Tim Stenovec

Amazon talks to invest $50 billion in open AI, expand ties.

This could be part of a $100 billion investment.

funding round, which would value OpenAI at more than $800 billion.

When we're talking about a funding round of $100 billion, I mean, we're talking about just the massive, massive scale.

What does it mean that Amazon could invest this much money?

The scale is just otherworldly, the amounts of money that we're talking about right now.

Yeah, all about the iPhone.

And in some ways, it's like an issue of chronology and timing, right?

Think about when Apple announces the iPhone 17 generation and we're all there in Cupertino for it.

And then it goes on sale and you have the holiday quarter.

So, you know, actually it goes a little bit beyond that.

This is where the Bloomberg terminal comes in useful.

So that is a big beat.

You can just see it looking at the headline on a dollar basis.

But not only is it 9% above consensus, even the top end of the most bullish ranges on how this iPhone would do were only about $81 billion.

I think it came in above $85 billion.

So they've done something.

Either the phone has got traction or...

or they've done something smart with the timing of it and it's sold well.

The bit that's missing, of course, is that that commentary does not have anything specific to do with Greater China.