Trump and Xi Spotlight AI, Xi Presses Trump on Taiwan, More
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What did Trump and Xi say about the future of AI competition?
AI is entering its most consequential phase where scale, safety and sovereignty will determine who leads and who lags. Join Bloomberg Tech in London on November 2nd and 3rd as global leaders across business, finance and policy examine the defining trade-offs shaping the future of AI. Thank you to our presenting sponsor, Salesforce, and supporting sponsors, IDA Ireland and Schneider Electric. Learn more at BloombergLive.com slash Tech London.
News when you want it with Bloomberg News Now. I'm Doug Krisner. President Trump and Chinese President Xi Jinping addressed the competition between the U.S. and China today over artificial intelligence. At the summit of these two leaders, Trump argued for unfettered development of AI. However, Xi indicated an openness to setting boundaries and ensuring the development of AI is always under human control. Here is Bloomberg's Mike Shepard.
China certainly has raised its own safety questions toward the U.S., especially with the development of advanced models like Mythos, which have that super capability to break into almost any system, at least according to Anthropic. So we do see a little bit of divergence between the two leaders there. But that does not mean that there will be any sort of grand bargain coming out of this on AI.
How is the U.S. Senate vote affecting the potential Iran‑Hormuz Strait deal?
That is Bloomberg's Mike Shepard. At the same time today, President Trump hailed what he called a truly great friendship with Xi Jinping. And Xi said he is willing to create a more stable, sustainable and healthier future for U.S.-China relations. Here is Montana Republican Senator Stephen Daines.
I think when you step back, it's just very important to remember that the United States and China are the two largest economies in the world by far. They comprise about 42% of the world's GDP. It's the world's two largest militaries. Of course, the two countries that have leadership in terms of frontier models of AI. So I look at this relationship as really too big to fail.
That was Montana Republican Senator Stephen Daines. Separately today, China's Xinhua News Agency reported President Xi saying the U.S. should adhere to the correct position on opposing Taiwan's independence. negotiators for the U.S. and Iran are exploring a phased deal to reopen the Strait of Hormuz.
Why are rising oil prices and Treasury yields causing concern for inflation?
This would include the U.S. lifting its naval blockade of Iranian ports. Now, Qatari officials mediated negotiations on the sidelines of the U.N.' 's General Assembly. We are told the deal would be similar to the Memorandum of Understanding struck in mid-June, although that did collapse just weeks later. Here is Bloomberg's Dina Isfandieri.
If this goes through, and I have to say I'm quite sceptical, it's definitely good news. But it would be temporary and there would be a lot of scope for it not to be implemented properly. And that really is what I'm worried about. Because I think that neither side right now, not the Americans, not the Iranians, neither side is really ready to make the concessions necessary in order for the war to end in a lasting manner. And that's the problem.
That is Bloomberg's Dina Esfandieri. Interestingly today, a White House official said President Trump does remain open to talking with Iran, although he doesn't need to negotiate because the U.S. is in a strong position.
What are the implications of the UN General Assembly debate on Israel‑Palestine?
The Republican-controlled Senate defeated a Democratic resolution to end the war in Iran in a very close vote, 49 to 50. More from Bloomberg's Amy Morris.
The vote was largely symbolic, but it was also seen as a chance for vulnerable Republicans to distance themselves from the war ahead of the midterms. Several Republicans said they would like to see the war end quickly, but they're not yet willing to rein in Trump's power to wage it. Most Republican senators facing voters in the fall opposed the resolution. Voters are anxious about the war driving up prices, and endangered GOP lawmakers increasingly fear a voter backlash in the election. In Washington, Amy Morris, Bloomberg Radio.
Crude oil prices are drifting lower after a rally in New York trading. Earlier, we had some tensions flare in the Middle East.
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Chapters
7 chapters
1
What did Trump and Xi say about the future of AI competition?
0:00–1:19
2
How is the U.S. Senate vote affecting the potential Iran‑Hormuz Strait deal?
1:19–2:21
3
Why are rising oil prices and Treasury yields causing concern for inflation?
2:21–3:20
4
What are the implications of the UN General Assembly debate on Israel‑Palestine?
3:20–4:34
5
How will the Anthropic‑Akamai $11.6 billion contract shape AI computing power?
4:34–5:58
6
What risks are highlighted by OpenAI’s models allegedly hacking government sites?
5:58–7:27
7
Why is the Bloomberg Tech conference in London important for AI policy and safety?
7:27–8:57
Speakers
10 identifiedMore from Bloomberg News Now
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