The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Morgan Stanley Investment Management Deputy CIO, Solutions & Multi-Asset Jitania Kandhari, McKinsey & Co. Senior Partner & Global Leader, Tech & AI Kate Smaje, Teva Pharmaceuticals President & CEO Richard Francis, BetMGM CEO Adam Greenblatt, Texas Capital Bancshares CEO, Chairman, & President Rob Holmes, BlackRock US Head of Equity ETFs Jay Jacobs, The Distributed AI Research Institute Founder & Executive Director Timnit Gebru, Cloudfare CEO & Co-Founder Matthew Prince, Institute for Advanced Study, Harold F. Linder Professor Alondra Nelson, Thornburg Head of Fixed Income Christian Hoffmann, Starmoire CEO & Co-Founder Katie Palencsar & Starmoire Stylist Stacy London, & Authentic Brands CEO Matt Maddox.

Chapters:
00:00:00 Bloomberg The Close
00:02:49 Morgan Stanley on Fed Hikes, Inflation & Markets
00:06:16 AI Investing, Global Equities & Portfolio Diversification
00:09:16 Anthropic’s AI Slowdown Call & the Search for ROI
00:10:01 McKinsey on AI Productivity, Workflows & Profitability
00:15:09 Responsible AI, Software Disruption & Enterprise Adoption
00:18:13 Teva CEO on U.S. Listing & Company Transformation
00:21:02 Teva’s Drug Pipeline & Long-Term Growth Strategy
00:22:28 BetMGM CEO on the NFL Season & Sports Betting
00:26:15 BetMGM on Prediction Markets, Regulation & the Supreme Court
00:29:37 Texas Capital CEO on Moving to the Texas Stock Exchange
00:33:25 Texas Capital’s Turnaround, Growth & Expansion
00:37:04 BlackRock on AI Demand, Data Centers & Investment Opportunities
00:40:28 Market Positioning, Diversification & Higher Rates
00:50:01 Timnit Gebru on AI Safety, Security & Existential Risk
00:53:03 AI Agents, Human Oversight & Cybersecurity
00:56:21 Cloudflare CEO on AI Bots & the Cybersecurity Boom
00:59:33 AI Vulnerabilities, Cyber Defense & Internet Security
01:02:04 Alondra Nelson on AI Regulation & U.S. Technology Policy
01:05:37 U.S.-China Cooperation & Global AI Safety Standards
01:06:34 Financing the AI Boom & Anthropic’s IPO
01:09:20 Fed Policy, Kevin Warsh & the Rate Outlook
01:10:47 Stacy London on Digital Closets & Wardrobe Management
01:14:18 AI, Resale Fashion & the Value of Your Closet
01:17:54 Building a New Fashion Resale & Storage Business
01:21:16 Authentic Brands CEO on the Creator Economy
01:24:10 Stephen Bartlett Partnership & Creator-Led Brand Building
01:27:28 Authentic Brands’ IPO Plans, M&A & Global Growth
01:31:25 What to Watch
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OpenAI shared several undisclosed incidents of its AI models misbehaving, further fueling public concerns about the speed of growth of AI. Bloomberg News AI Reporter Shirin Ghaffary explains what OpenAI and others are doing to try and ease those fears. Plus, markets saw a rebound Thursday after falling the day prior on the heels of the Federal Reserve hiking interest rates. Principal Asset Management’s Chief Global Strategist Seema Shah discusses what’s happening in the bon market. Then, Citi Head of Global Government Affairs Candi Wolff previews next week’s meeting between President Trump and China’s Xi Jinping. Finally, Bloomberg Intelligence US Homebuilding Analyst Drew Reading discusses the rising mortgage rates and the impact on homebuilder sentiment. All on the latest episode of “Bloomberg Businessweek Daily.”

OpenAI shared several undisclosed incidents of its AI models misbehaving, further fueling public concerns about the speed of growth of AI. Bloomberg News AI Reporter Shirin Ghaffary explains what OpenAI and others are doing to try and ease those fears. Plus, markets saw a rebound Thursday after falling the day prior on the heels of the Federal Reserve hiking interest rates. Principal Asset Management’s Chief Global Strategist Seema Shah discusses what’s happening in the bon market. Then, Citi Head of Global Government Affairs Candi Wolff previews next week’s meeting between President Trump and China’s Xi Jinping. Finally, Bloomberg Intelligence US Homebuilding Analyst Drew Reading discusses the rising mortgage rates and the impact on homebuilder sentiment. All on the latest episode of “Bloomberg Businessweek Daily.”

Chapters
00:00:00 Bloomberg Businessweek Daily
00:02:19 Markets Rally as Oil Prices Fall
00:04:14 OpenAI Discloses AI Misalignment Incidents
00:06:31 AI Safety, Regulation & Industry Oversight
00:10:03 Fed Rate Hike & the Market Outlook
00:11:26 What’s Next for Interest Rates?
00:12:50 Midterms, Data Centers & Market Volatility
00:15:13 Earnings Become the Next Market Catalyst
00:16:52 Treasury Yields & Higher Borrowing Costs
00:20:44 Russia Sanctions & New Tariff Authority
00:23:01 Trump-Xi Summit & U.S.-China Trade
00:24:22 U.S. Delays New Capacity Tariffs
00:27:12 Canada, the EU & the Trade War
00:28:23 Crypto Regulation After the Clarity Act
00:29:37 Iran War, Oil Prices & Affordability
00:34:30 Housing Market Struggles as Mortgage Rates Rise
00:36:18 Homebuilders Face Affordability & Inflation Pressures
00:40:01 Mortgage Rates Top 7%
00:43:04 Stock Movers: Generac & the AI Data Center Boom
00:45:25 CoreWeave Falls on New Fundraising
00:46:22 Tokenized Stocks Boost Securitize & Coinbase
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“The market became addicted to knowing what the Fed was going to do. What Kevin is doing right now, he’s trying to get the market off the addiction,” says IBM Vice Chairman Gary Cohn, as he discusses market reaction to Federal Reserve Chairman Kevin Warsh’s handling of the US central bank.

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Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today’s key themes for analysts and investors on “Bloomberg: The Opening Trade.” For up to the minute market intelligence and insight, click MLIV ＜GO＞.
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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Jess Menton, Carol Massar and Tim Stenovec.
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