Ed Ludlow
Ed Ludlow is the San Francisco-based host of Bloomberg Tech and a Bloomberg News correspondent covering technology, supply chains, deals, and finance.
John Ternus Takes Apple Helm as Cook Retains Operational Control
Bloomberg’s Mark Gurman says John Ternus’s September 1 appointment as Apple chief executive will be a gradual succession: Tim Cook is expected to remain closely involved in operations, procurement and government relationships. But Gurman expects Ternus, Apple’s hardware engineering chief and iPhone development leader since 2020, to bring more decisive personal control to final decisions as the company prepares a major run of new devices.
Nvidia Positions Its Platform as the Integration Layer for Specialized AI Chips
Nvidia CEO Jensen Huang argues that specialized AI chips need not displace the company’s GPUs: through NVLink Fusion, customers can connect XPUs to Nvidia-based data centers while retaining Nvidia as the broader infrastructure layer. Huang says Nvidia’s general-purpose accelerators serve the full AI lifecycle across model types and deployment settings, giving its platform a breadth that specialized silicon does not match.
Nvidia Invests $3.5 Billion to Connect MediaTek Chips to NVLink
Nvidia is investing $3.5 billion in MediaTek as it expands a partnership aimed at bringing MediaTek’s custom AI chips into Nvidia’s data-center infrastructure. Chief Executive Jensen Huang says MediaTek’s SoCs and XPUs will connect to NVLink Fusion, Spectrum-X networking and Nvidia system designs, allowing customers to use custom compute without building the surrounding architecture independently. MediaTek CEO Rick Tsai argues the combination gives customers a faster, more flexible way to scale AI systems across hyperscale, enterprise and desktop deployments.
Nvidia Positions NVLink as the Platform for Custom AI Chips
Nvidia’s $3.5 billion investment in MediaTek formalises a multigeneration effort to connect MediaTek’s custom AI accelerators to Nvidia’s NVLink-based data-center systems. Jensen Huang argues that specialized chips need not displace Nvidia’s role: through NVLink Fusion, customers could pair their own or MediaTek-designed XPUs with Nvidia networking, switching and other AI-factory infrastructure. MediaTek chief Rick Tsai says the arrangement is intended to shorten the path to market for customers seeking differentiated silicon, though the latest integration work is still under way.
MicroDuck Extends Hugging Face’s Open-Source Robotics Ecosystem
Hugging Face is positioning its $399 MicroDuck robot as an entry point to a broader market for programmable, open-source robotics. Chief Science Officer Thomas Wolf argues that a low-cost, modifiable device can bring more developers, enthusiasts and families into the company’s ecosystem of models, datasets and training tools, while generating hardware revenue itself. He says the self-righting robot’s launch produced more than $500,000 in sales within hours and that robotics datasets are now the fastest-growing category on Hugging Face’s platform.
Hugging Face Says Acquisition and Investment Offers Are Routine
Hugging Face co-founder Thomas Wolf declined to comment on reports that Nvidia is close to buying the AI startup for roughly $13 billion, leaving the status of any deal unresolved. Wolf said Hugging Face has long received acquisition and investment offers, but did not identify prospective buyers or suggest the company was pursuing a sale. He also said this summer’s interest was not unusually active.
Nvidia’s Revenue Outlook Beats Consensus as Margin Pressure Builds
Nvidia forecast fiscal third-quarter revenue above Wall Street’s consensus, but its gross-margin guidance fell short of expectations, shifting investor attention from demand to the rising cost of supplying AI systems. Bloomberg Intelligence semiconductor analyst Kunjan Sobhani argues that planned price increases are largely intended to offset higher wafer and memory costs, while Bloomberg Tech’s Ed Ludlow says Nvidia has yet to show how those costs and higher system prices will be divided across the company, server makers and customers.
Southern Requires Long-Term Commitments Before Building for AI Data Centers
Southern Company CEO Chris Womack says AI-driven data-center demand remains strong, but the utility is treating proposed load as an underwriting question rather than assuming every request will be built. Southern requires long-term commitments, collateral, minimum bills and cancellation fees—including in its 25-year agreement supporting OpenAI’s planned Georgia development—to ensure large customers bear the cost of new infrastructure. Womack argues that this approach can protect existing customers and, in Southern’s models, put downward pressure on their electricity rates.
Mac Mini Starts at $900 Amid AI Demand and Chip Shortages
Apple is raising the entry price of its desktop Macs as customers buy Mac minis and Mac Studios for local AI processing and memory and silicon shortages constrain supply. The Mac mini now starts at $900, up from $600, while an M5 Ultra Mac Studio starts at about $5,500. Bloomberg’s Mark Gurman presents Apple and Oura as companies seeking more value from premium hardware: Apple through higher-priced computing capacity, and Oura through subscriptions alongside device sales; he reports Oura’s IPO could raise up to $3 billion at a valuation above $16 billion and says its hardware and service margins are strong.
Apple Cuts Vision Pro Teams to Expand Siri AI Infrastructure
Apple is cutting more than 200 jobs across Vision Pro, Siri and Intelligent Systems Experiences as it redirects resources toward AI, Bloomberg’s Mark Gurman reports. He characterizes the Vision Pro reductions as a conventional retrenchment—including the elimination of its gaming-initiatives team and less in-house immersive-video production—while the software cuts are intended to make room for engineers building Siri’s new AI infrastructure, voice assistant and upgraded Apple Intelligence.
Trade.xyz and Hyperliquid Seek US Approval for 24/7 Perpetuals
Trade.xyz and Hyperliquid are asking US regulators to permit round-the-clock trading in perpetual derivatives tied to US stocks, commodities and pre-IPO companies. Bloomberg’s Muyao Shen reports that the platforms argue these contracts can provide price signals when conventional markets are closed—and, for companies such as SpaceX, before a listed market exists—while keeping trading in US-linked assets from remaining offshore.
Anthropic Targets $75 Billion IPO at Up to $2 Trillion
Anthropic is preparing an IPO that Bloomberg reports could match or exceed SpaceX’s record-setting debut, potentially raising more than $75 billion at a valuation above its last private mark of $965 billion. Shirin Ghaffary says the company’s case for going public is access to a repeatable source of capital for multibillion-dollar model-training costs, while Liana Baker says investors will have to judge whether AI demand supports that valuation despite reported losses and high compute spending.
Broadcom’s AI Financing Could Reach $100 Billion Through an SPV
Bloomberg’s Ed Ludlow reports that Broadcom is discussing an AI-infrastructure financing structure that could total $100 billion across senior and junior debt, rather than a single $100 billion corporate borrowing. Under the proposed arrangement, an SPV financed by lenders and investors would buy Broadcom equipment and lease it to an end tenant, while Broadcom backstops the $60 billion to $70 billion senior-debt portion. Ludlow argues that the structure leaves debt central to the transaction but distributes ownership, borrowing and equipment-use obligations among several parties.
Meta Becomes One of Microsoft’s Largest AI Customers
Bloomberg’s Brody Ford reports that Meta has become one of Microsoft’s largest AI customers, spending hundreds of millions of dollars annually on Azure and consuming trillions of tokens a week, apparently largely for coding assistance. Ford argues that the relationship underscores how Microsoft’s AI revenue remains concentrated among a small group of large technology buyers, despite its broader customer base. Meta’s interest in building an API business could eventually turn a major Azure customer into a more direct supplier of AI services.
Castelion Raises $1 Billion to Scale Low-Cost Hypersonic Weapons
Castelion’s central challenge is not building a hypersonic weapon but manufacturing thousands of them at low cost, according to co-founder and CFO Andrew Kreitz. The defense startup, valued at $13 billion after raising $1 billion, plans to begin producing its Blackbeard strike system next year while advancing a larger long-range weapon and interceptors. Kreitz says his experience in SpaceX’s finance organization shaped the company’s view that defense-system costs reflect supply-chain choices and customer incentives, not an unavoidable constraint.
Fuse Raises $100 Million to Commercialize Fusion Radiation Testing
Fuse CEO JC Btaiche says the company’s $100 million financing will fund faster, cheaper production of fusion generators while supporting a radiation-testing service already operating for customers. He argues that commercialization will depend less on scientific milestones than on repeatedly building and operating hardware, with private companies playing a central role in helping the US counter China’s investment and construction pace in fusion.
Unitree’s 460% Debut Prices China’s Humanoid-Robot Lead
Bloomberg’s Peter Elstrom says Unitree Robotics’ 460% Shanghai debut, following a 6.1 billion yuan IPO, gave public investors a roughly $50 billion valuation for China’s early lead in humanoid-robot manufacturing. He argues that Unitree’s shipments, domestic supply chain and state backing distinguish China in a still immature market, while stressing that tens of thousands of robots remain a small base for the industry’s much larger demand projections.
Anthropic Cites $65 Billion Revenue Pace Ahead of Planned IPO
Bloomberg’s Shirin Ghaffary reports that Anthropic’s annualized revenue run rate reached $65 billion at the end of July, rising from $47 billion in May as the AI company prepares for a planned fall IPO. She argues that the figure gives Anthropic a larger headline revenue pace than OpenAI’s recently reported $40 billion projection, while cautioning that the companies do not measure revenue in the same way. For investors, the question is whether Anthropic can sustain that growth once it enters public markets.
Family Offices Disclose $3.8 Billion in SpaceX Holdings
Bloomberg’s Devon Pendleton reports that about a dozen family offices have disclosed roughly $3.8 billion in SpaceX holdings, linking fortunes from the Pritzker family, UAE royalty, hedge funds and mining. She argues that the total is only a visible slice of family-office ownership and that position size matters more than headline dollars: Nicholas Pritzker’s $1.8 billion stake is a major allocation, while Sheikh Mohamed bin Zayed al-Nahyan’s $65 million position is comparatively small within his portfolio.
Anthropic Reports 14-Fold Revenue Growth Ahead of Potential IPO
Bloomberg News reports that Anthropic told prospective investors its second-quarter revenue was at least 14 times higher than a year earlier, with a preliminary figure above $1 billion and positive adjusted operating income adding to the case ahead of a possible IPO. Bloomberg’s Rachel Metz says the figures point to growing business and consumer demand for Claude, but cautions that Anthropic’s reported run rate is not directly comparable with OpenAI’s because the companies calculate recurring revenue differently.
Stripe to Buy OpenRouter for More Than $7 Billion
Bloomberg News’s Natasha Mascarenhas reports that Stripe has agreed to buy AI-model access platform OpenRouter for more than $7 billion, a sharp premium to its most recent private valuation. She argues the deal reflects the growing value of services that help developers route work across hundreds of models and optimize usage as the cost of deploying AI becomes a central concern.
Cerebras Cloud Growth Depends on Securing Data-Center Capacity
Cerebras CEO Andrew Feldman argues that renting compute through the company’s first-party cloud has become a fast-growing, profitable business, with cloud and other service revenue rising 281% year over year to $126 million in the second quarter. He says the company’s ability to control its own data-center deployments lets it turn hardware into available capacity more quickly than its hardware customers can, even as demand and a $25.4 billion backlog build.
SpaceX Adds $500 Billion After First Lockup Expiry
Bloomberg’s Carmen Reinicke says SpaceX’s first post-IPO lockup expiry eased fears that newly tradeable insider shares would overwhelm demand: the stock rose 35% in five days, adding roughly $500 billion in market value. But she argues the event has not removed the prospect of volatility, with further scheduled share unlocks—including Elon Musk’s holdings in June 2027—still testing a valuation debate built heavily on Musk’s long-term targets.
GPU Futures Would Hedge AI Compute Rental-Rate Risk
Silicon Data, which has raised $30.5 million, is building pricing and performance benchmarks that CEO Carmen Li says could underpin a risk-management market for rented AI compute. Li said CME’s planned cash-settled GPU futures, tied initially to Silicon Data’s H100 and A100 indices, would let server owners hedge falling rental revenue and compute customers hedge rising costs. She argues that chip depreciation alone does not determine value: residual value depends on the cash flow older hardware can still generate.