Crypto Financial

Dell shares jumped after the company boosted its annual sales forecast by $25 billion in a further sign of surging demand for servers to run artificial intelligence tasks.  Revenue in the fiscal year ending in January 2027 will be about $192 billion, including $74 billion from the sale of AI servers, the Texas-based company said Tuesday in a statement. That's up from an outlook in May of about $167 billion and topped analysts' average projection of $173.8 billion, according to data compiled by Bloomberg. The AI server forecast represents a threefold increase over the prior year. This is the fifth straight quarter that Dell's fiscal year revenue outlook topped estimates. Bloomberg Intelligence Senior Hardware and Networking Analyst said memory inflation is factoring into their guidance.

A pullback in oil prices brought some relief to traders worried about inflation, with stocks and bonds bouncing after recent losses. Sebastien Page, CIO and Head: Global Multi-Asset at T. Rowe Price, discusses the markets and recent moves that have long bonds hovering at multi-year highs.

Rockefeller Capital Management President and CEO Greg Fleming says the broader economy has reasons for optimism, led by artificial intelligence. Speaking on "Bloomberg Open Interest," Fleming also says he sees broad-based wealth creation in the US but expresses his concerns about the federal deficit.

Federal Reserve Chairman Kevin Warsh used his keynote speech in Jackson Hole, Wyoming, last week to map out some of the key data points he leans on to read the US economy, offering new insight into his approach to policy making. Carl Tannenbaum, Chief Economist at Northern Trust, discusses his takeaways from Warsh's speech and what he looks forward to seeing from jobs data this week.

On this episode of Stock Movers: - Uber Technologies (UBER) is cutting about 3,300 roles, or 10% of its staff globally, in a massive restructuring aimed at reducing management layers and reallocating spending into its ride-sharing, delivery and robotaxi businesses. - Dell Technologies (DELL) shares gain after the company's second-quarter results beat expectations and it raised its full-year revenue forecast, supported by strong AI-related demand for its servers. - PG&E (PCG) plans to defer about $2 billion of investments next year as part of a strategic review of its businesses, a move that comes after it said a proposed revamp of California's wildfire response didn't do enough to protect the company and its peers from the cost of such disasters.

Chevron Corp. Chief Executive Officer Mike Wirth talks about the deal to invest $7 billion in Venezuela through a series of joint venture partnerships. It's part of the Trump administration's push to revive the country's oil industry. He speaks to Bloomberg's Tyler Kendall in Caracas.

Chevron Corp. Chief Executive Officer Mike Wirth says very strong legal terms are in place to protect its investment in Venezuela. The Houston-based company is investing $7 billion in the country over the next five years. Wirth speaks to Bloomberg's Tyler Kendall in Caracas.

Uber Technologies is cutting about 3,300 roles, or 10% of its staff globally, in a restructuring aimed at reducing management layers and reallocating spending into its ride-sharing, delivery and robotaxi businesses. Carmen Reinicke has more on "Bloomberg Open Interest."

US Energy Secretary Chris Wright discusses details of Venezuelan oil production and exports, deals signed with Chevron, ENI, and GE Vernova, and offers an update on the Strait of Hormuz. He speaks with Tyler Kendall in Caracas, Venezuela.

Stephen Schork, principal and editor at The Schork Group, discusses the Trump administration's plans to take majority ownership of more than 65 billion barrels of Venezuela's oil reserves. He also looks at refining capacity in the US and the levels of the strategic oil preserve.

Private payrolls rose by 38,000 in August according to ADP research. Economists expected a gain of 47,000. This was the smallest increase since the start of the year. Bloomberg's Michael McKee reports.

Cayla Seder, State Street Macro Multi-Asset Strategist, joins Bloomberg's Vonnie Quinn on "Bloomberg Brief" to discuss her concern around higher Treasury yields and looks ahead to the September Fed decision.