>> from the heart of where innovation, money, and power collide, in silicon valley and beyond, this is "bloomberg technology." with caroline hyde and ed ludlow. caroline: live from new york, i'm caroline hyde. jackie: and i'm jackie duval is in san francisco. caroline: apple's iphones will use alibaba's ai technology.

while the partnership help apple revive iphone sales in china? read user growth under rome's. we talk about google's algorithm and its in-house ai. few between elon musk and openai continues, with musk saying he would drop his bid for the start up if it halts its for-profit restructuring. first let's check in on these markets. the nasdaq shakes off yesterday's cpi reading once again. nvidia leads the charge to the upside. apple also doing well. the nasdaq 100 up more than 1%. apple one of the most magnificent of magnificent seven in terms of valuation. apple pushes to the higher side. why? just feed news coming as reports that alibaba is going to be lending its ai technology for apple intelligence in china. crucial in terms of market share for this all-important geography, but will it remain exclusive? there is so much to talk about

the importance of china, but this is the chairman of alibaba concert -- confirming previous reporting that apple is getting its first generative ai partnership in china. brian: thanks for having me. this is a big development. china is a major market for apple. i think they got 17% of the revenue from the greater china region in the recent fiscal year. he had been string -- seen struggle in terms of sales. so the idea that they can get really strong ai features onto devices in china is seen as a real opportunity for them to improve their fortunes and that would help their overall growth, which is something investors have been looking for. jackie: i'm talking about the tariff risk. however investors thinking about this and -- this potential risk as it relates to apple? ryan: apple is in sort of the

crosshairs here because it does have such a major manufacturing hub out of china. we have seen tariffs levied. i think it was 10%. china retaliated. so, there are questions here. we don't know how long tariffs might be in place for. you don't know if there is going to be an escalation. so far it seems like people are not seeing too significant an impact to earnings, but this is something that could escalate and become a much bigger issue very quickly. caroline: certainly we have seen the ramifications on the stock price from investigations coming to china from a regulatory perspective, and germany looking into it on the day as well. point us forward from how this bakes into evaluation on apple. over the last five days we are up 2.7%. ryan: recent performance has been good. overall it has -- it has been an underperformer because of the concerns about how strong iphone 16 demand was and the overall political environment. the stock does have a pretty

high multiple, given the fact that the growth is not what you are seeing in some of the other mag seven names. but people do consider it a safe haven company because its cash flow is enormous. they spend billions of dollars on buybacks. it hasn't been plowing capex into ai, which has been a concern for other stocks. there are still reasons to recommend it. services growth, you can go down the issues like that, but overall people have been looking for a more pronounced growth inflection, and when you have these concerns about tariffs and china that does make it a little bit harder in the near term. jackie: that is ryan west alico. thank you for joining us. shares of intel are on track for its biggest one-week jump in 25 years as a report from bayard says the company could be in talks to work with tsmc on a potential project. for more ian king joins us now.

it's ceo being ousted. how much does intel need a project like this? >> we have seen the stock go up the last few days. what investors want a something from the outside they could help intel. they have seen that it really has not been able to change the direction of its fortunes. whether it is jd vance talking in europe about, we need to do a made in america, there is speculation in asia, potentially getting help from partners who are currently competitors, the message is looking for something, give me a sign, give me a spark. caroline: speaking of spark and signs from apple, tim cook is posting about the next member of the apple family coming on february 19. we are up 1.2%. much has been reported about the cheaper revamped coming from mark derman previously, but at the moment all of the statement coming from tim cook's we are

awaiting the newest member of the family of apple and you go to the x post from tim cook. sticking more with what is occurring on the manufacturing side of things and what is happening with intel, we know that maybe they will look at outfit -- outsourcing manufacturing and doing deals with tsmc. how in line with this is what pat originally wanted or a distinction from previous leadership? ian: i think we have to be careful here to point to there being a lot of speculation. we don't actually know that much is happening right now. what we really need is if they get the big customers with huge orders that give them a lot of volume, the plan is on, then what gelsinger tried to put in place is paying off. until we see apple or nvidia or somebody else like that putting lots and lots of chips into intel's factories the plan is not really going anywhere.

caroline: ian king on all things intel, which has been on quite the crescendo the last few weeks in terms of its share price. spacex we understand in south africa, the talks stalling over tensions with elon musk and president trump. spacex and south africa, the negotiators intend to restart talks later. this about spacex's adoption and satellite use in south africa. we will have more when we get it, but coming up we will be joined by reddit coo jen wong. that is coming next. this is "bloomberg technology." ♪

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caroline: let's look at reddit right now. shares are down after user growth missed wall street's expectations. they were having the worst day since november 22. reddit saying user growth was impacted after google made a change to its algorithm. let's dig in. reddit coo jen wong joins us now. talk to us about how this quarter is currently looking in terms of the reaction to google's algorithm change and how you drive your own fortunes when it comes to the you send adoption staying with reddit. jen: thanks for having me. q4 was a really strong quarter for us. we saw daily active user growth 39% year-over-year. the revenue grew year-over-year. i think in terms of growth we are probably top of the market in terms of both of those parent it is hard to find a company growing as fast.

for the things that we could control, making it easier, helping people find communities faster, we are happy with our work. our work is working, and that has been consistent over the last four quarters. and there is a lot there. you're still early in the process. in q4 we did see there were some changes in google. that came and went. we have seen some recovery since then and we are off to a good start. the work we are doing continues to bear fruit in making reddit more extensible. reddit is an opportunity to address everybody. the whole world needs community and can be on reddit. so when we make reddit more accessible, help people find communities faster, that is when it becomes extensible to everybody in the world. we are just early in that journey, so we feel good about our roadmap and opportunity. jackie: reddit has a licensing

agreement with google and in the earnings call yesterday the company called that relationship symbiotic. so the faster that users can find reddit on a google search the more engaged they can be on your website and in turn the better data that google is able to glean. if you had conversations with google about cutting you some slack or giving you guys a heads up the next time there is an algorithm change? jen: the way google worked, the way the algorithms work is their proprietary work. conversations we have had our around obviously the reddit data and how that can be used for training and for -- you know, in their search generative products. there is no question that it is a symbiotic relationship and that what happened last year, i think, in search, demonstrates this. reddit has been the sixth-most searched term. that means people are intentionally searching for

reddit. they are typing in, what is the best backpack reddit. because they are trying to navigate to the recommendations and trove of human intelligence on reddit. because reddit has the best answers on the internet and google is a place where people go for broad-based questions, it is a really symbiotic relationship, and that helps reveal the corpus of information that reddit has two users who were searching the broad-based internet. in that sense it has been a very fruitful partnership. jackie: but if it is getting harder for users to find a reddit link via google search do you see this kind of algorithm change or similar ones in the future straining that relationship? jen: we have been beneficiaries of the open air. when people are intentionally navigating to reddit that tells us they are trying to access that information, the

recommendations, the advice. i think we are important because we are actually what users are seeking. they are actively searching for us. the way we think about it is, this whole process of licensing has revealed how important reddit's content is, and we also have an opportunity to build our own products around our corpus of information. you see this with us testing something called reddit answers, which is a chat-based search that reveals recommendations on reddit, but gives you a search result that is specific to reddit, that shows answers and opinions across every subreddit. a really different experience from broad-based internet search. i think we have an opportunity to build our own products around our corpus of information in addition to being in sort of broad-based search on the internet. caroline: speak to those analysts and asters with anxiety on the dependent of google.

how much is reddit answers boosting the engagement you control? jen: reddit answers is early right now. it is in a beta test, but we like what we are seeing. the thesis of people wanting to come and be able to search reddit and see what is happening out ross all communities, that thesis, i think, has borne out. we are excited. we are investing in search, search of reddit, and this is an opportunity that we will continue to be building out. when i think about the opportunity come for -- it is a norm is, right? recommendations and advice. we have 20 years of conversations on every topic on the planet. it is our mission to empower communities and make their knowledge accessible to all. jackie: that is reddit coo jen wong. thanks so much for joining us. we also caught up with the ceo of lyft yesterday.

we discussed his outlook on autonomous vehicles and the competition with waymo. he says lyft's market share in san francisco has not moved. >> in san francisco it is flat. what is interesting is, even as the increase in san francisco our share has been flat. that suggests that the market is expanding. maybe they are taking market share from the other guys. in phoenix we are faster than average. waymo is quite active there, so it is a great product, it is a great technology, but i think people use it and like it and come back to traditional ridesharing. jackie: your competitor said it would hopefully partner with tesla on autonomous vehicles. has list had any discussions about a potential partnership? >> i don't talk about individual things like that. there is a danger of trying to win the press release war. i would say not.

i think there will be all kinds of partnerships. the ones that happen we will kind of have to say. jackie: the incoming transportation secretary has opposed -- proposed that a federal level law should supersede this patchwork of state-by-state rules for autonomous vehicles. do you think this new administration would help lift's ambitions in autonomous vehicles? >> i do. he state-by-state thing is hard. you understand you want to do some local experimentation, and different states are different. but an overall safety framework and general autonomous vehicle framework would be helpful in helping this industry move faster, and frankly keep up the way the rest of the world is going. jackie: we are also watching shares of coinbase. shares are up over 6% because it is a key beneficiary of president trump's promise to usher in a new era for the crypto space.

the exchange is reporting fourth-quarter results after the bell today and washington is expecting to see -- wall street is expecting to see a boost. caroline: coming up, we are going to be speaking with the ceo of k2 space to discuss his latest funding round as it disrupts the production of large satellites. this is "bloomberg technology." ♪ ♪ (♪♪)

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caroline: blue origin, jeff bezos' rocket company, is cutting its workforce to focus on ramping up rocket launches. surprise round comes a month after blue origin debuted its flagship rocket following years of development setbacks. jackie: startup k2 space has raised 110 million dollars in a

series b funding round led by lightspeed ventures. the company created by former spacex engineers is developing a platform to launch multiple satellites into orbit at higher speeds and lower costs than currently available. joining us is ceo karan kunjur. walk us through what your platform does. it is essentially almost a bus for satellites. how are you able to do this at a cheaper price? karan: we are building a platform that is 10 times more powerful than existing platforms today. when it comes to the applications in space almost every application ties back to power. my brother and i started the company on the contrary in that we decided to go the opposite direction of the market that was going smaller and redesign the satellite to build a platform that is higher power, higher capability while still being able to multi-manifest constellations. caroline: the market has come to your contrary and that because

spacex's starship being able to take these bigger payloads, i'm interested in ultimately what the manufacturing therefore is needed in the united states. because you are vertically integrated. karan: exactly. players like spacex and blue origin are moving the market larger. we are moving from an era from launch constraint, to launch abundance. it is almost as if we are operating in the age of dial-up internet and moving to broadband. our company was started in this premise of, what happens when we can do things differently? for us it is rebuilding the satellite. we are building about 75% of the satellite and house, and that allows us to do unique things to optimize the platform for the launch future we see coming. not necessarily the launch vehicles of the past. jackie: you have already brought in millions of dollars worth of contracts. we have heard a lot about the

dod getting inside silicon valley, trying to scoop up some of those startup ideas, but talk to us about your commercial partnerships. there is a lot of space companies out there right now. karan: when you 10 times the amount of power you also dramatically increase the throughput per satellite. our customers are commercial operators that see the potential when you have 10 times the amount of power to fundamentally change the unit economics of their business. higher power means lower cost, means they are able to deploy more satellites with even more capacity in a way they could never before. jackie: are these spacex, blue origin, those kind of layers? karan: two of the players, but there are others who are thinking about how to better operate their constellations on orbit. caroline: also interesting is the government side of things. you have got jon plumb, who used to be in government, former assistant secretary of defense

for space policy, in house now. how is it liaising with the current administration? we have just got news that a deal in south africa is in jeopardy because of relationships with elon musk and donald trump. how are you finding relationships? karan: we were pretty excited to bring jon on the team. when we briefed him he saw what was possible with this completely new platform. at the end of the day we believe that if we don't a platform that is as differentiated as what we claim it to be our work with the national security and commercial customers will come. the existing administration has clearly shown that they believe space is the next frontier and an important place to have investment and we are excited to continue to service our national security customers. jackie: news today that blue origin is cutting its workforce. are you worried that signals a broader slowdown in the space in any way? karan: we have a lot of friends that work over there.

we are sad to hear about that and we will be trying to hire ourselves people that may be leaving from that company. layoffs and investment are always a part of the natural capital cycle when it comes to any business. you don't like to see it, but sometimes that happens. i don't think it is indicative of a broader trend. we were preempted in our seer -- our series a. we were preempted again on our series b. what we see is if we are truly building something different with a differentiated team going after at the capital is there to fund our vision. caroline: potentially hiring up some of that talent that has to be pushed out. talk about next steps, where we see k2 space. in january, flying several demonstrations using spacex. what is the next key marker? karan: we just finished our first successful in-space mission. as we like to say, we are now a

real space company. we are kind of resetting the supply chain, so we had to fly a bunch of the components from scratch to start buying down risk on the platform. we are now shifting gears. we are shifting toward the full satellite platform that is launching fairbury 26. we won a contract from the department of defense to fly a number of national security payloads, and our goal is to showcase this differentiate platform and buydown the risk of the platform. we are going to fly to the harshest environments, we are going to show what happens when you have 20 kilowatts of power, and prove out this completely new capability to our customer sete. caroline: karan kunjur, ceo of k2 space, it was great having time with you. coming up, adobe introduces new artificial intelligence products. will they convince investors that the software giant can compete with the other key ai startups out there? bloomberg's brady for joining us next. this is "bloomberg technology."

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caroline: welcome back to bloomberg technology. single names. there are still earnings coming thick and fast. 40% growth in terms of a previous your revenue. but also selling off the game development unit to a private company. investors love it. we are up 28%. trade desk down 38%.

they disappointed themselves in terms of their own growth in the previous year. investors try to take on more of what this means in terms of sentiment for advertising. they see an underwhelming forecast in particular, trying to see whether the cloud trend continues. story of the day, apple. we will finally get apple intelligence into china. it seems jos i -- joe tsai is confirming we are going to be teaming up with apple, giving access to our generative ai models. jackie: elon musk's bid to buy

openai is being used against the tech billionaire. it contradicts arguments that open i cannot be transferred away for private gain. in response to openai's filing, tesla ceo old the court he would drop his bid for openai if the company holds its restructuring. does this slow openai's progress? >> that is a possibility as far as the progress toward the restructuring. it puts more attention on what is happening. with the court battle, it is one more way to gum up the works. caroline: you have to remember the complex context. 2015, elon and sam, founders, it becomes not-for-profit. it becomes a for-profit with

nonprofit control. now, that might reverse as to who controls who. rachel: the structure makes it hard to understand the startup company and its access. what are you buying? you are making things awfully complicated. caroline: thank you for giving us the context. adobe is aiming to convince skeptical investors that it can compete with ai startups such as openai. it charges around 50% -- $.50 for ai generated video. we will be joined by a bloomberg reporter. interesting that we get the price point here. >> adobe, it is existential for them.

you needed adobe. the question has been once generative ai becomes more commonplace, do you still need adobe question investors change their minds every six months. today, what is so interesting is we are getting about $.50 to make ai videos. that is pretty competitive. its rivals do not have to report every quarter. they can eat costs a little longer. it is interesting to see them price so aggressively. jackie: let's talk about the product itself. how does it compare with openai and runway? brody: i thought it was cool. i tried it out yesterday and found it to be a pretty effective product. it worked well. what adobe has always said is not that we are going to have the number one best model visually, but that we are going to have really great controls. you are going to be able to integrate it with the software

you already use. you are going to keep the ecosystem in general. for enterprises, they do not want a lot of the stoke -- a lot of bespoke models coming in. there is security risk. adobe make sure it integrates well into existing environments. i was impressed with some of the manual tools, trying it out yesterday. caroline: brody ford, we appreciate it. let's bring you some macro news, government news. rfk junior has been confirmed as the new head of the u.s. department of health and human services, with a 52-48 vote after really tense confirmation hearings. that will have influence over the fda, the cdc, and the federal insurance programs. among up, we will be joined by andreessen horowitz -- the importance of computing infrastructure independence. american dynamism. this is bloomberg technology. ♪

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caroline: this is bloomberg

technology. you are looking at a live shot of the principal room. it is on apple, spotify, and i heart. this is bloomberg. morgan stanley boosting the latest debt offering of elon musk's x. it was upgraded due to strong investor demand. jackie: here is what some of bloomberg's tv guests had to say about deepseek at the paris ai summit taking place this week. >> i feel so confident about our research roadmap and product roadmap. whatever deepseek's into -- a lot of people do what they are going to do. we're just going to try to build the best technology we can and get in people's hands. >> decent work.

i think the team is probably the best we have seen come out of china. that said, a lot of claims are exaggerated and a little misleading. >> a lot of the key things from deepseek are reducing the cost of innovation, but also raising this question of data control. >> you can make the argument that if you have immense resources, you stop thinking about what to do efficiently. >> there has been a lot of excitement. we will have to see if it materializes. >> let's get to the infrastructure question in the age of deepseek with anjney midha of andreessen horowitz. where does this leave the conversation around how much infrastructure we actually need? what were you hearing on the sidelines of the paris summit? anjney: i heard we are in the era of info structure independence. i think most nationstate leaders have realized that modern ai levels have reached general-purpose technologies. in the history of technology you had maybe 20, 22 of these -- the

printing press. when that happens, leaders start realizing that the technology becomes critical to national progress. prime minister modi -- the summit was cohosted. i heard from jd vance at the summit that the united states believes that staying at the frontier of ai infrastructure and making sure open source is competitive and demand for open source ai is competitive, allied open source is competitive with the best models coming out of any country, including china. jackie: when we have the biggest players, china in the u.s., with kind of different values, competing against each other -- we will talk about nations that do not have resources on their own to compete. anjney: one of the components of ai is the data center. if you look at how we got our deep learning wave -- there is

data. there is algorithms. when it comes to compute, the idea is that there are only some regions that have enough power to stay at the frontier with these hyper centers. we've got america and we have got china. every nation is now at a reckoning point where they figure out do they build, do they buy, or do they partner. the u.s. and our allies teaming up across the infrastructure stack -- you get into models and applications. it is going to be much more likely that countries that are not hyper centers today -- whichever matches their value system the most. it is quite unlikely that people reinvent the chip stack. they are more likely to partner with a country that does match

their system. clearly, france, america, and india are working together. caroline: we were hearing a little bit from the ceo of mistral. has france got it right now? is that going to become a center in some way? do they ultimately have to depend on the u.s. at least four chips? anjney: the zeitgeist has deftly changed. the last two summits -- the first was in seoul, and the last was in bletchley park in the u.k. the theme was one of pessimism. ai is really risky. instead, what i heard this time from leaders across the e.u., not just france, was a unity of optimism, that ai can unlock passive growth for europe and america. i think france is in the middle of figuring out how to accelerate its infrastructure. they have data center

construction behind the united states and they are happy to accelerate permitting and construction. they are happy to work with american tech companies like nvidia to staff these data centers. you will see over the long-term europe start to accelerate. in the short-term, i think they want to partner with folks like america. caroline: and the administration -- you have close proximate he to the administration. the relations are at their highest moment right now. anjney: the best thing about this administration is they share everything very quickly. i think jd was clear in his speech in europe that we're putting america first and we will help our allies. nato is a huge partner for america. i think we will continue to see more investments in nato alliances. jackie: as an early investor on openai, also on the board of mistral, what do you make of this feud between elon musk and openai? does it have broad applications for the progress for other

players in the space? anjney: definitely. ultimately, where the frontier goes has implications for all of us. i think the important thing to focus on is that just a year ago there were lots of folks who were confidently testifying in front of congress that america was so far ahead of china that china could never catch up. i think what we are seeing is the gap between open source and flow source has narrowed. that is something those of us in the open-source committee have been paying attention to for a while. the gap between america and china has narrowed as well. it has been incredibly fast. the opi model came out on december 5, and barely a month and a half later is when deepseek is operable. i think the more important dynamic to pay attention to is that the gap has closed. we have partners that are not in alliances like nato. jackie: what about elon musk' is

influence in washington? did that impact other players in the space? anjney: i think elon is an important voice, but i think the reality is that we are reaching a state of disequilibrium in ai infrastructure, where a lot of basic assumptions that people had taken for granted are being revisited, like narrowing the open and flows a gap between america and other countries. there are voices in the open-source community. we mentioned the ceo of mistral. think there are other important voices like the professor at uc berkeley who has been reading evaluations. those are becoming more important to nationstate leaders. frontier ai and open source ai -- caroline: openai is getting a lot of politicization. how comfortable or uncomfortable

does that make you? a couple of weeks ago, we were talking about american dynamism in this new administration. then as a relatively politicized higher -- hire, mr. penny becoming a deal partner, a 26-year-old who is well known for having had an incident on the subway in new york that led to the death of someone who was homeless. and there was a read on that higher -- hire. how are you feeling about the perspective of the culture this has? anjney: taking a step back, i think one of the things that has always set a 16 part is how strongly the firm believes in its values. in the case of openai, the firm has taken a firm position that we believe the history of computing infrastructure shows open-source is critical to unlocking massive amounts for society. when you look at storage, networking, and so on, i think a lot of the productivity we have

seen from software comes from a value system and belief that democratizing access to the best technology, putting it in the hands of the best organizations, is what pushes technologies forward. i'm sure you could get better opinions from my partner david on that. the more important thing is that the firm stands by its values and philosophies aggressively. caroline: it is great to have time with you on the future of ai and regulation. jackie: coming up, buy now, pay later firm klarna has been added to j.p. morgan's platform. ♪

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caroline: robinhood reported revenue that more than doubled as the online trading firm was buoyed by crypto transactions around the u.s. residential election -- presidential elections. here is the ceo on "open interest." >> a lot of people focused on crypto and we will be in an innovation-friendly environment. that will be a tailwind for business as one of the few scaled players in both crypto and traditional financial assets. jackie: by now, pay later

provider klarna has been added to j.p. morgan's payment platform. the swedish fintech company has been expanding partnership deals in recent months and is targeting a u.s. ipo later this year. ceo sebastian siemiatkowski joins us now. let's talk about this partnership. it is a major u.s. bank. i want you to quantify the upside of this for us. how much of a boost in revenue does this mean for klarna? sebastian: time will tell. from our perspective, j.p. morgan is probably the largest payments company in the world. they do $2 trillion worth. for klarna that does $100 billion on an annual basis, if we are successful with them and we get 5% or 10%, that is a massive opportunity. we will find out. a big partnership like this, you announce them and it takes time because there are system

integrations. we were very excited and super proud of it, that j.p. morgan decided to work with us. caroline: it might decide to work with other players. is that an issue, competition? sebastian: they work with visa and mastercard and amex. i think the next generation of companies that you see on the screen here, they are kind of the next generation. we think of ourselves as a third-party network. i think there will be others as well. there will be others, but we are happy to be first to announce. caroline: let's talk about the third-party focus and these partnerships. no i can't talk much about an ipo, but it is up to investors to bid on the ultimate valuation of the company. you are signing up merchants but not having a direct relationship. tell us about the value. sebastian: klarna has historically signed up merchants directly. we took a closer look. the most successful expansion of a third-party network was amex

in the last two or three decades, which went from being something you only used at restaurants and hotels to being something you used everywhere. so it is all about acceptance points. that is not going to happen by our own machine. it can only happen through amazing partnerships with stripe and worldpay, and so forth. so we are super happy about this. it gives us access to millions and millions of merchants to make klarna successful. in the u.s., people associate us with by now, -- buy now, pay later, but a lot of our volume is the full amount. we offer all kinds of payment. we think of ourselves as a third-party. visa and mastercard need some competition. jackie: in the u.s., the consumer financial protection bureau, it -- it's future is in question. is this a good thing for klarna? sebastian: well, i mean -- look.

we're based in europe, where there is tough regulation. one purpose was to cut credit card interest fees, which made sense. a lot of markets -- we operate in europe. you will see the max interest rate on a card could be 60% or 80%, and in the u.s. it is very different. i think you can expect this administration will create some tough challenges to the banks. but i think the best way is going to be more competition. they can accelerate more competition and go after these success profits we have seen in the banking industry. we have always operated according to regulatory requirements. we have always said that the ethical standards are extremely important for us, and to make sure we provide services that are priced reasonably for consumers, we don't charge too

high interest or two high fees and so forth. that is going to continue to do -- to be an objective for us. jackie: real quickly, what about crypto? you have called it a decentralized ponzi scheme in 2022. has that changed? sebastian'm appy you brought that up. actually, this weekend, thanks to my board member andrew, from sequoia, i met up with a few very interesting crypto companies. after listening to them and what is happening with crypto, i did a small tweet this weekend that said, ok, i give up. it is time to explore crypto for klarna. i thought people would be sighing and thinking it is the most boring news ever in the world. that i had over a million views and people were super engaged. i got thousands of ideas of what we are going to do. i guess i am excited about that now. caroline: come back and talk ai with us soon.

klarna ceo sebastian siemiatkowski. thanks for the time. that was it for this episode of "bloomberg technology." the audience can check our podcast as well as online. ♪

scarlett: looking to bloomberg markets. let's show you what is happening in the markets right now. hotter than expected wholesale inflation report is not getting in the way of the stock market. the s&p is up and big tech is driving the danes, led specifically by tesla and nvidia. when you look at yields, they are giving back some of the big games they saw yesterday. it was the big