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 Nathan Hager. Big tech spending on artificial intelligence is showing no sign of letting up. And it's sparking a sell-off on Wall Street this morning. Led by the Nasdaq composite, it is down 2% right now. The S&P 500 is sinking by 1%. The Dow Jones Industrial Average is lower by three-tenths of 1%. Microsoft is leading the declines down 12%.
After the software giant reported $37.5 billion in AI spend, but slowing growth in its Azure cloud, Mandeep Singh covers tech for Bloomberg Intelligence.
Everyone is, you know, compute constrained right now. So that's where memory prices are having an impact and all the things that are going on in terms of the chip. Prices are having an impact.
Mandeep Singh with Bloomberg Intelligence. Now, Meta Platforms is predicting even more AI spend, up to $135 billion this year. That stock is getting rewarded to the tune of more than 7.5%. Bloomberg Tech host Ed Ludlow.
That's a ginormous figure. But in the current period, at least in the forward-looking commentary that they gave, ad sales growth is very strong.
Yeah. Ed Ludlow is host of Bloomberg Tech. That is the setup as Apple gets ready to open its earnings books later today. Anurag Rana covers the iPhone maker for Bloomberg Intelligence.
These guys are going to do okay in terms of total revenue growth for the first time for the iPhone. I think it's going to be in double digits.
Anurag Rana with Bloomberg Intelligence says the question is whether rising memory costs force Apple to raise its prices for those iPhones. Ahead of the earnings, Apple shares are down about two-tenths of one percent.
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Chapter 2: What is the significance of AI spending in the current market?
The drawdown is going to happen. based on these agreements, where the drawdown can happen even more if the hateful rhetoric and the impediment and interference will stop.
That's Barad House Border Czar Tom Holman. We get more from Bloomberg's David Gurra.
It sounds like, from what Tom Holman said, we are going to see a change in tactic here, but certainly, and I'll emphasize this as well, nothing in those remarks makes it sound like that federal presence, yes, it might be diminished, is going away. anytime soon.
Bloomberg's David Gurr reporting. Meantime, Maine Senator Susan Collins says enhanced immigration enforcement is going away in her state. The Republican had called on Homeland Security Secretary Kristi Noem to end what she had called Operation Catch of the Day. Maine, like Minnesota, has a sizable Somali population.
On Capitol Hill, Senate Majority Leader John Thune says President Trump and Senate Democrats are close to a deal on averting a government shutdown over the Minneapolis turmoil. Bloomberg's Tyler Kendall is following that.
It's not clear what the White House will agree to. And the real issue is even if there is an agreement, this plan is going to require it to be kicked back down to the House no matter what. And lawmakers in that chamber are out of session and out of Washington until next week.
And the funding deadline is this Friday at midnight, which means that we are likely looking at a lapse in funding at least over the weekend.
Bloomberg's Tyler Kendall reports Democrats are pushing for warrant requirements, body cameras, and no masks for ICE agents. Senator Thune says he is optimistic about a deal, but in his words, let's hope it lands. The founder of bankrupt auto parts company First Brands, Patrick James, is facing federal charges.
An indictment filed in New York City accuses James and his brother Edward of a series of fraudulent schemes against lenders and financing partners.
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Chapter 3: How is Microsoft affected by AI spending and market performance?
before the company filed for Chapter 11 bankruptcy protection back in September. President Trump says he had a call today with Mexican President Claudia Sheinbaum ahead of a cabinet meeting at the White House. The president says they discussed the border, drugs and trade and will work on setting up meetings in both countries.
Tensions have been rising with Mexico after the ouster of Venezuelan leader Nicolas Maduro. The U.S. has been looking to choke off fuel supplies to Cuba. President Sheinbaum says Mexico's aid to the island did not come up in the call. Another major winter storm is threatening to land along the east coast this weekend, but at this point could be a miss for much of the northeast.
Bloomberg meteorologist Craig Allen has the latest track.
The northern fringe could just about get to D.C. I do see some snow east of New York City across Long Island and portions of Connecticut. And then when you get it to to about the Boston area, especially out towards Cape Cod. This is going to be a pretty mighty snowfall for that area once again.
That's Bloomberg meteorologist Craig Allen. And Super Bowl 60 is still 11 days away, but the ad game is in full swing. NBC says prices for ads on the broadcast have now reached $10 million. The network's head of global advertising tells Bloomberg you'll expect to see more ads from tech, drug makers, and wellness companies. That's news when you want it with Bloomberg News Now. I'm Nathan Hager.
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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.
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Chapter 4: What predictions does Meta Platforms have regarding AI investment?
Stability with dynamism. Global connectivity with local depth. It all adds up to greater growth. Visit business.gov.uk slash growth.