Bloomberg Intelligence

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

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- Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Anthropic seeking a valuation of about $1.4 trillion in its initial public offering, in a bid to make history as the first frontier artificial intelligence lab to go public. The company and its co-founders are seeking to raise as much as $90.4 billion in the IPO and a private placement, with the base offering set to raise up to $64.4 billion.

- Michael Shepard, Bloomberg News Senior Technology Editor, discusses President Donald Trump saying the FBI is looking into Nvidia Corp CEO Jensen Huang's extramarital relationship with a suspected Chinese spy. Trump spoke to Huang and praised him as a "very honorable man," saying he believes Huang didn't know the woman was a spy. The revelations have sent Nvidia's shares plunging and threaten to reverberate across the artificial intelligence industry, with the company's board conducting an investigation into whether Huang was the target of a foreign intelligence effort.

- Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, recaps Skydance earnings. Skydance Corp. will release a streaming bundle that includes both the Paramount+ and HBO Max services early next year, offering "even greater value" for consumers. The company reported a 5% increase in revenue overall, with gains in the streaming and studio divisions offsetting a decline at the TV networks, and posted adjusted earnings before interest, taxes, depreciation and amortization of $1 billion.

- Nathan Naidu, Bloomberg Intelligence Technology Research Analyst, discusses earnings from Take-Two Interactive. According to Bloomberg Intelligence: Post-2Q Earnings Outlook: Take-Two's unchanged fiscal 2027 bookings guidance looks increasingly conservative, thanks to GTA VI demand, presaging added upside if launch momentum holds. Management's decision to retain guidance, days before release, reflects timing, rather than weaker demand. Cannibalization is the key risk: NBA 2K27's softer-than-expected sales show consumers are already deferring spending ahead of GTA VI. Still, the 3Q target calls for 12% recurrent consumer-spending gains, reversing declines in the prior two quarters, as GTA VI Ultimate Edition's add-on content lifts recurring-spending mix.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Matthew Bloxham, Bloomberg Intelligence Senior Media and Tech Analyst, discusses Nvidia Corp.'s investigation into Chief Executive Officer Jensen Huang's affair with an alleged Chinese spy. The company's board is assembling a committee of independent directors to investigate the matter, with outside counsel, after Huang disclosed the romantic relationship in a memo to employees. The incident threatens to further roil the AI market, with Nvidia being a key source of financing for AI infrastructure and Huang being a leading voice in the industry, and has led to a slide in Nvidia's shares.

-Michael Monaghan, Portfolio Manager and Principal of the Founders 100, gives reaction to Nvidia news.
Following news that NVIDIA is launching an investigation into CEO Jensen Huang over his relationship with a woman who intelligence agencies said is a Chinese Spy, Michael Monahgan says he fully supports Jensen staying as CEO. Founder-led companies outperform because one person carries the vision. The same concentration is the risk, and the market is pricing it this week. With Q3 earnings slated to be released on November 17th and a closed-door congressional briefing scheduled for November 18th, Michael expects the business to remain on track.

-Matthew Palazola, Bloomberg Intelligence, Senior Analyst, P&C Insurance, discusses earnings from Berkshire Hathaway. According to Bloomberg Intelligence: Berkshire Hathaway's stock can still behave like an anti-AI trade even while the conglomerate is investing in AI capabilities and owns a major Alphabet position. The company continues to deploy capital, though stock buybacks are likely to decline this quarter after a record $9.6 billion in 3Q.

-Jean-Yves Coupin, Bloomberg Intelligence Senior Credit Analyst, discusses the latest at CVS. According to Bloomberg Intelligence: CVS Health's planned split may prove manageable for creditors, as a path to low-3x leverage remains, providing some cushion against uncertainty about the future capital structure. The decision to separate into two entities follows a 2024 review, though regulatory and political headwinds remain a threat to the credit profile.
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Today's guests: Citi Wealth Chief Investment Officer Kate Moore and TIAA Financial Literacy Co-Author & Stanford Institute For Economic Policy & Research Annamaria Lusardi.
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
-Anthony Hughes, Bloomberg US Equity Capital Markets Reporter, discusses Anthropic’s upcoming IPO. Anthropic PBC's initial public offering plans have run into a punishing post-election selloff, prompting a rethink among prospective investors of the company's expected valuation. Potential buyers are discussing a valuation range for the company of $1.2 trillion to $1.3 trillion, with some weighing a value as low as $1.1 trillion. Deliberations are ongoing and no final decisions have been made, with investors considering bids and the company potentially starting formal marketing with a conservative size and valuation target.
-Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses data centers. Around half of planned expansion nationwide is vulnerable to increased scrutiny and pushback from Democrats who clinched historic victories in states like Texas, Georgia and Ohio. Restrictions on development could ultimately reduce the odds of a downturn by keeping the AI investment boom in check, according to economists like Brett Ryan at Deutsche Bank Securities.
-Dan Ives, Partner and Senior Managing Director, Analyst at Yorkville Ives & Co, discusses the recent tech selloff. US stocks advanced Friday as dip buyers stepped in to support the battered artificial intelligence trade, though the severity of this week’s rout has left investors questioning whether the worst is over.
--Abigail Gilmartin, Bloomberg Intelligence US Retail Analyst Covering Footwear & Athleisure, discusses earnings from Under Armour. Under Armour Inc.’s shares declined after a reduction in its profitability guidance cast more doubt on the sports brand’s turnaround prospects. The company said gross margin would increase about 220 basis points this fiscal year, which runs through March. That’s a reduction of 50 basis points from August, with the company citing higher costs for freight and fuel and the impact of inventory management.
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Matthew Bloxham, Bloomberg Intelligence Senior Media and Tech Analyst, discusses technology stocks plummeting as traders assess the implication of a Democratic sweep in the US midterm elections on cloud data centers. Matthew also discusses Qualcomm earnings. Qualcomm Inc. shares tumbled after the company gave a lackluster profit forecast, citing a “broad-based increase” in costs for components and manufacturing.

-Justin Teresi, Bloomberg Intelligence Antitrust Litigation & Policy Analyst, discusses data centers. According to Bloomberg Intelligence: Hyperscalers like Microsoft, Meta, CoreWeave, Oracle and OpenAI who use data centers in Texas, or have plans to utilize them there, face increased policy risks tied to the facilities with Gina Hinojosa winning the Lone Star State's gubernatorial race.

-Nathan Dean, Senior Policy Analyst for Bloomberg Intelligence, discusses President Donald Trump’s corporate influence after the midterm elections. According to Bloomberg Intelligence: With Democrats winning control of Congress, policy risk for US companies may increase as incentives grow for President Donald Trump to rely on public pressure, executive power and federal leverage to advance White House goals. From taking a 10% government stake in Intel to pressing Bank of America and Citigroup on credit-card interest rates and urging Walmart to absorb tariff costs, Trump has consistently been willing to influence companies' conduct even when legislation is unlikely.

- Ryan Gallagher, Bloomberg Investigative Reporter, discusses the Bloomberg Big Take story: “Ads in Popular Apps Give Police a Powerful Tool to Spy on Users.” Penlink’s Webloc is sold to police in the US, UK and worldwide. It uses technology found in weather, gaming, email and religious apps to locate people using their cellphones. Webloc can track hundreds of millions of mobile phones across the world. For law enforcement, that’s a powerful capability — made more so by the fact that in the US it can be used without the need for any kind of search warrant or judicial authorization.
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