Bloomberg News and Videos — Page 171

European Investment Bank President Nadia Calvino says that Europe needs to put more investment into homegrown AI companies "sooner rather than later." Calvino also says that Europe needs to engage with China and the US on both trade and AI issues. Calvino speaks with Bloomberg's Francine Lacqua during the United Nations General Assembly week in New York.

President Donald Trump says the US rejects "any attempt to construct a globalist scheme" to control artificial intelligence, adding that the US will monitor AI closely but not stifle its growth. Trump also says the government will now refer to AI as "super intelligence." He speaks before the United Nations General Assembly.

Brandon Spencer, President at ABB Motion, discusses ABB's new portfolio of data center racks designed to support the growing power and computing needs of AI infrastructure. Spencer says rack-level power demand is rising dramatically, with deployments moving toward roughly one megawatt at the rack and power needs increasing five to six times from current levels. He speaks with Romaine Bostick & Bailey Lipschultz on "The Close."

Sheila Gulati, Founder and Managing Director of Total Capital and a former leader of Microsoft's Azure business, discusses rising warnings from Sam Altman, Dario Amodei, and others about the AI sector. The segment frames the conversation around whether those warnings should be taken seriously and how they relate to broader concerns about AI oversight. She speaks with Romaine Bostick & Bailey Lipschultz on "The Close."

On this episode of Stock Movers: - Alibaba (BABA) shares are higher this morning after the company rolled out what it calls China's most powerful AI chip and announced plans to expand data center capacity in the coming years. - ON Holdings (ONON) is getting a boost as it expects sales growth in the high teens over the next few years as it moves into sports including golf and football. - Viking Therapeutics (VKTX) shares surged after the biotech released data from its VK2735-102 maintenance study showing VK2735, its experimental obesity drug, maintained up to 97% of weight loss versus 61% for placebo when subjects switched to every-other-week dosing. Leerink analysts said the "stellar" data strengthens the drug's competitive profile.

Investors in the US Treasury market are shifting their focus to owning shorter-dated government bonds, a bet that the Federal Reserve will eventually emerge victorious in its fight against inflation.  Gennadiy Goldberg, Head of US Rates Strategy at TD Securities, discusses how the current rate hiking cycle might evolve and where the 10-year could finish the year.

In an address to the United Nations General Assembly, President Donald Trump said he has a big decision to make on Iran - either make a deal to end the war, or does he annihilate the Islamic Republic. Trump does say he thinks a deal will be made after the midterm election.

Federal Reserve Bank of New York President John Williams says the shift to central clearing for US Treasuries and Treasury-collateralized repurchase agreements is ahead of schedule.

Goldman Sachs Chief US Equity Strategist Ben Snider says investors should not be anxious. He expects S&P 500 companies to report double-digit earnings growth starting next week. He also talks about the AI trade on "Bloomberg Open Interest."

Goldman Sachs Group has emerged as the lead bidder to acquire a credit manager that oversees $37 billion as the bank revs up its dealmaking pace. Sridhar Natarajan reports on "Bloomberg Open Interest."