Nvidia CEO Jensen Huang fears China will win the AI race, as OpenAI asks the US government for "federal guarantees" and a "backstop". The unsustainability of the enormous AI bubble is becoming clear to everyone, and Silicon Valley Big Tech executives want to be guaranteed a bailout. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=4odSW2lSUyI

Check out our related video on the AI bubble: https://www.youtube.com/watch?v=rXCVrLPTUHQ

Topics

0:00 (CLIPS) OpenAI wants US gov't "backstop"

0:31 US-China AI race

1:13 Nvidia sells shovels in AI gold rush

3:05 China restricts Nvidia chips

3:47 Nvidia CEO: China is winning AI race

5:50 AI bubble

7:21 OpenAI CFO asks for federal "backstop"

8:11 (CLIP) OpenAI CFO on US gov't support

8:51 OpenAI CEO Sam Altman

9:22 (CLIP) US gov't as "insurer of last resort"

9:49 Too Big to Fail 2.0

10:53 Sam Altman backtracks

11:58 OpenAI letter asks US gov't for support

14:32 Banning Chinese AI competitors

15:31 Trump supports OpenAI & Sam Altman

16:19 (CLIP) Sam Altman at White House

16:36 Sam Altman donates to Trump

17:03 Chinese open-source AI models

17:56 US corporations want monopolies

18:58 Peter Thiel & Sam Altman

19:34 (CLIP) "Competition is for losers"

20:10 OpenAI's circular financing scheme

22:32 OpenAI owes $1.4 trillion

23:24 OpenAI is losing money

24:42 Silicon Valley's business model: monopoly

26:15 China's AI advantage: electricity

27:08 The "electron gap"

28:24 Electricity generation: China vs USA

29:30 AI data centers drive up electricity bills

29:52 Electricity price in USA

30:36 Electricity prices: China vs USA

31:49 BlackRock buys up US power grid

33:02 Trump closes solar power projects

33:48 Trump cancels wind power projects

34:39 US fossil fuel corporations

35:12 Summary

36:34 Outro