China's AI Dependence and the U.S. Housing Market Challenges

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This chapter examines China's reliance on Nvidia for AI development and the consequences of this dependency on their ambitions for artificial general intelligence. It also highlights the downturn in the U.S. housing market, particularly the decrease in lending for residential construction, which may impact future home supply and pricing.

Big tech groups including Nvidia led a broad US stock market sell-off on Tuesday, and Huawei’s AI chips are dealing with some bugs. Plus, US homebuilders are facing their biggest credit crunch in more than a decade, and foreign investors are backing out of Indian equities.

Mentioned in this podcast:

US homebuilders face credit crunch as banks cut lending

Huawei’s bug-ridden software hampers China’s efforts to replace Nvidia in AI

Global stocks slide as investors fret over US slowdown

Foreign investors pull out of frothy Indian equity market

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Peter Wells, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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