Show Notes
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
-Matthew Bloxham, Bloomberg Intelligence Senior Media and Tech Analyst, discusses Apple planning to make its push into the smart-home market on Oct. 13, with a smart-home hub code-named J490 at the center of the strategy. The company also plans to announce the first update to the HomePod mini since its 2020 debut and its first new TV set-top box since 2022, which will serve as a showcase for Apple's new Siri AI assistant.
-Ed Ludlow, Bloomberg Tech Anchor, discusses his interview with OpenAI's CEO Sam Altman. Altman said the company wants to navigate a period of heightened artificial intelligence safety concerns without the pressure of being a newly public company. He said the company is "adjusting" to a "new level" of AI capability and the added safety requirements that coincide with it. OpenAI is holding discussions about a new funding round to raise at least $30 billion from investors at a valuation of around $1.4 trillion.
-Stephen Flynn, Bloomberg Intelligence Senior Credit Analyst, discusses the latest at Paramount-Skydance. Paramount Skydance Corp. is selling debt to fund its Warner Bros. Discovery buyout, but delays have increased the cost of borrowing due to growing fears about global inflation. The company will have more than $87 billion of investment-grade and high-yield debt after the buyout and needs to generate enough earnings and cost savings to pay down its obligations.
-Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion Contributor, discusses his column: “We Are In an Era of Warped Entrepreneurship.” A New York Times investigation found that DraftKings Inc. built a machine-learning model that scored customers by how much they would lose for each free bet or bonus they received. The model raised concerns that the company was targeting problem gamblers, with a data analyst saying "the best investment would be a problem gambler" due to financial logic. See omnystudio.com/listener for privacy information.
More from Bloomberg Intelligence
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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.
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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.
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