♪ emily: i am emily chang in san francisco and this is "bloomberg technology." coming up in the next hour, ev stocks get a boost as president biden's mounts a major push to accelerate the adoption of electric cars. tesla shares rise before closing down. we will talk about at all with dan ives. plus, the global chip shortage. how bad is it? how long will it last?

more for my interview with ibm's ceo, arvind krishna. and social media spreading anti-science skepticism. how facebook and instagram are actually fanning the flames around misinformation for the covid vaccine and anti-vaxxers targeting women. all of those stories in a moment, but u.s. stocks touching record highs. bloomberg's kriti gupta has the whole picture. break down the day. kriti: emily, you saw a lot of green on the screen. the s&p 500 in the green. a lot of it on the surface looks very tech driven. you see the new york faang index, so up 1.4%. not substantially higher than the s&p 500 and that is because you saw a lot of sectors in the green, not just tech. even energy at the top of the pack. i really want to show you what the ev space was doing and has been doing. the big question going into today's market session was how much of biden's infrastructure plan and push into evs was

priced into the market. you see back during the election, you see this major run up until some stagnation, so that tells you that there has been a lot of it priced into the markets. will we see that ev space continue to rally? i want to show you some of the other pieces of the readthrough from biden's talk. semiconductors at the top of the pack. we know they have been rallying from the chip shortage and having another massive day, up 3.7%. he was also extremely tough on china. some very targeted comments towards that country. the nasdaq golden dragon index housing the likes of alibaba, baidu, also doing pretty good. the nasdaq biotech index was rallying, with even the big tech and things like semiconductors. emily: kriti, thanks so much for that roundup.

bloomberg's kriti gupta. meantime, after a hard year for most ev stocks, most getting a boost as president biden mounts a major push to speed up the adoption of electric cars. the president's infrastructure proposal unveiled this week allocates $174 billion to ev's, including tax rebates for consumers, in addition to various industry incentives. let's bring in dan ives. what does this actually mean for electric car companies, specifically tesla? dan: yeah, this is going to kick off the green tidal wave. in terms of tesla and gm, the reason it is important as they are going to whip the ceiling on

the 200,000 were now you will see tax credits are stored for tesla and gm. we believe that the 7500 goes to 10,000 or potentially more. this is the start of what i believe is a $5 trillion market with biden kicking off the green tidal wave in the u.s., which is underperforming when we compare it to china and europe. emily: so why this reaction in the shares today? they popped a bit before closing down about 1%, why did investors react that way? dan: if i look out, i think that ev stocks are up 30% to 40% from these levels. what we are seeing in china, you see around china is continuing

to see skyrocketing growth. you combine that with what we are seeing in europe across the board and of course, now in the u.s., i think this is just the start. i believe that is near term and all of the good news starts as we see more deliveries and numbers over the coming weeks. emily: you cover uber as well and i am curious what trends you see post-pandemic for car ownership, car purchases versus ridesharing? dan: i think for now, especially on the reopening play, the names like uber and lyft continue to be front and center despite some of the headwinds in the u.k. we are seeing more and more, especially in urban areas as there is an urban migration, that is a benefit for names like uber, but when we look at car ownership, i think we will see auto sales spike over the coming year in terms of reopening, but it is important that we will see a transformation on ev. today, 2% of automobiles in the u.s. are ev and that goes to 10% in the next four to five years. emily: what about tech more broadly?

are big cap tech stocks really reopening plays or is the incredible rise over the last year, are we going to see that change? dan: i think the selloff has been overdone. in our opinion in terms of the reopening, you take a step back, a digital transformation to the shift of the cloud, we are talking to trillion dollars in the next decade. this is really across the whole ecosystem with cybersecurity and others. there are poster childs seeing moderate growth, but i think we are going into a golden age for tech. the next three to four weeks, tech will rally significantly. that starts, what we believe, is a rally towards the nasdaq 16,000. emily: does regulation concern

you? we just saw the ceo's of alphabet, facebook, twitter testify on capitol hill and more scrutiny is coming. dan: definitely on big tech in the beltway, especially in section 230, which is broader in antitrust, we are seeing those swirls -- and i think it is a contained risk. no doubt this is going to be a long, 12 round battle, but the biggest risk for attack continues to be china. the u.s.-china tech war right now. we think about 10% risk right now with discount tech given the view that biden was going to be softer on china, and as we have seen, it has been the opposite, so that's really going to be a fork in the road situation over the coming months. emily: talk to us about some of your other more unsung tech reopening plays. you highlight in your notes, okta, docusign, crowdstrike -- talk about some of the names we do not talk about as often that

you think will surprise us. dan: i think on health care, there is a name like nuance. we will see health-care care spending increased amount on cloud. a new pure play on health care. that could be a re-rating stock, ultimately 60, $70. another name i like on the reopening is sarenza, which is an autoplay. i think it will be more and more driven internationally in terms of that almost being an auto cloud play, so i love those two front and center. and some other names on the cybersecurity side, hybrid environments 30% to 40% working from home potentially, you will see names like sale point on the cybersecurity side i think get another big lift as we are starting to see it out in the

markets. emily: where do you think we end 2021? dan: i think the ball drops in times square, nasdaq 16,000. i think tech stocks rally 30% from here. and it is my view, this has been a golden buying opportunity. i get the whole rotation trade, 50 bit move in the 10 year, does not change the multi-year bullish view in ev, so i think this will start to play out in the coming weeks with numbers that i think will really surprise the street on the upside. emily: all right, well, always love that you come to us with specifics, dan. thanks dan ives, appreciate it. meantime, investors are showing their loyalty to the famed ark investment manager cathie wood, adding a billion dollars in a

single day this week. her ark innovation etf took in a record $717 million on tuesday. meantime, the other took in another billion dollars on its first day of trading. coming up, ibm ceo arvind krishna took over when the world was in turmoil amidst pandemic lockdowns. i speak with him next about the company's next chapter and when quantum computing will truly transform the industry. this is bloomberg. ♪

♪ emily: as vaccines are administered around the world and pandemic restrictions loosen, companies are trying to chart a path forward. ibm's ceo, arvind krishna, says

that he expects 80% of their employees worldwide will go back to work in a hybrid model. i asked arvind what the next chapter of ibm looks like and how the global chip shortage is impacting their work. we started with ibm shares and whether that will be a measure of his success. arvind: investors only have the one measure, which is the stock price, and that is a definite part of the company's report card and my report card. let's step back. there is a strategy of what you do and then they how you do it. we are going to be a hybrid cloud and ai company, and then i would say with quantum into the future. the first thing we did is we sort of took out, and we are going to spinout and manage our infrastructure business, so that is a part of the service, so the pieces that fit the most stay here.

the pieces that don't, we will spin out to get value for our investors. next, how do you lean into being more of a hybrid and cloud company? we are leaning and with organic and inorganic investments. we have completed 10 acquisitions in the last 11 months and 25 days. that is one step, but you have also opened up money for investment in terms of are we going to invest both in our own organic innovation as well as our partners. i announced a billion-dollar fund that we are going to work with partners to enable them on our platform. you begin to put those things together and say, ok, you are increasing investment, you are focusing the company, you are spinning out pieces, you are acquiring companies, you are increasing your ecosystem with partners and those should all result in revenue growth in the medium term. now, you put all that together, and then you begin to say that

that is how you are going to value the company and my goal is that to create a hybrid cloud platform that is even more vibrant than the mainframe in the past, which is two platforms we had a lot of success with. emily: i know you are super excited about quantum and i speak to many people who say they do not think that quantum is coming anytime soon. when will we see quantum truly transform the industry? arvind: i give it a three to five year time period, which is not that long. you always got to keep your eye on the economic opportunity. i think the economic opportunity, not just for us vendors, but for the people who use it, is in the $450 to $550 billion range within the decade. so how much of that do those of

us that produce the technology get? the leaders in quantum stand to get as much as 100 billion dollars somewhere in the next decade. you say, when is it going to happen? i think it is quite real, so today you are having computers that are measured in cubits, quantum bits, 30, maybe 60 is the range for this year. we just announced a partnership with a cuban clinic who wants to use quantum computing, and that is an example where it's real problems. i will agree with you, it is not necessarily a commercial advantage or other forms of cloud computing today. i think that period will come in the next three to five years. we put out a roadmap to say we put out 1000 bits quantum computer in 2023. i think that is a bold goal. i think it's hard.

i will not tell you that we have every problem solved, but i have tremendous pride and confidence in our scientists and engineers. by the way, engineers are as important here as physicists to get these working in our time period, and that is where i will believe that we get on the roadmap towards that billions of dollars of advantage that i mentioned. emily: big news in chips recently. you are doing a partnership with intel as they are doubling down on manufacturing, doubling down on a foundry business. given all of the many industries that ibm is involved in and all of your diversity of clients, how devastating has the chip shortage been, and how much longer do you think it will last? arvind: so, whenever you get a constraint in the supply chain and you find that the sources and the manufacturing is down to one or two regions, this is going to last a few years. this is not a few months or a few weeks. so, we should be clear about the

impact. it is going to last that long. then you say you want to solve it, so we are working together with intel because we do believe that there should be alternate sources of fabrication and we do believe there should be competitive advantages in the more advanced nodes that are to come. we have a lot of work on 5, 3, 2 nanometers to categorize where we are. just by the way, the world today is at 10 and seven nanometers. we are talking about the next generation. we will bring our advanced r&d into intel, who will use the fabrication plant to produce at scale. we believe that is a great way to work together. we also believe that that will allow us together to be much better positioned to compete for the money that are in the chip stocks, endless frontiers, as well as the national semiconductor technology center, so those are all of the opportunities in front of us that can result from the work we

do together to advantage competitiveness within the nation. emily: ibm ceo arvind krishna there. you can catch the full interview at bloomberg.com. all right, coming up, anti-vaccine groups on social media have a new target, women, and they have been quite effective. details next. as we head to break, let's take a look at the original faang stocks all in the green. tech shares leading those gains. this is bloomberg. ♪

♪ >> just 12 accounts on facebook, twitter, and instagram account for 65% of all the vaccine misinformation on your

platforms. why in the midst of a global pandemic that has killed over a half a million americans that you have not taken these accounts down? emily: congressman mike doyle of pennsylvania expressing frustration to the ceo's of facebook, alphabets, and twitter at last week's house hearing claiming that the social networks have chosen not to take down accounts that spread vaccine misinformation. in our latest edition of "bloomberg businessweek," we found that the influence of anti-vaxxers have reached a particular demographic, women, especially women looking to become mothers. i want to bring in sarah kopit, who helped write the story. the story was absolutely fascinating. why have anti-vaxxers picked women as a target? sarah: it's really because it worked the last time. women have been the target of anti-vaxxers for quite some time because originally, it was with

mothers and their babies with the mmr, measles, so the anti-vaxxers used the same playbook that they had used previously because it works so well and that is what we are seeing right now, and it is resonating among so many women that my partner and i talked to for this piece. emily: what did the women tell you? because i understand that you got a lot of different reasons from women who were not getting the vaccine, and of course, the possibility of not being able to have a child was high on that list? sarah: yeah. we heard the gambit really. the most prevalent one was around safety. people took an exception to how quickly the vaccine was produced, how they wanted to wait and see really, and that is vaccine hesitancy as a definition. that was a really big chunk.

the fertility part was very interesting as well. a lot of that stemmed from a blog that showed up on social media in early december of last year, and that blog claimed wrongfully that the vaccine inhibits women's fertility. that really found itself all over the social platforms. that was just weeks before the emergency authorization was issued that allowed this vaccine to be given right at first to nurses and to first responders. and it was a lot of those nurses that we talked to at first. we went to nursing facebook groups, we went online and we saw the conversations they were having, and nursing as a profession skews very female. that is what they were talking about, questions about, well, if i am trying to become pregnant or if i am pregnant already, should i just wait? and that is vaccine hesitancy. emily: i just want to add that

there is no evidence that the vaccine has a negative effect on women or pregnant women or can harm a woman's fertility. in your view, just as an observer, how are facebook and instagram responsible? are they responsible for how it -- how this has proliferated on their platform? sarah: so, they are certainly trying at this point, but their algorithms, their business model, what they try to do is they try to reward really engaging posts, and that is what drives what you see on the platform. and we know just because of how we have studied this information over all of these years that lies really do spread faster than the truth. it is more interesting, more titillating a lot of times. we saw this with -- when this fertility blog went out, pfizer did come back with an answer to this question, does it affect fertility? and they gave a very robust,

scientific answer full of scientific jargon that we reference in the piece, and it is hard for that type of language to really resonate on social media. we say that the people who are giving the information have to do a little bit better. they have to live in this world where, you know, social media memes, that is what spreads. the scientific community and the companies, they hadn't quite caught onto that yet. emily: all right, well, a fascinating piece, definitely worth your time in this edition of "bloomberg businessweek." sarah kopit, thank you for sharing your story. coming up, the first company solely focused on quantum computing is going public. why the technology may soon be mainstream. that is next. this is bloomberg. ♪

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but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. ♪ emily: welcome back to "bloomberg technology." i am emily chang in san francisco. let's get a quick recap of the market's big movers today with abigail doolittle in new york. abigail: tech was the story today. big, big outperformance, particularly for the chip. that stock closing up more than 3%, outperforming almost near its all time high. one piece of this, taiwan semiconductors, they have boosted their spending plan so that really put a bid under some of the other chip names, including the machinery that makes the chip.

often, that is seen as an early tell. it is seen as a good sign, plus, in joe biden's infrastructure plan, president biden's infrastructure plan, 50 billion dollars dedicated to chip manufacturing, trying to bring more chip business back here. the chips really grew. relative to green power and ev, a little bit of split action. on the morning, huge surges in the spaces overall, and you could make the case that $460 billion of that same plan is dedicated to climate change, improving the climate, green power, ev space, however, we see here on the close a little bit of a mix. fuel cell and ballard power closing down. some of that could just be too far too fast. fuel cell and some of these other names are up in a huge way over the last year. just since president biden was elected last november, up almost 900% at one point.

it's really pretty incredible. let's round it out with the bigger tech names, because here is why we have the big outperformance for the nasdaq on the day along with the s&p 500 tech being near the top sectors. it is about your biggest companies, microsoft getting that $22 billion contract from the army, bringing the other mega caps higher with it. this is the catch up trade. tech not doing great on the year, but right now, investors want in. emily: exactly. all right, abigail doolittle, thanks so much for that round up all right, -- roundup. all right, from finance to farming, space travel, and cars, the world depends on computers to crack, crunch, and deliver numbers and automate the world's most complex systems. but these computers can only do so much. and as technology and ai becomes more ever present, the demand for more powerful computing is taking off. meet quantum.

quantum computing, the ability to compute information in a way that would never be possible with a conventional machine. in very broad terms, quantum computers can crunch and compute numbers at a faster rate than common computers. drawing the eyes of investors like ceo nicholas demasi that joint is back in september. >> consumer gaining and online casinos, the second was sports book data, and the third will be something probably in cloud computing, ai computing, like the kinds of technologies that underpin the future of mobile. emily: that third company, ionq making it the first company solely focused on quantum computing. we are joined by ionq president

and ceo peter chapman. why now? peter: thank you for having me on. as you mentioned, quantum computing is an entirely new paradigm for computing. and like many technologies, it requires more significant investments to bring it to market and becoming a public company gives you access to capital and resources. emily: so, mainstream quantum computing, how close is that really? we heard from the ceo of ibm earlier. he is really bullish on it, said three to five years. i spoke to another ceo who is in a position to know who says it is a long way off. peter: first, what i would say is that different technologies have different horizons. some of them like ours, we also think three to five years, but

there are other technologies in quantum that are still 30 years away. i do think that this is, the companies that make the devices are probably -- have the advantage point in being able to predict when they think they can bring a product to market. emily: so, how do you believe that quantum computing will change our lives as we know it, and tackle real-world problems? like what will be different possible as a result? peter: well, you know, quantum computing, many people expect that quantum computers will be able to solve many of mankind's kind of grand challenges, everything from direct carbon capture to new drug discovery, new batteries, solving strong ai, improving machine learning. since we are talking about much bigger computers, it is kind of hard to say where it will not be used. i do think it is kind of an

interesting question. if you were to go back to intel and ask them back in the 1970's, what did they think about the little microprocessors was going to be used for, and the answer back then was it is going to be a great calculator. they could not foresee the internet or cell phones having them. i think it will be the same today with quantum. there are a bunch of things that we know about today that we use classical computers for, but 20 -- computers for, but i bet you 20 years from now we will look back, and we could not imagine x, y, and z, so we are at the same place kind of for quantum as we were in the 1970's. emily: you mentioned carbon capture and i know that bill gates' breakthrough energy is one of your investors. i am curious, how could quantum computing revolutionize a company like amazon? peter: well, you know, the

quantum computing is good at solving optimization problems with a cost function. it turns out many business problems can be converted into an optimization problem. as an example, what is the optimal route to deliver a package to a consumer? that is something that logistical companies are very interested in. because if you can shave a minute off a driver's route, that is big for a company. so for somebody like amazon, on the amazon.com side, they should have a lot of interest and logistics applications for quantum. you mentioned bill gates. there, it's things like better carbon capture and -- direct carbon capture and better batteries, and even chemical applications. it turns out that in the production of fertilizer, it is one of the most polluting

industries on the planet that accounts for about 1% of all carbon emission. bacteria know how to do it in soils without any extra energy. we do not have a classical computer that can do that model, but a quantum computer will be able to do it. it is these kinds of things that we think quantum computers will be good for. emily: not to get too deep, but do you think that quantum will get us closer to the singularity where computers will not be able to process the things that we want to but will actually be able to understand what we are asking them to do? peter: so, you know, first, before i started at amazon, i worked at -- i am very familiar with singularities. but the short answer is yes.

i think there is good reason to believe that a quantum computer will be able to unlock that as well. i think in the next couple of years, [indistinguishable] emily: all right, fascinating. well, we will be watching on your path to public market. peter chapman, ionq president and ceo, thank you for joining us. apple's much anticipated worldwide developers' conference will be held again virtually. we are looking at what we can expect. this is bloomberg. ♪

♪ emily: apple's worldwide developers conference, slated for june, is once again going remote. attendees from all around the world and networking with other like-minded apple fans. "bloomberg tech's" mark gurman thinks that as the company is itching to return to in person events, this one will be remote. what can you tells about the event, what will be announced, and how will it roll out? mark: yeah, so wwdc is typically apple's most important event for the next year, and it always

gives strong indicators of the next hardware to come. for this year, unless apple shows an early preview of their upcoming vr/ar headsets, it will be a somewhat muted event. i am not expecting major updates to ios or macos. i think the updates will be on a moderate side this year, perhaps a bigger update to the software that runs on the apple and an -- apple watch and an update to the appletv software, but there are also new macs in the pipeline, new macbook pros with faster apple designed processors could make an appearance around that time. overall, i think it will be an exciting event for the apple faithful, but i am not anticipating anything major unless there is that preview of the headset. emily: how do you anticipate apple events will change going forward? i mean, will they always be remote or will they come back in their full glory with no changes at all? mark: yeah, i think apple events

will come back to the normal in person format as soon as possible. i do think they are going to do a little bit more of a blend with the success of the virtual events with the in person events. you will get everything that was great about the in person events being able to go hands-on, being able to be there in person, seeing the products be unveiled on the stage, but they will throw in a lot more videos on the big screens to give that virtual flavor. they will have pretaped videos of other engineers discussing products, they will have videos of people going inside the labs to see how the products are developed so i think you will see a nice combo in the years to come. emily: apple and -- amazon and google, excuse me, have talked more publicly about their return to work plans. we have not heard much about apple. what do you know about tim cook's desire to have employees back in the office? mark: in the beginning, the push was to get apple staff back into the offices as soon as possible,

and apple has not really talked about this. but there have been apple employees still at their headquarters and offices around the world for essential functions from the very beginning, all the way from march and the height of the pandemic. and they are using a four phased approach to return people to the office. phase i was the essential workers who were there from the beginning, and right now the company is in phase two, that means some employees are able to go into the office if they would like and work during certain days of the week. there is yet to be a full force approach to push everyone back to the office. i am expecting that to happen as early as the end of june into july after the developers conference. emily: meantime, it is apple's 45th birthday and tim cook sent a letter to the company that you obtained. he opens talking about the

making of transformative products that redefined technology, and i quote "we mark this occasion by re-dedicating ourselves to that mission and keeping it alive for a long time to come, rather than to remember it fondly as something passed." what do you think will define the next generation of apple products under tim's leadership? mark: yeah, i mean, under tim's leadership, i think we are talking perhaps the next five years or so, i think the three big remaining things are going to be some sort of push into the smart home, new-home devices, a more cohesive strategy. i think the second thing will be headsets. that would be the first to vr/ar headset that will go on sale next year, and later on, they -- later on, probably towards the end of cook's tenure, they will launch the ultimate ar glasses which should be a pretty hot seller down the road, and a little further out, probably going to be a self-driving car or electric car or some sort. those are the three big areas

that i am looking at for the rest of tim cook's leadership. emily: if all of that comes to pass, it will be an exciting couple of years. as always, thanks so much. meantime, we just got some breaking news. president biden's aides have set april 12 for the dates of a summit with various companies to discuss the chip shortage that we have been talking about for weeks now on the show. again, president biden and his aides setting april 12 for a summit to discuss the chip shortage with various companies, -- companies. companies invited to this meeting included samsung and gm. -- gm, according to our bloomberg sources. we will bring you more headlines as we get them. still ahead, in a pandemic world where more transactions are occurring digitally, financial crimes have surged. we will talk to the head of a -- of the tech unicorn which fights financial crime using ai after an impressive new funding

round. a reminder to stay with bloomberg for our special programming around the u.s. jobs report friday. mark walsh joins a panel of other economic experts friday morning. this is bloomberg. ♪

♪ emily: as the world undergoes a massive wave of digitization accelerated by the pandemic, feedzai, a cloud-based risk management platform has seen a 660% increase in financial account takeover scams and 250% increase and online banking fraud attacks. joining us now to discuss solutions for the rampant financial crimes, feedzai's ceo, nuno sebastiao. talk to us about how much and what kind of activity you are seeing just heading into 2021.

nuno: first of all, thank you for having me, emily. as you mentioned, we saw the impressive number increase. if you compare q1 last year and q4 last year, the amount in fraud scams, 250% online fraud scams, the amount of impersonations, so someone trying to pretend to be you to get access to your financial service systems, over 600%. it has been rampant and it was already happening. but with the acceleration to digital that was forced on us, it really blew up, and that they -- that basically increased the demand for these types of solutions. emily: so, the unemployment system for example was plagued by $63 billion in fraud as unemployment was doled out to millions of americans amidst a pandemic.

how does your technology, how could your technology help? nuno: i cannot say too much about that. when we work with systems like the one you mentioned, making sure that the money flows to the consumers. -- but when we work with high security systems like the one you mentioned, making sure that the money flows to the consumers, and that is where it needs to go, and it is done not only in an efficient way but a safe way. we work with organizations to ensure that whenever they wire money, for instance, ppp loans, we ensure that they get to the rightful people and to make sure that they land in the hands of the people that deserve it. not used for certain activities and we do this at scale now in the u.s., but also in many regions across the globe. emily: talk to us about your coming plans, you are working with kckr, any plans to go

public? nuno: it is interesting. we have been approached by a number of firms, and the same way that kkr chose us as becoming a leader in this space, we chose them because their vision is aligned with our vision. what they ensure is they understand where do we want to go, and our vision is to ensure that we become the platform five -- platform for financial crimes risk management, across all the touch points as a consumer. from the moment you are opening an account to the moment you are transacting. just to give you an example, up to 5% of the money that flows to financial services is used for money laundering. we make sure that does not happen, or that that stops. they realize that we would be the company that would become that player, they are aligned with our growth. my intention is to be that independent company, if that is

an ipo or another mechanism, we will see, but clearly they are betting on us in the same way -- betting on us winning this market the same way we are executing to that. emily: all right, we will be watching. feedzai co-founder and ceo nuno sebastiao, thank you for joining us. this hour, we have learned that president biden's aides have set april 12 as the date of a summit on the chip shortage that has been so devastating on the tech industry. sources saying that companies invited include samsung and gm. we are working to find out more. next week, we will be bringing you a very special program all about the global semiconductor storage. it is called "chip crunch." we will have conversations with ceo's, analysts, and of course the best of bloomberg news. that show is wednesday 5:00 p.m. eastern, 10:00 p.m. in the u.k., 5:00 a.m. in asia. speaking of asia, we will be bringing you a special conversation with baidu's ceo

and cofounder, with robin lee. covering baidu's surge. that is tomorrow across bloomberg television. that does it for this edition of "bloomberg technology." thank you for joining us. this is bloomberg. ♪

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