AI Hedge Fund Collapses as Earnings Hit Tech Giants | Bloomberg Businessweek 7/31/2026

Watch on YouTube ↗  |  July 31, 2026 at 20:24  |  45:14  |  Bloomberg Markets
Speakers
Ed Ludlow — Co-Host, Bloomberg Technology
Kaan Terzioglu — CEO, VEON Ltd.
Hema Parmar — Hedge Fund Reporter, Bloomberg

Summary

The episode covers the collapse of AI-focused hedge fund Situational Awareness, the market reaction to big tech earnings (Amazon surged, Apple plunged), VEON's pitch as a digital growth and Ukraine reconstruction play, and the UEFA-FIFA power struggle over privatization.

  • Hedge fund Situational Awareness suffered massive losses due to highly leveraged AI bets, forcing asset sales to Citadel
  • Amazon shares surged 15% after AWS cloud growth accelerated for a fifth straight quarter, easing AI capex concerns
  • Apple dropped 9.5% after a supply chain misjudgment led to disappointing revenue guidance
  • VEON CEO pitches the company as a digital operator with 53% growth in digital services and a vehicle for Ukraine reconstruction investment
  • FIFA plans to privatize its commercial business despite UEFA and potential South American boycotts
  • S&P 500 and Nasdaq closed higher on the final trading day of July, with Amazon leading gains
Ideas
Ed Ludlow Co-Host, Bloomberg Technology 12:44
AWS growth accelerates, AI spend justified
Amazon's AWS cloud revenue growth accelerated for a fifth straight quarter, handily beating Street expectations, and the company's raised capex is now being rewarded by investors as AI spending pays off, easing concerns about returns on massive expenditures.
AMZN HIGH
Kaan Terzioglu CEO, VEON Ltd. 21:26
VEON unique play on Ukraine digital reconstruction
VEON is a digital operator in underserved markets (Ukraine, Pakistan, etc.) transforming beyond telecom into a super app with financial services, digital life, and enterprise services; digital services revenue grew 53%, total revenue up 17%, making VEON a unique investment vehicle for American investors to participate in Ukraine's reconstruction and emerging-market growth.
VEON HIGH
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This Bloomberg Markets video, published July 31, 2026, features Ed Ludlow, Kaan Terzioglu discussing AMZN, VEON. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ed Ludlow, Kaan Terzioglu  · Tickers: AMZN, VEON