彭博直播转述亚马逊财报中AWS增速加快及AI业务年化收入信息

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-07-31 04:00–04:30(Asia/Shanghai),共 224 段
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[04:00] 🎼Virginia, there's a Santa Claus when it comes with a return on investment. we're going to hear from Amazon in just a minute will be interesting to see what theyve to say.
[04:00] Apple a little bit later, we're also getting earnings this afternoon from coininb aumina as well as strategy and roadblock screen across.
[04:00] The screen with the S&P up more than 600, excuse me 100 points or 1.7%, the dow up more than 600 points or 1.2%.
[04:00] The nasdaq composite closes out the day up by about 2.8% the nasdaq 100 up 3.4 carroll and therus 2000 in on the.
[04:00] With gain of 1.4%Yeah really a bullish tone to the market going back to the what I said at the top i've got to do it&500.
[04:00] Ely, more than 300 names actually losing ground in that index yet 197 to the upside and you can really see the strength in the.
[04:00] At least for the tech names, the information technology sector of the s&P 500 up 5% versus some of these other.
[04:01] Sectors in the red here communication services, consumer staples, health care real estate utilities. the bread was kind of a mixed bag really.
[04:01] was that tech was driving the index at least for today and i just want to just point out too i know we might not get to the decliners but meta down.
[04:01] % on the day, about a 20% slide, more than 20% slide over the last 11 sessions, and that's a big sort of the story here as we got those micro.
[04:01] arningWhat did show some sort of proof of life when it comes to the ai spend meta at least did not show it, at least in the view of investors.
[04:01] will amazon show it those earnings crossing the wire right now net sales 200.6 billion the street was looking for 197.
[04:01] Amazon web services net sales 42.23 that's a beat the street was looking for $40.57 billion.
[04:01] That numberAnd even when you x out to xf, that's still about 37% jump year over year, operating margin overall for the company.
[04:01] .7%That's above street estimates of about 12% here's the forecast for the third quarter amazon says expects.
[04:02] Net sales overall of 197 billion to $202 billion that actually looks a little bit light on the top line the street on average.
[04:02] I looking for about $204 billion on average as far as the bottom line, the company says.
[04:02] kpped the bottom line there for a second Carolol, but we need to dig a little bit deeper into that awS numbers to see how things are going absolutely.
[04:02] Just looking to the headline, we're just kind of highlighting this third quarter net sales forecast, missing estimates, even so though.
[04:02] Right now investors seem pretty impressed that stock is up about 6% here in the aftermarket ti yeah, amon for cash flow fell to an outflow of7 points.
[04:02] 6ix billion for the trailing 12 months shares jumping 6. a5 percent right now, third quarter net sales 197 to 202 the estimate was for2.
[04:02] 3.93 billion dollars just some commentary coming from Andy Jassi, who talks about the growth of.
[04:03] AWS and highlights the growth of AWS noting that AWS grew at 36.7%.
[04:03] Year over year in the second quarter, it was the fastest growth in 18 quarters in the AI and chips business, each eclipse run rates of more than $25 billion.
[04:03] Amazonaz shares up about 8% in the after hours yeah, just going through some of these other results here for Amazon second quarter North American net sales.
[04:03] Actually above estimates here, $116 billion versus estimates of about 113 physical stores.
[04:03] Net sales missing estimates just slightly $5.79 billion versus estimates of about 5.8.
[04:03] Billion dollars again doesn't seem to be affecting the shares, the focus here really on that net sales beat it is a stock that.
[04:03] Moving quite higher in the post market yeah i'm still trying to look through and see if we can get a little bit more clarity on the backlog here because that of course, is what a lot of people are.
[04:03] Focus on with regards to AWS and a beat on that particular segment number, those operating income numbers that I was trying.
[04:04] this is for the company as a whole the company says that for the current quarter it does expect operating income of about 22 and a half to about.
[04:04] 6 and a5 billion dollars the street was looking for about 25 so basically it looks like these numbers for the second quarter as well as for the third quarter.
[04:04] A right around to slightly above and in one case slightly below what the street is looking for, but carol and tim what everybody really wants to know here.
[04:04] Just how much further this capex spend could take awS and whether there is a return i'm curious about why this net sales number came in light and why didn't know either.
[04:04] Yeah, 197 to 202, the estimates for 203 so basically the estimates for 204, even at the high end of the guidance, it' shy by about 2 billion.
[04:04] I'm going to be interested to hear about what that is attributed to and why analysts didn't get what they want want no.
[04:04] I was looking at the backlog, we're not getting the headlines here for the AI and chip segment that a lot of people have been focused on amon is saying that it.
[04:05] That it's exceeding $25 billion annual revenue run rate for aWs's Ai units.
[04:05] A unit of a unit on a $25 billion annual revenue run rate, I know run rate is a dirty word for some people, but know you got to just take it as.
[04:05] He for right now, the company saying that aI and chips each eclipse run rates of over 25 a billion here's what's going wild you don't think of amazon.
[04:05] As a chip company, right and like we know increasingly all of these companies are certainly getting more involved in all of this, but to get that kind of a number on it is pretty important.
[04:05] I just want to go to something that's in the press release. Just gives you an idea of what this company is thinking. They announce an investment of a billion dollars to create.
[04:05] forward deployed engineering, so it's a team of AI engineers embedded directly with customers, embedded directly with customers to co develop and deploy.
[04:05] Gent aI solutions in days rather than months early customers include aen institute cox automotive the mba, the nfl rico.
[04:05] Southwest Airs, I just the way AI is kind of invading in a good or bad way, our world and these companies there in.
[04:06] To give an idea of where that money is going and where the ROI might be coming in the future, I just think it's kind of interesting. And you know, as a credit girl.
[04:06] I am of course really interested and my sources are interested in whether we're actually going to see an roi on all that spending just a reminder here.
[04:06] has sold $62 billion of bonds in the u this year this was a company that really was not raising any debt they didn't really need to.
[04:06] For the longest time, but that just goes to show their commitment to to spending and building out artificial intelligence we're going to continue to keep an eye here.
[04:06] On amazon and dive a little bit deeper into those numbers we're getting some other earnings as well, including roadblocks, which is down about 10% right now coinb the share is of flow.
[04:06] long the water line here as their results now crossing the wire the company's revenue numbers missing ever so slightly about 1..
[04:06] billionThe street on average was looking for about 1.29 billion dollars there's a bigger story going on here.
[04:07] At a time to get through the release, Carol all right, in the meantime, let's go to rivian coming out with its latest results, second quarter revenue folks a little bit better than.
[04:07] Street was looking for 1.66 billion the street estimate was for 1.52 billion second quarter loss per share of 63 cents.
[04:07] Versus a loss of 97 cents a share year over year, second quarter vehicles delivered 12194 the street estimate.
[04:07] Was for less than that of about 11,471 and just for the outlook still seized fiscal year vehicles.
[04:07] Over 65,000 to 70 sees fiscal year adjusted ebitda Emilyily loss of 1.8 to2 billion the estimated.
[04:07] Was for 2.01 billion guys and the stock right now up about 1% in the aftermarket let's talk oh go ahead Emily.
[04:07] All right, just so we're keeping an eye on this too, I do want to go just go back to coininbase just real quickly here, guys, I was looking at those trends.
[04:07] numbers they are well below street estimates 599 million for coin based 2q transaction revenue.
[04:08] We635 there so that kind of gets to this idea of why you had the slight miss on the top line on numbers and we were speaking with black Tenav over at Robin.
[04:08] Earlier remember, obviously that's a much more diversified company, but their crypto business did not do well and that was a big a lot of questions here that with the price of.
[04:08] particularly bitcoin depressed press that that was weighing on trading activity in the same note here, we are getting earnings out of strategy here.
[04:08] Their revenue basically on the nose in line with estimates at about $122.4 million dollars of cash and cash equivalent is coming in a little bit.
[04:08] At 1.7 so coin based down strategy down ever so slightly there we're getting some other earnings as well.
[04:08] Getting reddit here, third quarter revenue forecast feeding estimates they do see revenue 860 million to 870 million.
[04:08] imate of 829.4 million the stock though down in the after hours, about 3% right now just looking through some of these other.
[04:09] Results the second quarter revenue also beat estimates up 61% year over year. so might kind of take a little bit of.
[04:09] Here to see what's weighing on the stock daily active users just a slight beat here, 130.3 million.
[04:09] Of about just 130 flat here all right guys just back to the big one amazon as we await apple that'll be out in.
[04:09] About 20 minutes or so Amazon shares, we continue to see that stock up about 5.6% in the aftermarket after second quarter aWS net sales.
[04:09] Tpped estimates onto the call with analysts to see more commentary that we get around this beat.
[04:09] Certainly a pop here in the aftermarket and then as we mentioned, we're going to get Apple at the bottom of the hour, that is a wrap or cross platform radio TV, YouTube.
[04:09] Bloomberg originals, we do call it the closing bell, Emily and Ramaine, of course, they are on the close on television and of course Tim and I back here on Bloomberg business.
[04:09] Daly folks, we will see you again same time, same place tomorrow and we continue to keep our eyes here on bloomberg.
[04:10] Television on shares of amazon now up about 6% in the after hours trade the results just crossing the wire moments ago second quarter.
[04:10] Sales for amazon web services up 37% year over year that's about6 percentage points higher on a growth.
[04:10] He sayss then what the street was looking for, net sales for the company as a whole, we'll call it 200.1 billion if you want to be precise the street was looking for.
[04:10] About 197 free cash flow does go negative on a 12 month trailing basis here, but as you can tell investors.
[04:10] Don't seem to care it's all about the future, the backlog and of course, AI and chip's $25 billion run weight, at least according to.
[04:10] mazon la, he joins us now head of technology research over at da davidson and gi you're smiling is that because you just looked through this report?
[04:10] Yeah, the AWS result is nothing short of remarkable, it's not surprising because we got the good news from Google Cloud last weekend.
[04:11] Microsoft Azure last night, but for a00, this business is now an $170 billion a year run.
[04:11] To be growing 37% from 3 from 28% last quarter is an incredible acceleration.
[04:11] And that 25 billion of AI revenue, that's real when we talk about, are these companies getting a good return?
[04:11] Yeah, $25 billion of annualized revenue at probably 35% margin.
[04:11] Very good return on that Capex Now, I didn't see Capex guidance in the release, but assuming they don't give us.
[04:11] To scary of a number on the call I would expect Amazon to hold on to these games Well, yeah, I mean that was the first thing that I did a control at.
[04:11] sort of looking for that, trying to figure out whether they were going to actually going to mention it and I guess that will be the bugabbo, but I am curious when you look at the product,
[04:11] That they have being developed the ones they already have there that they're trying to grow and they go through this one by one through the release.
[04:12] sort of way you would actually bet against them finding a way to capitalize on that Capex, right?
[04:12] Now they're doing a very good job of capitalizing on it because they're not just offering the AI compute, they're offering their customers.
[04:12] All the software that comes on top of that, the control plane and the orchestration layer and the harnesses and all the software.
[04:12] you need because buying an anthropic model is not enough anymore, you need to make it work for your business and Amazon just like Microsoft yesterday is doing.
[04:12] very good job of selling their customers that product set, they don't have to have the frontier model, but if they help their customers.
[04:12] Their business customers use the frontier models well, they're adding value and they're capturing the value.
[04:12] In their results right now amon free cash flow falling to an outflow of $7.6 billion trailing 12 months.
[04:13] What do you make of that that had they reported a week ago and Google reported today they'd be getting punished for that.
[04:13] The market had a week to digest the fact that Amazon will have negative free cash flow and so that was already in the stock people understood.
[04:13] That's where they were headed and so there's less of a concern about that there's an understanding that Google, Amazon.
[04:13] And meta will be cash flow negative the standout is actually Microsoft that said they will remain cash flow positive, which is why they got reward.
[04:13] Even more handsomely today in the marketI am wondering also what you make of just how the company is going to be able to.
[04:13] at for cloud customers going forward in an environment where they're not the only leader in cloud.
[04:13] going forward well, that was about a year ago, we were worried about that, we were worried about Microsoft and Google running away with.
[04:13] But AWS is 37% growth is actually as impressive, if not more impressive than the growth at Google.
[04:14] And Microsoft, because it's on a much bigger scale, they're the leader, they're the incumbent a year ago, they were they hadn't had their they hadn't.
[04:14] Fund their footing the key to Amazon, just like the key to Google's growth last week, the key to Amazon is that Anthropic is such a big custom.
[04:14] Amazon is providing most of anthropics compute and that huge ramp in anthropic results this year is flow.
[04:14] Through Amazon Web servicesThat's why they have this accelerating growth because they were wise enough to invest in anthropic early on and secure.
[04:14] were that Anthropic use their compute., before we let you go, I do just have to get your thoughts. We are still awaiting the earnings later this hour.
[04:14] Apple, obviously a much different AI story if you will, but when you start to think about the strategy that they've taken so far under ti Cook.
[04:14] And about a month's time under john Turnis, you give me a sense here as to where they fit in, in your view in this AI.
[04:15] Well, they have it figured out that the reason Apple is trading at such a preview to all the other mega caps is because.
[04:15] They decide that they're going to stay above the front, they're going to let others figure out what technology wins, which frontier model, how it's going to be you.
[04:15] They're going to continue to provide access to any of those models through their system without having to invest these hundreds of billions of dollars.
[04:15] To build out the infrastructure, they're going to let other people do that, fight it out. and then eventually we're going to be using whatever the best model is.
[04:15] Through our Apple devices, our iPhones and Macs, that has turned out to be a fantastically good strategy, especially because it makes investors feel like.
[04:15] I don't need to know the answer to which model is the best I'm going to be using it through Apple anyway, that's why Apple is trading at such a nice premium to all that.
[04:15] Gil always a pleasure thank you laia head of technology research over at da davidson shares of apple.
[04:15] Higher in the after hours trade after being down in the cash session, amazon, which rose 5% in the cash session, looks like up about five or6 percent.
[04:16] And here in our now 8% in the after hours trade as we wait for that conference call to start at the top of the hour we do want to stay in the aI space.
[04:16] Bring in our next guest who has spent the last 15 plus years investing in early growth stage companies in the software and tech space shelling.
[04:16] mananaging partner over at Microsoft's m12 Aures and chl, I want to get your thoughts here on this idea of kind of this narrative that's playing out in terms of,
[04:16] To kind of, you know who's paying for AI, you kind of have, you know, Apple Pay a lot more for memory and all these things, you have the Amazons and other.
[04:16] Companies out there paying a lot to invest in their own capacity that in theory they're then going to sell out here curious.
[04:16] Looking can at this all wrong in terms of like, oh, which layer wins and who's going to be up on top I mean explain the ecosystem right now and where.
[04:16] body fits in Sure, well it's great to see you again, thanks for having me, so there's going to be a lot of layers that win.
[04:17] I don't think it's going to be only the chip companies will win or only the model companies will win really what we're seeing is as enterprise.
[04:17] As enterprises adopt AI, they're going to want that sovereignty over the types of chips they use, the type of infrastructure they use, and the types of models and applications that they.
[04:17] So really, we're in the early innings of all of this, and we probably will see a lot of different layers of the cake be able to.
[04:17] ToW as they penetrate more into the enterprise space Well give me a sense here, I mean, I mean you see in real time.
[04:17] Particularly with regards to private companies and startups and where they're actually spending with regards to their compute budgets, give me a sense.
[04:17] I guess AR those spending levels still where they were and what we were talking about just a few months ago in some cases a few weeks ago, but do you have any sense of kind of?
[04:17] How they're spending it and not just you know the total aggregate amount of cash they're going Yeah, so actually one interesting trend that we've seen.
[04:17] In startups, as well as in enterprises is last year, it was all about getting adoption. It was getting your enterprise workers to.
[04:18] el comfortable using AI use as many tokens as you can. There was this term that was banted around a lot called token maxing and what we found was,
[04:18] This year, CFOs are really starting to clamp down and look for that ROI in the applications in AI that they're really using and deploying.
[04:18] Their enterprises, So definitely everyone is sharpening the pencil. It doesn't mean that they're going to use less AI. It just means that they're really thinking.
[04:18] About the RoOi of every application and use of AI as they deploy it into different parts of their organization.
[04:18] For the future of these legacy software companies that have been around for a long time, I ask as someone who writes about private credit.
[04:18] An industry that made a huge bet on the fact that revenue streams from software companies are reliable and they are stable.
[04:18] Is that changing in the age of these new AI enterprise companies, I don't think so.
[04:19] still in early innings of adoption, so you will see some lumpiness. you will see some companies with really, really fast growing quarters and then other quarters.
[04:19] It'll be a little bit slower as they're developing their pipelines, but I think that the AI adoption is here to stay because the ROI is real.
[04:19] The business models will look different, though, you won't see a traditional SaS business model and you will see these AI companies.
[04:19] Really be able to trade on the fact that they're doing real work so that ROI, that consumption based performance based.
[04:19] Business model will be able to take hold and the companies that are able to demonstrate that ROi will definitely create very, very stable.
[04:19] Long term enduring revenue streams I do want to get your thoughts just as an investor because, you know, I feel like all of these companies.
[04:19] And I'm talking about the large publicly traded companies, their investors too, obviously NviDdias invested in a lot, Amazon as well, they basically become.
[04:19] Investors taking equity stakes and credits and all of the revenue commitments there does that worry you at all, i mean i'm kind of getting to this idea.
[04:20] this circularity and the idea that everything and everyone seems so interconnected, I mean, you sit right in the heart of where all this is taking place.
[04:20] It's not a concern, I think that even in the SaS world and traditionally tech is.
[04:20] It's been very interconnected. I think it's more pronounced these days because we think about data centers, we think about token creation and then the tokens.
[04:20] Go into the applications and then the applications are being used, so it seems very circular and it is.
[04:20] Because remember, a tech stack is all built on top of each other, so there's always some level of interconnection.
[04:20] Cheryl appreciate it as always, chryl Chang there, she's managing partner over at Microsoft Venture Fund M12 taking a broader look here at some of the trends.
[04:20] We're seeing in the investment space when it comes to the AI race with those amon earnings on the books right now, you see the shares up about nine.
[04:21] % in the after hours trade we're still awaiting that conference call it starts at the top of the hour, but another unique story in the aI space of.
[04:21] I Apple we are await those earnings which are imminent as well. Hace state who joins us right now is the founder of research firm As Sco.
[04:21] Talk a little bit more about what we're seeing and hoorace, I do kind of want to pick up where we left off with chryd, the idea that you have kind of one side of this AI equation.
[04:21] Spending a lot for memory and all of the other sort of inflated prices on all of the components and everything, then you have the Amazons.
[04:21] Alphabet spending billion to hundreds of billions of dollars on their data centers that are consuming all of this memory.
[04:21] I am curious as to which side of the trade, if at all, you think looks more attractive I've been following apples for over.
[04:21] I think Apple's probably the greatest story in computing we've ever seen.
[04:21] It's on the consumer side, of course it's mostly devices at this point, but they've seen a lot of change.
[04:22] In the industry and I think that they've hedged their bets on investment, as you pointed out, but I think that the overall having,
[04:22] The customer based 2 and a half billion people, it's probably they're in the best position to distribute.
[04:22] see it comingIs there a sense, I mean, when you look at this memory shortage and the sky eye prices.
[04:22] See along with it that that could course correct anytime soon i mean, right now when you talk to particularly some of the executives.
[04:22] You know, pretty much talking year and a half to two years out before they even talk about any sort of meaningful subsiding of all.
[04:22] That's about right, I don't disagree with the 18 month timeframe.
[04:22] A lot of the memory plans out there required long lead times, I don't see that changing next.
[04:23] Y or so, having said that, Apple's unique, it's one of the largest buyers, it's not the largest.
[04:23] They have their own long cycles with respect to product and I think that they want to get into.
[04:23] Re with suppliers, that is a long term relationship, and I think they're also integrated into a certain degree.
[04:23] farar greater and as a result, I think they've been getting decent pricing on, particularly on the iPhone.
[04:23] Own memories, but as we saw with the price increase about a month ago, the other products are.
[04:23] Getting hit right now with spot pricing, which is far above what they've typically budgeted for in the past and so we.
[04:23] We're seeing price increases from Apple, we probably will see a price increase from the iPhone as well, but it will be problem.
[04:23] In a 10% to 15% range, that's my estimate Apple's approach to AI has been a little bit different than some of the other stocks.
[04:24] In the magnificent 7 what are you going to be looking for when it comes to AI in these earnings Apple?
[04:24] To change their stance with respect to investment, however.
[04:24] The new CEO has indicated through the last quarter's earnings that they are.
[04:24] Suspending or eliminating their net cash zero position, which indicates that they might be in.
[04:24] Through acquisitions, possibly to gain more assets in this space, we also might see something from.
[04:24] John Turns, which is more aggressive with respect to investment in R&D as he is more of an engineer.
[04:24] If you will, more more of closer to the engineering side of things, but I do believe that the.
[04:25] Sort of data center type of spending is not going to change very much Yeah, what about just kind of more on guidance more broadly that.
[04:25] You expect from this company and these earnings coming out very soon right well, we had a significant warning in the.
[04:25] Last few weeks regarding margins, meaning that price through price increases, we might be looking.
[04:25] At pressure on margins, we have indicated from the last quarter that guidance was at 48 point.
[04:25] 48 plus, let's say on margins, which is pretty much the highest I've ever had.
[04:25] We're very curious as to whether we're going to see something drop in earning in that.
[04:25] During the call regarding the margins guidance, especially as the product mix is changing into the full quarter.
[04:25] Horace really appreciate it Horace stated the founder of the research firm as Sco as we wait for those earnings out of Apple, which are.
[04:26] And who better to talk to than mark kman who leads our technology coverage here at bloomberg and has been writing a lot, not only about apples.
[04:26] Big slate of upcoming products, but more importantly, a big changing of the guard this will be actually be the last full quarter for.
[04:26] Tim cook at the hillm i assume is going to be his last earnings call unless he wants to stick around for the next one when john turn has come just kind of framed this for us.
[04:26] You go all the way back to 2011 with the passing of Steve Jobs, a lot of doubts about Tim Cook's ability to shepherd this company.
[04:26] At least in terms of what he returned to investors over this last 15 years or so, he delivered he delivered.
[04:26] First moves after taking over a CEO, this happened in march of 2012, about six months after getting the top job from Steve jobsbs.
[04:26] Was to initiate that share buyback program to start giving shares back, to start investing in a bigger.
[04:27] Waaves as well. And it's really, honestly, it's an amazing time for a CEO transition to happen.😊
[04:27] Doing this exactly when the product mix is about to be shaken up. New types of devices, foldable iPhones. they just launched.
[04:27] Apple upgrade hardware subscription service that we're going to hear a lot about today, it's a really big deal internal that's the.
[04:27] This is the leasing the program and basically they're turning the company into a subscription where you'll be able to own an iPhone by paying for it in perpetuity.
[04:27] In exchanging it for new versions on an annual basis, this is how they're going to lock people in. They floated around this five trillion.
[04:27] Dollar market cap a few days ago. This is how they get to 10 trillion by continuing with these subscriptions and whatnot So Turnus is.
[04:27] beinging handed a lay here, walking in with this big product portfolio, walking in with this leasing program, walking with this market cap.
[04:27] Obviously, the memory situation is a headwind, but that's not really something he's dealing with Anyways. That's all on the operation side, where they have a really strong.
[04:28] Team in place there. So today, I think it's all going to be about Apple presenting continuity, stability and that everything.
[04:28] Is going to continue on the same path that ti cook had apple on even with Turnus transitioning2 thirds into the current quarter.
[04:28] A prop he brought his orange iPhone that's apparently the hot thing right now, this orange iPhone to me because is this like the status So why does everyone have the.
[04:28] You know in China, a lot of people seem to think it's similar to Umeez orange me personally, I mean, I've seen hermes orange.
[04:28] It's not our mez Orange, but that's what everyone seems to think it's more like Bloomberg terminalminal Orange, it's kind of similar to.
[04:28] The font we use here, they're replacing it next month, or I guess September, a little bit of month from now, Turn takes the rains.
[04:28] CEO on September 1st, about a week and a half after that, they're going to announce the next iPhones moving from orange to this cherry deep wine red.
[04:29] How much are Turnus's fingerprints on this product launch all1 of his fingers are all over this product launch,' honestly.
[04:29] In the case for years now, I mean, he's been running hardware engineering. So he's LED the development of every product at Apple for the last half decade.
[04:29] And entering this new AI age, this robotics age, needing new devices to make use of artificial intelligence.
[04:29] Pro focused leader, so you know unsurprisingly, this is all happening at the exact right time Can he successfully lead the A?
[04:29] strategy then when it comes to kind of the software story, not as much the hardware story, everything I've heard is he knows Appleese boldder bigger products.
[04:29] The biggest issue for Apple right now for launching AI devices has been their software, that's been the gate preventing them from releasing some of these new products.
[04:29] Home devices, wearables and what have you Siri AI is in really decent shape if you've used the new public beta, it'll roll out in mid.