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Bloomberg Tech

Meta to Deploy Homegrown Chips, Uber to Offer Zoox Rides

11 Mar 2026

Transcription

Chapter 1: What is the main topic discussed in this episode?

0.031 - 25.661 Karen Moscow

Adobe is turning AI promise into marketing reality. A reality where personalization feels more human, automation feels authentic, and customers feel more connected to your brand. From AI frenzy to ROI, it starts with Adobe. Bloomberg Daybreak is your best way to get informed first thing in the morning, right in your podcast feed. Hi, I'm Karen Moscow.

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25.841 - 31.87 Ed Ludlow

And I'm Nathan Hager. Each morning, we're up early putting together the latest episode of Bloomberg Daybreak U.S.

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31.89 - 32.25 Karen Moscow

Edition.

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32.571 - 39.1 Ed Ludlow

It's your daily 15-minute podcast on the latest in global news, politics, and international relations.

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39.08 - 45.568 Unknown

Listen to the Bloomberg Daybreak U.S. edition podcast each morning for the stories that matter with the context you need.

45.629 - 49.113 Karen Moscow

Find us on Apple, Spotify or anywhere you listen.

52.317 - 59.046 Unknown

People who didn't do what John of God wanted them to do, they usually disappeared.

59.735 - 64.322 Karen Moscow

John of God was once Brazil's most famous spiritual healer.

64.762 - 83.97 Riley Griffin

But in this limited series podcast, we uncover the darker truth behind his global empire of faith and fear. From Exactly Right and Adonde Media, this is Two-Faced, John of God. Listen on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

Chapter 2: What are Oracle's strong sales and outlook for AI computing?

463.648 - 481.932 Matthew Weir

Investors, unfortunately, tend to move in mass, especially when pessimism takes over. We think this time is no different. Reality is probably somewhere in between what we've seen in terms of the status quo and the existential concerns that investors have. We think of this more as an evolution of the sector.

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481.952 - 495.872 Matthew Weir

There's certainly a competitive risk, but we certainly don't think that this is an existential one where there's so much focus on the terminal value. We think these are absolutely very competitive companies that will continue to evolve over time.

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496.223 - 499.229 Karen Moscow

There was a lot of anxiety in the market initially about software.

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Chapter 3: How is Meta planning to enhance its AI capabilities with in-house chips?

499.249 - 514.62 Karen Moscow

And then, look, there was the geopolitical risk that we're now combating day in, day out for a 12-state straight day over with the Middle East and conflict with Iran. Matthew, does that change in any way your perspective on investing into this moment in where you are in the market?

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515.275 - 536.946 Matthew Weir

Yeah, we're very focused on Iran. It's terrible from a humanity standpoint. I think, though, we would focus, though, on from an investment standpoint that this resembles what typically happens when there's a geopolitical shock. Over the near term, there is a reaction by financial markets. What we've seen historically and specifically, we've looked at the last 40 years.

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536.926 - 543.518 Matthew Weir

There are 21 airstrikes in terms of the U.S. in the Middle East, and we do see some patterns emerge.

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Chapter 4: What partnership is Uber forming with Zoox for robotaxi services?

543.598 - 568.918 Matthew Weir

The first is that the initial reaction in markets is that risky assets like equities initially sell off. But then we see the dollar appreciate. We see oil rise. We see bond prices rise. But after about eight weeks, fundamentals, whether economic or corporate fundamentals, reassert themselves. And the prior trend in financial markets resumes such that after eight weeks, 95% of the time, U.S.

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568.938 - 593.166 Matthew Weir

equities are actually above their pre-strike levels by an average of about 4%. So as a consequence, we haven't changed our views. We have a key investment tenant at Goldman Sachs that history is a useful guide. The words, this time is different, we think are very dangerous. We think that history will repeat itself here and eventually markets will resume their forechance.

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593.186 - 615.82 Karen Moscow

Every day trying to understand the long-term impact of AI on inflation and labor markets. And I know the Goldman House call is that AI may displace a million jobs a year. Correct. But there is also job creation happening in parallel. Just what you said about how one might approach that as an investor. From your desk and your perspective, what happens in the short, medium, and long terms?

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615.8 - 635.366 Matthew Weir

So we think technological innovation is a feature and not a bug of the U.S. equity market and the U.S. economy. The U.S. economy is by far the most innovative globally. It's a key reason that we recommend our clients be strategically overweight U.S. assets. Now, certainly AI is going to boost productivity. And unfortunately, it is going to displace workers.

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635.406 - 657.207 Matthew Weir

But as you mentioned, Ed, there's a tremendous amount of new job creation each year. Bear with me. Some numbers here. Sure. There are 170 million jobs in the U.S., Each year there are about 25 to 30 million jobs either lost or destroyed. But on the other side of that, and this is creative destruction, new jobs are created and there are more new jobs created than jobs destroyed.

657.227 - 677.931 Matthew Weir

So as we put that one million number into context, We think that a lot, if not all of those jobs lost to AI, will be replaced by new jobs. Think about the investment we've seen so far, whether it's the construction of data centers, think about rising financial market prices, that's increased net worth, and it's increased consumer consumption.

678.512 - 687.42 Matthew Weir

And so as we think about the net impact longer term, we're bullish, and we think that this is something that will be additive, even though over the short term there will be some tough adjustments.

Chapter 5: What challenges does Oracle face in managing cash and execution risk?

687.653 - 709.819 Karen Moscow

Matthew Weir of Goldman Sachs. Great to have your expertise today. Thanks for coming in. Meanwhile, our next meta plans to deploy homegrown chips to handle AI workloads. I'll have the details next. This is Bloomberg Tech. Effective marketing is smarter, not louder.

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710.259 - 714.684 Riley Griffin

Cutting-edge technology alone won't deliver better experiences or outcomes.

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715.204 - 724.334 Karen Moscow

Adobe helps marketers use data and AI to drive smarter engagement, reduce noise, and use AI effectively and responsibly.

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724.914 - 732.342 Riley Griffin

The brands winning in the AI era aren't the ones chasing every trend. They're the ones with the right systems and strategy.

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732.322 - 753.235 Karen Moscow

It's time to lead with insight, agility and innovation. It starts with Adobe. Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made. And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast. We're up early every weekday, keeping an eye on what's happening across Europe and around the world.

753.655 - 775.69 Karen Moscow

We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going. From Brussels, I'm following the politics, policy and the people shaping the European Union right now. And from London, I'm looking at what all that means for markets, money and the wider economy. We've got reporters across Europe and around the globe feeding in as stories break.

776.151 - 780.817 Karen Moscow

So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.

Chapter 6: How does AI demand influence Oracle's market performance?

781.238 - 783.26 Karen Moscow

It's smart, calm and to the point.

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783.701 - 785.143 Unknown

And it fits into your morning.

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785.208 - 796.18 Karen Moscow

You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris on Apple, Spotify, YouTube or wherever you get your podcasts.

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799.214 - 811.049 Riley Griffin

For decades, people traveled across the world to see John of God, desperate for cures no doctor could offer. And when they arrived, they saw things they couldn't explain.

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811.85 - 820.1 Unknown

This is real. This guy's actually doing surgery, and it's a miracle. I never believed that miracles were real until that point.

820.12 - 837.091 Riley Griffin

But behind those adoring crowds was something much darker. One of the reasons why I never went to the police is because I saw at least five or six men with guns everywhere he went. That was clear to me, like, close your mouth, don't open your mouth, don't say anything. I'm your host, Martina Castro.

837.392 - 857.892 Riley Griffin

And in the podcast Two-Faced, John of God, we'll look back on a man who claimed he could perform miracles and got people from all around the world to believe him. From Exactly Right and Adonde Media, this is Two-Faced, John of God. Listen on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

865.82 - 876.793 Karen Moscow

This is Meta's chip lab in Fremont, California. Inside, the company is developing the next generations of MTIA, short for Meta Training and Inference Accelerator, its in-house AI chip program.

876.973 - 896.516 Karen Moscow

It's a long-term effort to build the most efficient architecture for Meta's internal workloads, with four new generations of chips planned over the next two years, from ranking and recommendations to large-scale gen AI inference. When chips come in from the fab, this is where they're validated. tested at the chip, rack, and workload level before deployment into Meta's data centers.

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