As China wins AI race, OpenAI begs US gov't for bailout when bubble pops

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.

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

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