OpenAI's Mega Valuation, SpaceX Commercial Spacewalk | Bloomberg Technology
>> >> FROM THE HEART >> OF WHERE-->> FROM THE HEART OF WHEREINNOVATION, POWER AND MONEYCOLLIDE, THIS IS BLOOMBERGTECHNOLOGY WITH CAROLINE HYDEAND ED LUDLOW. CAROLINE: WE ARE LIVE FROM NEWYORK IN SAN FRANCISCO, THIS ISBLOOMBERG TECHNOLOGY.OPENAI GETS CLOSER TO A NEW AIMODEL THAT REASONS AND A NEWMEGA EVALUATION OF 50 BILLION.ED: INTEL AT A CROSSROADS.THE CHIPMAKER REACHING A PIVOTALMOMENT WITH A DECADE OFDOMINANCE AT RISK.CAROLINE: FIRST COMMERCIALSPACEWALK,
POLARIS HITS MISSIONGOAL 700 KILOMETERS ABOVE THEEARTH.BUT FIRST, LET’S CHECK IN ONTHESE MARKETS.WE ARE RALLYING ONCE AGAIN.FOUR STRAIGHT DAYS OF GAINS ONTHE NASDAQ 100 I’M LOOKING AT.WE HAVE TRILLION IN LARGEPART BECAUSE OF SINGLE NAMESLIKE NVIDIA.NVIDIA IS LINKED TO THEARTIFICIAL INTELLIGENCE ANDWHERE WE WANT TO DIG IN ON.ED:
OPENAI IS IN TALKS TO RACE$6.5 BILLION FROM INVESTORS,CATAPULTING THE AI START UP TO 50 BILLION -- A 50 50 BILLION VALUATION.WE WERE WORKING ON THIS PRIMARYAROUND.LONG STORY SHORT,
150 BILLIONDOLLARS IS A VERY BIG NUMBER INTERMS OF VALUATION.WHAT DO WE KNOW ABOUT OPENAI’SLATEST FUN RACE?>> WE KNOW THEY ARE TRYING TORAISE QUITE A BIT OF MONEY ANDTHEY ARE TRYING TO RAISE ANAMOUNT IN THE FORM OF DEBT.AS YOU AND I AND SOME OF OURCOLLEAGUES REPORTED, THEY AREHOPING TO DO THIS AT QUITE AHIGH VALUATION.158 BILLION WOULD BE MUCH HIGHERTHAN THE AMOUNT WE PREVIOUSLYREPORTED WHICH WAS UNDER 00BILLION.I THINK WHAT WE HAVE TO THINKABOUT WHEN WE THINK ABOUT THISCOMPANY TRYING TO RAISE A LOT OFMONEY IS THAT WHAT THEY AREDOING IS EXTREMELY EXPENSIVE.THEY ARE BUILDING
ENORMOUS AISYSTEMS AND RUNNING ENORMOUS AISYSTEMS AND THAT COSTS A LOT OFMONEY.CAROLINE: LET’S TALK ABOUT WHERETHE MONEY IS BEING SPENT, THELATEST MODELS.THIS IS WHERE TRAINING OF THESEMODELS, THE COMPUTER, THE TALENT-- COMPUTE, THE TALENT, BUTWHAT’S THE OUTCOME?RACHEL: STRAWBERRY IS A MODELTHAT HAS BEEN IN THE WORKS FOR AWILD.ESSENTIALLY WHAT THEY
ARE HOPINGTHAT IT CAN DO IS SOME TASKSTHAT ARE SIMILAR TO HOW HUMANSWOULD CONDUCT REASONING.IT’S GOING TO BE AIMED AT THINGSLIKE MORE COMPLICATED MATH ANDCODING QUESTIONS AND PROMPTSTHAT HAVE BEEN POSSIBLE IN THEPAST.A SOURCE THAT I SPOKE TO WHOTRIED IT OUT SAID IT WAS ABLE TOSOLVE A PROBLEM THAT HAS BEENPOPULAR ON SOCIAL MEDIA TODAY,IS 9.11 LARGER THAN 9.9, WHICHIS
SOMETHING THAT HUMANS WOULDFIND SIMPLE BUT CAN COMPUTERS?ED: OPENAI HAS COME TO THE BANKSAND IS LOOKING TO DO ABOUT $5BILLION OF DEBT IN THE FORM OF AREVOLVING CREDIT LINE.IT’S NOT UNUSUAL BUT IT MAKES METHINK OPENAI IS GETTING TOCOMPANY SCALE.WE KEEP CALLING IT A STARTUP BUTDO YOU HAVE ANY SENSE OF HOWMUCH MONEY ALL OF THISTECHNOLOGY IS BRINGING IN FORTHEM?HOW MUCH OF A BUSINESS THEY HAVEBEYOND JUST CONSTANT R&D AND NEWMODEL INNOVATION?RACHEL: YEAH, THEY HAVE BEENABLE TO SCALE THEIR BUSINESSQUITE A BIT OVER THE PAST YEAR.THEY RELEASED SEVERAL DIFFERENTENTERPRISE PRODUCTS AND WEACTUALLY KNOW FROM A RECENTRECORDING THAT THEY REACHED OVER-- THEY REACHED A MILESTONE INTERMS OF HOW MANY PEOPLE AREUSING THEIR ENTERPRISE VERSIONSOF CHATGPT.THIS WOULD BE INDIVIDUAL USERS,NOT CUSTOMERS.IF THEY ARE ABLE TO KEEP GROWINGAND GROWING ON THAT SIDE, THEYARE BRINGING IN LOTS OF MONEY SOTHE MONEY THEY ARE RAISING,THERE COULD BE LESS PRESSURE ONTHAT.ED: RACHEL METZ, BRILLIANT ANDDEEP
REPORTING AND SOMETHINGPEOPLE ARE TALKING ABOUT ONLINE.THANK YOU.THIS WEEK IS A PIVOTAL ONE FORINTEL.INTEL’S BOARD HAS BEEN WEIGHINGHOW TO MOVE FORWARD AFTER ITSLATEST SERVICE REPORT AND PLANSTO SLASH 15,000 JOBS. BLOOMBERG’S IAN KING PENNED THISBIG TAKE.YOU KIND OF GET IT ALL IN THEFIRST PARAGRAPH.A SLOW-MOTION DISASTER.WHERE ARE
THEY IN THESLOW-MOTION ACTION THAT’SHAPPENING?IAN: IT’S BEEN TOUGH FOR AWHILE.THEY BEEN TRYING TO DO TWO ONTHE MENTALLY COMPETING THINGS.WHICH IS SPEND A LOT OF MONEY ONRESTORING THIS COMPANY TO WHEREIT WAS AT A TIME WHEN BUSINESSHAS TURNED AGAINST THEM AND AWAYFROM THEM.CAROLINE: JUST JUMPING IN HERE,WHAT IS SO INTERESTING IS WHATIS ON THE EXACT AGENDA.PAT, ANY TROUBLE HERE?ED: NOT ACCORDING TO OURREPORTING.--IAN: NOT ACCORDING TO
OURREPORTING.OUR SOURCES THAT WE SPOKE TOSAID THAT’S NOT THE KIND OFMEETING WE ARE UP TO AT THISPARTICULAR POINT.WHAT WE ARE LOOKING AT IS WHATINTEL DOES.IT’S A HUGE COMPANY WITH 100,000PEOPLE.WHERE IT GOES, WHERE IT ISSPENDING, TO LOOK AT
PERHAPSDISCONTINUING SOME OF THE THINGSTHAT ARE PERIPHERAL TO SAVEMONEY TO FOCUS ON TRYING TO PUSHTHAT PLAN FORWARD AT THIS POINT.THAT IS WHERE WE ARE.ED: TAKE US INSIDE THE ROOM OFTHE BOARD MOLDING AND ALL OF THEOPTIONS AVAILABLE TO THEM.WHAT ARE THEY CONSIDERING RIGHTNOW?IAN: THE FIRST THING ON THEAGENDA IS FAR AS WE -- AS FAR ASWE UNDERSTAND IT IS THE FACTORY.WE TALKED ABOUT BIG PLANTS INOHIO AND GERMANY BEING ANEXTENSION OF WHAT THEY HAVE INARIZONA AND SMALLER PROJECTSAROUND THE WORLD.THAT’S OF -- A LOT OF MONEYBEING DEPLOYED.WHAT WE LEARNED IS BUSINESS ISNOT GROWING TO MATCH THATFOOTPRINT.WHETHER IT IS
PHYSICALLY OR AHEADCOUNT.CLEARLY, THE FOCUS IS ONRIGHTSIZING THE COMPANY AROUNDWHAT THEY HAVE COMING IN INTERMS OF ORDERS AND MONEY.CAROLINE: WHAT YOU DO SO WELL INTHE STORY IS THE CONTEXT, ISN IT? THIS ISN’T AN OVERNIGHT ISSUE.THIS IS A LONG TIME COMING.IAN: THAT’S ABSOLUTELY TRUE.THE FOCUS, THE TRADITIONAL
WALLSTREET PLAYBOOK WOULD BE LOOK ATTHE MANAGEMENT, DO WE NEED NEWMANAGEMENT?ALL OF THOSE STANDARD PLAYBOOKTHINGS DON’T REALLY APPLY HERE,AT LEAST NOT YET.PAT WAS BROUGHT IN TO FIX THEPROBLEMS THAT ALREADY EXISTED.HE GAVE A PRESCRIPTION THATEVERYBODY SIGNED OFF ON ANDAGREED WITH.THE PROBLEM THAT WE HAVE IS THATPRESCRIPTION IS BEING PROVENMORE PAINFUL THAN PERHAPS WEEXPECTED AND CLEARLY THE MARKETDOES NOT LIKE THAT.CAROLINE: WE ARE LOOKING AT THEREVENUE GROWTH THE MARKETDOES NOT LIKE.LET’S TALK ABOUT WHAT MARKETSHAPPENED TO DIGEST
WITHMICROSOFT SAYING IT WILL CUT 650JOBS IN THEIR XBOX UNIT.THE THIRD SUCH LAYOFFS AS THECOMPANY IS TRYING TO REIN INCOSTS AND INTEGRATE THAT MASSIVE$69 BILLION ACQUISITION OFBLIZZARD.THE ROLES ARE MOSTLY CORPORATEAND SUPPORTING FUNCTIONSACCORDING TO A MEMO SENT TOSTAFF.ED, WHAT DO WE HAVE COMING UP?>> BREAKING NEWS ON THEBLOOMBERG TERMINAL, APPLE HASFDA AUTHORIZATION FOR ITSAIRPODS TO ACT AS HEARING AIDSIN A HEARING AID FEATURE.WE WERE TRACKING THIS ONEBECAUSE
THEY SAID ON MONDAY,DURING THE PRESENTATION THATTHEY WERE GOING TO GET IT.IF THEY DO, THEY OTHER HEARINGAID STOCKS ARE NOT MOVING RIGHTNOW, THEY WERE WHEN THE NEWSFIRST CAME OUT.APPLE FLAPPED IN WHAT’S BEEN ANINTERESTING WEEK.A HISTORIC DAY FOR SPACEX ANDPOLARIS.I AM LOOKING FORWARD TO THISONE.STICK WITH US.THIS ED: MACRON UNDER PRESSURE THISMORNING.THE STOCK TOUCHING
ITS LOWEST LEVEL IN NEARLY SEVENMONTHS.CUTTING SHARES TO UNDERPERFORMFROM OUTPERFORM WITH A LOWERPRICE TARGET.ANALYSTS WARNING OF A COLLECTIONOF DRAM PRICES.CAROLINE: GENERAL MOTORS IS INDISCUSSIONS TO BUY EV BATTERIESTHAT WOULD USE TECHNOLOGY FORCHINA’S SEE CATL.IT’S ACCORDING TO SOURCES.GABBY IS HERE TO BREAK IT DOWN.THIS IS APOLITICAL
HANDBALL, ITFEELS LIKE.GABBY: YES, IT’S VERY SENSITIVE.WE HAVE U.S. AND CHINA, THE U.S.IS TRYING REALLY HARD TODECOUPLE FROM CHINA AND CHINESECOMPANIES ARE TRYING TO ACCESSTHE U.S. MARKET AND THEAUTOMAKERS, THE AMERICANAUTOMAKERS ARE CAUGHT IN THEMIDDLE.GM, FORD, STELLANTIS, THEY HAVEPOURED BILLIONS OF DOLLARS INTOMAKING BATTERIES AND FORMINGJOINT VENTURES WITH KOREANBATTERY MAKERS AND GOT A LOT OFSOURCES IN ORDER TO DO SO.BUT BECAUSE EV’S ARE NOT SELLINGWELL AND THEY HAVE HAD STRUGGLESMAKING BATTERIES, WHICH ISNORMAL, MAKING BATTERIES ANDEV’S FOR THE FIRST TIME IN YOURHUNDRED YEAR HISTORY, IT’S NOTGOING TO GO SMOOTHLY.IT DIDN’T GO SMOOTHLY FOR TESLAAND DOESN’T
FOR ANYBODY.THEY ARE UNDER PRESSURE.THIS POTENTIAL DEAL WHICH ISSTILL TENTATIVE, THEY ARE STILLUNDER TALKS, NOTHING ISFINALIZED, WOULD BE A WAY FORAMERICAN CAR COMPANIES TO GETACCESS TO CHEAP, REALLY CUTTINGEDGE BATTERY TECHNOLOGY FROMCHINA WITHOUT TRIPPING UP THEPOLITICAL WIRES THAT IT COULDPOTENTIALLY TRIP UP WHEN YOUWORK WITH A CHINESE COMPANY.ED: I THINK THE BASICS OF WHATWE HAVE FROM SOURCES IS REALLYIMPORTANT.THE MECHANICS ARE SUCH THAT THEBATTERY TECHNOLOGY IS LICENSEDFROM CATL, THE CHINESE COMPANY.BUT THE OPERATIONS ARE RUN BY ACONGLOMERATE FROM JAPAN CALLEDTBK.THEY ARE BASICALLY A CONSUMERELECTRONICS COMPANY.AND THEN GM AND OTHER AUTOMAKERSIS
WHAT WE ARE HEARING, WOULDBUY THE BATTERIES ON FIXED TERMCONTRACTS, INSULATED FROM PRICESWINGS.TAKE IT FROM THERE.WHAT ELSE DO WE KNOW?GABBY: I THINK ONE OF THE MOSTINTERESTING THINGS ABOUT THIS ISYOU HAVE A JAPANESE COMPANYACTING AS A MIDDLEMAN.UP UNTIL NOW, WE HAVE SEEN FORDAND TESLA USE THESE -- DO THESELICENSING DEALS WHEREW THECAN USE CATL TECHNOLOGY -- WHERETHEY CAN USE CATL TECHNOLOGYWITHOUT VIOLATING ANY POLITICALRULES.THIS IS HOW THEY ARE ADAPTING TOTHE POLITICAL AND EV ENVIRONMENTAND THE FACT THAT THEY ARE NOTPROFITABLE OR MAKING EV’S YET.WE KNOW THAT GM
AND CATL ANDJAPAN’S TDK, WHICH MAKES BATTERYTHEIR SUPPLIER FOR THE IPHONE.THEY MAKE BATTERIES FOR CONSUMERELECTRONICS.THEY WANT TO GET INTO THE EVBATTERY BUSINESS AND THIS COULDBE A WAY INTO IT.THEY ARE LOOKING AT STATES INTHE SOUTHERN U.S.I THINK THIS IS SO SENSITIVEPOLITICALLY THAT THE RESULTS OFTHE PRESIDENTIAL ELECTION INNOVEMBER COULD AFFECT THEOUTCOME OF THESE TALKS.ED: THAT’S WHAT SOURCES TOLD US.GABBY COPPOLA, GREAT REPORTING.IT WAS A HISTORIC DAY FORSPACEX.THE COMPANY’S POLARIS CREWSUCCESSFULLY COMPLETED THE FIRSTCOMMERCIAL SPACEWALK.TAKE
BILLIONAIRE JARED ISAACMANWAS THE FIRST OF THE CREW TOSTEP OUTSIDE.HERE’S WHAT HE EXPERIENCED.>> WE HAVE A LOT OF WORK TO DO.BUT FOR -- FROM HERE, ITLOOKS LIKE A PERFECT WORLD.ED: SHE WAS FORMALLY ASSISTANTDIRECTOR FOR SPACE POLICY AT THEWHITE HOUSE, WHERE SHE LETADVANCEMENT IN SPATIALCAPABILITIES AS WELL AS AFORMER NASA EXEC AND WITH OVER60 SPACE MISSION CONTRIBUTIONS. LET’S START WITH YOUR REACTIONTO WHAT HAPPENED A FEW HOURSAGO.>> THIS IS A HUGE SUCCESS ANDITS MONUMENTAL, NOT JUST FORASTRONAUTS BUT FOR ANYBODY WITHA DREAM.SPACEX TESTS THE MARKETVIABILITY OF
SPACE TOURISM.TO SEE IF SPACE TOURISM CAN GROWLIKE THE EARLY DAYS OF AVIATION.THIS IS FANTASTIC.ED: THE IMAGES ON THE SCREENTHAT YOU ARE SEEING ARE FROMJARED ISAACMAN’S HELMET CAMERAFROM THE CUSTOM SPACESUIT.AND NOW WHAT YOU ARE SEEING ISTHE NOSECONE CAMERA FROM ATOPTHE DRAGON CAPSULE.THIS IS THE QUESTION SO MANYPEOPLE ASKED ME THIS MORNING.WAS IT ACTUALLY A SPACEWALK?>> YES, TECHNICALLY
IT WASBECAUSE THEY WERE OUTSIDE THEIRCAPSULE, THEIR SPACECRAFT.AND THEY HAVE A RAILING THATTHEY WERE HOLDING ONTO AND THEYWERE OUTSIDE THEIR CAPSULE FOR10 MINUTES EACH, BOTH JARED ANDSHOULD SARAH.THIS IS RISKY.YOU THINK OF THE SPACESUIT AS ASPACECRAFT IN ITSELF BECAUSE ITMONITORS THEIR TEMPERATURE ANDCONTROLS THEIR VITALS WHILE THEYARE OUTSIDE.AND WHAT WE SEE IS HOWSUCCESSFUL THIS WAS AFTER A FEWYEARS OF TRAINING VERSUS THEDECADE THAT ONE TRAINS FOR WHENYOU ARE A PROFESSIONALASTRONAUT.CAROLINE: PHENOMENAL WHEN ITCOMES TO COMMERCIAL SPACESUCCESS.WHAT
WILL WE LEARN WHEN THEYCOME BACK AND THEY ARE TESTED?BECAUSE THIS IS ABOUT RADIATIONEXPOSURE AS WELL.HOW TOUGH COULD THIS HAVE BEENON THEIR BODIES?>> ABSOLUTELY TOUGH.YOU CAN BE HOT ONE MOMENT, YOUCOULD BE COLD ANOTHER MOMENT.YOUR FINGERS COULD HURT.EVEN THOUGH IT IS COLD IN SPACE,THERE CAN BE PRESSURES WITHINTHE SUIT THAT MAKE YOU FEEL VERYWARM.THIS WAS A COMPLETE AND THOROUGHTEST OF
THE SPACESUIT WHICHSPACEX INTENDS TO USE FOR FUTUREMOON MISSIONS AND FUTURE MARSMISSIONS.THERE WILL BE A LOT OF LESSONSLEARNED IN THOSE REGARDS.I THINK IN -- OF THE TRILLIONDOLLAR SPACE TO ECONOMY -- SPACEECONOMY THAT HAS BEEN DISCUSSED.THIS IS AN EXCITING POINT TO SEEIF THERE IS VIABILITY IN THOSEMARKETS TO SEE HOW MUCH GROWTHTHE SECTOR WILL ENDURE DUE TOTHE SUCCESS TODAY.CAROLINE:
SARAH GILLIS WAS OUTTHERE AS WELL.SHE SAID IT WAS INTEGRAL FORDATA.THEY DON’T KNOW WHAT THEY WILLBE DOING WITH THE DATA.AT THE MOMENT, IT FEELS LIKESPACEX IS CLEANING UP WHEN
ITCOMES TO SPACE SUCCESS.IS IT?>> THEY ARE DOING REMARKABLYWELL.IT’S OBVIOUSLY DUE TO THEIRVISION, THEIR HARD WORK AND THISSUCCESS IS JUST SO, SOIMPRESSIVE BECAUSE SPACEWALK ARERISKY AND YOU HAVE ASTRONAUTSTHAT ARE NOT PROFESSIONALASTRONAUTS AND THE COMPANIES AREPLANNING THIS MISSION FOR YEARSAND NOT DECADES.AND THEY PULLED IT OFFSUCCESSFULLY.SO IT’S VERY CRITICAL TO REALIZETHE FEET THAT WAS ACCOMPLISHEDTODAY.IT’S INCREDIBLY IMPRESSIVE.CAROLINE:
THANKS FOR GIVING ITTHE CONTEXT IT DESERVES.GREAT TO HAVE YOU WITH US.FORMER NASA EXECUTIVE.COMING UP, SARAH LEAVY WILL JOINUS TO TALK ABOUT AI’S ROLE INHER ADVISORY FIRM AND HOW WE AREUSING IT TO MANAGE OUR MONEY.ED: WE WILL TAKE A QUICK LOOK ATMICROSOFT.IT’S MORE OF A PSA.BOTH AZURE AND 365 HAVECONNECTIVITY ISSUES.MICROSOFT HAS UPDATED US ANDSAID WHEN IT COMES TO
AZURE,THEY HAVE MANY GET IT WHATEVERTHE ISSUE WAS AND ACCESSED THE365 -- 23 ACCESS TO 365.THERE IS A LOT OF FOCUS WHENTHESE THINGS HAPPEN.PARTLY BECAUSE CLOUD IS SOIMPORTANT FOR SOME ANY PEOPLE.STICK WITH US.THIS IS
>> RUNNING OUT TO THE WORLD OFTECH INVESTING, -- JUST COME OUTWITH THE FIRST OF ITS KINDSALVATION WITH FOUR IN FIVEADVISORS USING AI IN THEIR AURA.SARAH IS HERE WITH US.WHAT MADE YOU RUN THESE SORTS OFNUMBERS?I KNOW YOU’RE LOOKING AT THISPARTICULAR PART OF THE BUSINESSAND REBRANDING IT.YOU JUST WANT TO UNDERSTAND HOWTHESE ADVISORS ARE GETTING TWOGROUPS OF AI?>> THE ADVISOR WE SERVE TENDS TOBE MORE OF A MILLENNIAL ADVISORAND THIS IS A GROWING GROUP ANDTHEY ARE MORE SOPHISTICATED THANTHEIR PREDECESSORS.THEY DON’T SUFFER AS LIGHTLYWHEN THEY THINK ABOUT THETECHNOLOGIES THEY USE.WE NEED TO PROVIDE THEM WITHPOWERFUL TOOLS.BETTERMENT
ADVISOR SOLUTIONS ISOUR ADVISOR ARM AND OUR ROOTSWERE WITH THE RETAIL INVESTORWHERE WE LEARNED A LOT.WHAT WE HAVE LEARNED FORADVISORS IS THEY CAN HARNESS THEPOWER OF TECHNOLOGY SO MUCHMORE.AND AI FOR ME IS A CONTINUATIONON THAT SPECTRUM.WE INTRODUCED AUTOMATION TO SAVETIME AND MONEY, TO HELP WITHCUSTOMER RETENTION AND AI JUSTFURTHERS THAT JOURNEY.CAROLINE: WHAT ARE THEY USING?ARE THEY USING GENERATIVE AI PERSE?ARE THEY MORE PRODUCTIVE?>> I THINK OF AI A LOT LIKEDIGITAL.IF YOU THINK BACK TWO DECADESAGO WHEN YOU TALKED ABOUTDIGITAL IN MUSIC, YOU HAVEDIGITAL AND ANALOG COMPANIES.AT THE TIME, PEOPLE ASKED AREYOU GOING TO
WORK IN DIGITAL ANDTHEN DIGITAL BECAME IN THEFABRIC OF EVERYTHING WE DO.THAT’S HOW WE THINK ABOUT AI,IT’S POWERING THE HUMANS TO DOBETTER, STRONGER, FASTER.SO, EVERYTHING FROM PARAPLANNING, BEFORE YOU MEET WITH ACLIENT AS AN INVESTOR AND AFTERYOU MEET WITH THE CLIENT, THEREIS A LOT OF WORK TO DO.AI CAN TAKE THAT ADMINISTRATIVEBURDEN OFF THE
PLATE.THAT IS ONE EXAMPLE.ED: THE BETTER QUESTION POSED BYTHE FEDERMAN SURVEY --BETTERMENT SURVEY IS WHETHERTHOSE FOUR OUT OF FIVE FINANCEADVISORS WHO ARE USING AI, LOTSOF PEOPLE WILL HAVE A FINANCIALADVISOR, WHETHER AI MAKES THEMBETTER IN MANAGING PEOPLE’SMONEY, IS THERE ANY EVIDENCE OFTHAT?SARAH: I THING I WOULDN’T THINKABOUT AI AS MANAGING PEOPLE’SMONEY.AS A FINANCIAL PLANNER, OURADVISERS ARE FIDUCIARIES.WE AS RIA ARE FIDUCIARIES.THE WAY YOU WANT TO THINK ABOUTAI IS BASICALLY GIVING BACK TIMEAND SAVING MONEY FOR THEADVISORS SO THE ADVISOR CANFOCUS ON THE CLIENT AND THEINVESTMENT SOLUTIONS.THAT’S THE BENEFIT
THEY AREGETTING.AI, THE COMPUTERS ARE NOT TAKINGOVER THE WORLD.THE HUMAN ADVICE IS STILL ACRITICAL COMPONENT OF HITTINGPEOPLE TO GREAT OUTCOMES.ED: AN EXTENSION OF THAT IS THEECONOMICS KIND OF CHANGE.FEES AND THE INCENTIVE OFSOMEBODY USING A SERVICE OR ADIGITAL FORMAT SUCH AS YOURS.SARAH: I THINK IN THE EARLY DAYSOF WHERE WE BEGAN, OUR ROOTSWERE ROBO ADVISORY.THERE WAS A LOT OF DISMAY IN THEADVISOR
COMMUNITY.IS TECHNOLOGY GOING TO TAKE OVERTHE HUMAN INTERACTION?I THINK THAT WAS VERY OVERBLOWNAND I WOULD SAY THE SAME ABOUTAI, WHICH IS NOT TO DIMINISH ITSPOTENTIAL.I THINK IT WILL BE A HUGE POWERTOOL ENHANCER IF YOU WILL.BUT WE HAVE BEEN BUILDING POWERTOOLS FOR ADVISORS AND
RETAILINVESTORS FOR THE BETTER PART OFA DECADE AND A HALF AND THISJUST TAKES THAT TO THE NEXTLEVEL.THAT’S THE WAY WE ARE THINKINGABOUT IT.ED: A CLASSIC 60-40 PORTFOLIO.THE FINANCIAL ADVISOR WILL HAVEMORE TIME BEING FREED UP BY AI.SARAH LEVY, WE APPRECIATE YOUBEING ON BLOOMBERG TECHNOLOGY.COMING UP,
WE WILL BE JOINED BYTHE CFO FOR AN OUTLOOK ON THEFINTECHS SPACE IN LATIN AMERICA.THAT IS NEXT.THIS IS "BLOOMBERG CAROLINE: WELCOME BACK TO"BLOOMBERG TECHNOLOGY."I AM CAROLINE HYDE IN NEW YORK.ED: I AM ED LUDLOW IN SANFRANCISCO.CAROLINE: WE HAVE FOUR STRAIGHTDAYS OF GAINS IN THE NASDAQ 100.DESPITE HEADWINDS OF CPI COMINGIN A LITTLE HOT.TWO YEAR YIELDS PUSHING UP ALITTLE BIT.WE ARE
STILL ANTICIPATING WHATTHE FED WILL DO.MANY ARE SEEING JUST A 25 BASISPOINT CUT.BITCOIN, A LITTLE BIT OF RISK.A LOT OF THE PUSH FORWARD IN THENASDAQ IS THANKS TO NVIDIA ANDSOME OF THE CHIP NAMES.WARNER BROS.
DISCOVERY UP ALMOST2%.CHARTER COMMUNICATIONS STILL HASA DISTRIBUTION DEAL.MASTERCARD UP .6%.MORE THAN $2 BILLION BEING SPENTIN CYBERSECURITY.THEY ARE FOCUSING ON YOUR DATA.MODERNA, YORKIE UNDERPERFORMER.BIOTECH
-- MODERNA, YOUR KEYUNDERPERFORMER.THEY FEEL THERE IS A LACK OFCLARITY.THE REVENUE GUIDE COMING DOWN.ED: I HAVE AN OPPORTUNITY TO GETCLARITY ON ANOTHER BUSINESS.THE GOLDMAN SACHS TECHCONFERENCE COMES TO A CLOSE INSAN FRANCISCO, WE ARE THINKINGABOUT HOW FINTECH ISREVOLUTIONIZING THE SECTOR.MERCADO LIBRE CFO MARTIN DE LOSSANTOS JOINS US NOW.WELCOME TO BLOOMBERG IN SANFRANCISCO.50% OF YOUR BUSINESS ISESSENTIALLY
FINTECH.YOU HAVE MET WITH THE BANKERSAND YOUR INVESTORS AND OTHERMEMBERS OF THE TECHNOLOGYCOMMUNITY.WHAT BUSINESS OUTLOOK AND UPDATEDID YOU GIVE THEM?MARTIN: THANK YOU FOR HAVING ME.WE ARE CELEBRATING THE 25THANNIVERSARY
OF OUR COMPANY.WE HAVE BUILT THE LARGESTE-COMMERCE PLATFORM AND FINTECHPLATFORM IN LATIN AMERICA.WE BECAME THE MOST VALUABLECOMPANY.WE ARE VERY EXCITED ABOUT THEGROWTH AND OPPORTUNITIES WE AREFACING AND THE CHANGE WE AREMAKING.ON THE COMMERCE SIDE, LAST YEARWE HAD MORE THAN 90 MILLIONBUYERS PURCHASING 1.5 MILLIONPRODUCTS ON OUR PLATFORM FORMORE THAN $50 BILLION AND ISGROWING RAPIDLY.WE BUILT A VERY
LARGEINFRASTRUCTURE THAT ENABLED USTO DELIVER A 75% OF PRODUCTSWITHIN TWO DAYS IN LATINAMERICA.THAT WOULD BE SOMETHING YOUCOULD NOT DREAM OF 10 YEARS AGOIN LATIN AMERICA.ON THE FINTECH SIDE, WEPROCESSED PAYMENTS FOR OVER 50BILLION FOR 2 MILLION USERS ONOUR PLATFORM.WE ARE SERVING MOSTLY PEOPLE WHOHAVE BEEN EXCLUDED FROM THEFINANCIAL SYSTEM.PEOPLE WHO HAVE NEVER HAD ACCESSTO CREDIT OR FINANCIAL PRODUCTS.WE
ARE VERY EXCITED ABOUT THEPAST 25 YEARS BUT WE HAVE PLENTYOF OPPORTUNITIES GOING FORWARDFOR THE NEXT 25 YEARS.CAROLINE: WE ARE LOOKING AT YOURSHARES AT A RECORD HIGH.WHAT ABOUT COMPETITION?YOU HAVE SEEN THE FINTECHOPPORTUNITY BUT SO HAVE OTHERS.AS YOU GO FOR A BANKING LICENSE,HOW ARE YOU THINKING ABOUTOTHERS WANTING IT ON THE SPACE?MARTIN: WE SEE A TREMENDOUSOPPORTUNITY ON FINTECH BECAUSETHE BANKS HAVE DONE A POOR JOBIN LATIN AMERICA INCLUDINGPEOPLE IN THE SYSTEM.IF YOU LOOK AT MEXICO, WE ARETHE LARGEST FINTECH IN MEXICO INTERMS OF NUMBER OF USERS.THIS IS A COUNTRY WHERE
50% OFPEOPLE DO NOT HAVE A BANKINGACCOUNT.LESS THAN 20% OF PEOPLE HAVE ACREDIT CARD.THERE IS PLENTY OF ROOM FOR USTO GROW.ED: IN MEXICO, IT IS NOT JUST ABANK ACCOUNT, I AM THINKINGABOUT DEPOSITS AND LOANS.DAVID: -- MARTIN: WE HAVE A .5BILLION BOOK IN MEXICO, THELARGEST FOR ANY
FINTECH IN THECOUNTRY.THE USERS ON THE FINTECH SIDEARE GROWING 37% YEAR ON YEAR.MEXICO IS WIDE OPEN.THERE IS A LOT OF FINANCIALINCLUSION.THERE WILL BE SPACE FOR PLENTYOTHER PLAYERS.IN FINTECH THERE IS ROOM FOROTHER PLAYERS TO CREATE ANDCHANGE THE LIVES OF PEOPLE.CAROLINE:
LET’S GO BACK TOCOMMERCE.YOU HAVE SOME CHINESECOMPETITION. HOW ARE YOU SEEING THE CHINESECOMPETITION IN E-COMMERCE?MARTIN: WE HAVE OPERATED FOR 25YEARS IN THE AREA.THERE HAS BEEN COMPETITION.LOCAL RETAILERS.MORE RECENTLY WITH THEAMERICANS, AMAZON AND WALMART.MORE RECENTLY WE HAVE SEEN MORECOMPETITION FROM THE CHINESE.WE FACE COMPETITION, WE COMPETEUPON OUR STRENGTH.THE
LOGISTIC INFRASTRUCTURE WEHAVE IN LATIN AMERICA THATENABLES US TO PROVIDE AWORLD-CLASS SERVICE AND THEFINTECH AND THE PAYMENTSOLUTIONS WE HAVE BUILT IN THEREGION WHERE MOST PEOPLE DO NOTHAVE A CREDIT CARD, HAVING OUROWN PAYMENT SOLUTIONS IS A BIGCOMPETITIVE ADVANTAGE.IN MEXICO, 25% OF PAYMENTS AREDONE WITH THEIR OWN METHODS.ED: BEFORE WE RUN OUT OF TIME WESHOULD TALK ABOUT ARGENTINA.A
LOT OF PEOPLE ARE TRYING TOMAKE A CONCLUSION OF THEECONOMIC POLICY.HOW DO YOU VIEW THAT MARKET?MARTIN: SOLID POSITION, STARTEDTHE COMPANY BACK IN THE DAY INARGENTINA.A TOUGH FIRST QUARTER BUTGAINING GROWTH IN THE SECONDQUARTER.WE SEE A LOT OF OPPORTUNITIES.WE ARE INVESTING IN ARGENTINA.WE
OPENED OUR NEW FULFILLMENTCENTER THERE.WE SEE A LOT OF GOOD PROSPECTSFOR THE COUNTRY.THE GOOD THING ABOUT OURBUSINESS IS WE HAVE SEEN IT ALLIN LATIN AMERICA OVER THE PAST25 YEARS.THE TREND OF PEOPLE MOVINGONLINE, 15% OF RETAIL IS DONEONLINE IN LATIN AMERICA COMPAREDTO THE HIGH 20’S IN THE U.S. ANDTHE 30’S IN CHINA.THERE IS
ROOM TO GROW THEE-COMMERCE MARKET AND WE ARE THELEADING PLAYER IN E-COMMERCE ANDWE PLAY AN IMPORTANT ROLE INTHAT TRANSITION.ON THE FINTECH SIDE, THERE ISPLENTY OF ROOM.AT MERCADO LIBRE, THE BEST IS TOCOME.ED: MARTIN DE LOS SANTOS, THANKYOU SO MUCH.CAROLINE:
LET’S GET TO TALKINGTECH.CHINA WANTS TO KEEP TV TECH TOITSELF.BEIJING HAS ASKED TO KEEP EVFROM FOREIGN PLANTS.KEY PARTS OF THE VEHICLE WOULDNEED TO BE PRODUCEDDOMESTICALLY.TWO
OF CHINA’S MOST PROMINENT AICHIP DESIGNERS ARE LOOKING TOAN IPO.THE MOVE COMES AS CHINA LOOKS TOSURE UP ITS INDUSTRY TO COMBATU.S.-LED SANCTIONS AND BANS.ED: A LITTLE BIT MORE TO COME INTHE SHOW.WE WILL BE JOINED FOR
ANEXCLUSIVE INTERVIEW ON THECOMPANIES’S LATEST SET OFAUTONOMOUS DEFENSE VEHICLES.MORE BREAKING NEWS COMING UP, ASWELL.CAROLINE: A NEW COO OFMICROSOFT.BUILDING ON CAPABILITIESESSENTIAL IN AI AND OPERATIONALEXCELLENCE.A NEWLY CREATED ROLE.SHE WILL BE JOINING THE SENIORLEADERSHIP PRINCIPAL ROOM.YOU WILL FIND THE PODCAST IN THETERMINAL AND
ONLINE.THIS IS BLOOMBERG. ED: FUSE ENERGY HAS RAISED $32MILLION, VALUING THE START UPABOVE $200 MILLION.INDUSTRY EXPERTS SAY PRODUCINGVIABLE FUSION WILL REQUIREANOTHER DECADE OR TWO OF WORK,GIVING THE COMPANY PLENTY OFRUNWAY.YOU
AND I KNOW LOADS OF PEOPLEWHO HAVE BEEN TALKING ABOUTFUSION FOR A WHILE.THIS IS A TANGIBLE START UP ANDPART OF THE PROCESS.IT SOUNDS LIKE WE ARE STILL ALONG WAY OFF OF IT BEINGMAINSTREAM.>> THE TECHNOLOGY WILL TAKE ADECADE OR TWO TO CREATECOMMERCIALLY VIABLE ENERGY.THIS COMPANY IS LOOKING TO MAKEMONEY ALONG THE WAY BY PROVIDINGRADIATION AS A SERVICE TO NOTONLY THE PRIVATE STARTUPS THATARE LOOKING TO DO THIS.THERE IS A LOT OF MONEY AND ALOT OF INTEREST
INCOMMERCIALIZING THIS BUT MOREIMPORTANT TO PROVIDE REVENUE ANDTESTING RESULTS IMMEDIATELY BYPROVIDING RADIATION AS A SERVICETO NUCLEAR WEAPONS TESTING ANDALSO USE THE DATA TO BUILD THEIROWN FUSION GENERATOR.CAROLINE: POSED POWER MACHINESARE WHAT THEY ARE BUILDING.WHO WANTS TO TAKE THE FINANCIALRISK TO BACK THIS?LIZETTE: THERE ARE A NUMBER OFINVESTORS.BUCKLEY VENTURES, TAMARAC, ASWELL AS THE CHAIN SMOKERS, THEMUSICAL GROUP, THEIR VENTURECAPITAL FIRM.ALONG WITH FORMER DOD, OFFICIALSAND SOMEONE FROM LOCKHEEDMARTIN.THEY WILL BE LOOKING TO USE THISTECHNOLOGY IN INCREMENTAL WAYS,LOOKING TO RENT THEIR MACHINESTO BLAST DIFFERENT MACHINES LIKEFIGHTER PILOTS TO SEE WHAT THEEFFECTS OF A NUCLEAR EXPLOSIONWOULD BE ON PLANES AND OTHERMATERIALS THAT THE U.S. WOULDNEED IN A TIME OF
WAR.CAROLINE: LIZETTE CHAPMAN, WEAPPRECIATE IT.TALKING ABOUT TIME OF WAR, THEBARRACUDA FAMILY OF AUTONOMOUSAIR VEHICLES HAS BEEN REVEALED.AIMED AT
MASS-PRODUCING AERIALVEHICLES MORE CHEAPLY.THE PHILOSOPHY HERE IS MAKING ITEVERMORE EASY, FEWER PARTS ANDMAKING IT QUICKER TO MAKE.PALMER: THAT IS DOWNSTREAM OFTHE REAL GOAL, MAKING SURE THEU.S. AND THE ALLIES HAVE THETOOLS WE NEED.A LOT OF WARGAMES, THE U.S. ISRUNNING OUT OF CRITICALMUNITIONS IN A FEW DAYS OFCONFLICT.WE HAVE BEEN WORKING TO BUILD AFAMILY OF SYSTEMS THAT SOLVESTHIS.IT IS CALLED BARRACUDA.HALF THE PARTS IN
HALF THE TIMEUSING 95% LESS TOOLS THANEXISTING MISSILE SYSTEMS.IT IS DESIGNED TO BE MADE ATSCALE.MANY THOUSANDS OF SYSTEMS AT ATIME.THAT IS WHAT THE U.S. AND OURALLIES NEED.CAROLINE: TALKING ABOUT PARTNERSAND ALLIES, DROWNED AI INUKRAINE, YOU ARE SUPPLYINGDRONES PILOTED BY AI.HOW MUCH AUTONOMY DO THEY HAVEABOUT TARGETS?PALMER: IN OUR CASE, IT IS ALLABOUT AI. THE CORE SOFTWARE IS A BRAINTHAT POWERS BARRACUDA AND GHOST.THEY ARE IN UKRAINE AND HAVEBEEN SINCE THE SECOND WEEK
OFTHE WORK.WE HAVE DESTROYED CRITICALRUSSIAN HARDWARE THAT CANNOT BEDESTROYED BY THINGS THAT REQUIREA REAL-TIME LINK TO A PERSONBECAUSE THE RUSSIANS ARE QUITEGOOD AT JAMMING COMMUNICATIONLINKS.THEY DO NOT HAVE ENOUGH OF THESEJAMMERS TO HIT THE ENTIREBATTLEFIELD.THAT IS WHY IT IS IMPORTANT TOKEEP TAKING THOSE THINGS OUT ANDHELPFULLY LEAVE THEM HELPLESS.ED: PALMER, IT IS GREAT TO HAVEYOU BACK ON "BLOOMBERGTECHNOLOGY."I AM THINKING ABOUT THE
EXISTINGWORK AND WHAT WE ARE HEARINGFROM UKRAINE.THEY WANT TO STRIKE DEEPER INTORUSSIA.IS THERE ANY TECHNOLOGY WHEREYOU WOULD WORK WITH UKRAINE ONTHAT PROCESS?PALMER: ABSOLUTELY, THAT THE CAPYACHT THAT THESE DECISIONS AREUP TO THE U.S.
GOVERNMENT.TO A LARGE EXTENT, WHAT THEY DOWITH THESE WEAPON SYSTEMS.I DO NOT THINK ANDURIL OR ANYPRIVATE COMPANY SHOULD BE IN APOSITION WHERE WE ARECONTROLLING A U.S. FOREIGNPOLICY DECISION.WE NEED TO PUT THAT DECISIONWITH THE
PEOPLE WHO ARE SUPPOSEDTO MAKE THAT DECISION.PEOPLE ACCOUNTABLE TO THEELECTORATE.YOU SHOULD NOT HAVE TO TRUST ME.YOU SHOULD TRUST SOMEONE YOU CANVOTE FOR AND VOTE ACCORDINGLY.ED: WE ARE SHARING IMAGES OF
THEBARRACUDA SYSTEM.YOU TALKED ABOUT ALLIES.DO YOU WANT TO BE IN SERVICE OFANY SPECIFIC ALLIES BEYOND THEU.S. GOVERNMENT?WHAT IS THE BENEFIT OF THESCALABILITY OF THE DESIGN?PALMER: I DO NOT THINK THEUNITED STATES NEEDS TO BE THEWORLD POLICE.WE NEED TO BE
THE WORLD GUNSTORE.WE NEED TO PROVIDE OUR ALLIESAND PARTNERS WITH THE TOOLS THEYNEED TO TURN THEMSELVES INTOPORCUPINES THAT NOBODY WANTS TOSTEP ON.SENDING AMERICAN LIVES OVERSEAS,BOOTS ON THE GROUND, WILL NOT BETHE FUTURE OF HOW WE SUPPORT OURFRIENDS AROUND THE WORLD.IT WILL BE MAKING SURE WE CANMAKE
THINGS AT A SCALE TO WHERETHEY BELIEVED OUR SUPPORT FORTHEM WILL BE TO SCALE.UKRAINE HAS EXPOSED THEWEAKNESS IN THE U.S. FOREIGNPOLICY STRATEGY.WE SAY WE SUPPORT THESE PEOPLEBUT THEY SAY THEY CANNOTMANUFACTURE THE BASICS LIKEARTILLERY SHELLS OR SMALLMISSILES.HOW CAN I POSSIBLY COUNT ONTHESE PEOPLE
TO CASH THE CHECKSTHEY ARE WRITING?BARRACUDA WAS DESIGNED FORLOW-COST, HIGH RATEMANUFACTURING.IT IS A OPERATING SYSTEM RIGHTNOW WITH MULTIPLE CUSTOMERS.PARTNERS WILL BE ABLE TO TRUSTTHAT BARRACUDA IS SOMETHING THEYCAN ACTUALLY MAKE FOR THEM ANDDELIVER NOT JUST NOW BUT IF ACONFLICT WERE TO COME ABOUT.CAROLINE:
YOU ARE DELIVERING BYMANUFACTURING EVERMORE IN THEU.S.YOU HAVE JUST RECENTLY GOT AWHOPPING VALUATION OF $40BILLION AND OTHER MANUFACTURINGUNITS.CAN YOU UPDATE WHERE THEY MIGHTBE, THESE SPRAWLINGMANUFACTURING AREAS?PALMER: WE CLOSED A HUGE ROUNDWITH INVESTORS.STRATEGIC
INVESTORS WHO WANT TOHELP US BUILD A LOT OF THINGS,PARTICULARLY ARSENAL 1, AFACTORY THAT WILL CREATETHOUSANDS OF JOBS AND BUILD VASTNUMBERS OF AI POWERED AUTONOMOUSWEAPONS SYSTEMS.IT IS NOT JUST BARRACUDA.IT IS THE ENTIRE AMOUNT OFTHINGS THAT ANDURIL MAKES.DRONES, SUBMARINES.ABLE TO SHARE A LOT OF TOOLINGBETWEEN THE PROGRAMS
WHICH GETSTHE COST DOWN AND THE RATES OFAND THE BENEFITS FLOW ONTO OURCUSTOMERS.ED: PALMER, IS ANDURIL SELLINGAIR DEFENSE SYSTEMS TO ISRAEL?PALMER: I CANNOT COMMENT ON ANYSPECIFIC DEPLOYMENTS BUT I WILLTELL YOU THIS -- I HAVE NOPROBLEM WITH ISRAEL AND NOPROBLEM SELLING THINGS TOISRAEL.A BETTER TARGET FOR YOURQUESTION WOULD BE THE UNITEDSTATES GOVERNMENT.ED: YOU MENTIONED CHINA AT THETOP
OF THE CONVERSATION.DOES ANDURIL HAVE A COMMERCIALRELATIONSHIP WITH TAIWAN?PALMER: WE HAVE A VERY STRONGRELATIONSHIP WITH TAIWAN.I AM GOING THERE AGAIN SOON.THAT STRONG RELATIONSHIP IS ONEOF THE REASONS THAT ANDURIL WASRECENTLY SANCTIONED BY THECHINESE COMMUNIST PARTY.THEY ANNOUNCED THEY WILL SEIZEALL OF OUR CHINESE ASSETS AND WECANNOT ENTER THE COUNTRY.THE JOKE IS ON THEM, WE DO NOTHAVE ANY CHINESE ASSETS.IT WAS IN THE WAKE OF A
DEAL WEDID WITH TAIWAN, GETTING THEMSOME SYSTEMS THAT FRANKLY CHINAIS AFRAID OF.THEY KNOW OUR SYSTEMS ARE THEREAL DEAL AND THEY CANNOT JAMTHEM OR HACK THEM BECAUSE THEYARE POWERED BY AI.ED: ANDURIL SOUNDER PALMERLUCKEY, IT IS GREAT TO HAVE YOUBACK ON "BLOOMBERG TECHNOLOGY."ADOBE
EARNINGS CONTINUE AS WEGET THE EXPECTATIONS BACK.THIS IS "BLOOMBERG TECHNOLOGY." CAROLINE: 67 MILLION VIEWERSTUNED INTO THE PRESIDENTIALDEBATE BETWEEN KAMALA HARRIS ANDDONALD TRUMP. WELL BEYOND THE 51 MILLIONPEOPLE WHO WATCHED DONALD TRUMPAND JOE BIDEN.TRUMP SAID HE IS NOT INCLINED TOHAVE
ANOTHER DEBATE WITH HARRISBUT HAD NOT RULED OUT ANOTHERMATCHUP.ED: BELIEVE IT OR NOT, EARNINGSSEASON IS CONTINUING.THE NEXT WAVE OF GENERATIVE AISERVICES MAY DEPEND OF TECHCOMPANIES CAN FIND ENOUGH 3DRENDERINGS OF TRACTOR-TRAILERSAND SHAMPOO BOTTLES.STARTUPS ARE WORKING ON THAT.THIS IS SOMETHING BLOOMBERGREPORTED ON BEFORE ADOBE’SEARNINGS.LET’S START WITH THE REPORT.I SAW THE IMAGES AFTER THESTORY.>> YOU CAN GO ON THE INTERNET IFYOU ARE SO INCLINED AND SCRAPE ABUNCH OF PHOTOS, VIDEOS ANDBOOKS.IF YOU WANT TO CREATE
A 3D MODELTHAT CAN GENERATE A COFFEE CUPOR SOMETHING LIKE THAT, YOU NEEDSOMETHING WHERE YOU CANNOTSCRAPE IT.WE ARE SEEING COMPANIES LIKEADOBE GO OUT AND BUY 3D DATAFROM CREATORS.YOU HAVE THESE 3D RENDERINGS OFBRIDGES, WHAT IF YOU SHARE THEMWITH US?SODA BOTTLES GET CREATED, A YEAROR TWO DOWN THE LINE, WE WILLSEE 3D MODELS COME OUT.CAROLINE: HOW MUCH IS ADOBE ABLETO MONETIZE THIS FOCUS?BRODY: THAT IS THE BIG QUESTION.EVERYONE WANTS TO KNOW IF ADOBECAN REALLY GET
MONEY FROM THEIRGENERATIVE AI INNOVATIONS.THEY HAVE ROLLED OUT A LOTTHROUGH PRODUCTS, HIGHER PRICINGTIERS.IT IS NOT TOTALLY CLEAR IF THEYARE MAKING MONEY FROM IT YET.CAROLINE: WE WILL SEE IF THEREVENUE CAN HIT THE 10% LEVEL.BRODY FORD, WE HOPE YOU WILLJOIN US TOMORROW TO BREAK DOWNTHE NUMBERS.THAT DOES IT FOR THIS EDITION OF"BLOOMBERG
TECHNOLOGY."ED: WHAT AN EDITION IT WAS.PRIVATE COMPANIES TO PUBLICCOMPANIES.FIND A PODCAST IN THE TERMINALAND ONLINE ON APPLE.FROM NEW YORK CITY WITH CAROLINEAND OUT HERE IN SAN FRANCISCOWITH ME, THIS IS "BLOOMBERGTECHNOLOGY."
2024-09-15 18:00
