Bloomberg Talks

Lisa Su, CEO of Advanced Micro Devices, leads a conversation on the groundbreaking MI-455 chip designed for data centers, featuring an impressive two/three nanometer design with 320 billion transistors. She discusses strategic partnerships with OpenAI and Oracle, as well as AMD's competitive edge against Nvidia. Su also examines the anticipated explosion in AI compute demand, forecast at a 100x growth, and outlines AMD's open ecosystem approach. She highlights the company's commitment to addressing production challenges and its roadmap for future chip advancements.

John Bolton, former U.S. National Security Advisor and Ambassador to the UN, discusses the ongoing complexities in Venezuela. He emphasizes that while Maduro's face is gone, the regime remains intact, citing persistent loyalists. Bolton expresses skepticism about the White House's leverage strategies, particularly oil embargoes. He highlights the immense investment needed to rebuild Venezuela's oil sector amidst instability, and critiques the U.S. stance on opposition leader Maria Corina Machado, all while noting the strategic interests of global powers like China and Russia.

Ricardo Hausmann, a Harvard Kennedy School professor and former Venezuelan public official, shares his insights on the dire situation in Venezuela. He critiques the notion that foreign oil control can substitute for democratic legitimacy. Hausmann emphasizes the Venezuelan people's overwhelming desire for political change and the importance of democratic frameworks for oil investment. He warns against U.S. coercive tactics that may empower violent factions and highlights the need to support credible opposition leaders, like Maria Corina Machado, to restore democracy.

Wilbur Ross, former U.S. Secretary of Commerce and turnaround expert, dives into the tumultuous situation in Venezuela, particularly the arrest of Nicolás Maduro. He discusses the staggering potential of Venezuela's oil reserves, contrasting them with the nation's crippling debt. Ross highlights the economic fallout from production declines and emphasizes the urgent need for agricultural and infrastructural revival. He also touches on investment challenges, the role of the IMF, and the geopolitics involving China and Russia, all while suggesting a careful path toward new elections.

Ed Morse, a Senior Advisor and commodities strategist at Hartree Partners with extensive experience in global oil markets, sheds light on the intricacies of Venezuela's oil revival amidst political upheaval. He shares insights on the billions needed in investment for infrastructure to attract oil companies back to Venezuela. Morse also discusses the geopolitical landscape, US involvement, and China's predicament as a creditor. Additionally, he explores OPEC+'s cautious strategy and how expanding U.S. energy policy could reshape the future beyond oil.

Rep. Brad Schneider, a Democratic congressman from Illinois and chair of the New Democrat Coalition, discusses the legality and implications of the U.S. involvement in Venezuela following President Trump's announcement of U.S. control. Justin Logan, director at the Cato Institute, critiques the administration's rationale, labeling it as misleading, especially regarding claims about fentanyl and deaths. The conversation reveals concerns over war powers, the motives tied to Venezuelan oil, and the political optics of regime change.

Bob Curley, Deputy Chief Banking Officer at Western Alliance, shares insights on the bank's robust 2025 performance and anticipates a surge in IPOs and M&A activity in 2026. He explains the diverse deal landscape and how innovation banking is thriving. Curley highlights venture debt's importance in extending company runways and discusses the sectors buzzing with activity, like AI, medical sciences, and energy tech. He also stresses the need to assess the genuine differentiation of AI claims in the market.

Dana Peterson discusses the murky economic signals following the government shutdown. She points out the confusion in recent GDP data and calls for more clarity on inventories and trade. Highlighting shifts in consumer confidence, she notes a trend toward essential purchases and budget-friendly entertainment. Peterson also warns about the uncertain impact of tariffs on hiring and inflation. Despite a slowdown in wage growth, it still outpaces pre-pandemic levels, leaving varied effects on workers.

Rohit Chopra, former Consumer Financial Protection Bureau director and expert in consumer finance and healthcare, dives into the looming crisis as enhanced ACA subsidies face expiration. He predicts a spike in uninsured rates and rising healthcare costs for consumers already feeling financial strain. Chopra highlights the risks posed to rural hospitals and the potential decline of the CFPB's enforcement capabilities. He also discusses how the weakened labor market and issues like student debt are shaping opportunities for young workers in today’s economy.

Claudia Sahm, Chief Economist at New Century Advisors, delves into the latest trends in US unemployment and labor markets. She highlights a surprising drop in jobless claims, indicating stability in employment despite fears of layoffs. Sahm discusses how demographic shifts and slower immigration are shaping hiring alongside GDP growth. She also examines the impact of interest rate cuts on manufacturing jobs, the role of AI in the workforce, and the value of skills training in today's job market.