>> 30 minutes into the trading day, here are the top stories we are following. ai coming to iphones, bloomberg exclusively reporting that apple is talking with google's gemini ai agent -- engine. alphabet shares, soaring. cisco announced today they completed their 28 billion dollars acquisition of's in their biggest deal ever. chuck robinson joins in just a bit. coming up, increasing ev adoption predicted to boost sales into 2030. martindale will walk us through what he sees, ahead.

i'm katie greifeld, in new york. welcome to "bloomberg markets." looking at markets so far this monday, there is a lot of green behind me. the s&p 500 is up .9%. taking a look at tech, it gets even better. the nasdaq 100 is up 1.3% at a lot of that is thanks to what we are seeing in alphabet, currently up 6% on the heels of a bloomberg news scoop that apple and alphabet are considering a deal to allow the gemini ai to power new iphone features, sources telling bloomberg that the tech giants are actively negotiating a plan to let apple license the models into the new ios capabilities as soon as this year. alex webb joins us with the details. why does apple need google for this? alex: the assumption is that at

this stage apple is quite awake behind google in this space, technologically. google is one of the market leaders, up there with the load -- the likes of openai. apple is really fighting to catch up and have moved a lot of people from their car project into ai and it seems as though if the deal goes ahead it is tacit admission they don't see a likelihood of getting close to market leaders anytime soon and given that it could be an important differentiator in smartphones, this is a defensive move to make sure they have the necessary technology in the generations of iphone to come. katie: alphabet shares are soaring. is this a situation where google could partner with multiple companies? alex: we don't know, is the honest answer. it would seem unlikely, that

would be a bit complicated. the fact is that my production at least would be that if you say, hey, siri, you will then interact with an engine that is at least partially powered by gemini. that gives google an incredibly strong position, because it is of course the main competitor to apple in mobile device operating systems through android. most mobile phones, if not all mobile phones, with therefore in this circumstance have an ai interface powered by gemini. manus: output -- katie: before i let you go, let's talk about nvidia. the gpu tech conference kicking off in san jose. tell us about what we are expecting and what's being called the woodstock of ai. alex: this is about the next generation of chips that nvidia is going to unveil. the eight 100 is the existing model and they are moving

towards likely the be 100, which could be twice as efficient as the current status quo. the key thing is not just keeping technological leadership over competitors, who are starting to nibble at their heels. it is also about pricing power. if you are able to have the bleeding edge model, it gives you a huge ability to charge top dollar for the equipment. what we have seen over the past 12 months is that demand has driven a huge jump in revenue at nvidia, but they have also been able to increase their pricing and it is that combination of those two things that have taken them to where they are today and there was some concern that as more supply came online, it would give them less pricing power. the next generation of chips will help them retain a bit. katie: nvidia is still the runaway leader in the stock market there. thank you. let's keep the conversation going out with sarah koontz, cleo capital founder. one of the first things you say

in your notes is you think the market is missing, deep into ai, -- dissing how deep into ai some of the big names are. nvidia is seen as the incumbent here. companies like apple seen as playing catch-up when it comes to the landscape, from your point of view. 1 in might -- sarah: in mind that -- in my notes, apple has never been a company that leans into their own software. they do a terrific job making hardware in taking attacks on your downloads, and i think that is where they want to stay. companies like google, though, bloomberg just had a great report on ai robotics, recently. 10 years ago google bought seven robotics companies in six months. they rolled out intrinsic. they have been in these spaces longer than most of us have even

known the spaces exist and i don't think that is going to change. what has changed is because of the openai of the world talking about it loudly, they are starting to talk about it more, but the reality is they don't necessarily want elizabeth moran calling them into d.c. to talk about how much they know from ai looking at a search query. katie: that's really interesting. you are saying the lower volume is a quest to avoid regulatory scrutiny? sarah: i think that we live in an environment on multiple continents where it's impossible to avoid regulatory scrutiny. you don't necessarily need to tip your hand and tell your competitors what you are working on. we have seen with crypto and other spaces that i look at a lot, you can go a lot of -- a long time with regulators that don't know what you are doing but definitely want to put some laws around it.

with ai, there hasn't been a huge rush to talk about it. once you get past talking about how much you are selling chips for, like chatgpt. -- gpt, you get bogged down into deep science. it's not necessarily the best talking point when you have products that people love, use, and understand everything all day. why kind of go into the weeds on exactly what you are doing in your processing units? katie: that's a good point, a lot of the general population is still learning the language. but we are of course talking about the public markets. what are you seeing when it comes to portfolio companies, the conversation and the opportunity around ai? sarah: you know i have to talk my book. it's been exciting to see one of my companies really sort of have

a public debut in an interesting way over the last few weeks. they were founded by people that left google, they had helped to invent those processing units that some of the ai chips google has leaned heavily on use. they now use language processing units. so, they are building chips that are going to be a lot cheaper. the costs cannot be overstated. the chips are looking to come in 90% less than a lot of the existing ones right now. there has been a ton of investor support for them through some big names that are public and private. and they have also just had a lot of frenzy around fundraising. these are really smart people who have been working on this for a very long time and it is exciting to see them get love for it. katie: you are an investor in the private markets. what's the appetite among your

peers to step up and fund these companies with the likes of nvidia leading the chips space in dizzying valuations? sarah: so much appetite. lots of startups in the ai space are coming out with huge lock buster raises and we are only going to see more of that this year because even one billion dollars or $5 billion as evaluation feels cheap compared to where nvidia trades at. the other thing is on the secondary market, every get other email i get right now are people trying to purchase my secondaries and i let them know that i have no interest in selling, i know where this country -- this company is going, but there is a huge appetite all of a sudden for late stage investing. katie: that's a real sign of the times. it's hard to do but let's get the conversation broader than just ai. counting down to a big ipo, from

the likes of reddit there was interesting reuters reporting over the past few days saying that the initial public offering was four times the five times oversubscribed. i would imagine that that is a good sign in terms of them reaching targeted valuation. if that is the case, that reddit does ipo and lives up to the hype, what would it mean for the other tech companies in the pipeline? sarah: as they say on wall street bets, we are so back. it is helping that we are seeing bitcoin hit these record highs. the ipo window is opening back up. i think that there is, just given the activity in later stage investing, we will see more liquidity this time around in the cycle. i don't think that these later stage funds are going to do the same thing as last time where they just stay private forever. they need liquidity to get back and i think we will see more ipo's. my contrarian take is that we will see some re-ipo's.

some of the companies that took an ipo over the last bull run didn't do as well in the public market, they have been bought, they went private, similar to the story where they cleaned up operations and got back out there. i think we are going to see a mixture of long anticipated tech ipo's. katie: a lot to look for, there. sarah, really appreciate your time this morning. that was sarah from clio capital. coming up, powering and protecting the ai revolution, we will speak to the cisco ceo and the former's plunk ceo as the two -- former splunk ceo as they join forces. this is bloomberg. ♪

katie: cisco completed their acquisition of splunk deal ever. i'm pleased to say that joining me now we have the cisco ceo, chunk -- chuck robbins, and former splunk ceo, gary steele. number one, congratulations. number two, let's talk about the timeline. the deal was only announced in september and when you think about the appetite for these deals coming through and getting blocked, how were you able to secure approval so quickly? chuck: primarily, it was gary's charm. [laughter] hats off to our legal team, who we think did an amazing job just

providing clarity. it's reflective of the fact that we didn't have a lot of overlap in the portfolios. two other things, i think there is a general understanding, we try to help the regulators understand that from a cyber perspective this would be good for customers. it also speaks to the reputation both companies have with governments around the world. anything to add? gary: i think that sums it up. manus: gary, since you are the charming one, according to chuck, do you think that the signals that scrutiny is lessening a little bit or is it about specific factors around this deal? gary: i think it was related to the specific factors around the deal. as chuck described, there was no product overlap and collectively we can do a lot for customers from a cyber perspective. there was good agreement on that. katie: talking about your timeline, you were named splunk ceo in 2022.

you took over in april. how long into the job did you guys start talking? chuck: -- gary: we first met at davos a year ago. prior to that i had worked with scott heron. we had a prior relationship. he was on my board at an earlier company. there were good things. it took a while, but the conversations went well, we took it slow, we were thoughtful about the process and for my perspective i wanted to make sure we were doing right for our shareholders. katie: splunk had long been rumored as a takeover target. you had star port and freeman taking stakes in the company. did you entertain any other bids in addition to what you got from cisco? gary: if you look at the proxy that we filed, cisco was the only party we were talking to at the time, but i would say that

we had incredible support from our board members, private equity firms, including hellman freeman. it was always a very supportive relationship. katie: let's talk more about this marriage. chuck, where do you see splunk fitting in with the product in the financial strategy? chuck: observability, it's emerging and it is effectively trying to help our customers understand application performance, what is going on in their technology infrastructure. particularly in this world where you have hybrid cloud, multi-cloud, private cloud. that is one big area. the other big area is cybersecurity. if you think about the utilization of ai by the bad actors, we are going to have to do a better job of doing real-time analytics and detection and response.

in my view, we have to be able to take three or four different things that we are seeing happening at the same time. those independently might not indicate a problem, but together there is a problem. that data platform, with our detection response capabilities, the endpoints and the sources of intelligence that we have in our massive amount of intel that we see on a daily basis, we think it brings our customers the ability to do it in real time. katie: when you talk to the sell side, there's this narrative that you are trying to remake cisco is a provider of network services and lessen your reliance on one-time sales of equipment. how do you see the deal as pushing the effort forward? chuck: that is an accurate narrative. we have been moving into software. last quarter we had a milestone we had set to try to get to 50% of revenue coming from recurring revenue. we did that last quarter, a big move from eight years ago. combined, gary and the team

bring 4.2 billion. gary: 15% as at the end of the year. chuck: combined we have a rr of 29 billion, over 20 billion of software sales. when you add spelunking software sales to it. we made a lot of progress and we will continue marching on that pass -- path. katie: both of your companies have announced layoffs in the recent months. as you integrate, would you expect there to be further headcount reductions question mark gary: this deal was not predicated on costs synergy at all. it was built on revenue synergy and integration that we talked about, the new capabilities that we can bring to our customers. it was never a part of the plan as we put the integration together. katie: chuck, you had mentioned that when it comes to ai there is concern over the uptake of that being harnessed by bad

actors. i'm curious what you are seeing in the data when it comes to ai cybersecurity attacks. gary: they are becoming more sophisticated. it's just a new set of tools that bad actors can drive more and more sophisticated attacks. we feel very good about coming together in the work that we can do collectively driving great outcomes through the use of ai to make sure enterprise customers are well protected. gary: if i can add this quickly, we have an organization called tallow's that sees 20 billion threats per day. one thing we think we can do is take that intelligence and injected into the data platform that they provide customers and give them a new real-time visibility that they have never had before, so it is pretty exciting. katie: in the press release, this caught my eye, over the next several months customers can expect a number of new

product innovations across the portfolio with the innovation of splunk. can you give us color on what the products might look like? gary: we are early in the process but we have identified great opportunities to bring the technologies together to drive amazing outcomes for customers and we will be announcing a set of things in the coming months. so, stay tuned. katie: i hope to talk to you about that when it is announced. let's talk about the price tag and how large the acquisition is. $28 billion, the largest cisco acquisition ever. when it comes to this scale it tends to have a low success rate, when you look at the data. how do you minimize that risk? chuck: a couple of things. gary has been deeply involved in the integration planning. if you go back and look, even in the proxy we talked about our early conversation in january or february of 2022. and then the progress that he has made with this company, the

detailed planning that we did, we had our entire engineering leadership team involved in making the decision. every single person felt that this was the right thing to do. when you look at the financials, they were under appreciated because of what he was doing at the time. when you are picking up 4.4, some change, billion in revenue, growing teams, we are going to be cash flow accretive in your one. i think it's a pretty good deal. gary: i feel really good about coming together. the cultures are similar, the teams have worked well together, and we have found places to deliver great value to customers coming together. usually it's the momentum that makes deals work. i feel incredibly good about how we have come together so far. chuck: there's a lot of x cisco people at splunk, so they know

the culture and we are working hard to retain that talent and make sure it is a place they want to stay. katie: gentlemen, thank you so much. now, still ahead, we are going to take a look at the companies making social buzz in the social climbers segment, up next. this is bloomberg. ♪

katie: all right, time now for social climbers. i look at the stocks making waves on social media this morning. first up, joann fabrics, filing for chapter 11 bankruptcy as customers cut back on discretionary spending. the 800 and 50 stores will remain open for business. the company started publicly trading three years ago after being privately owned for a decade. weddell technology made the rounds after remote workers were

announced to not be eligible for promotions or able to change roles within the company. the policy changes are reportedly outlined in a internal memo that was circulated last month. finally, the nasdaq is back in action, the company saying it has resulted technical glitch that disrupted premarket trading for three hours this morning. it's the second disruption in about three months. you can follow all the latest company buzz on your bloomberg terminal. taking a quick check at the markets right now, it is still very much green on the screen. as you can see it there, across the board, from the s&p 500 to the nasdaq 100 and, of course, alphabet, after that bloomberg news exclusive earlier this morning. coming up, dynamo trucks seeing growth surging in the second half of the decade. martin down joints me next. this is bloomberg. ♪

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katie: one stock we are keeping an eye on is daimler truck. hitting record highs after a strong outlook earlier this month. for a deeper dive, we are joined now by abigail doolittle. abigail: they have been on a tear over the last two weeks. put into the context of competitors, it's a nice rally for this space overall on the year. up 38 and. volvo, 38%. two more companies are up 58% year-to-date, a big rally in the space. relative to dime itself, positive things happening, including the company seeing demand for trucks normalizing this year as they aim for a 15% reduction in operating costs.

what investor doesn't mind that? they are saying that transition, not surprisingly, to e-trucks, somewhat costly. investors, be on the rally for the year, they are looking at increased dividend to 190 euros. by 2031 they are expected to be at 270. nice growth, there, along with this years's growth in the stock. katie: thank you there to abigail doolittle. for more, we are joined by martin daum, the ceo of daimler truck. let's talk, of course, about the revenue forecast. you reported earnings earlier this month and shares have been surging to increase as much as 60% during the final five years of this decade. on the call you said that was thanks in call -- in part to a sales boost from zero emissions

trucks and buses. what gives you the confidence that this will prop up margins? martin: first of all, it props up revenues. one thing i was always clear from, years ago, electric vehicles will always be more expensive than the expensive -- then the combustion engine. combustion engines emit co2, and if you want to get rid of it it gets more expensive. it's an easy equation. katie: looking at the u.s., ev demand for passenger vehicles is falling off a cliff. a lot of automakers have scaled-back production plans. we are talking about commercial vehicles, course, a different kettle of fish, but do the struggles give you any concerns about the plans?

martin: no, and i like your expression, different kettle of fish. it's interesting. you buy a truck to move goods. you buy a truck, you never buy it out of fun or to impress your neighbor. therefore, it's an easy equation. if it is more efficient to move goods from a to b with an electric truck, everyone buys one. if it's not, nobody would buy one. every thing else, the price of co2 is very important. any type of regulation from the regulators. katie: kettle of fish, i will have to think my mother for the term, she uses it all the time. let's talk about your margin projections, 10.5%. that's even as you see unit sales declining. can you walk us through the math? margins are healthy, sales are declining, does it come down to

higher costs on your part? martin: first of all, we are a cyclical business that had record years in 2022 in 2023 and i use the word normalizing, it's not a bad year, it's just the normal average amount of truck any society needs to keep it going. anything you sell more and more of, then less and less, so a normal year is basically good. this is what the trucking industry is like. however, revenue stays the same and it comes through pricing, spillover effects from the previous years, and more importantly it comes from extended service business, which parallels the expansion of the last years and is a huge source for a significantly increased profit in the last couple of years. katie: normalization there, that i'm in kurt -- i'm curious about input costs.

raw materials right now, how do costs compare to what we have been seeing over the past couple of years? martin: those markets don't go as much up as we have seen in the past, but it is a huge mixed bag for us. especially important is aluminum, steel, and everything else is awash. on top of the raw material, what is far more important at the moment is inflationary tendencies. we have seen a lot of that material purchased from suppliers. it's always the same discussion. raw material, it's easing, but on the others either are inflationary costs. especially in the u.s., when i think about new contracts, that ultimately puts a -- continues to put pressure on our material, the other side putting pressure on pricing to customers with raw material here not being the decisive thing. katie: a lot of different input when it comes to raw materials.

getting some perspective on the competitive landscape, elon musk recently said that tesla is considering building an electric semitruck in the german plant near berlin. how do you view the competitive landscape? tesla is aiming at producing a truck at the same price as a diesel engine truck. how are you viewing that? martin: first of all, two things are wrong in that statement. i respect elon musk, but number one the truck that he presented to the markets in the united states unfortunately is too long for europe. he needs to read we designed that truck. secondly, to sell it at the same price as a diesel truck, even for tesla, that's a little bit of a push. i haven't seen that in their pricing in the united states. he wants to sell in the united states tons of electric trucks and he hasn't done it. in fact we outsold him by a factor of 15-1 in california in

2023. so, i welcome competition and am looking forward to seeing him in europe. katie: i appreciate the clarification and it sounds like you are confident in your position on the global scale. martin: yes. look, we built 20,000, 530,000 trucks. no problem for us to build 500 50,000, 560 thousand, giving us a certain amount of scale. and the trucking industry is highly diverse. you cannot win the war with just one truck, you need hundreds of different types of trucks all coming out of the same toolset. that is what the big players say in the market and you had them initially on your chart. that is what we all can do out of the same toolset, build out hundreds of different variants

of trucks and that's it difficult to replicate. then there comes the service network, which you need coast-to-coast in the year -- in the u.s.. that's a high hurdle. i would never say it is impossible, but it is a very, very huge undertaking. katie: martin, looking across the competitive landscape, would you expect to see any consolidation when it comes to the trucking industry? perhaps lead by daimler? martin: definitely, we are consolidating the industry enough. we have global players across the world. if we come to a world where you are allowed, if we are even in antarctica with a couple of expedition trucks. therefore, we have, we have covered the world. we cover every single segment. if we grow, it is out of our own strengths. katie: really appreciate your

time on this monday our thanks, worse, to martin daum -- thanks, course, to martin daum. daimler, a huge rally after reporting earnings earlier this month. now we check on the broader markets with abigail doolittle. abigail: quite a rally for stocks this monday. the nasdaq one -- nasdaq 100 is at session highs, a lot of it had alphabet and apple, with stocks higher over the negotiations that are happening there to put the gemini ai tools potentially on apple phones. as for the rest of the markets, they are also much higher. the s&p 500 is up 1.1%. you can see the tech index outperforming, up one point 6%. nvidia, this is of course today the kickoff of their ai event. some calling at the woodstock of

ai, 100,000 people are expected to attend this week. the stock is up 2.9% after climbing last week again, but it had been a rocky week into exploration and now it seems that the reset is positive. as for nvidia revenues, that's positive, to. -- too. this is incredible. it's for 2024, 200 66% growth. that's absolutely unbelievable, given the fact that last year, prior to that, not so shabby at 100%, but once you factor in the ai its triple digit revenue growth. katie: absolutely, the revenue growth has been something to watch. coming up, what does the future hold for tiktok? we will ask a professor at the nyu school of business, next. this is bloomberg. ♪

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abigail: you are looking at a live shot of the principal room. coming up, ryan lance joined a bloomberg tv -- joints bloomberg tv at 3 p.m. new york time. this is bloomberg. katie: time now for wall street week daily. today we take a deep dive into the future of tiktok and how the short form video platform can be regulated. joining us to help us get down, arun sundararajan, professor of statistics at the nyu stearns school of business, and the author of "the sharing economy." as well as david westin, in this is an interesting conversation on the heel of the house vote. david: great to have you back with us. we know that the house bill was overwhelmingly approved, bogged down in the senate. the bill, if it became law, what

would it do? it's not a ban on tiktok as such. martin: -- arun: no, it's not. it's about divesting and making it u.s. owned. even that's ambiguous, because bytedance itself is owned by global investors, the same people who typically make big investments in successful startups. if it did become a law, if this requirement came into place, the chinese government might actually take us by surprise and not block the sale of tiktok. from the point of view of the chinese government, tiktok represents the first real big success as far as a consumer facing application that is china-based. the chinese government may think that having more of these in the future expands the country's

cultural influence. it's in line with cultural objectives of the government. they don't want to scare off future tech companies from trying the same thing. if they don't -- i mean, if they decide not to divest and tiktok gets shut down in the united states, it would have a significantly negative economic impact on the millions of tiktok creators and the economy as a whole. i want to get into the why of the this even happening. this conversation around tiktok being a national security threat has been ongoing for a couple of years now. what proof is there on the part of the government to prove that? i don't -- arun: i don't think that you and i have access to what's motivating the bill or the fact that the chinese government exerts control over tiktok. there is an information filtering threat, potentially. i don't know if this exists or

not, but the algorithm that underlies tiktok, you know, determines what hundreds of millions of u.s. teenagers and other people see. katie: and 30-year-old women. arun: you know, and indeterminate aged professors. [laughter] there is informational control around data. where is it going, who has access to it? what really worries me isn't so much the issues relating to tiktok, but a couple of other things. one, the language of the bill is not specific to tiktok. it mentions bytedance and tiktok, but broadly mentions platforms controlled by a foreign adversary. we could have a president in the future who decides to use this language to go after other platforms that are not aligned with what this president wants to do. plus, it puts the u.s. in a place where they are sort of

firing a salvo in what may become a global protectionist war. the u.s. has to remember that from the point of view of most other countries, their social media platforms are foreign owned, right? owned by meta, google, u.s. companies. again, looking down the pipe at a potential future in which, say, eu countries start to see the u.s. through a more adversarial light, we don't want them saying -- well, we want our social media platforms that operate in eu countries to divest themselves from u.s. ownership because we are worried about undue influence that the u.s. government is imposing on those societies. so, we are in a sort of weak position when it comes to this protectionist war. as we know from game theory, it's easy to start one of these wars, it's hard to get out of them. given the dominant position that

the u.s. has in the tech sector, globally, it's not clear that going after foreign ownership as a basis for setting policy is in the long-term global interest of the country. splunk some of these -- david: some of these complaints could be made about facebook, other domestic companies. in terms of overlap, why are we not going over after -- not going after all social media, especially when it comes to the news that we receive? arun: this is a great question. over the last several years we have entered a phase where we have fact out handed over a wide variety of government responsibilities the platforms. it used to be the government set policy may came to things like censorship. in terms of other responsibilities, to your point it has happened de facto.

it's not like congress has sat down for a new division and a new social contract. they have just wandered into a new space. it's about the rights of data and who controls content filtering. unclear what to do over content filtering. the reason congress is not going after more weighty issues is they are much more complex. they are much harder. i think it's easier, china controls these platforms, let's get them to divest. it may not be the truth but it scores political points. katie: i'm interested in your thoughts about this for the likes of meta. meta, if you look at threads, you write in your notes that it would be a short-term positive for meta. why only short-term? arun: if tiktok is shut down, a

lot of people will try to take their influencer businesses elsewhere. meta's instagram or google's youtube are natural destinations. the thing is, tiktok is fundamentally different. they are all social media platforms, but tiktok is a different form of content, has a different audience, different sociology. it's not as if these influencers are going to necessarily be able to be able to make the transition to instagram. i think about it with this analogy, let's say all strip malls had to be shut down. this is a physical world channel. it could be argued that there is plenty of vacancy and traditional malls. they could set up as this is there. this a be a short-term hit for anyone who is operating the business out of one of these

strip malls to begin with. and it's not clear that they will be able to make the transition. the foot traffic is different, the competitive dynamics are different. it's a different business model. a lot of these businesses would shut down. when i say short-term, i mean that this would bump meta and google stock prices, but it's not clear that the transition would complete itself in the long run. katie: unfortunately, we have to end the conversation at the tip of the iceberg. arun sundararajan, thank you. david, like you said at the top, looks like this bill is going to get bogged down in the senate, but it is an interesting thought exercise. david: it's not going to go away. why not have reciprocal rules in china? china doesn't allow facebook into china, why do we allow tiktok in the united states? katie: a lot of big questions there. david: friday, the big fat

decision, we talked about whether that makes sense for you. we also have former counsel director for president biden about electric vehicles, having trouble despite the subsidies. we talk about where that's going after the trump remarks about a bloodbath if they don't keep out the chinese imports from mexico. katie: lackluster ev demand is taking many of i surprise. a lot to there. thank you to david westin. this is bloomberg. ♪ [alarm beeping] amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. why not? did you forget something? my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen. 100 innovative companies, one etf.

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get started today at constantcontact.com constant contact. helping the small stand tall. katie: all right, let's take a quick look at the stocks hitting highs this morning. we kick off with chipotle hitting a 52-week high after the price target was raised to $3265 at argus research. that is good for about 7/10 of a

1% gain. energy is hitting highs after reports that the electricity company has takeover interests good for a 1% gain. taking a look at the broader markets, zooming out to the s&p 500, the rally is building. up now by more than 1% on this monday. taking a look at the nasdaq 100, of course a lot of that comes back to alphabet. this is after the blue that howard ai futures. that's being rewarded in the stock market today and raising the entire benchmark. coming up, we have brent fill, jeffrey's equity analysts, joining caroline hyde, coming up next. this is bloomberg. ♪

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> this is caroline hyde and ed ludlow. -- this is bloomberg technology with caroline hyde and ed ludlow. caroline: i am caroline hyde in new york. ed ludlow is off today. this is bloomberg technology. apple and google in talks to use apple's gemini ai -- google's gemini ai in iphones. plus, the woodstock festival of ai kicks off today with nvidia facing sky high expectations for investors. we will have