Europe’s AI worriers

Report urges an ambitious effort in AI to keep the continent from sliding into irrelevance. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot CSOP SK Hynix Daily 2x Leveraged Product HK$109.45 +3.3% SK hynix Inc ₩2,180,000 +2.0% Kioxia Holdings Corp ¥81,870 +8.5% Market data as of 02:40 AM ET. Data is subject to provider delays. Your watchlist Top Stories Meta’s Manus divorce: The social media company has erected a firewall between its operations and the AI company it acquired for $2 billion. The Chinese government wants to break up the deal. Amazon’s water use: The company pushed back against complaints that data centers are using a disproportionate amount of the world’s resources. Here are the numbers Amazon released. Adobe’s leadership vacuum: The software company is losing its veteran chief financial officer just three months after its longtime chief executive officer said he would be stepping down. Investors are worried about the departures. Top Reads Korea Fines Coupang Record $409 Million for Data Breach A South Korean regulator fined the country’s largest e-commerce platform, owned by US-listed Coupang Inc., a record 624.7 billion won ($409 million) for a wide-ranging cyber-intrusion that escalated into a diplomatic tiff with the US. Kioxia Becomes Japan’s Most Valuable Firm as AI Mania Goes On Memory chipmaker Kioxia Holdings Corp. replaced Toyota Motor Corp. to become Japan’s largest company by market value, underscoring how the global artificial intelligence boom is reshaping the country’s corporate landscape. SpaceX Is Being Treated as ‘Simply Too Risky’ for Funds With Governance Mandates The list of sustainability-focused fund managers opting to blacklist SpaceX is growing, as they contemplate the unprecedented level of control that Elon Musk will hold over the rockets-to-chatbot behemoth. Beyond The Brief A group of researchers came up with a novel way to sound the alarm that Europe is slipping into “irrelevance” in the competition to develop and use artificial intelligence, Mark Bergen reports in today’s Tech In Depth. The researchers wrote a sci-fi novella in which they imagined a time when Europe had failed to keep up — and offered a prescription for change, he writes. Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg’s journalists around the world. This Week In Q&AI A number of government officials and tech industry executives are raising an idea that the US create a public wealth fund to take stakes in AI firms and spread the returns among the American people, Shirin Ghaffary reports in this week’s Q&AI. The details remain very vague, she writes, but the idea is a recognition of the public unease that the technology is generating great wealth for a small sliver of society. You’ve got questions about AI. We’ve got answers. Sign up for Bloomberg Technology’s weekly Q&AI newsletter. Before You Go... Banks Curb Hedge Fund Bets on SK Hynix, Samsung After Rally Global banks are curbing hedge funds’ leveraged bets on Asia’s top chipmakers including SK Hynix and Samsung after a blistering rally this year raised concerns of a potential pullback, according to people familiar with the matter. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |

Ready for liftoff

Bloomberg Morning Briefing Americas  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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Good morning. SpaceX is ready for blastoff on Wall Street. Knicks mania has fans spending freely in New York. And Steven Spielberg has high hopes for Disclosure Day. Listen to the day’s top stories. — Angela Cullen Market Snapshot S&P 500 Futures 7,423.25 +0.4% Nasdaq 100 Futures 29,547.50 +0.3% Bloomberg Dollar Spot Index 1,207.05 +0.0% Market data as of 07:02 AM ET. Data is subject to provider delays. Your watchlist SpaceX looks ready for blastoff when it debuts on Nasdaq this morning, after raising $75 billion—putting Elon Musk within reach of becoming the world’s first trillionaire. Shadow markets are pricing in a jump of at least 35% at the open. Asian investors, largely shut out of the IPO, have come up with creative ways to try and capture some of the gains, including buying into the space supply chain, industry-themed ETFs, and Nasdaq 100 Index-tracking funds. For an indication of just how stratospheric the offering is, here’s how it compares, but there’s one metric where it falls short. Magnificent 7 stocks are climbing in anticipation of SpaceX’s debut. Stock futures are also getting a boost from a potential US-Iran deal. A senior Iranian official indicated overnight that an agreement to reopen the Strait of Hormuz is likely, while a G7 official said it will likely take the form of a memorandum of understanding, rather than a final deal. Oil extended declines. Water stops or money grab? The 2026 FIFA World Cup, with 48 teams and three host countries, is the largest ever, and the “Americanization” of the tournament promises huge advertising revenue. Fox is turning water breaks, introduced to matches for the first time, into ad breaks by cutting to commercials while players hydrate. Comcast’s Telemundo, which owns the Spanish-language US rights, is taking a different tack, though sponsors still get their airtime. But, despite its best efforts, soccer remains a tough sell in America’s crowded sports marketplace. Here’s why. Gary Lineker Is Worried About the Trump World Cup The former England star wants to talk about football on his new Netflix show, but says he’s also ready to call out the US president. Read more Wild weather. The US declared a power emergency in the southeast as forecasters warned of dangerous heat that’s likely to stress power grids. Chicago was placed under a tornado warning on Thursday night, and disruptions to air travel and power supply persisted after the storm moved through. As of 11 p.m. ET, 1,474 flights were canceled and nearly 600,000 homes and businesses were without power. Deep Dive: Knicks Mania Erupts Salaar Rabbani in line for the NikeNYC Knicks pop-up. Photographer: Kenneth Bachor/Bloomberg The New York Knicks’ breathtaking run through the NBA playoffs has become a cash machine for businesses all over town—and fans are spending freely. Wednesday’s epic comeback at Madison Square Garden sparked euphoria from the Bronx to Brooklyn. Now, just one win away from their first NBA title since 1973, Game 5 in San Antonio on Saturday promises to be a thriller. One unlikely winner is Skechers. When OG Anunoby soared to set up Wednesday’s historic victory, he wasn’t wearing Nike or Adidas. He was wearing Skechers, which only released its first line of technical basketball sneakers in 2023. It would be an understatement to say the mood in NYC is electric. But it’s not all down to the Knicks. SpaceX’s IPO has also minted fresh wealth for a few Wall Street bankers (and their lawyers), giving the city another reason to celebrate. The Big Take Illustration: Viktor Hachmang for Bloomberg Businessweek Online casinos were a big driver of the Isle of Man’s economy. Lately, they’ve become a liability for the tiny British island. Big Take Podcast Who’s Really Paying for This Year’s World Cup? Opinion Photographer:  Ethan Swope/Bloomberg Investors who missed the AI rally or got bruised by betting on the wrong companies will now feel pressure to clamber aboard SpaceX, Lionel Laurent writes. But as checks and balances wither in the face of FOMO, the skeptics may still prove prophetic. More Opinions Matthew Brokker What the World Cup Can Tell Us About Finance Hal Brands Ukraine Is Winning — for Now at Least Gautam Mukunda AI Will Steal Your Motivation If You Let It Play Alphadots! Our daily word puzzle with a plot twist. Today’s clue is: Auto pilot Play now! Before You Go Photographer: Mike Coppola/Getty Can Disclosure Day give Steven Spielberg the blockbuster comeback that’s eluded him since The Fabelmans and a West Side Story reboot bombed at the box office? The sci-fi movie revisits a genre that used to be a surefire bet for the legendary director, but it’ll need to sell $300 million in tickets globally to break even in cinemas. A Couple More Why Millions Are Falling for Thailand’s Same-Sex Romance Dramas Bad Bunny’s Sold-Out Shows Illuminate Spain’s New Lifeline: Immigrants More From Bloomberg Enjoying Morning Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. Check out these newsletters, too: AI Today chronicles the disruptions and threats of AI Market Moves delivers the pulse of the market to your inbox Markets Daily has what’s moving in stocks, bonds, FX and commodities Opinion Today for an afternoon roundup of our most vital opinions Texas Edition dives into the companies and people powering America’s second-largest economy Explore all newsletters at Bloomberg.com. We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Morning Briefing Americas newsletter. 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