Bloomberg Talks

SAP's stock climbed 6% in premarket trading in New York after the company reported strong revenue growth in its cloud business. The company's current cloud backlog grew 26% on a constant-currency basis to EUR22.93 billion in the second quarter, above analysts' forecasts of 24%. SAP cut its outlook for the year, citing a EUR100 million impact from the acquisition of data platforms Prior Labs and Dremio, and trimmed its guidance for non-IFRS operating profit. CEO Christian Klein joined The Opening Trade to talk with Bloomberg's Anna Edwards and Guy Johnson.

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Intel surged in late trading after the chipmaker’s revenue forecast shattered estimates, indicating that booming data center spending is helping fuel a long-awaited turnaround. Sales will be $15.8 billion to $16.8 billion in the third quarter, the company said Thursday in a statement. Even the low end of that range would easily clear the $15.1 billion average analyst estimate.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

• Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research
• Ed Ludlow, Bloomberg Tech co-host

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IBM Chairman and CEO Arvind Krishna says that the recent slowdown in infrastructure deals was driven by a temporary reprioritization of customer capital spending rather than weakening demand. Speaking to Ed Ludlow and Romaine Bostick on Bloomberg Tech, Krishna says that about one-third of delayed products have already resumed.

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House Financial Services Chair Rep. French Hill joins Bloomberg to discuss the House backing Trump's Iran War budget despite midterm fears. He says Sen. Thune has many options in his arsenal to try and pass the budget. He also adds that no one wants high gas prices.

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BNP Paribas CFO Lars Machenil speaks with Bloomberg TV's Guy Johnson and Anna Edwards as the bank reported better-than-expected revenue and profit for the second quarter. "If you look at the cost of risk in our divisions, it is basically stable," he says. "What is that additional basis point coming from? It's because we took a prudent stand saying there is some geopolitical uncertainty and that allows us to take a generic provision for that uncertainty," Machenil adds.

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Blackstone President and COO Jon Gray says that the power of AI is being underestimated and that AI is creating new revenue streams while speaking with Bloomberg News' Dani Burger. The interview comes as Blackstone reported a 26% jump in distributable earnings for the second quarter, buoyed by profits from exits and its artificial intelligence-related investments.

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Listen for instant reaction and analysis of megacap tech earnings from Alphabet and Tesla.

Alphabet reported second-quarter cloud revenue that far surpassed Wall Street’s expectations and said the division’s backlog of contracted business ballooned to more than $500 billion, offering fresh evidence that the company’s massive AI investments are paying off.

Meanwhile, Tesla missed Wall Street’s profit expectations even after a strong quarter of auto sales, a setback for the electric-vehicle maker as it looks to build out new lines of business in robotics, autonomy and AI.

To break down all of this, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

• Ed Ludlow, Bloomberg Tech co-host
• Keith Naughton, Bloomberg News Auto Reporter
• Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research

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Wells Fargo Chief Executive Officer Charlie Scharf says he's "big time bullish on the US." He talks about the state of the US consumer, the economy, earnings and where his employees want to live and work. He speaks exclusively to Bloomberg's Romaine Bostick.

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AT&T Chairman & CEO John Stankey says he believes the company's valuation will "ultimately correct itself" and that AT&T is positioned to be indispensable for future workloads in the AI environment, while speaking with Bloomberg News' Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern on Bloomberg Surveillance. He also spoke about satellite and Starlink during the interview, saying SpaceX has served less densely populated areas.

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Senator Mark Warner (D-VA) says Congress must move quickly to establish safeguards for artificial intelligence, warning that the technology could severely disrupt employment for recent college graduates. Warner also says he currently opposes the administration's supplemental funding request for the war with Iran and explains why he voted against Jay Clayton's nomination for director of national intelligence. He speaks with Joe Mathieu and Kailey Leinz on the late edition of Bloomberg's "Balance of Power."

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