China Expands Travel Curbs to Top AI Talent
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What is the main topic discussed in this episode?
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Bloomberg Tech is alive from coast to coast. With Caroline Hyde in New York and Ed Lovelo in San Francisco.
This is Bloomberg Tech coming up. China tightens its grip on AI, this time targeting overseas travel by top AI professionals.
Plus, how big banks are looking to hire more AI specialists and shrink traditional banking roles.
And we'll look at the tech IPO landscape as SpaceX kicks off an IPO bonanza.
And quite the timing for any sort of IPO right now because at a new record high, once again, Ed, it's risk on. And that means we're buying semiconductors, we're buying hardware, the NASDAQ 100 at a new record high. We're at 1.7% on an intraday basis, that is. We're looking at the semiconductor index on fire. We're up 5% for the socks. Why dig into some of the individual movers? We're seeing Micron at a new record high as we see analysts all pile in An extraordinary uplift from UBS in terms of a price target that more than doubles from where it's currently trading. We're up 17% for Micron. But also you're shining a light, what's happening with Qualcomm, getting a real boost as well. As we start to see new buyers of its ASICs, it's all about the hardware ed.
From Asia to the US session, there's a massive rally in chip stocks also because of a breakthrough in technology. China's Huawei says it has a new technique, logic folding, that changes how a signal passes through a transistor. So you can do away with extreme miniaturization. You don't have to worry about the limits of extreme ultraviolet lithography. It's a new design, but also method of chimp manufacturing, and that is really Really sent all kinds of chip stocks or supply chain exposure stocks, uh, sending much higher. Here's the catch: uh, this is a technology that's many years away. Let's get more with Bloomberg senior tech editor Mike Shepherd. You know, so interesting because Huawei is coming out saying, Well, we've got something here tech technology-wise, but you're gonna have to wait until the next decade to see it in a race with TSMC.
Give us more detail.
Well, Ed, they are promising something that people have been wondering about. What would be the next version of Moore's Law? And that is the idea that every two years you would see a doubling of the number of transistors that you could fit on a tiny chip. And in recent years, that has started to slow because the chips have just gotten so small and so much harder to produce, and really requiring such sophisticated machinery like the kind of Of EUV machines produced by uh ASML, the Dutch company that really has a strangle hold on that. And that has really been a bottleneck, especially for China, which faces export controls on being able to acquire that technology. So their solution? Innovate around the problem, at least in the view of Huawei.
They are promising this new method and even a new law to define how to pack all those transistors onto a chip. They are calling it Tao's Law and really trying to forge their own path. Now, the cautionary note, of course, Ed, is that this is all theoretical right now. They say that in the Kieran chip, the new line coming up soon, we may see signs of it, but it may take years. And Ed, can they produce it at a yield that produces a profit for them?
Why is China tightening overseas travel for its top AI talent?
But the focus clearly is on owning their own supply chain, controlling it. And they're also looking to control their own talent chain, it feels as though as well, Mike. More limitations on those building AI startups in the country.
Carol, we are seeing this competition between the US and China for leadership in artificial intelligence and advanced technology, not only in the chip and software arena, but in the people uh arena and sphere as well.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–3:54
2
Why is China tightening overseas travel for its top AI talent?
3:54–5:08
3
How are big banks reshaping their workforce to hire more AI specialists?
5:08–5:29
4
What does the recent surge in semiconductor stocks mean for investors?
5:29–10:21
5
What is Huawei’s new “logic‑folding” technology and how could it disrupt Moore’s Law?
10:21–12:38
6
How realistic is Huawei’s claim of a decade‑away breakthrough in chip manufacturing?
12:38–18:42
7
Why is Qualcomm partnering with ByteDance for AI data‑center chips?
18:42–24:23
8
What’s driving Micron’s stock rally and its massive U.S. fab investments?
24:23–46:05
Speakers
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