The Bloomberg Businessweek Daily podcast covered several key topics, starting with Apple’s recent Worldwide Developers Conference where the company introduced a revamped Siri AI as a standalone app with a chatbot-style interface. While the update showcased useful interoperability across Apple devices and integration with Google’s Gemini AI models, investors reacted lukewarmly, reflecting a “sell the news” sentiment since much of the technology was already anticipated. The new Mac OS 27, named Golden Gate, focused on performance improvements like significantly faster AirDrop, emphasizing practical enhancements over groundbreaking innovations.
The discussion then shifted to the real estate implications of AI and data centers with Barry D. Romano, CEO of Steelwave. Romano highlighted that while his firm has limited exposure to data centers themselves, the real demand comes from downstream users—startups and companies leveraging AI technologies. He noted a resurgence in office leasing in select markets despite broader challenges, with significant opportunities in high-quality office spaces and advanced manufacturing facilities, particularly in Southern California’s defense tech sector. Romano also commented on California’s business environment, acknowledging its challenges but emphasizing its enduring role as a tech hub.
Energy needs and the role of nuclear power in supporting data centers were explored through an interview with James Walker, CEO of Nanuclear Energy, and Bloomberg’s energy reporter Will Wade. Walker outlined his company’s progress toward building commercial small modular reactors (SMRs) by 2030, positioning nuclear power as essential for providing reliable, base-load energy to power-hungry data centers. The conversation underscored the tech industry’s investments in nuclear energy to mitigate grid infrastructure challenges and ensure consistent power supply, despite some uncertainties about future energy demand and regulatory hurdles.
Katherine Thompson, CEO of Thompson Research Group, provided insights into the construction boom driven by data center development and broader industrial needs in the U.S. She emphasized that the country is entering a “golden era” of construction, with large-scale projects like data centers creating long-term jobs and infrastructure demands, including power grid upgrades and transportation access. Thompson noted that while some local opposition to data centers exists, the trend toward regionalized development continues, supported by a mix of large and smaller projects across urban and rural areas, with implications for national security and economic growth.
Finally, the podcast touched on investment opportunities in basic construction materials and infrastructure, highlighting companies involved in steel, concrete, and crushed rock production essential for building data centers, highways, and power plants. Despite the sector’s strong fundamentals, stock performance has been mixed due to uncertainties around federal infrastructure funding and market optics. Thompson pointed out that many construction and materials firms remain privately held, with long histories and stable operations, suggesting that investors should consider both public and private opportunities amid the ongoing industrial expansion fueled by AI and energy infrastructure demands.
