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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning.

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Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 1: stories we're following today.

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Speaker 2: Karin, we begin with new developments in the war in Ukraine.

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Speaker 2: Russia reportedly fired an intercontinental ballistic missile last night as

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Speaker 2: part of a barrage targeting the central Ukrainian city of

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Speaker 2: de Nepro. That's according to Ukraine's Air Force. Bloomberg opinion

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Speaker 2: columnist Mark Champion says, the use of ICBMs would be

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Speaker 2: a significant development.

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Speaker 3: They are understanding kinds of missiles that would be used

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Speaker 3: in a nuclear strike. It's bat left terrifying that that

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Speaker 3: sounds in terms of the nuclear issue, just because you

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Speaker 3: can be certain that the Russians will have told the

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Speaker 3: Americans in advance that this would carry a conventional beload.

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Speaker 2: Bloomberg Opinion columnist Mark Champion says Ukraine's air force says

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Speaker 2: it shot down six of seven cruise missiles fired during

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Speaker 2: the attack, and Russia says it intercepted two UK made

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Speaker 2: storm Shadow missiles, along with six high Mars rockets and

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Speaker 2: sixty seven drones fired by Ukraine.

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Speaker 1: And Nathan, President Biden is trying to lock in even

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Speaker 1: more support for Ukraine before he leaves office. The White

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Speaker 1: House says it plans to cancel four point sixty five

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Speaker 1: billion dollars in Ukraine's debt. That's about half of a

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Speaker 1: nine billion dollar loan that Congress approved as part of

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Speaker 1: a sixty billion dollars supplemental package for Ukraine. Republican Senator

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Speaker 1: Ran Paul posted on x that he'll force a vote

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Speaker 1: on the Senate Florida stop this, but both houses of

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Speaker 1: Congress would need to approve Paul's resolution, and President Biden

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Speaker 1: could also veto it.

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Speaker 2: Turning into markets now, Karen, we're watching shares of Nvidia

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Speaker 2: this morning. They're down more than three percent. The world's

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Speaker 2: most valuable company delivered a revenue forecast that failed to

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Speaker 2: meet Wall Street's highest expectations. In Vidia's predicting fourth quarter

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Speaker 2: sales of about thirty seven and a half billion dollars.

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Speaker 2: That's slightly above the average analyst estimate, but it is

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Speaker 2: below the most optimistic forecasts. In Vidia CEO Jensen Wang

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Speaker 2: says demand for its newest Blackwell chips still exceeds supply.

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Speaker 4: Blackwell production is in full steam. In fact, we will

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Speaker 4: deliver this quarter more blackwells than we have previously estimated,

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Speaker 4: and so the supply chain team is doing an incredible

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Speaker 4: job working with our supply partners to increase Blackwell.

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Speaker 2: And Video CEO Jensen Wang says sales are poised to

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Speaker 2: double for a second year in a row. Before this

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Speaker 2: morning's losses, and Video shares were up almost two hundred

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Speaker 2: percent this year, and if.

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Speaker 1: Then the powerful rally in bitcoin continues this morning, as

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Speaker 1: the digital currency closes in on one hundred one thousand dollars,

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Speaker 1: it's being fueled over optimism that president like Donald Trump

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Speaker 1: support for crypto and also over potentially friendly regulations. The

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Speaker 1: crypto market as a whole has gained approximately nine hundred

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Speaker 1: billion dollars since Trump's election win, and checking bitcoin right now,

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Speaker 1: it is up three and a quarter percent. It's at

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Speaker 1: ninety seven five hundred dollars.

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Speaker 2: Turning to the Trump transition now, Karen Republicans on the

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Speaker 2: House US Ethics Committee have voted against releasing a report

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Speaker 2: on their long running investigation into President elect Trump's nominee

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Speaker 2: for Attorney General, former Congressman Matt Gates. But the tug

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Speaker 2: of war over this report is not over yet, as

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Speaker 2: we hear from Bloomberg Sammy Morris in Washington.

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Speaker 5: Democrats Susan Wild of Pennsylvania says the ethics panel, which

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Speaker 5: is evenly split between the two parties, voted at a

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Speaker 5: two hour long closed door meeting and no Republicans joined

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Speaker 5: Democrats who want to release the report. The panel is

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Speaker 5: expected to meet and vote again in December. Meanwhile, Gates

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Speaker 5: met four hours behind closed doors with Republican senators who

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Speaker 5: have questions about the sexual misconduct and other allegations against him.

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Speaker 5: At least one Republican Senator, Lindsey Graham, decried the quote

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Speaker 5: lynch mob forming against Gates in Washington, Amy Morris, Bloomberg Radio, All.

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Speaker 1: Right, Amy, thank you. While President elect Trump is filling

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Speaker 1: out more of his diplomatic ranks. He's named former Congressman

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Speaker 1: Pete Hoakstra US ambassador to Canada. Holkstro was Ambassador to

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Speaker 1: the Netherlands in the first Trump administration and chairs the

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Speaker 1: Republican Party in the swing state of Michigan. And Trump

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Speaker 1: has tapped Matt Whittaker to be his ambassador to NATO.

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Speaker 1: Whitaker was Trump's acting Attorney General after he forced out

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Speaker 1: his first AG, Jeff Sessions.

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Speaker 2: In staying with the transition, Karen Elon Musk and Vivik

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Speaker 2: Ramaswami say they want to eliminate work from home policies

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Speaker 2: for the federal government. We get more on that from

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Speaker 2: Bloomberg's Doug Prisner.

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Speaker 6: Musk and Ramaswami are leading the new Department of Government Efficiency.

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Speaker 6: In a Wall Street Journal op ed, the pair wrote

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Speaker 6: requiring federal employees to come to the office five days

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Speaker 6: a week would result in a wave of voluntary terminations

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Speaker 6: that they welcome. And they said if federal employees don't

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Speaker 6: want to show up, American taxpayers shouldn't pay them for

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Speaker 6: the COVID era privilege of staying home. But eliminating those

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Speaker 6: policies could spark clashes between the new administration and government

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Speaker 6: employee union. On the other hand, a full return to

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Speaker 6: office could benefit the local Washington, DC economy In New York.

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Speaker 6: I'm Doug Prisoner Bloomberg Radio.

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Speaker 1: All right, dog, thank you well. In legal news this morning,

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Speaker 1: US prosecutors have charged Gwantam and Donnie with helping drive

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Speaker 1: a two hundred and fifty million dollar bribery scheme. It's

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Speaker 1: a stunning blow to India's most powerful businessman and close

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Speaker 1: ally a prime minister in Aarndramodi. Federal prosecutors say the

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Speaker 1: tycoon and other defendants promised to pay more than two

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Speaker 1: hundred fifty million dollars in bribes to Indian government officials

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Speaker 1: to win solar energy contracts worth billions of dollars. The

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Speaker 1: Adannie Group is denying the allegations. A Donni Group stocks

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Speaker 1: and bonds plunged on the news while being nearly thirty

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Speaker 1: billion dollars off the conglomerates market value and Karin.

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Speaker 2: The founder of our Kegos Capital Management, Bill Wong, has

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Speaker 2: been sentenced to eighteen years in prison. Back in July,

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Speaker 2: a jury found Wang guilty of misleading banks into providing

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Speaker 2: his family office with billions of dollars in trading capacity Bloomberg.

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Speaker 2: Shaquille Amari says the former financier express regrets. During the

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Speaker 2: proceedings in the New York courtroom, Wang.

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Speaker 7: Was remorseful, telling the judge he felt deep paid for

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Speaker 7: what happened to our Kagos Now prosecutors they wanted a

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Speaker 7: twenty one year sentence because they said that Wang was

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Speaker 7: a repeat offender in all of this because back in

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Speaker 7: twenty twelve he pled guilty to inside a trading with

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Speaker 7: another company, Tiger Capital Now. On the other hand, his defense,

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Speaker 7: they wanted no jail time, but the judge says that

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Speaker 7: was utterly ridiculous.

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Speaker 2: Bloomberg Shaquille Amari there outside the courtroom. Our Kagos fell

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Speaker 2: into a spiral after its March twenty twenty one selloff

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Speaker 2: in ViacomCBS shares prompted billions of dollars in margin calls,

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Speaker 2: and that led to the collapse of Wang's thirty six

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Speaker 2: billion dollar family office and the fallout included the demise

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Speaker 2: of Credit Sueese, as well as significant losses for Morgan Stanley, Ubs,

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Speaker 2: Numural Holdings, and other banks.

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Speaker 1: Well Nathan. The Justice Department and a group of states

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Speaker 1: are proposing major changes to Alphabet's Google. They include a

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Speaker 1: for sale of the company's Chrome web browser in the

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Speaker 1: wake of a Landmark ruling that the tank and I

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Speaker 1: legally monopolized online search and a court filing yesterday, anti

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Speaker 1: trust enforcers said they would also prefer a divestiture of

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Speaker 1: the Android smartphone operating system.

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Speaker 2: Google opposed is the proposal.

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Speaker 1: Arguing it with harm Americans privacy and security stymy its

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Speaker 1: Ai investments, and hurt other companies that rely on its revenue.

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Speaker 1: And it's time now for look at some of the

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Speaker 1: other stories making news in New York and around the world.

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Speaker 1: And for that we're joined by Bloomberg's John Tucker, John,

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Speaker 1: Good Morning, Good Morning, Karen.

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Speaker 8: The FBI arrested a man who's been charged with planning

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Speaker 8: an attack on the New York Stock Exchange. More from

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Speaker 8: Bloomberg's Jeff Bellinger.

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Speaker 9: The FBI sas thirty year old Harun Abdul Malik Yanier

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Speaker 9: of Coral Springs, Florida, wanted to reboot the US government

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Speaker 9: by planting a bomb at the New York Stock Exchange

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Speaker 9: and detonating it with the remote controlled device. Authorities found

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Speaker 9: bomb making sketches, along with timers and other electronics that

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Speaker 9: could be used for building explosive devices. They say in

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Speaker 9: air all also searched online for things related to bomb making.

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Speaker 9: The suspect allegedly told under cover FBI agents that he

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Speaker 9: wanted to detonate the bomb the week before Thanksgiving. Jeff

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Speaker 9: Bellinger Bloomberg Radio.

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Speaker 8: A warning if you have an ipheld, iPad or Mac,

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Speaker 8: there is a security flaw that may have been actively exploited.

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Speaker 8: Apple's just released what it calls a zero day patch.

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Speaker 8: The flaw was uncovered by Google's threat analysis group, and

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Speaker 8: the top US consumer watchdog will now supervise Apple and

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Speaker 8: other major technology firms that offer digital wallets and payment

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Speaker 8: apps the Consumer Financial Protection Bureau when I'll treat those

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Speaker 8: companies more like banks as long as they handled more

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Speaker 8: than fifty million transactions a year. And Pamela Hayden, the

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Speaker 8: voice of Millhouse, is retiring from the Simpsons after thirty

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Speaker 8: five years.

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Speaker 2: Everything's coming up Milhouse.

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Speaker 8: The seventy year old actress's final episode will air this Sunday.

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Speaker 8: The show's creator named the blue haired boy with Glasses

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Speaker 8: Millhouse as a humor not to President Richard Milhouse Nixon.

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Speaker 8: Global News twenty four hours Day and whatever you want

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Speaker 8: with Bloomberg News.

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Speaker 1: Now.

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Speaker 8: I'm John Tucker and this is Bloomberg Karen.

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Speaker 1: I don't know if you can do that voice, can you?

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Speaker 4: John?

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Speaker 2: Maybe I'm not even gonna try.

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Speaker 1: All right, all right, well, John Tucker, thank you time

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Speaker 1: now for the Bloomberg Sports up date, brought to you

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Speaker 1: by Tri State Odie. Here's John stash Hour.

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Speaker 10: John.

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Speaker 2: Good morning, Good.

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Speaker 10: Morning, Karen Nicks.

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Speaker 11: After a four game homestand now have a five game

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Speaker 11: road trip first stop Phoenix.

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Speaker 10: The Sons without Kevin Durant.

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Speaker 11: The next one easily scored forty four points in the

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Speaker 11: first quarter shot fifty eight percent won one thirty eight

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Speaker 11: to one twenty two. Jalen Bruns and then Karl Anthony

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Speaker 11: Towns have become quite the one two combination. They teamed

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Speaker 11: up for seventy points in Stores. The Yukon women won

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Speaker 11: by forty four over Fairleigh Dickinson. For the Huskies, legendary

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Speaker 11: coach Gino Oriama career victory number one thousand, two hundred

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Speaker 11: and seventeen. Moving in past, the recently retired Stanford coach

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Speaker 11: Karav van Derveer most coaching wins in college basket well

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Speaker 11: history men or women, Cy Young winners the Braves, Chris Sale,

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Speaker 11: the Tiger's Trek Scooball. The two South Paws had almost

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Speaker 11: exactly the same season. Sale in Atlanta was eighteen and

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Speaker 11: three with a two point three eight e Ra Schoobl

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Speaker 11: in Detroit went eighteen and four with a two point

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Speaker 11: three nine.

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Speaker 10: Giants coach Brian Dable.

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Speaker 11: On Monday announced he was making Tommy DeVito his starting quarterback.

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Speaker 11: He talked about the second year QB giving the team

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Speaker 11: a spark.

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Speaker 10: Davido is confident that will happen.

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Speaker 12: I think I bring a certain confidence energy, you know, sag,

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Speaker 12: whatever you call it, to the team, to people around me.

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Speaker 12: I think I've kind of always had that growing up,

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Speaker 12: like from when I was even younger. So I kind

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Speaker 12: of just bring that energy, and it's all about really

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Speaker 12: enjoying it for me. I kind of said that last year.

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Speaker 12: You know, it's like it is a children's game, obviously

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Speaker 12: a lot more money and a lot more stakes into it.

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Speaker 11: Divido and The Giant Sunday host Tampa Bay the game

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Speaker 11: tonight eight and two Pittsburgh at two and eight Cleveland.

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Speaker 11: John Stashewer of Bloomberg Sports characterm Coast to Coast on Bloomberg

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Speaker 11: Radio nationwide on Sirius XM, and around the.

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Speaker 6: World on Bloomberg dot Com and the Bloomberg Business app.

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Speaker 2: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. On

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Speaker 2: a morning where Nvidia's earnings remain a major focus for investors.

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Speaker 2: The AI Chip Powerhouse gave a revenue forecast that fell

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Speaker 2: short of Wall Street's biggest expectations, but CEO Jensen Wong

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Speaker 2: says the next generation in Vidia Blackwell chips are on

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Speaker 2: track to ship with very strong demand.

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Speaker 4: It is the case that demand exceeds our supply, and

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Speaker 4: that's expected as we're in the beginnings of this generativity

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Speaker 4: I revolution as we all know.

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Speaker 2: In Nvidia's CEO Jensen Wong spoke on the company conference

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Speaker 2: call last night for more on the results and the

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Speaker 2: outlook for AI going forward. We are joined by Dan Ives,

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Speaker 2: global head of Technology Research at web Bush Securities. Dan,

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Speaker 2: great to have you back with us this morning. So

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Speaker 2: in Nvidia didn't meet Wall Street's biggest expectations, did it

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Speaker 2: meet yours?

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Speaker 10: Good morning?

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Speaker 13: Hello, Look, this is just like last quarter. I mean,

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Speaker 13: the bears try to poke at it, and look what

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Speaker 13: happened to the stock sentence up seventeen percent. I believe

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Speaker 13: this was just ultimately a press release. They should frame

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Speaker 13: it and put it in the love. It's the start

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Speaker 13: of the trick. What I believe is to track the

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Speaker 13: four trillion and beyond super bullish. I believe there's a

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Speaker 13: stock that's probably up the end of the day.

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Speaker 2: Nough, we did hear just a moment ago, Jensen Wong

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Speaker 2: saying that supply is having trouble keeping up with demand.

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Speaker 2: Is that going to continue to be an issue going forward.

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Speaker 2: What can it do to get that back into balance.

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Speaker 13: Look to put some numbers, I mean Street thought this

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Speaker 13: would be two to three billion a quarter in terms

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Speaker 13: of black Bell. It's probably gonna because of eight to

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Speaker 13: ten billion demand the supply of fifteen to one. So

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Speaker 13: it's going to take time. From a supply can train perspective,

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Speaker 13: that's a high class problem and into a street continues

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Speaker 13: to under the demand. And that's why Look is this

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Speaker 13: all plays out?

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Speaker 14: I mean you look what videos and.

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Speaker 13: We're talking unprecedented in terms of AI industrial.

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Speaker 14: Revolution, and they're reading they are the only.

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Speaker 13: Game in town, led by godfather of AI, Jensen and Video.

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Speaker 2: Now, the demand in terms of the data revenue or

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Speaker 2: the data center piece still seems like it's concentrated in

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Speaker 2: those big cloud providers, you know, Amazon, Apple, does in

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Speaker 2: Nvidia need to do more to broaden out the demand

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Speaker 2: that it's seeing for data centers particularly.

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Speaker 13: Yeah, right now, at the front of the line, front

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Speaker 13: of the velvet roops, it's big tech, right they have

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Speaker 13: a front seat, But behind them it's sovereigns and its

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Speaker 13: other called global two thousands that are now going to

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Speaker 13: be waiting in line to go down the AI route.

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Speaker 13: Only four percent of companies have even gone down it.

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Speaker 13: You look at Big Tech, that's three hundred billion a

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Speaker 13: loan of AI catbacks next year. So we're talking trillions

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Speaker 13: of AI capbacks. And guess what, there's only one game

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Speaker 13: in town, DYNVIDI in terms of the chips. But this

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Speaker 13: also shows a broader tech second, third, fourth derivative. Get

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Speaker 13: the popcorn out. It's still nine thirty ten pm in

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Speaker 13: this AI party that goes to four am.

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Speaker 2: Did Jensen Wong do enough to allay some of the

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Speaker 2: concerns that we heard going into this report about overheating

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Speaker 2: in the black Weell chips and not contributing to the

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Speaker 2: production delays that we've seen.

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Speaker 13: Oh yeah, I mean he called it out right away,

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Speaker 13: and I just need we've talked about the four When

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Speaker 13: you're at the top of the mountain, the bears are

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Speaker 13: going to come out of hibernation mood, you know that

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Speaker 13: have missed this historic run. They'll try to pull holes.

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Speaker 13: There's no poking holes here. I mean, we're talking about

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Speaker 13: production that's ramping a head of street expectations. And that's

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Speaker 13: why any weakness today, it's just what I believe is

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Speaker 13: an opportunity as this is a four trillion and potentially

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Speaker 13: in the next few years five trillion dollar market.

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Speaker 2: At the same time, up to now, I mean, we've

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Speaker 2: seen such dramatic growth for Invidia. I mean it's it's

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Speaker 2: really been like a rocket ship for this company. Can

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Speaker 2: it continue to maintain that kind of momentum or do

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Speaker 2: investors need to start preparing for a little bit more

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Speaker 2: of a leveling off in terms of the growth trajectory.

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Speaker 14: Look, that will be a question, But this is Mahomes

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Speaker 14: in high school Moan.

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Speaker 13: Soto when he's fourteen, right, I mean in terms of

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Speaker 13: where in Vidio is and in terms of as is

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Speaker 13: all plays out in terms of AI revolution, it's in

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Speaker 13: tatiable demand and there's no other competitor out there. And

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Speaker 13: that's why what you really it's not even just a

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Speaker 13: mountain video what it shows about big tech. This is real.

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Speaker 13: This is the most pronounced tech spending wave that we

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Speaker 13: probably have ever seen, and and it just speaks to

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Speaker 13: our view NASDAK twenty thousand and events in the next

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Speaker 13: few year's NASDAK twenty five thousand conversations happened being led

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Speaker 13: by AI.

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