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Chapter 1: What is the main topic discussed in this episode?
The UK stands apart as a place to do business, not because of one advantage, but many working together. Over Ā£10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now.
I'm Stephen Carroll.
And I'm Caroline Hepker.
$650 billion. That's how much four of the biggest U.S. technology companies are planning to spend on capital expenditure this year. Bloomberg has calculated that the spending planned by Alphabet, Meta, Microsoft and Amazon would set a high watermark for capital spending by any year. single corporation in any one of the past 10 years.
Shares on Amazon dropped after the company yesterday announced its latest results and plans to spend $200 billion this year on data centres, chips and other equipment. CEO Andy Jassy said the money will predominantly go to the company's cloud unit and most of that spending would be for AI workloads. Speaking on the earnings call, he said it would be worth it.
When I look at what's happening, it's kind of unbelievable if you look at the demand of what you're seeing already with AI, but the lion's share of that demand is still yet to come in the middle of that barbell, and that will come over time.
Andy Jassy was speaking as Amazon shares fell by 11% in post-market trading. The spending set to weigh on Amazon's profits with operating income in the current quarter now forecast to be below expectations between $16.5 and $21.5 billion.
Well, the latest on plans for more capital spending from those big US tech names came as the Nasdaq 100 extended its deepest slide since April. Software stocks extended their tumble after artificial intelligence startup Anthropic rolled out an additional model that's designed to carry out financial research.
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Chapter 2: How much are major US tech companies planning to spend on capital expenditure?
Sorry for what was done to you. Sorry that so many people with power failed you. Sorry for having believed Mandelson's lies and appointed him. And sorry that even now, you're forced to watch this story unfold in public once again.
Keir Starmer's apology follows a concession on Wednesday that material used to vet Mandelson for the role of UK ambassador to the US did contain details of his links to Epstein. After the revelation, some Labour MPs helped force the government to agree to release sensitive documents about the appointment to the cross-party Intelligence and Security Committee for review.
A YouGov poll released hours after Starmer's latest remarks showed 50% of the British public believe the Prime Minister should resign.
Emails released by the US Department of Justice have also revealed Epstein's association with billionaire financier Ronald Lauder, including arrangements for lunches at Epstein's Upper East Side residence in 2017. Epstein coordinated the creation of a legal vehicle in 2014. that allowed Lauder and Leon Black to share ownership of a $25 million painting.
The emails do not suggest Lauder or Black had involvement with Epstein Beyond Limited business, social and philanthropic engagements.
Nuclear talks between the United States and Iran are being held in Oman today. According to the Tasnim news agency, the talks have begun. Bloomberg's Ewan Potts has more.
Today's talks in Muscat mark the first public meeting between Iranian and US officials since Tehran's violent suppression of mass protests in the country last month. The summit comes as President Trump calls for another nuclear agreement, a new deal between the US and Russia. This after the new Strategic Arms Reduction Treaty, known as New START, signed in 2010, expired yesterday.
Trump says the existing treaty was a badly negotiated deal, which was being, in his words, grossly violated. Russia has warned the expiry of New START means the two sides are now, quote, free to choose their next steps. In London, I'm Ewan Potts, Bloomberg Radio.
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Chapter 3: What impact will Amazon's capital spending have on its profits?
That's news when you want it with Bloomberg News Now. I'm Caroline Hepker.
I'm Stephen Carroll. And this is Bloomberg. As a place to do business, the UK stands apart. Not because of a single advantage, but a uniquely powerful combination of many. As one of the world's leading financial centres, the UK puts over Ā£10 trillion to work every day, fuelling innovation across every sector.
Home to four of the world's top universities, it provides exceptional talent and breakthrough research. This sits alongside a clear 10-year industrial strategy, unlocking smarter regulation and making it faster and easier to operate. Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.