Bloomberg Daybreak: Asia Edition Early Talks on Nvidia H200s to China, Week Ahead for Markets
Nov 24, 2025
Helen Zhu, Managing Partner and CIO at NF Trinity, shares insights on early US discussions about Nvidia’s H200 chips for China, impacts on supply chains, and current market risks. She details the unwind of the AI trade, warning about credit risks and systemic vulnerabilities. Grace Glockner from Scharf Investments discusses low consumer sentiment and a K-shaped recovery, advising a pivot towards steady companies like those in healthcare rather than high-flying AI stocks. They highlight the importance of selective opportunities for the year ahead.
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AI Trade Fueled By A Global Feedback Loop
- The AI trade became a global, positively reinforcing loop as valuations, funding and CapEx expectations fed each other.
- Recent supply constraints and capex pushbacks created worries that pace may miss very elevated expectations.
Supply Limits Threaten AI Pace
- Supply-side constraints like power, labor and data-center delays risk slowing AI rollouts despite big planned CapEx.
- Most hyperscaler spends are multi-year commitments that likely won't generate near-term cash flow or ROI.
How NF Trinity Uses AI Daily
- NF Trinity uses AI apps to search and summarize research reports instead of manual scanning.
- They also dump disparate databases into LLMs to automate targeted data queries and analysis.