Chapter 1: What advantages does the UK offer as a business hub?
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 Doug Krisner. Alphabet is going global to finance its ambitions on artificial intelligence. The company is raising $20 billion from a U.S. dollar bond offering. This was more than five times oversubscribed. Alphabet is also pitching what would be the first ever offerings in Switzerland and the U.K. Here is Bloomberg's Caroline Hyde.
They're tapping the Swiss market and the sterling market. In fact, they're looking to sell a really rare 100-year sterling bond as well. So Alphabet is out there across every type of part of the debt market.
That is Bloomberg's Caroline Hyde. Now, the four largest U.S. tech companies are planning to spend a total of $650 billion this year on building out AI infrastructure. In the stock market today, there was a recovery in software shares that helped to lead the S&P 500 up one half of one percent to just below a record high.
Now, last week, the spotlight was on how AI has the potential to undermine various software businesses. and many of those shares were punished. However, last Friday, the mood seemed to shift, and the IGV software ETF advanced by 3.5%. Today, IGV rose more than 3%. Stuart Kaiser is head of U.S. equity trading strategy at Citigroup Global Markets.
What happened last week is the moves accelerated and it got quite volatile. And I think that impacted the way that folks managed risk. And it's also, to be honest with you, a pretty simple math question, right? You know, if you take the MAG7 plus Broadcom and a few others, you pretty quickly get close to about 50% of S&P market cap.
So when you're selling those stocks, you have to find a home for them.
That is Stuart Kaiser from Citigroup Global Markets. Bitcoin traded on either side of 70,000 today after a rollercoaster ride at the end of last week.
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Chapter 2: How is Alphabet financing its ambitions in artificial intelligence?
Today, Fed Governor Chris Waller said the initial optimism that lifted crypto markets after President Trump was elected may now be fading.
these kind of ups and downs in the crypto world have become so common they actually have a name for them winters right so when you start saying something's a season you know it's going to be a regular phenomenon that's part of the game you get in you make some money you might lose some money that's that's the nature of the beast in a lot of these things waller was speaking at an event at the global independence center now he went on to say the recent volatility in crypto could be also driven by regulatory uncertainty and risk management moves
On Capitol Hill, Ghislaine Maxwell had a virtual deposition today with a House Oversight Committee. The fallout from the release of files related to Jeffrey Epstein is spreading overseas. British Prime Minister Keir Starmer is facing a call to resign. This is after Starmer appointed Peter Mandelson as ambassador to Washington. Now, Mandelson had known ties to Epstein.
It was over the weekend that Starmer's chief of staff, Morgan McSweeney, quit, saying he took full responsibility for recommending Mandelson as U.S. envoy. But today, a number of Starmer's cabinet members voiced support for their prime minister.
Meantime, Buckingham Palace says King Charles III will support UK police in assessing reports that former Prince Andrew gave confidential information to Epstein.
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Chapter 3: What is the significance of Alphabet's bond offerings in Switzerland and the UK?
The statement came after police said they were examining reports that the former prince sent trade reports to Epstein back in 2010. Novo Nordisk is suing Hims and Hers Health for making knockoffs of Novo's obesity medicines, even though Hims already scrapped plans to sell a copycat version of Novo's Wagovi pill. Here is Bloomberg's Madison Muller.
Novo is suing on the grounds of patent infringement, which is something we haven't seen before. Novo and Lilly have both filed lawsuits against compounding pharmacies, telehealth companies, med spas that are selling these knockoff versions of the drugs, but they haven't gone after anyone for patent infringement yet.
So this is actually the drug semaglutide, which is the active ingredient in both Ozempic and Wagovi. Novo is saying that HIMS is violating that patent in the United States.
That is Bloomberg's Madison Muller. We go to Arizona next, where the search into the disappearance of Today Show co-host Savannah Guthrie's mother, Nancy, has entered the second week. Authorities are investigating the apparent kidnapping with a ransom deadline set, demanding money for her return. Savannah Guthrie released a video saying her family is at an hour of desperation.
We believe our mom is still out there. We need your help. Law enforcement is working hard. tirelessly, around the clock, trying to bring her home, trying to find her. She was taken and we don't know where. And we need your help.
Now investigators believe Nancy Guthrie was taken against her will from her home. There is now growing concern about her health due to her need for a daily medication and pre-existing medical conditions. And that is news when you want it. With Bloomberg News Now, I'm Doug Krisner and this is Bloomberg.
As a place to do business, the UK stands apart.
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Chapter 4: How are the largest U.S. tech companies investing in AI infrastructure?
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.
Chapter 5: What recent trends are emerging in the software stock market?
Visit business.gov.uk slash growth.
I'm Barry Ritholtz, inviting you to join me for the Masters in Business podcast. Every week, we bring you fascinating conversations with the people who shape markets, investing, and business. CEOs, fund managers, billionaires, Nobel laureates, traders, analysts, economists, everybody that affects what's going on in the market, whether you own stocks, bonds, real estate, commodities, crypto,
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