AI Weighs on Markets, Japan to Invest $36B in US Projects, More
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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 10 trillion pounds 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 Doug Krisner. There is simply no mistaking the disruptive power of artificial intelligence.
What disruptive power does artificial intelligence hold in the market?
Today, Anthropic released a new AI model aimed at using PCs in increasingly complicated ways. Claude Sonnet 4.6 can carry out actions that require multiple steps, such as filling out web forms and then coordinating information across several browser tabs. Now, the equity market remains anxious over the ability of AI to disrupt many businesses. Software stocks in particular have been punished, and in some cases, so has the debt associated with those companies. Today, a handful of software firms released earnings ahead of schedule to show their resilience.
How are software stocks reacting to AI advancements?
Nonetheless, the IGV software ETF was down 2.2% today. Here is Julie Beal from Kane Anderson Rudnick.
It's very likely that AI is going to disrupt all of us in a pretty meaningful way, but it's not clear to me, and I don't think it makes a lot of sense to be directing a ton of client money based on very unproven facts. Many of the companies that are coming forward and purporting to be disruptors, these are Silicon Valley darlings that have a great amount of rhythm and they have lots of growth opportunities from them, but they haven't actually demonstrated the hardest thing, which is the distribution and the ability to sell into enterprise. And that is much tougher and takes much more time to figure out.
Julie Beal there from Kane Anderson Rudnick. Now, at the same time, the Fed is trying to assess the impact of AI on the American economy and productivity growth. Here is the head of the San Francisco Fed, Mary Daly.
What is the significance of the $36 billion investment from Japan to the US?
So what we're looking for is a technology to give us consistently good changes in productivity so that all industries at scale get better. Industries figure out new ways to generate revenue, new ways to do product design, new ideas to come and shape the economy. That's the thing that has a sustained productivity growth part. So it's undeniable productivity growth has gone up. What's not as clear is how long will that last.
That is San Francisco Fed Bank President Mary Daly speaking at San Jose State University. Meta Platforms has agreed to deploy millions of NVIDIA processors over the next few years. And for the first time, Meta is planning to rely on NVIDIA's GRACE central processing units.
How is the Federal Reserve assessing AI's impact on the economy?
We're getting some details on the investments Japan will be making in the U.S. Today, President Trump announced the first tranche worth $36 billion. Now, this funding is part of the trade agreement between the U.S. and Japan. And as a part of that deal, Japan committed a total of $550 billion for investments in the United States. Today's announcement covers a gas power plant in Ohio, as well as a critical mineral site in Georgia and a liquefied natural gas facility in Texas. Now, the implementation is likely to be a top agenda item when President Trump and Japanese Prime Minister Takeuchi meet in Washington on March 19th. Crude oil prices declined today. That was after the U.S. and Iran made progress in nuclear talks in Geneva.
Tehran's negotiators are scheduled to return with a new proposal in two weeks.
What are the implications of Meta's investment in NVIDIA processors?
Now, that may suggest reduced chances of any imminent military clash. Here is Evelyn Farkas, executive director at the McCain Institute.
I don't think that I would put too much stock in it in the sense that when President Trump has two carriers off the coast or within striking range of Iran, it usually means he's going to use force just based on past recent experience a la Venezuela. So I think that President Trump is pretty...
much leaning towards using force the iranians don't want him to lose you know to to use force so of course they've agreed to some kind of framework that is evelyn farkas from the mccain institute today in new york trading wti crude oil was down nearly one percent to 62 33
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:38
2
What disruptive power does artificial intelligence hold in the market?
0:38–1:14
3
How are software stocks reacting to AI advancements?
1:14–2:08
4
What is the significance of the $36 billion investment from Japan to the US?
2:08–2:54
5
How is the Federal Reserve assessing AI's impact on the economy?
2:54–3:45
6
What are the implications of Meta's investment in NVIDIA processors?
3:45–5:18
7
What are the latest developments in US-Iran nuclear talks?
5:18–6:33
8
How is New York City addressing its budget crisis?
6:33–8:07
Speakers
8 identifiedMore from Bloomberg News Now
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