Bloomberg TV+复述AMD与Cerebras AI推理合作、Intel财报和AI算力需求评论，未形成新的可交易增量

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-07-24 23:00–23:30(Asia/Shanghai),共 203 段
说明:以下为该时段该直播间的连续语音转录(直播 ASR,可能有同音/识别误差)。请从中识别与 AI算力/芯片/服务器/光模块/液冷/数据中心/大模型/机器人·具身智能/自动驾驶 等相关的、**可交易**的公司/产品/订单/产能/需求/合作/高管或官员表态,判断是否构成可交易事件;若通篇无可交易内容,判为不做。识别误差请结合上下文与常识修正,勿据孤立音近词臆断。

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[23:00] 🎼Business accelerate and AMD and Crebraris are teaming up to challenge NviDdia, promising some of the fastest AI systems on the market.😊
[23:00] 🎼We speakak with Sarebbra's CEO Andrew Feldman, our top story this Friday, a major push to shape the future of AI, a coalition.😊
[23:00] Of technology companies, CEOs and venture firms is urging Washington to embrace open weight AI models arguing.
[23:00] Critical to American competitiveness, innovation and national security. The signatories include Microsoft, Saya Adla and Invidia.😊
[23:00] Cenang, who used his very first post on X to share the letter, it argues quote the United States should lead.
[23:00] Building an open AI ecosystem because it expands opportunities, strengthens competition and extends American technology.
[23:00] Leadership, Bloomberg's tech, managing editor Sarah Fes with us the idea of open weight and open source that's not new.😊
[23:01] Was very, very interesting The timing of the heavy weights of this industry coming out, almost in unison and saying we.
[23:01] to think about this area I mean, it's a huge issue because right now and they didn't say it in the letter.
[23:01] There is a really intense discussion happening about Moonshots Kimmy, this is a model that just came out of China.
[23:01] That is pretty equivalent with US models, and it's changing the way people think about it, whereas previously the Chinese models.
[23:01] We werere good open weight models and able to undercut US. models on price and they were very popular, but they didn't actually.
[23:01] to the point where the innovation looked like it was about equivalent with what you could get from U. And that's caused a lot of.
[23:01] Imcer in Washington, maybe some policymakers threatening to change things, restricts things.
[23:01] Of, US startups really depend on those openweight models. So if US were to have something that was equivalent.
[23:02] m that would really help a lot of the companies, but you know, everything's getting built right now and we have a lot of dependence on these.
[23:02] Chinese models I'm very curious what's going to happen in Washington as we digest what this means for the market.
[23:02] I don't want to trivialize this, but it was fascinating that Gensen Wong elected to create an X account and use his first.
[23:02] PostAs a mechanism to communicate this for Genten. This isn't new. You know, he's talked about the importance of open.
[23:02] Moels, open weight, AI is open source. The distinction is like if you use a closed model, you go via the A.
[23:02] But you can't see the model. You can't download it in open weight, you can download and run the train model, the data code.
[23:02] 't necessarily public on open source, all of it's there available. You were absolutely right to frame this postki K3.
[23:03] But also with what happened with the open AI mistaken hacking of hugging face, it also raised some of the limitations.
[23:03] of US open models, because Huging F wasn't able to defend itself in that respect, What do you think happens next, How serious is?
[23:03] Well, I think that this it is serious because the whole market is resting on this idea that all of this tremendous.
[23:03] Capital expenditure investment, the buildout of data centers, it's all going to end up having a return on investment for US companies.
[23:03] We haven't talked about yet, which is some concern that these Chinese models are built in part using an author.
[23:03] disisttillation of U models, including anthropics Clade. So if all of that investment from the.
[23:03] companiesan in their future innovation is then just being used to boost what China can accomplish.
[23:03] Whether it's through distillation or through unauthorized chips use, that's a matter of big debate too.
[23:04] Really affect the ROi for these companies on the many, many billions that they're pouring into to.
[23:04] Build out of the future of AI That's probably the bit we don't know, you know why did they do this and why now it to count.
[23:04] Dtillation, was it to try and get ahead of what happened with open AI hugging face. We'll find out Bloomberg Sarah Freer, who leads the.
[23:04] Here at Bloomberg Tech. thank you very much. Just turn to earnings. shares of Intel. It's interesting. now down 3% when the earn.😊
[23:04] Hit last night, we saw the stock in after hours go as high high as again of 13%, the chipmaker delivered a stronger than expected.
[23:04] Forecast is demand from AI data centers is fueling a surge in its business, particularly CPU CEO Li Bouttan telling me.
[23:04] CPU demand is now outpacing what is improving supply joiningining us now is Antoine Skyban, head of global technology.
[23:05] Infra research at New Street research, has a neutral rating on the stock with a $115 price target.
[23:05] I want to get into the technology, I want to get into what Intel is actually doing and well, but the stock, I was sat here last night.
[23:05] The gains were massive, then they eroded. Now we're down 3% with time, What has the market changed its mind.
[23:05] I think, I mean, thanks for having me on show, Adam, I think you know what what's happening.
[23:05] Is the market is realizing that actually that's the even the bookcase is already priced in even if you take.
[23:05] Like an intel in 2030, where manufacturing is fully turned around, which, by the way, we had indications of that yesterday on the.
[23:05] P in tunnel, you have a foundry EBT margins up 9 points sequentially, so they're headed really towards breakev.
[23:05] Even if you assume that in 2013 that is fully recovered, they're going to still have some structural cause disadvantage.
[23:06] Just compared to GSMC and gross margins are never going to reach the same level as GSMC and in products even.
[23:06] If they're doing extremely well and even if you know the overall eic tide is lifting our boats.
[23:06] Is probably going to keep losing share to AMD probably going to lose share to arm. you have these hypercars in house designs.
[23:06] Videdia ramping,G, Vera, et cetera, all of that is going to take share from Intel. and if you put all that together,😊
[23:06] The bootcase doesn't make much room to the current levels, just like he's trading at.
[23:06] calalm down, remind yourself and the audience that going into the print, the stock was up 170% year to date, so that might be a part of it.
[23:06] What's interesting as well is that Intel never said they'd fixed everything, just that they were making progress so the way that Libu explained it to me.😡
[23:07] Is that, you know their processes and production for their own products is improving, but they're still in a place where demand.😡
[23:07] For CPU in particular is outpacing what is improving supply right, and when you'll remember last quarter, they basically left money on the table.
[23:07] Because they couldn't meet the demand. Do you recognize that kind of operational progress, Yes, I mean, we heard very.
[23:07] Data points on capacity increases on the coal. First of all, you have yields, of course, are improving that directly increases.
[23:07] The output of the good chips that you can produce on top of that, Intel has a lot of shells that they have been building over the last.
[23:07] The years that they can now fill up with equipment, all of that puts Stel in a good position to number one, as you said.
[23:07] Address the huge demand that there is for CPUs in thisic era and to potentially start addressing demand from external.
[23:07] customersers as well, know, they targeted 15 billion external foundry revenues in 2030. And I think there's increasing evidence that.
[23:08] prettyible. So let's talk about Capex, which will be more than $20 billion now this year and grow over.
[23:08] The next couple of years, Li Bhutan, the Intel CEO is cautious, he won't deploy Capex unless he thinks there'll be a return.
[23:08] How did you interpret all that, But I think it's very reassuring for investors to hear that.
[23:08] You know, in order to generate that demand, Intel still has to execute let's keep in mind that EBD margins for boundary are still in negative territory.
[23:08] Gross margins are probably also still in negative territory. So they still have a lot of progress to make to.
[23:08] In a situation where they can actually really invest that Capex with the confidence that they're going to be able to sell those wafers and turn the profits out of.
[23:08] In those wafers, now, in addition, so you alluded to the $20 billion comment, a lot of that is going to.
[23:09] Of course, for equipment because as I mentioned, they have a tools not space, tools not space, exactly for Wi for that equipment.
[23:09] The question is, what happened in. And for that, I think it's still open ended. You know, it depends on whether they can keep in.
[23:09] Proving those yields, keep improving the cost structure of these wrs and get into positive margin territory for foundry.
[23:09] Let's widen this out to what's happening in infrastructure. What do we learn from Intel's print about the AI?
[23:09] Ie but, of course, like the DCI print is impressive like they're growing nearly 60%.
[23:09] That the DCI business, I think an interesting data point is that also still has a lot of room to.😊
[23:09] To improve their roadmap on the AI XPu fronts, we're talking about like a 2 billion run rate.
[23:09] For everything that's not CPUs, you know in the DCAI segment, they think they have visibility to 4 billion.
[23:10] That's like orders of magnitude, you know, smaller than, for example, like an Nvidia that's approaching a $400 billion annual.
[23:10] Run rates for their data center business. So I think that's an interesting data point also that Intel Steel has plenty of opportunities.
[23:10] Maybe to gain some momentum there on the CPU front, I mean, it's an excellent trade across for AMD.
[23:10] If Intel is growing that quickly, despite, I think, a roadmap that's not that competitive.
[23:10] Like if you look at the density of the chips that they're putting out, like a number of threads, a number of cores, which notes they're manufactured done.
[23:10] I think you know AMD has a much stronger roadmap, so it's definitely a strong wheel cross for AMD on the CPU front.
[23:10] Antonscribevan of New Street Research back on Bloomberg Tech. Thank you very much Com up on the show therapeutics.😊
[23:11] 🎼Company behind Gene editing CRISPR Technology IPO today and look who's joining the show Sc Pararapeutics co founder Sc advisoror.😊
[23:11] 🎼Jennifer Downwner, that's next, this is Bloomberg Tech.
[23:11] In case you missed it on Bloomberg crypto, we've just launched the first regulated perpetual futures product here in the United.
[23:12] and the interest has been pretty astronomical, we like to you get things right with our regulators at the CFTC on products before we list them.
[23:12] I think there's a lot of both retail and institutional interest in perpetual futures and we're likely to see that continue to grow distinguish between.
[23:12] 🎼informed trading insider trading. and we know there's also talks with Congress like are you going to ban people who may have special knowledge?
[23:12] That the public not know so we prohibit members of Congress from trading on our platform. US law already prohibits members of the U.
[23:12] Government from insider trading on information that they have it has been exciting to watch Congress explore legislating in this space and we're largely supportive of.
[23:12] gislative efforts to target those contracts where they may have insider information and we do that work on the exchange to prohibit and attack that activity.
[23:12] 🎼Don't miss bloomloberg crypto live Tuesday when news breaks a red hat across the bloomberg terminal.
[23:13] 🎼burg has you covered Trump's global tariffs are struck down by the US Supreme Court for all the context and clarity you need. There's going to be now tons of tariff.
[23:13] 🎼Headlines until midterm election here at first on Bloomberg bringing you up to the minute political news whenever and wherever it happens.
[23:13] I'm Joee Mattheww on the south Law of the white house, and this is blue Blueom.
[23:13] Jennifer Doudner won the Nobel Prize for pioneering gene editing technology.
[23:13] ISR todayscribe Therauts, the company she co founded just raised 128.7 million in its IPO.
[23:13] Bigger ambition using CRISPR to prevent heart disease, Sc therapeutics cofounder and scientific advisor Jennifer Dner is with us now.😊
[23:13] I've been reading so deeply about this. I think the best place to start is that your lead therapy aims to lower LDL.
[23:14] just a single treatment, but distinct and unlike earlier gene editing approaches you say it does.
[23:14] E a patient's DNA, explain why that's such an important distinction and move forward in the technology.
[23:14] Well great to be here Ed it's an exciting moment in gene therapies because, as you just said, scribe therapeutics has a strategy.
[23:14] That involves what we call epi editing. It means making changes in DNA that aren't permanent, but alter the production approach.
[23:14] And we think this is an incredibly important moment in the field, because it means we can now use this therapy safely and.😊
[23:14] Jen may I ask, you, in any IPO, there's obviously a reason to do it.
[23:14] And raise the proceeds right now, where are you in the cycle and the process and what will you use those proceeds for?
[23:15] Well,scribe therapeuticics is a clinical stage company, We're already in our phasease one trial for the first indication the funds that are.
[23:15] Today will help move that forward and progress these therapies so that they can be deployed much more widely.
[23:15] At the start of our conversation, you explained the technology difference when it comes to regulators, how important is that distinction?
[23:15] versus the sort of permanent editing of one's DNA Well a company that was really.
[23:15] Found on great science and has an amazing scientific team. They've invested the last several years in improving the.😊
[23:15] ology to the point where it's safe and effective to treat disease as a.
[23:15] A strategy for making non permanent changes in DNA. So we think that this is going to be an effect.
[23:15] way to prevent cardiovascular disease in the future that will be so safe that you can provide it much more broadly.
[23:16] That's what we're talking about, you know, let's bring it back to basics, heart disease and in it's amazing you know millions of people across America.😊
[23:16] Across the world takes statins, right every single day. But then there's a lot of evidence, a lot of data to support.
[23:16] That then they stop. This is a one single treatment that you're working towards. And I wondered just how important that will be for the.
[23:16] Behaviors of the patients receiving it. right, We think about this a lot. I think it's very interesting to think about a way.
[23:16] Of treating or preventing disease that doesn't require taking a pill every day, That is really effectively a one or.
[23:16] Time treatment that means that people are free of having to remember to take a pill and they don't have to worry about those kinds of side effects.
[23:16] It's a really interesting moment where I think we're going to see a real change in the way that medicine is delivered in the future.
[23:17] When the Bloomberg tech audience hear the phrase gene editing, you know, inevitably people have concern, right?
[23:17] What is it from a safety perspective that they need to understand, Well, the CRISPR technology is built around.
[23:17] Strategy for targeting DNA precisely with any technology, there's always risk, but I think what's exciting about scribes approach.
[23:17] Is that they've invested several years in ensuring that their strategy, this epi editing approach, is really truly safe.
[23:17] And effective for the indications they're going after. And as we discussed before, this is not a technology now that makes a permanent change to.
[23:17] And I think that's a real You had one of the most interesting and engaging conversations I've listened.
[23:17] This year with Bloomberg's Emily Chang on the circuit, and you talked about AI, and you had a level of skepticism about where A.
[23:17] I really is today across drug discovery, its utility in your field, I know it's not been that many weeks or months.
[23:18] But have you changed your mind, do you still hold that position on the limits of AI in your field right now.
[23:18] It's an amazing technology that allows scientists now to accelerate the kinds of work that we do.
[23:18] That being said, it doesn't replace scientists, we still need innovators, we still need creative people, we still need the new ideas that come out of Lafi.
[23:18] And we don't see that with AI, we see it being a great way to accelerate our ideas and make it possible to do things faster.
[23:18] And I think it's a great partnership Jennifer, bear with me if you would, but we have some headlines that are just crossing that right now.
[23:18] Sscribe is indicated to open at about $29 a share, the IPO priced at 15.
[23:18] Because this was a difficult environment for biotechical IPOs. We're also learning that the allocation about 75.
[23:19] cent of the shares to just 10 investors reflect on that. I mean, this must mean a lot to you, but clearly, investors are very re.
[23:19] I think our investors really get this technology, they understand what's different about what scribe is doing, they understand them.
[23:19] Quality of this team, its leadership and its commitment to real science, and that's what we're seeing, I think reflected in the marketplace.
[23:19] Describe Therapeutics cofounder Jennifer Dudner, thank you very much for your time here on Bloomberg Tech just want to bring you real quick.😊
[23:19] Black Rock began marketing $12.3 billion of high grade bonds to fund a Me data center project.
[23:19] Testing investor appetite. This as concerns grow about excessive AI infrastructure spending. A source told Bloomberg, the bonds are being offered.
[23:19] By superpi investor, holding company tied to Blackrock and JP Morgan Chase and Morgan Stanley are running the offering.
[23:19] Which is expected to price next week Okay, coming up as Starship prepares for another attempt at its 13.
[23:20] 🎼Flight SpaceX reshapes its launch business, turning away, some would be Falcon9 customers.😡
[23:20] Explain it next, this is Bombergt.
[23:20] 🎼
[23:21] My old mentor, Roger Sawback, who told me.
[23:21] 🎼Tranitioned football will never leave you, but you need to leave it Wow, everyone has a dream and a lot of dreams are, you know my dreams.
[23:21] P football and play professional football and you get the dream comes true, but it is going to end and the day it ends, the day before it ends, you're one of the best in the world.
[23:21] Great, the next day you wake up, that's gone, what are you great at and the truth is nothing right I'm not great at anything else.
[23:21] Ialk about it all the time, Steve, is this whole idea of it's not from penthouse to penthouse, and what I mean by that is you played for 15, 20 years.
[23:21] And you're in the penthouse, that doesn't mean that you come to the business world and you're going to be in the penhouse that you don't start in the third floor or the lobby you have to start.
[23:21] Baaseement.
[23:21] The countdown is on.
[23:22] 🎼Everything you need to get the at the end of the market day get ahead of tomorrow's trading with the close weekdays on Bloberg.
[23:22] Tt changes everything.
[23:22] It's time for talking tech, first up, the EU escalated a probe against TikTok, accusing it of failing to protect the safety and privacy.
[23:22] 🎼Of teen users the commission said TikTok's custom accounts for users under 18 can be easily found and viewed by other people.
[23:22] 🎼Online which goes against the Blocks content moderation rule book Plus Softbank is considering an acquisition ofvis.
[23:22] 🎼In an effort to target the AI technologies underpinning robotics, according to sources, a deal could ultimately value.
[23:23] 🎼And more than $500 million and SAP reported stronger than expected cloud growth as more customers adopt A.
[23:23] 🎼I powered enterprise Bloomberg spoke with CEO Christian Klein earlier about that, but also how AI tokens and now managed like.😊
[23:23] 🎼Any other business expense in the R&D cost, you'll see you know a higher token consumption as we are using AI.
[23:23] 🎼To code additional features, but especially now additional agents, but vice ver, you also see a huge productivity increase.
[23:23] 🎼So30% obviously, we're also managing tokens as part of our cost budget you've a headcount budget. you have said party budget and you have to.
[23:23] So our managers in the indigo to market space, they have one budget and they have to manage that also.
[23:23] 🎼Add to the productivity assumptions we reflected in the function After two postponements, all eyes are on SpaceX's.
[23:23] Our ship test flight today, the mission includes upgraded Starlink satellites that will intentionally burn up during reentry. The launch comes space.
[23:24] makes a major strategic bet on starship Bloombergs learned the company is already turning away some potential.
[23:24] 9 customers beyond 2028 as it shifts resources to its next generation rocket, that's all according to sources.
[23:24] ana Pahannkar broke the story and joins us now. really interesting to work with you on this one. There's a lot of detail in there, right?😊
[23:24] Tell us about what we've learned SpaceX's attitude is to those satellite companies coming to them, wanting I.
[23:24] A dedicated ride on Falcon 9 or a rideshare ride. What do we know. So what we know and what we've been hearing.
[23:24] From sources and customers is essentially that SpaceX is fully booked through 2028 and they're turning away.
[23:24] ers for dedicated Falcon 9 launches past that time point so a dedicated launch is when.
[23:25] A satellite company will buy the entire rocket and launch multiple of their satellites door, and they're also turning away customers for their ride share.
[23:25] which is when multiple satellite operators can all put one or two satellites and hit your ride to orbit to test satellite.
[23:25] Or if they only need a couple to get to space, and yeah, this is a really big deal for a long time Falcon 9 has.
[23:25] Commanded a near monopoly on the launch industry, it launches more than any other rocket in the world.
[23:25] It's a pretty big deal that they're halting these reservations for now the background point not just in our reporting.
[23:25] As well with the test flight is Starship matters very quickly, explain why Starship matters so muchship.
[23:25] It's key to Musk's ambitions for SpaceX, which are to build data centers in space.
[23:25] Spanning the Starlink communications network, and it also will be the vehicle that is intended to land humans on the.
[23:26] 🎼Moon in Mars Bberg Santa Peka really top reporting thank you very much now coming up China's Kim K3 rattled.😊
[23:26] 🎼USAI industry where does it stand now joining us next Michelle Guy, the here of the C Institute for Tech Diplomacy at Purdue.😊
[23:26] 🎼Half through the show and that means it is half time, this is Bberg Tech.😊
[23:27] Oh hello there, just wanted to say.
[23:27] 🎼Per is backWe've been scouring the frontiers of science and technology to help explain the difference between the next gold rush.😊
[23:27] 🎼And whatever this is and in season2 the stakes more danger. now that's some high grade.
[23:27] 🎼Iranium mineralization we have a stable climate on this earth right now, we don't most science.
[23:28] We're pushing envelope of technology in multiple directions, software, hardware, chemistry, physics the cable is like very cold.
[23:28] 🎼And more CEOs that can nail the photo shoot hundreds and hundreds of billions of dollars are at stake while the problems are economic.
[23:28] 🎼solutions are to and yes, well be talking about AI There's a lot of humanoid hyp out.
[23:28] 🎼But our future doesn't run on hype it runs on two.
[23:28] 🎼Lovely channels for a region ri with potential for growth and opportunities, but not without its challenges join us.
[23:28] As we get to the heart of African business, politics and economics and ask the question what's next on this episode.
[23:28] to build AI infrastructure so that it's close to where the users are and where the demand is going to be and in the case of African boys is at a dual goal.
[23:29] 🎼I and premiers July 24 only on bloomloberg from the world.
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[23:29] Hey guys.