Ed Ludlow

Enterprise value of the deal, $11 billion, including debt.

I think of Confluent as like the plumbing for data, particularly in a world where these very large frontier models aren't relevant to lots of companies.

IBM basically wants you to pipe your data into its Watson platform real time.

And that's what this deal represents.

IBM a little higher, but Confluent up 28%.

This is Bloomberg Tech.

And I'm Nathan Hager.

Each morning, we're up early putting together the latest episode of Bloomberg Daybreak U.S.

Edition.

It's your daily 15-minute podcast on the latest in global news, politics, and international relations.

Find us on Apple, Spotify, or anywhere you listen.

Bloomberg senior tech editor Mike Shepard has been across what we knew has been being talked about more and more.

Anxiety that there will be 50 rules for AI companies instead of just one federal rule.

What sort of form could this take, Mike?

Well, it's really unclear.

We have seen circulating in recent weeks a draft version of a measure that the president might sign that would call for two things.

It would allow the Justice Department to sue states over regulations at the state level that the federal government finds unconstitutional.

It would also call for cutting funding to states that have regulations in place that the administration finds objectionable.

It's unclear what those criteria exactly are.

We did see in the AI action plan a call for reining in rules that might impede innovation.