leader during this administration. macron says talks on multilateral issues are on the agenda. the thirdnnelly is senate democrat to support cia director mike pompeo's confirmation. heitkamp andheidi joe manchin have declared support. a look at come as early as next week. authorities in toronto say the driver of a van that killed at least nine people has been taken into custody. the canadian prime minister hasn't said that investigators are gathering information. and police say the suspect in a tennessee waffle house shooting on sunday has been taken into custody. four people were killed in that incident. authorities say that the 29-year-old had a gun in his backpack when he was arrested. bill cosby's lawyers have rested their case and his sexual assault retrial. the comedian did not take the stand. he is charged with molesting a woman at his home in 2004.

global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i melissa parenti -- i'm alyssa parenti. bloomberg technology is next. ♪ chang and thisy is "bloomberg technology." strong numbers for alphabet despite the backlash that other tech giants are facing. we take a look at their first quarter. plus, alexa is not enough for amazon. jeff bezos's latest ambition to build a domestic robot for your home. we will discuss his top-secret program. and facebook and twitter get ready to report. we set you up for the rest of the big week in tech as the media giants try to keep wall

street happy. numbers's first-quarter are in and of the google parent company reporting sales of $29.5 billion, topping estimates by $600 million. andings per share, $13.32, paid clicks jumped 55% as well, with expenditures for the tech giant more than tripling to $7.7 billion. for more, we will bring in bob o'donnell. i will in new york, start with collin. the ad business still going strong, despite privacy concerns. what is your biggest take away? collin: strong quarter for google again. the takeaway is that google is looking pretty professional compared to some of its competitors, namely facebook, today. i think that is pretty apparent in the way that google sort of

has not really said anything recently since the cambridge analytica scandal. they have sat back and said, this is all good news for us, i think, because we are the ones that look like the big guys, the more professional tech a company in this instance. emily: i didn't get off the phone call with the cfo ruth porat is we asked her about future privacy regulations, and how it could impact the business. what she had to say specifically by the new regulations coming into effect in europe. she said they had been working on compliance for 18 months. there is a robust privacy program and if they are building on it. "we feel well prepared to meet the requirements." i asked how it would impact the business and she did not give me a straight answer. she said "most of the business relies on keywords entered. we have a diverse ad business and we have been committed to the requirements." so my interpretation of that, bob, is that she is indicating that she does not see it impact

in the business very much. what is your take? bob: i think it will impact the business, but to be fair, search ads are different from those ads on facebook. there is a difference, i will give them that, but clearly we are going to see some impact. emily: how much? bob: that is the big question, how much. i will say yes, they are more adult like in the manner in which they handle things, but be honest, there was a story today in the wall street journal on the fact that google probably has more data on all of us banned facebook. -- than facebook. they have been ignoring some of these issues, but if we start to see privacy regulations come out come i think we could see google even more impacted by those regulations. now, for their business model is more balanced, so in that regard they may face more sanctions and yet not have as big of a financial hit as maybe facebook my. emily: i asked her about honest ad fact, that facebook and twitter is a they will support

-- say they will support. google has been notably silent and lawmakers have noticed this and that they have called on google to state their position. i asked her, why are you not publicly supporting this, and she said "we are continuing to monitor for threats and putting in place safeguards." she talked about the reports and the election ads, but what do you make of the fact that google has not stated their position on the honest ad pact? collin: google has been quiet. i think it goes back to what bob was saying, that the majority of their ad revenue is from search advertising, which is quite different from a lot of the other advertising. it has sort of been in the headlines recently, the social advertising with more of a display advertising type of format, that targets people based on what they know explicitly about different customers, different customers -

- while search advertising revolves around keywords, what people are putting into google. yes, google does make the search results different and they will target advertising based on stuff they know about logged in consumers, but it is different. so i think that is part of the reason why google has been a little bit hesitant to say nothing. i think it also goes back to they are waiting to see what comes of facebook and twitter, from more of the social advertising scandal perspective. emily: we are listening to the earnings now, the question and answer portion is starting. also on that call, what do you make of the broader trends you are seeing? she spoke to me about how the other big that's, which is - - bets, which is cloud and youtube, where they believe the investment will pay off. bob: i think there is a number of different areas we can expect as the alphabet grow their business.

obviously, even waymo, it is not generating revenue now, but the way they're positioning it is interesting and it could be very effective as people like -- run into certain issues. emily: we just got a quote from her on that. i will play that and have you follow up. take a look to what -- take a look at what ruth porat just said about the self driving car unit. >> we've achieved 5 million miles of driving on city streets, adding the latest one million in three months. we also announced a partnership with jaguar land rover for their fully electric vehicles. is really, it comprising a bigger portion of the other bets, because they have moved nest under the google umbrella. now you have google x, fiber, and that is the other bets at this point commanded is a big one. bob: it is. right now, this is small, the

revenue that they are getting a little bit from fiber, but longer-term committed terms of when we think about actual bets, waymo is the most important. and they have taken a different approach in that they are not trying to do more of the semi autonomous driving, they are trying to say, we know that people get distracted and we know the kinds of situations that have occurred will occur and we will wait until the technology can do the complete picture. i think that is an interesting philosophical difference from some of the other vendors. bottom line, that will be a good bet for them in the long run. i think we will see on the compute side then be able to drive ai services, like watson, you can imagine the google brand with another cloud computing service add-on that you referred to a little bit in the comments on the call earlier. fiber ruth told me that and verily are driving the revenue. the operating loss, $571

million, which may bring the google x and waymo investments into account. there has always been so much focus on these other bets, but i wonder if that will be less and less now that the pie is getting smaller. collin: i think that google does focus less on some of the other bets, primarily because it is so small compared to the main revenue driver, the advertising revenue is still high for them. they are the dominator there. it will be interesting to see, this quarter do not reflect too much of this scandal, of the cambridge analytica scandal with facebook, since we only had two weeks to look at. it will be interesting next quarter, are they growing the revenue pie even more as advertisers think about should i in facebook, bets or should i go some place better, more trustworthy come in google.-- more trustworthy, in

google. emily: would you agree that facebook's loss could be google's gain? bob: i'm not convinced. i think we will see a lot of advertisers rethinking where they are going. there is youtube as well, so there are different places. emily: so facing similar challenges in terms of what the advertisers, who kind of content the advertising is against, what they want to be associated with, maybe not white nationalism or terrorism. bob: i think we will see rethinking. advertisers are realizing, if we want to reach people, these of the platforms and calculate drive changes in the platforms. that's what they are doing with youtube, that is what they will do more with facebook and google, but the regulation issues will become a big issue in how google interprets gdp, and will they bring it to the u.s. we have seen facebook moving away from that. if they started a gdp our standards as a worldwide standard, which is some companies have done, that will

be the important difference as well. there is a trust issue that i think will play out over not just months, but more like quarters and years. collin: and one thing i do want to say, if there is anybody that sort of is looming in the background it is amazon. iszon is the company that really growing their advertising business very quietly. and they have nothing to say, because they have not broken out the revenue at all with advertising in their statements, but they could be the one actually gains even more than google. emily: well, and google is in the lead, then facebook. amazon -- collin: they are small. billions are around $2 that amazon captured in advertising revenue, but we have spoken with a number of marketers that are listing products on amazon and they are increasing their spent on amazon as much as 62% year-over-year. they are also offering amazon advertising platform, which is

the demand side platform, the ability to buy display advertising on amazon, but also on site off of amazon the advertisers can use. it is a competitor to google double-click. and as people look at that as an interesting way to say, we can actually use amazon's be hero and purchase data that they haven't consumers to target them -- have on consumers to target them. then you can see bank of america, who cannot list products on amazon, start using it as an advertising platform. emily: one other number i want to highlight, because of the change in accounting standards, alphabet have to report their gain on its own investments, investments like uber and lyft. we know that those investments, the gain was valued at $3.3 billion. they invested at uber at a $4 billion valuation. the value has skyrocketed. and thank you so much, bob and c

ollin. we will continue to bring you any headlines from this call throughout the hour. now to a stock we are watching, the shares of facebook dipping on monday as the cio of double line capital recommended shorting the social media giant. bubbles,d to equity saying that they are often popped by regulation and that "the interpretations matter" when looking at the apology from zuckerberg over the recent data incident. -- calling bitcoin the viable candidate to replace gold. he also said it could rise the $700,000. coming up, amazon taking over homes with alexa. but are robots next? details on our top-secret plan, next. this is bloomberg. ♪

emily: amazon is working on another big bet, robots for the home. according to people familiar with the matter, amazon has embarked on a plan to build a domestic robot. amazon hopes to begin putting robots in employees' homes by the end of the year, and a roll out in 2019 for customers could follow. we have brad stone and mark gurman. so many questions, but what they look like, how much easier will my life be? >> the answer to many of those is we do not know. we know that there is a toxic or project, no longer top-secret, called vesta inside at lab 126, the hardware division of amazon down in sunnyvale. people familiar with the project tell us that it is like a mobile

alexa. so the voice-activated assistance, but you know, on a mobile robot. something that could be a companion, like a domestic servant. this is something the tech industry has been dreaming about for decades and nobody has pulled it off. emily: some companies have tried. so what does amazon have, what is the unique edge that would make them different? >> as a company that have experience in robotics, because of their work inside of warehouses. they purchased a company for $800 million, based in massachusetts, working on this. they have some of the top scientists in computer vision, technology that is self driving cars used to navigate roads. now they are bringing it to the robot. so they are well-established and prepared to go down this road. emily: this could be in employees' homes by the end of the year, so does that mean they are far along? >> i think so. what we noticed on the jobs page is they are hiring rapidly mechanical engineers, optical

engineers, and so the project is ramping up now. i do not suspect we will see anything on the market in 2018, but certainly the optimistic projection is sometime next year. emily: so the concern is, will this replace workers or jobs? >> good question. i think in terms of the kiva robots we talked about, yes, but in terms of this home solution, i do not think so. it will not replace anybody's tasks, this will be like an echo, probably to sell you more amazon products. probably following you into a room where you do not have an echo. this could be used for videoconferencing. right now they have the alexa videoconferencing system, but it is not mobile. you put it where it is, it is plugged in. now imagine being able to be followed around with the camera, and that is something the industry has been playing with.

[laughter] emily: it sounds a little terrifying, to be honest. will alexa play a role? she has been learning a lot. amazon has been learning a lot about what we want and need, via alexa. so what role will she play? >> it make sense that the new robot would have alexa on board. but the technology does need to advance. alexa is not very conversational. i think the holy grail for technology companies is to create a robot that is a companion. the japanese electronic companies have been talking about this for a long time and they see as an elder care companion, or the way to solve the problem of an aging population. so if amazon is looking at the same problem, you could see a version of alexa when they make it more conversational, it could be useful to the robot. emily: what about competition? we've been using google home it is sometimes it is better than alexa and it is more informative, so where are the other tech giants on home robots? >> good question.

in terms of the tech giants, we know that google has google x, they have been playing with this sort of thing for years. apple has not talked about robots. but lg and sony, those companies in asia, they have been playing with robots. sony announced a robotic dog that barks and plays soccer, $1800. that is the price of a real dog, so you might as well get one of those. neither of the demos where that impressive. amazon wants to come in. >> and the pepper robot, which just rolled out in japan. right now, it is not too much. it is a companion and a greater. they are trying -- greeter. they are trying to get into the home. emily: ok, thank you both. coming up, the french president comes to washington. we will go to europe to discuss. this is bloomberg. ♪

emily: the french president arrived on monday for the start of a visit where security and trade are likely at the top of the agenda. this is president trump threatens to up and the trading system with china, and maybe europe as well, and digital the iran nuclear -- ditch the iran nuclear accord. macron has been building bridges with u.s. technology companies. caroline hyde is standing by to explain france's complicated relationship with technology. caroline, remind us what the stakes are. caroline: yes, the stakes are high when it comes to macron, because this is a man who wanted to talk of a startup nation. when he hit the campaign trail, remember he was only elected just under a year ago now, he was talking about redefining france in a business perspective, trying to make it seem innovative and a good place

to set up shop if you are a startup. notably macron has been really trying to build that perspective, cut red tape, make it cheaper to do business, cut your taxes, and invest in the startups. and there have been some ways of bringing in technology talent. macron andking at donald trump as we speak. emily: live pictures of the white house. president trump and the first lady. president macron arriving and it shaken hands with president trump ahead of this very important three-day visit. caroline, kevin cirilli actually, we will go to kevin, our chief washington correspondent. walk us through the agenda for the next three days. kevin: so president macron just now meeting with president trump. he was -- he arrived earlier at andrews air force base. he was looking for to a series

of trade meetings about a host of issues ranging from the iran nuclear deal, as well as the economic ties between france and in the united states. he went to the blair house, located across the street from the white house, before arriving here at the white house. from here, the symbolism will continue. he will plant a tree with president trump that the white house says it signifies the relationship between france and the united states. than the two world leaders will board marine 1, president trump's helicopter, the united states helicopter rather. they will tour the monument before going to mount vernon, a short distance away in virginia, where they will visit the grave site of president george washington, the first president of the united states. from there, that is when they will have one on one time, with discussions on trade, on iran, windows are likely to come up. tomorrow, the president will

host a state dinner for president macron. the first state dinner of this administration. the first lady playing a key role on that particular point. and on wednesday, president macron will address a joint session of congress. from the administration's perspective, they are noting all of the joint economic ties that the two countries have. emily: kevin cirilli, thank you so much. has justesident macron arrived and is begin with president trump. thank you, we will bring you more headlines as we have them throughout the show. coming up, talking about twitter and facebook, their earnings later this week. this is bloomberg. ♪

>> i'm mark crumpton. you are watching bloomberg technology. here is first word news. the french president and his wife have arrived at the white house, to kick off a three-day

state visit, the first by any foreign leader during the trump administration. the french president says talks on security, trade and multilateral issues are on the agenda. and a senate foreign relations committee confirmation hearing is underway for mike pompeo, president trump's nominee for secretary of state. at least three democrats have officially come out in support of the former cia director. senator joe manchin, heidi heitkamp, and joe donnelly say that they will vote for mike pompeo. the republican holdout rand paul is now on board. the one secretary-general is -- says a retreat in sweden with members of the divided security council had cooled down tensions over syria. he stressed all 15 council members fully support a political solution. >> the most difficult thing has been the relations to chemical weapons attacks. that has been until now, no agreement in relation to a mechanism of the abolition for

-- to be possible. mark: he added there was no solution to this dispute between russia and the council over determining responsibility for chemical weapons attacks in syria. global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. i'm mark crumpton. this is bloomberg. it is 5:30 p.m. in new york. and we have a look at the markets with paul allen. paul: it was a mixed finish on wall street on monday evening. let's take a look at how things should down. weaker, the s&p 500 up modestly, not that down as well. looking at revenue adding momentum, remaining strong. how we are shaping up in this part of the world, it is looking

quiet for futures, looking quite flat. nikkei futures trading out of chicago, a little higher. the aussie dollar is a weakening against the u.s., closing in on $.76. and the dollar is strengthening. the tenure with a 3% yield -- ten year with a 3% yield. aluminum slumping on the news that sanctions could be loosened. oil is closing in on $69. later today, we will have the aussie cpi. more from bloomberg technology is next. ♪ emily: this is "bloomberg technology." back to our top story, alphabet's first quarter generating robust growth in the

first quarter while spitting surged. and the company has shrugged off the privacy backlash against internet companies and their data heavy ad targeting businesses. we have been monitoring investors. we take a look at the cloud business. >> cloud is continuing its great growth. we are seeing it across the board. we are looking at larger interest. we see energy between cloud and g suite. we have been acquisitions, they are beginning to work in terms of driving synergies to cloud. emily: for more i want to bring in mark, who covers alphabet for bloomberg technology. we are always looking for more color on youtube, cloud, hardware, the big bets that google is investing in. are we getting more information about how these are contributing to growth? mark: not much. we saw the other revenue line, where they are throwing things

in the same bucket, growing over 40% this past quarter. the cfo mentioned cloud and hardware and youtube as key drivers of growth, but unfortunately unlike last quarter where we got exposure to the cloud revenue, nothing new this quarter to share. emily: talk about the highlights as you see them. over all, the ad business is doing well, despite the privacy concerns. we were speaking with analysts earlier his suggested that facebook could really feel the brunt of this, and google -- facebook's loss could be google's gain. mark: they have talked about how they have been preparing around the privacy regulation out of europe. then there was an entertainment comment about -- an interesting, and about bads around -- about the ads are around search. i think the big takeaway for investors was the spending.

you look at capex, it more than doubled. they spent more than $2.4 million in real estate this quarter. they are investing deeply in the cloud centers and the machine learning technology. they said that will not stop, said they will keep spending quite heavily on google. pointedhat said, it was out earlier that google may have far more information about us than facebook does, so has google just been quietly avoiding the limelight, and could they feel the brunt if regulation, or more legislation, moves forward? mark: i think that is what people are saying, any legislation is not going to be facebook legislation, it will be across the industry and it will google. google has put in place, they have dealt with this for longer than facebook, they said on the call today that they are always talking about the trust and safety of users. clearly their interest is to make sure that users feel safe

using their product, but it is likely that they are going to have to do with privacy regulatory issues, any of them that facebook deals with. emily: thank you so much, mark. i know you will keep listening in, now that the earnings are out. now tech insiders are gearing up for the two other big names reporting this week, facebook and twitter. we will have their numbers on wednesday. twitter at 8:00 a.m. eastern, facebook following the closing bell. to give us a taste of what is the come i will bring in salina frier. impactl we, sara, seeing from this cambridge analytica scandal and more on facebook numbers? >> that scandal hit in march, but people will be looking at changes that facebook made even earlier in anticipation of the problems of the, just the issues with people seeing fake news. so they have tweaked the

newsfeed algorithm to emphasize more from people's friends and family, as opposed to news and pages. we should be above the see the impact of that in this quarter. is that affecting engagement, ad revenue? we are not sure. there is another aspect, engagement. facebook users are spending less time on facebook. that is a huge issue. emily: twitter shares were also drowned down as a result -- dragged down as a result of what happened with facebook. how much of an impact will we see at twitter with the privacy concerns, that if they affect facebook, they also affect twitter? >> they have been able to stay out of the limelight. it is already public by nature, so most of the data that they are selling to the third-party services, to the advertisers, it is publicly available anyway. however, lawmakers are looking for jack dorsey and the google ceo to go to capitol hill and testify.

there will be questions from analysts about the impact of gdp arr, how they are responding to the cambridge analytica scandal, and how they will just advertising -- adjust advertising policies. they have mostly been shielded from the issues facebook faced. and a one of the days of zuckerberg's testimony, we saw the twitter shares increase, so there is possibly a positive tailwind for twitter. emily: facebook shares also increased because mark zuckerberg seem to do be doing well. but to be honest, the questions were not that great. what are investors saying at this point? mark mahaney last week who says he thinks this will be a blip for facebook. people are not going to leave because they cannot get that type of platform anywhere else. sarah: he sees it as a pr crisis. in some ways it is, because it is a trust crisis.

it is a problem with users feeling like they cannot trust facebook with data, but remember it is not just facebook. facebook owns instagram, messenger come all these other properties that can contribute to the bottom line and advertising revenue. emily: facebook is the moneymaker. : it is by far the moneymaker. but are people still coming to facebook? has there been a decrease in the amount of time that people spend on facebook? can facebook say that that was their decision, to try to -- remember in the prior quarter they said that they saw 15 minutes fewer spin by people because they are trying to shield them from fake news and it was for their own benefit. what if it is not by facebook's design and people do not want to be a facebook anymore? that is what investors will dig into to try to make sure that any of these changes in behavior

on facebook, that is what the advertisers care about, the more time people spend on there, the more information advertisers have and the more contacts around their ads. emily: give me context on what we expect from twitter with re-accelerating growth, engagement, and how it will play out as a result of their live streaming strategy. >> may have been improving. the idea was they have had a couple rough past years, and now they are stabilizing. revenue is expected to accelerate, daily user growth has. been accelerating and it is expected to continue a lot of that is because of jack dorsey's emphasis on artificial intelligence to really personalize the platform, so it is no longer a chronological feed, it is trying to give you the most relevant information to you. live streaming has been a great benefit to them. we see video advertising growing as their main revenue growth. advertisers love live streaming, it is a premium way to get their brand and messaging into a

natural environment. it is also more expensive, which is better for twitter's topline. they are starting to find their own niche. facebook has facebook watch, they have put a ton of money into it, but twitter is trying to say that we have a different strategy. we are not trying to compete with tv like netflix and hulu are doing, we are trying to be the second screen that can provide an augmented experience. emily: ok come i know that you will be bringing us updates throughout the week. thank you so much. ok, another stock we are watching, fox shares surge the most in over three years after investors said they were interesting and tapping into artificial intelligence to go along on the stock. speaking at the stone conference in new york, the ceo said that box is undervalued. this is their biggest intraday increase since january 2015.

coming up, should facebook employee more people to stop dodging ads? why the company's automated model may not be the brightest strategy, next. this is bloomberg. ♪

emily: the facebook ceo mark zuckerberg and hot water again. the founder of the popular u.k. personal finance website money-saving expert.com says he is suing facebook for defamation over unauthorized advertisements that use images of him. facebook asked users to report the ads to take them down. he said he has done that, but they show up repeatedly. we take a look at the heart of the business model, the handling of pretty much all of their ads, which is automated.

alex, tell us about the lawsuit. alex: so there was a great story a few weeks ago that talked about the dodgy companies that use third-party images, they might use somebody from shark tank to promote their products on facebook. this guy is suing facebook because he has reported the events and facebook says they will take them down, but he has a team working on this just a rapport the ads, and it does -- report the ads, and it does speak to their model. they have been able to scale quickly because they automate so much. emily: how has facebook responded? alex: it is a classic facebook response. they say, we do not allow misleading or false ads on the website. or on the platform. that is not true, because they are the website and platform.

so they are being slightly -- they actually place the ownership on the user and anybody using facebook's platform to report the ads, rather than doing it themselves, as they probably should. emily: obviously, facebook has been dealing with a lot here in the u.s. facebook executives will be testifying in the u.k. this week. so talk to us about what we are expecting. alex: on thursday, we will see cto come to the house of parliament and he will answer questions for this digital media committee. this is different from the way that things work on capitol hill. where there were two days of questions, but each senator had five minutes to question mark zuckerberg and each member of the house had four minutes. in the house of parliament, there are only 12 members of the select committee, and they have open ended amounts of time, meaning they will be able to ask

very pointed questions, and hopefully hold the executive into account if he is invasive and the way that mark zuckerberg was -- evasive in the way that mark zuckerberg was. emily: what is the expectation? is it new legislation. obviously, the ball is already rolling. what could we see from european regulators as a result of this testimony? this is really about establishing what went wrong, and we do not know whether that they were actually going to take action. the select committee, their job is to basically oversee the civil servants, and make sure that they are doing their jobs properly. looking into those decisions. what will be interesting is seeing how the regulators start to look at this differently. today, the european commission investigating apple's acquisition of shazam. they think that it gives apple too much data potentially on how

people use music. traditionally, we have seen european regulators look at the consumer interest in pricing. is ang at access the data privet and we will see how they use that approach when it comes to facebook, and of course with google. emily: ok, alex webb, thank you so much for stopping by. we will be covering those hearings later this week. in case you missed it, silicon valley, bloomberg technology made a cameo with two of the stars of the show. and here is a clip of what happened last night in the episode. >> welcome. today is a big day for you. 3, you before the box are coming out with a competing product. tell me what your new internet is and why they should be afraid of it? emily: stay tuned for more of "silicon valley" this season and maybe another cameo.

this is bloomberg. to theup, we will speak man behind the wheel of the chinese start her ride the robotics, looking to dominate the market of driverless cars by 2030. ♪

horizonhinese start up robot is looking to dominate the market for driverless cars by 2030. they are about to close another round of financing that will raise $700 million. the founder and ceo told bloomberg that the money will be spent on ramping up research capabilities. severalpect to raise hundred million u.s. dollars. we are going to have some of our

new strategies for investors. i think many of them you know, we of intel as our strategy master. this year, we will have another major player, the semiconductor global player, which is not intel, to be part of our team. and we will also have some major leading oem's, global and local, as our investors. right? so that is very exciting. >> how do you compete with the likes of nvidia or mobile i, what gives you the edge? >> we are totally looking at a, artificial intelligence -- at a new space, artificial intelligence for driverless cars. we have the technology facilitating the competition, very low power consumption, all

the way to the decision-making, like the trajectory planning. so this is a totally open new space. in this new space, everybody has the opportunity. we have the global level competence for technology and we have a really challenging traffic situation. and we have -- markets. putting all those three sectors together, we have confidence to deliver the cutting edge technology. >> facebook, alibaba, they are making moves into the chip sector. how much of an impact is that likely to have? yu: that is positive. i think it means that people really are pushing forward artificial intelligence. toy need to think about how really define and innovate the a.i. processes. that is great. i think alibaba and facebook,

their primary focus is for the consumer type of business. like selling the smart speaker's to the customers. >> it is not a director it to you at this stage? yu: no. we are doing something like a moonshot. and i think that they are not doing that same thing at that level, so we are not competing. >> whether or not the u.s. decision to erect barriers through its tech assets makes your business proposition more compelling. yu: i would say in reality, yes. because the trump administration will probably urge the chinese economy to spend more money. technology --re business. >> dear see yourself a -- do you see yourself as part of the made in china 2025 strategy? yu: i think one thing is for us

to be the leader by 2025. you know, 30 million cars in china encrypted with our processors. and we will be the number one player in that space. just think about it, by 2025 i think that most of the cars, i think 70% of the cars will be equipped with the a.i. processors. horizon robotics is going to be the only player in china, right? i do not see any reason that we cannot achieve that goal, to be the market leader. emily: horizon robotics founder yu kai speaking with bloomberg in beijing. walmart is on the verge of taking a majority stake in india's leading e-commerce company. the world's largest retailer

will spend at least $12 million -- at least 12 land dollars to -- at least $12 billion to purchase flipkart. that is all of our edition of "bloomberg technology." check us out at 2:00 p.m. san francisco. that is all for now. this is bloomberg. ♪ . . .

♪ >> u.s. stocks close out. the dollar climbs to a three-month high. >> googles parent alphabet closes, shares rose after the bell. >> at least nine people killed when a van