00:00Right, let's get to the NVIDIA story and bring in Annabelle Jewelers, of course, a tech correspondent here with us to help us understand the, okay, why don't you get us started?
00:09I think you guys actually got us started, but yeah, just to recap some of what you said there.
00:13So the Trump administration has decided to allow sales of the H200 shipped to China.
00:18This is something that NVIDIA has been lobbying for for several weeks, if not longer, and even as Jensen Huang in Washington, for instance, last Wednesday on this very topic.
00:27So H200 is a chip that's specifically designed or well-designed, has very strong inference capabilities, and inference is you're not training the model, you're not building those foundation models.
00:38Inference is really the deployment of that technology, and it's what allows AI to really be shifted or moved throughout the entire economy.
00:47It's something that will reshape businesses as well.
00:49So it is a very significant decision, and actually our geopolitics team or geoeconomics team has a really great takeout on this.
00:56And they're saying that this is actually the sharpest pivot we've seen yet on China's access to this technology.
01:02I think the key question and what we've been discussing all morning is really, even with H200 sales, will Chinese companies be allowed to purchase?
01:11They weren't allowed to purchase H20, but at the same time, H200 is a significantly more advanced ship than H20, which was designed specifically for the mainland market.
01:22But H200 was on sale to U.S. customers and others last year.
01:26I mean, this year you're ramping up into Blackwell architecture.
01:28Next year you're ramping up into Rubin.
01:30So China will still be a couple of iterations behind.
01:33But at the same time, this is way more advanced than what they can get in China right now.
01:38Yeah.
01:38And seeing as, I guess, sort of a compromise from the U.S. Trump administration as well.
01:43Meanwhile, we're hearing from the president talking about, you know, they want to do away with these sort of state-based AI rules.
01:49What would you know about that?
01:50Yeah, this is another one.
01:51So he's quite active on True Social, obviously, President Trump.
01:54And the other one that he was talking about overnight is this rule book for AI, because this has been another sort of complaint or issue with big tech in the U.S.
02:03And the way that it was shaping up was that you were having a lot of state-based regulations.
02:08So states were trying to protect consumers living in their own home areas.
02:12And so they were looking at rules to regulate the companies, again, on that state-based level.
02:17The U.S. wants to move it to federalized rules instead.
02:20And that is also to allow companies to essentially be able to operate more easily instead of trying to respond to lots of different regulations, have one regulation instead.
02:29And I think as well, the Trump administration has been very clear that they've moved in that direction of less regulation, which, again, is what U.S. big tech companies want to see.
02:40But it comes back to that bigger question of competition.
02:42And if you restrict companies, do you also restrict their ability to compete essentially what you see from China?
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