Buzzberg Cup Live

South Korea Bets $880B on AI Chips & Data Centers | The Pulse 6/29/2026

Watch on YouTube ↗  |  June 29, 2026 at 10:05  |  48:36  |  Bloomberg Markets
Speakers
Marieke Blom — ING Chief Economist and Global Head of Research
Eirik Lie — CEO of Kongsberg Defense (Incoming CEO of Kongsberg Group)
Jeremy Allaire — CEO, Circle
Shona Gosh — Reporter, Bloomberg
Frank Smets — BIS Acting Head of the Monetary & Economic Department

Summary

The episode covers South Korea's $880B AI investment plan led by Samsung and SK Hynix, geopolitical developments including US-Iran peace talks, and UK politics. Investment insights include ING's bullish view on European equities as AI users, an oil rebound call due to oversold positioning, and expectations that the BOE will hold rates. Kongsberg's CEO highlighted robust missile demand, while Circle's CEO touted the opportunity from its new ARC blockchain platform. BIS warned of AI overinvestment risks and fragile government bond markets.

  • South Korea unveils $880B AI chip and data center plan with Samsung and SK Hynix leading
  • US and Iran halt attacks ahead of peace talks in Qatar
  • Andy Burnham pledges biggest devolution of power in modern English history
  • ING expects Europe to benefit as an AI user and sees oil prices rebounding from oversold levels
  • ING does not expect a Bank of England rate hike, bullish on UK gilts
  • Kongsberg sees steep demand for missiles and expanding capacity in Europe, US, Australia
  • Circle's ARC blockchain platform to launch soon, targeting banks and AI agents
  • BIS report warns of AI overinvestment risks and hedge fund leverage in government bonds
Ideas
Marieke Blom ING Chief Economist and Global Head of Research 2:38
Europe benefits as AI user
Europe's main upside from AI is as a user, not a builder. Low barriers to AI adoption, tight labor markets, and strong research capabilities mean Europe will benefit from using AI to boost productivity. Open source models and lower AI model prices will further benefit European customers. This is a long-term opportunity for European equities.
VGK MED
Marieke Blom ING Chief Economist and Global Head of Research 10:24
BOE won't hike, gilts bullish
With oil prices coming down and a weak economic background, there is no reason for the Bank of England to hike rates, contrary to market pricing. ING does not expect a hike; the UK political situation is being ignored by markets, which is different from Europe.
UKGILT MED
Marieke Blom ING Chief Economist and Global Head of Research 11:52
Oil oversold, prices to rebound
Oil market speculators have repositioned so aggressively that the market is now oversold. ING expects oil prices to rise again, which would also give the ECB reason to hike once more.
BNO MED
Eirik Lie CEO of Kongsberg Defense (Incoming CEO of Kongsberg Group) 17:20
Steep missile demand drives Kongsberg growth
Kongsberg is experiencing steep demand for missiles. The company has scaled up strike missile capacity, built factories in Europe, the U.S. and Australia, and sees the most growth in Europe and the U.S. Strong order backlog and ability to deliver support a positive outlook.
KONGSBERG MED
Jeremy Allaire CEO, Circle 31:21
Circle's ARC platform unlocks huge opportunity
Circle is launching ARC, a fourth-generation blockchain platform designed for mainstream financial institutions. It is purpose-built for the agentic economy, where AI agents need a transaction substrate. This is a major infrastructure opportunity that Circle views as one of its largest, alongside its stablecoin and payments networks.
USDC MED
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This Bloomberg Markets video, published June 29, 2026, features Marieke Blom, Eirik Lie, Jeremy Allaire discussing VGK, UKGILT, BNO, KONGSBERG, USDC. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Marieke Blom, Eirik Lie, Jeremy Allaire  · Tickers: VGK, UKGILT, BNO, KONGSBERG, USDC