caroline: we are 30 minutes and so the u.s. trading day. chair powell to the rescue, the fed reassures markets that rate cuts are on the way as investors turn to u.s. payrolls tomorrow. cashing in on aia, how google is said to be thinking about charging extra for ai web searches. ai engineers and wing the appetite of the u.s. consumer. the ceo of the hottest restaurants and how people are digesting their own economic environment. ♪

caroline: welcome to bloomberg markets. a quick check on these markets, we are near record highs and we hit them earlier 30 minutes in but the s&p 500 up 0.7%. the easing with which we suddenly get the relief pill from the federal reserve, we will talk about that and that helps the nasdaq 100 up 0.9%. we are starting to see yields pushed out a little bit more, up by two basis points. but more broadly, we are seeing a risk on flavor to the day even as we see commodity pressure building a little bit. we are focused on equity throughout the day in the macro policies that will be impacting benchmarks. u.s. jobless claims arising above estimates today and maybe you would share the cooling of the economy that many want to see as jay powell says rate cuts are on their way.

michael mckee is joining us with a line the jay powell has to walk, they need to 2% and the inflationary pressures to dial back and many have been seeing a hot economy with interesting jobless claims mike: mike: playing into that today. not a whole lot, it was within a range. it's not telling us the market -- the labor market is really falling apart. we will get a good look tomorrow as to where we are. powell has said the same thing now twice, last friday and yesterday, we got two different market reactions which is funny because what we saw on monday when the markets reopened was a gap lower but today, we're seeing stocks back near record highs. jay powell didn't change his view. the fed has said we will not see anything on may 1. how soon afterwards and what will it take? we've got a lot of fed speak coming up that will add to what jay powell has said. we have seven fed speakers today. we have six more tomorrow.

if you don't know what the open market committee is thinking, you should by tomorrow night or have a good idea of where we are going. i would imagine it will echo the jay powell who says we are not ready yet but maybe later this year. they will talk about the employment numbers and the inflation rates and we get a lot of that between now and the june meeting with may be the first rate cut if things go their way. we've got three made just labor market reports and three cpi reports into pce report so keep an eye on the data and we will have to see what ends up happening. caroline: whether we listen to the rap file bostick's or get more dovish from some of the other players. i'm interested in what's happening more broadly with the economic perspective of the u.s. economy when we look at the jobs number coming out tomorrow.

how much do we think that might be a risk on/risk off moment? mike: probably not huge risk off unless we get a surprise upward down if we go much higher than the 220 or so we've been averaging that markets will get nervous about no cuts. if we go much lower, then it raises the question of will they move up the idea of cuts because the economy is slowing down. there doesn't seem to many reason to think we won't get something in the range of what's forecast at the moment, 213,000 and 3.8% unappointed rate. it will be interesting to see if that string gets broken. caroline: we will wait and watch to see the numbers tomorrow. there is a whole host of fed speak you outline for us. great to have your voice on the show. we are turning to the markets more broadly now. the black rock chief investment strategist is with us. when i look at the risk on, we're back to almost record highs across the benchmarks.

how much do you have to see a few more jobless claims dialing back a little bit and the fact that we are piling up in terms of the overall view that the jobs market is not cooling substantially but at least coming off of its highs and the inflationary pressure is starting to dial back as well? >> it's great to be here, thank you for having me. there are a couple of things that will drive the markets going forward. the most important thing will be the inflationary pressure. so far, chair powell has responded really well to the slightly stronger prints we saw in january and february. we don't want the central bank that's overreacting to one or two data points. he is not doing that. i think especially with the rising energy prices that we have seen of late, if we continue to see the sticky services as well as higher headline inflation from energy prices, i think that's what the market is going to take seriously both from the rates

perspective on the fixed income markets as well as other markets. caroline: copper has been at more recent highs even though it pulls back a little bit today. tell me where you think the driving of the benchmarks will come from. we have all been enamored with the fact that it's basically nai story late but how much is this spilling over more broadly? >> we came up with our second quarter outlook. the thing we are talking about their is that the macro so matters. even though it might at first glance look like it doesn't because equities go up when rates go down. when we look under the hood, what's driving markets is the incredible earnings growth and on the rates front, if the smaller caps area of the market that's responding more to the macro. as we look ahead, what will drive markets, on the bond side, the income you can get in fixed income is incredible.

owning things like the belly of the curve with tickers like igs gsp that gives you 1-5 your corporate reddit or bing which is our active way to go into the harder to reach areas in the fixed income market but on incredible income, we think that is super important. on the equity side, it's all about elegy and earnings grow so that's what i think investors should focus on. caroline: the earnings growth is only limited to technology name so does that start to broaden out? >> i do think in march, we did see the beginning of the broadening out that investors have been looking for. all eyes are now focused on the earnings season that's upcoming. we are already talking that a few areas of laggards that can catch up and financials is one area of the market where we think the catchup trade will happen. we begun to see some of that expansion already. i still think we need to keep

our eyes on tech and communication services which are those quality areas which have the earnings growth that have the free cash flow. that will continue to work but i also think there are pockets you can find in the more value-oriented, especially financials, that we think and continue to do well in the next few months. caroline: when you talk to clients come how much are they seeing an opportunity of remaining america focused or more international? >> we've been talking about this with clients a lot, that the two biggest opportunities outside of the americas is looking at japan and india. these are the two that have done well especially japan given all of the historic moves but there is a trio of tailwinds for japan that have come through and will continue to come through. if you are an investor that has that quality of growth and you are looking for a little bit of a diversification, why not consider something like ewj in

your portfolio when you have a central bank there that's finally beginning to raise interest rates into positive territory. you have the area of the market that is so underwhelmed. most u.s. investors and even japanese investors are under owned in japanese equities if you look at some of the holdings mostly for japanese households and that's in cash. having that tailwind in your favor and the corporate reforms are taking place being the trio of tailwinds, looking at japan and then india is a demographic story. it's an infrastructure story so we really like those as non-u.s. exposures that investors can gravitate towards and work both in the short and medium-term. caroline: i love how the global perspective is that you can give us. let's take a quick look at what's moving now on the markets more broadly.

we can look at the micro perspective and a big win. >> bob iger is winning a proxy fight in a long one against nelson peltz and that's affecting disney stock which is not moving as much they but the stock to drop over 3% yesterday. over the last two days, it is in positive territory. the headaches aren't over bob iger. the company is now facing questions on who will be the next ceo. they are also dealing with reviving a struggling movie business and turning a profit in disney's streaming division despite all that, the stock for disney is still up over 31% year to date. at least right now, we can call this a victory for bob iger. caroline: and for peltz as he gets the benefit of that rally. move us onto where we saw anxiety yesterday. we had a devastating human tragedy in taiwan that impacted the chip stocks but today, there

seems to be a relief rally. >> i'm looking at the adr for tsmc which is the leader of advanced chips and that company says it's restarting operations less than 24 hours after that earthquake hit taiwan, one of the worst earthquakes in over 25 years. that stock is now up over 2%. i'm also watching that because traders should be looking out for any headlines but jenna and -- that janet yellen makes about the semiconductor industry enter visit to china. that's the second one and nine months and that stock is still up, beating the s&p 500 year to date and there is a lot of optimism for the semiconductor sector. caroline: it's a hint on any further tariffs that might be seen across industry groups. move us onto the commodities rally. how is that impacting equity names? >> exxon has been basically on a

vertical line up over the last few weeks. in the last six days, it's been a positive territory and now it's flat after the opening bell but still up 19% year to date in part pushed by the higher oil prices. the company actually announced yesterday that they expect their first quarter earnings will likely be lower than the prior three months due to falling oil and gas prices, perhaps before the most recent run up in oil prices which is where the earnings are coming from. they said their upstream division will take a hit of as much is $1 billion for lower oil and gas prices. they said that in a filing wednesday so we will have to watch how the earnings shakeout and how that measures up with the recent run in oil prices and what perhaps is happening during the prior earnings quarter. caroline: great to get the look across the different groups. coming up, pay rises, google

turns up the heat next. this is bloomberg. ♪

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caroline: a battle for ai dominance heats up daily in the tesla ceo says he's been boosting pay for ai engineers to fend off a war as it advances against openai. the financial times is reporting that google is considering charging users a fee for web searches powered by artificial intelligence. manddep singh is following all of this. start with google and

potentially charging more for its ai services. we already have google one and its ai offering. what more would this be? >> the best parallel i can draw is with youtube. youtube started off as a premium model. they built on ads and clearly, they got a 30 billion dollar business out of it but look at the ramp up of the subscriptions business, the premium and youtube tv. what they done is monetized their user base and a much more effective way with the subscription program. i'm not sure if they will do something similar here with gemini because it can be part of the bundle and it will influence all its products but we know the gross margin profile of inferencing is a lot lower than the traditional search. if google was to apply genai search to all its searches, they will have to take a big gross margin hit. subscription allows them to

leverage their base in a way where the new features like summaries and image video editing, the ones who are heavy users of that have to pay for that. i think that's what they leaning towards. caroline: there's breaking news coming out of reuters that alphabet is in talks with advisors to make purchases of the marketing software company hub spot focused on sme offerings. why would they buy a $30 billion company? >> there is a race right now going on in terms of deploying your llm's at the enterprise level and enterprises are key not to move their data out of their systems. i think this is one way to bridge that gap area it's a company that already has enterprise customers. they can deleverage and deploy gemini in a way where it's valuable to enterprises and offers them incremental functionality. microsoft with ai partnership is doing the same.

there is that race between microsoft and alphabet and alphabet has that gap when it comes to the -- caroline: caroline: to the side. we haven't even gotten into the talent war of elon musk paying for ai engineers. there is a great happening tonight and generative ai and you can tune into that. we've got the openai coo coming on at 11:30 a.m. let's get back to black rock about the implications of this ai hype or reality. when you think about the m&a and think about the spending these companies have to do as well, does it feel you have to be in the infrastructure, the chip names or move out where the implications happen in other industries. >> i think this is just the beginning. i think there will be absolutely so many opportunities through

the stack. right now, i think we are obviously going to some of the chip names and as time goes by, we will think about how investors and you and i as consumers can benefit from science, from financials, from industrials, how those medical services are all going to benefit from ai. i think this is just the beginning and we've seen the move in a few names in a massive way. that is likely to continue around, around how much many of these large companies have in free cash flow that they can take input back into research and development. that is what will grow earnings, that's what will keep margins really stable or increasing and i think that will be meaningful for earnings growth. over the course of the next few years, i don't think this is a 2024 story, we will see this across different industries and different sectors of the market.

this is definitely a long story for us to watch. i think the way investors shouldn't about this now is looking at those quality companies looking at semiconductor companies as well, trying to play that ai trade which we think is here for a while. caroline: after more than a 200% increase in market cap and share price for nvidia last year, another 70% this year, ultimately it still has a forward pe value of only 36. that speaks to the earnings potential. how much do you need to see the proof and the pudding's of earnings happening for these names? >> and some of them have declined because of the earnings be so dead being so solid. we will continue to talk about this and i don't think that is the only driving force in the market. it's exciting to get but up in and talk only about that but especially coming into the next few days, the market is looking at what payrolls bring for us and cpi and of course thinking

about what the fed delivers later next month and how they deliver the message of when the rate cuts are going to start. all of that is also important perhaps not more important but also important in terms of determining how we find value in both bonds and stocks in this market. caroline: you were looking at the banks and financials and they always tend to kick of earnings nowadays. i'm interested in how confident you are around the u.s. consumer to be able to allocate into a financial institution. >> the database and what we have so far, the u.s. consumer looks pretty solid. what are some of the measures we look at? we look at the personal income and spending rates, we look at the savings rate of the consumer and we look at how consumers are able to access credit so the borrowing and lending standards are important. they are not at their best levels, there has been some deterioration especially given

the delinquency rate pickups in some of the corporate measures we watch and i think what's concerning for the fed is that some of the delinquency rates are picking up for the lowest income workers. i think that is certainly something we should watch out for. it's a big driver of why he believed the fed will cut rates this year. however, if you look at the consumer, i still don't see many worrying signs. they've slow down a little bit but is this something that's worrying? no. how this progresses from here is important. if we all believe the fed can actually engineer the soft landing which that we think they can and be able to deliver two or three rate cuts, that's a great outcome for investors in equities and investors in bonds. i think we will get a little bit concerned if the next move from the fed actually has to raise interest rates for some reason.

obviously, this something that could be a little bit more concerning but that's not air base case now. caroline: so good to have you here, thank you very much. still ahead, we will take a look at companies making the most buzz today, that's in social climbers. this is bloomberg. ♪

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so you can be happily fulfilled... which is pretty un-boring if you think about it. caroline: time now for social climbers, look at the stocks making waves on social media this morning. a popper levi stuck as consumers double down on denim and they are reporting a higher than

expected profit in the first quarter and the ceo has said more customers are buying directly from the retailer instead of macy's and kohl's. next up is blackberry reporting it surprise fourth-quarter profits. they have higher profile hot packs that are becoming more prevalent in amazon announcing its cutting hundreds of jobs in its computing unit. sales have slowed to a record low last year. the cuts come about a year after amazon held its largest ever round of layoffs and olympian -- and eliminated 27,000 positions. you can follow the latest company buzz ontre and trend go. coming up, his pessimism souring your dinner plate? we will talk about the state of fine dining next. the major food group ceo is joining us. this is bloomberg. ♪

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caroline: we've got to get you up to speed with near record high markets across the benchmarks. abigail doolittle has it all. abigail: after a couple of days of a pullback, we have stocks trading higher. the s&p 500 is up 0.7% up for the second day in a row with small gain yesterday but today we have more heft to the buying power. some of it has to do a technology but some technology shares are also trading lower. we have apple and microsoft to the upside. apple is in this correction, down more than 10% from last year's high.

the headlines are coming out over the last 24 hours that they may be looking into a home robot and that could be the next big thing. that would drive the stock not that much because it would take a while to move into the numbers but investors seem positive. microsoft is the same but land weston has a little bit of a downtime as well as alphabet. they are thinking about buying hub spot the crm software company and that stuck his up sharply. put that together with the nasdaq 100, we've had this monster rally at of the 2020 lows. what we will see is interesting because it's a different version of a range that apple has been trading. you can see the big range in one big reason we use the trendline is not to see the trend. you want to use the trendline

because you can see when the trend starts to break. you would see that the trendline has started to break here and the nasdaq 100 when into a correction. the trendline is trying to break in a series of lower highs suggesting that there could be some weakness ahead. we are entering into earnings season so let's take a look at the two year yield. despite the fact that we have investors hoping for three cuts this year, the two year yield over the last year is up a fair amount and close to 470, not far from the important 5% level which could be a deterrent for investors but right now stocks are higher. caroline: always the perfect round up, we thank you so much. coming up, we will hear from ray dalio, so much to talk in terms of politics and where to asset allocated in the environment. this is bloomberg. ♪

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abigail: this is bloomberg markets. coming up, an interview with levi strauss ceo michelle gas. this is bloomberg. ♪ caroline: time for our wall street week daily segment. ray dalio says 2024 is a pivotal year. he spoke with david westin yesterday. david: >> the rise of populism on the left in the right at a greater extremes so much so that we question the system because that polarity is the picking of people who will fight for me at all costs. it's a threat to democracy, it's a threat to compromise and it is a certain dynamic that comes

along like once-in-a-lifetime. david: you even write there's a 50-50 chance of civil war. is that right, 50-50? >> let me define a civil war. you have a situation where you have irreconcilable differences so that there becomes a failure to follow the rules. in other words, let's take january 6. you could see a situation in which you don't accept the results. we are getting more and more not only just at the election but even in decision-making as the state of texas deals with the federal government on issues or we had sanctuary city issues where there may not be agreement on that. these irreconcilable differences like on children and sexuality in education, how should that be? these are not compromise about

issues. that greater and greater extremism is an issue. when we come to this election period, how will will get through that and how will we work together in an effective way or will it be even so chaotic that we start fighting with each other? when i say we are on the brink, i think it's safe to say we are accurate to say that some of these questions exist and we will find out in a year how well we can be together and not only the conflict but how effective can we be? we will find that out over the next year. david: you been the first weight -- the first one to say that has far-reaching social consequence but real economic consequences because so much of our business is based on the rule of law that we all except the authorities.

if that were undermined in the united states, i think it would have a chaotic affect the densely on financial markets and corporations. >> of course it would and the world is asking those questions. the united states used to represent the beacon and in many ways, it has so many of those attributes. they are dealing with the fighting and internal chaos in the disorder in the trust in leadership. that has implications of what assets hold, do they hold treasuries and so on? then we will come into a period of time where the policies will be dramatic influences. will we have 60% tariffs on some imports? all of these issues, taxes, we will now have a conflict in each party has the moderates and the extremists, both parties do so as we come to this conflict, how

that plays out will certainly be important in all dimensions of our lives. david: there is a lot of concern about the debt deficit and we have leveraged up and you talk about a long-term debt cycle starting perhaps in 1945 were retaken on more and more leverage. at what point does that become crippling? will we have to do something in the fiscal side? >> there are two constraints to debt. you cannot get deeper and deeper in debt and spend without consequences because when you borrow, you have to pay back in the question is do you pay back in hard money or in cheaper money that's printed? you see these two factors. the first is the debt service squeezing expenditures because as debt rises in interest rates rise, debt service as a percentage of your spending

rises. that squeezes out other types of spending so that's a mechanical thing and that works that way. we can see it happening as we project over the next five and 10 years. it becomes more and more apparent. i won't get into all that but the second is that is that becomes more apparent, and you have a situation where holders of the debt may not want to hold the data. when man's debts are another man's assets. if there holding at debt assets that either they feel they cannot be well paid back or will be monetized, you don't want to hold that. when debt rises as a percentage of income and interest rates have to be high enough to satisfy the creditor without

being too high to hurt the debtor, that balancing act becomes more difficult and the key point is when the selling begins. when that selling begins, then it becomes a self enforcing problem because you lose money on that. caroline: ray dalio with wall street week owes david westin who joins us now. he's not afraid of bold statements? david: it makes you want to buy canned goods. it might be helpful to have the context. he actually asked to, because he had been on back in 1982. he said to me that he made the biggest mistake ever and he publicly on tv and he almost lost his company as a result in the wake of the mexican sovereign debt crisis where he said it's all going south and we will have a depression. he bet that way and was wrong. you have to put this in the context of he wants to think the

unthinkable because in the past, he's made a mistake by not thinking it. caroline: when we potentially put a probability of 50-50 on what he defines as a civil war, i want to lean on your political expertise here. is that individuals and government that make us divisive? david: it has to be in we see that every single day. that's part of perhaps why they are so divisive because they get so much coverage. he's right about that. the question is how you bring it back together. on the question of the debt and the deficit, a lot of people say whoever is president will have to deal with the fiscal situation coming up. it's one thing to borrow an awful lot of money when the interest rate is close to zero but it's another thing when it's at 5%. as he just talked about come and start to encroach on how you can spend year to year. caroline: and if the bondholders are foreign and potentially the chinese involved in that.

david: do you have to make sure you are faster than the next guy to outrun the bear? as long as we are not as bad as some other places, that's been sustaining. being the reserve currency doesn't hurt but when does it change? caroline: tell us who you've got coming up because that was a big guest. david: we were going to have neil ferguson on serta the same subject about geopolitical crisis and how an investor as to account for that. he wrote a book called doom. caroline: back to canned vegetables. david: we will talk about what his take is and what investors opposed to do given the geopolitical uncertainty. caroline: it's always a joy, thank you. this is bloomberg. ♪

caroline: let's talk about the

consumer for a moment. confidence is holding steady in march but there is a sense of economic pessimism being on the rise despite the fact that inflationary pressures have been dialing down some. let's see how that affects actual consumer behavior. we have the ceo of major food group. you know his restaurants. going into the world of membership clubs in high end, it is fantastic to have you with us. i start with the consumer. have you seen resilience and a desire to keep spending or any cautiousness? >> we've seen an incredible resilience amongst our customer base and amongst our restaurants, our private members clubs etc. we have seen only more and more consistency, spending, we've seen not only people visiting

the restaurants more frequently but also the average spend going up significantly. we have really seen a lot of resilience in our luxury portfolio. caroline: what is your bird's eye perspective the consumer willing to spend $30,000 on signing up to one of your clubs and the subscriptions afterwards but what about businesses? are they buying memberships? who are your members? >> that members clubs, it certainly a lot of business people. for the most part, we focus more on individuals instead of corporate business of the private membership club level but we also see a huge amount of spending around our private events, or event spaces that are related to corporate business. we honestly currently are seeing that our numbers in the luxury

dining segment are up significantly over 20 levels. i've been encouraged by that. caroline: i've been to a couple of restaurants in new york and there's been a business reason to be there. talk to us about the members clubs and why you are seeing such an increase and desire to build them here in the united states. >> i think it's a growing trend. right now, in new york, it's happening at a faster pace than the inner-city. it's a big part of the culture in london for a long time. for us, we look at it as an opportunity to cater more toward our clients and our customers and being able to give them the hospitality experience. i think people are expecting more and more and they enjoy the

sense of community, they enjoy the sense of familiarity and they enjoy the fact that they have a place where truly everyone knows their name and they can come and celebrate especially at our places food and beverage at the highest levels and also tailored specifically to their needs. as people become more and more accustomed to that, you will continue to see the growth of the private club segment in both new york and american general because i think it's clear it's something the customer wants. caroline: you reference how was been a long-standing practice in london. you are a global powerhouse, you are in new york and boston in dallas but also france and the middle east. what about other cities that interest you? >> being of london, we are looking at that and just announced we are doing a big

carbone in london. it's very exciting and we are working on a few of the projects there close by that will we will announce soon. it's a big focus for us, city we've always wanted to go to that has lots of opportunity for major food group. we're also focused on the middle east heavily as you mentioned. asia, singapore, tokyo are some other international cities we are looking at currently. we are about to open a restaurant there. caroline: what drives that? is it people saying please build here? can you tell that's the type of clientele that would be supportive? the u.k. economy is not been great but there is this foreign money that bases itself in london and a desire to spend in your restaurants. >> i think it's a combination.

london will always be london regardless of whatever's happening at the moment macro economically. to answer your question, it's a combination of the right opportunities for us and things that are both special enough and significant enough to have us focus on another geography. to your point also, only looking at geographies we believe and support our products and our price points and what we are selling. the combination of the two. caroline: and environment were perhaps inflationary pressures are not too heady and talent is rich, how are you seeing those continue or is it easier at the moment to get the right kind of person in the door to make your vision come alive? >> that's never easy. it will never be easy in the hospitality business in general.

it's something that everyone complains a lot about. it is probably harder than it's been. it's always going to be a challenge in this business to acquire great talent. especially when you have a company and infrastructure that gives people the opportunities to grow within the industry which we do. and especially when you go to places like london or any of these other major cities we focus on where people want to live or people want to settle down. you have the opportunity to get the best talent possible in this industry. there is so many talented and incredible people out there, you just have to find them and be able to bring them into an environment and cities really want to be and they want to train and where they want to learn and grow with the company. caroline: let's talk about dealmaking. you're a former banker and you

know how these things are done. the fact that she had gone within another key italian name that is so well loved in new york and partnered with the parent group. are we going to see more of that? >> you will see a lot of that. one of my great believes that we've always been in the restaurant business, people not looked at collaboration as much as they should. in this example, it's an incredible iconic brandon something we are excited to now have as part of the major food group portfolio. that way we can look to expand it and realize its full potential. i think we will continue to look at and look for as we speak, incredible brands that we feel we can help realize their potential both domestically,

globally and from an expansion perspective. when we see something that really has the dna that max -- that matches up with the qualities the major food group stands for and that will be added to what we create. i think making deals like this is going to be something that we focus on and something i think has been heavily overlooked for a long time in the restaurant business in general. caroline: when i think of doing deals and partnerships might be less upfront cash but you can do this out of the eye of the public markets because you are private but would you think of going public? >> nothing is off the table, it's not something that i'm talking about right now but i think for us, anything is possible and we are open to

anything. i think we're really focused on what we are doing now and growing the way we are. caroline: what other restaurant that you don't yet have a partnership with two you love going to and admire? >> i can't say. i don't want any well -- anyone else to go after them. caroline: you are in miami? >> yes, i wish i had a better outside background. i'm in miami now and we've had an incredible amount of growth here. we just opened their new mexican concept called château in miami that's been doing incredible. we will continue to grow and focus a lot on miami and new york. we continue to expand to all the markets we discussed. caroline: we thank you so much.

it's making me hungry. coming up, we have a deep dive in artificial intelligence, the key company openai. this is bloomberg technology next. ♪ do you want to close out? should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh not all caitlin clarks are the same. caitlin clark. city planner. avalarahhh

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>> is silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlow. caroline: i'm caroline hyde. ed: i am ed ludlow. this is bloomberg technology. caroline: full coverage of the state of artificial intelligence as we sit down with the openai coo. ed: plus we take a deep dive into apple's