Apple and Google: EU Legal Battles and AI Innovations

Apple faces significant financial repercussions from EU rulings while betting on AI to drive future iPhone sales.

### Apple and Google's Legal Battles and Innovations in Tech
* 📉 Apple and Google face setbacks as they lose court battles with the European Union, with Apple potentially liable for **$14.4 billion in back taxes**.
* 📈 Despite these challenges, Oracle shares reach record highs, reflecting **strong market performance and investor confidence**.
* 🤖 Apple is heavily investing in AI technology, introducing new products built specifically for AI, although the **full capabilities may not be available until later this year**.
* 📱 The upcoming iPhone release is expected to attract customers, particularly those with older models, due to enhancements in **camera and battery life** rather than AI features.
* 📅 Significant updates for Apple devices, including **new AI functionalities**, are anticipated in the coming months, with a major update expected in **December**.
* 🌍 The competition in the tech landscape continues to grow, with innovations from companies like **Oracle** and increasing focus on **health-related features** in devices like **AirPods**.
* 💡 The broader implications of tax rulings and market strategies highlight the **ongoing evolution in corporate practices**, especially in relation to **consumer interests and regulatory environments**.
* 🚀 Finally, the tech industry remains dynamic, with significant developments in **cybersecurity and cloud services**, as companies adapt to **new challenges and opportunities** in the market.

>> FROM THE HEART OF WHERE INNOVATION, MONEY, AND POWER COLLIDE IN SILICON VALLEY AND BEYOND, THIS IS BLOOMBERG TECHNOLOGY WITH CAROLINE HYDE AND ED LUDLOW. >> LINE TECHNOLOGY. APPLE AND GOOGLE LOSING FIGHTS WITH THE EUROPEAN UNION. ED: PLUS, SHARES OF ORACLE TOUCH A RECORD HIGH. CAROLINE: APPLE BETS BIG ON AI WITH A OF PRODUCTS. LET'S CHECK ON THE MARKETS. WHILE IT IS APPLE WE ARE GOING TO DIVE IN ON, WE ARE UP 1.5% OVER THE LAST TWO DAYS BUT MOST OF THOSE GAINS ARE FROM YESTERDAY. TODAY, WE ARE CALLING SOME OF THAT RISK ON SENTIMENT AND SOME OF THE FOCUS IS ON INDIVIDUAL MOVERS. YOU ARE GOING TO DIVE INTO IT.

>> APPLE AND ALPHABET, TWO COURT FIGHTS LOST WITH THE E.U. APPLE'S LOWER. ALPHABET IS HIGHER AT THE LOW POINT OF THE SESSION. A $14.4 BILLION DECISION IN BACK TAXES FOR APPLE AND A FINE FOR GOOGLE IN THE FIGHT WITH THE EUROPEAN UNION. A COMPETITION COMMISSIONER WHO ENDS HER TERM IN NOVEMBER SAYS THE RULINGS BROUGHT HER TO TEARS. >> YOU OWN YOUR VICTORIES BUT YOU ALSO OWN YOUR DEFEATS. WE HAVE HAD BOTH. AND HOPEFULLY THAT SHOWS WE ARE WILLING TO PUSH THE ENVELOPE AND TAKE A RISK TO TRY TO MAKE SURE THE MARKET SERVES THE CONSUMER AND THAT WE ARE NOT JUST SMALL PONDS FOR THE MACHINE. ED: THE INVESTOR HAS MAINTAINED THE IDEA THAT AN INDIVIDUAL MEMBER

STATE SHOULD NOT MAKE AN AD HOC BENEFICIAL TAX ARRANGEMENT WITH AN INDIVIDUAL COMPANY LIKE APPLE. THIS RELATES TO A HISTORIC SERIES OF EVENTS IN IRELAND BACK TAXES ESSENTIALLY. EXPLAIN THE BASICS OF THE RULING IN APPLE'S CASE. >> THE CASE RELATES TO APPLE'S TAX PAID IN IRELAND IN THE 1990'S AND EARLY 2000S. UNDER THE RULING TODAY, THE EUROPEAN COURT RULED THAT APPLE DID NOT -- HAD NOT PAID ENOUGH TAX AND IRELAND HAD GRANTED APPLE IN RELATION TO HIS PRESENCE IN IRELAND, SO THAT TAX WILL NEED TO BE PAID IN IRELAND. >> REMIND US OF IRELAND'S VIEW ON TAXES AND WHY IT IS EMBROILED WITH APPLE. >> IN THE EARLY 1990'S, IRELAND WANTED TO MAKE ITSELF AN

ATTRACTIVE PLACE FOR FOREIGN DIRECT INVESTMENT AND HAD A LOWER CORPORATION TAX RATE AS PART OF THOSE EFFORTS. SINCE THEN, THERE WERE ACCUSATIONS THAT IRELAND HAD BECOME A TAX HAVEN AND SOME TAX LOOPS ESSENTIALLY, ONE KNOWN AS THE DOUBLE IRISH. THOSE HAVE ESSENTIALLY BEEN CLOSED OFF AND IRELAND IS NOW SUBJECT TO RULES ON GLOBAL TAXATION AND NOW HAS A 15% CORPORATION TAX RATE, SO THOSE SITUATIONS HAVE CHANGED. THIS REFERS TO A SPECIFIC PERIOD IN THE 1990'S AND 2000'S. CAROLINE: APPLE HAS A HUGE AMOUNT TO BE PAYING IN BACK TAXES. APPLE INTRODUCED THE LATEST VERSION OF ITS FLAGSHIP PRODUCT. THE CEO SAYS IT WAS BUILT FOR AI FROM THE GROUND UP.

YOU KNEW MOST OF IT COMING AHEAD OF THE GAME. IS IT GOING TO BE AI THAT MAKES EVERYONE BUY A NEW IPHONE? >> APPLE INTELLIGENCE IS NOT GOING TO BE RELEASED UNTIL MID-OCTOBER AT THE EARLIEST, AND THESE BEGIN SHIPPING ON SEPTEMBER 20. BUT AI IS WHERE THE MARKET MESSAGE IS NOW AND HAS BEEN ON THE MINDS OF CONSUMERS FOR SEVERAL MONTHS, SO THAT IS WHERE APPLE IS FOCUSING MESSAGING. WHAT IS REALLY GOING TO SPUR UPGRADES ARE PEOPLE ON OLDER PHONES, PEOPLE WHO HAVE NOT COMPLETE -- YOU HAVE A COMPLETELY REINED BATTERY OR CRACKED SCREEN AND WANT NICE CAMERA UPGRADES. IT IS NOT POINT TO BE AI PUSHING THESE. IT IS GOING TO BE OTHER FACTORS. ED: YESTERDAY, I WAS ABLE TO GET 16

PLUS PROMAX AND THE EARLY FUNCTIONALITY IS LIMITED, AUTO RESPONSE AND EMAIL. THERE IS SOME PRETTY COOL IMAGE EDITING STUFF IN THE VERSION I WAS ABLE TO ACCESS, BUT YOU HAVE DETAILS ABOUT WHAT HAPPENS NEXT AND A SERIES OF UPDATES AND MORE FUNCTIONALITY THAT IS PERHAPS AT THE CUTTING EDGE. >> 18.1 WILL BE THE FIRST VERSION THAT INCLUDES APPLE INTELLIGENCE AND INCLUDE PHONE CALL RECORDING AND PROVIDE A TRANSCRIPTION AFTERWARDS. IT WILL INCLUDE VOICE MEMO TRANSCRIPTIONS AND NOTIFICATION SUMMARIZATION AND PRAYER -- PRIORITIZATION. DECEMBER WILL INCLUDE THINGS LIKE INTEGRATION FROM OPENAI AND EMOJIS WHERE YOU USE TEXT TO CREATE YOUR OWN EMOJIS. IT WILL INCLUDE AN IMAGE PLAYGROUND APP. THERE IS AN UPDATED INTERFACE FOR EMAILS IN THE MAIL APP. THERE IS GENERAL NOTIFICATION PRIORITIZATION.

BUT THE REAL THING PEOPLE THINK ABOUT WHEN YOU THINK ABOUT AI IS SIRI. RIGHT NOW, SIRI HAS UPDATED INTERFACE, BUT THAT IS JUST LIPSTICK. THE REALITY IS THE UNDERPINNINGS OF SIRI HAVE NOT CHANGED. SIRI IS NOT GOING TO CHANGE IN ANY MEANINGFUL WAY UNTIL IT GETS ITS OWN BRAIN TRANSPLANT IN MARCH AND APRIL OF NEXT YEAR, WHEN IT WILL BE ABLE TO DO THINGS LIKE PULL OFF WHEN MY MOM'S FLIGHT LANDS OR THE PODCAST MY WIFE SENT ME TWO WEEKS AGO. THAT IS PROBABLY FOUR TO SIX MONTHS AWAY STILL. ED: AN HONOR TO BE LIVE BLOGGING WITH YOU IN THE TRENCHES OF YOU GOING THROUGH EVERY PIECE OF PRODUCT ANNOUNCEMENT YOU HAD NAILED IN ADVANCE ANYWAY. I WANT TO POINT OUT WE POSTED

IN THE BLOG THAT THE BEST EVER BATTERY LIFE AND MOST POWERFUL PROCESSOR, THESE ARE THINGS PEOPLE ARE INTERESTED IN AND THERE IS A LOT MORE THAN THE IPHONE. LET'S KEEP IT GOING WITH A PRINCIPAL ANALYST AT LOPEZ RESEARCH. IN AGGREGATE, WHAT WAS THERE TO BE EXCITED ABOUT ACROSS THE -- PRODUCT PORTFOLIO? >> WE SAW THE INNOVATIONS YOU WOULD ALWAYS SEE. WE TALKED ABOUT A BIGGER SCREEN. WE TALKED ABOUT THINNER AND LIGHTER. FOR CONSUMERS COMING IN TO THESE NEW PHONES THAT NEED TO DO UPGRADES, THE CONCEPT OF HAVING THE CAMERA BUTTON AND VISUAL INTELLIGENCE IS REALLY INTERESTING. WHAT SELLS PHONES WITH CONSUMERS CONTINUES TO BE THE VISUAL ASPECTS AND WHAT WE CAN DO WITH PHOTOS AND VIDEOS. WE SAW A STRONG SHOWING ON THAT.

SOME OF THE SURPRISES WERE AROUND THINGS LIKE HEALTH FEATURES WITH HEARING AIDS. IT WAS ACTUALLY IN SOME WAYS PREDICTABLE WITH A FEW SURPRISES THAT FOCUS ON USABILITY. CAROLINE: I THINK THE HEALTH FOCUS IS INTERESTING, BUT GIVE US YOUR TAKE ON ARTIFICIAL AND APPLE INTELLIGENCE. IS THAT A WINNING FORMULA IF IT IS NOT HERE TO USE YET? >> THE CONCEPT THAT IT IS NOT HERE UNTIL DECEMBER OR NEXT YEAR IS OVERPLAYED. IN GENERAL, MOST CONSUMERS ARE NOT GOING OUT AND SAYING WHAT I WANT NOW IS ARTIFICIAL INTELLIGENCE. THEY WANT THINGS TO BE EASY TO USE. THEY WANT TO CAPTURE BETTER VISUALS AND EXPRESS THEMSELVES IN DIFFERENT WAYS. I THINK APPLE TOOK A TEMPERED

APPROACH TOWARD ARTIFICIAL INTELLIGENCE MEANS AND TRIED TO TIE IT TO THINGS THEY THOUGHT CONSUMERS WOULD FIND IMPORTANT, SO NOT JUST ARTIFICIAL INTELLIGENCE BUT PERSONALIZATION AND CONTEXT AND HOW TO CREATE VIDEOS AND TO EMOJIS, SO THESE ARE THINGS THAT RESONATE WITH CONSUMERS AND THE TIMING OF THAT WILL COME TO THEM. THEY WILL USE IT, BUT THEY ARE NOT KNOCKING DOORS DOWN FOR IT NOW. THEY WANT A PHONE OR WATCH THAT WILL BE ABLE TO RUN WHATEVER COMES NEXT FROM APPLE. CAROLINE: AMBIENT AI IS HOW OUR GUESTS PUT IT YESTERDAY. GO BACK TO THE WATCHES AND AIRPODS. IT DID IMPACT CERTAIN STOCKS. HOW MUCH ARE PEOPLE GOING TO BE SPURRED TO BUY THIS ON A HEALTH FOCUS?

>> I DO NOT KNOW IF THEY ARE GOING TO BUY IT ON A HEALTH FOCUS. WHAT I THINK IS GOING TO HAPPEN AND WHAT THE REAL WIN IS FOR APPLE IS THE CONCEPT THAT THE CONTINUOUS UPGRADE CYCLE, ONCE I GET THAT AIRPODS IN AND I FIGURE I HAVE A HEARING ISSUE OR I CAN HAVE BETTER QUALITY HEARING WITH THIS, THAT IS A GAME CHANGER IN TERMS OF CONTINUAL USE AND CONSTANT UPGRADES. I THINK IT IS AN ISSUE FOR HEARING AID MANUFACTURERS. ONE OF THE THINGS WE HAVE HAD AN ISSUE WITH IS DUE PEOPLE FEEL -- WANT TO FEEL LIKE THEY ARE WEARING HEALTH DEVICES? THESE ARE JUST AIRPODS. THINK ABOUT NOT NEEDING A CHANGE OF BATTERY AS AN ELDERLY PERSON AND JUST HAVING EASY CHARGING CAPABILITY. IT COULD BE HUGE FOR PEOPLE

THAT NEEDS TO HAVE BETTER HEARING. ED: IT WAS INTERESTING THAT INSIDE THE STEVE JOBS THEATER MOST AUDIBLE WAS AROUND HEARING AIDS. WE TALK ABOUT THE JUMPING IN POINT BECAUSE THE HARDWARE COSTS LESS THAN THE SMARTPHONE AND LOWERS THE BARRIER TO ENTRY. HOW DO YOU MODEL THAT FOR THE SUCCESS OF THE APPLE ECOSYSTEM? MARIBEL: APPLE IS A PORTFOLIO APPROACH, BUT I THINK THE REAL WIN FOR APPLE, WHAT THEY ARE GOOD AT, IS ALL THESE THINGS WORK TOGETHER AND THE MORE YOU HAVE, THE BETTER YOUR LIFE BECOMES. WE CAN HELP YOU WITH YOUR HEALTH AND FITNESS AND PROBLEMS YOU DID NOT KNOW YOU HAD AND ALL THAT IS ATTACHED TO PERSONALIZATION OF YOU AND TAKING WHAT WE TALKED ABOUT AS AI AND TRYING TO MAKE THAT

RELEVANT IN SOMEONE'S LIFE. MOVING FORWARD, WE WILL CONTINUE TO SEE THE HEALTH MARKET WILL BE ONE OF THE DRIVERS FOR APPLE REVENUE MOVING FORWARD. CAROLINE: A LOT OF THIS WAS ABOUT WHAT IS INSIDE THE APPLE IPHONE BECAUSE IT HAS NOT CHANGED MUCH FROM THE OUTSIDE. WHAT HAS CHANGED ON THE OUTSIDE IS WHAT IS GOING ON IN CHINA. WE SEE A TRIFOLD PHONE. HOW MUCH ARE WE SEEING INNOVATION FROM CHINA? MARIBEL: WE SEE QUITE A BIT OF INNOVATION FROM CHINA. APPLE CONTINUES TO HAVE THE PERSPECTIVE THAT THE FULL DOUBLE -- FULL DOUBLE PHONE -- FOLDABLE PHONE IS NOT SOMETHING THEY HAVE TO HAVE INNOVATION IN. BUT I THINK IT ACCOMPLISH THAT. THE REALITY OF THE SITUATION IS FOLDABLE DEVICES ARE EXPENSIVE.

IT HAS BEEN A LIMITED MARKET. SAMSUNG HAS BEEN PUSHING THAT AND IT IS -- IT MAKES PERFECT SENSE TO ME IF YOU ARE LOOKING AT A MAINSTREAM MARKET. THEN FOLDABILITY WILL NOT BE WHERE IT IS AT. IF YOU WANT TO TALK COOL, FOLDABILITY IS WHERE IT IS AT. CAROLINE: COMING UP, WE WILL BE JOINED BY RUBRIK'S CEO ON DOUBTS AROUND GROWTH IN THE SECOND HALF. THIS IS BLOOMBERG TECHNOLOGY. ED: TWO NOTABLE CALLS FROM THE SELL SIDE THIS MORNING. FIRST, A READ ON ALPHABET WITH A NEUTRAL RECOMMENDATION, THE ANALYST HIGHLIGHTING NUMEROUS HEADWINDS. AND OUR SECOND CALL COMES FROM DEUTSCHE BANK NAMING TESLA ITS TOP PICK IN THE AUTO SECTOR, NOTING THAT SHARES DESERVE A UNIQUE VALUATION GIVEN ITS

POTENTIAL TO RESHAPE BUSINESS MODELS ACROSS MULTIPLE INDUSTRIES. CAROLINE: ANOTHER STOCK WE SHOULD BE LOOKING AT, RUBRIK, SHARES UP 6%. JOINING US TO DIVE IN IS RUBRIK'S CEO, WHO MUST BE LOOKING AT THE STOCK WITH SOME SURPRISE. YOU HAVE ANALYSTS SAYING YOU PERFORMED ON ALL KEY METRICS. BLOOMBERG INTELLIGENCE ARE FLAGGING QUESTIONS AROUND GROWTH DYNAMICS IN THE SECOND HALF. CAN YOU SPEAK TO THAT? >> I LEAVE THE STOCK TO THE EXPERTS, BUT WE ARE BUILDING A LONG-TERM BUSINESS. IF YOU LOOK AT THE VERY IMPORTANT MARKET THAT IS CYBER RESILIENCE, WE IMPROVED YEAR-OVER-YEAR TO OVER 900 MILLION. WE ARE AT THAT SPEED AND SCALE. LAST QUARTER, WE BEAT THE QUARTER HANDSOMELY.

WE ARE CONTINUING TO OUTPERFORM ON TOPLINE AND ON PROFITABILITY METRICS. WE RAISED THE GUIDANCE FOR THE REST OF THE YEAR, SO WE ARE BULLISH ABOUT WHAT IS IN FRONT OF US AND CONFIDENT IN WHAT WE SEE. WE WILL FINISH ARE YOUR STRONG. ED: IN THE CONTEXT OF WHAT RUBRIC DOES, IT SEEMS WHEN ENTERPRISES INVEST MORE IN CLOUD OR SHIFT TO THE CLOUD THERE IS BENEFIT THAT YOU DERIVE FROM THAT. CAN YOU EXPLAIN THE BASICS OF THE RELATIONSHIP AND MECHANICS? BIPUL: MORE AND MORE BUSINESSES AND GOVERNMENTS HAVE REALIZED JUST DOING CYBER PREVENTION WILL NOT HELP THEM RUN THEIR BUSINESS WITH THERE'S A SUCCESSFUL CYBERATTACK BECAUSE CYBERATTACKS ARE INEVITABLE. THEY ARE ALL THINKING ABOUT CYBER RESILIENCE.

HOW DO BANKS CONTINUE TO DUAL OUT MONEY? THAT IS WHAT WE DO. WE HELP BUSINESSES ENSURE APPLICATIONS ARE RUNNING. APPLICATIONS COULD BE IN THE CLOUD. AS BUSINESSES ARE DOING MORE, CYBER IS THE NUMBER ONE RISK AND ABILITY TO RUN SERVICES ALL THE TIME IRRESPECTIVE OF CYBERATTACK IS WHAT WE HELP BUSINESSES WITH, SO MORE CLOUD TRANSFORMATION IS HELPING OUR BUSINESS. ED: I THINK WE ASKED YOU A DOZEN TIMES OVER THE YEAR WHEN YOU WERE GOING TO GO PUBLIC AND EVENTUALLY IT HAPPENED. I FEEL LIKE IT HAPPENED QUITE FAST. I WANTED TO ASK WHAT IT IS LIKE BEING A PUBLIC COMPANY AND HOW YOU THINK THAT IS GOING. BIPUL: IT IS GOING GREAT. AS A CEO, THERE IS NO REAL DIFFERENCE OTHER THAN DOING CALLBACKS WITH STAKEHOLDERS.

BECAUSE WE WANTED TO BUILD A LONG-TERM COMPANY, A COMPANY THAT LASTS LONGER THAN MY OWN PROFESSIONAL CAREER AND LIFE. THERE IS NO DIFFERENCE IN TERMS OF HOW WE BUILD OUR PRODUCT AND THINK ABOUT THE NEXT CHAPTER. WE ARE THINKING ABOUT HOW WE GO BEYOND THE BROADER CONFIGURATIONS THAT WE DO TODAY, SO THAT IS HOW WE THINK AS A BUSINESS AND THERE IS NO REAL CHANGE IN HOW WE OPERATE OUR BUSINESS. >> SINCE YOU HAVE GONE PUBLIC, WE HAD THE MOST MAJOR GLOBAL I.T. OUTAGE AND EVERYONE STARTED THINKING ABOUT RESILIENCY AGAIN. TODAY, MICROSOFT IS HOSTING A CYBERSECURITY SUMMIT FOR THE FIRST TIME SINCE THE OUTAGE TO REALLY GET LEARNINGS. HOW MANY CUSTOMERS DID YOU SIGN FROM THAT EVENT AND HOW HAVE YOU SEEN THE MARKET SHIFT?

>> IT WAS AN UNFORTUNATE EVENT, BUT IT PREVIEWED WHAT A REAL CYBERATTACK WOULD DO TO OUR ECONOMY. IT REALLY BROUGHT THE DISCUSSION OF RESILIENCE AT THE TOP, SO WE ARE SEEING A LOT OF CIOS HAVING THIS CONVERSATION ON HOW TO KEEP BUSINESSES RUNNING IRRESPECTIVE OF WHAT HAPPENS. WE ARE SEEING EVIDENCE OF RENEWED INTEREST AND FOCUS, AND CYBER RESILIENCE IS THE NUMBER ONE TOPIC IN CYBERSECURITY. THIS IS ONE OF MANY FACTORS. OVER TIME, IT WILL BE CLEAR HOW MUCH IMPACT IT DOES TO ACTUAL DEMAND AND TOPLINE. ED: DID YOU GET INVITED TO THIS SUMMIT THAT MICROSOFT IS HOSTING? WHAT DID YOU HEAR ABOUT IT? BIPUL: MICROSOFT GAVE US HEALTH CARE PARTNER OF THE YEAR BECAUSE WE ARE GOING AFTER PROTECTING THE

UNPROTECTED, THE HEALTH CARE SEGMENT OF THE MARKET AND MICROSOFT IS SERIOUS ABOUT CYBERSECURITY. IF YOU LOOK AT THE NUMBER OF INITIATIVES THEY ARE DOING AND PARTNERSHIPS WE ARE CREATING, WE ARE BRINGING THE CLOUD AND SECURITY, SO AS FAR AS MICROSOFT IS CONCERNED OUR PARTNERSHIP IS STRONG AND THEY ARE SERIOUS ABOUT IT. CAROLINE: WHAT ABOUT GLOBAL GROWTH? WHERE ARE YOU SEEING CEOS WILLING TO SPEND AT THE MOMENT? BIPUL: I WAS IN ASIA FOUR WEEKS AGO AND SPENT ALMOST A WEEK IN JAPAN. IF YOU LOOK AT A COUNTRY LIKE JAPAN, THEY ARE UNDERTAKING TRANSFORMATION BECAUSE THEY WANT TO GAIN PRODUCTIVITY AND HAVE THIS MOMENT FOR THEMSELVES. THEN THEIR CONCERN IS

CYBERSECURITY BECAUSE IN A MANUFACTURING ORIENTED ECONOMY. IF YOU HAVE DISRUPTION BECAUSE OF CYBERATTACKS, THE WHOLE COMPANY COULD COME TO A STAND STILL. SO, FOLKS ARE SERIOUS ABOUT INVESTING IN CYBERSECURITY, PARTICULARLY CYBER RESILIENCE, BECAUSE THEY HAVE DONE A LOT OF THE PREVENTION OF ATTACK. SO, THE FOCUS IS HOW TO KEEP SERVICES RUNNING AND ENSURE THAT IT CONFIDENTLY DO TRANSFORMATION AND MORE. ED: GREAT TO HAVE YOU BACK ON BLOOMBERG TECHNOLOGY. COMING UP, GETTING A BOOST FROM CHINA. THAT CONVERSATION IS NEXT. THIS IS BLOOMBERG TECHNOLOGY. ED: AMAZON'S AUDIBLE IS SET TO BEGIN SELECTING U.S. BEST -- BASED NARRATORS TO TRAIN AI WITH THEIR OWN VOICES.

THE COMPANY PLANS TO USE CLONE VOICES TO CHIP -- CHEAPLY AND QUICKLY INCREASE OFFERINGS. THEY OFFER THE ABILITY TO USE GENERIC VOICE FOR THEIR WORKS. THIS IS THE E-COMMERCE GIANT MAKING ITS STOCKED DEBUT TO INVESTORS FOR THE FIRST TIME. SHARES OF ALIBABA WERE ADDED TO THE STOCK CONNECT PROGRAM. IT ROSE 4.2%, THE MOST SINCE AUGUST 16. AND A SIGH OF RELIEF FOR INVESTORS, RISING WITH SALES REACHING $7.8 BILLION. IT IS NOW MAKING MORE THAN HALF ITS REVENUE FROM HIGH-PERFORMANCE COMPUTING. ANALYSTS EXPECT REVENUE TO GROW 37%. CAROLINE: YOU REFERENCED TESLA HAVING A GOOD DAY. DEUTSCHE BANK NAMING THE EV

MAKER IS TOP PICK IN THE AUTO SECTOR, AND YOU MAY BE REDUCING TARIFFS ON EV'S FROM CHINA AS WE GET NEWS FROM GOOGLE AND APPLE TODAY. ED: 30 DAYS UNTIL ROBOTAXI DAY. WE ARE STILL WAITING. CAROLINE: COMING UP, THE FIRST PRIVATE SPACEWALK MISSION FOR SPACEX. I WILL HAVE ALL THE DETAILS NEXT. THIS IS BLOOMBERG TECHNOLOGY. CAROLINE: WELCOME BACK TO BLOOMBERG TECHNOLOGY. WE ARE TRYING TO BE RISK ON ON THE DAY. WE ARE UP .5% ON THE NASDAQ 100 AFTER A DECENT GAIN YESTERDAY, SO HIGH EVEN THOUGH WE HAVE THE ANXIETY OF AN INFLATION PRINT AND A PRESIDENTIAL DEBATE LATER TONIGHT. THE 10 YEAR YIELD, MAYBE THERE IS SOME ANXIETY WANTING TO GET

INTO THESE MORE HAVEN TRADES. THAT IS THE BOND MARKET DESPITE AUCTIONS COMING UP. LOOKING AT BITCOIN, IT HAS BEEN A BIT VOLATILE ON THE DAY. A DAY OF MICRO NEWS TODAY. STILL TRADING TO THE DOWNSIDE AFTER WE ARE STILL WONDERING WHAT APPLE INTELLIGENCE MEANS FOR SALES OF THE NEW IPHONE 16 MONTH BUT IT LOSES THE FIGHT IT HAD WITH E.U. AND THE TEXT AT THE AO AND THEY HAVE PREFERENTIAL TREATMENT COMING FROM IRELAND. THE YOU STILL WANTS THE MONEY. OTHER ANALYSTS SAYING THIS IS NOT GOING TO AFFECT THE FUNDAMENTAL BUSINESS BUT GOOGLE ALSO LOSES ITS FIGHT IN TERMS OF EXERTING ITS POWER WHEN IT COMES TO E-COMMERCE AND ITS OWN SEARCH PLATFORM. ONCE AGAIN, THEY ARE BOTH

DISAPPOINTED. LET'S HAVE A LOOK AT ORACLE, RECORD HIGH FOR THE STOCK, UP MORE THAN 12% NOW. AI, A DRIVING FORCE IN TERMS OF CLOUD. ED: EARLY TODAY, SPACEX LAUNCHED A ROCKET CARRYING FOUR ASTRONAUTS TO SPACE. >> VEHICLE DOWNRANGE. >> CRUEL FLYING TO NEW HEIGHTS. >> ALL PART OF A GROUNDBREAKING MISSION AIMED AT PERFORMING THE WORLD'S FIRST COMMERCIAL SPACEWALK AFTER A NUMBER OF DAYS OF DELAY. THE MISSION IS UNDERWAY. CAROLINE: A BILLIONAIRE HAPPENS TO RUN A COMPANY ALSO ANNOUNCED PAY. REMIND US WHY THE SPACEWALK IS SO GROUND BREAKING. ED: IT HAS NOT BEEN DONE BEFORE. THE POINT OF THE AMBITION TO GO BACK TO SPACE, BECAUSE HE WAS

PART OF THE INSPIRATION FOUR CREW, IS HE IS THIS ADRENALINE JUNKIE BILLIONAIRE BANKROLLING THIS THING AND PARTNERSHIP WITH SPACEX. HE IS FASCINATED BY PUSHING THE BOUNDARY OF TECHNOLOGY BUT ALSO HUMANKIND'S ACHIEVEMENTS IN SPACE. HE IS NOT ALONE UP THERE. HE IS WITH TWO SENIOR ENGINEERS WHO GO AS MISSION SPECIALISTS. ON THE RIGHT, THE MISSION PILOT IS HIS BEST FRIEND ESSENTIALLY, ANOTHER ADRENALINE JUNKIE AND FIGHTER PILOT. CAROLINE: THEY ARE THE ONES WHO ARE GOING TO OPEN THE HATCH, WALK OUT, AND MAKE HISTORY. ED: WHAT IS DIFFERENT ABOUT THE SPACEWALK IS NOT JUST THE ALTITUDE BUT THE MECHANISM. WE ARE USED TO PICTURES OF SPACEWALK'S ON THE OUTSIDE OF THE ISS OR THEY HAVE AN AIRLOCK.

THIS TIME THEY WILL BE TETHERED. THE ONLY WAY TO DO IT INSIDE THE CAPSULE IS TO OPEN THE HATCH SO THE TWO OF THEM WILL GO OUT ONE BY ONE BUT THERE WILL BE A VACUUM INSIDE QUICK MEETING THE OTHER TWO WHO ARE NOT DOING THE SPACEWALK ALSO HAVE TO HAVE THESE SPECIALIST SUITS AND FLOAT IN A VACUUM. WHEN THE TWO RETURN, HOPEFULLY THEY CLOSE THE HATCH AND ADD OXYGEN TO THE CHAMBER AND THEY WILL COME HOME. CAROLINE: LET'S HOPE. WE WANT TO TURN FROM ONE RACE, THE SPACE RACE COME TO ANOTHER ONE, THE WHITE HOUSE. PRESIDENTIAL NOMINEES ARE SET TO DEBATE ON THE STAGE LATER TONIGHT AT 9:00 P.M. EASTERN. TECHNOLOGY SHOW. IS IT CORPORATE TAX FOR US? IS IT THE FOCUS ON INNOVATION?

ANYTHING YOU THINK WE MIGHT GET? >> YOU COULD GET SOME ON INNOVATION, ACTUALLY SOMETHING BOTH THESE CAMPAIGNS HAVE TALKED ABOUT. THERE IS A WHOLE SEGMENT IN THAT REGARD, SO DONALD TRUMP MAY EVEN BRING CRYPTO INTO THE CONVERSATION AS HE HAS BEEN TALKING ABOUT THAT MORE GIVEN THE MONEY THE INDUSTRY IS THROWING INTO THE ELECTION CYCLE. FOR BUSINESS AS A WHOLE BEYOND TECHNOLOGY, THEY WILL BE AFFECTED BY THINGS LIKE TAXES. KAMALA HARRIS WANTS TO RAISE THE CORPORATE TAX RATE TO 28% AND TO LIFT THE TAX ON LONG-TERM CAPITAL GAINS FOR THOSE MAKING OVER A MILLION DOLLARS. SHE HAS NOT SAID ANYTHING ABOUT UNREALIZED CAPITAL GAINS, ALTHOUGH DONALD TRUMP HAS ACCUSED HER OF THAT.

HER CAMPAIGN INITIALLY SET POLICY IDEAS, WHICH INCLUDED A TAX ON UNREALIZED CAPITAL GAINS FOR THOSE MAKING OVER $100 MILLION A YEAR, BUT SHE HAS NOT OUTRIGHT SAID THAT. THAT IS NOT ON HER POLICY PLATFORM. SHE WANTS TO RAISE TAXES ON REGULAR CAPITAL GAINS AND HELP FUND SOME OF HER OTHER INITIATIVES, INCLUDING DOWN PAYMENT ASSISTANCE FOR FIRST-TIME HOMEBUYERS AND NO TAX ON TIPS. DONALD TRUMP WANTS TO CUT THE CORPORATE TAX RATE FOR COMPANIES THAT MAKE THINGS IN AMERICA AND MAKE PERMANENT HIS 2017 TAX CUTS. THOSE PROPOSALS ARE ESTIMATED TO COST ABOUT $10.5 TRILLION, AND THERE IS NOT ENOUGH NONDEFENSE DISCRETIONARY SPENDING TO PAY FOR THAT. ED:

HE ALSO WANTS TO CUT GOVERNMENT SPENDING WITH THE HELP OF ELON MUSK. THE NEWS CYCLE ALSO INFORMS WHAT THEY WILL DISCUSS SOMETIMES. YOU HAVE THE IDEA OF A SOVEREIGN WEALTH FUND IN THE HEADLINES AND YOU HAVE OUTLINED CRYPTO. IS THERE A SET STAGE WHAT WILL BE ASKED IN THE KEY BATTLEGROUND? >> NO QUESTIONS HAVE BEEN TOLD OF THE CANDIDATES OR TO US. MODERATORS ARE KEEPING THEM CLOSE TO THE CHEST. THOSE ARE PART OF THE RULES, INCLUDING THAT THE MICROPHONE WILL BE OFF FOR THE CANDIDATE WHOSE TURN IT IS NOT TO SPEAK. NEWS DOES DRIVE QUESTIONING. WE ARE GETTING THAT FROM THE DEMOCRAT AND REPUBLICAN SIDES OF THE AISLE. FIRST DONALD TRUMP FLOATED A U.S.

SOVEREIGN WEALTH FUND AND THEN BLEW BURKE REPORTED. THIS IS SOMETHING BIDEN AND JAKE SULLIVAN HAVE BEEN PURSUING. HOW EXACTLY THAT WOULD BE FUNDED, WE DO NOT KNOW THOSE DETAILS. IT COULD BE FUNDED BY TARIFFS, ANOTHER THING WE EXPECT COULD COME UP TONIGHT AS DONALD TRUMP HAS FLOATED A BLANKET TARIFF ON U.S. IMPORTS OR HIGHER TARIFFS ON CHINA. AND CHINA GETS US TO THE FOREIGN POLICY ASPECTS THAT COULD BE PRESENT IN THE DEBATE AND PERHAPS MOST DIFFICULT FOR KAMALA HARRIS AS VICE PRESIDENT OF THIS ADMINISTRATION COULD BE QUESTIONS AROUND ISRAEL AND THE ONGOING WAR IN GAZA. DOMESTICALLY IS THE ECONOMY,

ALWAYS. ED: DO NOT FORGET TO TUNE IN TONIGHT FOR SPECIAL COVERAGE OF THE PRESIDENTIAL DEBATE, FROM 8:00 TO 11:00 P.M. EASTERN TIME. COMING UP, THE FIRM'S STRATEGY ON WHAT IT CALLS BOOTSTRAP PROFITABLE COMPANIES. THAT IS NEXT. THIS IS BLOOMBERG TECHNOLOGY. CHECK OUT THE BLOOMBERG TECHNOLOGY PODCAST. THIS IS BLOOMBERG. CAROLINE: FIRST, A SINGAPORE-BASED FIRM, A PRIVATE LENDER, HAS CLOSED ITS SECOND DEBT FUND. HIS TARGET SAYS GLOBAL INVESTORS REMAIN CAUTIOUS ABOUT THE SOUTHEAST ASIA START-UP INDUSTRY AND THE FIRM HAS RAISED $125 MILLION, SECURING NEW INVESTORS. PLUS, A FIRM THAT HAS BACKED FINTECH HAS RAISED $2 BILLION.

FOR TWO NEW FUNDS, INCLUDING THE FIRST DEDICATED ALPHA GROWTH CAPITAL AND A RESPONSE TO A DEARTH OF LATE STAGE TECHNOLOGY FINANCING IN EUROPE ACCORDING TO THE FIRM'S CEO. A STARTUP BACKED BY SAM ALTMAN LAUNCHED A MODULAR SYSTEM TO DISPATCH CLEAN ENERGY TO DATA CENTERS. THE STARTUP IS RELATIVELY NEW AND ALREADY HAS A DEMAND BACKLOG FROM SOME OF THE LARGEST DATA CENTER OPERATORS. ED: AN OPEN-SOURCE STARTUP IN ARKANSAS RAISED $57 MILLION FROM EXCEL AND A PARTNER WHO LED THE INVESTMENT JOINS US IN SAN FRANCISCO. I HAVE EXPERIENCE COVERING TECH IN ARKANSAS. I HAVE SPOKEN WITH A PARTNERSHIP WHO WANTED TO BE A TECH HUB. I WAS SURPRISED TO SEE A BIT

ABOUT THE COMPANY. >> THE ACCENT WAS A DEAD GIVEAWAY FOR LITTLE ROCK, ARKANSAS. THIS IS AN EXCEPTIONAL COMPANY FOUNDED BY A GENERATIONAL FOUNDER AND THE FACT IT IS IN LITTLE ROCK AND IS BOOTSTRAP AND PROFITABLE AND A COMPANY THAT CONTROLS ITS OWN DESTINY IS CONSISTENT WITH WHAT OUR GROWTH STRATEGY IS. ED: BOOTSTRAPS AND PROFITABLE -- DEFINITION AN EXCELLENT NATION? MILES: WE HAVE THIS PECULIAR GROWTH INVESTMENT STRATEGY WHICH FITS IN WITH THE STRATEGY WE HAVE DEPLOYED FOR 40 YEARS, WHICH IS WE WANT TO BE THE FIRST PARTNER THAT FOUNDERS TURN TO WHEN THEY WANT TO RAISE CAPITAL. THAT REQUIRES FLEXIBILITY. SOME COMPANIES WANT TO RAISE $1 MILLION IN SAN FRANCISCO. OTHERS WANT TO RAISE A

BOOTSTRAP SERIES, AS WAS THE CASE WITH LITTLE ROCK, OR I WOULD POINT TO A COMPANY THAT RAISES IN TORONTO, WHICH MY PARTNER LET A COUPLE OF YEARS AGO. CAROLINE: ONE MIGHT SEE COMPETITION COMING FROM AN AGE-OLD FIRM FAVORITE, THAT IS APPLE. HOW ARE YOU SEEING COMPETITION FROM THE HUGE PUBLICLY TRADED COMPANIES AND STILL ROOM FOR START-UPS? MILES: THE TECHNOLOGY INDUSTRY IS SO HUMBLING. THERE ARE SO MANY GREAT STARTUPS. BUT THE COMPANIES THAT WE REALLY HAVE BUILT OUR GROWTH PRACTICE AROUND ARE JUST GROWING SUSTAINABLY AND PROFITABLY AT A DIFFERENT CADENCE. IT IS A CADENCE OF GROWTH AND DISCIPLINE THAT WE APPRECIATE AND SEEK OUT. WE SPEND TIME IN GEOMETRIES LIKE SYDNEY, AUSTRALIA, SO WE

ARE HUMBLE AND ALWAYS PARANOID AND AWARE OF COMPETITION OUT THERE, BUT WE THINK THESE COMPANIES ARE SPECIAL IN THEIR ABILITY TO BE DURABLE FOR DECADES AT A TIME. CAROLINE: WE HAD DISCOVERY ON YESTERDAY AND THAT LANGUAGE MODEL AROUND BIOTECH. WHEN YOU ARE THINKING ABOUT THE OPEN-SOURCE AREA, WE THINK ABOUT OPEN-SOURCE A LOT BUT YOU ARE TALKING ABOUT OPEN-SOURCE TO BUILD. APPLICATIONS. WHAT IS THE BUSINESS MODEL? DISCOVERY DID NOT TALK ABOUT HOW THEY MONETIZE. HOW READY IS LARAVEL AT CLOUD MONETIZING? >> THE THING WE LOVE IS THEY TEND TO BE ROOTED IN THESE ORGANIC ECOSYSTEMS AND IF YOU ARE LOYAL AND FAITHFUL TO THE ECOSYSTEM AND SERVE YOUR CUSTOMERS AND USERS WILL OVER

TIME I THINK THE BEST OPEN-SOURCE SOFTWARE COMPANIES HAVE DEMONSTRATED THIS WIN-WIN CAPABILITY OF MONETIZING WHERE YOU CAN BUILD THIS REVENUE, BUT I THINK THE BEST COMPANIES INVEST PROFITS BACK INTO THE ECOSYSTEM AND INTO ENHANCING THE PRODUCT ROADMAP. THAT IS WHAT TAYLOR WANTS TO DO WITH THE CAPITAL HE HAS RAISED. CAROLINE: NOT UNACCUSTOMED TO THE OPEN-SOURCE AREA. THANKS FOR JOINING US TODAY. COMING UP, ORACLE HITS ALL-TIME HIGHS AS DEMAND FOR ITS AI CLOUD PRODUCTS ACCELERATES. THIS IS BLOOMBERG TECHNOLOGY. CAROLINE: SHARES OF ORACLE, ALL-TIME HIGHS TODAY AS ARTIFICIAL INTELLIGENCE DEMAND CONTINUES TO BOOST ITS CLOUD COMPUTING BUSINESS, AND THERE ARE NEW AGREEMENTS BEING MADE WITH AMAZON WEB SERVICES.

ORACLE MANAGING TO REALLY FOCUS ON THIS NEW AREA OF GROWTH. >> THINK OF THIS AS THE DOWNSTREAM EFFECT THAT YOU ARE SEEING BECAUSE IT IS THESE CLOUD PROVIDERS BUYING THOSE CPUS AND OFFERING SERVICES TO CLIENTS TO EXPERIMENT AND RUN NEW WORKLOADS, AND THAT IS WHERE ORACLE IS GETTING THAT FROM. NOT TO MENTION THE NEW DEAL THEY HAVE WITH AWS. ED: I DO NOT UNDERSTAND THE DEAL WITH AWS. I THOUGHT THEY HAD FROSTY RELATIONS. WHERE DOES THAT WORK? ALSO, THE BUSINESS DEBATE IS A BIG PART OF ORACLE'S HISTORY. >> EVEN I WAS SURPRISED TO SEE THIS DEAL. I WAS SURPRISED TO SEE THEM DO A DEAL WITH MICROSOFT AND GOOGLE. IF I RAN AN APPLICATION, IT WAS POSSIBLE FOR ME TO TAKE THAT APPLICATION OUT FOR MY DATACENTER AND RUN AN ORACLE

DATABASE ON IT. IT CAN BE DONE, BUT IT WAS EXPENSIVE, SO ORACLE WAS TRYING TO SAY, IF YOU WANT TO RUN AN APPLICATION, WHY DON'T YOU COME TO THE ORACLE CLOUD INFRASTRUCTURE? AT THE SAME TIME, PEOPLE WANT TO TRAIN ON THE DATA THAT RESIDES ON THE ORACLE DATABASE, SO ORACLE HAS FIGURED OUT ONE THING: THAT THE DEMAND IS SO WIDE THEY WILL NOT MIND LOSING MONEY ON ONE SIDE OR THE OTHER, AND IT WILL BE BENEFICIAL FOR THEM IF MORE OF THEIR DATABASES MOVE TO THE CLOUD. FOR ORACLE, THIS MAY BE HELPFUL FOR DATABASE BUSINESSES DOWN THE ROAD. GIVEN THE SHORTAGE OF WORKLOADS, I THINK THEY HAVE ENOUGH IN THE PIPELINE THAT FOR THE NEXT COUPLE OF YEARS YOU WILL NOT HAVE A PROBLEM IN TERMS OF THEIR CURRENT -- THEIR CLOUD GROWTH RATE.

>> LET'S GET THE TAKE FROM ONE OF THE COMPANIES INVOLVED AT AWS. I WOULD LOVE TO START BY ASKING HOW THE DEAL AND RELATIONSHIP WITH ORACLE CAME ABOUT. >> IT IS GREAT TO BE HERE. WE ALWAYS WORK BACKWARDS FROM OUR CUSTOMERS AND THE PACE OF INNOVATION IS ACCELERATING. OUR CUSTOMERS WANT TO BE ABLE TO TAKE ADVANTAGE OF THEIR BIGGEST ASSETS, WHICH IS THEIR DATA. SO WITH THIS PARTNERSHIP, WE ARE ANNOUNCING CUSTOMERS CAN MOVE THEIR DATA SEAMLESSLY FROM ORACLE DATABASE TO AWS TO TAKE ADVANTAGE OF THEIR ASSETS AND INNOVATE AT THE PACE REQUIRED TODAY. CAROLINE: WHAT DO YOU MAKE OF THE TAKE THAT THIS WAS SURPRISING AND THERE IS FOR ENEMIES -- FRENEMIES GOING ON AT THE MOMENT? RUBA: WE HAPPEN WORKING ALONGSIDE

THEM FOR A LONG TIME. WE HAVE HAD JOINT CUSTOMERS WITH ORACLE SINCE 2008, SO OUR FOCUS HAS BEEN WORKING BACKWARDS FROM THE CUSTOMER AND THE TIME WAS RIGHT FOR US TO BRING THIS OFFER TO OUR CUSTOMERS AS THEY ARE THINKING ABOUT HOW TO TRANSFORM BUSINESSES. THEY WANT TO BE ABLE TO TAKE THE DATA THEY HAVE IN ORACLE AND TAKE ADVANTAGE OF LARGE OFFERINGS OF SERVICES LIKE AMAZON BEDROCK AND OTHER SERVICES THEY HAVE GOTTEN ACCUSTOMED TO AND THAT MADE IT THE TIME NOW FOR US TO WORK TOGETHER. IT IS NOT NEW. WE HAVE BEEN DOING IT FOR A LONG TIME, BUT IT BECAME MORE URGENT TO SUPPORT OUR CUSTOMERS. ED: WE HAVE QUESTIONS FROM OUR BLOOMBERG TECHNOLOGY AUDIENCE AND THEY ARE SIMPLE, LIKE HOW DOES THIS WORK?

IS THERE REVENUE-SHARING? WHAT ARE THE OBLIGATIONS THE CUSTOMER HAS TO SIGN UP TO? >> FROM A CUSTOMER PERSPECTIVE, THIS IS A GREAT OPPORTUNITY FOR CUSTOMERS TO LEVERAGE THE SERVICE. THEY HAVE THEIR EXISTING RELATIONSHIP WITH ORACLE AND AWS. WHEN WE LAUNCH IT THIS YEAR, WE WILL PROVIDE THAT INFORMATION TO OUR CUSTOMERS, BUT IT SHOULD BE AS SEAMLESS. IT WILL BE SINGLE BILLING THE SAME WAY THEY SUBSCRIBED ANY SERVICES FROM AWS. CAROLINE: YOUR TITLE IS ALLIANCES. IS THIS A NEW WORLD OF ALLIANCES AT THE MOMENT AS PEOPLE SEARCH OUT COMPUTERS AND WORK WITH IN OPERATORS? ARE YOU SEEING THAT MORE GLOBALLY? RUBA: WE HAVE BEEN SEEING IT FOR A LONG TIME. AWS HAS THE LITTLE -- LARGEST NATIVE CLOUD NETWORK IN THE

WORLD. IT IS IN OUR YOUTH THOSE TO PROVIDE OUR CUSTOMERS WITH CHOICE AND SIMPLICITY SO THEY CAN RUN THEIR BUSINESSES AS SEAMLESSLY AS POSSIBLE AND INNOVATE NOT JUST THROUGH FIRST-PARTY SERVICES BUT ALSO THROUGH THE SERVICES THEY NEED TO RUN THEIR BUSINESSES. WE ARE TRYING TO MAKE IT EASIER ON OUR CUSTOMERS TO TAKE ADVANTAGE OF THAT INNOVATION. ED: ARE YOU SEEING MORE TAKE NOTE NOW OR MOVE BEYOND THE BIGGEST COMPANIES THINKING ABOUT ACCESS TO COMPUTE AND SOFTWARE THEY ARE USING? RUBA: SMALL AND MEDIUM ENTERPRISES ARE CONTINUING TO BE HIGH-GROWTH FOR TECHNOLOGY ADOPTION. THEY ARE CERTAINLY MOVING FASTER. IT IS EASIER FOR THEM TO TAKE ADVANTAGE OF IT, SO WE ARE WORKING WITH THOSE CUSTOMERS AND THROUGH MANY OF OUR CHANNEL

PARTNERS TO REACH CUSTOMERS AND HELP THEM ADOPT INNOVATION IN THE CLOUD. WE WILL CONTINUE TO BUILD SERVICES WITH THEM AND WITH OUR PARTNERS. CAROLINE: THANK YOU. IT HAS BEEN A BUSY TIME FOR THE SHOW AS WELL. SO MANY MARKET MOVES AND MORE GUESTS TO COME. ED: TOMORROW WE WILL BE JOINED FOR AN EXCLUSIVE INTERVIEW WITH A LOT OF DATA POINTS AND A LOT OF QUESTIONS TO ASK ABOUT THE ONGOING TIE-UP OF ALPHABET AND GOOGLE. DO NOT FORGET TO CHECK OUT THE PODCAST ON THE BLOOMBERG TERMINAL AND ONLINE. FROM THE TEAM IN NEW YORK CITY AND IN SAN FRANCISCO, THIS IS BLOOMBERG TECHNOLOGY. ♪

Apple and Google Vs EU, Apple's Big Bet on AI | Bloomberg Technology

Welcome to the Bloomberg Technology YouTube channel. Subscribe for original series and mini-docs on game-changing technologies, profiles on innovators, live conversations with experts, and breaking technology news & analysis from Bloomberg TV.

Bloomberg Technology

Apple and Google have faced legal setbacks with the European Union, resulting in significant financial penalties.

Apple's tax arrangements in Ireland have come under scrutiny, leading to a ruling that the company owes back taxes.

The tech giant is now betting on AI to drive sales of its new iPhone, with a series of updates and features planned for its AI integration.

Siri's updates are superficial, with meaningful changes expected in March and April next year.

Apple's product announcements focused on visual aspects, camera features, and health innovations, with a tempered approach to artificial intelligence.

The company's ecosystem strategy aims to provide continuous upgrades and personalized solutions for users, potentially disrupting the hearing aid industry.

Apple's Revenue Drivers and Rubrik's Growth

Apple's health market is expected to be a significant revenue driver moving forward, while the company's innovation in foldable devices has been limited.

Rubrik's CEO highlights the importance of cyber resilience for businesses, stating that their growth is driven by the increasing need for businesses to run services continuously, regardless of cyberattacks.

Since going public, Rubrik has seen strong performance and is focused on long-term growth, with a positive impact from the recent global IT outage on customer acquisition.

The Impact of Cybersecurity on Business Resilience

A recent cyberattack has highlighted the importance of cyber resilience, leading to increased discussions among CIOs on maintaining business continuity.

Microsoft is actively partnering with companies to enhance cybersecurity, particularly in the healthcare sector.

Global growth is driving CEOs to invest in cybersecurity, with a focus on Japan's transformation and the need to prevent disruptions from cyberattacks.

SpaceX's Groundbreaking Mission and Presidential Debate Insights

SpaceX launched a rocket carrying four astronauts, aiming to perform the world's first commercial spacewalk.

The unique spacewalk mechanism involves the astronauts being tethered and opening the hatch to exit the capsule.

Meanwhile, the upcoming presidential debate is expected to address corporate taxes and innovation, with differing proposals from Kamala Harris and Donald Trump.

The candidates' questions for the debate remain undisclosed, with moderators keeping them under wraps.

sovereign wealth fund and higher tariffs on imports, particularly from China, which may be key discussion points.

The ongoing conflict in Gaza and domestic economic issues are also expected to be significant topics during the debate.

Competition and Growth in the Tech Industry

The tech industry is competitive, with great startups and large publicly traded companies like Apple.

The focus is on sustainable and profitable growth, with a unique cadence that sets these companies apart.

Open-source software companies can successfully monetize by being loyal to their ecosystem and investing profits back into it.

AWS is partnering with Oracle to help customers seamlessly move their data from Oracle's database to AWS, aiming to accelerate innovation and business transformation.

The collaboration is not new, as AWS and Oracle have had joint customers since 2008, but the urgency to support customers has increased.

The partnership offers customers a seamless transition with single billing for services, while also focusing on supporting small and medium enterprises in their technology adoption.