with caroline hyde and ed ludlow. ed: i am ed ludlow in san francisco caroline hyde is off today this is "bloomberg technology." . coming up full coverage of the second-biggest bank collapse in u.s. history will discuss the outlook of funding. another big week for tech earnings today, amd, qualcomm, apple all reporting. we have a preview of what is to come. they file confidentially for an ipo in the u.s. of the reagan. more -- over the reagan. >> in technology, mastec 100 up to tens of percent, relative the s&p 500 we are treading water -- mastec 100 up to tens of a percent, we are treading water on the s&p 500. stocks up mishap a percentage point in yields are climbing come the u.s. 10 year up by 12 basis points. there is some corporate issuance out there, met i going to the bond market, since the -- meta going to the bond market. we will bring you the details later in the show. there is one story we are talking about. jp morgan stepping. into acquire. first republic taking on portions of the loan book and deposit bas

ed: i'm ed ludlow in san francisco, this is brick technology -- "bloomberg technology". caroline: disney takes a hit as that battle for streaming dominance rages on. ed: and teaming up with google cloud to maximize ai usage. caroline: microsoft is freezing salaries as they look to navigate economic uncertainty. so much more this hour and the market is trying to navigate economic uncertainty. worries about the debt ceiling and ongoing concerns around u.s. banks and yet tech outperforms. shaking off the nerves and the rest of the market, up 15 points. there was economic data that the jobless claim showed worry in the jobs market, inflation pressure dialing back a little. the two year yield coming down. does this mean ever session our environment? -- a recessionary environment? pac west is when we are looking at. the dollar is going higher, crypto going lower. good point trading at 27,000 on the day. but go into the earnings. ed: there is a lot of news flow. peloton -- at one point it had a record low. alphabet, parent of google, 5%. trading at a high, the market liked what

ed: and i'm ed ludlow, this is "bloomberg technology". caroline: chip makers struggle with the industry downturn. ed: salesforce expanding with new tools, there copresident joins us from vegas. caroline: and raising $100 million for car inspections, we speak with the ceo that cio of rx. we are cautious. we see a pullback on the nasdaq, up 5.6%. worries about the debt ceiling coming front and center but what is happening in china, the worry about the import demand not being as strong as anticipated. is the local economy not returning to growth post-covid? : dragon up. up by .9%. your world of crypto, caution overall, we are up by about .5%. volatility in bitcoin, ahead on the debt ceiling, it is about crypto. taking a pause on crypto. ed: the earnings story from a paypal lowering the margins outlook. details later. lucid group softer by about 8%, an automaker trying to catch up with tesla but not making progress. pain for the chip sector seems to be in place through the end of the year. ian king is the guy you want to talk to. global foundr

ed:i'm ed ludlow in san francisco. this is bloomberg technology. caroline: coming up, nvidia hitting a trillion dollars. the ninth company to hit that valuation. we will bring you all things ai. ed: industry warning the technology poses the threat of extinction. google and others calling for caution. caroline: elon musk touches down in beijing. we will bring you the latest on his visit as he emphasizes the importance of ties with china. let's get a global look on these markets because the chinese economy is still a key concern for many. that's why we see the golden dragon off by more than 3%. the nasdaq is your outperformer. the technology sector, the rest of the world is still worrying about recession risks and inflation. we are seeing a big rally in the u.s. debt market. the 10 year, yields coming down nine or 10 basis points. debt relief yet to seal the deal, but something coming from across the aisle. we will see if we managed to push through default. that affected the crypto market. in terms of bitcoin, we managed to rally, the highest in a cou

thank you ed ludlow as well.ing up, president biden and congressional leaders are preparing for a high-stakes meeting on the debt ceiling deadlock. we will get insight from courtney rosenberger at strategic next. this is bloomberg. ♪ i will not negotiate whether or not we pay our debt >> come to the table and stop playing partisan political games. >> they said we will default unless we agree to these wacko notions they have. i'm happy to meet with mccarthy but not on whether or not the debt limit gets extended. >> mr. president, why don't we sit down and work through it? jon: this is bloomberg markets. of course, we will be watching the latest in the debt ceiling drama unfolding in d.c. president biden is said to meet with congressional leaders at 4:00 p.m. new york time in the oval office. let's get insight on what to watch for area the managing director of policy research at strategas joins us, what are your expectations? >> thank you for having me. it's important to keep expectations low for what comes out of

joining us is ed ludlow. apple is going into the market, issuing a lot of debt. nder is it pre-cpi, getting in before it is too late? ed: it is interesting timing, we have cpi and ppi on wednesday and thursday, 15 issuers in the market this monday. it indicates $5 billion and up to five parts, the longer duration part of the deal, 30 euro -- 30 year bond and 30 basis points over treasuries. in the context of apple, you look at the massive -- last august they sold 5.5 billion dollars of debt. share buybacks and dividends. if you think of the strategy going forward, the shareholder returns, strategy is in line with that. dani: what is it? is it that we are confident we will have cash flow? ed: they have a net cash neutral goal long-term. common expectation is that shareholder returns in whatever firm -- formed are going to exceed $100 billion this year. they authorize $90 billion of share buybacks with earnings last week, it was just thursday. i lose the sense of time and space. the point is borrow money because you can, not because you need to. apple is in this env

ed: i am ed ludlow in san francisco. caroline: nvidia trades in the red for the first time since its blowout earnings report. ed: we are talking a isc biden administration discusses how to regulate generated ai like chatgpt. caroline: so much more throughout the show including where public markets are currently trading. we are seeing a dismal field to the nasdaq today. we are dropping around 0.7%. nervousness that may be some economic data in the u.s. is too strong. jolts data, basically java earnings looking much stronger than people anticipated. the buying we see in two-year yield is dipping a bit, around every go in terms of the debt ceiling and whether we get some agreement. we will hear from -- we were steering from kailey leinz at the end of the previous program on that. yes, perhaps they are assigned to much on the positive side. in china and europe, the pmi manufacturing data looking weak. he selloff again in terms of u.s. assisted chinese stocks. i am looking at the world of crypto. the end the month of may down

ed ludlow is at google. this is bloomberg technology. coming up, full earning coverage ahead. we have airbnb off its worst day ever as a company, and any review on the report with details that follow. we will cover the world of electric vehicles from the conversation with the ceo of blinged charging. we've got you covered. and we cover the latest in artificial intelligence. the ceo of scale ai. we go live to google. ed ludlow is on the ground, but let's check in with the markets as we assess a mood shift. money is moving into tech stocks because the inflationary pressure is dialing down. coming in below the 5% number, we have nasdaq interest rate sensitive. tech stocks on the up. two-year yield on the down as we expected. maybe they will not have to hike so hard going forward. a pause on the agenda. we are off by eight basis points be at the front end of the curve for the dollar index also dropping on the view we get a more dovish tone. moving on, let's have a look at the world of crypto. we are seeing dollars lower, so crypto is on the upside. that is for coin at 28,000 where

ed: and i am ed had low -- ed ludlow in san francisco. caroline: disruption hits hiring, business models, and more. we will discuss it with steve wozniak. ed: we will sit down with the ceo of uber as it posts strong earnings. caroline: the ceo of sophia amid the banking system term i'll -- banking system turmoil as it partners with expedia to create a rewards program. let's dig in on these markets because we are nervous. we are focusing on the federal reserve, what does that mean for the macro? what does it mean for the banking system? we are up by 1.5% on the nasdaq with the kbw bank index is falling, 4.81%. the ripple and repurcussions coming from first republic still being digested as we worry about the strength of the financial system. the two new yield spiraling -- the 10 year yield is spiraling -- 10 year yield is spiraling down. we are not searching for safety, we are looking for risk assets in bitcoin. maybe this is also linked to the banking turmoil, the worry about the solidity of your normal financial system. up more than 3%. we

ed: and i'm ed ludlow. this is bloomberg technology. caroline: coming up, the race to regulate artificial intelligence is underway in washington as the open a ico lays out the benefits and risks to senators. ed: the ceo of the hippocratic ai joins us in studio to discuss the regenerative ai -- generative ai tech. caroline: and a tech talent recruiting service recruited called lasky. once again, we are seeing big tech on top, lackluster trading day coming muted as we wary about the debt ceiling in the argument abound between left and right, seeing nasdaq 100 up .5%. big tech seen as some sort of haven. we will talk about the individual names there but next, i show the world is more down pat on the markets. bank of america, showing how much risky version there is from traders at the moment. we see down .3%, people not wanting to add to the stock market now. 10 year yield up six basis points. even as we see in the individual retail data coming out and showing you and i willing to spend this inflationary data it seems some of the federal res

ed: i'm ed ludlow in san francisco caroline:. this is bloomberg technology. we've got the latest on the banking system in the state of funding, from fiat ventures and coast anova ed: ventures. coinbase weighing the united arab emirates fo its hub. we talked to brian armstrong on what's caroline: driving that decision. and the latest on meta--- the company may end news content on facebook and instagram in canada. as we dwell on that story around a publicly traded company, let's go broadly across the indices. some caution in today's trading. today, we pull back a little bit , basically flat on the day, coming off of our lows. seeing some treasure on the bond market, not more focused on the fed but focused on supply, on corporate bonds being sold and a whole have to them. we are up by five basis points as we see supply pressure in the two year yield creeping up to 3.96%. even though we see this cautious trading, volatility is low. that's happening in the world of crypto -- we've seen volatility there. we are going to dig in two stories around binance and abilitie

ed: i'm ed ludlow in san francisco, this is brick technology -- "bloomberg technology". caroline: disney takes a hit as that battle for streaming dominance rages on. ed:

with caroline hyde and ed ludlow. ludlow in san francisco caroline hyde is off today this is "bloomberg technology." . coming up full coverage of the second-biggest bank collapse in u.s. history will discuss the outlook of fundi

coming up, bloomberg technology with ed ludlow. the s&p is up 1.5%. aroline hyde. ed: i'm ed ludlow. caroline: coming up we have. we digest apple. we also got doordash, analysis. ed: following another strong payrolls report reit's discuss the state

ed: and i am ed ludlow. caroline: we look at the results from qualcomm. ed: we dive deep into the world of ai intelligence. we speak about safety with ashton kutcher. caroline: we will bring you the latest details on alibaba. i am looking at the nasdaq under pressure and nurse across the board. we are worried about the banking crisis that continues to unfold. kbw bank index trading at its lowest since 2020. the fed hikes, the ecb hikes, we are worried about the course of global investing. vix is up above a 20 handle. are we still going to see a benefit in crypto because it is aside from the traditional world of finance? we are at the 28,000 level but the fact that we're up above 1%. ed: the downside movers on earnings, qualcomm is down 4.91% . we are going to go deep on these earnings later in the show. etsy gave a good forecast but investors are not buying it. it's the regional banks story playing out. you look at pac west, western alliance, two catalysts driving those stocks. pack west denied a report, western alliance people are talking to investors try

ed: and i'm ed ludlow. this is bloomberg technology. regulate artificial intelligence is underway in washington as the open a ico lays out the benefits and risks to senators. ed: the ceo

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of where innovation, money and our collide, this is "bloomberg technology" with caroline hyde and ed ludlowg headquarters in new york. ed: i am ed ludlow in san francisco. caroline: nvidia trades in the

power collide, from silicon valley and beyond, this is "bloomberg technology" with caroline hyde and ed ludlowimbed caroline hyde and bloomberg's world headquarters. ed: and i am ed had low -- ed ludlow in san francisco. caroline: disruption hits hiring, business models, and more. we

where innovation, money, and power collide, this is "bloomberg technology" with caroline hyde and ed ludlows world headquarters in new york. ed: i am ed ludlow in san francisco. this is "bloomberg technology." caroline: we count you down to the fed rate decision and a look at the fintech

alex: i'm in for ed ludlow in san francisco. this is bloomberg technology.ation in u.s.-china tensions as china bands computer chips. alex: plus a record fine for medic, ordered to pay

joining us is "bloomberg technology" cohost ed ludlow. cation today. the google conference. i assume there is a lot of talk of how google is going to compete in ai. ed: it is everything here and the expectation is google will give us a more conversational, powerful version of surge. they released the generative ai tool, like chat gpt, but they have always billed it as a companion to google search rather than a replacement. we want to know how to integrate the development of their large language models into the core search product. this is framed by investors and ai enthusiasts, as make or break. it is google's to lose, having led the way in many years. alix: how much pressure are they under to flex their muscles? ed: we discussed on the start up when barda first came out, 48 hours after release, and accuracy was noticed. that had an impact on the stock during the days session. have always led in research, development of large language models. they lost an advantage to microsoft, to microsoft who moved quickly to integrate technology. both

power collide, and silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlowi'm caroline hyde a bloomberg's world headquarters ed: in york. ed:i'm ed ludlow in san francisco. this is bloomberg technology. caroline: coming up, nvidia tt

, power collide in silicon valley and beyond this is bloomberg technology with caroline hyde and ed ludlow . >> i am scarlet fu in for caroline hyde at bloomberg world headquarters in york. >> i am alex in for ed ludlow in symphysis go this is "bloomberg technology." >> the blowout forecasted sparks an ai rally, we will break down results and how to trade the ai rally. >> as a catastrophic default looms we will be to one veteran who joined ceo's in writing a letter to congress on a concern on the matter. >> we will discuss why it is acquiring desktop metal with its ceo, all that more coming up. we want to get you a check on the markets on midday on this thursday. s&p 500 moving higher by .5%, all things to technology. look at the philadelphia semiconductor index higher by almost 6% think to nvidia better than expected sales forecast. it is not as if all chipmakers are rising, we have weakness in intel and analog devices as well, there is a lot of angst over the debt ceiling how little progress there seems to be as we get closer to june 1, the yield on the two-year ring up on seven basis po

ed: and i am ed ludlow. caroline: we look at the results from qualcomm. lligence.

alex: i'm in for ed ludlow in san francisco. this is bloomberg technology.carlet: coming up, and escalation in u.s.-china tensions as china bands computer chips. alex: plus a record fine for medic, ordered to pay 1.3 billion dollars the eu after regulators say it failed to protect personal information. we will break that decision down. scarlet: forward is stepping up the electrically loud output after reaching a series of deals to buy lithium from projects in canada to chile and we will hear from the ceo later this hour. alex: first we want to give you a check on markets and where things stand at midday in new york. it's very much a wait and see game when it comes of the broader equity market on the debt ceiling negotiations and what the federal reserve decided to do with interest rates. the debt relief is back on the table in washington, d.c. and techksontinue to be the outperformer. chipmakers are under pressure and we will get to that later. the nasdaq 100 is at a 13 month high with financial stocks up by 1/3 of 1% with jpmorgan chase pulling its investor

i am missing ed ludlow. can we turn his voice into a bot i could be chatting with?ohn mayer on the recent partnerships that propel fans to interact with their favorite influences. watching shares right now, doubling down right now. they have been saying they want to dominate the ai market over, particularly in the world of defense. from new york, this is bloomberg. ♪ what if we live to 100. i don't want to outlive our money. i keep eating all these chia seeds. i could live to be 100. we work with empower, even if we do live to 100 we don't have to worry. eh, not worried. take control of your financial future to empower what's next. caroline: forever voices ai. you have been reading about it the last few days. there best known for for favor -- forever companions service. to allow users to interact with them using artificial intelligence. just announced a new partnership with the twitch star. joining us for more on the experience, how it has continued to snowball is john mayer, ceo of forever voices ai. karen marjorie was the one that caught my attention. she has 18,0

ed ludlow, what did you make of this? ed: it's not a new conversation.t he is saying is that there is tangible examples, like election interference, particularly text generative work image generative, they create content. that can be used in platforms that can be used, for example, in election interference. in his panel, he said everyone is pretty anxious about this idea that ai will displace jobs. he basically made the point, "i am not to worried about that. if i were you, i would start worrying about what ai does if it falls into the hands of bad or unscrupulous actors." as we know in our coverage of this field, it can be anywhere from ransomware attackers to state level right actors. -- threat actors. guy: he has a decent sized security business. ed: that's a good point. it's only in the last week of march that microsoft announced how it was integrating gpt 4 into its existing business. it is a $20 billion a year business. they have a microsoft security copilot. the benefits of ai are that you can do data analysis much more quickly. you can digest lar

ed: i am ed ludlow in san francisco. this is "bloomberg technology." caroline: we count you down to the fed rate decision and a look at the fintech helping to speed up deposit flight. ed: deep into the world of venture capital. caroline: how mao well operators are cashing in on the ai hype to target your businesses. chat gpt and cybersecurity with the meta head of security. it feels as if there is caution. will we hike 25 basis points? what does this mean for the solidity of the banking sector in the united states? the nasdaq is up higher. two-year yields show still that level of anxiety, costs coming down by two to three basis points across the curve. i'm looking at the worry of global growth. the u.s. services data being pulled back in terms of business activity at the moment. new york crude shining a light on what is happening in commodities. it is more of a risk asset at the moment, worried about the overall view on where our asset prices are going to go. remember, resilient yesterday as many sought safety amid this ongoing worry about a banking cri

we are now joined by the ceo, as well as a bloomberg "technology" host ed ludlow. you kick things off? ed: congratulations on the deal. this is what you were teasing on the earnings call a few weeks ago, but give me some numbers. what is the dollar value of this relationship to you with porsche? >> first, hello, ed. nice to be here. this is the account we were referring to back in our earnings call. i cannot specifically say the numbers of this deal, but we did say that if we look at driving assist to the end of the decade, it is north of $17 billion. supervision is north of $3.5 billion. within that $3.5 billion, you have the porsche deal. ed: in the release, you talk about the roadmap, the plan for porsche to actually take the underlying technology and integrate it into its production vehicles. when does that happen? when will we see their vehicles on global roads with supervision integrated? amnon: it is quite soon. normally, when you get a design, it is between two to three years for you have the start of production. we are talking about the same timeframe, but

running us is ed ludlow. good to see you. elon musk is thinking about advertising for tesla. i don't know if that means if you are driving down the 101 in california, you are heading to montauk on the weekend, long island, you're going to see billboards everywhere -- traditionally they have not advertised on normal channels. they have not had the need. it has been by word-of-mouth. tesla owners taking their experience to others. but there was an admission from elon musk that if they spend on advertising they could reach an audience they have not tapped. guy: is this admission that the competition is serious? ed: that is the question. tesla maintains the demand outpaces their ability to supply. the example we discussed on bloomberg radio is afforded and the f-150 lightning. there is evidence that people who buy those cubs have always done so. there is brand loyalty. now ford has an electric version. if tesla were to advertise, would they reach a customer base in the u.s. in particular that is brand loyalty to names that are not tesla? remember the super bowl example. tesla neve

where money and power collide in silicon valley, this is bloomberg technology with caroline hyde and ed ludlowyde at bloomberg world headquarters in new york. ed: i'm ed ludlow in san francisco caroline:. this is bloomberg technology. we've got the latest on the banking system in the state of funding, from

ed: i am at ludlow in san francisco. caroline: the eu gives microsoft be greenlight -- the green light for the takeover of activision blizzard. ed: we will talk twitter as one person prepares to take the helm. of the social media company. . caroline: we will sit down with the ceo of c3.ai. all that and so much more coming up and before we going to startups, let's go into caps. --big caps. but to get back to what is broadly in line, the nasdaq which is up half a percentage point in outperforming the rest of the industries. we are little bit -- a little bit cautious. we are worried about the debt ceiling and new york data that came in. and we are more cautious of our outlook but we are seeing big tech more tentative. the 10 year yield pushes higher as we hear from fed speakers. we will speak with -- he will sit down with mike mckee. he says he is pushing about -- back from the viewpoint that we will be cutting down rates. we have a down day for assets in turkey for the dollar strength versus the turkish lira. as dollar weak

, power collide in silicon valley and beyond this is bloomberg technology with caroline hyde and ed ludlowarters in york. >> i am alex in for ed ludlow in symphysis go this is "bloomberg technology." >> the blowout forecasted sparks an ai

ed: i am at ludlow in san francisco. ives microsoft be greenlight -- the green light for the takeover of activision blizzard. ed: we will talk twitter

this is bloomberg technologies with caroline hyde and ed ludlow. caroline: i met world headquarters in new york. this is bloomberg technology. coming up tiktok banded montana? the first u.s. state banning social media across all phones. in today's d.c. spotlight, we speak with an ai investor. and we bring you all the text box moving on earnings. a deep dive into alibaba with the spinoff or as clouds business. there is real risk on sentiment in the nasdaq. we are 134 points to the upside. maybe we are inching towards some rest by on the debt ceiling crisis. the two year yield is up .05 basis points. some fed speak speaking to bad today. bitcoin is off by .9%. every currency pair in fx is down. let's move on to individual movers. cisco is up 5.3%. they are seeing a 20% drop in business. alibaba is also off by 3.8 percent. they are not harnessing growth in the cloud area. we will dig into that later in the show. net flax -- netflix is up. they showed growth and went to upfronts where they pitch to advertiser of the content coming and people liked what

coming up, rick mcconnell will be joining bloomberg technology with ed ludlow at the top of the hour.m in san francisco. this is bloomberg technology. full coverage on artificial intelligence. we speak to someone who testified before lawmakers 24 hours ago on the risks of the technology as well as the ceo of character ai and dyna trace.

and power in silicon valley and beyond beyond, this s bloomberg technology with caroline hyde and ed ludlowscarlet fu, in for caroline hyde >> and i'm alex brink. this is bloomberg technology. >> this is quite an announcement. elon musk teases ron desantis is announcement. what do signals for the future of the platform. >> and sticking with social media, we will discuss the surgeon l

ed ludlow joins us now. only one story we are looking at and that's the new twitter potential ceo. ou surprised by the choice? ed: nmo, because on the short list of candidates they reported in recent weeks, it makes sense. yacarino had interviewed musk an event last month described him has a buddy and bought into his vision of what twitter should be during that exchange. she is an advertising executive with experience, two decades at turner and at nbc universal since 2011. as we have reported, the ongoing problem -- revenue has fallen about 50% since october as advertisers have been cautious about returning to the twitter platform. he has said the big names like apple have returned but the spend still is not there and whatever the status of twitter is, the advertisers still face the same macro headwinds they are experiencing in their deliberations around other platforms like meta or snap. guy: her business card will say ceo but will her job be ceo? ed: elon musk is talked about this multiple times. it's the idea that he is not a pencil pushing chief executive officer. he is a techno

alex: i'm in for ed ludlow in san francisco, this is bloomberg technology.ceo of tiktok as they sue montana following state decision to end the popular app, what steps are they taking to alleviate u.s. scrutiny?

joining us is technology cohost ed ludlow. we are looking at apple. ite surprising considering the qualcomm readthrough is pretty grim. ed: the iphone is center. they beat expectations on the iphone. year-over-year growth 1.5%. revenue declined year on year over the second quarter and if you listen to the guide the cfo gave, they are on track in the current year for a third consecutive year on year decline. emerging markets are at the heart of the story. india, they faced fx headwinds at the top line and bottom line, which they expect to dissipate on the bottom line going forward. but india, india, india, and were smartphone demand is just not there. guy: why is apple so difficult to call? is it because of that increasing dominance in the emerging markets within their numbers? everybody was expecting this to be a difficult quarter. apple, in some anyways, should not be volatile but it is. ed: remember in the december quarter how impactful supply chain snags were. the never that caught my eye was the inventory days being more than 12 days of inventory,

ed: i'm ed ludlow. caroline: coming up we have. we digest apple. we also got doordash, analysis. ed: following another strong payrolls report reit's discuss the state of the job market -- we discussed the state of the jobs market. caroline: we break down results from warner bros. as a report surprise profit in streaming. how will the writers strike impact results going forward? all of that as we analyze the broader context of the market today. when you look at tech stocks even with a strong jobs report and what it means in the federal reserve still probably trying to tame inflation where looking at 1.8% rise on the nasdaq. where seeing a bounce back in sentiment. kbw up. this is all about a bounce back in regional banks. maybe people find the dip today. the vix pulling down almost three points. we decided were going to go long into the weekend. it looks as if risk sentiment is rallying in crypto. a little bit of a push back. in the micro, is there risk on sentiment they? is it earnings? ed: there's a lot of dripping bond earnings. lips touching a record low on that stock. the outl

ed ludlow joining us there. you can catch ed as co-host of bloomberg technology.ng up in about an hour's time here on bloomberg television. taking a look at the market, equities going nowhere fast. we are seeing the s&p up by about 3/10 of 1%. bond still under pressure. the front end up by about ten, 11 basis points. the next hour, we're going to be speaking with monica dicenso, a j.p. morgan managing director and head of global investment opportunities. she will be joining us as we look ahead to the fed. we're also going to take a look at a lot of data coming out for the for that the is going to be watching tomorrow morning like a bank lending survey as well as inflation and manufacturing pmis we'll get the lowdown of that. this is bloomberg. your design is perfect and your clients know it. ghosted. why is it so hard to get paid if you're an independent business, get honey book and manage your client flow friction free from hey to pay at omaha steaks. we do burgers differently. we take a premium steak like this and turn it into a pure ground burger like this. so

past seven on the west coast and we cover the top tech stories from the bay area3 joining us now is ed ludlown is not quite up yet but let's talk about uber. why was this such a surprise? ed: the first piece of breaking news is that it's raining in san francisco which accounts for the pictures on your screen. uber is interesting because you go to the gross booking figure, 31.4 billion dollars, slightly below what the street was looking for but there was a clear drag from freight which the client and $15 billion of right bookings decline, indicates that riders are taking more frequent trips. it wasn't a perfect quarter by any means but you also have to look at the second quarter outlook and it seems as if they are on an upward trend. guy: this makes perfect sense in many ways. you are seeing the good side of the economy picking up. how sustainable is this? ed: are there signs of price fatigue and what is the outlook throughout the rest of the year? there are several sectors with -- like the chip sector that would say there is a recovery in the second half of this year so does that marry with t

ed ludlow is at google. this is bloomberg technology. coming up, full earning coverage ahead. we have airbnb off its worst day ever as a company, and any review on the report with details thol

and power in silicon valley and beyond beyond, this s bloomberg technology with caroline hyde and ed ludlow. >> i am scarlet fu, in for caroline hyde >> and i'm alex brink. this is bloomberg technology. >> this is quite an announcement. elon musk teases ron desantis is announcement. what do signals for the future of the platform. >> and sticking with social media, we will discuss the surgeon general warning that it could be harming children. more on the impact that platforms like tiktok and incident have on society. >> plus, a robotic start appraising $70 million to develop a human would robot. all of that and more. coming up. >> but first, a check on the markets. clearly, the focus is on the debt ceiling, and talks to resolve and suspend or raise the debt ceiling. we know that the president and speaker of the house are meeting at this moment after a press conference by the speaker. what you are looking at is a decline in equities, risk off scenarios. the nasdaq 100 is losing 9/10 of a percent, and the second day of losses at around 13 months of high. this is a global retreat. 300 losing th

joining us is ed ludlow. can we go to the peloton story? bikes sounds like a lot and a yucky issue. is it in reality a big deal? ed: it highlights the bigger picture problems for peloton, demand and cash burn. since they launched the first bike, and disclosure i am an owner of one at have to check if it is part of the recall, it is about 45% of the installed device mix. it is huge, the biggest individual device project. but the costs are immaterial. it points to the problems that peloton has not fully transitioned away from being a manufacturer of devices to the digital future that management wanted to pull it into. guy: can we talk about disney? is it as simple as streaming bad parts goo -- parks good? ed: that is the story because the parks are a bright spot. international tailwinds outside of the u.s. and in western europe. there are still economies that are slow to reopen from covid restrictions, or slower. so, you are seeing that feel-good. there is an interesting dynamic. they added ad-supported tier for disney. the subscriber count mi

alex: i'm in for ed ludlow in san francisco, this is bloomberg technology.oming up, we will hear from the ceo of tiktok as they sue montana following state decision to end the popular app, what steps are they taking to alleviate u.s. scrutiny? plus, we will set them of the cfo of zoom as the company faces growth hurdles when it comes to enterprise customers. scarlet: and we will speak to executives from amazon and adobe to discuss product launches, generative ai in the state of the consumer. all that and more coming up. first, let's check the financial markets. it's another day of modest moves in u.s. equities because it's groundhog day when it comes to the big themes, debt ceiling talks, no agreement yet even though we are about nine days away from the june 1 x date when washington runs out of cash. president biden and kevin mccarthy, the speaker of the house are scheduled to speak and meet daily. of course, there is a big question of whether we will get a recession or not. the data showed today that business activity grew the most in a year. that's pointin

joining us is ed ludlow.e about, nvidia becoming a one trillion dollar company all about ai. the ceo making an announcement, a slew of ai products over the weekend. he himself said, i know it's too much. why do so much at once? ed: jon ferro made an interesting point that you can get obsessed with round numbers. the first chipmaker to reach $1 trillion, only nine stocks have done that, and now it joins that exclusive club alongside apple, microsoft, alphabet. we added in hundreds of billions of market cap in a matter of weeks.the first catalyst was the 50% growth higher tha what the analystns estimates were driven by what is happening in ai and the need for nvidia's gpu. the right side of the chart, one trillion dollars market cap aided by the big jump in this morning's share action coming from taiwan in the last 48 hours, throwing the kitchen sink at it. compute power for a broad range of ai-related functionality. not just in terms of training large language models, but everything from advertising to gaming

joining us is ed ludlow. the action takes us to d.c. am altman is being sworn in right now. what are we going to learn today? ed: interesting that the action takes place in d.c. but it is a conversation that has been playing out in the bay area globally for a while. he is going to say that we do need establish guardrails, potential regulation from government. there is an interesting point technology of a certain level or scale, he says in his prepared remarks obtained by bloomberg, may be appropriate to be thinking about licensing or have registration requirements in order to put that technology into the public domain. when it comes to guardrails and regulation around ai, a lot of people are worried by that concept. they think it is and i competitive, particularly if you heavily regulate or parameters on the training of large language models. guy: there is two questions that comes to mind -- one is how do you do this internationally. clearly this is a global effort, global race. and is there -- is there an advantage in being the first mo