# AI Chipmaker Cerebras Systems Seeks $4.8 Billion in Upsized IPO

An episode of [Bloomberg Intelligence](https://invisiblenetwork.ai/podcast/326301337), 11 May 2026, 18 min.

Audio: https://podtrac.com/pts/redirect.mp3/tracking.swap.fm/track/UVBrz8bN8aM2Xe47PEPu/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/7f534b8c-9e91-429a-b102-ae3c00090c6d/e573041c-4881-49b4-aacc-b447010faaa8/audio.mp3?utm_source=Podcast&in_playlist=0ad812bf-fd15-4012-a18c-ae3c00090c76

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu -Carmen Reinicke, Bloomberg Equities Reporter, discusses Cerebras Systems seeking to raise as much as $4.8 billion in its initial public offering, offering 30 million shares for $150 to $160 each. The company's IPO has drawn orders for more than 20 times the number of shares available, and is expected to price on May 13. -Catarina Saraiva, Bloomberg News Federal Reserve Reporter, discusses the Bloomberg Big Take story: “Powell Exits With Legacy Built on Central Bank Independence.” Jerome Powell's term as Federal Reserve Chair ends on May 15. He will, however, remain a member of the Board of Governors until January 31, 2028, much to the chagrin of President Donald Trump, who has repeatedly called for lower interest rates and sought to remove Powell over the Fed's monetary policy stance. Bloomberg looks at some of the highlights to his legacy. -Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses the latest in the biotech sector. President Donald Trump plans to fire Food and Drug Administration Commissioner Marty Makary, according to a person familiar with the matter. Repatriation flights of passengers aboard the MV Hondius cruise ship hit by a deadly hantavirus outbreak began on Sunday. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the
[0:10] Speaker 1: Bloomberg Intelligence Podcast. Catch us live weekdays at ten am
[0:14] Speaker 1: Eastern on Apple, Cocklay and Android Auto with the Bloomberg
[0:17] Speaker 1: Business App. Listen on demand wherever you get your podcasts,
[0:21] Speaker 1: or watch us live on YouTube.
[0:24] Speaker 2: Bloomberg's Carmen Ryankey. Carmen is going to stay with us
[0:27] Speaker 2: because she wrote a very cool story on yet another
[0:31] Speaker 2: monster IPO that is you guessed it over subscribed. Carmen
[0:35] Speaker 2: talked to us about which deal you're looking at you.
[0:38] Speaker 3: Yeah, so we're looking at Sarah Bross Systems. So the
[0:41] Speaker 3: thing that's interesting here, So it's an artificial artificial intelligence
[0:44] Speaker 3: chip maker, data center operator. Obviously all the age right now,
[0:47] Speaker 3: we're seeing so much demand for these kinds of companies.
[0:51] Speaker 3: The company has upsized its initial public offering, so it's
[0:56] Speaker 3: now looking to raise nearly five billion. This is a
[1:00] Speaker 3: few so we had reported previously there was they had,
[1:04] Speaker 3: you know, a different price that they were seeking. And
[1:06] Speaker 3: this company also had applied for an IPO a few
[1:11] Speaker 3: months ago and with drawn nellisting and so they're back
[1:13] Speaker 3: to the public market here, but yeah, really significant. It's
[1:17] Speaker 3: expected to price later this week, so we'll be watching
[1:20] Speaker 3: for that day as well as well as the launch
[1:21] Speaker 3: of it.
[1:22] Speaker 2: Is unusual here, it's just the IPO price itself. Why
[1:24] Speaker 2: does it so high? One hundred and thirty five? Initially
[1:28] Speaker 2: it was one fifteen oh one twenty five. You don't
[1:29] Speaker 2: see that very.
[1:30] Speaker 3: Often, I know. Well, now we're seeing one fifty to
[1:33] Speaker 3: one sixty each. I mean, I think there's just so
[1:35] Speaker 3: much a demand in this category right especially we were
[1:38] Speaker 3: in this huge build out. We need data centers. There's
[1:41] Speaker 3: a chip shortage, so investors are really like clamoring for
[1:44] Speaker 3: more ways to play the AI trade.
[1:46] Speaker 4: I guess they don't need to make sure the price
[1:48] Speaker 4: is low because of what they do. They're an AI
[1:50] Speaker 4: chip maker, So if you want it, you got to
[1:51] Speaker 4: pay up.
[1:52] Speaker 2: Yeah, But it used to be we can back in
[1:55] Speaker 2: the day, you'd want to sell twenty to twenty five
[1:58] Speaker 2: percent of the deal to retail. In retail, it's a
[2:00] Speaker 2: lot easier to buy a twenty dollars stock or twenty
[2:02] Speaker 2: five dollars stock, just intuitively versus this now. But in
[2:05] Speaker 2: today's day and age, you can buy fractional shares and
[2:08] Speaker 2: that's how that gets done.
[2:09] Speaker 5: I guess, so I.
[2:09] Speaker 4: Mean, when bitcoins at eighty thousand, you think of that
[2:12] Speaker 4: as kind of the dividing line than like an IPO
[2:14] Speaker 4: at one hundred and twenty five, one hundred and thirty.
[2:17] Speaker 2: Okay, it's partly just gonna be a good I mean well,
[2:19] Speaker 2: to be an IPO banker. This year's going to be
[2:21] Speaker 2: just ripping, all right. This this deal's been led by Morgan, Stanley,
[2:24] Speaker 2: City Group, Barclay's and Ubs, so pretty.
[2:25] Speaker 4: Good they're getting paid. Yep, all right, Thank you so much.
[2:28] Speaker 4: Carmen Reinikey with the latest on our stock overs as
[2:31] Speaker 4: well as this upcoming IPO.
[2:35] Speaker 5: Stay with us.
[2:35] Speaker 4: More from Bloomberg Intelligence coming up after this.
[2:41] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[2:45] Speaker 1: weekdays at ten am Eastern on Apple, Cocklay and Android
[2:48] Speaker 1: Auto with the Bloomberg Business app. Listen on demand wherever
[2:51] Speaker 1: you get your podcasts, or watch us live on YouTube.
[2:56] Speaker 2: Scarlett pu and Paul Sweeney live here in our Bloomberg
[2:58] Speaker 2: In Directive Broker Studio streaming live on YouTube as well.
[3:01] Speaker 5: Well.
[3:01] Speaker 2: Joran Powell's term as Federal Reserve Chair ends on May fifteenth.
[3:05] Speaker 2: You will, however, remain a member of the Board of
[3:08] Speaker 2: governors until January thirty first, twenty twenty eight, much to
[3:12] Speaker 2: the Shagrina, President Donald Trump here, and that is a
[3:15] Speaker 2: subject of our Big Take story on the Bloomberg terminal today.
[3:19] Speaker 2: Katerina Sarajeva, Federal Reserve reporter for Bloomberg News. She joins
[3:23] Speaker 2: us from our Houston bureau. Katerina, change is taking place
[3:27] Speaker 2: at the Federal Reserve. FED Chairman j Palell stepping down.
[3:31] Speaker 2: What is his legacy going to be?
[3:32] Speaker 5: You believe? Yeah?
[3:35] Speaker 6: I mean it's really interesting, right because he's had a
[3:38] Speaker 6: jam packed eight years this chair. We've seen a global
[3:41] Speaker 6: pandemic and all that that did to the economy. We
[3:46] Speaker 6: saw the run up in inflation after that, and I
[3:48] Speaker 6: think in any kind of normal time that that would
[3:53] Speaker 6: have been his legacy, his response to the pandemic, but
[3:57] Speaker 6: also kind of the FEDS delay in raising rates to
[4:00] Speaker 6: combat that high inflation. But now, you know, I think
[4:04] Speaker 6: a lot of people are looking to what's currently going
[4:06] Speaker 6: on between the FED chair and the presidents as perhaps
[4:11] Speaker 6: really marking Chair Powell's legacy, and that's kind of this
[4:15] Speaker 6: battle to keep the FED independent.
[4:19] Speaker 4: How do you anticipate J. Powell to behave as a
[4:22] Speaker 4: FED board member, but not the FED chair, because he's
[4:26] Speaker 4: going to stay on in his role as a member
[4:29] Speaker 4: of the board even as he hands reins as FED
[4:32] Speaker 4: chair over to Kevin.
[4:33] Speaker 6: Worsh Yeah, that's right, and it's an unusual step. We've
[4:37] Speaker 6: only ever seen this once before in history, and that
[4:40] Speaker 6: was in the late forties, early fifties, so it's been
[4:44] Speaker 6: a long time. We don't really have a blueprint for this,
[4:47] Speaker 6: but what he has said Chair Powell himself is that
[4:51] Speaker 6: he will take a very kind of low key approach
[4:54] Speaker 6: to this. He won't be, you know, we won't be
[4:57] Speaker 6: hearing from him a lot. He won't be trying to
[5:00] Speaker 6: act as kind of a shadow chair or anything like that.
[5:04] Speaker 6: So it really does seem like he wants to kind
[5:07] Speaker 6: of fade into the background a little bit, obviously do
[5:10] Speaker 6: his job as a governor, but not be too out
[5:13] Speaker 6: in the open about it. Really let the new chair
[5:16] Speaker 6: kind of take over.
[5:18] Speaker 2: So, Katerina, I'm sure President Trump would like to see
[5:21] Speaker 2: Jerome Powell just off the FED all together, but presumably
[5:25] Speaker 2: that would take some greater reassurance that mister Powell would
[5:29] Speaker 2: not have legal liability in the future. Are we anywhere
[5:32] Speaker 2: along those discussions are those discussions even being had.
[5:36] Speaker 6: Yeah, I mean, I think you're right about that. And
[5:38] Speaker 6: also I think he wants to see some or have
[5:41] Speaker 6: some sort of assurance that the FED itself also won't
[5:44] Speaker 6: be that there won't be further legal attacks against it.
[5:49] Speaker 6: So you know, that would be like the administration trying
[5:52] Speaker 6: to fire someone else at the FED. So, I mean,
[5:55] Speaker 6: we have a couple things happening right now. There is
[5:58] Speaker 6: an internal investigation going on that the FED is now
[6:02] Speaker 6: conducting itself into, uh into this the Powell's testimony last
[6:08] Speaker 6: year before Congress. This was the reason why we had
[6:13] Speaker 6: the the DOJ investigation in the fall and winter, why
[6:17] Speaker 6: we had these subpoenas against Powell. This is what started
[6:20] Speaker 6: this whole criminal process against him that has been passed
[6:24] Speaker 6: along to the FED, so that at some point we'll
[6:26] Speaker 6: get a report on that and they can make criminal
[6:29] Speaker 6: recommendations to the d J if they see fit. So
[6:33] Speaker 6: I think you'll want to see that through. And then
[6:35] Speaker 6: we're also waiting on a Supreme Court decision about Governor
[6:40] Speaker 6: Lisa Cook, who Trump tried to fire last year, So
[6:43] Speaker 6: I think he will also want to kind of see that,
[6:46] Speaker 6: I'm guessing. So there's a there's a few different things
[6:50] Speaker 6: kind of hanging in the air still.
[6:52] Speaker 4: When it comes to Powell's legacy, I think about how
[6:55] Speaker 4: Ben Bernanki his predecessor, created this president where there's a
[7:00] Speaker 4: news conference after every decision as opposed to after certain decisions.
[7:05] Speaker 4: What did j Powell do that kind of changed the
[7:07] Speaker 4: way the FED communicates with the public.
[7:10] Speaker 6: Yeah, so so Chair Bernanke started the press conferences, but
[7:14] Speaker 6: they were just quarterly when he and when then FED
[7:18] Speaker 6: Chair Jana Yellen were doing them. Powell actually is the
[7:21] Speaker 6: one that started doing them after every meeting.
[7:23] Speaker 4: I see, thinks, yeah, which.
[7:25] Speaker 6: Is so that that's definitely kind of a communication legacy
[7:30] Speaker 6: for him, and we'll see if that continues in the warshare.
[7:35] Speaker 2: Yeah, in addition to sitting on the FED board. We
[7:38] Speaker 2: as mister Powell said, whether what he will do now
[7:42] Speaker 2: he steps down from the FED chairmanship is you can
[7:44] Speaker 2: do anything outside of the FED.
[7:47] Speaker 6: No, And they usually don't. I mean, that's a full
[7:49] Speaker 6: time job. They usually you know, no one at the FED.
[7:54] Speaker 6: None of the FED policymakers right now have other jobs
[7:57] Speaker 6: or do anything else. That's their their sole focus. So
[8:02] Speaker 6: I wouldn't expect that from him and honestly, even if
[8:05] Speaker 6: he were to fully leave, or whenever he does fully
[8:08] Speaker 6: leave the FED, I don't know if we'll see him
[8:10] Speaker 6: do anything else. You know, he's in his seventies, he
[8:15] Speaker 6: has grandchildren that he talks about frequently, So I don't
[8:18] Speaker 6: know if we would if I would expect him to
[8:20] Speaker 6: do a lot, even after he leaves the FED.
[8:24] Speaker 4: Sounds like he's ready for retirement, as he stays on
[8:27] Speaker 4: the FED board but is no longer chair. Is he
[8:29] Speaker 4: going to be a prolific FED speaker? You know, if
[8:32] Speaker 4: you go to Eco, go on the Bloomberg terminal, you
[8:34] Speaker 4: can see which FED governors or FED officials will be speaking.
[8:37] Speaker 4: Do we expect j. Powell to do any of that?
[8:40] Speaker 6: I don't think so we're not much That's at least
[8:43] Speaker 6: what he's indicated. He said, you know, we won't be
[8:47] Speaker 6: hearing from him that much, So I mean I would
[8:49] Speaker 6: expect maybe every once in a while a speech, and
[8:53] Speaker 6: the governors do speak frequently, as you mentioned, so that
[8:55] Speaker 6: is normal for them. But I think because he has
[8:59] Speaker 6: you know this this he was or you know, is
[9:02] Speaker 6: the chair soon to be stepping down. But because he
[9:05] Speaker 6: has that background, I think he'll want to be careful
[9:09] Speaker 6: because it might come off as him trying to steer
[9:12] Speaker 6: the committee or kind of come back to that leadership role, right,
[9:16] Speaker 6: and he definitely does not, you know, has said he
[9:20] Speaker 6: doesn't want to be doing that.
[9:22] Speaker 1: Kevin D.
[9:22] Speaker 2: Walsh joining come into FED chair. What are the expectations
[9:27] Speaker 2: now within you know, Fed watchers about what he's going
[9:31] Speaker 2: to do in his first days and weeks.
[9:34] Speaker 6: Yeah, I mean it's really interesting. He has spent a
[9:37] Speaker 6: long time over the past few years. He's really written
[9:42] Speaker 6: a lot about what he would like to change at
[9:44] Speaker 6: the FED and some of the things he would like
[9:46] Speaker 6: to do, everything from how the FED communicates and to
[9:51] Speaker 6: how it thinks about inflation, the kind of models it uses,
[9:56] Speaker 6: even the FED staff. So he's said a lot of
[9:59] Speaker 6: these things. But we just don't know how quickly he's
[10:02] Speaker 6: going to be able to implement some of these changes,
[10:05] Speaker 6: or how quickly he'll want to. I mean, I imagine
[10:07] Speaker 6: that he'll probably want to kind of get a lay
[10:10] Speaker 6: of the land. You know, he was a FED governor
[10:13] Speaker 6: but fifteen years ago at this point, right, so a
[10:15] Speaker 6: long time ago. So I imagine maybe in the first
[10:19] Speaker 6: few weeks we won't see a lot of change yet,
[10:22] Speaker 6: and then gradually kind of over time, we'll start to
[10:25] Speaker 6: see some things change, but we'll just have to see.
[10:29] Speaker 6: We really don't know. We haven't gotten a lot of
[10:31] Speaker 6: specifics from him about you know, when he'll do the
[10:35] Speaker 6: things he wants to do.
[10:36] Speaker 4: All right, good stuff, Thank you so much. Katerina Sariva
[10:39] Speaker 4: is our Bloomberg News FED reporter joining us from Houston.
[10:42] Speaker 4: And I guess that gets to the point Paul, about
[10:44] Speaker 4: how the FED is a consensus driven organization institution. Is
[10:48] Speaker 4: that by tradition or is that by you know, by rules,
[10:52] Speaker 4: like is that kind of written.
[10:53] Speaker 5: I don't know.
[10:54] Speaker 2: I'm not sure, but I think it's you know, there's
[10:57] Speaker 2: oftentimes like to act with be union ANIMs have the
[11:01] Speaker 2: unanimous votes. But now we're getting some dissenters, and maybe
[11:04] Speaker 2: we'll get more dissenters going forward.
[11:06] Speaker 4: Yeah, that's certainly been the case over the last year.
[11:08] Speaker 4: The dissension. Something that's normal at the Bank of England
[11:11] Speaker 4: less normal right at the FED.
[11:13] Speaker 1: Stay with us.
[11:14] Speaker 2: More from Bloomberg Intelligence coming up after this.
[11:20] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[11:24] Speaker 1: weekdays at ten am Eastern on Apple Cocklay and Android
[11:27] Speaker 1: Auto with the Bloomberg Business app listen on demand wherever
[11:31] Speaker 1: you get your podcasts, or watch us live on YouTube.
[11:35] Speaker 4: We want to focus in on what's going on in
[11:37] Speaker 4: the pharmer space, and especially you know, with a potential
[11:41] Speaker 4: change coming up at the head of the FDA. Sam
[11:45] Speaker 4: Vizzelli is our go to guy for all things pharma.
[11:47] Speaker 4: He is our director of research for Global Industries and
[11:49] Speaker 4: our senior pharmaceuticals analysts joining us right now from London. Sam,
[11:54] Speaker 4: the issue at hand is the future of the FDA
[11:56] Speaker 4: Commissioner Marty McCarey. There's a lot of tension and I'm
[12:01] Speaker 4: not sure if it's because there's clashing with rfk's MAHA
[12:05] Speaker 4: priorities or clashing with conservatives over things like the abortion
[12:09] Speaker 4: pill access, but there's a lot of unrest in the
[12:12] Speaker 4: FDA and the reports are that President Trump will be
[12:16] Speaker 4: replacing Martin McCay soon. What is the issue specifically from
[12:20] Speaker 4: where you see it?
[12:22] Speaker 5: Yeah, so, Scarlett, I mean the FDA since.
[12:25] Speaker 7: The change in administration, and they are obviously the appointment
[12:31] Speaker 7: of Robert Kennedy Junior to Hhshitch Overseas. Because some of
[12:34] Speaker 7: this has been in quite a bit of flux. The
[12:40] Speaker 7: Center for Drug Evaluation and Research, see that it takes
[12:44] Speaker 7: after drug approvals, looks after drug approvals.
[12:47] Speaker 5: That head has changed.
[12:49] Speaker 7: The Center for Biologics Evaluation and Research, which takes looks
[12:52] Speaker 7: after vaccines and gene therapies, et cetera, got a new head,
[12:57] Speaker 7: n A Prasad that had left as five which way
[13:01] Speaker 7: he was and then he came backing in and now
[13:02] Speaker 7: he's going again.
[13:03] Speaker 5: So there's been a lot of flux.
[13:05] Speaker 7: And when you get flux and they fired I don't
[13:06] Speaker 7: know three thousand, five hundred individuals, maybe I don't have
[13:10] Speaker 7: the exact number, but something in that sort of region,
[13:13] Speaker 7: you know, that's This is a lot of old time
[13:15] Speaker 7: knowledge that's left the agency.
[13:18] Speaker 5: Some refresh is pretty good, but that all of this
[13:22] Speaker 5: has happened under.
[13:23] Speaker 7: The the curre takership of Marty McCarey. And to all
[13:29] Speaker 7: instances and purposes, the folks I talk to say that
[13:32] Speaker 7: he's a perfectly knowledgeable, wonderful man. I have friends on
[13:36] Speaker 7: this on the by side who say to me that
[13:38] Speaker 7: he's been very good to them. And then on the
[13:40] Speaker 7: other hand, we hear all these issues and some biotics
[13:43] Speaker 7: having issues, et cetera. So I wouldn't be surprised if
[13:47] Speaker 7: there's something happening here.
[13:48] Speaker 4: What has Martin McCay done well? I mean, I think
[13:51] Speaker 4: about from a personal point of view, he's made estrogen
[13:54] Speaker 4: patches more accessible for women who are suffering through menopause,
[13:57] Speaker 4: and that's something he's written about in his book as well.
[14:00] Speaker 4: What has he done that, you know, will kind of
[14:02] Speaker 4: service his legacy if he does end up leaving.
[14:06] Speaker 7: Well, I think what was what's been good is that
[14:10] Speaker 7: he's much more available for us to hear from.
[14:13] Speaker 5: Do you know what I mean?
[14:14] Speaker 7: He does Twitter videos, sit downs and discusses and brings
[14:19] Speaker 7: ideas and wants to make animal.
[14:21] Speaker 5: Testing less uh required.
[14:25] Speaker 7: He wants to get drug development timelines shortened. They've done
[14:30] Speaker 7: some deals with air Faster Seneca and one of the
[14:32] Speaker 7: former company, Amgen. I think to try and reduce the
[14:35] Speaker 7: time of drug development, which gives farmer companies the.
[14:38] Speaker 5: Ability to bring drugs faster to patients.
[14:41] Speaker 7: What the problem is is that there's been all this
[14:45] Speaker 7: upheaval and issues with not knowing exactly what to expect
[14:49] Speaker 7: having had a deal with the FDA. When you go
[14:51] Speaker 7: back with your data and you know, bring some of
[14:53] Speaker 7: these things into public conversation where it shouldn't have been done.
[14:57] Speaker 7: So there's pluses and minuses here for and what the
[15:00] Speaker 7: FDA now needs is a solid a good, solid pair
[15:05] Speaker 7: of hands that just just get gets down to the
[15:08] Speaker 7: business of looking at the safety and efficacy of drugs. SAM.
[15:12] Speaker 2: If you know, when you talk to your pharma companies
[15:15] Speaker 2: and biotech companies, is it harder to get stuff done
[15:18] Speaker 2: today under this administration?
[15:21] Speaker 5: Easier?
[15:22] Speaker 2: About the same? Puts in takes kind of what's the
[15:24] Speaker 2: overall view.
[15:25] Speaker 5: Yeah, I would say it puts and takes. It's a
[15:27] Speaker 5: perfect phrase, yeah, because it depends who you talk to.
[15:29] Speaker 5: It depends whether you talk to the main public or
[15:31] Speaker 5: in private.
[15:32] Speaker 7: If you talk to you know, nobody wants to upset
[15:35] Speaker 7: the agency because if you already have some trouble or
[15:37] Speaker 7: some problem or some friction, why would you want.
[15:39] Speaker 5: To add to it.
[15:40] Speaker 7: So if you look at what companies are saying publicly,
[15:44] Speaker 7: everything's fine. But then companies go and say, well, you know,
[15:47] Speaker 7: we've had this drug discussion with the FDA. This was
[15:50] Speaker 7: what we were told to do, we did it, and
[15:52] Speaker 7: now they say no. So there's some of that going on,
[15:55] Speaker 7: which of course is reality. So I think it all
[15:58] Speaker 7: depends on who you talk to when you talk to
[16:01] Speaker 7: them in what's setting, you know, I think I think
[16:04] Speaker 7: that folks wouldn't mind the change here.
[16:07] Speaker 4: Before we you go, Sam, I got to ask you
[16:08] Speaker 4: about the hunt of virus that is been a big
[16:11] Speaker 4: issue with one of the cruise ships. We know that
[16:14] Speaker 4: Gene Hackman's wife passed away from this as well, and
[16:18] Speaker 4: so this is something that's kind of been percolating. But
[16:21] Speaker 4: how concerned should we be about the hunt of virus?
[16:24] Speaker 7: Yeah, and three people have perished on the boat, which
[16:26] Speaker 7: is obviously very sad. And I had with the current
[16:30] Speaker 7: knowledge that we have about these viruses, and there have
[16:33] Speaker 7: been other outbreaks before nineteen ninety three, there have been
[16:36] Speaker 7: transmissions to humans. It's a virus that doesn't transmit that easily.
[16:41] Speaker 7: It's not like COVID they just have to read someone's
[16:43] Speaker 7: breath in a restaurant and you catch it.
[16:47] Speaker 5: This is this requires.
[16:48] Speaker 7: Much closer contact, much higher duration of exposure, and quarantine
[16:55] Speaker 7: is the best way to silence it.
[16:56] Speaker 5: And but you need a functioning CDC that's.
[17:01] Speaker 7: On the ball finding people who have traveled back and
[17:05] Speaker 7: isolating them and finding their contacts and isolating them.
[17:09] Speaker 5: That's the best way to do it.
[17:10] Speaker 7: Don't forget, though, Scarlet viruses do have a nasty habit
[17:14] Speaker 7: of mutating, so we should always have that little thing
[17:17] Speaker 7: in the back of our mind that what we don't
[17:19] Speaker 7: want to happen. The more you allow it to transmit
[17:22] Speaker 7: to people, the more chancey gets.
[17:24] Speaker 4: Well, said Sam Fazelli. He is our director of Research
[17:27] Speaker 4: for Global Industries and senior pharmaceutols analysts for Bloomberg Intelligence,
[17:30] Speaker 4: joining us from London. A lot to cover here in
[17:33] Speaker 4: the world of biotech.
[17:34] Speaker 1: Always, always, This is the Bloomberg Intelligence podcast, available on Apple, Spotify,
[17:41] Speaker 1: and anywhere else you get your podcasts. Listen live each
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