ed ludlow's toured the company's factory in illinois. productions ramping up at rivian's 3.3 million square-foot ev vector, building three different vehicles and it is not easy-going. >> our biggest challenge today, really resides around the supply chain. it is a small subset of the vehicle which we do have a constraint basis. it's limiting the overall output for production. ed: a big part of the problem -- seleka semiconductor. the plant is split up with two body lines and two separate assembly lines. one i s dedicated to consumer products. rivian has focused on is factor electric pickup but is also working on the small volume suv. the other body in general summary lines are -- assembly lines are building an electronic delivery van for amazon. >> battery packs, drive units, architecture, electronics and the perception stacks is what fuels this to go quickly. ed: we got a behind the scenes look at the plant were 5200 workers work alongside hundreds of highly automated robotic arms. sheet metal and aluminum are brought in as coils. stamps

ed ludlow toured the factory in a limo you with the ceo. ed: productions ramping up at rivian's 3.3 million square-foot ev factory. the company is building three different electric vehicles and it is not easy-going. >> our biggest challenge today resides around the supply chain. it is a small subset of the vehicles which we do have on a constrained basis. it's limiting the overall output for production. ed: a big part of the problem, a lack of semi conductors. the plant is split up with two body lines and two separate assembly lines. one is dedicated to consumer products. review on has focused on its battery electric pickup but is also working on the small volume suv. the other body general assembly lines are building an electronic delivery van for amazon. >> with the ability to share the backbone between the battery packs, drive units, network architecture, perception stack is what fuels the ability to go quickly. ed: we got a behind-the-scenes look at the plant where 52 hundred workers work alongside hundreds of highly automated robotic ar

ed ludlow has been digging in. what are you seeing? ed: tesla basically putting out the bag in a really challenging supply chain environment. shares up 5% in after-hours. earnings, a revenue of over $18 billion in the quarter, significantly beyond what analysts were expecting. . that did include some time where the shanghai plant was shut down. tesla reiterated its guidance that it was a target annual growth of 50%. but supply chain issues do persist through 2022. not just chips, raw materials as well. but pretty sanguine, positive reaction from the market. it was an interesting day in the markets. we saw stocks broadly higher as stocks rallied and yields -- bombs rallied and yields were treated. . the fed may not go as aggressive as without. the s&p 500 basically flat. technology the big underperformer. the nasdaq 100 was down, why? because of netflix a real drag on the broader equities market, particularly in the technology side. let's look at the image that tells the story. this is it. look at the right side of your screen. the stree

i want to bring in ed ludlow who is just a few miles from the launchpad on how it's going to go down.we expecting tomorrow? ed: we are still expecting it to go ahead. it is stormy here and there's a lot of concern that the mission will be impacted because it's an instantaneous launch window. that means if they have a degree of uncertainty around being able to launch, they will scrub or postpone because the trajectory of the booster rocket needs to match up in a way that he can reach the iss on that trajectory. we heard from officials today that there is a backup window on saturday morning. emily: is elon musk going to be there? ed: it's an interesting question. he has been on missions before. he doesn't come to every flight. he came to inspiration for and met the crew there. i'm not sure if he will be in the room, although he has a private jet so he could go from austin early friday morning to where i am now. emily: i'm sure he will be tweeting. meantime, things on the international space station are tense given the conflict in ukraine. ed: kathy pointed out that space has always been

ed ludlow has been pouring through the numbers. it's kind of unexpected. ed: hugely unexpected. 200,000 customers lost. netflix expected to add more than 2 million. another loss of customers, 2 million loss, with ed outlook of a gain. in three out of the four regions where netflix operates, the lost customers. after hours, this is the fifth quarter were there has been a negative reaction. none of this we saw coming but when you consider markets throughout the day, a rally across equities relative to the broader market despite yields continuing to elevate. a risk on mode with bitcoin getting caught up in it. the other big story i have been tracking -- and elon musk's bid to buy the company. twitter lower on tuesday -- the big news apollo getting in on the act saying they would partner with musk or another private equity firm with credit backing or preferential equity. the new york post reporting that musk is struggling to get backers. he could put 10 billion dollars to $15 billion of his own money in and do some kind of leveraged buyout. one story -- we have

kriti: ed ludlow and paul sweeney, thank you for your time and insight.ou can check out paul on "bloomberg markets" radio 10:00 a.m. every day and ed ludlow on "bloomberg technology" every day , both tracking moves when it comes to technology and in the media space. breaking news, cutter exploring boosting lng inspection. there wanda -- lng production. they are building new contract with the rest of europe like the italy's and france, as you see the european dependence on russia wayne. we will see how quickly they can ramp up production. that seems to be the major question. for now, let's stick with the stock story. tesla kicks off on our earnings after the bell. we break down what to expect with ben callow coming up next. this is bloomberg. ♪ kriti: this is "bloomberg markets." shares of tesla lowered today ahead of the company's first quarter results, expected after the bell. investors eyeing any guidance on the impacts of the shanghai shutdown and word on musk's twitter ambitions. here for a preview is ben callow , senior research analyst. thank you fo

bloomberg's ed ludlow is here with more on the latest. lo now weighing a bid for twitter as well? ed: bloomberg sources saying apollo's weighing a lot of options. either they back musk plus bid or a bid from others. one other report suggested apollo could go to twitter and help their defense and say let's do something together directly. as with all deals you get the usual caveats, the deal may not happen depending on certain circumstances. as they allude to in the new york post, the story of the day reporting elon musk is , struggling to find backers for his own bed but ultimately is considering putting 10 to 15 billion of his own money he dollars needs to find the financing because the figure currently on the table is a $43 billion valuation. emily: one of the takeaways as investors need to buckle up. this could be a long ride. this fight could go on for months. ed: we have discussed on this show, all the experts in the world of m&a saying it is playing out as a textbook scenario for a hostile takeover. there are lots of options, we think

ed ludlow has been digging in. what are you seeing? ed: tesla basically putting out the bag in a really challenging supply chain environment. shares up 5%. earnings three point $25 a share, significantly beyond what analysts were expecting. this did include some time when the shanghai plant was shut down. tesla reiterating its guidance that it wants to target annual growth of 50%. but supply chain issues do persist through 2022, and they're talking about not just chips. they are talking room materials as well. but a pretty sanguine reaction from the market. it was interesting today. we did see stocks broadly higher as bonds yet -- bonds rallied, yields retreated. the idea that the fed might not go as aggressive as we thought. technology is the big underperformer. the nasdaq down 1.5%. why? netflix. the biggest drop since 2004, a real drag on the broader equities market, particularly in the technology sector. if i use my bloomberg terminal, look at the image that tells the story. look at the right hand side of your screen. the street was

ed ludlow, thank you. i want to stick with twitter and bring in insider intelligence principal analyst jasmine enberg, as well as bloomberg's davis. ed just walked us through the nuts and bolts of the deal. talk to us about the unknowns at this point. we have twitter earnings coming up in a few days. is there a chance elon musk could see the numbers and say, hey, no thanks? >> the unknowns that we have at this point are many. but it is official, there is a deal. what we do not know is the $21 billion equity checked we just talked about, how much of that the end of the day will be officially from musk and how much of that will take the form of other equity partners coming in. it is our understanding that musk is speaking with other potential equity partners and that it was not necessary for them to have that lined up before they made this deal public. and that things obviously materialized so quickly over the weekend. that could be part of why we don't see that yet. another question we have is what happens f

bloomberg's ed ludlow has been breaking down the numbers. ed: what exactly does this mean? ed: what a day. what a day. the stock up almost 6%, its biggest gain since april 5, the day after the stock surged 27% april 4 when musk first disclosed his stake and it is now trading at its highest level since mid-november. as you said, elon musk will pay each shareholder of note $54.20 per each share they hold, and the aim is to take this transaction private, get it done by the end of the year. they have unanimous board approval. the stock was halted late during the session. look at this chart. people positioning to understand this. so much reporting came out over the weekend that musk had been negotiating with twitter's board right until the early hours of monday morning. they were close to a deal, that something could come as soon as monday, and that is exactly what happened. many of the facts of the deal on the same as we knew. $25.5 billion of debt financing, different lines of credit, revolving credit and a margin loan, $12.5 billion. the remaining $21 billion as equity financ

kriti: we want to bring in ed ludlow who joins us from san francisco. i'm curious about your perspective here because i think one of my favorite things you said last week is that elon musk is the richest men in the world but he is cash poor. financing from the likes of bank of america, morgan stanley, aufg. how will that look? ed: $25.5 billion in committed financing according to sources is what gave twitter's board confidence this is a real deal. we also know elon musk is still out there vetting potential co-investors for the equity portion. he is receiving calls from people interested. he only has $3 billion of cash. there are questions like who does he do a deal with? he bring in somebody that is a kind of activist investor to make changes on the platform? or at this stage is he looking at the remainder of the cash needed? jon: let's ask that question. some people thought maybe there might be some professional investor group that would want to compete against mosque and take a run -- musk and take a run at twitter. it doesn't seem to have materialize

jonathan: ed ludlow joins us on the phone. he's been following this closely for us. at has changed over the weekend coming into this week? ed: a lot. it has been a busy weekend -- jonathan: i think we might have lost ed ludlow briefly. take a beat and we will come back to you in just a moment. $51.51, up more than 5%. as we said over the weekend, elon musk reporter lee met with twitter executives. that story first reported by dell, "the wall street journal." our story reporting that twitter mayi -- may ink a deal as soon as today. tom: morgan stanley supposedly involved in that. using that change the dialogue? jonathan: let's get back to ed ludlow. run me through it. ed: tom is exact a right. over the weekend, elon musk held calls with key investors. he met with twitter executives. this is him playing his best hand according to sources, trying to sell his best vision of how he changes the twitter platform, how he boost revenues. he's being really active in this, and it is just how it played out over the weekend. he has his bankers working the deal. he himself was work

ed ludlow covering technology for us.resident biden and the vice president and barack obama are beginning remarks on the affordable care act. otherwise known as obamacare, and medicaid. are there any comments pertaining to ukraine, we will bring them to you. go to li fico -- livgo. hot wheels got to $1 billion in sales with the head of mattel. this is bloomberg. >> passed legislation that allows a medicare to directly negotiate prescription drug prices with pharmaceutical companies. ♪ matt: this is bloomberg markets. time for today's what it is worth sacrament. we are focused on the toy industry. although it is facing supply chain issues and inflation hurdles, cells are expected to exceed $100 billion by 2023. what i think is interesting is we are about to talk with a guy who runs hot wheels and they have reached $1 billion in sales. jon: it is pretty remarkable, our charts tell you the story. during the pandemic, toys were very popular. when we started having a conversation on economic concerns of slowing growth or even

ed ludlow is here. ed: friday firmly in the red, the nasdaq down 2.7%, the biggest drop since march 7. you're talking about netflix, snap earlier in the week. we have anxiety going into a crucial week for the mega cap next week. were also looking at the fed speak and the pace of hikes and how aggressive they will bp did yields a little -- how aggressive they will be. looking at yields. bitcoin caught up in the overall risk off sentiment we have seen, below $40,000. brace yourself, emily chang because the nasdaq is at its lowest level in six weeks but it gets worse. in the month of april, tracking for the worst month since 2008. we are talking about performance in equity markets that looks like it did in the financial crisis. going into a week where the stakes are so high. you have apple and amazon reporting earnings in the same three day period. it sets us up for big questions about the fundamental outlook for the rest of the year, questions around supply chain, the consumer, inflation and growing input

to break it down is sonali basak and ed ludlow.onali, one of the big conversations is going to be can you take this seriously echo what do you make of the report. sonali: they could back musk bid but also a different private equity firm. apollo has put together these financing packages -- this is not quite equity -- they will be the financing not an equity partner. but it does add the potential for billions of dollars coming quickly from a source that is not a banking source. jon: that is the wall street perspective. ed, let's bring you into the conversation and what they are talking about at twitter in san francisco and what they feel their options are. ed: we got the filing monday about the poison pill and it was instituted principally to give the board time to assess what their options are and come up with the action or decision that was in the best interest of shareholders. he saw elon musk tweet that over the last 48 hours that the board did not institute a poison pill because of elon musk, they instituted it because they were

ed ludlow is back. interesting, you did see the meta-company of facebook come out and made gains. caught up in optimism and interest in social media stocks. that surge in twitter raises the question, is this a positive move? elon musk taking a 9.2% stake in twitter? we heard from kathy wood. she actually showed twitter shares. this is what she had to say. >> this could be setting up for another leadership change in twitter but i am not jumping to this conclusion automatically. i am saying it is one of many possibilities. it could be changing the policy of the company to open source. be it censorship or calling people out on censorship or a management change. i don't know what will happen. >> kathy is saying she is not sure what will happen but this could be a shot for the twitter ceo. it could be a warning from elon musk. she talked a little bit about the landscape of social media stocks. they have not been great this year. just a quick point. that jump in twitter shares we saw actually took twitter pre

ed ludlow breaks it all down for us. take it away. ed: everyone trying to make sense of what this means, going back to basics, it's an all cash offer, $54.24 per share. in the regulatory filing he said that part of the offer was conditional on the anticipated financing, one of the big questions, how does he pay for this? huge interest. come with me to my bloomberg terminal. look at the volume. the line on the right hand side mimics what we saw on april 4, when the stake that he held on twitter was first disclosed. shares changing hand over a holiday weekend with the retail investor also being a big part of the story. it will be interesting to see that on the right-hand side of the screen. how is he going to pay for this? he said he did have the financial assets to make it happen and had reservations about whether it would ultimately happen. tesla is down almost 4%. this is just one of the hypothesis out there, that he might sell some of his shares to fund the offer but another hypothesis is that he borrows against the value of the shar

let's cross to ed ludlow.lications from this audit out the potential downgrade, and what was the thinking by elon musk? reporter: i don't know was hugely surprising, dead was a big part of this deal -- the loan to value ratio is 20%, markets having to put up $62 billion worth just to borrow $12.5 billion. it was interesting, the statement from twitter said the new entity would be owned by a wholly owned entity controlled by mosque. there is no suggestion there is anything apart from mosque. mn paul: he was running two companies. is he getting spread thin? reporter: the immediate reaction from investors is no, the key risk is diminished. he can pull all of this in one go. he has a track record of doing so. moving from place to place, working on his cell phone, tweeting on the air. this is all in a normal day. paul: ed ludlow. let's get to vonnie quinn. vonnie: the white house says it's preparing a financing package for you rain -- ukraine. u.s. officials committed millions of dollars in financing. lloyd austin

ed ludlow is here with the rundown. ed: alphabet parent company, google down. a rare miss on the top line. below estimates -- i know and we told you about macro headwinds, particularly in advertising that you are going to dig into. also announcing a share buyback program. signs already this is feeding through to the broader market, so we are interested in how the psychology and big tech is going to feed off of these earnings. microsoft beating expectations on the top and bottom line. the strength in hardware on the gaming side, taking share with xbox. going into their earnings week, a lot of anxiety. look where we are in the month of april -- the declines we've seen in mega cap stocks. that's why we are so zero in on what we are seeing in the after hours. where do we stand with the market this coming tuesday, wednesday, thursday? you see across big tech -- now we have google, earnings after hours, disappointing investors. this is where we finish the session -- the nasdaq 100 down 3.9%, biggest drop since february 3. this tech heavy index at its lowest level sin

ed ludlow breaks it all down for us. ed: to say it was a choppy day per trading in twitter is an understatement. this is a $43 billion all-cash offer, $53 per share from moscow. he said it is conditional on quote, anticipated financing which is one of the big questions. huge interest in terms of shares traded. let's look at the volumes. the line on the right-hand side of this chart mimics what we saw april 4, when the state elon musk held in twitter was first disclosed, 250 million shares changing hands ahead of the holiday weekend. retail investors also a big part of this story, interesting to see that on the right-hand side of your screen. i mentioned how was he going to pay for this, during that ted talk he said he had the financial assets to make it happen. he said he had reservations about whether it would ultimately happen. tesla down almost 4%, just one of the hypotheses is that mosques might style -- musk might sell some of his tesla shares keep on this. the other theory is he borrows against his shares. some brea

joining us now is ed ludlow. apollo reportedly is entering this conversation. others likely to join in? ed: it's a company's right to private equity, there is no dual class share structure. you'll remember elon musk reply to a tweet saying that in his opinion, this was used not necessarily to deflect elon musk, but in his opinion, it was the board taking notice that other bidders would come in. it was one of the hypotheses of bloomberg intelligence and others on the street for some time. this deal, according to sources, would be apollo supporting and elon musk bid, potentially supporting another credit equity bid, or even, some media have reported, going to twitter directly and doing a deal with them, which would ward off some of the takeover interests. anna: good morning to you. the story has twists and turns. we also heard from elon musk tweeting, as would be appropriate in the story, a lot of people saying he is coming through with an offer for the business. where does elon musk go from here? do we have any sense of that? ed: he expressed doubt on thursday th

let's bring in ed ludlow. we know he's a close to jack dorsey. idea on what was the motivation behind doing this? ed: it is hard to say. the filing day was march 14 and it was march 26 when elon musk tweeted that pole about whether the platform twitter is adhering to free speech principles. overwhelmingly twitter followers voted that it didn't. he continued to say the outcome of the pole would have big consequences. there you see it on your screen. he said he might start his own social media platform himself but you have to remember, the whole time he was doing it, he did hold that 9.2% stake in the company which is technically based on the filing type he used -- a passive state. whether he becomes active, wall street can speculate all day. haidi: we spoke to cathie wood earlier and is speculating this could throw the door open to a shakeup at twitter. ed: right. the point is this was a shot across the bow for the current twitter ceo who became ceo in the first week of december after jack dorsey announced he would step down. at that time, elon mus

ed ludlow is here to break it down. we can debate the long-term impact but no question it has been good for investors in the last 48 hours. ed: especially considering that stocks were lower and a lot of hawkish comments from the fed weigh down shares. it has had its biggest two-day gain, above 30%. here's the reality of the situation. there's a staggering volume of twitter shares that exchanged hands over the last two days. that chart says it all. look at the right hand side of the screen. that's after more than 250 million shares changed hands on monday. investors on the retail side, look at trading platforms like fidelity. a lot of demand for twitter shares as investors trying to work out is this a good thing? direction on the stock suggest so. there's a little irony in all of this. before the big surgery got on monday, around 28%, another 2% on tuesday, twitter was down. it is now very firmly in positive territory and you can see we are outperforming tesla on a year-to-date basis, which is higher. and it is interestin

ed ludlow joins us in florida. what is this going to be like? will be similar to the missions that spacex has already flown for nasa astronauts. 20-hour journey from here to the international space station. the crew is four civilians, three of which paid a reported $55 million to do so. they will spend eight days at the international space station doing scientific experiments, but it is also a bit of a holiday. spacex is the carrier, the rocket provider, and axiom is basically the travel agent that you book is through. their ambitions are much greater, a lot of discussion about the long-term lifeline of the iss and whether a private space station is the way to go. that is what axiom want to achieve in the long run. matt: what do we know about the crew? ed: the first member is a former nasa astronaut, three shuttle missions, one mission to the iss and a russian so use rocket. he is now the vice president at axiom. the others are high net worth individuals, entrepreneurs, investors. larry connor is a real estate magnate. there is someone from the

let's bring in ed ludlow to talk about just how big a milestone this is in the private space race. he details from the ground. how is this? ed: another flawless execution. the crew are well after about two hours in the capsule, in orbit. they had their first space meal. as you know, it is a 20 hour trip from here in the cape up to the international space station. they are due to dock at around 9:30 eastern time on saturday, and everything went as planned. i sat here in the thunder and lightning on thursday night. the weather really cleared up. high pressure brought cold, dry air into the equation, and spacex were able to lift off on schedule on friday morning. emily: what is going to happen on the iss? are they going to meet russian astronauts? ed: this is the question. the backdrop is the tension because of the war in ukraine. there are three cosmonauts on board. official told me that if the cosmonauts invited the astronauts to dinner, they could go across and have dinner, but there are bigger issues. here is what bill nelson, administrator of nasa, had to say. bill: even with the

for more, let's cross our west coast reporter, ed ludlow. what stood out to you? : alphabet is a company that doesn't miss on the top line. revenue of $56 billion, only moderately below southside estimates of 56.1 billion. two problems. weakness in its ad placement business in europe, headwinds from the conflict in ukraine, the macro picture. and just macro uncertainty. we have seen over this earnings season, advertisers pulling back slightly because of what is going on around the world. the second part interestingly, youtube. revenue at youtube became in below expectations. two factors that executives talk about, the first, changes that apple has done to third-party tracking on ios. also, this competition with youtube. tiktok is increasingly being discussed when it comes to social media and the impact that is having, in terms of stealing eyes away from platforms like youtube. haidi: for microsoft, it was a narrow beat, but the cloud division remains very strong. ed: yes, microsoft is a cloud story. the sell-side reaction, shares are higher in after-hours. the clou

ed ludlow has been pouring through the numbers. what does it say? e stand is there is a termination fee in place for both parties. if elon musk walks away from this deal, he has to pay twitter $1 billion. if twitter walks away from the deal, they have to pay elon musk and the incorporated company he set up for the deal $1 billion. the other thing is the structure of the deal, twitter becomes a subsidiary of x holdings inc., one of the businesses elon musk set up to do this deal. what it doesn't say is more interesting. it talks about the $21 billion in financing elon musk has to come up with, alongside the debt financing which we have plenty of details on. look at my board. tesla is down 12% during tuesday's session, the biggest drop since september, 2020. lots of theories out there. when risk is one risk is is elon musk distracted? how is he going to fund that? will he sell down some tesla shares or some of the assets he owned to finance it? let's look at his net wealth. he's the world's richest man, but only on paper. he's only got $3 billion in ca

ed ludlow sat down with the nasa chief. >> you are very busy.xiom been hard to fit in alongside all of the other launches that nasa has going on? >> i love it when we have a traffic jam, it's great. the range can only take so much although that deficiency will increase. we are going to see one a day, sometimes two lodges a day in the future. >> four private citizens going to the international space station. there are three russian cosmonauts currently aboard iss. will they have dinner together? >> of course. three russians, three americans, and one german astronaut on the permanent crew that is there. this is an iss, international space station. >> you know what i'm saying, tensions here between the u.s. and russia are high. >> look at the professional relationship between the cosmonauts and the astronauts. >> you expect that to be the case, even with that axiom crew. >> even with the terrible things that vladimir putin is putting on the ukrainian people, i expect the professional relationship between astronauts and cosmonauts to continue for th

joining us from san francisco is ed ludlow. estion whether he will be on the call but according to twitter he says yes you will be. ed: twitter users, tesla fans, elon fans have been asking if you will be on the call and he said yes. we hope to hear from him in the early part of this evening but really the focus is on the lockdown of the shanghai plant, what is the impact of that. how do we quantify that. dan leavy at credit suisse says he puts tesla around 90,000 vehicles in terms of production loss in the second quarter and he adjusted for the year. shanghai is really the engine room of tesla's global growth. we take into account inflation, the company is talked about headwinds and hiring costs have an impact on margins although they've been able to raise prices. >> good to see you and they've made some pretty bold statements and done some hiring in an attempt to get a handle on some of those costs. i'm thinking about lithium and the fact that they hired mining experts on whether they should start going up the supply chain. th

caroline: the real news from ed ludlow.peaking of elon musk using twitter, let's talk about who used to lead twitter, jack dorsey. ever since leaving that business , he has become more and more focused on his next big vision, crypto, particularly bitcoin. >> if bitcoin existed before twitter started, i think we would seek completely different business models. i think we would see a lot less of the issues advertising systems can bring up in terms of privacy and, you know, everything we are seeing around surveillance capitalism as well. caroline: now for more on this i want to bring in sarah frier. a beautifully written story, obnoxiousness to make you laugh, but talk to us first and foremost about jack orsi and when his love for bitcoin first arose. >> it came to the forefront during his trip to africa. when he went there, he saw how people were, were working the payments, how bitcoin could be a really fundamental technology in that part of the world and he was so inspired by that it he said he wanted to move there for three

i think ed ludlow can hear me now so what can you tell us?in of victory was incredibly tight. this is still a possible diller t that there will be challenges and recounts but as we've written in many stories, amazon employs hundreds of thousands of people in the u.s. for many years, they have been able to push back against unionization stuff in the united states, there are constant television ads running in the u.s.. amazon is talking about $15 an hour and health care available from day one. that's with their argument is and there's not the need to unionize as the way amazon pays its workers at all levels and the additional benefits given to health care are sufficient. in the case of the new york election, the union clenched what i expect to be a narrow victory. it's a watershed moment for this company. in terms of how this will be replica catered, walk us through the process. is amazon fighting similar pushes elsewhere? will this have an impact, the fact that there is a victory here? it's a potential victory for the union. will this involvem

joining us now is ed ludlow, in san francisco. let's first start off with the $21 billion question. w does elon musk come up with that number? ed: it is certainly options. now that the board has unanimously accepted the bid, we move from it being a hostile takeover to a friendly takeover. one option is private he and -- private equity comes in. we may see other names in the hat come back in. the other is the role of elon musk's net wealth. he is the world's richest man, but cash poor. he has $3 billion in cash equivalent. there is a piece today that explains that we don't have all visibility into his private wealth. some of his investments, his portfolio, might have done better than we know. he may be more cash-rich than we know. more likely, you look at the role of tesla stock, not necessarily that he would sell it down, but it could be collateral in the margin loan portion of the debt financing. he could borrow against those holdings, as he has done for many years, and come up with cash that way. guy: we are going to get earnings in a few days. i'm sure it will come to another numb

kailey: thank you, ed ludlow.mmissioner for competition will be joining balance of power with david westin. guy: here in london i'm going to be going to the cable show. top of the hour 12:00 in new york, at :00 p.m. in london. looking forward to that show. -- 5:00 p.m. in london. looking forward to that show. this is bloomberg. ♪ announcer: this is "balance of power" with david westin. ♪ david: from bloomberg world headquarters and television worldwide, a comeback. starting today with ukraine, sanctions mounting as the senate voted earlier today to remove the preferred tray status for russia, as well as to embargo oil and gas. meantime, talks seem to be going nowhere between ukraine and russia. for update, we turn to our white house and

ed ludlow covers twitter and he is joining us from san francisco. ave heard from twitter, they received the bid and will do a comprehensive review. ed: it is interesting because in the amended regulatory filing, elon musk's associates pointed out twitter had not responded to the additional $54.20 a share of that on april 13. you raised a good point. he is getting $25.5 billion of debt financing, but $21 billion of equity out of elon musk's own pocket. you said it, funding secured. elon musk has not set it. you have to question where that when he one dollars is coming from. anna: and linking to the other story you've been covering, are the other options tesla stakes? sec. kerry: -- ed: one of the options is he could sell down his tesla equity. if you go to the bloomberg and hit the wealth analysis to it will show you the breakdown. he has options. boring company, another one of his investments raised $655 million overnight. it is hard to keep all of this elon musk stuff in your head. that is one option. tesla is doing well and he has not sold stock in

ed ludlow is here to talk about what is happening from a twitter point of view. it's kick it around. let's figure out where we are. ed, nobody thinks that this is a passive stake. it's tried to answer the question. elon musk does have a twitter problem. what does he want this to look like? -- ed: first of all, the regulatory filing was dated march 14. the series of tweets elon musk made about twitter is a device for freedom of speech, raising the idea that he might launch his own social media platform, those were dated arch 25th and march 26, so he already held the stake when he raised this idea. you look at twitter shares, up 20% off some of the highs of the session, the biggest jump since september 2016. clearly whatever investors think will happen next, they see it as a positive, much like they look at the intervention of elliott management. this is not the first rodeo when it comes to activist managers looking at twitter. we know this is an activist guy. kriti: we have to talk about what this means for elon musk's other business, tesla. we are looking at stori

ed ludlow back with the movers. not just twitter. ikes of a meta, snap, google, and also youtube made gains, caught up in this optimism and interest during markets day monday in social media stocks. that surge in twitter it raises the question, is this a positive move, elon musk taking a 9.2% stake in twitter? what will happen next. earlier we heard from cathie wood, the coo of arc whose innovation shed twitter shares earlier this year. cathie: i will say this could be setting up for another leadership change at twitter. you never know. i am not jumping to this conclusion automatically. i am saying it is one of many possibilities. it will either be changing the policy of the company, to really open source, the censorship for call people out on censorship. or it will be a management change. i don't know what is going to happen. ed: cathie wood saying she is not sure what is going to happen, but this could be a shot across the bow for the ceo of twitter, it could be a warning from elon musk. she also talked a bit about the landscape for

let's get to our west coast reporter ed ludlow. : overall revenue growth was 20%, $56 billion in the first quarter. the street was looking for $56.1 billion, so it was a modest mix of estimates. in europe, they saw the headwinds from the conflict. there businesses where they place ads in other areas beyond google search. and youtube was really interesting, revenue came in softer than expected. there are two issues here. the first the executives talked about was the changes that apple made to the ios 4 third-party app tracking. that has been for issues -- that has been an issue for others like meta. then when you think about it snap and twitter, there is a competition for eyeballs, regardless of the medium, and tick is certainly weighing on youtube a little. shery: and we continue to watch microsoft. we saw a rebound in after-hours trading. this is what the cfo had to say about risks in china. >> supply chain constraints, which are specifically related to the production shutdowns in china. i generally follow the same principle, which

ed ludlow went to rivian's factory in illinois and chatted with the ceo. g up at rivian's 3.3 million square-foot factory. >> our biggest challenge today is around the supply chain. it is a small set of the components in our vehicle which we do have on a constrained basis and it is elevating the overall -- it is limiting the overall output. ed: a big part of the problem is the lack of semiconductors. the plant has does go separate body lines and does do general simply lines. one is dedicated to consumer will -- also working on small volumes of the art one asked. the other assembly lines are building two versions of an electric to very van for amazon. >> to share between the battery pack, the tribe units, the electronics, the perceptions, is what fuels the ability to go quickly. ed: we got behind the scenes look at the plant where 5200 workers worked alongside hundreds of highly automated robotic arms. sheet-metal is brought in. mastiff industrial stamps generating force shape the metal into panels that fit the products. the body shop fuses all the panels to

ed ludlow joins us from stinson to the scope. were already covering tesla news and now you get this? ed: it's the biggest jump since their ipo introduction and it's interesting, the company is on track to add billions in market cap on this investment and at 9.2% elon musk becomes the biggest single individual entity or institutional shareholder of the company and it is important to note that filing was dated march 14. as you said, he hinted that he wanted to shake up the platform and that he might start his own social media platforms. he asked whether twitter represented free speech adequately. that was march 25, 11 days after the date of the filing he got today. he clearly had been thinking about this for some time. jon: when it comes to the road ahead, we heard dan alluding to this earlier, any idea of what his next steps might be? ed: we call it a passive investment. to qualify for 813 g filing you have to have a certified steak and no intention to control the issuing company but the consensus on wall street, you heard it from

ed ludlow in sanford disco, thank you very much, indeed. coming, u.s.ecretary of state and defense secretary going to ukraine for a late-night meeting with president zelenskyy. we will give you the highlights of that high-level meeting at one it means in terms of policy and action on the ground. that is next. this is bloomberg. ♪ >> in terms of russia war aims, russia has already failed and ukraine has already succeeded because the principal aim that president putin brought to this, in his own words, was to fully subsume ukraine back into russia, to take away its sovereignty and independence, and that has not happened and clearly will not happen. guy: tony blinken, u.s. secretary of state, visiting this weekend ukraine's president zelenskyy. did so last night in kyiv. joining us now is bloomberg's annmarie hordern in washington. the defense secretary was there as well. we are going to see returning of diplomats and we are going to see more weapons. what are the implications of this trip? annmarie: first off, it was symbolic in the sense that we have not

haidi: let's bring in ed ludlow joining us from san francisco. there was a lot of good. record quarterly profit, surprising sales. we got a tease of the robotaxi everyone is so bullish on. ed: you have a backdrop of continued supply chain pressure. raw material costs were haidi first quarter and rose in the second quarter but they were able to use raising prices as a lever. for the first time automotive gross margins excluding regulatory credits were above 30%. record operating margins of 19%. they are able to control what we are seeing with global inflation because of the demand picture that is sustained. the difficulty is in areas like shanghai, where they have had to shut down production. they have since restarted, and despite the disruption, elon musk was super bullish that we would see record deliveries in this current second-quarter if they are able to pull a rabbit out of the hat, quote-unquote, but definitely in the third and fourth quarter. there is all these forward-looking statements. a robotaxi version of eight tesla vehicle, no steering wheel, no pedals, to b

ed ludlow is here to walk us through it. ed: a sharp reversal, jay powell saying a 50 point hike is on the table for a ticket to the market, thinking about the path forward and how aggressive the path will be. we saw yields rise, bringing down the equity markets for the nasdaq 100. bright spot, though, tesla closing up 3%. it had been up as much as 11%, biggest jump since january. looking at how the stock traded, it kind of just about made it to a 3% gain but as the market fell away and yields rose, we saw the tech stocks giveaway with tesla being the standalone gainer with twitter being another big story. we will go through those developments throughout the show but the main takeaway is that it is off 10% with secured financing options on the table where he is ready to negotiate and there is great reporting to come for the steps he's taken. digging into this after hours, just crazy moves, snap. we are 6% higher after hours. they had been softer on topline growth and user growth than was expected. marginally softer talking ab

ed ludlow spotted something there. he joined us -- joins us again now.alk to us about tesla, elon musk, what actually happened here. >> even by musk and tesla standards, this was odd. i saw some tweets from some of the community that follows elon musk and twitter. some of the tesla owners and shareholders. they were sharing screen grabs and just after 11:30 eastern, the stocks jumped. i looked at the image of the press release and this is a well-known pr company. they don't represent tesla. they don't represent written corporations. it was a fake release. what is astonishing is the release was published yesterday, on tuesday and the market reacting, look at that chart on wednesday. >> official responses, actual technical official responses coming from the company? >> yes. we got this from tom lewis who called this fake news, his words. no deal with tesla. tesla did not respond, they don't have this that expanded in 2020. we issued a press release. saying contrary to what had been reported, there was no discussion with tesla but here is the interesting pa

shery: ed ludlow with the latest on elon musk and twitter.nting down to the start of trading in tokyo and seoul. in japan, softbank lined up at 11 banks, including j.p. morgan and goldman sachs, and a term loan for the arm unit. mitsubishi is working with bakken energy unclean hydrogen. labor cash earnings for february, and pmi's for march, set for release shortly. we will bring you the latest numbers. in korea we have some eco data. consumer prices rising to the highest level since december 2011. a number the be ok will be watching closely next week. asset reserves at the end of march falling to a little more than $457 billion. sk shieldus could raise $864 million in its ipo next month. that would put it among the top three listings in asia so far this year. haidi: it is rba decision day. this is the picture when it comes to markets that are trading at the moment. we are about half an hour out from the start of trading at sydney. we are likely to see a bump at the start of the session. we are also watching at xfinity, we live and work in the

let's get back to markets and our ed ludlow. the first quarter of the year much like we lived it, tech stocks down again. ed: it was a quarter of volatility. we talked about how for the nasdaq 100, it was the biggest quarterly drop or the first quarterly drop since march 2020, which we remember because much of the united states went into lockdown in that quarter. it is when the pandemic first hit these shores, but what is interesting is it touched all corners of the world of technology and equity markets. you look at the philadelphia semiconductor index, down 13% in the quarter, worse performer than the nasdaq 100, but it is this index i really want to focus. look at this chart. there is a split. not all tech stocks are created equally, right? you have the mega caps like apple, amazon, microsoft. you also have the u.s.-listed shares of chinese tech companies, but what is interesting is amazon and apple have performed quite well. they are actually down year to date so far but had been performing in positive territory. you look at

ed ludlow here to break it down. ed: yeah, that's a lot. happy friday. stocks did bounce into positive territory. information technology was the worst performing sector. you see the nasdaq 100 managing to end just shy of up .2%. it was all about jobs, adding 500,000, unemployment fell by more than expected, and a robust labor market, all signals is the fed will be tightening aggressively, but yields rise in stocks followed suit. bitcoin above $46,000. momentum. nasdaq 100, we were talking about the worst or first down quarter since march 2020 when the pandemic hid. the other way of looking at the nasdaq 100 is that we have been up on the index for the last three weeks, so there is a change in psychology around technology shares. quick movers. tesla. watch this over the weekend. we expect delivery figures for the first quarter. consensus estimates are at 309,185-ish, which would be a new record. amazon was up .4%, despite the new york union vote, which could be a negative headline. emily: thanks. workers have voted to join the union, a historic victory fo

ed ludlow is at the site. >> this is the first all private mission to the international space station the past, russia has taken a private citizens but they have been assigned with officials. this is the first real commercial trip to iss, but they will be doing some scientific experiments while they are there for eight days. as we confirmed, three of the crew paid $55 million per seat to go up. one of the members may be recognizable to our audience because he was a more nasa astronaut. now he is the executive at axiom which brokered this deal. he is experienced, the other three are high net worth individuals seeking a thrill. kailey: how reaching is a launch like this one? >> this is the fifth human mission they have done, they have done orbits around the earth with inspiration. this falcon 9 booster has flown two human missions in the past. it cap so endeavor, this is their third trip to the iss. with any launch, there is a risk with the propellant, kerosene, and the complexity of what they are trying to achieve. guy: it is rocket science, and in the past things have gone wrong. we w