Shoppers & Shrink, Big Tech’s Big Role in AI, & an Arm Up for IPOs 8/22/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 22 August 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Nvidia, Microsoft, Google, Amazon and Meta aren't just investing in AI internally; CNBC’s Julia Boorstin reports, big tech is also playing a key role in the AI startup ecosystem. Aneesh Chopra, CareJourney president and former White House Chief Technology Officer, discusses whether big tech is playing too big a role in the AI stack, and whether regulators will soon crack down on the burgeoning sector. Retail visionary Mickey Drexler, former J.Crew Group chairman and CEO and current Alex Mill chairman, discusses retail’s latest earnings, shrink, and the state of the consumer. Plus, Microsoft has submitted a new deal for the takeover of Activision Blizzard and chip designer Arm, which is owned by Japan’s SoftBank, has filed to go public via a Nasdaq listing. Julia Boorstin - 12:42 Aneesh Chopra - 16:03 Courtney Reagan - 24:09 Mickey Drexler - 25:05 In this episode: Aneesh Chopra, @aneeshchopra Julia Boorstin, @JBoorstin Courtney Reagan, @courtreagan Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer today on Squawk Pod.
0:08.0	The big changes that Big Tech is planning for AI, giants in the industry investing in startups,
0:15.4	Red Flag, or Good for Science.
0:17.4	Anish Chopra, the first U.S. Chief Technology Officer, joins us.
0:21.2	This is not about a few winners getting access. This is
0:24.1	tens of thousands of organizations. Large enterprises and startups that are looking
0:28.9	to incorporate what is clearly a productivity enhancing infrastructure.
0:34.0	Retail veteran Mickey Drexler, after years at the helm of J crew,
0:38.0	few know the consumer better.
0:40.0	How higher prices are impacting shoppers, or are they?
0:44.0	Customers want style, they want value, and those drive growth along with distinguished
0:52.3	personality marketing to an emotional business.
0:56.0	Plus the stalled Activision Microsoft merger may be back on.
1:00.0	Chipmaker Arm files for an IPO and subway sandwich artists. They've got competition.
1:05.9	Can you say Danny DeVito, Jersey mics?
1:08.9	It is Tuesday, August 22nd, 2023.
1:13.0	Good morning, investors.
1:14.6	Squawk Pod begins right now.
1:17.0	Stand Becky by in three, two, one, queue please.
1:22.2	Good morning morning everybody.
1:23.0	Welcome to Squackbox here on the NBC.
	...

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