China is winning AI race, Nvidia says, as OpenAI begs US gov't for bailout

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