Jackie Reses, co-founder & CEO of Lead Bank, said that she bought a bank so that she could 'disrupt' the banking system from the inside to rework its 'antiquated' financial services. Reses said that more companies are looking to embed financial services into what they do as it becomes more and more embedded across the board in everyday life.
Gene Munster, Deepwater Asset Management managing partner, says there may be no near-term comment or catalyst to restore investor confidence amid scrutiny of AI spending. He describes a divide between "academics" and "visionaries." He speaks on "Bloomberg The Close."
Max Levchin, founder and CEO of Affirm Holdings, says the company is seeing no slowdown in demand from consumers or retailers, despite concerns about squeezed household budgets and a challenging consumer-spending outlook. Discussing Affirm's announced exclusive buy now, pay later deal with Sam's Club, he says the partnership arrives ahead of the holiday season and reflects retailers' interest in Affirm as a way for customers to pay.
Emily Domenech, executive director of the Federal Permitting Improvement Steering Council, said that she thinks there is a 'good chance' that a permitting reform deal passed in the Senate will make it through the House during the upcoming lame duck session. Domenech said that lawmakers from both sides of the aisle have recognized how important it is to make it easier to build in America and it will be crucial and difficult to keep that coalition together in order to pass the bill.
Jeff Sherman, deputy CIO of DoubleLine Capital, joins Scarlet Fu on "Bloomberg Real Yield." Treasuries rallied Thursday as haven demand returned amid concerns about the artificial-intelligence trade and turmoil in the French market.
Jeff Sherman, deputy CIO of DoubleLine Capital, joins Scarlet Fu on "Bloomberg Real Yield." Treasuries surged on Thursday, sending the US 10-year yield back below 5% as investors sought shelter from tumbling share prices for companies leading the boom in spending on artificial intelligence.
President of Romania Nicușor Dan said that Europe was not prepared for the hybrid approach taken by Russia as the region deals with the military 'collateral damage' from the war in Ukraine, as well as targeted cyberattacks. Dan said that recent drone attacks against ships in Romania's territory of the Black Sea are not incidental and believes that Russia is looking to 'escalate' the war and provoke European countries.
OpenAI's model helped identify a potentially catastrophic cybersecurity vulnerability in a programming language that runs millions of websites and applications. Greg Brockman, president of OpenAI, and Matthew Prince, CEO of Cloudflare which helped protect websites before the flaw was publicly exposed join Ed Ludlow on "Bloomberg Tech" to explain how AI is empowering cyber defenders and attackers.
Meta says it will issue a new class of shares as part of a plan to keep CEO Mark Zuckerberg in California if a proposed wealth tax is passed and potentially help fund growth. The credit risk hit a record high after Meta laid out plans to boost AI spending. Alison Porter, portfolio manager for Janus Henderson's Global Technology Leaders Team, explains how the equities market are weighing these factors. She joins Ed Ludlow on "Bloomberg Tech."
Tesla investors are likely to demand a premium in a possible merger with SpaceX, says Ben Harwood, New Street Research senior analyst for technology and space infrastructure. Harwood discusses the synergies he sees between Tesla and SpaceX and why demand for Tesla's full self-driving shows the company has momentum to keep profits growing.
Stocks dropped as a jump in oil prices and renewed concerns about the outlook for the artificial-intelligence trade pushed global investors toward the safety of bonds. George Noble, Managing Partner at Noble Capital Advisors, discusses the outlook for the AI trade and companies like Coreweave and SpaceX.
Meta Platforms Inc. shares fell after Chief Executive Officer Mark Zuckerberg told investors the company would bet even more aggressively on artificial intelligence. Meta Platforms Inc. is giving Mark Zuckerberg non-voting shares that he can sell to cover a tax bill without relinquishing control of Meta. Bloomberg's Mandeep Singh joins to discuss.
