彭博电视转述DeepSeek融资、IPO及数据中心扩张旧闻，缺乏新增可交易催化

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-08-07 08:00–08:30(Asia/Shanghai),共 197 段
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[08:00] From the dramatic burst of joint intervention in the yen, we're seeing really a struggle for the currency to maintain those gains.😊
[08:00] 🎼Myriad of things for investors to be watching for, the yen passed that 158 level against the US dollar already.
[08:00] Weening again and this, of course, after all that yen buying that heidi just mentioned by Japan and the U the first coordinator.
[08:00] Since 1998, but we're seeing the pressure on the currency increasing when it comes to those companies more than 700 reporting today we're talking about.
[08:00] The likes of recruit holdings we're talking about olympus as well, the Nikke opening higher a tenth of 1%, but a lot of variables in today's session.
[08:00] As well, given of course the uncertainty around the Japanese yen, interestingly, Japanese car makers came out and they forecast their yen.
[08:00] Assumptions until next year, and they see it around 15160, so not really any meaningful appreciation of the.
[08:00] As of yet, also JGBs do keep an eye on them because we actually saw solid demand on the 30 year JGV auction yesterday.
[08:01] Be watching the 10 year yield at around that 280 as well. take a look at how South Korea is opening because in today's session, whether it's Japan whether.
[08:01] South Korea, we have to watch those memory makers. we had life of Sandisk, we had Western digital, also plunging after their earnings results.
[08:01] Could potentially see some volatility in the stocks in this part of the session, although in early trading in South Korea, we are seeing some upside for some.
[08:01] SongSK highs as well, a lot of volatility for the cost B right, I mean, we're talking about already losses of more than 5% just in the previous.
[08:01] A trading session, so right now a little bit of upside recouing some of those losses, a Korean won, 1424 what.
[08:01] Being interesting is that despite the fact that we have seen weakness in the equity side of things, we have seen some exporter flows really supporting the Korea.
[08:01] Currency, which is now at around a 10 month high and is the best performing Asian currency heidi when in fact, the first half of the.
[08:02] It was actually the worst performer so many trades are being turned on their heads right now and to that point.
[08:02] We're kind of seeing some pressure coming for treasuries at the moment, of course, the renewed questions as to the path ahead for the Fed we also heard potential more.
[08:02] Overfed independence as well with his communications or the efforts being made by president Trump, so treasury is falling in the overnight session certainly.😊
[08:02] As these oil prices continue to rebound from three week lows as well, so these expectations as to what the Fed might do with its rate hike path are really.😊
[08:02] Very much in flux at the moment these expectations have mounted further after we heard that report that chairman Walsh is report.
[08:02] Is prepared to hike if inflation readings in the coming weeks come in hotter than heat like oil, of course, will be a big part of.😊
[08:02] As we see the continued gain in this session, Brent crude coming online high by 1 percent after gains in the previous session as well.😊
[08:02] Iran Iran attacked hostile targets in the Str for moves disagreement over whether US and Israeli ships will be allowed to pass.
[08:03] Stuc that Iran is pushing for as well. We've had quite a heady week when it comes to Australian stocks the ASx at the moment.
[08:03] half a percent after of course, that record high earlier in the week, Sherry and Heidi will be watching one stock in particular.
[08:03] Here in Japan's soft bank posting a beat in its fourth quarter profit with gains from its intel stake and a rise in the value of by.
[08:03] et weaker performance elsewhere in its portfolio, but the focus for investors remains on its growing exposure to open AI.
[08:03] When those AI bets will begin to translate into meaningful returns, bloomberg markets reporter Anthonyy Stevens joins us now with more on this.
[08:03] And Anthony, it seems that at least for now, Southbank was saved from by the likes of Intel, the likes of bytan for example.
[08:03] As sort of a bridge until it can actually get to some earnings from open AI.
[08:04] Softbank has benefited from this kind of diversified approach into the AI space, right they have a big portfolio of companies.😊
[08:04] ACross the AI value chain, and it looks like they were saved by the chip makers while there was weakness in the chip takers.
[08:04] The ability to play that whole cycle is kind of Sobank's big bet, right, and we had management pushback on the idea of an AI bubble quite aggressive.😊
[08:04] Now, the focus on the results, as far as the ADR trading session was concerned, is not that the company made more money. It's the fifth quarter.
[08:04] Positive net income. So that was quite positive. the focus moved over to funding these bets. Sobank, CS has been tracking.😊
[08:04] The cost of funding for any incremental AI bets has been going up in the bond markets with the exception of the US high.😊
[08:04] So there's a lot of pressure on the funding side. So if you look at Sobank as a giant hedge fund betting on AI, they're getting pressure on funding the.
[08:04] It's not on the performance themselves. And that increases the pressure to list some of these holdings, the holdings that they have.😊
[08:05] That have, of course, done really well. ARM being a great example. So the market wants to see them execute, not just invest. They need to get these things.
[08:05] To capital marketss and kind of capture some of that value. Now, going forward, what will be very interesting is whether open AI can stay or.
[08:05] Some of those Chinese competition concerns and maintain its value. Similarlyly, by dance faces domestic competition in the video market.😊
[08:05] Kind of challenging some of its monopoly position. So it's very interesting how the technology space continues to evolve in softbank.😊
[08:05] And the complexity of getting these names into market will become the new focus for markets here.
[08:05] Same time, though, Anthony, we are seeing softbank carrying on with its support of the AI buildout, right whether it's data centers.
[08:05] It's more business around robotics, energy as well and given the portfolio, right, they probably have.
[08:06] High degree of visibility across the chain. So their continued conviction is very important. Now, it's also important because of bank is a major.
[08:06] Fundraiser for a lot of the companies that it does support. It puts its balance sheet behind these companies as kind of a bridge financing between the.
[08:06] Cash top semiconductor makers and the cash strap AI model makers. So their role is very important and as a result.😊
[08:06] Their financial health is extremely important to the AI supply chain. and also their involvement in the US makes them a very.😊
[08:06] part of this east, West bridge that President Trump and others are trying to bridge between the USA AI ecosystem and.
[08:06] Asian manufacturers. So it's playing a very pivotal role, and it needs to play this role of maintaining confidence and holding the line, even though it's.
[08:06] Financs start to get stressed. Now it's for the markets as a whole, this is a great result for softbank in particular and its bond investors in particular.😊
[08:06] The aggressiveness of the approach continues to be a focus Anthony Stevens there with the latest.
[08:07] And of course, we have plenty more companies reporting earnings here in Japan, more than 700 of them, including recruit olympus.
[08:07] Well let's bring in Chris Westton to discuss the broader markets, he's the head of research at pepperpperstone Group, Chris, great to have you with us.
[08:07] Talking about Southlfbank as really a proxy for the AI trade, for open AI, not to mention their investments in AI.
[08:07] Infrastructure, we're seeing this sharp divide between the AI winners now because in the overnight session, we had Western digital also Sandisk.
[08:07] Plunging what differentiates the winners and losers at this point in time in the AI frenzy?
[08:07] Well, I think positioning is such a big part of it now, mean the memory space.😡
[08:07] Come off completely and you know we've seen that now with SK Hyyix and Samsung, that had a bit of a bounce last couple of days, but now back back yeah printing new.😊
[08:08] In this run that we've been seeing recently, and yeah, we know the memory story is still a winner for 20026, 200027.
[08:08] The price action is just absolutely terrible at the moment and know shorts are having an easy time because the buyers just aren't, picking up the stock at the moment and they're having an easy.😊
[08:08] It.
[08:08] we all know that, but, everyone's trying to Microsoft numbers, you, they're three what we've seen from Co.😊
[08:08] Pilot now, 30 million customers there that's growing, Yeah, they're starting to monetize that that return on investing.
[08:08] Proly alphaphabet as well.😊
[08:09] TP side, yeah, they are monetizing this. And I think people having more conviction there. So the capital flows into the hyperscales and yeah they've come off the.
[08:09] A little bit last night, but only Microsoft.
[08:09] Comp there when it comes to anything related to AI and the AI trade and earnings results around.
[08:09] How compelling are they as opposed to say, the macro news right now that has.
[08:09] When you see oil out.😡
[08:09] Of the spotlight and that doesn't really happen so often, but I think when they see the volatility subside and it gives investors a chance to re.😡
[08:09] Look at the fundamentals in the equity market, then we do see some very, very, very encouraging.
[08:10] And volatility bets, I mean, one month S& P Sw is.
[08:10] fairlyairly balanced at the moment, I think people have taken that down, we need to see it a little bit lower to get the Vol targeting funds back into the market, but you know,
[08:10] We've seen over the last four weeks as well is the blended forward EPS growth for this year is up quite nicely.
[08:10] We've taken out significantly through this year.
[08:11] And see well whether where hormone normalizes and that's obviously been very, very or completely unlinear, then we can have a chance to reflect.😊
[08:11] On the fundamentals, which are still very, very positive and corporate you.
[08:11] Whether it's from the F or other central banks, right, yields now surging than you have.
[08:11] Also, the repricing of long duration, AI valuations, at what point do higher yields start to really limit those gains?
[08:11] In the AI related rallies in stocks. Yeah, it's a great question..
[08:11] What we've seen, I mean, if we look at the 230s curve is we've hit a ceiling at 100 basis points, I think you know if that breaks that point too.
[08:12] it a material degree and of course it's not just the level that people look at, but it's the rate of change that makes life a bit harder and that's where you start saying to,😊
[08:12] self, you know, we've seen a massive deluge of corporate bond supply coming through this year, a lot of it's been front loaded, but they's still a significant like 100.😊
[08:12] 3ty billion of IG corporate debt still to go throughout the rest of the year and of course, the longer the higher long end deals go, of course then it means that.
[08:12] The company coming to market for that raising to fund future credit expansions, which as I say's still a lot to go then they have to bring out.
[08:12] And you, incentivize the corporate bond markets to go out and fund that and you know.😡
[08:12] Pricing it above the long end of the curve. then yeah, do they need to come out and reduce duration on those maturities thatre.
[08:12] Funding and what sort of incentive do they need to go above the Treasury market to try and get this away, given there is choice for investors.
[08:13] to go through and some of that corporate debt is still very attractive. So yeah I think it makes life problematic for funding.😊
[08:13] U you know, this future Capex expansion, it makes the present value of that lower as well, although I think they're breakingy.😡
[08:13] Rates are very high, so it does become problematic, but I think at the moment it's more about the rate of change rather than absolute levels.😡
[08:13] So how big of a risk is the Friday's US payrolls that we're expecting now in the broader macroecon?
[08:13] Stability right now in the markets. it's difficult to say, I mean, if you look at the.
[08:13] Price action that we've got in one year, one year forward rates in the US. they're sort of cut stuck in a range,10 year real rates you, have been consolidated.
[08:13] In a seven basis point range for the last seven days or so, and I think that's just thematic that the market is really just not sure what to do now because,😊
[08:13] We've got a really nice balanced pricing for the September Fed meeting in terms of swaps and the market just needs to know more about the Fed's reaction function.😡
[08:14] and they've just been very cagey about that situation, I mean, Kevin Wal has been you know, giving us very, very little and so pricing risk on this.😊
[08:14] IRos number is very much a challenge, not it always is in the fact that what do we look at, do we look at where the absolute job numbers come.😡
[08:14] the revisions, the unemployment rates, but then you've got to work out how much of this influences the Fed meeting and even though we've got a CPI.😡
[08:14] Number next week, which is expected to dissipate slightly, so the Fed has given us huge ambiguity as to what's going on at the moment the market.😡
[08:14] Therefore, is pricing, you, this kind of balanced situation, this uncertainty, and you know so therefore it's very difficult to see exactly.😊
[08:14] how the markets are going to fare, where the balance of risk is at the moment because everything is in balance and we're just waiting for the numbers to come out.😊
[08:14] to get some meat on the bone from Kevin Walsh, but I think he's giving us very little on purpose, and I think that just could make.
[08:15] more the front end of the curve Westson, good to have you with us head of research atstonere watching.
[08:15] The early moves across markets here in asia, especially in nintendo because their fourth quarter operating income beat estimates you can see the gains.
[08:15] Of more than 3% of the $934 million for net income was almost double consensus.
[08:15] After US. tariffs were refunded to the company, we also saw strong switch two titles.
[08:15] We'll be watching for that memory inflation and what the impact could be to the broader Japanese consumer electronic sector Heidi.
[08:15] Yeah, take a look at what we're seeing across software because at a time when we are seeing a little bit sort of more upside in the software.😊
[08:15] because of these hopes that with the AI takec that perhaps you see a bit of a recovery we are broadly now seeing down.😊
[08:15] Part when it comes to WT, of course that has been such a volatile stock here in Australia, we're seeing some of the other Aussie name zero technology.😊
[08:16] One they're also trading by as low as 1.4% datadog hubpot Figma results coming through and not they would you know.
[08:16] broroadly sort of didn't manage to convince investors that were ready for this turnaround in the sector just yet, also watching some of the money.😊
[08:16] Stocks, which of course have been some of the big gainers that have propelled the ASX to that record high this week, we're seeing though a little bit more of a pull.😊
[08:16] For Rio Tinto BHP group there as well, some of the iron ore names have been in focus this week, but we could see some.😊
[08:16] A ahead of that meeting with President Trump and of course, we have seen also some of that stockpiling concerns ahead of tariff decisions.
[08:16] A expected from the president as well more ahead on the Asia trade, this is Bloomberg.😊
[08:17] Everyone has a dream and a lot of dreams are, you know, my dream is to play football.
[08:17] P 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 Great.
[08:18] 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 about.
[08:18] TheTime 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.
[08:18] 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 penthouse now you don't start in the third floor or the lobby, you actually have to start in the basement.
[08:18] He investors, top executives, global innovators.
[08:18] Join me for in depth conversations with the biggest newsmakers on the day's top stories Insight with.
[08:18] on only on Bloom back.
[08:19] 🎼It's jobs day and bloomloberg has the report under surveillance like market backdrop still pretty decent take a look at.
[08:19] 🎼I take a look at the data today and the quits rate that's going to matter today, Jonathan Lisa and Mar and Mike will bring you crucial.
[08:19] 🎼Data and expert analysis at terminal speed. the labor market seems okay. We don't see any wage pressures in the economy.
[08:19] 🎼We' building up to one thing the July jobs report today on bloomloberg.
[08:19] Pbe has learned that deepse is presuming its second.
[08:19] Funding rounds seeking close to $8 billion is bring our China correspondent mi Minlo for more so do we know much about the level of interest given?😊
[08:19] How much interest of course there is in broader China AI at the moment Yeah, the fundraising rounds have been coming fast and furious.
[08:19] So soon after it closed its first round of fundraising, which had drawn interest from the likes of Alibaba, Ten0cent and the national artificial intelligence.😊
[08:20] Investment fund this time in the second run of fundraising, the company is seeking to secure a valuation of 500 billion yuan.
[08:20] That is an increase from the previous 350 billion y in the first round, we understand that monolith management will be contribute.
[08:20] To this round of fundraising and certainly a lot of interest, particularly after the company released that v4 flash model, which has been.
[08:20] Very successful has been topping some leaderboards in terms of the most used model and thats thanks to some of the deep discounts it's been offering.
[08:20] When it comes to prices as well and the company is of course, looking to invest in its data center buildout. we previously reported that it was.
[08:20] Planning to build a1 gigawWt data center in the Mongolia, that is something that could cost up to $50 billion according to SMS.
[08:20] And V is Jensen Huang, so certainly a lot of capital investment needed as the company looks.
[08:21] To potentially file for an IPO, even as soon as this year, according to what sources are telling us the pricing you mentioned.
[08:21] They's so interesting, right, because the economics of China versus the US with these models, the pricing discount has.😊
[08:21] Be such a big part of the story. So how does this price hikee play into things That's right. B is now priced at cents.
[08:21] Comped to several dollars that U. frontier models are charging so a huge difference, as you said, but deepse also just announced yesterday.
[08:21] That it's about to start hiking prices aggressively it didn't give details as to how much it's going to raise prices, but this is.
[08:21] Some analysta are step in the right direction to at least relieve a bit of that pressure and it could be an inflection point for other companies.😊
[08:21] Follows suit to lift prices as well, so it could bode well for the AI sector in general, and it's coming as of course.
[08:21] Companies seeks external funds and that possibly is putting more pressure on the company to pursue more profitability as well.
[08:22] At this rate, some analysts are saying that these companies are still making losses when they priced so cheaply. so it's not really.
[08:22] able in the long run China correspond there latest on deepse, some of the other stories that we're following in this.😊
[08:22] 🎼T, of course, alphabet selling $25 billion of investment grade bonds in one of the year's largest order books for AI related debt by.😊
[08:22] 🎼Youll payout sources say Thursday's offering attractiveors some 115 billion of peak demand, the sale lifts alphabet's debt issuance.😊
[08:22] 🎼2025 to more than $114 billion making it the biggest seller of AI related bonds over that period.😊
[08:22] 🎼anagement is partnering with Anthropic to build an AI powered risk analyst using the company's core models. engineers from both firms were developed.
[08:22] To help risk managers uncover new insights and make decisions across asset classes, the partnership is part of millennium's AI laboratory initiative.
[08:23] 🎼Which is aimed at collaboration and attracting top tech talent where ahead here on the Asia trade this is Bloomberg.😊
[08:24] Bringing you up to the minute news whenever and wherever it happens I'm li.
[08:24] 🎼this is morning. This is.
[08:24] 🎼T its Bloberg money. this is the trade. This is Wall Street week. We to balance of power You're watching Bberg deal We to bloomberg.
[08:24] 🎼We this is Bloomberg television in case you missed it onberg rolling inflation shock is likely to to.
[08:24] Persistists for the foreseeable future, so this increase in inflation volatility will lead to an increase in rate volatility, which means the correlation between.
[08:24] Stocks and bonds have flipped positive and we expect that to continue the role that alternatives play when you think about infrastructure.
[08:24] Is where we're leaning into because clients have been under allocateated, especially on the retail side don't miss.
[08:25] bringingring you the latest business news wherever and whenever it happens i'm scarlet reporting from america's biggest.
[08:25] 🎼Mi Shi Bberg a look what we're watching when it comes to oil.
[08:25] On those as we continue to see this uncertainty over the ceasefire talks, particularly pertaining to this deal with.😊
[08:25] most still really under threat at the moment, given that Iran is seeking to buy U. and Israeli ships from the Strait wanting compensation.😊
[08:25] From hostile countries before they're allowed to pass through, according to local media reports. So there's proposed Iran Oman deal that has attracted.
[08:25] So much optimism this week is now very much endangered, we're seeing Brent crude about about1 and a half percent in early trade, European gas futures, net gas futures.😊
[08:25] Were also up by close to5% there so President Trump though, has reiterated that the water remains under US control up attitude.😊
[08:25] Jill Deis joins us now for more on this and so it feels a little bit like we're back to square one, even just this sort of effort.😊
[08:26] To bring essentially the Strdoff moves back to the prewar situation, you know before February seems to be a very tough battle run.😊
[08:26] Yes, Heidi, it really does seem like we're constantly in this push pull holding pattern, I mean, I would also point out that despite Trump.
[08:26] Remarks just there recall that it was at this point more than 48 hours ago that trump said that its some kind of a deal or indicated some kind of.
[08:26] would be released within 48 hours obviously we're not really there at this point instead, if anything, know one expert.
[08:26] Talk to said it seems like both sides are interested in escalating the demands rather than making any kind of concessions and point to this deal.
[08:26] That is in the works potentially between ir and Oman that would ultimately impose some of some tolls on hostile nature.
[08:26] Specifically targeting the U. and isra for transiting through the stit so you've got you know already in addition to.
[08:27] Prospect of a U.S iran deal looking less likely some other issues that are coming up as well.
[08:27] In fact, we heard from President Trump at a White House event just in the last hour saying that things are going good, right,.
[08:27] Seem like we know much more as to know what the next steps are, but how much pressure is there, I mean we are coming up to.😊
[08:27] And this is not even dealing with some of the trickier issues in that broad disease fire. Yes, that's right. Haiti I mean remember that.
[08:27] Looking at the ceasefire, it's not just about control over the Strait of Her moves. It's also about managing Iran's nuclear capabilities. A lot of concerns are on there that.
[08:27] did seem very difficult to resolve when they went into those peace talks back in ju. I mean, look, this has been the same narrative at this.
[08:27] Point for several months we're approaching ever quickeningly the noveber midterms in the united states, obviously massive domestic.
[08:27] But what it says about price pressures inflation, that kind of thing also has to be weighing on the mind of president don tru.
[08:28] 🎼Antor Gedess is there as we continue to watch for Arthur next developments more ahead on the Asia trade, this is Bloomberg.😊
[08:28] Bing you.
[08:29] 🎼To the minuteute News whenever and wherever it happens, I'm Haslenda Aman in Mumbai, this is Lombberg.😊
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[08:29] 🎼The is really propelling this deal forward the hope is this to open up new markets and provide some additional liquidity. Of course, now they're going to have got a big week coming up.
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