# Daybreak Weekend: Nvidia Earnings, UK Special Election, Modi Israel Visit

An episode of [Bloomberg Daybreak: Asia Edition](https://invisiblenetwork.ai/podcast/1663863437), 20 Feb 2026, 39 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/d15648c4-cee0-4e99-a5ca-af80014d921d/b18b30fd-efa0-4e91-8924-b3f7014936c9/audio.mp3?utm_source=Podcast&in_playlist=27143354-63aa-4ac5-965d-af80014dc0d3

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. • In the US – a look ahead to earnings from chipmaker Nvidia along with a focus on 3 stocks for the week ahead. • In the UK – a look ahead to a special election in the UK. • In Asia – a look ahead to India Prime Minister Narendra Modi’s two-day visit to Israel. See omnystudio.com/listener for privacy information.

## Transcript

[0:00] Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.
[0:10] Speaker 2: This is Bloomberg Daybreak Weekend, our global look at the
[0:13] Speaker 2: top stories in the coming week from our Daybreak anchors
[0:16] Speaker 2: all around the world. Straight Ahead on the program, we
[0:18] Speaker 2: look ahead to the Last of the mag seven earnings
[0:21] Speaker 2: with Chip Giant and video reporting. I'm Nathan Hager in Washington.
[0:25] Speaker 3: I'm callin Heppoon, London, where we're delving into the special
[0:28] Speaker 3: election that could redefine the UK's political future.
[0:32] Speaker 4: I'm Doug Prisner, looking ahead to Indian Prime Minister in
[0:34] Speaker 4: Narungramodi's visit to Israel in the coming week.
[0:38] Speaker 1: That's all straight ahead on Bloomberg Daybreak Weekend on Bloomberg
[0:42] Speaker 1: eleven three zero, New York, Bloomberg ninety nine to one, Washington, DC,
[0:46] Speaker 1: Bloomberg ninety two to nine, Boston, DAB Digital Radio, London,
[0:51] Speaker 1: Syria XM one twenty one, and around the world on
[0:54] Speaker 1: Bloomberg Radio, dot Com and the Bloomberg Business App.
[1:02] Speaker 2: Good day to you. I'm Nathan Hager. We begin today's
[1:05] Speaker 2: program with earnings from AI Chip Giant Invidia, the last
[1:09] Speaker 2: of the Magnificent Seven, reports its end of year results
[1:11] Speaker 2: after the close of training on Wednesday, for more. We're
[1:15] Speaker 2: joined by Kun John Sabhani, senior semiconductor analyst for Bloomberg Intelligence.
[1:19] Speaker 2: Great to have you with us on the program, Kun John.
[1:22] Speaker 2: Of course, in Vidia has been at the center of
[1:25] Speaker 2: the AI spending story for so long, so where do
[1:28] Speaker 2: you see the bar when it comes to Invidia's results
[1:31] Speaker 2: this time around?
[1:33] Speaker 5: As usual, the expectations will run high. You know, folks
[1:36] Speaker 5: are expecting the usual or if not better than the
[1:40] Speaker 5: mid single digit beaten race that we have gotten used
[1:44] Speaker 5: to with them, which I think is quite possible given
[1:48] Speaker 5: multiple drivers that have gotten better since their last quarterly earnings.
[1:53] Speaker 5: You know, we have heard from the largest customers of Nvidia,
[1:57] Speaker 5: and most of them have increased their CAPEX projection significantly,
[2:01] Speaker 5: some of them forty to fifty percent in case of
[2:04] Speaker 5: Google and Amazon for twenty twenty six, so that really helps.
[2:07] Speaker 5: We have heard of deals being made since last quarter
[2:10] Speaker 5: with these hyperscalers and other customers adopting millions of units
[2:15] Speaker 5: of in Nvidia, which should drive further upside to that
[2:19] Speaker 5: five hundred billion number that Jensen had provided end of
[2:26] Speaker 5: last year regarding the Blackwell and Rubin backlog through twenty
[2:30] Speaker 5: twenty six. So estimates are running higher than that, and
[2:34] Speaker 5: we expect them to give indications that it is going
[2:38] Speaker 5: to run higher than that. And finally, the third key
[2:42] Speaker 5: point will be visibility on resuming the H too or
[2:47] Speaker 5: I should say starting the H two hundred shipments to
[2:50] Speaker 5: China because that continues. Will be a key upside driver
[2:54] Speaker 5: if that happens soon. And we did see AMD start
[2:58] Speaker 5: to ship some of its prior to generation chipmates to
[3:01] Speaker 5: China in this quarter when there is a reported results.
[3:04] Speaker 2: Let's take some of those points in turn. John, you
[3:07] Speaker 2: mentioned the millions of units deployed. I think that was
[3:10] Speaker 2: an allusion to the announcement we heard just a few
[3:13] Speaker 2: days ago from Meta Platforms. Does that sort of raise
[3:16] Speaker 2: the bar when it comes to the outlook that we're
[3:18] Speaker 2: expecting to hear from Jensen in the call this week.
[3:22] Speaker 5: It does raise the bar for the full year. I
[3:25] Speaker 5: don't know if it raises the bar for the next quarter.
[3:28] Speaker 5: Outlook that deal with Meta, you know, it's a long
[3:32] Speaker 5: term deal and the lead times will be longer than
[3:35] Speaker 5: to get the revenue in this quarter, so does raise
[3:38] Speaker 5: the bar for the full earth.
[3:39] Speaker 2: And when it comes to the pipeline for future chips,
[3:44] Speaker 2: we heard Jensen talk about the Ruben semiconductor being on
[3:48] Speaker 2: track for the second half of this year at the
[3:52] Speaker 2: recent conference that Nvidia held. Are we expecting any more
[3:56] Speaker 2: clarity when it comes to some of those next generation
[3:59] Speaker 2: chips video.
[4:02] Speaker 5: I'm sure we will hear some commentary that evaluations are
[4:06] Speaker 5: going well, etc. Remember, this was a very unique time.
[4:10] Speaker 5: Usually at CES, Nvidia in the past has not talked
[4:14] Speaker 5: about their next generation products, which are released at the
[4:18] Speaker 5: end of the year. Usually they saved that for the GtC,
[4:21] Speaker 5: which will be their marquee event happening in March. Them
[4:24] Speaker 5: talking about this this early in the year gives gave
[4:28] Speaker 5: investors confidence that there would be sort of no hiccups
[4:31] Speaker 5: with the Rubin ramp as they're aware with Blackwells, So
[4:34] Speaker 5: that's a good news. We'll definitely hear some update, but
[4:37] Speaker 5: I think most of the big news will be saved
[4:41] Speaker 5: for him to talk about at GtC next month.
[4:43] Speaker 2: And when it comes to the re entry of the
[4:45] Speaker 2: H two hundred ship that you mentioned in China, we've
[4:48] Speaker 2: heard jenst in the past talk about, you know, even
[4:51] Speaker 2: keeping China revenue off the table, they're still going to
[4:54] Speaker 2: put out pretty significant numbers. How important is it though,
[4:57] Speaker 2: for Nvidia to get back into the Chinese market to
[5:00] Speaker 2: keep its momentum going.
[5:03] Speaker 5: I think it is definitely important. Look, most of the
[5:07] Speaker 5: other areas they are dominating, so investors are very aware.
[5:10] Speaker 5: So this is a market which if it does open
[5:13] Speaker 5: up significantly for them, they can go and grab another
[5:16] Speaker 5: significant share, a dominant share. Before the shipment sanctions had
[5:20] Speaker 5: come in and Vidia was a dominant share of that market,
[5:23] Speaker 5: So definitely very important. Could easily, you know, if the
[5:26] Speaker 5: gates get open, you can easily think about adding somewhere
[5:29] Speaker 5: between seven to twelve thirteen billion dollars back, which is
[5:34] Speaker 5: a substantial amount. Yes, we'll not move. I mean if
[5:38] Speaker 5: the company is going to about to be making one
[5:40] Speaker 5: hundred and fifty two hundred billion dollars, you can argue
[5:43] Speaker 5: five to twelve billion is small, but still a significant upside.
[5:48] Speaker 2: Of course, there's been so much discussion within the market
[5:50] Speaker 2: about you know, whether there's too much spending in AI,
[5:53] Speaker 2: whether it's circular spending, and even this AI disruption trade.
[5:57] Speaker 2: How do you expect in Nvidia's results to color some
[6:00] Speaker 2: of that debate on Wall Street?
[6:04] Speaker 5: I don't think. I mean, if anything, a better results
[6:08] Speaker 5: from in media could keep these arguments going forward. I
[6:12] Speaker 5: don't think better results will will help with diminishing these arguments.
[6:17] Speaker 5: In fact, a week result could slow down this argument,
[6:20] Speaker 5: giving people the more validity that these concents are real.
[6:25] Speaker 5: We don't think these concents are real at this point,
[6:27] Speaker 5: and as long as Nvidia keeps doing better and better,
[6:30] Speaker 5: I don't think these arguments will go away anywhere.
[6:33] Speaker 2: Appreciate this, Kun John. Ahead of those earnings from Nvidia,
[6:36] Speaker 2: much appreciated, that is, Kun John Sabhani, Bloomberg Intelligence Senior
[6:40] Speaker 2: Semiconductor Analyst. Let's take a look now at some stocks
[6:43] Speaker 2: making news in the week ahead. I'm Nathan Hager, joined
[6:46] Speaker 2: by Bloomberg Markets Live Managing Editor Christine Akino. I thought
[6:50] Speaker 2: we were almost done with earnings, Christine, but it looks
[6:52] Speaker 2: like we got some pretty big names reporting this week,
[6:55] Speaker 2: including Home Depot. On Tuesday was the holiday quarter, a
[6:59] Speaker 2: time people were thinking about home improvement.
[7:02] Speaker 6: Oh well, Nathan, I think from what we've heard from
[7:04] Speaker 6: Home Depot, things are not looking great. They have implemented
[7:08] Speaker 6: a lot of cost custing cutting measures over the last
[7:12] Speaker 6: couple of months. So this month, for example, the company
[7:14] Speaker 6: said it's making the requirements for bonus payouts to managers
[7:17] Speaker 6: more strict if they're telling eligible employees that they now
[7:21] Speaker 6: have a higher threshold for sales performance metrics to be
[7:24] Speaker 6: able to receive this bonus. And then in January they
[7:27] Speaker 6: also said that they're going to be cutting jobs across
[7:29] Speaker 6: several teams and also requiring corporate staff to return to
[7:34] Speaker 6: the office, and so it really seems like home Depot
[7:37] Speaker 6: is really bracing for a challenging quarter that's probably going
[7:40] Speaker 6: to be reflected in the earnings results that we're going
[7:43] Speaker 6: to be seeing. And so it's just a question of whether,
[7:46] Speaker 6: you know, once investors see them, are they going to
[7:49] Speaker 6: see enough of a silver aligning in those results? You know,
[7:51] Speaker 6: whether it's the cost cutting measures that Home Deep implemented
[7:55] Speaker 6: or anything else that they're doing that would give them
[7:57] Speaker 6: a steadier footing moving forward. That's probably going to be
[8:00] Speaker 6: what's in focus for investors next week.
[8:02] Speaker 2: It is interesting though, I mean, we're still off the
[8:05] Speaker 2: high from September for home Depot, but the stock has
[8:08] Speaker 2: been kind of on a bit of a bounce here
[8:10] Speaker 2: over the last couple of months. So does that mean
[8:11] Speaker 2: the bar is kind of higher for home Depot when
[8:13] Speaker 2: it comes to the earnings.
[8:14] Speaker 6: Yeah, I suppose you could say that just because you know,
[8:18] Speaker 6: it has weathered a lot of storms over the last
[8:22] Speaker 6: few months. They have been warning for quite some time
[8:25] Speaker 6: now about slow down in housing, which is very much
[8:28] Speaker 6: affecting their bottom line. But at the same time, we
[8:31] Speaker 6: have seen, as you mentioned, a resilience in the shares,
[8:34] Speaker 6: and so perhaps there is some of that optimism baked
[8:38] Speaker 6: in already that the company will be able to keep afloat.
[8:42] Speaker 6: It's it's you know, it's it's earnings outlook, it's revenue outlook,
[8:46] Speaker 6: and so you know, if there is some disappointment there,
[8:50] Speaker 6: we'll probably see that in the aftermath of the reaction
[8:54] Speaker 6: to the earnings.
[8:54] Speaker 2: Coming Moving from Home Depot, another stock that starts with
[8:58] Speaker 2: H reports on Tuesday.
[9:00] Speaker 5: HP.
[9:01] Speaker 2: Where are they when it comes to the AI tech story?
[9:05] Speaker 6: Yeah, I mean very interesting when it comes to HP.
[9:08] Speaker 6: Of course, it did get a bit of a boost
[9:10] Speaker 6: when it comes to the AI story, right. It was
[9:13] Speaker 6: very much involved in that trade back in the latter
[9:18] Speaker 6: part of twenty twenty five when it was all about
[9:21] Speaker 6: the expansion of the AI trade to the various companies
[9:25] Speaker 6: involved in implementing the data center build out, and HP
[9:30] Speaker 6: is a part of that supply chain. But you know,
[9:32] Speaker 6: our Analyti Bloomber intelligence really focusing in on margins for
[9:37] Speaker 6: HP here. They are big in the PC space, a
[9:40] Speaker 6: lot of pressure there when it comes to margins, and
[9:44] Speaker 6: and so that's a big question whether they're going to
[9:46] Speaker 6: be able to.
[9:47] Speaker 5: Keep that up.
[9:48] Speaker 6: Also question about you know, their their memory supply. Is
[9:53] Speaker 6: that supply chain again going to be resilient and moving forward,
[9:58] Speaker 6: And you know, it's a big Q question whether they're
[10:01] Speaker 6: going to be able to maintain pricing power given that
[10:05] Speaker 6: the environment at the moment for anything air related is
[10:07] Speaker 6: a little bit more challenging as we've seen in recent
[10:09] Speaker 6: price action.
[10:10] Speaker 2: Is that what we're seeing and reflected in terms of
[10:13] Speaker 2: the kind of steady decline that we've been seeing in
[10:16] Speaker 2: hpiece chart over the last few months.
[10:18] Speaker 6: Yeah, absolutely, Nathan, I mean, I think it is one
[10:21] Speaker 6: of these socks very interesting. You know, it's just kind
[10:23] Speaker 6: of right in the middle of kind of institutional air demand,
[10:28] Speaker 6: right given that it is part of the buildout story.
[10:31] Speaker 6: But then at the same time, a lot of fluctuations
[10:34] Speaker 6: due to its spot when it comes to the consumer space, right,
[10:39] Speaker 6: Like it's PC offering still very much subject to the
[10:42] Speaker 6: whims of the consumer, and as we've been hearing from
[10:45] Speaker 6: a lot of other companies, that is quite a challenge environment.
[10:48] Speaker 6: It's not that consumers are fully scaling back on their purchases,
[10:53] Speaker 6: they're just being more strategic about it. And that may
[10:56] Speaker 6: be where HP's vulnerabilities really maybe.
[11:00] Speaker 2: And on Thursday we hear from one of HP's competitors.
[11:04] Speaker 2: Is it going to be a similar story when it
[11:05] Speaker 2: comes to Dell Computer?
[11:07] Speaker 6: Yeah? I mean for Dell, it really has been a
[11:09] Speaker 6: rough start to twenty twenty six. Right, We've seen their
[11:11] Speaker 6: shares down more than seven percent. They very much did
[11:15] Speaker 6: get wrapped up in the early twenty twenty six declines
[11:19] Speaker 6: for US equities in general, given all these fears about
[11:23] Speaker 6: AI disruption, and you know, for Bloomer Intelligence, their outlook
[11:27] Speaker 6: really focusing in on the AI server demand that Dell
[11:32] Speaker 6: is enjoying, and so that is a positive for them
[11:35] Speaker 6: and as allow them to have a more broad consumer base.
[11:39] Speaker 6: And you know, our analysts are very much optimistic in
[11:43] Speaker 6: terms of their ability to sustain that momentum through twenty thirty.
[11:48] Speaker 6: So high expectations potentially for this earnings result possibly a
[11:53] Speaker 6: high potential for disappointment as well.
[11:55] Speaker 2: Okay, Well, another busy earnings week on tap. Thanks for this, Christine,
[11:59] Speaker 2: good having your Christina Keino, Managing editor for Bloomberg Markets Live.
[12:04] Speaker 2: Coming up on Bloomberg day Break weekend, we'll look at
[12:06] Speaker 2: the special election that could redefine the UK's political future.
[12:11] Speaker 2: I'm Nathan Hager, and this is Bloomberg. This is Bloomberg
[12:26] Speaker 2: day Break Weekend, our global look ahead at the top
[12:28] Speaker 2: stories for investors in the coming week. I'm Nathan Hager
[12:31] Speaker 2: in Washington. Up later in our program we'll look ahead
[12:34] Speaker 2: to Indian Prime Minister Narendra Modi's visit to Israel. But
[12:38] Speaker 2: first in the coming days, a special election in the
[12:40] Speaker 2: UK could highlight the fractured state of British politics. Bookmakers
[12:44] Speaker 2: are predicting a three horse race between Labor and the
[12:47] Speaker 2: insurgents on the right hand left. Gambling odds compiled by
[12:50] Speaker 2: odds Checker suggests the Green Party will edge out Reform,
[12:53] Speaker 2: with the incumbent Labor Party third. For more, let's go
[12:57] Speaker 2: to London and bring in Bloomberg Daybreak Europe banker Caroline Nathan.
[13:01] Speaker 3: In an unassuming and often neglected Manchester suburb, a three
[13:05] Speaker 3: way fight is hotting up between challenger parties Reform UK
[13:10] Speaker 3: and the Green Party, who are vying to pry the
[13:13] Speaker 3: area's parliamentary seat away from the incumbent governing Labor Party,
[13:18] Speaker 3: with a special by election looming in Gordon and Denton
[13:21] Speaker 3: on the twenty sixth of February. The battle is highlighting
[13:24] Speaker 3: the sinking popularity of Prime Minister Kirs Stamer's Labor administration
[13:28] Speaker 3: and the rising fortunes of populist competitors on both the
[13:32] Speaker 3: right and the left. It's an uncertain situation that could
[13:36] Speaker 3: have implications for the UK's politics and economic prospects. Three
[13:41] Speaker 3: Gutchukovin Dan is senior research economists at UK Asset Manager Aberdeen.
[13:47] Speaker 3: She says the instability could prove costly what we're seeing.
[13:50] Speaker 7: I mean, it's been a good week for bomb markets
[13:53] Speaker 7: in the UK and elsewhere, but there is a lot
[13:57] Speaker 7: of premium already in the guilt market.
[14:00] Speaker 3: But I've say a lot of rates investors are cautious.
[14:03] Speaker 7: And I think these key events like the by election
[14:07] Speaker 7: in ten days time, the local elections in May, there
[14:11] Speaker 7: is the acceptance that there could there is likely to
[14:14] Speaker 7: be a leadership change later this year. So obviously we
[14:18] Speaker 7: had a bit of a flash point. Two weeks ago
[14:19] Speaker 7: and Kilts really sold off quite aggressively and that is
[14:22] Speaker 7: an issue for the government. High interest rates are an
[14:24] Speaker 7: issue for the government, so whoever leads the UK later
[14:28] Speaker 7: this year will have to keep that in mind.
[14:31] Speaker 3: So perhaps a challenge to the Prime Minister Kirs Starmer
[14:34] Speaker 3: Sui Kutchu Govin Dan seeing a research economist at UK
[14:37] Speaker 3: Asset Manager Aberdeen speak to me and Stephen Cowell on
[14:40] Speaker 3: Bloomberg Radio. So will the coming local contest between the
[14:45] Speaker 3: government and all its challengers leave Starmer vulnerable or vindicated?
[14:51] Speaker 3: Joining me now to discuss is our Bloomberg UK Economy
[14:54] Speaker 3: reporter Arena and Angel and our UK Politics reporter Lucy
[14:59] Speaker 3: White come to both of you. Thank you for being
[15:01] Speaker 3: with us. Lucy. Should we start with a bit of
[15:04] Speaker 3: the politics. Set the scene. Why is this by election
[15:08] Speaker 3: so crucial for Keir Starmer?
[15:10] Speaker 8: So there's not very often in between general elections that
[15:13] Speaker 8: we get a sort of national vote like this, because
[15:16] Speaker 8: this isn't you know, your kind of usual local politics
[15:19] Speaker 8: kind of election. This is a by election for a
[15:22] Speaker 8: seat in Westminster. So it's the first real test that
[15:26] Speaker 8: we're going to have for an area where they are
[15:28] Speaker 8: electing a new person to Westminster, and this is all
[15:31] Speaker 8: because Andrew gyn has resigned on health grounds, but he
[15:35] Speaker 8: was also caught up in a bit of a scandal.
[15:37] Speaker 8: He's the labor incumbents at the moment around leaked WhatsApp messages,
[15:41] Speaker 8: and this is going to be the first real test
[15:44] Speaker 8: we have of who these people in Gorson and Denton
[15:48] Speaker 8: want as their representative. And as you were saying just then,
[15:52] Speaker 8: you know, there's a real flashpoint at the moment as
[15:55] Speaker 8: to Obviously there's some kind of idiosyncratic reasons why people
[15:58] Speaker 8: are not a fan of laboring in that area, but
[16:01] Speaker 8: there's also this kind of real challenge, real tussle going
[16:04] Speaker 8: on between Reform and the Greens at the moment. And
[16:06] Speaker 8: if this goes badly in for labor in Manchester or
[16:09] Speaker 8: in this particular suburb of Manchester where labor have really
[16:13] Speaker 8: had a sort of strongholder for several years, the implications
[16:17] Speaker 8: for this nationally are are pretty stark.
[16:20] Speaker 3: We really have polling at the moment, but how much
[16:23] Speaker 3: ground might labor have lost in this region. Who are
[16:26] Speaker 3: the front runners, So it's.
[16:28] Speaker 8: Really a three way tie at the moment. We've got
[16:31] Speaker 8: Labor as the incumbents, and then we've got the Green
[16:34] Speaker 8: Party who are really hoping to make gains on the
[16:36] Speaker 8: sort of populist left of politics, and Reform who are
[16:41] Speaker 8: at the polar opposite end of that sort of making
[16:44] Speaker 8: looking to make headway on the populist right. And they're
[16:48] Speaker 8: you know, kind of involved in this three way battle.
[16:51] Speaker 8: It's hard to tell who is doing particularly well at
[16:54] Speaker 8: the moment because there's no sort of you know, kind
[16:56] Speaker 8: of there is. There is polling at a local level,
[16:59] Speaker 8: but none of it, you know, kind of particularly reliable.
[17:01] Speaker 8: The sample sizes just aren't as big. From myself and
[17:05] Speaker 8: Arena when we were on the ground last week in
[17:07] Speaker 8: the area, there's a huge amount of visibility for the
[17:10] Speaker 8: Green Party. This post is everywhere, there's a lot of
[17:13] Speaker 8: campaigners on the ground. For Reform, there's very little visibility,
[17:18] Speaker 8: but you know, kind of local polling does seem to
[17:21] Speaker 8: see them doing quite well. As for Labor, you know,
[17:24] Speaker 8: there's a lot of people who are kind of well,
[17:26] Speaker 8: I've I've voted labors all my life, so I probably will.
[17:30] Speaker 8: But there's an equal number i'd say that we spoke
[17:32] Speaker 8: to of people that we spoke to there who say
[17:35] Speaker 8: whether it's due to the Andrew growing what's up scandal
[17:37] Speaker 8: or whether it's due to Kirstarma just saying I will
[17:40] Speaker 8: never vote labor again in my life.
[17:42] Speaker 3: Arena take us through the economics, then we know that
[17:45] Speaker 3: for a long time, UK wages and incomes really haven't
[17:51] Speaker 3: risen very much. The economy isn't growing very quickly. How
[17:56] Speaker 3: has that manifested in Manchester and how do resident and
[18:00] Speaker 3: there I feel about it?
[18:02] Speaker 9: When Lucy and I went up there, I would say
[18:04] Speaker 9: that the top issue that came up in Gordon and
[18:06] Speaker 9: Denton was at the rising cost of living and you
[18:09] Speaker 9: know you have that, you also have the rise in
[18:12] Speaker 9: the cost of doing business.
[18:14] Speaker 10: There's also you know, other issues related.
[18:16] Speaker 9: To flight tipping, decaying states, drug dealing, and you know,
[18:19] Speaker 9: underneath this you could sense that there is one big issue,
[18:22] Speaker 9: and that issue is that the community is decaying.
[18:25] Speaker 10: But things didn't used to be like this, you know.
[18:27] Speaker 9: So the people of Gordon and Dent and they seem
[18:30] Speaker 9: to be people who take pride and where they come
[18:32] Speaker 9: from and pride and who they are, and there's a
[18:34] Speaker 9: sense that that's now been taken away from them. And
[18:37] Speaker 9: who do they blame for this? They blame the government
[18:40] Speaker 9: and you know labor came in with big promises. There
[18:42] Speaker 9: was real hope that things will change quickly, but they
[18:44] Speaker 9: haven't for you know, many reasons. You know, perhaps some
[18:48] Speaker 9: of the are default of policy. Others are you know,
[18:49] Speaker 9: are just the result of like structural factors which you
[18:53] Speaker 9: know could never be turned around very quickly. And you know,
[18:57] Speaker 9: and the local people also blame their previous MP and Gwynn.
[19:01] Speaker 9: You know, some told us they wrote to him to
[19:03] Speaker 9: complain but they never heard back. So they feel like
[19:05] Speaker 9: things are not getting better and also that they're getting neglected.
[19:09] Speaker 3: I think that's really interesting. So then what do we
[19:11] Speaker 3: know about the economic profile of those who perhaps are
[19:16] Speaker 3: likely to support the challenge of parties, parties like Reform
[19:20] Speaker 3: and the Greens. If you say that, underneath it there's
[19:23] Speaker 3: what sounds like quite a lot of anger, maybe some hopelessness.
[19:28] Speaker 9: Exactly, and Reforming Green voters are actually very similar in a.
[19:33] Speaker 10: Key way they feel.
[19:35] Speaker 9: And this is at the national level, not just in
[19:38] Speaker 9: Gordon and Denton. But it was really interesting to see
[19:40] Speaker 9: it sort of play out there. But these people feel
[19:43] Speaker 9: somehow cheated on by the sort of by the political
[19:46] Speaker 9: economy of the country.
[19:47] Speaker 10: So look thrill from more in common put this very well.
[19:51] Speaker 9: You know he told me that, you know, you ask
[19:53] Speaker 9: people is the system working? And the answer tends to
[19:56] Speaker 9: be no, Then you ask them, okay, can we change
[19:59] Speaker 9: the system them from within to make it work or
[20:02] Speaker 9: do we just burn it all down? And the burn
[20:04] Speaker 9: it all down theres These are the people who either
[20:06] Speaker 9: go to reform or the.
[20:07] Speaker 10: Greens, you know which one. It depends on who they blame.
[20:10] Speaker 9: For the Greens, that tends to be capitalism and big
[20:13] Speaker 9: corporates capturing the economic gains from themselves and leaving everyone
[20:16] Speaker 9: else worse off.
[20:18] Speaker 10: So you have, you know, young university.
[20:19] Speaker 9: Educated people who are a big demographic for them, and
[20:25] Speaker 9: for reform, it's really blaming immigration and migrants putting a
[20:29] Speaker 9: strain on public services.
[20:31] Speaker 3: I'm sure that Labor are putting up a good fight
[20:33] Speaker 3: and trying to make their case for why perhaps they
[20:37] Speaker 3: need more time or the progress that they've made so far,
[20:40] Speaker 3: Lucy in terms of kissed Arma, how much damage could
[20:44] Speaker 3: it do potentially if Labor were to fail to retain
[20:49] Speaker 3: this parliamentary seat.
[20:51] Speaker 8: I think it will be embarrassing for them. But at
[20:56] Speaker 8: the same time, I'm not sure that people within Labor
[20:59] Speaker 8: have a huge amount of hope for it going particularly
[21:01] Speaker 8: well at the moment, I think, you know, it's important
[21:04] Speaker 8: to realize that this is just one area and that
[21:07] Speaker 8: you know, I daresay if I were to be Devil's
[21:09] Speaker 8: advocate for labor, they would say that there are, you know,
[21:11] Speaker 8: some very idiosyncratic issues in this area, for example, the
[21:14] Speaker 8: WhatsApp scandal that Andrew Grimm was involved in. But at
[21:17] Speaker 8: the same time, you know, it is going to be
[21:19] Speaker 8: hugely embarrassing for them if they lose in a seat
[21:21] Speaker 8: where as recently as twenty twenty four they won fifty
[21:25] Speaker 8: point eight percent of the vote, and even more, it's
[21:30] Speaker 8: kind of hard to compare because the boundaries were slightly
[21:32] Speaker 8: different than the general election before that in twenty nineteen,
[21:35] Speaker 8: but it would have been even higher back then. So
[21:38] Speaker 8: I think if Labor are to you know, go from
[21:40] Speaker 8: that level to totally losing the seat, it is a
[21:43] Speaker 8: kind of really worrying sign for them, because you know,
[21:47] Speaker 8: if we're to have you know, this pattern repeated across
[21:50] Speaker 8: the country in areas where labor isn't was never this
[21:53] Speaker 8: this good, then you know, they're really looking at a
[21:56] Speaker 8: kind of potential wipeout at the next election, which is
[22:00] Speaker 8: due to be held by the next general election, which
[22:02] Speaker 8: is due to be held by twenty twenty nine.
[22:05] Speaker 3: So in terms of what's going on with the demographics
[22:09] Speaker 3: in the constituency, I think that's also quite interesting and
[22:11] Speaker 3: there's been quite a lot of focus on that in
[22:14] Speaker 3: terms of the economic challenges, worries, complaints or hopes that
[22:18] Speaker 3: people have for that tell us about the demographics arena.
[22:21] Speaker 9: So the Gorton and Denton has been called the Frankenstein
[22:24] Speaker 9: constituency because it's made up of very different parts. You know,
[22:28] Speaker 9: you have Gorton and crucially this is where two thirds
[22:31] Speaker 9: of the population lives, and Gordon is very ethnically diverse.
[22:36] Speaker 9: Forty percent of residents identify as Muslim.
[22:38] Speaker 11: You know.
[22:39] Speaker 9: One of the main places we visited there is the
[22:41] Speaker 9: Alongside Market, this big open air market reminiscent of Istanbul bazaars,
[22:46] Speaker 9: and it also has a Gorton has a large share
[22:49] Speaker 9: of students and university graduates and a larger share of these.
[22:52] Speaker 10: People than Denton.
[22:54] Speaker 9: So Gordon is fertile ground you know for labor and
[22:57] Speaker 9: the Greens both have their headquarters there and as Lucy said,
[23:00] Speaker 9: you know, we saw lots of Green posters, but not
[23:03] Speaker 9: that many Labor, I would say when we visited last week.
[23:06] Speaker 9: And then you know, then there's Denton and as soon
[23:09] Speaker 9: as you cross into Dent and you can almost tell
[23:11] Speaker 9: the difference because the houses are bigger somehow, and you know,
[23:15] Speaker 9: Reform has set up it's HQ there and it's in
[23:18] Speaker 9: a large, sort of sleek warehouse. And you know, regardless
[23:22] Speaker 9: whether you're from Gorton or Dent. And I think all
[23:24] Speaker 9: voters seem to agree on one thing. You know, they
[23:26] Speaker 9: won't vote Labor again. But not many people have made
[23:31] Speaker 9: up their mind about whether they go to the Greens
[23:33] Speaker 9: or Reforms. So you know, Reform seems to be alienating
[23:36] Speaker 9: voters and the ethnically diverse Gorton with its anti immigration message,
[23:41] Speaker 9: and you know, some residents said they won't vote for
[23:43] Speaker 9: them because they're racist. However, you know, the Greens similarly
[23:47] Speaker 9: are putting off other voters. For example, there was this
[23:52] Speaker 9: this resident we spoke to who said, you know, I
[23:55] Speaker 9: don't like Labor. I will vote for Reform even though
[23:59] Speaker 9: I don't with their stands on immigration. But I won't
[24:01] Speaker 9: vote for the Greenes because I don't like their stands
[24:04] Speaker 9: on prebritty blockers. So it's really really up in the
[24:09] Speaker 9: air sort of who will win?
[24:11] Speaker 3: Okay, thank you to both of you for your reporting
[24:14] Speaker 3: on the ground and for being with me here today.
[24:17] Speaker 3: My thanks to Bloomberg's economics reporter Arena Angel and to
[24:21] Speaker 3: our politics reporter Lucy White.
[24:23] Speaker 10: Thank you.
[24:24] Speaker 3: Now I want to read out a full list of
[24:25] Speaker 3: the candidates, of course, who are running for this by
[24:28] Speaker 3: election in Gordon and Denton. Nick Buckley Advanced UK, Charlotte
[24:33] Speaker 3: Cadden Conservative Party, Dan Clark Libertarian Party, Matt Goodwin Reform UK,
[24:40] Speaker 3: Sebastian Moore Social Democratic Party, Joseph o'meecher Rejoin EU Party,
[24:46] Speaker 3: Jackie Pearcy Liberal Democrats, Hannah Spencer, Green Party, Angeliki Soogia
[24:52] Speaker 3: Labor Party, Sir einke Loot the Official Monster Raving Looney Party,
[24:56] Speaker 3: Hugo Wills Communist League.
[24:59] Speaker 10: I'm Carol, yep.
[25:00] Speaker 3: Get here in London. You can catch us every weekday
[25:02] Speaker 3: morning here for Bloomberg Daybreak. You are beginning at six
[25:04] Speaker 3: am in London. That's at one am on woll Street. Nathan.
[25:08] Speaker 2: Thanks Caroline, and coming up on Bloomberg day Break weekend.
[25:11] Speaker 2: India's Prime Minister Narendra Modi is set for a two
[25:14] Speaker 2: day visit to Israel. We'll look at what to expect next.
[25:18] Speaker 2: I'm Nathan Hagar, and this is Bloomberg. This is Bloomberg
[25:32] Speaker 2: day Break Weekend, our global look ahead at the top
[25:34] Speaker 2: stories for investors in the coming week. I'm Nathan Hagar
[25:37] Speaker 2: and Washington. Indian Prime Minister Narendromodi is set for a
[25:40] Speaker 2: two day visit to Israel in the week ahead. For
[25:43] Speaker 2: a preview, let's get to Doug Krisner, hosted the Bloomberg
[25:45] Speaker 2: Daybreak Asia podcast.
[25:47] Speaker 4: Thanks Nathan. This will be Mody's second visit to Israel
[25:51] Speaker 4: in eight years. Back in July twenty seventeen, he became
[25:55] Speaker 4: the first Indian Prime minister to travel to Israel with
[25:58] Speaker 4: a goal of elevating tide. Israeli Prime Minister Benjamin Knyahu
[26:03] Speaker 4: has said there is a tremendous alliance between these two countries.
[26:06] Speaker 4: For a closer look, I'm joined by Bloomberg's Rosalind Matheson.
[26:10] Speaker 4: She is Chief Asia correspondent. Roz joins from our studio
[26:14] Speaker 4: in Singapore. Thank you for being here. From what I've read,
[26:18] Speaker 4: NATANYAHUU and Modi are expected to discuss various forms of cooperation.
[26:23] Speaker 4: Do you have a sense of which areas might be prioritized.
[26:28] Speaker 12: Two key areas really probably with their conversation. One is
[26:32] Speaker 12: momentum towards a free trade agreement. I mean, India tends
[26:36] Speaker 12: to move very slowly on trade deals over many years,
[26:39] Speaker 12: but they're suddenly in this environment of diversify or die
[26:43] Speaker 12: around the world on trade, They're rushing to get trade
[26:46] Speaker 12: deals done. I mean they just did significant trade deals
[26:50] Speaker 12: with the EU and also with the US, So there
[26:53] Speaker 12: is movement here on the Israeli front, and their significant
[26:57] Speaker 12: trade relationship already between the two countries. I mean, Israel's
[27:01] Speaker 12: a significant buyer of refined petroleum products from India, diamonds
[27:06] Speaker 12: as well. India is Israel's second biggest trading partner in Asia.
[27:11] Speaker 12: I think bilateral trade last year was around five billion dollars.
[27:15] Speaker 12: So there's a lot to talk about on the trade front,
[27:17] Speaker 12: and there's a lot to talk about on the defense front,
[27:20] Speaker 12: because India is obviously also moving away from Russia in
[27:24] Speaker 12: terms of weapons that it buys. It's still its biggest market,
[27:28] Speaker 12: but it is moving to buy more weapons from the US,
[27:32] Speaker 12: from France and from Israel, and so there'll be a
[27:34] Speaker 12: lot of discussion around the potential there around defense, but
[27:38] Speaker 12: also as part of that technology sharing when it comes
[27:41] Speaker 12: to defense, and so can they produce stuff together, but
[27:45] Speaker 12: can they share that technology when they do so.
[27:47] Speaker 4: So, India, as I understand, is also engaged in more
[27:51] Speaker 4: outreach to the Arab world. Last month, India hosted the
[27:55] Speaker 4: second India Arab Foreign Ministers Meeting. And I'm wondering whether
[27:59] Speaker 4: that necessity fairly complicates in some way Modi's mission.
[28:02] Speaker 10: Well, yes and no.
[28:04] Speaker 12: I mean India has been a strong supporter of Israel.
[28:07] Speaker 12: There's a clear relationship between Urendromod and Benjamin Netanyahu. I
[28:13] Speaker 12: mean they speak on the phone every couple of months,
[28:15] Speaker 12: if not each month. And India has supplied Israel with
[28:19] Speaker 12: drones and been quite a supporter when it comes to
[28:23] Speaker 12: their actions in Gaza. But also they don't recognize Jerusalem
[28:27] Speaker 12: as Israel's capital. There are some underlying issues that because
[28:31] Speaker 12: India above all is trying to maintain this idea still
[28:34] Speaker 12: a strategic autonomy which they've always tried to walk a
[28:37] Speaker 12: line on which is to have a balance of relationships.
[28:40] Speaker 12: And so that does mean do they look to have
[28:43] Speaker 12: outreach relationships with the Arab world as well? And is
[28:47] Speaker 12: Iran potentially a factor in all of this because obviously
[28:50] Speaker 12: there are serious tensions between Israel and Iran. There's the
[28:54] Speaker 12: specter potentially of US and Israeli intervention again in Ira.
[29:00] Speaker 12: So what's going to be Mody's message to be be
[29:02] Speaker 12: about that?
[29:03] Speaker 4: What about Modi's aim to try to bring in some
[29:06] Speaker 4: capital from Israel into various sectors of the Indian economy.
[29:11] Speaker 4: Are there any industries that come to mind.
[29:14] Speaker 12: Well, certainly there is further opportunity for India around stuff
[29:17] Speaker 12: like diamonds are already exporting a lot of that to Israel,
[29:21] Speaker 12: and refined petroleum products that don't sell raw crude to Israel,
[29:26] Speaker 12: but obviously there's a significant relationship there. So those will
[29:31] Speaker 12: be the two key things. But obviously they just also
[29:33] Speaker 12: want to set the table a bit around the parameters
[29:37] Speaker 12: of this FTA. Doesn't involve services, for example, I mean,
[29:41] Speaker 12: that's always a thorny issue for India in trade deals
[29:45] Speaker 12: is services. But it's really going to be probably at
[29:47] Speaker 12: a higher level around broader understandings when it comes to
[29:52] Speaker 12: trade and defense.
[29:53] Speaker 4: Modi is expected to address the Israeli Parliament, the Knesset.
[29:57] Speaker 4: Do we have a sense of the issues that Modi
[29:59] Speaker 4: may speak two.
[30:00] Speaker 12: At this stage, we do not, but we're expecting him
[30:03] Speaker 12: to talk broadly about fundamental ties and to do so
[30:07] Speaker 12: with again with some affection, particularly towards Benjamin Netanyahu. I mean,
[30:12] Speaker 12: BB says that Modi is popular in Israel. They talk
[30:16] Speaker 12: again on the phone quite often, so there'll be an
[30:18] Speaker 12: overarching sense of the relationship in that address. If it
[30:22] Speaker 12: happens to the Kanesset, to the Israeli Parliament. Modi will
[30:26] Speaker 12: probably want to steer clear of talking about things like
[30:29] Speaker 12: the West Bank. For example. India's tried not to get
[30:32] Speaker 12: involved in the issues regarding the West Bank and Israel's
[30:36] Speaker 12: policies there, so he'll probably steer away from that one.
[30:40] Speaker 12: He might talk more broadly around the prospects for a
[30:43] Speaker 12: longer term peace in Gaza and his desire to see
[30:46] Speaker 12: that happen. Of course, there's a ceasefar in Gaza, but
[30:49] Speaker 12: there's big questions about how you go from that to
[30:52] Speaker 12: a more fundamental, long term peace in Gaza and what
[30:55] Speaker 12: it means in terms of the disarmament of Hamas. For example,
[31:00] Speaker 12: probably walk a pretty clear line there about not going
[31:02] Speaker 12: into particularly tricky issues around the West Bank.
[31:06] Speaker 4: What about the relationship that both India and Israel have
[31:10] Speaker 4: with the United States and particularly President Trump.
[31:13] Speaker 12: Well, it's one of those things. We're in this period
[31:15] Speaker 12: where again, relationships are shifting pretty quickly. Power balances around
[31:20] Speaker 12: the world are shifting pretty quickly, and again we're seeing
[31:23] Speaker 12: that in things like trade deals getting done that were
[31:25] Speaker 12: you know, on hiatus essentially for many years. This idea
[31:29] Speaker 12: that you have to have a diversification of your relationships,
[31:32] Speaker 12: and some of that is spurred by the administration of
[31:36] Speaker 12: Donald Trump. Certainly there have been tensions between the US
[31:40] Speaker 12: and India. We saw that, really the trade deal went
[31:43] Speaker 12: into the freezer for some months as a result, you know,
[31:46] Speaker 12: Donald Trump really pushing India over its purchases of Russian
[31:50] Speaker 12: energy and singling India out in that and that was really,
[31:54] Speaker 12: you know, something that Modi couldn't publicly tolerate for his
[31:58] Speaker 12: prestige at home. That said, the US and India will
[32:02] Speaker 12: always have a relationship. Modi's just simply about having you know,
[32:06] Speaker 12: that diversification strategy going. And obviously, you know, Israel and
[32:10] Speaker 12: the US, BB and Trump have generally a strong relationship.
[32:14] Speaker 12: The occasional tussle over certain aspects of the Middle East
[32:18] Speaker 12: but it's a strong relationship, so you can imagine that,
[32:21] Speaker 12: you know, BB and Modi will talk quite generally in
[32:24] Speaker 12: warm terms about the US during this trip.
[32:27] Speaker 4: What do we know about Modi's popularity in Israel? Is
[32:31] Speaker 4: he a widely popular politician?
[32:33] Speaker 1: Well?
[32:33] Speaker 12: Yes, according to BB, the Israeli leader, I mean, Mody
[32:37] Speaker 12: was the first India Prime minister to visit Israel back
[32:41] Speaker 12: in twenty seventeen. I think he had a flower named
[32:44] Speaker 12: after him as a chrysanthemum at the time. So there
[32:47] Speaker 12: is this kind of strong history of cooperation. They've had
[32:50] Speaker 12: full diplomatic ties between the countries for some decades, and
[32:55] Speaker 12: Mody is quite popular in Israel as a result, and
[32:58] Speaker 12: seen as someone who you know, hasn't been overtly critical
[33:02] Speaker 12: of Israel over its actions in Gaza, the conflict in Gaza.
[33:07] Speaker 12: He can expect to have a very warm welcome, including
[33:09] Speaker 12: by the Parliament.
[33:10] Speaker 4: I'm wondering whether China will come up as a part
[33:13] Speaker 4: of these discussions as well.
[33:14] Speaker 12: Yeah, certainly. Again, China is like China, the US other
[33:18] Speaker 12: great powers are always in the backdrop in these conversations
[33:21] Speaker 12: at the moment in terms of how you're balancing your
[33:24] Speaker 12: relationships and India again trying for this idea of strategic autonomy.
[33:28] Speaker 12: I mean, relationships between India and China go up and
[33:32] Speaker 12: they go can go down quite a bit, but they've
[33:34] Speaker 12: been on a warmer track in the past year or so,
[33:37] Speaker 12: driven in part by the tensions that India's had separately
[33:41] Speaker 12: with the US. So there's a pragmatism that comes into
[33:44] Speaker 12: all these relationships, including with China, and the sense of
[33:48] Speaker 12: what's China going to be doing around the Middle East,
[33:52] Speaker 12: developing its own business and trade ties, including with Arab nations,
[33:56] Speaker 12: and what does that lead to. So certainly it's in
[33:59] Speaker 12: the atmosphere these conversations, but there is a sense from
[34:02] Speaker 12: both Israel and a India in a way that these
[34:05] Speaker 12: things need to be done in a very pragmatic fashion.
[34:07] Speaker 4: What about the area of agriculture. Is there much in
[34:10] Speaker 4: the way of trade exchange between these two countries where
[34:13] Speaker 4: agricultural products are involved?
[34:16] Speaker 12: Not a ton, And agriculture is just a very thorny
[34:19] Speaker 12: issue for India again, like other countries, You've got in
[34:24] Speaker 12: a way this kind of mythical image of the India farmer,
[34:27] Speaker 12: and they are a very powerful voting block in India,
[34:31] Speaker 12: and you can see that Modi being very cautious about
[34:35] Speaker 12: moving away from subsidies for farm products in India or
[34:39] Speaker 12: trade deals that might disadvantage the farmers of his country,
[34:44] Speaker 12: and he's very achuned to that and his own popularity.
[34:48] Speaker 12: So they've tended to be quite protective, i would say,
[34:51] Speaker 12: of the India agricultural market, so very cautious about doing
[34:54] Speaker 12: deals as a result.
[34:55] Speaker 4: So from what I understand, Riz and Israeli delegation will
[34:59] Speaker 4: be leaving for New Delhi on Monday of next week
[35:03] Speaker 4: for a first round of kind of trade agreement talks.
[35:08] Speaker 4: So it seems like both sides are working at trying
[35:11] Speaker 4: to achieve something. Is there, in your mind a timeline
[35:14] Speaker 4: here as to when something needs to be kind of
[35:18] Speaker 4: agreed upon or is this going to be a kind
[35:20] Speaker 4: of a protracted, longer term project.
[35:23] Speaker 12: Well, there is a sense that things are picking up.
[35:26] Speaker 12: You had ministerial delegations going back and forth last year,
[35:30] Speaker 12: as you say this, an Israeli delegation due and New
[35:33] Speaker 12: Delhi in the coming week that's supposed to be sort
[35:36] Speaker 12: of technical talks, and it's the first round of those
[35:39] Speaker 12: technical talks. There was a framework agreement that was signed
[35:43] Speaker 12: last November, but it's a framework and there's a lot
[35:45] Speaker 12: of work to be done here as a result, but
[35:48] Speaker 12: you really do get the sense of momentum on both sides,
[35:51] Speaker 12: and some of the officials are saying that they're aiming
[35:54] Speaker 12: for a deal potentially at some point this year.
[35:57] Speaker 4: ROS will leave it there. Thank you so much for
[35:58] Speaker 4: helping us preview Prime Minister Modi's visit to Israel. That
[36:02] Speaker 4: is Bloomberg's Rasal and Matheson, our chief Asia correspondent, joining
[36:06] Speaker 4: us from Singapore. In the last week, India hosted an
[36:10] Speaker 4: artificial intelligence summit. It was there that Prime Minister Modi
[36:14] Speaker 4: said the event offered further proof that India is progressing
[36:17] Speaker 4: rapidly in the fields of science and technology. At the summit,
[36:21] Speaker 4: Bloomberg spoke with Arthur Mensch of the French firm mistral Ai,
[36:26] Speaker 4: and he addressed the Indian market for artificial intelligence.
[36:29] Speaker 11: So what we see is that on the infrastructure side,
[36:33] Speaker 11: India has taken a strong stance on the sovereignty and
[36:37] Speaker 11: so that's a place where we can play an important
[36:40] Speaker 11: role because the platform we bring is something that every
[36:43] Speaker 11: state we work with can actually customize. So in that aspect,
[36:47] Speaker 11: I believe there are a lot of synergies in between
[36:49] Speaker 11: what we can provide and what India already has. They
[36:52] Speaker 11: have taken some step in training models themselves as well. Again,
[36:56] Speaker 11: this is a place where the open source media that
[36:59] Speaker 11: we can provide can play because they can be used
[37:02] Speaker 11: as a basis to make models better at certain languages.
[37:05] Speaker 11: This is something that we actively do with certain states,
[37:07] Speaker 11: that we've done with Singapore, that we are doing with Morocco.
[37:10] Speaker 11: We've released a model last year called miss Calsaba which
[37:13] Speaker 11: is specifically good at Indian languages in texts, and so
[37:16] Speaker 11: that's something that we can improve through partnerships with Indian
[37:20] Speaker 11: companies that have access to more data. The audio models
[37:23] Speaker 11: that we've released, Vauxcral in particular, is very strong at
[37:25] Speaker 11: Indian language. We see audio as a big way in
[37:29] Speaker 11: which the consumer market in India engage with technology, and
[37:32] Speaker 11: so again that's a place where partnerships can actually take
[37:36] Speaker 11: us much further because we can provide the technology and
[37:39] Speaker 11: the training stack and the GPUs and the people that
[37:42] Speaker 11: know how to train models. But what we could benefit
[37:45] Speaker 11: from and what we could partner on is access to data,
[37:48] Speaker 11: access to the consumer market so that we can make
[37:50] Speaker 11: that technology better and give it put it in the
[37:52] Speaker 11: hands of, for instance, the Indian government.
[37:55] Speaker 4: That was Arthur Mensch from the French firm mistral Ai,
[37:58] Speaker 4: speaking to Bloomberg at the inn AI Impact Summit in
[38:01] Speaker 4: New Delhi. I'm Doug Prisner. You can catch us weekdays
[38:04] Speaker 4: for the Daybreak Asia podcast. It's available wherever you get
[38:08] Speaker 4: your podcast.
[38:09] Speaker 2: Nathan, Thanks Doug, and that does it for this edition
[38:12] Speaker 2: of Bloomberg day Break Weekend. Join us again Monday morning
[38:15] Speaker 2: at five am Wall Street Time for the latest on
[38:17] Speaker 2: markets overseas and the news you need to start your day.
[38:20] Speaker 2: I'm Nathan Hager.
[38:21] Speaker 5: Stay with us.
[38:22] Speaker 2: Top stories and global business headlines are coming up right now.

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