you'll shares in qualcomm. if it could go through regulators, would it be a good deal from your perspective? >> if anything, the interest would be on the design side, on-chip designs for pc's. that is a huge market. intel and amd are players there. it is likely to remain the dominant form of technology, so i could see qualcomm be interested but i would think regulators would have a hard time because it would suggest qualcomm would be ready to throw away its approach to pc chips and that would reduce competition. for intel, if ev -- if qualcomm were to buy the design side, it would give intel the time he needs to fix manufacturing and potentially for intel to get into the foundry business, which it would like to do. caroline: that is why the relationship already lies with apollo that they have with a deal in ireland. what do you think about a capital infusion and what form you would like that to take? >> $5 billion would help. it is going to take patients of investors. $5 billion when you look at the cost is a d

qualcomm is important as it launches the service.he latest series is the 81 core processor for pcs. they are trying to expand the market with the lower-price point chip. it will clash with the likes of intel and amd. i had a chance to speak up with the ceo of qualcomm and ask why now is the time to jump into the pc space. let's listen in. >> it was the logical thing for us to do and with our partnership with microsoft. if you look at what we did, it was a number of things coming together. first, i think our company has been on a diversification journey. every time you and i talk, we provide updates of industries and automotive and now pcs. we are on a journey to diversify and make sure our technologies now expand to other markets. the second data point, pcs are fundamentally changing because of the mobile and pcs. we use that in the separate devices and the technology is influencing what we see with the pcs. we expect to be connected and longer life and thin and light. it is coming at a time when windows is expanding to a.i. when you

qualcomm. we think those are going to be the ones that really start to see a lot of leadership the next six to 12 months. from a financial perspective, we love the money center banks, we love the asset managers and the broker dealers for the theme of scale but we also really really love the very small mid cap banks because of the relationships that they've built and the trust they built with their commercial customers and their private customers we think loan growth is going to be very positive. liz: okay so the smaller regionals. i'm looking today at big financials, and they are in the red, well mixed picture really but interesting to see particularly if you stretch out the regional bank index. let me just look at the kre. we had it up for one second. its actually done pretty darn well this quarter. quarter to date up 18%. brian it's good to see you okay he's calling for 6,100 folks. remember the name, brian belski of bmo. we will be watching it and we'll have you back before that for sure. th

breaking news, qualcomm approaching intel about a takeover in recent days. shares of intel spiking on the report before coming back down to earth. we'll have the latest straight ahead. >>> apple officially putting the iphone 16 on sale. pomp and circumstance but will sales match the hoopla. one analyst still bullish on a super cycle. constellation energy working to turn the power back on at three mile island. you heard that right. microsoft signing a deal to get its hands on all that power for the next 20 years. the details on the deal and flood of nukes coming up. i'm melissa lee on the desk tonight, courtney, dan, guy, and mike. we start off with that breaking news in the chip space reports in the last hour that qualcomm approached intel about a takeover in recent days. this as investors continue to doubt intel's costly turnaround plans and ability to design and manufacture next generation chips. if a deal were to get done it would be one of the largest tech mergers ever. for more on all of this bring in bernstein's stacy rasgon. >> good to be here. >> cou

qualcomm has been speaking with u.s. regulators and believes in all-american company could allay any antitrust concerns. jonathan: thank you. up next. 43 days and counting. >> this election will be close. we have always known that. that is what happens in these elections. in a state like michigan or wisconsin we know this will be a close race. jonathan: david gura just around the corner. live from new york city, good morning. ♪ think scaling your ai pilots is hard? think again. with watsonx, you can deploy ai across any environment. above the clouds and on lots of clouds. with your secured data on prem, in real time on center court and assisting bank tellers on the edge. watsonx helps you deploy ai wherever you need it. so you can take your business wherever it needs to go. ibm. let's create. ♪♪ sandals jamaica sale is now on, visit sandals.com or call 1-800-sandals jonathan: equities just a little bit firmer, up .1%. kicking off this monday morning of all-time highs in the s&p 500. mike wilson writing the jobs data will

>> let's talk about intel and qualcomm.f course, on friday, late friday, "the journal" reporting an approach from qualcomm to intel, got a lot of people excited, as you might imagine, of course, if a deal were to actually occur, it would be a monumental one to say the least, and i can confirm, as so many other news organizations have, i think, since that first report, that an approach was made. what does that mean? any number of viewers who have watched for years know that doesn't much mean anything depending on the level of difficulty of actually getting to the finish line and, of course, level of difficulty here would be quite significant. that said, it doesn't mean that it's not newsworthy, in part, because, of course, qualcomm at least has interest in exploring that. it's very much unclear whether there's been much going on since that approach was made. beyond early is the way one person who is, at least, familiar with the situation put it to me, and as is often the case in situations like this, the chance that you woul

right now, with qualcomm, you can buy a windows pc with qualcomm silicon on it today and much in theway apple doesn't use intel silicon anymore. that is the concern with the intel path forward. what happens if something happens to their core market over the next three years while they're doing this? arm has said they seek to get 50% of the pc market over the next three years. i don't think that's likely. i think that's a pretty aggressive goal. if it were to happen, it just makes it all the more difficult for intel to execute on their strategy. i think that's what investors are thinking right now. >> all right. chris, thanks. i like the logo. no one thought of the wolfe of wall street? different companies. >> dwiifferent companies. >> that was not a great company, i don't think. you were there before that happened, i guess, right? >> i've been at wolfe about a year. i don't think there was any wolfe of wall street. >> okay. all right. different company. thanks. see you later. >>> all right. when we come back, third time's a charm. johnson & johnson's talc unit attempting to settle th

qualcomm not so much. you lump those together as if they're the same thing. >> that's why you want to trade down to the next level of tech. i think oracle has been one of our main tech positions for all of '23 and '24, we've been adding because of the cash. and then qualcomm could be that barbell with not only valuation but performance. qualcomm should be one you should be adding in terms of diversifying your portfolio. >> we just showed the charts of the quarter to date, and they tell two very different stories. one, oracle, has been able to capitalize on the ai craze, and the other one, qualcomm, has been going in the opposite direction. >> oracle, big software name. qualcomm had some of the noise with respect to the potential intel thing, which i think was more sideways. if you take a look at the semiconductor stock with earnings and cash flow, that's your qualcomm. you want to buy stocks when they're doing, not only going up. and we think that qualcomm can be that barbell to nvidia's continued strength

. >> quick break qualcomm making a bid for intel, potentially game changing takeover you are watchingmaria" live on "fox business" stay with us. . ♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. maria: intel a takeover target "fox business" kelly o'grady with details. >> good morning looks like a lot of interest in intel so qualcomm reportedly approached company about a possible friendly takeover, and a cash over 5 billion dollars chipmaker on downward spiral stock dropped over 54% company announce to do lay off over 15,000 employees ceo on mystic can turn it around the. >> now apollo report indicates confidence in chipmaker ability to right ship but nothing is final if qualcomm were to buy it would face a number of challenges, price a big one as of friday intel market count roughly 93 billion qualcomm stood 188 billion biggest tech deal microsoft buying activision, so 69 billion deal would face antitrust

qualcommot only has a market cap right now that is about roughly twice where intel's is, it's also a big u.s. chip industry player. qualcomm does not do chip manufacturing. intel's manufacturing business is the big spot where it's having the difficulty and where it's pouring billions of dollars in. then the u.s. government through the chips act has begun supporting that. they haven't delivered the money yet, but they have promised it. qualcomm and intel do compete in pc chips, but intel is a lot bigger in that space. intel has a lot of business in data center. it's losing share there, but it's there. qualcomm doesn't. there's minimal overlap, but a lot of this would depend on how regulators define the market. these are both domestic companies. they are champions in their own ways. and intel in pcs and data center having trouble with that business and the manufacturing business. both are focused on ai being the future. but doing that from slightly different perspectives. qualcomm more on mobile

qualcomm is a surprise. katie: it is interesting like you said, intel needs cash.t how badly do they need cash? if we don't see qualcomm or apollo or someone else step up, but would that potentially mean for this company -- what would that potentially mean for this company? ed: the design side of chips is 70% of their revenue. they have scaled back where the losses are but they still have to grow it, you need scale and their aim is to win third-party customers. they have to be selective and where they build new factories, how they handle capacity for clients and i think these two stories are competing against another -- one another to answer how they move forward in that respect. katie: great stuff. i know you've been all over this. that does it for bloomberg markets. this is bloomberg. ♪ where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management o

qualcomm has had success to arm-based processors. i noted your colleagues had interesting research overnight that let's say that intel gets even deeper into distress and start looking at options. how is arm going to finance such a thing? mandeep: look at arm's valuation, almost 50% above the intel market cap. when you do this, intel has a lot more businesses that they could divest, but in the case of arm, their stock is currently at currently the best premium within the semi space. it could be stock. i imagine it will be a buyout. some of the portion of intel's business -- clearly, we are talking about a smaller pie within intel that arm is interested in. in the case of qualcomm, they were interested, based on the rumors, and the bulk of intel's business. it is a different transaction if you are looking at arm versus qualcomm. caroline: all of this thus far has been people familiar with the qualcomm, as you call it rumor we call it reporting. i am interested more in how arm benefits in any scenario or not as the case may be. what if

if they were to inquire qualcomm they would face a number of challenges price being a big one.as of 11:00 a.m. today it could have changed intel's market cap was 94 billion qualcomm stood at 186 billion, that would be the biggest tech deal ever by far and the deal would face antitrust issues, more concerning is what this even make strategic sense, intel certainly makes a cash lifeline and they need to diversify but investors don't seem to be excited about the idea of the potential deal, the stock is down over 2% today, qualcomm doesn't mean factory townships intel desperately needs help making that part of the business profitable, qualcomm can add any value in helping intel figure that out, we've reached out to both chipmakers it apollo and shared no comment, good turn of events for intel even if these discussions were really. david: it was a get of the two debugging of a chips act that was was to be great news for companies like intel and of course is bingo we got ever since the act passed, washington once again failed to do industrial policy very well. thank you for that, con

i'm intrigued by the qualcomm think.t -- i heard stacy raskin, who i think is great, was saying this might not be so great for qualcomm. >> for qualcomm. >> if i were the u.s. government, i really would be pushing for that deal. >> wouldn't you be tapping somebody on the shoulder, saying, hey, why don't you buy some assets? >> yes, i think so. we know it's very difficult anti-trust environment. i don't think that would be the case here. so, i don't know. maybe it bounces, i'm not really sure, but i do think it's intriguing, that qualcomm thing would be an elegant exit. >>> there's a lot more "fast money" to come. here's what's coming up next. >>> two iconic companies, two negative calls on wall street. why analysts say these names aren't stepping on the gas. and how they expect those stocks to perform. >>> plus, shop til you drop. it seems the luxury consumer has done just that. how retail buyers seem to be all shopped out. and where a slowdown is impacting the space. you're watching "fast money," live from the nasdaq ma

welcome. >> we've seen not just qualcomm headlines and now possibly a private equity involvement withel. i don't want to say the vultures are circling because that would be unkind, but the bids are circling. let's say that. >> yeah. i think you're going to continue to hear or see headlines just in the coming days and weeks. you've already seen them in the past about options intel may have either with strategic partners, splitting businesses and spinning off businesses and they're taking up everything out there to improve their current business situation and their options going forward, but again, a lot of that, i think, is just noise and doesn't make a lot of sense and that's kind of what i was saying this morning as it relates to qualcomm buying the entire company. i don't see that as likely or a good strategic fit. >> i wonder if this is going to be about taking over intel broadly at all or it's effectively two companies and they make their own chips and the foundry that wants to make chips for other people. which one of those businesses do you think bidders are most interested in o

ed: reiterate as well that neither intel nor qualcomm commented on that report.he other piece was that apollo, which has an existing relationship with intel and strategic in the sense they coinvest it in a specific project. why isn't intel attractive to a name like apollo? it's a duration bet. it's infrastructure. in the world of ai it is building something physical and waiting for the payoff later. phil: this is long-term generational investment. funds like apollo take an extremely long-term view beyond the more short-term nature of the public market. when we look at m&a and the trends we have seen in the last year, activity is up quite meaningfully after two low years. we are seeing strategic much more active. we advised on ibm. not as transformational necessarily as intel but we are seeing strategics be more proactive as it relates to growth vertical adjacencies. private equity is on dislocated public market valuations. but we have not seen so far is the huge number of private companies with high watermark valuations in 2021 starting to come to market. time re

reports sacy qualcomm has floatd a takeover and apollo global is offering billions.he latest. >>> and it is government funding week. house speaker mike johnson presented a funding bill to avert a shutdown. it's monday, september 23th, 2024 and "squawk box" begins right now. ♪ >>> good morning, everybody. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. let's take a look at the u.s. equity futures at this hour. right now, a little bit of a mixed picture. s&p indicated up by 5 points. the nasdaq indicated up a bit more. this comes as stocks closed higher last week. the s&p was up by

why is qualcomm| strategic split up. that's how i we see it. why is qualcomm so interesting?ood in the water. _ interesting? because they see blood in the water. they i blood in the water. they recognise this as an opportunity to go after intel or pieces. they are in a position of strength. intel is on a massive position of weakness in the huge growth area, so they are the ones with the power strategically everybody realises they are in a weaker position and they need to do something.— a weaker position and they need to do something. always good to net our to do something. always good to get your take _ to do something. always good to get your take on _ to do something. always good to get your take on things. - to do something. always good to get your take on things. see i get your take on things. see you again soon. climate change poses a huge threat to humanity, and while it cannot be stopped experts say reaching net zero carbon emissions by 2050 would enable the worst consequences of climate change to be avoided. climate week nyc kicked off on sunday, in coordination with

management reportedly eyeing a $500 billion investment in the chipmaker while on the other side qualcommooks for a friendly takeover. >>> and a key short-term trade a rate and announcing a press conference. this fuels speculation for more stimulus ahead. >>> we have been following on from the data we have seen early this morning. french pmi numbers and germany pmi numbers as well. both of those disappointing the market and, of course, seeing the euro fall significantly. that two-year low that we've seen. there we are. $110.98. half a percent lower and more weakness and what it means for the ecb and economic prospects for france as well as germany as well. we have looked at the numbers this morning. the pmi numbers from the eur eurozone. back in contractary territory with the composite figure. looking at the september flash is 48.9 from the 51 is what we saw previously. let's look at manufacturing pmi. the flash number at 44.8 versus the previous august figure which was 45.8 there. even deeper in contractionary territory as we see the september manufacturing data then as well for the euro

the development comes with qualcomm set to be floating a finely -- friendly takeover of intel.ces say qualcomm has been speaking with regulators and believes an all-american accommodation could affect concerns. >> morgan stanley is reportedly facing a regulatory review over an order for sk hynix shares. careers -- korea's financial advisory service is looking for that. shares of the chipmaker tumbled more than 11% last thursday after morgan stanley slashed its price target and cut its rating. we are heading back to jp morgan's investor summit. keep it here with us. this is bloomberg. ♪ >> from a global perspective -- in terms of the valuation -- outlook better. we see this returning in the coming year. >> that was the head of india investment banking at jp morgan. indian stocks start trading in 15 minutes. a look at how futures are pointing. they have gone gangbusters. euphoria. a strong return. foreign funds, almost $9 billion this quarter. that's on policy continuity with modi in his third term. nitze futures up .5%. the rupee at a350 737. the biggest financial firms in india

now they're telling us that qualcomm is going to this and that.ey really sell it at? i don't know. i remain steadfastly negative about the stock of intel. >> right. the one other mover we got, at least on the research front, is smci, as jpmorgan goes to neutral. they were at $950, they go to $900. >> i love their research. but the fact is they start out by saying, we're not downgrading this because of the problems with -- with accounting. the hindenburg problem, so to speak, and i think they spent the rest of the piece talking about the hindenburg stock. i mean, honestly, guys, if you're going to say that you don't care about it, don't bring it up again. just talk about the datacenter and how super micro is against dell and hpe and the margin pressure, all fine. also could be related to blackwell, but don't bring up the accounting and say, listen, it's not really important, but we should focus on it. and look, i do agree with the downgrade, though. something's very wrong at super micro. they -- whenever you have accounting issues, you got to take

to other stories making headlines, us chip company qualcomm has reportedly approached rival intel aboutt reported by the wall streetjournal, which cited anonymous sources. intel is known for making products that power modern pcs, but it has been struggling to get a foothold in the artificial intelligence race. its shares have fallen by more than 50% this year. brazil's supreme court has asked x to prove it has appointed a new legal representative in the country. this comes after the elon musk—owned platform said it had addressed the key demand by the court. x was shut down in brazil last month after it did not comply with court orders on the moderation of hate speech. legal representatives for x have in recent days said they were keen to resume operations in brazil. turning to motor sport — the singapore leg of the formula one race wrapped up on sunday. i had the chance to catch up exclusively with the team principal and ceo of oracle red bull racing christian horner while he was in singapore. we had a wide—ranging conversation about the tough year he's had with key personnel changes, t

there are growing rumours that the tech giant qualcomm has approached the chipmaker intel with a takeover sells computer components and related products for business and consumer markets. and related products for business and consumer rr some. corruption in the country. some of his rallies have spoken about big infrastructure projects that have come in from india and china that could have been the reason why the country went to the economic crisis and he has said he would look at some of those. he is a foreign policy and how he manoeuvres the bilateral partners, india and china, on this regard would also be tricky to watch.- also be tricky to watch. thank ou ve also be tricky to watch. thank you very much- _ also be tricky to watch. thank you very much. thank- also be tricky to watch. thank you very much. thank you - also be tricky to watch. thank you very much. thank you for| you very much. thank you for talking us through what is going on through sri lanka. there are growing rumours that the tech giant qualcomm has approached the chipmaker intel with a takeover bid. intel designs, manuf

that development coming with qualcomm said to be floating a friendly takeover of intel in what coulde of the biggest ever m&a deals. sources say qualcomm has been speaking with regulators and believes an all-american combination could allay any antitrust concerns. we are told they have not ruled out buying or selling parts of intel if that combination comes to pass. tsmc and samsung discussed building new factories in the uae to satisfy soaring demand for ai computing. the wall street journal cites sources saying executives have visited them recently to discuss new operations and the middle eastern nation is aiming to become a regional hub and testing ground for ai. elon musk's social media platform has backed down and agreed to comply with court orders in brazil. they have appointed a legal representative as required and have blocked accounts accused of spreading hate speech and fake news ending a clash that resulted in a million dollar fine and a ban on the platform. later today, in focus in the u.k., euro area pmi out of the euro zone. we will be focused on the labour party confer

caroline: so, you are offering the platform with qualcomm.fering more smart health features. feels that way. if you don't think that apple can deliver what was promised, does that mean more court action? where does your fight, we stand with apple and their smartwatch? joe: we have enjoined apple from selling spo2 in the u.s.. there is a trade secret case that will be heard. if we win that, we will have a broader injunction against them so that they cannot even do pulse rate and arrhythmia detection. if we win our patent case, which is about how you do this with very low battery consumption, that will be a lighter injunction. potentially, the injunction could go worldwide and broader. but even more that i'd like to tell you about is this partnership with google that we are excited about. every android user now can have a real scientifically based continuous, accurate wearable with this design that we are creating for them. i think that in the next couple of years you will see a slew of products, from luxury products to smart watches, from your

qualcomm shares are higher. micron achieved fiscal revenue in 2024 and expects to grow significantly from here into the next fiscal year as well. the company saying this will be driven by strong growth for a.i. service. we heard last earnings season from the big tech firms that cap ex is degrgrowing, too. a.i. demand, frank, is staying put and continuing to grow. >> arjun kharpal live from london. thank you. the surge in global chip stokck is part of the story with china. beijing officials say they are not done with the stimulus. we hhave eunice yoon with more. eunice, good morning. >> reporter: hey, frank, president xi jinping and other leaders reaffirmed their government's efforts to stimulate the economy and reach the around 5% growth target by the end of the year. in a readout, they vowed quote sufficient fiscal spending and halting of property market declines. authorizes are considering $142 billion capital injection of state banks funded via the special sovereign bonds. separate to that, the government ann

moving on to our next oric, the us chip company qualcomm has approached a rival intel about a takeovereported by the world through journal which had an anonymous sourcing, intel is making products at the power modern pcs but it has been struggling to get a foothold in the artificial intelligence race, it shows a follow by more than 50% this year. brazil's supreme court has asked x to prove it has appointed a new legal representative in the country. this comes after elon musk owned platform said it had addressed the key demand by the court. it was shut down in brazil last month after it did not comply with court orders on the moderation of hate speech. legal robbers and it four x have in recent days said they are keen to resume operation in brazil. australia's combustion regulator has sued two of the country's largest formica trains for misleading shoppers, coles and woolworths allegedly increase the prices of hundreds of products for a brief period before lowering them to make it appear like the companies were offering discounts. but the products are actually sold for regular or inflat

they were widespread reports last week of an approach by the tech giant qualcomm and reports over themberg of a multibillion—dollar investment approach from apollo global management. intel has so far declined to comment. around since the 1960s, intel is one of the worlds biggest chip—makers, but it's been going through a rocky period with its share price falling by nearly 60% this year alone. chief expert malcolm penn explained some of the pressures intel faces. this really is a riches to rags saga — this really is a riches to rags saga it_ this really is a riches to rags saga. it started a few years ago — saga. it started a few years ago when intel lost their technological leadership and handed over that pattern to tsmc — handed over that pattern to tsmc and allow them to steam ahead — tsmc and allow them to steam ahead from the technology. if you lose — ahead from the technology. if you lose the technology race and give _ you lose the technology race and give up on that it it put you — and give up on that it it put you back_ and give up on that it it put you back on that setting. th

after qualcomm, there will be more vendors then it's really game on.ll kinds of price points, skews, which will be great for consumers. >> i also know there's a lawsuit and it's supposed to begin in december. where we? >> december. that's what we're moving towards. not much more i can say. >> now, fill me in on what the world would look like had nvidia been able to buy you? >> it was a really interesting time. >> people should know you have great relationship with nvidia. >> used to work there. a great company. >> did he ever come up to you and dismiss you? >> a lot of stories we can talk about but he's brilliant. i learned so much from jenson. the fascinating thing about the acquisition, at the time, arm was north of $2 billion. nvidia was a $25 billion company. not nearly as large as they are now. so on one level, you might say gosh, what's to see here. big company buys small company. the amount of opposition that took place around the world with regulators, the u.s., europe, the u.k., but more importantly, virtually every big partner in the world wa

here your thoughts if not qualcomm, what for intel?if you have to support those investments, don't see a deal getting done with cash that doesn't drive leverage to ub sustainable levels. what do you do with them? >> they are losing $12 billion a year. >> you scrap them and sell the tools for whatever they are worth. i don't think that's a politically viable situation. you'd have to scrap the entire road map. long story short, they have enough issues. why would they be the one to make the issues better. >> let's get your take oven whether a deal is plauzable to agree with stacey or not. and number two, the question of the fabs, isn't that what the chips act and the government says they want? >> i agree with stacey. this is not a probable deal. i think i said it in many ways. i don't see how this works. i do think there's a bit of darkest before dawn going on with intel. they had their darkest moemt. the rumors were somewhat -- they got a turned around last week when you got the aws win, the $3 billion from the dod. when they did make th

company on record and more than amd and qualcomm.e are checking the bond market and the key 2/10 year spread. it uninverted after the softer than expected jobs report. yields right now at 3.76 for the ten-year. we also want to look at the 30-year treasury ticking up a bit from last week above 4% at 4.06. this is the read on inflation expectations. we have two big reads on inflation coming up this week with cpi and ppi. we have oil coming off the worst week of the year. a bit higher this morning. remember, this is a bounce off of lows. wti, the u.s. benchmark up over 1%. below $70 a barrel. brent crude up 1%. still below $75 a barrel. that is a key sentiment level when it comes to brent. >>> that is the uc.s. setup. let's look at asia with jp ong and silvia amaro in london. jp, good morning. >> good morning, frank. happy monday. not a happy monday for asian markets which mostly closed in the red. you can blame the weak handoff after wall street and the losses last friday creep into sentiment here. there are a couple of other things th

if qualcomm gets to inquire intel to be the largest in history but they scrutiny from regulators in theand abroad. intel was one of the most so my connector company, scan better the 56% year to date. interesting story around intel. >> if you are not nimble, i don't care what industry you are in but if you are not nimble to keep up with trends and themes as they change and come in and out of favor eventually you will become obsolete. unfortunately for intel that is the path that they're headed down if you look at the challenges that they're facing right now and when you look at all the challenges, they are talking about $10 billion of cost that they have to cut it at the same point time when every other chipmaker out there is trying to figure out how to make sure customers are not unhappy because demand is so high in they need to figure out how to get the chips in their hand, unfortunately for intel they decided to dig their heels in and completely missed the a.i. opportunity. maria: would you buy semiconductors now that were hearing a chatter of potential deals. >> i do like semiconduct

nvidia, broadcom, advanced microand qualcomm up 5 to 7% at this stage. even vanek is down 6.5%.puter chips a big focus right now, kelly. back over to you. >> i thought it was interesting because meta was up 10% last month, so they're all selling off today. dom, thank you very much. >>> sticking with chips, let's get a closer look at the disaster of intel, which is sliding another 7% as the company launches its newest ai chip in berlin. the company is exploring strategic options with bankers. we're talking about a 60% drop in the shares since january. down nearly 70% since pat gelsinger became ceo. let's bring in sema with a closer look. >> reporter: intel revealing its newest pc chip, present thing product was the excel senior executive who said his company has overhauled the architecture, the design, the construction. intel says the newest product is faster than its previous generation by 30% and faster than competitors that had competing products. the microsoft executive joined intel on stage sharing that co-pilot plus that will feature the newest processor. intel's newest pc

qualcomm broke. this is preceded i think the last six, seven weeks with some signs. >> you think tech seeded con control in the market? that's done? that's over? best days are behind it for now at least. what -- is that broaden ofing o the market zshg? does that continue sore there trouble overall? >> i think on the other side of tech, the strength is defensive today. it is not a one-day phenomenon. utilities are strengthening all year. staples finally waking up. we'll talk about health care later in the show. that is strengthening here also. what do all these have in common? i think it's bond yields and the macro. guy, you hit it right on the head. what hasn't changed? the macro. yields are where they were. august, dollar-yen is where it was in early august. the macronever rallied w-- rall never rallied. >> what is it trying to tell you? >> i think we entered the realm and karen eluded to this i believe, bad news is bad news y is that? you already have baked in 100 or so basis point of fed rate cuts

let's go to the qualcomm. they're partnering with google and samsung on what?dly, a mixed reality smart glasses, virtual reality that links to your phone, and that's a apparently the important part. so instead of controlling it with, like, hand gestures, you just control it with your phone. and instead of it being clunky and uncomfortable and heavy to wear, it would be like wearing sunglasses. stuart: it's not the goggles. lauren: doesn't seem like it. it would run artificial intelligence both on device and on the phone, not in the cloud. stuart: okay. alpha a bet's up and qualcomm is down. verizon says it will buy frontier communications. so what? what's the deal about? lauren: broadband. verizon's fiber network is largely in the northeast and the mid-atlantic. frontier is in half the country, 2.2 million subscribers. verizon wants to offer broadband, tv, wireless. so that's why they want frontier. a lot of this was already baked into the stock. i would argue that's why frontier is down right now. the deal is worth $20 the billion. stuart: i would buy verizon

qualcomm has not made a formal offer offer that is for intel.ntel is facing its own challenges, with a $1.6 billion loss earlier this year. intel recently announced it plans to lay off over 15% of its employees and will pause several projects. the securities and exchange commission is trying to impose sanctions against elon musk if he does not appear at a new court date. musk did not appear for testimony last week in an investigation related to his takeover of x, formerly known as twitter. the sec is looking into whether he followed the law when disclosing his purchase of x stock. lawyers for musk say court intervention is not necessary because a new testimony date has already been agreed upon and set. still, to come this morning. speaking of, x no longer marks the spot. the company moved its headquarters out of san francisco's mid-market neighborhood. what we're now looking into in terms of how it will make a better bay area in this part of the city. but first, the race for the white house ramps up as both presidential candidates visit crit is

there were widespread reports last week of an approach by the tech giant qualcomm.kend from bloomberg mentioned a multi—billion dollar investment approach from apollo global management. intel has so far declined to comment. since the 1960s intel has been one of the worlds biggest chip—makers but it's been going through a rocky period with the share price falling by nearly 60% this year alone. chip expert malcolm penn explained some of the pressures intel faces. it really is a riches to rags saga _ it really is a riches to rags saga really _ it really is a riches to rags saga really. it— it really is a riches to rags saga really. it started - it really is a riches to rags saga really. it started a l it really is a riches to rags i saga really. it started a few years — saga really. it started a few years ago _ saga really. it started a few years ago when _ saga really. it started a few years ago when intel- saga really. it started a few years ago when intel lost. saga really. it started a few. years ago when intel lost the technological— years ago when intel lost the

now, if qualcomm aacquires intel, this deal would be one of the largest tech agreements in history.s and abroad. intel was one of the world's most valuable semiconductor companies. the stock is down better than 56 are% year-to-date. this morning, intel shares, $22.49, up better than 3%. stay with us. we'll be right back. the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future. a future where you grew a dream into a reality. it's waiting for you. mere minutes away. the future is nothing but power and it's all yours. the all new godaddy airo. get your business online in minutes with the power of ai. maria: welcome back. we are just one week away from the september 30th government shoulddown deadline. house and senate leaders reached a bipartisan agreement to fund the government through december 20th. the continuing resolution includes $231 million for the u.s. secret service, with conditions that the agency cooperate with congressional investigations after two failed assassination attempts

qualcomm still down 2%. they have 30% revenue gathering from apple.t is not all bad, we do have the indexes lower, but one stock doing well, oracle up more than 50% on the year. today up 6.8%. up 6.8%. the analyst saying the sales growth is moving in the right direction. sonali: thank you so much. the big debate is all about whether the fed will cut rates by 25 or 50 basis points. hear what two prominent voices told bloomberg earlier today. >> the market has come to the view that 50 points is appropriate. it is important the fed get back to neutral expeditiously and 25 was not fast enough. >> i always say we will see what the market does. it may be that it does not make that much of a difference. there will be three cuts of 25. what matters is where we are at the end of the year. the total sum of the rate cuts may matter more than how they do it. sonali: for more, we are joined by anna wong. the last couple of days, the chorus about 50 basis points, the idea that 50 would not move the market, that 50 is what we need right now, that the fed could teleg

qualcomm has not made a formal offer for intel yet. reported negotiations come as intel is facing its own challenges, with a $1.6 billion loss earlier this year. intel recently announced its plans to lay off over 15% of its employees, and will pause several projects. the securities and exchange commission is trying to impose sanctions against elon musk if he does not appear at a new court date. musk did not appear for testimony last week in an investigation related to his takeover of x, formerly known as twitter. the sec is now looking into whether he followed the law when disclosing his purchase of twitter stock. lawyers for musk say court intervention is not necessary because a new testimony date has already been agreed upon and set. still to come on abc seven mornings x no longer marks the spot. speaking of the company moved its headquarters out of san francisco's mid-market neighborhood, and we're looking into what it will take to build a better bay area in this part of the city. but first, the race for the white house ramps up as

the qualcomm wants to get into a.i. pcs. they're eyeing intel's pc business. would do is leave intel as a stand-alone fab. don't forget about the fab and thetownly market which is the common denominator right now across all of these a.i. design companies. i would be a big fan of swell becoming a pure -- intel becoming a power play at the fab level for american defense purposes. charles: let's talk about meta, you've been tweeting about the llama project. 9 i had to look into it, and it's it's blowing my mind. lam a ma three used 16,000 gpus, this is going to use 10 times as much, and just the computing power going to be absolutely mind-boggling. how because this change the landscape in the sort of llm market? if. >> that is a great question, charles. i think people should be talking more about meta lama. it basically is a competitor against chatgpt. they open source their large language molds so that tens of thousands of developers can develop applications on that model, every variation of that model. her a chatgpt competitor, and whoever can get there first a

reuters says qualcomm is exploring acquiring intel's design business. fourth-quarter revenue forecast list. ai growth was unable to offset operations that grew more slowly than anticipated and aviation safety agency will require inspections of airbus engines after a midair fire on a cathay pacific flight, which forced the airline to ground planes and operators must check for damage inside engines. donald trump unveils plans including a tax cut and tapping elon musk to head up and efficiency task force. the details next, this is bloomberg. ♪ ♪ >> welcome back to bloomberg. donald trump pledges to cut corporate tax rates and audit the federal government as he pitched his agenda. he says he will prioritize the economy. trump: to support american manufacturing my plan calls for tax credits, 100% bonus depreciation, expensing and reduction in corporate tax, 15% for companies that make their product in america. ,: join now by kriti gupta. kriti gupta, this sounds like a full-blooded pitch to corporate america. there is a deep division now from kamala harris a

tom: microsoft, qualcomm, and to those others are your clients?ot work with those companies directly, but those of the companies taking the lead. tom: yesterday was all the rage, and then there was the political element that chipped away. you have money managers like black rock walking away or becoming cautious leading into the esg label, the politics of the u.s., all of the money flowing into ai. how damaging has that been? >> the questionnaire here is -- let's put it this way. what is the incentive for companies to take climate action? there is the carrot and the state, so policy. what is the risk, the reputational risk, and what is the story think until around real, tangible, sustainable impact, and that is starting to come together. we have cop this year which will talk about how private sector and countries can work together to employee on the ground. in the face of rising emissions linked to a i use what actions companies can take. we have seen such a surge of activity, because they know ai will be a big part of their business going forward.

a the has always been a strong x 86 competitor rendering with qualcomm, a lot of competitors coming on next six months. stuart: intel may be coming out of your dow 30? expect that? >> until will come out of the dow 30 because of a weakness in the data center, they used to own the cbo market. amd has eaten their lunch on cpus, then you have nvidia's strength. until needs to focus on one or two segments. we away from intel as a stock because they are in so many segments. stuart: the news is grim i intel but thanks for joining us. always appreciate you being here. thousands of pro-hamas protesters flooded the streets of new york city. students at columbia university on high alert as protesters returned to campus. brian kilmeade on all of that next. when the sawdust settles and the engine roars the thing you care about is a job well done. but when you get your tools from harbor freight something about the job feels different - your wallet. whatever you do, do it for less, at harbor freight. ♪ here's why you should switch fo to duckduckgo on all your devie duckduckgo comes with a built-n en

qualcomm losing 7% as well. these are some of the biggest names in the semiconductor business. check out the ticker smh. it fell 7.5% for its worst day since the start of the covid pandemic believe it or not back in massachusetts of 2020. let's talk more about this with james chuck ma. james, just how bad was the chip wreck? >> is. >> well, i would say basically going back to june, we've seen things associated with these chip companies. you have to get the cash from somewhere and semiconductors including us where you roll out into more valuated names makes a lot of sense and i think a lot of these names have continued to loft the elevations -- valuations when you have uncertainty on what the growth rate is going to be on a sustainable basis when you look into 2025. >> what kind of macro versus high crow story is there here for computer chips? we know it's been a big part of the chips story. what happens in a hypothetical scenario if there's a broader slowdown across the globe? >> the good news is the world is still going to move in one direction and that's toward ai, and as com

this as reuters is reporting that qualcomm is looking to purchase some of the business.o formal offer has been made. >>> and chicago fed president dp austan goolsbee is looking for cuts soon. goolsbee adds continued cooling in the labor market could turn into something worse. we will hear more from austan goolsbee at 11:30 a.m. eastern time. a must watch, frank. >> absolutely. very interesting. we'll have the jobs data before then. it will be interesting to see what he has to say. he has been a vocal member of the fed. >>> turning back to the big item this week. the august jobs report. it is expected to see 161,000. the unemployment rate is expected to tick down to 4.2%. this is the latest piece of the puzzle ahead of the fed meeting in just about two weeks as recent data continues to point to a softening of the economy as we countdown to the meeting. investors are questioning if it will be 25 or 50 basis points. for more, let's bring in douglas bonaparth. i think the question here is not whether it will be 25 or 50, because nobody knows, but the fed. does it matter if i

qualcomm would be another.ed about the fact that ai startups are meeting cloud computing space that really was the factor behind increase in revenue, gpu and graphic processors all these ai companies need and the cloud space. we will continue to benefit from this ai push. it is a place you could look to have some exposure if you don't want to add to the names like nvidia. david: are you going to do any post election reshuffling of portfolio or other people, very different economic policies from these candidates. david: you want to see if there is gridlock, is there is a sweep, it is a wait and see for now tonight. david: space x launched a paul harris don crew into orbit. we will have more on that right after a break. investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questio

arjun has been speaking to us, but he will be speaking to the ceo of qualcomm, cristiano amon p we'll be bringing you that exclusive tomorrow, so you won't want to miss that. the fuel you need to take flight. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul is your gateway back home. so what is cirkul? it's your water, your way. cirkul, available at walmart and drinkcirkul.com. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify. to duckduckgo on all your devie duckduckgo comes with a built-n engine, like google, but it's r and doesn't spy on your searchs and duckduckgo lets you browsel but it blocks cookies and creepy ads that follow youa and other companies. and th

qualcomm and texas instruments.tractors from the nasdaq etf. i want to highlight those. and broad come we have earnings out tomorrow afternoon. those shares are down, just below the 50 day average price and carl to give you an idea of the context, the options market right now is pricing in a plus or minus 6.5% move in broadcom shares. over the last eight quarters the mov has been plus or minus 5%. so a slightly more volatile report expected by traders. >> thanks, dom. >>> despite the selloff yesterday a number of names and sectors hit new highs. mike santoli is here to talk about that. >> defense, traditionally defined defensive areas. among the things going on, back in the growth scare. the sensitivity to any sign that the economy is slipping more than expected is paramount. look at the low volatility parts of the s&p 500, the blue line there, it's taken flight relative to high beta, the aggressive wherareas, semis par high beta. we have the a.i., the growth can scare at 21.5 times earning which is where the s&p re

weekend and wants to do a five billion-dollar equity like investment, this was also after reports that qualcommer of intel, this shows that intel might have some options but at $20 a share, the ceo of intel has a lot of headwinds ahead of him, how much could investments or potential takeovers help turn the ship around. stuart: we have the iphone succeeded went on sale last week, do we have anything about the sales. >> t-mobile saying they're doing a lot better than the iphone 15 this time last year and saying any talk about week sales is nonsense, he says the pro in the max for $101,200 are selling like crazy. stuart: the market does not seem to believe that down to 27, taiwan semi in taxes samsung to build huge giant chip factories. >> the mega factories, they are in the uae, why, the middle east, the uae well-funded venture capital fund wants to fund all of it, i think this is a good location diversify or away from taiwan of china's move in the next five or ten years to take over taiwan you need these chip companies to have headquarters in other regions as well this could be a smart move. stu