Ed Ludlow

Look, I've just returned from AWS reInvent in Las Vegas, where Snowflake comes up, as does Salesforce, in the context of two companies that will benefit from a move into an era of agentic AI.

But if you look again at the stock, the market doesn't seem to believe that Snowflake's a beneficiary of that, at least right now in the near term.

There's also a sort of methodology difference, which, Seth, we've reported on, right?

The idea that Anthropic's probably less focused on building its own infrastructure, leasing capacity, doing deals with partners, stuff like that.

Did he explain that kind of technological point of difference or business plan point of difference?

I think with Anthropic, it's worth reminding the audience about who they are beholden to or not beholden to, as the case may be.

When I was in Vegas, I asked AWS CEO Matt Garman why he hadn't mentioned Anthropic in his big keynote, given that they're such a big investment for Amazon, for example.

And Anthropic gets so much business through Bedrock and AWS.

Could you just explain who their investors are and who they do rely on currently?

Bloomberg's Seth Figgeman, thank you very much.

Okay, let's get back to our top story with Meta considering potential budget cuts as high as 30% for the Metaverse Group next year, 2026.

Minda Smiley joins us for more on this.

She's a senior analyst at eMarketer focused on social media.

You know, what's interesting about this is

the consumer's general attitude to technology, right?

Am I going to use an AI tool every day or am I gonna jump head first into the metaverse?

It's a big share move, but I think what I find interesting about your response is that you don't find it that surprising that there is being a cut back in the metaverse initiative.

To recap, this reporting is according to sources, and it's 30% budget cuts for Metaverse, but that will include an element of layoffs.

I'm trying to understand the difference, right?

Caroline and I have both spent a lot of time using mixed and virtual reality headsets, and I've spent a lot of time using Ray-Ban Meta smart glasses, right?