Show Notes
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, Meta Platforms is finally seeing the stock breakout that beleaguered bulls had been banking on. The Facebook parent’s shares had jumped 36% in September through Thursday’s close following the release of its Muse personal AI assistant, which has risen quickly to the top of app charts and muffled concerns that heavy spending on AI won’t pay off. The stock is on pace for its best month since July 2013 and within striking distance of joining an elite group of companies worth at least $2 trillion. Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, Anthropic PBC has signed an $11.6 billion, seven-year contract with Akamai Technologies Inc. for computing power, adding to the AI developer’s growing list of data center deals. Michael Mackenzie, Bloomberg Rates Reporter, As yields on US Treasuries soar past one high after the next, a reality is sinking in deeper across Wall Street and Washington: More than merely a bond-market slump, this might just be a fundamental shift. See omnystudio.com/listener for privacy information.
More from Bloomberg Intelligence
Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.
Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.
Meta Platforms boosted its capital spending outlook and announced plans for a new class of nonvoting stock, escalating its already-stratospheric bet on artificial intelligence. Capital expenditures will be $135 billion to $145 billion in 2026, the social-media giant said during its quarterly earnings report Wednesday, raising the bottom end of the range from $130 billion. The moves show that Meta has confidence that its spending on artificial intelligence will bear fruit. Chief Executive Officer Mark Zuckerberg has struggled to persuade investors to accept the company’s ballooning expenses for ambitious AI bets. But in recent months, Meta has made headway with its technology. Meta shares rose in after-hours trading on Wednesday. They had gained about 6% this year through the close in New York. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with Ed Ludlow, Bloomberg Tech co-host. See omnystudio.com/listener for privacy information.
Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.
SpaceX exceeded estimates for quarterly revenue and profit, driven by substantial growth in its artificial intelligence and satellite internet businesses. Elon Musk’s satellite, rocket and AI conglomerate posted $4.4 billion in net income for the quarter ended in September, far better than analysts’ average projection of $1.88 billion. Revenue increased 161% from a year ago and also beat expectations. SpaceX shares rose in New York after the close of regular trading. For instant reaction and analysis, Bloomberg Businessweek Daily guest hosts Norah Mulinda and Alexis Christoforous speak with: Ed Ludlow, Bloomberg Tech co-host George Ferguson, Bloomberg Intelligence Global Head of Aerospace, Defense & Airline Analysis See omnystudio.com/listener for privacy information.