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 Karen Moscow. $650 billion, that is how much four of the biggest U.S. technology companies are planning to spend on capital expenditure this year. The money is earmarked for new data centers and the long list of equipment needed to make them tick.
That's raising questions once again for investors about whether the payoff will catch up with all that investment. We get more with Bloomberg's Parmi Olson, tech columnist for Bloomberg Opinion.
What really intrigues me about this is this kind of almost an identity shift for these companies. Because if you think about why they're so valuable in the first place, it's that they're asset light, right? Like they have a lot of staff and they maybe have some data centers, but then they build this incredibly valuable software and they have incredible margins.
Now they're becoming these kind of capital intensive infrastructure operators. They're almost like telecoms now with all this CapEx spending. So it does feel like this is a gradual shift and we're seeing it continue to happen. And there's definitely going to be some kind of questioning in the market about whether they deserve these premium valuations when they are spending quite so much.
And as Bloomberg's Parmi Olson, Amazon shares dropped after the company yesterday announced it plans to spend $200 billion this year on data centers, chips and other equipment. Amazon shares down about 7.5% this morning. Meanwhile, dip buyers are driving a rebound in U.S. stocks, betting that the three-day sell-off led by technology was overdone.
Bitcoin bounced more than 5% after sliding to the lowest level since October 2024. Currently, S&P futures are up six-tenths of a percent. Dow futures up about the same. Nasdaq futures up eight-tenths of a percent. The 10-year Treasury yield at 4.2 percent. And taking a look at Bitcoin this morning at $67,000. That's up more than 6 percent. The U.S.
and Iran held indirect talks today in a bid to dial down tensions that have threatened to spiral into war. Bloomberg's Kasia Klimaczynska is following from Washington.
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Chapter 2: How much are major tech companies planning to spend on capital expenditures this year?
I'm on the map. with the U.S. delegation led by Steve Witkoff, and then separately with representatives from Iran. But Iran also said before those talks even started that it won't be a major step, that those will be just some sort of broad talks.
And Bloomberg's Kasia Klimacinska reports President Trump has threatened to strike Iran if it does not reach a deal on its nuclear program. The U.S. warned its citizens in Iran today to leave or stockpile food and water if they can't. Russian authorities say a deputy chief of its military intelligence agency has been shot and wounded.
Officials say Lieutenant General Vladimir Alexeyev was hospitalized after being attacked today by an unidentified assailant at an apartment building in Moscow. An investigative committee spokesperson did not say who might be behind the attack. Alexeyev has served as the first deputy head of Russia's military intelligence since 2011.
President Trump is looking to address affordability concerns here at home with the launch of a new prescription drug discount site. And Bloomberg Government's Maeve Sheehy has more on TrumpRx.gov.
This is something that we've heard the Trump administration kind of toy with and talk about for a little while. If you go to this website, they have more than 40 medicines available. These include major weight loss drugs like Ozempic and Wagovi, and they're available for just anyone.
cut prices basically and that's when our government's maeve sheehy reporting from washington the search continues in arizona for 84 year old nancy guthrie the mother of today's show host savannah guthrie was last seen last weekend police believe she may have been abducted from her home in pima county early sunday morning sheriff chris nanos was asked about the lack of any surveillance video in the area he says the properties there are spread out
You have a large piece of property that homes are on acreage, so they're quite a distance from the street. And their neighbors are even further away. And even on top of that, you add in this thick brush of desert vegetation.
Meanwhile, family members have been making pleas to the supposed kidnappers, asking for proof that their mother is still alive. JPMorgan Chase, Goldman Sachs, and Bank of America boosting their bonus pools for bankers and traders by at least 10%. This is the businesses benefited from a banner year in dealmaking and market activity.
Executives began communicating the compensation decisions to middle managers in recent weeks, as is common this time of year.
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Chapter 3: What identity shift are tech companies experiencing with increased capital spending?
Stellantis shares are dropping after the Jeep and Fiat owner said it is taking more than $26 billion in charges as it pivots away from electric vehicles. Craig Trudell is Bloomberg's Global Autos editor.
At Stellantis, under the new CEO who's been in place for a good while now, but also his predecessor, Carlos Tavares, it has been difficult for them. They've had to answer to two very different administrations in the U.S. who had diametrically opposed views on the future of the auto industry. That's really difficult to run a business around.
And that's Bloomberg's Craig Trudell, who says Stellantis' EV write-down is much bigger than others have reported recently, like Ford, General Motors and Porsche. Carlyle Group exceeded the goals that Chief Executive Harvey Schwartz has set for fee-related earnings and asset growth in 2025. while posting fourth quarter results that surpassed Wall Street estimates.
Biogen forecast 2026 profit that beat Wall Street expectations, signaling that steep cost-cutting measures are cushioning the impact of shrinking sales from its multiple sclerosis franchise. And again, dip buyers are driving a rebound in U.S. stocks, betting that the three-day sell-off led by tech shares was overdone, with S&P futures up six-tenths of a percent now.
That's news when you want it with Bloomberg News Now. I'm Karen Moscow, 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.
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