Bloomberg News and Videos — Page 166

Revenue from artificial intelligence has reached a tipping point, showing that the hundreds of billions of dollars tech companies are spending on it may be economically sustainable, according to a report from research firm Exponential View.  Global AI sales, excluding China, reached $25 billion for hyperscalers and neoclouds in the first quarter of 2026, exceeding the industry's estimated $21 billion in depreciation costs tied to their investments for the second consecutive quarter. Dan Ives, Partner at Yorkville Ives & Co, and Brian Belski, CEO at Humilis Investment Strategies, discuss the AI trade's evolving market impact.

Texas Governor Greg Abbott and Saronic Technologies CEO Dino Mavrookas discuss Saronic's plan to to build a $3.2 billion shipyard in South Texas to build medium-class and large-class autonomous surface vessels. Speaking on "Bloomberg Tech," they also discuss the recent flooding in Texas, the state's economy and Saronic's role in the Iran war.

- Eli Lilly (LLY) shares are moving and shares of companies involved in psychedelic-related therapies are climbing in early trading Thursday as Eli Lilly & Co. agreed to acquire peer AtaiBeckley for up to $3.8 billion including a CVR. - United Airlines (UAL) fell Thursday after the airline reported second-quarter earnings. The airline also said it sees about $6 billion in added fuel costs for 2026 compared with its projections at the start of the year. - General Electric (GE) shares are moving after GE Aerospace raised its full-year outlook and topped Wall Street's earnings expectations, citing robust travel demand.

Can TGI Fridays make a comeback? Global President Phil Broad joined Bloomberg Open Interest to explain why the restaurant chain believes franchising, international expansion, and renewed consumer demand can fuel a turnaround after bankruptcy. He also addresses inflation, food safety concerns and why management sees fresh opportunities in casual dining.

Bank of America Chair and CEO Brian Moynihan discusses concerns about artificial-intelligence models such as Anthropic PBC's Mythos, saying, "You should rest assured we're all working hard on it. You should rest assured it's a serious issue." He speaks on "Bloomberg Surveillance."

Bank of America Chair and CEO Brian Moynihan discusses the continued strength of the US consumer and breaks down the firm's second-quarter earnings. Moynihan also talks about lending and mortgages, inflation, and the role of data and AI within the company on "Bloomberg Surveillance."

Uber Technologies has agreed to buy Delivery Hero in a deal that values the German food-delivery company at $14.8 billion and expands the US firm's global operations. Ed Ludlow reports on "Bloomberg Open Interest."

President Trump's temporary 10% global tariffs are set to expire on July 24, 2026. Still, Mike Froman believes the president is committed to implementing new, long-term levies on imports to the US. Froman is president of the Council on Foreign Relations and former US Trade Representative. He speaks with Bloomberg's David Gura at the Aspen Security Conference in Colorado.

United Airlines CEO Scott Kirby discusses how the company weathered fuel prices spike related to the war in Iran, "incredibly strong" travel demand from customers, and the possibility of further price increases.

US retail sales increased modestly in June as the value of retail purchases rose 0.2% after a revised 1% advance in May. The figures are not adjusted for inflation. Michael McKee reports on Bloomberg Television.