January 7, 2026 • 42 mins
Bloomberg Tech's Caroline Hyde and Ed Ludlow are live from CES in Las Vegas. They sit down with Jim Johnson of Intel's Client Computing Group to discuss the chipmaker's efforts to make its products competitive again. They also discuss why Warner Brothers rejected an amended takeover offer from Paramount Skydance; and they are joined by Mobileye CEO Amnon Shashua to weigh in on the company's acquisition of Israeli startup Mentee Robotics
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Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news. Bloomberg Tech is a
live from coast to coast with Carolline Hyde in New
York and Ed Lovelow in Sent Francisco.
Speaker 2 (00:24):
Welcome to a special edition of Bloomberg Tech Live from
CES in Las Vegas. We've been bringing you conversations from
the biggest names in the industry in today we have
another great lineup coming up. First, we sit down with
Jim Johnson, an Intel's client computing group, to discuss the
chipmaker's efforts to make its products competitive again.
Speaker 3 (00:42):
Plus Warner Brothers. It rejects an amended takeover offer from
Paramount Skuydouts. We'll break it all down, and Paul Pastor
of quick.
Speaker 2 (00:48):
Pay will be joined by Mobilized CEO to discuss the
company's acquisition of Israeli startup Mentee Robotics in a cash
and stock deal valued at nine hundred million dollars.
Speaker 3 (00:58):
The deals still getting done, but let's check it on
these markets, which are being ruled by geopolitics once more
than aw's that managing to brush that off a little
bit more than the SMP. Remember we're still now record
highs on the SMP. We're up another three tenser percent
on the main benchmark. When it comes to the tech names,
maybe less affected by what's happening in terms of geopolitics
and Russia and the US at the moment out in
(01:18):
the seas, but we're currently holding on to gaines.
Speaker 2 (01:21):
Geopolitics is always there I'm looking at in video. It
is the mainstay of this CES week, with Gensen one
speaking multiple times. The stock is up almost one and
a half percent in the current session. You know, there
are headlines out right now from the information that China
is asking US tech companies to hold orders of H
two hundred. Gens One's been peppered with questions about H
(01:41):
two hundred for the last three days straight and you
can see over three days this was not the blockbuster
that we thought it would be to start the year.
In video's up half a percentage point.
Speaker 4 (01:50):
Now.
Speaker 2 (01:51):
The big data point was the forecast for the next
few quarters Blackwell and Rubin, and this is what Gensen
one had to say about that forecast.
Speaker 5 (02:01):
Harbor pricing is actually going up in the cloud. All
of the harbors are consumed in the cloud and now
pricing spark pricing is starting to go up, and so
that tells you about the demand that's been generated all
over the world. So age two hundreds, I think is
going to contribute also to that, and I think, all told,
(02:21):
all told, I think we should have a very good year.
Speaker 2 (02:27):
That question was posed to Jenum won by Bloomberg Sean King,
who's covered semiconductors here since nineteen ninety eight, and the
context is that you said to him in October, you
told us over five fiscal quarters, five hundred billion dollars
of sales across Blackwell. And then Reuben, is it possible
that that number could go up? And as we just heard,
there are various reasons why Jensen thinks that number could
(02:49):
go up.
Speaker 6 (02:50):
Yeah.
Speaker 7 (02:50):
I mean fundamentally here, all our audiences care about is
are we in a bubble or not? And they just
want any piece of information, any hint to explain, well,
why we're not. Obviously, what he was saying was there's
lots of things going on. There's new models, there's new
areas of the economy that are coming into AI, and
all of this means that demand is actually better than
I thought it was, so that number is looking like
(03:13):
it's a bit low. So that was good news, but
nobody got that excited about it.
Speaker 3 (03:17):
Where they did get excited is memory storage. Oh my goodness,
Sandusk is up one thousand percent from its lows. It's
up fifty percent in the first three trading days of
the year. In what are you hearing in terms of
this demand for memory and the price point that we're
going to see.
Speaker 7 (03:30):
I mean, as always with the memory ship industry, you
either got a fee storre of famine at the moment.
Speaker 8 (03:36):
We're in a famine.
Speaker 7 (03:37):
When we're in a famine, the price goes up, right,
And that is exactly what's happening right now.
Speaker 3 (03:42):
My demand is basically always has been.
Speaker 7 (03:45):
They can't build factories fast enough, they can't build production
fast enough to meet these short term surges in demand.
So right now the price is going up.
Speaker 2 (03:52):
And we're actually taking storage as well, not just the
high bandwidth memory that goes around the GPU. A point
of discussion on the internet has been autonomous driving. Yeah,
once again, in Video came out strong with autono striving.
You and I was sat next to each other in
the keynote, and you can tell us about Nvideo's offering.
But he's also caught the attention of Elon Musk and
Tesla of course.
Speaker 6 (04:13):
Yeah.
Speaker 7 (04:13):
I mean there was a little bit of a backwards
and forwards between Jensen and Elon about you know, whose
system is better, and most of them ending up praising
what the others doing in the end, because, let's face it,
they need each other.
Speaker 8 (04:23):
But this is the point that we're at.
Speaker 7 (04:25):
We've been promised cars that are robots that can do
their own thing for a very long time. Hasn't happened
as fast as we were promised. And what we're being
told now is we're at the cusp of this. And
this is great if you're making chips, if you're making
the components for these vehicles.
Speaker 3 (04:40):
Cars, robots. Seen a lot of them. I'm going to
continue to see a lot of them. In King we
thank him so much for his decades of work in
the chip sector as well. But let's stay with Nvideo
because of course, ed you sat down with Nvidia CEO
Jensen one and Zeeman CEO Ronn Busch. Do you discuss
their latest partnership the expansion of AI efforts. Just take
a listen.
Speaker 9 (04:59):
We're announcing a big partnership between us. We've known each
other for a long time, but the partnership we're announcing
is really a big deal.
Speaker 2 (05:06):
One.
Speaker 9 (05:07):
We're accelerating their EDA software, We're accelerating their simulation software.
We're integrating AI technology, physical AI and agentic AI into
their team center and their factory automation operating system. And
so we're working together across this entire spectrum. When we
(05:27):
accelerate the software, then we'll get to use it to
design our chips and systems. When we accelerate their simulation software,
we'll use it in our AI factories to simulate the
thermal properties of our AI factories. When we integrate our
automation and agentic systems into their AI industrial operating system,
(05:48):
we can then use it in our factory floors with
our partners, for example fox Con. And so we're working
across this entire spectrum together, and we're going to put
the technology to use basically as soon as we can.
Speaker 2 (06:00):
What's the net effect for you, Jensen, Is it improves
margins efficient capital allocation. I know that might sound a
bit dry, but actually, right now, that's the answer everyone's
searching for. How is this investment in AI and use
of the technology actually changed things in the real world
for me?
Speaker 9 (06:16):
Well, announce yesterday Vera Rubin it takes six different chips
to integrate into this incredible system called Vera Rubin. And
when you're done, each one of these Vera Rubin GPUs
is two hundred and forty thousand wants and it is
ten times more energy efficient than a last generation. It
(06:36):
is ten times more cost efficient than a last generation.
But it's still the technology is insanely complicated. One hundred
fifteen thousand engineering years came together to build this system.
And so when we accelerate EDA tools, when we accelerate
simulation tools, and when we can eventually and I'm hoping
very soon design entire Vera Ruben systems inside a even's
(07:00):
digital twin, the chance the ability for us to create
much much more complex systems, will scale, will do it
much more efficiently. And so this is really about being
able to do the impossible, and being able to do
it impossible the impossible right the first.
Speaker 10 (07:16):
Time, and and and and once they then realize that
AI creates real world impact, this is where it really
deploys the full power and also.
Speaker 6 (07:28):
The economic power.
Speaker 10 (07:30):
It's not only in the data centers are any I
factories which we see, but also on the edge because
once you start influencing with low latency.
Speaker 11 (07:36):
You bring this technology to the edge.
Speaker 10 (07:38):
This is a huge potential for our customers to to
deploy this technology. And this includes of course includes hardware
and where we come from from the gits, it goes
into the controllers.
Speaker 11 (07:49):
Some of our controllers.
Speaker 12 (07:50):
Run on GPUs and then it goes all.
Speaker 4 (07:53):
The way to the industrial PC.
Speaker 12 (07:55):
Exactly, and and the andes are aides supercharge it and
they can now run algorithms trained in the cloud that
can run it on the shop floor and do all
that trick what we talked about it in retime optimization
and running in a planned and that makes a use difference.
Speaker 2 (08:17):
Nvidia CEO Jensen Wang and Semen CEO Roland Bush. They're
starting their own industrial revolution, is how they put it.
Coming up, Intel looks to gain a competitive edge with
new computers and redesigned processors.
Speaker 4 (08:28):
We speak with Jim Johnson.
Speaker 2 (08:29):
Intel Client Computing Group SVP and General Manager. That's coming
up next, This is Bloomberg Tech.
Speaker 3 (08:43):
Intel is here at CES with a slew of new
products from laptops and newly designed chips and it's part
of an effort to be more competitive across its product lineup.
Joining us now Jim Johnson, Intel Client Computing Group SVP
and general Manager. And the way you describe it as
the vibes are good, feeling positive about what you're unveiling.
Speaker 13 (09:01):
Yeah, it's been a long journey to get here and
finally launching. You know, what we think is the most
powerful mobile processor for mobile computing with our new process
Note eighteen A is something the industry has been waiting
for and wondering if we would pull off.
Speaker 3 (09:16):
Okay, for those that aren't deeply within the industry and
coming to your foundry and understanding what's going into this
new processor, the Core Alter series three. What makes them different.
Speaker 13 (09:27):
We took our most powerful mobile processor from last year
and built it on the most power efficient mobile processor
from last year, combining those two capabilities, and so we
run workloads from last year at forty percent lower power
this year on this processor.
Speaker 8 (09:47):
And it's I asked.
Speaker 13 (09:48):
I've been asking, knowing I've been coming here, I've been
asking our customers what would you say? They'd say, super powerful, surprisingly,
power efficient.
Speaker 6 (09:55):
That's what they told me last night.
Speaker 2 (09:56):
So here's the thing, Jim, and with respect AMD and
qual customers would say the same thing. You know, AMD
and qualcom have already been out there this week saying
that their processors and parts, best battery life, best performance,
and they both argue that they're taking share.
Speaker 4 (10:11):
Right, What data.
Speaker 2 (10:13):
Points can you point me to that would evidence Intel's
back in the lead in that market based on this technology.
Speaker 13 (10:19):
I get asked quite often what's the killer app for
an AIPC, And up until this part I didn't have
an answer. But if you're into mobile gaming, we built
a GPU in Series three with an AI capability called
multi frame generation. So you would typically render a frame
and then render a frame in between. You can now
(10:40):
use AI called multi frame Generation. It's quadruple in the
frame rate and super smooth play. So I will take
that system up against any of our competitors. If you're into.
Speaker 4 (10:52):
Mobile games, it is Intel in the lead, I believe.
Speaker 2 (10:54):
So, yes, twenty twenty six is fascinating. Bigger picture, you
have some fore Karta's forecasts. Is I think IDC saying
that the market will shrink nine percent this year? We
have others saying it will grow literally because of AIPC.
Speaker 4 (11:08):
What is your kind of forecast?
Speaker 2 (11:09):
And you know it comes back to the same question
we've had at CES for a couple of years now
is does the AIPC resonate with anyone at the corporate level,
at the consumer level.
Speaker 13 (11:19):
So a couple things. So that is part of the
conversation we're having this week. But the feedback I keep
getting from our customers is keep ramping supply of these
new processors because they believe they're going to win with them.
And from an AI standpoint, another thing that's happened because
we've been deploying aipcs now for two years, we have
(11:39):
the equivalent of forty data center's worth of compute on
the edge, and now we have like Arvin, the CEO
of Perplexity, came and did a talk with me and
he's now figuring out with us how to run portions
of his comment browser directly on the AIPC.
Speaker 6 (11:54):
For four reasons.
Speaker 13 (11:55):
He sees better performance, he sees better security and privacy,
see better cost, but for more importantly, more control.
Speaker 6 (12:04):
So for business they have more control.
Speaker 13 (12:06):
So I'm seeing these big AI companies actually start to
tap into what can they do more locally. Same with
so I guess another thing that happened is edge computing.
I know you've been talking about edge computing between cloud
and PC. We used to sell these parts maybe a
year or two after we launch them into factories and
(12:26):
so forth. But because the Series three process is really
good at perceiving the environment with our visual processor and
doing motor control of factory equipment and robotics, we have
demand on day one for Series three from edge customers.
Speaker 3 (12:41):
So let's talk about the supply. Because you have got
vertical integration, you're actually using your foundries, you are printing
this silicon.
Speaker 13 (12:48):
Yes, and we're building capacity specifically for client and that's
a real value proposition for our customers because they can
depend on us to keep supporting our product lines for them.
Speaker 3 (12:59):
In a way, you are the current of your own
OWL boundary. Why did you go with them not t SMC?
What turned you to think, Okay, these are the ones,
this is the supplier I need.
Speaker 13 (13:10):
There's three things that they did with eighteen A that
it's really impressive. They use the latest UV technology you can.
Speaker 6 (13:15):
Buy tag yousml YEAP, Yeah, that's right, that's right. And
they did two new unique innovations.
Speaker 13 (13:20):
We call it ribon fet or gate all around and
backside power delivery so you can separate power from signals.
We get fifteen percent better performance per w and multiply
that times twenty or twenty five watts in a PC
and we have thirty percent better chip density, and so
that allows us to compact our design, which allows our
customers to compact their design and put in bigger batteries,
(13:44):
and so you get they're now driving all day battery
life to multi day battery life.
Speaker 2 (13:48):
Jim, I think we have to end by talking about pricing.
You know, the background is that memory is an issue
at the moment. How do you manage it? Do you
pass on the cost or whether the storm feast and famine,
sicklical memory problems. You're you've been around right with.
Speaker 6 (14:05):
Respect, it's a conversation we're having this.
Speaker 2 (14:08):
Week, conversation or an acknowledgement that it's a problem.
Speaker 13 (14:10):
Well, it definitely is an issue in the industry. Our
customers are struggling on what they're going to do with it,
and they haven't decided yet. But what they're asking us
to do is keep our build plans solid because in
twenty twenty six they see a chance to really gain
share on the back of Series three.
Speaker 4 (14:28):
We just have a few seconds.
Speaker 2 (14:29):
Does the PC market grow, stay flat or shrink in
twenty twenty six.
Speaker 13 (14:34):
I think it's going to be plus or minus where
it's at now. Some people are much more dire than that.
But we have the same conversation when Terris came up,
and all the predictions, whether really drastic or big pull ins,
they kind of didn't come true. There was something more
in the middle. So we're planning for more in the middle.
But of course we'll react with our customers as we
need to.
Speaker 2 (14:54):
Jim Johnson, Intel Client Computing Group SVP and general Manager,
thank you so much. Up a conversation with Qualcom Cristianamon
on why robotics is the next big thing in AI
and they're not alone in that.
Speaker 4 (15:07):
This is Bloomberg Tech.
Speaker 2 (15:17):
Robotics is the next big opportunity in AI. That's according
to Qualcom CEO Christiano I'm on Carra sat down with
him here at CES in Las Vegas yesterday.
Speaker 4 (15:26):
Listen to this.
Speaker 14 (15:27):
Yes, look, we're incredibly excited about this is a new chapter.
I think of the Qualcom expansion and diversification, I think
we're going to robotics. We like robotics a lot because
by definition, is an edge AI problem to solve, not
different than what we did in automotive. You cannot put
a server in a robot. You need bettery life, you
(15:48):
need a lot of integration as sensors and physical AI
is a massive opportunity and it's an EDGAI opportunity. So
as we look at this transition of qualcom into a
new industry, we went to automore, motive, to PC to industrial,
UH to data center. Now robotics this is the next opportunity.
We actually have a number of robots here at our
(16:09):
booth at CS demonstrating training humanoids Industrial. I think we
started UH the year working with some of you know,
great companies German Kouka, Figure AI, and I think it's
going to be a great opportunity and robotics it's perfect
for you to have high performance computing and low power
(16:31):
connectivity is an edge AI problem and I think it's
going to be the next big wave of AI physical AI.
Speaker 3 (16:38):
How soon is that reality? Already we have robots in
manufacturing and industrials, but how soon is it fully autonomous robots?
How soon do we start to have the humanoid versions
in our houses.
Speaker 14 (16:48):
Look the way we think about this is things that
you didn't find were possible to do with a robot,
you can do it.
Speaker 6 (16:56):
Right now, use an AI.
Speaker 14 (16:57):
I think industrial robot is the big largest opportunity that
we see in front of us, and it's probably starting
as early as twenty twenty six. When you train use
AI to train a robot on one given task, it's
it's a very well defined problem, and you can do
this and you put into production consumer robot, the one
(17:20):
that is going to be in your house and do
everything for you. It's gonna take a little bit of time,
but it's going to happen and it's going to be
a big opportunity. I like to do this parallel that
we saw with automotive when we start talking about autonomous cars,
a lot of companies went in and said, we're just
going to get this full autonomo robotax in, but until
you get there, you can do assist the driving to
(17:42):
every car on the road, assuming that the driver is
there to pick it up. And we've seen in ads
level two, level three highway highway autopilot that's.
Speaker 6 (17:50):
What we're doing.
Speaker 14 (17:51):
I think the same parallel applies to robotics. First, you
have a lot of enterprise in the industrial applications. We
see companies form when retail at night robot go to
the aisles of the supermarket and restuck the shelves.
Speaker 6 (18:05):
Something very simple.
Speaker 14 (18:07):
That opportunity is happening right now. Over time, we're gonna
have the domestic robots that would do.
Speaker 6 (18:12):
Everything for you.
Speaker 3 (18:15):
Carl Concio, Cristiano, I'm on there trying to be a
little bit more realistic about how soon we're gonna have
humanoid robots in our homes. But robotics is one of
the key themes that everywhere here in ces right now book.
Sam Kelly should have been tracking them on the shop
floor should we call it in the time, I mean
everywhere you look as a humanoid, is that your vibe?
And is everyone taking that form factor?
Speaker 15 (18:36):
Yeah, it's so funny. Yesterday I was walking around. I
saw one playing ping pong, one.
Speaker 3 (18:40):
Made me a latte.
Speaker 15 (18:42):
There was a chess robot, you know, and some of
them were on the enterprise side too, showing what it
could be like.
Speaker 16 (18:47):
On the assembly line.
Speaker 15 (18:48):
But yeah, humanoids in particular are really big. This year
we saw during a Quino, LG had its Cloyd robot
come out folding laundry. Lots of laundry folding robots as well,
and I think it shows one thing that's really interesting
is before a lot of these were in controlled experiments.
Of course that's still happening, but companies are now coming
out doing more live demos, which shows a little bit
(19:09):
more confidence, a lot of growth. Also, we've seen some
challenges around hand finger movements. Legs is another challenge.
Speaker 16 (19:16):
So certainly challenges.
Speaker 4 (19:17):
Ahead, dexterity.
Speaker 2 (19:18):
I mean, when we were speaking to Jensen Wong, you say,
you know he labels this the chat GPT moment for robotics, right,
but there are still challenges.
Speaker 16 (19:26):
Oh yeah, Is there.
Speaker 2 (19:27):
Any acknowledgement here on the showroom floor that we aren't
going to see these robots in our homes tomorrow?
Speaker 16 (19:33):
Yeah?
Speaker 15 (19:33):
I mean I think we can see that just by
sometimes looking at a demo and it might take a while,
or even with LG the robot was doing the laundry,
but it took a long time. It was a little
painfully slow. So we're certainly not there yet. And also
just to have it in the home, you have cluttered homes.
Homes are unpredictable. You have to be really careful, especially
with humanoids with legs. You don't want them falling. So
(19:55):
we are certainly very this is not happening anytime too soon, And.
Speaker 3 (19:59):
That's what this is about. This is about pushing forward
the innovations, thinking what's coming in the next decade, maybe
not the next ten months, but some What are you
seeing in terms of health and wellness? Because I'm hearing
a lot about robots, perhaps therefore mental health, full caring
for the elderlady, but you'll see a lot of other
areas what health and wellness.
Speaker 15 (20:16):
Is, Yeah, exactly different form factors. So we're all familiar
with the smart watches and the smart rings, of course,
but now yesterday I saw a toothbrush that predicts signs
of longevity, whether you might be more likely to get
a certain type of disease or kidney issues from a
toothbrush because of saliva is actually a little bit more
of a predictor than just like the skin. Yes, so
(20:38):
the different form factors like that. I saw a longevity
mirror that analyzed my blood flow to predict maybe perhaps
signs of either hypertension down the line or other heart
health things like that. Also a smart night guard, so
people who grind their teeth at night. In addition, it'll
like nudge you so you step doing that. But it
also again with the saliva you're sleep and it'll predict
(21:02):
issues long term issues with your health, but also it'll
tell you how well you're sleeping, sleep tracking, sleep apnea,
things like that. So different types of health is coming
into different form factors.
Speaker 6 (21:14):
That's super quick.
Speaker 16 (21:15):
You've been to many cees.
Speaker 4 (21:17):
Yeah, the vibe relative to prior.
Speaker 15 (21:19):
Years, Yeah, it feels like exciting, you know, to the
point of like a chat GBT moment. People are really
excited to be here and show off different new things.
And I think there's you know, who knows what you know,
this is a testing ground. Who knows what really is
going to happen, But there's definitely a level of excitement.
Speaker 2 (21:35):
You're trying to check out what Sund's been writing about
on Bloomberg dot com write character.
Speaker 3 (21:40):
Yeah, you're going to have a big conversation later. It's
all going to be about health wellness, AURA and particularly
about what well how this goes in sync with the FDA.
Speaker 2 (21:49):
Right when you think about help Tom Hale or a
CEO the ring wearable. I'm not an AURA awarer, but
you know right now they have a lot of questions
about how they go beyond, particularly a female user base.
Speaker 4 (22:00):
To come Bluemosum Kelly, thank you.
Speaker 2 (22:01):
Coming up, we've got a big conversation with Mobile Ized
CEO and non Shahu after the acquisition of a robotics company, Mentee.
It is halftime. We are in Las Vegas. This is
CS stay with us, this is Bloomberg Tech.
Speaker 3 (22:23):
Welcome back to Bloomberg Tech, a very special edition live
in Las Vegas for CES. Let's take a look at
these markets, because look, we are being ruled to this
can extent by fresh geopolitical tension. But not then as
that one hundred we remain in gains up a quarter
of a percentage point. Yes, there's all eyes on Memory makers,
Yes there's all eyes on Video and AMD post some
of their announcements, but we want to put all our
(22:43):
eyes on one particular stock right now. Ed because Mobile
I yesterday had a pretty key announcement a new deal,
a deal to the tune of nine hundred million dollars
combining cash mobilized shares to buy Menty Robotics, and the
dealers expect to be closing the first quarter of twenty
twenty six, we're still in gains up three times percent.
Were significantly off of our hives as the market digests
(23:04):
what this deal really means. We've got a perfect person.
I'm asking what it means. I'm not Shashure has here
with us Mobile I CEO is wonderful TOI some time with.
Speaker 11 (23:11):
You, Sam, wonderful to be with your Carolina Ed.
Speaker 3 (23:13):
Why is it right for you to go from autonomous
driving into the world of robotics.
Speaker 17 (23:19):
Well, Mobilize, an AI company in the field of autonomous
driving driving, says the full spectrum of a computer vision
and AI to control cars and humanoid robotics has been
recognized in the past two or three years as a
complementary domain and Mobiliz wants to it's not only another
(23:40):
growth engine, but from a technological point of view, if
you are an actor in this area of physical AI,
you want to then extend it to the full scope
of physical AI. And I believe that robotics, humanoids, they
have a great future. Now maybe it's a long term
plate that it's not, you know, a year from now,
but I believe it has a significant, exciting future. And
(24:04):
from Mobilize, there's synergetic areas in infrastructure, in AI, in software,
in AI talents.
Speaker 11 (24:13):
So from Mobiliz, this is a great move.
Speaker 3 (24:15):
I mean of course, in many ways, people say you
think that because you helped found menty your son's work
at MENTI help me get comfortable with that because many
have thrown such accusations. Elon must sway sometimes previous acquisitions
and not liked it.
Speaker 17 (24:32):
Well, it's called the related party transaction. Has been done
in the past and will be done in the future,
and there are ways to handle it, like being recused
from decision, which I did and so forth. And you know,
my son has a zero point zero zero zero zero
one percent is just an employee, so it's not a
big deal. You know, he graduated from computer science and
(24:54):
he wanted to do some work and go work for
a company that is very very strong and AI working
on the future of physical AI. So it makes sense.
But you know that is really immaterial. The material part
is the scope of AI. You know, physical AI includes humanoids,
(25:14):
includes autonomous driving, and it makes a lot a lot
of sense. Now, Mobili over the years was always looking
for a new growth engine, right for example, take computer
vision and applied maybe to security areas in cameras and
so forth, But we never found something that really clicked,
found something that has significant modes, that has a significant
teram and humanoids is becoming that click is becoming this area.
Speaker 11 (25:39):
Where are you coming to growth?
Speaker 2 (25:40):
You know, I've been talking for years about you know,
mobilized existing footprint and then it's go to market in
the future.
Speaker 4 (25:47):
What's the go to market for mente?
Speaker 17 (25:49):
Well, we said to go to market in two phases.
The first phase is structured environments like warehouses, assembly plants,
retail where the number of tasks are finite are also
understood in advance. What are the tasks that the customer
is interested. A customer will buy a fleet of robots,
(26:10):
not just one robot, and you can customize per customer
that I think based on pocs that the mentee has
been doing. If you look at the demonstrations that have
been showing like robots picking boxes, moving them from place
to place.
Speaker 4 (26:25):
You wouldessentially just sell the hardware.
Speaker 11 (26:27):
A seller robot, either sell or Lisa robot.
Speaker 17 (26:31):
We believe that the manufacturing costs in a reasonable volume
of tens of thousands of robots would be twenty thousand dollars.
So this gives a lot of flexibility in a business model.
So this is phase one. We believe it will start
in twenty twenty eight. Phase two is unstructured environments like
home use that is much more complicated because the tasks
(26:52):
are open ended.
Speaker 11 (26:54):
You need to continuously learn.
Speaker 17 (26:55):
So it's not that you can prepare yourself to all
the possible tasks in a home home use, so you
need new technology. So it's not that the same technology
you use for structured environments. And this is one of
the things that I showed in my keynote, a technology
that Minty and this is why Minty is called Minty
from mentory. The robot is watching passively watching a human
(27:17):
showing a new task, and.
Speaker 11 (27:19):
The video goes up to the cloud.
Speaker 17 (27:21):
In the cloud, there's a foundation model that takes the video,
moves it into a simulator, trains over the simulator. Today
it's a few hours in the future, a few minutes
goes back.
Speaker 11 (27:30):
To the robot and the robots perform the test.
Speaker 2 (27:32):
Let's go back to your core business and on this
week in video showed us a full stack solution for
autonomous driving. You know, they make arguments that their software
and hardware competencies will make them win your evaluation of
what they're offering against what you plan to do. Costs
for a mile basis, how worried you are.
Speaker 17 (27:52):
I'm not worried competition. I believe it's always good. It
kind of ignites the market. In my keynote, I had
Christian Zenger, the CEO of Folkswagen Autonomously Cars, chairman of Moya,
come to the stage and talk about one hundred thousand
vehicles the next eight years, one hundred thousand robotaxes in
(28:12):
the next eight years. Talked about that we are almost
there in removing the driver, going driver less in Q three.
Speaker 2 (28:20):
Yeah, but are they using mobiliz Yeah, of course this
is clad iron, claud this is a mobilize.
Speaker 17 (28:25):
There are one hundred id bus vehicles in multiple locales.
Speaker 11 (28:29):
All of them is mobilized.
Speaker 17 (28:31):
Tack and we are really on the way of removing
the driver and a very cost effective solution. Our sensor
set is, you know, ten thousand dollars twelve thousand dollars.
Compute is very very cost cost optimized. Mobilized chips are
one tenth of the cost of competing chips. We developed
(28:55):
our imaging radars which are the best on the planet,
those imaging radars. I feel very confident that we are
on our way to a new growth engine.
Speaker 16 (29:03):
With the Robotax your striking deals.
Speaker 3 (29:06):
We understand as us all to make it that you
struck a deal with the nine million cars for safety software.
Speaker 17 (29:12):
Okay, US automaker. There are three to four no pick one.
But I think that this nine million units is a
big news because we are talking about the evolution of AIDAS.
So AIDAS today is a front facing camera. Maybe you
have a front facing radar. This nine million units is
(29:34):
called surround aidas. You are taking a front facing camera,
four parking cameras, multiple radars, a very strong value proposition
to the customer, and it replaces multiple ECUs in the car.
It replaces the aco A parking a CEO.
Speaker 11 (29:49):
Of aed driving monitoring system, hands free.
Speaker 17 (29:51):
Driving on highways, safety functions for the next five years.
So this is the evolution of AIDAS, and it's high volume.
We have two customers in the past year, Volkswagen and
this US customer nineteen million units.
Speaker 4 (30:06):
This is big AI twenty one.
Speaker 2 (30:09):
We're hearing that in Vidia, mister Fong is quite interested
in another one of your companies. He's here this week.
What can you tell us about how talks are going.
Did you manage to speak to Jensen while here?
Speaker 17 (30:20):
You know the Israeli press is not as tight as
the US press, So don't believe anything you read in
the Israeli press media.
Speaker 11 (30:28):
No that there are talks, are talks.
Speaker 17 (30:29):
On Vidia, talks with others, but no, it's nothing even
close to talking about it in the press.
Speaker 3 (30:36):
How do you think Mobile I investors would feel about
an acquisition of AI twenty one by and.
Speaker 17 (30:43):
It has nothing to do or the I twenty one
is working on foundation models and agents, has nothing to
do with activity of Mobilize, activity of Minty Mobili is
physical AI busy man by man man.
Speaker 2 (30:59):
Yeah, the time here at the ces Las Vegas amnon
Shashua Mobili CEO, thank you very much.
Speaker 4 (31:05):
Coming up, we have a whole lot more we speak
with the quick.
Speaker 2 (31:07):
Play CEO Paul Pasta, as Warner Bros. Says paramounts amended
offer remains quote inadequate.
Speaker 4 (31:15):
This is Bloomberg Tech. Warner Bros.
Speaker 2 (31:26):
Is rejected Paramounts Guidancewer's latest amended offer, calling the company's
revised bid quote inadequate and urging shareholders to stay the
course with Netflix. Here discussed the state of media and
streaming is Paul Pastor Quick Play Chief business Officer Paul
also previously held senior executive positions the Discovery Communications and
the Walt Disney Company.
Speaker 4 (31:46):
There's a lot in the sort of structure of.
Speaker 2 (31:48):
The deal that the Warner Brothers Discovery board points out.
A lot of it has to do with the debt
load of the Paramount deal. So there's something interesting in
it that I wanted to pick out, which is, we
don't agree how valuable table networks are. So the street
and the investors would say, actually, they're much more valuable
than you're giving them credit for. Paramount Skuydiance would say,
in our thirty dollars share offer, we don't think they're valuable.
(32:11):
Therefore the thirty dollars a share offer is a great
premium because we want the whole thing.
Speaker 18 (32:16):
How do we value those networks? Gusha was another great question.
I mean, it really is a difficulty to manage. At
this moment, we're talking about a really big shift in
the ecosystem.
Speaker 2 (32:24):
Right.
Speaker 18 (32:25):
We've had these traditional channels around broadcast cable that have
been almost cash cass for these businesses for a long time.
Then the shift of streaming and the ability to build
those businesses with lower margins. Right, but now we're seeing
with price increases, advertising dollars moving in that it's actually
a great value and now a huge shift into this
creator economy and thinking about shormcom content, And then you
(32:47):
have to evaluate those assets against those big shifts in
the ecosystem.
Speaker 16 (32:52):
They still have value, they still.
Speaker 18 (32:53):
Spin off cash, They still can be the home for
reach and advertising, but the real value has shifted the
advertising dollars of did in.
Speaker 16 (33:00):
A new direction.
Speaker 2 (33:00):
Well, we're going to remind our audiences a state of play,
because in a deal like this you get some fatigued.
But Netflix is basically saying we want the streaming business
in the studios, will spin out the legacy networks, paramounts, guidance,
wants the whole enchilada. In your mind, which result would
make most sense for the consumer, you know, and what
they would actually use those platforms for sure?
Speaker 18 (33:20):
Well, listen, I think that there's absolute value for the
consumer and for the shareholders most certainly in a Netflix
Warner Brothers combination.
Speaker 16 (33:27):
Right, you have superior storytelling.
Speaker 18 (33:29):
Capabilities coming from the HBO Max and the Warner Legacy
and their entire library, coupled with what is superior tech.
Netflix has led the industry in personalization, in driving, new
features right and algorithms. That combination is certainly unique. Now
does that mean that's the best consumer I don't know.
Does the storytelling capabilities that are combined with Paramount coupled
(33:52):
with Warner deliver more value into the ecosystem in general
and for consumers overall who get great enjoyment out.
Speaker 16 (33:57):
Of those stories. That's a difficult equation to value.
Speaker 18 (34:01):
But I can most certainly see there's value in the
greatest tech and greatest storytellers coming together.
Speaker 3 (34:05):
Well, perhaps that isn't value for for consumers. Right now
is three companies getting caught up in a lot of
admin and fighting and regulatory discussions rather than focusing on
the business and innovating. How much is that a risk?
Speaker 18 (34:16):
I think this is the biggest risk of any big
transaction and M and A activity. Right, the focus becomes
how do these companies potentially come together? Everybody internally thinks
about what is my role in this transition? And no
one's focused on the fact that they're competing with an
ecosystem that is evolving around them. Right, we saw that
social media platforms are taking over not only viewership but
total ad dollars this year. There is a huge shift
(34:39):
into the creator economy. And if you're just focused on
how do we put these two companies together versus the
competition that is outpacing you with tiktoking, YouTube and others,
you're going to be further behind by the time you
complete this transaction.
Speaker 3 (34:51):
And we haven't even discussed AI yet. And you think
about the big deal that was announced between sous of
Disney and open Ai at the tail end of last year,
is that's my viewing experience is going to be like
going forward? When I turn on Disney Plus, what does
it look like as a screen?
Speaker 18 (35:06):
So I think this is going to be the biggest
piece of innovation we see in twenty twenty six. So
AI for the last year has been about doing discreete projects.
Speaker 16 (35:13):
How do I create a vertical video?
Speaker 18 (35:15):
How do I think about leveraging it to help improve
the algorithm. But what we've really got to be focusing
on today, right is how do we think about the
entire ecosystem I'm playing in multiple universes?
Speaker 16 (35:27):
What is that consumer experience?
Speaker 18 (35:28):
Like I believe this year, instead of when you download
the app and you hit a wall that says pay now,
you'll see in the future people pushing short form content
as a way to discover it's a way to engage consumers,
a new way to engage a conversation. That data from
there begins to inform how I get.
Speaker 16 (35:44):
A cold start?
Speaker 18 (35:45):
So how do when I first go into that experience,
how is it customized for me?
Speaker 6 (35:49):
Right?
Speaker 18 (35:49):
How do I ensure that I'm going to be able
to retain that consumer? Then all those interactions over time
also become part of this greater ecosystem that says, now
I know what to serve you, how to engage you,
how to retain you, and how to reach you on
other platforms.
Speaker 16 (36:02):
And that's really when we.
Speaker 18 (36:03):
Begin to think about the value of what AI can
deliver when it's managed as an ecosystem.
Speaker 2 (36:08):
We've talked a lot about chips and robots and consumer gadgets.
I think it would be really helpful to give your
kind of media and entertainment.
Speaker 4 (36:16):
Experience of what it's been like at CES.
Speaker 2 (36:18):
Very conscious, a lot of the advertisers are here very
conscious that actually the mode which you consume that content
is on display.
Speaker 4 (36:25):
What has it been like for you?
Speaker 18 (36:26):
Yes, for us, as I scussed a little bit earlier,
it used to be very discrete investments that we were
seeing across the AI spectrum. I think today people are
thinking about how do I look at AI as foundational
to the way I operate with my technology and with
my consumers. And that's the big shift I think in
the mindset. And now they're coming to us and looking
for solutions at scale, at huge enterprise, across.
Speaker 16 (36:48):
The multiple ecosystems. That's been the big shift for us.
Speaker 2 (36:50):
We probably should have done this at the start, which
I apologize, but just what is quick play?
Speaker 8 (36:54):
Yeah?
Speaker 4 (36:55):
Yeah, give us the quick play some absolutely.
Speaker 18 (36:57):
So We're at a company that basically builds out OTT services,
so over the top television services, all the back end,
everything from in jests of the time it ends up
on your device, and where we have pivoted right is
how to actually enable that through AI?
Speaker 16 (37:09):
How do you leverage those AI tools to.
Speaker 18 (37:11):
Ensure not only can I create short format a long
form respond to social signals that are happening in the universe.
To be able to say, hey, there's a conversation happening
around bad Bunny appearing on SNL, how do we participate
in that conversation with our content to drive new engagement,
to drive new retention strategies, to drive new acquisition strategies,
but we're also thinking.
Speaker 16 (37:31):
About that entire data fabric to create those experiences that
are hyper personalized.
Speaker 3 (37:36):
Well pastor great speaking with you quick play chief business
officer on all things media and tech. But coming up,
we're going to bring you part of our conversation with
a General Catalyst CEO comment to Nager and how he
sees AI impacting the consumer experience. That's next. This is
brettly BG Tech. AI valuations tricky topic, so says General
(38:03):
Capitalist CEO IM in Teenasia. That's one way that he
put it. We sit down with him here at CES
to discuss his views on AI valuations and whether it's
all hype or not, and some potential ipeos on the
line take listen.
Speaker 19 (38:16):
Valuations are a tricky topic and I feel like they
always provide me right wrong in hindsight. But if you
break down the kinds of companies that get funded today,
there's a ton of dollars going into a handful of
big research projects. Yeah there the valuation.
Speaker 8 (38:30):
Your guess is as good as mine.
Speaker 19 (38:31):
It really is about you know, ownership, and that's enough
to incentivize the teams because they're research projects. You don't
know when they're going to become businesses or if they're
going to become businesses. And then there's companies where they're
real use cases applied AI use cases. There the valuations
sound extraordinary at the moment, but the progress happens so
fast in some of these companies that they grow into
(38:53):
it fast as well.
Speaker 8 (38:54):
So I think it's a nuanced dynamic.
Speaker 19 (38:56):
And what's What's the thing that is confusing for me
A lot of times when I look at these companies
that are growing, is not about are we pricing it
right in the context of their revenue or their revenue growth,
but much more.
Speaker 8 (39:06):
About are they going to be around?
Speaker 19 (39:08):
Are there models going to be smart enough to do
a lot of what some of these companies are doing
and just do it themselves, or are there applied to
which applied the AI companies will be durable on top
of the LLLM innovation that's going on.
Speaker 3 (39:20):
Anthropic you're in that's durable.
Speaker 19 (39:22):
Yes, yes, look first of all topics, you know, I
have a lot of respect for Daria.
Speaker 8 (39:27):
What is accomplished and a team there, it's durable.
Speaker 19 (39:30):
They've built a great set of models, They've been very
capital efficient, and the thing that's interesting is they also
have an amazing set of use cases on top that
are taking hold.
Speaker 8 (39:40):
So it's not just the model.
Speaker 19 (39:41):
Companies also applied AI right, Claude, it's really redefining the
engineering department and just think about the size of that market.
You might use spend on tools and engineers to be
able to build products, and you know, the amount of
progress is like Silicon value companies now code self right
for most of what they do. I think it's a
(40:01):
real transformation with clouds really enabled.
Speaker 3 (40:03):
I know you're very passionate about, like the democratization of
access to some of these companies. Anthropic might go public?
Is that should it be going public sooner? Should the
next round be one that comes to the masses rather
than perhaps going to let another venture or another crossover
round where they remain private.
Speaker 19 (40:20):
Yeah, look, I think the company has to decide that.
But do they have the size and scale to go
public in the next twelve to eighteen months. I think
they certainly can. I think there's going to be a
variety factor they'll have to weigh to decide, you know,
when they think it makes sense to be public, when
they're predictable enough. Because so much is changing in the
market itself and the dynamics.
Speaker 8 (40:40):
It's actually hard to credict growth.
Speaker 19 (40:41):
When we invest in Anthropic, we model a certain amount
of growth. The company grew three times faster than that,
so you know, we look good in hindsight. But we
thought we were just doing a reasonable and in my opinion,
reasonably expensive pricing for that round and end up being
you know, we would look look great at hindsight. So
it's hard to predict, you know, how these companies are
going to scale for a little bit longer.
Speaker 2 (41:03):
That was General Catalysts CEO him On Tenaga, Speaking of IPOs,
Discord filed confidentially for an IPO, according to our sources,
adding to a rapidly growing pipeline of bench capital backtech listings.
Speaker 4 (41:15):
Carol, you broke the story with our mate Bailey Lipshaltz.
Speaker 2 (41:18):
The details are important, right, Like Discord, it's a platform
that I've used, But what do we.
Speaker 4 (41:22):
Need to know here?
Speaker 3 (41:23):
Yeah, because you're a gamer and it all started a
decade ago, and it's really a gaming chat platform that's
morphed into much more than That's got two hundred million
users on average on a monthly basis. They have an
interesting executive leadership reshuffle of last year. They've now got
an Activision Blizzard alumni as the CEO of someone who
worked at King, someone who can really steer the monetization
part of the business now because ez Citra and the
(41:43):
co found has gone over to the board level. But
this really does build this kind of fire feeling of
IPO pipeline. We've got motive waiting in the wings. We
understand there's plenty of others the smaller nature, but we're
talking about anthropic, we're talking about maybe opening.
Speaker 4 (41:57):
It's interesting.
Speaker 2 (41:58):
They're like they have Goldman and JP Moore been working
on it and we understand, right, but last year was
better for IPOs in tech than twenty twenty four.
Speaker 3 (42:05):
Was fifteen billion dollars was raised on US exchanges. That
was book four times the amount that was raised in
twenty twenty four. So can we still teck in to
basically a higher valuation point inn s and P five
hundred and nearer a record high. People want to see
these companies come, but we've got to work out what
valuations they come at. This is a company that raised
in about fifteen billion in twenty twenty one. Twenty twenty
(42:25):
one was a very nice year for valuations and a
lot of companies are having to swallow some think of
Figma in many ways it managed to have a blockbus
for IPO, but still it was always being marked.
Speaker 4 (42:34):
Into previous run versus public right.
Speaker 3 (42:36):
That does it for this edition of Bloomberg Tech Tomorrow,
We've got so many other guests coming on ces. Let's
talk about them. Kind adventures. Joby Aviation is going to
be joining us, and Jacob Helberg of course, a little
bit of government perspective.
Speaker 4 (42:48):
It's fun to be in Vegas. Recap.
Speaker 2 (42:50):
There is a lot to recap. Do it on the pod.
You know where to find it. We keep going. This
is Bloomberg Tech
Bloomberg Audio Studios, podcasts, radio news. Bloomberg Tech is a
live from coast to coast with Carolline Hyde in New
York and Ed Lovelow in Sent Francisco.
Speaker 2 (00:24):
Welcome to a special edition of Bloomberg Tech Live from
CES in Las Vegas. We've been bringing you conversations from
the biggest names in the industry in today we have
another great lineup coming up. First, we sit down with
Jim Johnson, an Intel's client computing group, to discuss the
chipmaker's efforts to make its products competitive again.
Speaker 3 (00:42):
Plus Warner Brothers. It rejects an amended takeover offer from
Paramount Skuydouts. We'll break it all down, and Paul Pastor
of quick.
Speaker 2 (00:48):
Pay will be joined by Mobilized CEO to discuss the
company's acquisition of Israeli startup Mentee Robotics in a cash
and stock deal valued at nine hundred million dollars.
Speaker 3 (00:58):
The deals still getting done, but let's check it on
these markets, which are being ruled by geopolitics once more
than aw's that managing to brush that off a little
bit more than the SMP. Remember we're still now record
highs on the SMP. We're up another three tenser percent
on the main benchmark. When it comes to the tech names,
maybe less affected by what's happening in terms of geopolitics
and Russia and the US at the moment out in
(01:18):
the seas, but we're currently holding on to gaines.
Speaker 2 (01:21):
Geopolitics is always there I'm looking at in video. It
is the mainstay of this CES week, with Gensen one
speaking multiple times. The stock is up almost one and
a half percent in the current session. You know, there
are headlines out right now from the information that China
is asking US tech companies to hold orders of H
two hundred. Gens One's been peppered with questions about H
(01:41):
two hundred for the last three days straight and you
can see over three days this was not the blockbuster
that we thought it would be to start the year.
In video's up half a percentage point.
Speaker 4 (01:50):
Now.
Speaker 2 (01:51):
The big data point was the forecast for the next
few quarters Blackwell and Rubin, and this is what Gensen
one had to say about that forecast.
Speaker 5 (02:01):
Harbor pricing is actually going up in the cloud. All
of the harbors are consumed in the cloud and now
pricing spark pricing is starting to go up, and so
that tells you about the demand that's been generated all
over the world. So age two hundreds, I think is
going to contribute also to that, and I think, all told,
(02:21):
all told, I think we should have a very good year.
Speaker 2 (02:27):
That question was posed to Jenum won by Bloomberg Sean King,
who's covered semiconductors here since nineteen ninety eight, and the
context is that you said to him in October, you
told us over five fiscal quarters, five hundred billion dollars
of sales across Blackwell. And then Reuben, is it possible
that that number could go up? And as we just heard,
there are various reasons why Jensen thinks that number could
(02:49):
go up.
Speaker 6 (02:50):
Yeah.
Speaker 7 (02:50):
I mean fundamentally here, all our audiences care about is
are we in a bubble or not? And they just
want any piece of information, any hint to explain, well,
why we're not. Obviously, what he was saying was there's
lots of things going on. There's new models, there's new
areas of the economy that are coming into AI, and
all of this means that demand is actually better than
I thought it was, so that number is looking like
(03:13):
it's a bit low. So that was good news, but
nobody got that excited about it.
Speaker 3 (03:17):
Where they did get excited is memory storage. Oh my goodness,
Sandusk is up one thousand percent from its lows. It's
up fifty percent in the first three trading days of
the year. In what are you hearing in terms of
this demand for memory and the price point that we're
going to see.
Speaker 7 (03:30):
I mean, as always with the memory ship industry, you
either got a fee storre of famine at the moment.
Speaker 8 (03:36):
We're in a famine.
Speaker 7 (03:37):
When we're in a famine, the price goes up, right,
And that is exactly what's happening right now.
Speaker 3 (03:42):
My demand is basically always has been.
Speaker 7 (03:45):
They can't build factories fast enough, they can't build production
fast enough to meet these short term surges in demand.
So right now the price is going up.
Speaker 2 (03:52):
And we're actually taking storage as well, not just the
high bandwidth memory that goes around the GPU. A point
of discussion on the internet has been autonomous driving. Yeah,
once again, in Video came out strong with autono striving.
You and I was sat next to each other in
the keynote, and you can tell us about Nvideo's offering.
But he's also caught the attention of Elon Musk and
Tesla of course.
Speaker 6 (04:13):
Yeah.
Speaker 7 (04:13):
I mean there was a little bit of a backwards
and forwards between Jensen and Elon about you know, whose
system is better, and most of them ending up praising
what the others doing in the end, because, let's face it,
they need each other.
Speaker 8 (04:23):
But this is the point that we're at.
Speaker 7 (04:25):
We've been promised cars that are robots that can do
their own thing for a very long time. Hasn't happened
as fast as we were promised. And what we're being
told now is we're at the cusp of this. And
this is great if you're making chips, if you're making
the components for these vehicles.
Speaker 3 (04:40):
Cars, robots. Seen a lot of them. I'm going to
continue to see a lot of them. In King we
thank him so much for his decades of work in
the chip sector as well. But let's stay with Nvideo
because of course, ed you sat down with Nvidia CEO
Jensen one and Zeeman CEO Ronn Busch. Do you discuss
their latest partnership the expansion of AI efforts. Just take
a listen.
Speaker 9 (04:59):
We're announcing a big partnership between us. We've known each
other for a long time, but the partnership we're announcing
is really a big deal.
Speaker 2 (05:06):
One.
Speaker 9 (05:07):
We're accelerating their EDA software, We're accelerating their simulation software.
We're integrating AI technology, physical AI and agentic AI into
their team center and their factory automation operating system. And
so we're working together across this entire spectrum. When we
(05:27):
accelerate the software, then we'll get to use it to
design our chips and systems. When we accelerate their simulation software,
we'll use it in our AI factories to simulate the
thermal properties of our AI factories. When we integrate our
automation and agentic systems into their AI industrial operating system,
(05:48):
we can then use it in our factory floors with
our partners, for example fox Con. And so we're working
across this entire spectrum together, and we're going to put
the technology to use basically as soon as we can.
Speaker 2 (06:00):
What's the net effect for you, Jensen, Is it improves
margins efficient capital allocation. I know that might sound a
bit dry, but actually, right now, that's the answer everyone's
searching for. How is this investment in AI and use
of the technology actually changed things in the real world
for me?
Speaker 9 (06:16):
Well, announce yesterday Vera Rubin it takes six different chips
to integrate into this incredible system called Vera Rubin. And
when you're done, each one of these Vera Rubin GPUs
is two hundred and forty thousand wants and it is
ten times more energy efficient than a last generation. It
(06:36):
is ten times more cost efficient than a last generation.
But it's still the technology is insanely complicated. One hundred
fifteen thousand engineering years came together to build this system.
And so when we accelerate EDA tools, when we accelerate
simulation tools, and when we can eventually and I'm hoping
very soon design entire Vera Ruben systems inside a even's
(07:00):
digital twin, the chance the ability for us to create
much much more complex systems, will scale, will do it
much more efficiently. And so this is really about being
able to do the impossible, and being able to do
it impossible the impossible right the first.
Speaker 10 (07:16):
Time, and and and and once they then realize that
AI creates real world impact, this is where it really
deploys the full power and also.
Speaker 6 (07:28):
The economic power.
Speaker 10 (07:30):
It's not only in the data centers are any I
factories which we see, but also on the edge because
once you start influencing with low latency.
Speaker 11 (07:36):
You bring this technology to the edge.
Speaker 10 (07:38):
This is a huge potential for our customers to to
deploy this technology. And this includes of course includes hardware
and where we come from from the gits, it goes
into the controllers.
Speaker 11 (07:49):
Some of our controllers.
Speaker 12 (07:50):
Run on GPUs and then it goes all.
Speaker 4 (07:53):
The way to the industrial PC.
Speaker 12 (07:55):
Exactly, and and the andes are aides supercharge it and
they can now run algorithms trained in the cloud that
can run it on the shop floor and do all
that trick what we talked about it in retime optimization
and running in a planned and that makes a use difference.
Speaker 2 (08:17):
Nvidia CEO Jensen Wang and Semen CEO Roland Bush. They're
starting their own industrial revolution, is how they put it.
Coming up, Intel looks to gain a competitive edge with
new computers and redesigned processors.
Speaker 4 (08:28):
We speak with Jim Johnson.
Speaker 2 (08:29):
Intel Client Computing Group SVP and General Manager. That's coming
up next, This is Bloomberg Tech.
Speaker 3 (08:43):
Intel is here at CES with a slew of new
products from laptops and newly designed chips and it's part
of an effort to be more competitive across its product lineup.
Joining us now Jim Johnson, Intel Client Computing Group SVP
and general Manager. And the way you describe it as
the vibes are good, feeling positive about what you're unveiling.
Speaker 13 (09:01):
Yeah, it's been a long journey to get here and
finally launching. You know, what we think is the most
powerful mobile processor for mobile computing with our new process
Note eighteen A is something the industry has been waiting
for and wondering if we would pull off.
Speaker 3 (09:16):
Okay, for those that aren't deeply within the industry and
coming to your foundry and understanding what's going into this
new processor, the Core Alter series three. What makes them different.
Speaker 13 (09:27):
We took our most powerful mobile processor from last year
and built it on the most power efficient mobile processor
from last year, combining those two capabilities, and so we
run workloads from last year at forty percent lower power
this year on this processor.
Speaker 8 (09:47):
And it's I asked.
Speaker 13 (09:48):
I've been asking, knowing I've been coming here, I've been
asking our customers what would you say? They'd say, super powerful, surprisingly,
power efficient.
Speaker 6 (09:55):
That's what they told me last night.
Speaker 2 (09:56):
So here's the thing, Jim, and with respect AMD and
qual customers would say the same thing. You know, AMD
and qualcom have already been out there this week saying
that their processors and parts, best battery life, best performance,
and they both argue that they're taking share.
Speaker 4 (10:11):
Right, What data.
Speaker 2 (10:13):
Points can you point me to that would evidence Intel's
back in the lead in that market based on this technology.
Speaker 13 (10:19):
I get asked quite often what's the killer app for
an AIPC, And up until this part I didn't have
an answer. But if you're into mobile gaming, we built
a GPU in Series three with an AI capability called
multi frame generation. So you would typically render a frame
and then render a frame in between. You can now
(10:40):
use AI called multi frame Generation. It's quadruple in the
frame rate and super smooth play. So I will take
that system up against any of our competitors. If you're into.
Speaker 4 (10:52):
Mobile games, it is Intel in the lead, I believe.
Speaker 2 (10:54):
So, yes, twenty twenty six is fascinating. Bigger picture, you
have some fore Karta's forecasts. Is I think IDC saying
that the market will shrink nine percent this year? We
have others saying it will grow literally because of AIPC.
Speaker 4 (11:08):
What is your kind of forecast?
Speaker 2 (11:09):
And you know it comes back to the same question
we've had at CES for a couple of years now
is does the AIPC resonate with anyone at the corporate level,
at the consumer level.
Speaker 13 (11:19):
So a couple things. So that is part of the
conversation we're having this week. But the feedback I keep
getting from our customers is keep ramping supply of these
new processors because they believe they're going to win with them.
And from an AI standpoint, another thing that's happened because
we've been deploying aipcs now for two years, we have
(11:39):
the equivalent of forty data center's worth of compute on
the edge, and now we have like Arvin, the CEO
of Perplexity, came and did a talk with me and
he's now figuring out with us how to run portions
of his comment browser directly on the AIPC.
Speaker 6 (11:54):
For four reasons.
Speaker 13 (11:55):
He sees better performance, he sees better security and privacy,
see better cost, but for more importantly, more control.
Speaker 6 (12:04):
So for business they have more control.
Speaker 13 (12:06):
So I'm seeing these big AI companies actually start to
tap into what can they do more locally. Same with
so I guess another thing that happened is edge computing.
I know you've been talking about edge computing between cloud
and PC. We used to sell these parts maybe a
year or two after we launch them into factories and
(12:26):
so forth. But because the Series three process is really
good at perceiving the environment with our visual processor and
doing motor control of factory equipment and robotics, we have
demand on day one for Series three from edge customers.
Speaker 3 (12:41):
So let's talk about the supply. Because you have got
vertical integration, you're actually using your foundries, you are printing
this silicon.
Speaker 13 (12:48):
Yes, and we're building capacity specifically for client and that's
a real value proposition for our customers because they can
depend on us to keep supporting our product lines for them.
Speaker 3 (12:59):
In a way, you are the current of your own
OWL boundary. Why did you go with them not t SMC?
What turned you to think, Okay, these are the ones,
this is the supplier I need.
Speaker 13 (13:10):
There's three things that they did with eighteen A that
it's really impressive. They use the latest UV technology you can.
Speaker 6 (13:15):
Buy tag yousml YEAP, Yeah, that's right, that's right. And
they did two new unique innovations.
Speaker 13 (13:20):
We call it ribon fet or gate all around and
backside power delivery so you can separate power from signals.
We get fifteen percent better performance per w and multiply
that times twenty or twenty five watts in a PC
and we have thirty percent better chip density, and so
that allows us to compact our design, which allows our
customers to compact their design and put in bigger batteries,
(13:44):
and so you get they're now driving all day battery
life to multi day battery life.
Speaker 2 (13:48):
Jim, I think we have to end by talking about pricing.
You know, the background is that memory is an issue
at the moment. How do you manage it? Do you
pass on the cost or whether the storm feast and famine,
sicklical memory problems. You're you've been around right with.
Speaker 6 (14:05):
Respect, it's a conversation we're having this.
Speaker 2 (14:08):
Week, conversation or an acknowledgement that it's a problem.
Speaker 13 (14:10):
Well, it definitely is an issue in the industry. Our
customers are struggling on what they're going to do with it,
and they haven't decided yet. But what they're asking us
to do is keep our build plans solid because in
twenty twenty six they see a chance to really gain
share on the back of Series three.
Speaker 4 (14:28):
We just have a few seconds.
Speaker 2 (14:29):
Does the PC market grow, stay flat or shrink in
twenty twenty six.
Speaker 13 (14:34):
I think it's going to be plus or minus where
it's at now. Some people are much more dire than that.
But we have the same conversation when Terris came up,
and all the predictions, whether really drastic or big pull ins,
they kind of didn't come true. There was something more
in the middle. So we're planning for more in the middle.
But of course we'll react with our customers as we
need to.
Speaker 2 (14:54):
Jim Johnson, Intel Client Computing Group SVP and general Manager,
thank you so much. Up a conversation with Qualcom Cristianamon
on why robotics is the next big thing in AI
and they're not alone in that.
Speaker 4 (15:07):
This is Bloomberg Tech.
Speaker 2 (15:17):
Robotics is the next big opportunity in AI. That's according
to Qualcom CEO Christiano I'm on Carra sat down with
him here at CES in Las Vegas yesterday.
Speaker 4 (15:26):
Listen to this.
Speaker 14 (15:27):
Yes, look, we're incredibly excited about this is a new chapter.
I think of the Qualcom expansion and diversification, I think
we're going to robotics. We like robotics a lot because
by definition, is an edge AI problem to solve, not
different than what we did in automotive. You cannot put
a server in a robot. You need bettery life, you
(15:48):
need a lot of integration as sensors and physical AI
is a massive opportunity and it's an EDGAI opportunity. So
as we look at this transition of qualcom into a
new industry, we went to automore, motive, to PC to industrial,
UH to data center. Now robotics this is the next opportunity.
We actually have a number of robots here at our
(16:09):
booth at CS demonstrating training humanoids Industrial. I think we
started UH the year working with some of you know,
great companies German Kouka, Figure AI, and I think it's
going to be a great opportunity and robotics it's perfect
for you to have high performance computing and low power
(16:31):
connectivity is an edge AI problem and I think it's
going to be the next big wave of AI physical AI.
Speaker 3 (16:38):
How soon is that reality? Already we have robots in
manufacturing and industrials, but how soon is it fully autonomous robots?
How soon do we start to have the humanoid versions
in our houses.
Speaker 14 (16:48):
Look the way we think about this is things that
you didn't find were possible to do with a robot,
you can do it.
Speaker 6 (16:56):
Right now, use an AI.
Speaker 14 (16:57):
I think industrial robot is the big largest opportunity that
we see in front of us, and it's probably starting
as early as twenty twenty six. When you train use
AI to train a robot on one given task, it's
it's a very well defined problem, and you can do
this and you put into production consumer robot, the one
(17:20):
that is going to be in your house and do
everything for you. It's gonna take a little bit of time,
but it's going to happen and it's going to be
a big opportunity. I like to do this parallel that
we saw with automotive when we start talking about autonomous cars,
a lot of companies went in and said, we're just
going to get this full autonomo robotax in, but until
you get there, you can do assist the driving to
(17:42):
every car on the road, assuming that the driver is
there to pick it up. And we've seen in ads
level two, level three highway highway autopilot that's.
Speaker 6 (17:50):
What we're doing.
Speaker 14 (17:51):
I think the same parallel applies to robotics. First, you
have a lot of enterprise in the industrial applications. We
see companies form when retail at night robot go to
the aisles of the supermarket and restuck the shelves.
Speaker 6 (18:05):
Something very simple.
Speaker 14 (18:07):
That opportunity is happening right now. Over time, we're gonna
have the domestic robots that would do.
Speaker 6 (18:12):
Everything for you.
Speaker 3 (18:15):
Carl Concio, Cristiano, I'm on there trying to be a
little bit more realistic about how soon we're gonna have
humanoid robots in our homes. But robotics is one of
the key themes that everywhere here in ces right now book.
Sam Kelly should have been tracking them on the shop
floor should we call it in the time, I mean
everywhere you look as a humanoid, is that your vibe?
And is everyone taking that form factor?
Speaker 15 (18:36):
Yeah, it's so funny. Yesterday I was walking around. I
saw one playing ping pong, one.
Speaker 3 (18:40):
Made me a latte.
Speaker 15 (18:42):
There was a chess robot, you know, and some of
them were on the enterprise side too, showing what it
could be like.
Speaker 16 (18:47):
On the assembly line.
Speaker 15 (18:48):
But yeah, humanoids in particular are really big. This year
we saw during a Quino, LG had its Cloyd robot
come out folding laundry. Lots of laundry folding robots as well,
and I think it shows one thing that's really interesting
is before a lot of these were in controlled experiments.
Of course that's still happening, but companies are now coming
out doing more live demos, which shows a little bit
(19:09):
more confidence, a lot of growth. Also, we've seen some
challenges around hand finger movements. Legs is another challenge.
Speaker 16 (19:16):
So certainly challenges.
Speaker 4 (19:17):
Ahead, dexterity.
Speaker 2 (19:18):
I mean, when we were speaking to Jensen Wong, you say,
you know he labels this the chat GPT moment for robotics, right,
but there are still challenges.
Speaker 16 (19:26):
Oh yeah, Is there.
Speaker 2 (19:27):
Any acknowledgement here on the showroom floor that we aren't
going to see these robots in our homes tomorrow?
Speaker 16 (19:33):
Yeah?
Speaker 15 (19:33):
I mean I think we can see that just by
sometimes looking at a demo and it might take a while,
or even with LG the robot was doing the laundry,
but it took a long time. It was a little
painfully slow. So we're certainly not there yet. And also
just to have it in the home, you have cluttered homes.
Homes are unpredictable. You have to be really careful, especially
with humanoids with legs. You don't want them falling. So
(19:55):
we are certainly very this is not happening anytime too soon, And.
Speaker 3 (19:59):
That's what this is about. This is about pushing forward
the innovations, thinking what's coming in the next decade, maybe
not the next ten months, but some What are you
seeing in terms of health and wellness? Because I'm hearing
a lot about robots, perhaps therefore mental health, full caring
for the elderlady, but you'll see a lot of other
areas what health and wellness.
Speaker 15 (20:16):
Is, Yeah, exactly different form factors. So we're all familiar
with the smart watches and the smart rings, of course,
but now yesterday I saw a toothbrush that predicts signs
of longevity, whether you might be more likely to get
a certain type of disease or kidney issues from a
toothbrush because of saliva is actually a little bit more
of a predictor than just like the skin. Yes, so
(20:38):
the different form factors like that. I saw a longevity
mirror that analyzed my blood flow to predict maybe perhaps
signs of either hypertension down the line or other heart
health things like that. Also a smart night guard, so
people who grind their teeth at night. In addition, it'll
like nudge you so you step doing that. But it
also again with the saliva you're sleep and it'll predict
(21:02):
issues long term issues with your health, but also it'll
tell you how well you're sleeping, sleep tracking, sleep apnea,
things like that. So different types of health is coming
into different form factors.
Speaker 6 (21:14):
That's super quick.
Speaker 16 (21:15):
You've been to many cees.
Speaker 4 (21:17):
Yeah, the vibe relative to prior.
Speaker 15 (21:19):
Years, Yeah, it feels like exciting, you know, to the
point of like a chat GBT moment. People are really
excited to be here and show off different new things.
And I think there's you know, who knows what you know,
this is a testing ground. Who knows what really is
going to happen, But there's definitely a level of excitement.
Speaker 2 (21:35):
You're trying to check out what Sund's been writing about
on Bloomberg dot com write character.
Speaker 3 (21:40):
Yeah, you're going to have a big conversation later. It's
all going to be about health wellness, AURA and particularly
about what well how this goes in sync with the FDA.
Speaker 2 (21:49):
Right when you think about help Tom Hale or a
CEO the ring wearable. I'm not an AURA awarer, but
you know right now they have a lot of questions
about how they go beyond, particularly a female user base.
Speaker 4 (22:00):
To come Bluemosum Kelly, thank you.
Speaker 2 (22:01):
Coming up, we've got a big conversation with Mobile Ized
CEO and non Shahu after the acquisition of a robotics company, Mentee.
It is halftime. We are in Las Vegas. This is
CS stay with us, this is Bloomberg Tech.
Speaker 3 (22:23):
Welcome back to Bloomberg Tech, a very special edition live
in Las Vegas for CES. Let's take a look at
these markets, because look, we are being ruled to this
can extent by fresh geopolitical tension. But not then as
that one hundred we remain in gains up a quarter
of a percentage point. Yes, there's all eyes on Memory makers,
Yes there's all eyes on Video and AMD post some
of their announcements, but we want to put all our
(22:43):
eyes on one particular stock right now. Ed because Mobile
I yesterday had a pretty key announcement a new deal,
a deal to the tune of nine hundred million dollars
combining cash mobilized shares to buy Menty Robotics, and the
dealers expect to be closing the first quarter of twenty
twenty six, we're still in gains up three times percent.
Were significantly off of our hives as the market digests
(23:04):
what this deal really means. We've got a perfect person.
I'm asking what it means. I'm not Shashure has here
with us Mobile I CEO is wonderful TOI some time with.
Speaker 11 (23:11):
You, Sam, wonderful to be with your Carolina Ed.
Speaker 3 (23:13):
Why is it right for you to go from autonomous
driving into the world of robotics.
Speaker 17 (23:19):
Well, Mobilize, an AI company in the field of autonomous
driving driving, says the full spectrum of a computer vision
and AI to control cars and humanoid robotics has been
recognized in the past two or three years as a
complementary domain and Mobiliz wants to it's not only another
(23:40):
growth engine, but from a technological point of view, if
you are an actor in this area of physical AI,
you want to then extend it to the full scope
of physical AI. And I believe that robotics, humanoids, they
have a great future. Now maybe it's a long term
plate that it's not, you know, a year from now,
but I believe it has a significant, exciting future. And
(24:04):
from Mobilize, there's synergetic areas in infrastructure, in AI, in software,
in AI talents.
Speaker 11 (24:13):
So from Mobiliz, this is a great move.
Speaker 3 (24:15):
I mean of course, in many ways, people say you
think that because you helped found menty your son's work
at MENTI help me get comfortable with that because many
have thrown such accusations. Elon must sway sometimes previous acquisitions
and not liked it.
Speaker 17 (24:32):
Well, it's called the related party transaction. Has been done
in the past and will be done in the future,
and there are ways to handle it, like being recused
from decision, which I did and so forth. And you know,
my son has a zero point zero zero zero zero
one percent is just an employee, so it's not a
big deal. You know, he graduated from computer science and
(24:54):
he wanted to do some work and go work for
a company that is very very strong and AI working
on the future of physical AI. So it makes sense.
But you know that is really immaterial. The material part
is the scope of AI. You know, physical AI includes humanoids,
(25:14):
includes autonomous driving, and it makes a lot a lot
of sense. Now, Mobili over the years was always looking
for a new growth engine, right for example, take computer
vision and applied maybe to security areas in cameras and
so forth, But we never found something that really clicked,
found something that has significant modes, that has a significant
teram and humanoids is becoming that click is becoming this area.
Speaker 11 (25:39):
Where are you coming to growth?
Speaker 2 (25:40):
You know, I've been talking for years about you know,
mobilized existing footprint and then it's go to market in
the future.
Speaker 4 (25:47):
What's the go to market for mente?
Speaker 17 (25:49):
Well, we said to go to market in two phases.
The first phase is structured environments like warehouses, assembly plants,
retail where the number of tasks are finite are also
understood in advance. What are the tasks that the customer
is interested. A customer will buy a fleet of robots,
(26:10):
not just one robot, and you can customize per customer
that I think based on pocs that the mentee has
been doing. If you look at the demonstrations that have
been showing like robots picking boxes, moving them from place
to place.
Speaker 4 (26:25):
You wouldessentially just sell the hardware.
Speaker 11 (26:27):
A seller robot, either sell or Lisa robot.
Speaker 17 (26:31):
We believe that the manufacturing costs in a reasonable volume
of tens of thousands of robots would be twenty thousand dollars.
So this gives a lot of flexibility in a business model.
So this is phase one. We believe it will start
in twenty twenty eight. Phase two is unstructured environments like
home use that is much more complicated because the tasks
(26:52):
are open ended.
Speaker 11 (26:54):
You need to continuously learn.
Speaker 17 (26:55):
So it's not that you can prepare yourself to all
the possible tasks in a home home use, so you
need new technology. So it's not that the same technology
you use for structured environments. And this is one of
the things that I showed in my keynote, a technology
that Minty and this is why Minty is called Minty
from mentory. The robot is watching passively watching a human
(27:17):
showing a new task, and.
Speaker 11 (27:19):
The video goes up to the cloud.
Speaker 17 (27:21):
In the cloud, there's a foundation model that takes the video,
moves it into a simulator, trains over the simulator. Today
it's a few hours in the future, a few minutes
goes back.
Speaker 11 (27:30):
To the robot and the robots perform the test.
Speaker 2 (27:32):
Let's go back to your core business and on this
week in video showed us a full stack solution for
autonomous driving. You know, they make arguments that their software
and hardware competencies will make them win your evaluation of
what they're offering against what you plan to do. Costs
for a mile basis, how worried you are.
Speaker 17 (27:52):
I'm not worried competition. I believe it's always good. It
kind of ignites the market. In my keynote, I had
Christian Zenger, the CEO of Folkswagen Autonomously Cars, chairman of Moya,
come to the stage and talk about one hundred thousand
vehicles the next eight years, one hundred thousand robotaxes in
(28:12):
the next eight years. Talked about that we are almost
there in removing the driver, going driver less in Q three.
Speaker 2 (28:20):
Yeah, but are they using mobiliz Yeah, of course this
is clad iron, claud this is a mobilize.
Speaker 17 (28:25):
There are one hundred id bus vehicles in multiple locales.
Speaker 11 (28:29):
All of them is mobilized.
Speaker 17 (28:31):
Tack and we are really on the way of removing
the driver and a very cost effective solution. Our sensor
set is, you know, ten thousand dollars twelve thousand dollars.
Compute is very very cost cost optimized. Mobilized chips are
one tenth of the cost of competing chips. We developed
(28:55):
our imaging radars which are the best on the planet,
those imaging radars. I feel very confident that we are
on our way to a new growth engine.
Speaker 16 (29:03):
With the Robotax your striking deals.
Speaker 3 (29:06):
We understand as us all to make it that you
struck a deal with the nine million cars for safety software.
Speaker 17 (29:12):
Okay, US automaker. There are three to four no pick one.
But I think that this nine million units is a
big news because we are talking about the evolution of AIDAS.
So AIDAS today is a front facing camera. Maybe you
have a front facing radar. This nine million units is
(29:34):
called surround aidas. You are taking a front facing camera,
four parking cameras, multiple radars, a very strong value proposition
to the customer, and it replaces multiple ECUs in the car.
It replaces the aco A parking a CEO.
Speaker 11 (29:49):
Of aed driving monitoring system, hands free.
Speaker 17 (29:51):
Driving on highways, safety functions for the next five years.
So this is the evolution of AIDAS, and it's high volume.
We have two customers in the past year, Volkswagen and
this US customer nineteen million units.
Speaker 4 (30:06):
This is big AI twenty one.
Speaker 2 (30:09):
We're hearing that in Vidia, mister Fong is quite interested
in another one of your companies. He's here this week.
What can you tell us about how talks are going.
Did you manage to speak to Jensen while here?
Speaker 17 (30:20):
You know the Israeli press is not as tight as
the US press, So don't believe anything you read in
the Israeli press media.
Speaker 11 (30:28):
No that there are talks, are talks.
Speaker 17 (30:29):
On Vidia, talks with others, but no, it's nothing even
close to talking about it in the press.
Speaker 3 (30:36):
How do you think Mobile I investors would feel about
an acquisition of AI twenty one by and.
Speaker 17 (30:43):
It has nothing to do or the I twenty one
is working on foundation models and agents, has nothing to
do with activity of Mobilize, activity of Minty Mobili is
physical AI busy man by man man.
Speaker 2 (30:59):
Yeah, the time here at the ces Las Vegas amnon
Shashua Mobili CEO, thank you very much.
Speaker 4 (31:05):
Coming up, we have a whole lot more we speak
with the quick.
Speaker 2 (31:07):
Play CEO Paul Pasta, as Warner Bros. Says paramounts amended
offer remains quote inadequate.
Speaker 4 (31:15):
This is Bloomberg Tech. Warner Bros.
Speaker 2 (31:26):
Is rejected Paramounts Guidancewer's latest amended offer, calling the company's
revised bid quote inadequate and urging shareholders to stay the
course with Netflix. Here discussed the state of media and
streaming is Paul Pastor Quick Play Chief business Officer Paul
also previously held senior executive positions the Discovery Communications and
the Walt Disney Company.
Speaker 4 (31:46):
There's a lot in the sort of structure of.
Speaker 2 (31:48):
The deal that the Warner Brothers Discovery board points out.
A lot of it has to do with the debt
load of the Paramount deal. So there's something interesting in
it that I wanted to pick out, which is, we
don't agree how valuable table networks are. So the street
and the investors would say, actually, they're much more valuable
than you're giving them credit for. Paramount Skuydiance would say,
in our thirty dollars share offer, we don't think they're valuable.
(32:11):
Therefore the thirty dollars a share offer is a great
premium because we want the whole thing.
Speaker 18 (32:16):
How do we value those networks? Gusha was another great question.
I mean, it really is a difficulty to manage. At
this moment, we're talking about a really big shift in
the ecosystem.
Speaker 2 (32:24):
Right.
Speaker 18 (32:25):
We've had these traditional channels around broadcast cable that have
been almost cash cass for these businesses for a long time.
Then the shift of streaming and the ability to build
those businesses with lower margins. Right, but now we're seeing
with price increases, advertising dollars moving in that it's actually
a great value and now a huge shift into this
creator economy and thinking about shormcom content, And then you
(32:47):
have to evaluate those assets against those big shifts in
the ecosystem.
Speaker 16 (32:52):
They still have value, they still.
Speaker 18 (32:53):
Spin off cash, They still can be the home for
reach and advertising, but the real value has shifted the
advertising dollars of did in.
Speaker 16 (33:00):
A new direction.
Speaker 2 (33:00):
Well, we're going to remind our audiences a state of play,
because in a deal like this you get some fatigued.
But Netflix is basically saying we want the streaming business
in the studios, will spin out the legacy networks, paramounts, guidance,
wants the whole enchilada. In your mind, which result would
make most sense for the consumer, you know, and what
they would actually use those platforms for sure?
Speaker 18 (33:20):
Well, listen, I think that there's absolute value for the
consumer and for the shareholders most certainly in a Netflix
Warner Brothers combination.
Speaker 16 (33:27):
Right, you have superior storytelling.
Speaker 18 (33:29):
Capabilities coming from the HBO Max and the Warner Legacy
and their entire library, coupled with what is superior tech.
Netflix has led the industry in personalization, in driving, new
features right and algorithms. That combination is certainly unique. Now
does that mean that's the best consumer I don't know.
Does the storytelling capabilities that are combined with Paramount coupled
(33:52):
with Warner deliver more value into the ecosystem in general
and for consumers overall who get great enjoyment out.
Speaker 16 (33:57):
Of those stories. That's a difficult equation to value.
Speaker 18 (34:01):
But I can most certainly see there's value in the
greatest tech and greatest storytellers coming together.
Speaker 3 (34:05):
Well, perhaps that isn't value for for consumers. Right now
is three companies getting caught up in a lot of
admin and fighting and regulatory discussions rather than focusing on
the business and innovating. How much is that a risk?
Speaker 18 (34:16):
I think this is the biggest risk of any big
transaction and M and A activity. Right, the focus becomes
how do these companies potentially come together? Everybody internally thinks
about what is my role in this transition? And no
one's focused on the fact that they're competing with an
ecosystem that is evolving around them. Right, we saw that
social media platforms are taking over not only viewership but
total ad dollars this year. There is a huge shift
(34:39):
into the creator economy. And if you're just focused on
how do we put these two companies together versus the
competition that is outpacing you with tiktoking, YouTube and others,
you're going to be further behind by the time you
complete this transaction.
Speaker 3 (34:51):
And we haven't even discussed AI yet. And you think
about the big deal that was announced between sous of
Disney and open Ai at the tail end of last year,
is that's my viewing experience is going to be like
going forward? When I turn on Disney Plus, what does
it look like as a screen?
Speaker 18 (35:06):
So I think this is going to be the biggest
piece of innovation we see in twenty twenty six. So
AI for the last year has been about doing discreete projects.
Speaker 16 (35:13):
How do I create a vertical video?
Speaker 18 (35:15):
How do I think about leveraging it to help improve
the algorithm. But what we've really got to be focusing
on today, right is how do we think about the
entire ecosystem I'm playing in multiple universes?
Speaker 16 (35:27):
What is that consumer experience?
Speaker 18 (35:28):
Like I believe this year, instead of when you download
the app and you hit a wall that says pay now,
you'll see in the future people pushing short form content
as a way to discover it's a way to engage consumers,
a new way to engage a conversation. That data from
there begins to inform how I get.
Speaker 16 (35:44):
A cold start?
Speaker 18 (35:45):
So how do when I first go into that experience,
how is it customized for me?
Speaker 6 (35:49):
Right?
Speaker 18 (35:49):
How do I ensure that I'm going to be able
to retain that consumer? Then all those interactions over time
also become part of this greater ecosystem that says, now
I know what to serve you, how to engage you,
how to retain you, and how to reach you on
other platforms.
Speaker 16 (36:02):
And that's really when we.
Speaker 18 (36:03):
Begin to think about the value of what AI can
deliver when it's managed as an ecosystem.
Speaker 2 (36:08):
We've talked a lot about chips and robots and consumer gadgets.
I think it would be really helpful to give your
kind of media and entertainment.
Speaker 4 (36:16):
Experience of what it's been like at CES.
Speaker 2 (36:18):
Very conscious, a lot of the advertisers are here very
conscious that actually the mode which you consume that content
is on display.
Speaker 4 (36:25):
What has it been like for you?
Speaker 18 (36:26):
Yes, for us, as I scussed a little bit earlier,
it used to be very discrete investments that we were
seeing across the AI spectrum. I think today people are
thinking about how do I look at AI as foundational
to the way I operate with my technology and with
my consumers. And that's the big shift I think in
the mindset. And now they're coming to us and looking
for solutions at scale, at huge enterprise, across.
Speaker 16 (36:48):
The multiple ecosystems. That's been the big shift for us.
Speaker 2 (36:50):
We probably should have done this at the start, which
I apologize, but just what is quick play?
Speaker 8 (36:54):
Yeah?
Speaker 4 (36:55):
Yeah, give us the quick play some absolutely.
Speaker 18 (36:57):
So We're at a company that basically builds out OTT services,
so over the top television services, all the back end,
everything from in jests of the time it ends up
on your device, and where we have pivoted right is
how to actually enable that through AI?
Speaker 16 (37:09):
How do you leverage those AI tools to.
Speaker 18 (37:11):
Ensure not only can I create short format a long
form respond to social signals that are happening in the universe.
To be able to say, hey, there's a conversation happening
around bad Bunny appearing on SNL, how do we participate
in that conversation with our content to drive new engagement,
to drive new retention strategies, to drive new acquisition strategies,
but we're also thinking.
Speaker 16 (37:31):
About that entire data fabric to create those experiences that
are hyper personalized.
Speaker 3 (37:36):
Well pastor great speaking with you quick play chief business
officer on all things media and tech. But coming up,
we're going to bring you part of our conversation with
a General Catalyst CEO comment to Nager and how he
sees AI impacting the consumer experience. That's next. This is
brettly BG Tech. AI valuations tricky topic, so says General
(38:03):
Capitalist CEO IM in Teenasia. That's one way that he
put it. We sit down with him here at CES
to discuss his views on AI valuations and whether it's
all hype or not, and some potential ipeos on the
line take listen.
Speaker 19 (38:16):
Valuations are a tricky topic and I feel like they
always provide me right wrong in hindsight. But if you
break down the kinds of companies that get funded today,
there's a ton of dollars going into a handful of
big research projects. Yeah there the valuation.
Speaker 8 (38:30):
Your guess is as good as mine.
Speaker 19 (38:31):
It really is about you know, ownership, and that's enough
to incentivize the teams because they're research projects. You don't
know when they're going to become businesses or if they're
going to become businesses. And then there's companies where they're
real use cases applied AI use cases. There the valuations
sound extraordinary at the moment, but the progress happens so
fast in some of these companies that they grow into
(38:53):
it fast as well.
Speaker 8 (38:54):
So I think it's a nuanced dynamic.
Speaker 19 (38:56):
And what's What's the thing that is confusing for me
A lot of times when I look at these companies
that are growing, is not about are we pricing it
right in the context of their revenue or their revenue growth,
but much more.
Speaker 8 (39:06):
About are they going to be around?
Speaker 19 (39:08):
Are there models going to be smart enough to do
a lot of what some of these companies are doing
and just do it themselves, or are there applied to
which applied the AI companies will be durable on top
of the LLLM innovation that's going on.
Speaker 3 (39:20):
Anthropic you're in that's durable.
Speaker 19 (39:22):
Yes, yes, look first of all topics, you know, I
have a lot of respect for Daria.
Speaker 8 (39:27):
What is accomplished and a team there, it's durable.
Speaker 19 (39:30):
They've built a great set of models, They've been very
capital efficient, and the thing that's interesting is they also
have an amazing set of use cases on top that
are taking hold.
Speaker 8 (39:40):
So it's not just the model.
Speaker 19 (39:41):
Companies also applied AI right, Claude, it's really redefining the
engineering department and just think about the size of that market.
You might use spend on tools and engineers to be
able to build products, and you know, the amount of
progress is like Silicon value companies now code self right
for most of what they do. I think it's a
(40:01):
real transformation with clouds really enabled.
Speaker 3 (40:03):
I know you're very passionate about, like the democratization of
access to some of these companies. Anthropic might go public?
Is that should it be going public sooner? Should the
next round be one that comes to the masses rather
than perhaps going to let another venture or another crossover
round where they remain private.
Speaker 19 (40:20):
Yeah, look, I think the company has to decide that.
But do they have the size and scale to go
public in the next twelve to eighteen months. I think
they certainly can. I think there's going to be a
variety factor they'll have to weigh to decide, you know,
when they think it makes sense to be public, when
they're predictable enough. Because so much is changing in the
market itself and the dynamics.
Speaker 8 (40:40):
It's actually hard to credict growth.
Speaker 19 (40:41):
When we invest in Anthropic, we model a certain amount
of growth. The company grew three times faster than that,
so you know, we look good in hindsight. But we
thought we were just doing a reasonable and in my opinion,
reasonably expensive pricing for that round and end up being
you know, we would look look great at hindsight. So
it's hard to predict, you know, how these companies are
going to scale for a little bit longer.
Speaker 2 (41:03):
That was General Catalysts CEO him On Tenaga, Speaking of IPOs,
Discord filed confidentially for an IPO, according to our sources,
adding to a rapidly growing pipeline of bench capital backtech listings.
Speaker 4 (41:15):
Carol, you broke the story with our mate Bailey Lipshaltz.
Speaker 2 (41:18):
The details are important, right, Like Discord, it's a platform
that I've used, But what do we.
Speaker 4 (41:22):
Need to know here?
Speaker 3 (41:23):
Yeah, because you're a gamer and it all started a
decade ago, and it's really a gaming chat platform that's
morphed into much more than That's got two hundred million
users on average on a monthly basis. They have an
interesting executive leadership reshuffle of last year. They've now got
an Activision Blizzard alumni as the CEO of someone who
worked at King, someone who can really steer the monetization
part of the business now because ez Citra and the
(41:43):
co found has gone over to the board level. But
this really does build this kind of fire feeling of
IPO pipeline. We've got motive waiting in the wings. We
understand there's plenty of others the smaller nature, but we're
talking about anthropic, we're talking about maybe opening.
Speaker 4 (41:57):
It's interesting.
Speaker 2 (41:58):
They're like they have Goldman and JP Moore been working
on it and we understand, right, but last year was
better for IPOs in tech than twenty twenty four.
Speaker 3 (42:05):
Was fifteen billion dollars was raised on US exchanges. That
was book four times the amount that was raised in
twenty twenty four. So can we still teck in to
basically a higher valuation point inn s and P five
hundred and nearer a record high. People want to see
these companies come, but we've got to work out what
valuations they come at. This is a company that raised
in about fifteen billion in twenty twenty one. Twenty twenty
(42:25):
one was a very nice year for valuations and a
lot of companies are having to swallow some think of
Figma in many ways it managed to have a blockbus
for IPO, but still it was always being marked.
Speaker 4 (42:34):
Into previous run versus public right.
Speaker 3 (42:36):
That does it for this edition of Bloomberg Tech Tomorrow,
We've got so many other guests coming on ces. Let's
talk about them. Kind adventures. Joby Aviation is going to
be joining us, and Jacob Helberg of course, a little
bit of government perspective.
Speaker 4 (42:48):
It's fun to be in Vegas. Recap.
Speaker 2 (42:50):
There is a lot to recap. Do it on the pod.
You know where to find it. We keep going. This
is Bloomberg Tech
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