>> from the heart of our innovation, money and power combine, this is bloomberg technology with caroline hyde and ed ludlow. caroline: i'm caroline hyde from bloomberg's world headquarters in new york. ed: and i'm ed ludlow in san francisco. caroline: nvidia is already unveiling new chips at the annual tech event. details on the company's ai ambitions. ed: elon musk's reported drug use is a new source of headaches for the boards of tesla and x. caroline: instacart will begin

showing advertisements on its high-tech shopping carts. in the latest addition to the company's growing business, our interview with ceo fidji simo. looking at the stock market, we had some tentative gains in the nasdaq friday with that mixed data on the jobs front but right now we see the best data since december 21. jp morgan saying after a bit of a selloff, we are likely to see some buying. it is interesting we get this uplift in stock buying in the u.s. when globally that was not the case, particularly in asia. even with china looking to stimulate its economy and allowing banks to lend more, we are still down on the nasdaq alden dragon index. clearly this isn't a global rally. we are going to go into the nuances of what is driving us and also what is on the downside.

boeing is the. key conversation with that. at the world of crypto. still seeing the anticipation is there. will january the 10th or earlier -- we still manage to rally up 1.6%. what are you watching on the micro? ed: a huge news cycle. boeing clearly dominates. the stock is down 6.6% after a partial grounding of the 737 max nine globally. we are going to bring you a unique technology story related to what happened over the weekend. apple is higher 1.5%. the vision pro mixed reality headset will go on sale february 2. will have more details later in the show. tesla higher. the wall street journal reporting historic drug use by elon musk that is worrying board members and staff at tesla and spacex.

our next guest is going to break down a complicated story. if tesla is the proxy for elon musk sentiment, it is higher by 6/10 of 1%. look particularly at nvidia. up almost 5% but semiconductors having a pretty good morning. the stock was pretty down trodden in the final days of 2023. in the last hour, some news. nvidia announced the personal computer industry lure new consumers with ai pcs making better use on personal machines. i want to bring in ian king who has been tracking this -- tracking the keynote at ces. ian: these are just updates to their existing range of chips. it has put in a few more new components that are going to help with the ai processing.

some new cores, better memory bandwidth. also adjusting prices, making them more attractive as well. caroline: just an update, yet the stock rally is hard. back at an all-time high for nvidia shares. the best day since august 21, 2023. is it just that we needed a shift, that ai is everything to this particular company? ian: i think the last thing you said is the answer. clearly ai has been enormous benefit for this company already. it has proven that this is real, this is about actual sales and employment. nvidia comes out and says don't forget about us, here is an ai pc that intel and amd has been talking about, we can do this better. it is likely to press the right kind of button with investors. ed: it is interesting, the timing.

the story with nvidia was the h 100, a gpu that goes into a server that goes into a server and you build your large language models. this seems like nvidia reminding everyone, we are actually pretty good at pcs. is it going to be an important business for them? ian: up until about a year ago, it was the biggest, the one thing we talked about. geforce was what we talked about. it is going to stay an important business for them. right now, all the prophets and major gains are from the data center but of course they used to open ces every year with this bright new shiny thing and this is them reminding people that they still can. ed: maybe i am reading too much into it. last year part of the story was the leather jacket wearing next elon musk type, though maybe

today we won't make that comparison. the momentum hasn't really stopped. the stock is at a fresh record high. what is the story from nvidia going into 2024? ian: they have a whole host of new products which we saw some of announced today. we are actually going to speed up the cadence of new products that we announce. the story is, will that cadence keep them ahead of what intel and amd and everyone else says they are going to do in that space? can they keep themselves the must-have technology provider for that particular area? caroline: more than $1 trillion valuation, so for now, investors still remain pleased with nvidia. ian king, we ask -- we appreciate you breaking it down. the overall value of generative ai, not just companies but the economy more broadly and out

will be interweave into pre-much every single industry group. paul, you have done the numbers, you have crunched them. i want to go into how you get the numbers but talk to us about what impact you think generative ai's going to have. paul: ai is the theme here. our role in this is we help companies deploy technology solutions and generative ai is the hot ticket right now. 95% of executives tell us they're going to increase spending on technology as they go into 2024. 97% of executives believe generative ai is transformative for the business they are doing. the basic research we have done, we see that impacting 44% of all of the working hours across industries globally and that adds up to about $10 trillion of economic value over the next several years as companies adopt

generative ai. this is very much a wave driven industry as you know. this is the biggest one i believe, and terms of the transformation it will drive for us as individuals in terms of how we work and live and businesses and how they drive technology forward. caroline: $8 trillion to $10 trillion. how does that assert itself? is it by freeing up individuals? is it about the ability to preserve the bottom line for companies doing more with less? what drives that money? paul: that is the exciting thing about generative ai. we talk about this as an inflection point in the nature of technology. technology has been the nuts and bolts of the plumbing, the cloud, pcs and such, the infrastructure. ai is about human keep ability, seeing technology that does things kind of like what we do and that is why it is so

transformative. it's about productivity as you said. it does drive tremendous productivity, for example in a large telecommute occasions organization, we applied generative ai in customer service with a 60% increase in customer satisfaction as a result. it is about productivity and the outcomes as well. the interesting thing is it can also drive creativity and new ways of doing things. using it in our digital agency business to create new advertising campaigns, more personalized. one final really good benefit of generative ai is the benefit for the individual. we didn't implementation for our sales organization, a pilot of generative ai and one of the findings was it produced better results and better productivity, but it also increase people's satisfaction and their feeling of balance of the work they were doing because it took away some

of the tasks they did not want to do. a lot of this is in the early stages but a lot to look forward to. caroline: that sort of goes counterweight to some of the anxiety i think that has been across many industry groups and i think consultants and lawyers about what it means about white-collar jobs in the future. do you think it will erode jobs? paul: it is going to change jobs, that is the way to think about it. it's not about ai taking away jobs. we have that narrative wrong, a fear about ai coming for all the jobs and that is kind of backwards. it's about how we can enhance but we as people do in how we do things. we talk about things like human in the loop jobs. it's about how can a person have a wing man to help them be more productive? i think the key thing is how do you bring along your workforce that they are able to use these tools? how does a customer service agent do their job?

another example in the energy industry, we have deployed generative ai as a safety assistant to help people do their work more safely, more cognizant of their own personal safety. these types of things are going to help people and make jobs more interesting and one piece of data from research we are releasing right now talks about the fact that 95% of workers are excited about how generative ai can chase the nature -- change the nature of the work they are doing. ed: i'm jumping on a plane very soon to head to vegas to join you. ai is thoroughly lee -- is clearly the overarching theme. across health care automotive, software, consumer electronics, big-box retail, markets, and terms of the speakers. give me one example of a thing you think has the most substance coming out of ces this year. paul: the thing that is really exciting is, it shipped from a

year of experimentation and education around ai moving into 2024 as the year when companies look to drive value at scale with it. that is why you see the senior executives from walmart and best buy and other companies, talking here. it is about that shift to value and driving value and that is why you will start to see ces at the convergence, showing thousands of companies with innovations around these technologies and organizations understanding how they use that to transform, and that is the interesting point around ces this year. ed: i will see you out there. thank you for your time. caroline: more coming up. instacart expanding their ad business with high-tech shopping carts. that's going to be available to interact with at ces. meanwhile let's look at the shares of what is happening with apple. we know it is key when it comes to driving the points move on

some of these key benchmarks and a bit of a bounce back on apple today, at 1.8%. vision pro goes on sale february 2. bloomberg intelligence app had a great piece on the addition you will get in sales increase, $1.75 billion to be added to annual revenue. it is not nearly enough to make up for consumer weakness going on in china and that is what jeffrey's highlights today. sales in china fell 30% according to their numbers. this is bloomberg technology. ♪

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caroline: -- growing adds business and a sign of investment products outside of grocery delivery. we sat down for a conversation about it with fidji simo. take a listen. fidji: we have a lot of interest from retailers. now you can see -- good for the holding, and many more, from -- and we think in 2024 we will have more deployed. the reason they are excited to deploy is because customers love them. we hear over and over from customers how fun the shopping journey becomes when you're using instacart and how convenient it is. caroline: future for u.s. shopping, how international

could this get? you are someone who is french and i know there is already exposure in spain and france. fidji: we certainly want to make that something that is international as well what we are very focused on the u.s. because it is our core market but we do have interests from international retailers as well . caroline: for the direction of travel for instacart because is this trying to ensure that you are not just purely an online player for retailers, consumers but also have managed to draw in higher margins through advertising. how much are you trying to broaden out what instacart really is to an investor and indeed the retailer and consumer? fidji: when i joined instacart, to me it was obvious that we needed to hurry up. we were already a company that was building technology to help retailers with the big digital transformation it was happening, doing that primarily through

e-commerce. we are really spending to build technology because what we believe is that customers are not going to shop just online or just in stores. they will shop on the channels and retailers who really create a seamless omni-channel experience are the ones who are -- and instacart is giving them this edge. caroline: doesn't give you an edge versus who analysts would say are your competitors? there was worry from some that uber, doordash are going to eat in on some of your market share and that walmart and amazon are so good at omni-channel. how does this carve you a niche? fidji: we already are the leading category in grocery delivery, and here like this launch, it really proves that we have a different strategy from these players. i was strategy is to enable

retailers with all of the technologies they need to run their business and that applies online and that is why we have the vaster majority of retailers on our platform, well above any competitor but also hoping -- helping them with creating a new revenue line because as relaunch advertising, we are sharing revenue with retailers and therefore helping them grow their business both online and in-store. that is a complete difference or to g from some of the market players you mentioned, where the market places are really just about growing their marketplace and in some cases even competing with retailers. we don't do that. we enable retailers. caroline: fidji simo of instacart. currently up to .3% on the trading day at the moment -- currently up 2.3% on the trading day at the moment. ed: elon musk's reported drug

use has tells the board members couldn't -- concerned. also checking in on shares of twilio. currently up for their biggest jump since july. there ceo is stepping down from that's company which he cofounded. they are facing slowing sales growth and pressure from activist investors. we look at the full picture on that story later in the hour but clearly a positive in -- a positive reaction from investors. this is bloomberg technology. ♪

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ed: time for talking tech. sony planning to call off its $10 billion merger packed with its india unit, according to sources. the move cap's two years of

drama and delay in creating a $10 billion media giant and the standoff has been over whether -- the ceo would leave the merged entity. microsoft has picked longtime executive d templeton joint openai's board as a nonvoting observer according to bloomberg sources. templeton has worked at microsoft for more than 25 years and is the company's vice president for technology and research partnerships and operations. elon musk's reported drug use by the wall street journal is worrying tesla and spacex board members. wall street journal cited anonymous sources and witnesses. now they have a big decision, whether to do anything about it with elon musk and the financial or legal risk that reporting could pose to those companies. caroline: let's dive deeper into that story. deep -- these are serious allegations and the quandary left of the board members, it is a failure one, what to do if anything about musk, about legal

and financial repercussions and what it means for his companies he manages. we are pleased to have, one of the members of the elon. musk podcast reports by the journal that musk has been using lsd, cocaine, psychedelic mushrooms. elon musk himself has come out on his own social media platform. what do you say? >> he sort of swung in various directions and sometimes he said whatever i'm taking, i should continue taking it, basically pointing to the performance, and also the fact that a lot of the stuff or some of it has happened more or less in the open. he smoked marijuana on joe rogan's podcast. he has said he has a prescription for ketamine, which we know is a party drug. he has also said that spacex has been required to drug test him as part of the joe rogan fallout. he said he has never failed a drug test. he is sort of essentially saying number one, this is overblown, number two, the companies are

doing great so what is the big deal? ed: the thing is, that either the wall street journal report is accurate, citing anonymous sources, or it's not. this is the post-e caught my eye, elon musk saying following that joe rogan appearance, at nasa's request, he agreed to random drug testing over a period of three years. we've asked for comment from nasa and spacex but if the drug testing took place, we would have more to go on with this story. >> the journal article mentions the fact that he was drug tested. also noting that some of the drugs they are talking about are not traditionally in that kind of drug test. we are talking about psychedelics, that is the allegation. in addition to some of the things that carolyn just mentioned. -- caroline just mentioned. it is not clear what he would test positive for and it is not surprising he has been drug tested because a lot of

government contractors drug test employees. caroline: this comes down to ultimately a board, who some worry are just too close to him. >> with elon musk, there is the conversation around drug tests and then there is the bigger conversation around the erratic behavior. sometimes we are talking about drugs and speaking about the fact that he tweets weird stuff in the middle of the night. i think in general, as long as the companies have done well, the boards have been ok with it. investors have been ok with it and the question is wind has the or spacex hits a rough patch, what happens then? if and when that happens, that'll be when the rubber meets the road. ed: and it is not concerning tesla investors right now. thank you very much. coming up here on bloomberg technology, hopefuls rush to file their final documents with u.s. regulators. key differences emerging among applicants in their proposed fee structures. we will do a deep dive on that, next.

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ed: welcome back to bloomberg technology. ed ludlow here in san francisco. caroline: caroline hynde in new york -- caroline hyde in new york. a bit of a rally across the united states. let's take into what is happening with nvidia. a record high, adding to the nasdaq 500 -- at -- adding to the nasdaq 100. the market likes it ahead of ces. in the world of twilio, also riding high after the ceo had to move stage left.

people felt he was too synonymous with just spending too much but his right-hand man for the past few years is basically taking over. many questioning whether that will exert any change in leadership. apple on the upside as well after five straight days of losses. apple managed to regain some ground. also an extraordinary story regarding the iphone and how that has been entangled with the disaster on that no 737 max nine. little on a day that jeffrey's analysts are saying they could see a selloff in terms of revenue and consumer demand, 30% year on year in china. let's look at some of the big benchmarks in terms of mood music because we are riding high.

bitcoin, up 2.4%. we are back about $45,000 -- back above $45,000. ed: bitcoin spot etf watched day, i don't know which day. blackrock, several perspective issuers of etf's filed amended forms this morning in what was seen by analysts to be a final push. joining us now is the cofounder and ceo of -- that offers software tools that allows users to manage their crypto portfolio but also use new crypto products. you're watching this closely. it will impact your business and your world. that news, the updated forms. we have more issue -- more updates on fee structure. it seems like the weight might soon be over. >> we've been waiting for five years. we're getting close. it is going to happen. the question is wind as it goes live? does s.e.c. delay the filing?

i don't think so. i think they are back against the wall. you'll will see the etf go live q1, q2 maybe. maybe they will give us the bitcoin etf but not the others. they've already said that bitcoin is definitely not a security. ed: you've been waiting five years. others in the market have been waiting much longer. the other kind of data we are getting now is the proposed fee structure. you think about beluga and your customers accessing what is a new product in the market. why is the fee structure or fee proposed by the issuers important? >> i don't think the fees are going to be as super important as others think. pensions fund -- pension funds, like blackrock and the traditional big ones. it is a small -- that already had access which had a much

higher fee zone then what was proposed. more retail investors will go into the smaller feed ones where the black rocks will get the higher big institutional investors. caroline: what is interesting is many would say they don't want to make -- they don't want to make kingmakers. they are trying to ensure that this is going to be a bit of a race to marketing, to ensure that you get your name out there, associated with the spot bitcoin etf. have you put much research into it? how much of a change does this make to the ability to interact with bitcoin? >> it is going to be pretty exciting. everything relates back to what was going on with the bitcoin etf. huge buying pressure could happen in the crypto space. there is the institutional family office. they are not going to put 10% of their money into these bitcoin etf's but maybe 2%, which is a lot when you think about it. there is only 19 billion bitcoin

in existence. it is a fine experian -- finite resource. increased buying pressure unlike anything we have seen before in crypto, along with lower interest rates by the end of the year, you have a perfect storm that we think could be a price catalyst to get bitcoin over $100,000 by the end of the year. caroline: when you read between the lines, it feels like gary gensler really does not want to do this. he just put out a post, a thread of posts, talking about how investments in crypto assets could also be exceptionally risky and often volatile. a number of major platforms in crypto assets have become insolvent or lost value. investments in crypto assets continue to be subject to significant risk. he's doing this through clenched teeth if he does it at all. what if it does not happen on january 10? what if we are not able to trade immediately? >> i think it will happen in the

next 30 or 60 days but the question is wind as a go live? how long can he delay it from going live? april or may or june is realistic. past that he runs into legal risk and in his mind he is going to compromise like giving the bitcoin etf but not ethereum, etc.. the crypto community will be happy just getting the bitcoin out the door. ed: you mentioned harboring as a key event, future catalyst for bitcoin in 2024. many of the guests last week also referenced that. my question is what is your big picture bitcoin call for 2024? we started with the absolute belief that what was driving the trading of bitcoin or the price activity was anticipation of spot etf. there is plenty of evidence that there is a lot more to it. >> the -- alone would normally

propel bitcoin to an all-time high. what happens is in april when it happens, nothing happens, the price action goes down a little bit and then six month later, you really see the effects of it. combine that with the bitcoin etf, we think again, the price would go from $50,000 six months from now to $100,000 real fast. when it hits $100,000, it becomes a $2 trillion market cap currency and the media frenzy would be huge by the end of the year. we think q3, q4, you will see a lot of excitement over the price of bitcoin. caroline: beluga, you are saying that you are cutting through the noise and helping people understand which projects are the ones, the safest products to be interacting with, investing in. ultimately bitcoin is that, in investment, a store of value.

many people want to see from crypto, purpose, deployment, a change, a fixing of a problem. when does that become more nuanced or clear to an investment? >> that is what we are hoping, that at the end of the year, we see more products. we believe the mission of bitcoin and crypto is not just buy and hold. it is land, use, pay, etc.. there's a lot of things that can be done with bitcoin beside speculation. we are seeing a bunch of web three games happen. our goal at beluga is to get the other 90% to start using crypto in the right way. there's a lot more out there than just buy and hold. caroline: stay well. coming up, we will have the latest in the world of health tech. this is the jp morgan health

conference kicks off in san francisco but we've also got something else to look out for. ed: dual lingo, the language learning software company is cutting 10% of its contractor workforce. a spokesperson telling bloomberg about 10% of contractors were off boarded because the company wants to focus more work on ai, driving its development. no sharp reaction in trading. the stock was already up. this is bloomberg technology. ♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now.

ed: there has been a lot of m&a news in biotech.

-- about to be acquired by drugmaker merck & co.. johnson & johnson will pay $2 billion in cash to acquire -- gaining a developer of widely thought therapy is that target tumors with lethal drugs. we will break it down with vijay pande, founding general partner of andreessen horowitz. interesting timing, with jp morgan's health conference. i've covered a few of those. it is interesting though that there is some m&a here, in biotech, health care. what is your tea leaf read of that? vijay: it is fireworks, that is what we are looking for. clearly the ipo window has been closed for a while or has been barely open. m&a will be a national consequence of that. we are shooting to see a little bit of that this year, may be

more than last year but i think probably the big fireworks come in a year. ed: my experience with jp morgan's health care conference is similar to ces of the tech conferences in that it is the one time of year when everyone is in one place. you can take a lot of meetings. m&a is one exit started gee for avc like you. -- is an exit strategy for a vc like you. vijay: also the ipo window might open. interest rates might go down. maybe by the end of the year, q3, q4, that window may be open. people are preparing for that. the market has to be there of course. ed: you think people are there? vijay: i've seen people are there. caroline: vijay, ai has been almost what dictated the companies that could not get out of the gate last year. a lot of them had ai within a business model and they tried to

amp up the fact that it was not ai. is ai going to be a dictator of which biotech companies come forward or is it just them solving a real problem with profitability as a stance? vijay: the thing about ai is that last year was the year when ai was really sort of further developed and this year is when it starts to get implemented, both in life sciences and health care more broadly. that is something incumbents would like to do but it is hard, changing the way the company works and so startups will be a way to do that, and that is been the history of technology. caroline: what is interesting is that many on the optimistic side of use and practicality and necessity of ai talk up the impact on health care as a real reason that we should not hold back innovation for fear of it being a step too far and we should regulate it. from your perspective, how is that conversation going? generative ai and the impact on health care being safe? vijay: i don't thickets a question about not regulating it

because health care and life science is already regulated. the question is, do we need more regulation? given the challenges that we are facing in terms of curing diseases, treating patients, the opportunity here is to finally advance our space and we already have a regulatory framework to make sure that can be done safely. ed: one of the big stories toward the end of the year was crisper and the development there. we refer to biotech as a blanket term but within that there is so much. i wondered if you have a clear area of excitement for 2024, a specific technology or issue that you think will be challenged or tackled? vijay: we've talked about ai and i think what is happening right now is that ai is coming to bear at a time when biology is also fundamentally changing. biology is becoming much more of an engineering discipline. crispp is one example -- crispr is one example.

gathering huge amount of data is coming at the same time that we have ai to use that data. that, nation is something that we will see keep pushing this industry for the next decade. ed: venture capitalists are long-term long-duration investors with long time horizons but what is your strategy for 2024? what types of company will you invest in? vijay: i think we will see some advances in ai but the reality is even if ai does not advance even more than to date, the innovation is going to change our field. we are moving from an area that was the spoke with artisans to a true industrial result -- -- a true industrial revolution. we are looking to see who can put it to work. caroline: you thick of a portfolio company that is ultimately allowing r&d to be shared, stop some of the limitations and the paperwork and individuals sideload

particular labs have an inability to share your learning and drive it forward. when you're looking at your portfolio companies, how that enough in this environment to ensure that they are focusing on -- have they done enough in this environment to ensure that they are focusing on cost and growth? vijay: growth is a key part of a startup, but i think right now the opportunities that a lot of the startups and life sciences and health care have been on a different curve and i think as they become tech companies, ai is a very natural way for them to become a tech company, growth will come along the ride -- along for the ride. that is part of the excitement. we typically don't think of health care is a tech problem and as people start to refocus in think of it that way, we have advancements that come rapidly. caroline: vijay pande, i hope you will get all of those advancements. thank you so much for setting us up for the jp morgan conference. general partner over at andreessen horowitz. coming up, a breakthrough in another area of tech. rocket launches.

this time, for the pentagon space partner. we have details coming up. ♪ ed: i'm going to go back to shares of boeing. still down 6.6%. an update from flight records show us the specific airlines 737 max nine airlines. it's been 10 days in oklahoma city in the previous weeks prior to that flight, where the carrier's maintenance partner and work on it according to the headlines crossing the terminal. it was fitted with a wi-fi dome. it is not having a knee-jerk impact on the stock right now, but it is fast-moving and we are getting more details, which will bring you throughout the day. this is bloomberg. ♪

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caroline: going viral, an extraordinary story about how apple's promise for sturdy iphones may have been kept. after one was found intact after falling 16,000 feet from that alaska airlines flight 1282 this weekend. according to a user post, it was an airplane mode and still had hours of battery life remaining. flight 1282 was forced to turn back minutes after takeoff from portland when a few to lich blew off the plane and sucked shirts

and clearly phones out. no people thankfully. ed: let's get a different take on tech and aviation because united launch allowances -- launch alliances vulcan rocket launched from cape canaveral early this morning. about 50 minutes after liftoff, the rocket deployed a robotic luna lander and if all goes well with the mission, it could be the first privately made lander to successfully land on the moon. caroline: coming back down to earth, let's look at twilio. shares, they are doing well on the back of the founder stepping down as ceo, giving up his board seat even. we are going to dig into this with brody for. because investors clearly wanted this. this was an activist who found their moment because jeff lawson

finally gave up voting rights. >> when you start a company off, you have these high-powered chairs. jeff's art of the company into thousand eight and those shares expired in 2008. activist investors -- company in 2008 and those shares expired last year. a lot of investors i hear from say they wanted a switch up. i think this was expected. this came sooner than many folks anticipated. ed: jeff lawson out. what do we know about the new ceo that is coming in? >> the thing to know about him is he has pretty much been lawson's right-hand man. he was the cef -- the cfo and let their largest business unit. he is seen as more of a financial operations type, but at the same time, i have seen some folks say, if we wanted a change, why did we go for the next -- why didn't we go for an

external ceo? caroline: we will see how it continues to evolve with the investor base. for now, i push up higher on the shares. brody ford, breaking it all down. you are about to take a flight yourself, ed. ed: not on a boeing 737 fax nine but i will be off to ces and we have a tech daily out that the old kind of wacky gadget side of ces is still there. a big focus on ai gadgets, but as is always the case, look at the names on the screen. also a chance for corporate america to say we know about ai as well. caroline: everyone is a tech company, right? we've long had at that car companies have been tech companies but this is the ultimate proof point that tech is horizontal and not vertical. ed: it is the everyone is a tech company kind of line. one of the other keynotes is walmart. a big box retailer with an

increasing e-commerce presence. they are exhibiting on the ces floor for the first time. what does that look like if you are l'oreal, whose ceo will speak or some of the chip companies? qualcomm, their stories were ai in 2023, so what is new? caroline: also what the competitors are up to. nvidia leads the charge in terms of the encz mark because they do in induration on a chip for pc ai. it is notable that ai has to be the new business model if you will lead in this environment. ed: they have the weird stuff as well. robots that can mimic handwriting, high-tech toilets, those are things we will be checking out this week. caroline: just not on camera. ed: that does it -- caroline: that does it for this edition of bloomberg technology. ed: we post our podcasts on the bloomberg platforms but also

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katie: it is really happening. scarlet: this is the first of two episodes this week. katie: let's get right to the biggest stories right now in the more than $10 trillion global etf industry. this week we are potentially getting approval of u.s. spot bitcoin etf. scarlet: it is the perfect time to speak to the godfather of