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Bloomberg Money takes the pulse of your financial life, powered by the reporting of our global newsroom. Today's show features: Whitney Tilson, Stansberry Research Editor Stephanie Guild, Robinhood Chief Investment Officer See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Apple debuting its foldable iPhone Duo, with people lining up overnight to get their hands on it first. The new device is in limited supply, with consumers placing new orders on Apple's website being offered delivery at the end of January, and some stores selling out of certain configurations within the first half hour.-Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses OpenAI seeking to raise  around $30 billion in a fresh funding round at a valuation of $1.25 trillion, according to people familiar with the matter. The company shifted the value discussed in the talks by $150 billion, from $1.4 trillion, and fundraising discussions are ongoing, said the people.-Ben Elliott, Bloomberg Intelligence Consumer Finance Analyst, discusses earnings from American Express. According to Bloomberg Intelligence: American Express' accelerating card-fee growth and moderating customer-engagement expenses show the benefit of its Platinum refresh, as higher fees can take up to two years to reach earnings while expenses are recognized faster. Card fees are central to AmEx earnings, accounting for a large portion of net income after substantial rewards and marketing costs.-Tamlin Bason, Bloomberg Tech Litigation Analyst, discusses Infosys earnings. Infosys Ltd. lowered its annual sales forecast as clients continue to hold back on technology spending, signaling that a broad-based recovery in IT budgets could prove elusive anytime soon. Revenue will climb 1% to 2% on a constant-currency basis in the year through March 2027, down from its July guidance of 1.5% to 3%. See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu- Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses Meta earnings. Meta Platforms Inc. shares fell after Chief Executive Officer Mark Zuckerberg told investors the company would bet even more aggressively on artificial intelligence. The company boosted its capital spending plans for the year and announced a new class of nonvoting stock that could be used to help pay for acquisitions and other expenses.-David Welch, Bloomberg Detroit Bureau Chief, discusses Tesla earnings. Tesla Inc. pulled back its spending plans after investment last quarter trailed expectations, with capital expenditures to be around $20 billion this year. The company had been consistently short of the pace needed to hit its spending goal, particularly after a $4.73 billion outlay in the third quarter, with analysts having expected $7.95 billion on average.-Liam Denning, Bloomberg Opinion Columnist, discusses the column: “SpaceX-Tesla Is a Strange, But Certain, Deal.” Elon Musk confirmed that SpaceX and Tesla have formed special committees to examine a potential merger, with Musk noting his personal preference for a deal. SpaceX's quarterly results eclipsed Tesla's, with SpaceX reporting its first quarterly positive net income of $4.4 billion, compared to Tesla's results.-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, recaps Comcast earnings. Comcast lost 144,000 residential broadband customers in the third quarter, more than the 133,000 losses predicted by Wall Street. The company's media operations at NBCUniversal are performing well, with Peacock reporting a 17% increase in paid subscribers and Universal seeing its highest grossing film of all time. See omnystudio.com/listener for privacy information.

Meta Platforms boosted its capital spending outlook and announced plans for a new class of nonvoting stock, escalating its already-stratospheric bet on artificial intelligence. Capital expenditures will be $135 billion to $145 billion in 2026, the social-media giant said during its quarterly earnings report Wednesday, raising the bottom end of the range from $130 billion. The moves show that Meta has confidence that its spending on artificial intelligence will bear fruit. Chief Executive Officer Mark Zuckerberg has struggled to persuade investors to accept the company’s ballooning expenses for ambitious AI bets. But in recent months, Meta has made headway with its technology. Meta shares rose in after-hours trading on Wednesday. They had gained about 6% this year through the close in New York. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with Ed Ludlow, Bloomberg Tech co-host. See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu-Sana Pashankar, Bloomberg Space Reporter, discusses Elon Musk endorsing the prospect of combining SpaceX with Tesla, uniting assets from electric cars to AI data centers to rocket and satellite capabilities. Musk said the boards of both companies had formed special committees to consider the idea of a combination, but cautioned that getting enough support from Tesla shareholders may be tricky.-Matt Henriksson, Bloomberg Intelligence Senior Equity Analyst, discusses Abbott Laboratories planning to spin off its nutrition unit into a separate publicly traded company through a tax-free distribution to shareholders. The new company will have annual sales of about $8.5 billion from its key brands, including Pedialyte and Ensure, and will be led by Daniel Salvadori as chief executive officer.-George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses United Airlines forecasting weaker-than-expected earnings for the final three months of the year due to soaring jet fuel prices. United shares rose more than 4% after the carrier commented on strong operating revenue and reassurance on 2027 pretax margin targets.-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Netflix earnings. Netflix reported its slowest sales jump in three years and forecast a fourth consecutive quarter of slowing growth, amplifying concerns about the performance of the world’s leading online TV network. The company blamed its sales shortfall on the advertising business, which is on pace to deliver $300 million less than expected, and has overhauled its leadership to address a decline in programming quality. See omnystudio.com/listener for privacy information.

SpaceX exceeded estimates for quarterly revenue and profit, driven by substantial growth in its artificial intelligence and satellite internet businesses.Elon Musk’s satellite, rocket and AI conglomerate posted $4.4 billion in net income for the quarter ended in September, far better than analysts’ average projection of $1.88 billion. Revenue increased 161% from a year ago and also beat expectations. SpaceX shares rose in New York after the close of regular trading. For instant reaction and analysis, Bloomberg Businessweek Daily guest hosts Norah Mulinda and Alexis Christoforous speak with: Ed Ludlow, Bloomberg Tech co-host   George Ferguson, Bloomberg Intelligence Global Head of Aerospace, Defense & Airline Analysis See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu-Craig Trudell, Bloomberg Managing Editor of Global Business Coverage, discusses General Motors earnings. GM shares fell as shareholders focused on a narrower profit outlook despite plans for another $20 billion in stock repurchases. The company now sees 2026 adjusted earnings before interest and taxes in a range of $14.5 billion to $15.5 billion, compared with the $14 billion to $16 billion range it projected in July. GM's board approved the new round of buybacks, which will be funded on an ongoing basis over a multi-year period of time, adding to the $29.5 billion already spent by the company buying back its shares since 2023.-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Salesforce agreeing to buy Braze Inc. for almost $5.7 billion in enterprise value, paying Braze investors $47.50 per share. Braze gathers customer data in real time and uses AI to generate personalized messaging for different media and methods of communication, serving around 2,770 customers. The deal is expected to close in Salesforce’s fiscal 2028 and will be used to bolster several of its products, particularly those for marketing and customer communication via Agentforce.-Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Nscale being in talks to sell computing power to Anthropic PBC in a deal that could be worth about $45 billion, according to people familiar with the negotiations. The deal would be for a second facility at Nscale's Monarch data center campus in West Virginia, which would deliver 460 megawatts of computing power using Nvidia's advanced Vera Rubin AI chips. A deal could be finalized as soon as in the coming days, but deliberations are ongoing and details of the plan could change, with Nscale still needing to secure financing to fund the supply of AI chips.-Lindsay Dutch, Bloomberg Intelligence Consumer Hardlines Senior Analyst, discusses Hasbro earnings. According to Bloomberg Intelligence: Hasbro's raised outlook reflects further strength and better-than-expected growth for Magic: The Gathering, while the Consumer Products unit's 4% net sales increase for 3Q keeps it on track for low-single-digit growth this year. Comparisons will be tougher for both in 4Q, with sales growth likely to decelerate. Earnings in 3Q were aided by $55 million in tariff refunds, with margin pressure also likely to resume in 4Q, especially for the Consumer Products segment. See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Michael Ball- Paul Gulberg, Bloomberg Intelligence Senior Equity Analyst, discusses the latest at Blackstone. Blackstone Inc. has raised $8.7 billion for a fund dedicated to cleaner energy, Blackstone Energy Transition Partners V, which is about 55% larger than its predecessor. The strategy invests in a broad range of sectors within the energy industry but generally excludes oil companies, and has already deployed a quarter of its capital into six investments. The new fund has attracted nearly one-third of its money from new investors, with Blackstone committing $150 million to the fund, according to David Foley, global head of the firm’s energy transition business.-Alex Rajbhandari, Bloomberg US Insurance Reporter, discusses the Bloomberg Big Take story: “For Three Buffets, a $150 Billion Puzzle Over Father’s Riches.” Description: The fate of one of the world’s greatest fortunes will be decided — by three very different siblings, living three very different lives, who didn’t expect to be, or necessarily even want to be, the ones doing the deciding. Warren Buffett, chairman emeritus of Berkshire Hathaway Inc., is worth $150 billion, according to the Bloomberg Billionaires Index. Until recently, a longtime favorite of his, Bill Gates, was taking care of giving most of the money away through his behemoth global foundation. Then came the revelations about Gates’ relationship with Jeffrey Epstein, followed by his divorce from Melinda French Gates and the cleaving of the Gates fortune. After the separation, Buffett removed himself from the foundation’s board of directors, but kept sending them checks. This past July, he changed course. Without much warning, Susie, Howard and Peter became much bigger stewards of his fortune.-George Ferguson, Bloomberg Intelligence Senior Aerospace, Defense, & Airlines Analyst, discusses US airlines plan for 4Q capacity growth. According to Bloomberg Intelligence: US airlines' 4Q capacity growth appears too high to achieve the 25-30% higher fares needed to offset elevated fuel costs, constraining profit recovery. At capacity increases well above US GDP growth expectations of 2.1%, it's tough to see fares rise more than 20%, though plans will likely get reduced.-Ed Ludlow, Bloomberg Tech Host, discusses top tech stories. Anthropic PBC plans to put 5% of its shares into a new public benefit fund to address "the public good", including mitigating AI's impact on the job market. The new Anthropic Public Benefit Fund could allow the company to pursue its mission "in new ways", such as using some of the money to address "labor market impacts". Anthropic said the new fund will be a wholly owned LLC and will grow as the company grows, with none of the Anthropic equity held by the LLC used for lobbying or political giving.     See omnystudio.com/listener for privacy information.

Bloomberg Money takes the pulse of your financial life, powered by the reporting of our global newsroom. Today's guests: Wells Fargo Chief Economist Tom Porcelli, Miller Samuel Co-Founder Jonathan Miller, and Brown Harris Stevens CEO Bess Freedman. See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu- David Welch, Bloomberg Detroit Bureau Chief, discusses Tesla holding a product reveal for its long-delayed Roadster sports car, showcasing a prototype with air thrusters that performed aerial stunts. The vehicle, designed in collaboration with SpaceX, features two seats and a Cybertruck-style steer-by-wire system, and is expected to start production in 2028. The Roadster is seen as a way to bring back excitement to the Tesla brand, which has experienced consecutive annual sales declines and criticism over a stagnant product lineup.- Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses Apple. Shipping estimates for Apple Inc.'s first folding phone slipped into January within minutes of the company taking preorders on Friday.  Some customers on social media reported delayed delivery dates for the iPhone Duo, even after taking Apple's recommended steps to speed up the buying process. Apple retail stores ran out of launch-day stock of the iPhone Duo almost instantly after preorders began at 8 a.m. in New York.- Robert Schiffman, Senior Tech Credit Analyst for Bloomberg Intelligence, discusses CoreWeave. CoreWeave Inc. shares plunged 20% in the first three sessions of the week as its debt tumbled to levels that typically indicate distress. The cost of protecting CoreWeave bonds against default rose to the highest intraday level on record, while swaps priced in a more than 60% chance of a default within the next five years. Despite the concerns, some investors and analysts, including Jensen Huang and Deutsche Bank, expressed confidence in the company, citing its strong customer base and demand for AI computing services.   See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Scarlet Fu, Hema Parmar, and Charlie Pellett- Vasu Kasibhotla, Bloomberg Intelligence Senior Industry Analyst, discusses CoreWeave. CoreWeave Inc.'s co-founder said the company's goal is to get an investment-grade credit rating and gain the privilege of borrowing "unlimited" pools of money. The comments sent global markets into a tailspin, with CoreWeave shares dropping 6% in premarket trading on Thursday and its debt due in 2032 being quoted at about 78 cents on the dollar.- Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Anthropic. Anthropic PBC told prospective investors its third-quarter revenue hit $16.8 billion, and the company achieved profitability in the quarter on an adjusted basis. The company is set to begin formally marketing its initial public offering as soon as the week of Nov. 9, and it’s expected to make its debut no later than the end of the year. Investors’ reactions to Anthropic’s update will be critical to the IPO process, with some indicating a fair valuation for the company is in the $1.8 trillion to $2 trillion range.-Nathan Naidu, Bloomberg Intelligence Technology Research Analyst, discusses BIoomberg Intelligence’s deep dive report of cloud gaming. Nathan discusses why cloud gaming is finally becoming credible. BI forecasts the market growing from about $9 billion in 2025 to almost $38 billion by 2035. Cloud gaming adoption stumbled on latency, lagged gameplay experience which ultimately turn gamers off. That will change with better and potentially cheaper compute. Also, gaming is becoming less tied to a physical console: titles can increasingly be streamed across phones, TVs, PCs and handhelds. - Gabrielle Coppola, Bloomberg Auto Reporter, discusses the Bloomberg Big Take story: “VW Wants to Take On Wrangler and Bronco on Their Home Turf.” Volkswagen AG is investing heavily in the US market, which Chief Executive Officer Oliver Blume says is "one big growth opportunity" for the company. The company plans to enter the US market for light trucks and offroad sport utility vehicles, with projects including a software venture with Rivian Automotive Inc. and the revival of heritage brand Scout. Volkswagen aims to field a midsize pickup and an offroad SUV to compete with established US franchises such as General Motors Co.'s Chevrolet Colorado and Ford Motor Co.'s Bronco. See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Scarlet Fu and Stacey Vanek Smith-Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, recaps U.S bank earnings. Bank of America Corp.'s stock and fixed-income traders missed estimates, with bond-trading revenue falling 17% to $2.55 billion and equity trading up 10% to $2.51 billion. The company announced a $1.2 billion non-tax-deductible charge for fines related to money laundering and sanctions violations, which cut into net income by 17 cents a share.-Matthew Palazola, Bloomberg Intelligence, Senior Analyst, P&C Insurance, discusses shares of Bending Spoons surging as much as 55% after Berkshire Hathaway Inc. agreed to invest an additional $330 million in the Italian technology conglomerate. The investment brings Berkshire’s stake in Bending Spoons to 4% and gives Bending Spoons more capital to pursue acquisitions. Bending Spoons will issue 10 million ordinary shares to Berkshire at $33 apiece through a private placement, according to a statement Wednesday.-Geetha Ranganathan, Bloomberg Intelligence Analyst, discusses Netflix job cuts. Netflix Inc. is cutting 6% of its global staff, or about 1,000 positions, due to slowing growth. The cuts will be in the product, tech, legal and human-resources teams, according to an email from co Chief Executive Officers Greg Peters and Ted Sarandos. Netflix's business is "strong and growing, and we remain on track to deliver our full-year forecast," the executives wrote, despite concerns about growth and weakening subscriber engagement. -Tamlin Bason, Bloomberg Tech Litigation Analyst, discusses Apple and OpenAI heading to court for a hearing in Apple's lawsuit accusing OpenAI of scheming to steal proprietary information about upcoming products. Two critical issues are on the agenda: Apple's request for a court order to stop OpenAI from using allegedly stolen trade secrets and OpenAI's demand to dismiss Apple's lawsuit entirely. OpenAI has denied the allegations, arguing that Apple's lawsuit is an effort to restrain employees from leaving for a competitor and that the company seeks to cast "ordinary job interviews as acts of trade secret misappropriation."     See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Scarlet Fu  and Alexis Christoforous-Herman Chan, Senior Analyst, US Banks for Bloomberg Intelligence, recaps U.S bank earnings.Goldman Sachs Group Inc.'s equities traders reported revenue of $6.44 billion for the three months through September, beating the expectations of analysts.JPMorgan Chase & Co. reported a surprise drop in fixed-income trading revenue in the third quarter, the first such decline in more than two years.Citigroup Inc.'s fixed-income traders had their best third quarter in at least a decade, with revenue of $4.4 billion.Wells Fargo & Co. reported third-quarter results that topped Wall Street estimates as consumers and businesses held steady, keeping loan losses in check.-Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses earnings from Domino’s Pizza and his outlook for Jersey Mike’s. Domino’s Pizza Inc.’s US same-store sales grew 0.3% in the third quarter, below the 0.7% Wall Street had expected. The company faces an uphill battle as budget-conscious consumers eat out less and favor chicken amid the “proteinmaxxing” trend.Also, according to Bloomberg Intelligence: Jersey Mike's combination of strong sales growth, 10.4% in 1H, and a 99% franchised system is unique to the restaurant sector, positioning the company to outperform most quick-service peers on the top line and most fast-casual competitors on the bottom line amid inflation.-Deborah Aitken, Bloomberg Intelligence Luxury Goods Analyst, discusses LVMH earnings. Sales at LVMH's biggest division slumped as worsening economic conditions and a consumer backlash in China hit its key Louis Vuitton brand. Revenue at the fashion and leather goods unit slid 5% in the third quarter on an organic basis, a bigger decline than analysts had forecast. LVMH Chief Financial Officer Cecile Cabanis said the backlash from consumers over the Molly Tea case "had a negative impact, at least at the beginning of the quarter" on Louis Vuitton sales.-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses the latest at Netflix. Netflix Inc. secured exclusive broadcasting rights in Spain and Andorra for the men’s FIFA World Cup in 2030. Terms of the deal that includes all 104 matches weren’t’ disclosed in the company’s press release. Also, according to Bloomberg Intelligence: Netflix's 3Q results may do little to quiet the engagement debate even if revenue lands near guidance. See omnystudio.com/listener for privacy information.

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Intelligence hosted by Scarlet Fu, Stacey Vanek Smith, and Norah Mulinda-Redd Brown, Bloomberg Consumer Reporter, discusses Starbucks saying it’s not buying Chipotle Mexican Grill, tamping down speculation about what could have been one of the restaurant sector’s largest-ever deals.Separately, Redd talks about how California vintners are experimenting with making an American version of tequila due to a drop in wine consumption and state-imposed water restrictions.-Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses top tech stories. According to Bloomberg Intelligence: AI data-center spending is scaling faster than we expected, with higher hardware content and a broader mix of operators pushing more capital toward compute, memory, storage and networking.Separately, Mandeep also discusses how Microsoft is installing the latest version of its Maia chips in data centers to power its AI software using mostly homegrown hardware.-Niraj Patel, Bloomberg Intelligence Senior Software Analyst, discusses research on how AI is influencing software sectors. According to Bloomberg Intelligence: AI agents are evolving from prompt-based assistants into persistent systems that reason, use tools and execute workflows, putting application software's user interface and distribution at risk while expanding opportunities in agent infrastructure and coordination. See omnystudio.com/listener for privacy information.

Bloomberg Money takes the pulse of your financial life, powered by the reporting of our global newsroom. This week's show features Peter Orszag, Lazard CEO & Chairman, Anastasia Amoroso, Chief Investment Strategist, Partners Group and more.  See omnystudio.com/listener for privacy information.