>> this is bloomberg technology with caroline hyde and ed ludlow. caroline: live from new york and las vegas, this is bloomberg technology. nvidia rise to samsung's rescue. plus, we sit down to sit down the future of autonomous driving

in the u.s. -- to discuss the future of autonomous driving in the u.s.. first, we check in on the key movers on the nasdaq and technology spectrum. nvidia currently holding gains of .2%. we have had losses across the chip spectrum, but also we see a bounce back yesterday after the selloff we saw in nvidia. will be see more optimism? meanwhile, impact on all the names that have rallied so hard in 2024, off to a bad start in 2025. it is going to take 50 to 30 years before we get significantly useful quantum computing outcomes. on the upside, jensen to the rescue of samsung, up 3.4% even though the numbers of the last quarter were dismal, but it looks as though the high band

with memory chips are so important to integrate into ai accelerators they are coming at a pace. give us the nuance because samsung has lagged behind smaller competitors when it comes to high band with memory but some optimism here. >> samsung reported preliminary earnings. as you see, pretty terrible. they reported operating profit of 6.5 trillion, a third less than everybody had been expecting. revenue was late. just a few words from jensen long -- wong and the price went up. he said they have to leave and they are working fast to do it. they are tracked to come up with the next generation of chips to be paired with the nvidia ai

accelerators to trade ai models, so just a few words from jensen huang were enough to turn around samsung's fate. he expressed optimism that they are making progress. nvidia will get to the point where at some point they will get approval for the ships and than they can start to buy from them. essentially, they have had a monopoly on this market, so nvidia wants competition there. they want samsung in the market. caroline: it has been displayed in the share prices. i think about a third of the market of samsung was ripped away because of the seeming delay on getting in on high band with memory. are they having to spend a lot? is that why we saw disappointment in the numbers? >> they are investing heavily. samsung is not used to being in this position. they have been the biggest. they get the best engineers. they are seeing the little

brother in this market has been able to surpass them because sk hynix was held with the heat dissipation issues that are necessary as we move into the computing necessary. sk hynix has gotten ahead of them. that has been huge for their share price so far, but they have samsung right behind them determined to catch up. as we heard from jensen huang, they are making progress. caroline: let's head to las vegas, or ed ludlow is on the ground with the latest. ed: it is interesting to hear peter talk about the semi conductor and ai demand at samsung because if you look at the numbers it was everything not ai that was the pain point and a lot of the streak was like, what does samsung do?

they sell smartphones and high end tv's and everything here is all the rest. they are the biggest exhibitor here, high end appliances, ai integrated. i do not know if you haven't an ai integrated fridge. i do not know i need one, but that is what samsung was hoping would be a boost to profit and it did not materialize. caroline: jensen is making moves on quantum stocks as well, but talk to us about what we are seeing when it comes to consumer technology. ed: if you imagine the hall behind me, right out of shot is this mini stadium that is samsung's display. it is always the biggest they are betting the consumer will part with their cash in competition with amazon. i spoke with the executive vice president of samsung. it is all about efficiency, cost, and energy. >> 2024 was the 10 year

anniversary since samsung acquired and started building this smart home experience to our consumers. with the smarthings platform, we are thrilled each year we can deliver new, innovative features to customers and from kitchen to living room, bedroom, and all the appliances and tv's and watches and rings and galaxy devices, that is the platform. we can really help you live in the best way. we can set the optimized settings for you for your bedroom and kitchen and living room, so with smarthings the connectivity and ai that we add to make this appliances and devices more adaptive to her lifestyle, i think that is the

really great benefit of smarthings' platform. ed: so say somebody watching this has never had a connected appliance or device cut let alone an ai capable washing machine or refrigerator. >> you may want to start with one appliance at a time, but once you experience that benefit, then you may want to replace all the others. that is what i did. i recently moved to a new apartment and then i was like, maybe i can have one new washer and then since the benefit is so great, you can remotely control it, why not replace the drier so i can have added benefit? then once i see the value of the washer and drier and the cooktop

and the hood -- altogether you can save more energy and you can have coordinated control that we can provide, so kind of one at a time you can build the smart home that way. ed: this is the consumer electronics show, but one of the more interesting announcements was you are taking smart things into a scenario that people might not expect with shipping. we are talking big, commercial boats. why would a ship need smart things? >> why not? this year, you will see our offerings in the home and beyond the home. so we have the smarthings pro solution we built on top of smartthings plus. the pro solutions for business

and we are expecting that functionality of cars and ships, so you will see our exhibition and collaboration with samsung this year. caroline: the executive vp and head of smartthings at samsung there with ed. coming up, we will be joined with panasonic's chairwoman and ceo. this is bloomberg technology. ♪

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ed: welcome back to las vegas and special coverage. one of the big focus is the technology behind energy, the supply chain for energy. one of the companies that talks about that most is panasonic, from energy supply through to consumer products. megan myungwon lee, panasonic's north american ceo, is here. every year we talk and every year there is an update let's start with what i think your focus was, which was energy supply chain. what is new in particular? how are you using artificial intelligence to get better? >> we did the keynote speech yesterday and our message was all about the future. as a 160-year-old company, we are making big investments in north america but supply chain is also a critical part of our business and the area we are

trying to make a contribution for a more efficient, smart supply chain solution, so we bought a company coming out with an end to end visibility capability they can customize to work with you, so we are excited about that announcement. ed: how difficult was that to get done? the story of 2024 was companies going out and having to acquire capabilities and grow them. you went one way. >> we started working with them a couple years ago and we are excited about our ability and investment that we made and their capability to solve the problem of the supply chain resilience and safety and we will be forthcoming with a newer

technology and we are excited about that. it is a subsidiary of panasonic and they are north america based and it is a great announcement for us. ed: you said supply chain resilience and investing in america. i post on social media every year that i'm speaking to you and every year i get questions, hundreds in this case. the majority about the -- are about the upcoming trump administration and potential tariffs and policy around china. that is interesting to you because of the ev battery supply chain in this country. what is your message around that? >> even before the trump administration, the supply chain -- we all know that china controls a lot of raw material. for the ev batteries. so we happen working hard -- we have been working hard even before.

during covid, everyone had the challenge of managing supply chain, so we had to make sure the supply chain is smooth and predictable and under control. so we are making sure it is closer to the production and we are excited about that. ed: for the audience, particularly those who follow names like tesla, give me a factory update. >> our reno operation has been successful and we are opening new operation in kansas and we have been building the factory now for two years. it is going to open in april and we will be in full operation from spring and summer this year and we are working with partners like subaru and lucid. ed: i have a question for you

about lucid. it was from an audience member. i was trained to think, what is the court this question? i think people were surprised he partnered with lucid. you may not necessarily be a high volume ev initially. what was your thinking? >> panasonic being a 106-year-old company, it is great to work with subaru and mazda but we are also keen on working with newer companies so they challenge us and we learn from them and make sure we are capable of partnering with companies like lucid and we are excited about that. it is going well. ed: i have covered that company. interesting vehicles. they are not very good at building them. when you make a decision like that, how do you weigh that in your head? because you want to be able to provide supply. >> i think we as a company want to take a chance and partner with companies that operate

differently than us. lucid is a europe partner, but we have a success cases with tesla 10 years ago and we are doing it again with lucid and we are bullish about that. ed: what is the latest on the tesla relationship? where do you see it progressing? caroline: we are excited about the 4680 capability. that product is -- the capability is great. it has been tested in production in japan and we are planning on bringing it to our campus in the future. ed: what has been like this year? many of the automakers are here. walking around, i feel even on the consumer-electronics side

things are positive. what have you been talking with your customers and suppliers? what have they been thinking about? >> we started working in 1967 so we feel like we have grown up with the cta. cs is not necessarily so much about newer gadgets and product. it is about our message. our keynote speech was about storytelling for the past 60 years, so we feel good. ai was big last year. this year, it is about application, including us. we made an announcement about a product, and ai wellness coach on the floor and is a newer capability we are demonstrating on this platform, which is different from our past capability but we are coming up with a newer solution.

ed: are you ready for the trump administration? >> we are. we have been prepared for this and we are working to make sure our investment is meaningful for our company as well as the market. ed: i always appreciate catching up with you. back to you in new york. caroline: another story we are watching is going back to anthropic, in advanced talks to raise $2 billion. lightspeed venture partners is leading. anthropic was on pace to generate 870 $5 million in annual revenue. coming up, we hear from sirius xm's ceo on why they consider themselves anti-ai. this is bloomberg technology. ♪

caroline: sirius xm says it is focused on growth. bloomberg's ed ludlow began with a discussion on ai implementation. >> in some ways, i think we are anti-ai in terms of content creation and duration, so we pride ourselves on the hosts and programmers that we have, the people that actually put together the channels and shows. it is the voices you hear every day on your commute that really drive that intimacy that audio offers and the connection. where we will leverage ai is in some respects where others have used it as well, to provide better discovery and personalization. we hope our programmers can create an experience to help you

find what you love but also the technology can create more personalization around marketing and the product itself to enhance that more. and of course there are other benefits for ai in terms of cost reduction and efficiencies in the business overall. ed: last month, he basically said this is the revenue outlook for 2025 and investors were disappointed. you have said you are going to cut costs. how is the cost-cutting going? what factors, if you accept the revenue outlook is not one your investors wanted to see, what with the factors behind it be? >> we are focused on supporting the top line and the aspects of our business we have talked about, subscription and advertising. we have opportunities to continue to grow there and drive improvements to that part of our business. we are focused on what we do

best, audio first and in the car because that is where we have proven we can be successful and where radio is successful. we talked about what we are adding in terms of podcasts to build out that portfolio and cost reduction will be increasingly important as we move forward and want to sustain our industry-leading margins. we also have significant cash flow generation. as we get to our target leverage ratio, we will be able to increasingly return capital to shareholders whether through our dividend or share repurchases. ed: this is your first in about five years. it is packed. there is intense focus on exhibitors' ai and questions about what 2025 is good to be like because we have a new administration coming into office this month. how is sirius xm preparing for that?

do you see it being a factor? >> we have a diverse set of content and one of the things we saw during the election is an increase in news and politics content consumption, which is probably not surprising but it speaks to the overall bundle that we have something for everyone at any given time and also the value when something important is going on. that is going to continue to be a focus for us and there are things like people focused on tariffs and taxes, but we feel good about our position in terms of availability across the spectrum of auto manufacturers, in addition to advertisers and i think we feel good. december was a great month for auto sales, so hopefully that is an indication of what is going to come in 2025. caroline: coming up, we will be

joined by the mobileye ceo. look at the share impact. we are up by 50%, but they are up 20 fold in the fiscal year but the stocks are now getting caught up by the fact he is saying it is going to take 20 years at least for very useful quantum computers. they were exuberant following the willow chip from alphabet. let's look at another name on the move, ebay, up significantly on news of meta folding in ebay within its marketplace. it is currently on test and it is rolling out the new test to integrate the listings on the back of the european commission decision that facebook marketplace and competition in the u.s. marketplace sector, so they collaborate.

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caroline: welcome back to bloomberg technology. a quick check on these markets, being buffeted by macro headwinds. the market is shut tomorrow for a national day of mourning of president jimmy carter. we also think about what is happening in terms of economic data. we are down a 10th of a percent and the nasdaq, nowhere near as low as yesterday. bitcoin has been selling off. some of the economic data has been too good, off by 1.6%. we were at 100,000 earlier yesterday. have a look at the individual

names under the microscope, nvidia trading basically flat but it has been on the higher side and then to back lower as we try to digest how much autonomous robotics is going to be advantageous to nvidia but also whether we are seeing more profit-taking after a run off in january. amd is one of the biggest drags on the nasdaq today. it looks like hsbc is doing a downgrade to the stock. they are worried it is not a key competitor to nvidia. they think it is not going to be making waves, therefore being told to reduce. we are looking at one of the key quantum stocks we are keeping an eye on. jensen huang says quantum from a useful perspective will not be there for 15 years. and let's talk a little more about what the nvidia ceo has

been saying. he joined us yesterday and had this to say about the outlook for autonomous driving. >> the autonomous vehicle industry is important to us. we offer three computers, the training computer, the robotics computer inside the car and now this new computer that is the digital twin or playground where these robots can learn how to be robots, so if we could accelerate development of artificial intelligence for robotics it brings in a lot of business for us. >> interesting to see nvidia moving more aggressively to autonomous driving. part of that play is the generation of synthetic data, generating images or video, training models on that video rather than real-world data. one of the key players is

mobileye. the ceo joins us again in las vegas. i have always understood mobileye's advantage to be you have chips and vehicles already on real roads around the world, real-world data. jensen says synthetic data. what do you say? >> is a big thing for humanoid robotics because each robot has different actuator types, different placement of actuators. if you build a foundation model using some architecture of the robot, it will not generalize to other architectures. if you build it from synthetic data, you can have something that generalizes quick for example i cofounded a company three years ago that relies heavily on nvidia's physics simulators and build foundational robots from synthetic data.

then you can train dexterity and grasping and so forth from synthetic data. with cars, it is different. with cars, all cars look alike in terms of actuations. what you want to demise is distribution drift. you do not want to train a model on some artifacts that can come from synthetic data. if you do not have real data, that is what you can do, but if you have real data you can be more precise. ed: his argument was the synthetic data augment the real-world data. >> say we find an edge case. then we go to a simulator. we generate many examples of that edge case, but this is really for edge cases, not for the kind of main training.

ed: we are saying multi-verse this is not spider-man. this is autonomous driving. the stock is down significantly. is that because nvidia is coming out strong and saying we want some of this autonomous driving market? >> i do not think so. investors were expecting announcements. we are not ready yet with announcements. i think we will have major announcement through the year, but we are not ready yet and this is a natural response. ed: you have the volkswagen buzz. you are working with them on a higher level of autonomy for that product. my understanding is it is in the prototype phase. a lot of the pieces are there to go to production, but there is no plan to go to production. >> there is a plan to go to

production end of 2026. there are about hundred 50 vehicles testing, but there is a firm plan to go to start of production. robotaxis is a spectrum. we have built robotaxis. we built a consumer level car, a level three and four on highways which will come out in 2027. there's lots of commonality in hardware between those two. it is the same boards. we are developing imaging radars for the consumer car and robotaxi, so that commonality would reduce costs and we have also fst like -- fsd like

systems. purely camera based. there is optional front facing radar, but it is purely camera-based and is eyes on. the driver still responds. you cannot let go of driving. ed: mobileye has a broad offering in the theater of autonomous driving robotaxi which specific deployment do we see first? >> the supervision. we are already deployed in china. 90% of the focus of the company is the next generation. it will be on all models of the volkswagen and audi. that is coming up next year and then the chauffeur, which is the level 3 autonomous driving on highways, will come early 2027. ed: you must be speaking with

customers and partners about the coming trump administration. how do you think that is going to impact 2025 particularly in north america? >> politics aside, from a policy point of view, it is going to be positive. the problem with the u.s. is there is a patchwork of regulations, state and federal. if the president comes in and puts things in order at the federal level, it could promote autonomous driving considerably. i see that very positive. ed: great to catch up. thank you for your time. back to you. caroline: scout motors in the u.s., its revival is betting big on ev's with a comeback by 2027.

ed is down the ceo and began by asking him about demand the company has seen since its announcement. >> reaction has been huge. i would say direction would be over 50% in the range extender version. ed: i think motives. >> a portion of america -- this gives us a 50 state vehicle, which is what scott wants it to be. what are the challenges we see? charging infrastructure and this takes that off the table and it is convenient, so i think those things make sense. ed: let's give context about scout. one might frame it as volkswagen's play for a foothold in the u.s. market, but we are waiting until 2027. it is a long wait.

>> we are restoring an american icon. scout was an iconic american brand and we are bringing it back to life. if you are waiting for just the product, 2027 may seem like a long time, but if you are restoring an american icon and starting a new company, i think it is the perfect time. reaction has been we want to go along for this journey and i think 2027 is manageable. ed: scout is kind of leading the way in concept and extended range. you look at the legacy oems. they have put on pause pure battery electric and may now look at plug-in hybrid or extended range. do you see others following suit? >> i do. the two platforms are the same. the platform for an ev and extended range are the same.

second, it has zero impact on manufacturing. you do not need to retool the plant. it is two relatively simple jet operations, so this gives you ultimate flexibility. put in a n for the next 20, 30 be joined by the siemens president and ceo. this is bloomberg technology. ♪ ♪ putting ai agents to work for people. like secret agents? no, more like autonomous minions that you control. to do what? well, jim's agents resolve simple customer issues. and patty's agents flag network problems. —proactively. —yup. i'm lovin' my agents. wait, you all have agents? oh yeah. and on the servicenow platform, everyone's agents work together so everything works better. can i have agents? maybe. ♪♪ you know what's brilliant?

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caroline: you are looking at a live shot of the principal room. coming up, and extrusive interview with gary gensler. you do not want to miss it. this is bloomberg. ♪ caroline: siemens is showcasing his mission for the future here

and in las vegas as well, a future where data, and automation can provide more flex ability. i am pleased to say ed ludlow is now sitting down with the key executive. ed: nvidia talked about on the verse and customers can go in and work within it. the customer is also here and that is what is interesting about siemens. i find on the verse hard to understand. it is at the center what you have been talking about as a customer. >> nvidia is a partner of ours. we have tools that help designers and engineers visualize and work with the most comprehensive physics-based digital twin, but when you look at the drawings, they looked like engineering drawings.

suddenly, engineers can connect. look at this object that looks like it will look at the real world. ed: generally, people are trying to understand -- that all sounds great. if you are a business, does it help you make more money? >> right here in our booth, we are featuring customers of ours who have chosen to use our siemens accelerator platform. they are using these tools to help them in the design in you fracturing -- and manufacturing phase. why would he want to go digital first? so you can try it in the virtual world. think about jet zero. this is a lended wing aircraft that will be brought to market.

he says we chose siemens because it is the best. we wanted to start in the early phases with virtual designs that would allow us to flow through into the manufacturing phase. ed: if you build your own product like that platform, do you sell it as a high-margin service? how does it translate to the business model? >> in the olden days, we would have -- today, we serve all of those markets. helping designers and manufacturers and operators, but we know there is need to put that in the cloud and make it accessible on a -- on a per user basis so even startups can get going. if you went to the park, you would see a bunch of start ops in on boarded and given deep discounts so people can get into

this new economy being built. ed: you are experienced. this week in particular, how many conversations have you had the upcoming administration cut tariffs, and are you ready for that? >> we are ready. here is what i keep telling our customers and our own organization. we have worked with all of the administrations along the way and siemens capabilities are aligned with national priorities, so whether we are talking about increasing electricity available for data centers or the resurgence in manufacturing, this is a recent -- a moment. >> have you had to object supply chain? >> this has been a trend for siemens. you would see we truly believe

that bringing manufacturing supply chains closer to point of use is going to be a trend going forward, so we have been making in america for decades now and i do not see tremendous change coming for us but we want to be responsive and we think the kind of technology we bring can make even government customers were efficient and effective. ed: elon musk would like to hear that. you meet with so many ceos during the week. i am grateful for your time. caroline, back to you in new york. caroline: it is time for talking tech. tencent announced its biggest buyback since 2006, purchasing hong kong listed shares amid a selloff in stock after the tech firm was added to a u.s. blacklist for alleged links to the chinese military. indonesia keeps its apple iphone 16 ban.

it says the investment plan is insufficient to meet local investor requirements. indonesia says is willing to negotiate with apple but may post sanctions if the company continues to not comply. and tiktok shop rival whatnot says it plans to use funds to hire engineers, improve customer service, and expand to new countries. the funding round coincides with a looming u.s. been potentially on tiktok, sending some of its sellers potentially to competitors. coming up, more after this break. this is bloomberg technology. ♪

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ed: this ces feels different. the inauguration of a new administration is around the quarter, but there has been more news. here, we are ramping up as well. our coverage of consumer technology. there is more to cover. ai is playing a big part. i am on my best behavior because the big boss is in town.

we are going to go deeper and broader on consumer technology. how and why? >> right now is an incredibly exciting time in consumer electronics. ai is changing everything. it is getting woven into every gadget we use. it is infiltrating our homes, our cars. the list goes on and on and it is changing things in a dramatic way. right now, i think the time is right to double down on consumer-electronics coverage. we have always cared about the business of ce. now it is time to do a better job of telling the world where they can find all this information. there is a section on bloomberg.com. we have been doing product reviews, but we will be more systemic -- systematic about it and talk about products in the context of business and strategy of corporations trying to make

money from these gadgets, that are changing the way we live and work and do our everyday lives. we are going to talk about it in an unbiased way and drawn this group of journalists who have so much experience in writing and thinking about consumer-electronics. a long list. the list goes on and on and we have dozens of reporters around the world bringing you the latest in consumer-electronics news. ed: ces is the first week of the year. it puts everybody in one place. what has been like for you? >> yesterday, a lot of conversations with nvidia you talked to jensen huang yourself. he is creating this new world foundational model that will help us understand how robots interact, how cars interact.

if you want to weave ai into these devices, you need to understand how these objects interact in the real world. that is just the beginning of the interesting and exciting things we are seeing here. >> ed: it is hard to find anyone more excited than me, but i think we have done it. caroline: thank you for today's reporting. that does it for this edition of bloomberg technology. in the next hour, and a sluice of interview with the sec chair. you do not want to miss it. do not forget to check out our podcast. you will find it on the terminal as well as online. from new york and las vegas, this is bloomberg technology. ♪

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>> today, sec chair gary gensler sits in for an exclusive interview. tune in today and noon eastern only on bloomberg. >> welcome to bloomberg markets. it is jobs day eve and we are seeing the stock market make a turnaround here, giving up their early losses and inching higher here. he sees inflation cooling and that supports his view for more rate cuts this year. the russell continues to underperform with small caps lagging behind.