Ed Ludlow

It's a simple formula we're repeating.

Microsoft's Azure cloud unit growth 38%, in line with estimate consensus.

But at the top end, people were like, where's my 40% growth?

And they told us about their capital expenditures and those kind of exceeded and still the market was disappointed.

It's a very high bar on a simple formula that we've discussed endlessly.

Spend more on AI investment and infrastructure, but show us very strong top line growth as a direct result of it.

This could not be more clear.

The bread and butter legacy business of selling EVs to consumers, even the high-flying energy storage business, is now kind of secondary to this focus of Tesla becoming a physical AI company.

Bloomberg's Ed Ludlow.

The commitment from Amazon is very much to grocery in the context of sub-same-day, right?

They've been focused very much on the online offering and doing those hourly deliveries and slots, but foot traffic's been falling away on these early locations.

I don't know if you guys have ever been into an Amazon Go, but it's the humanless facility where it links your prime account.

You just kind of pick up the items and leave and it detects it and charges.

But they found scaling that tech very difficult.

So that's the rebalancing of what was already a small footprint.

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with Caroline Hyde in New York and Ed Ludlow in San Francisco.

Right.