Nvidia Gains and Chinese Tech Stocks Sink | Bloomberg Technology

Nvidia and the AI Boom

• Nvidia's stock price is nearing its record high of $35 per share, driven by anticipation surrounding its upcoming earnings report and the expectation that spending on AI will remain strong. (2m11s)
• Jensen Huang is the CEO of Nvidia. (5m44s)

Tech Investments and Market Performance

• The NASDAQ Golden Dragon Index, which tracks Chinese tech companies, experienced pressure but is showing signs of rebounding. (1m31s)
• Texas Instruments, despite reducing capital expenditures, is viewed favorably by investors who believe this will improve the company's free cash flow. (5m1s)
• Microsoft and Alphabet are making significant capital expenditures in AI to establish a long-term presence in the field. (6m17s)
• Accenture, a leader in cloud computing, is investing $3 billion in AI and is expected to benefit as an implementer of the technology. (6m54s)
• Walmart sold its stake in the Chinese e-commerce company JD.com, ending an eight-year partnership. (11m46s)

Ford's Electric Vehicle Strategy Shift

• Ford canceled its plans for a fully electric SUV due to profitability concerns, with the company projecting a $5.5 billion loss for its EV unit this year. (13m37s)
• Ford is transitioning to electric vehicles by leaning on hybrid technology and focusing on smaller electric vehicle production. (15m45s)
• Ford plans to release a medium-sized electric pickup truck in 2027 that uses lower-cost LFP batteries, making its total cost of ownership cheaper than traditional vehicles. (16m5s)

Cybersecurity and AI

• Abnormal Security, a cybersecurity company, uses artificial intelligence to combat the rising risks of AI in cybersecurity, focusing on understanding and detecting abnormal human behavior within enterprise systems. (20m26s)
• Abnormal Security is planning on expanding its business into new markets internationally in Asia and Europe. (21m37s)

Automotive Industry Leadership Changes

• Uber has hired a former Tesla executive to oversee a shift to electric vehicles. (22m4s)
• A senior leader at Rivian is leaving the company to become head of manufacturing at Stellantis. (22m24s)

Chinese Economy and the Gaming Industry

• Chinese tech companies are struggling, particularly those exposed to consumption in China, as the broader economy faces challenges such as uncertain job prospects for youth and weak economic performance. (25m58s)
• Alibaba, a barometer for Chinese economic health, reported a shrink in its main commerce business, highlighting the divergence between the US and Chinese economies. (26m27s)
• Black Myth Wukong, a Chinese-developed video game, has become a sensation, attracting two million players on its first day of release, signaling a potential resurgence in China's $40 billion gaming industry after years of regulatory scrutiny. (28m17s)
• Black Myth: Wukong, a single-player, offline PC game, is being considered a victory for Chinese game developers. (30m41s)
• The game had 29 million viewers out of 130 million total viewers of streamed games on August 20. (31m50s)
• Black Myth: Wukong’s theme is based on the popular Chinese legend, Journey to the West. (33m16s)

Kamala Harris and the Tech Industry

• Kamala Harris is from the Bay Area, has experience in tech, and has been an advocate and supporter of the tech industry for a long time. (36m45s)
• Marlon Nichols believes that this election is about more than just tech, and that Kamala Harris is a better choice than the alternative with respect to human rights, freedom, and unifying the country. (37m18s)

MAC Venture Capital

• Marlon Nichols states that MAC Venture Capital has been a very successful fund, with roughly $600 million under management, making it the largest seed-stage fund in Los Angeles and one of the largest in the country. (39m23s)

SiriusXM and "Call Her Daddy" Deal

• SiriusXM signed a multiyear deal with Alex Cooper for her “Call Her Daddy” podcast and a network of shows. (41m19s)
• The deal gives SiriusXM exclusive rights to sell ads on the audio and video versions of Cooper’s shows. (41m27s)
• SiriusXM’s stock performance was down 24% over the past year, but the company’s market capitalization increased by more than $800 million after the deal was announced. (42m50s)