Tim Stenovec

This shareholder is approving a $1 trillion pay package for Elon Musk last week.

On the promise that he'll transition the company to focus on AI and robotics, the company likely benefiting from the wider risk on sentiment today, too.

This is Bloomberg Tech.

Time now for Talking Tech.

First up, Grab investing $60 million in remote driving service VEI with the potential to reach $410 million.

Check this out.

VEI allows users to order a car, which is then operated remotely and delivered to the customer.

The deal is expected to close in the fourth quarter.

Plus, TSMC posted a 16.9% rise in sales for the month of October.

That's the slowest pace for the chipmaker since February of 2024.

Still, the company on track to meet average analyst estimates of 16% sales in the current quarter.

And Nvidia's Jensen Wang remains optimistic about the AI demand, asking TSMC for more chip supplies.

Speaking to reporters in Taiwan, Wang said, quote, the business is very strong and it's growing month by month, stronger and stronger.

Welcome back to Bloomberg Tech.

Power constraints are slowing parts of Silicon Valley's AI expansion, with two proposed data centers in Santa Clara facing potential delays due to limited utility capacity.

But just south, in San Jose, Prologis has won approval to develop new data centers and manufacturing facilities with a vision that includes five electric substations for power.

For more, we're joined by San Joseer Matt Mahan.

Matt, good to have you on the program today.

The first question I have is really about why San Jose is a good place for facility like this.

This is some of the most expensive real estate, some of the most expensive housing in the entire United States.