that's why apple would have to talk to baidu for this. what we're really seeing here is this feels more like a search thing than it does like some kind of fundamental ios, a.i. thing that's going on. that's because ofthese already existing agreements, and the companies they're talking to, and what they're capable of doing. there's some men tear early on when these reports started coming out said something to the effect of, oh my god, here's apple giving away everything to google or one of these other companies. maybe it's just a search deal and it's just one part of the whole a.i. puzzle. that's what i'm reading into this, but who knows? it could be bigger than that. if it is bigger than that, that says a lot about where apple is in this a.i. development and how far behind and how much further it can fall behind as it spends so much time fighting the doj over the next two or three years. >> it seems, you know, apple teaming up with google, versus i'm teaming up with baidu, very different, the perception is different. china has not approve

that's why you see conversations with baidu.e u.s., you have google as the default search engine. in china, you have baidu. china is a big market for apple. if you want to generative ai features to work in china, you need a local partner. >> i would love to finish on your latest article in business week. i want to go to the third paragraph. this year, the magna 77 -- the magnificent seven has looked more like the middling two and the mediocre two and the mid three. >> i would not put the doj specifically in that category. i would put regulation in a category of its own. they have suits in almost every country you can name off the top of your head with the u.s. being at. obviously the 27 nations that make up the eu. you have australia. you have countries in europe not within the european commission. this car thing is a major disappointment. what is the legacy for tim cook in terms of a major new product when he eventually steps down? i mean, spatial computing. the headset is cool but does it have the potential to be a $100 millio

there is internal competition and baidu has been seen as ahead.a step behind and do not forget the parent of tiktok. they have data, ai capabilities, they have been quietly making aggressive moves. haidi: that was peter elstrom. more ahead, this is bloomberg. ♪ okay y'all we got ten orders coming in... big orders! starting a business is never easy, but starting it eight months pregnant... that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours. ♪ annabelle: taking a look at u.s. futures, flat. tracking jay powell leader on in the super tuesday effect. primaries are taking place with trump winning north carolina and virginia. joe biden winning democratic contests in iowa, virginia and for mont.

so between baidu, and gemini, some investors are starting to ask where is apple's own ai strategy andek. >> it seems like it. although i guess, i suppose there's strategy, their strategy could be we will partner and essentially outsource it, you know, you could have, at some point, maybe said what's apple's search strategy, and their strategy has been let google do it. >> exactly. i mean you bring up a good point. it totally outsourced the search strategy to google. not only was that wise, but it brought in some 18 billion dollars annually to apple services units, and that worked out well, but some believe that generative ai is too important to outsource. they need their own strategy. it doesn't mean it doesn't have one. it raises the stakes for wwbc, which comes up in june. and some thing that apple is going to release its own version, or its own strategy of what it is going to do here. >> for sure. it raises the stakes. and we keep hop scotching from one developer's conference to the next it feels like from now to then. good to get your thoughts on this one. courtney, retail, you kn

haslinda: if you had to make a bet, pick a winner -- would that be baidu?w the chinese president -- chinese premier made a visit. robert: i think it is a potential endorsement in recognition of their position as a leading chinese ai company. based on our fundamental analysis, there ai business is losing money and will remain lossmaking through this year. while it is nice to have a senior politician recognize the strength of their ip, from our point of view, when are they going to monetize that and drive into profit? we don't see that happening on a reasonable timeframe. i'm afraid whilst i would love to give a positive answer, i think baidu will continue to struggle operationally. haslinda: which ones might do well? sorry to put you on the spot. which chinese tech companies might do well? robert: ok, it's all relative. there are very few chinese tech companies that can match the sort of growth projections of the magnificent seven. on a relative basis and factoring in the much lower market expectations and market valuations, really a company like tencent. te

that’s something prohibitive, she didn’t come. but they all happily promise and say i won’t go to baiduena zelenskaya that she wouldn’t come, and since the berlin patient the ukrainians really don’t like and were generally wildly happy his death, it is clear that citizen zelenskaya does not want to appear in society next to citizen navalnaya, that’s all. and it turned out that both did not arrive, or there was another plan, much more interesting, much more interesting, which they understand that the democrats are done , we need to crawl away, we need to try to crawl to the republicans , or maybe there was a call, where it was said, you ’ll come to your senses, now of course we’ll give some money, well, not as much as you want, but we’ll give something and that’s why we need to suck up to the republicans , make amends, we remember how ingratiating... so a lot of curious people in america clearly see all the failures in the ssu, and i think they are furious, because another tank burned down, an american one, in fact, these tanks were intended to protect kiev, that’s all it’s really bad if

"the wall street journal" reporting that the company held preliminary talks with china's baidu aboutgy for its devices. apple up about half a percent, baidu up 4.5% as that news is being reported. >>> meantime, china's xi jinping is set to meet american ceos in beijing next week. lauren, what's going on here? what can you tell us about the meeting? lauren: it's wednesday, and the "wall street journal" says the ceo of chubb, we've gangrene berg -- evan green greenberg, and the head of the u.s.-china business council will attend so far meeting with xi. why? look at the foreign capital flight from china. their economy is slowing, so you could say the president of china is eager to woo u.s. firms and their wallets. but separately, something is going on this weekend. dozens of ceos will be in china for their development forum, and they include apple, micron, pfizer, starbucks, you name it, about a dozen or so is ceos. it's a separate meeting and, presumably, the one with, and i would happen a few days later. "the wall street journal" is saying it would be wednesday. ashley: interesting. l

first side on the pages of the zhimin ribao newspapers, sidingping’s telegram congratulates putin, baiduons will be further developed, that is , this is maximum support, naturally not a single case of provocation, because it seems to you that it’s all so easy to hold elections on the territory of the people ’s republic of china, there are a lot of ukrainians there, there are a lot of western citizens there, and so on, there were even cases when ukrainian flags were painted , for example, opposite de representative, then washed, and so on and so forth. that is , china provided full support, so in principle this is a completely expected, interesting thing, but what is even more interesting is that it is not it just happens like this, so often our dialogues, your vladimirich, accuses me that we are some kind of floating in the clouds in our illusions of china’s relations, which means some are not, well, in that white cloud, we are soaring above this world , yes. we soar, yes , we have no illusions, illusions about china, on the contrary, on this program, and not only on this program, we hav

google >> google, and in china, baidu this is interesting. when we got the baidu report thursday or friday of last week, that told me more. they already have a deal with baidu over in china for search like they do here. so that makes me wonder if this is more of an ai search thing that they're going to do and do other ai stuff separate hi on their own. it's really unclear. but that's why ww d.c. is so point. what is the performance of that relationship, how much is apple go ipg to be relying on outside technology versus what they've been building internally. >> tim cook was in china meeting with leaders there i think that's been the most -- the eu, you don't know what's going to happen. china, you don't know what's going to happen if tiktok comes. that's a huge thing. >> it's symbiotic. apple provides a lot of jobs for all the people in manufacturing and they have a big retail footprint and so on. every time tim cook is out there, you don't know what he said it's unclear if he got that meeting with steve as well. >> one guy i'd meet with. >>

so a lot of big, well known, profitable companies -- baidu, jd.com, baba, the risk-reward is very muchay politely, they don't have free market conditions. so they can be manipulated by the government to boost to get everybody more comfortable, and that would be very much a positive for anybody that's long those stocks. liz: yes. well, you can be nice about it, we'll just say it's called the iron fist. alan, great to have you. thank you very much. [laughter] alan a nutman from the cboe where you can see in these last couple of seconds, here comes the closing bell, there is serious activity. all that noise behind him, why? we have a blue ribbon finish for the s&p and the nasdaq as trade thers wrap up for the week. traders wrap up for the week. s&p up 41, the nasdaq up 185. russell up 21. transports down 6. monday, north dakota governor doug burgum, zscaler's ceo and steve gursky. ♪ larry: hello, folks, welcome to

his visit to baidu and nord technology group comes as the u.s.o further restrict beijing's access to cutting-edge technology. according to state media lee says ai is an important engine to develop new productive forces , which is president xi jingping's latest slogan for high-tech growth. bloomberg has learned donald trump has talked about hedge fund tightened john polson as treasury secretary if he wins novembers presidential election. sources told us trump has held a series of meetings with potential cabinet picks and his name has come up in recent discussions. the european union is working on an aid package for egypt that would provide around 7.4 billion euros in a mix of grants and loans. the push to help them has become increasingly urgent after the government carried out a long-awaited devaluation that allowed its currency to weaken more than 38%. chiral is dealing with the fallout from the israel-hamas conflict. u.s. secretary of state antony blinken is calling on israel to boost the amount of food aid getting into gaza. america's top dipl

the larger sources of ai in the will, google, of course, has great ai technology, and we have it in baidua also. my original reason to invest was there needed to be a source outside of china to help compete with china in this important technology. but i am not worried about microsoft's control. i think the rumors and speculation about it is just plain false. caroline: what is so interesting as we talk of you as a veteran of venture. you are one of the most high respect the people in this space. open source was sort of an area you helped spawn within sun microsystems. did you ever anticipate you will be drawn into basically meme arguments with, at one point, the most wealthy man in the world? how do you feel about having to take to x in this way? vinod: it is not about the argument with elon. the argument is really about our competition, our technological war with china, which i've talked about before. if we have powerful technology, we should not be open sourcing and giving it to china and other bad nationstates, russia, north korea among them. they are benefiting a lot from the state-of-

the wall street journal reported its in palermo neri discussions with baidu in china because of theirenerative ai technologies particular with devices in china. when the report came out, you initially saw shares of alphabet fade on that because we've done so many different earnings stories my comes to alphabet and its search engine and the competitiveness when it comes to what's happening with ai. some of those shares we are looking at google in particular have come back. even apple before this report has been under regulatory scrutiny when it comes to the justice department in the u.s. as well as in europe. we've seen this with big tech companies and apple stocks have been in a correction year, over 10% since its most recent highs. it's clearly underperforming the broader markets was been pressured and many traders were trying to traded effort fell below the 180 level. it's been hard for traders to short any type of company especially those they got burned because of what happened with nvidia last month with their blockbuster earnings report. that stock was already under pressure com

. >> baidu and pay tm were a specific story driven by the covid imperative which they thought would lastght? but that is not the case. when interest rates rose and covid kind of stopped, those companies suffered but other things like food deliveries. now, it has a competitor which is listed so you can always look to it tomorrow the trajectory so had think there will be more nuanced investment now but there's huge opportunity. because of the unprecedented growth we are seeing in countries like india, right? 7.5 percent projected, inflation is benign so there will not be stringent monetary policy. the population is young, around 130, so that will also drive gdp. we were the eighth largest economy 10 years ago and now we are the fifth largest economy and they project it will be the third largest economy by 2027 so there's huge growth to be taken advantage of in those numbers for investors risk institutional and private. haslinda: what is there to be excited about? dan: there is a huge amount of innovation in india's in -- india's ecosystem. we have a huge amount of talent because we have a

baidu in the red.internet. >> it's actually been an interesting six to eight weeks. there's been a struggle. there's been a struggle to get through levels. we've had some nice runs. these have been trading stocks. the macro in china, i think, is -- it's easy to point out the negative. it's easy to point out the property issues. the underowned and the sentiment levels in this country for owning some of their mag seven is low, i've been -- look, i've been adding kweb to client accounts. as you're looking for places, for people in the next two to three years, i don't think there's any question you want to be in china. you talked about the b in blicep, i think they recognize, the whole spin-off thing was supposed to create value at ali baba, and it's been slowed down a bit. i think some of this is clumsy. i think china looks really interesting. and the global growth. >> all of these big chinese internet companies are returning capital to shareholders, for b baba, tencent. you like china. from a long time a

add on apple, back to a.i., is this "wall street journal" report that they held talks with china's baidu for use of a.i. on the devices. it's not like they're going to be using alphabet's gemini in china. you want to use the local provider if you're going to stay in at least the good graces of the chinese government. >> yes. google has no -- google and meta, nothing in china. >> no, they're not allowed -- basically, they're not allowed to be there. >> right. so, wow. i think that was a really good idea. and that partner would be very, very good. that would actually be something that i wouldn't be surprised if jonathan kanter put in, since it's equally as unpersuasive. >> oof. wow. you know, you always surprise me. after all these years of being together, our long time, you still surprise me. you still make it interesting, jim. >> well, i just think it was beyond the pale. it was a pastiche if not mosaic. >> don't buy me a bathing suit on temu, though. >> i thought if i had hired him at paul weiss, i would throw it back at him and say, pick your best five pages. >> i didn't get anything o

but i think that what i really liked is that, if it's true they're talking to baidu, that is a reallyher countries. but if they're able to get on the right side of a.i. in china with a state-backed strategy, you know, that will be a good thing. that could help turn the tide. i think there are a few more tough quarters in china. we start to anniversary the big declines and we'll see where we turn out but the iphone at itself is getting very old if you look at where they're echoing the covid bump, where a lot of people bought new iphones to sit in their homes, actually, in 2021 those are all going to be potentially obsolete to enjoy a.i. that could be the big catalyst, more than china next year. >> ben, appreciate it. alwa gd cckn th u.ysootohe iwi wilf, we'll see you at 1:00 and all week long. "money movers" after this. e, or buzzer beater he won't wax poetic on. ad nauseam. but oh how he can nail a software solution like the best high screen pick and roll you've ever seen. you need ron. ron needs a retirement plan. work with principal so we can help you help ron with a retirement and