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AI Chipmaker Cerebras Climbs 68% After Year’s Biggest IPO · Bloomberg Intelligence

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Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. You're listening to the
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Speaker 2: I'm going to talk about the new issue market because
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Speaker 2: we had a big IPO this week. Cerebris, I think
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Speaker 2: is kind of how we figured out how to pronounce it.
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Speaker 3: Uh, we've said it every which way.
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Speaker 4: Yes, Bailey's advice to me yesterday I went up.
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Speaker 5: He was on TV after words, and I said, how
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Speaker 5: do you pronounce this?
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Speaker 3: Because they got to do the story. He goes, just
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Speaker 3: pronounce it both ways.
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Speaker 5: That the way they can't accuse you. You say it correctly.
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Speaker 5: As long as you say it correctly one time, that counts.
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Speaker 4: That's what I believe. Okay, Cerebras.
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Speaker 2: Anyway, they went pub with ESA one hundred and eighty
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Speaker 2: five dollars. Was the IPO price traded up to like
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Speaker 2: three over three hundred bucks? Just extraordinary trade off one
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Speaker 2: or two percent. And here this morning belly Lipshitz, he
1:03
Speaker 2: joins us. Here he covers all this IPO stuff and
1:05
Speaker 2: all the equity markets.
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Speaker 4: So bailly, if you're looking to go public, this was
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Speaker 4: a good first one to come out the door.
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Speaker 2: I mean, if you're thinking about SpaceX and Anthropic and
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Speaker 2: all those other ones.
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Speaker 5: Yeah, it really does kind of serve as a quite
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Speaker 5: large appetizer, if you will, in terms of just the
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Speaker 5: sheer size of it. Again, north of five and a
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Speaker 5: half billion dollars. I don't know if we've confirmed that
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Speaker 5: they've exercised the green show. You have to imagine that
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Speaker 5: happened almost instantaneously, So this would be the largest chip
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Speaker 5: IPO of all time here in the US. And the
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Speaker 5: big focus is again in a few weeks, what happens
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Speaker 5: with SpaceX looking to raise seventy five billion dollars and
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Speaker 5: how the marketing digest that capital, and just thinking through
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Speaker 5: how that does set the table for an Anthropic and
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Speaker 5: Open AI potentially later this year. Just given that across
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Speaker 5: those three deals, it's pretty much an entire record year
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Speaker 5: of IPO proceeds.
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Speaker 3: And there is a lot of drama surrounding this IPO
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Speaker 3: because we had reporting that showed Armholdings and Software, which
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Speaker 3: owns ARM the majority owner, wanted to buy this company.
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Speaker 3: A couple of weeks before the IPO.
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Speaker 5: Yeah, it's kind of unsurprising for all intents and purposes.
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Speaker 5: The interesting thing from that reporting from Ed Ludlow and
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Speaker 5: the team is kind of the question around the cash
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Speaker 5: and stock component and when you think about the fact
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Speaker 5: that right now, Sarah Bros. Cerebras however you want to
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Speaker 5: pronounce it is about sixty five billion dollars in market cap. Yes,
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Speaker 5: ARM is two hundred and twenty five billion dollars, but
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Speaker 5: there is an interesting kind of financial gymnastics that would
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Speaker 5: have had to be kind of accomplished to complete that deal.
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Speaker 5: In the question then going forward is just how large
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Speaker 5: would the company be?
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Speaker 3: I mean the selling point Cerebras has or crevice Sarah.
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Speaker 4: Bros Cerebras, Cerebris.
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Speaker 3: Okay, let's just say Cerebras. The benefit it has is
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Speaker 3: that it's an AI chip maker and that like you know,
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Speaker 3: hits on so many different things. Right now, is it
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Speaker 3: a competitor twin video, Yeah, that's.
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Speaker 5: How they're billowing themselves. And there's is it actually yes
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Speaker 5: in the future potentially. I Mean it goes back to
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Speaker 5: like what is a TPU and how does the market
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Speaker 5: kind of evolve over time? In the big debate when
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Speaker 5: you talk to folks on the buy side, whether they
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Speaker 5: were interested or not in Sarah Bros. In twenty twenty six,
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Speaker 5: or even back in twenty twenty four when they wanted
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Speaker 5: to go public the first time was Okay, how large
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Speaker 5: can this company be? If we say in Vidia is
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Speaker 5: worth six trillion dollars, is there a path to one
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Speaker 5: hundred billion dollars? Is there a path to two hundred
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Speaker 5: billion dollars? And just using essentially basic math is if
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Speaker 5: there is going to be a real competitor for inn
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Speaker 5: Vidia and it is Sarah Bros. Then the valuation can
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Speaker 5: make sense again based on the trailing data, based on
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Speaker 5: what they've actually attained for now it is one of
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Speaker 5: the most expensive, if not the most expensive.
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Speaker 4: I wanted to go.
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Speaker 2: I mean, we've got a sixty five billion dollar market cap,
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Speaker 2: trailing revenue five hundred million dollars. Yeah, so I mean
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Speaker 2: what are we doing here? Was there any pushback on valuation?
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Speaker 2: I'll answer that no.
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Speaker 5: No. So we saw them launch initially with a range
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Speaker 5: of like one hundred and fifteen to one hundred and
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Speaker 5: twenty five bucks, as you mentioned, at prices at one
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Speaker 5: a five. According to the people around the deal. They
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Speaker 5: had ten billion dollars of demand before it formally launched,
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Speaker 5: which is not something you see. The vision going forward though,
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Speaker 5: is open. Aye is now a customer. They're diversifying away
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Speaker 5: from G forty two, which was kind of one of
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Speaker 5: the barecases a few years ago for the company. So
4:18
Speaker 5: if you're buying into the idea that these hyperscalers are
4:21
Speaker 5: going to spend spend, spend, then investing in the companies
4:24
Speaker 5: that are actually producing the products that they're selling at
4:27
Speaker 5: least has the upside because they're not going to bear
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Speaker 5: the cost if we are over indexing and overbuilding like
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Speaker 5: many people are fearing.
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Speaker 3: Is there cornerstone investor in Cerebrus No, not.
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Speaker 2: That I in my day, we didn't do cornerstone investors.
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Speaker 4: That's the thing work. Yeah, we work for a living
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Speaker 4: real quick SpaceX. Is that a joom thing potentially?
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Speaker 3: Yeah.
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Speaker 5: We expect the formal filing to go public next week.
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Speaker 4: That would set the table. That's going to be a
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Speaker 4: lot of fun for us.
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Speaker 5: I will be on vacation starting Wednesday, so I'm getting
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Speaker 5: out of the country. But yeah, so expecting that that
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Speaker 5: formal flip next week, that'll set the stage for a
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Speaker 5: listing likely before juneteenth.
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Speaker 3: Wow, and then fifteen days after that perhaps an entry
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Speaker 3: into the Nazaq one hundred and the queues.
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Speaker 2: Oh, I see what you're saying theresive investors in I
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Speaker 2: mean talk about interesting.
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Speaker 5: It's going to be fascinating to watch. I don't know
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Speaker 5: a double or triple levered SpaceX ETF day three, there's.
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Speaker 3: Already filings for all these ETFs. Companies haven't even gone
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Speaker 3: public yet.
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Speaker 5: There's a levered Sarah Bros ETF and it's US six hours.
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Speaker 4: Ye stay with us.
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Speaker 3: More from Bloomberg Intelligence coming up after this.
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5:49
Speaker 4: We'll stuck a little technology. John Tucker was just reporting
5:52
Speaker 4: on Figma.
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Speaker 2: Let's start there, because I have no idea who this company,
5:55
Speaker 2: has never heard it before. So I'm gonna go to
5:57
Speaker 2: anaag Ran at technology analyst. He gets paid to know
6:00
Speaker 2: about this stuff for Bloomberg Intelligence. Anrach tell me about
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Speaker 2: what this company, Figma is. Why don't I know about it,
6:06
Speaker 2: but they had some pretty darn good numbers here talk
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Speaker 2: to us about Figma.
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Speaker 6: Yes, Faulse, you may remember Pigma when Adobe tied to
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Speaker 6: acquired them a few years ago. It was one of
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Speaker 6: the biggest acquisitions by Adobe. To be honest, I went
6:18
Speaker 6: and criticized Adobe for such a big acquisition when with
6:21
Speaker 6: no real revenue. But this is a phenomenal company. It
6:24
Speaker 6: does design software, so if you're designing applications, this is
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Speaker 6: place where you're going to go design the application and
6:30
Speaker 6: the workflow and then you're going to get coded with it.
6:33
Speaker 6: They came out public last year and you've seen the
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Speaker 6: stock down around let's say, eighty percent since then because again,
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Speaker 6: high growth company, right in the smack middle of being
6:42
Speaker 6: disrupted by AI models, and you know, when you had
6:45
Speaker 6: a brand new company, you know your financials are not
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Speaker 6: the best. So this has been the one that has
6:50
Speaker 6: absolutely been crushed over the last twelve months. But last
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Speaker 6: night they showed that the growth rates actually picking up.
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Speaker 6: Their AI consumption is improving, and they are not you know,
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Speaker 6: they're working closely with large language models and helping out
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Speaker 6: their customers.
7:06
Speaker 3: And I'm so glad you bring out the point that
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Speaker 3: the stock has gotten absolutely crushed because you take a
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Speaker 3: look at a one year chart. On August first, twenty
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Speaker 3: twenty five, it was trading out one hundred and twenty
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Speaker 3: two dollars, and of course yesterday or you know, prior
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Speaker 3: to this earnings release, it was trading below twenty dollars.
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Speaker 3: Now it's above twenty, but still a long way off
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Speaker 3: from those highs. Back in the summer of twenty twenty five,
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Speaker 3: you had mentioned on rog that Adobe wanted to buy
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Speaker 3: it but was stopped by regulators. Is this a takeover target?
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Speaker 3: Is it still a takeover target for anyone?
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Speaker 6: Well, Adobe would have been the right strait at that time.
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Speaker 6: And again I go back and say, when it happened,
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Speaker 6: I would really criticized Adobe for it, But I seem
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Speaker 6: now it looks like a very good design software. Now
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Speaker 6: I don't know if it can be acquired now because
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Speaker 6: you know, as I said, there was some regulatory issue
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Speaker 6: in the little market that they operate in. Figma operates in.
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Speaker 6: They actually have very high market share. They are the
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Speaker 6: predominant vendor with very little competition from any of the
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Speaker 6: bigger guys. But here the discussion was the reason why
8:08
Speaker 6: it got crushed was people said, well, why don't I
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Speaker 6: just go into a cloud or an open AI and
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Speaker 6: start designing my application over there? And these guys are saying, listen,
8:18
Speaker 6: it's not that simple. You can you know, coding, you
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Speaker 6: can do it anywhere, but designing requires a different skill set.
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Speaker 6: As I said, they have probably the best product that's
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Speaker 6: out there in that category.
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Speaker 2: Hey, Anrod to what extent is what we're seeing today
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Speaker 2: in Figma kind of emblematic of what maybe a lot
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Speaker 2: of software companies need to do, which is, hey, you've
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Speaker 2: been people have soldier stock concerned about the AI competitive threat.
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Speaker 2: The only way to get around that is just to
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Speaker 2: perform and put up good numbers. Is this kind of
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Speaker 2: a template for some of these other software companies.
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Speaker 6: Yeah, Paul, you really nailed it to the head over there.
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Speaker 6: That's exactly what needs to happen. But it was probably
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Speaker 6: a little easier for Pigma because the base of revenue
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Speaker 6: is small and even one of today signed a large
9:00
Speaker 6: client with one of the hyperscale cloud providers. So what
9:03
Speaker 6: happens is when you sign that big of a contract,
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Speaker 6: your graph rate goes up. But when you are a
9:08
Speaker 6: larger company, let's say if you're a salesport or a workday,
9:11
Speaker 6: you know one or two clients really don't do it
9:13
Speaker 6: for you. That's really a macro play. And you know,
9:16
Speaker 6: believe it or not, Macro right now in our text
9:18
Speaker 6: doing very well, but macro for non AI tech is
9:21
Speaker 6: not good. We think things are going to be tough
9:23
Speaker 6: for salesforce and workday when they report in a few weeks,
9:26
Speaker 6: because you know, if you see what's happening with deal
9:29
Speaker 6: activity being pushed up because of the war, because of
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Speaker 6: all the uncertainty around rates, I think, you know, the
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Speaker 6: large software company won't have an easy time to show
9:39
Speaker 6: a rebounding growth rates. So the real kicker has to
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Speaker 6: be that the declining growth rate needs to improve, but
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Speaker 6: it's going to be hard for the larger ones to
9:46
Speaker 6: do it.
9:48
Speaker 3: An I want to switch gears and get your take
9:50
Speaker 3: on what's going on with Apple and open Ai. They
9:53
Speaker 3: have a two year partnership, but it's starting to become free.
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Speaker 3: This is according to our reporting. Mark German of Bloomberg
9:59
Speaker 3: News reporting on this, the startup open ai is failing
10:04
Speaker 3: to see the expected benefits from the deal. And and
10:07
Speaker 3: you know there's now talk a possible legal action here too.
10:10
Speaker 3: Does this go back to the idea that Apple has
10:12
Speaker 3: had a kind of a tough road here figuring out
10:15
Speaker 3: how to deploys AI strategy.
10:18
Speaker 4: So I'll take the slightly different angle on this thing.
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Speaker 6: You know, Apple, I think did a good job at
10:22
Speaker 6: that time to tie up with open ai because open
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Speaker 6: i were the best model and it did, you know,
10:27
Speaker 6: kind of at that point for a short term change
10:29
Speaker 6: the narrative that Apple's embracing. But frankly speaking, if you
10:32
Speaker 6: look at what open Ai did, you know, they basically
10:35
Speaker 6: started a new firm where they're going to try to
10:37
Speaker 6: do a device that could compete with Apple someday. They've
10:40
Speaker 6: been poaching you know, engineers from Apple. But and frankly,
10:43
Speaker 6: you don't do that to Apple. In fact, Elon Musk
10:46
Speaker 6: also learned it the hard way. You know, a long
10:47
Speaker 6: time ago. You have to work closely with Apple. Apple
10:50
Speaker 6: went out and said, you know what, we're going to
10:52
Speaker 6: license Google model for our models. We're going to allow
10:55
Speaker 6: and Marx also report it on that same framework that
10:58
Speaker 6: when they announced their Worldwide Developers Conference on June eighth,
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Speaker 6: they will showcase that consumers can use all the models
11:05
Speaker 6: and not just OPENINGI. So I think there was a
11:08
Speaker 6: little bad blood over there because opening I wanted to,
11:10
Speaker 6: you know, compete with Apple, and you know Apple controls.
11:13
Speaker 6: I think that one of the most important distributions for consumers,
11:17
Speaker 6: and I think it's going to be very tough to
11:19
Speaker 6: work with them.
11:20
Speaker 4: A real quickly.
11:21
Speaker 2: It just kind of came across. Recently, Bill Ackman takes
11:24
Speaker 2: a stake in Microsoft stocks up a couple of percent.
11:27
Speaker 2: Here today he says, tech deeply embedded into the ecosystem.
11:33
Speaker 4: What do you make of Acman in Microsoft?
11:35
Speaker 6: Yeah, maybe it had a note from back to January
11:37
Speaker 6: when we said, you know, they're just being punished for
11:39
Speaker 6: no reason. They are being punished because they're part of
11:42
Speaker 6: the software bucket. But Microsoft is dead smack one of
11:45
Speaker 6: the most important companies as we see AI grows.
11:49
Speaker 4: Stay with us. More from Bloomberg Intelligence coming up after this.
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Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
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12:10
Speaker 4: Check a look at Boeing right here.
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Speaker 2: Boeing, as you know, the CEO Boeing went with President
12:14
Speaker 2: Trump over to China in large part looking for some business, presumably,
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Speaker 2: and I guess President Trump put out on social media
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Speaker 2: yesterday Trump said China would.
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Speaker 4: Buy two hundred quote big aircraft. I don't know.
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Speaker 2: Stock traded off about four percent yesterday, off about three
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Speaker 2: percent today, So maybe a little underwhelming. But let's check
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Speaker 2: out what's going on with Boeing and China a huge
12:34
Speaker 2: market for Boeing, of course, Sid Philip, Deputy team leader
12:37
Speaker 2: for Global Aviation Joints. This yere Sid, were you surprised
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Speaker 2: that the stock has been trading down on news that
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Speaker 2: China is going to be back buying some Boeing planes?
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Speaker 7: So on Facebook, Paul, it looks like a really good
12:49
Speaker 7: deal for Boeing, given the fact that it's a two
12:51
Speaker 7: hundred plane order. At the same time, the expectations were
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Speaker 7: much higher for this order from China, and so the
13:00
Speaker 7: expectation was that they would order five hundred and seven
13:03
Speaker 7: three seven Max jets as well as a large number
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Speaker 7: of white body jets. And unfortunately the details still aren't
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Speaker 7: clear on what the order comprises, what the aircraft types are,
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Speaker 7: what the timing of it, and both Boeing and China
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Speaker 7: have not really talked about what the order entails, and
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Speaker 7: so the market is a little underwhelmed by the order
13:26
Speaker 7: given the fact that the possibility was much larger.
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Speaker 2: So just give us a little history here about for Boeing,
13:33
Speaker 2: how big is the China market for them and how
13:36
Speaker 2: has that market evolved over the last year or two.
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Speaker 7: So for Boeing, China has a really important market. China
13:43
Speaker 7: is the world's second largest aviation market. And given the
13:46
Speaker 7: fact that Comac, which is the Chinese rival to both
13:49
Speaker 7: Airbus and Boeing, isn't really producing airplanes at such a
13:53
Speaker 7: large scale. So for Boeing this is an important market
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Speaker 7: and a market that hasn't really seen any order momentum
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Speaker 7: in the last almost a decade since when Trump was
14:03
Speaker 7: last in China. So for Boeing, this was the moment
14:06
Speaker 7: that they would get their next big break from China.
14:09
Speaker 7: Unfortunately that hasn't happened. I mean Airbus in that meantime,
14:12
Speaker 7: as it secured over seven hundred plane orders, and so
14:15
Speaker 7: for Boeing they're sort of really playing at a much
14:19
Speaker 7: smaller level in terms of the overall market in China.
14:23
Speaker 2: But given as I understand that the China aviation market
14:26
Speaker 2: continues to be a serious growth mode. Can airbus fulfill
14:32
Speaker 2: that growth, support that growth or does China at some
14:35
Speaker 2: point need Boeing.
14:37
Speaker 7: But China definitely needs Boeing. I mean the Chinese airlines
14:40
Speaker 7: that are looking to secure their next generation of aircraft
14:43
Speaker 7: or replace older aircraft with more fuel efficient ones will
14:47
Speaker 7: definitely need to order Boeing planes. And so it is
14:51
Speaker 7: something that the Chinese airlines have expressed the need for
14:55
Speaker 7: and it is in Boeing's interest to sort of supply
14:57
Speaker 7: those aircraft. So, especially at a time when jet fuel
15:00
Speaker 7: prices are rising, like fuel efficient aircraft that's really valuable.
15:04
Speaker 7: And so for the seven three seven Max. This is
15:07
Speaker 7: an important market both for the Chinese carriers as well
15:10
Speaker 7: as for Boeing.
15:11
Speaker 2: So let's just say it's even at this read lower
15:14
Speaker 2: than expected number of two hundred aircraft, that would still
15:16
Speaker 2: be the Would that be the first real order from
15:19
Speaker 2: China in almost a decade.
15:21
Speaker 4: It will be.
15:21
Speaker 7: It will be the first major order by China in
15:24
Speaker 7: over in almost a decade if this order materialized, even
15:27
Speaker 7: if it's just for two hundred planes. And then Trump
15:30
Speaker 7: on his way back talked about the possibility of up
15:34
Speaker 7: to seven hundred and fifty planes, and so again specifics
15:37
Speaker 7: aren't clear, and it's not really clear what the order
15:41
Speaker 7: entails because Trump said that it depends on whether Boeing
15:45
Speaker 7: is able to fulfill the two hundred plane order, and
15:47
Speaker 7: then they would order another seven and up to six
15:49
Speaker 7: seven and fifty aircraft. So details are sort of murky
15:53
Speaker 7: at the moment, but it could be a sign that
15:56
Speaker 7: there may be a tow towards ordering those Boeing planes
16:00
Speaker 7: from China before.
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Speaker 2: I mean, I guess without the help of the executive
16:05
Speaker 2: branch whoever that may be in office, what can Boeing.
16:09
Speaker 2: It looks like Boeing doesn't have much influence or ability
16:12
Speaker 2: to shape the conversation with the Chinese because again, as
16:15
Speaker 2: you mentioned, they have gone almost ten years without a sale.
16:19
Speaker 7: Yes, so China, especially for its state owned airlines, tends
16:22
Speaker 7: to order planes in bulk, and so whether that's from Airbus,
16:26
Speaker 7: whether that's from Boeing, and so those big orders from
16:29
Speaker 7: the Chinese carriers depend on government to government relations, and
16:34
Speaker 7: Boeing has featured prominently in most of President Donald Trump's
16:38
Speaker 7: negotiations around the world. I mean, remember in Qatar where
16:42
Speaker 7: there was that massive order, the biggest order by value
16:45
Speaker 7: for Boeing planes, and again like Boeing planes have featured
16:50
Speaker 7: prominently in trade announcements, trade deals, and for China, getting
16:56
Speaker 7: those Boeing planes is sort of valuable and they need
16:59
Speaker 7: to get it done, so we do expect them to
17:02
Speaker 7: buy it, but timing again remains unclear.
17:06
Speaker 4: Stay with us. More from Bloomberg Intelligence coming up here
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Speaker 4: for this.
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17:27
Speaker 2: The Business of Sports, let's get right down to it.
17:29
Speaker 2: There's a ton of stuff going on. It must be
17:31
Speaker 2: good to be Randa Williams. You a sports business reporter
17:33
Speaker 2: for Bloomberg News. You got a bunch of them. I'm
17:36
Speaker 2: starting right with the Mavericks. What's going off there? Sheldon Edelson,
17:40
Speaker 2: sun in law Patrick Dumont has big plans for the team.
17:43
Speaker 5: Yeah.
17:43
Speaker 8: I think we all remember where we were when Luka
17:46
Speaker 8: Doncis was traded last year on February first or second,
17:49
Speaker 8: depending on what time zone you were in, and it
17:51
Speaker 8: just set off an incredible sort of events for the team.
17:56
Speaker 8: We've never seen a team go from the NBA Finals
17:58
Speaker 8: to then lottery the next and also get the number
18:01
Speaker 8: one pick. And so he's had to rebuild some things
18:03
Speaker 8: in Dallas, and as part of that, he's also trying
18:05
Speaker 8: to bring gambling there. The timeline of building a new
18:08
Speaker 8: arena in Dallas and building this luxury resort that he
18:11
Speaker 8: wants probably won't match up at this point in time,
18:13
Speaker 8: but he's not going to stop trying.
18:15
Speaker 3: And our advertisers on board with this, are the other investors,
18:19
Speaker 3: and the team on board with this, are fans on
18:20
Speaker 3: board with this.
18:21
Speaker 8: I think the reality is that everybody has to move
18:23
Speaker 8: on from it. Like there's a world where I think
18:25
Speaker 8: that there are some Mavericks fans who are Luca fans
18:28
Speaker 8: who now might be Laker fans because of the fact
18:30
Speaker 8: that Luca was traded.
18:31
Speaker 4: By Super Dude. He's the future Dame. He is.
18:33
Speaker 8: He's an incredible player, and he was very kind to
18:36
Speaker 8: me when I spoke to him for all the five
18:37
Speaker 8: minutes and walking down the hallway. But I think in
18:41
Speaker 8: terms of business value, if Doumon and the Mavericks start
18:43
Speaker 8: winning again, I think that a good portion of fans
18:46
Speaker 8: will forgive him because all is forgiven after winning.
18:49
Speaker 3: You mentioned that they want to turn you know, Mavericks
18:53
Speaker 3: to kind of like a Vegas type of situation. I
18:55
Speaker 3: want to stay with that Vegas idea because you also
18:58
Speaker 3: have the Las Vegas Raiders potentially selling a stake to
19:03
Speaker 3: Egon Durbin. Who is Egon Durban.
19:05
Speaker 8: Egon Durbin is the co CEO Silver Lake. He slowly
19:08
Speaker 8: but surely acquired a good portion of the Raiders. It started.
19:11
Speaker 8: I believe in December twenty twenty four he bought seven
19:14
Speaker 8: and a half percent he can with a partner who
19:16
Speaker 8: then acquired another seven and a half percent and gets
19:18
Speaker 8: to fifteen. Then in March he acquired a path to
19:21
Speaker 8: control and now he's buying out even more limited partners.
19:24
Speaker 8: So he has a good portion of the Raiders. And
19:26
Speaker 8: if the principal owner of the team, Mark Davis, ever
19:29
Speaker 8: decides to sell, then Durban is in line to purchase
19:32
Speaker 8: the remaining That hasn't happened, no, and Mark Mark Davis
19:34
Speaker 8: has come out and said he has no plans of
19:36
Speaker 8: that right now, but listen, if teams are passed on
19:41
Speaker 8: at some point, and I think Durban is next in line.
19:44
Speaker 4: Mark Davis the best haircut in the NFL.
19:46
Speaker 2: That question asked valuation here values the Raiders at nine
19:51
Speaker 2: point nine billion dollars.
19:52
Speaker 4: A lot of money.
19:53
Speaker 8: Wow, a lot of money.
19:54
Speaker 4: It's just a great market. I mean, have you seen
19:56
Speaker 4: marks embrace so many sports teams so quickly? No?
20:00
Speaker 8: I mean in ten years they'll have everything. I think
20:03
Speaker 8: if they choose to get the NBA expansion team, or
20:05
Speaker 8: if the NBA grants them that, then they will have everything.
20:08
Speaker 8: And of course the athletics, of course, will be there
20:11
Speaker 8: someday hopefully.
20:12
Speaker 2: Moving franchises is hard, like you think, or just having
20:16
Speaker 2: franchises like that. In Florida, nobody roots for the Tampa
20:18
Speaker 2: Bay Race because they're all from New York or Philadelphia
20:20
Speaker 2: or whatever like that. But you go to Vegas, they
20:23
Speaker 2: support teams that come in from other markets.
20:25
Speaker 4: It's really interesting.
20:26
Speaker 8: The Golden Knights have been the most successful team along
20:29
Speaker 8: with the Las Vegas Aces, and the other teams haven't
20:33
Speaker 8: performed well, like the Raiders haven't been good in a
20:35
Speaker 8: very long time. But if they were, it would be
20:38
Speaker 8: an incredible market and even be even more super charged
20:41
Speaker 8: than they were maybe in the eighties.
20:43
Speaker 3: Does the city have the infrastructure to support all these
20:45
Speaker 3: teams we'll find out.
20:47
Speaker 8: I think that Team Mobile Arena is right there, and
20:49
Speaker 8: so if an NBA team were to be granted or
20:52
Speaker 8: an NBA expansion group were to be granted a bid
20:54
Speaker 8: that they could be played there, an expansion group could
20:57
Speaker 8: offer to build another arena. And then of course the
21:00
Speaker 8: MLB they tore down the Tropicana Hotel in order to
21:04
Speaker 8: build the a new, a new stadium there, and so
21:07
Speaker 8: I think that there's a possibility that I think Vegas
21:10
Speaker 8: could become sports out But in all reality, winners win,
21:13
Speaker 8: and if the losing teams don't don't win, then I
21:16
Speaker 8: think that the crowds will be empty.
21:18
Speaker 2: All right, you have another story yet, dude, you've been
21:22
Speaker 2: very busy breath here. You've got a story out there
21:25
Speaker 2: on the twenty twenty six World Cup. Other than John Tucker,
21:27
Speaker 2: I'm not sure people are paying attention to it too much,
21:29
Speaker 2: at least in this town, which we've got so much
21:32
Speaker 2: going on here.
21:33
Speaker 8: There's been a lot that's been made about, you know,
21:35
Speaker 8: the New Jersey Transit, which I'm actually about to get
21:38
Speaker 8: on and go to my life just to experience what
21:40
Speaker 8: it's like today versus what it'll be like when when
21:45
Speaker 8: and I think, listen, like the World Cup comes around
21:48
Speaker 8: and it does seem like the US only cares within
21:51
Speaker 8: fourteen days of it, and there's been a lot of
21:53
Speaker 8: drama surrounding it. I mean, FIFA's president awarded President Trump
21:57
Speaker 8: a peace prize, the first prize ever, and I say
22:00
Speaker 8: things like that are a bit, in my opinion, performative.
22:04
Speaker 8: But when it gets here, we'll see what happens. So
22:07
Speaker 8: long as Trump does not medal in the World Cup
22:10
Speaker 8: too much, I think it'll be fine.
22:12
Speaker 3: And the halftime show, there's a halftime show.
22:14
Speaker 8: Which yes, they announced earlier this week or maybe it
22:17
Speaker 8: was late last week. It'll be Madonna, It'll be Shakira
22:20
Speaker 8: and BTS.
22:21
Speaker 3: So appealing to different democrats.
22:24
Speaker 4: Madonna demo me too, okay.
22:26
Speaker 3: Then Shakira is like millennials. And then hoping for Yes.
22:33
Speaker 8: I'll be there just clapping and singing along and hoping
22:36
Speaker 8: for a good match. I think, in a perfect world
22:39
Speaker 8: for FIFA that this electrifies the European football slash soccer
22:45
Speaker 8: fan base in the US. That's in a perfect world.
22:48
Speaker 8: But what does what has to happen in order for that?
22:50
Speaker 8: Is it a team USA? Run to the round of sixteen.
22:53
Speaker 8: It I do too, but we'll see if if you know,
22:56
Speaker 8: any of these international stars can electrify audiences the same
22:59
Speaker 8: way the US stars across all sports do.
23:01
Speaker 3: Here way, dumb question, but it's MESSI play.
23:03
Speaker 4: He hasn't come out and said so yet.
23:05
Speaker 8: It's a big elephant in the room. But there are
23:07
Speaker 8: stars globally and I think it would be fine without him,
23:10
Speaker 8: But also it would be a bit disappointing if he
23:12
Speaker 8: decided like I went out on top of twenty twenty
23:15
Speaker 8: two and.
23:16
Speaker 4: That was it, right, Can you blame him? Yeah?
23:18
Speaker 8: Probably not.
23:19
Speaker 4: Yeah, all right, go over to the swamps of Jersey.
23:21
Speaker 4: That's where it's all going to happen. Baby.
23:23
Speaker 3: How much are you going to pay New Jersey Transit?
23:25
Speaker 8: Ninety eight dollars. It came down from one hundred and
23:28
Speaker 8: fifty dollars, so everybody'd be grateful.
23:31
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