Show Notes
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
- Kevin Crowley, Bloomberg Senior Oil Reporter, discusses Chevron planning to invest $7 billion over the next five years to more than double crude production in Venezuela through its joint venture partnerships. The company won the right to develop two giant oil fields in the Carabobo area of the Orinoco Belt, which are located next to Chevron’s Petroindependencia joint venture.
-Lee Klaskow, Bloomberg Intelligence Senior Transport, Logistics and Shipping Analyst, discusses the impact of oil prices and geopolitics on the transportation industry.
-Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses Uber job cuts and Nvidia. Uber Technologies Inc. is cutting about 3,300 roles, or 10% of its staff globally, in a restructuring aimed at reducing management layers and reallocating spending into its ride-sharing, delivery and robotaxi businesses. Separately, Nvidia Corp. is in advanced talks to acquire artificial intelligence startup Hugging Face in a transaction that may total about $14 billion, according to people familiar with the matter.
-Woo Jin Ho, Bloomberg Intelligence Senior Hardware and Networking Analyst, recaps Dell earnings. Dell Technologies Inc. shares jumped after the company boosted its annual sales forecast by $25 billion due to surging demand for servers to run artificial intelligence tasks. Revenue in the fiscal year ending in January 2027 will be about $192 billion, including $74 billion from the sale of AI servers, which is up from an outlook in May of about $167 billion. The AI server forecast represents a threefold increase over the prior year, and the company has booked more than $130 billion in AI server orders over the past 12 months.
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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.