00:00I know that these AI bosses are now clashing with our very own president who came out on
00:04social media today criticizing them for wanting to put guardrails up on AI development. How much
00:11of this is really about AI and the race with China for the US? Well, from the president's
00:18standpoint, it's everything. He is saying that whoever wins in AI wins. And that was a statement
00:25he made while in Ireland for the Irish Open. And he told reporters that when asked about AI
00:32guardrails and whether there needed to be more restrictions on the technology, brushed off the
00:37idea and said that this whole question about safety really takes a backseat to the need to
00:43stay ahead of China in the competition to develop the most advanced AI. You also have to remember
00:50that Trump and his administration have made AI development a centerpiece of their economic
00:56agenda. They see it as an engine of job growth, and they really don't want to see any move whatsoever
01:02to upset the apple cart. And another social media post, he also questioned why anyone would want to
01:09kill, as he put it, the golden goose. And that is language he has used to defend the rollout of
01:15data
01:15centers across the country that many in America have started to take exception to. And it's something
01:20that's even emerged as a political issue in the midterm elections. Hey, Mike, so Chinese officials
01:25obviously rejecting those calls to slow AI for safety reasons, and also criticizing those claims
01:31by some American tech leaders that the progress by China pose a global security threat. So what ends
01:36up happening to the data center boom and also those valuations when you're thinking about a lot of
01:41those chip makers and other companies that are housed in that? You know, that is one of the big
01:46questions out there. What does this slowdown mean actually in terms of all the hundreds of billions
01:52of dollars in investments that are either planned or underway? And the two leaders of OpenAI and
02:00Anthropic made clear, hey, look, we do not intend to slow down overall our plans to grow our business or
02:07to
02:07make these investments. It's really just slowing our development of the most advanced models. Yet
02:12that wasn't as comforting as they thought it might have been to Wall Street investors who are really
02:18trading in the opposite direction. We see the Philadelphia Semiconductor Index, which is a benchmark
02:24of investment in in AI infrastructure. That's down by almost five percent today. And we're seeing
02:31losses in in key chip makers on the day from Micron Technologies, which specializes in memory
02:38components for AI processors. And then, of course, NVIDIA, the world's most valuable company, which has
02:44really built an industry defining business in making those GPUs that power data centers.
02:51Mike, today Microsoft came out with this manifesto, I guess we can call it, talking about what needs to be
02:58done in efforts to slow the development of AI. Can you tell us a little bit more about what's in
03:04that
03:04manifesto? Well, what they are trying to do is also make sure that their point of view as a stakeholder
03:13in all of this, they are not only a backer of OpenAI, but they do a lot of business with
03:18them. And they
03:19also agree that, hey, look, we need to make sure that humans stay in the loop, mostly in the development
03:25of AI. But it's a long manifesto, all 15,000 words of it. Whether it actually has that kind of
03:33concrete impact, though, Alexis, remains to be seen. And that is true also with the essay that
03:39Dario Amadei published on Saturday. In it, Amadei promised to have outside evaluators, third-party
03:47evaluators come into the company to get a firsthand look with badges and all at how these models are
03:54being developed even before their release. But that's a big promise. And there are many on Wall
03:59Street who looked at those pledges and started to wonder, are they really going to follow through
04:05with all of this? And there is a question about whether some of it is marketing. And just brought
04:10up earlier the question of the Chinese government. They have accused AI leaders here in the U.S.
04:14of fear-mongering, using the word from the Chinese foreign ministry earlier today. And they say that
04:22these companies are using it as a pretext to goad the government here in Washington into imposing
04:28restrictions that would undercut China's efforts to develop AI on its own.
Comments