Steve Westly, founder and managing partner of The Westly Group and a former Tesla board member, says SpaceX will be able to compete with the leaders in AI but it will not be cheap. He speaks on "Bloomberg The Close."
SpaceX's revenue exceeded Wall Street's expectations in the company's first quarterly financial report following its blockbuster initial public offering in June. Elon Musk's satellite, space and artificial intelligence conglomerate reported revenue of $7.8 billion on Tuesday, greater than than the $6.81 billion analysts polled by Bloomberg estimated on average. It also unveiled an operating loss of $1.26 billion from its AI business, which was less than expected. We get reaction from Bloomberg Tech host Ed Ludlow, and Mandeep Singh of Bloomberg Intelligence.
GraniteShares founder and CEO Will Rhind discusses the market reaction to AMD's and SpaceX's earnings report on "Bloomberg The Close."
SpaceX reports revenue of $7.8 billion for the second quarter, topping Wall Street estimates. But Elon Musk's company reported an operating loss of $1.26 billion from its AI business. Ross Gerber of Gerber Kawasaki Wealth and Investment Management says SpaceX is still a compelling stock to own. He speaks on "Bloomberg The Close."
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Carol Massar and Tim Stenovec.
Kate Gulliver, CFO at Wayfair, said that the momentum the furniture company is seeing is the result of initiatives building up over time as Wayfair tries to improve the customer experience. Gulliver also discussed what kind of consumers are buying from Wayfair. She said that the company is seeing momentum from the higher-end consumer with the inclusion of a premium brand 'Perigold' and is drawing in new customers with brick-and-mortar stores.
Jeffries has found new evidence that invoices underpinning its financing to an iron ore trader called Sapphire Minmetals Corp. are fake. This discovery comes after Jeffries was already reviewing its exposure to iron ore trader Radiant World, after reports that documents provided to financers were not valid. Bloomberg's Sri Natarajan reports.
Jefferies Financial Group Inc. has been told that some of the invoices underpinning its financing to an iron ore trader called Sapphire Minmetals Corp. are not genuine, according to people familiar with the matter. Sapphire Minmetals denies the "rumors." Bloomberg's Sridhar Natarajan reports.
Suzanne Maloney, vice president and director for foreign policy at The Brookings Institution, said that she expects volatility between the US and Iran to continue in the coming months regardless of whether or not the countries reach a deal on the Strait of Hormuz and that volatility will be a 'function of Persian Gulf economics for the foreseeable future.' Maloney also weighed in on the US weapons stockpile, saying that she believes that the availability of munitions has been driving strategic decision making for some time.
Bloomberg's Romaine Bosick sits down with Richelieu Dennis, Founder and Chair of The Sundial Group of Companies, as his brand Essence Ventures makes a strategic investment in Revolt's parent company, Offscript Worldwide.
Coatue Management's hedge fund plunged 8.3% last month, marking the latest tech-focused money manager to be whipsawed after a sharp selloff in AI stocks, though sources say the fund is still up 14.3% year-to-date. Bloomberg's Hema Parmar joins Ed Ludlow on "Bloomberg Tech."
Palo Alto Networks is launching a new AI-powered cybersecurity platform designed to help organizations detect vulnerabilities and deploy protections in hours instead of weeks. CEO Nikesh Arora discusses how AI is reshaping both cyberattacks and cyber defense and why he believes enterprises will eventually dedicate as much as 15% of operating expenses to AI. He joins Ed Ludlow on "Bloomberg Tech."
