Bloomberg Daybreak: Europe Edition Mideast AI Chips Frenzy, 5% Defense Spending, Milan’s ‘Svuota Londra’ Bet
May 14, 2025
Jumana Bersetchi, anchor for Bloomberg TV’s Horizons Middle East and Africa, dives into the booming Gulf AI chip market fueled by major U.S. tech investments. The conversation highlights a surprising $1 trillion commercial deal between Trump and Saudi Arabia. Ethical dilemmas arise over a luxury jet from Qatar, sparking concerns in Washington. Meanwhile, Italy attracts wealthy investors post-UK tax changes, transforming Milan into a new hub for luxury. The talk also touches on the evolving landscape of NATO and defense spending amidst these global shifts.
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US AI Chip Export Policy Shift
- The US is easing AI chip export restrictions to Saudi Arabia and UAE under Trump's administration.
- This reversal replaces the Biden-era curbs that limited foreign access to advanced AI technologies.
Saudi-US Deal Figures Questioned
- The Saudi-US announced commercial deals vary widely in their reported totals, up to $1 trillion.
- The accuracy of these figures is questionable, as $1 trillion nearly matches Saudi Arabia's entire GDP.
Trump's Qatar Jet Controversy
- President Trump intends to accept a luxury jet gift from Qatar for temporary Air Force One use despite controversy.
- This decision raises multiple ethical and security concerns discussed in US political circles.