>> this is bloomberg technology with caroline hyde and ed ludlow. caroline: i am caroline hyde in new york. ed: i am ed ludlow in san francisco, this is bloomberg technology. caroline: coming up, we break down meta's results and push ahead to amazons after the bell. ed: our interview with the ceo of activision lizard as u.k. halts the deal. caroline: we speak with keith

rabois to discuss investment opportunities outside of silicon valley. once again, second straight day of gains on the nasdaq, leading the charge. it seems to be anxiety leaving us when it comes to tech earnings. still, there is worry about the u.s. economy, the growth slowing in the first quarter more than expected and the inflation risk still evident as consumers are spending. up 1.7% on the nasdaq, two year yield up by four basis points. i want to shine a light that asia did relatively well, china moving a little higher. european stocks on the upside, bouncing back after a big selloff yesterday. look at what other risk acid is proving volatile. check out the moves on bitcoin the last couple of days, above 30,000 then dove back down, everyone scratching their heads as to why. the quiddity seems to be the key issue of the day. act up 5%, almost 30,000 once

again. go micro for a moment. ed: we had a lot of headlines in the world of technology, dropbox off by 2.2 percent, cutting 60% of its global headcount. we will bring you those details later. mobileye down by 24%, the biggest drop since it went public last year, cutting the four year forecast. amazon ahead of earnings, we've been getting to the preview later in the program, but there is buoyancy in the program from what we have heard from other tech companies. microsoft them alphabet and meda last night -- meta last night. investors like what they see come up 8%. there is one story, which is meta. 29.5 billion dollars to $30 billion, at the low end it was above consensus. you have the pivot, six minutes spent talking on ai by mark

zuckerberg, 30 seconds talking about the metaverse. cost efficiency, cost efficiency, cost efficiency. they are investing in infrastructure. the big picture is the bread-and-butter, business is doing well and they are committed to being a leader in that space. caroline: that was notable, the length of time in the short duration they focused on the metaverse, the long duration focused on ai and generative ai. let's talk about the business a little more, debra aho williamson in the studio in new york. welcome. tell us about what you made of a bounce back in advertising. will that proved resilient? -- prove resilient? debra: that is a good question. we are seeing a lot of rejoicing over what has been small growth and ad revenue quarter year-over-year. we are not in the area and we probably will never again be in

the era of double digit ad revenue gains. i think investors are really looking at flat is good, single digit growth is a sign for rejoicing. honestly, meta is showing some signs of coming out of the woods. i think the q2 guidance is also pretty strong and if they can meet the top end of that guidance, that will give them their first double digit growth in quarterly revenue since late 2020. overall, potentially positive. caroline: quite a pill to swallow if you're waiting to hear whether you are going to lose your job or not. how do you think morale will be affecting productivity right now? debra: there is a problem with that. i think the larger effect as well, in addition to the many thousands of jobs, the larger picture is this is also

potentially damaging some of the innovative spirit we have seen at meta over the years. this is the company that basically popularized social media and built so many amazing features. the work in the metaverse, ai, there is a lot that meta wants to accomplish. with morale being low and people worried about layoffs, it is hard to get that enthusiasm going. that is what i worry about. ed: look at the stock reaction, biggest jump since early february. there are investors out there that are questioning why, have a listen to what one investor told us earlier today. >> i was surprised at meta's earnings, i did not expect growth in users, i did not expect to see the positive news coming out of ads. i expect a lot of the efficiencies that people heard, that had already been priced in as well. so i am a little surprised at the game that we have seen.

-- gain that we have seen. ed: what was interesting is susan li's role in all of this. remember was happening a year ago, the war in ukraine. how do we discern the health of the ad business at its core? debra: there's a few really strong indicators to look at. the first one is, during the earnings call yesterday, susan talked about growth from e-commerce advertisers, particularly china-based e-commerce advertisers, looking to reach consumers outside of china. we have not heard meta talk about these types of advertisers so positively in the past few quarters, so i think that is a good sign. another thing we are looking at is a certain type of advertising program that meta offers called advantage plus, advantage plus is aimed at helping the bottom line for advertisers. that is done well. as we see that take off, that

will present positive signs as well. ed: i do not know what you had on your bingo card for last night's earnings call, but artificial intelligence was on everyone else's. it was interesting to hear the cfo, quite new to the role, that she was not just in command of the numbers, but she was giving some fighting talk on ai strategy. debra: mark zuckerberg talked quite extensively about ai, as well. he made a strong point that -- he is trying to correct a perception that meta is not moving away from the metaverse, it is pursuing the metaverse as well as artificial intelligence at the same time. he believes strongly -- in my opinion, this could be a change in message -- but he believes strongly there are many ways that aim the metaverse can come together over time. my position is that ai is something that meta needs to be involved in, whether it is generative ai, predictive ai or any other form. it is the buzzword of the

moment. the metaverse -- they are continuing to invest, it is hard to know exactly where and when that is going to pay off for the company. we have heard enough time for mark zuckerberg over the past few quarters that they are committed to it. investors in the market just need to accept that and focus on the rest of meta's business for more signs of growth. ed: it was written in a blog that this was a sassy mark zuckerberg, he had a lot to say about things but made a clear point on misinterpretation of strategy. caroline: sassy, but does measurement tell us the real story? i am looking at six minutes that he discussed generative ai in his opening and 90 seconds that he discussed the metaverse. that speaks volumes. i'm interested in what you make of the overall loss, the investment in the metaverse at the moment, and how long investors will give them a leash on.

debra: it is an incredibly large amount of money. $4 billion just this past quarter alone, something over $13 billion last year. this is definitely something that should be weighing on the minds of investors. at the end of the day, this is not advertising supporting business, this is a company with a vast majority of their revenue does comfort advertising -- come from advertising. we need to pay attention to what is going on in the advertising model and where they are making gains. last quarter looked pretty good, signs are perhaps next quarter will look good, as well. this is a long year of efficiency that mark zuckerberg is talking about. we have a lot ahead of us. ed: i think it was lowered from $92 billion to $90 billion. debra aho williamson, thank you. the other big name reporting after the bell is amazon. reporting earnings, this big beast, it is winding down some

areas in health. let us bring in matt in seattle, there is one key area of focus, that is the cloud. matt: the club used to be amazon's sure thing. that sure thing is definitely gone at this point, in terms of other sales growth. it's been slowing to record lows since amazon begin breaking out the figure back in 2014. investors are looking for when that bottoms out. is that something later this year? is web services growth going to hit single digits? you can overestimate the importance of cloud for amazon. caroline: notably, they've been taking staff out. they are making headcount cuts across the united states, canada, costa rica, which i had not realized it was so prevalent there. we start to see the focused on profitability making all sorts of cuts, or will we see a driving force of growth, or do we have to wait because retail sales looks like the consumer is

strong, according to macro data? matt: you go back to the holiday quarter, retail sales held up ok. i think investors have been patient waiting for the benefits of those cuts to come down the pipe, but we are at a year here since amazon said this quarter a year ago, we have too many warehouses and people and it was the first flashing warning sign that something was up, and they would have to start rationalizing across the business. they've been working at that for a year now, so i would expect hard questions from management on when that will translate to improve margins. ed: what are the fun things to look for? we hear anything about artificial intelligence? matt: i suspect we do, amazon jumped into the race just this month, announcing they had their own set of models designed to go head-to-head with open ai, chat gpt and friends. i expect we hear a good deal about that. it was also a feature of the ceos letter to shareholders earlier this month. i am curious if andy jassy shows

up on the conference call, jeff bezos decided not to speak to analysts for the last decade plus of his tenure in the company, andy jassy surprised everyone by showing up. caroline: they've been doing ai for decades, they keep trying to remind us. great to have that look ahead with you. coming up, we bring you our interview with activision blizzard ceo bobby kotick. this is bloomberg. ♪

ed: u.k. competition in the markets authority blocking microsoft 69 billion dollar takeover of activision blizzard, the ceo bobby kotick says the deal will prevail, have a listen. bobby: it clearly is a rational conclusion -- an irrational conclusion, we have every expectation we should prevail in an appeal with the tribunal. we are very fortunate. you saw our first quarter earnings, our employees continue to be very focused and engaged in delivering great games for our players around the world. we had bookings up 25%, gap earnings were up over 70%. business is strong, and i think we are going to continue to focus with resolve on the

remaining countries that we are securing approvals from, and we think the appeals process will work in our favor. ed: that is the question. i look at the earnings statement across titles and franchises. strong. if earnings are so strong and the growth story is still there, why does activision need to be bought by microsoft? bobby: 98% of shareholders approved our transaction, and i think one of the things you realize is there are increasingly larger number of competitors, whether it is google or apple or netflix or tencent or alibaba or nintendo or sony. there are so many companies that are competing in our industry, one of the nice things about a combination with us and microsoft historically has been an enterprise focused company is we are hopeful to attract some

of the great ai and machine learning talent, data analytics, ui and ux talent. there is an enormous amount of talent at microsoft that if we were able to have access to, would allow us to grow better. kellan has been challenging in areas like ai, where everybody is looking for it. ed: again, across titles and franchises. what caught my eye was king and candy crush continuing to grow. how does king fit into the relationship with microsoft, how do you see that impact microsoft's ambitions around mobile gaming? i guess when it comes to king, their ambitions for mobile gaming store? bobby: king is actually a great example of the irrational conclusion the cma reached. microsoft is not in the mobile gaming business and this gives

them, with candy crush, a single title that gives them an opportunity to actually participate in the mobile market. one of the things you would expect is that since king is headquartered in the u.k., the u.k. would be welcoming and supportive and enthusiastic of a business that is based in its own country. but the opportunity that we have with microsoft is to give them more access to mobile talent, mobile technology. that is something that they saw as incredibly valuable. the thing i think that was very misunderstood by the cma's they were focused on the console gaming market, which sony has roughly 80% market share in, rather than where the global market has gone. that is to mobile gaming. ed: activision blizzard ceo, in

the u.k. there is a judicial review process. although judge can do is look at the cma action and see if they acted in a way that was a rational and procedurally incorrect. they cannot actually look at the market merits. caroline: this is what makes it so important. one academic talking about how post-brexit, cma is really decisively making itself a clear competition enforcer. talking about preventing entrenched market power that stops and prevents competition overall. there is a tension that the u.k. is some way stifling innovation. but notable from not one, but now three female leaders of these competition commissions in the eu and u.s. and u.k. ed: in the context of the u.k., the cma was focused on cloud gaming. i asked bobby about that, he said it is an inconsequential part of the business, which is fascinating.

microsoft is going big on cloud gaming, transitioning the xbox from console to cloud, bobby thinks it is inconsequential. that was a surprise out of the interview. caroline: that seems to be the focus, it is a real driver of innovation. a brilliant interview, thanks for bringing it to us. coming up, we talk about the tension within silicon valley and down the biggest stories over there and beyond. we are talking about dropbox, some of the concerns around layoffs. a 16% of the workforce likely to be cut. this is in part due to natural maturation of the casting businesses, so says drew houston. we are down 2%, this is bloomberg. ♪

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ed: germany and talks to limit the export of chemicals to china that are used to manufacture semiconductors, the proposal part of a package that measures the chancellor's government would cut off china's access to goods and services needed for the production of advanced semiconductors. apple battling it out to be the top smartphone maker in china. oppo saw the biggest share of shipments with apple close behind, going to the latest figures. competition is intensifying as the market contracts and remains weak. elon musk's bid to dominate global car making is taking a new turn in dividing opinions. tesla has cut prizes and -- prices a half-dozen times. the question is, is this disruption or is it desperation? let us bring in craig, we've been looking at this chart for a

wild. a downward trend on prices. another chart is a downward trend on margins. craig: absolutely. i think elon musk, to his credit, said this was going to happen. i go back to the end of last year, there is a twitter space he did where he talked about his view that the economy was going to get tougher, that we were headed for challenges, interest rates were making it difficult for people to make big-ticket purchases. he said look, i am willing to give up margin for volume, i am willing to go to not making any money or making very little money if it means growing. what has been surprising for people is just how much they have had to cut and how quickly, and also i think the demand response -- i do not think the pop has been there. there's concerns about mounting inventory for tesla and how

productive the cuts have been. caroline: what is amazing is the ripple effects this has on so many more, thinking of mobileye, which is a stock that we brought up at the beginning of the show. down within 20% because of the impact on the chinese ev market the price cuts are having. how much is this going to be a global story trying to reach for sales over margin, and do we think they can preserve a luxury brand when they do this? craig: it is interesting, it has been patchy. or we have seen the most intense competition on price has been china, which you touched on. in europe, we are seeing more so the case that there is a long sort of order bank for a lot of these companies. they've been able to keep pricing strong for the time being, demand has been quite good the last few months. the question is how long that will last. in the u.s., it is patchy where in some segments were tesla does not play, you are not seeing

responses from other companies feel the pressure to need to match tesla. in other respects, you do see some moves. the f-150 lightning, they've taken the pricing up. for the mustang right against the model why, they have had to cut. it is really dependent. caroline: thank you. really deep look at what is happening with tesla, please go read that take and listen to it, we have a forecast around it. let us stick with elon musk, he may be supporting celebrities verified on twitter, but other players are paying for twitter blue. we will have a deep dive into at the reddit co-founder has to say about the infamous blue check, take a listen. >> i am guilty of paying for it.

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caroline: welcome back to bloomberg technology. ed: check out the markets. caroline: we are still seeing such resilience in big tech, it is all about the earnings. even the macro picture from the gdp figure for q1 not looking so resilient. nasdaq 100 up more than 2%, so the second day of gains. chips are not playing into this, we are worried about the smaller chip names giving us earnings that looked to the downside. nvidia is a drag on the day. i want to shine a light on what is happening with other risk assets, it is back when it comes to bitcoin. we are seeing it bouncing

around. nevertheless, we are back near the $30,000 level. i want to look individual movers, because we've had tech earnings thinking fast. ebay up more than 4%, resiliency and collectibles. this is a company trying to stabilize revenue post-covid and it is looking as though we are doing well. roku is up, stabilization to watch. intel, we wait with bated breath as to how the chipmaker does after the bell. it is shrugging off the rest of the weakness in the sector, we hope the worst is behind us. it is the story of the day, meta up 14% after the ride it has had. quite phenomenal, people taking away hope we are turning the corner in terms of advertising spend. ed: the story, generative ai. we were at the conference yesterday in san francisco, guess what was top of mind for

everyone? generative ai. this is what some guests had to say. >> ai will be a game changer. >> it is something we focused on for a long time. >> when you think about it, it can help and automation. >> ai will augment the essence. >> you will see rapid advancements mercury challenges that were hard, great identity security, suddenly we go wow, we are great at it. >> there are a lot of people concerned about the growth of ai and from different standpoints from the potential of what ai means for cybersecurity. >> what is important is we are having the conversation up front as we understand the technologies and how to take advantage of it. ed: let us wrap up everything being talked about, we have wendi whitmore at palo alto networks. quite a lot of that was in abstracts, generative ai. let us get technical.

when we consider the network infrastructure required for cybersecurity, the software tools, why is everyone so excited about this new era of technology? wendi: what a great recap from some industry leaders, specifically focused on generative ai. when you talk about the technology piece, you will hear many of us saying the same thing. we had machine learning and ai embedded in products and tools for a long time. the generative piece, i am most concerned about the immediate impacts that has on the attacker's ability to conduct much more effective social engineering attacks. we are going to see much more sophistication coming from them, you've already seen that over the course of the past year with cyber criminals getting in the game in an effective way. generally, technology feels the offense faster than the defense. we are also well-prepared on the defensive side.

ed: we heard from someone on a number of technical boards in europe, she made the point she is worried about quantum computing and machine learning from the threat actors perspective. the industry has these tools, so do those you are trying to combat. wendi: cyber espionage is the role that we live in, you're always going to have a cat and mouse game. it is a matter of technology companies making the right investments to effectively combat the attacks. caroline: let us talk about your investment and what you are inveigling. i was reading the forensics and incident response service, you are using artificial intelligence to help companies and enterprises react faster, how? wendi: 42 has expanded throughout the globe over the course of the past year, we have offices in asia pacific and we are seeing clients from all over the globe have the same questions. how can we use ai to further

enhance these types of services? we are integrating ai into these tasks that we can automate, make less manual, less human driven, enable humans on our team to be able to move faster to answer the questions that are most challenging and let machines do a lot of the automation behind that. caroline: does that mean you let me need less firepower, less talent internally at palo alto networks? wendi: it doesn't, which is great in terms of the continued need to employ a lot of people. on the challenging side, we know there is a skill shortage in our industry in particular. we are enabling the machines to take care of tasks that will allow us to focus team members on the much more sophisticated components of it, which means we can solve cases faster, give better service to clients. caroline: this is such a global

conversation. a prank call between russia and the u.s.. but i want to dig in a little more on how global of an expansion this is. ed: one thing that cut me by surprise was across all of the conversations we had, everyone went hard on china, straight off the bat, without prompt. i want to understand why. is it that political tensions have ramped up, so have the threats? i do not understand the link. wendi: certainly over the course of the last year, the world has been focused on russia and ukraine. in the background, we've seen state actors and we are tracking over 30 of these groups specific to china alone. from a global perspective, we are showing they are continuing to march forward from an espionage campaign, pre-positioning, reconnaissance. all the types of activity they've done for some time, but

i think they're more aggressive than before and they are able to do it under the veil of distraction while the world is focused on so many other major issues. caroline: thank you for keeping the cyber conversation front and center. meanwhile, generative ai is also top of mind for someone else. alexis ohanian, cofounder of reddit, talked about why generative ai makes him excited, but also anxious. take a listen. alexis: it is a game changer. certainly, i do feel somewhat responsible, given that reddit provides a lot of the trading data that is made in open ai with other platforms. i am excited, i've never been more exhilarated. i started intech into thousand five, so almost two decades i have never woken up every morning more excited than i am right now. with that, i am also more anxious than ever.

not just about the potential downsides, which there are, but also because it is in existential crisis for every business to understand how the technology, how this breakthrough, is going to change the way they work. we think about that within 776, we think about it across our entire portfolio. it is exhilarating, causing me to have a lot less sleep these days. but i do feel it is transformational, this is a trend that is important for everyone to pay attention. caroline: the data it is being fed off, it is regulation the answer, self-regulation? alexis: i want to use lowercase "r" regulation, which i do think is important. the problem for me as intellectually, i think this makes sense, give rules of the road, the breakthroughs are

happening week to week. the part that gives me pause as i have seen enough meetings down at the senate interviewing pick your favorite social network, folks were so ill-equipped they did not know the business model of facebook. my concern is that people who should be at the forefront of understanding this technology in order to figure out how we can properly create the rules in the road are among the least informed. that gap is what worries me. i do think it is important to create some structure, it is also important to make sure the industry continues to evolve in america because we know the counterparts in china are going to triple, quadruple down on this technology. it is important to keep making progress if you are in the states as quickly as possible. at the same time, it is so important for elected officials to get as smart as possible as fast as possible, because a poor decision could have pretty

serious repercussions in terms of global competitiveness, but also in terms of hamstringing what could be very transformational the good technology. this is not a small feat. caroline: 776 general partner alexis ohanian, so much more of the interview online. ed: we are going to miami to look at the tech scene on the east coast, what sectors other than crypto have seen momentum? keith rabois, we've been looking forward to this one. looking at shares of first republic, largely because this is a non-drama day in the scheme of things. at least in terms of an upside move, where we stand is the banks rivals that have stepped in to help and u.s. government are playing this game of chicken. there is a fantastic story on the terminal about who will step in and when, but we are worried about the banking sector. the question is whether the worst of it is over. loads of founders look to first

republic, we have the story. this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com

caroline: we take a look at the miami scene, as many of you descended on the city for miami tech week. miami is not the levels of new york or silicon valley, but the bay area, that share keeps on falling below 20 percent for a third consecutive quarter. is this the opportunity for the florida city? let us bring in keith rabois, i

set you up there because i am sure you are going to say 2022 was the year for miami, but we saw funding slip a lot. what do you make of the trends? keith: over the year, going to raise a ton of money. there are phenomenal companies, we are five for five. they are all doing phenomenally well. it is four times better, maybe five times. so not worried. i do not care about the averages, either. we have the right companies doing the right things with the right amount of capital here in miami. ed: do you recognize the opportunity moving at a different speed to what is happening in the bay area? is innovation moving at different paces? why is it attractive to you? keith: the future of tech is the

confluence of pop culture, design and technology, miami is the epicenter of that. we have the best in the u.s. for art, we are the epicenter of pop culture. and we have technology over the last two to three years. the combination is the future, tech is eating the world, software first. it is going to eat culture, you are seeing that play out through things like tiktok. but the future of that blend is in miami. the people who lead in entertainment and music, athletics, are all based in florida. caroline: in the conversations we've been having for the last six months or so, when we think about miami, we think crypto. that is where head has been at. caroline: you mentioned that art focus, that became an nft focus. was it too dependent on crypto? keith: it never was for us.

none of the companies funded in miami, none of the founders fun funded and miami were crypto based. so we never thought of it as a crypto or nft based phenom in florida or miami. the media sometimes likes to write about it, we've taken 10% of the founders fund and invested in miami, which is up from zero. i only moved here halfway through the fund cycle. so it underestimates massively the percentage of investments in miami. to put that into contrast, new york was 15% founders fund, the bay area was about 28%. down from 55%. so slashed in half, miami zero to 10. founders flood eight, most surely will have miami funded at the same rate.

pretty good portfolio. caroline: where is the ai? i am not sure you will go there. ed: i talk to her industry colleagues all the time, what i find most interesting is vendor capitalists want to put startups in the field of ai. they are technologically trying to solve problems with growth stage names. they want to see what is at the cutting edge and we want to know where your head is at. keith: the role is to produce significant returns and that is possible to achieve by investing in large entities. even if large entities do capture all the value, we cannot earn our money. we cannot distribute money to lps by investing late stage public companies. that said, i think the future will be based upon products and value propositions, not

technology. the key is what consumer value proposition are you creating that is unique and differentiated? ai is the magic when that might enable you to do one that is economically impossible before, but i do not care whether using ai or other technology. i care what you are delivering to what set of customers, how delighted are they going to be? caroline: what about customers at open store? you are running a business, this is about automating for people selling through shopify. is that artificial intelligence led at the moment? keith: we provide that for businesses, thing to $1 million in sales. there are a lot of businesses without infinite sales, we offer them liquidity. they build a brand, business. so we will take the business and give them an offer in 24 hours. also have a second product were

we agreed to run their business for a year and guarantee the cash flows so they do not want to sell the proverbial baby they built, we will run the business and guarantee them the money and drive it for them. we stitch the businesses together into one decentralized store that is a shipping to consumers later this month. ed: your colleague signaled he is not going to be politically active going into 2024, what do you make of that? keith: peter hester prioritizes time and what is most important for him. he has a lot of things he does, including investing technology companies, very successfully. he needs to think about what is the best time to turn on his time. i do not know what the answer is. ed: keith rabois, he has got to run because he is teaching a class soon, i believe. good to catch up with you, thank you for your time.

coming up, going viral. how russian pranksters were able to hop on the phone with fed chair jay powell, we will bring you the details. this is bloomberg. ♪ [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪

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ed: today's going viral, have you seen this? jerome powell held a call with a pair of russian pranksters, posing as ukrainian president volodymyr zelenskyy, according to a video on russian state television. let us bring in kailey leinz in d.c. the call took place in january. kailey: it is making the rounds on russian media and u.s. media by extension today. the pranksters were impersonating president zelenskyy and chairman powell thinking he was speaking with zelenskyy spoke with them about a number of subjects, including inflation and the russian central bank. the fed is saying it is unclear the video is edited, it appears to be. it could not confirm it is accurate and said chair powell participated in a conversation in january with someone who misrepresented himself with the ukrainian president, it was friendly and took place in the

context of our standing in support of the ukrainian people. no sensitive or confidential information was discussed. they added the matter has been referred to appropriate law enforcement. this raises some pretty big questions about security at the fed, considering these two were known -- they've done this with global leaders before, yet they were able to get through to the chairman. caroline: will there be action further to saying we cannot talk about the authentic missive some of the video circulating? kailey: we will see were law enforcement takes this, the fed left it at we have given it over to them, we will not comment on it further. but this is something that has gone on for years. earlier this year, we saw something earlier with the ecb president with the two posing as vladimir -- volodymyr zelenskyy.

they are impersonating their way into conversations with global leaders, this is something we have to think about in the age of deepfakes and ai and the ability to manipulate information and how it is perceived on the internet. governments around the world have to pay attention. caroline: to talk about ai than go back to something so deeply 90's in terms of prank calling. this is serious, particularly amid the geopolitical backdrop. that does it for this edition of bloomberg technology, join us tomorrow. the president of the ford foundation is joining us on the rising popularity of artificial intelligence, you do not want to miss it. ed: amazon and intel after the bell. listen to our podcast forever you get your podcasts, bloomberg what forms and apple, spotify, i heart. it has been tense, one more day

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>> stop searching but it is not just tech behind the move. bloomberg markets starts right now. kriti: a quick check of the markets. green on the screen for the s&p 500 and higher than 1.3%. the nasdaq almost hitting to present as reserve all around the session highs. the bond market is seeing the selloff. volatility is seeking back into the conversation. 406 on the front end and is interesting to see it sustaining about 4% and that's a few maybe the federal reserve has more to do.