Bloomberg Tech Podcast Summary

Episode: China Tells Companies to Stop Buying Nvidia Chips
Date: September 17, 2025
Hosts: Caroline Hyde (New York), Ed Ludlow (San Francisco), Jensen Wong

Overview

This episode tackles the growing tech and geopolitical tensions between China and the US, focusing on China’s fresh directive for domestic tech giants to halt purchases of Nvidia AI chips—a move that stirs global chip market volatility and highlights the fractured state of global tech supply chains. The episode also covers major investments in UK tech infrastructure by US companies, proposed changes to TikTok ownership, the StubHub IPO, innovations in AI hardware, and the latest developments in robotaxi partnerships. The conversations stress how technology is increasingly inseparable from global politics and business strategy.

Key Discussion Points and Insights

1. China Orders Tech Giants to Cancel Nvidia Chip Orders

[02:29–04:42]

• China’s Internet regulator told leading firms (Alibaba, ByteDance, more) to halt orders for Nvidia’s advanced AI chips, specifically the RTX Pro 6000D (not H20).
• This is seen as a response to ongoing US export bans and pressure on US chipmakers.
• Impact: Nvidia’s market cap drops by $200B over three sessions.
• Rising confidence in local Chinese chipmakers is shifting dynamics.
• Key diplomatic meetings: Nvidia CEO Jensen Huang in the UK with President Trump, where export controls and Nvidia’s China business expected to be a major topic during a summit with President Xi Jinping.

Notable Quote:

"This latest turn of events… signals an escalating pressure campaign by China and they feel like they have some leverage there because the local companies in China making semiconductors… can now compete."
— Mike Shepherd, Bloomberg Tech Editor ([03:17])

2. Major US Tech Investments in the UK

[04:42–06:42; 40:44–45:00]

• Microsoft, OpenAI, Nvidia, and others pledge tens of billions in UK tech infrastructure—spanning AI, quantum computing, and cloud.
• The UK Prime Minister Keir Starmer sees these as critical wins amid domestic political turmoil.
• Investments may empower US negotiators regarding UK digital services taxes.

Notable Quote:

"Microsoft will invest $30 billion in the UK as part of a push to expand AI infrastructure."
— Jensen Wong ([40:44])

• Data Center Construction Bottlenecks:
  Maria Davidson, CEO of Kojo, outlined labor shortages and the high cost of construction materials as key hurdles.

3. Global Tech Geopolitics: TikTok’s Future

[07:08–09:45; 30:57–31:43]

• US buyers, including Oracle, Andreessen Horowitz, and Silver Lake, proposed to acquire TikTok’s US operations. ByteDance’s willingness to transfer the core recommendation algorithm remains uncertain.
• The outcome will impact both users and staff, keeping TikTok in limbo until at least December.

Notable Quote:

"The issue has never been can the US come up with buyers that China likes. The issue has really been can China part with the algorithm, which is the secret sauce of TikTok… "
— Alexandra Levine, Bloomberg Social Media Reporter ([07:53])

• Advertiser uncertainty about TikTok’s future benefits competitors like Meta.

4. StubHub Goes Public: Insights from CEO Eric Baker

[12:07–16:49]

• StubHub IPO priced at $23.5/share, $8.6B valuation.
• CEO Eric Baker recounts the company’s long journey, citing resilience and focus on future innovation: more transparent ticketing, direct sales from teams like the Yankees, and broadening into primary ticketing.
• Regulatory focus: applauds ‘all-in’ pricing for ticket clarity, supports DOJ scrutiny of primary issuance (Ticketmaster).
• AI seen as a “tremendous tailwind” for business.
• Despite slowing H1 revenue due to Taylor Swift’s tour hiatus and pricing policy, long-term growth is strong (>20%).

Notable Quotes:

"We’re always excited to be at the intersection of technology and live events… To your question about regulatory focus… all in pricing that we lobbied for passed at the federal level in May. And that’s just a better experience for consumers."
— Eric Baker ([14:04])

"We see [AI] as a tremendous opportunity and… tailwind… everyone wins.”
— Eric Baker ([14:55])

5. AI Hardware: Groq Challenges the Giants

[19:02–25:11]

• Groq raises $750M (valuation: $6.9B) to accelerate AI inference hardware, positioning its LPU (Language Processing Unit) as a differentiated alternative to Nvidia's GPUs and Google TPUs.
• LPUs emphasized for their ability to do both parallel and sequential operations, offering “broadband over dial-up” speed for AI tasks at less energy and cost.
• Groq expanding rapidly into US, Europe, Middle East.

Notable Quotes:

"The demand for inference is insatiable… we provide both speed and throughput, lowering cost. The difference in that cost could be the difference between profitability and losing money."
— Jonathan Ross, Groq CEO ([19:48]; [20:28])

"The architectures are quite different and they have different bottlenecks. No architecture is perfect. That’s why we don’t use CPUs anymore for AI…”
— Jonathan Ross ([24:09])

6. Meta, Apple & the Future of Smart Glasses and Consumer AI

[26:10–30:37]

• Meta Connect event is anticipated, with new hardware (Ray-Ban smart glasses), integration of Meta AI, and simultaneous translation as standout features.
• Real differentiation depends on seamless hardware/software integration—a playbook reminiscent of Apple’s.
• Apple drew more acclaim than Meta for onsite translation features, likely due to platform strength and focus on hardware/software synergy.
• The full utility of Meta’s AI ("what is the end thing consumers will do with it?") remains uncertain.

Notable Quote:

"It’s always going to come down to the same things that arguably made Apple so successful… tight integration of hardware and software."
— Brad Erickson, RBC Capital ([27:17])

7. Ride-Hailing’s Next Act: Lyft, Waymo, and Global Robotaxis

[31:43–39:06]

• Lyft and Waymo team up to launch autonomous taxi services in Nashville; Lyft to handle fleet management, ensuring readiness, cleaning, and charging.
• Collaboration with Baidu means planned robotaxi rollouts in Europe—praised for the speed and standards of Chinese tech companies.
• The partnership model (as opposed to Tesla/Zoox’s vertical integration) is seen as the quickest way to scale city-by-city.
• Regulatory, logistical, and competitive hurdles (Uber, city-specific issues) remain significant, especially for complex markets like New York.

Notable Quotes:

"This allows every company to specialize... [Waymo] focus on self driving tech, OEMs build the best cars, we provide fleet management and demand."
— David Richard, Lyft CEO ([33:20])

"Baidu… Chinese companies are kind of built for speed. ...They've got really high standards for their technology."
— David Richard ([38:01])

8. Data Center Construction and the AI Boom

[41:23–45:00]

• Maria Davidson, Kojo CEO, highlights surging investment in data center construction ($40B in 2025, expected to rise >10% annually by 2030).
• Main hurdles are labor shortages—500,000 construction workers missing—and supply chain delays.
• Modular (“prefab”) approaches and AI-powered planning are helping to accelerate builds, particularly in the US and UK.
• Kojo is building digital infrastructure to modernize and streamline construction logistics for massive projects driven by tech’s infrastructural demand.

Notable Quotes & Timestamps

• Mike Shepherd (China/Nvidia):

  “…an escalating pressure campaign by China… local [semiconductor] companies… can now compete…” ([03:17])

• Jensen Wong (UK Trade):

  “Microsoft will invest $30 billion in the UK…” ([40:44])

• Alexandra Levine (TikTok):

  “The issue has never been can the US come up with buyers that China likes. The issue has really been can China part with the algorithm…” ([07:53])

• Eric Baker (AI & StubHub):

  “AI is a tremendous opportunity… for companies that have tremendous data… you can provide a better product…” ([14:55])

• Jonathan Ross, Groq:

  “The demand for inference is insatiable… we provide both speed and throughput, lowering cost…” ([19:48])

• Brad Erickson, RBC (Meta):

  “It’s always going to come down to…the tight integration of hardware and software.” ([27:17])

• David Richard, Lyft (Robotaxis):

  “This allows every company to specialize…[and] provides a great division of labor.” ([33:20])
  “Chinese companies are kind of built for speed…” ([38:01])

• Maria Davidson, Kojo (Data Centers):

  “The scale is enormous. $40 billion going into the construction of data centers in the US this year…” ([41:41])

Additional Highlights & Memorable Moments

• Nvidia’s market volatility: $200B wiped off in response to Chinese chip order cancellations.
• Meta’s Smart Glasses translation feature—despite technical parity, Apple’s rollout garnered more hype than Meta’s earlier demo.
• StubHub’s AI strategy: Clear, practical use in customer service and product recommendations, not just industry buzz.
• Lyft/Baidu partnership: Described as “built for speed,” with ambitious rollout plans in Europe.
• US-UK tech ties: New era of digital and infrastructure collaboration, with direct political implications.

Key Timestamps

| Segment | Start | End | |-----------------------------------|------------|------------| | Nvidia/China Chip Orders | 02:29 | 04:42 | | US Tech Investments in UK | 04:42 | 06:42; 40:44| 45:00 | | TikTok Sale & Geopolitics | 07:08 | 09:45 | | StubHub IPO & AI | 12:07 | 16:49 | | AI Hardware (Groq) | 19:02 | 25:11 | | Meta Connect & Smart Glasses | 26:10 | 30:37 | | Lyft/Waymo Robotaxi Partnerships | 31:43 | 39:06 | | Data Center Buildout (Kojo) | 41:23 | 45:00 |

Overall Tone

• The conversation is fast-paced, informed, and pragmatic, blending technical insights and business commentary. Speakers consistently emphasize the interconnectedness of technology, regulation, and geopolitics. The tone remains balanced—a mix of cautious optimism (AI, infrastructure) and recognizing the uncertainty caused by ongoing US-China friction.

Summary Takeaway

This episode encapsulates how tech, politics, and global commerce are tightly interwoven in 2025. US-China tech decoupling, AI advancement, infrastructure investment, and regulatory scrutiny serve as both risks and opportunities for the global industry. The discussion points to a future where agility, partnership, and innovation—both technological and diplomatic—will determine who thrives in an ever-shifting landscape.