Speaker 1: Bloomberg Audio Studios, podcasts, radio news. Bloomberg Tech is alive
Speaker 1: from coast to coast with Caroline Hide in New York
Speaker 1: and Eva Though in San Francisco.
Speaker 2: This is Bloomberg Tech coming up.
Speaker 3: Elon Musk's AI startup Xai is rolling out Grock four
Speaker 3: and it will be coming to Tesla vehicles quote very soon.
Speaker 3: Plus Graylock partner and LinkedIn co founder Reid Hoffman wis
Speaker 3: in on the AI talent wars.
Speaker 2: Why hundreds of millions for salaries is not crazy?
Speaker 3: And Varda's Space raises one hundred and eighty seven million
Speaker 3: dollars in a series funding to produce medicines in low
Speaker 3: Earth orbit. But first we check in on these markets
Speaker 3: that just pull back from those near term highs.
Speaker 2: Again, we're actually bouncing off of our lows.
Speaker 3: We're seeing the Nasdaq one only four tenths percent had
Speaker 3: sold off.
Speaker 4: More.
Speaker 2: We've got a big bond cell today.
Speaker 3: That's a test of appetite on the long end of
Speaker 3: the curve, and that a lot has been dictating what's
Speaker 3: happening in the equity markets. We take a pause amid
Speaker 3: the ongoing barrage of news when it comes to Taris
Speaker 3: Brazil the latest in the line of fire. But we're
Speaker 3: looking at cryptos still catching a bid. So because this
Speaker 3: were one hundred and eleven thousand, we exceeded one hundred
Speaker 3: and twelve thousand yesterday. So this asset of choice at
Speaker 3: the moment is up more than twenty percent year to date.
Speaker 3: Move on, have a look at some of the individual
Speaker 3: moves that dictate the.
Speaker 2: Move of travel.
Speaker 3: And then as that one hundred in videos off by
Speaker 3: three ten percent, coming off of that all time high
Speaker 3: that we on an intry day basis hit yesterday of
Speaker 3: four trillion dollars, we pulled down.
Speaker 2: So therefore than aw's that one hundred poorly.
Speaker 3: Lower TSMC, though actually the ADRs are in the red.
Speaker 3: But more broadly, Alyss is saying that the latest June
Speaker 3: numbers on sales will then being hit more by FX woes.
Speaker 3: This is a strong set of numbers coming from the
Speaker 3: AI demand and Apple and in video demand for the
Speaker 3: chip making juggernaut that is TSMC, and I'm looking at
Speaker 3: Tesla up three percent.
Speaker 2: In excess of this is as we get.
Speaker 3: Not only hints fromine on Mask on his platform X
Speaker 3: that we'll see Robotaxi coming out in California in San
Speaker 3: Francisco relatively soon. But also Grock four, the announcement of
Speaker 3: the chatbot of course that was showed off yesterday, also.
Speaker 2: Coming at Tesla in the near term.
Speaker 3: Let's dig into that with Jackie Devolas and Jackie this
Speaker 3: really is moving to stop people anticipating what grop for
Speaker 3: in the chat bolt could do when you're in the car.
Speaker 5: That's exactly right, And because with Grock four, Musk actually
Speaker 5: presented these two new models kind of as a breakdown
Speaker 5: of the release. It had grock four and grock four Heavy,
Speaker 5: and the ladder is really the company's this multi agent
Speaker 5: version that offers this advanced performance. Musk said that GROK
Speaker 5: Heavy could actually deploy multiple agents to work on a
Speaker 5: problem and that they can all compare the work almost
Speaker 5: like a study group. And it's said that Grock four
Speaker 5: actually shows frontier level performance on several benchmarks. So this
Speaker 5: is a really exciting moment for the company, especially when
Speaker 5: you think about just kind of what a tumultuous week
Speaker 5: it has.
Speaker 2: Been for x and XAI. But as for Tesla drivers.
Speaker 5: You know, this has been kind of something that's been
Speaker 5: teased and really anticipated just given how intense these AI
Speaker 5: wars are coming, and the more applications we can find
Speaker 5: for them, companies are really eager to find ways to
Speaker 5: monetize that.
Speaker 3: Precisely, many have seen the intertwining of x and XAI,
Speaker 3: and then at some point ad Or Musk even saying
Speaker 3: maybe Tesla should invest in Xai more broadly because of
Speaker 3: the dividends that will pay for the company. Remind us
Speaker 3: of the tumultuous nature of this week, though, because we
Speaker 3: have glock Falls unveiling hot on the heels of some
Speaker 3: pretty difficult content that it was spewing out across the platform.
Speaker 5: That's right, and you know it was related to some
Speaker 5: replies to user posts that those replies had anti Semitic tropes,
Speaker 5: it was glorifying Adolf Hitler in some others, and XAI
Speaker 5: the company was forced to remove these inappropriate posts, and
Speaker 5: the company also acknowledged that, you know, they should n't
Speaker 5: have been up there.
Speaker 2: But Musk himself kind of.
Speaker 5: Almost avoided explicitly referring to them, but just said that quote,
Speaker 5: we need to make sure.
Speaker 2: That AI is good AI. And he he said that
Speaker 2: on Wednesday night, so.
Speaker 5: Of course, probably referring to some of those posts in
Speaker 5: advance of this release because of course, as he's about
Speaker 5: to release the latest and greatest model, the top question
Speaker 5: for users broadly is how do we know that this
Speaker 5: isn't just going to spew similar content? And then of
Speaker 5: course Linda Yakarino stepping down as CEO of x so
Speaker 5: there's a lot going on at x and XAI. But
Speaker 5: you know this, this latest news that Tesla might have
Speaker 5: this latest model is pretty exciting for people out there.
Speaker 3: And helps it inchback on some of the losses experience
Speaker 3: earlier in the week because of that ongoing feud between
Speaker 3: Elo Musk and President Trump. A caudivolous with all the
Speaker 3: laatest on groc four. We so appreciate it. Meanwhile, China's
Speaker 3: Huawei is trying to export its AI chips to the
Speaker 3: Middle East and Southeast Asia to establish a foothold in
Speaker 3: markets dominated by Nvidia's despite ongoing manufacturing challenges for Huawei.
Speaker 2: It's all according to sources our own ed Ludlow is
Speaker 2: standing by in Sun Valley and I.
Speaker 3: Want to dig into this with un because it's just
Speaker 3: a small quantity of the chips we understand thus far
Speaker 3: tentatively going to these places.
Speaker 4: Yeah, low volumes, targeting Saudi Arabia and UAE in the
Speaker 4: goal for then Malaysia, in Thailand in Southeast Asia. But
Speaker 4: what our reporting tells us, and what our sources are
Speaker 4: informing us of, is that Huawei wants to give access
Speaker 4: to nine ten B prior older generation AI Accelerator card
Speaker 4: so that customers in those regions can experience the technology
Speaker 4: and then maybe in the long run look more deeply
Speaker 4: at what Huawei has to offer. Completely right, that it's
Speaker 4: low volumes in the thousands is what we're reporting, and
Speaker 4: Huawei is supply constrained, it has a manufacturing cap and
Speaker 4: what it's able to produce. But of course this is
Speaker 4: politically difficult as well. It looks like this is Huawei
Speaker 4: going out to the market and that there isn't actually
Speaker 4: that much reciprocal interest.
Speaker 6: Saudi Arabia, based.
Speaker 4: On our reporting, seems the most likely to look at
Speaker 4: those prior generationships. Saudi has a long standing relationship with Huawei,
Speaker 4: but has also said that if America turned around and
Speaker 4: was like, you're not doing business there, then Saudi cooperates.
Speaker 4: So it's a dynamic situation. But Huawei flexing its muscles
Speaker 4: a little, and.
Speaker 3: Some dynamic conversations you're having over there in some valley.
Speaker 3: How much has everyone been focused in on China US relations?
Speaker 3: And indeed the big four trillion number hit by Nvidio yesterday.
Speaker 4: Yeah, I mean, geopolitics and trade are common conversations here.
Speaker 6: You expect that, right.
Speaker 4: You have some of the CEOs of the world's largest
Speaker 4: technology companies here who do a lot of business across borders.
Speaker 4: Scott Besson, the Treasury Secretary, made a presentation there was
Speaker 4: a model rated Q and A late yesterday morning where
Speaker 4: he took questions from the audience. Some of those questions
Speaker 4: related to tariffs and trade.
Speaker 6: He also kind of.
Speaker 4: Gave his kind of longer term view on the global
Speaker 4: economy and on in video. Four trillion. Sure, you know,
Speaker 4: it's kind of like a market moment in history. What's
Speaker 4: so interesting? And it was part of the conversation that
Speaker 4: I had with both Reid Hoffman and Steve Pauuka last night,
Speaker 4: which I think we'll play a bit of later in
Speaker 4: the show. Is four trillion just the beginning? And they
Speaker 4: would argue, yes, it is, because it even though the
Speaker 4: cost of inference is coming down, it's in video that
Speaker 4: still has a hold on that and that market and
Speaker 4: there is more room to run because you have frontier
Speaker 4: models like you just discussed with Jackie Davilos on Grock four.
Speaker 4: But there are other vertical models, very specific use case
Speaker 4: models where we're just getting started in the development process.
Speaker 6: So I found that really interesting.
Speaker 3: Ed Ladlow will be going back to you and some
Speaker 3: of your conversations at the Allen and Co.
Speaker 2: Event. Thanks so much.
Speaker 3: Now, look, let's stick with tech chips and in video
Speaker 3: being the winning formula with epek Oskodeshka of Swiss quote
Speaker 3: and it feels as though you probably are going to
Speaker 3: echo what Steve paal Yuka, what read Hoffman, what Ed's
Speaker 3: just been saying that we're just at the beginning with
Speaker 3: this four trillion number.
Speaker 7: I mean, definitely, the numbers are not surperviising right now,
Speaker 7: and when you're looking at the valuation basis, Nvidia is
Speaker 7: not necessarily much more expensive today than.
Speaker 2: It was a year ago.
Speaker 7: The pe ratio is totally acceptable, is around fifty two,
Speaker 7: but with the upcoming earnings, we think that's going to
Speaker 7: be pulled back to a low forties and four trillion number.
Speaker 7: It incorporates not only what MVDA achieved so far. Obviously, yes,
Speaker 7: but also what it will be achieving and their proactively
Speaker 7: searching clients and expanding their client book to other continents
Speaker 7: and to other sectors like robotics is very interesting. We
Speaker 7: actually think that robotics is going to be the next
Speaker 7: big milestone because giving AI hands, feet, and a body
Speaker 7: is just going to be amazing. We're just at the
Speaker 7: beginning of this AI revolution is just so exciting.
Speaker 2: And other companies benefit too.
Speaker 3: We think of TSMC, which is the chip maker of
Speaker 3: choice Foreign Video their numbers once again according to the
Speaker 3: Bloomberg Mathematics it is about thirty nine percent increase in
Speaker 3: revenue in the previous quarter just gone epec how much
Speaker 3: we likely to see other chip makers really fueled higher.
Speaker 2: AMD doing well today on the back of it, well,
Speaker 2: we have been.
Speaker 7: Quite positive for AMD hasn't done perfectly well over the
Speaker 7: past few months. Now it is back to the bullish consolidation.
Speaker 7: So now we think that companies AMD alternatis are cheaper versions.
Speaker 7: Will be quite interesting when the AI adoption is going
Speaker 7: to go wider because companies, some companies will be looking
Speaker 7: for these cheaper alternatives. This thing said, MVD is not
Speaker 7: only offering chips, they're offering ecosystem, and this is where
Speaker 7: MVDA is still beating this competition. This is why probably
Speaker 7: we see the growth and an a in AMD and
Speaker 7: investor interest in AMD remain quite though, but we think
Speaker 7: that AMD's time will come.
Speaker 3: Both AMD and Nvidia still want to have a presence
Speaker 3: in China as an end market, and actually there's reporting
Speaker 3: that Jenson Wang is going out to China very soon
Speaker 3: because he wants to be making yet another specific chip
Speaker 3: that is allowed to be exported. How much is that
Speaker 3: a headwind for you or indeed a long term tailwind
Speaker 3: whether or not they will have access to this market.
Speaker 7: Well, China is a very sensitive as a politically and
Speaker 7: a geopolitical sensitive market, so when Nvidia goes into that market,
Speaker 7: we know that the risk on that specific.
Speaker 2: Segment is higher.
Speaker 7: But the company's efforts in expanding beyond China and the
Speaker 7: US markets like Europe for example, and Middle East, which
Speaker 7: do have deep pockets and very big potential, actually delutes
Speaker 7: the risk of while not doing business in China, we
Speaker 7: think that China is still worth trying. As Jensen Huang says,
Speaker 7: it's not necessarily a good idea to completely ben chips
Speaker 7: from China because it will only push them to do better.
Speaker 7: So I think that China is.
Speaker 2: Still interesting market. But if the risk could.
Speaker 7: Be diluted like MVDA is doing today, then it's going
Speaker 7: to be only a tailwind rather than a headwind.
Speaker 2: Just putting it in the context, and your note does
Speaker 2: this so well for us Epek, I love reading them.
Speaker 3: That basically in video is up one thousand percent since
Speaker 3: CHATCHIBT came to all of US AI general to AI
Speaker 3: was put in yours in my hands.
Speaker 2: How much your client's.
Speaker 3: Bulking at the fact that we have seen this run.
Speaker 3: I know you talk about the pes actually big, relatively appetizing.
Speaker 3: We are at a technically overbought level, though if you're
Speaker 3: looking at the RSI, well yes.
Speaker 7: In the short one, we are at overbought markets conditions,
Speaker 7: meaning that NVDA stocks may have been built too quickly
Speaker 7: in a too short period of time. But what investors
Speaker 7: look with Nvidia is not necessarily the short term dynamics
Speaker 7: and short term indicators. They actually do have this very
Speaker 7: long term perspective on what Nvidia will be involved in
Speaker 7: in the next decade. Nvidia is a company that is
Speaker 7: going to be at the heart of AI and robotics,
Speaker 7: for the next decade.
Speaker 2: So if the price is over.
Speaker 7: Today, it is not necessarily a major significant downside correction.
Speaker 2: Downside correction potential for the long term.
Speaker 7: Investors are really looking at what Nvidia will mean in two, three, five,
Speaker 7: ten years from now, and when you look at that perspective,
Speaker 7: the company still has so much to offer.
Speaker 3: We've talked about Asian companies TSMC, for example, you're sat
Speaker 3: in Switzerland. We've got a European tech show recently launched
Speaker 3: as well. How much are you thinking about the European
Speaker 3: opportunity here? Are there any names other than the ASML
Speaker 3: that have been coming to light when it comes to.
Speaker 2: AI, Well, we do have a couple of names.
Speaker 7: We obviously don't have names like you do in the US,
Speaker 7: like Facebook, Meta, Amazon. So what's going to be interesting
Speaker 7: in Europe in terms of AI, I think is going
Speaker 7: to be more specific models, sectors specific models, business specific models,
Speaker 7: so that they can find the data that they need
Speaker 7: in order to train these models. We do not have
Speaker 7: these huge AI labs, these huge platforms that could help
Speaker 7: building these models. So it's going to be a very
Speaker 7: different play in Europe, and European companies will be going
Speaker 7: case by case and they will be building smaller, more
Speaker 7: specific models in order to benefit from AI's AI benefits.
Speaker 7: So it's going to be very different landscape of AI
Speaker 7: when you're looking at Europe, rather than what we see
Speaker 7: in the.
Speaker 2: US today, the world wide big.
Speaker 7: Companies reaching out to everyone. I think it's going to
Speaker 7: be much more B to B business based.
Speaker 3: Ibek PSKODESHKAA great to have some time with you a
Speaker 3: Swiss code.
Speaker 2: We appreciate it.
Speaker 3: Like coming up Prime Day, it enters its third day
Speaker 3: of deals. People want anything, yet it'll take a look
Speaker 3: at whether it's managing to entice shoppers.
Speaker 2: This is Blue Bag Tech.
Speaker 8: We're really pleased by the engagement that we're getting from
Speaker 8: our customers and our members. Not only is the event
Speaker 8: twice as long, so four days, as you mentioned, but
Speaker 8: we're also offering more than double the number of deals
Speaker 8: that are fifty percent off or more. That's striving engagement
Speaker 8: across the millions of deals we have.
Speaker 6: In thirty five categories.
Speaker 8: So we're really pleased.
Speaker 6: But it's very early.
Speaker 3: Of course, Amazon Prime Vice President Jamil Ghani there weighing
Speaker 3: in on the early numbers trickling in yesterday. Let's get
Speaker 3: an update now, with Bluemberg Spenser Sopa on day three
Speaker 3: of Prime Day. How hard is it to really discern
Speaker 3: whether this is going well or not?
Speaker 2: Spencer, Yes, it's very tricky.
Speaker 9: You know, you're comparing a two day event last year
Speaker 9: last year to a four day event this year. Amazon's
Speaker 9: experiment is like, hey, what if we kind of slow
Speaker 9: the sales cadence down a little bit but spread it
Speaker 9: over a longer period of days, will that be.
Speaker 6: Better for us?
Speaker 9: And that's the experiment, So that's where these next two
Speaker 9: days are really going to be critical. Can Amazon kind
Speaker 9: of sustain this kind of more muted momentum over four
Speaker 9: days or do people just trail off? So that's really
Speaker 9: what we're what we're looking to see on days three
Speaker 9: and four.
Speaker 3: I mean talking to momentum. Momentum Commerce was an advisor
Speaker 3: that you went to on a data analysis service that
Speaker 3: seems to be showing that the numbers were pretty poor
Speaker 3: at the start of things.
Speaker 9: Yeah, and again let's emphasize that was the first day
Speaker 9: of what is now a four day event as opposed
Speaker 9: to the first day last year when it was a
Speaker 9: two day event. So when you prolong an event, you
Speaker 9: lose that sense of urgency. People aren't necessarily shopping, people
Speaker 9: aren't necessarily compelled.
Speaker 6: To act immediately.
Speaker 9: And you know when you had the Amazon executive on yesterday,
Speaker 9: the key word there was engagement.
Speaker 6: You know, they're pleased with engagement.
Speaker 9: That means people are kind of poking around, but they're
Speaker 9: not really buying, so everything kind of tracks. It's just
Speaker 9: a question of you know, are people going to keep
Speaker 9: buying through days three and four? And if they do,
Speaker 9: Momentum said, you know, the four day event should yield
Speaker 9: a lift compared to the two day event last year.
Speaker 6: But that's the big question.
Speaker 9: We'll see if Amazon's experiment is working today and tomorrow.
Speaker 2: Big bet.
Speaker 3: Spenser, Sopa, you stay on it, Thank you so much.
Speaker 3: Now coming up, Gecko Robotics says twenty twenty five is
Speaker 3: the Year of the robot. We speak with a CEO
Speaker 3: live from some Vallely, Idaho. Next this is Bluemberg Tech.
Speaker 3: Let's get back out to sun Valley, Idaho, where Ed
Speaker 3: Ludlow is standing by with.
Speaker 2: A special guest.
Speaker 10: Ed.
Speaker 4: Yeah, let's talk about robotics and we're not talking humanoid rebulics.
Speaker 4: Actually really interesting. Gecko Robotics and his co founder CEO
Speaker 4: Jake Lucerian, There's a lot of attention on you. And
Speaker 4: one of the reasons why is this super interesting business model.
Speaker 4: The robots basically can assess the structural integrity of various facilities,
Speaker 4: cool energy infrastructure. But actually a big part of your
Speaker 4: business is AI and data. You sell them as a package.
Speaker 4: Give us the basics on Gego Robotics and we'll go
Speaker 4: from that.
Speaker 11: Yeah, thanks, Ed, Well, it's the company was started out
Speaker 11: with this mission of diagnosing the health of the built world,
Speaker 11: and so I started out of a college dorm with
Speaker 11: that with that ambition emission, and what we were able to
Speaker 11: understand and determine is we start with the foundation of
Speaker 11: understanding the health of built structures, whether it's a dam
Speaker 11: or a bridge, a vessel, of oil and gas refinery.
Speaker 6: Whatever the physical structure is.
Speaker 11: If you understand the health of that, you begin to
Speaker 11: get really good at understanding how these facilities work and function.
Speaker 11: And then what we've done is we've used all that
Speaker 11: information data and the processing data from the facilities and
Speaker 11: also the smart centors that we've built to be able
Speaker 11: to create an operating platform to help those facilities run
Speaker 11: in some cases twenty percent less cost for CAPEX and
Speaker 11: running those facilities, but also operate fifteen percent more efficient
Speaker 11: in some cases. And so the applications of the fence
Speaker 11: and commercial are enabled because.
Speaker 6: We have an unfair data advantage.
Speaker 4: Someone that's never seen a Geho robotics robot scaling a wall,
Speaker 4: explain what it looks like, how many of them are
Speaker 4: out there and deployed in the real world, and what
Speaker 4: kinds of commercial businesses are using them right now.
Speaker 11: Yeah, So the robots feed into the software operating platform
Speaker 11: called Candilever, and the robots can look like the size
Speaker 11: of a briefcase, climbing up a wall, climbing around, piping.
Speaker 11: We also have drones, were walking robots, or smart sensors.
Speaker 11: But all these tools are gathering information and data and
Speaker 11: plugging into that central software.
Speaker 6: And then what we've been able to.
Speaker 11: See is that customers are actually asking can we put
Speaker 11: our operational or our IoT sensor data into that platform
Speaker 11: as well to derive better results, outcomes or decisions on
Speaker 11: the ground. So what we've done is we've begun to
Speaker 11: enable the folks on the ground to become not just
Speaker 11: blue collar workers, but engineers because they can use the
Speaker 11: LLLM that we have inside of Candile Leaver to be
Speaker 11: able to understand what sort of decisions to make because
Speaker 11: they have the data that allows them.
Speaker 6: To be superpowered in that way.
Speaker 4: So the energy sector is somewhere where you're very focused.
Speaker 4: Next week, in your hometown, home state, there is a
Speaker 4: gathering of political gathering with the energy industry. You work
Speaker 4: with Legacy Energy to basically say here's how you could
Speaker 4: be better, just explain how the type works.
Speaker 11: Yeah, So they're right in Pittsburgh next week, the President
Speaker 11: and put on by Senator McCormick, is bringing some of
Speaker 11: the biggest names in energy and AI to the city
Speaker 11: of Pittsburgh.
Speaker 6: Where Get Goobrobotics is based.
Speaker 11: And so what it's going to be all about is
Speaker 11: not just what's the state of things and what the
Speaker 11: infrastructure for AI look like, But more importantly, the message
Speaker 11: that I'm delivering and I'm speaking on in particular with
Speaker 11: some of those leaders is how we should begin to
Speaker 11: judge AI's impact and energy by how much AI can
Speaker 11: actually create energy. Example, one of the biggest customers that
Speaker 11: we have that helps to run five percent of the
Speaker 11: power in the US, the five facilities that we've been
Speaker 11: able to deploy our technology stack and operating platform at
Speaker 11: have been able to show a huge increase to the
Speaker 11: heat rate of these natural gas power plants. The extrapolated
Speaker 11: impact is about ten gigawatts of more power without having
Speaker 11: to create a single new power point. This is a
Speaker 11: huge outcome as it relates to how do you combat
Speaker 11: this issue. We don't have enough energy to power the
Speaker 11: US In particular, to be the leader in artificial intelligence,
Speaker 11: energy is a constraint, and so AI should be able
Speaker 11: to unlock.
Speaker 6: Energy, not always the other way around.
Speaker 4: And what's so interesting is we're talking about some carbon
Speaker 4: based legacy source of energy.
Speaker 6: There's a lot of.
Speaker 4: Focus on you right now because last month you hit
Speaker 4: a one point two five billion dollar valuation.
Speaker 6: You want to scale.
Speaker 4: I know that you're kind of very focused on just
Speaker 4: keep continuing growing where we see a follow on round.
Speaker 6: Just to keep that on the hardware side going.
Speaker 11: We really so the way that customers buy and work
Speaker 11: with get Go is they buy the operating platform and
Speaker 11: all the robots and centsives just by the rover.
Speaker 6: They don't buy any of that.
Speaker 11: It all feeds into the outcomes that we are deliver
Speaker 11: with the operating platform, and so the biggest oil and
Speaker 11: gas companies in the world will be unveiling things in
Speaker 11: a couple quarters. Same with manufacturing facilities that are making
Speaker 11: steel or making copper. We go into these old sectors
Speaker 11: as Silicon Valley has very much forgotten about, and what
Speaker 11: that means for us is that the scale and the
Speaker 11: impact of pragmatic artificial intelligence robotics.
Speaker 6: Is hitting this inflection point.
Speaker 11: And you think about physical intelligence, and Jensen talks a
Speaker 11: lot about this physical intelligence in these built environments, whether
Speaker 11: it be in the defense sector that we work in
Speaker 11: or it's in the industrial there is very little physical
Speaker 11: intelligence and so we are the leading company as it
Speaker 11: relates to creating that which enables a moat for our
Speaker 11: artificial intelligence to be exceptionally better than those that are
Speaker 11: coming with a software only solution. Meaning to the answer
Speaker 11: to your question, scaling and increasing the amounts of fuel
Speaker 11: to fire to that fire is something that we're going
Speaker 11: to need to do the next time we.
Speaker 4: Have fifteen seconds. But your relationship with Nvidia, you're happy
Speaker 4: with them.
Speaker 6: Yeah, I'm really happy with them. There have been great but.
Speaker 11: Looking at physical intelligence for these industrial sectors, there's a
Speaker 11: lot more to go and so hopefully we can help out.
Speaker 4: Jake Luceerrian is the Gecko Robotics co founder and CEO
Speaker 4: out here in some valley, and a lot of people
Speaker 4: were interested in talking to this guy, Karro.
Speaker 3: I bet it really does feel like the year of
Speaker 3: the robot. Great conversation. I thank you. Coming up, our
Speaker 3: analysts say Apple should consider replacing Tim Cook. More on
Speaker 3: that note. Next, this is bluebg Tech. Welcome back to
Speaker 3: Blue beg Tech. Let's take a quick check on these
Speaker 3: markets as we are open for trade, and.
Speaker 2: Then as that one hundred has been flitting.
Speaker 3: Between gains and losses. Earlier in trade, we went down
Speaker 3: in the red.
Speaker 2: We're off of our lowers. We're off about a quarter
Speaker 2: of a percent.
Speaker 3: But when you've got in video in the red, of
Speaker 3: course that ples us a little bit lower. But more generally,
Speaker 3: we're waiting on a big bond orction. A lot of
Speaker 3: the yield movements been dictating what's happening in the stock
Speaker 3: market right now, but we are still near all time highs.
Speaker 3: Let's move on and think about what is very close
Speaker 3: to an all time high. We hit in excess of
Speaker 3: one hundred and twelve thousand dollars for bitcoin yesterday. We're
Speaker 3: at sixtens a percent on the interday basis, one hundred
Speaker 3: and eleven thousand, ninety five is where we trade, and
Speaker 3: it really does seem that in mid the trade anxiety
Speaker 3: there still is a risk asset of choice.
Speaker 2: Of course, apparently next week is crypto week according to
Speaker 2: the House.
Speaker 3: In terms of Washington, we'll see how those changes in
Speaker 3: rules and regulations continue to transpire. But let's get back
Speaker 3: to some of the big tech news here. When it
Speaker 3: comes to AI, Google's Gemina Gemini AI gets a new feature.
Speaker 3: The company says it's the latest AI update, can now
Speaker 3: produce eight second videos out of ordinary still pictures if
Speaker 3: you're a paid user.
Speaker 2: For all, Bloomberg's Dana Woman is here to join us.
Speaker 3: This is really AI ultra AI pro users of Google
Speaker 3: being able to keep up with what perhaps you're already
Speaker 3: getting on an open AI or with a runway for example.
Speaker 12: Yes, this is a feature that will be available to
Speaker 12: paid Gemini users, and it is a technology that Google
Speaker 12: first launched at its Io developer conference back in May.
Speaker 12: But this makes it available to a much broader swath
Speaker 12: of users, allowing it, as you said, to better keep
Speaker 12: pace with rivals.
Speaker 2: And it does have many rivals in this space, it
Speaker 2: does have rivals.
Speaker 3: It does also have a stop start feeling to Google
Speaker 3: because many would say, look, there were the reason they're
Speaker 3: underlying research is why we've got general to AI in
Speaker 3: the first place with the transformer perspective. But they had
Speaker 3: this sort of inevitable feeling that they were losing pace
Speaker 3: with rivals. Then they had the issue about whether or
Speaker 3: not there was some generative AI image features that change
Speaker 3: people's race, or there was a sort of a concern there.
Speaker 2: This is being replicated again in the video or no.
Speaker 12: Yes, So Google had a while ago pause certain generative
Speaker 12: AI features just for that reason. But here it there
Speaker 12: are some guardrails in place that said. We tested it
Speaker 12: ourselves and the results were both fascinating and somewhat mixed.
Speaker 12: For instance, reporter Natalie Lung, who is Asian, she did
Speaker 12: include a photo of herself and the AI did change
Speaker 12: her race in one of the videos without her asking it.
Speaker 12: To other goofs, we did ask for a video of
Speaker 12: someone breakdancing, we did not see any break dancing. Sadly,
Speaker 12: the AI did follow other instructions we gave faithfully, but
Speaker 12: not that one. So the results were mixed and we
Speaker 12: do expect the technology to improve.
Speaker 3: And people do seem to really love what's been coming
Speaker 3: out in terms of image generation coming from Google and Gemini.
Speaker 2: Writ large of late.
Speaker 3: But meanwhile Apple everyone still thinks is behind the curve
Speaker 3: when it comes to AI.
Speaker 2: Is interesting.
Speaker 3: We've got a note out today with analysts really talking
Speaker 3: about how maybe it's time to replace Tim Cook even
Speaker 3: we were hearing some view that really the AI focus
Speaker 3: is what needs to win here from a product perspective,
Speaker 3: rather than having someone in charge who.
Speaker 2: Owns the supply chain. But the fierce talent for AI.
Speaker 3: The wall going on is an amazing scoop that Mark
Speaker 3: German's been bringing us all week. And now we understand
Speaker 3: two hundred million might have been parted with to.
Speaker 2: Nab the head of AI.
Speaker 12: A pay package worth more than two hundred million. And
Speaker 12: I should say that this package does include not just
Speaker 12: a base salary and assigning bonus, but stock options. And
Speaker 12: there are a few things tied to that. One, someone
Speaker 12: would have to stay with the company for a certain
Speaker 12: period of time, so they wouldn't get all that money
Speaker 12: if they left early.
Speaker 2: And it also is tied.
Speaker 12: To the performance of the stock. So it does assume
Speaker 12: that the stock would reach certain levels, so if it doesn't,
Speaker 12: someone wouldn't receive that quite that large of a pay
Speaker 12: package in the end.
Speaker 3: And that is, of course all as we see transfer
Speaker 3: of talent going from Apple to Meta or everyone to Meta.
Speaker 3: As Mark Zuckerberg is all in on winning the superintelligence race.
Speaker 3: Where are we though, with the feeling around Apple right
Speaker 3: now as to ultimately whether it's business model is really
Speaker 3: necessary to be the generative AI developer of choice, So
Speaker 3: whether it ultimately can be the generator of AI products
Speaker 3: user of choice, we'd just go to it to use
Speaker 3: other AI offronts.
Speaker 12: So just given its overall stack performance and its market cap,
Speaker 12: I really hesitate to call it struggling, but I think
Speaker 12: it struggles in AI specifically have been well documented.
Speaker 2: I think it's.
Speaker 12: Efforts to have a new blockbuster hardware hit have been
Speaker 12: well documented. I think we know that the Vision pro
Speaker 12: has not been a great seller, even though reviewers and
Speaker 12: sort of tech enthusiasts have praised it for being innovative.
Speaker 12: And yes, the company does have a way to go,
Speaker 12: ways to go in AI, and certainly the poaching is
Speaker 12: yet another setback in that space.
Speaker 3: And maybe that's why hardware focusing with Apple Senior VP
Speaker 3: of Hardware Engineering, John Turnus's why he's being singled out
Speaker 3: by the note coming from Lightshed analysts as to whether
Speaker 3: he'd be the right replacement for Tim Cook Data Wollman.
Speaker 3: Fantastic to have her on all things Google and Apple. Now,
Speaker 3: let's return to that talent war that we were just
Speaker 3: talking of. Gray Oxweed Hoffmann calls multimillion dollar offers for
Speaker 3: a talent quote not crazy when such investments are expected
Speaker 3: to generate billions for a company. Now, he weighed in
Speaker 3: on the escalating AI talent war between Apple and Meta
Speaker 3: their own ed Ludlow over in Sun Valley.
Speaker 13: Well, so, essentially, one of the things that's good about
Speaker 13: having an open marketplace of anything, including labor, is that
Speaker 13: you essentially get multiple bidders, and that's what sets a price.
Speaker 13: And so the fact that someone goes, I'm willing to
Speaker 13: spend one hundred million dollars in order to get this talent.
Speaker 6: You think that's crazy.
Speaker 13: Why would it possibly do? That's like higher than the
Speaker 13: vast majority of CEOs the construct, Well, if that one,
Speaker 13: what you're judging is that one talent will potentially create
Speaker 13: billions of dollars of value for you, whether it's in
Speaker 13: a social network, whether it's in you know, kind of
Speaker 13: you know, a search engine, anything else as a way
Speaker 13: of doing it. And so if you think that, then
Speaker 13: that's just a bold bet.
Speaker 4: What Sam Oltman, the CEO of open ai, said was
Speaker 4: that that particular figure which he had accused Meta of
Speaker 4: offering to some open ai staff, what he claimed was
Speaker 4: it was crazy. That it sounds like it's not crazy.
Speaker 13: Really, well, I don't think it's crazy when we know
Speaker 13: that AI is going to transform all businesses in all industry,
Speaker 13: in the entire tech industry, and these are trillion dollar
Speaker 13: companies et cetera at the high end and the whole
Speaker 13: stack all the way through undown in.
Speaker 6: A billion today.
Speaker 4: For a brief moment, one of them was a four
Speaker 4: trillion dolesmpany exactly, please continue.
Speaker 13: Yes, Nvidia, and so the you know so saying hey,
Speaker 13: this piece of talent is a risk adjusted bet. That
Speaker 13: that makes a difference in that that's just a risk bet.
Speaker 13: You might say it's a dumb risk bet, but it's
Speaker 13: not done to do if those are the stakes you're
Speaker 13: playing for.
Speaker 3: Gray Lock partner and LinkedIn co founder Reid Hoffman with
Speaker 3: ed Ludlow. Coming up, we speak with the CEO and
Speaker 3: co founders Varda Space the latest series funding.
Speaker 2: Again, we're live from some valley. Stick with us. This
Speaker 2: is really bad time.
Speaker 3: Welcome back to Bloomberg Tech. Now, Varda Space Industries has
Speaker 3: announced it's raised one hundred and eighty seven million dollars
Speaker 3: in the Series C funding, bringing its total capital raise
Speaker 3: to three undred and twenty five million dollars. Then the
Speaker 3: company aims to produce medicines in low Earth orbit. And
Speaker 3: Ludlow is standing by in Sun Valley with Delian Asparov is,
Speaker 3: co founder of Varda, and we're also joined by will Brewy,
Speaker 3: Varda CEO. And will I start with you the money,
Speaker 3: what will you use it for?
Speaker 14: Oh, we have big plans. The Series C raise is
Speaker 14: great because it allows us to open up our biologics
Speaker 14: lab down the street, and the entire purpose of that
Speaker 14: is to prepare biologics formulations, so medicines for flight in
Speaker 14: outer space. And the entire purpose of this is micro
Speaker 14: gravity allows us to create new drug formulations that otherwise
Speaker 14: would be impossible to create on Earth. That's the whole
Speaker 14: purpose of Varda. And so with this Series C funding
Speaker 14: we're able to build out a large lab space to
Speaker 14: vet those drug formulations before flying them and create an
Speaker 14: entire pipeline on the way to space.
Speaker 4: Delian, I just want to point something out, which is
Speaker 4: that you were also a partner at Founder's Fund and
Speaker 4: this has worked exactly the same way it always works.
Speaker 4: You recuse yourself from the round and you represent VARDA,
Speaker 4: but they participated as depeated t as an individual. Just
Speaker 4: expand a little bit in what we were saying. You know,
Speaker 4: one of the big changes that you guys have made
Speaker 4: over the last yearies to start manufacturing yourself away from
Speaker 4: Rocket Lab who used to do that as kind of
Speaker 4: the third party for you. Why is that significant and
Speaker 4: how does that ramp look?
Speaker 10: Yeah, I mean they were you know, sort of phenomenal
Speaker 10: partner and were deeply grateful you know too them and
Speaker 10: there they got us off the ground, you know, very quickly.
Speaker 10: But as we were looking to you know, sort of
Speaker 10: scale up our cadence of flights and ability to truly
Speaker 10: control our supply chain, we had.
Speaker 6: To go more full stacking.
Speaker 10: We see this in a variety of different aerospace companies,
Speaker 10: where as they scale up, they tend to go more
Speaker 10: full stack over time. So that's going only to allow
Speaker 10: us to you know, fly four times next year, and
Speaker 10: then after that ideally start doubling basically every single year
Speaker 10: and be able to control that doubling entirely in house.
Speaker 6: And then it just expands the.
Speaker 10: Capabilities that we have on the spacecraft in terms of
Speaker 10: you know, biopharmaceutical production. By owning more of it, we're
Speaker 10: able to expand the capabilities of what we can have
Speaker 10: on board.
Speaker 4: Well, Dell's talking about all of the rampant launch getting
Speaker 4: to orbit. The big beautiful benefit is zero gravity right
Speaker 4: in the pharmaceuticals context. But then you've got to get
Speaker 4: back down to Earth and that's been one of the
Speaker 4: really exciting parts to track with Vada. The video in
Speaker 4: particular explain how that process works and also how it's
Speaker 4: going to go going forward.
Speaker 14: Yeah, so you hit the nail on the head. The
Speaker 14: entire reason for going to space is for micro gravity.
Speaker 14: It's just a fundamental force of physics that you can't
Speaker 14: change on Earth. You know, we don't want to go
Speaker 14: to space to have to make these new drugs. You
Speaker 14: just have to because of the laws of physics, and
Speaker 14: so our spacecraft allows us to do that quickly and cheaply,
Speaker 14: and a lot and a part of that is once
Speaker 14: we make those drugs in orbit in microgravity so that
Speaker 14: they're different than they would be made if they were
Speaker 14: on Earth, we have to bring them back and that's
Speaker 14: certainly the most exciting part for the aerospace engineers here.
Speaker 14: You know, my background is also airspace engineering. Like you said,
Speaker 14: the video is phenomenal. We hit the atmosphere going mock
Speaker 14: twenty five, So that's twenty five times the speed of sound,
Speaker 14: twenty seven times the speed that you go on a
Speaker 14: commercial airliner, and so you rip apart the atmosphere and
Speaker 14: you create this beautiful plasma of a shooting star for
Speaker 14: over a minute across the sky. It's beautiful on the
Speaker 14: way back.
Speaker 3: The passion is real, Delian, the demand is real as well.
Speaker 3: I'm interested in the DoD and the government perspective here
Speaker 3: because we have seen so much more focus coming on
Speaker 3: space and defense more broadly.
Speaker 10: Yeah, you know, sort of new Secretary of Defense in
Speaker 10: the early days of the Trump administration came out with
Speaker 10: what his national security priorities were going to be a
Speaker 10: top three where nuclear weapons modernization, the development of next
Speaker 10: generation hypersonic capabilities, and shipbuilding and you know, while VARDA
Speaker 10: doesn't really you know, sort of build chips, you know,
Speaker 10: we do you help the DoD you know, sort of
Speaker 10: with the other two and have a variety of different
Speaker 10: you know, sort of collaborations across groups from the Air Force, Navy,
Speaker 10: and NASA. What they're primarily interested in is as well
Speaker 10: mentioned as we come into the atmosphere we're going mock
Speaker 10: twenty five. It's regime that typically is very difficult to
Speaker 10: study on the ground and really understand what the flight
Speaker 10: dynamics will be like. And so you can think about
Speaker 10: the value proposition for VARDA to the Defense Department as
Speaker 10: effectively like a hypersonic wind tunnel. They can attach net
Speaker 10: new materials, wing shapes, sensors onto the vehicle as we're
Speaker 10: coming in as a way to validate the subsystems performance
Speaker 10: before they go and take that and integrate that into
Speaker 10: the ultimate you know, sort of production system. And so
Speaker 10: by enabling faster testing, more frequent testing, cheaper testing, it
Speaker 10: allows us to expand on our capabilities and ideally both
Speaker 10: catch up to you and surpass some of our new
Speaker 10: europeer adversaries like China in Russia that have demonstrated some
Speaker 10: pretty phenomenal hypersonic boost glide capabilities.
Speaker 3: I also think that the competition is somewhat closer to home,
Speaker 3: or maybe it's a frenemy situation. Will you have got
Speaker 3: such a broad experience, You've been flying the Dragon yourself
Speaker 3: when you were working at SpaceX. You've also worked in banking,
Speaker 3: you've founded your own venture fund in many ways, But
Speaker 3: will I ask you now, what is your biggest headache?
Speaker 3: Is it talent? Is it the race for talent? How
Speaker 3: do you expand?
Speaker 9: Well?
Speaker 14: Believe it or not, there's not that much competition in
Speaker 14: re entry because we're so much different than other commercial
Speaker 14: re entry vehicles like SpaceX's Dragon or Boeing Starliner. We
Speaker 14: are much smaller, we're off access in almost every way.
Speaker 14: We're much smaller, we're higher cadence, we're not human rated,
Speaker 14: and we're lower cost. So it's more of a complementary situation.
Speaker 14: As far as headaches go, you know, a lot of
Speaker 14: them are gone now thanks to a working spacecraft and
Speaker 14: funding to grow. It's more about enthusiasm and exciting here.
Speaker 14: I would say the challenge over the next couple of
Speaker 14: years is really to scale up that cadence because as
Speaker 14: we scale cadence. We begin to look more and more
Speaker 14: just like a zero gravity oven. To the pharmaceutical industry,
Speaker 14: they they quite frankly, don't care that we're going to
Speaker 14: outer space. They only care that we can deliver new
Speaker 14: drug formulations, and we just happen to have to do
Speaker 14: that by going the space and back. So the more
Speaker 14: often and the more frequent we can do that, the
Speaker 14: more easily it is for us to integrate into the
Speaker 14: pharmaceutical supply chain. And so that's the big challenge over
Speaker 14: the next couple of years is increase cadence, fly more
Speaker 14: spacecraft and fly more, develop more drugs on board.
Speaker 4: Dellian, The misconception maybe or misunderstanding about what Will's talking
Speaker 4: about ramping the cadence is the cost consideration flying SpaceX
Speaker 4: on transport emissions. Actually, my understanding is it's not that
Speaker 4: great a cost. But would you talk a bit about
Speaker 4: the relationship and how it works hitching a ride on
Speaker 4: Falcon nine.
Speaker 10: Yeah, I mean to give you a send. It's like,
Speaker 10: of our total all in mission costs that like space X,
Speaker 10: like launch costs represent about twenty twenty five percent of
Speaker 10: our costs.
Speaker 6: So it's not like the.
Speaker 10: You know, majority or anything. It's also you know, definitely
Speaker 10: one of the larger line on it was, but there's
Speaker 10: a lot of other things that go into operating either
Speaker 10: of our business. Our business could not exist without the
Speaker 10: you know sort of Falcon nine being reusable and that
Speaker 10: you know sort of transporter program. If you think about
Speaker 10: even you know, sort of five six years ago, your
Speaker 10: only real option to get up to orbit was having
Speaker 10: to buy a full dedicated rocket or find some way
Speaker 10: to squeeze yourself onto a large geosats you know, sort
Speaker 10: of launch and you know be on board, but you know,
Speaker 10: find your own way to orbit. Now, these transporter missions,
Speaker 10: they're doing them, I think on the order of three
Speaker 10: times a year. They start to add on you know,
Speaker 10: different inclinations in orbit. They have these bandwagon bandwagon missions
Speaker 10: that go to you know, sort of polar orbit, and
Speaker 10: so it's been a really you know, sort of critical
Speaker 10: you know, sort of part of our ability to actually succeed.
Speaker 6: As a business.
Speaker 10: I think there's just this interesting you know of pattern
Speaker 10: and technological history where when certain infrastructure layers get built up,
Speaker 10: it enables these net new you know sort of business
Speaker 10: opportunities right in some ways for a business like Uber
Speaker 10: Airbnb to get built, you kind of needed mobile to
Speaker 10: be very distributed and have the app store, and that's
Speaker 10: what really enabled those business models. We think of, you know,
Speaker 10: sort of the access to space and what SpaceX provides
Speaker 10: us in the same way. It's a fundamental infrastructure layer
Speaker 10: that enables our business and it wouldn't have been possible,
Speaker 10: you know, sort of without them, and so we're thrilled
Speaker 10: to have them, you know, you know sort of partners
Speaker 10: and you know, have lots and lots of you know,
Speaker 10: rockets out you know, sort of bud with the SpaceX.
Speaker 10: I think, you know, we've booked out all the way through.
Speaker 10: I think like Q three twenty seven or something like that.
Speaker 4: You know, will we recognize here on Bloomberg Tech there
Speaker 4: are many in the space industry who have looked to
Speaker 4: the defense apparatus of this country and the defense use
Speaker 4: case to kind of start to get off the ground
Speaker 4: because of grants and because of the availability of freedom
Speaker 4: to move. But long term, what is the business model?
Speaker 4: Who will your customers be when you're able to bring
Speaker 4: payload back down to Earth. Pharmaceuticals developed in that zero
Speaker 4: gravity environment.
Speaker 14: Yeah, it's it is a new technology and what's cool
Speaker 14: going to the defense aspect and Deli and hinted towards us,
Speaker 14: is that because reusable andmercial launch is a unique American asset,
Speaker 14: VARDA is also a unique American asset on top of that,
Speaker 14: so it's almost a leap frog above everyone else. And
Speaker 14: so we have this cool armada of small, low cost,
Speaker 14: high cadence re entry vehicles that can provide a service
Speaker 14: continuously for the Department of Defense as a hypersonic wind
Speaker 14: tunnel like Dally mentioned. So to answer your question, what
Speaker 14: that means is now the Department of Defense can test
Speaker 14: things like sensors, new materials for heat shields, they can
Speaker 14: test flight computers and RF or radio frequency systems navigation systems.
Speaker 14: So very similar to like a wind tunnel where it's
Speaker 14: acting as infrastructure so that the Department of Defense can
Speaker 14: advance new technologies faster and cheaper.
Speaker 2: Fascinating conversation.
Speaker 3: Thank you for all joining us, Will Brewy, Delian, Asmare
Speaker 3: Evada and of course Ed stick.
Speaker 2: With us out there in some valley. We thank you.
Speaker 3: Now, coming up, we're going to hear from s Pat
Speaker 3: Yukaro Bain Capital and his outlook the AI sector. This
Speaker 3: is Bloomberg Tech let's head back to some value, where
Speaker 3: the future of AI is one of the hot topics
Speaker 3: among tech leaders. Steve Baruca of main Capital sat down
Speaker 3: with Ed Ludlow to discuss well why the AI revolution
Speaker 3: reminds him of the early days of the Internet and
Speaker 3: actually talk about the potential for AI to transform productivity.
Speaker 15: It reminds me a lot of the end of the
Speaker 15: period of kind of ninety eight, ninety nine, two thousand
Speaker 15: and two thousand.
Speaker 6: And one in the Internet. That's worrying. Well, no, no, no, no.
Speaker 15: There were some fits and starts, and there'll be some
Speaker 15: fits and starts in AI, but I think we're past
Speaker 15: the almost past the fits and start stage. You've got
Speaker 15: kind of nine global foundation model companies the Internet out there,
Speaker 15: perplexity of open AI. We actually funded a startup from
Speaker 15: MIT that has modeled the new AI system on a
Speaker 15: worm's brain.
Speaker 6: Believe it or not?
Speaker 15: Do you know do you know how many neurons and
Speaker 15: worms brain hasn't it?
Speaker 6: Educate me?
Speaker 15: Three hundred and five?
Speaker 4: Okay?
Speaker 15: How many? How many neurons do you think a human
Speaker 15: brain hasn't many?
Speaker 6: Many more?
Speaker 15: Eighty six billion?
Speaker 6: Right? And you're smarter than most. Maybe you have eighty
Speaker 6: seven billions kind of you.
Speaker 15: But they they these wonderful scientists that a MIT came
Speaker 15: up with this model called the neural network model. Of
Speaker 15: those nine companies, they're one of those nine companies out
Speaker 15: there that are state of the art. They actually because
Speaker 15: they they've used the neural network model. They use eighty
Speaker 15: percent less GPUs to build the model, and therefore they'll
Speaker 15: be perfect for edge devices like phones, because you don't
Speaker 15: need the power and so a chet GPT model costs
Speaker 15: about five hundred million dollars of GPU to load it.
Speaker 15: You can do that for eighty five or ninety percent less,
Speaker 15: and this model can sell on phones. And they're they're
Speaker 15: just they're they're signing deals with edge device companies, you
Speaker 15: know as we speak. So it's very exciting, and all
Speaker 15: the costs are going down for the chips, for the
Speaker 15: for the for the model loading. And as opposed to
Speaker 15: the Internet, which there were some very few big winners,
Speaker 15: I think there will be a lot of winners here
Speaker 15: because there's going to be vertical models and foundational models,
Speaker 15: and the vertical models will have the chuck full of expertise.
Speaker 15: First example, a medical diagnosis model that focuses on disease
Speaker 15: states and giving you a diagnosis. And some of these
Speaker 15: models are proving much better than humans because it's a
Speaker 15: game of elimination. Once you put the right data in,
Speaker 15: it gives you the diagnosis. The same thing reading x rays. Right,
Speaker 15: the models AI models reading x rays are now beating
Speaker 15: the top humans in the field. So really it's really
Speaker 15: we're only still in the early stages. It's going to
Speaker 15: revolutionize productivity. It's going to have the same impact that
Speaker 15: the Internet had twenty years ago, and it's going to
Speaker 15: be a twenty year run. And that's why Navidia's values
Speaker 15: so high, because they're in the cat bird seed of
Speaker 15: the chips needed to power that revolution.
Speaker 3: Steve Padiuca a baying capital and the Boston Celtics. Now
Speaker 3: that does it for this edition of Bloomberg Tech. Next week,
Speaker 3: bloombag Tech will be live from Panasics new EV battery
Speaker 3: plant in Kansas. Tune in for an exclusive interview with
Speaker 3: the Panasonic North America CEO on Monday.
Speaker 2: And meanwhile, len't forget to check out our podcast.
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Speaker 3: on Apple, Spotify, and iHeart from the Sun Valley, Idaho,
Speaker 3: or from New York.
Speaker 2: This is Bloomberg Tech