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.
And I'm Karen Moscow.
Karen, the market continues to react to big tech earnings we got after the closing bell. This morning, shares of Meta Platforms are surging 7.5%. The Facebook owner topped projections for holiday quarter revenue and gave a strong forecast for the current period. That's offsetting concerns about plans for unprecedented spending on artificial intelligence this year.
Here's Meta CEO Mark Zuckerberg on the earnings conference call.
Now be accomplished by a single, very talented person.
Mark Zuckerberg says Meta plans to spend as much as $135 billion this year on AI.
Meanwhile, Nathan, at Microsoft, spending surged to a record high while cloud sales growth slowed. That has shares of Microsoft down more than 6% this morning. Capital expenditures for the fiscal second quarter hit $37.5 billion. That's up 66% from a year ago. And here's CEO Satya Nadella on the company conference call.
We are in the beginning phases of AI diffusion and its broad GDP impact. Our TAM will grow substantially across every layer of the tech stack as this diffusion accelerates and spreads. In fact, even in these early innings, we have built an AI business that is larger than some of our biggest franchises that took decades to build.
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Chapter 2: What are the latest big tech earnings and their impact on the market?
And I'm looking forward to a favorable decision. I think that H200 is very good for America technology leadership. It's also very good for the Chinese market.
That was NVIDIA CEO Jensen Wang. Chinese officials recently told the country's largest tech firms, including Alibaba, they can prepare orders for H200 chips. Suggests Beijing is close to formally approving imports of components essential to powering artificial intelligence.
Nathan, big tech earnings continued this afternoon, and that's when Apple reports its latest quarterly results. We get a preview with Bloomberg's Tom Busby.
Apple is poised to deliver its biggest sales quarter ever, thanks in large part to expected blowout sales of its iPhone 17 lineup, especially for the higher-end models. But investors are still concerned about rising costs for components, especially memory chips. and what sales look like in China, which declined just three months ago.
Bloomberg Consensus calls for revenue to jump 11% higher to $138.4 billion, the biggest quarterly growth in four years on earnings per share of $2.68. Tom Busby, Bloomberg Radio.
Okay, Tom, thank you. Now let's turn from the markets to get you to the latest from Minneapolis, the new man in charge of immigration enforcement in the city, Tom Holman. is set to hold a news conference later this morning. President Trump sent his border czar to replace Border Patrol Commander Greg Bovino in a bid to cool the uproar over the shooting deaths of two U.S.
citizens by federal agents. The two officers involved in Alex Preddy's killing have been placed on administrative leave. Meanwhile, President Trump is warning Minneapolis Mayor Jacob Fry he is, quote, playing with fire for saying he won't change his city's immigration policies.
And Minnesota Democrat Ilhan Omar held another town hall last night after a man charged at her with a liquid during an event earlier this week.
I wouldn't be where I am at today having to pay for security, having the government to think about providing me security if Donald Trump wasn't in office and if he wasn't so obsessed with me.
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Chapter 3: How much is Meta planning to invest in AI this year?
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.