August 28, 2025 • 16 mins
On today's podcast:
1) Nvidia shares drop after the chip giant signals a slowdown in A-I spending. Meanwhile, markets shrug off the Nvidia disappointment and trade near record highs. Stocks shook off an initial drag from Nvidia Corp.’s sales outlook missing lofty expectations, indicating that momentum behind the record-breaking rally remains intact. The yield on 30-year Treasuries fell four basis points to 4.89% as pressure on long-dated debt eased, and European bonds staged a broad advance.
2) US companies plan to buy back shares at a historic pace, a sign of Corporate America’s confidence in the economy. Announced buybacks surpassed $1 trillion on Aug. 20, marking the shortest amount of time needed to reach that level, according to data compiled by Birinyi Associates.
3) The head of the CDC is fired in a dispute over Robert F. Kennedy Jr.'s vaccine policy. The Trump administration fired CDC Director Susan Monarez just weeks into her tenure, and at least three senior CDC leaders, including Demetre Daskalakis, Deb Houry, and Dan Jernigan, told coworkers they were resigning, citing reasons such as the "weaponizing of public health." The removal of Monarez and the resignations of senior leaders have intensified concerns about scientific integrity at the public health agency and underscore the growing distrust between many longtime agency scientists and Secretary Kennedy.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we begin with earnings from one of the Magnificent seven.
N Video, the world's most valuable company, gave a tippet
revenue forecast for the current period. It's a signal that
growth is decelerating after a staggering two year boom in
artificial intelligence spending. The chip maker says it expects sales
to be roughly fifty four billion dollars in the third quarter.
That was in line with the average Wall Street estimate,
(00:38):
but some analysts were projecting more than sixty billion. Matt
Bryson is managing director of equity research at Whitebush Securities.
Speaker 4 (00:45):
That's something I think about here is that Nvidia almost
always leaves her. Over the last few years, they've left
something on the table, and that that's something has consistently been,
you know, two three billion. So when the guye to
fifty four billion, well, what it seems like they've been
telling the street is more like they can do fifty
six to fifty seven billion. I don't think anyone's going
(01:07):
to be disappointed if at the end of Q three
they're coming in at those type of numbers.
Speaker 3 (01:12):
Matt Bryce in a Webbush Securities has a two hundred
and ten dollars price target on in Video. Right now,
the stock is trading at one hundred and seventy eight.
Speaker 2 (01:18):
Dollars Nathan and Vidia says that Trump Administration's planned a
charge a fifteen percent commission on its AI ships sales
to China has not progressed beyond the early stages and
could pose legal risks. The company said it excluded as
much as five billion dollars in possible China sales from
its projection because it can't be sure whether geopolitical tensions
(01:40):
will allow it to fill orders and while in Video,
CEO Jensen Wong says they're still pushing to bring their
most advanced AI chips to the Chinese market.
Speaker 5 (01:49):
So I think, you know, the opportunity for us to
bring Blackwell to the China market is a real possibility,
and so we just have to keep advocating the the
sensibility of and the importance of American tech companies to
be able to lead and win the AI race.
Speaker 2 (02:09):
Nvidia CEO Jensen Wong ended his conference call by saying, quote,
opportunity ahead is immense, and a new industrial revolution has
started and the AI race is on well.
Speaker 3 (02:20):
Turning to the broader market now, Karen. Despite the Nvidia
pullback and uncertainty over the future of Federal Reserve Governor
Lisa Cook, stocks are trading near record.
Speaker 6 (02:29):
Highs this morning.
Speaker 3 (02:31):
Amanda Agatti of pn C Bank explains why markets have
been discounting the Trump Cook saga.
Speaker 7 (02:36):
I think the equity market is really largely ignoring it.
One because it's starting to get conditioned to a lot
of this purple haze policy uncertainty, but two because I
think the bottom line is rate cuts are more likely
than not regardless of what ultimately happens with Cook, and
I think that is the most important thing for the
(02:56):
equity markets path forward.
Speaker 6 (02:58):
P and C Banks.
Speaker 3 (02:59):
Amanda Gotti says expectations for rate cut could get murky
if inflation surprises to the upside. The Fed's preferred read
on price pressures, the Core PCE index, comes out tomorrow.
Speaker 2 (03:10):
Nathan, US companies are plenty of buy back shares at
a historic pace, and we bring in Bloombergy's John Tucker
for the very latest.
Speaker 6 (03:17):
John, Good morning, and good morning, Karen.
Speaker 8 (03:19):
It's a sign of corporate America's confidence in the economy.
Announced buybacks surpassed a trillion dollars last week. That's a
record over the last few months. Corporate heavyweights, in particular
the financials and technology, they have given the greenlight to
large share repurchasing programs. Back in May, you'll recall Apple
announced to a buy back one hundred billion dollars in stock. Alphabet, JP, Morgan, Chase,
(03:42):
goldmund Sacks, Wells Fargo, and Bank of America have also
announced buybacks of at least forty billion dollars. And the
Lenni is just last night with the Nvidia announcing a
sixty billion dollar buy back. Berni associate says, earnings are good,
they have enough money for capital expenditures and this is
a nice way to reward investors.
Speaker 2 (04:01):
You know.
Speaker 8 (04:01):
Yr comes John Tucker, Bloomberg Radio.
Speaker 3 (04:03):
All right, John, Thanks, It's head to Europe now, where
French spiritsmaker Pronel Ricard's been updating sales in the week
of US tariffs. Bloomberg's Ewan Pots joins us from London
with the very latest Jewan.
Speaker 9 (04:14):
Nathan and Karen Perno Ricards shares one of the biggest
gainers in Europe. This morning, the company behind Absolute Vodka
and Jamison Irish Whisky has topped earnings expectations a forecast
i pick up in demand in the second half of
the year. On US tariffs, including the ten percent levy
on UK exports, Perno says the total impact on a
fullier basis will be thirty five million euros. The company
(04:37):
says it will partly mitigate the tariffs by some price
increases in selected markets. In London, I'm youwing pots, Bloomberg Radio.
Speaker 2 (04:44):
Are you in thanks to Japan's top trade negotiator is
visiting the US suppress for lower tariffs, and Bloomberg Amy
Morris has more from Washington.
Speaker 10 (04:53):
Japan's top trade negotiator, Riosi Agazzawa, will push for the
tariffs agreed to in July, including lower duties on cars
and auto parts. Japan wants those duties cut to fifteen
percent and to end the stacking of previous duties on
fifteen percent universal tariffs. Look for Akizawa to urge the
Trump administration to implement these changes as soon as possible,
(05:13):
but the US wants to see a promised five hundred
and fifty billion dollar investment mechanism up and running. Details
of how that fund will operate are still not known.
In Washington, Amy Moore as Bloomberg Radio, na me thank you.
Speaker 3 (05:24):
In speaking of Japan, Warren Buffett's increasing his bet on
the country. His Berkshire Hathaways raised its stakes in Japanese
trading houses Mitsubishi and Mitsui. Buffett first revealed stakes in
the trading houses in twenty twenty. Berkshire has holdings in
Japan's five biggest trading firms.
Speaker 2 (05:40):
Nathan the White House is ramping up pressure on India
over its purchases of Russian oil and a conversation with
Joe Matthew on Bloomberg's Balance of Power. White House trade
advisor Peter Navarro called Russia's conflict with Ukraine Mody's war.
Speaker 11 (05:54):
The road the piece runs at least partly right through
Newdella's were I mean Modi's war is because the road
to peace runs in part through New Delhi.
Speaker 6 (06:04):
I mean that's a lot of money.
Speaker 2 (06:06):
Right, I was. Trade advisor Peter Navarro spoke after the
US doubled tariffs on India's exports to fifty percent is
punishment for its Russian oil purchases. China remains the world's
largest Russian crewed buyer, but the White House has extended
a ninety day trade truce with Beijing.
Speaker 3 (06:22):
And Karen, there has been another major shakeup within the
Trump administration. The White House has fired Centers for Disease
Control Director Susan Monterez just weeks into her tenure. Her
attorneys say Health Secretary Robert F. Kennedy Junior is targeting
her because she refused to quote rubber Stamp unscientific reckless directives,
and now at least three senior CDC leaders say they
(06:43):
are resigning in protest. All this comes weeks after the
CDC was targeted in a shooting that killed a police officer.
Current and former Health and Human Services employees wrote an
open letter after that attack blaming Kennedy for spreading vaccine misinformation.
Speaker 2 (07:03):
Time now for a look at some of the other
stories making news in New York and around the world,
and for that we're joined by Bloombery's Michael Barr.
Speaker 6 (07:09):
Michael, Good Morning, Good morning, Karen.
Speaker 12 (07:10):
Vigials held last night for the victims of yesterday's horrific
mass shooting at a Minneapolis Catholic school, A shooter opened
fire during mass at the Annunciation Catholic School, killing two
children and injuring seventeen other people before dying by suicide.
Speaking at Glenhurst Park, Minneapolis Mayor Jacob Frey deplete it
(07:32):
with the people in attendance to speak up and call
for gun control.
Speaker 13 (07:37):
While thoughts and prayers are great, they are not adequate.
Speaker 7 (07:42):
These children were literally praying at this moment.
Speaker 12 (07:48):
Mayor Fry. The dead include an eight year old and
a ten year old child. Minnesota Governor Tim Walls, we.
Speaker 14 (07:55):
Often come to these and say these unspeakable tragedies or
there's no words for this. There shouldn't be words for
these types of instances because they should not happen.
Speaker 12 (08:06):
Minneapolis Chief of Police Brian O'Hara spoke about the shooter.
Speaker 15 (08:10):
The coward that shot these victims took his own life
in the rear of the church. That coward has been
identified as twenty three year old Robin Westman, no prior
criminal history.
Speaker 12 (08:22):
Minneapolis Police Chief Brian O'Hara says while they are searching
for a motive, the shooter is said to be a
former student. The injured children are between the ages of
six to fifteen. There were also three adult parishioners, all
in their eighties attending the mass that were also shot,
although the wounded are expected to survive. Authorities say a
(08:43):
mass Russian drone and missile attack on Ukraine's capital has
killed at least ten people and wounded forty eight. The
attack early today on Kiev was the first major Russian
combine combined attack on Kiev in weeks. The Immigration detention
center President Trump called Alligator Alcatraz will be closing up shop,
(09:04):
according to new details. Last week, a federal judge in
Miami ordered the center to wind down operations. Alligator Alcatraz,
located in the heart of the Florida Everglades, was rapidly built,
capable of holding up to three thousand detainees. The facility
has drawn public backlash over its location and living conditions.
(09:25):
Global News twenty four hours a day and whenever you
want it with Bloomberg News Now, Michael Barne, this is Bloomberg.
Speaker 2 (09:32):
Hevin Hey, Smichael time now for our Bloomberg Sports up dating,
Brown he Bringhi, John Staff.
Speaker 14 (09:38):
Shower, Thanks, Daron ywed Wider Cup down, and Keegan Bradley
filled out his roster for the upcoming Ryder Cup. At
Bethpage on Long Island. Did not pick himself to play
pick Justin Thomas, Colin, Morri Kama, Ben Griffin, Patrick Cantley,
Sam Burns, and Cam Young. Tommy Devido, the quarterback released
by the Giants the other day, has been claimed on
waivers by the Patriots. The Mets with a six stopping
(10:00):
shut out of Afhillies. The rookie Nolan MacLean pitched eight Indians.
He's the first Met pitcher to win its first three starts.
That's air Bloomberg Sports Update.
Speaker 2 (10:09):
Stay with us. More from Bloomberg day Break coming up
after this.
Speaker 1 (10:17):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 6 (10:28):
Good morning, I'm Nathan Hager.
Speaker 3 (10:29):
Well, wasn't the blowout quarter many investors have come to
expect from the world's most valuable company. Nvidia delivered a
more muted revenue forecast for the current quarter, raising some
concern perhaps that the breakneck growth we've seen in AI
spending maybe tapping the breaks. But in Vidio CEO Jensen
Wong is thinking longer term.
Speaker 13 (10:47):
Over the next five years, we're going to scale into
with Blackwell, with Rubin and follow ons to scale into
effectively a scree to four trillion dollar AI infrastructure opportunity.
Speaker 3 (11:01):
That was in Vidia CEO Jensen Wong at the conference
call last night. Joining us this morning, Dan Ives, Global
head of Technology Research at web Bush Securities.
Speaker 6 (11:10):
Dan, Good morning.
Speaker 3 (11:11):
I know we've talked before about expectations for AI spending
in the longer term, but when we hear three to
four trillion dollars in the next decade, is.
Speaker 6 (11:20):
Jensen Wong continuing to set the bar too high? Good morning? Yeah.
Speaker 16 (11:26):
I mean, look, I think it's these are jaw dropping numbers,
and the reality is there's no one that has a
better view of what's happened when it comes to AI
revolution than the godfather of AI, Jensen himself. And I
think this is just not just a bullish forecast. I
think it shows we are just early days in terms
of just what's really going to be a fourth Industrial Revolution.
Speaker 3 (11:49):
Now in terms of the current forecast, fifty four billion
dollars in sales in this quarter.
Speaker 6 (11:54):
That was in line with estimates.
Speaker 3 (11:57):
A lot of investors have been expecting that in Vidia
will continue to go above those inline estimates. Is fifty
four billion enough to keep the momentum going for this company?
Speaker 2 (12:10):
Yeah?
Speaker 16 (12:10):
Look, I think you have to also look at China
because this excludes any China revenue. When you think about
age twenty, that could be two to five billion, and
then you look at what could be really fifty percent
growth over the next year. I think that's really the
call here is that at first, yeah, you could say
it's conservative, but these are jaw dropping numbers when you
(12:34):
look at the growth and now China getting added back
to that. Given the green light that we're seeing from
the White House, Look, there's one chip in the world.
If you in the AI revolution, it's in Vidia.
Speaker 6 (12:45):
Is it really a green light? Though?
Speaker 3 (12:47):
I mean, we got the you know, the fifteen percent
revenue sharing agreement that the White House says it's imposed
on in Vidia. The company itself sort of raised some
questions about that. How green is that light for China penetration?
Speaker 16 (13:04):
Look to essentially pay for play model, right, and like,
obviously there is going to continue to sort of be
some noise around the situation, but the reality is that
China market is going to be reopened for in video
and in video wants, you know, not just a factor
into China, but they don't want to give on a
silver platter. Huawei twenty billion thirty billion a year and
(13:27):
I think the White House you've seen now the path
is there. So I think when you start the factor
in with China revenues combined with what the company's seeing,
massive demand that's really off the charts, and there's this
doctor is going to be green.
Speaker 6 (13:43):
Does China want in video?
Speaker 3 (13:45):
There's been a lot of uh motivation in the from
the Chinese government to grow its own AI accelerators and
concern raised about you know, they say that there could
be trackers on in video chips as well.
Speaker 6 (14:02):
Does China want in Nvidia?
Speaker 16 (14:05):
Look, there's going to be a back and forth, right,
this is a political you know, I obviously continued game
of chess being played between DC and Beijing. But the
reality is in Vidio chips are years ahead of any
other chip. So when you go to Chinese big tech companies,
that's chip they want. So it comes down that there
(14:27):
could be some political grand standing. But in Nvidia continues
to be the chip that Chinese players want, and I
think that look as is all plays out, it's just
going to continue to show that there's one chip fuel
in the AI revolution, whether in US or China, and
it's in video.
Speaker 3 (14:46):
Just got thirty seconds left, Dan, your colleague at Wedbush,
Matt Bryson's got a two hundred and ten dollars price target
on in Vidia. It's not there yet. Are you making
any changes to your price target after these earnings?
Speaker 16 (14:58):
No, Bryson av dark you ten. But we ultimately believe
this is a five trillion dollar markup as we go
into early twenty twenty six. I think you know it's
only second inning of a nine inning game in terms
of AI.
Speaker 2 (15:15):
This is Bloomberg day Break, your morning podcast on the
stories making news from Wall Street to Washington and beyond.
Speaker 3 (15:21):
Look for us on your podcast feed by six am
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Speaker 2 (15:28):
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Speaker 6 (15:42):
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Speaker 3 (15:43):
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Speaker 2 (15:48):
And don't forget to subscribe to Bloomberg News Now. It's
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Speaker 6 (16:01):
And I'm Nathan Hager.
Speaker 3 (16:02):
Join us again tomorrow morning for all the news you
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Speaker 6 (16:07):
Dabray
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we begin with earnings from one of the Magnificent seven.
N Video, the world's most valuable company, gave a tippet
revenue forecast for the current period. It's a signal that
growth is decelerating after a staggering two year boom in
artificial intelligence spending. The chip maker says it expects sales
to be roughly fifty four billion dollars in the third quarter.
That was in line with the average Wall Street estimate,
(00:38):
but some analysts were projecting more than sixty billion. Matt
Bryson is managing director of equity research at Whitebush Securities.
Speaker 4 (00:45):
That's something I think about here is that Nvidia almost
always leaves her. Over the last few years, they've left
something on the table, and that that's something has consistently been,
you know, two three billion. So when the guye to
fifty four billion, well, what it seems like they've been
telling the street is more like they can do fifty
six to fifty seven billion. I don't think anyone's going
(01:07):
to be disappointed if at the end of Q three
they're coming in at those type of numbers.
Speaker 3 (01:12):
Matt Bryce in a Webbush Securities has a two hundred
and ten dollars price target on in Video. Right now,
the stock is trading at one hundred and seventy eight.
Speaker 2 (01:18):
Dollars Nathan and Vidia says that Trump Administration's planned a
charge a fifteen percent commission on its AI ships sales
to China has not progressed beyond the early stages and
could pose legal risks. The company said it excluded as
much as five billion dollars in possible China sales from
its projection because it can't be sure whether geopolitical tensions
(01:40):
will allow it to fill orders and while in Video,
CEO Jensen Wong says they're still pushing to bring their
most advanced AI chips to the Chinese market.
Speaker 5 (01:49):
So I think, you know, the opportunity for us to
bring Blackwell to the China market is a real possibility,
and so we just have to keep advocating the the
sensibility of and the importance of American tech companies to
be able to lead and win the AI race.
Speaker 2 (02:09):
Nvidia CEO Jensen Wong ended his conference call by saying, quote,
opportunity ahead is immense, and a new industrial revolution has
started and the AI race is on well.
Speaker 3 (02:20):
Turning to the broader market now, Karen. Despite the Nvidia
pullback and uncertainty over the future of Federal Reserve Governor
Lisa Cook, stocks are trading near record.
Speaker 6 (02:29):
Highs this morning.
Speaker 3 (02:31):
Amanda Agatti of pn C Bank explains why markets have
been discounting the Trump Cook saga.
Speaker 7 (02:36):
I think the equity market is really largely ignoring it.
One because it's starting to get conditioned to a lot
of this purple haze policy uncertainty, but two because I
think the bottom line is rate cuts are more likely
than not regardless of what ultimately happens with Cook, and
I think that is the most important thing for the
(02:56):
equity markets path forward.
Speaker 6 (02:58):
P and C Banks.
Speaker 3 (02:59):
Amanda Gotti says expectations for rate cut could get murky
if inflation surprises to the upside. The Fed's preferred read
on price pressures, the Core PCE index, comes out tomorrow.
Speaker 2 (03:10):
Nathan, US companies are plenty of buy back shares at
a historic pace, and we bring in Bloombergy's John Tucker
for the very latest.
Speaker 6 (03:17):
John, Good morning, and good morning, Karen.
Speaker 8 (03:19):
It's a sign of corporate America's confidence in the economy.
Announced buybacks surpassed a trillion dollars last week. That's a
record over the last few months. Corporate heavyweights, in particular
the financials and technology, they have given the greenlight to
large share repurchasing programs. Back in May, you'll recall Apple
announced to a buy back one hundred billion dollars in stock. Alphabet, JP, Morgan, Chase,
(03:42):
goldmund Sacks, Wells Fargo, and Bank of America have also
announced buybacks of at least forty billion dollars. And the
Lenni is just last night with the Nvidia announcing a
sixty billion dollar buy back. Berni associate says, earnings are good,
they have enough money for capital expenditures and this is
a nice way to reward investors.
Speaker 2 (04:01):
You know.
Speaker 8 (04:01):
Yr comes John Tucker, Bloomberg Radio.
Speaker 3 (04:03):
All right, John, Thanks, It's head to Europe now, where
French spiritsmaker Pronel Ricard's been updating sales in the week
of US tariffs. Bloomberg's Ewan Pots joins us from London
with the very latest Jewan.
Speaker 9 (04:14):
Nathan and Karen Perno Ricards shares one of the biggest
gainers in Europe. This morning, the company behind Absolute Vodka
and Jamison Irish Whisky has topped earnings expectations a forecast
i pick up in demand in the second half of
the year. On US tariffs, including the ten percent levy
on UK exports, Perno says the total impact on a
fullier basis will be thirty five million euros. The company
(04:37):
says it will partly mitigate the tariffs by some price
increases in selected markets. In London, I'm youwing pots, Bloomberg Radio.
Speaker 2 (04:44):
Are you in thanks to Japan's top trade negotiator is
visiting the US suppress for lower tariffs, and Bloomberg Amy
Morris has more from Washington.
Speaker 10 (04:53):
Japan's top trade negotiator, Riosi Agazzawa, will push for the
tariffs agreed to in July, including lower duties on cars
and auto parts. Japan wants those duties cut to fifteen
percent and to end the stacking of previous duties on
fifteen percent universal tariffs. Look for Akizawa to urge the
Trump administration to implement these changes as soon as possible,
(05:13):
but the US wants to see a promised five hundred
and fifty billion dollar investment mechanism up and running. Details
of how that fund will operate are still not known.
In Washington, Amy Moore as Bloomberg Radio, na me thank you.
Speaker 3 (05:24):
In speaking of Japan, Warren Buffett's increasing his bet on
the country. His Berkshire Hathaways raised its stakes in Japanese
trading houses Mitsubishi and Mitsui. Buffett first revealed stakes in
the trading houses in twenty twenty. Berkshire has holdings in
Japan's five biggest trading firms.
Speaker 2 (05:40):
Nathan the White House is ramping up pressure on India
over its purchases of Russian oil and a conversation with
Joe Matthew on Bloomberg's Balance of Power. White House trade
advisor Peter Navarro called Russia's conflict with Ukraine Mody's war.
Speaker 11 (05:54):
The road the piece runs at least partly right through
Newdella's were I mean Modi's war is because the road
to peace runs in part through New Delhi.
Speaker 6 (06:04):
I mean that's a lot of money.
Speaker 2 (06:06):
Right, I was. Trade advisor Peter Navarro spoke after the
US doubled tariffs on India's exports to fifty percent is
punishment for its Russian oil purchases. China remains the world's
largest Russian crewed buyer, but the White House has extended
a ninety day trade truce with Beijing.
Speaker 3 (06:22):
And Karen, there has been another major shakeup within the
Trump administration. The White House has fired Centers for Disease
Control Director Susan Monterez just weeks into her tenure. Her
attorneys say Health Secretary Robert F. Kennedy Junior is targeting
her because she refused to quote rubber Stamp unscientific reckless directives,
and now at least three senior CDC leaders say they
(06:43):
are resigning in protest. All this comes weeks after the
CDC was targeted in a shooting that killed a police officer.
Current and former Health and Human Services employees wrote an
open letter after that attack blaming Kennedy for spreading vaccine misinformation.
Speaker 2 (07:03):
Time now for a look at some of the other
stories making news in New York and around the world,
and for that we're joined by Bloombery's Michael Barr.
Speaker 6 (07:09):
Michael, Good Morning, Good morning, Karen.
Speaker 12 (07:10):
Vigials held last night for the victims of yesterday's horrific
mass shooting at a Minneapolis Catholic school, A shooter opened
fire during mass at the Annunciation Catholic School, killing two
children and injuring seventeen other people before dying by suicide.
Speaking at Glenhurst Park, Minneapolis Mayor Jacob Frey deplete it
(07:32):
with the people in attendance to speak up and call
for gun control.
Speaker 13 (07:37):
While thoughts and prayers are great, they are not adequate.
Speaker 7 (07:42):
These children were literally praying at this moment.
Speaker 12 (07:48):
Mayor Fry. The dead include an eight year old and
a ten year old child. Minnesota Governor Tim Walls, we.
Speaker 14 (07:55):
Often come to these and say these unspeakable tragedies or
there's no words for this. There shouldn't be words for
these types of instances because they should not happen.
Speaker 12 (08:06):
Minneapolis Chief of Police Brian O'Hara spoke about the shooter.
Speaker 15 (08:10):
The coward that shot these victims took his own life
in the rear of the church. That coward has been
identified as twenty three year old Robin Westman, no prior
criminal history.
Speaker 12 (08:22):
Minneapolis Police Chief Brian O'Hara says while they are searching
for a motive, the shooter is said to be a
former student. The injured children are between the ages of
six to fifteen. There were also three adult parishioners, all
in their eighties attending the mass that were also shot,
although the wounded are expected to survive. Authorities say a
(08:43):
mass Russian drone and missile attack on Ukraine's capital has
killed at least ten people and wounded forty eight. The
attack early today on Kiev was the first major Russian
combine combined attack on Kiev in weeks. The Immigration detention
center President Trump called Alligator Alcatraz will be closing up shop,
(09:04):
according to new details. Last week, a federal judge in
Miami ordered the center to wind down operations. Alligator Alcatraz,
located in the heart of the Florida Everglades, was rapidly built,
capable of holding up to three thousand detainees. The facility
has drawn public backlash over its location and living conditions.
(09:25):
Global News twenty four hours a day and whenever you
want it with Bloomberg News Now, Michael Barne, this is Bloomberg.
Speaker 2 (09:32):
Hevin Hey, Smichael time now for our Bloomberg Sports up dating,
Brown he Bringhi, John Staff.
Speaker 14 (09:38):
Shower, Thanks, Daron ywed Wider Cup down, and Keegan Bradley
filled out his roster for the upcoming Ryder Cup. At
Bethpage on Long Island. Did not pick himself to play
pick Justin Thomas, Colin, Morri Kama, Ben Griffin, Patrick Cantley,
Sam Burns, and Cam Young. Tommy Devido, the quarterback released
by the Giants the other day, has been claimed on
waivers by the Patriots. The Mets with a six stopping
(10:00):
shut out of Afhillies. The rookie Nolan MacLean pitched eight Indians.
He's the first Met pitcher to win its first three starts.
That's air Bloomberg Sports Update.
Speaker 2 (10:09):
Stay with us. More from Bloomberg day Break coming up
after this.
Speaker 1 (10:17):
Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
and around the world on Bloomberg dot Com and the
Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 6 (10:28):
Good morning, I'm Nathan Hager.
Speaker 3 (10:29):
Well, wasn't the blowout quarter many investors have come to
expect from the world's most valuable company. Nvidia delivered a
more muted revenue forecast for the current quarter, raising some
concern perhaps that the breakneck growth we've seen in AI
spending maybe tapping the breaks. But in Vidio CEO Jensen
Wong is thinking longer term.
Speaker 13 (10:47):
Over the next five years, we're going to scale into
with Blackwell, with Rubin and follow ons to scale into
effectively a scree to four trillion dollar AI infrastructure opportunity.
Speaker 3 (11:01):
That was in Vidia CEO Jensen Wong at the conference
call last night. Joining us this morning, Dan Ives, Global
head of Technology Research at web Bush Securities.
Speaker 6 (11:10):
Dan, Good morning.
Speaker 3 (11:11):
I know we've talked before about expectations for AI spending
in the longer term, but when we hear three to
four trillion dollars in the next decade, is.
Speaker 6 (11:20):
Jensen Wong continuing to set the bar too high? Good morning? Yeah.
Speaker 16 (11:26):
I mean, look, I think it's these are jaw dropping numbers,
and the reality is there's no one that has a
better view of what's happened when it comes to AI
revolution than the godfather of AI, Jensen himself. And I
think this is just not just a bullish forecast. I
think it shows we are just early days in terms
of just what's really going to be a fourth Industrial Revolution.
Speaker 3 (11:49):
Now in terms of the current forecast, fifty four billion
dollars in sales in this quarter.
Speaker 6 (11:54):
That was in line with estimates.
Speaker 3 (11:57):
A lot of investors have been expecting that in Vidia
will continue to go above those inline estimates. Is fifty
four billion enough to keep the momentum going for this company?
Speaker 2 (12:10):
Yeah?
Speaker 16 (12:10):
Look, I think you have to also look at China
because this excludes any China revenue. When you think about
age twenty, that could be two to five billion, and
then you look at what could be really fifty percent
growth over the next year. I think that's really the
call here is that at first, yeah, you could say
it's conservative, but these are jaw dropping numbers when you
(12:34):
look at the growth and now China getting added back
to that. Given the green light that we're seeing from
the White House, Look, there's one chip in the world.
If you in the AI revolution, it's in Vidia.
Speaker 6 (12:45):
Is it really a green light? Though?
Speaker 3 (12:47):
I mean, we got the you know, the fifteen percent
revenue sharing agreement that the White House says it's imposed
on in Vidia. The company itself sort of raised some
questions about that. How green is that light for China penetration?
Speaker 16 (13:04):
Look to essentially pay for play model, right, and like,
obviously there is going to continue to sort of be
some noise around the situation, but the reality is that
China market is going to be reopened for in video
and in video wants, you know, not just a factor
into China, but they don't want to give on a
silver platter. Huawei twenty billion thirty billion a year and
(13:27):
I think the White House you've seen now the path
is there. So I think when you start the factor
in with China revenues combined with what the company's seeing,
massive demand that's really off the charts, and there's this
doctor is going to be green.
Speaker 6 (13:43):
Does China want in video?
Speaker 3 (13:45):
There's been a lot of uh motivation in the from
the Chinese government to grow its own AI accelerators and
concern raised about you know, they say that there could
be trackers on in video chips as well.
Speaker 6 (14:02):
Does China want in Nvidia?
Speaker 16 (14:05):
Look, there's going to be a back and forth, right,
this is a political you know, I obviously continued game
of chess being played between DC and Beijing. But the
reality is in Vidio chips are years ahead of any
other chip. So when you go to Chinese big tech companies,
that's chip they want. So it comes down that there
(14:27):
could be some political grand standing. But in Nvidia continues
to be the chip that Chinese players want, and I
think that look as is all plays out, it's just
going to continue to show that there's one chip fuel
in the AI revolution, whether in US or China, and
it's in video.
Speaker 3 (14:46):
Just got thirty seconds left, Dan, your colleague at Wedbush,
Matt Bryson's got a two hundred and ten dollars price target
on in Vidia. It's not there yet. Are you making
any changes to your price target after these earnings?
Speaker 16 (14:58):
No, Bryson av dark you ten. But we ultimately believe
this is a five trillion dollar markup as we go
into early twenty twenty six. I think you know it's
only second inning of a nine inning game in terms
of AI.
Speaker 2 (15:15):
This is Bloomberg day Break, your morning podcast on the
stories making news from Wall Street to Washington and beyond.
Speaker 3 (15:21):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (15:28):
You can also listen live each morning starting at five
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Speaker 6 (15:42):
Plus.
Speaker 3 (15:43):
Listen coast to coast on the Bloomberg Business App Now
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Speaker 2 (15:48):
And don't forget to subscribe to Bloomberg News Now. It's
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platform to stay informed all day long. I'm Karen Moscow.
Speaker 6 (16:01):
And I'm Nathan Hager.
Speaker 3 (16:02):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg.
Speaker 6 (16:07):
Dabray
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