RT Bloomberg Opinion (@opinion)Is the tepid reception of ChatGPT-5 proof of an AI bubble?@daveleebbg explains why the AI winter is almost here 🎥 https://t.co/AWuA1mCjVM ...

First of all, I think what Sam said and what I fully agree with is we think AI is the biggest thing, the biggest era that we've seen to date, right. Those of us who've had the the benefit of living through the internet era coming upon us, mobile era, AI is bigger than all of that. And I don't think any of that is slowing down.You look at infrastructure builds and so on, which you all care about, those stocks. Um, in terms of can there be moments where people invest in things that don't come to fruition, abs ...

A lot of these AI models are similar. They use the same neural net transformer architecture. They're a bit like airlines in many respects.You got a commoditized product with a huge amount of capex requirement. That's not a recipe for strong profitability or high equity returns. Open AI is a good example of the AI bubble.You've got a company that is losing a lot of money on the hope that eventually they're going to be able to significantly raise prices and generate enough revenue to cover their capex costs. ...

Summary of Key Points from the Conference Call Industry Overview - **Industry Focus**: The conference call primarily discusses the technology sector in China, particularly advancements in AI, robotics, and AI/AR glasses [1][2][3][4]. Core Insights and Arguments - **AI Investment in China**: The WAIC (World Artificial Intelligence Conference) indicates that China is heavily investing in AI, with over 800 participating firms and an exhibition area exceeding 70,000 square meters [1]. - **Potential Bubbles**: There are concerns about the emergence of "1.5 bubbles" in the AI sector: - **Humanoid Robots**: Over 90 new models were showcased, but there are significant technological constraints, high costs, and limited applications [1]. - **AI/AR Glasses**: Multiple companies are entering this space, but they lack differentiation and face technological challenges [1]. - **AI Chip Development**: Local AI chip development remains challenging. NVDA's CUDA and NV Switch/Link are seen as unmatched advantages. Huawei's Cloudmarix 384 Ascend 910C is noted for its inferencing capabilities but is not yet in mass production [2]. - **Robotics**: While humanoid robots are entertaining, semi-robots and robotic arms are viewed as more practical for industrial applications. The high cost of humanoid robots (~Rmb300K) limits consumer adoption [3]. - **AI/AR Glasses Market**: Despite the hype, AI/AR glasses are still considered niche products due to issues with weight, battery life, and LLM capabilities. Major players like Google, Xiaomi, and Huawei are launching similar products [4]. Additional Important Insights - **China Telecom's Innovations**: China Telecom is developing networks and software to facilitate the movement of computing power from the west to the east, aiming to become the official operator of a computing power trading platform [6]. - **Cost Considerations for Robotics**: The estimated price point for industrial customers to consider humanoid robots is between Rmb100K-150K, which is comparable to 1.5 to 2 years of an unskilled worker's salary [3]. - **Government Support**: A recent government policy paper supports the establishment of a computing power trading platform, which could enhance AI growth in China [6]. Conclusion - The technology sector in China is experiencing rapid growth, particularly in AI and robotics, but faces significant challenges that could hinder widespread adoption. The focus on practical applications and cost-effective solutions will be crucial for future developments in this space [1][2][3][4][6].

Morning Brief: Market Sunrise anchor Ramzan Karmali breaks down the latest international finance news for July 21, 2025. US Commerce Secretary Howard Lutnick reaffirmed Sunday that August 1st is a hard deadline for tariffs. Yahoo Finance's Executive Editor Brian Sozzi raises the possibility that there may be an AI bubble starting. Sozzi speaks to market insiders about AI and price-to-earnings ratio for AI stocks. #youtube #stocks #ai #trump #tariffs About Yahoo Finance: Yahoo Finance provides free stock tic ...

Summary of the Conference Call Industry or Company Involved - The report discusses the stock market dynamics and economic conditions in 2025, drawing parallels with the year 2000. Core Points and Arguments 1. **Investment Playbook**: The report suggests that a good investment strategy for 2025 is to view it as '2000 with some tweaks' [4][3][22]. 2. **Similarities Between 2025 and 2000**: - Both years experienced a countertrend rally in the stock market before a tech bubble deflation [4][6]. - The US economy is not heading towards an imminent recession [4][24]. - The Federal Reserve is unlikely to significantly cut interest rates [4][24]. - Stock market peaks in both years followed unusual 40% rallies in the S&P 500, concentrated in tech stocks (AI in 2025, dot com in 2000) [9][8]. 3. **Differences Between 2025 and 2000**: - The US stock market and government bonds are expected to underperform compared to non-US markets [4][24]. - The dollar is projected to underperform against other major currencies [4][24]. - The AI bubble is less extreme than the dot com bubble in some measures [17][19]. - The trend growth rate of the global economy is lower in 2025, increasing vulnerability to recession [19]. - Global indebtedness is significantly higher in 2025 than in 2000, giving 'bond vigilantes' more power [19]. - The political landscape, particularly the arrival of President Trump 2.0, has affected the haven status of US T-bonds and the dollar [19]. Other Important but Possibly Overlooked Content 1. **Global Economic Shock**: In both years, tech stock selloffs were triggered by global growth shocks, with 2025's shock stemming from a trade embargo on China [12][12]. 2. **Labour Market Conditions**: The US labour market in both years showed a rare configuration where labour demand exceeded supply, with job vacancy rates unusually high compared to unemployment rates [11][13]. 3. **Future Projections**: - A countertrend rally in tech stocks is expected through early summer 2025, with the S&P 500 potentially reaching over 6000 before a resumption of the AI bubble's deflation [24]. - A mild recession in the US could occur in 2026 due to a 'negative wealth effect' [24]. - The Fed is unlikely to cut rates significantly in the latter half of 2025, similar to the second half of 2000 [24]. - Preference for UK gilts over US T-bonds and for currencies like the Japanese yen and Swiss franc over the US dollar is advised [24].