Dell World Conference, Nvidia Earnings Preview

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From Mahart where Innovation, money and power collne in Silicon Valley, NBN.

This is Bloomberg Technology with Caroline Hyde and Ed Ludlow.

I'm Karen Hyde, Bloomberg's World Headquarters in New York, Blamed Ludlow Live from Dell Technologies World in Las Vegas.

This is Bloomberg Technology, and.

We will have full coverage from Las Vegas with Edge as he gears up to speak for the CEOs of Dell Service.

Now and of Video.

Plus we'll hone in on in Video and get a preview of what to expect from their earnings out later in the week. New or Grayscale CEO Michael Sonnershein's departing the company after three years at the helm Us.

That and so much more throughout this hour.

But a quick check on the macro as we see record high after record high across those benchmarks, whether it's the Nasdaq, whether or not see s P five hundred, the Dow, the All Country World Index, all Power higher. On the fact that we're still seeing perhaps that geopolitical risk of course, a fatal crash happening with a helicopter in Iran not enough to take away some of the overall focus. That is, of course, a macro policy, a federal reserve that can potentially cut rates into the second

That's interesting. We're seeing a little bit of sell off coming in the bond market.

Yields just pushing up, call it one or two basis points, but really some quietness as we have just a lot of Fed speak to digest this week. I'm looking at copper also, at a record high metals gold copper really maybe a bit of a conundrum when it comes to inflatory pressures though for the Federal Reserve to currently digest, but nevertheless record highs over in commodities face too. Move on what's happening in the world of crypto. We're seeing

After a more than five hundred percent.

Rally since the beginning of twenty twenty three, Dell just under pressure some four tens percent. Interesting that JP Morgan is actually saying, also look to buy into this stock ahead of its earnings coming later on May.

The very last day, it seems one hundred and forty eight.

Well, the price target for JP Morgan moves up to one hundred and fifty five.

We want to talk more about these stocks.

We want to talk more about the focus of artificial intelligence for both del for in Video, for many over into Dell World conference now it is just kicking off in Las Vegas.

Ed you are there and you've got a special guest.

Yeah.

And by the way, the relationship between those two companies, it's such a big part of the AI infrastructure build out that we're seeing. So let's kick off our coverage of Dell Tech World and bringing off the Lewis He's the president of Dell's Infrastructure Solutions Group. And the reality is that we can talk about generative AI all day long, but that is what we're talking about still, the infrastructure play. This is a big event for lots of reasons. Set

Well, first of all, thank you for having me here. It's great to be here.

You know, we're excited to be here with ten thousand of our closest friends, customers, partners, press and analysts to talk about all the great things that you know we're working on. You know, there's no question that we're living in one of the most interesting times in human history.

And so you're going to hear from.

A lot of great partners stories around the acceleration of their generative AI. They're going to hear from companies like Service Now, companies like Samsung. They're going to hear about our partnerships with companies like Nvidio, Broadcom, Intel, Microsoft, This is going to be a very exciting action pack show.

Let's talk about AI factory. So in March, Delle said, we are trying to simplify your investments in artificial intelligence. So we bring you the AI factory. What is an AI factory?

All right?

So you know, artificial intelligence is very challenging given the rapid rate of an innovation that we see in this space, and so we take a very consultative approach and in terms of how we built out our factories. You know what customers are looking for is hey, I really need help on the use case I'm targeting. I really need help on how I do my model selection. I need help on how I do data prep, on my architecture, on my infrastructure.

And so we bring that strategy to bear in.

Our factory, which is a combination of our infrastructure, compute, networking, and storage, all engineered and optimized under one roof. Are build out of the partner ecosystem. You're going to hear from great companies like Hugging Face and Meta, the partnerships that we have there and our professional and consulting services which really help customers accelerate their deployment of artificial intelligence.

I think the big pest question that we're going to have throughout the days is who is the buyer of AI factories?

Right? The story thus far has.

Been Nvidia selling AI accelerators or high performance GPUs to the hyperscalers and Meta. Basically Dell's history in its sales channels that have been different. Right, you sell to SMEs, you sell to governments? Are they the buyers of the AI factory?

And in what form? I mean, what are we literally talking about here?

Yeah?

And you know, like I said, this is one of the most interesting times in human history. You know a lot of people say we're in the early innings of a baseball game, but I.

Like to say that we're actually just.

Pulling into this stadium and the game hasn't even started. A lot of the hype has really been around the cloud service providers and building out large training clusters. But you know, the enterprise is definitely doing a lot of pocs. What they're looking for is to deploy AI the right way.

The Power Edge ninety six eighty is the basically fastest selling Dell product or first or fastest to one billion dollars, which was an exciting headline, right, But what drove that? Why was it so fast selling relative to your server history which is rich.

Yeah, so again we leveraged.

Like we like to say, our innovation engine is firing on all cylinders.

We run the engine extremely hot.

And you know, the ninety six eighty is differentiated in the marketplace for several reasons. It's the densest six U chassis that exists in the industry, and it's one chassis to support a bunch of silicon diversity. So GPUs from Nvidia, from AMD, from GUDI all in the same design, so we have consistent rack scale design for operational simplicity. We've worked hard on our networking capabilities to offer Ethernet and

For how are you using generative aiols at home at work?

Talk to me about how you use them.

Yeah, So we're focused on four use cases right now on you.

You as a human, as an executive, as a person.

Well, I've been using it obviously, Meta has you know some great generative AI.

I've been using it with the.

Family, on Instagram, on Facebook, on WhatsApp, on messenger. You know, the innovation in this space is happening so rapidly. It's again, it's one of the most interesting time in human industries, and I'm just lucky to be part of it.

You said something interesting a moment ago, which is about the server design accommodate for different GPUs. It's GPU agnostic in many ways, and everyone keeps telling me that choice matters, you know, the ability to use different AI accelerators. But in video is still you know, a clear leader in this market. Your job is to have really clear interaction with public and private sector customers. How micro focus today on Nvidia versus an AMD or an Intel in the conversations that you have.

Look, customers are looking for a drusted advisor, and that's who we are. We understand this landscape better than anybody out there. We understand the compute, we understand the network, we understand the storage, we understand the ecosystem.

We understand all of the services.

Our jobs to go in really understand what the customer is looking to accomplish and provide the best solution for the customer.

Are the Lewis, who is president of the Infrastructure Solutions Group RIGS is more commonly known a Dell. Thank you for kicking off Dell technology as well with us live here in Las Vegas, Caroline.

What a great conversation, such a great way to warm us up as we think about the infrastructure build out and indeed the way in which every executive's using this powerful technology.

The last of.

The so called Magnificent seven stocks reporting Wednesday in video, and boy is it important to the overall stock market. It's a make or break moment really in entirety? Is it is what the third major player when it comes to the Nasdaq one hundred in terms of market capitalization. And look, we want to see how much there is a commitment to AI chips, to infrastructure build out, to buying the company's products. Joining us now for a preview

Again for a company, how can we live up to it?

Yeah, I mean, look, there has been no lack of demand validating signals throughout this last quarter. Its largest customer, cloud providers, hyperscalers have all increased their outlook for.

Their CAPEX spending in AI this year.

It's supplier, the biggest supplier at t SMC has given really positive commentary about AI demand continuing for the rest of the year. When you look, there's a couple of other tailwinds as in so and entities and other regions outside of the US government entities increasing their spending in AI. So across the board, we see significant, strong, real demand signals coming in for the company, and we feel really good about them coming in this solid beat and this.

Sprint supply as well going to be equally strong, because that seems to have been the limitation really for the story of Nvidia.

Yeah, I mean, look, supply has been coming on significantly each quarter, and that's what we expect definitely. You know, as so far they have executed really well without any big miss I would say in terms of supply coming on to the numbers at least what the street has so at this point, we don't see significant risks. Look again, this water we saw h one hundredly times their use

If one other supply change sees any issues.

Let's talk to geopolitics as well, because you focus in on the incredibly powerful chips and overall architecture being on offer. But China, for example, big customer, and it doesn't want or at least it can't have the most powerful chips that in video produces.

Yeah, I mean, look, I think in the near term the geopolitical is in a way I don't want to say directly, but could be a positive. Yes, the China regional preferences not to use in media chips, but I mean you still think about the customers in China.

They would still if.

They can, want to use in Vidia chips because they're the best out there. So we could see, we could anticipate to see some sort of a pull in in in fear of more restrictions coming either from China or the US, So that could sort of pull in the demand a little bit earlier and help in media in the near next few quarters.

What's interesting is we had an AI cow computing startup on the show on Friday Core.

We've raising a.

Ton of money, but it's mainly working within video here and the CEO telling us that everyone wants an in video chip. Yes you can talk about MD, Yes you can talk about some of the competitors in the market, but ultimately that's where the demand is. Do you agree, is that anyone who's starting to show the competition angle able to muscle in on some of the market share?

I mean, like you name it.

AMD is sort of the only other real viable merchant GPU silicon provider right now, but Nvidia still has the lion shared and we don't see that changing significantly this year or.

Next fiscal year.

What has been, of course, what are the key bottlenecks for many in terms of the overall power of generative AI has been energy and it's been supply side to chips. How much is that something we're likely to hear discussed on the call analyst consideration that really this is now the one that needs fixing ultimately, the impact on the environment or indeed impact on the cost of energy.

I mean, it has become a rising concern across the board.

I don't think we'll hear a lot about that in inn Media calls specific I think we hear a lot about in its customers calls.

To be honest at this point, because.

Even if a real magnitude increase in power, every generation of in Media chips, their total TCO continues to get better and the efficiency continues to get better.

We thank you.

It's going to be a busy week for you. Conjiin Servanni on the show from Botomberg Intelligence. All eyes on in video and its settings later in the week. But coming up, we've got to focus on what's happening in the here and now. It's Tesla ploys in Limbo still a says, job cuts loom over at the company. We'll discuss really the details of the anxiety that's still gripping the electric carmaker's workforce.

That's next.

This is Glomod Technology.

Time now for talking tech. First up, open AI.

It's working to hold the use of the voice known as sky in its audible version of chatchoopt after users have noticed it sounds remarkably similar to actress Scarlett youj Hansson. Now in a blog post, open Ai said the voice one of five available, Remember, wasn't chosen to be an imitation of the Hollywood actress, and the voices are a new feature, of course of chatchoop PT, introduced in GBT four to O, which debuted.

Earlier in the month. We'll have so much more on the story later in the show.

Meanwhile, cyber Arc Software has agreed to buy cybersecurity firm Vinaffi for a one and a half billion dollars in cash and stock.

Ven After You Act by pe Fern Toma Bravo.

Focuses on machine identity management, the clients ranging from the US health insurers to airlines to card issuers and banks now. According to cyber Arp, the acquisition is expected to close in the second half.

Of twenty twenty four.

It's going to add one hundred and fifty million dollars in an annual recurring revenue. Phlust by dance it overtakes buydo for Ai Chapbot dominance released in August. Downloads of the chappot Dobo surpassed its rivals and now have more regular monthly users in iOS in China now. That is

And shares a keyword.

Studios rose the most since when public in twenty thirteen after the company disclosed that is in advanced takeover talk to the EQUT Group and could value the company in over two and a half billion dollars now. The Dublin based studio provides game development, audio art services to the gaming industry, and it's worked on titles including Fortnite and

When they might be cut next joining us.

The regular down in the latest news is re makes Crape Trudel and Greg I can only imagine how anxiety inducing it is to just be waiting for that letter, that email.

Yeah, and it is a case that this is just you know, sort of a week to week thing, day to day thing for employees of you just don't know when sort of that tap on the shoulder or in the case of Tesla, the as we put it in the story today, the dear employee email. You know, employees getting these messages that don't address them by name, that you know, reveal that they are leaving the company, that

I mean, morale must be taking a hit, Craig, and I'm interested. And also the confusion that has rained around the Supercharge team, for example, the fact that that was acted and then seemingly brought back in some sort of guys, how committed to overall job cuts does a company seem to be.

I think that particular aspect of these job cuts has been really disruptive and also just you know, really raised a lot of questions about what the heck is going on here because it is kind of a crown jewel within the company. It may or may not have been necessarily making a ton of money for the company directly, but the fact that they were able to offer such a superior charging ex experience to other charging networks and even able to get you know, the rest of the

Let's play Devil's advocate and try and focus in who's still passionate, who's still working, who's still infused to be building over at Tesla because it is still for many a completely earth altering kind of a business to be playing a part in.

Is anyone still feeling galvanized?

I think Musk is actually interestingly trying to push that just in the last few days on X. You know, he's engaging with people who are sort of, you know, calling out the idea that the media was predicting Twitter's demise, you know, when he came into that company and slash its workforce, and a lot of his you know fans on there kind of you know speaking to this idea of oh, you know, everything's fine, nothing has gone wrong.

Yeah, taking to LinkedIn to really talk about how painful this is as an individual, how this affect your family and your mental health.

Let's just think about whether it affects.

Demand, though, Craig, because for many this does impact the brand.

Yeah, and I think there's a very interesting question about, you know, whether or not the company is able to execute in spite of all this. We you know, within this story speak to this idea that you know, the sales staff is being affected. There were some workers that you know, flag the idea that, you know, because they

Rikib and I always looking for the data. Crodradelle, thank you for the insights. It's a great read. Welcome back to Blue Meg Technology. I'm Carolyn Hide in New York, and we're getting you a check on these markets which are macro fueled in many ways. We are still digesting

And that's that one hundred up six ten percent, record high, record high, not record high.

We're at a record high when it comes to all country world In next we're seeing powering higher across the world, up three tenths of a percent. Sure, Europe as it closes is not on a record high for the stock six hundred, but certainly the SMP, the NASDAC and indeed the dower all at record highs today. I'm looking at Bitcoin up one point percent, the moon music is positive despite still some of those geopolitical risks.

Let's move on and look at some of the individual companies that we're shining a light on.

Because Tesla off by one point seven percent, we were just hearing some of the concerns around ongoing hit to morale and of course job cuts still being tested and executed. Over at the business, we're looking at what's happening though with Wigs twenty one percent. Look, earnings is still happening. This is a web platform company. It's best days since March twenty twenty as it manages to blow away in terms of analyst expectations and also raises it's fully of forecasts.

Tensions when it comes to China.

Let's dig into in Nvidia, into AI, how we're using it in our world, in our life. Every in Las Vegas, because it's Dell's World conference, we await the news coming from Dell's CEO keynote speech later to ed you are over there and you've got a key guest.

Yeah, we have a key guest, and that is president and prison analyst at Creative Strategies, Caroline A Millionacy. And you have so much experience covering consumer technology, fifteen years of it. If you don't mind me saying, this is actually my first del tech World I'm sure it is not your first. But everyone that I bumped into at the airport on the flight that phoned me last week was like, this is actually very big.

The stakes are very high here.

Also in the enterprise context, Why is that this time around?

Because I don't think that we heard the word enough this morning. So let's say AI is here, and every company is trying to understand how they can rethink their business to take advantage of AI, and because of that they need a good partner.

We will talk about AIPC, but you know the story. Frankly with generative AI is Nvidia selling the H one hundred generation AI Accelerator high Performance GPU to the HYPERSCALEISM meta and I don't see much evolution beyond that, do you.

It's like a duck, right, but it is moving and you don't see the feet paddling under the water. And I think that's what the likes of Dell are doing for enterprises is the day to day is out to really take advantage of AI to refining their business, do better productivity, or reach people that they haven't reached before.

And that requires attention on the day to day.

So thinking about the role that Dell can play as a trusted partner and supplier ISRAELI help optimize workloads and take advantage of AI in the right way, whether it is in the cloud or a DG.

And I suppose Jensen Wog and Nvidia, he's not been selling anything at any point in his career to the public sector the micro level. I grew up in a Dell household, which Dell desktops. I broke many of them, playing Age of Empires on cd ROM. When I think AIPC, I keep hearing it's coming. I don't really know in my mind or my heart that I know what an AIPC.

Is, and I think most consumers don't. Right, for me, the really true selling proposition of AIPC is the idea that you're lowering the barrier vent for people to interact with technology. And so because of gener cy AI, everybody can become a power user, taking away the friction that we still have on the PC. Then maybe we don't have any more on their phone.

I don't know that the consumer's ready.

You know, often when a new technology comes to market, it's expensive and it goes down from there, and I wonder, like it is Dell, the OEM or whichever chip maker it is. You know, there are several of them eyeing this space. Maybe do they eat the costs to make it more palatable.

For the consumer to try it out?

You know, I think they're with AI their two parts, right, there's the cost of the hardware, remembers the cost of a service, and so as far as eating their price or the part of their return is both on the Microsoft on copilot as well as it is on the chip maker and OEMs. What is good is that we're seeing, for instance, the likes of Qualcom have a broader set of offering that it's the main market, the mainstream market,

And Karlyn, can you explain to me there for.

Why I need an AI PC or AI at the edge rather than just using an app, the latest pot, the latest chatchipt competitor.

There are a couple of things there, AI working on the actual exchange between you as a consumer.

Or user and the PC and the hardware.

But then there's also, from a privacy perspective, the idea that evving AI on d edge allows you not to send your data to the cloud.

So there's a.

Privacy play, and there's a latency play, and to be honest, there's a costplay that it comes comes in, especially from a services perspective, right that running all these workloads in the cloud is going to be expensive and somebody is going to have to pay for the investment that the vendors are making.

At the moment, it's being sucked up by the hyperscalers and the companies that they're helping offer some of the free access to compute.

Carolina.

I'm interested in particularly your role because I love the turn of phrase that you said everyone can become a power user. When you're using AI, you are quite literally a user of power as well, and you're already focusing on environmental social governance strategies for some of these tech players. Is energy becoming the number one thing that people are starting to.

Talk about one hundred percent? And I think that we need to talk more about it because we hear a lot about AI helping sustainability, but AI comes at a cost as well from a sustainability perspective, and so that intersection between the energy consumption that AI will require and also the benefit that AI will bring in optimizing like the grid as an example, is something that we need to talk more about.

Krolyn Adell is celebrating its fortieth year. This is a really important event. But are they celebrating it in a position of strength in this market?

I think they do.

You know, as a company, they're very well trusted, as I said, by the customers and partners. They have really helped through digital transformations for years. They really did well during COVID helping their customers through a very tough period. And as a company, they have great leadership. I think when you have a founder that is still driving the day to day of a company, the things are different.

Carolina Milanacy Creative Strategies President and principle analyst, and I actually took a lot from that that I think I can carry over into the conversation with Michael Dell, Jensen, Joe and Bill McDermott later today.

Caroline back to you.

In New York, So can I wait for that conversation. It was a great one with Carolina. Meanwhile, coming out, we've got some more conversing to do about Grayscale. The CEO, Michael sonnershein departing the company after helping build it into the world's largest scrypto asset manager.

Details next.

Meanwhile, let's have a quick look at instacart to break There is a big conference going on in Boston as well. The JP Morgan Tech Conference and Instacart. The CFO has been speaking and looks as though Emily Reuter not having the best of implications on the stock. Right now, we're down by more than five percent. They're saying, basically they do not expect to exceed their overall total transaction volume.

So perhaps a little bit of nervousness creeping in there. From New York.

From Las Vegas, this is William bag Technology.

Let's talk about some roles changing.

After helping build gray Scale into the world's largest crypto asset manager, the CEO Michael Sonnenshein is stepping down, joining us with the latest of Blomberg Shnali Bassak an interesting player coming to the four.

To be the CEO.

But in the meanwhile, I mean it just says to pursue other interests.

Why is Michael stepping down?

This was certainly an interesting piece of news. Of course, we know that Michael Sonnshine had helped Grayscale bring the Bitcoin trust into ETF form so it was a surprise here to see him stepping down. According to the Wall Street Journals reporting, we have known that they were looking at gray Scale for a successor a new CEO since the end of last year, so before the ETF was

Because how is ultimately gray Scale managing to fare against the competition. Still is the largest, but it's quite expensive in comparison to some of the other ets.

So it's interesting they're launching new products, so it'll be interesting to see what customers flocked to at the end of the day. Their bet, which paid out at the end, was that even with some attrition, the higher fee structure than some of the newer products here would be worth it for them at the end of the day because

Now this is all about the institutionalization of crypto. There is one key naysayer that remains in the market. That is Jamie Diamond, even if JP Morgan more broadly is looking at the underlying technology and offering various crypto assets.

But we understand Jamie Diamond is currently.

Taking to the stage at his own tech conference happening over in Boston.

It's got a lot to talk about when it comes to tech and AI for example, he sure does.

And today's the company's own investor day that is happening, and of course investors are reading the tea leaves on how JP Morgan will invest moving forward. We just heard from their investment banking heads who said that they're about

It's going to be fascinating. The investigation Investiday upon us. We'll see what he has to say, should not invest side. We thank her for taking us through all the movers and shakers when it comes to well TRADFI and perhaps slightly newer.

Five.

Let's talk about also what's been mentioning around artificial intelligence, and open AI has said it's working to pause the use of the sky voice from as updated GPT four. Oh and that's his users seem to be claiming that it sounded rather too like the actress Scarlet at you're Hansen. Let's bring in blogs, Rachel mets for more, because there is a lot to be digesting when it comes to open ai. As always, Rachel, let's start with perhaps, is this is stunt in some way?

Is this actually moving on real pushback? I mean, at one.

Point we had Sam Altman basically posting saying her we will therefore anticipate in that the voice sounded rather like Scarlett your hadson.

Yeah, I mean so this is one of several voices that they have in chat GBT in the app that they launched last year. And I mean, yeah, you could say it does have a bit of a her sort of voice too. It I mean, it's a friend, it's a friendly sounding, female sounding voice. I th a lot of people when an Opening Eye had its most recent event and a debut its new model started to say that they started to think that it sounded a little

Yeah, and it's worth saying that Open AI says, this isn't Scarling and Hansen. This is a totally different actress that's been based upon. But we all think about that movie where of course someone falls in love with a female artificial intelligence and product, but Rachel. What's also happening

Yeah, there's a work going on there this past week, so the super Alignment team, to be clear, these are people that are thinking about how they would protect people against a superhuman type of AI. This is something that does not exists at this point in time, So let's just be super clear about that that that's what they're working on. Opening I has multiple safety teams. This was one of them and it was announced last year Ilia Seskper and Yan Leek they were the two leaders and

I know they'll continue to report.

I think many feel that well, sometimes they're sucking up all the oxygen in the room where it comes to their products, and sometimes of course the teams who are building it. But Rachel Mets, we thank you for keeping us clean on all things Open AI and what actually is happening from a proper perspective there too.

There it goes.

Yesterday, Jeff Bezos's Blue Origin successfully relaunching its space tourism business sixty miles into the sky.

This flight is Blue Orangin's first tourist.

Mission on New Shepherd since all the way back to August twenty twenty two, turning us to break down why and what they've got right this time? Is Blue most law and grush, and it was put on ice for a while after some technical issues, luckily when there weren't actually traveling tourists on board.

Right, It's a site we haven't seen in a while. It's been a nearly two year hiatus for space tourism missions for Blue Origin, as you mentioned, last one was in August of twenty twenty two, and then the following month in September, they had an issue on one of their flights mid flight. Luckily no one was on board that trip, but they did have an engine failure that caused them to put flights on pause while they figured out what went wrong.

And let's talk about what went wrong and what therefore goes right now, because the aim is to have a bigger rocket. The aim is to not just be doing tourism some sixty miles up right.

So, as Blue Origin investigated, they found there was an issue with an engine nozzle that caused the rocket to veer off course. They spent the majority of last year not launching, trying to figure it out, working with the FA to redesign that nozzle and to put corrective actions in place, and then they ultimately did return to flight in December, but that was also an unproved flight, so this is the first time they actually put people on board. But yes, this is just a small part of Blue

And maybe taking some competition to SpaceX, which really dominates in this field. It's notable that there's another delay Boeing Zone spacecraft being delayed, pushed back to what may twenty fifth now, Yes.

So we are on Starliner watch Boeing Space Taxi. The CST one hundred Starliner, which is meant to transport NASA astronauts to and from the International Space Station, is supposed to be conducting its first crude test flight, so sending two NASA astronauts to the ISS. And unfortunately that launch

And it just reminds us a how difficult this is be, how expensive it is as well. And to that point, what is the ultimate goal, what sort of marketshed GDP of these companies trying to build, create, or just take a chunk out of.

I think it's really just seeing if there is a market for people who want to go to space. I mean, what Blue Origin is doing is slightly different for what Boeing is doing. Boeing has a NASA contract and so they have kind of they're on the hook for sending NASA astronauts to the International Space Station. With Blue Origin, you know, they're basically tapping into this new growing market of whether you know, wealthy tourists going to space and back.

One small nozzle issue, many months on ice Lang Grush always on spacewatch. We thank you so much for it. Meanwhile, we're always on share watch for you. We just want to shine light what's happening with JP Morgan at the moment, Shares under pressure at the moment.

This as well.

We've heard from Jamie Diamond, the CEO. It's the investor day. We're just talk talking about it with Shinelie Bassak. He's sending some declines after Jamie Diamond just talked about how expensive it would be basically to buy back stock, and he's saying he's not going to buy back a lot of stock these prices. His prices dip a bit on

He inspired the Gordon Gecko character in the film Wall Street.

He made a lot of money from inside of trading, and he went to prison for his crimes.

He was eighty seven.