VW Plans 50K Global Job Cuts, Nvidia to Acquire Hugging Face, More
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What is Volkswagen’s latest restructuring plan and how many jobs are being cut globally?
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News when you want it with Bloomberg News Now. I'm Amy Morris. This just crossing the Bloomberg terminal. Volkswagen's turnaround plan includes fifty thousand global job cuts. That brings the total job cuts at Volkswagen now to one hundred thousand. NVIDIA has agreed to acquire AI startup Hugging Face in a deal worth thirteen billion dollars. Bloomberg Tech host Ed Ludlow says NVIDIA agreed to keep Hugging Face's platform open and consistent with its existing practices.
How will NVIDIA’s acquisition of Hugging Face impact the openness of AI models?
The specifics are that, you know, NVIDIA and Jensen Wang are committing to uh Hugging Face, continuing to be Hugging Face, to be completely open. And there's even a part within the agreement that Jensen Wang stressed in all of his communications that if you are a user of Hugging Face, you can use any model, any cloud, any inference provider. It does not have to be based on NVIDIA compute.
Bloomberg's at Ludlow. Hugging Face co founder Thomas Wolf tells Bloomberg they looked at their strategy for the future and they approached NVIDIA.
On the one hand, open source was having a huge moment. And also when we were attacked, you remember earlier this summer, we realized that open source was actually critical for safety and critical for many aspects. And we thought, okay, we have a few choice here, either we we raise more money and we we double down, or we find someone who share our value, share our mission very deeply and and we partner with them.
Hugging face co-founder Thomas Wolfe on Bloomberg TV, Nvidia shares now more than two percent higher. OpenAI is releasing a new generation of its technology called GPT-6 that the company is positioning as a key milestone in its decade-long push to build so-called artificial general intelligence. The startup has rolled out GPT-6 Astra to business users in its Daybreak program and plans to release a version of the U.S.
What did Hugging Face co‑founder Thomas Wolf say about the strategic reasons behind the deal with NVIDIA?
version of the AI model with added cybersecurity guardrails to its paid chat GPT users. Snowflake shares nineteen percent higher after the company raised its sales outlook and touted rapid adoption of its AI assisted coding tool, CEO Sridhar Ramaswamy.
We are leveraging AI to do the kinds of things that we honestly would not have imagined possible three years ago. I'm very happy with where we are headed. Snowflake is becoming a lot more than a tech provider that's largely invisible. We are able to drive real outcomes for our customers.
Product revenue in the year ending in January will be about six billion dollars for Snowflake. That beats analyst average projections.
The economy hasn't changed a whole lot, but uh this is the second in so many days uh Fed official to say that if we get a bad inflation number they're gonna vote for higher rates, Michael uh Michael Barr yesterday and now today, Chris Wallace.
Bloomberg's Michael McKee, and after Waller's remarks, rates traders are no longer pricing in a definite rate hike in the next two meetings, although they still regard it as more likely than not. U.S.
What are the key features of OpenAI’s new GPT‑6 release and its business‑focused Daybreak program?
mortgage rates did climb to six point seven one percent. That's the highest since July of last year.
NASDAQ up more than 1.5%, and the Dow up 1.1%, the 10-year Treasury yield at 4.76%, and the two-year yield at 4.33%. The U.S. and Iran have intensified tit-for-tat military strikes with Iran hitting merchant vessels and the U.S. striking Islamic Revolutionary Guard Corps sites. Retired Lieutenant General Karen Gibson says the economic stranglehold on Iran.
While some additional sanctions have been imposed, if China is the purchaser of some 80% of Iranian goods and we're not going after China, then we're really just nibbling around the edges of that remaining 20%.
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Chapters
6 chapters
1
What is Volkswagen’s latest restructuring plan and how many jobs are being cut globally?
0:00–0:54
2
How will NVIDIA’s acquisition of Hugging Face impact the openness of AI models?
0:54–2:13
3
What did Hugging Face co‑founder Thomas Wolf say about the strategic reasons behind the deal with NVIDIA?
2:13–3:32
4
What are the key features of OpenAI’s new GPT‑6 release and its business‑focused Daybreak program?
3:32–4:41
5
How is Snowflake’s AI‑assisted coding tool driving revenue growth and what are the latest financial results?
4:41–5:40
6
What are the latest developments in U.S.‑Iran tensions, election‑mail rulings, and their broader economic implications?
5:40–6:48
Speakers
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