Amazon said it plans to spend billions more than expected on data centers, chips and other equipment, fueling investor concerns that the company’s massive bet on artificial intelligence will take longer to pay off than anticipated.The company reported $39.5 billion on property and equipment expenses in the fourth quarter, topping estimates by almost $5 billion, and said its capital expenditures would reach $200 billion this year. Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure Poonam Goyal and James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capita

Amazon said it plans to spend billions more than expected on data centers, chips and other equipment, fueling investor concerns that the company&rsquo;s massive bet on artificial intelligence will take longer to pay off than anticipated.The company reported $39.5 billion on property and equipment expenses in the fourth quarter, topping estimates by almost $5 billion, and said its capital expenditures would reach $200 billion this year. Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure Poonam Goyal and James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capita

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Instant Reaction: Amazon Boosts Spending Far Ahead of Estimates

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The people, companies and trends shaping the global economy.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bitcoin tumbled below $63,000 as the unwinding of leveraged bets and broader market turbulence deepened a selloff that has wiped out all of the gains since President Donald Trump’s election set off a speculative rush into cryptocurrencies. 

The token fell as much as 14% Thursday to $62,267, the lowest since October 2024. The rout has erased half of Bitcoin’s value since it reached a record four months ago and has spread to other tokens, related ETFs and companies like Strategy Inc. that hold vast sums of coins.

The downturn has marked an abrupt retreat from Bitcoin’s meteoric rise through much of last year, when the return of the crypto-friendly Republican to the White House sent investors piling into such tokens and the Wall Street vehicles that have sprouted up around them. The market started cracking this month as rising geopolitical tensions sent tremors across global financial markets and curbed risk taking. That sparked Bitcoin’s precipitous decline from mid-January and set off a self-reinforcing cycle of selling as funds liquidated assets to meet redemptions and unwind leveraged bets.

The slide has echoes of the one in 2022, when prices retreated sharply from the surge seen during the easy-money era of the pandemic as the Federal Reserve tightened monetary policy. It has already taken a toll on intermediaries like the exchanges Coinbase Global Inc., whose shares have tumbled more than 30% this year, and Gemini Space Station Inc., which said it plans to cut up to 25% of its workforce and wind down operations in the UK, European Union and Australia.

Today's show features:
Paul Krugman, Nobel Prize Winning Economist and Research Professor at the City University of New York’s Graduate Center, on his latest Substack column about the dive in the price of Bitcoin and broader market for cryptocurrencies
Jurrien Timmer, Director of Global Macro at Fidelity Investments, on the investing landscape and on whether the recent market downturn is a sign of what’s to come.
Bloomberg Opinion Senior Executive Editor Tim O’Brien on his column examining the potential national security risks of the United Arab Emirates seeking deeper access to advanced American semiconductors
James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capital, on quarterly earnings from Amazon

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.
Bitcoin tumbled below $63,000 as the unwinding of leveraged bets and broader market turbulence deepened a selloff that has wiped out all of the gains since President Donald Trump&rsquo;s election set off a speculative rush into cryptocurrencies.&nbsp;
The token fell as much as 14% Thursday to $62,267, the lowest since October 2024. The rout has erased half of Bitcoin&rsquo;s value since it reached a record four months ago and has spread to other tokens, related ETFs and companies like Strategy Inc. that hold vast sums of coins.
The downturn has marked an abrupt retreat from Bitcoin&rsquo;s meteoric rise through much of last year, when the return of the crypto-friendly Republican to the White House sent investors piling into such tokens and the Wall Street vehicles that have sprouted up around them. The market started cracking this month as rising geopolitical tensions sent tremors across global financial markets and curbed risk taking. That sparked Bitcoin&rsquo;s precipitous decline from mid-January and set off a self-reinforcing cycle of selling as funds liquidated assets to meet redemptions and unwind leveraged bets.
The slide has echoes of the one in 2022, when prices retreated sharply from the surge seen during the easy-money era of the pandemic as the Federal Reserve tightened monetary policy. It has already taken a toll on intermediaries like the exchanges Coinbase Global Inc., whose shares have tumbled more than 30% this year, and Gemini Space Station Inc., which said it plans to cut up to 25% of its workforce and wind down operations in the UK, European Union and Australia.
Today's show features:
<ul>
<li>Paul Krugman, Nobel Prize Winning Economist and Research Professor at the City University of New York&rsquo;s Graduate Center, on his latest Substack column about the dive in the price of Bitcoin and broader market for cryptocurrencies</li>
<li>Jurrien Timmer, Director of Global Macro at Fidelity Investments, on the investing landscape and on whether the recent market downturn is a sign of what&rsquo;s to come.</li>
<li>Bloomberg Opinion Senior Executive Editor Tim O&rsquo;Brien on his column examining the potential national security risks of the United Arab Emirates seeking deeper access to advanced American semiconductors</li>
<li>James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capital, on quarterly earnings from Amazon</li>
</ul>

Bitcoin Drops Below $63,000, Wiping Out Gain Since Trump’s Win

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Jenny Rooke, Ph.D., is the founder and Managing Director of Genoa Ventures. She leverages her unique toolkit of genetics domain expertise, strategic business acumen, and venture investing to launch and empower the next generation of category-defying companies at the convergence of technology and biology. Dr. Rooke has nearly two decades of investing experience, beginning at Fidelity Biosciences in 2006 as a Kauffman Fellow.

Coming off the annual JPMorgan Healthcare Conference in January, Dr. Rooke says she's encouraged by new scientific tools in development as well as the broader tailwinds for the biotech sector. She discusses her takeaways from the conference and the importance of emerging specialties in so-called “precision medicine” with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Jenny Rooke, Ph.D., is the founder and Managing Director of Genoa Ventures. She leverages her unique toolkit of genetics domain expertise, strategic business acumen, and venture investing to launch and empower the next generation of category-defying companies at the convergence of technology and biology. Dr. Rooke has nearly two decades of investing experience, beginning at Fidelity Biosciences in 2006 as a Kauffman Fellow.
Coming off the annual JPMorgan Healthcare Conference in January, Dr. Rooke says she's encouraged by new scientific tools in development as well as the broader tailwinds for the biotech sector. She discusses her takeaways from the conference and the importance of emerging specialties in so-called &ldquo;precision medicine&rdquo; with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

The Next Biotech Breakthrough

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d5335a8c-c2ce-4d22-b750-b3e70171165c/transcript

The people, companies and trends shaping the global economy.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Alphabet Inc. shares slipped after the company reported fourth-quarter revenue that beat expectations but said it plans to spend far more than investors expected in 2026.

The Google parent said it will spend $175 billion to $185 billion this year, compared with the $119.5 billion analysts expected. The company’s fourth-quarter sales, excluding partner payouts, were $97.23 billion, surpassing the $95.2 billion expected on average by analysts, according to data compiled by Bloomberg.

Chief Executive Officer Sundar Pichai said the investments are paying off. “We’re seeing our AI investments and infrastructure drive revenue and growth across the board,” he said Wednesday in the statement. “Search saw more usage than ever before, with AI continuing to drive an expansionary moment.” Google Cloud revenue was $17.7 billion, beating the $16.2 billion analysts expected.

Google has raced to reinvent its business for the AI age, working to keep consumers in the habit of going to its search page even when they could also go to chatbots from rivals like OpenAI. The company has quickly improved its Gemini model and integrated it throughout its products — an effort that has required massive investment in data centers and chips for model improvement and cloud customers.

The industry has leaned on Google’s progress. Google is supplying up to one million of its specialized AI chips to Anthropic, cementing Google’s position as a key infrastructure provider in the AI space. Gemini will also be a provider of AI for Siri on Apple Inc.’s iPhones. The Gemini app has 750 million monthly active users.

Today's show features:
Bloomberg Intelligence Senior Global Head of Technology Research Mandeep Singh and reacts to quarterly earnings from Alphabet
Dan Ives, Global Head of Technology Research at Wedbush Securities, on Alphabet earnings and why he sees the world's biggest software companies weathering the storm brought on by artificial intelligence
Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch on Wednesday’s call between President Donald Trump and China’s Xi Jinping, and strained talks between the US and Iran
Axel Merk, President and Chief Investment Officer of Merk Investments, on the precious metals trade and the potential market impact of a Kevin Warsh-led Federal Reserve

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.
Alphabet Inc. shares slipped after the company reported fourth-quarter revenue that beat expectations but said it plans to spend far more than investors expected in 2026.
The Google parent said it will spend $175 billion to $185 billion this year, compared with the $119.5 billion analysts expected. The company&rsquo;s fourth-quarter sales, excluding partner payouts, were $97.23 billion, surpassing the $95.2 billion expected on average by analysts, according to data compiled by Bloomberg.
Chief Executive Officer Sundar Pichai said the investments are paying off. &ldquo;We&rsquo;re seeing our AI investments and infrastructure drive revenue and growth across the board,&rdquo; he said Wednesday in the statement. &ldquo;Search saw more usage than ever before, with AI continuing to drive an expansionary moment.&rdquo; Google Cloud revenue was $17.7 billion, beating the $16.2 billion analysts expected.
Google has raced to reinvent its business for the AI age, working to keep consumers in the habit of going to its search page even when they could also go to chatbots from rivals like OpenAI. The company has quickly improved its Gemini model and integrated it throughout its products &mdash; an effort that has required massive investment in data centers and chips for model improvement and cloud customers.
The industry has leaned on Google&rsquo;s progress. Google is supplying up to one million of its specialized AI chips to Anthropic, cementing Google&rsquo;s position as a key infrastructure provider in the AI space. Gemini will also be a provider of AI for Siri on Apple Inc.&rsquo;s iPhones. The Gemini app has 750 million monthly active users. Today's show features:
<ul>
<li>Bloomberg Intelligence Senior Global Head of Technology Research Mandeep Singh and reacts to quarterly earnings from Alphabet</li>
<li>Dan Ives, Global Head of Technology Research at Wedbush Securities, on Alphabet earnings and why he sees the world's biggest software companies weathering the storm brought on by artificial intelligence</li>
<li>Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch on Wednesday&rsquo;s call between President Donald Trump and China&rsquo;s Xi Jinping, and strained talks between the US and Iran</li>
<li>Axel Merk, President and Chief Investment Officer of Merk Investments, on the precious metals trade and the potential market impact of a Kevin Warsh-led Federal Reserve</li>
</ul>

Alphabet to Blow Past Investor Expectations for AI Spending

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Instant Reaction: Amazon Boosts Spending Far Ahead of Estimates

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