WEBVTT - Nvidia's AI Future; Trump Aims to Block Key Report

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

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<v Speaker 2>are the stories we're following today.

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<v Speaker 3>Karen, we begin with Video CEO Jensen Wang has announced

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<v Speaker 3>a range of new chips, software and services as the

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<v Speaker 3>company looks to maintain its lead in artificial intelligence. Jensen

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<v Speaker 3>Wong spoke to a packed arena at the opening of

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<v Speaker 3>the Consumer Electronics Show in Las Vegas.

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<v Speaker 1>And so when you.

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<v Speaker 4>See application after applications that are AI driven AI native

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<v Speaker 4>at the core of it, this fundamental concept is there.

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<v Speaker 4>Machine learning has changed how every application is going to

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<v Speaker 4>be built, how computing will be done, and the possibilities beyond.

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<v Speaker 3>And you can hear more from Nvidia CEO Jensen Wang

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<v Speaker 3>later this morning. We're going to speak live with the

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<v Speaker 3>CEO in Las Vegas, and you can catch that conversation

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<v Speaker 3>at eleven thirty this morning, Wall Street Time on Bloomberg

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<v Speaker 3>Radio and Television.

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<v Speaker 2>Well, Nathan Wongs and Vidia begins the day at an

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<v Speaker 2>all time high. The stocks surged almost three and a

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<v Speaker 2>half percent yesterday. Lorie Calvasina, the head of US equity

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<v Speaker 2>strategy at RBC Capital Market, says it is a key

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<v Speaker 2>for the markets for other stocks to participate in the rally.

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<v Speaker 5>Look, I think a lot of people want this market

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<v Speaker 5>to broaden out. You can count myself in that camp.

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<v Speaker 5>That being said, I think we have to understand why

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<v Speaker 5>we have had so many head fakes so far, and

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<v Speaker 5>it is simply because the value part of the market,

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<v Speaker 5>the rest of the SMP, whatever you want to call it,

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<v Speaker 5>has just not put up superior earnings growth.

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<v Speaker 2>RBC's Lori Calvasina notes a gauge of the Magnificent seven

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<v Speaker 2>mega caps outperform the broader markets, climbing two percent.

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<v Speaker 3>Well, another major market story we're following this morning, Karen

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<v Speaker 3>involves geo politics. The US is targeting the world's biggest

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<v Speaker 3>gaming publisher and the top electric vehicle battery maker. In

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<v Speaker 3>a surprise move of weeks before Donald Trump takes office,

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<v Speaker 3>The Pentagon has blacklisted ten Cent Holdings Contemporary Amprex Technology,

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<v Speaker 3>or CATL for alleged links to the Chinese military. We

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<v Speaker 3>get more from Bloomberg's Rebekka Chung Wilkins in Hong Kong.

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<v Speaker 6>It's this Pentagon list of companies with these alleged links

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<v Speaker 6>to the Chinese military doesn't actually necessitate any kind of

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<v Speaker 6>actual sanctions or immediate restrictions on these companies. But it

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<v Speaker 6>is essentially a form of sort of discouragement to US

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<v Speaker 6>entities and to US companies from dealing business or trading

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<v Speaker 6>these names. So you know, we'll really wait to see

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<v Speaker 6>whether the long term consequences followed through. Important to note

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<v Speaker 6>that Tencent, among those other names, have pushed back quite

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<v Speaker 6>firmly on this allegation. They say that their inclusion on

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<v Speaker 6>this list is a mistake.

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<v Speaker 3>Bloomberg's Rebecca Chung Wilkins says China's Foreign ministry is vowing

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<v Speaker 3>to defend its company's rights.

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<v Speaker 2>Meanwhile, Nathan Treasury Secretary Janet Yellen Hares raised serious concern

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<v Speaker 2>about malicious cyber activity, which China's Vice Premier Hali Fog

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<v Speaker 2>the Treasury Department serves the t leaders meant virtually yesterday,

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<v Speaker 2>and Yellen Warren of consequences for Chinese companies that support

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<v Speaker 2>Russia's war in Ukraine, as well as Chinese industrial over

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<v Speaker 2>capacity that she says is harming US business. The exchange

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<v Speaker 2>comes a week after the US said Chinese state sponsored

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<v Speaker 2>hackers had reached about.

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<v Speaker 7>One hundred Treasury Department computers.

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<v Speaker 2>It's likely to be Yellen's final direct contact with the

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<v Speaker 2>Chinese government and Karen.

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<v Speaker 3>We continue to follow the political turmoil in Canada. Hours

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<v Speaker 3>after Justin Trudeau announced his plans to resign as Prime Minister,

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<v Speaker 3>Mark Karney, former Governor of the Bank of England and

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<v Speaker 3>Bank of Canada, said he's considering entering the race to

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<v Speaker 3>be Canada's new leader. Carney is currently chair of Bloomberg's.

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<v Speaker 7>Board of Directors.

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<v Speaker 3>He says he is encouraged by support from Liberal Party

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<v Speaker 3>lawmakers and backers. Yesterday, Trudeau cited his own inability to

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<v Speaker 3>unite the Liberal Party.

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<v Speaker 8>I have always been driven by my love for Canada,

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<v Speaker 8>by my desire to serve Canadians, and by what is

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<v Speaker 8>in the best interests of Canadians, and Canadians deserve a

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<v Speaker 8>real choice in the selection, and it has become obvious

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<v Speaker 8>to me with the internal battles, that I cannot be

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<v Speaker 8>the one to carry the Liberal standard into the next selection.

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<v Speaker 3>Justin Trudeau will remain Canada's Prime Minister until a new

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<v Speaker 3>leader is selected, that will likely be in March.

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<v Speaker 2>Well, Nathan, with less than two weeks until Donald Trump

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<v Speaker 2>returns to the White House, the President elect is making

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<v Speaker 2>a move to keep these special counsels repoored against him

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<v Speaker 2>from becoming public. Trump's lawyers are asking a federal judge

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<v Speaker 2>in Florida at a blog Attorney General Merrick Garland from

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<v Speaker 2>releasing Jack Smith's final report in the classifying documents case.

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<v Speaker 2>They say it accuses the president elect of engaging in

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<v Speaker 2>an unprecedented criminal effort, and there's reason to believe Garland

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<v Speaker 2>plans to release it within the next few days. The

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<v Speaker 2>filing confirmed Smith is close to finalizing and may have

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<v Speaker 2>already finished his report. Smith dropped his case against Trump

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<v Speaker 2>after the election, citing long standing Justice Department policy against

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<v Speaker 2>prosecuting sitting presidents.

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<v Speaker 3>M Karen, a big supporter of Donald Trump, has been

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<v Speaker 3>added to the board at Meta Platforms. It's Dana White,

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<v Speaker 3>the CEO of Ultimate Fighting Championship. White is a friend

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<v Speaker 3>of Meta CEO Mark Zuckerberg. He has expanded UFC into

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<v Speaker 3>one of the world's most popular sports and entertainment businesses.

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<v Speaker 3>Zuckerberg is an avid mixed martial arts fan and recreational fighter.

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<v Speaker 2>Well Nathan, a US doc workers union and their employer

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<v Speaker 2>group will meet today with just over a week to

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<v Speaker 2>hammer out a deal on a new labor contract, and

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<v Speaker 2>let's find out more with the Bloomberg said John Tucker

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<v Speaker 2>and John, here we go again.

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<v Speaker 9>Yeah, potentially, Karen. The International Longshoreman's Association and the US

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<v Speaker 9>Maritime Alliance are meeting in New Jersey. They're going to

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<v Speaker 9>try to negotiate a new labor contract with a deadline

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<v Speaker 9>of January fifteenth, to avoid a strike that could halt

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<v Speaker 9>half the country's container volumes. The main point of contention

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<v Speaker 9>the use of semi automated cranes at port terminals, with

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<v Speaker 9>the USMX seeking to improve productivity. Now you'll recall back

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<v Speaker 9>in early October, the ISLA reached a tentative deal on

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<v Speaker 9>a sixty two percent wage increase over six years that

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<v Speaker 9>suspended a three day strike but left the technology issue unresolved.

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<v Speaker 9>Retailers like Home Depot, Dollar General, and Gap say, with

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<v Speaker 9>just ten days until the deadline for an agreement, they're

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<v Speaker 9>now implementing contingency plans at working to try to keep

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<v Speaker 9>inventory moving and limit the impact of any strike on consumers.

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<v Speaker 9>You know, York, I'm John Tucker, Bloomberg Radio.

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<v Speaker 2>It's time now for a look at some of the

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<v Speaker 2>other stories making news in New York and around the world.

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<v Speaker 2>And for that we're joined by Bloomberg's Michael Barr Michael,

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<v Speaker 2>good Morning.

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<v Speaker 10>Good Morning Karen. In New Orleans, What Peace, President Joe

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<v Speaker 10>Biden attended a prayer service to offer condolences and pledge

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<v Speaker 10>federal support to the families of the victims of the

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<v Speaker 10>New Year's Day attack. Biden was accompanied by the First

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<v Speaker 10>Lady and other officials.

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<v Speaker 11>IM wife Jill, and I here to stand with you,

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<v Speaker 11>agree with you, to pray with you. Let you know

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<v Speaker 11>you are not alone. The rest of the nations looking

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<v Speaker 11>at you as well.

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<v Speaker 10>Biden promised to make every resource available to complete the

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<v Speaker 10>investigation and provide additional security for upcoming events in the city.

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<v Speaker 10>The attack along Bourbon Street, which killed fourteen people and

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<v Speaker 10>injured over thirty, is believed to have been carried out

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<v Speaker 10>by a lone individual inspired by ISIS, who was killed

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<v Speaker 10>in a shootout with police. A strong earthquake has shaken

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<v Speaker 10>a mountainous region in western China near Nepal, killing at

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<v Speaker 10>least fifty three people. More than sixty others were hurt.

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<v Speaker 10>China says the earthquake registered to magnitude six point eight.

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<v Speaker 10>The epicenter was about fifty miles northeast of Mount Everest,

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<v Speaker 10>which straddles the border. Today is catch up day for

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<v Speaker 10>US airlines, as this week's winter weather has led to

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<v Speaker 10>thousands of flight cancelations and delays. Kathleen Bangs is with

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<v Speaker 10>flight tracking company flight Aware.

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<v Speaker 12>What we saw, We're over four thos thousand flights canceled

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<v Speaker 12>Sunday and Monday, and delayed flights almost up to twenty thousand.

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<v Speaker 12>That sounds like a lot. We've had winter storms, however,

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<v Speaker 12>where they were far worse, but this is definitely the

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<v Speaker 12>most impactful that we've seen so far this winter season.

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<v Speaker 10>Flying Aware, as Kathleen bang says, today winds are going

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<v Speaker 10>to be gusting potentially up to forty five or fifty

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<v Speaker 10>miles an hour, slowing down ground operations. Meanwhile, bitter cold

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<v Speaker 10>will hit the southern US today. Finally, Donald Trump is

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<v Speaker 10>nominated to state court judge from Long Island to be

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<v Speaker 10>US Attorney for the Eastern District of New York. Trump

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<v Speaker 10>says Joseph Nocella Junior served as a district judge in

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<v Speaker 10>Nassau County. If confirmed, he would replace Breon Peace, a

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<v Speaker 10>Brooklyn native, who was appointed by US Attorney and then

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<v Speaker 10>President Joe Biden in twenty twenty one. Global news twenty

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<v Speaker 10>four hours a day and whatever you want it with

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<v Speaker 10>Bloomberg News Now. I'm Michael Barr.

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<v Speaker 7>This is Bloomberg Karen Orry, Malchael Barr. Thank you.

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<v Speaker 2>Time now for the Bloomberg Sports Update, brought to you

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<v Speaker 2>by Try State Outy. Here's John Stanshawer, John, good morning.

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<v Speaker 10>Good morning.

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<v Speaker 13>Carry. Three NFL teams, the Jets, Bears, and Saints, fired

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<v Speaker 13>their coach during the season. Two others, the Patriots and Jaguars,

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<v Speaker 13>have let their coach go since the season ended, but

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<v Speaker 13>the Giants are sticking with Brian day Ball Angela manager

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<v Speaker 13>Joe Shane, despite a three and fourteen nightmare season, most

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<v Speaker 13>losses in the one hundred year history of the team.

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<v Speaker 13>Owner John Mara cited that it was only two years

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<v Speaker 13>ago the day Ball was coach of the Year, said

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<v Speaker 13>he liked Shane's most recent draft class. He admitted his

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<v Speaker 13>decision would not be popular in what he called Giants Land.

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<v Speaker 13>There had been two straight home games where a plane

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<v Speaker 13>was rented carrying a sign imploring Marat to clean house.

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<v Speaker 14>I didn't need planes flying over me to tell me

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<v Speaker 14>how upset the fans are. I hear from them every day,

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<v Speaker 14>so that really did not have much of an effect.

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<v Speaker 14>I get how upset they are. I try to respond

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<v Speaker 14>to them. Nobody was more upset than I am about

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<v Speaker 14>how we performed in recent years. And yeah, I have

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<v Speaker 14>to stand up here and take the heat for that.

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<v Speaker 13>Marri admit of the Giants need to find a quarterback

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<v Speaker 13>Sead It's up to Sane and Davil to do that.

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<v Speaker 13>Another team that may fire its coach is Dallas. Mike

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<v Speaker 13>McCarthy says he wants to stay. His contract expires next

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<v Speaker 13>week so he could become a free agent coach. Chicago

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<v Speaker 13>reportedly wants to interview McCarthy. The Jets talking to several candidates,

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<v Speaker 13>including Rex Ryan. He was the Jets head coach the

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<v Speaker 13>last time they went to the playoffs, back in twenty

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<v Speaker 13>ten at the Garden, bad loss of the Knicks, though

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<v Speaker 13>they were without Karl Anthony Towns to a knee injury,

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<v Speaker 13>Orlando was without its top four scorers, had already lost

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<v Speaker 13>the Knicks three times this season. The Magic one one

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<v Speaker 13>oh three ninety four Knicks made only four of twenty

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<v Speaker 13>two three pointers nets at Barkley's lost to Indiana won

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<v Speaker 13>thirteen ninety nine Devils. The three to two win at

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<v Speaker 13>Seattle Capitol's loss of a shootout at Buffalo Rutgers beaten

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<v Speaker 13>by Wisconsin seventy five sixty three, The Mets announced they

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<v Speaker 13>will retire David Wrights number five. On July nineteen, John

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<v Speaker 13>stash that we're Bloomberg Sports Karen need.

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<v Speaker 1>Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 10>Good morning.

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<v Speaker 3>I'm Nathan Hager. The company that has been at the

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<v Speaker 3>forefront of artificial intelligence architecture for a couple of years

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<v Speaker 3>now is looking to cement that position for years to come.

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<v Speaker 3>And Nvidia CEO Jensen Wong unveiled a range of new chips,

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<v Speaker 3>software and services in front of a packed audience last

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<v Speaker 3>night at the CES trade show in Las Vegas, including

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<v Speaker 3>an update to the processor for in Nvidia's traditional customer

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<v Speaker 3>base of gamers.

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<v Speaker 7>The g Force.

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<v Speaker 4>G Force enabled AI to reach the masses, and now

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<v Speaker 4>AI is coming home to g Force.

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<v Speaker 7>And for more.

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<v Speaker 3>And what we heard last night from Nvidia and it's

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<v Speaker 3>CEO Jensen Wang. We're pleased to be joined this morning

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<v Speaker 3>by Bloomberg's Tom Mackenzie, Tom, good morning. G Force was

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<v Speaker 3>really just the tip of the iceberg? Was it a

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<v Speaker 3>Jensen Wong gave a lot for investors to chew on.

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<v Speaker 10>Yeah.

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<v Speaker 15>Look he stood there on the stage and is in

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<v Speaker 15>his sparkly leather jacket and not there to vegas. It

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<v Speaker 15>was a pass packed auditorium as you can imagine the

0:12:08.080 --> 0:12:10.400
<v Speaker 15>keynote speaker and as you say, look he hit on

0:12:10.440 --> 0:12:12.959
<v Speaker 15>a number of different topics and a number of different

0:12:13.040 --> 0:12:15.880
<v Speaker 15>unveils as well for the business. So yes, G Forces,

0:12:16.040 --> 0:12:17.440
<v Speaker 15>as you mentioned as well, a bit of a nod

0:12:17.480 --> 0:12:19.680
<v Speaker 15>back to back to the past the foundations of that

0:12:19.720 --> 0:12:22.400
<v Speaker 15>business of course, and video starting thirty years ago or

0:12:22.400 --> 0:12:24.920
<v Speaker 15>so as a gaming company building chips for gaming, and

0:12:24.920 --> 0:12:28.000
<v Speaker 15>then of course those were repurposed for AI. As we know,

0:12:28.120 --> 0:12:31.880
<v Speaker 15>the G Force is interestingly built on AI infrastructure now,

0:12:31.880 --> 0:12:35.880
<v Speaker 15>the Blackwell infrastructure, so that the proposition is will supercharge gaming.

0:12:35.920 --> 0:12:37.600
<v Speaker 15>So if you're a hardcore gamer, that's good news. They

0:12:37.640 --> 0:12:39.760
<v Speaker 15>get about ten billion eleven billion US dollars in terms

0:12:39.800 --> 0:12:43.040
<v Speaker 15>of revenues from gaming, still so not insignificant, but pales

0:12:43.080 --> 0:12:44.839
<v Speaker 15>and comparison in terms of what they get in terms

0:12:44.840 --> 0:12:46.880
<v Speaker 15>of revenues from the data center of the business with

0:12:46.920 --> 0:12:49.319
<v Speaker 15>those AI accelerators, that's expected to be about one hundred

0:12:49.320 --> 0:12:52.000
<v Speaker 15>billion this year in terms of revenues, but nonetheless still

0:12:52.000 --> 0:12:55.360
<v Speaker 15>a significant component is gaming. There was also the software

0:12:55.360 --> 0:12:56.840
<v Speaker 15>piece as well, and it's a reminder that in Vida

0:12:56.880 --> 0:12:58.520
<v Speaker 15>doesn't just do the hardware, doesn't just do the chips,

0:12:58.559 --> 0:13:01.480
<v Speaker 15>it does the software around as well, with Kuda for example,

0:13:01.480 --> 0:13:04.199
<v Speaker 15>that accompanies those black Well chips. But they also announced

0:13:04.559 --> 0:13:10.600
<v Speaker 15>a foundation model in terms of helping developers to start

0:13:10.640 --> 0:13:15.960
<v Speaker 15>to embed AI into physical property, so robots and cars,

0:13:16.000 --> 0:13:18.280
<v Speaker 15>and that was a big push by Jensen Wang. He's

0:13:18.320 --> 0:13:20.920
<v Speaker 15>obviously looking for other segments to grow the business, and

0:13:20.960 --> 0:13:24.040
<v Speaker 15>he thinks that physical AI is going to be quote

0:13:24.080 --> 0:13:27.319
<v Speaker 15>a multi trillion dollar opportunity for his business and others

0:13:27.320 --> 0:13:27.960
<v Speaker 15>within the space.

0:13:28.280 --> 0:13:31.400
<v Speaker 3>Yeah, the aspect of that was really interesting, particularly with

0:13:31.480 --> 0:13:34.600
<v Speaker 3>this partnership that Jensen Wang announced last night with Toyota

0:13:34.720 --> 0:13:37.280
<v Speaker 3>on self driving cars, particularly when we're hearing from a

0:13:37.360 --> 0:13:40.640
<v Speaker 3>number of analysts now saying that Tesla is a pure

0:13:40.679 --> 0:13:43.679
<v Speaker 3>AI play. This could put in Vidio into even further

0:13:43.880 --> 0:13:47.920
<v Speaker 3>direct competition in the self driving vehicle space.

0:13:48.400 --> 0:13:51.880
<v Speaker 15>Absolutely, and you just see every time Jensen Wong mentions

0:13:51.960 --> 0:13:54.959
<v Speaker 15>a partner company. You see the move in the stopples.

0:13:55.000 --> 0:13:57.280
<v Speaker 15>You saw that Media Tech. You saw that with Toyota.

0:13:57.400 --> 0:13:59.040
<v Speaker 15>As you said that rallied on the back of this news.

0:13:59.080 --> 0:14:01.840
<v Speaker 15>So they're going to be partnering. We're Toyota. Autonomous Vehicles

0:14:01.920 --> 0:14:03.120
<v Speaker 15>is going to be part of the person you can

0:14:03.160 --> 0:14:06.200
<v Speaker 15>see your future where your interactions with your car are

0:14:06.200 --> 0:14:07.679
<v Speaker 15>going to be much more seamless. They're going to be,

0:14:07.679 --> 0:14:09.880
<v Speaker 15>for example, doing things like facial recognition make sure you're

0:14:09.920 --> 0:14:11.880
<v Speaker 15>not falling asleep, but the wheel giving you more updated

0:14:11.960 --> 0:14:14.600
<v Speaker 15>data in terms of driving conditions, the road surface, all

0:14:14.600 --> 0:14:17.160
<v Speaker 15>that kind of thing as part of that autonomous driving

0:14:17.160 --> 0:14:20.320
<v Speaker 15>package as well. Obviously you won't be driving, it will

0:14:20.320 --> 0:14:22.960
<v Speaker 15>be autonomous, but you'll be sitting. They're making sure that

0:14:23.000 --> 0:14:25.840
<v Speaker 15>things stay stay on track. In terms of what else

0:14:25.960 --> 0:14:30.600
<v Speaker 15>happens with the embed of AI generitive AI into some

0:14:30.680 --> 0:14:33.120
<v Speaker 15>of these physical attributes. Bank of America you nodded to

0:14:33.120 --> 0:14:35.240
<v Speaker 15>some of the concerns, maybe some of the cautionary notes

0:14:35.280 --> 0:14:36.720
<v Speaker 15>coming through from an as Bank of America saying, look,

0:14:36.720 --> 0:14:38.080
<v Speaker 15>you've got they've got to make sure that they are

0:14:38.160 --> 0:14:42.000
<v Speaker 15>cheap enough. These propositions that the components they're building around

0:14:42.520 --> 0:14:45.240
<v Speaker 15>embedding AI into robotics and autonomous cars. They're going to

0:14:45.280 --> 0:14:49.000
<v Speaker 15>be cheap enough, pervasiveness and efficient enough to really be

0:14:49.280 --> 0:14:51.680
<v Speaker 15>a new business proposition for in video. So maybe that's

0:14:51.680 --> 0:14:53.840
<v Speaker 15>still a question mark for them, but clearly this is

0:14:53.880 --> 0:14:56.480
<v Speaker 15>a CEO and a team that's determined to push beyond

0:14:56.560 --> 0:14:58.760
<v Speaker 15>data centers to continue that growth.

0:14:59.240 --> 0:15:01.520
<v Speaker 3>Last minute time, with this vision laid out last night,

0:15:01.560 --> 0:15:05.880
<v Speaker 3>how important was it for Jensen Wang to overperform in

0:15:05.960 --> 0:15:08.360
<v Speaker 3>terms of what the market's looking for, particularly after that

0:15:08.520 --> 0:15:11.280
<v Speaker 3>last earnings report that seemed to underwhelm investors.

0:15:11.800 --> 0:15:14.360
<v Speaker 15>There's always a mismatch. Always there has been a mismatch,

0:15:14.440 --> 0:15:16.720
<v Speaker 15>hasn't there in terms of the concern has been There's

0:15:16.720 --> 0:15:18.480
<v Speaker 15>going to be a mismatch in terms of the expectations

0:15:18.800 --> 0:15:21.480
<v Speaker 15>from the markets versus what has delivered. And of course,

0:15:21.640 --> 0:15:24.400
<v Speaker 15>in historic recent quarters, bar that one the most recent quarter,

0:15:25.000 --> 0:15:28.280
<v Speaker 15>Nvidia managed to outperform those expectations. Now the expectations are

0:15:28.320 --> 0:15:30.920
<v Speaker 15>just so so high for many analysts, they're saying that

0:15:31.000 --> 0:15:33.160
<v Speaker 15>is the concern. How does Nvidia continue to meet those

0:15:33.440 --> 0:15:37.160
<v Speaker 15>meet those expectations. Microsoft delayed some of those fears, of course,

0:15:37.200 --> 0:15:38.640
<v Speaker 15>a couple of days ago when it announced it was

0:15:38.640 --> 0:15:41.120
<v Speaker 15>going to be spending about eighty billion US dollars on

0:15:41.440 --> 0:15:44.240
<v Speaker 15>data centers just this year alone, and of course Nvidia

0:15:44.640 --> 0:15:46.960
<v Speaker 15>will be a key part of that build out and

0:15:47.000 --> 0:15:49.440
<v Speaker 15>that spend and SATI in the Della speaking in India

0:15:49.480 --> 0:15:52.960
<v Speaker 15>earlier today, talked about the partnership between Microsoft and Nvidia,

0:15:53.000 --> 0:15:55.960
<v Speaker 15>but also the partnership between Microsoft and AMD, and that's

0:15:55.960 --> 0:15:59.440
<v Speaker 15>where the competitive question comes into play. For Nvidia, AMD

0:15:59.560 --> 0:16:02.720
<v Speaker 15>still only has a marginal slice and fraction of the

0:16:02.840 --> 0:16:05.120
<v Speaker 15>market share when it comes to AI accelerators, but they

0:16:05.160 --> 0:16:07.720
<v Speaker 15>are obviously determined to kind of close that gap, and

0:16:07.800 --> 0:16:10.560
<v Speaker 15>obviously a number of their customers and videous customers the

0:16:10.600 --> 0:16:13.960
<v Speaker 15>hyperscale is already spending on R and D develop their

0:16:13.960 --> 0:16:17.560
<v Speaker 15>own chips, and that underscores gentle One's distermination to go

0:16:17.600 --> 0:16:21.000
<v Speaker 15>beyond data centers into sovereign AI and now increasingly into

0:16:21.040 --> 0:16:22.360
<v Speaker 15>quote unquote physical AI.

0:16:22.720 --> 0:16:26.160
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