# AI Chipmaker Cerebras Climbs 68% After Year’s Biggest IPO

An episode of [Bloomberg Intelligence](https://invisiblenetwork.ai/podcast/326301337), 15 May 2026, 24 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/1ee0bb4a-3553-4dcc-966b-b44b01136681/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 - Bailey Lipschultz, Bloomberg News Senior Equities Reporter, discusses Cerebras Systems shares jumping 68% in its trading debut after raising $5.5 billion in the year’s largest IPO. This illustrates investors’ surging appetite for artificial intelligence data centers and the chips running them. -- Anurag Rana, Bloomberg Intelligence Technology Analyst, discusses tech. Figma gave an outlook for revenue in the current period that topped analysts’ estimates, touting early traction from charging users directly for AI features. Apple's partnership with OpenAI has become strained, with OpenAI preparing possible legal action due to the AI startup not seeing the expected benefits from the deal. -Sid Philip, Bloomberg Chief Correspondent for Global Aviation, discusses Boeing appearing to have secured an order from China during US President Donald Trump's visit to the country, but details on numbers, aircraft type, and timing are unclear. - Randall Williams, Bloomberg Business of Sports Reporter, discusses the top business sports stories. Sheldon Adelson’s son-in-law, Patrick Dumont, has big plans for the Dallas Mavericks and the city. Also, a group led by Silver Lake executive Egon Durban is acquiring 25% of the Las Vegas Raiders, according to people familiar with the matter. 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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[0:21] Speaker 1: or watch us live on YouTube.
[0:24] Speaker 2: I'm going to talk about the new issue market because
[0:26] Speaker 2: we had a big IPO this week. Cerebris, I think
[0:30] Speaker 2: is kind of how we figured out how to pronounce it.
[0:33] Speaker 3: Uh, we've said it every which way.
[0:35] Speaker 4: Yes, Bailey's advice to me yesterday I went up.
[0:37] Speaker 5: He was on TV after words, and I said, how
[0:39] Speaker 5: do you pronounce this?
[0:39] Speaker 3: Because they got to do the story. He goes, just
[0:41] Speaker 3: pronounce it both ways.
[0:42] Speaker 5: That the way they can't accuse you. You say it correctly.
[0:45] Speaker 5: As long as you say it correctly one time, that counts.
[0:48] Speaker 4: That's what I believe. Okay, Cerebras.
[0:49] Speaker 2: Anyway, they went pub with ESA one hundred and eighty
[0:51] Speaker 2: five dollars. Was the IPO price traded up to like
[0:54] Speaker 2: three over three hundred bucks? Just extraordinary trade off one
[0:59] Speaker 2: or two percent. And here this morning belly Lipshitz, he
[1:03] Speaker 2: joins us. Here he covers all this IPO stuff and
[1:05] Speaker 2: all the equity markets.
[1:06] Speaker 4: So bailly, if you're looking to go public, this was
[1:09] Speaker 4: a good first one to come out the door.
[1:11] Speaker 2: I mean, if you're thinking about SpaceX and Anthropic and
[1:14] Speaker 2: all those other ones.
[1:14] Speaker 5: Yeah, it really does kind of serve as a quite
[1:17] Speaker 5: large appetizer, if you will, in terms of just the
[1:20] Speaker 5: sheer size of it. Again, north of five and a
[1:22] Speaker 5: half billion dollars. I don't know if we've confirmed that
[1:25] Speaker 5: they've exercised the green show. You have to imagine that
[1:27] Speaker 5: happened almost instantaneously, So this would be the largest chip
[1:30] Speaker 5: IPO of all time here in the US. And the
[1:32] Speaker 5: big focus is again in a few weeks, what happens
[1:35] Speaker 5: with SpaceX looking to raise seventy five billion dollars and
[1:38] Speaker 5: how the marketing digest that capital, and just thinking through
[1:43] Speaker 5: how that does set the table for an Anthropic and
[1:45] Speaker 5: Open AI potentially later this year. Just given that across
[1:48] Speaker 5: those three deals, it's pretty much an entire record year
[1:52] Speaker 5: of IPO proceeds.
[1:53] Speaker 3: And there is a lot of drama surrounding this IPO
[1:56] Speaker 3: because we had reporting that showed Armholdings and Software, which
[2:00] Speaker 3: owns ARM the majority owner, wanted to buy this company.
[2:04] Speaker 3: A couple of weeks before the IPO.
[2:06] Speaker 5: Yeah, it's kind of unsurprising for all intents and purposes.
[2:10] Speaker 5: The interesting thing from that reporting from Ed Ludlow and
[2:13] Speaker 5: the team is kind of the question around the cash
[2:17] Speaker 5: and stock component and when you think about the fact
[2:20] Speaker 5: that right now, Sarah Bros. Cerebras however you want to
[2:23] Speaker 5: pronounce it is about sixty five billion dollars in market cap. Yes,
[2:27] Speaker 5: ARM is two hundred and twenty five billion dollars, but
[2:29] Speaker 5: there is an interesting kind of financial gymnastics that would
[2:32] Speaker 5: have had to be kind of accomplished to complete that deal.
[2:36] Speaker 5: In the question then going forward is just how large
[2:38] Speaker 5: would the company be?
[2:39] Speaker 3: I mean the selling point Cerebras has or crevice Sarah.
[2:43] Speaker 4: Bros Cerebras, Cerebris.
[2:45] Speaker 3: Okay, let's just say Cerebras. The benefit it has is
[2:48] Speaker 3: that it's an AI chip maker and that like you know,
[2:51] Speaker 3: hits on so many different things. Right now, is it
[2:53] Speaker 3: a competitor twin video, Yeah, that's.
[2:56] Speaker 5: How they're billowing themselves. And there's is it actually yes
[3:00] Speaker 5: in the future potentially. I Mean it goes back to
[3:02] Speaker 5: like what is a TPU and how does the market
[3:05] Speaker 5: kind of evolve over time? In the big debate when
[3:07] Speaker 5: you talk to folks on the buy side, whether they
[3:09] Speaker 5: were interested or not in Sarah Bros. In twenty twenty six,
[3:12] Speaker 5: or even back in twenty twenty four when they wanted
[3:14] Speaker 5: to go public the first time was Okay, how large
[3:18] Speaker 5: can this company be? If we say in Vidia is
[3:21] Speaker 5: worth six trillion dollars, is there a path to one
[3:24] Speaker 5: hundred billion dollars? Is there a path to two hundred
[3:26] Speaker 5: billion dollars? And just using essentially basic math is if
[3:29] Speaker 5: there is going to be a real competitor for inn
[3:31] Speaker 5: Vidia and it is Sarah Bros. Then the valuation can
[3:35] Speaker 5: make sense again based on the trailing data, based on
[3:38] Speaker 5: what they've actually attained for now it is one of
[3:41] Speaker 5: the most expensive, if not the most expensive.
[3:43] Speaker 4: I wanted to go.
[3:43] Speaker 2: I mean, we've got a sixty five billion dollar market cap,
[3:46] Speaker 2: trailing revenue five hundred million dollars. Yeah, so I mean
[3:49] Speaker 2: what are we doing here? Was there any pushback on valuation?
[3:52] Speaker 2: I'll answer that no.
[3:53] Speaker 5: No. So we saw them launch initially with a range
[3:56] Speaker 5: of like one hundred and fifteen to one hundred and
[3:58] Speaker 5: twenty five bucks, as you mentioned, at prices at one
[3:59] Speaker 5: a five. According to the people around the deal. They
[4:03] Speaker 5: had ten billion dollars of demand before it formally launched,
[4:06] Speaker 5: which is not something you see. The vision going forward though,
[4:10] Speaker 5: is open. Aye is now a customer. They're diversifying away
[4:13] Speaker 5: from G forty two, which was kind of one of
[4:15] Speaker 5: the barecases a few years ago for the company. So
[4:18] Speaker 5: if you're buying into the idea that these hyperscalers are
[4:21] Speaker 5: going to spend spend, spend, then investing in the companies
[4:24] Speaker 5: that are actually producing the products that they're selling at
[4:27] Speaker 5: least has the upside because they're not going to bear
[4:29] Speaker 5: the cost if we are over indexing and overbuilding like
[4:32] Speaker 5: many people are fearing.
[4:33] Speaker 3: Is there cornerstone investor in Cerebrus No, not.
[4:37] Speaker 2: That I in my day, we didn't do cornerstone investors.
[4:40] Speaker 4: That's the thing work. Yeah, we work for a living
[4:42] Speaker 4: real quick SpaceX. Is that a joom thing potentially?
[4:45] Speaker 3: Yeah.
[4:45] Speaker 5: We expect the formal filing to go public next week.
[4:49] Speaker 4: That would set the table. That's going to be a
[4:51] Speaker 4: lot of fun for us.
[4:52] Speaker 5: I will be on vacation starting Wednesday, so I'm getting
[4:54] Speaker 5: out of the country. But yeah, so expecting that that
[4:57] Speaker 5: formal flip next week, that'll set the stage for a
[5:00] Speaker 5: listing likely before juneteenth.
[5:02] Speaker 3: Wow, and then fifteen days after that perhaps an entry
[5:05] Speaker 3: into the Nazaq one hundred and the queues.
[5:08] Speaker 2: Oh, I see what you're saying theresive investors in I
[5:11] Speaker 2: mean talk about interesting.
[5:12] Speaker 5: It's going to be fascinating to watch. I don't know
[5:15] Speaker 5: a double or triple levered SpaceX ETF day three, there's.
[5:18] Speaker 3: Already filings for all these ETFs. Companies haven't even gone
[5:21] Speaker 3: public yet.
[5:21] Speaker 5: There's a levered Sarah Bros ETF and it's US six hours.
[5:26] Speaker 4: Ye stay with us.
[5:29] Speaker 3: More from Bloomberg Intelligence coming up after this.
[5:35] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[5:39] Speaker 1: weekdays at ten am Eastern on Apple, Cocklay and Android
[5:42] Speaker 1: Auto with the Bloomberg Business app. Listen on demand wherever
[5:45] Speaker 1: you get your podcasts, or watch us live on YouTube.
[5:49] Speaker 4: We'll stuck a little technology. John Tucker was just reporting
[5:52] Speaker 4: on Figma.
[5:53] Speaker 2: Let's start there, because I have no idea who this company,
[5:55] Speaker 2: has never heard it before. So I'm gonna go to
[5:57] Speaker 2: anaag Ran at technology analyst. He gets paid to know
[6:00] Speaker 2: about this stuff for Bloomberg Intelligence. Anrach tell me about
[6:03] Speaker 2: what this company, Figma is. Why don't I know about it,
[6:06] Speaker 2: but they had some pretty darn good numbers here talk
[6:08] Speaker 2: to us about Figma.
[6:10] Speaker 6: Yes, Faulse, you may remember Pigma when Adobe tied to
[6:13] Speaker 6: acquired them a few years ago. It was one of
[6:15] Speaker 6: the biggest acquisitions by Adobe. To be honest, I went
[6:18] Speaker 6: and criticized Adobe for such a big acquisition when with
[6:21] Speaker 6: no real revenue. But this is a phenomenal company. It
[6:24] Speaker 6: does design software, so if you're designing applications, this is
[6:28] Speaker 6: place where you're going to go design the application and
[6:30] Speaker 6: the workflow and then you're going to get coded with it.
[6:33] Speaker 6: They came out public last year and you've seen the
[6:35] Speaker 6: stock down around let's say, eighty percent since then because again,
[6:39] Speaker 6: high growth company, right in the smack middle of being
[6:42] Speaker 6: disrupted by AI models, and you know, when you had
[6:45] Speaker 6: a brand new company, you know your financials are not
[6:48] Speaker 6: the best. So this has been the one that has
[6:50] Speaker 6: absolutely been crushed over the last twelve months. But last
[6:54] Speaker 6: night they showed that the growth rates actually picking up.
[6:57] Speaker 6: Their AI consumption is improving, and they are not you know,
[7:01] Speaker 6: they're working closely with large language models and helping out
[7:04] Speaker 6: their customers.
[7:06] Speaker 3: And I'm so glad you bring out the point that
[7:08] Speaker 3: the stock has gotten absolutely crushed because you take a
[7:11] Speaker 3: look at a one year chart. On August first, twenty
[7:14] Speaker 3: twenty five, it was trading out one hundred and twenty
[7:16] Speaker 3: two dollars, and of course yesterday or you know, prior
[7:20] Speaker 3: to this earnings release, it was trading below twenty dollars.
[7:22] Speaker 3: Now it's above twenty, but still a long way off
[7:25] Speaker 3: from those highs. Back in the summer of twenty twenty five,
[7:28] Speaker 3: you had mentioned on rog that Adobe wanted to buy
[7:31] Speaker 3: it but was stopped by regulators. Is this a takeover target?
[7:36] Speaker 3: Is it still a takeover target for anyone?
[7:38] Speaker 6: Well, Adobe would have been the right strait at that time.
[7:41] Speaker 6: And again I go back and say, when it happened,
[7:42] Speaker 6: I would really criticized Adobe for it, But I seem
[7:46] Speaker 6: now it looks like a very good design software. Now
[7:49] Speaker 6: I don't know if it can be acquired now because
[7:52] Speaker 6: you know, as I said, there was some regulatory issue
[7:54] Speaker 6: in the little market that they operate in. Figma operates in.
[7:57] Speaker 6: They actually have very high market share. They are the
[8:00] Speaker 6: predominant vendor with very little competition from any of the
[8:04] Speaker 6: bigger guys. But here the discussion was the reason why
[8:08] Speaker 6: it got crushed was people said, well, why don't I
[8:11] Speaker 6: just go into a cloud or an open AI and
[8:14] Speaker 6: start designing my application over there? And these guys are saying, listen,
[8:18] Speaker 6: it's not that simple. You can you know, coding, you
[8:20] Speaker 6: can do it anywhere, but designing requires a different skill set.
[8:24] Speaker 6: As I said, they have probably the best product that's
[8:27] Speaker 6: out there in that category.
[8:28] Speaker 2: Hey, Anrod to what extent is what we're seeing today
[8:32] Speaker 2: in Figma kind of emblematic of what maybe a lot
[8:34] Speaker 2: of software companies need to do, which is, hey, you've
[8:37] Speaker 2: been people have soldier stock concerned about the AI competitive threat.
[8:42] Speaker 2: The only way to get around that is just to
[8:44] Speaker 2: perform and put up good numbers. Is this kind of
[8:46] Speaker 2: a template for some of these other software companies.
[8:49] Speaker 6: Yeah, Paul, you really nailed it to the head over there.
[8:52] Speaker 6: That's exactly what needs to happen. But it was probably
[8:54] Speaker 6: a little easier for Pigma because the base of revenue
[8:57] Speaker 6: is small and even one of today signed a large
[9:00] Speaker 6: client with one of the hyperscale cloud providers. So what
[9:03] Speaker 6: happens is when you sign that big of a contract,
[9:05] Speaker 6: your graph rate goes up. But when you are a
[9:08] Speaker 6: larger company, let's say if you're a salesport or a workday,
[9:11] Speaker 6: you know one or two clients really don't do it
[9:13] Speaker 6: for you. That's really a macro play. And you know,
[9:16] Speaker 6: believe it or not, Macro right now in our text
[9:18] Speaker 6: doing very well, but macro for non AI tech is
[9:21] Speaker 6: not good. We think things are going to be tough
[9:23] Speaker 6: for salesforce and workday when they report in a few weeks,
[9:26] Speaker 6: because you know, if you see what's happening with deal
[9:29] Speaker 6: activity being pushed up because of the war, because of
[9:32] Speaker 6: all the uncertainty around rates, I think, you know, the
[9:36] Speaker 6: large software company won't have an easy time to show
[9:39] Speaker 6: a rebounding growth rates. So the real kicker has to
[9:42] Speaker 6: be that the declining growth rate needs to improve, but
[9:45] Speaker 6: it's going to be hard for the larger ones to
[9:46] Speaker 6: do it.
[9:48] Speaker 3: An I want to switch gears and get your take
[9:50] Speaker 3: on what's going on with Apple and open Ai. They
[9:53] Speaker 3: have a two year partnership, but it's starting to become free.
[9:56] Speaker 3: This is according to our reporting. Mark German of Bloomberg
[9:59] Speaker 3: News reporting on this, the startup open ai is failing
[10:04] Speaker 3: to see the expected benefits from the deal. And and
[10:07] Speaker 3: you know there's now talk a possible legal action here too.
[10:10] Speaker 3: Does this go back to the idea that Apple has
[10:12] Speaker 3: had a kind of a tough road here figuring out
[10:15] Speaker 3: how to deploys AI strategy.
[10:18] Speaker 4: So I'll take the slightly different angle on this thing.
[10:20] Speaker 6: You know, Apple, I think did a good job at
[10:22] Speaker 6: that time to tie up with open ai because open
[10:24] Speaker 6: i were the best model and it did, you know,
[10:27] Speaker 6: kind of at that point for a short term change
[10:29] Speaker 6: the narrative that Apple's embracing. But frankly speaking, if you
[10:32] Speaker 6: look at what open Ai did, you know, they basically
[10:35] Speaker 6: started a new firm where they're going to try to
[10:37] Speaker 6: do a device that could compete with Apple someday. They've
[10:40] Speaker 6: been poaching you know, engineers from Apple. But and frankly,
[10:43] Speaker 6: you don't do that to Apple. In fact, Elon Musk
[10:46] Speaker 6: also learned it the hard way. You know, a long
[10:47] Speaker 6: time ago. You have to work closely with Apple. Apple
[10:50] Speaker 6: went out and said, you know what, we're going to
[10:52] Speaker 6: license Google model for our models. We're going to allow
[10:55] Speaker 6: and Marx also report it on that same framework that
[10:58] Speaker 6: when they announced their Worldwide Developers Conference on June eighth,
[11:02] Speaker 6: they will showcase that consumers can use all the models
[11:05] Speaker 6: and not just OPENINGI. So I think there was a
[11:08] Speaker 6: little bad blood over there because opening I wanted to,
[11:10] Speaker 6: you know, compete with Apple, and you know Apple controls.
[11:13] Speaker 6: I think that one of the most important distributions for consumers,
[11:17] Speaker 6: and I think it's going to be very tough to
[11:19] Speaker 6: work with them.
[11:20] Speaker 4: A real quickly.
[11:21] Speaker 2: It just kind of came across. Recently, Bill Ackman takes
[11:24] Speaker 2: a stake in Microsoft stocks up a couple of percent.
[11:27] Speaker 2: Here today he says, tech deeply embedded into the ecosystem.
[11:33] Speaker 4: What do you make of Acman in Microsoft?
[11:35] Speaker 6: Yeah, maybe it had a note from back to January
[11:37] Speaker 6: when we said, you know, they're just being punished for
[11:39] Speaker 6: no reason. They are being punished because they're part of
[11:42] Speaker 6: the software bucket. But Microsoft is dead smack one of
[11:45] Speaker 6: the most important companies as we see AI grows.
[11:49] Speaker 4: Stay with us. More from Bloomberg Intelligence coming up after this.
[11:56] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[12:00] Speaker 1: weekdays at ten am Eastern on Applecarplay and Android Auto
[12:03] Speaker 1: with the Blueberg Business app. Listen on demand wherever you
[12:06] Speaker 1: get your podcasts, or watch us live on YouTube.
[12:10] Speaker 4: Check a look at Boeing right here.
[12:12] Speaker 2: Boeing, as you know, the CEO Boeing went with President
[12:14] Speaker 2: Trump over to China in large part looking for some business, presumably,
[12:19] Speaker 2: and I guess President Trump put out on social media
[12:22] Speaker 2: yesterday Trump said China would.
[12:23] Speaker 4: Buy two hundred quote big aircraft. I don't know.
[12:26] Speaker 2: Stock traded off about four percent yesterday, off about three
[12:29] Speaker 2: percent today, So maybe a little underwhelming. But let's check
[12:32] Speaker 2: out what's going on with Boeing and China a huge
[12:34] Speaker 2: market for Boeing, of course, Sid Philip, Deputy team leader
[12:37] Speaker 2: for Global Aviation Joints. This yere Sid, were you surprised
[12:40] Speaker 2: that the stock has been trading down on news that
[12:43] Speaker 2: China is going to be back buying some Boeing planes?
[12:47] Speaker 7: So on Facebook, Paul, it looks like a really good
[12:49] Speaker 7: deal for Boeing, given the fact that it's a two
[12:51] Speaker 7: hundred plane order. At the same time, the expectations were
[12:55] Speaker 7: much higher for this order from China, and so the
[13:00] Speaker 7: expectation was that they would order five hundred and seven
[13:03] Speaker 7: three seven Max jets as well as a large number
[13:07] Speaker 7: of white body jets. And unfortunately the details still aren't
[13:11] Speaker 7: clear on what the order comprises, what the aircraft types are,
[13:16] Speaker 7: what the timing of it, and both Boeing and China
[13:19] Speaker 7: have not really talked about what the order entails, and
[13:23] Speaker 7: so the market is a little underwhelmed by the order
[13:26] Speaker 7: given the fact that the possibility was much larger.
[13:30] Speaker 2: So just give us a little history here about for Boeing,
[13:33] Speaker 2: how big is the China market for them and how
[13:36] Speaker 2: has that market evolved over the last year or two.
[13:40] Speaker 7: So for Boeing, China has a really important market. China
[13:43] Speaker 7: is the world's second largest aviation market. And given the
[13:46] Speaker 7: fact that Comac, which is the Chinese rival to both
[13:49] Speaker 7: Airbus and Boeing, isn't really producing airplanes at such a
[13:53] Speaker 7: large scale. So for Boeing this is an important market
[13:56] Speaker 7: and a market that hasn't really seen any order momentum
[13:59] Speaker 7: in the last almost a decade since when Trump was
[14:03] Speaker 7: last in China. So for Boeing, this was the moment
[14:06] Speaker 7: that they would get their next big break from China.
[14:09] Speaker 7: Unfortunately that hasn't happened. I mean Airbus in that meantime,
[14:12] Speaker 7: as it secured over seven hundred plane orders, and so
[14:15] Speaker 7: for Boeing they're sort of really playing at a much
[14:19] Speaker 7: smaller level in terms of the overall market in China.
[14:23] Speaker 2: But given as I understand that the China aviation market
[14:26] Speaker 2: continues to be a serious growth mode. Can airbus fulfill
[14:32] Speaker 2: that growth, support that growth or does China at some
[14:35] Speaker 2: point need Boeing.
[14:37] Speaker 7: But China definitely needs Boeing. I mean the Chinese airlines
[14:40] Speaker 7: that are looking to secure their next generation of aircraft
[14:43] Speaker 7: or replace older aircraft with more fuel efficient ones will
[14:47] Speaker 7: definitely need to order Boeing planes. And so it is
[14:51] Speaker 7: something that the Chinese airlines have expressed the need for
[14:55] Speaker 7: and it is in Boeing's interest to sort of supply
[14:57] Speaker 7: those aircraft. So, especially at a time when jet fuel
[15:00] Speaker 7: prices are rising, like fuel efficient aircraft that's really valuable.
[15:04] Speaker 7: And so for the seven three seven Max. This is
[15:07] Speaker 7: an important market both for the Chinese carriers as well
[15:10] Speaker 7: as for Boeing.
[15:11] Speaker 2: So let's just say it's even at this read lower
[15:14] Speaker 2: than expected number of two hundred aircraft, that would still
[15:16] Speaker 2: be the Would that be the first real order from
[15:19] Speaker 2: China in almost a decade.
[15:21] Speaker 4: It will be.
[15:21] Speaker 7: It will be the first major order by China in
[15:24] Speaker 7: over in almost a decade if this order materialized, even
[15:27] Speaker 7: if it's just for two hundred planes. And then Trump
[15:30] Speaker 7: on his way back talked about the possibility of up
[15:34] Speaker 7: to seven hundred and fifty planes, and so again specifics
[15:37] Speaker 7: aren't clear, and it's not really clear what the order
[15:41] Speaker 7: entails because Trump said that it depends on whether Boeing
[15:45] Speaker 7: is able to fulfill the two hundred plane order, and
[15:47] Speaker 7: then they would order another seven and up to six
[15:49] Speaker 7: seven and fifty aircraft. So details are sort of murky
[15:53] Speaker 7: at the moment, but it could be a sign that
[15:56] Speaker 7: there may be a tow towards ordering those Boeing planes
[16:00] Speaker 7: from China before.
[16:01] Speaker 2: I mean, I guess without the help of the executive
[16:05] Speaker 2: branch whoever that may be in office, what can Boeing.
[16:09] Speaker 2: It looks like Boeing doesn't have much influence or ability
[16:12] Speaker 2: to shape the conversation with the Chinese because again, as
[16:15] Speaker 2: you mentioned, they have gone almost ten years without a sale.
[16:19] Speaker 7: Yes, so China, especially for its state owned airlines, tends
[16:22] Speaker 7: to order planes in bulk, and so whether that's from Airbus,
[16:26] Speaker 7: whether that's from Boeing, and so those big orders from
[16:29] Speaker 7: the Chinese carriers depend on government to government relations, and
[16:34] Speaker 7: Boeing has featured prominently in most of President Donald Trump's
[16:38] Speaker 7: negotiations around the world. I mean, remember in Qatar where
[16:42] Speaker 7: there was that massive order, the biggest order by value
[16:45] Speaker 7: for Boeing planes, and again like Boeing planes have featured
[16:50] Speaker 7: prominently in trade announcements, trade deals, and for China, getting
[16:56] Speaker 7: those Boeing planes is sort of valuable and they need
[16:59] Speaker 7: to get it done, so we do expect them to
[17:02] Speaker 7: buy it, but timing again remains unclear.
[17:06] Speaker 4: Stay with us. More from Bloomberg Intelligence coming up here
[17:09] Speaker 4: for this.
[17:12] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[17:16] Speaker 1: weekdays at ten am Eastern on Applecarclay, and Android Auto
[17:20] Speaker 1: with the Bloomberg Business App. Listen on demand wherever you
[17:23] Speaker 1: get your podcasts, or watch us live on YouTube.
[17:27] Speaker 2: The Business of Sports, let's get right down to it.
[17:29] Speaker 2: There's a ton of stuff going on. It must be
[17:31] Speaker 2: good to be Randa Williams. You a sports business reporter
[17:33] Speaker 2: for Bloomberg News. You got a bunch of them. I'm
[17:36] Speaker 2: starting right with the Mavericks. What's going off there? Sheldon Edelson,
[17:40] Speaker 2: sun in law Patrick Dumont has big plans for the team.
[17:43] Speaker 5: Yeah.
[17:43] Speaker 8: I think we all remember where we were when Luka
[17:46] Speaker 8: Doncis was traded last year on February first or second,
[17:49] Speaker 8: depending on what time zone you were in, and it
[17:51] Speaker 8: just set off an incredible sort of events for the team.
[17:56] Speaker 8: We've never seen a team go from the NBA Finals
[17:58] Speaker 8: to then lottery the next and also get the number
[18:01] Speaker 8: one pick. And so he's had to rebuild some things
[18:03] Speaker 8: in Dallas, and as part of that, he's also trying
[18:05] Speaker 8: to bring gambling there. The timeline of building a new
[18:08] Speaker 8: arena in Dallas and building this luxury resort that he
[18:11] Speaker 8: wants probably won't match up at this point in time,
[18:13] Speaker 8: but he's not going to stop trying.
[18:15] Speaker 3: And our advertisers on board with this, are the other investors,
[18:19] Speaker 3: and the team on board with this, are fans on
[18:20] Speaker 3: board with this.
[18:21] Speaker 8: I think the reality is that everybody has to move
[18:23] Speaker 8: on from it. Like there's a world where I think
[18:25] Speaker 8: that there are some Mavericks fans who are Luca fans
[18:28] Speaker 8: who now might be Laker fans because of the fact
[18:30] Speaker 8: that Luca was traded.
[18:31] Speaker 4: By Super Dude. He's the future Dame. He is.
[18:33] Speaker 8: He's an incredible player, and he was very kind to
[18:36] Speaker 8: me when I spoke to him for all the five
[18:37] Speaker 8: minutes and walking down the hallway. But I think in
[18:41] Speaker 8: terms of business value, if Doumon and the Mavericks start
[18:43] Speaker 8: winning again, I think that a good portion of fans
[18:46] Speaker 8: will forgive him because all is forgiven after winning.
[18:49] Speaker 3: You mentioned that they want to turn you know, Mavericks
[18:53] Speaker 3: to kind of like a Vegas type of situation. I
[18:55] Speaker 3: want to stay with that Vegas idea because you also
[18:58] Speaker 3: have the Las Vegas Raiders potentially selling a stake to
[19:03] Speaker 3: Egon Durbin. Who is Egon Durban.
[19:05] Speaker 8: Egon Durbin is the co CEO Silver Lake. He slowly
[19:08] Speaker 8: but surely acquired a good portion of the Raiders. It started.
[19:11] Speaker 8: I believe in December twenty twenty four he bought seven
[19:14] Speaker 8: and a half percent he can with a partner who
[19:16] Speaker 8: then acquired another seven and a half percent and gets
[19:18] Speaker 8: to fifteen. Then in March he acquired a path to
[19:21] Speaker 8: control and now he's buying out even more limited partners.
[19:24] Speaker 8: So he has a good portion of the Raiders. And
[19:26] Speaker 8: if the principal owner of the team, Mark Davis, ever
[19:29] Speaker 8: decides to sell, then Durban is in line to purchase
[19:32] Speaker 8: the remaining That hasn't happened, no, and Mark Mark Davis
[19:34] Speaker 8: has come out and said he has no plans of
[19:36] Speaker 8: that right now, but listen, if teams are passed on
[19:41] Speaker 8: at some point, and I think Durban is next in line.
[19:44] Speaker 4: Mark Davis the best haircut in the NFL.
[19:46] Speaker 2: That question asked valuation here values the Raiders at nine
[19:51] Speaker 2: point nine billion dollars.
[19:52] Speaker 4: A lot of money.
[19:53] Speaker 8: Wow, a lot of money.
[19:54] Speaker 4: It's just a great market. I mean, have you seen
[19:56] Speaker 4: marks embrace so many sports teams so quickly? No?
[20:00] Speaker 8: I mean in ten years they'll have everything. I think
[20:03] Speaker 8: if they choose to get the NBA expansion team, or
[20:05] Speaker 8: if the NBA grants them that, then they will have everything.
[20:08] Speaker 8: And of course the athletics, of course, will be there
[20:11] Speaker 8: someday hopefully.
[20:12] Speaker 2: Moving franchises is hard, like you think, or just having
[20:16] Speaker 2: franchises like that. In Florida, nobody roots for the Tampa
[20:18] Speaker 2: Bay Race because they're all from New York or Philadelphia
[20:20] Speaker 2: or whatever like that. But you go to Vegas, they
[20:23] Speaker 2: support teams that come in from other markets.
[20:25] Speaker 4: It's really interesting.
[20:26] Speaker 8: The Golden Knights have been the most successful team along
[20:29] Speaker 8: with the Las Vegas Aces, and the other teams haven't
[20:33] Speaker 8: performed well, like the Raiders haven't been good in a
[20:35] Speaker 8: very long time. But if they were, it would be
[20:38] Speaker 8: an incredible market and even be even more super charged
[20:41] Speaker 8: than they were maybe in the eighties.
[20:43] Speaker 3: Does the city have the infrastructure to support all these
[20:45] Speaker 3: teams we'll find out.
[20:47] Speaker 8: I think that Team Mobile Arena is right there, and
[20:49] Speaker 8: so if an NBA team were to be granted or
[20:52] Speaker 8: an NBA expansion group were to be granted a bid
[20:54] Speaker 8: that they could be played there, an expansion group could
[20:57] Speaker 8: offer to build another arena. And then of course the
[21:00] Speaker 8: MLB they tore down the Tropicana Hotel in order to
[21:04] Speaker 8: build the a new, a new stadium there, and so
[21:07] Speaker 8: I think that there's a possibility that I think Vegas
[21:10] Speaker 8: could become sports out But in all reality, winners win,
[21:13] Speaker 8: and if the losing teams don't don't win, then I
[21:16] Speaker 8: think that the crowds will be empty.
[21:18] Speaker 2: All right, you have another story yet, dude, you've been
[21:22] Speaker 2: very busy breath here. You've got a story out there
[21:25] Speaker 2: on the twenty twenty six World Cup. Other than John Tucker,
[21:27] Speaker 2: I'm not sure people are paying attention to it too much,
[21:29] Speaker 2: at least in this town, which we've got so much
[21:32] Speaker 2: going on here.
[21:33] Speaker 8: There's been a lot that's been made about, you know,
[21:35] Speaker 8: the New Jersey Transit, which I'm actually about to get
[21:38] Speaker 8: on and go to my life just to experience what
[21:40] Speaker 8: it's like today versus what it'll be like when when
[21:45] Speaker 8: and I think, listen, like the World Cup comes around
[21:48] Speaker 8: and it does seem like the US only cares within
[21:51] Speaker 8: fourteen days of it, and there's been a lot of
[21:53] Speaker 8: drama surrounding it. I mean, FIFA's president awarded President Trump
[21:57] Speaker 8: a peace prize, the first prize ever, and I say
[22:00] Speaker 8: things like that are a bit, in my opinion, performative.
[22:04] Speaker 8: But when it gets here, we'll see what happens. So
[22:07] Speaker 8: long as Trump does not medal in the World Cup
[22:10] Speaker 8: too much, I think it'll be fine.
[22:12] Speaker 3: And the halftime show, there's a halftime show.
[22:14] Speaker 8: Which yes, they announced earlier this week or maybe it
[22:17] Speaker 8: was late last week. It'll be Madonna, It'll be Shakira
[22:20] Speaker 8: and BTS.
[22:21] Speaker 3: So appealing to different democrats.
[22:24] Speaker 4: Madonna demo me too, okay.
[22:26] Speaker 3: Then Shakira is like millennials. And then hoping for Yes.
[22:33] Speaker 8: I'll be there just clapping and singing along and hoping
[22:36] Speaker 8: for a good match. I think, in a perfect world
[22:39] Speaker 8: for FIFA that this electrifies the European football slash soccer
[22:45] Speaker 8: fan base in the US. That's in a perfect world.
[22:48] Speaker 8: But what does what has to happen in order for that?
[22:50] Speaker 8: Is it a team USA? Run to the round of sixteen.
[22:53] Speaker 8: It I do too, but we'll see if if you know,
[22:56] Speaker 8: any of these international stars can electrify audiences the same
[22:59] Speaker 8: way the US stars across all sports do.
[23:01] Speaker 3: Here way, dumb question, but it's MESSI play.
[23:03] Speaker 4: He hasn't come out and said so yet.
[23:05] Speaker 8: It's a big elephant in the room. But there are
[23:07] Speaker 8: stars globally and I think it would be fine without him,
[23:10] Speaker 8: But also it would be a bit disappointing if he
[23:12] Speaker 8: decided like I went out on top of twenty twenty
[23:15] Speaker 8: two and.
[23:16] Speaker 4: That was it, right, Can you blame him? Yeah?
[23:18] Speaker 8: Probably not.
[23:19] Speaker 4: Yeah, all right, go over to the swamps of Jersey.
[23:21] Speaker 4: That's where it's all going to happen. Baby.
[23:23] Speaker 3: How much are you going to pay New Jersey Transit?
[23:25] Speaker 8: Ninety eight dollars. It came down from one hundred and
[23:28] Speaker 8: fifty dollars, so everybody'd be grateful.
[23:31] Speaker 1: This is the Bloomberg Intelligence podcast, available on Apple, Spotify,
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