Bloomberg Tech Salesforce, Figma Decline After Earnings
Sep 5, 2025
Antonio Neri, President and CEO of HPE, weighs in on the tech industry's challenges, including disappointing earnings from Salesforce and Figma. Mark Gurman, Bloomberg’s Apple correspondent, shares insights on Apple's upcoming AI-powered web search tool for Siri, aiming to compete with OpenAI. The conversation also touches on the implications of AI advancements on cybersecurity and energy decisions, while highlighting HPE's strong performance and strategic partnerships with Nvidia.
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AI Not Yet Fueling Software Revenue
- Salesforce's sell-off reflects investor disappointment that AI hasn't yet driven top-line growth despite management optimism.
- AI hype hasn't translated into discretionary IT spending recovery across large software firms.
Mitigate Tech Concentration Risk
- Diversify portfolios to manage concentration risk in big-cap tech and AI winners like Nvidia and Broadcom.
- Barbelling across industries, geographies, and fixed income helps ride pullbacks and reduce valuation risk.
Apple Builds An AI Answer Engine
- Apple plans an AI web search integrated into Siri to compete with OpenAI-style answer engines and reduce reliance on Google search.
- Apple is evaluating external models, with signs pointing to Google’s Gemini as a likely partner.