Kurt Wagner, Bloomberg Senior Reporter, joined Bloomberg’s Paul Sweeney and Jess Menton to talk about his interview with META CEO and founder Mark Zuckerberg detailing the company’s newest AI model.
In a crowded market for AI tools, Mark Zuckerberg wants to win on price.
Meta Platforms Inc. unveiled a version of its most advanced artificial intelligence model, Muse Spark 1.1, that includes a new paid tier for developers, marking the first time Meta has charged businesses for access to its models and providing a new revenue stream. It’ll be among the most affordable options on the market, Zuckerberg said in an interview ahead of the release.
“Since this is not an open source model, this is I think the first time that we’re doing a real serious API,” Zuckerberg said, referring to the application programming interface used to access Meta’s AI. “And the pricing is going to be very aggressive and attractive.”
The new model’s standout improvement is in its agentic capabilities, the Meta chief executive officer said. Agents are the big theme of AI this year, with the label applied to systems that can complete multistep tasks on behalf of a user. Zuckerberg described Muse Spark 1.1 as having “state-of-the-art or very close to it” agentic reasoning and tool use. The model is also greatly improved when it comes to coding and Meta employees are using it internally to build products and features for various apps, he added.
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Randy Kroszner, University of Chicago Booth School professor of economics and former Federal Reserve Governor, joins Scarlet Fu and Tom Keene on “Bloomberg Money.”
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Elon Musk’s rocket, satellite and AI conglomerate is set to raise $25 billion of bonds in five parts on Tuesday, in its debut bond offer, and is paying a relatively wide premium over Treasuries to get the deal done, people familiar with the matter said. Ed Ludlow has more.

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“Balance of Power: Late Edition” focuses on the intersection of politics and global business. On today’s show, Wendy Sherman, former Deputy Secretary of State in the Biden administration and lead US negotiator for the 2015 Iran nuclear deal, says diplomacy with Iran is “quite challenged” and argues recent negotiations were “never serious or as complex as they needed to be.” Matt Robison, a former Democratic campaign manager and legislative director who has worked with members of Maine’s congressional delegation, says Democrats are getting a chance to reset Maine’s Senate race after Graham Platner suspended his campaign following a sexual assault allegation he denies. Mike Sommers, President and CEO of the American Petroleum Institute, says oil markets have held up better than many feared during the latest US-Iran escalation. But Sommers warns prices will remain elevated as long as traffic through the Strait of Hormuz is restricted.

Chapters:

00:01:49 Bloomberg’s Jeff Mason on US, Iran Trade Airstrikes as Fears Grow of a Return to War
00:04:54 Wendy Sherman, Former Deputy Secretary of State in the Biden Administration, on Fate of Iran Ceasefire Uncertain After Escalation
00:13:35 Wendy Sherman on Trump Says He Will Let Ukraine Make Patriot Missiles
00:16:06 Power Moves: Top Financial Moves
00:20:03 Matt Robison, a Former Democratic Campaign Manager, on Platner Suspends Maine Senate Campaign
00:25:02 The Debrief with Mario Parker: Trump’s Iran Escalation Creates GOP Headache
00:28:58 Mike Sommers, President and CEO of the American Petroleum Institute, on Hormuz Shipping Grinds to Near Halt After US, Iran Strikes
00:34:15 Mike Sommers on Idea of Suspending Federal Gas Tax
00:39:03 Political Panel Reacts: Platner Suspends Campaign, Democrats Path Narrows to Win Senate, Talarico’s $30M Haul Crushes Paxton in Texas Race
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Today Bloomberg Tech host Ed Ludlow details his conversation with SK Hynix CEO Kwak Noh-Jung as the South Korean memory chip maker makes its US debut. Then, Bloomberg White House and Washington correspondent discusses President Trump’s dismissal of two Democrat members of the US Election Assistance Commission and the latest from the MidEast. Plus, Bloomberg senior editor Nina Trentmann is joined by Lumen CFO Chris Stansbury on providing AI infrastructure. Finally, Bloomberg ‘Business of Sports’ Host Vanessa Perdomo-Maglione is joined by Gotham FC governor Carolyn Tisch-Blodgett on the NWSL club’s move to Queens and capitalizing on World Cup excitement.

Chapters
00:00:00 Bloomberg Businessweek Daily
00:00:01 SK Hynix’s Historic U.S. Stock Market Debut
00:04:20 Why SK Hynix Matters to the AI Boom
00:07:00 Will the Memory Chip Shortage Last Beyond 2030?
00:11:50 Trump Removes Election Commission Members
00:17:10 White House Update: Iran Talks Continue
00:21:20 Lumen’s AI Infrastructure Strategy
00:24:50 Building the ‘Nervous System’ for AI Networks
00:29:55 Market Update: SK Hynix Leads Chip Stocks
00:34:35 Gotham FC’s Historic Move to New York City
00:37:00 Growing Women’s Soccer Through the World Cup
00:42:45 Market Update: Tech Stocks Hold Weekly Gains
00:43:20 Stocks on the Move
00:43:45 SK Hynix Surges in U.S. Debut
00:44:45 Meta Gains on AI Optimism
00:46:15 Oracle Falls After Credit Rating Downgrade
00:47:25 Global Markets Beyond U.S. Tech
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