Bloomberg Businessweek

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Oracle Corp. is moving to shield itself from racking up expenses on a massive data center being built in New Mexico, adding a fresh wrinkle to a project beset by opposition and regulatory setbacks.
The technology giant sent the project’s developer, a unit of Blue Owl Capital Inc., a notice citing force majeure, according to people familiar with the situation. Rather than trying to walk away as the site’s main tenant, Oracle is attempting to put off payments should the data center dubbed Project Jupiter get derailed and fail to come online in 2028 as planned, the people said, asking not to be identified discussing private matters. Companies typically invoke force majeure to free themselves from contractual obligations when problems arise beyond their control. In this case, Oracle is seeking to assert its contractual position if the build-out is delayed.

For a closer look, we speak with Anurag Rana, Senior Tech Analyst for Bloomberg Intelligence.
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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

Presidents Donald Trump and Xi Jinping addressed their intense competition over artificial intelligence on Thursday during a summit aimed at keeping ties between the world’s largest economies on track. How the leaders are handling AI is one of the key questions looming over the state visit, with the US president arguing for unfettered development to keep his nation’s edge. China, meanwhile, has criticized American export controls on semiconductors and other inputs that it argues constrains its companies. By contrast, China’s top leader indicated some openness to setting boundaries.

On today's episode:
Michael Shepard, Bloomberg News Senior Editor for Technology & Strategic Industries
NATO Secretary-General Mark Rutte
Dina Esfandiary, Middle East Geoeconomics Lead for Bloomberg Economics
Eric Muhlheim, Mozilla CFO & Nina Trentmann, Bloomberg News CFO Briefing Editor
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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

Jeffrey Cole and Harlan Lebo of USC Annenberg's Center for the Digital Future join to discuss their book Disrupters at the Gate and why transformative change often comes from unexpected outsiders. They explore how AI, digital technology, and shifting consumer behavior can upend even the world’s most dominant companies.
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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

President Donald Trump welcomes China's Xi Jinping to Washington today for a state visit that looks more focused on pageantry than policy, with low expectations for breakthroughs on long-standing feuds. The summit will bring together a robust gathering of US corporate leaders, but no comparable delegation from China, raising questions about the prospects of even any new business. One area Trump and Xi may find common ground is AI safety. While Silicon Valley debates the possibility of the technology wiping out humanity, Washington and Beijing have signaled no intention to slow down development. Meanwhile, energy risks and related inflationary impacts tied to conflict in the Middle East continue to weigh on global economies.

On today's episode:
Heidi Crebo-Rediker, Senior Fellow for Geoeconomics at the Council on Foreign Relations
Spanish Prime Minister Pedro Sanchez
Kyle Stock, Bloomberg News Senior Correspondent
Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech
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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

Anthony Scaramucci, Founder & Managing Partner at Skybridge Capital & former White House Communications Director, discusses his new book All the Wrong Moves, which argues that major bipartisan policy decisions on China trade, the Iraq War and the 2008 financial crisis helped create the economic and political conditions behind Donald Trump’s rise to power.
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