Name: Alphabet To Develop Their Own Server Chips | The Close 7/20/2026
Uploaded: 2026-07-20T22:24:38+00:00
Duration: 5346 s

Speakers

Brent Thill — Analyst, Jefferies

Steve Westly — Managing Partner, Westly Group

Rich Gelfond — CEO, IMAX

Kelly Ortberg — CEO, Boeing

Matt Rowe — Head of Content, Blockworks

Jessica Inskip — Director, Investor Research, StockBrokers.com

Amy Wu Silverman — Head of Derivatives Strategy, RBC Capital Markets

Katie Greifeld — Anchor, Bloomberg

Summary

Bloomberg's 'The Close' covers AI capex debates, Alphabet's custom chip efforts, Tesla's underappreciated energy division, IMAX's box-office outlook, and Boeing's production recovery. Guests provide bullish calls on Alphabet, Tesla, IMAX, and Boeing, while highlighting caution on AI spending overbuild risks and Moonshot's Chinese AI challenge.

Hyperscaler free cash flow shifts from semis to capex, raising justification questions.
Alphabet is reportedly developing a custom server chip for Gemini, reinforcing vertical integration.
Jefferies analyst Brent Thill calls Alphabet the best vertically integrated AI play.
Former Tesla board member Steve Westly says the energy division could transform Tesla's valuation.
IMAX CEO Rich Gelfond expects $1.4 billion global box office in 2026, a best-ever year.
Boeing CEO Kelly Ortberg signals a production ramp and strong backlog.
RBC's Amy Wu Silverman notes near-record low hedging demand into tech earnings.
China's Moonshot AI model stirs efficiency concerns but seen as less disruptive than DeepSeek.

Ideas

Brent Thill Analyst, Jefferies 18:02

Alphabet's vertical AI integration drives advantage

Alphabet is the best vertically integrated AI play. It controls its own chips, cooling, data, and users, giving it a cost advantage and 40% operating margins. Unlike Microsoft, which must leverage partners, Alphabet owns the full stack, making it a top AI investment. Capex growth is decelerating from 70-80% to 50% next year while absolute spend still rises, easing margin pressure.

Steve Westly Managing Partner, Westly Group 24:44

Tesla energy division drives future growth

Tesla's energy division is rapidly growing, with 2026 revenue expected up 35%. A new 15 kW facility in Texas and a 50 GWh battery production network position Tesla to meet surging power demand from AI data centers. The market undervalues this business, which could transform Tesla into a major auto and energy company.

Rich Gelfond CEO, IMAX 60:18

IMAX expects record 2026 box office revenue

IMAX is on track for its best year ever in 2026, projecting $1.4 billion global box office. A slate of blockbusters shot with IMAX cameras—including The Odyssey, Spider-Man, Dune 3, Avengers, and a new Tom Cruise film—drives the outlook. The Odyssey's record $52 million IMAX opening supports the trajectory.

Kelly Ortberg CEO, Boeing 64:32

Boeing production ramp and strong backlog

Boeing is turning the corner on production, ramping 737 output from 47 to 63 per month and 787 from 8 to 10 per month. A strong backlog, resilient air travel demand, and a 20-year forecast of 44,000 airplanes support the outlook.

This Bloomberg Markets video, published July 20, 2026, features Brent Thill, Steve Westly, Rich Gelfond, Kelly Ortberg discussing GOOG, TSLA, IMAX, BA. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Brent Thill, Steve Westly, Rich Gelfond, Kelly Ortberg · Tickers: GOOG, TSLA, IMAX, BA

Alphabet To Develop Their Own Server Chips | The Close 7/20/2026

Summary

Ideas

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