ed: and i'm ed ludlow in san francisco. progress in the battle of inflation. warnings on rates and we haven't even gotten to earnings yet. ed -- caroline: macro and micro, so important. plans to buy back meta-shares, working against efficiency for long-term goals in short-term cost-cutting as they get court approval to purchase avr startup. and my exclusive conversation with alex karp, who has pointed words for shareholders and potential new hires. crypto -- crypto hackers -- caroline: crypto hackers store more than ever into thousand 22. at first, let's stick with the nasdaq. you just call it. what a rally we saw for tech stocks outperforming. the relief from the federal reserve who seems to be indicating a dialing back and all of those rate hikes. the world index is up 9/10 of 1% as europe was cautious ahead of the fed, ecb, the boe. chinese tech stocks did pretty well in morning trading. two-year yields coming down significantly as we anticipate the terminal rate, where we will eventually get with the fed, slightly lower. as anxiety dies down, the money goe

ed: i'm ed ludlow in san francisco this is bloomberg technology. breaking news at the top of this hour. after hours trading after tesla is said to have been in talks and oink david. -- away a bit. another former member of sam bankman-fried's circle planning to plead guilty. we bring you the latest developments. and we continue our deep dive into the world of artificial intelligence. kevin dunlap co-founder and managing partner joins us later this hour all that coming app. let's get a look at these markets. you can see the nasdaq 100 the market passing a lot of fed speak at the moment. will it be 25 or 50 basis points. 7/10 of a percent down heavy index it was a 0.4% on the week. sort of rebounding from the decline we saw last week. that is sealed's pulling back a little bit you see the u.s. 10 year yield around five basis points. made a late effort friday to try to breach 25,000. it fell away as this kind of treading water because sunday is a holiday for presidents' day. let's go from the macro to the micro in terms of specific names across the tec

ed: some saw this coming.his is what susan herself had to say in a blog post that was published about why, the time is right for me and we have an incredible leadership team, clearly the reference. what we know about him as a leader and as an operator? mark: he's incredibly googly. he's been there since 2008. people talk to me about this. this does have value in the sense that google is a very political place and in order to get things done, youtube is a division that has to fight for resources with google cloud, with pixel, and certainly having someone who's been so experienced in the company as an asset. he is not a media executive, he never worked in media before. on programming they had robert who is their hollywood chief who left us earlier this year. his replacement was another person who worked in google ads. youtube drop their studies to compete with netflix and amazon prime. they want to be the premier at place destination and competing with tiktok. ed: what if you reflect on in your book about susan?

ed: i'm ed ludlow in san francisco.is down four point i've percent after bloomberg broke the story that the doj is preparing a suit to block adobes $20 billion deal according to the sources one source could come as soon as next month. caroline: adobe is such a dominant force in terms of software. when they announced that deal to acquire fake meth many --figma. introduce less expensive products at the moment. notably just time and time again this is an initiation that is willing to go there to worry about competition. it does feel like the bloomberg reporting getting ahead of the antitrust news. i think it's because adobe was in front of a meeting with doj which is often the case before we get this kind of announcement. ed: that is consistent with what we have seen. analysts point out in this case it probably came sooner than expected although it was kind of expected based on the actions doj has taken so far. we will stick to the story as more headlines break. coinbase, the largest crypto exchange is launching a blockcha

ed: i'm ed ludlow in san francisco, this is bloomberg technology. caroline: we break down the cpi report. ed: bringing you the latest in the world of ai. jumping again, no obvious driver. the chairman joins us to discuss with the company is doing to justify the jump in stock. caroline: and we speak to the ceo of a semi conductor company weathering the slump. joining us with their outlook. all of that in so much more, coming up. let's dig into the markets. it was a big macro picture kind of day. hotter than anticipated year on year, the nasdaq pushes through. up 6/10 of 1%. maybe near the end when they are close to fighting tactics. the two year yield, listening more to the inflation override that they are worried about with inflation remaining hot. yields in borrowing costs, dialing back on the mix, it might be more about the geopolitics. the fact that those new ufos or items were shot out of the sky. maybe a dial back the anxiety. we may have seen a bounce back in terms of crypto. look at that, a push higher in terms of bitcoin. regulatory risks? m

ed: i was at a mercedes r&d center last week. announcement was that luminar will be providing hardware that goes into their drive pilot system, part of their level 3 autonomous system, not yet a family in the u.s. are from nevada but the shares really jumped. caroline: let's talk about religion in the u.s. -- regulation in the u.s. many are discussing regulation of big tech in the u.s., m&a oversight a hot topic among many, including foundries considering where they should grow starters. is this country the best for culturing innovation? i've -- i spoke with this founder of national and in his express as an immigrant from nigeria does the u.s. remain the best place for innovation? >> it is about giving people a fighting chance. no one wants a handout. we all just want a chance to show what we are capable of. in this country, that is sometimes far-fetched. i do not get excited by the fact that we grew by 300% last year. i get excited every month. we talked about the fact that, look, some are just sitting at home because we help th

ed: terrific interview., it's the first vehicle designed without human controls and it carried passengers on a road. more on that next. i want to look at palantir, really interesting, shares surging after hours, the company recording its first ever quarterly profit in the final three months of 2022. one cent per share on a gap basis. it is saying 2023 will be the first profitable year. the market likes it, up 16% after hours. this is bloomberg. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh for businesses of all sizes, there are a lot of choices when it comes to your internet and technology needs. when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose a next generation 10g network that's always improving, getting faster; more reliable; and more intelligent to keep you ready for today and tomorrow. the choice is

ed: i'm ed ludlow. artificial intelligence is driving markets and earnings are front and center. caroline: lyft after hours falling after it is losing shares two. ed: social media in the spotlight on capitol hill with former twitter executives telling lawmakers to hold off on regulating online content. caroline: the latest on disney as activist investor nelson peltz stands down on his proxy fight. is the battle over? that and more is coming up. the first two days lows since december, 2.7%. the nasdaq off by one percentage point on the day. on the macro, the federal reserve, interest rates higher. that's why we see overall concern as evidenced in the vix picking up. the 10 year yield borrowing costs rise. the canary in the coal mine is the retail investor. they are getting bullish. the first time we have seen that since april. many say, we are now let -- like to the party. ed: so many stories for individual stocks. alphabet down another 4.4% this thursday, the biggest two day drop since march as they continue to worry about their bar ai search. disney was up significantly, over 1.

ed is in san francisco.ech sector getting left off today from the macros trends, from the fed. ed: this is the first big post fed rally since july. i will go to one chart which is nasdaq futures jump to year yield goes down. it is a snapshot of the story. we have one of the great bloomberg minds at joining us at the moment who can get into this. my point is very simple. 25 basis point hike in a morning from powell that while they are making progress on inflation they still four hikes to come. for the market, it's about windows the policy pivot come? in the context of tech, higher rates discount present value of future profits. that's what we look so closely at the relationship between yield and the nasdaq 100 or nasdaq futures in this case. you talk about bitcoin earlier but let's talk about risk assets. a pretty broad rally. i'm looking at the nasdaq 100. more speculative corners of the market like goldman sachs and nonprofits tech index, the stocks that trade at high multiples extreme multiples, some relie

ed: welcome back to bloomberg technology. i'm ed ludlow in san francisco.e invested almost 400 million in the ai starter which is testing arrival to open ai's chatgpt. the deal gives google a stake in anthropic. it does not require anthropic to spend any of the funds buying cloud services from google. it's been a long week of ai headlines. i want to break more down now with the head of responsible ai at this global ai provider to companies across finance come health care and retail. start with that. you operate in the world of ai. you are following the headlines in technological developments. the executives over at alphabet and google were ready for the questions, one are you going to pull back the curtain. what did u.s. and industry are to submit learn this week about google's latest nai? -- in ai? >> this is a fascinating topic for all of us it will affect society. definitely, after the google earnings report that indicates a lot of -- a lot about the microeconomic environment. not growing as fast as it was last year. that is the micro trend. the most int

ed: i am ed ludlow in san francisco. this is bloomberg technology. google's response to chatgpt. what we know about the conversational ai search engine named bard. the latest techtarget, dell, announcing layoffs, laying off six 650 nationwide. we dive into the beijing global surveillance push. let's get a quick check on markets. across equity markets we are seeing gains, given back so far this year, the nasdaq 100 down .8%. the other part yields pushing higher, up 11 basis points on the 10 year treasury. this is a wait-and-see moment for the market that is hit. tech. to rome powell will speak to david rubenstein -- jerome powell speak to david rubenstein on tuesday. we'll see if he walks back any commentary. bitcoin, trading 24/7, hovering around 20 -- 23,000 u.s. dollars. earnings season in tech continues. pinterest, really missing expectations. fourth-quarter quarter sales softer than expected. down 10% in after hours, offset by buyback programs and users coming in above expectations. activision blizzard up .7%, strong and to 2022. all about call of duty performance. this is a

ed: that is the doj.t was his friday bloomberg reported the sec is looking at comments musk has made around this area of self-driving as part of the investigation. the overhang seems not as important to shareholders, the prices of the cars, we saw shares rise despite headline. ed: real momentum for tesla. earlier today, i caught up with the latest ceo is here in town for bloomberg after what was a tough year last year, i asked if 2023 will be a chance to reset. here's what he told me. >> the key message is we have the launch of the battery truck. this year, we want to make sure the energy infrastructure is there. we want to make sure we have an integrated solution. the chicken and the act together. a big focus is research around batteries. multiple sources of cell supply and an acquisition of this, how do you feel about your supply going into 2023? important decision for us. the battery is important. the vertical integration is so important. we can't control the about agree, optimizer, improvement. we wil

ed: still lower across all the mega caps.o interesting is we asked our audience, did you think after meta platforms this was us turning the corner for tech stocks? everyone on twitter was bearish. no. this is a dead cat bounce. we will see on friday's session. caroline: well, they are right. we are coming off the lows after hours. tune in tomorrow for what the numbers look like and how they perform in tech stocks. that does it for this edition of bloomberg technology. tune in to twitter space friday been -- mid-day day, 12:00 noon. ed: i have the crew with me and a special guest. this is bloomberg. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. >> tol

ed: also the brand image. something everyone has been talking about on twitter, tiktok, and searching for on google. no surprise it's going viral. caroline: come back tomorrow, we will be breaking down so many earnings for you. ed: don't forget a lot to recap. check out our podcast. you can get it on apple podcasts, spotify, i heart, and bloomberg. this is bloomberg. ♪ what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh introducing the new sleep number climate360 smart bed. only smart bed in the world that actively cools, warms, ahhhhhh and effortlessly responds to both of you. our smart sleepers get 28 minutes more restful sleep per night. proven quality sleep. only from sleep number.

ed: i am ed ludlow. this is bloomberg technology. >> section 230 is front and center.e will bring you the latest from the supreme court pivot -- supreme court. ed: meta-taking cues from twitter. we will run you through the details. caroline: we will hear from brad smith as it looks to save is activision deal in europe. let's check in on these markets first and foremost. we have a day where the wind has been taken out of the sales for these benchmarks. back 2.5% on the nasdaq, the 10-year borrowing cost spiking higher. we worry about the federal reserve having to tackle inflation, and though macroeconomy -- the macroeconomy, the details we see from these retail numbers. in the equity market, over the last couple of days, bitcoin has been under pressure, but some of these correlations are breaking down. we are seeing the lowest correlations of years. we still managed to be holding over $24,000 despite the music. ed: it is the same themes, worries about the fed. tesla down five percent. across the nasdaq, 97 names close lower this tuesday. this was a story we were trackin

ed: i'm ed ludlow in san francisco.mily: elon musk continues cost-cutting and we have more on layoffs as -- production as well. ed: today's big take focuses on how the ford f1 50 lightning is built of materials alleged to be damaging the amazon. those who call it home will bring you the details. emily: snapchat unveils a new tool to protect children. all that and more coming up. foremost, we get to the markets. after a reprieve after the selloff the previous week to read we are up 6/10 of a percent on the nasdaq. europe gets a bid that largely feels to do with borrowing costs at the moment. u.s. treasuries, may be a bit of reassessment as to whether we are buying the dip when it comes to equities or bonds. let's look at what has not been bought on the dip. crypto after what has been a phenomenal january, february less so. if you look at a two day basis from the point we are tracking it is up 2% below 24,000 even on a day that we saw u.s. dollar weakness. ed: from the macro to the micro. when i look at individual names t

ed: are we there yet? elon musk says he needs until later this year to fix twitter before handing it over to a new ceo. caroline: evaluating the ai opportunity. we sit down with a partner at sequoia's capital growth team. but first, we check in on the markets. as a mean inflation will be high? the market decides to drive higher. the bond markets we were worried about the good data and they are up some six basis points. we got a bit of a sellout in chinese related names at the moment. a bit of a focus of what is happening in geopolitics. i was going to look at the micro stories. we have some significant rallies. roblox of 26%. -- up 26%. airbnb up 13%. it seems as though the strength of 2022 will continue into next year. ed: these are names i am watching. cisco forecasting sales in the april quarter will rise 11-13%, double what analysts were expecting. pouliot has gone through a second round of layoffs. -- twilio has gone through a second round of layoffs. a big surprise, boosting best stock by almost 13%.

ed: we look forward to that ipo.sticking with chips intel is looking to raise $11 billion through the bond market. a source says seven parts and time to take advantage of the demand and lower borrowing costs. following a series of downgrades from major credit assessors. expected to yield 215 basis points over treasuries. again, according to a bloomberg source. caroline: the ai race heats up and microsoft is announcing its ai powered being search engine. let's take a check on one tech company, zoom closed higher by 9% tuesday. it's actually announcing cuts to its workforce. that's part of restructuring. the ceo called himself accountable for the issues and he would himself reduce his salary and forgo his bonus. more on that ahead. this is bloomberg. ♪ (upbeat music) there's more to business than the business you're in. (robot whirring) want smarter factories? that's the internet of things business. accelerating r and d? data science business. hey. have a look. managing global supply chains? shrink our carbon footprint

ed: i and ed ludlow in san francisco.a friday vibe because it is about to be a big sunday vibe. the super bowl. it is going viral. send will expecting record bets sunday. the ceo spoke to bloomberg markets earlier. >> we are projecting 17 million bets on the platform, more than double what we would have seen last year. but, it is also our biggest acquisition moment. we will probably bring half a million new users to the platform. it is a great opportunity. you can bet on hundreds of different player props. it will be an exciting day for fans. >> is it going to be profitable for you? it is -- is it going to be a good day for you? how does this stack up in terms of bottom line? >> it is going to be a good day. it depends on the outcome of the game. the important thing is that consumers bet based on the narrative they want to see. what you are seeing is right now the money is flowing to the philadelphia eagles. apologies if you are a chiefs fan. what is most exciting is the player props. 90% of our vets will contain at least

ed: why not llama?oline: i love it, we are turning to cryptocurrencies and discuss the outlook for investments in agile assets. jill talks about all things the infrastructure of all -- overall crystal -- overall cryptocurrencies and the efficiencies they bring. this is bloomberg. ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. -hey david connect with an advisor to create your personalized plan. -let's find the right investments for your goals okay, great. j.p. morgan wealth management. these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app or upgrade to the speed that's righ

ed: still lower across all the mega caps. we asked our audience, did you think after meta-platforms this was us turning the corner for tech stocks? everyone on twitter was bearish. no. this is a dead cat counts. -- bounce. caroline: well, they are right. we are coming off the lows after hours. tune in tomorrow for what the numbers look like and how they perform in tech stocks. that does it for this edition of bloomberg technology. 92 twitter spaces friday midday, 12 noon. ed: i have the crew with me and a special guest. this is bloomberg. >> you are watchinl

ed ellington: first question, frank? gerald blessey: ed called on frank thackston first. frank thackston: mr. senator, who, in your opinion, riot and why? ed ellington: the question was, in your opinion, who was the person primarily responsible for the ole miss riots and why? [laughter] robert. kennedy: that wa an ieresting question. [laughter] frank thackston: who did he believe to be responsible for e ole mi riots? something provocative like that. and, of course, he ducked that. robert f. kennedy: can i just tell you a short story? my older brother was in the navy, and he was in intelligence, originally. and he was giving a lecture in south carolina. and he was telling the people what they should do if a bomb dropped. and he said there were two kinds of bombs that dropped and spread fire. one kind of fire, you threw sand on. and the other kind of fire, you threw water on it. but if you threw water on the one that you're supposed to throw sand on, it would spread it. so you had to be very careful. so he made this talk, and evidently it was a great success. and then, at t

ed: forty? male: yes, sir. ed: wow, that's not good. that's not good at all, you know? minutes. right now, he could be there in about a minute and a half. there's no traffic. there's nobody on the streets. this is almost like a zombie apocalypse, you know? i would equate this to a science-fiction movie. karishma: so, can you just tell us what are the challenges you're really facing on the job right now? female: you're just trying to stay healthy. you don't wanna get sick, and you don't know what--you know, who has the coronavirus. and then, you're afraid you're gonna bring it home, so we're just trying to play it safe, cleaning everything. my hands are--i can't even tell you. it's not easy. mentally it's draining. karishma: are you worried about the next couple of weeks? female: if you're not, you're crazy. ♪♪♪ [siren blaring] karishma: i hear from icu nurse zach that he's been working in a hospital in the bronx. we've been messaging each other over the last few nights. now he's ready to talk. oh, there you are. hi, zach. how you doing? zach: right now, i'm okay. i'm ex

ed: let's jump into that.ou have announced the deeper relationship with google and it is a license agreement. you pay them for help in building out your operating system. why did you do that instead of taking it on to open source software or just doing it yourself? >> the strategic partnership we have formed is about taking technology to the next level. everybody knows google maps, youtube and we said, what do our customers want? we said what can we do together? how can we make navigation in the heart go to the next level? that sparked a deeper conversation and we are announcing a partnership today. ed: the ultimate goal is to have no screen mirroring, no need to plug in the phone. the operating system would be all you need. you cannot get away from the fact that google and apple are making their own moves into this market. how can you reconcile google's own ambitions with your partnership? >> if you take a look at the mercedes now and what it will be in the future, you have this mind-boggling widescreen in th

ed hyman will continue with us.l have this, you know, been busting your chops this conundrum and enigma in the sum of all our fears. in the real world you read the people that you choose to read. that is what ed hyman has done over the many years. lisa: the conundrum wrapped in an enigma is a butchered version of winston churchill. tom: are these elements of 39? lisa: that's the question, right? a moment of potential pivotal changes and hopefully not the same kinds as 1939. tom: we will continue with ed hyman, our annmarie hordern mint -- annmarie hordern didn't is in warsaw throughout the day. lisa: keeping you up to date with news from around the world, i'm lisa mateo. the release of the federal reserve minutes are likely to show how much support there is for larger interest rate hikes. wilmore officials consider a 50 point hike? the tone could hint at how policymakers are interpreting recent data on inflation. the european union cutting the natural gas demand this winter by 1/5, meaning a voluntary 15% goal to he

stephen: ed, it's great to have you. i'm interested in how you feel about schnabel, she is hawkish and says there is much further to go with the ecb. ed: i think the euro -- king dollar will not be as king as before. other currencies will take its place. we can look at the euro or the yen. the u.s. was the first into the hiking cycle. they will also be the first to go down. that means that we will get more 25 basis point hikes from the fed. but they will stop. they are not going to 6% except under the most dire circumstances. they will be stopping when other central banks will continue on. the one currency that is more dovish than the dollar is the pound. king dollar has been somewhat of a retracement but we are as high as we will get. if we look at the x y at 100 and four, we have been as high as 114, 115. alix: what happens if the economy continues to hold up? or what happens if growth happens elsewhere? ed: i think the problem for the dollar at this point is the fact that the head has already hiked rates by 500 basis

>> but, ed, a woman died.'s december 1998 along lake michigan in wisconsin, and we've got an unexplained death, an unfaithful husband and an uproar i the peaceful village of pleasant prairie. >> people were kind of freaked out. this doesn't happen in pleasant prairie. there's a reason it's called pleasant prairie. not the kind of place you would expect to have tawdry, depraved, diabolical scheming and homicide occurring. >> pleasant prairie police department, i took this picture and am writing this on saturday, november 21, 1998 at 7:00 a.m. >> a day after the unexplained death of julie jensen here in pleasant prairie, wisconsin, detectives receive what some say is one of the most incriminating documents in the history of murder cases, a handwritten letter from the victim. >> the police opened it and read it, and that changed everything. >> i pray i'm wrong and nothing happens. >> towards the end of november 1998, julie jensen writes a letter. she describes how she fears for her life, that she has a suspicion

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>> i do. >> turn ed at 10:01. is. >> sorry. it looks like i turned in a at 10:00. >> 10:00 on the dot. >> yes, sir. >> at the house at 10:05. >> that's when you went back to the kennels after you came back from alameda, correct? >> i went to the kennels after i went to the house. >> we go got to the scene, and target to what you told law enforcement repeatedly, and went before you called 911, is that correct? >> no, sir, that's not correct. >> you're saying you didn't say that to law enforcement? >> i don't know what i said to law enforcement, mr. waters, but i can tell you this. i pulled up, and i saw paul paul. i jumped out of that car. i called 911 as quickly as i could. at that point in time when i got on the phone, then is when i went to them and did the things that i did. >> you're saying you didn't say specifically to law enforcement that you went to them prior to calling 911? >> when? >> you said you checked the bodies before you called 911. >> if i did say that, i don't believe that's accurate. did i check maggie and p

james: she doesn't want to be part a really outrages abuses of pour talks in op-ed leyna has been on record for years saying, not only wants to break up big big companies but meta, parent of facebook, should not be able to do any acquisitions, no more acquisitions. so when they deal with meta attempting to buy virtual rail at in a question are you toing to recuse ftc -- not only refused to recuse but took steps to silence essentially redact criticism from miss wilson now resigned this is basic fairness due process, and, by the way, making the ftc's rulings very vulnerable to court challenges when they basically are ignoring all precedent on basic rules on ebb impartiality, it is really disturbing. maria: a great op-ed, also says i disagree with colleagues on federal ethics ground as well we spoke with mark shafir co-head m&a at citigroup talked about regulatory environment one other issue for deals to go forward another thing in the way of economy slowing down joe. joe: why business confidence in 90s most quite low maybe larger blue chip companies higher confidence because they have

ed: there is a number of checklist items or unknowns the market wants to hear.s the situation with hulu and comcast' stakes. his reputation is now signs about fiscal prudence while they look for a successor and you can get away from -- cannot get away from pelts. they have to convince investors because there is no point of pelts being added to the board. disney's .2 investor is that the pants -- the post don't have any competency but bob iger does. we don't have a sense of his plan. the main message is revising the profit deadlines or profit deadlines. maybe reduce expectation but give us detail about how we get to that point and what cuts need to be made in order to achieve it. kriti: in a last-minute or so, what can we expect to hear on the same front that ed was talking about. what kind of delegates could we see nelson peltz go after? chris: he has gone after them with a stop price performance. it was terrible last year and in the past, the company disappointed on losses are tickly in the direct to consumer business so those are the things and compensation. d

ed: not necessarily. mike is going to talk about the headline or announcement of layoffs doesn't necessarily materialize or show up in the jobs data. on bloomberg analyst technology, we hear from employers, large companies, on the big tech side and venture katter -- venture capitalist, many of these people are able to find new jobs very quickly. the job count in terms of layoffs announced, we are already above 80,000 year today. we are only five weeks into the year. however, they are a tiny proportion of what jobs were added throughout the pandemic period. the big part of this story, undoing the blows. specific roles cup -- look at specific roles cut, many of them have 10 year, stock compensation. a lot of big companies are giving significant severance packages as well. alix: are we going to see a different labor market for private, small, medium size? mike: it is to a certain extent correct. what we are seeing, smaller companies are better able to higher because big companies are not sucking them all in.

ed: around 14.5%. 15% would be the biggest jump going back to march 2020. come. this is a leading chipmaker that makes processors that have been so ahead of the game when it comes to graphics processing, gaming and data centers. we are seeing evidence in this bullish forecast the realm of artificial intelligence. they have gotten really superior computing power. you can handle multiple data and use the gtx machines to train software, to act in a way that artificial intelligence does. in an interview with the ceo, he is modest about what is happening but it is an inflection point where companies are realizing ai matters and they know the need to invest. he talked about open ai and what we are seeing and makes the point that a it is ai platformn a business, you need something more tailor-made. guy: ed, is nvidia really an ai company, or is it just ahead of everyone right now? i am wondering whether or not this is the company looking for a proxy to play this story through or the market looking for a proxy to play this story through? ed: you always have to be c

joining us now is our coanchor ed ludlow. ed, fantastic shot of san francisco there.waking up and the news is becoming increasingly familiar. more and more job cuts. this can you shock. intel warned us. dell is the obvious case that follows that. ed: that's one that was logical in that we saw coming. bear in mind hp announced layoffs last year and had similar exposure to the same market. ibm making similar noises. it's interesting, it's a kind of 6000, 600 50, 5% of workforce. but since headcount peaked at the beginning of 2020 had no, it has been trickling lower anyway. there are two reads on this. one, the timing. it's still earlier in the year. february. it's indicative of the recovery in the market coming later than we expected. then there's the other reaction, the stock is down pretty significantly now. as has been the case throughout this time, many investors are cheering basically the costs discipline and saying that it will be good going forward. kailey: as you alluded to, we have seen there had come -- headcount go down with other companies that have been gro

ed: thank you. [laughter] dani: ed ludlow, thank you so much for joining us.up, after that cpi report with really sticky inflation we talk about housing. it was half of the makeup of the gain. this is bloomberg. ♪ >> stocks very jumpy. feels like stocks and bonds are moving in their own way. abigail is tracking the moves. abigail: the nasdaq 100 flat into that cpi information for the month of january. jumping higher and then sharply lower. up about half a percent. we have stocks higher for a third day in a row. the s&p up also reversing its loss off of its highs. over the last three days more than 1.5%. the stocks really jumping in a big way. global founders put up a great corridor. plus a lot of -- they mention a lot of their customers not really seeing signs of a slowdown. that could be one reason why we have that two year yield popping higher up seven basis points, the idea the fed has more work to do. that was probably one of the messages of the cpi report when you combine it with the jobs report. what were looking at is the january jobs report coming in a

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ed: it's about cutting costs and being leaner. think what a lot of the market is cheering, when we get market herald -- market headlines, you can make a more significant boost to your bottom line only come out of the downturn. that was starting the -- certainly the fighting talk from dell and the internal memo seen by bloomberg. by acting now, they will be prepared when that demand returns. it is interesting because dell's headcount actually peaked in january 20 20, prior to the pandemic era. a lot of the story around layoffs across the technology sector has been on doing some of the bloat, because they hired like crazy during the pandemic to meet what was a demand spike while we were all at home. that demand has fallen away. dell is a little unusual in the sense that, if you look at headcount from january 2020 to present day, it had been coming down a little. part of that is attrition, part of it is the vmware situation. now, if you look at the yellow bar on the right-hand side of your screen, when these cuts, 6600 or so, are don

ed, thank you.nder baythal, our thanks to you as well. >>> bank of america's chris hyzy r e ack who gives the forecast fothfed and how you can position your portfolio amid all the uncertainty. we're back on the "closing bell" right after this fastest reliab. you choose advanced security for total peace of mind. and you choose a next generation 10g network that's always improving, getting faster; more reliable; and more intelligent to keep you ready for today and tomorrow. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. what if you were a gigantic snack food maker? and you had to wrestle a massively complex supply chain to satisfy cravings from tokyo to toledo? so you partner with ibm consulting to bring together data and workflows so that every driver and merchandiser can serve up jalapeño, sesame, and chocolate-covered goodness with real-time, data-driven precision. let's create supply chains that hav

ed: consistency.l of this pause, the transition from raising rates to pausing they introduce that last fall in a consistent message. they remain on that message despite a day of surprises. nothing has changed that trajectory. lisa: we are looking at stickier elements of inflation, how do you parlay that into a view on how long the fed will have to keep rates at 5%? ed: it's impossible. no one can tell us that conclusively, right now, is it possible that they will have to raise rates again? absolutely, you can't take that off the table. is it more likely they have to adjust rates lower? absolutely, the odds given that direction. the timing of this is hard to say. tom: you sound like you need more data. yields are doing odd things. where alteration equality is columbia threadneedle? ed: credit spreads compressed in the past 3-4 months. rate volatility has come down and that has been a massive tale wind for risk. we could see that volatility goes sideways, potentially higher. value and credit is not supe

ed: this is going back to basics.their time and said the outlook or microsoft software is decent and that it is attractively valued and fundamentals are strong. when they look at the artificial intelligence component, they see the benefit of the top line being distant and moderate in the near term. there was so much hype about what microsoft was doing in ai research, that in the scheme of things that it will be a while before it meanly shows up in earning so just chill out. dani: to be fair, microsoft is up 13%. that is bloomberg's ed ludlow. coming up, it is about u.s. cpi. we will speak with the former fed governor, randall krasner. ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next five m

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let's get more from ed ludlow in san francisco.espite the challenges, investors seem optimistic about the results. how good were they? >> efficiency is not the buzzword, it's the full on slogan. this is the year of efficiency and that's music to the ears of investors who have been upset about the expense of the transition to the metaverse. a bullish outlook as well for the first quarter in terms of sales that were above expectations. the other metric was that facebook the platform has 2 billion daily users which is growth of 70 million from the same time one year ago. they note that meta has made changes to its products that are getting traction with user-based. again, what the investor base is cheering is cost discipline. if that carries through to thursday session, the stock will be back at levels it hasn't seen since july of last year. this is a pretty profound reaction. >> when array going to see returns from the metaverse? where we at? guest: -- ed: in one example, mark zuckerberg was asked about generative ai. his point was t

joining me now, ed car den theny.'ve talked about four potential outcomes from the economy, and more recently you'd ranked soft landing at the top with maybe a 40% probability. have you adjusted that today? >> yeah, 40%, i think, is still a likelihood, in my opinion. it's simply a subjective probability, there's no science behind it. but in my opinion, we still have a good chance, and it's the most likely of the four she scenarios i see. the other one that's relatively optimistic, we could have a no-landing scenario with inflation coming down. a lot of the january indicators including today's numbers might have been overheated by the fact that we had a very mild winter in january, and people went out and saw that the big increase in spending on food services, big increase on spending on cars, i suspect the february numbers are going to show some moderation there. so, yeah, soft landing or even a no landing with inflation continuing to moderate, i think, is possible. charles: yeah. >> today i think the market's concern

ed: aws was a surprise.he commentary was specific, ac growth decelerating in cloud on an ongoing basis over several quarters. we have gone from aws topline line growth of 40% and that his dropped to 20%. it is still significant growth. aws and amazon has accounted for the majority of operating income because the e-commerce business is not as profitable. now aws is not carrying the rest of the business. in the fourth quarter, amazon did well, sales grew 9%, payment above expectation, sustained demand. it was the weakness of the outlook that spooked investors. the commentary is about a pullback from corporate spending for the transition in the cloud. alix: where do you think there biggest problem was for alphabet? it seemed like meda would help review that in terms of the ad market but people were still surprised, why? ed: the underlying results reflect macroeconomic headwinds in the advertising market. weakness in surge, weakness in you two. i was told on the phone, she recognized resilience and search that w

nora. >> ed o'keefe, describing that all so well.you mentioned, the president changing his remarks, just a last minute to respond to president putin today, delivering words directly to the russian people saying we do not want control or we did not want to attack russia. this was never a war of necessity. it is a tragedy, in his words. putin chose this war. ed o'keefe. i want to bring in our senior correspondent, charlie d'agata. i know you were there when the president made that historic visit to the capital of ukraine yesterday. the u.s. and nato will stand firm with the people of ukraine. of course, the world has pledged tons of military aid, billions of dollars. but is it everything the ukrainians want? >> b norah, yes. there is no more powerful symbol of unity than that. yes, this would be music to the ears of many ukrainians, just to see the international support. some of what he said, "kyiv stands strong." he said that yesterday. president zelenskyy, he said a man forged in fire and steel, our support for ukraine will never wai

ed ludlow helped to write the piece and joins me now from san francisco.cinating topic, you focused on the story from both sides of the saga. hindenburg research is a company you focused on. walk us through the take away from your piece. ed: the short seller is the blanket term we apply to a firm like hindenburg research. they are a short seller and that they are set to gain when the securities relating to the companies they research targets drops, they profit. that is the business model, or part of the business model for hindenburg. if you take a step back to consider the broader goals of activist short-sellers, it becomes a pretty interesting debate about how important they are to healthy, functioning markets globally. if you forget the idea they are in it to make money, the other goal is to expose fraud. basically, point regulators in the media -- one aim is to generate news coverage -- in the right direction to continue the search. kriti: let us get the latest update on adani specifically, we know the carnage that has happened with share prices, he scr

ed: with him on musket everything's on a sliding timeline.ltimately get there but he misses self-imposed deadlines. when he started taking the reins at the end of last year, he talked about the risk of bankruptcy pretty openly but said the severe action that they had taken. reducing headcount from 7500 to less than half of that paid off. the cash flow generation was more visible after that. he has linked down that the work is not done and you will see media reports about him being in the building on weekends. working in the trenches with engineers to fix the platform problems. alix: if you get of the point to fix it enough, does he step back altogether? does he stay in the background here? otherwise, why would any person want that job if musk is standing there looking over your shoulder? ed: why anybody would want that job has been a question for a while. there was a ceo search underway and elon musk was looking for a potential candidate. this came about because in the same month, musk tweeted the pole about should i start down as ceo and ove

so urban ed is there like, do not worry about rent, or utilities, bring your best self to work.r: how does a nonprofit pull off free rent in one of the most expensive regions in the world? >> creativity, but most importantly collaboration, big time. reporter: the strategy is to employ black spending power and keep black property owners in the community. >> as expensive as housing is, we are forecasting out how much to spend and we know whoever we partner with will get a good chunk of change, so we are intentional in letting that rest with black folks. there are conversations at the state level around reparations, so this is our a small way of playing a part. reporter: this property has been in martin luther mccoy's family since the 1970's and at one time his father employed hundreds through a petroleum company. >> my father was asked about why he had this in this neighborhood and he said if we do not work and hire each other, who will? reporter: there is an office space downstairs and educators live upstairs. they share the building with another nonprofit. >> there you go. repor

and if at cooper, for instance, ed balls , cooper, for instance, ed balls, his wife, it was in four.ree payback mortgage payments. they flipped their house. do you remember flipping houses? where you, the government, the taxpayer government, where the taxpayer paid your then you paid your mortgage, then you sold house of profit, sold the house of the profit, bought another one and three times. and she's now the shadow home secretary who's making a big speech later this morning . big speech later this morning. why do think that these why do you think that these questions have sort of been forgotten ? they've had some time forgotten? they've had some time out and now it's out of power and now it's like they've got slate. they've got a blank slate. i think damian's mistake here was that he thought they could paint rishi as a free spending, private, jet flying character , private, jet flying character, forgetting his old days , being forgetting his old days, being flying on private jets , and that flying on private jets, and that we would be going back to the archives. so i the public, t