Bloomberg Businessweek Weekend - June 12th, 2026

**SPEAKER_1** (0:02)
Bloomberg Audio Studios, Podcasts, Radio, News.

**SPEAKER_2** (0:08)
This is Bloomberg Businessweek Daily, reporting from the magazine that helps global leaders stay ahead, with insight on the people, companies, and trends shaping today's complex economy, plus global business, finance, and tech news as it happens. The Bloomberg Businessweek Daily podcast with Carol Massar and Tim Stenovec on Bloomberg Radio.

**Carol Massar** (0:32)
Hi, everyone. Welcome to the Bloomberg Businessweek Weekend Podcast, a topsy-turvy week for global markets driven by the ongoing conflict in the Middle East. It seems never ending. The US and Iran exchanging strikes, jolting their two-month-old truce and endangering talks aimed at securing lasting peace in the Middle East.

**Tim Stenovec** (0:50)
Meanwhile, Wall Street going all in on Elon Musk's SpaceX, which debuted on the NASDAQ on Friday in the record-breaking IPO. Investors scrambling for a piece of the space giant, also the AI giant, also the owner of the platform formerly known as Twitter and maybe, just maybe as some analysts have told us, maybe it'll be part of Tesla or Tesla would be part of that in the future.

**Carol Massar** (1:13)
So then throw in the boring company and then the Neuralink. Neuralink and whatever else, right?

**Tim Stenovec** (1:20)
Elon does a lot.

**Carol Massar** (1:20)
Robots, like all of it.

**Tim Stenovec** (1:22)
Investors certainly scrambling for a piece of the space for a full breakdown of this record IPO. Head on over to the Bloomberg Terminal or bloomberg.com.

**Carol Massar** (1:30)
With that as our backdrop, another mega cap tech company was also on our mind this past week. That was Apple. Bloomberg's managing editor for global consumer tech and our in-house Apple expert, Mark Gurman, who correctly forecast many months ago, maybe what was coming when it comes to AI and Siri. Well, he unpacked the details further from this past week's Apple Annual Worldwide Developers Conference. Everything from the biggest overhaul of Siri to, yes, a foldable iPhone, although that really wasn't part of the announcements. But what Mark reminded us, you read inside all the details and that's where you find out about this possible or expected foldable iPhone.

**Tim Stenovec** (2:08)
Plus as AI continues to seemingly reshape everything, including the corporate landscape, pressure on the American worker is growing. Former US. Commerce Secretary, Gina Raimondo, weighs in on what needs to be done to avoid significant dislocations in the labor market.

**Carol Massar** (2:22)
And we can't talk about AI without being reminded of all the energy it requires and all the sources needed to meet that demand, including nuclear. The CEO of Nano Nuclear, James Walker, gives us an update on those much talked about SMRs, small modular reactors.

**Tim Stenovec** (2:38)
And later on, we catch up with the director of the hit Broadway show Two Strangers Carry a Cake Across New York. All that to come. We begin with a closer look at one of the world's most valuable companies. We are talking about Apple.

**Carol Massar** (2:49)
We are indeed. This past Monday, Apple unveiled a new AI strategy at its annual Worldwide Developers Conference out on the West Coast, aiming to provide practical improvements and features that the company believes everyday consumers will actually use. For more, Bloomberg's Emily Grafio and I cut up with our in-house Apple whisperer, Bloomberg's managing editor for global consumer tech, Mark Gurman.

**Mark Gurman** (3:10)
My big takeaway is that Apple has just reset its AI strategy, its series strategy, and its underlying software platforms because they have a blockbuster next three years of new hardware products that they need to get right.
What you've seen from Apple lately is that the gate to some of their hardware products coming out on time, being successful, working as advertised, has been AI and has been the underlying operating systems. For the foldable iPhone, AirPods with cameras, three smart home devices, new iPads and touchscreen Macs to come out and sell at their peak needs to work properly and they need to get the software and AI story in shape and they did just that. Obviously, they can't come out and say because of their culture that this is why they're doing that. But from what I'm telling you is that this is all about enabling this next generation suite of hardware under incoming CEO John Tarnas.

**Emily Grafio** (4:03)
So, are they finally caught up in AI compared to the other big tech companies?

**Mark Gurman** (4:08)
No, they're where they should have been two years ago. They're not caught up in any shape or form. But what we also saw is Apple rollout AI in a way that is for mass consumers. Their new LLM, their new on-device Siri technology also hitting to the cloud is effective. This is what mass consumers are going to use. Don't forget, a third of the world is using these Apple products.