Alphabet Rallies on AI Bet; Yankees Avoid Elimination

Bloomberg Audio Studios, Podcasts, radio News. 0:00:09.760 --> 0:00:10.280 Good morning. 0:00:10.320 --> 0:00:13.160 I'm Nathan Hager and I'm Karen Moscow. Here are the 0:00:13.200 --> 0:00:15.080 stories we're following today, Karen. 0:00:15.080 --> 0:00:17.640 If the futures are any indication this morning, the Nansdack 0:00:17.680 --> 0:00:22.119 could hit another record close today. Alphabet is the main catalyst. 0:00:22.360 --> 0:00:26.960 Those shares are hired by nearly six percent. This morning, 0:00:27.400 --> 0:00:31.440 the Google parent showed its expensive foray into artificial intelligence 0:00:31.800 --> 0:00:34.240 is starting to pay off in earnings that delivered better 0:00:34.280 --> 0:00:37.480 than expected traction for its cloud computing business and drove 0:00:37.560 --> 0:00:41.760 more usage to its flagship search engine. Alphabet Chief executive 0:00:41.800 --> 0:00:45.120 Officer Sun Darpachai talked about the cloud on the company 0:00:45.120 --> 0:00:45.800 conference call. 0:00:46.360 --> 0:00:49.840 I'm very pleased without growth, this business is real momentum 0:00:49.920 --> 0:00:54.920 and the overall opportunity is increasing as customers embraced Jenai. 0:00:55.680 --> 0:00:59.280 We generated Q three revenues of eleven point four billion dollars, 0:01:00.120 --> 0:01:03.440 thirty five percent over last year, with operating margins of 0:01:03.600 --> 0:01:04.480 seventeen percent. 0:01:04.680 --> 0:01:09.800 Alphabet CEO Soon Darpachai says overall revenue and profit exceeded expectations. 0:01:09.880 --> 0:01:13.120 Revenue reached seventy four point six billion dollars. 0:01:13.640 --> 0:01:18.080 Well, Nathan, alphabeta gains this morning pale in comparison to Reddit. 0:01:18.240 --> 0:01:21.480 Those shares are at an all time high, surging twenty 0:01:21.520 --> 0:01:24.560 two and a half percent. The social network operator, which 0:01:24.600 --> 0:01:27.280 when public in March, reported sales and a forecast that 0:01:27.400 --> 0:01:28.679 topped analyst estimates. 0:01:28.959 --> 0:01:31.240 On the flip side here and shares of advanced micro 0:01:31.280 --> 0:01:34.200 devices are tumbling this morning. They're down more than eight percent. 0:01:34.280 --> 0:01:38.240 The chip maker's revenue forecast missed analyst estimates. They say 0:01:38.280 --> 0:01:41.399 it's a sign, am, these artificial intelligence sales are growing 0:01:41.480 --> 0:01:43.280 more slowly than anticipated. 0:01:43.640 --> 0:01:46.360 Well, Nathan will have more on earnings and the markets 0:01:46.440 --> 0:01:48.840 in just a minute, but now let's get you updated 0:01:48.880 --> 0:01:51.760 on the World Series. There will be a Game five 0:01:51.840 --> 0:01:55.520 tonight as the Yankees stay of off elimination Bloomberg. John 0:01:55.560 --> 0:01:58.680 stash Hour is here with the very latest, John, all right. 0:01:58.560 --> 0:02:00.800 Hearing the Yankees. We're face seen in the elimination in 0:02:00.880 --> 0:02:03.960 World Series. Game four began yet again with a first 0:02:04.040 --> 0:02:06.880 inning to run homer by the red hot Dodger Freddie Freeman, 0:02:06.960 --> 0:02:09.560 but the Yanks load of the bases in the third inning. 0:02:09.680 --> 0:02:10.959 Faces loaded two out. 0:02:11.760 --> 0:02:16.480 Crisp Fucker redention. 0:02:18.480 --> 0:02:20.959 Fox Sports to call on Anthony Valpi Grant's lam Yanks 0:02:20.960 --> 0:02:23.480 pulled away. Added home runs by Austin Wells. Labor Torre 0:02:23.600 --> 0:02:25.840 stayed alive with in eleven of four, still trail the 0:02:25.919 --> 0:02:28.520 series three to one. John Stashiewa Bloomberg. 0:02:28.200 --> 0:02:30.679 Sports All right, John, thank you well. John. We'll be 0:02:30.720 --> 0:02:32.800 back with us in a few minutes for more details 0:02:32.880 --> 0:02:36.120 and postgame reaction from Game four the World Series. 0:02:36.480 --> 0:02:39.359 Now, Karen, let's get to the latest from the presidential race. 0:02:39.520 --> 0:02:42.760 Kamala Harris delivered her closing argument against Donald Trump with 0:02:42.880 --> 0:02:45.760 a major speech at Washington, DC's Ellipse. 0:02:46.280 --> 0:02:50.480 We know who Donald Trump is. He is the person 0:02:50.880 --> 0:02:55.280 who stood at this very spot nearly four years ago 0:02:56.160 --> 0:02:59.840 and sent an armed mob to the United States cap 0:03:00.520 --> 0:03:05.000 to overturn the will of the people in a free 0:03:05.200 --> 0:03:06.440 and fair election. 0:03:07.800 --> 0:03:10.320 The vice president cast the race as a choice between 0:03:10.440 --> 0:03:14.120 freedom for every American or chaos and division. She said 0:03:14.200 --> 0:03:16.880 her presidency would be different from President Biden's. 0:03:17.400 --> 0:03:21.359 Our top priority as a nation four years ago was 0:03:21.520 --> 0:03:26.520 to end the pandemic and rescue the economy. Now, our 0:03:26.639 --> 0:03:30.920 biggest challenge is to lower costs, costs that were rising 0:03:31.160 --> 0:03:34.399 even before the pandemic and that are still too high. 0:03:34.800 --> 0:03:38.120 Kamala Harris promised to prosecute price goungers, and she outlined 0:03:38.120 --> 0:03:41.120 her plans for tax breaks for new parents, startup businesses, 0:03:41.200 --> 0:03:44.320 and first time home buyers. The Harris campaign estimates more 0:03:44.360 --> 0:03:46.920 than seventy five thousand people turned out for the speech 0:03:47.080 --> 0:03:48.640 one week before the election. 0:03:49.360 --> 0:03:52.200 Oh Meantime, Nathan Donald Trump held a rally last night 0:03:52.280 --> 0:03:55.280 in Allentown, Pennsylvania, as he continues to face a backlash 0:03:55.320 --> 0:03:58.720 over anti immigrant comments at Madison Square Garden last weekend. 0:03:59.040 --> 0:04:02.040 President Biden's seized on the joke that Puerto Rico is 0:04:02.080 --> 0:04:04.640 a floating island of garbage on a call with Latino 0:04:04.720 --> 0:04:05.600 voters last night. 0:04:06.120 --> 0:04:08.840 Only garbage I see floating down there as his supporters. 0:04:09.480 --> 0:04:14.040 His demonizational scene is unconscionable, and it's on America. 0:04:14.520 --> 0:04:16.280 Former President Trump seized on that. 0:04:16.960 --> 0:04:21.480 Remember Hillary, she said deplorable and then she said irredeemable. 0:04:21.640 --> 0:04:23.000 Right, but she said deplorable. 0:04:23.120 --> 0:04:23.920 That didn't work out. 0:04:24.279 --> 0:04:25.800 Garbage, I think is worse right. 0:04:26.080 --> 0:04:26.800 But he doesn't know. 0:04:26.880 --> 0:04:31.960 You have to please forgive him, Please forgive him, for 0:04:32.200 --> 0:04:33.640 he not knoweth. 0:04:33.680 --> 0:04:34.360 What he said. 0:04:35.000 --> 0:04:37.520 Later, President Biden posted on x that he meant to 0:04:37.560 --> 0:04:41.480 say trump supporters rhetoric was garbage. Later today, the Harris 0:04:41.520 --> 0:04:44.920 campaign will run through the battleground states of North Carolina, Pennsylvania, 0:04:45.000 --> 0:04:48.640 and Wisconsin. Trump has a rally today in Green Bay, Wisconsin, 0:04:48.760 --> 0:04:51.400 featuring legendary Packers quarterback Brett Farv. 0:04:51.880 --> 0:04:54.960 Turning back to markets now, Karen Ubs posted a profit 0:04:55.040 --> 0:04:57.320 of one point four billion dollars in the third quarter, 0:04:57.440 --> 0:05:01.119 nearly double what analysts predicted. The Swiss lenders key wealth 0:05:01.200 --> 0:05:04.880 management unit and its investment bank both outperformed. In an 0:05:04.920 --> 0:05:08.120 interview with Bloomberg, UBS CEO Sergio or Mahdi warned of 0:05:08.240 --> 0:05:11.640 headwinds ranging from the US elections to falling interest income. 0:05:11.920 --> 0:05:14.560 Well, I think that the US election for sure won't 0:05:14.640 --> 0:05:19.280 be uneventful. I think that right now markets the markets 0:05:19.320 --> 0:05:22.040 are pricing a Trump victory and think that if this 0:05:22.240 --> 0:05:24.400 is confirmed in the remains to be seen is a 0:05:24.440 --> 0:05:26.880 classical sale of news event. 0:05:28.040 --> 0:05:31.280 UBS CEO Sergio or Mahdi spoke with Bloomberg's Francy Laqua. 0:05:31.640 --> 0:05:34.600 Switzerland's largest bank is still working through the integration of 0:05:34.680 --> 0:05:37.480 former rival Credit Suites, which it took over last year 0:05:37.720 --> 0:05:39.080 in an emergency rescue. 0:05:39.520 --> 0:05:43.160 Well Nathan, Europe's biggest automaker of Volkswagen, saw its operating 0:05:43.240 --> 0:05:47.240 margin shrink to its lowest since the COVID pandemic. VW's 0:05:47.240 --> 0:05:50.680 earnings could boost management's case for drastic measures. In Germany, 0:05:51.040 --> 0:05:53.480 labor leaders are resisting plans to close at least three 0:05:53.560 --> 0:05:55.520 factories and eliminate thousands of jobs. 0:05:55.800 --> 0:05:57.360 And back here in the US here and there's some 0:05:57.440 --> 0:06:00.520 optimism this morning. At Boeing, efforts have resumed to end 0:06:00.560 --> 0:06:04.760 the planemaker's seven week strike. Acting Labor Secretary Julie Sue 0:06:04.800 --> 0:06:08.880 says both sides held fruitful talks yesterday. The work stoppage 0:06:08.880 --> 0:06:11.720 for more than thirty three thousand union is taking a 0:06:11.839 --> 0:06:14.720 toll on Boeing instead of generating cash. In the fourth quarter, 0:06:15.080 --> 0:06:18.679 the company now expects to burn through around four billion dollars. 0:06:22.320 --> 0:06:23.320 Time now for look at some of. 0:06:23.279 --> 0:06:25.280 The other stories making news in New York and around 0:06:25.320 --> 0:06:27.839 the world. For that, we're joined by Bloomberg's Michael Barr Michael, 0:06:27.839 --> 0:06:28.719 Good morning, Good. 0:06:28.600 --> 0:06:32.000 Morning, Karen. Local and federal officials continue to search for 0:06:32.120 --> 0:06:35.760 a suspect believed to have set to ballot drop boxes 0:06:35.839 --> 0:06:39.640 on fire Monday in Oregon and Washington. Last week. Authorities 0:06:39.680 --> 0:06:43.360 in Phoenix say a number of ballots were damaged when 0:06:43.400 --> 0:06:46.799 a US Post Office collection mailbox was lit on fire. 0:06:47.400 --> 0:06:50.960 This all comes as the FBI and Department of Homeland 0:06:51.000 --> 0:06:55.160 Security warn election related grievances, such as a belief in 0:06:55.320 --> 0:07:00.440 voter fraud, could motivate domestic extremists to engage in violence 0:07:00.760 --> 0:07:05.719 before and after the election. In battleground Arizona, Maricoba County 0:07:05.920 --> 0:07:10.160 Sheriff Russ Skinner says they'll have zero tolerance when it 0:07:10.240 --> 0:07:12.559 comes to criminal activity related to the election. 0:07:12.880 --> 0:07:15.640 It's one thing for First Amendment, one thing to express 0:07:15.680 --> 0:07:20.320 your opinion. It's another when there's threatening or other violence 0:07:20.640 --> 0:07:23.000 that gets centered around this and it's not going to 0:07:23.080 --> 0:07:24.480 happen here in Maricopa County. 0:07:24.720 --> 0:07:29.559 Meanwhile, Jeff Ellington heads run Back election Services. A growing 0:07:29.680 --> 0:07:32.240 part of its business is now election security. 0:07:32.520 --> 0:07:35.360 We recently started selling panic bobs to counties because of 0:07:35.440 --> 0:07:36.760 all the threats to poll workers. 0:07:36.960 --> 0:07:40.400 The devices are connected to nine point one. Ellington says 0:07:40.480 --> 0:07:44.600 they have sold around one thousand to different counties. Former 0:07:44.640 --> 0:07:47.800 Trump's strategist Steve Bennon says that his time in prison 0:07:48.000 --> 0:07:51.480 galvanized him, and he repeated false claims that the twenty 0:07:51.560 --> 0:07:55.200 twenty election was stolen from former President Trump. Speaking at 0:07:55.240 --> 0:07:58.120 a news conference in New York. Bannon also said he 0:07:58.440 --> 0:08:00.880 is committed to helping with letting out the vote and 0:08:00.960 --> 0:08:04.880 recruiting poll workers and ballot counters in swaying states. We 0:08:05.040 --> 0:08:07.360 need to get people in the counting rooms. 0:08:07.560 --> 0:08:10.040 We need to get people around the tables to do 0:08:10.600 --> 0:08:13.280 ballot churing. Okay, So there's still need for that, So 0:08:13.320 --> 0:08:13.960 we're gonna. 0:08:13.720 --> 0:08:17.560 Call for that. Bannon was released Tuesdays, serving four months 0:08:17.680 --> 0:08:22.160 at the Danbury Federal Correctional Institution in Connecticut for defying 0:08:22.200 --> 0:08:26.440 a congressional subpoena from the investigation into the January sixth 0:08:26.520 --> 0:08:29.240 attack at the Capitol. The man who broke into the 0:08:29.280 --> 0:08:32.280 home of former House Speaker Nancy Pelosi in twenty twenty 0:08:32.320 --> 0:08:35.400 two and attacked her husband with a hammer has been 0:08:35.480 --> 0:08:39.280 given another prison sentence for the attack. As Judge Harry 0:08:39.320 --> 0:08:43.280 Dorfman was handing down David to PAP's state sentence, Dorfman 0:08:43.440 --> 0:08:46.719 said it was his intention that the pap never get 0:08:46.760 --> 0:08:49.520 out of prison. It gives the PAP life in prison 0:08:49.640 --> 0:08:52.719 without the chance of parole. The sentences on top of 0:08:52.760 --> 0:08:55.959 a thirty year federal prison term. Global News twenty four 0:08:56.040 --> 0:08:58.200 hours a day and whenever you want it with Bloomberg 0:08:58.280 --> 0:09:01.000 News now Michael Barn, This is Bloomberg Karen. 0:09:01.200 --> 0:09:07.640 All right, Michael Barr, thank you time now for the 0:09:07.679 --> 0:09:11.000 Bloomberg Sports Update, brought to you by try Staate Oudie. 0:09:11.080 --> 0:09:14.040 Here is John stash Hour again. Good morning John, Good 0:09:14.040 --> 0:09:14.480 morning care. 0:09:14.520 --> 0:09:17.400 And it was that Freddie Freeman walk off Grand Slam 0:09:17.520 --> 0:09:19.839 in Game one that turned this World Series in the 0:09:19.960 --> 0:09:22.600 Dodgers direction. They won three straight games. The Yankees are 0:09:22.679 --> 0:09:24.920 hoping the slam hit it in the third inning of 0:09:25.000 --> 0:09:27.880 Game four by Anthony Volpe does the same for them. 0:09:27.960 --> 0:09:29.560 Gave the Yanks to five to two lead. Dodgers got 0:09:29.559 --> 0:09:31.720 it to five to four, but Austin Wells, who had 0:09:31.760 --> 0:09:33.880 been buried in a deep slump, hit a solo shot 0:09:33.920 --> 0:09:36.640 at the Yanks put the game away in the eighth inna. 0:09:38.120 --> 0:09:41.240 Driven the other way deep ut centerfield. 0:09:40.720 --> 0:09:47.360 xCT Fox Sports to call of the Glaber Torres three 0:09:47.440 --> 0:09:50.120 run homer. Yanks won eleven four, still three to one down. 0:09:50.440 --> 0:09:52.040 It's a long way to go to win the series. 0:09:52.080 --> 0:09:54.880 But Aaron Boone happy. He'll be back at the stadium tonight. 0:09:55.360 --> 0:09:58.240 We just showed up today ready to play, and you 0:09:58.320 --> 0:10:00.480 know we're trying to get one, you know, and trying 0:10:00.520 --> 0:10:02.640 to trying to get the gate, trying to get it 0:10:02.720 --> 0:10:05.640 to tomorrow. You know, you know, you don't even get 0:10:05.640 --> 0:10:07.880 ahead of yourself and start thinking about the series. It's 0:10:08.000 --> 0:10:12.400 like our guys were ready to play. Obviously a lot 0:10:12.440 --> 0:10:14.480 of really good at bats, you know. Volpi with a 0:10:14.520 --> 0:10:15.240 big blow. 0:10:15.200 --> 0:10:17.800 Good Tonight starts his as Garrett Coles. He Yanks to 0:10:17.800 --> 0:10:20.240 try to get the series back to La. The White Sox, 0:10:20.360 --> 0:10:23.360 named Texas coach Will Venable, their new manager, takes over 0:10:23.400 --> 0:10:26.160 a team that just had the worst season in MLB history, 0:10:26.200 --> 0:10:27.120 and Barkley's too much. 0:10:27.160 --> 0:10:28.160 Da Kola Jokic. 0:10:28.280 --> 0:10:32.000 Twenty nine points, eighteen rebounds, sixteen assists denverby the Nets 0:10:32.240 --> 0:10:35.400 one nine in overtime. Rangers lost five to three and 0:10:35.520 --> 0:10:39.160 Washington two goals for Alex Ovechkin thirty eight more and 0:10:39.240 --> 0:10:42.160 he breaks Wayne Gretzky's record for most goals in NHL history. 0:10:42.200 --> 0:10:44.640 Islanders lost to Anaheim three to one for ruin shut 0:10:44.640 --> 0:10:47.280 out by Philadelphia two to nothing. Quarterback change in Indianapolis, 0:10:47.320 --> 0:10:50.360 the Colts benching twenty two year old Anthony Richardson. They'll 0:10:50.360 --> 0:10:53.280 start thirty nine year old Joe Flacco. The PGA Tours 0:10:53.320 --> 0:10:56.520 Advisory Council recommending changes that would begin in twenty twenty six. 0:10:56.559 --> 0:10:59.360 They include a reduction in the field size for some 0:10:59.480 --> 0:11:01.240 tournaments players who had a better chance. 0:11:01.080 --> 0:11:02.080 Of completing their runt. 0:11:02.480 --> 0:11:04.600 John Stashedwad of Bloomberg Sports, Karen and Me. 0:11:06.760 --> 0:11:10.760 Coast to Coast on Bloomberg Radio nationwide on Sirius XM, 0:11:10.960 --> 0:11:13.800 and around the world on Bloomberg dot Com and the 0:11:13.920 --> 0:11:18.000 Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm 0:11:18.080 --> 0:11:22.199 Nathan Hager. Artificial intelligence maybe starting to pay off. That 0:11:22.320 --> 0:11:24.599 could be the biggest takeaway from the biggest of the 0:11:24.720 --> 0:11:28.000 big tech companies that supported earnings so far this week, 0:11:28.080 --> 0:11:33.040 Google parent Alphabet posted solid results all around after all 0:11:33.120 --> 0:11:36.319 the spending it's done on AI. Here to break down 0:11:36.360 --> 0:11:40.920 the numbers for us is Bloomberg's Valerie Titel Valerie good morning. 0:11:40.960 --> 0:11:43.680 Looks like solid results all around on the main metrics. 0:11:43.960 --> 0:11:47.160 Yeah, great story from Alphabet. They reported healthy gains in 0:11:47.240 --> 0:11:50.160 both revenue and profit. As that companies, you know, their 0:11:50.200 --> 0:11:52.760 big bet on AI really showed signs of paying off 0:11:52.880 --> 0:11:57.120 in their results last night. Revenue excluding partner payouts increased 0:11:57.160 --> 0:12:00.520 to seventy four point six billion. It's upset sixteen percent 0:12:00.600 --> 0:12:03.600 year and year and ahead of the average analyst expectations 0:12:03.679 --> 0:12:06.840 of seventy two point nine billion. Net income was also 0:12:06.920 --> 0:12:09.199 a beat on expectations. It was at two dollars and 0:12:09.280 --> 0:12:12.480 twelve cents per share, compared with estimates of one dollar 0:12:12.600 --> 0:12:16.959 and eighty four cents per share. Excuse me, As its 0:12:17.280 --> 0:12:20.680 main search business matures, Googles really looks for other ways 0:12:21.400 --> 0:12:23.719 to get revenue, and most that has been focused on 0:12:23.840 --> 0:12:26.800 its cloud division. It's a big bet on AI and 0:12:27.480 --> 0:12:31.079 the Google's sales actually reached a new high for the 0:12:31.160 --> 0:12:34.080 third quarter, and the sales specifically in the cloud division 0:12:34.280 --> 0:12:36.920 jumped to eleven point four billion. It's a thirty five 0:12:36.960 --> 0:12:39.600 percent rise from a year ago and better than analysts 0:12:39.600 --> 0:12:43.559 across the street had projected. Now, the CEO said the 0:12:43.679 --> 0:12:47.400 numbers are encouraging. In a letter to investors last night, 0:12:47.679 --> 0:12:50.319 he said, our cloud AI solutions are helping drive a 0:12:50.400 --> 0:12:54.240 deeper product adoption with the existing customers and attract new 0:12:54.320 --> 0:12:57.719 customers and win larger deals. Now, Google does have the 0:12:57.960 --> 0:13:03.480 negativity of the US antitrust litigation weighing on it, and 0:13:03.679 --> 0:13:05.920 in that same note, the CEO did warn that the 0:13:06.000 --> 0:13:08.559 US government's resolution of that anti trust case could have 0:13:08.720 --> 0:13:12.480 quote unintended consequences for US leadership and tech. So a 0:13:12.520 --> 0:13:15.559 bit of warning there to the Justice Department on that litigation. 0:13:15.720 --> 0:13:19.160 But overall, very positive results from Alphabet based on that 0:13:19.400 --> 0:13:21.839 growth in the cloud services. Those shares are a five 0:13:21.920 --> 0:13:23.440 point four percent pre market trade. 0:13:23.840 --> 0:13:27.120 So after those results and the revenue beat on the 0:13:27.240 --> 0:13:30.000 cloud where is the bar now? What is the run 0:13:30.120 --> 0:13:33.440 rate for AI monetization for Google going forward? 0:13:33.920 --> 0:13:36.880 Well, look, it still really does. It's Google is the 0:13:37.080 --> 0:13:41.000 third in the market for cloud services, alongside Amazon and Microsoft, 0:13:41.080 --> 0:13:44.080 who are a bit ahead of it in that sector. 0:13:44.200 --> 0:13:46.520 But analysts do see that there is room to grow 0:13:46.600 --> 0:13:48.360 and they are positive on it. This is really a 0:13:48.400 --> 0:13:51.160 step in the right direction. What we saw from Alphabet 0:13:51.240 --> 0:13:53.800 in their earnings yesterday that this big bet, this big 0:13:53.920 --> 0:13:56.480 investment is starting to pay off and that they can 0:13:57.200 --> 0:14:00.280 move away from their AD revenue from their main search 0:14:00.360 --> 0:14:02.080 business and find a new avenue for growth. 0:14:03.080 --> 0:14:05.079 But you get have a different story this morning for 0:14:05.360 --> 0:14:08.440 Advanced micro Device is that it's the forecast that really 0:14:08.480 --> 0:14:11.319 seems to be the weight on that stock this morning. 0:14:11.800 --> 0:14:16.720 Yeah, their revenue forecasts from AMD really missed the analyst estimate, 0:14:16.840 --> 0:14:20.320 and it's a sign that it's artificial intelligence sales are 0:14:20.360 --> 0:14:23.640 growing more slowly than some had anticipated. It sparked a 0:14:23.960 --> 0:14:27.160 eight percent drop in the share in post market trade. 0:14:27.160 --> 0:14:29.400 It's continuing to hold that in the pre market as well. 0:14:29.840 --> 0:14:33.200 That's a racing nearly half of the AMD's gains on 0:14:33.560 --> 0:14:38.720 the year. So, despite growing AI accelerator sales, AMD still 0:14:38.880 --> 0:14:43.240 lags decently behind Navidia in the lucrative market, with its 0:14:43.280 --> 0:14:46.000 sales expected to reach only five billion this year. I 0:14:46.080 --> 0:14:49.200 say only five billion because you look at Navidia's AS sales. 0:14:49.280 --> 0:14:52.160 They trump that in multiple But on a conference call 0:14:52.480 --> 0:14:56.560 following the results, the CEO pushback on concerns that AMD 0:14:56.720 --> 0:14:59.720 isn't delivering enough growth, saying the company is ramping up 0:14:59.720 --> 0:15:03.200 product and earning the trust of large data center companies 0:15:03.240 --> 0:15:05.480 that do rely on AI accelerators. 0:15:05.760 --> 0:15:07.680 So, on our last minute val how does this set 0:15:07.760 --> 0:15:10.320 us up for the other big tech companies that are 0:15:10.360 --> 0:15:13.720 going to be reporting today, Microsoft in particular, I have 0:15:13.840 --> 0:15:16.320 to think has a lot of scrutiny around it on AI. 0:15:17.440 --> 0:15:21.200 Yeah, we hear from Microsoft and Meta later today, that 0:15:21.240 --> 0:15:22.920 would be after the bell. But also I want to 0:15:23.000 --> 0:15:25.440 just touch on Reddit briefly. Those sares are surging twenty 0:15:25.480 --> 0:15:29.680 two percent after the company sales and forecast beat expectations. 0:15:29.760 --> 0:15:32.000 You know, this is a share that went public only 0:15:32.200 --> 0:15:34.840 just past March, and it's now three trading nearly three 0:15:34.960 --> 0:15:37.280 times it's ibo price, So a lot of positivity around 0:15:37.280 --> 0:15:39.800 Reddit shares falling through the pre market trade. They're up 0:15:39.800 --> 0:15:40.560 twenty two percent. 0:15:42.040 --> 0:15:44.960 This is Bloomberg day Break, your morning podcast on the 0:15:45.040 --> 0:15:48.480 stories making news from Wall Street to Washington and beyond. 0:15:48.800 --> 0:15:51.160 Look for us on your podcast feed by six am 0:15:51.240 --> 0:15:54.600 Eastern each morning, on Apple, Spotify, or anywhere else you listen. 0:15:54.880 --> 0:15:57.680 You can also listen live each morning starting at five 0:15:57.720 --> 0:16:01.040 am Wall Street time on Bloomberg eleventh in New York, 0:16:01.200 --> 0:16:04.280 Bloomberg in ninety nine to one in Washington, Bloomberg ninety 0:16:04.280 --> 0:16:08.240 two nine in Boston, and nationwide on serious XM Channel 0:16:08.360 --> 0:16:09.080 one twenty one. 0:16:09.520 --> 0:16:12.200 Plus listen coast to coast on the Bloomberg Business app 0:16:12.320 --> 0:16:15.040 now with Apple CarPlay and Android Atto interfaces. 0:16:15.360 --> 0:16:17.920 And don't forget to subscribe to Bloomberg and News Now. 0:16:18.200 --> 0:16:20.720 It's the latest news whenever you want it in five 0:16:20.800 --> 0:16:23.840 minutes or less. 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