Podcast Summary
The Significance of Data, Diplomacy, and Leadership: Data's role in driving innovation in investments discussed at Bloomberg's 'Future Investor' event. UN Secretary-General calls for ceasefires in Middle East and Ukraine. Controversy over hate speech on campus in US. Republican debate targets Nikki Haley. Importance of data, diplomacy, and leadership highlighted in global events.
Data is becoming increasingly important in various sectors, including investments, and is driving the creation of innovative enterprises. This was a key theme discussed during Bloomberg's "Future Investor" event series in San Francisco and virtually on May 7th. Meanwhile, in global news, there were calls for ceasefires in the Middle East and Ukraine, with the UN Secretary-General invoking a rarely used power to urge for peace. In the US, there was controversy over university presidents' testimonies regarding hate speech on campus, and the Senate failed to pass aid for Ukraine due to political disagreements. In the political arena, the Republican debate saw candidates targeting Nikki Haley as the front runner gained ground. Overall, these events underscore the significance of data, diplomacy, and leadership in shaping our world.
Political Figures and Corporate Ties, Dimon's Stance on Cryptocurrencies, SpaceX's Valuation, EU-China Summit, and Gun Violence in the US: Political figures' financial ties to corporations can impact their decisions. Dimon opposes cryptocurrencies and intends to shut them down. SpaceX's potential $75B valuation ranks among the world's top companies. EU-China summit focuses on trade partnership. EU nears AI regulation deal. US sees record mass shootings in 2023.
The financial ties of political figures to powerful corporations, such as Wall Street, can significantly influence their actions and decisions. This was a point of contention during a recent debate between Nikki Haley and Vivek Ramaswamy, with Haley defending her record of accepting support from various sources while Ramaswamy criticized her ties to Larry Fink and BlackRock. Meanwhile, at a Senate hearing, Jamie Dimon, CEO of JPMorgan Chase, reiterated his opposition to cryptocurrencies and voiced his intention to shut them down if he held the power. In other news, SpaceX's potential valuation of $75 billion following a share sale would position it among the world's most valuable companies. China and EU officials held their first in-person summit in 4 years, focusing on strengthening their trade partnership. Additionally, the European Union is nearing a deal on a comprehensive regulation of artificial intelligence. Gun violence in the US continues to be a significant issue, with 2023 on pace to be a record year for mass shootings, including a fatal incident at UNLV.
Annual Gun Violence Vigil and Ongoing Debate on Gun Control: Despite efforts to prevent gun violence, the issue remains contentious, with gun control legislation facing opposition in Congress, while the MLB Yankees strengthen their roster and NFL season starts.
The actions of a police officer saved lives during a shooting incident, but the issue of gun violence continues to be a contentious one in the US, with efforts to pass gun control legislation facing opposition. At the 11th annual national vigil for gun violence victims, Senator Chris Murphy emphasized the importance of the gun violence prevention movement and its ability to save lives. However, on Capitol Hill, Republican senators are blocking a democratic ban on assault-style weapons, with some lawmakers considering leaving Congress due to a toxic atmosphere. In sports, the Yankees are making significant moves to improve their lineup, acquiring Juan Soto and Alex Verdugo, while the NFL's regular season begins tonight with several intriguing matchups.
NFL Playoffs: Steelers' Najee Harris Questionable, NBA: Warriors Win, Luka Doncic Triple-Double, Bitcoin ETF Approval Imminent: The NFL's Pittsburgh Steelers aim for playoffs despite Najee Harris' injury, NBA's Golden State Warriors win with Steph Curry and Klay Thompson, Luka Doncic records triple-double by halftime, Bitcoin ETF approval near, Cathy Wood defends cryptocurrencies, AI adoption future discussed in San Francisco, Bitcoin acts as risk-on and risk-off asset during crisis
The NFL's Pittsburgh Steelers are pushing for a playoff spot despite a recent home loss to the Arizona Cardinals. The team's running back, Najee Harris, is questionable due to a knee injury. Meanwhile, in the NBA, the Golden State Warriors overcame a fourth-quarter deficit to beat the Portland Trail Blazers, with Steph Curry and Klay Thompson leading the charge. Elsewhere, Dallas' Luka Doncic recorded a triple-double by halftime in a win over Utah. In tech news, the long-awaited approval of the first Bitcoin ETFs in the US seems imminent, with ARK Investment founder Cathy Wood defending the value of cryptocurrencies amidst past controversies and market volatility. Join Bloomberg Tech in San Francisco on May 9th to explore the future of AI adoption and its potential risks and rewards. And finally, Bitcoin's resilience during the regional bank crisis in March has highlighted its role as both a risk-on and risk-off asset.
Institutional Adoption of Bitcoin Gains Momentum: Notable figures like Jamie Dimon and Elizabeth Warren show openness to Bitcoin, SEC may approve Bitcoin spot ETF, and institutional investors like Cathy Wood push for greater involvement, leading to potential price surge to 650,000 in base case and 1,500,000 in bull case. Tech companies innovate with new chips for AI software, fueling tech revolution.
The institutional adoption of Bitcoin is gaining momentum, driven by the low correlation of returns to other assets and the potential for high upside in the new asset class. Notable figures like Jamie Dimon and Elizabeth Warren have shown openness to Bitcoin, and institutional investors like Cathy Wood of ARK Investment Management are pushing for greater involvement. The SEC's potential approval of a Bitcoin spot ETF is also a significant development, which could lead to a surge in institutional buying and push the price of Bitcoin closer to its target of 650,000 in the base case and 1,500,000 in the bull case. In the tech space, companies like Advanced Micro Devices are innovating with new accelerator chips to improve the capabilities of artificial intelligence software, further fueling the revolution in technology and its potential applications.
AMD's MI 300x Outperforms NVIDIA in AI Market: AMD's MI 300x is expected to significantly outperform NVIDIA in terms of inference performance, making it a top choice for businesses in the rapidly growing $400B AI market. AMD leads in high-bandwidth memory, addressing latency issues.
AMD's MI 300x is expected to significantly outperform NVIDIA in terms of inference performance, making it an attractive option for businesses requiring high GPU compute in the rapidly growing AI market. The market size for AI accelerators is now estimated to be around $400 billion by 2027, up from earlier predictions due to increasing demand for more compute power. AMD's capability in this area is seen as significant, and the MI 300x is expected to be a quick market leader, with some analysts believing AMD's sales forecast for this product may be conservative. The latency issue with certain AI models has been addressed by adding large amounts of high-bandwidth memory, and AMD is currently leading the industry in this regard. While there are multiple solutions available, AMD's offering is seen as a significant player in the market.
AMD's Data Center GPU Sales to Reach $2B by 2024, With Potential for More: AMD aims to reach $2B in data center GPU sales by 2024, but sees potential for even greater demand and supply, and is actively deploying new MI 300 GPUs with partners like Microsoft, Oracle, Meta, Dell, Lenovo, and Supermicro.
AMD is ramping up production of their data center GPUs, with expectations of reaching $2,000,000,000 in sales by 2024. However, the company believes there is significant potential for even greater demand and supply, and they are actively working with partners like Microsoft, Oracle, Meta, Dell, Lenovo, and Supermicro to deploy their new MI 300 GPUs as quickly as possible. The company's planning is based on customer demand exceeding $2,000,000,000, and they are taking a cautious approach, focusing on one step at a time. Despite supply chain challenges in the past, AMD is optimistic about the multiyear opportunity and is actively deploying with a number of major customers and partners. The launch of the MI 300 GPUs marks a significant day for AMD, with active deployments underway and strong partnerships in place to help ramp up production and sales as quickly as possible.
