Alice Han

And do you think this recent announcement of the H200 really changes the dynamic in this AI competition between the two powers?

And if I hear you correctly, you're saying that the chip side still remains significant in this broader AI competition, because if the Chinese can't create its own homegrown versions that are as efficient and as productive, then that's seriously going to be a limitation on their compute capabilities.

And we're seeing that knock-on effect with the models that have been coming out of China.

Is that correct?

Fascinating.

Well, let's shift to the US where we're talking a lot about an AI bubble.

And there's a lot of speculation as to whether or not NVIDIA GPUs have been oversold.

You've got a famous American hedge fund manager, Michael Burry, who famously predicted the 2008 housing market crash, who's saying that there were way too many NVIDIA GPUs that have been sold.

You have also been following this very closely, the data center rollout, where you've got trillions going into data center rollouts throughout America, the GPUs being used to power those data centers and ultimately power models like open AIs.

Do you think we're in an AI infrastructure boom bubble?

And more broadly, is the US style of approach to AI being seriously disrupted by these cheaper, more efficient and energy efficient models coming out of China?

And just to continue this line of questioning, Jeffrey Deng writes a lot about technology diffusion.

You know, technology is one thing, but you need to know how to diffuse it throughout the economy to unleash the productivity gains.

And I think a broader debate within the U.S.-China AI competition is which country is going to diffuse the gains of AI better.

You know, having studied both countries and the way that they approach technology, what is your sense of the two different pathways and who's ultimately going to diffuse technology better within the real economy?

Well, one last question I have for you is more about the military dual-use implications of AI.

Certainly, we saw the military parade in September where China was literally and metaphorically bringing out the big guns.

And there's a lot of talk about China's AI-enabled systems when it comes to, say, a Taiwan showdown.

You know, you talk a lot with folks in Washington.

I think it'd be very interesting for us to hear a little bit about how the state, the deep state, but also Washington writ large, is thinking about the way it wants to use AI in dual-use technologies and military hardware.