Bloomberg Daybreak: Europe Edition Big Tech’s Giant AI Bets, Gold Surges Above $5,500, Starmer Meets China’s Xi
Jan 29, 2026
Vlad Savov, technology editor who analyzes major tech earnings and semiconductor trends. He breaks down why hyperscalers are pouring money into AI and how chipmakers are benefiting. He also contrasts market reactions to big AI bets and explains the surge in memory and hardware demand.
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Massive AI Spending Runs Ahead Of Proof
- Big tech firms are dramatically front-loading AI spending, with Meta alone planning up to $135 billion this year.
- Firms claim early productivity gains but investors worry whether such massive capital will yield sustained returns.
Circular Funding Fuels Bubble Risk
- Analysts warn of a possible AI investment bubble driven partly by circular funding between giants and startups.
- Talks of a $60 billion funding round for OpenAI highlight feedback loops that could inflate valuations.
Commodities Rally On Dovish Fed Bets
- Gold surged past $5,500 an ounce on weaker dollar and liquidity shortages, fueling a nine-day rally.
- Expectations of a dovish Fed shift and talk of potential Powell replacement intensified commodity gains.