Bloomberg Tech The Nasdaq’s Worst Quarter, Rivian Spins off “Micromobility” Startup
Apr 1, 2025
The Nasdaq 100 experiences its worst quarter in years, raising alarm about an AI bubble. Former FCC Chairman Tom Wheeler discusses the implications of Trump-era tariffs on tech profits. Rivian's CEO announces a spinoff focused on electric vehicles for short trips, tapping into the micromobility trend. The podcast also investigates Tesla's challenges in a competitive EV market, particularly in China, and the evolving role of tech in European security dynamics.
AI Snips
Chapters
Transcript
Episode notes
Nasdaq's Worst Quarter and AI Uncertainty
- The Nasdaq 100 had its worst quarter in nearly three years, with the "magnificent seven" tech stocks selling off over 20%.
- AI's narrative is messy, with Alibaba investing heavily despite bubble concerns, while Microsoft reportedly walks away from new projects.
CHIPS Act Grants as Leverage
- Commerce Secretary Gina Raimondo may withhold CHIPS Act grants to encourage companies to expand U.S. semiconductor projects further.
- She aims to secure more investment without increasing federal grants, leveraging disbursements as leverage.
Tesla's European Slump and Global Competition
- Tesla sales are declining in Europe and facing pressure from increased EV competition, particularly from BYD in China.
- A Model Y changeover is impacting production, but other factors like competition and political stances also play a role.