Bloomberg Businessweek

Zwift is a massively multiplayer online cycling and running physical training program that enables users to interact, train, and compete in a virtual world.

Eric Min is co-founder and CEO of Zwift. He discusses using AI for the online cycling and running physical training program.

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Dell Technologies Inc. roughly doubled its growth estimates for sales and profit for the next two years, and said demand for artificial intelligence products will extend those higher projections at least through the 2030 fiscal year.
The company unveiled a “long-term financial framework” that calls for sales to rise at a rate of 7% to 9% annually for the next four years, while earnings per share, excluding some items, will increase 15% or more. The company in 2023 had estimated revenue growth of 3% to 4% and adjusted EPS of 8% or better. Dell is announcing the updated numbers, which apply through fiscal year 2030, at an investor event Tuesday in New York, Chief Operating Officer Jeff Clarke said in an interview ahead of the event.

Today's show features:

• Woo Jin Ho, Bloomberg Intelligence Senior Hardware and Networking Analyst
• Erin Harkless Moore, Vice President and Managing Director, Investments, Pivotal Ventures
• Eric Clark, Accuvest Global Advisors CIO
• Brandon Scott, the Mayor of Baltimore

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Paramount Skydance Corp. acquired the online news site the Free Press and named founder Bari Weiss editor-in-chief of CBS News, a move likely to stir controversy inside and outside of the venerable news organization.

Weiss, 41, will report to Paramount Chief Executive Officer David Ellison and oversee the editorial direction of a news division whose programs include the prestigious 60 Minutes and CBS News Sunday Morning. Financial terms of the deal weren’t disclosed, but other outlets have reported the acquisition values the Free Press at about $150 million.

“Bari is a proven champion of independent, principled journalism, and I am confident her entrepreneurial drive and editorial vision will invigorate CBS News,” Ellison said in a statement on Monday. “This move is part of Paramount’s bigger vision to modernize content and the way it connects – directly and passionately – to audiences around the world.”

To discuss how Weiss' selection could change CBS News, hosts Carol Massar and Tim Stenovec speak with Katie Fallow, Deputy Litigation Director for the Knight First Amendment Institute at Columbia University 

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Advanced Micro Devices Inc. landed a blockbuster deal with OpenAI to build artificial intelligence infrastructure, giving the chipmaker a chance to show it can mount a challenge to Nvidia Corp. in the AI computing industry.

AMD shares soared 24% to $203.71 after the agreement was announced Monday, adding $63.4 billion to the company’s market valuation. It’s now worth $330.6 billion, more than Coca-Cola Co., General Electric Co. or Chevron Corp. 

OpenAI will deploy 6 gigawatts’ worth of AMD graphics processing units over multiple years, according to the pact, which is just over half the size of an agreement the AI startup recently reached with Nvidia. It also sets the stage for OpenAI to acquire a large stake in the chipmaker.

The deal represents a high-stakes test for AMD — one that could deliver tens of billions of dollars in new revenue and burnish its status as a serious contender in AI technology. There are also risks: It further ties AMD’s prosperity to an AI market that some worry is in a bubble.

Today’s show features:
Bloomberg Tech Co-Host Ed Ludlow
Bloomberg Intelligence Global Head of Technology Research Mandeep Singh
Rick Welts, CEO of the Dallas Mavericks, and Bloomberg News Texas bureau Chief Julie Fine
Drive to the Close with Lesley Marks, CIO for Equities, Mackenzie Investments

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A developer of residential towers in New York, Miami and Los Angeles has embarked on a new venture, with plans to spend more than $1 billion converting cruise ships into luxury condos on the seas.
Earlier this year, Russell Galbut, managing principal of developer Crescent Heights, struck a $230 million deal with Norwegian Cruise Line Holdings Ltd. for a long-term lease on his first ship. Galbut said he intends to upgrade the vessel, known as the Seven Seas Navigator, and sell berths to customers who’d want to live on the ship for extended periods of time.
Crescent Seas, the new entity created for the effort, will offer 210 units on the Navigator at prices ranging from $750,000 to $8 million. Galbut aims to have the ship ready for its initial voyage in late 2026, and details his unique business plan with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Damian Sanchez, (Damian J to music fans) is a Miami-based jazz musician. A car accident landed him in the hospital with multiple fractures to his leg. Once there, he faced the difficult decision of whether or not to take the pain medication that was offered to him. With patients like Damian in mind, Dr. Paul Negulescu and the research team at Vertex are thinking differently about pain – they’re investigating potential non-opioid based treatment options that aim to target pain differently.
Produced by Bloomberg Media Studios and Vertex Pharmaceuticals.
 
Featured guests:
Damian Sanchez is a Miami based jazz musician. He is the founder of the Damian J Foundation.
Norm Buckley is the Scientific Director of the Michael G. DeGroote Institute for Pain Research and Care at McMaster University. 
David Altshuler is the Executive Vice President, Global Research and Chief Scientific Officer at Vertex Pharmaceuticals.
Paul Negulescu is a renowned cystic fibrosis researcher and now the Senior Vice President leading the team researching pain at Vertex Pharmaceuticals.
Read more about Vertex's approach to targeting pain at VRTX.com

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Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim Stenovec

Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.

You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.
Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Hamas agreed to release all Israeli hostages captured in its Oct. 7 attack but said the rest of President Donald Trump’s 20-point peace plan would be subject to negotiation.
The statement was a positive step that still raised questions about whether the promise would be sufficient to end the fighting. It also didn’t address Trump’s demand that the group disarm
In a statement, Hamas said it agreed “to release all Israeli prisoners — both living and deceased — in accordance with the exchange formula outlined in President Trump’s proposal, and contingent upon the necessary field conditions for carrying out the exchange.”
Hamas also said the hostages would need to be released “in a manner that ensures the cessation of the war and the full withdrawal from the Gaza Strip,” a caveat that raised questions in Israel about whether the group would go through with the plan. Hamas also said it was ready to transfer administration of the Gaza Strip to “a Palestinian body composed of independent technocrats.”
The group also said other parts of Trump’s 20-point plan “require a unified national stance and must be addressed based on relevant international laws and resolutions.”
Today's show features:

• Bloomberg Intelligence Senior Defense Analyst Wayne Sanders on Hamas agreeing to release remaining Israeli hostages
• Bloomberg TV & Radio International Economics & Policy Correspondent Mike McKee on his conversation with Federal Reserve Governor Stephen Miran
• Karin Kimbrough, Chief Economist at LinkedIn, on the health of the US labor market
• Dr. Iman Abuzeid, Co-Founder and CEO of Incredible Health, on building the largest career marketplace for permanent healthcare workers

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Drawing from decades leading New York City’s health department after 9/11, directing the CDC during the Ebola epidemic, and fighting tuberculosis and other lethal threats in India and around the world, Thomas Friedman wants you to protect your own health, safeguard your community, or solve seemingly impossible health challenges.

In his book, Thomas Frieden combines compelling stories with insider knowledge to show you how to win the battle for health. He also bridges the lethal gap between scientific knowledge and life-saving action. Dr. Frieden speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

After years getting shunned by major banks, Donald Trump’s money has found another place to call home: Citigroup Inc.

The president’s son, Eric Trump, signed up as a client of the third-largest US lender and established a trust there that holds some of his father’s money, according to people with direct knowledge of the matter, who asked not to be named discussing the confidential arrangements.
The relationship started after Chief Executive Officer Jane Fraser reached out to congratulate President Trump on his election win in November. The new trust is a sensitive topic inside the bank, which weighed how to limit access to information beyond key staff — such as wealth management chief Andy Sieg, who led talks with Eric Trump, and Kent Lucken, a Citigroup banker handling the relationship, some of the people said.

The unwillingness of many banks to safeguard Donald Trump’s wealth has irritated the president, who publicly lashed out this year at JPMorgan Chase & Co. and Bank of America Corp., claiming they refused his money. Both firms have said they don’t deny business on ideological grounds.
Traditional financial institutions “did everything they could to try and cancel us,” Eric Trump said in a Bloomberg Television interview last month. The president told CNBC he “ended up going to small banks all over the place.” A Citigroup spokesperson declined to comment. There was no response to a request for comment from the Trump Organization, the family’s real estate business where Eric Trump is a top executive.

Today's show features:

• Bloomberg News Banking Reporter Todd Gillespie on Trump’s Wealth, Once Spurned by Banks, Gets New Home at Citi
• Scott Wisniewski, President of AST SpaceMobile, on the market for cellular broadband in space and competing with Starlink
• Bloomberg News Managing Editor, Media & Entertainment, Lucas Shaw on the Bloomberg Businessweek cover story profiling Mr. Beast
• Drive to the Close with Adrianne Yamaki, Founder and Managing Partner of Strategic Wealth Capital

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