Nvidia CEO Jensen Huang fears China will win the AI race, as OpenAI asks the US government for "federal guarantees" and a "backstop". The unsustainability of the enormous AI bubble is becoming clear to everyone, and Silicon Valley Big Tech executives want to be guaranteed a bailout. Ben Norton explains.
VIDEO: https://www.youtube.com/watch?v=4odSW2lSUyI
Check out our related video on the AI bubble: https://www.youtube.com/watch?v=rXCVrLPTUHQ
Topics
0:00 (CLIPS) OpenAI wants US gov't "backstop"
0:31 US-China AI race
1:13 Nvidia sells shovels in AI gold rush
3:05 China restricts Nvidia chips
3:47 Nvidia CEO: China is winning AI race
5:50 AI bubble
7:21 OpenAI CFO asks for federal "backstop"
8:11 (CLIP) OpenAI CFO on US gov't support
8:51 OpenAI CEO Sam Altman
9:22 (CLIP) US gov't as "insurer of last resort"
9:49 Too Big to Fail 2.0
10:53 Sam Altman backtracks
11:58 OpenAI letter asks US gov't for support
14:32 Banning Chinese AI competitors
15:31 Trump supports OpenAI & Sam Altman
16:19 (CLIP) Sam Altman at White House
16:36 Sam Altman donates to Trump
17:03 Chinese open-source AI models
17:56 US corporations want monopolies
18:58 Peter Thiel & Sam Altman
19:34 (CLIP) "Competition is for losers"
20:10 OpenAI's circular financing scheme
22:32 OpenAI owes $1.4 trillion
23:24 OpenAI is losing money
24:42 Silicon Valley's business model: monopoly
26:15 China's AI advantage: electricity
27:08 The "electron gap"
28:24 Electricity generation: China vs USA
29:30 AI data centers drive up electricity bills
29:52 Electricity price in USA
30:36 Electricity prices: China vs USA
31:49 BlackRock buys up US power grid
33:02 Trump closes solar power projects
33:48 Trump cancels wind power projects
34:39 US fossil fuel corporations
35:12 Summary
36:34 Outro
