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AI Chipmaker Cerebras Climbs 68% After Year's Biggest IPO

Cerebras Systems Inc. shares jumped 68% in its trading debut after raising $5.5 billion in the year's largest IPO, illustrating investors' surging appetite for artificial intelligence data centers and the chips running them. Shares of the Sunnyvale, California-based company pared earlier gains to close at $311.07 each on Thursday in New York, above the $185 IPO price, after being halted earlier for volatility. Cerebras' first-time share sale raised nearly 60% more than its target when it launched, and priced above a marketed range that was revised higher on Monday. Bloomberg's Ed Ludlow joins to discuss.

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Bloomberg

How Epstein Built His Sprawling Web of Influence

Jeffrey Epstein's emails, appointment books and message logs reveal how the disgraced financier built a sprawling web of rich, powerful and influential contacts. He was a relentless networker, regularly introducing his acquaintances to each other and treating those introductions like business deals always putting himself at the center of the transaction. Bloomberg's Lizzie Fournier joins to discuss.

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Bloomberg

China Renews Import Permits for US Beef Plants as Xi, Trump Meet

hina has renewed import licenses for hundreds of US beef plants, reviving trade in the meat as the leaders of the world's two biggest economies meet in Beijing to stabilize commercial and geopolitical relations. The permits were renewed on Thursday and are usually valid for five years, according to people with direct knowledge of the matter, who asked not to be named as they're not authorized to speak to media. Senator Steve Daines, Republican from Montana joins Balance of Power to discuss.

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Bloomberg

Easing Chip Export Controls Will Fuel China's 'Techno-Surveillance State' Says Rep. Krishnamoorthi

Congressman Raja Krishnamoorthi, Democrat representing Illinois' 8th District joined Balance of Power to discuss the recent meeting with Trump and Xi Jinping and the importance of not easing chip exports to China. Xi Jinping signaled China is moving toward greater openness, striking an upbeat note during his meeting with US business leaders accompanying Donald Trump as the two presidents wrapped up morning talks that featured more divisive issues like trade and Taiwan.

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Bloomberg

US Needs to Take Away Iran's 'Offensive Punch' Says Jensen

Ben Jensen, Director of the Futures Lab and Senior Fellow of the Defense and Security Department at the Center for Strategic and International Studies joins Balance of Power to discuss the conflict in Iran and what returning to kinetic fighting will look like. The US has destroyed more than 90% of Iran's inventory of around 8,000 naval mines, the commander of US forces in the Middle East told lawmakers on Thursday, in a written statement that did not address Tehran's continued control of the vital Strait of Hormuz.   US Central Command chief Admiral Brad Cooper said more than 700 airstrikes had eliminated Iran's "once-massive inventory" of sea mines but he did not disclose how many had been laid in the strait versus destroyed in storage or on vessels.

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Bloomberg

Xi Warns Trump About Taiwan

Xi Jinping warned Donald Trump that Taiwan could lead to "clashes" between the superpowers, calling it a "highly dangerous situation" for the world's biggest economies. Michelle Giuda, CEO of the Krach Institute for Tech Diplomacy at Purdue, joins Ed Ludlow on "Bloomberg Tech" to discuss what this means for the US tech sector and what else transpired from the meeting between the two leaders.

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Bloomberg

Ericsson CEO: To Compete With China, You Need to Lead on Technology

Ericsson CEO Borje Ekholm discusses the company's China exposure, both from a consumer and supply chain perspective, and what he makes of the relationship between the US and China following the meeting between President Donald Trump and China's Xi Jinping in Beijing. Live from the sidelines of the Spark Summit in California, he joins Caroline Hyde on "Bloomberg Tech."

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