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We want to go live to the stage in Davos now where Elon Musk is speaking with black Rock CEO.
Very think it's an important component of huween what we are and I'm thrilled to have Elon Musk here.
He came all the way from California to be here. It's to see all of you. So thank you, Elon.
You was welcome. I mean I heard I heard about about the formation of the Peace Summit and I was like, is that is that p I e c uh, you know, a little piece of Greenland, a little Pisa.
Thanks, we got one.
All we want is peace.
Okay, I'm gonna as I said, I'm a pretty proud uh CEO of black Rock since we went public. Uh, the com pounding return of blocklock to our shoulders with twenty one percent. Since Elon took Tesla public, his compounded.
Return is forty three percent.
This is just another advertisement for everybody, especially for Europeans. This is why more citizens should be investing with growth, investing with your countries. Imagine if a lot of pension funds invested with Elon when Tesla went public and how much we return with the all the pension funds that invested side by side with Elon and the growth, so a spectacular return.
There's very few companies.
Well, I don't think there's any other company as large as Tesla today that has that compoundent return.
So congratulations, I think a good measurement.
Well, we have an incredible team a Tesla. That's the reason.
So I want to get into there the meaningful component about technology, the possibilities. I want to talk about AI and robotics, energy, space and the progress ultimately coming down to engineering, engineering, discipline, scale execution, and few people, if not anyone, has the experience and the fortitude to confront these issues head on, not just the ideas, but the execution across so many different technology Zelon and that's why I thought it was important for us to have this
dialogue here in Davos. So you're presently building on AI, on robotics, on space, on energy all at the same time. When you look across those efforts, what do they have in common from an engineering standpoint, Well, they're.
All vertical technology challenges.
But the.
Overall goal of my companies is to maximize the future of civilization, like basically maximize the probability that civilization has a great future and to expand consciousness beyond Earth. So take SpaceX for example, that SpaceX is about build advancing rocket technology to the point where we can extend life and consciousness beyond Earth, to the Moon, to Mars, eventually
to other star systems. And I think we should always view consciousness life as we know it, as as precarious and delicate, because to the best of our knowledge, we don't know if life anywhere else. You know, I'm often asked other aliens among us and I'll say that I am one.
But or are you here from the future?
They don't believe me, okay, So I think if anyone would know if there are aliens among us, it would be me. And we have nine thousand satellites up there, and not once have we had to maneuver around an alien spaceship. So like, I don't know. The bottom line is, I think we need to assume that life and consciousness
is extremely rare and it might only be us. And if that's the case, then we need to do everything possible to ensure that the light of the light of consciousness is not extinguished because we're effectively the way I view, it is the measure, in my mind, is of a tiny candle in a vast darkness, tiny candle of consciousness that could easily go out. And that's why it's important to make life multiplanetary such that if there is a natural disaster or a man made disaster on Earth, that
consciousness continues. That's the purpose of SpaceX Tesla is obviously about sustainable technology and and and also at this point we've we've sort of added to our mission sustainable abundance. So with the robotics and AI, this this is really the path to abundance for all. If you say, you know, people often talk about solving global poverty or essentially how do we make give everyone a very high standard of living?
I think the only way to do this is AI and robotics, which which doesn't mean that it is without its issues. I mean this, We need to be very careful with AI, We need to be very careful with robotics. We don't want to find ourselves in a James Camera movie. Uh, you know, Terminator. He's great, great movies, love his movies.
But we don't want to be a Terminator. Obviously. But if you have ubiquitous AI, that is essentially free or close to it, and ubiquitous robotics, then you will have an an explosion in the global economy, an expansion in the global economy that is truly beyond all precedent.
And can that expansion be broad or is it narrow? And how can that be created? How can it broaden the global economy?
Yeah, it's I mean, I mean the way to think of it is that if you have a large number of humanoid robots, the economic output is the average productivity
per robot times the number of robots. Right, And actually, my prediction is the in the benign scenario of the future that we will the robots will actually make so many robots in AI that they will actually saturate all human needs, I meaning you won't be able to even think of something to ask the robot for at a certain point, like like there will be such an abundance of goods and services because the my prediction is there'll be there'll be more robots than people.
So but how do you then have human purpose in that scenario?
I mean, you know, there was nothing is perfect, you know, but I mean, I mean, is it is a necessary Like you can't have both, You can't have work that has to be done, uh, and amazing abundance for all because if it's if it's work that has to be done, then then then you and and only some people can do it, then then you you can't have abundance narrow
narrow exactly. So but if you if you have billions of humanoid robots, and I think it will be I think I think everyone on Earth is going to have one and going to want one because you're who wouldn't want a robot to you know, assuming it's very safe, watch over your kids, take care of your pet, if you have elderly parents. A lot of friends of mine have said that for elderly parents, it's it's very difficult
to take care of them. Yeah, it's expensive, and it's expensive, and they just aren't enough people to take care of the not enough young people to take care of the old people. Right, So if if they if you had a robot that could take care of and protect and elderly parents, I think that would be great. That would be an amazing thing to have and and I think we will have those things. So overall, I'm very optimistic
about the future. I think we're headed for a future of amazing abundance, which is very cool and uh and definitely we are in the most interesting time in history. I think there's more a more interesting time in history.
Can we can you and I reverse aging in this new history or or are we going to see it?
You know, I haven't.
I haven't put much time into the aging stuff. I do think it is a very solvable problem that you can do. I think when we find figure out what causes aging, I think we'll find it's incredibly obvious. It's not a subtle thing. The reason I say it's not a subtle thing is because all the cells in your body, you know, with some pretty much age at the same rate. I've never seen someone with with an old left arm and a young right arm ever in my life. So
why is that? That means that there must be a synchronizing clock that is synchronizing across thirty five trillion cells in your body. And you know there is some benefit to death by the way, It's like there's there's a reason why we don't actually have a longer lifespan, because if you have, if people do live forever for a very long time, I think there's some risk of an ossification of society of things just getting kind of locked in place, and you know, it just may become stultifying,
just not lack vibrancy. But that's said, do I think we'll figure out ways to extend life and and maybe even reverse aging. I think that's highly likely.
I'm looking forward to that. Yeah, So in the future that you talk about the AI models, autonomous machines rockets depends on massive increases a compute, massive increases energy expensive energy, manufacturing scale.
What are the mottle next to get there?
And once again, with all that expenditures, again, how can we make sure that it's broughten not narrow.
I just think the natural thing is it's going to be very broad because AI companies will seek as many customers as they possibly can, and the cost of AYE will get is already very low, and it's planeting every year, I mean almost the cost of AI is almost changed, meaningfully changing on a month's month basis.
There's open there's open models now everywhere.
Yes, very as open models, and the open models only lack there maybe a year behind, right, the private the sort of closed models. So so I think the AI companies will seek as many customers as possible which means they'll see they'll provide AI to the world.
But the cost of getting to there, the compute, the chips, the fab the powering that to me, what are the what are the you know, those are a huge limiting factor.
I think the limiting factor for AI deployment is fundamentally electrical power.
It's just like its energy.
Yeah, yeah, I mean we're seeing the rate of AI chip production increase exponentially, but the rate of electricity being vote online is.
Year acts.
Yeah, it's clear that we're very soon, maybe even later this year, we'll be producing more trips than we can turn on. Except for China. China. China is China's growth and electricity is tremendous.
Hundred gigawatts of nuclear as we speak.
Actually, solar is the biggest thing in China, So China is. I believe Chinese production capacity on solar is fifteen hundred gigawats a year, and they're deploying over a thousand gigawatts a year of solar. Now, you know, for continuous solar load, you divide that by roughly four or five call it. That's around two hundred and fifty gigawats of steady state power. Paired with batteries, and that's a very big number. That's
half of the average power usage in the US. Sous US power usage on average is five hundred gigawats China. Just in solar, just like just in solar, act that can provide steady state power and batteries can do half of the US electricity output fer year just for solar. Solar is by far the biggest source of energy. And actually when you look beyond or even on Earth, but certainly beyond Earth, the Sun rounds up to one hundred percent of all energy. This is an important thing to consider.
So the Sun is ninety nine point eight percent of the mass of the Solar system, Jupiter is about point one percent, and everything else is miscellaneous. Now, even if you were to burn Jupiter in a thermino yactor, the amount of energy produced by the Sun would still round up to one hundred percent, because Jupiter is only point
one percent. If you teleported teleported three more jupiters into our solar system and burnt three more Jupiters and everything else in the Solar system, the Sun's energy we're still round up to. So it's really all about the Sun, and that's That's why one of the things we'll be doing with SpaceX within a few years is launching solar powered AI satellites because the space is really the source of immense power, and then you don't need to take
up any room on Earth. There's so much room in space, and you can scale to enormous I mean, you can scale to I think ultimately hundreds hundreds of terror worts a year.
You and I have had these conversations before it. What did you tell the audience what would it take for the United States? And what type of geography would it take to have that solar field to electrify the United States? And then let me ask a question, why aren't we doing it?
Yeah? So, I mean, I guess the rough way to think about it is one hundred miles by one hundred miles or one hundred and sixty kilometers by one hundred and sixty kilometers of solar is enough to power the entire United States. So miles one hundred mile areas is I mean that you could take basically a small corner of Utah, Nevada, Nevada, New Mexico. Obviously wouldn't want it all in one place, but it's a very small percentage of the area of the US to generate all of
the electricity that the US uses. And the same is true actually, I mean for Europe, you could take a small part. You could take relatively unpopulated areas of say Spain and Sicily and generate all of the electricity power that your needs.
So why don't you think that there's a movement towards that here and in the United States?
Well, there is, as it is in China.
Well, unfortunately in the US the tariff barriers for solar are extremely high, and that makes the economics of deploying solo artificially high because China makes almost all the solar and and that what.
Would it take for Europe or the US to build it commercially if it's that scale, Yeah.
I think I think. Well I can tell you what we're going to do. You know, SpaceX and Tesla is we're building up large scale solar. So the SpaceX and Tesla teams, both separately are working to build to one hundred gigo what's a year of solar power in the US of manufactured solar power, and that'll probably take a center in about three years. But that's that's these are pretty big numbers, and you know, I encourage others to do the same. We obviously don't control that. You know,
your your tariff policy. Uh, but for for for other countries, UH, I would reckon that this China makes solo cells that are incredibly low costs, and I think it would be worth doing a large scale solo.
So I know you are You're going to be having a couple of big announcements on robotics and what it can do. I mean, when I went to the factory, you showed me those robots. How quickly you talked about the billions of robots, but how quickly and how quickly can they be deployed in a manufacturing setting. How quickly can they be utilize and be functional and be create that that abundance that you talked about.
Well, humanoid robotics will advance very quickly. I think we do have some the Tael's Optimus robots doing simple tasks in the factory, except probably later this year. By the end of this year, I think they will be doing more more complex tasks and still deployed in an industrial environment, and and probably sometime next year. I'd say that by the by the end of next year, I think would
be selling humanoid robots to the public. That that's when we are confident that it's very higher liability, very high safety, and the range of functionality is uh is also very high. You can basically ask it to do anything you'd like.
You're already seen that in Tesla car. Is the software changes that you're doing and what is it? Every quarter now a software change that upgrades the ability of the robot within the car.
Yes, the tails a full self driving software. We update it sometimes once a week and there recently some of the insurance companies have said that it is actually so safe. Where tells a full self driving so safe that uh, they're they're offering customers half price insurance if they if they use tess a full self driving in the car.
And that could be monitored by the insurance company, can they Is that part of the agreement?
Yeah? But I think self driving cars is essentially a solved problem at this point, right, and test tells us a role out sort of robotaxi service in a few cities and will I be very very widespread by the end of this year within the US, and then we hope to get supervisor for self driving approval in Europe hopefully next.
Month really quickly.
Yeah, and then maybe a similar timing for China, hopefully.
I want to move to space because historically space is very capital and intensive, historically been done by governments of least space.
Exchange, the whole model.
But we've seen it slow to scale and now I'm starting to see it ramping up.
In what you're doing and other things.
Talk to us about the reasons, you know, the automation and AI, how it's changing the economics and building and preparing for us in operating in space.
Sure. Well, the key brain through that tells that that's the major breakthrough that SpaceX is hoping to achieve this year is full reusability. So no one has ever achieved full reusability of a rocket, which is very important for the cost of access to space. We've achieved partial reusability with Falcon line by landing the boost stage. We've now landed the boost stage over five hundred times, but we
don't we have to throw away the upper stage. The uper stage burns up on re entry for Falcon nine, so and that the cost of that is equivalent to a small to medium sized jet. So, but with with Starship which is a giant rocket. It's the largest flying machine ever made, not.
The rocket that you're using for the idea of going to Mars, right.
Yeah, Mars and the Moon, as well as for high volume satellite stuff. So Starship. Hopefully this year we should prove full reusability for Starship, which will be a profound invention because the cost of access to space will drop by a factor of one hundred when you're chief full reusability. It's the same sort of economic difference that you would expect that between say a reusable aircraft and a non
reusable aircraft. Like if you have to throw aircraft away after every flight, that would be a very expensive flight. But if you only have to refuel, then it's the cost of the fuel. And so that's really the fundamental breakthrough that gets the cost of access to space we think below the cost of a freight on aircraft, so you know, under one hundred dollars a pound type of thing easily. So it makes putting large satellites into into
space very low, very cheap. And then when you have solar in space, you get five times more effectiveness, maybe even more than that than solar on the ground because it's always sunny cold. Yeah, it's it's it's always well, it's toways sunny. So you don't have a day night cycle or seasonality or weather, and you get about thirty percent more power in space because you don't have atrospheric attenuation of the power. The net effect is solar is
five times more. Any given solar panel will do five times more energy in space than on the ground.
There's there any capacity in doing that and taking that power and bringing it back to Earth.
Is there any way of doing that?
Or you're just taking that power and utilizing it for the needs.
Like building I data centers in the space.
I think the case is it's a no brainer for building AI solar powered AI data centers in space because as you mentioned, it's also very cold in space. If if you're in the shadow, it's very cold in space. There's three degrees Calvin. So you just have your solar panels facing the sun and then a radiator that's like point like pointed away from the sun so it has no sign incidents, and then it's and then it's just cooling.
It's a very efficient cooling system. So net effect is that the lowest cost place to put AI will be space and that'll be true within two years, maybe three three of the latest.
So looking ten or twenty years out, well, how would you describe success with AI or space technology?
And where do you see it is that? Can you?
Are you more certain what's going to happen to the next three years or five or ten.
I don't know what's going to happen in ten years, but the rate at which AI is progressing, I think we might have AI that is smater than any human by the end of this year. And I'd say no later the next year well, and then probably by twenty thirty or twenty thirty one could five years from now, AI will be smarter than all of humanity collectively.
We only have a number of minutes left. But I want to humanize you for a second, so there's no speculation like you're right, pie right, I want to I mean, I would frame this question by you are the most successful entrepreneur industrialists in the twenty first century, maybe beyond. So I want to really get this. You know what inspired you? Who's inspired you? What was a foundation of your curiosity? And and importantly.
What was the book? What was it?
Was there an aha moment epiphany at any time in your life and career.
Well, I mean as a kid, I read a lot of science fiction, sci fi, fantasy books we talked about and uh, comic books.
Uh.
And I always like technology.
Uh.
I didn't expect to be where I am today. Seems incredibly implausible, but yeah I was. I was inspired by reading about books about the future, about science fiction and uh and I guess I want to make science fiction not fiction forever. At some point turned science fiction to science fact. And uh, you know, we want to have like Starfleet and star Trek really for for real, like where we actually have giants, spaceships traveling through space, going to other planets, traveling to other star.
Systems, beamed up to go back to New York. You know, I'd like to just be beamed back to New York instead of flying.
Yeah, star Trek. I guess my my essential what I would call the philosophical philussy of curiosity. I'd like to understand the meaning of life. You know, the is the standard model, is the standard model of physics correct regarding the beginning of life, beginning of existence, and the end of the year verse. What what questions do we not know to ask that we should ask and a I will help us with these things. So I'm just trying to say, how do we get here, what's going on?
What's real? Are there aliens? Maybe they are? And if we've got if we've got spaceships that are traveling to other star systems, we may find we may encounter aliens and or may find many long dead alien civilizations. But I'm just, I just I just want to know what's going on. I'm curious about the universe, and that's my philosophy.
You see yourself ever going to Mars in your lifetime?
Yeah, I mean I would say, like, you know, that's a long commitment.
I've been asked, wasn't that three years? Each way?
It's six months?
Six months? That's all it is.
Yeah, six months. But the planets only aligned every two years, so uh yeah. I've been asked a few times like do I want to, you know, die on Moss And I'm like, yes, but just not on impact.
That's a that's a good answer. Anyway, we're out of time. I hopefully everybody enjoyed this. I mean, there's so many myths around Elon Muss. I can tell you he's a great friend and I constantly learned so much from him, and I'm totally inspired by what he's what he has done, and then it's been inspired who he is. And I'm totally inspired by his vision of the future, and I don't think it's such a bad future, and I agree with his optimism.
So Elon, thank you.
Any last words, Well, I think generally, I think my last words would be I would encourage everyone to be optimistic and excited about the future good and and generally, I think for quality of life, it is actually better to err on the side of being an optimist and wrong rather than a pessimist.
And right.
On that note, this is Bloomberg Tech, and that was Elon Musk, the world's richest man, CEO of Tesla's SpaceX, alongside black Rock CEO Larry Think They're in.
Davos and Caroline.
A lot of this is Elon Musk's talking book Things We've heard Before, and I was trying to discern, like what's new and what's news. We sent the headline on the Bloomberg terminal that Tesla could be selling optimists to the public their humanoid robot at the end of next year. That seemed to move the shares for Tesla. What else caught your ear because there.
Was a lot Yeah, and I think the idea of how much more improved optimists will be, how sophisticated it will become, and how.
Many billions will be out there in the world.
But more broadly, he also talked about where he is in terms of Starship, where he aims in terms of space, and the idea that they want to be improving full the usability.
For Starship this year.
And of course then the favorite talk of most CEOs at the moment, if you're in the world of AI, is putting AI data centers in space and what that means and centers a solar energy There was a lot talked about in terms of energy.
Did that take your interest.
Because really that seems to be the bottleneck of choice at the moment.
Yeah, you know, TESLA has an energy division, right, and so it was obvious that he would kind of talk that part up. But this is something in the consciousness of the administration. The rest of supply chain. China dominates supply of solar energy and whatever SpaceX's long term ambitions are for data centers in space. Clearly Larry Think tried to get Elon Musk to say, Hey, the US and
Europe should be doing more. Must didn't really bite, but he did go as far to say, well, look, this is what Tesla and SpaceX are doing over the next two to three years. No brainer to have solar powered compute and space, but also ramp up the output of cells because if you don't sell them into markets like Europe China does.
Precisely, also talking about how cheaper AI could become. We're all thinking about the cost of compute, the cost of energy if you put those AI data centers in the next two to three years. He's saying more broadly, space is the cheapest place to put AI in due to three years. It's interesting the FT's just been sending a headline talking about in your Must, SpaceX lining up four banks from IPO.
So we're all in on the space story right now.
And he was asked what inspires you, and he said, when he was a kid, he read science fiction books. So if you're a kid out there watching and you want to be the next Zelond Musk, that's what you've got to do. We're also tracking and looking at live images of Blue Origin's New Shepherd n S thirty eight latest mission. We're on a hold right now. The window had been due to open eleven am Eastern time, eight am here on the West coast for NS thirty eight.
By this point, ninety people have gone up on Blue Origin, but they're on a hold, a technical hold. We'll keep tracking it, but you can watch the launch on live go on the Bloomberg terminal carry. There is a lot going on in financial markets too, there are.
And more broadly, we're seeing a bit more optimism come to life in the markets. Look the geopolitical angst put to one side and the optimism returning about all things AI. At one point, we're thinking the narrative is all around in video and Jensen Wang being bullish once again on the trillion dollars of spending that's going to be going into the idea of AI data centers, the need for But we've also got earnings on deck later today. This
is something you're going to be digging into. At the moment, lawstacks up six tens percent. But look, we're in the green across the board when you're looking at every benchmark across the entire world.
Head I'm taking a look at Intel because Intel posts after market and even though the chip maker is still in battled. The stock has been on a hell of a run of late, you know, on the week up almost fifteen percent, on track for its best week I think in quite a long time. But right now we're treading water. Of course we are, why because we'll wait and see actually the meat of what comes out of that earnings print again, which is after the market close
around four pm Eastern time. Carry there are many news stories as well.
There are in the private markets too. And guess what open ayes fundraising. We knew that, but the CEO of sam Altman has been really busy traveling in the Middle East. He's been meeting with top investors in an effort really to secure funding from an investment round that could total get this fifty billion dollars, it's according to sources in meerg suring KAfari joining us to cover the story. I mean, the valuations are gargantuan. We're thinking up to eight hundred
and thirty billion dollars as where it could be. But the focus on the Middle East perhaps unsurprising for these foundation AI labs.
That's right, when you think about the pools of capital that are required for these kinds of mega fundraising rounds. You're tapping beyond the usual network of Silicon Valley vcs or even New York finance firms, right, and so that's why you see CEOs like zam Altment traveling to places like Abu Dhabi to court investors.
Sharen, you know, we have tried to track this as closely as possible. I think one of the things reading the report is the detail of what we know about how Sam Altman operates, the travel, who he meets with, the specific names behind the sovereign wealth funds, and the jurisdictions.
He's going to give us.
All the detail you can give us a good insight in what he's trying to pull off.
I mean, if you think about it, this is a time when there is great interest in the Middle East and other regions tapping into the AI boom. There are also other companies fundraising. We know Anthropic is also you know, set to finalize around very soon as we've reported, you know, SpaceX maybe going IPO, but in the past they've also been fundraising. So we have you know, a limited even when you get to these larger pools of capital that extend beyond the US's ability in terms of ec firms.
You're still a limit to how much these sovereign wealth funds can give. So it requires travel, requires relationships, right, It requires going out and actually meeting people, shaking hands and hopefully securing a deal.
This is a big deal what we're hearing right, just to recap fifty billion dollar target raise, seven hundred and fifty billion to eight hundred and thirty billion dollar valuation. A lot of eyes on it, Bloomberg Sheren Gafari leaving the team that's been reporting and tracking it.
Apple.
It's set to Revampsari later this year, turning the digital assistant into the company's first AI chatbot the future is set to be integrated into Apple's lineup of iPhones, iPads, mac operating systems. Consumer tech editor Mark gum And broke the details. You join us now, Mark, It's interesting how much they're depending on Google technology potentially on their servers as well.
But this is quite a move to be going to the chatbot form.
This is a blockbuster move for Apple for the last several months, even in light of the new sery being delayed and not launching on time a year and a half ago, Even in light of the box launch and the delayed Apple Intelligence. Apple was steadfast and saying that it doesn't believe in the chatbot route that OpenAI is taking, the chat GPT that Google's taking with Gemini, that Microsoft is taken with Copilot. But everyone who's used these chatbots to know that this is at the very center of
the generative AI battleground. Chat GPT is nearing a billion monthly active users right It's clearly resonating, and so Apple knows it needs to go in this direction, and it's doing exactly what it needs to do to make its consumers happy and to keep selling its devices and keeping
its operating system in line with the future. So at the end of this year, they're going to Vampserie into a chatbot, and it's going to be far more capable than what you're seeing from chatbots today, having those features, having web search, but also having deep ties into Apple's devices allowing you to control specific apps and features.
It's interesting to see the shares up about nine tens percent after the reporting, and when I read the report, it's clear Siri will be fundamentally different. But is this a direct result mark of that agreement that Apple reached with Google for Gemini to underpin this next gen of series.
That kind of what the unlock has been.
That has been the unlock for them to bring this to market. This is a concept that they've had for a while now, using their internal models that they've built for Syrian Apple Intelligence a couple of years ago. But based on all the delays and based on all the issues the companies had, it would have been impossible to launch that with their internal models because it just wouldn't work well, it would be subpar, and they would have crisis round two.
For their AI strategy.
So yes, as you said, partnering with Google for Gemini has been the unlock to actually bring this to market. Now,
there are some important details here. There is a new version of Serie launching in the coming months in the first half of this year, likely around March of April, that brings to market features they announced two years ago in twenty twenty four at their Developer conference, the assistant being able to tap into personal data, being able to know what's on your screen, precise control of applications in the operating system, and to do that, they're using a
custom Gemini model that mixes with their internal models, runs in the cloud on Apple servers.
But this chatbot is so powerful.
And needs to have as much functionality as possible to really compete with open ai and what Google Microsoft offered today.
So what they're.
Discussing doing is actually running this Gemini model on Google's cloud platform services as well as on Google TPUs, which is a big sea change for what Apple is doing currently with Gemini.
Yeah, we've talked about the TPU unlock as well. Bluemos Mark Gunman backstrong with a big scoop, Thank you very much. Let's tend to chips that power ai. Ali Baba is preparing to ipo it's chip making tahead. Bloomberg's executive editor for Tech leading the Asia, Tmpter Elstrom joins us, Now, this is interesting. It's kind of a TUFA. We know from our reporting they're planning to ipo this unit, but in the interim they're also going to restructure it.
What do we need to know?
Yeah, that's right.
It's a two step process that Ali Baba is looking at here. They're going to begin by restructuring the ownership of the company, allowing employees to own some of the shares here, and then later on they plan on taking it public. Now, This is an interesting move by Ali Baba. Ali Baba, course is an e commerce company at its core, it's been diversifying into a number of different areas, including AI.
They have one of the leading AI models in China with its Gwen platform, and they've been working on this chip effort too. It's a bit like Amazon's push into being able to develop their own AI chips and Google's you talked about the TPUs. It's an interesting strategic move by Ali Baba because they're deciding that they do want to go ahead and spin off that chip unit. See if they can give it some independence, give it some give some ownership to the employees so that they have
a motivation to be able to competitive. But then they have a very big market to address here, and they have some very significant competitors in China and of course beyond shan It too.
More threats technologies just listed camera con technologies briefly.
Peter.
The context of the support from China on.
This, well, this is a national policy, as we've talked about a number of times before the US is cut off in Vidia from selling its most advanced chips into China. In Beijing, that's seen as a very serious threat. They want to have some domestic alternatives to that. So they have a number of domestic players that are coming on strong wilways leading the way. Camera Con is probably second. Camera Con is unknown in the West, really, but it's
eighty billion dollar company. They're doing quite well. And so companies like Ali Baba and more Threads and some of the other small players see a golden opportunity here. If they can develop the technology for these AI chips, they're going to have a very vibrant domestic market.
I do also looking at doing something similar Peter Elstrom great breakdown.
We thank you.
The idea that China is behind in AI is a fairy tale. Those are the words from Alfa Mench, CEO of Miestrow, AI, Europe's only large language model player. He spoke with Bloomberg's Gumana Bassecci in Davos, and he also weighed in on whether European companies stand to benefit from enterprises looking to move away from US providers for geopolitical really reasons.
Listen to this.
It certainly is a growing topic top of mine in the CEO's mind of enterprises that their dependency to single providers when it comes to digital services might become a problem and is not a great answer to the verlatility that we observed in the world. So it's true in Europe, but it's also true outside of Europe. It's true in the US with Southern accounts, it's true in Canada, it's through in the Southeast Asian region where we will create
a lot as well. So we do see that the technology we've built in the differentiation of it, which is that you can customize and deploy wherever you want, is something that does resonate with the geopolitical events.
Yeah.
Well, staying with the geopolitics, one of my colleagues spoke to the Anthropics CEO earlier this week and on China. He thought that the idea of sending advanced chips there, and this is a quote, is crazy and said it's a bit like selling nuclear weapons in North Korea.
What's your view, Well, I.
Think the I don't think this is true.
It turns out that China does very well without Nvidia chips. We've seen China rise on the open source count and we have been at misstyle. Basically the spearhead of open source in the West outside.
Of China is China behind the West.
China is not behind the West. I think this is a this is a itail in the I. They are very much at piety and the year ahead is going to be extremely interesting. Respect we care about Europe maintaining its position, Europe maintaining its ability to train models because we don't think that we should rely on open source Chinese models in very critical applications. So we need to be able to create our own models and to sell them to enterprises. So it's going to be very interesting.
But it's a fairy tale that China is behind.
Let's talk about your own business. Do you have a revenue goal for this year?
Yeah, we do.
We should cross a billion by the end of the year.
Okay, And in terms of CAPEX spending, what are you factoring in?
We are about to do around a billion in cape expanding this year on our endevor Mistile compute, which is what we've done last year, is to start and build our clusters and to feel some of the data centers we're renting with these clusters. The idea being that because we have the hardware with the software platform, because we know how to build the models and the applications on top, combining them.
With the GPUs is a.
Way to get to that integrated stock aicloud services that I compitting with some of the other fully integrated for vetas.
Misterie CEO Arthur mench there along with Bloomberg's Jamana Bassecci. But as we've just heard that, the status of China's AI progress has come up repeatedly at Davos yesterday we heard Google Deep Mind CEO Demis Hasibus say that China was a missed six months behind the West. These comments come as politicians have been more focused, of course, some tensions between the US and Europe, perhaps from than the AI race with China. Let's discuss the airas with China.
Eliza Tobin, imagining director at Gano Global, your expertise is so important you are, and there's a special competitive studies project.
You were also helping with national.
Security at the government level and the China director of their lizas, so are you on the idea that it's a fairy tale that they're behind that actually they are in lockstep with the United States in terms of AI agility and compute power.
Well, good morning, Caroline, is great to be on with you. Yes, So a couple of things can be true. At the same time, China is absolutely going gangbusters in AI on innovation at several layers of the stack. You know, they're doing amazing things in open source models and applications, and of course at the energy level, where America's number one advantage still lies is in computing power at scale. I
think that's widely agreed upon. You know, Jensen Wong in his interview at Davos on Fox was acknowledging this when he was talking about the demand constraints that he's facing and how these this uh, you know, the just growing demand for a limited supply of these AI chips is actually growing right now. And so that's why it's somewhat ironic.
And unfortunately let me let me just jump in here, sure, Liz, let me jump in. Jensen Wong may have said that in that interview, but Jensen Wan has got a vested interest to drive the sales of what is the world's most valuable company in a market he said is a
potential fifty billion dollar market. Right What he doesn't address is the concern of those that basically don't think the balance is right exporting some deprecated technology still being a national security risk in part because it allows China to catch up, which is the debate of dabos with having Have they got that balance right to your mind?
No, the current policy in the United States doesn't they are. The policy to license H two hundred chips to China is giving them a lifeline right where they.
Need it most.
You know, the compute advantage that the United States has was poised to grow exponentially if the controls stay in place. But President Trump and Jensen Wong, for the reasons you suggest in video, wants a foothold in the China market. What's ironic, of course, is that now Shi Jinping is waffling about whether he's even going to let his companies buy many of these H two hundred chips because he wants to make sure that much of the demand is going to the domestic chip makers.
What's interesting is many would say, we need all of technology across the world built on underlying US chips, and that's the argument to keep them going into China. Liza, do you have much credence to that? Are you more looking at Representative Brian Mast You're saying basically that Jensen Wang has paid you and your paid minions, he says, are fighting to sell millions of advans Ai chips to Chinese military companies like Alic, Barbar and Tencent.
Yeah, it's interesting that Jensen Wang is trying to shift the narrative away from the military aspects of AI.
Of course, these chips.
Are inherently dual use in China has a military civil fusion system in place where you can't guarantee that once these chips get into China that they won't make them available for military use. That's just a fantasy that we can sort of control that. And so, but you see that thatnarrative of these things potentially being used for military or intelligence uses is inconvenient, so and Huang is trying to kind of pivot away from that.
Liza Tobin of Ghano Global, thank you. These are live pictures West Texas, Van Horn and Blue Origins Launchpad New Shepherd thirty eight.
Let's listen in. We're braced for lift off.
Fie for commander Sorry two one zero, Hi.
Father you.
Careful person eleven thousand feet.
All right, New Shepherd of Pets. Take a look on your screen on the left hand side of the screen. You'll be able to follow along with our telemetry giving you altom code and speed, and then on the bottom right hand side of the screen you'll be able to see how far we are in S thirty eighth flight.
Okay, you are watching live images of Blue Orangins NS thirty eight New Shepherd mission carrying the six latest astronauts commercial passengers to just above the Carmen line out of Van Horn, West, Texas. We've just hit max Q, the moment of maximum aerodynamic pressure or stress on that vehicle. The Blue Origin New Shepherd design relies on its own B three pm engine, where the propellant is a mix of hydrogen and oxygen, the byproduct of which is water.
For those chemistry nerds of you that are out there and Carrow, you know, we cover this because it is the evidence of the development of commercial space. You have six people on board, some of them have paid for the privilege. We don't know how much because they don't disclose it, just for sixty seconds of weightlessness in space in what Blue Origin says are the biggest windows to ever go into space.
And by now this is almost becoming regular and ninety humans above the Carmen line have been flown by Blue Origin.
Thus fur right, so we're.
Starting to see the cadence build up and where does that push Blue Origin in terms of its next steps in commercialization.
Again, Blue Origin is a multifaceted business. So what you're watching on your screen now, as the combined vehicle makes its way up to that Carmon line, you have the third stage booster and then the caps you're on top. This is space tourism essentially, right. They will also argue that it provides a zero gravity environment even for sixty seconds to do scientific experimentation. But the news last night Blue Origin is also working on a starlink competitor, right,
satellite based and consolation based connectivity. Then they have a more powerful rocket, new Glen, which is used for a wide range of commercial applications. But putting satellite deployment into low Earth orbit, we're about three minutes into this mission.
We expect that the separation.
To happen imminently, and then what you have is that three minute, thirty seconds mark Carrow. Those six passengers goes to the Carmen line, which is the kind of recognized boundary of space where they'll get out, undo their seat belts and float around looking out of the window. And again some of them paid hundreds of thousands. We don't have a specific number for the privilege of doing that.
Yeah, and some of the names might be known to many Tim Drexler, for example, but a lot of entrepreneurial names, some obstetricians or in there.
But we've got T.
Drexel, Lilinda Edwards, Alane Fernanand's, for example, among the six that are currently in that capsule.
And there was a slight delay to it.
We understand that there wasnown unauthorized personnel and the line of the rocket as to why it was pushed back that little.
Bit on the day.
But talk us through the risks of any of what has become standardized practice.
Every launch that involves human payload, humans on board is a risk. The hold on this case, the delay, if you like, was because of unauthorized personnel on range, but that is a very wide radius. You have to control both the eight airspace and on the ground subject to itar restrictions because it's a rocket. At the end of the day. The view that you're looking at is just
switch right. So you can see those two white dots if you squint and you look very closely, one is the capsule and one is the booster there's kind of
rapidly coming back down to Earth. And what will happen very very soon, because we're at the four minutes thirty second mark, is those inside the capsule, the six of them, will get a one minute warning where they've been through this training process where they'll buckle themselves back in, and then it's good old fashioned rocket science where the flat bottom of the capsule and Earth's gravitational pool brings it back down into Earth's atmosphere and we can kind of go from that.
And we can continue this is like a ten minute process and we're already as you say, at the halfway point ed. We can go to Lolngrush, who helps cover all things space across our network and platforms for us, and this seems to be going all according to plan as we think. But space very much in line of sight of investors at the moment, but also of the market.
Well broadly, we're thinking.
About Elon Musk's just come off stage over at Davos talking about how his reusable giant rocket might be there by the end of this year in terms of re usability.
Yes, that is the ultimate goal of Starship, which they've been pursuing for some time for reusability. You know, actually the New Shepherd is a fully reusable system, but it obviously does not go to orbit, and so Starship is really trying to accomplish a feat that no one has been able to before. And Elon just said that they hope to get to full reusability sometime this year. That would be a major accomplishment if they can make it happen.
And we'll obviously be keeping an eye out on those Starship test flights, which are always so fun, but yeah, that will be a big moment if they can make it happen.
We got Bloomberg's Lauren Grass, she leads our coverage on space, and on the left hand side of your screen, we've got the downward camera on the New Shepherd booster as it returns down to Earth for about six minutes in Lauren, booster descending, and then the capsule when any second will start descending by the way, peeking at like four to
five G on the way around. Karen and I were talking about how we carry this right because it's an expensive endeavor for space tourism, but Blue origins business as we see that that booster coming down is multifaceted what's the big priority for Blue right now.
Well, it actually comes at a really interesting time. They just announced the third upcoming flight for their New Glen rocket. That's their much larger orbital rocket that they've launched twice now and successfully landed on a barge on that second flight. Now, New Glen is not fully reusable the second stage, the upper portion of the rocket does not come back, but they were able to achieve that partial reusability with the second flight. So they're really getting into full swing with
their launch business. And so hopefully just as these new Shepherd flights are becoming routine, new Glenn flights will become routine as well.
And we have at this moment the booster landing. Will see if they note it successfully it's seven minute, ten second mark. It's going to make for a beautiful picture. It just took us through the complex nature of a boosta landing.
Well, booster fools three fall through the air using air resistance physics.
Then it ignites that B.
Three and smoothly touches down a little needle in the haystat landing a pin in the middle of the West Texas desert.
Kind of moment character, isn't it?
Just so there we are boost a touchdown is hit at the moment we're t plus seven thirty nine forty let's call it capsule reacquired comes at eight minutes, Lauren. And all of this is being remind us financed how people are obviously paying their way to a certain extent, and we don't know exactly who, but this is still VC backed very much the endeavor of Amazon founder Jeff Bezos.
Right, I mean, as you mentioned before, passengers plate pay some undisclosed sum to fly on these these flights. But yes, I mean Blue Origin is by far very big passion of Jeff Bezos, and he has been primarily the funder of the endeavor for some time now. Obviously, the goal is to move away from that system, to have more and more customers, and to eventually become a profitable business. You know, that will either that's through satellite contracts, launch contracts.
Things like that.
And then also Blue Origin just announced a new mega constellation to be a competitor to Starlink, so they have a lot of different revenue streams coming in hopefully soon, Lauren.
We just saw the drogue shoots and then the main shoots deploy on the New Shepherd capsule on its way down. Now it's chill, you're just floating and by the time you boost a landing speed like six miles per hour. So we will wait for that over the course of the next two minutes to ensure that the capsule lands safely. You just talked about the business of consolation based satellite. We talked earlier in the conversation about Blue Origins efforts
that news last night. We also are trying to keep on top of Elon Musk's appearance at Davos, which you and I were both tuned in for. Right He did talk about starship and some of the broader kind of academic questions around space based data center as best you can just give us a summary of that while we await the Blue Origin capsule touching down.
Sure, so, as Elon indicated, he's a very big fan of solar power. One of the justifications for moving data centers into space is depending on where you put them, you can have this constant access to solar power, which, as people who know much about AI and the data center industry here on Earth, power constraints can actually be
a huge limiting factor. So moving to space, the likes of Elon and other billionaires, even Jeff Bezos have talked about perhaps, you know, tapping into that solar power to get near constant access to sunlight that can then power these data centers that do all this complex computing.
Yeah, we heard Musks saying really in the next two to three years, space is going to be the cheapest place to put AI.
And there, look, we have the landing touchdown chill ed as you called it. It looks like quite a lot of dust being blown up.
If you're going up at three g's and you're coming down at four to five d's, but the moment you touch the ground is just like a little then that's what I meant by chill. But again we talked about this being routine and sorry to interrupt, Carr. You will wait for confirmation from Blue but as it stands, you know, another successful mission.
It is seemingly successful.
We'll check in on those succes astronauts as they're known, and what the common line touching and the zero gravity feel was like for each individual. Lauren, We though always come back on Bloomberg to the financing of this and we all wait potentially twenty twenty six an enormous IPO of SpaceX as well.
That must be something you're tuned in for.
Oh.
Absolutely.
I think the entire space industry is kind of on.
Pins and needles awaiting.
How this IPO will play out. And obviously, as we mentioned, one of the big fueling the things fueling the IPO is this concept of raising capital capital for space data centers. So I think it'll have a very sizable impact on the entire space industry, not just SpaceX. I've spoken to a number of experts who think that this will open the door for even more investment in the space industry,
which is sometimes cannsidered, very niche. So I think even the competitors of SpaceX are probably pretty excited to see how this plays out.
We're going to move away from West Texas, and when Blue Origin confirms all as well, we'll bring it to the audience and go back to Elon Musk at Davos and let's listen to some of what he had to say on stage.
Probably sometime next year. I'd say that by the end of next year, I think would be selling humanoid robots to the public. That's when we are confident that it's very higher liability very high safety and the range of functionality is also very high. You can basically ask if to do anything you'd like.
Well, that was the timeline prediction that moved markets. Tesla Schees rose when Musk said that Musk often misses his own deadlines in the space context, Lauren, that's your domain, Just real quick, What were the kind of timelines that he gave, if any on that part of his business?
Right? So he said, The things that I took note of are the fact that he thinks that space will be the cheapest place for AI data centers to be in the next two to three years. Obviously, I think that might be a very ambitious timeline as well. Jeff Bezos has given a timeline of ten years in order for it to be economically feasible, and I spoke to another expert who mentioned that makes a little bit more sense. And then on the starship front, as we mentioned, he
talked about getting to full reusability sometime this year. Again, that's going to be a very big feat if and when they pull it off. I can't say speak to whether or not they will do it this year, but they've obviously been doing these periodic test flights of starship in order to reach that goal, and so either way, it should be very exciting to watch as they incrementally get closer to that development.
And Lauren, you'll be along the way for us as always, guiding absolutely show and across platform.
Thanks you so much.
Blomberg's longrush on all Things space. We're just talking about Elo Musk at Davos. What he said, others have been there too, funny enough. Doc Trace CEO Jill Papelka, and she says that AI has quote democratized cyber attacks and there needs to be a shift towards sophisticated defenses to protect businesses. To play with Brineberg's Francin Laqua on the sidelines of twenty twenty six, Well Economic Forum, take listen.
The threats are becoming more sophisticated, they're becoming more complex. And whereas before we might have thought about being attacker centric and trying to predict what the attacker was going to do.
Next, that's not what dark Trace has ever.
Done, and it's definitely not what we can do moving forward because we can't predict this high velocity, high threat landscape. We know that countries like Japan, for example, they used to have a natural barrier because their language was more complex and people couldn't.
Quite get there.
You know, the cyber attackers couldn't get their heads around creating an attack in Japanese. But now AI can create those complex, highly sophisticated threats in any language around the world. And so right we're looking at a much higher velocity threat landscape.
So is AI and cybersecurity much more sophisticated than even twelve months?
Oh, of course it's becoming more and more sophisticated. We have the most amazing minds in Cambridge, people who are linguistics majors, people who have majored in the classics. But now looking at how is this AI challenged for us? How do we protect the world against it?
So, after a dark TRACE's acquisition by Thomas Bravo and the shift to operating privately, how has that changed your focus and investment strategy?
You know, dark Trace was already changing and so the transition into private equity ownership really was it that big a deal for us? We were continuing on our path
of innovating and creating the latest and greatest products. We were also working on scaling our business, so we had become really a seven hundred million dollar startup, and then we needed to ensure that our systems and our processes and our talent acquisition and all the different things that big companies do that we were doing those really well.
Also, are the cyber threats coming from government agents or like you know, government entities, or what can you tell us about where the biggest threat is coming from?
You know what's interesting is AI has democratized cyber attacks. It's like it's democratize so many other things, and so it doesn't it doesn't really matter where it's coming from. From a dark Trace perspective, we're going to protect you from a nation state actor, just like we're going to protect you from a Western teenager at his garage, you know, having a heyday with AI that day. So it's not
it's not so much about being attacker centric. What we do want to think about, though, is how we get every anomaly and how we ensure that we're protecting from this.
That was dark Trace CEO Jill Papelco, along with Bloomberg's friend Scene Lacua now coming up, a startup aiming to outperform today's AI accelerators, has attracted one hundred and ten million dollars in Series AID funding. Neurofos CEO Patrick Bowen, an M twelve managing partner Michael Stewart join us.
Next. This is Bloomberg Tech.
Hei chip startup Neurofoss has closed a one hundred and ten million dollar Series A funding round. The company makes an optical processing unit with over a million micron scale optical elements on a single chain. They rely on light to transmit data. It claims this OPU delivers up to one hundred x of the performance and energy efficiency of
current leading GPUs and accelerated cards. Let's get to it, Patrick Burron, you're a FOSS co founder and CEO and Michael Stewart managing partner at M twelve formerly known as Microsoft Venture Fund. Patrick, the devil's in the detail here, the use of light to transmit data instead of electrons. And again I'm not an engineer, but what is this OPU design that you're developing.
It's essentially designed to be a drop in replacement for a GPU, but actually runs fifty to one hundred times both faster and with fifty to one hundred times higher row energy. Of use case in the inference use case, not for training.
That's right, you're an engineer by trade, by background. But then you go to the dark side Aventure capital, Why back this project? You know you're going to tell me that there's a gap, there's a problem being solved for here. There are lots of inference solutions out there, different technological underpinning, but why this one.
Our investment focus is on the data center of the future, and by and large, the industry has committed massive amounts of capital to scaling the technology that we know and understand, and from our investment thesis, our investment aims, we're really looking for what is far beyond the state of the art to disrupt that, particularly towards the end of the decade.
And what Patrick and his team have developed is really it's not just a new technique that's cool because it uses light, but it really delivers demonstrable benefits to the energy needed for the compute and in a way that we think could change the game. So that's something we can underwrite as the fund and we think it could impact Microsoft, but also the industry at large.
Okay, I'm interested in Patrick on the next set of data centers are meant to be being built in space if you're listening to.
Elo mask over at Devils today.
I'm interested as to whether that is something that you think is applicable to your technology and how you think they're going to beating what are quite a lot of competitors out there. There's Light Matter, IA Labs, Runovs for example.
Yeah.
Absolutely.
I think the thing is wherever you go, whether it's in space or it's on Earth, AI is fundamentally hardware limited, and the hardware is fundamentally power limited, right, And the move to space is an attempt to try to solve the power consumption part.
Of the problem.
But wherever you go, even in space, power is still going to be limited, and we're solving that problem at the fundamental physics level.
Are you, Michael, seeing the adoption by well those out there at the moment building the data centers for such new interesting technology, because as you say, this could just be replacing dropped in instead of a GPU. How you seeing that revenue process as you back in with this sort of series A funding.
Well, in the last couple of weeks, the last couple of months actually, we've seen a completed total breakthrough and the acceptance by the leaders in the end Stry the chip industry to use new hardware to address different parts of the inference workload. And you know, that's the last couple of large licensing and hiring deals that we've seen, and I believe that's the beginning. That's that's kind of
like it's like breaking the sound barrier. Need you need those steps to happen on the part of obviously the leaders to pave the way for even more disruptive technology like what Neurofas is developing.
You know, this is an industry that is still dominated by the GPU in video, right, but with the specialist inference platforms. You know, the argument that in Vidia makes is that we give five year visibility on our product roadmap and that's why each generation of Silicon that comes out, you just drop it in. How is this more than a lab experiment right now with neurofos and you can convince that that data center that's not yet planned for, let alone build that that's the best viable option.
Right.
The key is that right now we already have silicon, We have verified solution reel.
It is real.
We have taped out these chips, we've derisked the fundamental physics.
So from here they're Unlike quantum.
Computing, where you still need some more physics miracles to make it happen. There are no more physics miracles in our roadmap from here. It is hard engineering, but it is just engineering to get to market. And so we can build a timeline and an engineering schedule that is tractable and actually can deliver on time.
You know, I'm just trying to understand how difficult this is going to be. Michael Sarah Brass is doing interesting things different technology Grok. You know, when Nvidia took Grok, they were like, well, they didn't have a place in the world. You seem to think that, actually, the underlying technology g OPU does have a.
Place in the world. What evidence would you provide for that.
My background is from the semiconductor industry. I got to say I wasn't sold until I visited the lab and Patrick and their team open Kimono showed me the o selloscopes, showed me the test beds. This is something that can not only work on its own, but it could be integrated with other conventional products that are in the server bill of materials. And again that's the piece I can underwrite. We're not really here in this case to look to
invest in science. Although I'm a scientist, I at least think we should stand behind the technologies that could change the game for the energy needed for inference compute.
Why underwrite Eurofos versus as I said, Li matter I Labs.
I don't want to comment on the other companies other than I've known them and I looked at this. I looked at optical compute very seriously five years ago or so for my prior fund. In fact, I met Patrick at that time, and the concept for neurofoss was a
little bit early. But I think the market conditions that demand the need for new approaches, combined with, like I said, the signals of leaders to be willing to integrate and use this technology in their platforms that are already commercially successful. This is a moving train toward heteroch unius compute and true disruptive technologies making it to market. What neuropos has that again helped us move forward is something I could
see with my eyes that shows that it could work. Now, I'm going to still put the pressure on Patrick to deliver the product on time, which is definitely you know, the job of an entrepreneur.
But to his point, it's not a science.
Risk question as much anymore as engineering and capital. So once again that's where we can bring.
Our fund in and boy is there a need for an unlock on the energy side. Patrick Byne, we thank you so much, CEO of Neurofos and Michael Stewart managing partner an M twelve. Great to have you both on on this funding round.
Intel's down half percentage point, but in reality, Carriacs just treading water head of earnings after the bel it's up fifteen percent in a short US week because of the holiday, and it's up like forty six percent year to day. And whatever it tells us about AI, the reality is right now it's bread and butter business. CPUs is in demand and that's really helping it.
And the PC side of the business.
Many feeling that that's been a growth trajectory for them once again, and we had, of course the discussion around Panther.
Lake and what they've been doing in terms of innovation. The key question is going to.
Be foundry where is that actually going in terms of clear direction. Revenues are likely to fall for this fiscal quarter that they're reporting on it by six percent. Is only growth come the second half of twenty twenty six, right, Yeah.
And probably some updates on lit Bu Tan the CEO, and like what's his relationship like with the president one of his shareholders now the United l States of America.
All right, and these are all good.
Copies of conversation, but we have had a hell of a run up before the earnings actually hit.
Yeah, so maybe a bit of digestion just before they come out. But digest more of this edition of Bloomberg Tech.
It's over for now, but end the podcast.
Yeah, check out the pod.
Astonishing episode to be frank, I mean, lots of recap.
You know where to find it.
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This is Bloomberg Tech.