Global Markets Await Nvidia; Buffett Dumps More BofA Shares

Bloomberg Audio Studios, podcasts, radio news. Good morning, I'm Nathan 0:00:10.800 --> 0:00:13.760 Hager and I'm Karen Moscow. Here are the stories we're 0:00:13.800 --> 0:00:15.400 following today, Karen. 0:00:15.480 --> 0:00:19.040 Markets are bracing for results from Nvidia. They come out 0:00:19.079 --> 0:00:22.840 after the closing bill this afternoon. Stocks are trading near 0:00:22.920 --> 0:00:26.160 all time highs ahead of those earnings. At Yard Denny 0:00:26.320 --> 0:00:28.800 of yr Denny Research says there is still plenty of 0:00:28.800 --> 0:00:31.040 money on the sidelines that will be put to work. 0:00:31.440 --> 0:00:35.200 The market has demonstrated not only that it's a bullmarket, 0:00:35.280 --> 0:00:39.720 but it's it's a very superchargabull market. I think what's 0:00:39.960 --> 0:00:43.040 supercharging that is there's still a tremendous amount of liquidity 0:00:43.080 --> 0:00:45.320 in the financial system. 0:00:45.560 --> 0:00:45.760 You know. 0:00:45.840 --> 0:00:49.080 The increase in indust rates encouraged a lot of people 0:00:49.120 --> 0:00:51.960 to pile into money market mutual funds. So we have 0:00:52.000 --> 0:00:54.760 a record six trillion dollars in money market mutual funds 0:00:54.800 --> 0:00:57.760 and two and a half trillion of that is retail 0:00:57.920 --> 0:01:02.480 and is the FED lowers into streets that money. Some 0:01:02.600 --> 0:01:05.920 of that money will pour into the stock market. 0:01:06.080 --> 0:01:09.080 Investor ed Yard Denny remains one of the biggest bulls 0:01:09.120 --> 0:01:11.000 on Wall Street well as. 0:01:10.920 --> 0:01:14.440 For Nvidia, Nathan, the results could have a huge impact 0:01:14.480 --> 0:01:17.280 not only on that stock, but the overall market. The 0:01:17.319 --> 0:01:20.200 options market implies a move of nearly ten percent in 0:01:20.240 --> 0:01:23.480 either direction. The day after, we get an earnings preview 0:01:23.480 --> 0:01:25.520 from Bloomberg's Tom Busby. 0:01:25.720 --> 0:01:29.160 Wall Street expecting Nvidia to report blowout results for its 0:01:29.240 --> 0:01:32.240 latest quarter on blockbuster sales of its AI chips and 0:01:32.280 --> 0:01:36.080 the big focus its outlook. Some are expecting revenue growth 0:01:36.160 --> 0:01:39.160 rising as much as seventy percent for the current quarter, 0:01:39.520 --> 0:01:42.920 and despite sufficient demand for its current chip lineup, investors 0:01:42.920 --> 0:01:45.120 will want to hear the latest on the delayed rollout 0:01:45.200 --> 0:01:49.040 of its upcoming Blackwell chips. Consensus calls for revenue of 0:01:49.040 --> 0:01:51.680 twenty eight point eighty six billion on adjusted earning some 0:01:51.800 --> 0:01:55.720 sixty five cents a share. Tom Busby, Bloomberg Radio, All. 0:01:55.720 --> 0:01:58.240 Right, Tom, thanks, and ahead of those results, shares of 0:01:58.360 --> 0:02:01.960 Nvidia are up half percent. After we get the results, 0:02:02.040 --> 0:02:05.960 joined Bloomberg Technology for a half hour in vidias special 0:02:06.360 --> 0:02:10.360 highlighted by an exclusive interview with CEO Jensen Wong. That's 0:02:10.400 --> 0:02:13.320 at six thirty pm Wall Street time on Bloomberg Radio 0:02:13.440 --> 0:02:14.279 and television. 0:02:14.400 --> 0:02:15.880 Will we be keeping an eye on shares of a 0:02:16.000 --> 0:02:18.680 Bank of America, Karen, they're a little change to the 0:02:18.760 --> 0:02:21.960 downside in early trading, but Warren Buffett is continuing to 0:02:22.040 --> 0:02:26.440 unload his stake in the US's second biggest bank. Buffett's 0:02:26.440 --> 0:02:29.720 Berkshire Hathaway sold an additional nine hundred eighty two million 0:02:29.760 --> 0:02:33.080 dollars in Bank of America. The conglomerate has trimmed its 0:02:33.080 --> 0:02:36.600 steak by almost thirteen percent since mid July, generating five 0:02:36.680 --> 0:02:41.120 point four billion dollars. Berkshire still remains the bank's biggest stockholder, 0:02:41.160 --> 0:02:44.960 with almost nine hundred four million shares worth thirty five 0:02:45.000 --> 0:02:46.520 point nine billion dollars. 0:02:47.000 --> 0:02:49.880 Well, Nathan, there's job cuts at Apple. Bloomberg News has 0:02:49.960 --> 0:02:52.480 learned the iPhone maker took the rare step of cutting 0:02:52.480 --> 0:02:55.880 about one hundred positions in its digital services group. The 0:02:56.000 --> 0:02:59.240 layoffs included some engineering roles, and the biggest cuts were 0:02:59.280 --> 0:03:02.120 at the team responsible for the Apple Books app and 0:03:02.160 --> 0:03:05.920 Apple Bookstore. There were also layoffs and other services teams, 0:03:05.919 --> 0:03:08.600 including the one that runs Apple News Karen. 0:03:08.680 --> 0:03:12.280 Job cuts maybe on the way at HSBC. Bloomberg News 0:03:12.320 --> 0:03:15.800 has learned Europe's biggest lender is considering plans that would 0:03:15.840 --> 0:03:20.160 remove layers of middle management. Sources say incoming CEO George 0:03:20.160 --> 0:03:23.080 Elle Hedriy's looking at moves similar to rival City Group 0:03:23.120 --> 0:03:26.640 and Standard Chartered. Bloomberg's Adam Haig has more from Sydney. 0:03:27.040 --> 0:03:30.200 This is the first sign of what we're seeing from 0:03:30.280 --> 0:03:33.120 the new CEO and really wanting to make his mark 0:03:33.160 --> 0:03:35.480 early on in terms of the cost control. So what 0:03:35.520 --> 0:03:37.640 we know at this point is that it's likely to 0:03:37.720 --> 0:03:41.320 affect middle management roles, so that could include country head 0:03:41.320 --> 0:03:44.480 type roles in some of its global network. But there's 0:03:44.480 --> 0:03:47.080 still uncertainty as to how this plays out, and of 0:03:47.120 --> 0:03:50.720 course these plans are potentially subject to change of course 0:03:50.760 --> 0:03:51.200 as well. 0:03:51.520 --> 0:03:54.320 Bloomberg's Adam Haig says the discussions are the latest sign 0:03:54.400 --> 0:03:57.040 the banks looking to rein in costs as rate cuts 0:03:57.080 --> 0:03:59.800 threaten the margins of global lenders like HSBC. 0:04:00.560 --> 0:04:04.160 Well. Another news this morning, Nathan SpaceX is once again 0:04:04.240 --> 0:04:07.880 delaying the first ever private spacewalk, this time because of 0:04:07.960 --> 0:04:11.880 weather after Tuesday's initial launch was scrubbed for a helium lake. 0:04:12.000 --> 0:04:16.359 SpaceX says it's standing down from liftoff opportunities today and 0:04:16.400 --> 0:04:20.320 tomorrow because of an unfavorable forecast in the spacecraft's splash 0:04:20.400 --> 0:04:23.960 down area off the coast of Florida. SpaceX says teams 0:04:23.960 --> 0:04:27.039 will continue to monitor weather for better conditions if it 0:04:27.080 --> 0:04:29.919 gets off the ground. Polaris Dawn is in for a 0:04:30.000 --> 0:04:33.160 fifteen to twenty minute spacewalk by two of the four 0:04:33.240 --> 0:04:35.120 private astronauts on board. 0:04:35.200 --> 0:04:39.120 Back on Earth, Karen. The US Special Council investigating Donald 0:04:39.120 --> 0:04:43.840 Trump for election interference is pressing ahead. Bloomberg's Nancy Lyons 0:04:43.880 --> 0:04:44.560 has the latest. 0:04:46.160 --> 0:04:49.000 Special Council Jack Smith is not giving up on his 0:04:49.120 --> 0:04:52.440 prosecution of Donald Trump, even though he faced a setback 0:04:52.480 --> 0:04:56.279 this summer before the Supreme Court. He's filed an updated 0:04:56.320 --> 0:04:59.400 indictment following the court's rolling that Trump was at least 0:04:59.440 --> 0:05:03.800 partially immune from prosecution related to his official access president. 0:05:04.279 --> 0:05:08.039 The new indictment removes allegations related to Trump's communications with 0:05:08.120 --> 0:05:11.360 government officials at the Department of Justice during his presidency, 0:05:11.680 --> 0:05:14.640 but it keeps intact the same four charges against Trump, 0:05:14.880 --> 0:05:20.200 which include accusations of conspiring to overturn election results in Washington. 0:05:20.279 --> 0:05:22.240 Nancy Lyons Bloomberg Radio, all. 0:05:22.240 --> 0:05:24.239 Right, Nancy, thank you. Now, let's get to the latest 0:05:24.320 --> 0:05:28.520 on geopolitics. White House National Security Advisor Jake Sullivan is 0:05:28.640 --> 0:05:31.919 meeting for a second day with Chinese Foreign Minister Wang 0:05:32.000 --> 0:05:35.760 Yi in the outskirts of Beijing. Bloomberg Staldesus is in 0:05:35.839 --> 0:05:38.719 Hong Kong and says the two leaders have a full played. 0:05:38.920 --> 0:05:41.640 The US obviously feels very strongly about China's involvements in 0:05:41.720 --> 0:05:45.320 backing of Russian forces fighting the war in Ukraine. You've 0:05:45.320 --> 0:05:49.080 also have a lot of concerns over semiconductors and tariffs 0:05:49.080 --> 0:05:51.200 and other punitive measures that the US and its allies 0:05:51.240 --> 0:05:53.800 have taken on a lot of Chinese projects. Just this 0:05:53.880 --> 0:05:57.800 week we had Canada US ally implements some new tariffs 0:05:57.839 --> 0:06:00.440 on Chinese evs. That's certainly on the agenda. And then 0:06:00.440 --> 0:06:02.640 you also have a lot of concerns around military actions 0:06:02.640 --> 0:06:05.039 within the South China Sea. That's something that likely the 0:06:05.160 --> 0:06:07.560 US is going to be bringing up here also any 0:06:07.560 --> 0:06:10.800 issues to robbing Taiwan, which of course China claims as 0:06:10.880 --> 0:06:13.160 its own territory even though it operates independently. So we're 0:06:13.160 --> 0:06:14.440 really just running the gamut. 0:06:14.720 --> 0:06:17.479 In Bloemerrige dal and diesis or Port, Sullivan is hoping 0:06:17.520 --> 0:06:19.960 to make clear to the Foreign Minister that he is 0:06:20.080 --> 0:06:23.360 not speaking for the next administration and speaking. 0:06:23.120 --> 0:06:26.120 Of whatever the next administration may be. Karen Vice President 0:06:26.200 --> 0:06:29.279 Kamala Harris and her running mate Tim Walls are getting 0:06:29.320 --> 0:06:31.680 back on the campaign trail today, kicking off a two 0:06:31.800 --> 0:06:35.800 day bus tour through the battleground state of Georgia. While there, 0:06:36.160 --> 0:06:39.440 Harris will give her first interview since becoming a candidate. 0:06:39.480 --> 0:06:42.799 She has agreed to appear on CNN tomorrow night. Republican 0:06:42.880 --> 0:06:45.880 running mate jd Vance was on the campaign trail in Michigan, 0:06:45.920 --> 0:06:48.160 and he criticized Harris's convention speech. 0:06:48.520 --> 0:06:50.359 I think our tone is ridiculous. In our speech, they 0:06:50.360 --> 0:06:54.159 are extremely serious consequences to voting for Donald Trump. 0:06:54.240 --> 0:06:56.799 I don't think that's persuasive to most Americans, and warning 0:06:56.839 --> 0:06:59.400 them about voting for the wrong person is just I 0:06:59.400 --> 0:07:02.400 think it's ridicul The Republicans JD Vance and Donald Trump 0:07:02.400 --> 0:07:05.200 have been pressuring Harris to do more unscripted events. Tomorrow 0:07:05.279 --> 0:07:07.920 Night's interview with Harris and Tim Walls will air on 0:07:08.040 --> 0:07:15.920 CNN at nine pm tomorrow. Wall Street Time, and it's. 0:07:15.800 --> 0:07:17.360 Time now for a look at some of the other 0:07:17.520 --> 0:07:20.240 stories making news in New York and around the world. 0:07:20.320 --> 0:07:22.840 And for that we're joined by Bloomberg's Michael Barr. 0:07:22.880 --> 0:07:26.679 Michael, Good Morning, Good morning, Karen. A horrifying story after 0:07:26.760 --> 0:07:30.280 a couple in their fifties was kidnapped and assaulted while 0:07:30.440 --> 0:07:35.040 house hunting in Danberry, Connecticut. Authorities say their Lamborghini was 0:07:35.080 --> 0:07:38.440 intentionally rear ended by a van. Six men said to 0:07:38.480 --> 0:07:41.239 be from Florida attacked the couple and forced them into 0:07:41.280 --> 0:07:44.920 the van. Witness alerted police and pursue the van until 0:07:44.920 --> 0:07:48.360 it crashed, leading to the couple's rescue. All six suspects 0:07:48.360 --> 0:07:53.040 were caught. Sergeant Stephen Castravinci is with the Danberry Police. 0:07:53.240 --> 0:07:55.320 We've did a lot of background work on them, but 0:07:55.640 --> 0:07:56.920 this time it doesn't seem. 0:07:56.760 --> 0:07:59.440 They have any connections to the northeast. Are all Miami, 0:07:59.520 --> 0:08:00.520 Florida guys. 0:08:00.720 --> 0:08:05.840 All six face multiple charges, including assault and kidnapping. Ukrainian 0:08:05.880 --> 0:08:08.880 President Vladimir Lenski will present a plan to force Russia 0:08:08.920 --> 0:08:11.640 to hold its invasion of his country to President Joe 0:08:11.640 --> 0:08:16.000 Biden just weeks before the US holds November elections. Selensky 0:08:16.080 --> 0:08:19.160 says that he wants to discuss the blueprint with Biden 0:08:19.480 --> 0:08:22.360 during his trip to the United Nations General Assembly meeting 0:08:22.360 --> 0:08:25.560 in New York in September. Zelenski also says he will 0:08:25.680 --> 0:08:30.000 present it to presidential candidates Kamala Harris and Donald Trump. 0:08:30.640 --> 0:08:35.160 Personal injury attorney Tom Girardi, who gained notoriety when his 0:08:35.320 --> 0:08:39.440 wife Erica appeared on the Real Housewives of Beverly Hills, 0:08:39.760 --> 0:08:42.959 has been found guilty of embezzling fifteen million dollars from 0:08:43.000 --> 0:08:46.200 his clients. The prominent Los Angeles attorney was a key 0:08:46.240 --> 0:08:49.600 figure in helping secure a settlement that later became the 0:08:49.640 --> 0:08:54.199 storyline to the movie Erin Brockovich. US attorney Martine Strata 0:08:54.400 --> 0:08:57.240 is insatiable appetite for money. 0:08:57.800 --> 0:08:59.120 Is it led him to court? 0:08:59.320 --> 0:09:02.000 And what led to the verdict today? Kimberly Archie, who 0:09:02.040 --> 0:09:06.240 once worked as a legal consultant for Girardi's firm, spoke 0:09:06.280 --> 0:09:07.080 after the verdict. 0:09:07.640 --> 0:09:11.080 I actually believe at one point that Tom Girardi was 0:09:11.080 --> 0:09:14.160 a decent human being, that he was a hero. You 0:09:14.200 --> 0:09:17.199 know what they say about meeting your heroes, right, I'm 0:09:17.200 --> 0:09:18.160 going to disappoint you. 0:09:18.800 --> 0:09:22.200 Girardi sentencing is set for December sixth. We're learning. Police 0:09:22.200 --> 0:09:25.400 in Nassau County made their first arrest under a new 0:09:25.440 --> 0:09:29.800 local law matning face masks and the announcement yesterday. Officers 0:09:29.800 --> 0:09:32.480 responded to reports of a suspicious person on a street 0:09:32.559 --> 0:09:36.400 near the Levittown and Hicksfield town line. Sunday night. Authority 0:09:36.480 --> 0:09:40.520 say eighteen year old Westland Omar Ramirez Castile was wearing 0:09:40.720 --> 0:09:43.880 black clothing and a black ski mask that covered most 0:09:43.880 --> 0:09:47.560 of his face and displayed other suspicious behavior. Police said 0:09:47.559 --> 0:09:51.040 that Ramirez Castile was carrying a fourteen inch knife. He 0:09:51.160 --> 0:09:54.240 was arrested without incident. Global News twenty four hours a 0:09:54.320 --> 0:09:56.720 day and whenever you want it with the Bloomberg News. Now. 0:09:56.920 --> 0:10:00.240 I'm Michael Barr, and this is Bloomberg Karen ray Bar. 0:10:00.360 --> 0:10:00.760 Thank you. 0:10:05.679 --> 0:10:08.960 Time now for the Bloomberg Sports Update with John stash Hour. 0:10:09.040 --> 0:10:11.360 John, good morning, Good morning Caaren. The Mets road trip 0:10:11.400 --> 0:10:14.400 continuing that Arizona, another hot team like San Diego, who 0:10:14.400 --> 0:10:16.640 the Mets just split with. Mets took the opener eight 0:10:16.679 --> 0:10:19.280 to three. Pete Alonso two run homers, second and he 0:10:19.320 --> 0:10:21.240 Mets then put it away with six in the fifth, 0:10:21.280 --> 0:10:23.679 tenth win for Shawn and Iya took a shutout to 0:10:23.720 --> 0:10:25.840 the seventh and he struck out eleven. Atlanta one at 0:10:25.840 --> 0:10:28.880 Minnesota remained three games ahead of the Mets. The Yankee 0:10:28.960 --> 0:10:31.880 lead Ali's trimmed to a game. Baltimore beat the Dodgers 0:10:31.920 --> 0:10:34.840 after The Yankees lost in Washington four to two, shutout 0:10:35.240 --> 0:10:37.439 until the eighth didn't fail to score against the NAT's 0:10:37.480 --> 0:10:40.840 Patrick Corbin, who came in three and twelve. Garrett Cole 0:10:40.920 --> 0:10:42.600 serves up a couple of solo home runs and the 0:10:42.679 --> 0:10:44.280 Yanks committed four errors. 0:10:44.559 --> 0:10:47.000 Here's aaron, Judge, you can't do that if we expect 0:10:47.040 --> 0:10:48.520 to win ball games. You know, we had a chance 0:10:48.559 --> 0:10:50.800 to at the end a couple of chances last Suings 0:10:50.840 --> 0:10:52.480 had come back and maybe won it. And I stinkd 0:10:52.480 --> 0:10:55.040 that went out, but you know, couldn't come away with it. 0:10:55.080 --> 0:10:57.000 But I think we had a don't know if it 0:10:57.080 --> 0:10:58.760 was three or four hours on the on the night, 0:10:58.840 --> 0:11:01.720 but anytime something like that happens, let's till the win 0:11:01.760 --> 0:11:02.160 a ball game. 0:11:02.280 --> 0:11:04.040 Judge came up eight. Dinny with the basisload of No. 0:11:04.080 --> 0:11:06.040 One out hit into a double play Red Soaps mae 0:11:06.080 --> 0:11:08.400 Toronto six to three. Kansas City won six to one 0:11:08.480 --> 0:11:11.160 at Cleveland. The surprising Royals have won ten in the 0:11:11.200 --> 0:11:13.920 last thirteen. They'd moved into a tie for first Al Central. 0:11:13.920 --> 0:11:16.480 The Guardians have been in first almost all season. 0:11:16.480 --> 0:11:16.880 Primetime. 0:11:16.880 --> 0:11:19.200 At the US Open, Carlos Alcoraz in what figured to 0:11:19.200 --> 0:11:22.760 be an easy one in Australia's Lee two. A qualifier 0:11:22.800 --> 0:11:26.160 had only played in one Grand Slam match ever, and 0:11:26.280 --> 0:11:29.120 yet he took the second set. Alcoraz did win in four. 0:11:29.520 --> 0:11:32.439 An outer court match between Daniel Evans and Karin catching Off, 0:11:32.440 --> 0:11:35.679 Evans won in five sets. All five took more than 0:11:35.679 --> 0:11:38.280 an hour. The match took a US Open record five 0:11:38.320 --> 0:11:41.440 hours and thirty five minutes. The Giants cut Isaiah Hodgkins. 0:11:41.440 --> 0:11:43.079 He played a big role a couple of years ago, 0:11:43.160 --> 0:11:46.040 had over one hundred receiving yards in the playoff win 0:11:46.080 --> 0:11:49.240 at Minnesota. Another whiteout. Kadarius Tony cut by the Chiefs. 0:11:49.480 --> 0:11:51.800 Giants gave up on Tony the year after they drafted 0:11:51.880 --> 0:11:53.560 him the first round. He did have some big plays 0:11:53.840 --> 0:11:57.600 in Kansas City Super Bowl win. Johns Stashedward Bloomberg Sports Care. 0:11:57.559 --> 0:12:00.240 Nathan, all right, John, thank you all for your listening 0:12:00.320 --> 0:12:03.240 to us in Boston. Our new home is starting September third, 0:12:03.400 --> 0:12:07.160 will be ninety two nine FM. That's the day right 0:12:07.200 --> 0:12:10.440 after Labor Day. Bloomberg Radio moving to ninety two nine 0:12:10.679 --> 0:12:15.520 FM in Boston, Coast to coast. 0:12:15.360 --> 0:12:19.320 On Bloomberg Radio, nationwide on Sirius XM, and around the 0:12:19.360 --> 0:12:22.880 world on Bloomberg dot Com and the Bloomberg Business app. 0:12:23.080 --> 0:12:26.679 This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. The 0:12:26.720 --> 0:12:29.720 earnings that investors have been waiting for weeks are now 0:12:29.920 --> 0:12:33.320 hours away. In Vidia opens its second quarter books after 0:12:33.360 --> 0:12:36.480 today's closing bell with another high bar to clear to 0:12:36.520 --> 0:12:40.360 show the AI spending. Boom still has momentum, joining us 0:12:40.400 --> 0:12:44.160 ahead of Nvidia. This morning, Bloomberg TV and radio anchor 0:12:44.600 --> 0:12:47.560 Kritty Gupta Critty, good morning. It seems like investors have 0:12:47.600 --> 0:12:51.920 gotten used to blowout earnings quarter after quarter for Nvidia. 0:12:52.040 --> 0:12:54.600 So how high is the bar this time and what 0:12:54.679 --> 0:12:57.640 will the reaction be if Nvidia doesn't meet it. 0:12:58.200 --> 0:13:00.040 Well, it's a blessing and a curse to be a 0:13:00.280 --> 0:13:02.640 plus student. And I think that's the big issue here 0:13:02.920 --> 0:13:05.000 with Nvidia, because to your point, it has been a 0:13:05.040 --> 0:13:07.560 win after win, But this is I think the first 0:13:07.600 --> 0:13:10.480 time we're actually seeing more nerves than I've seen in 0:13:10.520 --> 0:13:12.640 the last couple of quarters around it. And let me 0:13:12.679 --> 0:13:14.920 just put this into some perspective here in terms of 0:13:14.960 --> 0:13:17.160 some of the numbers that they are expecting when it 0:13:17.200 --> 0:13:20.079 comes to estimates for the second quarter. The revenue estimate 0:13:20.160 --> 0:13:22.880 right now is about just I have twenty nine billion 0:13:22.920 --> 0:13:25.360 dollars for the second quarter, so that's the number that 0:13:25.360 --> 0:13:27.280 they have to beat. With the third quarter of kind 0:13:27.280 --> 0:13:29.480 of forward guidance being at about thirty just ty have 0:13:29.520 --> 0:13:31.640 thirty two billions. Those are the numbers that Nvidia has 0:13:31.679 --> 0:13:34.840 to beat from a revenue perspective. Anything short of that 0:13:34.880 --> 0:13:36.960 would signals some sort of slow down in the a 0:13:37.240 --> 0:13:40.680 underlying AI demand, not just from kind of the broad 0:13:40.679 --> 0:13:43.720 tech space, but a lot of it coming from the hyperscalers. 0:13:43.720 --> 0:13:45.760 So you're what they're calling kind of the big tech 0:13:45.800 --> 0:13:49.800 companies Amazon, Microsoft, Alphabet, the ones that have been trying 0:13:49.840 --> 0:13:52.800 to really invest in a really big way in AI 0:13:52.960 --> 0:13:56.040 while also getting their own in house operations up to 0:13:56.120 --> 0:13:57.839 par when it comes to AI. So it's kind of 0:13:57.840 --> 0:14:00.560 been a little bit of a liquidity transfer basic the 0:14:00.720 --> 0:14:03.480 richest companies in the States and arguably in the world 0:14:03.920 --> 0:14:06.760 spending in a really big way to Nvidia, to the 0:14:06.760 --> 0:14:09.560 point that makes Nvidia's bottom line over fifty percent of 0:14:09.600 --> 0:14:12.840 it coming from just a handful of those MAGS seven names. 0:14:12.880 --> 0:14:14.800 So that's kind of I think the bar or I 0:14:14.840 --> 0:14:17.520 think what's at stake here when it comes to these 0:14:17.520 --> 0:14:18.199 earnings today. 0:14:18.520 --> 0:14:21.200 So we do have a lot of companies doing a 0:14:21.200 --> 0:14:24.080 lot more in house development of these kinds of chips 0:14:24.120 --> 0:14:27.080 that in Nvidia up to this point has been the 0:14:27.120 --> 0:14:29.800 only game in town providing could we see more color 0:14:29.880 --> 0:14:33.240 from Nvidia on whether it's concerned at all about losing 0:14:33.240 --> 0:14:34.000 some market share. 0:14:34.360 --> 0:14:36.720 So this was one of the concerns going into after 0:14:36.800 --> 0:14:39.600 the last quarter, which was this idea of diversification. Because 0:14:39.640 --> 0:14:41.440 so much of their money, or so much of their 0:14:41.440 --> 0:14:44.000 customer base comes from really just a handful of big names, 0:14:44.120 --> 0:14:46.720 the questionnaire is how do they make it a bigger thing? 0:14:46.840 --> 0:14:49.360 For example, is AI something that just kind of the 0:14:49.400 --> 0:14:51.440 nerdiest of the nerdy can really use, or is this 0:14:51.480 --> 0:14:55.680 something that can see broader adoption in other sectors, in infrastructure, 0:14:55.720 --> 0:14:59.960 in renewables, in industrials, even in things like medical equipment. 0:15:00.200 --> 0:15:02.960 And that was the case that Jensen Wong was trying 0:15:03.000 --> 0:15:04.640 to make in the last quarter, was that this is 0:15:04.880 --> 0:15:07.320 just the beginning. This is just tech getting on board 0:15:07.320 --> 0:15:10.680 of AI. The applications go much farther when it comes 0:15:10.680 --> 0:15:14.120 to the near term picture. To answer your question, Nathan, specifically, 0:15:14.160 --> 0:15:15.920 for today, a lot of investors are going to be 0:15:15.960 --> 0:15:18.680 looking for the update on the Blackwell chip and The 0:15:18.680 --> 0:15:21.040 way to think about some of the chips that Nvidia 0:15:21.080 --> 0:15:23.080 puts out when it comes to gaming or data centers 0:15:23.360 --> 0:15:25.240 is I would compare it to the likes of kind 0:15:25.280 --> 0:15:27.520 of getting a new iPhone from Apple, and that they 0:15:27.520 --> 0:15:31.280 have this design cycle, this innovation cycle where they're releasing 0:15:31.320 --> 0:15:34.240 a new version every year, every two years that is 0:15:34.320 --> 0:15:38.160 cutting edge, etc. The problem is Blackwell, which is their 0:15:38.200 --> 0:15:41.080 latest product, is expected to have some delays. So one 0:15:41.080 --> 0:15:42.880 of the pieces of commentary that a lot of folks 0:15:42.880 --> 0:15:45.120 are going to be sensitive to what did the delays 0:15:45.160 --> 0:15:48.520 look like? Doesn't impact future product projects and does the 0:15:48.560 --> 0:15:51.880 signal kind of this capacity constraint or any sort of 0:15:51.880 --> 0:15:54.880 supply chain constraint when it comes to getting the AI 0:15:55.080 --> 0:15:57.680 delivered to some of their customers. 0:15:58.000 --> 0:16:00.200 Just thirty seconds left, we're going to be getting some 0:16:00.240 --> 0:16:03.640 more commentary from Nvidia CEO Jensen Wong on a Bloomberg 0:16:03.680 --> 0:16:08.200 Technology special this evening. If you were at Ludlow this evening, 0:16:08.400 --> 0:16:10.400 what would you be asking Jensen Wong. 0:16:10.440 --> 0:16:13.600 Well, knowing ed Ludlow, I bet his verse be on montization, 0:16:13.800 --> 0:16:15.760 what that pricing looks like, because that's going to be 0:16:15.760 --> 0:16:18.800 the game changer here. They've developed the technology they've marketed 0:16:18.800 --> 0:16:21.840 the technology. How much money can you make on the technology? 0:16:22.080 --> 0:16:24.040 I bet that would be a top of live bread. 0:16:24.360 --> 0:16:27.280 This is Bloomberg day Break Today, your morning brief on 0:16:27.320 --> 0:16:30.880 the story's making news from Wall Street to Washington and beyond. 0:16:31.160 --> 0:16:33.920 Look for us on your podcast feed at six am 0:16:34.000 --> 0:16:37.640 Eastern each morning, on Apple, Spotify, and anywhere else you 0:16:37.720 --> 0:16:38.880 get your podcasts. 0:16:39.000 --> 0:16:41.720 You can also listen live each morning starting at five 0:16:41.760 --> 0:16:44.400 am Wall Street time on Bloomberg eleven three to zero 0:16:44.400 --> 0:16:47.200 in New York, Bloomberg ninety nine to one in Washington, 0:16:47.360 --> 0:16:50.240 Bloomberg one oh six to one in Boston, and Bloomberg 0:16:50.280 --> 0:16:52.000 ninety sixty in San Francisco. 0:16:52.360 --> 0:16:55.520 Our flagship New York station is also available on your 0:16:55.560 --> 0:17:00.280 Amazon Election devices. Just say Alexa play Bloomberg eleventh. 0:17:00.680 --> 0:17:03.560 Plus listen coast to coast on the Bloomberg Business app, 0:17:03.640 --> 0:17:07.639 serious XM, the iHeartRadio app, and on Bloomberg dot Com. 0:17:07.680 --> 0:17:08.760 I'm Nathan Hager and. 0:17:08.760 --> 0:17:12.040 I'm Karen Moscow. Join us again tomorrow morning for all 0:17:12.080 --> 0:17:14.600 the news you need to start your day, right here 0:17:14.760 --> 0:17:16.080 on Bloomberg Daybreak