Lawmakers in washington to take action. We will hear from the senator who spoke out first. Workplace messenger slack soaring in its trading debut. After forgoing the traditional ipo, the companys shares opened at 38. 50, 48 above. Point, climbed as high as 22 a share, more than double the last valuation on the private markets. It makes it one of the most Viable Companies to hit the markets this year, but will it be able to avoid the slump of uber, both trading below . Is a couple correspondence. Jason horowitz is an investor in and stephen, you were at microsoft for more than two decades, which is a slack competitor. Can slack fend off the big guys . Well, can microsoft fend off slack . Right now, the way the Industry Leaders have talked about slack, its generally viewed as a leader, certainly by a bunch of measures. I think theyre in a really great position. The industry is undergoing a phenomenal amount of change in terms of the way people work. People are looking for things that int
Just how high can the great firewall in china really go . But first, to our top story, the u. S. Government is increasing its scrutiny of big Tech Companies. On top of the department of justice and federal trade commission dividing oversight for possible probes into google, facebook, apple, and amazon, the house judiciary says it will spearhead its own investigation into possible antitrust practices. House lawmakers plan to hold hearings on the matter, a move endorsed by House Majority leader nancy pelosi, who had this warning. Unwarranted, concentrated power in the hands of a few is dangerous to democracy, especially when digital platforms control content. The era of selfregulation is over. Joining me to discuss is our bloomberg tech correspondent. What is the latest Development Today in all of these potential or actual investigations . The only sort of publicly confirmed new investigation is the one you mentioned coming out of congress. The doj and ftc have not even confirmed reporti
Amid heightened u. S. Iranian tensions. We have gasoline futures jumping this after an explosion and major fire at philadelphia area refinery. It is, by the way, the largest facility on the east coast. And slack soaring debut, shares poised to rally at the open but for other tech unicorns eyeing the public markets, is this a sign of peak ipo . Stocks are set to open lower after a record close for the s p. Multiple reports now say the president did approve military strikes against iran as retaliation for downing of a u. S. Drone and later backed off. S p still on pace for the best june since 1955. The nasdaq leading the major indices this month up a percent jim, how much further are people willing to go on the risk curve given the activity today i think were getting too close to the g20. I think that yesterday was a day where there was a frenzy of froth and euphoria i havent seen in a long time. A lot of stocks up 7, 8, 9 points and nothing had happened. I think were all starting to rea
Bonawyn eye sonson, karen finerman, dan nathan, and guy adami. Ceo jensen huang of nvidia speaking right now. Hes announced new partnerships and unveiled a new gpu. Shares up 5 earlier in the day, but closed up less than a percent, currently trading down by a quarter of a percent. Kristina partsinevelos joins us now with the very latest. Kristie anyway . Nvidias ceo reiterating we are just at the Tipping Point for a. I. , and all that means is that youre going to need bigger gpus. Nvidia revealing its new generation Artificial Intelligence platform. Key word platform there, to run a. I. Models. They are calling it blackwell, and it comes with the blackwell bh200 gpu, the graphics processing unit, the latest one weve been waiting to hear about. Its going to be four times the training performance of the h100. 25 times lower in energy use and 30 times the inferencing power, compared to the previous hopper architecture, or the h100 chip that weve all talked about constantly. Inferencing is
Platforms do a uturn and surrender everything it made after that magnificent quarter sell sell sell you dont want to see walmart soar and then repeal the whole move after an amazing quarter no less it is agonizing to witness amd give up a quick 25 points when the future seems so bright but sometimes you have no choice and i think this is actually one of those times we just had another bad day. Dow lost 291 points s p shed, nasdaq tumbled 1. 7 . Boy, did it get ugly at the close. What do you do at moments like this rather than trying to trade in and out, selling everything and then trying to buy it all back at lower levels, i think you need to learn how to ride out these moments. Unless stocks arent for you see, i think if youre patient i believe youll do better sticking with stocks rather than hiding out in treasuries even if they have much more generous yields than they did a year ago. So lets start way key word here, and that word is patience. Two weeks ago we had the eminent market