Latest news with #BloombergOriginals
Bloomberg
24-06-2025
- Business
- Bloomberg
What Blackjack Can Teach You About Wall Street
Boaz Weinstein is among those hedge fund managers who use card games to sharpen their abilities. At the tables, he walks the tricky territory between luck and skill—often with big money on the line. Sound familiar? Only Weinstein, 52, takes it a step further. While casinos frown on the perfectly legal skill of card counting, Weinstein shows how the ability to master this incredibly difficult tactic can be an object lesson in finance: To succeed, you need to know the extent of your advantage. On this episode of Bullish with Sonali Basak, he takes Bloomberg Originals to Bally's Atlantic City to show us how it's done—and in doing so, gives a masterclass on why the trading floor and the casino floor aren't all that different.
Indian Express
16-06-2025
- Business
- Indian Express
‘It's coming': OpenAI CEO Sam Altman says humanoid robots may disrupt jobs soon
OpenAI CEO Sam Altman has said that AI is bound to change a lot of jobs, meaning that it will take some jobs away but also 'create a bunch of new ones.' 'If you look at the history of the world, technological-driven job change, when one class of jobs goes away and another one pops up, that's very consistent, it's punctuated. But that's just been happening for a long time. And the thing that is different this time is just the rate with which it looks like it will happen,' Altman said. He made these remarks in an appearance on 'The Circuit with Emily Chang', a programme on Bloomberg Originals, where the pair discussed the unprecedented demand for AI compute and the conceptualisation of the $500 billion-dollar Stargate project. Beyond the wide-ranging impact of AI on jobs, Altman also warned about breakthroughs in humanoid robot development. 'I don't think the world has really had the humanoid robots moment yet, and I don't think that's very far away […] What happens when the humanoid robots get here? I mean, obviously do a lot of jobs,' he said. Altman also highlighted the acceleration of scientific research and discovery as one of the most exciting possibilities he sees with AI. 'I think 2025 will be a world where we have agents do a lot of work, things we already know how to do. I'm hopeful that 2026 will be a big year of new scientific progress,' he said. The AI industry leader was also careful not to give the impression that he knows exactly what the future holds. 'Do I think I could have sat here in 1905 and told you what we were about to discover in physics, and that 40 years later we would, like, have an atomic bomb? Definitely not,' he told Bloomberg's Emily Chang. Here are a few other highlights from the nearly 20 minute-long interview. At the beginning of the year, US President Donald Trump announced what might be the most ambitious infrastructure project in the country's history since NASA's first missions to the moon. This initiative known as the Stargate Project is actually a joint venture among OpenAI, Microsoft, Nvidia, Arm, Oracle, Softbank, and other corporate partners aiming to invest $500 billion to build out AI infrastructure such as data centers, energy plants, power lines, and more in the US over the next four years. The first data centre under the project is already under construction in Texas and will be dedicated to training OpenAI's next AI models. In the Bloomberg interview, Altman revealed 'Stargate' started out as an internal codename based on the early layouts of the data centres. He described the project as 'a complex supply chain with a lot of partners and obviously a lot of capital.' 'We used to think a lot about the compute we would need to train the models. And what we didn't used to think about was how much people were going to use these models. It just turned out people want to use the models much more than we imagined,' he said while talking about how the $500 billion infrastructure project was conceptualised. When asked about the need for more compute and infrastructure, Altman pointed to the surge in inference demand sparked by the recent trend of AI-generated Ghibli-style images. 'Making an image is not a low compute task. We had to do a lot of very unnatural things. We had to borrow compute capacity from research. We had to slow down some other features because it's not like we have hundreds of thousands of GPUs sitting around just spinning idly,' he said. 'But if we had more GPUs, we would be more able to handle demand surges like this and we wouldn't have to put such restrictions on other features,' Altman added. When asked why OpenAI couldn't get the required compute from its biggest investor, Microsoft, Altman said, 'We do get a lot of great stuff from Microsoft but I think this is more than any one company can deliver. Microsoft will do a lot of compute for us. I'm very happy about that.' In response to a question about DeepSeek's breakthrough in developing cost-efficient LLMs, Altman said, 'I think the DeepSeek team is very talented and did a lot of good things. I don't think they figured out something way more efficient than what we figured out.' OpenAI has previously alleged that DeepSeek may have ripped off its technology to develop its AI models through a process called distillation. Altman further emphasised that the company continues to make strides in terms of efficiency. 'We will have better chips. We will have better energy sources. We'll have better algorithms. We will optimise,' he said. On whether OpenAI could become a financially viable company, Altman said, 'We are definitely doing something unprecedented. But, it doesn't mean something can't go wrong.' He also acknowledged that the ChatGPT-maker would be in a difficult financial position if users stopped paying for AI services. He identified access to the best infrastructure layer and best top of the stack as OpenAI's biggest advantages over its competitors. On what Trump's re-election as US president means for the AI industry, Altman said that he was optimistic. 'I think he [Trump] will get to make some of the most important decisions anyone in the world has gotten to make related to AI […] One thing that's really impressed me about President Trump is his ability to understand the whole industry and all the changes so quickly.'
Mint
30-05-2025
- Business
- Mint
The Billion-Dollar Battle to Own 7-Eleven
Bloomberg Published 30 May 2025, 08:57 AM IST (Bloomberg) -- 7-Eleven convenience stores perfected their model in Japan, where diverse, fresh-food offerings attract locals and tourists alike. But the company, which had its start long ago in the US, has struggled to replicate that success elsewhere—particularly in the country where it was born. Now a new player believes it can do a better job at creating a global convenience store empire. Canadian company Couche-Tard, owner of Circle K stores, has made an unsolicited bid to buy Seven & i Holdings, the parent of 7-Eleven. On the Bloomberg Originals mini-documentary Why There's a Battle to Own 7-Eleven, we discuss how the famous chain had its start and why its Japanese locations are so different from those in the US. The proposed deal for the convenience store chain would be the biggest foreign takeover of a Japanese company in history. But residual resistance to foreign corporations, and 7-Eleven's place in modern Japanese culture, could make the deal a hard sell. Still, while Seven & i has been slow to engage with Couche-Tard, it recently signed a non-disclosure agreement to share financial data. In Why There's a Battle to Own 7-Eleven, we show how a complicated dance of shipping and supply enable Japanese 7-Eleven stores to stock fresh food in a way that isn't the case in the US. And while American 7-Eleven stores have been trying to up their game, that country's geography and different ownership structures may mean stores there—and elsewhere—will have a hard time emulating the Japanese model. To see more Bloomberg Originals video documentaries, click the latest videos from Bloomberg Originals here. More stories like this are available on
Bloomberg
12-05-2025
- Business
- Bloomberg
The Circuit Season 3 Trailer
The Circuit returns for Season 3. Emily Chang travels to the heart of tech and business, speaking with the biggest names to find out what drives them. Stream it on Bloomberg Originals on Thursdays starting May 22. (Source: Bloomberg)
Bloomberg
17-04-2025
- Business
- Bloomberg
Why Australia's Miracle Economy Is Stalling
Australia has long been known for its prosperous economy, with many calling it 'The Lucky Country.' But that luck may be running out. While the nation's overall economy isn't in recession, its people have been weathering a perfect storm of financial headwinds that do not bode well for its future. Australia's gross domestic product-per capita fell for 21 months in a row and household disposable income is on the downslope. Household debt meanwhile is headed up as real wages have largely stagnated. Indeed, inflation has been rising and the cost of buying a home—if you can find one to purchase—is among the highest in the world. In the weekly documentary How Australia's Luck Ran Out, Bloomberg Originals shows how the country's economy managed to dodge the worst the 21st century has to offer—and why it may no longer be able to get out of the way.
