Coming on it hundred 12 million less than the 859 million estimate by analysts. The senate has confirmed Jeff Sessions as attorney general after more than a day of contentious debates. Democrats at the alabama senator was too close to President Trump and would not protect voting and several rights. Global news. 24 hours a day. Powered by more than 2600 journalists and analysts in more than 120 countries. Lets not get a check of the markets. Hang seng index up. 04 . Coming up, intel places at 7 billion chip. Why the president ial bid in arizona is not as fresh as it may seem. Plus, apple hits refresh on its television dreams as the tech giant poaches the head of amazon fire tv. And akamai takes a tumble despite solid Revenue Growth. Why investors are looking beyond the latest earnings reports. First, intel says it will spend 7 billion on a Production Facility in arizona. The announcement came amid a meeting between the intel ceo and President Trump at the white house. It will expand intels presence in arizona and will create 3000 jobs. Yet, the investment was included in its Capital Spending forecast. And construction had already started. So, why the announcement now . Bloomberg editor at large cory johnson caught up with stacy smith and asked him why the companys focused on building in the u. S. If you think about our footprint as a company. To put us in perspective, we tend to be among one, two or three in terms of capital and ing every year, terms of r d every year, so we are huge. The majority of that investment is in the u. S. The majority of it is here in the u. S. The reasons we invest in the u. S. Is first and foremost, we can hire great people here. We have really good infrastructure. We have access to worldwide markets. While we build our capacity in the u. S. , 80 of our sales are outside the u. S. So that is really important. We do all that against a disincentive of the u. S. Has among the highest tax rates in the world. And so, were actually disadvantaged relative to our competitors in korea or taiwan. And that is a place where we are working closely with the administration to try to get more proinvestment policy, such that it makes more sense for us to continue to make these kinds of investments here. Cory is 8 billion about the price tag on the top of the line plant . Yeah, we are starting with a shell. We have some work to do and then to outfit it and get it into full production is another 7 billion. If we were starting from just a piece of land, youre probably in excess of 10 billion to build one of these factories. Cory the time horizon i visited a factory in hillsboro. It was two years ago. It is jawdropping. I wonder in terms of the time that it takes. You have to shell, but if he were to start with vacant land to complete this kind of fab how long does it take . It is kind of from start to finish, depending on where you are it is 34 years. It can be more than four years. To put it in perspective, in addition to the direct employment we are creating for intel, these are among the largest Construction Projects on the planet. As you said, this one already has a shell. We will still have 3000 construction employees getting this thing ready to production. They are just enormous. And the impact they have on communities is also enormous. Cory it strikes me there is irony, perhaps. Here you have intel where andy grove, himself a refugee and a founder of intel, and at the same time the Federal District court in the bay area is debating this immigration ban. And then you have brian, your ceo, at the white house today with President Trump. And i wonder what is intels, how much does intel need immigrant labor or even labor for refugees around the world . How important is it at intel historically and how important is it today . It is very important for us to be able to hire the best talent all around the world. R and d that we use, we are d that we use, we are solving them of the most most complex problems on the planet. To put this in perspective, intel is not political. We engage with democratic and republican administrations. Depending on the issue, in some places we agree. Here we are in agreement over what they are trying to do around the tax and investment policy. And other places, we disagree. Issues around immigration and being able to hire the best talent. We made that clear to the administration. So, we engage on issues, not necessarily down political life. Political lines. Our issues are investment, being able to hire the best talent, being able to build and the u. S. And export around the world and make the kinds of investments that make is a great company. Cory talking about intels use of h1b visas. And how important that is to you. Could that be simpler than it has been in the past . It comes back to that simple concept of we need to be able to hire the best talent in the world. As you know, in many cases, the phds, you have people that come in from overseas to get phds in math and science. And those of the people that make intel a great company. What we would like to see in the h1b space is a higher proportion of those visas are being used for the most high skilled, technical people. It is one of the places that i know that brian is engaging to make our point of view known. Caroline joining us now is David Kirkpatrick. Hes at our show in new york. And our editor at large cory johnson. The cory johnson that was just there with stacy smith. Is he being disingenuous here . Cory he didnt say anything untrue, certainly. And what they are doing is a huge deal. And the numbers that he cited in in the oval office are impressive numbers indeed. Intel is a very important employer of immigrants in the u. S. And have exploited that greatly. But i think they are exporting the desire of the president to tout things that are in the works as if they would not have happened without him. And that is sort of the case of ibm, which has been laying off workers in the u. S. Reannouncing numbers on the president elect at the time, trumpeting them. But maybe never so moreso in this case, where we have this amazing thing heard i found this picture of the president speaking in front of this building saying, wait, it was that president. Speaking of front of the same building. The factory being built behind the is an example that america is within reach, and america that attract the next generation that attracts the next generation of manufacturing jobs. Caroline 2012. Cory january 2012. The notion our last president and our current president have both looked at this facility as an example of their prowess and bringing manufacturing jobs to the u. S. Look, intel was going to do this hires. Intel is very clever to go to the white house with that announcement. But these jobs were coming one way or the other. Caroline give us your take. How does this sit with you . David i actually think intel is being opportunistic but i cannot blame them. In reality, when trump was at the press conference he said a few weeks ago, brian called me and said he had an announcement to make. If he can make his announcement standing next to the present or the president or issue a press release with some kind of poorly attended press conference in san francisco, which one is he going to do . It is a nobrainer. He got tremendous publicity out of it. He also served trumps needs. Todays Financial Times has this great headline about Prime Minister abe. Abe seeks to offer trump gifts tweetable investment pledges. The Prime Minister of japan is coming to the u. S. With things that the japanese copies are doing that trump can talk about in his tweets. Intel did the same thing. It is something that leaders are doing, and trump makes himself vulnerable to that. I think it is to the benefit of intel but it is to the benefit of trump. Cory the timing is important. Intels annual analysts day is very important to them. They are very careful about guiding analysts and explaining what they do. This event sometimes has gone many days. Tomorrow is a one day event. They needed to have this news out before analysts day, because they will talk in great deal about their capex plans. This would have been old news on friday. This is new news on saturday. In terms of the dollar amount, the resuming of the construction of the inside of this plant. The very most cuttingedge plant in the history of technology when it comes to making semi conductors. Caroline Competitive Pressure helping push the envelope by much further as well. Cory johnson and David Kirkpatrick. Thank you. Airbnbs presence in canada despite regulators looking to tighten rules. 2016 saw over 15,000 airbnb listings in toronto. This comes at a time when the Housing Affordability is a controversial issue in canada. The average price in toronto of a Single Family home is more than 1 million canadian dollars. Coming up despite upbeat , earnings, akamai took a tumble in trading. Why are investors skeptical . We will talk to the companys ceo next. This is bloomberg. Caroline akamai stocks fell more than 10 in todays trading. Some investors are skeptical about the companys decision to splurge in new areas of the business. This is despite the Fourth Quarter earnings estimates that beat estimates. Details is ar the new correspondent. Tom, thank you for joining us to discuss all of this and give us a sense, why are the analysts skeptical about the investment you are going to making, worried about the margins, but what are the new product you could be loading up for them . The investment is justified. We have proven we are prudent with our investments. You take a look at our Website Security business. In four years that has grown from near nothing to 400 million. We are up 40 year over year. Last quarter and for the year. We have our new products with image manager at bot manager. Doing very well in the marketplace. Bot manager our best new product release in many years. I think the future is very bright, i think we have proven that we can start a adjacent lines of business and be very successful with the investment. Caroline you say they will boost sales. Can you give us a timeline of exactly when you might see Significant Movement and revenue on these new product lines . I think revenue is already accelerating. You can see that in q4, up 2 points in growth over q 3. It is important to see the core of the business that grew 15 for the year. There are some of the giant Platform Companies that are doing more of their delivery themselves. They now account for less than 10 of our revenue. The future impact is limited. But the core being very strong. So i think there is reason for optimism for akamai. Caroline what about the Cloud Security area . This is a new product that is bringing in more than 400 million. Give us a sense of what sort of threats are you seeing at akamai present in the news, are there more threats or are they just perhaps more . The threats are rapidly increasing in size, scale, sophistication. There is denial of service attacks that take websites offline. There are attacks to corrupt information on websites. And attacks to steal confidential data, credit cards from transactions taking place on websites. Today we are in the web security business. As we talked about on the call, we are just beginning to get products into the Enterprise Security space, which is a much larger potential market. These are products to stop malware, to stop phishing and to stop corporate level data ex filter asian attacks. Caroline you talked about the previous customers that are doing her own networks, netflix being one of them. Can you talk about the theme of overthetop provision . How much is that playing into your business or not . I would say our overthetop business is growing at a very strong and steady clip. And i would expect that to continue. I think everyone believes there will be more and more watching over the top. We get a large fraction of that business at akamai, because of the high quality delivery we provide. So, i think that has a strong and healthy future, especially if new capabilities like 4k or v. R. Grab a foothold. Caroline can you talk, going back to some of the concerns highlighted by investors, we talked about how quickly you think the revenue will come online. Already accelerating revenue up , 7 in the Fourth Quarter. What about the margin pressure, how long to think that will exist while you use this investment cycle . I think that is in the near to medium term and it depends what investments we make this year. To be clear, it is perfectly possible for us to continue operating the business at current margins and be very healthy, but when we look towards the future, we see some very interesting opportunities for investment. And we operate the company for the longterm benefit of the shareholders. And so when we seemore than payback in the future as we look towards 2018 and the end of the decade. Caroline the akamai ceo, great to have you on today. You very mr time. Now still to come, apple hires a key executive away from amazon. What does it mean for apples tv service . Up next. This is bloomberg. Caroline some streaming news grabbing our attention. The New York Times is teaming up. New Digital Subscribers will receive free access to the Worlds Largest music streaming service. Those who buy a oneyear suscription to the times will get unlimited access to spotify which usually cost 120 a year. The arrangement is named at helping both Companies Reach broader audiences. This has been previously tried and tested by me. It was done by the british daily, the times. And good news for those in the e. U. New rules will allow subscribers of Online Streaming Services and one country to access a service while traveling to another. Videoondemand platforms like netflix and amazon prime will and those like spotify and diva will be among those mandated to be available. This is the first step to introduce a single digital market in europe. And staying with streaming media, apple has hired the former head of amazons tv. He lead the apple tvs product marking. The moves suggest that apple is renewing its focus on tv and looking for more content for their device. The move came out late yesterday. Mark, break it down for us. Its going to get a product push in terms of marketing. What does this really signify . It signifies two things. The man who one, ran apple tv, previously to this higher as Vice President of that division, he came from hulu in 2013. Hell be stepping away from Product Marketing to product management, indicating what features come on the road. And focusing almost entirely on negotiating new content deals. That is a big deal. On the other hand, Timothy Twerdahl coming from amazon will breathe new life into the apple tv product which decreased in sales yearoveryear from last holiday to this holiday. Caroline does this build anticipation to buy an apple tv or throwing out the amazon fire . Every time i am on with mark i went to ask him questions. I have chromcast. It is perfectly fine. It is good enough. I do not know what apple is going to be able to add to apple tv make it so indispensable it becomes a major part of their Product Marketing. I would be curious to ask mark, what is it that apple could do with apple tv to really make it fundamentally different from Everything Else that is a ready out there . Mark it really comes down to the content. Right now apple does not have the content deals to fill their own service. It promotes competing services from what they wanted to do from Sony Playstation as well as directv. If they can nail the content, they can own more of the experience. They like to integrate Services Software and hardware with the iphone. What if they did the same for tv and own the Hardware Software and the services . Caroline we have seen how much amazon plows in in terms of content and netflix as well. What about the content, will he go down that path . Mark apple has hinted in the past and as recently as the past Earnings Call they are trying to get more original content. They will start new this year with more video content tailored to apple music. There has not been a strong indication from the company to moving into original movies like amazon prime and netflix. Those two companies are getting so much praise from the movie industry. I know one of them got an oscar nomination. It is becoming a big deal. Will apple put down the cash to buy a movie studio, we will see. Caroline we heard from facebook that it, too, was pushing on video. They were looking to have a television app. From your viewpoint, where does the land lie when it comes to the competition and the way in which we are seeing Companies React to the overthetop david video is becoming the content that everybody wants to watch from the standpoint of consumers, and every Company Wants to offer it. It is one of the primary appeals of snapchat. I think that will drive a lot of whatever enthusiasm there is around its ipo. Obviously, time warner, at t buying time warner is a questionable deal, but there is a trendy thing that everybody wants to have video. I am not quite sure it all makes sense from a financial point of view. There is such a glut of quality video content. Excuse me, in the facebook sense, they simply have tons of business reasons of going into video. Because you can sell more expensive ads as part of video programming then you can sell against static content. That is also one of the reason video is not for everybody. It is a great repository for expensive advertising. Caroline mark, just briefly, tewhler lost amazon fire tv. Are they ok ok is amazon fine with this loss . Mark it happened at the end of 2016. They are probably fine with it. We only heard about it because he joined apple. That is why it is a big deal in the end. There are other people at amazon picking up what was lost from his departure. But the content story is really important for amazon. From the financials and business perspective, because apple has the margins. Amazon doesnt. They have chosen not to take them. Caroline a great scoop. We thank you for coming on a discussing it. Coming up, twitter is set to release Quarterly Earnings before the bell thursday. Well dig into what wall street expects. This is bloomberg. Ive spent my life planting a sizesix, nonslip shoe into that door. On this side, i want my customers to relax and enjoy themselves. But these days its phones before forks. They want wifi out here. But behind that door, i need a private connection for my business. Wifi pro from comcast business. Public wifi for your customers. Private wifi for your business. Strong and secure. Good for a door. And a network. Comcast business. Built for security. Built for business. s 1 30 p. M. In hong kong. I have an update of the top stories. Figures just released by the China Passenger Car Association show retail sales for january fell 9. 8 on the air. To 2. 1es were down million vehicles. December saw a 17 rise in sales. Intense competition in the Telecom Market squeeze profit at singtel. They reported operating profit narrowing to 456 million u. S. Dollars, down from orange and 72 million. British Prime Minister theresa may is a step closer to triggering brexit after the lower house of parliament gave approval to begin the formal process of leaving the eu. The bill was approved by 409 votes to 122. The law now goes to the house of lords for the final vote expected on march 7. The white house says President Trump has written to his chinese counterpart saying he looks forward to a constructive relationship that benefits both countries. Trump thanked the president for a congratulatory note in which a happy year of the rooster. He has yet to speak directly to the chinese leader. Global news. 24 hours a day. Powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Lets get a jacket how markets are check of how markets are trading. Sophie asian stocks on the back foot. Jump ing losses with a chinese equities listed in hong kong. There headed for a 14 month high. A rally in chinese property prices. About 4. 5 . Pack up the nikkei 225 falling. 03 . Mitsubishi heavy reveals it is now doubling the asking payment for a power station project. Toshiba sinking the most in three weeks. Next tuesday is expected to announce it thirdquarter earnings. Softbank the company saying the domestic wireless was helping pump up thirdquarter results. Were seeing a rise of 1 in the stock. We are live from london at the top of the hour. This is bloomberg. Caroline this is bloomberg technology. Im caroline hyde. Investors moving shares of twitter today. Stock closed higher ahead of the Quarterly Report out before the bell thursday. Twitter continues to focus on its video efforts. This week, we learned Ceo Jack Dorsey promoted the periscope ceo to lead of all live video on the platform. What will wall street look for in the numbers . With us, our guest host, David Kirkpatrick in new york. Also bloomberg editor at large, cory johnson. We are not expecting very much in terms of monthly active users increase. Cory heres how the business works. You get more users and advertisers, more and more users, charge advertisers. The problem is both of those things are starting to hit the skids. User growth has been weak over the last year and a half. Those numbers are pretty bad. They got a tiny bit better in the last quarter, but nothing to be thrilled about. They were able to hide that by having revenue per user increase. It is still increasing, but it is increasing at the slowest pace in the company has ever seen. I was just updating my models, getting ready for the earnings tomorrow. It really is striking the slowdown and increasing ad in the increasing ad rates. Say, look howe to good are added are, they are Getting Better and better. But advertisers are not paying more, at least at the same growing rate. Advertising revenue is getting a little better, but its only getting a little bit better. It used to be getting a lot better. That is a problem for twitter. Caroline ive got a great show in terms of where we see Revenue Growth. Looking at this chart, look how much Revenue Growth has shrunk. We are now just that 8. 2 . Meanwhile, share prices really lackluster. We are currently written starting to see a low point. Even though jack dorsey is coming back. The revenue per user has been under pressure. The advertisers are not paying for this. Do you think we will the any kind of uptick from the election that was in the previous quarter . Theres a lot of curiosity about whether or not the incredible hullabaloo about twitter usage because of the president s obsession with it could be tracking more users to the platform. Lets face it, it can be a bad it cannot you cannot be a bad thing when a company is so central to the public dialogue. As twitter has become. It is a fundamentally neutral thing. It is getting mentioned every day in almost every story. It has got to be a positive for twitter in some respects. The problem is as cory explained, the fundamentals dont look really good. I think a lot of people just keep thinking that somehow all this attention focused on the company has got to benefit its business. I dont think its out of the question. Caroline bp ig analysts upgrading the stock on the back of that. We will be digging into that later about the paradox of twitter and its loved by trump. Its really a Lesson Learned that they do not use periscope as much as they could have done. But now they have accelerated. Periscopes founder to take over. Cory the management shuffles at twitter. I cant imagine being in a place like that, that was once seen as the next great thing, but then people start to leave in droves, and theres chaos left. It has to be a tough place to work sometimes. Yes, it is central in the discussion of whats happening in the world because of the president. President trump uses it the same way i use it. Theres no editor. You are responsible for it when you get out there. You can get your information out quickly and a form you want to. And stocks, lackluster performance. The problem is as is up 8 in the same timeframe. There is still a lot of optimism built into the stock price. This is still not a cheap stock. If you look at the performance cost, and has been effectively adjusted profitability. The business costs less to run then they bring in the front door, even if it doesnt show up on the accounting rules. But thats probably going to change. They may actually see a gap profit. They have a lot of runway and a lot of cash. The problem is they dont have a lot of growth or momentum in the business. And yes, the sun is shining, but are they able to make hay when the sun shines . Traditionally that has not been the case with twitter. Maybe they will turn that around. We have not seen any signs of it yet. Caroline much to be anticipated. From our editor at large cory johnson, and David Kirkpatrick. He will be speaking with us. Shares rose wednesday after btig analysts upgraded the stocks, noting the impact of what he calls the twitter president. What are the numbers telling us after the election . President trumps use of twitter is unprecedented for a world leader. Consider his audience. His personal account has roughly 24 million followers. Compare that to neighboring leaders. Mexican president pena nieto has 6 million. Canadian Prime Minister, Justin Trudeau has less than 3 million. Barack obamas personal account has four times as many followers as trumps, but half as many actual tweets. Trump built his Campaign Around the idea of speaking frankly to people, and twitter provides the ideal platform. He tweeted more than 230 times since inauguration day, often directing the news flow in 140 characters or less from the day. Sometimes it is to share his schedule. Sometimes to discuss foreign affairs. And sometimes none of the above. But with all the added attention that the president has brought to twitter over the past few months, is the company attracting new users . Not according to calm score. They reported the mobile app users actually fell more than 6 in november from the year before, and 5 again in december to 45 million users. For context, snapchat has 82 million in the same month and facebook has twice that. Trumps spotlight on twitter has not helped, shares are flat on election day. And on the days when he tweets something particularly engaging to users, twitter is not rewarded with a bump in stock price. For example, his most popular tweet, this one from sunday, january 22. It was liked by nearly 400,000 users, but when trading resumed the next day, shares closed nearly flat. Pivotal research downgraded twitter last month, citing muted growth among Monthly Average users. So if twitter is not benefiting, who is . Perhaps democracy. A twitter analyst wrote in december, twitter is the lone platform where people worldwide can have a voice to serve as checks and balances on the media. Twitter still has a good chance to move onward and upward, but we may not see it in revenue just yet. Now a story we are watching. Pinterest now unveils what they are calling lens technology. The feature will let people access products from their smartphones. You can pull up related content in the app. The Company Also Announced other features that help users find more products that other users have already saved. Coming up, we will hear from the revolution chairman and cofounder of aol. His take on the tech environment under the president , and what our attention should really be on. This is bloomberg. H1b gets all the attention, but its the Bigger Companies that care more. At the core, we need to focus on the start of side of things, the entrepreneur side of things things like the start of these , are more important than things like h1b. Caroline an open critic of the trump administration, the aol cofounder has voiced disapproval of the ban. But earlier he discussed some of the changes we need to see in the united states, regardless of any change in policy. Take a listen. One of the reasons President Trump won is a lot of people feel left behind. They are not seeing the benefits of innovation and job creation. There is a reason that is the case. Last year, 85 of the Venture Capital went to the states that clinton won. Only 15 went to the states trump won. Over 30 states in aggregate only got 15 . California long got 50 . The Disruptive Companies in places like Silicon Valley creating new technology to destroy jobs in the middle of the country, but we are not upsetting that by backing osborne theres in the middle of the country so that they can create companies and jobs in pennsylvania and ohio and michigan. That has to change. The rise of the rest. We need more capital flowing and entrepreneurs. We need a more level playing field. So that everyone has a shot at the american dream. Caroline that was the aol cofounder. President trumps proposed immigration policy continues to make waves in the u. S. And abroad. Our reporter joins us here with David Kirkpatrick. Tell us, why is this actually fantastic . If you think about it, tim cooks job, and all the big leaders of technologies, to hide to hire the best people from around the world. If they cant get the people to come in here and work, they have to send them somewhere else. We have seen the h1b process. The visas take a long time. Apple has had people sit in other places like japan waiting for visas. They sit there and they work away and do what theyre supposed to do before they can get to cupertino and work here. If the u. S. Government will stop people from coming in, at some point they had to say, lets put more people overseas. We wont face that problem over there. One of those places will be china. I am sure of it. Apple has already set up centers there. They have them all over the world. They carefully plan for when the they carefully plan for when the staff can get into the u. S. They will say, lets put them somewhere else. Thats bad for the u. S. , because other local places will learn from these people who have been hired by are employed by u. S. Companies. But they will learn from them and work alongside them. They can take the knowledge to other companies, and that would not be good for the u. S. Caroline david, are you hearing for the company as you spoke to and the leaders that they are thinking of expanding microsoft Canadian Centers . Are you expecting talent to remain abroad . I think tim is expressing i think it is early for that kind of radical move. I think tim is expressing legitimate concerns about what could happen to the Tech Industry if these Immigration Attitudes continue to get more and more restrictive, because thats what its all about. Companies generally benefit from more open integration. Tech companies in particular. In fact, theres an article today about how the entire economys growth would be increased if we had more immigration broadly. Immigration and migration is generally believed to be an almost unmitigated positive Economic Growth everywhere. We dont want growth to slow down in china and elsewhere. Lets keep the doors open. I do think maybe readjustments of the h1b visa program could be positive for the Tech Industry. We dont really know its coming. It is easy to imagine it being negative. I also want to say, you have to credit steve case. He has been championing Tech Development in the center of the country and all over america for a long time, and he really believes in it. Hes right, we have to get entrepreneurship and job creation happening across the united states, not just on the coast. East and west. Caroline i remember one brexit occurred, i was based in berlin. Suddenly, berlin started sending trail blazers over to london. They put buses saying, come to berlin, build your entrepreneurial future. Come to us rather than stay in london. Is the same pr going to have been in taipei . Producers say it has already happened in singapore. Many Companies Want the best skilled workers from around the world to work in their countries. Taiwan says they are relaxing the rules for foreigners to go work in taiwan. Highly educated foreigners that can be founders are good engineers, and for the companies that were restricted before, they are easing that. We will see that happening around the world, even in europe. Countries know they need to attract the best talent and i will add to their economy and help them improve. Any opportunity that will be a weakness for the u. S. Is an opportunity for anywhere else. Caroline we are also watching mexicos relationship, as it falls with the u. S. , may be filled by china. A winwin situation going on for china at the moment. Great to have you here. David kirkpatrick, thank you for joining us throughout the show. Brilliant insights. Now, a developing story. Paypal antimoney Laundering Program has received subpoenas from the u. S. Department of justice. The company says they are cooperating with the doj, providing information and responses. Paypal shares dipped 2. 8 on extended trading. Coming up, Telecom Giant softbank reports fourthquarter results. We break down the numbers and discuss the massive pledge of u. S. Investment. This is bloomberg. Caroline not one, but two big tech stories coming out of asia. Softbank reports latest Quarterly Results as it works to turn around a slump. Meanwhile, Chinas Central Bank held closeddoor meetings with several exchanges. Peter hellstrom is managing editor for Asian Technology at bloomberg. Here to break it all down for us live from tokyo. First of all, lets kick off with softbank. There was some signs of a pickup with sprint, but is it enough . That is the question for investors. They have been concerned about sprint for years. The company has lost money for many quarters in a row at this point. It is struggling to compete against tmobile, not to mention at t and verizon. Those losses have been offset by a very stable and profitable japanese business. The Wireless Operations here and the Internet Business here have been quite strong. It is interesting. They had their press conference after the earnings. He wants to talk about things beyond the Quarterly Earnings. At this point, he was talking about raising about 100 billion dollars to make investments. Hes very focused on the future and what they will be able to do if they do close this fund. Caroline also, that fund is a way of perhaps willing the new president donald trump. Any inclination as to why they whether they would be able to cozy up to tmobile u. S. . Reporter thats a question also on investors minds. At this point, sprint has become the smaller company, and tmobile is bigger. Again, they tried to combine the two companies a few years ago. There has been speculation trump would be more permissive than the Obama Administration to let the deal happen. Its possible. Sprint has become so much smaller that the balance of power is quite different than it was in the past. In this press conference, he talked about the united states, trump, the aspirations to invest in the country. I remember he had his meeting with trump and december. He has spoken quite a bit about what softbank wants to do in the u. S. Caroline lets switch gears. We are hearing a lot about the president. Lets switch gears and look at bitcoin. This is a significant move we saw in terms of the price of bitcoin. It was a great piece of journalism coming out with bloomberg reporting that the exchanges of bitcoin were actually being brought in to meet with the central bank. Reporter thats right. China has become very central to the bitcoin market at this point. Its the most active trading location, also most of the miners are in china this point. They are generating most of the new currency that comes out. The attractions for bitcoin are quite a few. One, it lets you avoid any Central Authority in china. Of course, there are restrictions on how much currency can bring out of the country. So, it you can convert into bitcoin, it lets you get out of the country. There are concerns it is used for money laundering. Our reporters broke this story that leaders of the bitcoin exchanges have been called in by the central bank in china. This happened yesterday. That fueled concerns there could be additional tightening on the bitcoin market in china, which dropped the price in bitcoin dramatically yesterday. Caroline it seemed to create a backup can we will see how it continues to unfold. Peter ahlstrom in tokyo. Snap literally comes to mind in the case of the markets mistaken identity. Inventors investors sent shares of snap interactive, surging 164 since snap filed for ipo. Snap interactive makes mobile dating apps. Why they were looking a publicly Trading Company does it for me. That does it for this edition of bloomberg technology. Thursday, we are breaking down twitter. This is bloomberg. Anna a lesson from america, but still no calls. A thank you note to smooth tensions between the worlds biggest economies. Manus Fourth Quarter profit tops estimates. Plans for an ipo of the car leasing business. We sit down with the ceo. And talking about banking and business. There will be no [indiscernible] anna brexit moves ahead. Britains house of commons triggers article 50. It now heads to the house of lords