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the question is whether we will. >> on that point then, jon, when gelsinger says to you, quote, this is when intel gets good, what does that mean to you >> i think it means we're going to start seeing the putting and if the proof is in the pudding they've got the wafers but now they have to show they can produce chips based on these way offers in volume customers have to say, boy, these a.i. results from gaudi 3 we really like then it's a price performance argument nvidia might have the performance lead, and they're charging a lot for it, that's why the stock went way up. but then the likes of amazon, i talk to andy jassy, he said we have a.i. chips that are homegrown and we believe the value of those is going to be. might not perform on par with nvidia and horsepower always, but we think price, you know, for the money, what we can deliver is good. intel is going to try to make a similar argument, but they have to be able to deliver the chips in volume and they have to work. we'll see sooner than some investors might think. >> jon, thank you. jon fortt. >>> after the break, we'll tra

haidi: that was the intel ceo pat gelsinger there speaking was -- with ed ludlow.ments worth of $2.2 billion over three years in portfolio of generative ai services signing partnerships with google cloud and microsoft and training staff to integrate ai in their operations. the global ip -- id and consulting giant will provide generative services for started, customer experience, software engineering, and enterprise. medical records of over 600,000 people in the u.s. medicare program may have been exposed after a data breach. the information was on symptoms -- systems belonging to maximus federal services using the file transfer service movers. authorities are contacting the affected patients intending to offer free credit monitoring and services on how they can replace compromise parts. let's look at the set up of this brand-new trading week coming off what was a milestone week for risk assets. certainly investors are positioning for more volatility that could be said to come. -- set to come. global central banks shifting to more dated dependent giving way to great

gelsinger admitting more work to do and the company has ambitions and ambitious road map to catch upthose firms by 2025. begun to ramp up production of the intel 4 chip using latest technology takes billions of investment to catch up and the whole road map is there key will be execution, frank. >> yes a lot to watch there great reporting as always. great to see you intel shares up 7% thank you. >>> a check on some of this morning's top corporate stories. bertha coombs is here this morning. good morning >> hey, good morning, frank. meta is reportedly planning on taking new steps to try and keep threads users on the new app according to reuters, ceo mark zuckerberg tells employees that the company is heavily focused and boosting retention on the new social media platform after losing more than half of its users weeks after its launch zuckerberg said he considered the drop-off normal and expected retention to grow as meta adds more features to threads might need to change it up so it's more like twitter if they really want to compete meantime, american airlines pilots union says its str

it's known as alpha gelsinger officials say it's passed to humans to tick bites specifically the loneople with the allergy. they didn't have to avoid red meat like beef, pork lamb as well as dairy. also includes other products like makeup officials say alpha gelsinger might be 10 most common food allergy in the country possibly affecting up to 450,000 people. the cdc says it's also one of the least recognized. for your money mask, a car cracking down on cannabis purchases made on debit cards. see most banks. they do not offer services to cannabis companies because marijuana is illegal at the federal level efforts to pass it give cannabis makers more access to banking services so far failed marijuana is legal for medical use. 38 people moving out of california are actually costing the state hundreds of millions of dollars. well, a study conducted by my list in dot com. now that california lost more than 340 million dollars tax revenue due to residents moving in 2021, new york and illinois where the other states with the biggest tax revenue decline, florida experience, the biggest incre

analyst call ceo pat gelsinger, seeing weakness in all segments of its business through the year-end server chip sales won't recover until the fourth quarter the finance chief saying part of this reason, progress the company made towards slashingses 3 billion in costs this year pc sales were down, but not down like they were in previous -- one quarter after the pandemic, which stimulated pc sales. down like 30%, pc sales. this time down like 15% or something. in an interview with jon fortt, intel ceo pat gelsinger laid out his vision for ai in that boom. >> we see the ai, it's not a particular architecture, particular chip. ai is a workload if you think about the highest-end training, jon, talking about tens of mega watts that run for months. then you say, hey, going to infuse ai into the pc. that's going to be tens of watts and needs to be within seconds then you're going to have ai that fits in your hearing aid that's going to be tens of microwatts, right? needs to be instantaneous. ai become as workload across every one of these applications, and will be a driver of new use cases.

the stock popped on these great expectations that gelsinger was going to return this company, to david'snt, to prosperity and we're still waiting. >> these things take a while >> it takes a while. it's going to take a long time to build the fabs alone that they plan to build in the united states, in part with help from the chips act. >> the r&d aspect. >> finding the workers is not easy either. tsmc, which is trying to do that in arizona, will tell you as well it's just not that easy. >> yeah. well, we've got a ton of other earnings to hit with names like roku, mondelez, and sweetgreen on the move, taking a look at futures at this hour in the green you can see there, dow is indicated to open about 170 points higher this morning more "squawk on the street" when we return. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventr

whether they've finally hit the bottom, on this right trajectory, given all of the changes that gelsingerwith cutting costs, focussing on the foundries in the united states, its separate foundry business. there's a lot of reasons intel could step up to the market. we may not see that just within this latest quarter. there's a lot riding on these chip names given the run-up where a lot of the run-up as to d nvidia and the ai trend, which does not equate all chips. we have to remember that not all chips make ai advance chips. >> bapgnks do different stuff not all chips are created equal. some have ridges, ruffles. others, sour cream and onion not created equal. you're trying not to smile it's impossible. >> i'm always smiling. i like the dad joke, the puns. i'm all for it >> i am a dad. >> okay. >> dad joke. i scared this kid right here there we go. hey, guys. let's get a good -- wave, everybody. here we go all right. a huge crowd i don't know if they could hear me heading into the close, the dow will make it 11 up sessions in a row. we are up 139 points nasdaq up 11 in a row. i'll see you

i'm going to praise pat gelsinger. i went over that quarter a couple times >> really?ait, what >> it was a great quarter. >> you have been -- >> i've been waiting >> you have been uniformly negative about intel for years, and of course, been right to have been negative on intel. >> thank you very much >> so, it's surprising to hear you positive why? >> well, because he talks about the other side jensen huang may not agree with this, ceo of nvidia. the other side of a.i. he's got the right chips to make it so all the ancillary parts of a.i., very important bottom call to pcs, leapfrog technology because they've done a lot of good things with engineering mobile eye turned out to be a plus for them. the ipo. new spirit when i read his email to me initially, i wasn't dismissive, but i says, that's great, pat. i took it home and read it friday and read it again last night, and the conference call, and it truly is -- i reached out to him immediately and said, look, i have to tell you, you've endured a lot, including from me, but i like the game plan i think the game plan is

we braked on the company earnings with the ceo, pat gelsinger.

second quarter profit issued a strong third quarter forecast coming up, we will hear from ceo pat gelsinger

conditions no official word from the companies, but in a statement to cnbc, intel says its ceo pat gelsingerrn home this week rn >>> up medicalnext, we're goingg into the result from the big banks and look ahead to more results come days and a reindeer as we head to break, you can always -- missing an m >> is that rudolph >> i think it meant reminder i out of just said reminder. i like it. if it says reindeer, i got to say it oh, boy. at morgan stanley, old school hard work meets bold, new thinking, ♪ to help you see untapped possibilities and relentlessly work with you to make them real. ♪ this is american infrastructure, a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends these services for everyone who lives here. ♪ >>> jpmorgan, wells fargo and citi all doing better than expected last week and b of a, dead money for quite a while. we're going to get some key regionals. we're joined by barclay's managing director and senior equity analyst jason goldberg. suddenly i got really interested in the whole subject by thinking about some of t

coming up later pat gelsinger in the 12:00 hour will be talking after interim results came out betterquarters of losses. we will be kicking off the market open with jonathan ferro on bloomberg television on radio bloomberg surveillance does continue as we move toward what we have with increasing data dependence, strategic ambiguity, the trifecta of central bank. ers. this is bloomberg. ♪ sleepovers just aren't what they used to be. a house full of screens? basically no hiccups? you guys have no idea how good you've got it. how old are you? like, 80? back in my day, it was scary stories and flashlights. we don't get scared. oh, really? mom can see your search history. that's what i thought. introducing the next generation 10g network. only from xfinity. (jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement mak