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So, what will Rachel Reeves' pivotal new budget mean for you? Has an innovative think tank just come up with a solution for replacing stamp duty? Hello, I'm Steph McGovern. And I'm Robert Peston. And we wanted to recommend you our podcast, The Rest Is Money, where we answer questions like these to try and make sense of the UK's economy.
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This is Bloomberg Tech. Coming up, Amazon's cloud unit signs a $38 billion deal to supply open AI with computing power. Plus how Xiaomi's pivot from smartphones to electric vehicles may have come at a human cost. And all eyes on Palantir posting its earnings results after the closing bell. This is defense tech spending is ramping up. But first, we check in on the markets also ramping up.
Not quite at a record high for the Nasdaq 100, but we are up some four tenths of a percent for the big tech benchmark as we focus in once again on earnings and the never ending desire for AI compute. Let's go there because the key points drivers on this particular benchmark are two stocks we shine a light on. Amazon. Pushing on 4.5% higher after significant gains on Friday after its earnings.
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