Peter Landers

The South Korean market down 8% today.

That is a reflection really of what investors expect about AI globally because these South Korean chip companies are serving a global market.

I think there's extraordinary sensitivity in the markets as to whether there is an AI bubble or not and how fast AI is going to keep growing.

We know it's growing super fast and companies like NVIDIA or TSMC, SK Hynix, all of these companies that are connected to the AI boom.

are seeing extraordinary rises in sales and profits.

So that's great.

The only question is, how quickly will profits continue to rise in the next couple of years?

And any hint that the rise may not be quite as rapid as expected can have a big impact on the market because the prices right now are reflecting anticipation that the growth will continue to be incredibly rapid for a long time.

Right.

If the Federal Reserve did raise interest rates, it might reduce investment perhaps in AI or just send a shutter through the economy that would bring growth down generally and perhaps cast a chill over the AI boom.

And again, anything that affects those growth forecasts really has the market on edge.

Right, and the IPO on Friday certainly will be a barometer of how much investors think this field is going to grow in coming years because right now SpaceX doesn't have the kind of revenues that a company like Apple or Amazon does, nothing like that, nothing close to that.

If you buy into a trillion dollar plus valuation for SpaceX, you are expecting amazing growth to continue for a long time.

And it may well do that.

And I think the IPO will be a test of what investors expect.

When I was in Beijing this summer, I had a chance to ride in a couple of Chinese robo taxis

And to your point, Ling Ling, even the Chinese robotaxi companies and experts in the field say that Google sister Waymo is probably ahead in the latest technology for autonomous driving.

The Chinese companies like WeRide, Pony AI, Apollo Go, they're definitely watching Google very closely.

And any paper that Google might publish about its algorithms for robotaxis, those are sure to be scrutinized carefully by the

the chinese robo taxi companies and so it's a race really to get global markets the us market is not really open to these chinese companies but other global markets are and it's a race who can get there first and spread their technology and i got the sense that china might ultimately win and set the global standard five to ten years from now just because their robo taxis are more affordable and i