Tom Giles
Executive Editor for Technology at Bloomberg, where he leads and moderates coverage and live-event interviews on technology, AI, semiconductors, data, and major tech companies.
AI Capex Boom Meets Higher Rates and Public-Market Scrutiny
Bloomberg’s Ed Ludlow framed the day’s tech selloff as a test of the AI trade’s practical limits: higher rate expectations after a solid jobs report, pressure on chip stocks after Broadcom’s outlook, and the capital demands of SpaceX’s looming IPO. Across interviews with economists, executives and investors, the program argued that enthusiasm for AI and space infrastructure remains strong, but the market is increasingly focused on whether compute, energy, supply chains and public investors can absorb the scale of spending required.
Broadcom Says Six Customers Are Building Custom AI Chips to Rival Nvidia
Broadcom chief executive Hock Tan told Bloomberg’s Tom Giles that the company is treating the AI infrastructure boom as an engineering contest rather than a market story. He argued Broadcom’s position rests on multi-generation custom-silicon and networking work with a small set of strategic customers, with Google furthest along and OpenAI on track for production late this year. Anthropic, in Tan’s account, sits in a separate bet: TPU compute capacity provided through Broadcom’s partnership with Google, based on confidence that enterprise generative AI demand would materialize.
AI Demand Is Real, but Productivity Gains Remain Unproven
Bloomberg’s Tech event in San Francisco framed the AI boom as a market caught between constrained infrastructure demand and valuations that leave little tolerance for misses. Executives from Databricks, Okta and Altimeter argued that the next bottlenecks are enterprise context, secure system access, power and capital allocation, while San Francisco Fed President Mary Daly said AI investment is widespread but has not yet produced broad, measurable productivity gains.