The Bid - An Investing Podcast from BlackRock

BlackRock
  • 4.3 (254)
  • Investing
  • Updated Weekly

The Bid breaks down what’s happening in the world of investing and explores the forces changing the economy and finance. From stock market outlooks to geopolitics and technology, BlackRock speaks to thought leaders and industry experts from around the globe about the biggest trends moving markets.

  1. 3d ago

    AI Beyond Tech: How Artificial Intelligence Is Reshaping the Economy

    The AI economy is entering a broader phase as artificial intelligence moves beyond technology companies and into healthcare, manufacturing, financial services and other parts of the economy. At the same time, growing demand for computing power is highlighting physical constraints around electricity, semiconductors and critical materials. In this episode of The Bid, host Oscar Pulido speaks with Jay Jacobs, BlackRock’s US Head of Equity ETFs, about how the AI economy is evolving. They discuss where AI adoption is taking hold, what can distinguish productive implementation from investment without clear results, and why infrastructure is becoming increasingly important to the AI build-out. The conversation also examines the intersection of AI investing, physical infrastructure, megaforces and capital markets—from data centers and power generation to robotics, autonomous vehicles and digital assets. Key moments in this episode: 00:00 Introduction to Where AI Is Heading Next 02:07 Defining AI Economy 03:33 From Experiments to Profits 05:07 Potato Chip AI Playbook 06:50 Healthcare Adoption Surge 08:21 Power and Materials Crunch 11:19 Physics Limits and Solutions 12:52 Robots and Autonomous Future 14:01 How Investors Position Now 15:36 Digital Assets Meet AI 17:31 What Comes Next for AI 19:39 Wrap Up and Disclosures Key insights: ·      How AI adoption is broadening beyond the technology sector. ·      Why having a defined use case can matter when companies deploy AI. ·      Where power, copper and specialized materials may create physical constraints. ·      How healthcare and manufacturing are applying AI to complex processes. ·      Why robotics and autonomous vehicles represent a shift toward physical AI. ·      How digital assets could support machine-to-machine transactions and micropayments. 🔗 Watch and Subscribe to The Bid on YouTube: https://1blk.co/48iHOs4  🔗 Follow Us on LinkedIn: https://1blk.co/3v09q6Q  🔗 Follow Us on Twitter (or X): https://1blk.co/3NuiIOW  🔗 Learn More About BlackRock: https://1blk.co/41uwhDS   AI economy, AI investing, AI adoption, infrastructure, megaforces, capital markets, artificial intelligence Sources: 2026 Thematic Mid-Year Update “Welcome to the AI Economy”, iShares.com; This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    AI Beyond Tech: How Artificial Intelligence Is Reshaping the Economy

  2. Sep 25

    Space, The Final Investing Frontier - How AI and Technology Are Expanding the Economy

    The space economy is becoming more connected to everyday economic activity, from satellite communications and navigation to weather forecasting, defense and data. Falling launch costs, advances in satellite technology and rising demand for AI infrastructure are broadening the conversation around what space could enable. In this episode of The Bid, host Oscar Pulido speaks with Reid Menge, portfolio manager in BlackRock’s Fundamental Equity Group, about how the space economy is developing and the forces behind its growing relevance. They explore lower launch costs, satellite capabilities, national security priorities, AI infrastructure and the potential evolution of data centers. The discussion also looks beyond rockets and satellites to the broader infrastructure and capital markets ecosystem supporting space activity. Reid explains why cost and capability remain critical variables, how government spending can intersect with private-sector innovation, and why technical execution remains an important source of uncertainty as the industry develops. Episode chapters 00:00 Introduction to Space Economy 02:02 Space in Daily Life 02:37 Space Investing Goes Mainstream 04:40 Cost Capability Demand 09:22 AI Meets Orbit 11:18 Space Data Centers Explained 14:39 National Security Imperative 16:20 Where Opportunities Emerge 18:29 Risks and Reality Check 20:32 Next Decade Outlook 22:28 Wrap Up and Disclosures Key Insights from this episode: ·      How falling launch costs could expand the range of economically viable space activities. ·      Why smaller, lower-cost satellites are changing communications and Earth observation. ·      How AI is increasing the potential value of data collected from space. ·      Where national security priorities intersect with commercial space infrastructure. ·      Why semiconductors, communications equipment and specialty materials form part of the space ecosystem. ·      How execution risk and technological complexity could influence the industry’s development. 🔗 Watch and Subscribe to The Bid on YouTube: https://1blk.co/48iHOs4  🔗 Follow Us on LinkedIn: https://1blk.co/3v09q6Q  🔗 Follow Us on Twitter (or X): https://1blk.co/3NuiIOW  🔗 Learn More About BlackRock: https://1blk.co/41uwhDS  Sources: GPS.gov data 2026; “How geostationary small satellites are providing strategic access to space”, WEF 2025; “Big ideas, small satellites”, NASA Jet Propulsion Laboratory; “State-of-the-Art Small Spacecraft Technology” NASA report May, 2026; Department of War Budget 2027; “Servers account for 60% of the total cost of ownership of a one-gigawatt AI data center”, Epoch AI; “SpaceX IPO: Musk's firm set to launch first 'orbital data center' AI1 satellites in 2027, will put compute on Starlink craft” DCD 2026; Department of the Air Force Posture Statement Fiscal Year 2027; space economy, AI investing, infrastructure, capital markets, megaforces, satellite technology, national security, data centers This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    Space, The Final Investing Frontier - How AI and Technology Are Expanding the Economy

  3. Sep 18

    David Rubenstein, Co-Founder of The Carlyle Group, on the Business of Sports, Investing and Leadership

    Sports investing has evolved as franchise values have risen, live sports have retained a powerful hold on audiences, and ownership has become an increasingly sophisticated business. Yet sports teams remain unusual assets, combining economics with competition, community identity and deeply emotional fan relationships. Host Oscar Pulido speaks with David Rubenstein, co-founder and co-chairman of The Carlyle Group and control partner of the Baltimore Orioles ownership group, about his move from private equity into sports investing. They discuss his decision to invest in his hometown team, the role franchises can play in their cities, and how leadership differs when success is measured by more than financial returns. The conversation also explores the forces influencing sports investing, from rising franchise values and broader ownership participation to live media demand, AI-powered analytics and longer-term developments across capital markets. Key moments in the episode: 00:00 Meet David Rubenstein 02:10 Sports ownership and Civic Responsibility 04:06 Camden Yards and Baltimore City Revival 06:42 What Owners Really Do 09:00 Winning Over Profits 10:24 Long Horizon Decisions 13:06 Sports as an Asset Class 15:45 AI in Sports and Moneyball 2.0 17:11 Next 20 Years of Investing 20:28 First Orioles Game Memories 21:38 Closing and Up Next 🔗 Watch and Subscribe to The Bid on YouTube: https://1blk.co/48iHOs4  🔗 Follow Us on LinkedIn: https://1blk.co/3v09q6Q  🔗 Follow Us on Twitter (or X): https://1blk.co/3NuiIOW  🔗 Learn More About BlackRock: https://1blk.co/41uwhDS  sports investing, David Rubenstein, Baltimore Orioles, sports ownership, business of sports, sports franchises, private equity, Carlyle Group, private markets, AI investing, artificial intelligence, baseball analytics, sports analytics, live sports, media rights, franchise valuations, leadership, sports business, institutional investing, professional sports ownership Sources: Inside The Owners Box, David Rubenstein, September 2026 This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    David Rubenstein, Co-Founder of The Carlyle Group, on the Business of Sports, Investing and Leadership

  4. Sep 11

    Sports, Markets and Investing: What Separates Skill From Good Luck

    Sports and investing can both be shaped by small margins, repeated decisions and the balance between skill and chance. From tennis points to soccer matches and basketball shot selection, elite competition offers a useful lens for thinking about decision-making in capital markets. In this episode of The Bid, host Oscar Pulido speaks with Ronald Van Loon, Portfolio Manager in BlackRock’s Global Fixed Income Group, about the connection between sports and investing. They examine hit rates, payoff ratios, teamwork, preparation and the role of process in fixed income portfolio management. The discussion explores why a modest edge can matter when applied consistently, how different sports change the influence of chance, and why sports and investing both reward attention to probability, payoff and repeated opportunities. They also consider market volatility, stock market trends and the importance of continuous learning. Check out the previous episode on tennis here: https://open.spotify.com/episode/061EZSj3afpDQd7lL1FJUF?si=diYmU2axTAS26i7IxccxhA Key moments in this episode: 00:00 Introduction 01:42 Tennis Margins Compound - How small statistical advantages can compound across repeated decisions 05:17 Winning the Big Points - Why probability and payoff need to be considered together 07:55 Soccer Skill vs Chance - Where skill and chance differ across tennis, soccer and basketball. 09:49 Teamwork in Investing - How teamwork can support decision-making across complex fixed income markets 12:58 Olympics and Process - Why preparation and continuous learning remain central to a repeatable investment process 15:20 Basketball Expected Value - How basketball’s changing shot selection illustrates the concept of expected value 17:35 Three-Part Investor Framework 18:57 Closing and Next Episode sports and investing, capital markets, fixed income, portfolio management, investment process, market volatility, stock market trends Sources: Van Loon, R.J.M. 2021. “Long-Term Investing and the Frequency of Investment Decisions”, The Journal of Portfolio Management 47 (8): 86-104; Van Loon, R.J.M. 2021. “Investment Skill and Consistent Long-Term Alpha”, The Journal of Portfolio Management  This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    Sports, Markets and Investing: What Separates Skill From Good Luck

  5. Aug 14

    The Biggest Themes of 2026 So Far: How AI, Geopolitics and Digital Assets Are Reshaping Portfolios

    2026 market themes have been shaped by geopolitical realignment, the physical demands of artificial intelligence and changing assumptions about diversification. Across markets, investors are confronting several plausible futures rather than relying on a single base case. Host Oscar Pulido is joined by Stevie Manns, producer of The Bid, to revisit conversations with BlackRock leaders and external guests. Together, they connect insights on geopolitics, retirement, AI infrastructure, market concentration, portfolio construction, Asia, digital assets and tokenization. The discussion explores how these subjects form a broader story about preparation. Listeners will hear why AI investing increasingly involves energy and physical infrastructure, how concentration is changing the character of major equity indexes, and why a more dynamic and granular approach may be relevant as capital markets evolve. Key insights: ·      How geopolitical shifts are influencing markets, supply chains and economic policy ·      Why AI investing depends on power, data centers and infrastructure ·      How stock market concentration can affect diversification assumptions ·      Why portfolio construction may require multiple scenarios ·      Where Asia and digital assets are broadening the opportunity set ·      How tokenization could reduce friction in financial markets Episodes featured: 246: Macro and Geopolitical Outlook - Live from Davos 248: Retirement Realities: Ask Me Anything With Jaime Magyera 250: Powering AI 2.0: Why The AI Boom is becoming an Energy Story 257: Beyond The Magnificent Seven: Discovering Equity Opportunities in the S&P 493 258: Portfolio Construction for A Changing World: Adapting to A Market Regime Shift 259: Cryptoassets At A Crossroad: Volatility, Adoption and Changing Market Perspectives 261: Why Are Global Investors Looking To Asia As An Investment Destination 264: Is Tokenization The Next Evolution of Financial Market Infrastructure 266: Midyear Outlook: Scarcity vs Abundance in The Age of AI 268: AI's Latest Frontiers: An Investor's Perspective on Space, AI and Equity Opportunities 2026 market themes, AI investing, portfolio construction, capital markets, digital assets, tokenization, geopolitics This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    The Biggest Themes of 2026 So Far: How AI, Geopolitics and Digital Assets Are Reshaping Portfolios

  6. Jul 31

    AI’s latest frontiers: An Investor’s Perspective on AI, Space and Equity opportunities

    AI investing continues to shape markets as artificial intelligence (AI) moves beyond software and into the physical infrastructure of the global economy. From data centers and chips to space-based compute, autonomous trucks and humanoid robotics, the AI buildout is creating new questions about scarcity, supply chains and where value may accrue next. In this episode of The Bid, host Oscar Pulido is joined by Tony Kim, Head of the Global Technology Team within BlackRock Fundamental Equities. Fresh from his 13th annual technology tour across San Francisco and Silicon Valley, Tony shares what he heard from leading innovators and how the AI conversation has evolved from model development to compute, infrastructure, physical AI and the changing shape of the technology stack. Tony explains why AI investing may increasingly require looking across multiple layers of the ecosystem: the physical layer of power, chips, data centers and cloud infrastructure; the intelligence layer of foundation models; and the application and services layer where disruption remains a central question. The discussion also explores how AI is creating both scarcity and abundance, why data center demand is reshaping supply chains, and how countries and companies tied to the compute build-out may be positioned differently from more service-oriented parts of the market. Check out our previous tech tour episodes with Tony Kim: 2025 - https://open.spotify.com/episode/6ffqOgM2CDbJGEoaWjgjIP?si=418fdf5f886c4f62 2024 - https://open.spotify.com/episode/3ruCZNZ7vHghypqwnQzslg?si=e62206f037df409b Key moments in this episode: 00:00 Introduction 01:57 AI Wave Expands - How AI investing is expanding from model development into space, robotics and physical systems. 05:28 AI Goes To Space - How low Earth orbit satellites could create new forms of AI data and, potentially, new compute architectures. 07:51 Physical AI Adoption - Why autonomous vehicles, self-driving trucks and humanoid robots are part of the broader physical AI story 10:00 Rewiring The Internet 14:38 Where To Invest Now - How the shift in market value toward compute and model-centric companies is reshaping stock market trends. 18:55 Risks And Optimism 22:38 Wrap Up And What's Next on The Bid  AI investing, artificial intelligence, technology investing, capital markets, megaforces, data centers, robotics, stock market trends Sources: BlackRock Fundamental Equities analysis of AI-related capex spending through 2030, as of July 2026; “How much does a GW of data center capacity actually cost” Investing.com, 2025; S&P Global Indices as at July 14th 2026 This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    AI’s latest frontiers: An Investor’s Perspective on AI, Space and Equity opportunities

  7. Jul 17

    Defense Investing in a New Era of Geopolitics, AI, and Global Security Transformation

    Defense investing is rapidly moving from the margins to the center of capital markets as geopolitical fragmentation, rising global tensions, and technological innovation reshape how nations allocate resources. What was once viewed as a niche or even overlooked sector is now emerging as a critical pillar of global infrastructure and security. In this episode of The Bid, host Oscar Pulido sits down with Rolf Heitmeyer, Head of Industrials in BlackRock’s Fundamental Equities Group, to explore the forces driving this shift in defense investing. They discuss the surge in global defense spending, the changing competitive landscape between incumbent contractors and new entrants, and how innovation - from AI-enabled systems to low-cost drones - is transforming modern warfare. As geopolitical megaforces continue to evolve and technology reshapes security priorities, defense investing is becoming an increasingly relevant theme for investors seeking to understand the intersection of global politics, innovation, and markets. Key moments in this episode: 00:00 Introduction 01:41 AI Spending Surge Explained 04:52 Tech Industry Shakeup Ahead 07:14 Attritable vs Exquisite 09:49 Scaling the Arsenal 11:32 Startup Innovation Tour 14:39 Defense in Portfolios 16:05 A Long Supercycle 17:13 Wrap Up and Disclosures Defense investing, capital markets, AI investing, megaforces, geopolitical risk, stock market trends, defense technology Sources: “Venture capital investment in defense tech surges while M&A activity slows” S&P Global March 2026; “Over 11,000 munitions in 16 Days of the Iran War: ‘Command of the Reload’ Governs Endurance” RUSI, March 2026; Department of War Statistics; Data from BlackRock Fundamental Equities as of April 2026. This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    Defense Investing in a New Era of Geopolitics, AI, and Global Security Transformation

  8. Jul 2

    2026 Midyear Outlook: Scarcity vs. Abundance in the Age of AI

    Artificial intelligence continues to reshape economies and markets, but its rapid expansion is also exposing new constraints across energy, infrastructure, labor, and capital. As investors navigate an increasingly complex landscape, the debate has shifted from AI's potential to the practical realities of building the systems that support it. In this episode of The Bid, host Oscar Pulido speaks with Jean Boivin, Head of the BlackRock Investment Institute, about BlackRock's 2026 Midyear Outlook. Together they examine the report's central theme - scarcity versus abundance - and discuss how AI, higher capital requirements, geopolitics, and structural economic changes are influencing today's investment landscape. Jean explains why today's market environment is defined by multiple competing outcomes rather than a single base case, introducing the concept of "polyfurcation." He also explores the evolving AI investment opportunity, the importance of infrastructure, the role of tactical portfolio construction, and why investors may need to rethink traditional diversification as megaforces continue to reshape markets. Key insights How AI is creating both new opportunities and new economic constraintsWhy scarcity has become a defining macroeconomic themeHow "polyfurcation" changes the way investors think about uncertaintyWhy infrastructure is becoming central to the AI investment storyHow portfolios may evolve beyond traditional asset class diversificationWhere investors are focusing as AI continues to reshape global markets AI investing, Midyear Outlook, capital markets, infrastructure investing, megaforces, stock market trends, artificial intelligence, global economy Sources: BlackRock Investment Institute, Midyear Outlook 2026 This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. In the UK and non-European Economic Area countries, this is authorized and regulated by the Financial Conduct Authority. In the European Economic Area, this is authorized and regulated by the Netherlands Authority for the Financial Markets. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

    2026 Midyear Outlook: Scarcity vs. Abundance in the Age of AI
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The Bid breaks down what’s happening in the world of investing and explores the forces changing the economy and finance. From stock market outlooks to geopolitics and technology, BlackRock speaks to thought leaders and industry experts from around the globe about the biggest trends moving markets.

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  • Creator
    BlackRock
  • Years Active
    2018 - 2026
  • Episodes
    275
  • Rating
    Clean
  • Copyright
    © 2025 BlackRock, Inc. All Rights Reserved. BLACKROCK is a registered trademark of BlackRock, Inc. All other trademarks are those of their respective owners.
  • Show Website
    The Bid - An Investing Podcast from BlackRock

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