TNB Tech Minute: Apple Signs Formula One Streaming Deal

Summary

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WSJ Tech News Briefing

Episode: TNB Tech Minute: Apple Signs Formula One Streaming Deal

Date: October 17, 2025

Host: Julie Chang, The Wall Street Journal

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Brief Overview

This Tech Minute episode serves as a concise news roundup for Friday, October 17th, focusing on three major topics: Apple’s significant new Formula One streaming deal, Goldman Sachs’ strategic push into AI infrastructure financing, and the ongoing Tesla-ISS debate over Elon Musk’s historic pay package. The episode is fast-paced, targeting listeners who want up-to-date highlights from the intersection of tech, finance, and entertainment.

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Key Discussion Points & Insights

1. Apple’s Formula One Streaming Deal

• Announcement: Starting next year, Formula One races will be available to stream in the US via Apple TV, thanks to a new five-year deal.
  • [00:30] Julie Chang: “Apple TV watchers will be able to stream Formula One races starting next year.”
• Financial Details: While official terms were not disclosed, The Wall Street Journal reported Apple’s bid was as high as $150 million annually.
  • [00:43] Julie Chang: “The Journal had reported that Apple bid as much as $150 million a year for the rights.”
• Broader Strategy: This move reflects Apple’s continued investment in live sports, building on its massive 2022 deal with Major League Soccer (MLS), worth at least $2.5 billion over ten years.
  • [00:52] Julie Chang: “The move broadens Apple’s live sports events offerings on a streaming platform.”

2. Goldman Sachs Targets AI Infrastructure

• Strategic Shift: Goldman Sachs is forming a dedicated team to focus on financing data centers and other infrastructure critical to AI development.
  • [01:08] Julie Chang: “The Wall Street giant is creating a team to focus on financing data centers and other AI infrastructure.”
• Organizational Placement: The new team will operate under the global banking and markets division, a new unit tasked with facilitating big financing projects.
• Profit Driver: Financing for AI infrastructure is becoming an increasingly important profit stream for Goldman.

3. Tesla-ISS Clash Over Musk’s Pay Package

• Controversial Vote: Institutional Shareholder Services (ISS) is advising Tesla shareholders to vote against Elon Musk’s $1 trillion compensation package.
  • [01:41] Julie Chang: “A proxy advisory firm is urging Tesla investors to vote against a $1 trillion pay package for CEO Elon Musk.”
• Concerns Cited: ISS is wary of the scale and structure of the deal, despite the performance conditions.
  • [01:44] Julie Chang: “Wrote that it’s concerned about the magnitude and design of the stock award.”
• Further Investment: ISS also recommends against Tesla investing in Musk’s AI startup, Xai.
  • [01:54] Julie Chang: “ISS also advised against Tesla making a potential investment in Musk’s Xai.”
• Board’s Position: Tesla’s board defends the compensation, arguing it is necessary to maintain Musk’s focus on the company; previous similar opposition from ISS has not swayed shareholder approval in the past.

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Notable Quotes & Memorable Moments

• On Apple’s bid for F1 rights:
  • “Apple bid as much as $150 million a year for the rights.” — Julie Chang, [00:43]
• On live sports streaming expansion:
  • “The move broadens Apple’s live sports events offerings on a streaming platform.” — Julie Chang, [00:52]
• On Goldman's strategic pivot:
  • “The Wall street giant is creating a team to focus on financing data centers and other AI infrastructure.” — Julie Chang, [01:08]
• On ISS’s warning regarding Musk’s compensation:
  • “Wrote that it’s concerned about the magnitude and design of the stock award, even though Musk only gets the payout if he creates enormous value for Tesla shareholders.” — Julie Chang, [01:44]

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Important Segment Timestamps

• Apple & F1 Streaming Deal:
  • [00:30]–[00:52]
• Goldman Sachs AI Infrastructure:
  • [01:03]–[01:26]
• Tesla & ISS on Musk’s Pay:
  • [01:38]–[02:07]

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Summary

In just a few minutes, this episode delivers essential updates on Apple’s game-changing move into motorsports broadcasting, Wall Street’s bet on AI infrastructure, and the continuing corporate governance drama at Tesla. Julie Chang efficiently distills each story, highlighting both the financial stakes and broader industry trends, with clear reporting and crisp attribution.

Listeners walk away with high-level context on why these moves matter for tech, business, and the future of streaming and AI.

Transcript

[Elastic Representative]

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[News Anchor]

Here'S your afternoon.

[Julie Chang]

TNB Tech Minute for Friday, October 17th. I'm Julie Chang for the Wall Street Journal.

[News Anchor]

Apple TV watchers will be able to.

[Julie Chang]

Stream Formula One races starting next year. The five year deal announced today makes.

[News Anchor]

F1's own streaming service available to subscribers.

[Julie Chang]

In the US through Apple TV.

[News Anchor]

Terms of the deal weren't disclosed, but.

[Julie Chang]

The Journal had reported that Apple bid as much as $150 million a year for the rights.

[News Anchor]

The move broadens Apple's live sports events.

[Julie Chang]

Offerings on a streaming platform. In 2022, it signed a 10 year broadcast deal with Major League Soccer worth at least two $2.5 billion Goldman Sachs.

[News Anchor]

Wants a bigger piece of the artificial intelligence boom, according to people familiar with the matter.

[Julie Chang]

The Wall street giant is creating a team to focus on financing data centers and other AI infrastructure. The team will sit within Goldman's global banking and markets division, which it created earlier this year to find or facilitate financing deals. The firm's profits are increasingly being driven by its growing presence in the world of financing, and a proxy advisory firm is urging Tesla investors to vote against a $1 trillion pay package for CEO Elon Musk.

[News Anchor]

In a report today, Institutional Shareholder Services.

[Julie Chang]

Wrote that it's concerned about the magnitude.

[News Anchor]

And design of the stock award, even.

[Julie Chang]

Though Musk only gets the payout if he creates enormous value for Tesla shareholders.

[News Anchor]

ISS also advised against Tesla making a.

[Julie Chang]

Potential investment in Musk's Xai. Tesla's board said the pay package was designed to keep Musk's attention on the EV maker. Tesla investors have previously approved Musk's pay packages, despite similar opposition from iss.

[News Anchor]

And that's it for your TNV Tech minutes.

[Julie Chang]

Tune in Monday morning for another quick tech update.

[Elastic Representative]

Why do over 50% of the Fortune 500 use elastic? Because of Search AI? Search AI is WatsonNex chatting one on one with your business? It's also LGCNS turning real time context into real smart cities. Find out what Elastic can do for your business at Elastic Co searchai.