and hardware competencies will make them win your evaluation of
Speaker 2: what they're offering against what you plan to do. Costs
Speaker 2: for a mile basis, how worried you are.
Speaker 17: I'm not worried competition. I believe it's always good. It
Speaker 17: kind of ignites the market. In my keynote, I had
Speaker 17: Christian Zenger, the CEO of Folkswagen Autonomously Cars, chairman of Moya,
Speaker 17: come to the stage and talk about one hundred thousand
Speaker 17: vehicles the next eight years, one hundred thousand robotaxes in
Speaker 17: the next eight years. Talked about that we are almost
Speaker 17: there in removing the driver, going driver less in Q three.
Speaker 2: Yeah, but are they using mobiliz Yeah, of course this
Speaker 2: is clad iron, claud this is a mobilize.
Speaker 17: There are one hundred id bus vehicles in multiple locales.
Speaker 11: All of them is mobilized.
Speaker 17: Tack and we are really on the way of removing
Speaker 17: the driver and a very cost effective solution. Our sensor
Speaker 17: set is, you know, ten thousand dollars twelve thousand dollars.
Speaker 17: Compute is very very cost cost optimized. Mobilized chips are
Speaker 17: one tenth of the cost of competing chips. We developed
Speaker 17: our imaging radars which are the best on the planet,
Speaker 17: those imaging radars. I feel very confident that we are
Speaker 17: on our way to a new growth engine.
Speaker 16: With the Robotax your striking deals.
Speaker 3: We understand as us all to make it that you
Speaker 3: struck a deal with the nine million cars for safety software.
Speaker 17: Okay, US automaker. There are three to four no pick one.
Speaker 17: But I think that this nine million units is a
Speaker 17: big news because we are talking about the evolution of AIDAS.
Speaker 17: So AIDAS today is a front facing camera. Maybe you
Speaker 17: have a front facing radar. This nine million units is
Speaker 17: called surround aidas. You are taking a front facing camera,
Speaker 17: four parking cameras, multiple radars, a very strong value proposition
Speaker 17: to the customer, and it replaces multiple ECUs in the car.
Speaker 17: It replaces the aco A parking a CEO.
Speaker 11: Of aed driving monitoring system, hands free.
Speaker 17: Driving on highways, safety functions for the next five years.
Speaker 17: So this is the evolution of AIDAS, and it's high volume.
Speaker 17: We have two customers in the past year, Volkswagen and
Speaker 17: this US customer nineteen million units.
Speaker 4: This is big AI twenty one.
Speaker 2: We're hearing that in Vidia, mister Fong is quite interested
Speaker 2: in another one of your companies. He's here this week.
Speaker 2: What can you tell us about how talks are going.
Speaker 2: Did you manage to speak to Jensen while here?
Speaker 17: You know the Israeli press is not as tight as
Speaker 17: the US press, So don't believe anything you read in
Speaker 17: the Israeli press media.
Speaker 11: No that there are talks, are talks.
Speaker 17: On Vidia, talks with others, but no, it's nothing even
Speaker 17: close to talking about it in the press.
Speaker 3: How do you think Mobile I investors would feel about
Speaker 3: an acquisition of AI twenty one by and.
Speaker 17: It has nothing to do or the I twenty one
Speaker 17: is working on foundation models and agents, has nothing to
Speaker 17: do with activity of Mobilize, activity of Minty Mobili is
Speaker 17: physical AI busy man by man man.
Speaker 2: Yeah, the time here at the ces Las Vegas amnon
Speaker 2: Shashua Mobili CEO, thank you very much.
Speaker 4: Coming up, we have a whole lot more we speak
Speaker 4: with the quick.
Speaker 2: Play CEO Paul Pasta, as Warner Bros. Says paramounts amended
Speaker 2: offer remains quote inadequate.
Speaker 4: This is Bloomberg Tech. Warner Bros.
Speaker 2: Is rejected Paramounts Guidancewer's latest amended offer, calling the company's
Speaker 2: revised bid quote inadequate and urging shareholders to stay the
Speaker 2: course with Netflix. Here discussed the state of media and
Speaker 2: streaming is Paul Pastor Quick Play Chief business Officer Paul
Speaker 2: also previously held senior executive positions the Discovery Communications and
Speaker 2: the Walt Disney Company.
Speaker 4: There's a lot in the sort of structure of.
Speaker 2: The deal that the Warner Brothers Discovery board points out.
Speaker 2: A lot of it has to do with the debt
Speaker 2: load of the Paramount deal. So there's something interesting in
Speaker 2: it that I wanted to pick out, which is, we
Speaker 2: don't agree how valuable table networks are. So the street
Speaker 2: and the investors would say, actually, they're much more valuable
Speaker 2: than you're giving them credit for. Paramount Skuydiance would say,
Speaker 2: in our thirty dollars share offer, we don't think they're valuable.
Speaker 2: Therefore the thirty dollars a share offer is a great
Speaker 2: premium because we want the whole thing.
Speaker 18: How do we value those networks? Gusha was another great question.
Speaker 18: I mean, it really is a difficulty to manage. At
Speaker 18: this moment, we're talking about a really big shift in
Speaker 18: the ecosystem.
Speaker 2: Right.
Speaker 18: We've had these traditional channels around broadcast cable that have
Speaker 18: been almost cash cass for these businesses for a long time.
Speaker 18: Then the shift of streaming and the ability to build
Speaker 18: those businesses with lower margins. Right, but now we're seeing
Speaker 18: with price increases, advertising dollars moving in that it's actually
Speaker 18: a great value and now a huge shift into this
Speaker 18: creator economy and thinking about shormcom content, And then you
Speaker 18: have to evaluate those assets against those big shifts in
Speaker 18: the ecosystem.
Speaker 16: They still have value, they still.
Speaker 18: Spin off cash, They still can be the home for
Speaker 18: reach and advertising, but the real value has shifted the
Speaker 18: advertising dollars of did in.
Speaker 16: A new direction.
Speaker 2: Well, we're going to remind our audiences a state of play,
Speaker 2: because in a deal like this you get some fatigued.
Speaker 2: But Netflix is basically saying we want the streaming business
Speaker 2: in the studios, will spin out the legacy networks, paramounts, guidance,
Speaker 2: wants the whole enchilada. In your mind, which result would
Speaker 2: make most sense for the consumer, you know, and what
Speaker 2: they would actually use those platforms for sure?
Speaker 18: Well, listen, I think that there's absolute value for the
Speaker 18: consumer and for the shareholders most certainly in a Netflix
Speaker 18: Warner Brothers combination.
Speaker 16: Right, you have superior storytelling.
Speaker 18: Capabilities coming from the HBO Max and the Warner Legacy
Speaker 18: and their entire library, coupled with what is superior tech.
Speaker 18: Netflix has led the industry in personalization, in driving, new
Speaker 18: features right and algorithms. That combination is certainly unique. Now
Speaker 18: does that mean that's the best consumer I don't know.
Speaker 18: Does the storytelling capabilities that are combined with Paramount coupled
Speaker 18: with Warner deliver more value into the ecosystem in general
Speaker 18: and for consumers overall who get great enjoyment out.
Speaker 16: Of those stories. That's a difficult equation to value.
Speaker 18: But I can most certainly see there's value in the
Speaker 18: greatest tech and greatest storytellers coming together.
Speaker 3: Well, perhaps that isn't value for for consumers. Right now
Speaker 3: is three companies getting caught up in a lot of
Speaker 3: admin and fighting and regulatory discussions rather than focusing on
Speaker 3: the business and innovating. How much is that a risk?
Speaker 18: I think this is the biggest risk of any big
Speaker 18: transaction and M and A activity. Right, the focus becomes
Speaker 18: how do these companies potentially come together? Everybody internally thinks
Speaker 18: about what is my role in this transition? And no
Speaker 18: one's focused on the fact that they're competing with an
Speaker 18: ecosystem that is evolving around them. Right, we saw that
Speaker 18: social media platforms are taking over not only viewership but
Speaker 18: total ad dollars this year. There is a huge shift
Speaker 18: into the creator economy. And if you're just focused on
Speaker 18: how do we put these two companies together versus the
Speaker 18: competition that is outpacing you with tiktoking, YouTube and others,
Speaker 18: you're going to be further behind by the time you
Speaker 18: complete this transaction.
Speaker 3: And we haven't even discussed AI yet. And you think
Speaker 3: about the big deal that was announced between sous of
Speaker 3: Disney and open Ai at the tail end of last year,
Speaker 3: is that's my viewing experience is going to be like
Speaker 3: going forward? When I turn on Disney Plus, what does
Speaker 3: it look like as a screen?
Speaker 18: So I think this is going to be the biggest
Speaker 18: piece of innovation we see in twenty twenty six. So
Speaker 18: AI for the last year has been about doing discreete projects.
Speaker 16: How do I create a vertical video?
Speaker 18: How do I think about leveraging it to help improve
Speaker 18: the algorithm. But what we've really got to be focusing
Speaker 18: on today, right is how do we think about the
Speaker 18: entire ecosystem I'm playing in multiple universes?
Speaker 16: What is that consumer experience?
Speaker 18: Like I believe this year, instead of when you download
Speaker 18: the app and you hit a wall that says pay now,
Speaker 18: you'll see in the future people pushing short form content
Speaker 18: as a way to discover it's a way to engage consumers,
Speaker 18: a new way to engage a conversation. That data from
Speaker 18: there begins to inform how I get.
Speaker 16: A cold start?
Speaker 18: So how do when I first go into that experience,
Speaker 18: how is it customized for me?
Speaker 6: Right?
Speaker 18: How do I ensure that I'm going to be able
Speaker 18: to retain that consumer? Then all those interactions over time
Speaker 18: also become part of this greater ecosystem that says, now
Speaker 18: I know what to serve you, how to engage you,
Speaker 18: how to retain you, and how to reach you on
Speaker 18: other platforms.
Speaker 16: And that's really when we.
Speaker 18: Begin to think about the value of what AI can
Speaker 18: deliver when it's managed as an ecosystem.
Speaker 2: We've talked a lot about chips and robots and consumer gadgets.
Speaker 2: I think it would be really helpful to give your
Speaker 2: kind of media and entertainment.
Speaker 4: Experience of what it's been like at CES.
Speaker 2: Very conscious, a lot of the advertisers are here very
Speaker 2: conscious that actually the mode which you consume that content
Speaker 2: is on display.
Speaker 4: What has it been like for you?
Speaker 18: Yes, for us, as I scussed a little bit earlier,
Speaker 18: it used to be very discrete investments that we were
Speaker 18: seeing across the AI spectrum. I think today people are
Speaker 18: thinking about how do I look at AI as foundational
Speaker 18: to the way I operate with my technology and with
Speaker 18: my consumers. And that's the big shift I think in
Speaker 18: the mindset. And now they're coming to us and looking
Speaker 18: for solutions at scale, at huge enterprise, across.
Speaker 16: The multiple ecosystems. That's been the big shift for us.
Speaker 2: We probably should have done this at the start, which
Speaker 2: I apologize, but just what is quick play?
Speaker 8: Yeah?
Speaker 4: Yeah, give us the quick play some absolutely.
Speaker 18: So We're at a company that basically builds out OTT services,
Speaker 18: so over the top television services, all the back end,
Speaker 18: everything from in jests of the time it ends up
Speaker 18: on your device, and where we have pivoted right is
Speaker 18: how to actually enable that through AI?
Speaker 16: How do you leverage those AI tools to.
Speaker 18: Ensure not only can I create short format a long
Speaker 18: form respond to social signals that are happening in the universe.
Speaker 18: To be able to say, hey, there's a conversation happening
Speaker 18: around bad Bunny appearing on SNL, how do we participate
Speaker 18: in that conversation with our content to drive new engagement,
Speaker 18: to drive new retention strategies, to drive new acquisition strategies,
Speaker 18: but we're also thinking.
Speaker 16: About that entire data fabric to create those experiences that
Speaker 16: are hyper personalized.
Speaker 3: Well pastor great speaking with you quick play chief business
Speaker 3: officer on all things media and tech. But coming up,
Speaker 3: we're going to bring you part of our conversation with
Speaker 3: a General Catalyst CEO comment to Nager and how he
Speaker 3: sees AI impacting the consumer experience. That's next. This is
Speaker 3: brettly BG Tech. AI valuations tricky topic, so says General
Speaker 3: Capitalist CEO IM in Teenasia. That's one way that he
Speaker 3: put it. We sit down with him here at CES
Speaker 3: to discuss his views on AI valuations and whether it's
Speaker 3: all hype or not, and some potential ipeos on the
Speaker 3: line take listen.
Speaker 19: Valuations are a tricky topic and I feel like they
Speaker 19: always provide me right wrong in hindsight. But if you
Speaker 19: break down the kinds of companies that get funded today,
Speaker 19: there's a ton of dollars going into a handful of
Speaker 19: big research projects. Yeah there the valuation.
Speaker 8: Your guess is as good as mine.
Speaker 19: It really is about you know, ownership, and that's enough
Speaker 19: to incentivize the teams because they're research projects. You don't
Speaker 19: know when they're going to become businesses or if they're
Speaker 19: going to become businesses. And then there's companies where they're
Speaker 19: real use cases applied AI use cases. There the valuations
Speaker 19: sound extraordinary at the moment, but the progress happens so
Speaker 19: fast in some of these companies that they grow into
Speaker 19: it fast as well.
Speaker 8: So I think it's a nuanced dynamic.
Speaker 19: And what's What's the thing that is confusing for me
Speaker 19: A lot of times when I look at these companies
Speaker 19: that are growing, is not about are we pricing it
Speaker 19: right in the context of their revenue or their revenue growth,
Speaker 19: but much more.
Speaker 8: About are they going to be around?
Speaker 19: Are there models going to be smart enough to do
Speaker 19: a lot of what some of these companies are doing
Speaker 19: and just do it themselves, or are there applied to
Speaker 19: which applied the AI companies will be durable on top
Speaker 19: of the LLLM innovation that's going on.
Speaker 3: Anthropic you're in that's durable.
Speaker 19: Yes, yes, look first of all topics, you know, I
Speaker 19: have a lot of respect for Daria.
Speaker 8: What is accomplished and a team there, it's durable.
Speaker 19: They've built a great set of models, They've been very
Speaker 19: capital efficient, and the thing that's interesting is they also
Speaker 19: have an amazing set of use cases on top that
Speaker 19: are taking hold.
Speaker 8: So it's not just the model.
Speaker 19: Companies also applied AI right, Claude, it's really redefining the
Speaker 19: engineering department and just think about the size of that market.
Speaker 19: You might use spend on tools and engineers to be
Speaker 19: able to build products, and you know, the amount of
Speaker 19: progress is like Silicon value companies now code self right
Speaker 19: for most of what they do. I think it's a
Speaker 19: real transformation with clouds really enabled.
Speaker 3: I know you're very passionate about, like the democratization of
Speaker 3: access to some of these companies. Anthropic might go public?
Speaker 3: Is that should it be going public sooner? Should the
Speaker 3: next round be one that comes to the masses rather
Speaker 3: than perhaps going to let another venture or another crossover
Speaker 3: round where they remain private.
Speaker 19: Yeah, look, I think the company has to decide that.
Speaker 19: But do they have the size and scale to go
Speaker 19: public in the next twelve to eighteen months. I think
Speaker 19: they certainly can. I think there's going to be a
Speaker 19: variety factor they'll have to weigh to decide, you know,
Speaker 19: when they think it makes sense to be public, when
Speaker 19: they're predictable enough. Because so much is changing in the
Speaker 19: market itself and the dynamics.
Speaker 8: It's actually hard to credict growth.
Speaker 19: When we invest in Anthropic, we model a certain amount
Speaker 19: of growth. The company grew three times faster than that,
Speaker 19: so you know, we look good in hindsight. But we
Speaker 19: thought we were just doing a reasonable and in my opinion,
Speaker 19: reasonably expensive pricing for that round and end up being
Speaker 19: you know, we would look look great at hindsight. So
Speaker 19: it's hard to predict, you know, how these companies are
Speaker 19: going to scale for a little bit longer.
Speaker 2: That was General Catalysts CEO him On Tenaga, Speaking of IPOs,
Speaker 2: Discord filed confidentially for an IPO, according to our sources,
Speaker 2: adding to a rapidly growing pipeline of bench capital backtech listings.
Speaker 4: Carol, you broke the story with our mate Bailey Lipshaltz.
Speaker 2: The details are important, right, Like Discord, it's a platform
Speaker 2: that I've used, But what do we.
Speaker 4: Need to know here?
Speaker 3: Yeah, because you're a gamer and it all started a
Speaker 3: decade ago, and it's really a gaming chat platform that's
Speaker 3: morphed into much more than That's got two hundred million
Speaker 3: users on average on a monthly basis. They have an
Speaker 3: interesting executive leadership reshuffle of last year. They've now got
Speaker 3: an Activision Blizzard alumni as the CEO of someone who
Speaker 3: worked at King, someone who can really steer the monetization
Speaker 3: part of the business now because ez Citra and the
Speaker 3: co found has gone over to the board level. But
Speaker 3: this really does build this kind of fire feeling of
Speaker 3: IPO pipeline. We've got motive waiting in the wings. We
Speaker 3: understand there's plenty of others the smaller nature, but we're
Speaker 3: talking about anthropic, we're talking about maybe opening.
Speaker 4: It's interesting.
Speaker 2: They're like they have Goldman and JP Moore been working
Speaker 2: on it and we understand, right, but last year was
Speaker 2: better for IPOs in tech than twenty twenty four.
Speaker 3: Was fifteen billion dollars was raised on US exchanges. That
Speaker 3: was book four times the amount that was raised in
Speaker 3: twenty twenty four. So can we still teck in to
Speaker 3: basically a higher valuation point inn s and P five
Speaker 3: hundred and nearer a record high. People want to see
Speaker 3: these companies come, but we've got to work out what
Speaker 3: valuations they come at. This is a company that raised
Speaker 3: in about fifteen billion in twenty twenty one. Twenty twenty
Speaker 3: one was a very nice year for valuations and a
Speaker 3: lot of companies are having to swallow some think of
Speaker 3: Figma in many ways it managed to have a blockbus
Speaker 3: for IPO, but still it was always being marked.
Speaker 4: Into previous run versus public right.
Speaker 3: That does it for this edition of Bloomberg Tech Tomorrow,
Speaker 3: We've got so many other guests coming on ces. Let's
Speaker 3: talk about them. Kind adventures. Joby Aviation is going to
Speaker 3: be joining us, and Jacob Helberg of course, a little
Speaker 3: bit of government perspective.
Speaker 4: It's fun to be in Vegas. Recap.
Speaker 2: There is a lot to recap. Do it on the pod.
Speaker 2: You know where to find it. We keep going. This
Speaker 2: is Bloomberg Tech