Bloomberg Tech

Tech stocks are under pressure as doubts grow about a Fed rate cut this December. In the AI realm, Thinking Machines, led by ex-OpenAI executive Mira Murati, eyes a hefty $50 billion valuation while Cursor raises $2.3 billion to enhance AI coding productivity. Discussions also dive into the fine line between a sustainable investment wave in AI and the risk of a bubble. Additionally, Google is testing innovative AI features to streamline online shopping, showing how tech is shaping consumer experiences.

In this conversation, Chuck Robbins, CEO of Cisco Systems, discusses the company’s impressive results and the strategic shift toward AI and security following a record quarter. Philippe Bateri from Accel talks about venture funding dynamics and the rise of AI-native applications, especially in Europe. Peter Elstrom provides insights into Tencent's deal with Apple, highlighting its impact on the tech industry. From market reactions to evolving tech strategies, the discussion is packed with insights on the future of AI and its role in investment.

Seth Figgerman, Bloomberg AI editor, delves into Anthropic's ambitious $50 billion data center plans, highlighting the industry's reliance on hyperscalers like FluidStack. Nicolas Janvier, from Columbia Threadneedle, explores macro drivers affecting tech stocks, discussing investor perspectives on AI-related capital expenditures. They also touch on market reactions to AI infrastructure investments, the implications of AMD's strong growth projections, and the importance of Fed policy in shaping tech valuations.

Michael Intrator, CEO of CoreWeave, shares insights on the company's earnings and a significant data center delay impacting operations. He discusses efforts to diversify supply chains and maintain partnerships, emphasizing reliability despite setbacks. Additionally, Carmen Reinecke, a Bloomberg equities reporter, analyzes market sentiment surrounding tech stocks and hyperscaler capex. The conversation delves into investor fears over AI valuations and the ongoing influence of NVIDIA in the tech landscape.

Nancy Hsu, VP of AI Product at Salesforce, reveals how AI is enhancing customer support during travel disruptions with innovative deployments. Matt Mahan, Mayor of San Jose, shares exciting developments in the city's AI infrastructure and new data center projects that promise to boost tech growth. Isaiah Taylor, CEO of Valor Atomics, discusses his firm's small modular reactors aimed at safe, cost-effective energy solutions, emphasizing rapid prototyping and regulatory innovation in the nuclear sector.

Jason Robbins, CEO of DraftKings, discusses the company's strategic partnership with Disney and its plans for prediction markets, emphasizing cautious growth. Alexandra Mertz, a long-time Tesla shareholder, shares insights from Tesla’s meeting about Musk's $1 trillion pay package and the implications of key-man risks. Gene Munster analyzes Tesla's ambitious production goals while addressing investor concerns over AI infrastructure spending. The conversation weaves through bold tech promises and market reactions, sparking lively debate.

Cristiano Amon, the CEO of Qualcomm, shares insights on the company's stellar earnings and its innovative strides in AI and data centers. He discusses the shift from smartphones to premium Android devices and the burgeoning automotive sector. Meanwhile, Drew Hambley of CalPERS explains the pension fund's rationale for opposing Elon Musk's hefty pay package, raising concerns about pay equity and control. Together, they offer a fascinating glimpse into tech trends and investor perspectives.

Joanne Feeney, a partner and portfolio manager at Advisors Capital Management, dives into the evolving dynamics of AI valuations and the latest trends in the chip sector. Judy Samuels, CEO of TechNYC, weighs in on the significant implications of the recent mayoral election for New York's tech industry, highlighting priorities such as housing and government modernization. Together, they explore how these developments set the stage for a transformative era in New York's tech landscape.

Peter Uy, CFO of Grab, shares insights on how the company is driving growth through affordable products and expanding its fintech services, including robotaxi partnerships. Christina Hooper, Chief Market Strategist at Man Group, highlights macroeconomic risks to the AI investment boom, including consumer weakness and potential market corrections. Their discussion underscores the challenges and opportunities in navigating AI valuations amid current market pressures and the evolving tech landscape.

In this engaging discussion, Tony Wong, a Portfolio Manager at T. Rowe Price, dives into Amazon's landmark $38 billion deal with OpenAI for Nvidia chips, highlighting the AI investment surge. He shares insights on which companies are set to thrive, like Nvidia, and the potential pitfalls for others such as Meta. Wong also addresses the broader impact of AI hardware and cloud spending, discussing how decisions in tech investments could shape the future of the industry.