# OpenAI’s Revenue Run Rate Tops $40 Billion Ahead of IPO

An episode of [Bloomberg Intelligence](https://invisiblenetwork.ai/podcast/326301337), 14 Aug 2026, 22 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/61905496-55df-4979-8eba-b4a6011bf825/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 -Matthew Bloxham, Bloomberg Intelligence Senior and Tech Analyst, discusses top tech stories. OpenAI is on track to generate annualized revenue of more than $40 billion based on its current performance, roughly doubling its run rate from the end of 2025. The company's revenue has accelerated in recent months, driven in part by the growth of its AI coding software, subscription sales, and its nascent advertising business. -Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence, discusses the potential for a Workday buyout. According to Bloomberg Intelligence: A Workday buyout would signal that AI fears have pushed valuations too low for mission-critical software vendors, potentially setting up a broader sector rerating. Workday's entrenched role as a system of record for enterprises supports our stance that its AI disruption risk is limited. -Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor, discusses his column: “Big Business Bought Influence. The Bill Is Due.” A poll found that contributing to the president's new White House ballroom was seen as the most damaging thing a company could do, with a net negative of 37 points. The administration has shown it is willing to inflict damage on companies that fail to bend to its wishes, and the public is watching how companies respond to its requests for donations. Companies that try to stay out of politics by quietly donating to the administration may find that this strategy ultimately hurts them, as the record of their donations will be public and can be used against them in the future. -Anna Edney, Bloomberg National Health Care Reporter, discusses the Bloomberg Big Take story: “Pet Owners Are Giving Cats and Digs Anti-Aging Drugs.” Pet owners are spending money on experimental treatments they believe will help their pets live better and longer lives, including peptide injections, red-light therapy, and nutritional supplements. Some pet owners are giving their pets rapamycin, a drug that has shown promising anti-aging properties in studies with mice, despite the lack of official results on its effectiveness in dogs and cats. The pet supplement market is growing, with about 10% of pet owners purchasing senior or anti-aging supplements, and companies like Loyal Animal Health Inc. and Elanco Animal Health Inc. are working on developing new drugs to extend pets' lifespans. 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
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[0:18] Speaker 1: Listen on demand wherever you get your podcasts, or watch
[0:21] Speaker 1: us live on YouTube.
[0:23] Speaker 2: Let's get back to take a look at tech space.
[0:26] Speaker 2: A lot of news out here every single day. It
[0:28] Speaker 2: seems like, unfortunately, we have a lot of smart people
[0:31] Speaker 2: we can talk to. I can explain all this stuff
[0:33] Speaker 2: to us and put it in context. One of them
[0:35] Speaker 2: is Matthew Bloxham. He's the senior media and tech analyst
[0:37] Speaker 2: for Bloomberg Intelligence. He's based in London. Matthew, I want
[0:41] Speaker 2: to start in the AI space. Why not, because that's
[0:43] Speaker 2: where we always seem to start. Open AI, one of
[0:46] Speaker 2: the lead players there, reported recently by Bloomberg News, is
[0:49] Speaker 2: on track to generate annualized revenue of more than forty
[0:53] Speaker 2: billion dollars based on its current performance. That is roughly
[0:57] Speaker 2: double its run rate from the end of twenty twenty five.
[1:00] Speaker 2: These growth rates are just extraordinary.
[1:02] Speaker 3: Here.
[1:02] Speaker 4: What does it tell you about Open AII in this
[1:04] Speaker 4: competitive market?
[1:06] Speaker 5: Yeah, well, it tells you that they're still arguably lagging
[1:11] Speaker 5: their biggest rival and Anthropic, because I think we heard
[1:14] Speaker 5: back in May that Anthropic was doing closer to fifty billion.
[1:19] Speaker 5: I think it's about forty seven billion, and we saw
[1:22] Speaker 5: some reports they just sending the Financial Times that by
[1:24] Speaker 5: the end of this year, Anthropics thinking it's going to
[1:27] Speaker 5: get to maybe one hundred, two hundred and twenty billion
[1:29] Speaker 5: dollars of annalyzed revenue. So I think, you know, there's
[1:32] Speaker 5: still a gap for Open Aye to close, but I
[1:34] Speaker 5: think the momentum is probably better than people have maybe
[1:39] Speaker 5: worried because you know, remember back at earlier in the year,
[1:41] Speaker 5: you know, it felt like maybe things weren't going quite
[1:44] Speaker 5: according to plan with Open Eye, and perhaps some of
[1:47] Speaker 5: the internal targets have been missed, and you know, they
[1:49] Speaker 5: made a real effort to kind of develop their enterprise offerings.
[1:54] Speaker 5: So what they offer into corporates has historically really been
[1:57] Speaker 5: about the kind of consumer subscription model and in looking
[2:00] Speaker 5: into advertising. And so I think this tells you that
[2:03] Speaker 5: the enterprise offerings are starting to gain some traction. Some
[2:08] Speaker 5: of the products like codex We're just Staying There, which
[2:11] Speaker 5: is their equivalent of clawed code and chat GPT works
[2:16] Speaker 5: which is more of a kind of generalized, kind of
[2:18] Speaker 5: multi application workflow tool. So it seems that they're, you know,
[2:23] Speaker 5: kind of getting some better attraction in the enterprise market,
[2:26] Speaker 5: and I think that's what they need to demonstrate to
[2:28] Speaker 5: kind of tell a good equity story to the markets
[2:32] Speaker 5: when they do eventually come with their IVO.
[2:36] Speaker 6: So if this was better than expected, I'm curious what
[2:38] Speaker 6: this means for how people might reassess what anthropics prospects
[2:43] Speaker 6: look like. I know, Anthropics said in May that it's
[2:45] Speaker 6: runate revenue had cross forty seven billion dollars, and we
[2:48] Speaker 6: don't know if you know the apples it's an apples
[2:51] Speaker 6: to apples comparison between the two. But now that open
[2:54] Speaker 6: Ai looks to be perhaps doing better than what some
[2:56] Speaker 6: people expected, how do you extrapolate that for what it
[2:59] Speaker 6: means for Anthropic.
[3:03] Speaker 5: I think it just kind of tells you what we
[3:05] Speaker 5: already knew, really that you know, this is a pretty
[3:08] Speaker 5: aggressive race between the two companies to kind of really
[3:13] Speaker 5: gain a strong foothold in the enterprise market. And I
[3:17] Speaker 5: can't guess really just address every single type of AI
[3:20] Speaker 5: opportunity that they're today and could be kind of evolving
[3:23] Speaker 5: and obviously. You know, yesterday we had that user Anthropic
[3:26] Speaker 5: might be buying a small kind of you know, startup
[3:29] Speaker 5: for six billion dollars to primarily help the kind of
[3:32] Speaker 5: efficiency of how technology uses their models. And then also
[3:36] Speaker 5: on top of that, you've got the the China models,
[3:40] Speaker 5: you know, which are kind of broadly comparable in performance
[3:44] Speaker 5: but a lot cheaper. So there's like multiple dimensions to
[3:47] Speaker 5: this competitive race, and that you know that there's still
[3:50] Speaker 5: a lot for all of these companies to do to
[3:52] Speaker 5: execute well and justify what's potentially going to be a
[3:55] Speaker 5: very big multiple when they come to market.
[3:58] Speaker 4: Matthew thirty seconds left.
[3:59] Speaker 2: Here is is the expectation that enterprise customers will.
[4:03] Speaker 4: Have more than one AI service or software or whatever
[4:08] Speaker 4: you calling it. Yeah.
[4:10] Speaker 5: Absolutely, I we clearly see that today many companies are
[4:15] Speaker 5: parallel running Gemini Chat TPT Claude, and I think already
[4:21] Speaker 5: you're kind of seeing some kind of dis sermon about
[4:24] Speaker 5: which models work best for different types of application. So
[4:29] Speaker 5: I think, just like in every other bit of software,
[4:32] Speaker 5: you know that there's clearly going to be a handful
[4:34] Speaker 5: of dominant players, but most corporations have a multitude of
[4:38] Speaker 5: software providers. They figured out which ones work best for
[4:42] Speaker 5: which particular use cases and workflow, and I think that's
[4:46] Speaker 5: not going to be any different in AI.
[4:48] Speaker 4: Stay with us. More from Bloomberg Intelligence coming up after this.
[4:55] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[4:59] Speaker 1: weekdays at ten Eastern on Applecarclay and Android Auto with
[5:02] Speaker 1: the Blue Work Business app. Listen on demand wherever you
[5:05] Speaker 1: get your podcasts, or watch us live on YouTube.
[5:09] Speaker 2: There's certainly technology news here. Workday buyout with Signal low
[5:14] Speaker 2: AI risk. Honorag Rana joins us here on our talk
[5:18] Speaker 2: to us about workday what's going on there?
[5:21] Speaker 7: So, Paul, if you remember we came back and I
[5:23] Speaker 7: think January February timeframe when we did a big report
[5:27] Speaker 7: saying that you know, all software is not created equal.
[5:30] Speaker 7: Everything was down forty fifty percent, you know, at that time,
[5:34] Speaker 7: just within a period of one and a half months,
[5:36] Speaker 7: and we had picked out SAP, Workday, Shopify and Service
[5:41] Speaker 7: Now as four vendors that are you know, best in
[5:43] Speaker 7: classed in their own category of what they do. And
[5:47] Speaker 7: we said, you know, these kinds of workflows are critical
[5:49] Speaker 7: for an enterprise and it's not going to be easy
[5:52] Speaker 7: for a large language model to disrupt them now. At
[5:55] Speaker 7: the same time, you know, what I say doesn't matter.
[5:57] Speaker 7: But at the end of the day, if somebody wants
[5:59] Speaker 7: to go take them private, I think that really, you know,
[6:02] Speaker 7: is the real message that if private equity wants to
[6:06] Speaker 7: spend billions of dollars taking them private, then maybe there
[6:09] Speaker 7: is value for a lot of these firms out there.
[6:11] Speaker 7: And that's what we saw yesterday. There's there's some rumor
[6:14] Speaker 7: out there that that these guys may be taken private,
[6:17] Speaker 7: and you know, we think if that happens, that really
[6:20] Speaker 7: changes the narrative and the software landscape, which has been
[6:22] Speaker 7: under pressure for the last two years or so.
[6:25] Speaker 2: And to just follow up on that, workday shares jumped
[6:28] Speaker 2: after awards report that private equity firms silver Lake is
[6:31] Speaker 2: in talks to purchase the software provider, and just puts
[6:35] Speaker 2: context around that. Silver Lake, in my mind, is by
[6:39] Speaker 2: far the number one technology focused private equity firm out there,
[6:43] Speaker 2: some of the smartest people. They've got a tremendous history
[6:46] Speaker 2: of deal flow.
[6:47] Speaker 6: Yeah, it certainly sends a signal perhaps that that sas
[6:50] Speaker 6: apocalypse whatever they were calling it, you know, might be
[6:52] Speaker 6: over as a result. So anrag if this continues to
[6:56] Speaker 6: be something where they're negotiating this and silver. As Paul mentioned,
[7:01] Speaker 6: you know, a big name sending a message. What other
[7:03] Speaker 6: companies might also be, you know, being eyed for acquisitions.
[7:09] Speaker 7: So we had mentioned some of the others, but they're
[7:11] Speaker 7: too large, I mean, just a minter frankly speaking, some
[7:13] Speaker 7: of the you know ones we talked about. I said,
[7:15] Speaker 7: it's just too big for anybody to take private. But
[7:17] Speaker 7: what it does is you just need to be honest,
[7:20] Speaker 7: take care of one of them. The rest of the
[7:22] Speaker 7: industry will come out because right now, investors just don't
[7:25] Speaker 7: want to be in the software space. The only space
[7:27] Speaker 7: for them is to just go buy memory or AI
[7:30] Speaker 7: infrastructure or chips and leave everything else aside. And you know,
[7:34] Speaker 7: it's not good for the software industry, mostly because a
[7:36] Speaker 7: very people centering industry. So if the evaluation keeps the
[7:39] Speaker 7: depressed depressed, you know, all these employees will go out
[7:42] Speaker 7: leave and then go to the model companies and so
[7:45] Speaker 7: so you know, this is just a good sign for everybody.
[7:47] Speaker 4: Frankly, stay with us. More from Bloomberg Intelligence coming up
[7:50] Speaker 4: after this.
[7:55] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us Live
[7:59] Speaker 1: weekdays that am Eastern on Apple Coarclay, and Android Auto
[8:02] Speaker 1: with the Bloomberg Business app, Listen on demand wherever you
[8:05] Speaker 1: get your podcasts, or watch us live on YouTube.
[8:10] Speaker 2: A recent poll found that contributing to the President's new
[8:14] Speaker 2: White House ballroom was seen as the most damaging thing
[8:17] Speaker 2: a company could do, with a net negative of thirty
[8:21] Speaker 2: seven points. So welcome and dig into that a little bit.
[8:24] Speaker 2: We can do that with Mukunda lecture at Yale School
[8:27] Speaker 2: of Management and a Bloomberg opinion contributor on his column
[8:32] Speaker 2: entitled big Business Bought Influence. The bill is due Caltham,
[8:36] Speaker 2: Thanks so much for joining us here. President Trump has
[8:39] Speaker 2: done a pretty admirable.
[8:40] Speaker 4: Job from his.
[8:41] Speaker 2: Perspective of courting corporate America and getting their support in
[8:45] Speaker 2: many different forms. Put that into context for us, because
[8:48] Speaker 2: that's not something you see too often.
[8:51] Speaker 8: Yeah, I mean it's too often, is kind of It's
[8:53] Speaker 8: like the nice way of putting in, Paul, But we've
[8:54] Speaker 8: really never seen anything like a president leaning on companies
[8:57] Speaker 8: and individuals for donations in this way. You know, every
[9:00] Speaker 8: politician fundraises are almost every politician. There's always some sense
[9:05] Speaker 8: as scent of favoritism or you know that there's there
[9:08] Speaker 8: are reasons people are so suspicious of campaign finance, but
[9:11] Speaker 8: the idea of the president saying, hey, I have this
[9:13] Speaker 8: personal project that's sort of borderline legal, and you guys
[9:16] Speaker 8: are just going to write the check for it, And
[9:19] Speaker 8: mysteriously companies that write these checks somehow keep getting regulatory favors.
[9:23] Speaker 8: I'm sure that's just a coincidence. Like, it looks bad,
[9:27] Speaker 8: it looks really really bad. And the public, you know,
[9:29] Speaker 8: even members of the public who are sympathetic to the
[9:32] Speaker 8: Trump administration broadly, they really don't like corruption. And this
[9:36] Speaker 8: looks this, you know, this kind of looks like that.
[9:39] Speaker 6: To be fair for the companies that have donated to
[9:42] Speaker 6: the Wall Street Sorry, Wall Street, the White House ballroom,
[9:46] Speaker 6: is that a personal project? I mean, at the end,
[9:48] Speaker 6: you know, when President Trump Leave's office, that ballroom will
[9:51] Speaker 6: still be there, and it will be the White House
[9:53] Speaker 6: will be occupied by whoever the American public elects next.
[9:57] Speaker 8: So I guess what I'd say is that is true.
[9:59] Speaker 8: But it is also true that the president seems so
[10:01] Speaker 8: personally obsessed by this ballroom that he keeps like discussing
[10:04] Speaker 8: it in formal sort of meetings with other heads of state.
[10:07] Speaker 8: There's wasn't any demand for it. No previous president has
[10:10] Speaker 8: asked for it. And whatever it is, you know it
[10:12] Speaker 8: is when sort of when you see the drawings of designs,
[10:15] Speaker 8: it is elaborate in a way that you know is
[10:17] Speaker 8: let's say, unique to the Trumpian esthetic. So I think
[10:20] Speaker 8: wek it's fair to say that this is a personal
[10:22] Speaker 8: project because there was no demand for it from anyone
[10:25] Speaker 8: except President Trump.
[10:26] Speaker 2: One could argue that it's understandable why these companies would
[10:31] Speaker 2: do whatever they have to do to stay out of
[10:33] Speaker 2: the crossairers of the president, because the president can in
[10:36] Speaker 2: fact impact your business, your industry. I mean Tim Cook,
[10:40] Speaker 2: he stepped out of CEO, but he's kept his role
[10:42] Speaker 2: as chairman, and most people feel like it's simply to
[10:44] Speaker 2: manage the relationship with a China but b President Trump.
[10:49] Speaker 8: No, Paul, I think that's exactly right, And I honestly
[10:52] Speaker 8: have a lot of sympathy for sort of the leaders
[10:54] Speaker 8: who are put in this situation. I think I actually,
[10:56] Speaker 8: I think I said on your show like a year ago,
[10:58] Speaker 8: that Tim Cook did he gave Donald Trump this sort
[11:01] Speaker 8: of gold statue or a thing as a way and
[11:03] Speaker 8: got these deals and all it cost him was his dignity,
[11:07] Speaker 8: and I think that's right. Like, if you are a
[11:09] Speaker 8: corporate leader, the pressure on you to do this is immense.
[11:13] Speaker 8: They're sure you know, the consequences of not doing it
[11:15] Speaker 8: are very real. The reason I wrote this column is
[11:17] Speaker 8: I want to point out that just because in the
[11:20] Speaker 8: short term this might feel right, like the right thing
[11:22] Speaker 8: to do, in the long term, this is going to
[11:25] Speaker 8: blow up, and it's going to blow up really dramatically
[11:27] Speaker 8: in your face. Like whatever you think the likely outcome
[11:29] Speaker 8: of the next set of elections is, eventually someone is
[11:33] Speaker 8: going to come to power who does not view this
[11:35] Speaker 8: sort of thing favorably.
[11:36] Speaker 4: Who's going to say, we're going to.
[11:37] Speaker 8: Do some investigations, we're gonna have this, we're gonna have
[11:39] Speaker 8: sub poena power, We're gonna call you up in front
[11:41] Speaker 8: of Congress. And you know, if there is one email
[11:44] Speaker 8: that you sent, one text message that says, well, you know,
[11:48] Speaker 8: this is a shakedown and really I feel like I'm
[11:50] Speaker 8: bribing and I don't have a choice, but I have
[11:52] Speaker 8: to do it. That's going to come out and it's
[11:54] Speaker 8: going to look awful. And it's not just the Democrats
[11:57] Speaker 8: are going to be enraged that you were willing to
[11:59] Speaker 8: support this sort of stuff. The average American, the polling
[12:02] Speaker 8: data is very clear, really really does not like it
[12:04] Speaker 8: when there's people are seen to be buying to be
[12:07] Speaker 8: buying influence and you are not going to have the
[12:10] Speaker 8: allies that you normally think you do. And then, just
[12:13] Speaker 8: to compound that problem, the usual response of that sort
[12:16] Speaker 8: of you know, for business for all, is look, I'll
[12:18] Speaker 8: just write checks to the other side. I'll found both sides,
[12:21] Speaker 8: and I'll buy it my way out. I just don't
[12:23] Speaker 8: think that's going to work as well as it used to.
[12:25] Speaker 8: It's pretty clear that the rise of small dollar donations
[12:28] Speaker 8: and the sort of loathing of that kind of influence
[12:30] Speaker 8: trating is becoming so powerful that a lot of I
[12:33] Speaker 8: think a lot of Democrats and maybe even some Republicans
[12:36] Speaker 8: are going to start saying, look, I don't need your checks.
[12:38] Speaker 8: What I need is the credibility that comes from comes
[12:40] Speaker 8: from coming after you.
[12:42] Speaker 6: Okay, So you say that even not saying anything, not
[12:45] Speaker 6: doing anything is kind of a decision of sorts to
[12:48] Speaker 6: kind of comply with what's happening. Do you see evidence
[12:51] Speaker 6: of any company exhibiting the behavior that you would find respectable?
[12:58] Speaker 8: So, I mean, so as I said, like I wrote,
[13:00] Speaker 8: this comment starts to give people the idea what you
[13:02] Speaker 8: have to do, right, Like I this is a tough situation.
[13:05] Speaker 8: You are in a thing when the President of the
[13:07] Speaker 8: United States leans on you, right, that's an elephant leaning
[13:10] Speaker 8: on you. You have to do something. My suggestion to
[13:13] Speaker 8: companies is what they need to do, and they need
[13:15] Speaker 8: to do this proactively, is come out and basically say, like,
[13:18] Speaker 8: this is such a disaster, this is so awful. You
[13:21] Speaker 8: know that that we're forced to do this, that we
[13:23] Speaker 8: need to come out and say like, like, this tool
[13:25] Speaker 8: needs to be taken out of our toolkit so no
[13:27] Speaker 8: one can ever ask us to do this again. Like
[13:29] Speaker 8: and when you saw previous attempts in campaign campaign finance reform,
[13:32] Speaker 8: you know, champion by John McCain and people like him,
[13:35] Speaker 8: the business community was usually pretty strongly against it because
[13:38] Speaker 8: campaign finance was an enormously powerful weapon in their arsenal
[13:41] Speaker 8: and of sort of trying to get the government to
[13:43] Speaker 8: do what they wanted it to do. And it might
[13:45] Speaker 8: be time to say that that weapon is not worth
[13:47] Speaker 8: the cost of having it because of what's happening right now.
[13:50] Speaker 2: Do voters really care about this kind of stuff Gotham.
[13:54] Speaker 2: Isn't it just the economy?
[13:58] Speaker 8: So the thing is, I don't think that these are unlinked, Paul.
[14:00] Speaker 8: So if the economy is going great and everything is
[14:03] Speaker 8: perfect and where you know, like like, then I think
[14:05] Speaker 8: the temperature goes down. But one, right, the surface level
[14:08] Speaker 8: numbers on the economy are pretty great right now. Yet
[14:10] Speaker 8: people voters, they seem to be incredibly unhappy. And you know,
[14:14] Speaker 8: we always have this puzzle, why is it that voter
[14:16] Speaker 8: seems so unhappy when the economy seems like it's doing well.
[14:19] Speaker 8: But I think you know that there is a linkage
[14:22] Speaker 8: in most people's mind between things that seem like corruption
[14:26] Speaker 8: and favoritism and self feeling and why they themselves are
[14:30] Speaker 8: not benefiting from this economy that all the numbers say
[14:33] Speaker 8: is doing so well. And we've seen this, by the way,
[14:36] Speaker 8: this is not just in the United States, right. This
[14:39] Speaker 8: is the story that more than anything else, probably explains
[14:42] Speaker 8: why Orbon lost in Hungary. That it wasn't just about
[14:45] Speaker 8: sort of anti democratic motion motions and things like that.
[14:47] Speaker 8: There was this real sense of like that of elites,
[14:50] Speaker 8: the most powerful people in the political system and the
[14:52] Speaker 8: wealthiest people in Hungary who were sort of sucking up there,
[14:56] Speaker 8: you know, sucking up the wealthy economy into their own
[14:58] Speaker 8: hands and using corrupt tactics to do it. That you
[15:01] Speaker 8: know that doesn't it didn't go along well, down well
[15:03] Speaker 8: with the average Hungarian, and I'd be surprised if it
[15:06] Speaker 8: goes well with the average American.
[15:08] Speaker 4: I'm curious scot them.
[15:09] Speaker 6: What kind of feedback you've gotten from folks in the
[15:11] Speaker 6: business world to this column?
[15:15] Speaker 8: So an interesting It's it's been interesting, I'll say, is
[15:18] Speaker 8: that the nobody likes being leaned on by the president. Right,
[15:23] Speaker 8: Even people who are pretty sympathetic to this administration will say,
[15:27] Speaker 8: you know, the taking truth social and having it having
[15:32] Speaker 8: it like having having people pay one hundred thousand dollars
[15:35] Speaker 8: to get early access to the Trump to Trump tweets.
[15:37] Speaker 8: You know, even if it's not illegal, they think it's gross, right,
[15:41] Speaker 8: like like like it sticks in their craw There's something
[15:43] Speaker 8: deeply wrong about it. And I think there's like genuine
[15:46] Speaker 8: fear that this is going to escalate. That that what
[15:49] Speaker 8: we've seen in the first you know, two years of
[15:51] Speaker 8: the Trump of the Trump administration is these things keep
[15:53] Speaker 8: ramping up. Not to know, you don't know where it's
[15:56] Speaker 8: going to end.
[15:57] Speaker 4: Stay with us. More from Bloomberg Intelligence coming up after this.
[16:04] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[16:08] Speaker 1: weekdays at ten am Eastern on Apple, Cocklay and Android
[16:11] Speaker 1: Auto with the Bloomberg Business App. Listen on demand wherever
[16:15] Speaker 1: you get your podcasts, or watch us live on YouTube.
[16:19] Speaker 2: Pet owners are spending money on experimental treatments they believe
[16:23] Speaker 2: will help their pets live better and longer lives, including
[16:27] Speaker 2: peptide injections, red light therapy, and nutritional supplements. That is
[16:32] Speaker 2: the subject of our Big Take story today on the
[16:34] Speaker 2: Bloomberg Terminal. Anna Edni joins US national healthcare reporter for
[16:39] Speaker 2: Bloomberg News and talk to us about We know that
[16:42] Speaker 2: pet owners are spending a lot of money on their pets,
[16:46] Speaker 2: but this is something else.
[16:47] Speaker 4: Tell us what's going on.
[16:50] Speaker 3: Hey, yeah, you know, we do know that there's a
[16:53] Speaker 3: lot of spending going on for pet owners, But one
[16:57] Speaker 3: of the things that we talk to people about is
[16:59] Speaker 3: kind of outside that traditional you know, food that care,
[17:04] Speaker 3: things like that. These are people who are going above
[17:06] Speaker 3: and beyond to you know, try to make their pets
[17:10] Speaker 3: live longer if possible, and they're looking into some of
[17:14] Speaker 3: the things.
[17:15] Speaker 9: That a lot of humans are doing as well.
[17:18] Speaker 3: You know, biohacking is pretty popular these days, and so
[17:22] Speaker 3: it's peptides. There's a longevity drug called Rapamize, and this
[17:28] Speaker 3: experimental in this space also red light therapy that we
[17:33] Speaker 3: heard about from owners, and they're just trying to cobble
[17:36] Speaker 3: together all these different ways of keeping their pets with
[17:40] Speaker 3: them as long as they.
[17:41] Speaker 2: Can any evidence that any of this works or is
[17:47] Speaker 2: I mean, how do we how do we see that?
[17:49] Speaker 3: I guess yeah, I think that's a million dollar question.
[17:52] Speaker 3: And like I said, a lot of this is experimental,
[17:56] Speaker 3: So these are people kind of taking a chance, you know,
[18:00] Speaker 3: something that that's normally caution against. But what is happening
[18:06] Speaker 3: is there are some clinical trials. So there's a company
[18:09] Speaker 3: called Loyal that is a startup and they're trying to
[18:13] Speaker 3: come up with a longevity drug that they can get
[18:17] Speaker 3: conditional approval from the Food and Drug Administration on.
[18:19] Speaker 9: They're testing that. Now. There is the Dog Aging Project.
[18:24] Speaker 9: I talk to their.
[18:25] Speaker 3: Chief veterinary officer and she told me that, you know,
[18:30] Speaker 3: they are they're studying this drug called Rappa mice and
[18:34] Speaker 3: it is something approved for use in humans, but for
[18:37] Speaker 3: very specific use it's to help transplant patients not reject
[18:41] Speaker 3: that organ and smaller doses. There's thoughts that it might
[18:45] Speaker 3: work to improve lifespan, and so they're testing that on dogs.
[18:50] Speaker 3: They are enrolling a clinical trial now to see what
[18:52] Speaker 3: they might be able to find. That's based on some
[18:56] Speaker 3: promising mouse data, but we just don't know yet if
[18:59] Speaker 3: any of the actually works.
[19:01] Speaker 2: Every time I see this figure, it just blows my mind.
[19:05] Speaker 2: US pet spending expected to hit a record one hundred
[19:08] Speaker 2: and sixty five billion dollars this year. That's extraordinary. But
[19:13] Speaker 2: like this pet supplement market, is that a growing part
[19:17] Speaker 2: of that overall big pet spending market.
[19:21] Speaker 9: Yes, the pet supplement market is a big one.
[19:25] Speaker 3: You know.
[19:25] Speaker 9: I talked to.
[19:28] Speaker 3: Someone who does research and a lot of this, and
[19:31] Speaker 3: she's seeing even you know, the pet supplement market not
[19:35] Speaker 3: just growing, but recognizing this trend where people are looking
[19:40] Speaker 3: not just for kind of to treat aging issues, but
[19:46] Speaker 3: they want to go a step further, they want to
[19:48] Speaker 3: go into longevity.
[19:49] Speaker 9: And so she's seeing some of the labels.
[19:52] Speaker 3: Change over time more and more to say instead of
[19:55] Speaker 3: you know, this is for a senior dog, it's now
[19:58] Speaker 3: talking about longevity for a pet. So that they can
[20:02] Speaker 3: live longer. Certainly, the supplements are a huge part of
[20:05] Speaker 3: this industry.
[20:06] Speaker 2: What are the what's the veterinary community saying about this?
[20:10] Speaker 2: They support some of these things, or are they saying, hey,
[20:13] Speaker 2: we think this may be going a little too far.
[20:16] Speaker 9: I think there's there's caution for sure.
[20:19] Speaker 3: You know, the Dog Aging Project is very much run
[20:22] Speaker 3: by veterinarians, the ones who are testing this some of
[20:26] Speaker 3: this stuff, but the you know, overall, they're there.
[20:29] Speaker 9: Even they have they say like, we don't know yet.
[20:33] Speaker 3: We're testing it because we don't know, and so you know,
[20:37] Speaker 3: they're sort of the The Veterinary Association says to to
[20:41] Speaker 3: be careful when when thinking about this. They don't come
[20:45] Speaker 3: out right and say just don't do any of this.
[20:48] Speaker 3: I mean a lot of people are doing it for themselves.
[20:50] Speaker 9: As well, but they do say that, you.
[20:52] Speaker 3: Know, when it's an unproven drug, there can it can
[20:55] Speaker 3: cause problems. And I talked to a vet who said
[20:58] Speaker 3: that they see supplement causing problems often and pets they're
[21:03] Speaker 3: coming into the vest office and they're having issues, they're sick,
[21:08] Speaker 3: and it's actually the supplements that are causing it sometimes.
[21:11] Speaker 3: So they want to get pet owners to stop the
[21:14] Speaker 3: supplements before they really try to go diagnose something else,
[21:18] Speaker 3: because often that's the problem.
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