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At CES. Michael McDermott, EVP of Samsung, spoke with Bloomberg Media Studios about what the company calls its next AI chapter, your companion to AI living. It's a shift from AI as a feature to AI as a trusted partner in everyday life. Bloomberg Audio Studios Podcasts, radio news. Bloomberg Tech is live from coast to coast with Caroline Hyde, New York and Ed Ludlow in San Francisco. This is Bloomberg Tech. Coming up, Matter agrees to deploy millions of Nvidia processors over the next few years, reinforcing its ties with the AI chip giant. Plus, Meta's CEO Mark Zuckerberg is set to take the stand later today in a landmark social media addiction trial in Los Angeles. And we discussed some news in software and energy tech with the CEOs of Autodesk inherent later this hour. Welcome to Bloomberg Tech. The story right now in public markets when it comes to tech is we are rebounding a little bit. The NASDAQ 100 up more than a percentage point, largely that's on strong or positive economic data. But I put the Philadelphia Semiconductor Index in there or stocks because actually movements in chips and the Mag seven is the news driver, the catalyst in some of what's happening at the index level. That manifests in a deal between Matter and Nvidia for millions of Nvidia's processors over a number of years. But this is clearly a driver of markets, at least in Nvidia's case, up almost 3%. Matter had been lower, is now modestly higher. Let's get the details of Bloomberg's in King, who leads our coverage of semiconductors. So the reality is Matter is already the number two customer for Nvidia, but this is an agreement over time, millions of chips and we're not just talking Blackwell GPU, we're talking later generation Ruben and then the CPUs in each case. What, what are the kind of facts that we need to know? Yeah, and networking as well. I mean, the frustrating part about it is we don't have a definitive time period, but if we sort of back it out a million chips, their average selling price for Nvidia of one GPU for the data center is about 15, $16,000, probably as much as twice as that for a leading Edge one. So you're already talking as much as Matter spends on Nvidia Gear in a year in just the GPUs. Add on top of that, the networking add on top of that the CPUs. And obviously it feels like an extension, it feels like a bigger commitment to Nvidia. But they wouldn't say for sure. You had a discussion with one of Nvidia's leaders in the data center and infrastructure group and part of the discussion was this is the first big example of Nvidia selling the Grace CPU to market as a kind of standalone product. Simple question is like, what would you use a gray CPU for other than, you know, what's happening in AI? And that is why the number is probably tens of billions over that time period, right? Yeah, I mean it's definitely a step forward for them. It's definitely a market expansion for them. And you remember Jensen told us this a while ago, he dropped a strong hint that this was coming. And, and here it is. The, the key thing to look at is all this is Intel's territory. This is AMD's territory. The general purpose processor for a data center that, that does a lot of the general computing tasks. What Nvidia is saying, hey, we've got this CPU that was buried in the middle of all of this gear, but you can just use it on its own as well. That's a market extension for them. If we see widespread adoption, obviously Matter is a good adoption case. One of the other movers in the market this morning is amd, which was to the downside, I guess, not surprising. The biggest story is in video kind of keeps rolling on and dominating the spend of the hyperscalers. Plus Matter, which is not a hyperscaler, but that has the data center footprint of one. I was interested to go into the terminal and see like matter, about 9% of revenues for Nvidia, Microsoft's number one, you know, double that. But the big picture is there, right? In video it seems dominant. Yeah, I mean, you know, the background here is Microsoft Matter, Amazon, they're all making their own CPUs, they're all trying to make their own accelerators. Any commitment to either in video or indeed AMD for exactly those parts is obviously something that investors want to see and is a strong sign for the chip makers themselves. Bloomberg's in king on a story that again news driven catalyst for markets this morning. Investors are looking also to scoop up beaten down names after a stretch of of choppy AI driven volatility. Morgan Stanley says the recent sell off, especially in software and services, was largely indiscriminate with some companies hit harder despite strong fundamentals. Here to break down the impact across all sectors is Morgan Stanley global research director Katie who. But I mean it's such a detailed report that looks across stocks with a very wide lens. But in the here and now I want to go to that word indiscriminate. And just that paragraph of the report where you summarize the last few weeks, what do you think was happening? Right, right. So I think it's important on the back of the announcement that you just discussed to understand that we're in the very early innings of what is likely to be a $10 trillion capex investment cycle. That investment cycle is underwritten by a productivity story. As the technology diffuses into the market, there is real productivity acceleration, which is important because the last two decades we've been running at labor productivity that is half of normal levels because we knew this adoption story was going to be critical and it was going to touch all sectors of the market. We have now five times over mapped the 3600 stocks that, that we cover to understand rate of change, exp, exposure, materiality, pricing, power. And it's on the back of that data that yes, we've been able to identify where there are companies that have been sold indiscriminately. And there's a real opportunity. We see that in software and services, in research, we're a heavy adopter of AI technology. And the conversations we're having right now with large language models is how do we connect those models to the applications and data that we use every day to unlock the real potential. And so you can see that, you know, the list that we published last week, the thread across the software and services companies are where there is a data mode, whether that's credit or it's market data or it's systems of record in financials or customer data. This is the fifth time you've kind of done this exercise of mapping global stocks. Right. And you list margin expansion as the leading piece of evidence of roi. I'm thinking back to earlier in earnings season when we had names like Salesforce, ServiceNow and that, that part of the research report I flagged at the beginning. Fundamentals, you know, they didn't really get the benefit of the doubt from the market. They showed actually quite a lot of real world deployment of that technology. But something, you know, isn't quite believed by the, by the street. What is that? So what's really important in this data set is is tracking rate of change. So if you go back two years ago, the big rate of change in exposure materiality was energy and utilities. That sector outperformed the most in 2024. Last year it was financials. At the beginning of 2025, we highlighted as the biggest rate of change. Financials by many accounts, even outperformed parts of the technology sector last year. Right now the rate of, the rate of change is actually greatest in non tech categories, particularly in consumer and apparel and durable goods in, in, in autos. And so yes we, we see areas of software that have been sold indiscriminately where there is a data moat and there's an opportunity. But it's broader than just technology. What we see in the data is that the AI adopters are experiencing margin expansion. That's double the market indices, double the MSCI world index, double the S&P 500. And so we believe that there's a regime shift happening in the market away from a purely tack and specifically AI enabler leadership to now broadening of AI adoption and leadership not just in technology but, but across all sectors. Katie, tied to this, one of the big moments of last year was Morgan Stanley launching its private companies coverage. Going much deeper on private companies who are so active in this world. Right. Have you shifted existing analysts from public to private companies? Are you onboarding specific private analysts on specific domains? We just have 30 seconds. Right. So we believe that the domain experts that cover the public companies are typically and best positioned to also cover private sectors. But there are areas of thematics, think Humanoids and, and AI where we have shifted analysts from stock coverage to covering those thematics where there will be a lot of private company innovation. But most of the time that coverage comes from our existing public company domain experts. Katie who Betsy Morgan Stanley, it's great to have you on Bloomberg Tech. Thank you very much. Now coming up on the show, we're going to speak with Andrew and Agnost Autodesk President and CEO that conversations next. This is Bloomberg Tech. How do you shift AI from being a flashy feature to a trusted partner in consumers everyday lives on the ground at CES Bloomberg Media Studios asked Michael McDermott, EVP of Samsung. Our 2026 vision is built around an AI companion. It understands you and responds intuitively. This intelligence works quietly in the background across TVs, home appliances and mobile devices. By putting AI at the center of everything we do, we're simply improving everyday life for everyone everywhere. Autodesk is leaning into the AI powered physical world. The company announced a $200 million strategic investment in AI research firm World Labs, its largest startup investment today. Here to discuss Autodesk President and CEO Andrew and Agnos. Very interesting. Good morning to you. We've been looking at it. We've been looking into this idea a lot, you know, through the beginning of 2026, particularly in the context of industrial manufacturing, the future role of humanoid robots, how they come to learn the environment that they're in. People sometimes say digital twins. You have chosen what you believe to be the best player. Right. For the sort of AI and software underpinning of that to start. Why World Labs? Yeah, well, there's a couple of really important reasons. You know, first we kind of share a common ethos. We believe that I can enhance and expand human ingenuity, not replace it. And that's something that both World Labs and Autodesk share in common. But more importantly, you know, Fei, Fei LI AUTODESK Others believe that the next frontier are world models. That this is the ability to simulate, predict and react to real world constraints and virtual changes in real world constraints, virtual changes of design constraints within a virtual environment. That means you really have to partner with someone that's got deep expertise in spatial reasoning for AI. That's why we picked working with World Labs and they picked us because we have deep expertise and deep data knowledge of what happens in a design and make process. The technical challenge is to apply the physics of the real world into the virtual world, particularly when you're trying to, to simulate. I'm assuming that beyond the investment, there is a commercial arrangement here, right. Where you're able to, to do something with World Labs technology. How does that manifest? Yeah, so we're going to be working together with, using World, World World Labs technology with our tools. They're also going to get access to some of the proprietary models that we've built so that we can help them expand and create their ability to do deep spatial reasoning. So you'll see us initially lean into the media and entertainment space. But you know, as you said, this is much more expansive than that. At Autodesk we're really interested in the mid market manufacturing space and mid market factories, small and mid sized factories in particular. This is going to be a high growth area and these factories are going to need to be able to operate like the biggest factories in the world, but at a much smaller scale. And they need technology from us and technology from World Labs to do that. You put out the announcement about the $200 million part of the strategic investment. Actually, later in the morning, World Labs confirmed they did a $1 billion fundraise overall. So you're a big portion of it. What was the valuation that World Labs was assigned in that? You'd have to talk to World Labs about that. I'm not, I'm not going to discuss what they're, what their valuations were, but you can reach out to that team. The question is when does this become a real commercial opportunity for you? Then Andrew, you know, when is it you're going to be able to say in an earnings report this is something that resulted from that strategic investment. You know, it's important Ed, for us to recognize that in our space AI is already returning value. I know there's a lot of hype out there, especially with the infrastructure buildup and what's happened with large language models. But a lot of software companies, particularly Autodesk, have been investing in AI incrementally for a decade. So we're already delivering value today around the ability to simulate certain things like flooding, lighting, lighting studies, the ability to simulate air and wind and noise studies using AI, the ability to build preliminary models with AI that take into account structural constraints or the, or the need to remove structural constraints and helping people make better decisions in construction cycle. So AI is delivering value in our space today. And regardless of what happens out there in the world, we're going to continue to invest over the next 2, 3, 4, 5 years. So you'll see us continue to roll out incremental real value. So it's happening now. This is only going to allow us to accelerate deeper value into additional areas and into deeper parts of the design and make lifecycle. That's where I want to end it. You know, a lot of people ask what's the net result of all of this? We focus a lot on digital twins, virtual worlds. We discussed that is the result that, you know, big facilities, manufacturing sites, plant plants get built quicker, the people inside them get trained more quickly. Humanoid robots are deployed in the real world more quickly. Here's the big story in our space, Eddie. There is a massive capacity problem. There is not enough money, people and materials to build and rebuild everything in the world right now. Right now people are building lots of data centers, a lot of infrastructure that serves day to day people in their lives. Road, rail, all sorts of things doesn't get built while that's getting built. We need to execute more projects with, with the same amount of people in the same capacity we have today. And we need to do it at an accelerated rate. That's something that's very unique about the design and build world. This fundamental capacity problem is going to be an enable to unlock that. Andrew and Agnes Autodesky, I really appreciate your time on Bloomberg Tech. Thank you. In other earnings news, Palo Alto Network shares plunging. Having a difficult day after the cybersecurity company released a forecast for adjusted earnings that was weaker than anticipated. Though it also boosted its full year forecast for other key metrics including revenue and remaining performance obligations. CEO Nikesh Arora told us why he thinks the market is wrong about its reaction to the earnings this I think the market is not paying attention to our numbers carefully. We just completed our largest acquisition in Cyberark. We had a great quarter. Our numbers are across every known consensus metric. The market is not understanding that our guidance for the next two quarters includes CyberArk. If you take the consensus of Cyberark and ours, you're actually getting above the collective consensus. But the market hasn't understood the dilution of shares. So I think they have it wrong. Coming up, Apple fast tracks AI wearable devices. We have the Bloomberg reporting next. This is Bloomberg Tech. Jeff Bezos. Space startup Blue Origin has shifted resources from space tourism TO lunar project. CEO Dave Limps spoke with Bloomberg's AnnMarie Horden about the move while at the Defense Tech Summit where it's such a pivotal moment around where space is and there's never been more demand. You know, we have years worth of demand for our launch business, as does everybody that's launching. We're, we're very constrained as a country in terms of the number of launch vehicles that we have right now. And our adversaries around the world are not standing still. They have, they're putting hundreds of billions of dollars into launch and into space. And especially as it relates to the moon, which, you know, we haven't been in the moon for 50 years. We think it's really important for blue, for the country. And it just made prudent sense from our standpoint to take the brilliant people that were working on New shepherd, pause that for a while, we're planet for at least two years and then repurpose them to even further accelerate our efforts in lunar and launch. There was all this excitement, I think about New Shepard especially because Katy Perry went to space and for civilians who maybe want to have that moment like Marc Bezos had. So do you think you'll go back to that at some point? Is it really just a pause? I think we will. I think there's still, you know, we had multiple years of backlog and that was the easiest ticket to sell was that. And so I think we'll likely go back into that, into that business. But again at the moment in time, right now it just makes more sense to focus on, on, on the moon. So it really is a space race right now. I don't, you know, I'm very much pro America and a capitalist, but I don't think we want another Sputnik moment. And we were the first to put boots on the moon. And I really feel like we want to put, you know, we want to put boots on the moon. And this time the name of our group inside of Blue is Lunar Permanence. So we're not only racing to the moon to get there back again for the first time, but we want to keep people on the moon. Blue Origin CEO Dave Limp speaking with Bloomberg's AnnMarie Horden. In other news, it's time for talking tech. And first up, Warren Buffett spoke. Berkshire Hathaway cut its Amazon stake by 75% in the fourth quarter, reducing it to about 2.3 million shares, according to a regulatory filing. At the same time, it built a new position in the New York Times with 5.1 million shares and continued trimming, according to the 13F document. Its other holdings in bank of America and Apple plus Uber, and plans to invest more than $100 million to expand fast charging infrastructure for autonomous EVs in the U.S. the company will build high capacity charging hubs in San Francisco, Los Angeles and Dallas, the same market where it's preparing to roll out a public robotaxi service. And Apple is breaking away from its tech peers. Bloomberg data show the iPhone maker's 40 day correlation with the NASDAQ 100 has dropped to its lowest level since 2006 as it largely sits out the air arms rates. With rivals pouring money into AI Related capex some investors are starting to see Apple as an appealing alternative. Let's power on and stay with Apple. The company's fast tracking work on three new wearables as it races to compete with AI powered hardware. Sources say the tech giant is developing smart glasses, a pendant and AirPods with expanded AI capabilities. Bloomberg Consumer Tech and Apple managing editor Mark Gurman broke the story is with us, okay, three distinct products, three distinct categories. Let's go through what you've learned from sources. You know Apple, they are sitting out the race in a way, but they're going to enter in an Apple way. And that means hardware blended with AI blended with software blended with services. And they're going to get there if they're able to pull off this new series, which I believe they will before the end of the year. And so three hardware products. One is smart glasses. These are going to be quite significant. They're going to compete with the metal product. They're likely going to be a bit pricier. They're going to have dedicated cameras, one for media capture, one for computer vision in terms of Functionality, you'll get things like if you're taking a walk and you have turn by turn directions on, instead of it telling you make A right in 450ft, it might say make a right at the gray building because it sees your surroundings. Or make a right past the white car. AirPods with cameras, very similar AI functionality without the media capture functionality built into the earbuds that you know, people already know and love. And then the pendant, that's really an alternative product that is an accessory for the phone, your eyes and ears for the phone, for AI. In a sense, similar functionality to the glasses and the airpods. But not everyone wants to wear smart glasses. And so if Apple wants to provide that eyes and ears to the world, it's going to need some other product. And that's what the pendants for. People aren't going to have airpods in their ears at all times. People aren't going to want to put glasses on their face in all cases, especially have vision correction needs. So you need some sort of pen or necklace. So that's what they're developing as well. Just 15 seconds, Mark, literally. But do these come this year? When do they get released? I would expect the glasses and the pendant to be released next year and the AirPods as early as this year. The most. Mark Gurman, who leads all our consumer tech coverage, thank you very much. There's some interesting stuff going on in private markets and actually the team at Bloomberg News do a really good job at going into those markets, looking at the documents and finding out stuff that actually all markets want to know. Sally Bakewell leads our finance team. And in this case, the reporting is about what we know from sources from some of those private names in software who are coming to us a little bit earlier than normal and saying, here's what's under the hood, here's what we're learning. Just explain the reporting to us. Yeah, that's exactly right. So these are private firms. They are owned by private equity firms which obviously borrowed in order to buy them. So these are companies, software firms that have bonds and loans outstanding. Now, a lot of debt tied to software has sold off in recent weeks, particularly software as a service, because investors are very worried about the threat of disruption potentially supplanting some of those tasks. So we have seen billions of dollars of loans tied to US Software and US Tech slipping into distressed territory. Now, amid all of this concern, we have had a couple of private software firms actually opening their earnings books a little bit early to investors in a bid to calm nerves to say that our earnings and our revenue are trucking along just fine. So we had the likes of McAfee which showed that its fourth quarter revenue held steady at about 626 million compared to the year earlier. We had Rocket Software, which actually saw a 5% increase in 2025 revenue. And we had Perforce Software, which actually saw a slight decline, but it was just a slight decline. So the aim here is to say we're software firms but we are actually benefiting or we are handling or we are dealing with at the AI threat. Just, just before we start the conversation, the team in New York, indulge me. Really going to the treasury market. This is quite an interesting opportunity to go to corporate credit and some of the unsecured bonds tied to those case studies because there's some reaction, right? Like the companies tell them something, we don't normally do this, but how the bond market react, right? Well, I mean, a lot of this debt is actually senior secured, which means it is, it is backed by collateral. It is high in the repayment line. They would have to see really significant impairment to experience any losses, so. Or significant losses. So this is one of the arguments that the private credit industry is coming out with at the moment in defense of software saying, you know, our software loan books look good. In fact, Blue Al Capital said it wasn't seeing, let alone red flags, it wasn't even seeing yellow flags in its software loan portfolio. And we've heard the same sort of sentiment from a number of them and also saying that it's a bit too early to see any degradation in software right now. Bloomberg, Sally Bakewell, thank you very much. We've spent a lot of time on the impact of AI on specific stocks. What about the macro picture? San Francisco Fed President Mary Daly says monetary policymakers need to be open to signs pointing to how the new technology could be changing the US economy. Listen to this. In productivity numbers, especially when they're happening in what I would think of as real time, it's very challenging to assess or draw it back to exactly what the factors are that have shaped it. You know, in fact, people still don't agree on what happened in the 90s all the time, if you look at research. So it's just something to keep in mind. So then what you do, what any good economist or person, any industry person would do, is they'd say, well, what am I seeing? What am I seeing? And so right now, while we can't find it in the macro studies, that would do very sophisticated empirical econometrics and ask the questions how much of this is AI? We still can see that there's something going on there. The question isn't is it happening? The question is how long will it persist? And so clearly something's happening in the economy. But if you make a series, to go back to your question about productivity, if you make a series of one time adjustments, so say you automate a production line or you use AI to help in loan application process, you save money once, you don't save money forever. And I mean you keep saving that money but you don't get growth out of that. You don't get productivity growth. You get one time adjustments to the level of productivity of your employees or your process. So what we're looking for is a technology to give us consistently good changes in productivity so that all industries at scale get better industries, figure out new ways to generate revenue, new ways to do product design, new ideas to come and shape the economy. That's the thing that has a sustained productivity growth part. So it's undeniable productivity growth has gone up. What's not as clear is how long will that last? That was San Francisco Fed President Mary Daly. Abu Dhabi's MGX is pouring billions into its AI bets with no plans of slowing down. Since its launch in 2024, the fund has already invested in startups, chip makers and data centers with plans to raise an additional $30 billion for infrastructure. Although fears of potential a bubble rise, the fund and its investment chief remain unfazed. Here with the details, Bloomberg Senior Tech editor Mike Shepherd. We've been taking a very close look at the Gulf generally but, but MGX is an example and in part our reporting is based on a conversation with that investor investment chief. What do we need to know? Well, that's right, our colleagues Mark Bergen and Dinesh and I sat down and this was really the first of its kind Interview with their investment chief Ali Osman and their chief Strategy officer David Scott. And they got a look at the inner workings of this firm mgx whose name is really showing up more and more ed with all these AI related deals that we've been talking about. But let's go to anthropic. MGX was a co lead investor in the latest fundraise. The company has also invested and taken stakes in X AI and OpenAI. Really giving it in a way the triple crown of of AI investing. And there's more. They've also put money into the big Stargate AI data center venture here in the US and also taken a stake in the new TikTok that we spent so much time talking about. So MGX is really a player in so many of these different areas. One thing that struck me, Ed, during the interview and reading the big take on this was that David Scott likened their approach not to a private equity firm or a venture capital fund, but really to in video which you and I have seen from the conference here in Washington in October, just how much Nvidia has tried to take stakes in cloud computing and software companies that try to feed the ecosystem of artificial intelligence. And this is just a sign of how Abu Dhabi, whose sovereign wealth fund backs mgx, is really trying to diversify its economy away from just energy and try to seize on the wave. Now that's Abu Dhabi. The other news headline of the morning was Saudi Arabia's Humane disclosing the that it had participated in X a series round which predated the merger with Space X. What do we need to know there? Well, this is another key tie up between Humane, which got its start just last year. The Saudis unveiled Humane, which is backed by the public investment fund. Again we have state backed Gulf money going into this new venture. It was announced just as President Donald Trump arrived in the Middle east for a high profile visit, high stakes visit with Gulf leaders and they are now deepening this partnership. Already in November, Humane announced with X that it would develop a 500 megawatt data center in Saudi Arabia. And this just furthers that partnership. And as a result, as a result of this investment, of course they end up now with a stake in the much larger combined Space X, which now counts X AI as a subsidiary. And Human is also looking to deploy more of X technology, including the Grok chat bot across Saudi Arabia, giving Elon Musk access to a key market that it could see develop going forward. Of course, possibly more access to funding as his larger combined venture moves forward. The next Mike shepherd, thank you very much. Now coming up, Drew Baglino, CEO of Heron Power, joins us to talk about the energy startup's latest funding round. He may be a familiar face and a familiar name, of course, longtime Tesla executive now in a new domain. That's next. This is Bloomberg Tech. Heron Power, the energy startup founded by former Tesla executive Drew Baglino, has raised a $140 million Series B. The company makes advanced electrical equipment for delivering power faster and more efficiently to projects like data centers. Drew us with us now here in San Francisco. We have been tracking Heron since its earlier days. This is, you know, a quick Series B maybe in success succession to the fundraising. You did already. But importantly, you bring Andreessen in through the American Dynamism Fund, a new investor. Let's start with that. Why, why go there? First of all, thanks Ed, for having me again on the program. I'm super proud to represent Heron on this major milestone today. Yeah, well, we're, we're focused on building new technology and manufacturing in the United States. And that's really aligned with a 16 these thesis through their American Dynamism Fund. And we just found alignment on our future vision of how we can revolutionize the electricity sector in the US together. In the time that I've known you, but particularly since you've, you've been working on Heron, you know, you've been pretty transparent. You know, what you're trying to do is, is rethink a technology essentially and where it fits into modernizing grids, data center, the big energy capacity build out, which we'll get to. Is there something more than just the capital that the A16Z can help you with that? They're an amazing firm. They've got resources across recruiting, in finance, in policy. They're great thought partners for us along with our existing investor team as we set off on this ambitious adventure. So you're kind of in, still in R and D phase right now. Now maybe just explain what Heron is and what Heron does and then we can go from there. Sure. What, what Heron's trying to do is take really four decades of innovation in power semiconductors that have happened in parallel to like the Moore's Law improvement in transistors that are in compute and bring them to the core of the grid. Right now the grid is using largely mechanical devices that were invented like a century ago. And that is still what's underpinning everything in the power distribution sector. But at the same time, we've leveraged amazing improvements in power transistors, truly like orders of magnitude capability and cost reductions that have enabled all the innovation at the grid's edge. Compute, you know, consumer electronics, it, communications. We're bringing that to a sector that hasn't seen much change, which is the electricity sector itself. You have made some commercial progress, basically. You know, even if you're in R and D phase, one of the, the case studies we've talked about previously is with Crusoe, which. Right. Is. Is in the data center context. Yeah, but just in layman's terms, where would Heron fit in in the build out of a new data center? Absolutely. So what Heron is doing is really three things for a data center developer. First, we're offering Them like an alternative supply. Like right now they're waiting for equipment that's largely produced overseas, potentially two or three years. And yeah, we're building it at home. And we're building with completely different supply chain that's way more scalable. No more steel and oil, replacing it with silicon and software. Second, we're simplifying what they need to build out. You know, we're moving 70% of the gear on the way from the grid to the chip. That means less labor to find in the field, less time in the construction site schedule. And the third thing we're doing is reducing the losses from grid to chip by a factor of four, which means for the same power interconnection, which as we know can be difficult, you can produce that many more tokens very quickly. What is the go live date? You know, when is this going to be deployed commercially, do you think? Yeah, we're going to deploy ourselves this year with early customers, with revenue units in early 27 and then mass production in late 2027. Datacenter gets a lot of the focus. The other big story which I think you'll appreciate is what is happening with, with energy generation, energy storage. Right. Yeah. Elon Musk has this 100 gigawatt solar goal. Yeah. You ran that business on the energy side at Tesla for a long time. You understand the reality of that number. Please also feel, you know, to jump in where Heron would fit in with that. But what do you make of that goal? Oh, I think it's fantastic. I mean, globally we saw over half a terawatt, 500 gigawatts of solar installed last year. And that number isn't going to go down anytime soon. Really. The electricity sector is at a pivotal moment. You know, electricity has meant prosperity and growth for people all over the world for the past decades. But now it's at this juncture, right, we've got AI that needs way more power and electricity. Abundant renewable electricity can be a path to an all sustainable, all electric energy economy. And to do that, we need more renewable energy and we need more electricity. It is 100 gigawatts in the United States, like achievable. Oh, I mean, of course, you know, if you put your mind to something, no matter how difficult it is, you can accomplish it. I can say that from two decades of experience scaling new technologies from nothing to, you know, millions of units. Yeah, like, I think it's possible. And that would be an addressable market for heron. 100%. Yeah. We're going after solar, we're going after Batteries, data centers, really anywhere where you need to go from DC to medium voltage ac. That's what Heron link is for. Drew back. You know, CEO of Heron, formerly of course a Tesla. Great to have you back here on Bloomberg Tech Matter CEO Mark Zuckerberg is set to take the stand later today in a trial alleging his company's Products and Google's YouTube were designed, designed to addict young people. Claims that both companies deny social media platforms, including Matter, are actually facing thousands of similar cases. That's in addition to claims brought by various state attorneys general alleging that these products cause harm in some way to users. Let's discuss with Sasha Hayworth. She is the executive director of the Tech Oversight Project, an advocacy group that urges reducing the power of Big Tech. And like from the off, you're very much on the side of the, the alleged victims in this case. Right. I think that's, that's important to, to set out early. And there has been this criticism of big tech, but particularly the social media platforms for a long time. In the context of this trial today, where Mr. Zuckerberg will testify later in the day, what's different this time? Well, this is, as you alluded to earlier, big Tech's big tobacco moment. It's the moment that tech accountability organizations like mine, as well as countless parents who have been touched in some way by the harms that social media addiction have caused. Where we are going to see Mark Zuckerberg raise his right hand, take an oath before a judge and a jury of his peers and for the first time explain to a court of law why his company knowingly developed products that targeted children to get them hooked and then continued to feed them algorithmic content that did irretrievable harm. And what's different, because he's also told that to Congress. But he's going to have to explain why, despite telling us, the public as well as members of Congress that their products were safe for kids, why he systematically buried internal research and data showing there is a connection and showing they did know that their products were addictive and showing they did know that their products were harmful. So for many parents, this is the first step to hold Big Tech executives like Mark Zuckerberg accountable. And what you just said, Sasha, matters response to this particular lawsuit is we strongly disagree with these allegations that are confident the evidence will show our long standing commitment to supporting young people. Mark Zuckerberg is going to testify later today. Why is his testimony specifically significant and what is it that the Tech Oversight Project would hope he's asked about during that process well, the evidence has already shown that there have been many internal surveys, again conducted by Metta and in some cases partnering with external companies, survey firms such as Nielsen, to uncover whether there was a connection between social media overuse, social media addiction, or as the Instagram executives euphemistically referred to as problematic use and, you know, harmful behavior. And there was. After about a week of not using social media, users reported that they felt better about themselves. They didn't have this compulsive need to pick up their phone. Their mental health improved. Instead of alerting the public to this, this potential health threat, they buried the research and never let it see the light of day. Which is why, why Mark Zuckerberg can testify before Congress claiming that the research is inconclusive. Another study that Adam Mosseri, the CEO of Instagram, had to explain the other day when he testified was something called Project Mist, which surveyed over a thousand teens and parents, again showing that the parental controls, which big tech executives point to as one of the reasons why their products are safe for kids to use, essentially useless. I appreciate a summary of the events of the trial so far. My question is why significant that Mark Zuckerberg testifies later today and what is it that you hope he is asked in that process? Well, it's significant because this evidence has never before been seen and he is not going to be able to say, senator, I don't recall call. Let me let my office get back to your office about that and then walk away and never have to think about it again. This is a judge and jury. This is a court of law. The law comes for everyone. And if you have created a product that is unsafe for kids, that actually has been shown to kill kids and you've lied about it to the public and buried research when you could have been warning us to the dangers, you're going to be held accountable. So that's why it's significant. He's never before had to answer to that. As far as the outcomes, I really hope that we see lasting policy change because of this. These are individual harms cases and so the individual outcomes might differ. But I hope that the US Congress is compelled to act after these trials conclude. Sasha have executive director of the Tech Oversight Project, thank you very much. That does it for this edition of Bloomberg Tech. And what an addition it's been. There is a bit more calm in the market right now. There is a lot driving the markets in terms of new news flow and we got through a lot of that in the program. So recap it on the podcast you know where to find it. It's on the Bloomberg terminal as well as online on iHeart, Spotify and on Apple. This is Bloomberg Tech.