Arm Warns of Phone Market Weakness | Bloomberg Tech 5/7/2026
Summary
Bloomberg’s Caroline Hyde speaks with Arm CEO Rene Haas about sluggishness in the smartphone industry and growing demand from AI data centers. Plus, Anthropic signs an agreement with Elon Musk's Space
Transcript Excerpt
♪ ANNOUNCER: "BLOOMBERG TECH" IS LIVE FROM COAST TO COAST WITH CAROLINE HYDE IN NEW YORK AND ED LUDLOW IN SAN FRANCISCO. CAROLINE: COMING UP, SOME SLUGGISHNESS IN THE SMARTPHONE INDUSTRY BUT AI DENNIS UNDERGROWTH IS OFF THERE THAT THERE TO OFFSET. ANTHROPIC SIGNED AN AGREEMENT SPACEX TO ACCESS COMPUTER RESOURCES FROM ITS COMPETITOR. AND A SATELLITE SURVEILLANCE FIRM RAISES $460 MILLION IN FIVE. BUT FIRST, WE CHECK IN ON THESE MARKETS AND MANAGED TO SUSTAIN THE RALLY. A NEW RECORD HIGH, IMPORTANTLY WE ARE UP ON THE THAT IS A SIX STRING LEAK AGAINST. HAVEN'T SEEN THAT IN A COUPLE OF YEARS ON THE NASDAQ 100 FLEA OF COURSE HAVE THE CLOUT TO GEOPOLITICS AND WE'RE SOMEWHAT CONCERNED MET WITH WERE NOT STEEL BELIEVE FORWARD WITH IRAN AND THE UNITED STATES. OTHERWISE TAKING PERHAPS EVEN MORE CAUTIO…