and we should look at softbank.of that and then arm has gone public. you know, who knows what's in graphcore's future? i can't make any statements of that. but we're just at the beginning of that journey. so i think that softbank has proven to be a really good partner, actually. what does wind power have to do with the world's biggest plane? well a company based in the us state of colorado is trying to build the world's biggest plane so that it can move giant turbines to build more wind farms. the bbc�*s ben thompson has been speaking to the boss of radia he asked him why it was necessary to build such a big plane. so what radia is doing is enabling onshore turbines to be “p enabling onshore turbines to be up to the size of offshore turbines. so there's a great opportunity, because the industry knows how to make very, very large turbines that are the size of the eiffel tower with blades that are a football field long. but the challenge is — you simply can't distribute those to where the market is ten times bigger on

semiconductor company that softbank has snapped up.urse, softbank took over arm in 2016, the chip designer whose technology is found in almost all of the world's smartphones. that company listed in the u.s. more broadly, retail investors withdrew 1.8 billion pounds from u.k. equity funds in may. the worst month on record. the figures from the investment association and to the dismal trend for british funds, which have seen eight years of continuous retail outflows totaling 54 billion pounds. coming up, president macron's efforts to defuse france political crisis highlighting deep divisions and weighing on economic uncertainty. we get the latest from paris. that is next. this is bloomberg. ♪ >> i'm very confident for next week, so we are collecting our support among the other political families. we are the winner of these elections, we gain seats, we won again these elections and we nominated before the elections our commission president. so it's all a very democratic approach how we do things. we show in transparency what is our conten

able to keep up with that requires a massive amount of investment and that's what this ship with softbankive this next generation of ai technology and that's why joining together is a really good opportunity here and we should look at softbank, they did a good job of working with us and helping them with being private and then they have gone public. who knows what is in graft course future, i can't make any statements but we are in the beginning of the journey so i think softbank is proving to be a really good partner. that was nigel there. we will stay with taken the ceo of the mind, groundbreaking ai research company, they have long been an advocate for the transformative potential of artificial intelligence. he spoke to my bbc colleague about the opportunities he saw for the opportunities he saw for the new uk government from al. how is al going to affect the uk in the next five or even ten years? this was the central question asked at the tony blair institute for global changes future of britain conference in london this week. tony blair himself, the former prime minister, many clear

it will operate as a softbank subsidiary and will keep its management team.ere not disclosed. samsung is facing more walkouts, this time at one of their most advanced ai memory chip plants. several hundred workers joined the protests as the campaign for higher wages continues. union leaders have said they are targeting smaller, but important complexes in the hopes of an up pressure. caroline? caroline: fascinating. stay global with a russian story now. waging a war under the sea? the question has been emerging after a worrying pattern of missing underwater cables. >> in 2021, an unexplained incident occurred off the coast of norway. an important undersea data cable had been damaged and no one could explain why. >> something was obviously seriously wrong. nothing worked anymore. no instruments, no sensors. where the cable was supposed to be, there was no cable. you just see mayhem. >> at the bottom of the world's oceans lie the central network of data cables. they stretch hundreds of thousands of miles around the world. >> information flow, communications, ban

shares of softbank rising to an all-time high. rally has been indicating a confidence this year. softbank also getting a lift, it's expected to boost the firm's earnings. coming up we look at apple, a position that will deepen the relationship between the maker and that of openai. from new york, this is bloomberg technology. ♪ want to save on some of the biggest names in streaming on the network made for streaming? x marks the spot. now you can add the new xfinity streamsaver™ that includes netflix, peacock, and apple tv+. that's xfinity streamsaver™ for just $15 a month. all your favorites. all in one place. only from xfinity. for more watching and less spending... x marks the spot. do it all on the network made for streaming, and bring on the good stuff. >> welcome back to "bloomberg technology." quick check on markets, because a lot of political anxiety here in the united states, but more broadly, we're focused on the macro data. we've got slowing surfaces data, and indeed, a little bit of cooling going on in the labor market.

softbank bank of japan, which is one of the main sponsors of robocop, designed this robot and one of the sections. dedicating to the organization and implementation of this robot, which basically wants to simulate a series of in-house services, for example, well , before i entered this project, our friends in the banking sector had used this robot. pepper humanoid robot is supposed to serve in various areas of banking and research. today, the discussion of artificial intelligence in the collection. industrial economic services and in fact financial sectors have become very important and have a special place. the set of activities that we can have in this matter. any type of social activity, any type of service based on artificial intelligence can be organized and made available to the public, what has been achieved so far is a set of banking services , activities that a user can provide in the branch without doing in fact, any kind of human service is work what we have achieved so far is available and there is another set of activities that will continue. right now , the respected me

softbank of japan designed this robot and dedicated one of the departments to hold and implement the same robot that they originally wanted. for example, the humanoid robot pepper is supposed to simulate a series of in-house services in various banking and research fields. any type of social activity, any type of service based on artificial intelligence can be organized and made available to the public, for example, you enter the bank , this robot can be a guide, for example , help for elderly people. please guide them so that they can know what is where inside the bank or provide them with a series of services, even the robot itself . pepper is going to compete with other robots along with the robotics team of khatam university in the international robotics competition that will be held in the netherlands at the end of july. dear beloved of the farmers of kandur city in khorasan province, razavi mawafaq. water wells in this area and prevent damage to production. this power plant has a power of 3 megawatts and was built with the investment of farmers. personally, we had 30 garden plo

let's start with softbank. those shares hitting a new record high for the first time in 24 years.e giant has been given a boost by the public market success of arm, which softbank owns a majority of. the founder has said the firm has shifted from defense to offense because of investment opportunities around a.i. >>> private equity firm carlyle group is reportedly in exclusive talks to buy baxter's kidney care spinoff, according to the "wall street journal," which says the deal would be valued at more than $4 billion. scott? >> pippa, i appreciate it. thank you. pippa stevens. >>> still ahead, the big banks falling in today's session. we'll find out what is behind that sector's drop and what to look out for when those names althne wk.nings later xtee l at's coming up. we'll be right back. ♪ i wanna hold you forever ♪ hey little bear bear. ♪ ♪ ♪ i'm gonna love you forever ♪ ♪ ♪ c'mon, bear. ♪ ♪ ♪ you don't...you don't have to worry... ♪ ♪ be by your side... i'll be there... ♪ ♪ with my arms wrapped around... ♪ the future is not just going to happen. you have to make it. and if you w

the other stock on top of byd which showed record sales is softbank, a big boost.t clocked past the record closing high and hit a session high of 10,000, no doubt a win or yoshi -- four yoshisan, helping the topix as well. highest level since 1990. moving toward the 17 level suggests momentum for japanese at these to the upside. as i mentioned there are concerns of the chinese economy along with the greenback doing decline in the offshore yen. dollar-yen approaching 730 against the backdrop of the implied volatility for one month suggesting traders do not see this strengthening. the pboc came through with a fix above 713, which suggests carry trade can carry on and we are seeing weakness of japanese currencies. tom: averill, thank you very much indeed. very fascinating indeed. now to the macro indeed, inflation getting back on a downward path but officials need more evidence. jay powell speaking in portugal. jay powell: we want to be more confident that inflation is moving down before we start the process of -- of reducing our policy, loosening policy. because the

it was a similar story with the japanese story with softbank one of the biggest losers in tokyo.arolin talked about nissan with the plunge in profits. nissan reporting lower. toyota reporting parts shortages. they were also a big loser. if they did have enough bad news, actually, that strengthening yen weighed on exportss and carmakers in japan. the pboc cutting the midterm loan facility. it was mixed with shenzhen in the green. sentiment was bad across asia pacific today, frank. we will see if it improves on the friday trade opening tomorrow. back to you guys and good morning to you in new york. >> jp ong, thank you. let's get more on the stocks after the selloff. the s&p is more than 4%. the nasdaq is 7% from its most recent high. joining me now is peter bookvar and philip covar at mrb partners. great to you have here. peter, i want your take on the action we saw yesterday. do you believe this is a realization of the concentration risk that so many people were worried about or reaction to the earnings we saw? >> i think it's both. we can add on a few more things. it was a few w

we saw chip related stocks like tokyo electric, the parent company of arm and softbank lead being theaggards. there are questions as to whether or not japanese authorities intervened with how stark the pressures was for the yen. we have to wait for data to confirm intervention. on the bright spot, china will release more stimulus after the third plenum was wrapped up. we have to watch out for hong kong stech stocks. the index pulled down the index on this thursday morning. frank, back to you. >> thank you. let's talk about the divergence in the market over the last week and the selloff in the market. we have bill stone with the glenview trust company. >> good morning. >> big part of the nasdaq selloff is chip stocks. they sold off on restrictions from the biden administration and comments from form you are preside former president trump. i want to ask you the smh is down 2.5% since the start of the third quarter. >> well, they had a heavy of a run. you are always concerned when things sell off. i call this the silly season for a reason because you see tons of policies thrown out with

years ago, in 2020, 2021, when we saw the tiger globals and the softbanks come in with billion of dollars, they had to convince founders to take their money, in generative ai, the space is so hot, you need to offer gpu access in off to get in on terms she's. there may be a bubble billing. >> deirdre, thank you very much, deirdre bosa. >>> turning more to a group we've been working here closely on "power lunch," anjelica has the details. >> "wall street journal" just not reporting that the ftc is preparing to sue the three largest farm we managers over insulin prices. they companies manage prescription benefits, and the finding was published yesterday into the investigation. "wall street journal" citing a person familiar with the matter saying the suits will be in regarding to rebates with these pharmaceutical manufacturers. the rebates are discounts essentially that the pbms negotiate with drug makers. the ftc saying yesterday these pbms steer people towards drugs that might be more expensive and pbms drive up costs. the companies in question deny the allegations, but we're going to stay

. >>> in other corporate stories, softbank acquired chip maker graphcore for an undisclosed sum as theyinto a.i. graphcore was arrival to nvidia, but has struggled to secure the investment to compete. >>> and the billionaire kkr are in talks to break up the media empire axel springer according to the financial times. the deal would separate the media assets from the digital classified operation. >>> still in the media space, vivendi is considering a streaming service in what will be a boost to the uk stagnating ipo market according to bloomberg which no final decision has been made. conglomerate is looking at a four-way split pending final agreement from the board. >>> and ck infrastructure is considering a listing overseas. the secondary listing could provide a bigger market for tra trading. the m&a market has been revived this year with the pent-up deals according to our next guest. i'm pleased to say nigel well at clifford chance is joining us with more. good morning. first and foremost, i would like to understand what has driven this interest in the first half of this year and wheth

softbank purchasing ai startup graft corps. scale has been an issue for this startup.or any company trying to rival nvidia. right now speaking of the price target raises, we've seen ten. next month the broader supplies. asml and full earnings from taiwan semi. those two names out next week. big week ahead, scott. >> seema, thank you so much. mike, two minutes to go here. we're going to fight it out for 40k on the table to the close. >> yeah, right. i think we closed above it. we sort of went above it in may. i'm not sure we actually held it into the close. yeah, i mean, obviously we'll see if this is anything more than just a little bit of an exhausted buyers' market at this point. right now i think one of the things i'm seeing and the confusing signal is it just doesn't feel like the beginning of something. when we talk about, you know, now we have a clear path to see the fed's first rate cut. now we're getting greater confidence that the soft landing equation is in place, sure, maybe that's an excuse to go rescue some of those stocks that have been left behind, but o

on the street today with analysts overwhelmingly bullish on the health care tech firm backed by softbankter the break, we'll reveal the name and ask the biggest bull on the street why he sees the stock rallying 60%. plus, this name is coming off 11 straight months of gains. shares have more than doubled. it was morgan stanley's top tick in the entertainment space. >>> and before we go to break, take a quick look at shares of oracle, slumping 4% now on a report that the information that elon musk and axi and oracle have ended talks to expand their current server deal. xai buying chips to build a data center of its own. "the exchange" is back after this. >> this is "the exchange" on cnbc. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. want to save on some of the biggest names in streaming on formu the network made forzers streaming? x marks the spot. now you can add the new xfinity streamsaver™ that includes netflix, peacock, and apple tv+. that's xfinity streamsaver™ for just $15 a mon

yes i alibaba. 100% private only and if i was owned by lot of the foreign investors softbank has a verybig stake in alibaba and and and so you know that what the model was trying to map out was the relationship between you know farms and in the regulators and as as between farms and also the the top leaders like me you see farm actually are not passive players. i mean businesses they they do a lot of things underneath the table i mean, like here, you know, you have a lot of formal lobbying channels. but in china they have to rely on informal lobbying channels through information intermediaries, political intermediaries to try and achieve their policy objectives. so i do give the quite a lot of discussion in the and then in trying to unravel the state business relationship in china. but there definitely interests are intertwined with a lot political elites and in that's a way they can see political protections in the chinese system. and last question about antitrust enforcement. the private i mean, the case i backed on jd dot com to in 2015 already brought the case against alibaba for th