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A financial review after the Muhurat trading session with Nifty near 25000 and PSU bank gains. Government caps margins on anti-cancer drugs. NVIDIA CEO controversy discussed.
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00:08Good afternoon dear viewers, you are watching the Business Today show with me Sakshi Patra.
00:12This is where I get you all the stock market closing action on Dalal Street.
00:15But first up, let's take a look at what's hot in the corporate and the financial world.
00:21Markets trade mixed after Mohorod trading.
00:23We have seen Dalal Street trades choppy after the Mohorod trading session.
00:27Also ended mixed with indices now swinging between gains and losses.
00:31You're looking at the Sensex edging slightly higher near 81,000 while the Nifty trades near 25,000 mark.
00:38Pharma and PSU banks are outperforming while IT stocks are dragging.
00:41Meanwhile, the rupee has strengthened against the dollar hitting its highest level since April 21st.
00:50Retail inflation is expected to hit a two-year high of 6% in October
00:54touching the upper end of the RBI's tolerance ban.
00:57Rising food prices and a weak monsoon drive have driven the surge.
01:00Also, October CPI data will be released on Thursday.
01:08Gold and silver extend their post-Diwali rally with prices rising on both MCX and COMEX.
01:13MCX, easing crude oil prices, easing inflation concerns and a weaker US dollar have boosted the demand.
01:19MCX Gold now trades 1,000 rupees higher at 1.44 lakh rupees per 10 grams,
01:23while silver has climbed 2,000 rupees higher, now is trading at 1.87 lakh rupees a kilo.
01:33NVIDIA shares slide nearly 4% in overnight trading after CEO Jensen Wang admits to an affair
01:38and the company's board launches a probe.
01:41The investigation raises the leadership concerns just days ahead of the November 18 earnings.
01:50A new landmark for Indian stock market, the National Stock Exchange
01:54unveils the design of its proposed headquarters in Mumbai's BKC.
01:57The project designed by Hafiz contractor will span nearly 11,000 square meters.
02:10All right, viewers, let's straight away welcome our top guest.
02:13We have Mr. Devine Choksi, MDDR Choksi Fincerf, joining in on the program.
02:18Warm welcome to you, sir.
02:19Thank you so much for taking the time out for this conversation
02:22and wish you a happy summer 2083.
02:24This is the day one after the Mohit trading where you were also with us.
02:28We'll start off by taking the first cues from you.
02:32Today, of course, we are seeing, you know, very volatile action
02:35and at the same time just a day ahead or day after Diwali
02:39and in a truncated week, the action seems to be slightly cautious.
02:43How are you reading into the early sentiments
02:45as far as the new summer theory is concerned, Devine, sir?
02:56Can you hear me, Devine?
03:00All right, I think we are going to be fixing that line very quickly,
03:03but let me quickly read out to you all the viewers
03:05how the markets are panning in the last 20 minutes of trade.
03:09We're just shy of 25,000 at the moment, 10 points higher, 24,996.
03:14But we've had a choppy day so far,
03:17but Nifty Bank is really the one that is climbing in
03:19and you're looking at 1.2% gains come in.
03:22So it's the banks that are taking the lead today,
03:24especially led by the PSU banks.
03:27Look at the smart rally that's unfolded on day one of Vikram Sambath here
03:31as far as the PSU banks are concerned.
03:343.5% higher at the day's high.
03:36We're also looking at pharma, financial services, private banks,
03:40real estate, autos also pull up in the session.
03:43But look at the names within the PSU banks.
03:45We have SPI that's leading the rally, with the rest of them follow suit.
03:48In fact, Devin is back with us.
03:50Warm welcome and good afternoon to you, Devin.
03:52If you can hear me, I wanted to wish you a very happy new Samwath year, 2083.
03:57You were with us during the Mohr trading session.
03:59We discussed so many factors that will be driving markets in this new year.
04:03But how are you looking at the first day's sentiments?
04:07We're also in our truncated action.
04:09Tomorrow is a market holiday.
04:10So, you know, of course, the starting is very cautious.
04:13But look at the banks that have taken the lead today and the PSU banks particularly.
04:17How are you looking at this pocket starting to outperform right from the very beginning?
04:22Yeah, Sakshi, wish you festive greetings as well.
04:27Happy Diwali.
04:28And in advance, happy new Samwath year, 2083.
04:32Well, I guess I think the banks rising up is also for two reasons in my viewpoint.
04:39The earlier threat was that interest rate will continuously rise and I think it will know
04:45respect for that.
04:47In my understanding, given the kind of softness in the situation with the crude oil and the
04:53resultant impact coming on to the inflation and interest rates, the steep rise in the interest
05:00rate may not be seen going forward.
05:02But if that sustains, if this rate, crude oil rate sustains, then I think the global economy
05:08returns to normal in a given situation where the war is called off.
05:13Suppose if these assumptions hold true, then probably I think we are likely to see the benefit
05:18in form of the lower interest rate.
05:21Lower interest rate would also mean that I think the negative impact onto the mark-to-market
05:26books of the public sector banks in particular, I think will not be seen negative.
05:31And that's where probably some amount of buying is justified.
05:35Second reason for which the buying is justified and we anticipate that the government is preparing
05:41for the consolidation round two as far as public sector bank is concerned.
05:47And should they end up bringing up the formula for consolidating public sector banks and make
05:53the larger size banks in the process, then in such situation, I think some of the valuations
05:58which are right now languishing at around one-time price-to-book value will hold a chance
06:03to re-rate themselves.
06:05Given the kind of financial health of some of these banks, I think there is more possibility
06:10of re-rating the valuation than otherwise.
06:13These are the two main fundamental reasons for which I find that possibility of banking stock
06:20coming up going forward in the market case with the better valuation than what they are
06:26currently quoting yet.
06:28Okay.
06:29Devan, sir, I also wanted to understand how are you gauging the RBI's upcoming policies
06:35and the actions that the RBI might take?
06:37We, of course, have had one rate high, you know, along with what's happened globally with
06:43various central banks, with the US Fed, with the ECB.
06:46But looking at after the US midterm elections, how scenarios may change, and we all spoke
06:53about the factors.
06:54We're looking at the crude oil prices easing.
06:57You also just pointed out about any signs of the war being called off will be a big,
07:02big move.
07:03How do you see the rate cycle moving from here?
07:06That will be the only thing that the markets will look at that might have some kind of an
07:12impediment, you know, micros when we talk about in terms of the move going forward.
07:18Well, I think apart from the crude oil and related issues, I think this time around another
07:24bigger challenge is related to the drought in some pockets of the country.
07:29And that could possibly mean that they require support at this level.
07:34Frankly, in a normal situation, they would have increased the rate of interest given the
07:39kind of inflationary pressure that they may be experiencing.
07:42In this situation, it will be difficult to say, at least I think at this point of time,
07:47whether they would like to increase the rate of interest and put economy into further stress.
07:52Maybe currently the situation is that in the tier two, tier three, automatically because
07:57of the drought situation, the purchasing power is likely to be get affected.
08:02And that's the reason for which immediately they may not be wanting to increase the rate
08:07of interest having raised once.
08:10So in this particular policy, even if they raise this rate of interest and need to safeguard
08:15the economy against any untoward outcome, I would think that in subsequent quarter,
08:21the reviews, I think they would stay put on increasing the rate of interest.
08:25So this is one important point, which I believe will have to be taken into account by the RBI
08:30and the MPC are deciding to increase the rate in the coming situation.
08:35Important point there.
08:37Since you also did talk about the inflationary pressures, just wanted to get your sense on
08:41the entire FMCG space.
08:43You know, we have seen even in the current quarterly earnings, the kind of commentary that
08:48the management has done and given out in terms of the cost pressures that they've been facing.
08:53There is a further pressure that's expected to be as a, you know, overhang, continue to be
09:00there as far as Q3 and Q4 are also concerned.
09:03We're awaiting Thursday's numbers as far as inflation is concerned.
09:07And most of the reports are pointing out to a 6% retail inflation that could be on the
09:11upper end of the RBI's own outlook as well.
09:14Once that really comes through, do you still see pain continuing for these consumption-oriented
09:19pockets that have been underperformers?
09:22Well, challenge is definitely seen.
09:25We cannot rule out the challenge.
09:27Obviously, I think the same wallet is not available for the rural consumer to consume at this point
09:33of time because of the unavailability of the realization of crop due to the situation,
09:39drought-related situation.
09:41So to that extent, if you are asking me, yes, I think naturally the demand scenario is going
09:46to remain tapered for most of the consumption companies in coming two quarters.
09:53If that continues to be so, if they are not in a position to pass on the cost, input cost,
09:59which is rising largely because of the commodity prices moving in an adverse direction, I think
10:06that some impact on the working of the FMCG cannot be ruled out.
10:10Now, whether we are exaggerating this particular aspect and saying that I think significantly
10:16large amount of dent would come out to the FMCG company, today at least at this point of
10:22time, it is not looking like that it will be a very significant dent.
10:25But yes, I think some pressure on the margin and some cap on the upside of the top line,
10:32both will be experienced in coming months as I see it.
10:36So let's wait and see.
10:37Instead of speculating, I think we'll wait and see.
10:40Yes, I agree that I think most of the FMCG companies are adequately valued today.
10:45So certainly if no buying interest emerges, I think then they may have a pressure on adjusting
10:50to the downside on the valuation.
10:52So let's wait and see, but at this point of time, we don't have any further view on
10:56the FMCG counters from the investment perspective.
11:00Okay.
11:00Let's also focus on the pharma space.
11:03In fact, we'll cater to a big news development today and then we will take Devan Shah's view
11:08on the entire pharma space.
11:09A major relief for cancer patients across the country is here because the government has
11:14now slashed prices of 137 anti-cancer drugs with reductions of up to 96%.
11:19The move is expected to bring annual savings of up to 3,500 crore rupees for the patients
11:26with revised prices coming into effect from today.
11:29But what does it mean for patients and which cancer treatments will actually become significantly
11:34more affordable?
11:35I have with me my colleague Neetu Chandra Sharma joining in to take us through the changes
11:40there.
11:40Neetu, Grafton.
11:41First up, the government has capped the trade margins on 137 anti-cancer medicines at 30%.
11:47What does it mean for the patients?
11:49How much cheaper, you know, does it make these cancer treatment medicines?
11:54And how much cheaper will the overall cost of the treatment also become?
11:59Yeah, good afternoon.
12:00So, actually, this is an important intervention because, you know, cancer medicines are among
12:04the biggest contributors to the, you know, household healthcare expenses.
12:08Now, as per the development, the government has capped trade margins at around 30% on 137
12:15non-scheduled anti-cancer medicines.
12:18These are including patented drugs.
12:20Now, the revised prices come into effect from November 9th.
12:23The companies have reported price reductions ranging from around 20% to 70% on an average,
12:29with the steepest reduction at around 96.45%.
12:34Now, the estimated savings for patients stand at over Rs. 300, 357 crore rupees and based
12:43on the sales volumes during the 25-26 fiscal year.
12:47Now, the idea is to reduce excessive markups between manufacturers, distributors and pharmacies
12:53and to ensure that the patients are not paying, you know, disproportionate high prices for
12:59these life-saving drugs.
13:01So, it is definitely going to save a lot of money for the patients going forward.
13:06And that's this, actually.
13:08Yes.
13:09Absolutely.
13:09But a lot of people would want to know, does it mean all cancer medicines will become cheaper
13:13and how can patients ensure that they are getting the benefit of these price cuts?
13:18Yes, actually.
13:19So, there is a distinction here.
13:20Not all cancer medicines are covered by this particular order.
13:23Now, the new regulation applies specifically to 137 identified non-scheduled anti-cancer medicines.
13:30So, it does not mean that every cancer drug in the market will see a price reduction.
13:35So, patients will have to be cautious about it and they should also understand that a 30%
13:41trade margin cap is not same as a flat 30% reduction in the price of every medicine considering that.
13:48Now, the actual reduction varies from, you know, drug to drug depending upon its earlier pricing
13:53and the distributor price.
13:55So, patients can check the revised maximum retail prices on the NPPA website and through
14:00the PharmaSahidam mobile app as per the government.
14:04So, hospitals and pharmacies are also required to display the revised prices as per the notification
14:09and a patient should compare their bills with the newer MRP and ask questions if they
14:15are being charged more.
14:16So, patients have also to be cautious.
14:18Ultimately, this is a step towards, you know, greater price transparency and affordability.
14:23But the larger challenge, you know, it continued to be there and it remains that ensuring that
14:29affordable medicines are, you know, consistently available and accessible to cancer patients
14:34across India, Sakshi.
14:35All right, Neetu.
14:36Thanks a lot for getting us those updates.
14:38So, definitely good news coming in.
14:39You know, we can expect at least 137 medicines for cancer treatments to get more affordable,
14:45thereby making the overall treatment cheaper.
14:47But, of course, awareness needs to be done and we'll have to see how the authorities can
14:51ensure that these prices consistently remain more affordable going forward as well.
14:56Let me go across to my guest, Devin, who's with us.
15:00Devin sir, first up on the pharma sector as a whole, not just on this news, but we have
15:05seen an outperformance in the previous summer of the year for the pharma index.
15:09The index was up 24%.
15:10In fact, when the entire world was grappling with so much of uncertainty of the war and
15:16tariffs, pharma was seen as a bright spot because it was domestic-oriented, largely healthcare
15:21was seen as domestic-oriented.
15:22All of these spaces were seen as preferred sectors by a lot of analysts.
15:27Come now, when there is some kind of a regulatory intervention coming in, of no doubt, these
15:32are good steps for the consumers.
15:33How would you, as a market participant, be analyzing when the government comes in with
15:38such measures?
15:39How should one really look at hospitals, pharma companies?
15:44Out of the three stakeholders, the patient definitely benefits.
15:50The second stakeholder, which is pharma company, according to me, neutral effect.
15:55I think not major change as far as they are concerned because in any case, they have been
16:00giving significantly large amount of discount to the hospital segment, hospitals in complete
16:08sense.
16:08So from that particular aspect, I think their balance sheets are unlikely to get severely
16:13affected.
16:14As far as the hospital segment is concerned, I think they will find out the ways to collect
16:19the kind of service cost for treating patient, which they otherwise have been collecting by
16:24way of some hefty margins into pharma products in the given situation.
16:28So it remains to be seen how exactly they will operate on that front.
16:31But certainly, as of now, the discount on the medicine, which basically they have been bargaining
16:38for, it has now come to the parity level.
16:41So obviously, I think they will have to find out, I think, the other way to recover this
16:46kind of cost for treating the patient, which they were up to now recovering from the pharma,
16:50the medicines particularly.
16:52As of now, we don't have any specific view on any particular hospital at this point of time.
16:57But we will be watchful about, I think, how things play out as far as their rising recognition
17:02is concerned on the patients.
17:04Okay.
17:05And now, because it's day one of the new Samwath here, I just wanted to understand for a lot
17:09of viewers who may now be looking at this opportunity to maybe rejig their portfolios, design their
17:15portfolios afresh with changing macros and scenarios.
17:19What can you guide all our viewers of India Today and Business Today Television?
17:23How to approach their portfolios at this point in time?
17:26What changes are needed to be done?
17:27Are there specific sectors that are at the brink of an outperformance and therefore one must
17:32include them, whereas any cautious statements that you would still want to have, you know,
17:37all our investors and viewers have in mind, even as they invest in this new year?
17:42So, Sakshi, I believe investing is a very patient game, actually.
17:46I think one cannot be, I think, changing the portfolio every now and then.
17:51Having built the portfolio in a systematic manner, I think allow that portfolio to work for
17:55a good time and then possibly, I think, do any changes.
17:59And if you do not have that ability to structure the portfolio with a systematic approach, definitely
18:05you as an investor require to avail the services of somebody who basically understands this
18:10subject better, the advisor, investment advisor in particular.
18:15Having said that part of it, I think what exactly we are looking at, we are looking at one
18:20larger theme, the theme that we are looking at is the bigger companies have a better ability
18:26to make larger profits because of the size of the profit that they've been making, the
18:33amount of reinvestment that they would be doing in the business, which will generate significantly
18:38large amount of profit in next 10 years.
18:41For example, if companies like Reliance who reported two lakh per old plus kind of EBITDA
18:47in 2026 March, this year they could possibly earn in the VCDK from 2,55 to 2,70,000 crores,
18:57depending on how much dividend they receive from Jio platform as well.
19:01So all this put together, I think it's a significantly large jump on an already large profit base.
19:06Now, if they successfully apply this particular ability to generate higher amount of profit,
19:13their ability to deploy that money back into the business could generate significantly large
19:17profit for the longer period of time.
19:19So we believe that I think the big is getting bigger is a theme that investors will have
19:24to look out for.
19:25Second most important aspect that investors should look out for are the two components.
19:30One, whether the renewable energy component in the portfolio of the company is increasing.
19:35If it does, then I are very sure that I think there is going to be an ability to have
19:41better
19:41profitability on every rupee of sales that you do or a revenue that you generate.
19:45So that is an important aspect as we see it.
19:48And third part is whether you are employing AI to the advantage in form of, I think,
19:54either increasing the scale or the growth or the saving in the cost because of the processes
20:01improvement, if that does happen, then probably I think you are a winner as far as the profit
20:05and profitability is concerned.
20:07So we look at these three aspects very systematically in every single company.
20:11And we do not want to name it that one particular sector or a company benefits out of it.
20:17We feel that I think this is an era where the larger part of the footprint will get created,
20:22where efficient most companies will take the first advantage out of this situation.
20:27Absolutely.
20:28Let's now start to take some queries with you, Devin sir.
20:31We have a lot of our viewers sending in some questions.
20:33So we'll pick out two or three.
20:35Sharad Jain from Vadodra asks you, is it a good time to start investing in PSU banks
20:40if I'm a long-term investor and what banks will you recommend?
20:45So honestly speaking, valuation-wise, many of the PSU banks are at a comfortable level.
20:52My less conviction is about I think how they are going to compete in a given situation
20:58where I think the dynamism is increasing as far as I think the product launch is concerned.
21:04Many of the private peers at this point of time are using the front-end fintech technology
21:10to that level wherein they are processing the loan faster to the end customer.
21:15In the process, they are breaking down the cost of I think supplying the loan to the customer
21:20and at the same time I think they assess the credit risk far better.
21:24That clarity, unfortunately, I am not caring for public sector banks.
21:27I am not in a position to give somebody an advice whether should you buy public sector bank
21:32at the cost of private sector bank.
21:35Yes, only on valuation which is fairly known to me where I would think that valuation-wise
21:40the things downside risk remains protected at least at this point of time,
21:44how much upside one could get not in a position to quantify.
21:49Okay, fair point.
21:50Let's also take Prerna Ghosh's question next.
21:52She's from Kolkata and she wants to know from you that between FMCG and quick commerce sectors,
21:58which one should she look at for and which one offers better investment opportunities?
22:03So for capital protection, no doubt FMCG companies offer you better protection
22:08because they are regularly generating cash flows.
22:11And that's where probably I think you are slightly better off compared to quick commerce companies
22:16who may not be able to sustain this kind of run which currently they are having
22:21in the form of losing capital and every transaction that they have been encountering.
22:27Some of the quick commerce companies have already started generating cash flows.
22:32But that cash flow compared to the market capitalization of those companies
22:35I think is significantly lower.
22:37As much as I think I would say that I think 1% of the market capitalization
22:41would be their cash flow.
22:42So we probably feel that I think that's a level at which they are becoming expensive.
22:47In my viewpoint, I'm not worried about the demand scenario
22:50catered by the quick commerce company.
22:53I'm more concerned about at what valuation you buy this company.
22:57So that is why I want to play safe that in any correction or a sharp fall in FMCG
23:02would be a better choice to buy vis-à-vis I think something which is more expensive
23:06and where we do not have the clarity as to how much profit they will earn
23:10in subsequent years' time.
23:12Okay, I hope this has also answered your question well.
23:15Thank you so much, Devan sir, for being with us on the show
23:17and advising all our viewers there and sharing with us all those insights.
23:21Happy summer 2083 once again to you.
23:23All right, viewers, we'll quickly look at how the markets are looking to shut shop today.
23:28We are at 3.30, 25,044.
23:30So towards the end, we managed to pull up towards the day's high point.
23:33Two-tenths percent higher.
23:34Some gas impact also right ahead of the truncated holiday.
23:38We managed about 58 points of a gain.
23:40On the Nifty Bank, of course, that's the one to thank for
23:43the kind of move that we've seen today.
23:44One and a half percent higher for the Nifty Bank Index
23:47led by PSU banks that we've just discussed, 3.7 percent higher.
23:51Valuations look appealing at this point in time,
23:53but there are several other reasons and factors
23:55where Devan said that he would still go on and prefer private banks.
23:58But Pharma Index is up by 1.6 percent.
24:00We did discuss that as well.
24:02An outperformer of the previous Samwath year
24:04and continues to show us positive signs in the new Samwath right at the beginning.
24:08Real estate up by 0.7 percent,
24:10but barring just FMCG and metals and even IT,
24:14the rest of all of the pockets have managed to pull up.
24:16This is despite the fact that India WIX is down by 5.5 percent
24:19at 17.4 out levels.
24:21On the Nifty, the top movers,
24:23let's pull up that list on your screens as well.
24:26State Bank of India is the top mover, 2.5 percent higher.
24:29We also have the Infrastructure Poster Boy, L&T,
24:33leading again 1.8 percent higher.
24:35HDFC Bank about 1.7 percent up.
24:37These are the top three winners.
24:39Along with this, we also are seeing trend from the retail pack.
24:42ICICI Bank and NTPC also form the list of top five movers on the Nifty.
24:46On the declining side, however,
24:48you have names like metals names,
24:50Tata Steel declining 2.8 percent.
24:52IT names, HCL Tech, Infosys Tech, Mahindra all down.
24:55ITC is down from the FMCG pack.
24:57And Ultratech Cement also seen some declines at this point in time.
25:01But time to bring you another big news
25:03that we've been covering since morning for you
25:05on both Business Today and India Today.
25:07NVIDIA CEO Jensen Huang is facing a major controversy
25:10amid allegations of a possible Chinese intelligence honey trap.
25:15China has dismissed the epsych allegations
25:18as completely groundless.
25:20But meanwhile, NVIDIA's board has ordered an independent investigation.
25:23What lies behind this controversy
25:26and could it impact NVIDIA is the big question.
25:28Let's look at the special report.
25:35He built the company that powers the artificial intelligence revolution.
25:41Welcome to GTC.
25:43Turned a chip maker into the world's first five trillion dollar corporation
25:47and became one of the most powerful men in technology.
25:52But now, Jensen Huang, the billionaire boss of NVIDIA,
25:57finds himself at the centre of a possible Chinese honey trap scandal.
26:02An alleged spying operation, an admitted extramarital affair
26:08and a formal boardroom investigation have all raised a question
26:12that extends far beyond one man's private life.
26:16Could the secrets of America's AI powerhouse have been at risk?
26:25NVIDIA's board on Sunday ordered an independent investigation
26:29into whether its founder and chief executive
26:31was targeted by a foreign intelligence operation
26:35with independent directors and outside lawyers
26:38tasked with examining the evidence.
26:41Earlier, Huang acknowledged being unfaithful to his wife,
26:45apologising to his family and colleagues
26:47while insisting he will cooperate with the investigation fully.
26:53Crucially, NVIDIA says it has no reason to believe
26:56that company secrets or American national security
27:00were compromised and its board continues to back Wong's leadership.
27:06At the centre of the allegations is Alice Wong,
27:11a former executive of Singapore-based Omega Speed,
27:14a company that purchases NVIDIA's artificial intelligence chips.
27:20According to a New York Times report,
27:22late October, Huang had a personal relationship with the businesswoman,
27:26whom American authorities suspected of acting on behalf of Chinese intelligence.
27:31Megaspeed has also faced scrutiny over suspicions that restricted American chips
27:38could have been diverted towards China,
27:41although NVIDIA has defended its dealings with the company as legitimate.
27:46China has rejected the espionage,
27:49reporting accusing its authors of attempting to discredit China.
28:02The controversy comes at a particularly sensitive moment
28:06in the technological contest between Washington and Beijing,
28:10where NVIDIA's most advanced chips are treated not simply as commercial products,
28:15but as strategic assets.
28:17American export restrictions have sought to keep some of those chips out of Chinese hands.
28:23And senior Republican lawmakers have now requested a closed-door briefing
28:27from Wang on the November 18th.
28:31And the scandal has now reached the White House,
28:34where President Donald Trump,
28:35who publicly celebrated Wang's contribution to American technology
28:40just a month ago, refused to turn his back on the NVIDIA chief.
28:46I think he's an honourable guy.
28:47I think he probably has an excuse for it.
28:50Yeah, you have to hear it.
28:52No, you can't do that with people.
28:54He was, uh, he's done an amazing job for our country.
28:59The internet has meanwhile turned the potential international spying scandal
29:03into a viral spectacle,
29:04with jokes about the age-old honey trap,
29:08satirical takes comparing billionaire to the biblical Samson,
29:12and comments questioning how a man who helped build the future of artificial intelligence
29:17could find himself caught in such an old-fashioned intelligence controversy.
29:24For NVIDIA's investors, however, this is no laughing matter.
29:28The company that once crossed the $5 trillion valuation mark
29:32has already been facing questions
29:34about the sustainability of the artificial intelligence boom.
29:38And this controversy only adds an unwelcome new layer of uncertainty.
29:44Wang is not merely NVIDIA's chief executive.
29:46He's also its co-founder, chief salesman,
29:49and a global public face,
29:52making any question about his future
29:55a question about the very company's direction.
30:00Bureau Report, Business Today TV.
30:05And before we leave you, viewers,
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30:12and this one is our luxury special issue,
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30:39Grab your copy from the stands
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