The Bloomberg Businessweek Daily report opens with a mixed trading day on Wall Street, highlighting a significant surge in Amazon’s stock following its announcement of a $38 billion deal with OpenAI to supply computing power through Amazon Web Services. This deal involves access to hundreds of thousands of Nvidia graphics processing units, underscoring the intertwined relationships among major tech players like Amazon, OpenAI, Nvidia, Microsoft, and Google in the rapidly evolving AI and cloud computing landscape. Bloomberg Intelligence’s Mandeep Singh explains that OpenAI relies on cloud providers like Amazon for computing capacity, as direct use of Nvidia hardware is not feasible, and that the AI sector’s growth is driving substantial increases in cloud infrastructure demand.
The discussion then shifts to the U.S. Federal Reserve, where Governor Lisa Cook delivered her first public speech since President Trump attempted to remove her from the Fed Board of Governors. Cook expressed concerns that labor market weakness poses a greater risk than rising inflation, which she expects to remain elevated for the next year due to tariff effects but eventually recede. The ongoing legal battle over her removal is set to be heard by the Supreme Court in January, adding a layer of complexity to the Fed’s policy outlook amid economic uncertainties.
On the political front, the report covers the impact of the federal government shutdown on social programs, particularly the Supplemental Nutrition Assistance Program (SNAP). Governors from Wisconsin and New Mexico discuss their efforts to mitigate the effects of reduced food aid funding on their constituents, emphasizing the significant power states hold to address such issues independently of federal action. The Trump administration has agreed to partially fund SNAP benefits following court orders, but the situation remains precarious as the shutdown continues, highlighting the tension between federal inaction and state-level responses.
The Supreme Court is also set to hear a pivotal case challenging President Trump’s authority to impose tariffs under a century-old statute. The case, brought by Rick Wattenberg, owner of an educational toy business affected by tariffs on Chinese imports, could have far-reaching implications for U.S. trade policy and the administration’s use of tariffs as a negotiating tool. Legal experts suggest the court’s decision could potentially invalidate a significant portion of current tariffs, leading to substantial financial repercussions and influencing the balance of presidential power in trade matters.
Finally, the report explores emerging technologies and market movements, including the development of electric vertical takeoff and landing (eVTOL) aircraft by Archer Aviation, which aims to launch urban air mobility services in select U.S. cities by mid-2026. The CEO discusses regulatory progress, pilot certification, and plans for autonomous flight, highlighting the industry’s potential despite investor concerns over delays. Additionally, tech companies like Cisco are innovating with AI-focused infrastructure products, while Disney and YouTube face distribution disputes ahead of major election coverage. The segment underscores the dynamic interplay of technology, regulation, and market forces shaping the future of business and society.
