The Rundown: Nvidia Sees Huge Demand in China, Warren Buffett Calls It a Career

Podcast: The Rundown – Public.com
Host: Zaid Admani
Date: December 31, 2025
Episode Summary:
This final episode of 2025 focuses on a surging demand for Nvidia’s AI chips in China, dramatic developments in the ongoing Warner Brothers Discovery–Paramount–Netflix buyout drama, notable insider moves in Nike and Rivian, and the retirement of the legendary Warren Buffett as Berkshire Hathaway’s CEO. Host Zaid Admani delivers key market updates, closes out the year with gratitude, and highlights stories investors should watch in 2026.

Main Theme / Purpose

Zaid Admani wraps up 2025 with a concise and insightful recap of the year's biggest financial headlines and market trends, then dives into hot topics including Nvidia’s anticipated blockbuster chip sales in China and the succession of Warren Buffett. The episode targets investors seeking to stay informed about major company moves and market movers as 2026 dawns.

Key Discussion Points & Insights

1. Year-End Market Recap & Sentiment

• Market Snapshot:
  • S&P 500 down 0.1%, Nasdaq down 0.2% on Tuesday.
  • End-of-year trading is notably low-volume (“most traders have mentally checked out”).
• Silver Volatility:
  • Silver prices spiked from $71 to $77 and back to $71 in 24 hours.
  • “We’re still seeing some unusual in silver. We’re going to be talking more about this shiny rock on this weekend’s deep dive episode.” [01:09]
• 2025 Reflection:
  • Wild year: market crash due to tariffs, comeback fueled by AI trade, three Fed cuts, double-digit stock gains for the third straight year.
  • The podcast itself has seen major growth in content and audience.
  • “For the good of the bull market, we just gotta keep this thing going.” [02:23]

2. Nvidia’s Huge Demand in China

Segment Start: [03:01]

• Volume of Orders:
  • Chinese companies have ordered more than 2 million H200 AI chips for 2026—three times Nvidia’s current supply.
• Regulatory Uncertainty:
  • Orders are placed even before official Chinese government approval for chip imports.
• Strategic Moves:
  • Nvidia is asking TSMC to ramp up production starting Q2 2026.
• Technology Advantage:
  • H200 chips are six times more powerful than the previously allowed H20, and notably superior to Chinese domestic chips (e.g., Huawei).
  • Priced at $27,000 per chip, about 15% lower than gray market alternatives.
• Key Buyer:
  • ByteDance (TikTok’s parent) is planning to spend >$14 billion, up from $12B the prior year.
• US Cut:
  • US government claims a 25% share of revenue from Nvidia’s chip sales to China.
• Policy Risks:
  • Ongoing US–China contention over national security and domestic chip industry development.
• Investment Implication:
  • “If Nvidia does get the green light to sell their chips in China again, I mean, we could be in for another big year for their stock.” [04:55]

3. The WBD–Paramount–Netflix Buyout Saga

Segment Start: [05:14]

• Deal Overview:
  • Netflix agreed to pay $72B for Warner’s studio & streaming assets.
  • Paramount, led by David Ellison (son of Larry Ellison), made a hostile $30/share cash bid for Warner Brothers Discovery (WBD).
• Negotiation Twist:
  • Original Paramount bid was rejected; Ellison sweetened the offer with >$40B in equity financing (guaranteed personally by Larry Ellison), but price was not raised.
  • WBD board still not satisfied—wants a higher price.
• Host’s Take:
  • “The future of Hollywood and streaming and entertainment could heavily be impacted depending on who ends up taking over Warner Brothers.”
    “Right now, I’m leaning towards Netflix ultimately buying Warner Brothers, but it’s still up in the air.” [06:23]
• Looking Ahead:
  • Expect this saga to continue dominating media headlines in 2026.

4. Insider Moves: Nike and Rivian

Segment Start: [07:03]

Nike:

• CEO and Board Buy:
  • CEO Elliot Hill bought $1M of Nike shares on December 29th.
  • Tim Cook (Apple CEO, Nike board member) bought $3M of shares last week.
• Market Impact:
  • Nike up 2% in pre-market trading.
• 2025 Performance:
  • Stock down 15% for the year, but insider buying signals potential turnaround.
  • “Insider buying like this sends a pretty clear message that management thinks the worst might be behind them. And maybe 2026 is the comeback year for Nike.” [07:53]

Rivian:

• CEO’s Stock Sales:
  • RJ Scaringe sold 17,000+ shares this week—his 15th sale in 2025, totaling around $11M in proceeds.
• Perception:
  • “I don’t really freak out too much about insider selling … [but] repeated insider selling, especially by the founder and CEO, as a red flag.” [08:14]
• Market Impact:
  • Rivian down 5% in Tuesday trading; continuing to fall in pre-market.

5. Warren Buffett Calls It a Career

Segment Start: [08:41]

• Milestone:
  • Warren Buffett retires as CEO of Berkshire Hathaway at age 95, succeeded by Greg Abel. Buffett will remain Chairman.
• Legendary Returns:
  • Berkshire’s stock grew from $19/sh in 1965 to $750,000/sh in 2025—approx. 4 million percent return.
  • Annualized at nearly 20%—double the S&P 500’s 10% rate over the period.
  • “Warren Buffett has essentially doubled the S&P 500’s performance, which is absolutely insane.” [09:34]
• Historical Context:
  • “Most of Berkshire’s outperformance came before the 21st century, when it was easier to beat the S&P.”
• Looking Ahead:
  • Greg Abel now leads a $1.1T conglomerate—big shoes to fill.
  • Speculation about Buffett’s post-retirement plans: “Maybe he should launch a podcast or maybe he should start writing a substack.” [10:08]

Notable Quotes & Memorable Moments

• “For the good of the bull market, we just got to keep this thing going.” (Zaid, [02:23])
• “Chinese tech giants really want to get their hands on these H200 chips because these chips are roughly six times more powerful than the older H20 chips that were previously allowed into China.” (Zaid, [03:44])
• “Warner’s believes that the Paramount offer is still not as good as the Netflix offer, especially when you factor in the risk.” (Zaid, [06:03])
• “Insider buying like this sends a pretty clear message that management thinks the worst might be behind them.” (Zaid, [07:53])
• “Warren Buffett has essentially doubled the S&P 500’s performance, which is absolutely insane.” (Zaid, [09:34])

Timestamps for Important Segments

• Market & Silver Recap: [00:00] – [02:45]
• Nvidia in China: [03:01] – [05:13]
• WBD–Paramount–Netflix Drama: [05:14] – [07:03]
• Nike & Rivian Insider Moves: [07:03] – [08:41]
• Warren Buffett’s Retirement: [08:41] – [10:22]

Tone & Final Words

• Warm, energized, and personal—Zaid expresses gratitude for listener support and excitement for the podcast’s future.
  • “Whether you’re a new listener or you’ve been listening for the last two years, your support means the world to us.” [10:41]
• Anticipates more deep-dives in 2026, especially on Nvidia and media industry shifts.

Summary Takeaways

• Nvidia faces massive Chinese demand for its AI chips; policy decisions in 2026 could drive even larger growth.
• The WBD buyout war is upending Hollywood and streaming; outcome still undecided as new year begins.
• Nike insiders show faith via major stock buys, contrasting with Rivian CEO’s persistent sales.
• Warren Buffett’s legendary run as CEO of Berkshire ends, capping one of history’s greatest investing careers.

Ready for 2026? Listen in to keep your investing edge.