China Tech Earnings Hit by AI Spending | The China Show 5/29/2026

Watch on YouTube ↗  |  May 29, 2026 at 06:27  |  1:35:01  |  Bloomberg Markets
Speakers
Ivy Ng — DWS
David Savage — Editor, The Block
Brendan Schulman — Vice President of Policy and Government Relations, Boston Dynamics
Cui Cui — Jefferies
Anthony (unconfirmed last name) — Bloomberg Markets Reporter

Summary

The episode covers tentative US-Iran ceasefire extending 60 days, boosting risk assets and lowering oil prices. The AI server rally continues with Dell and Lenovo surging, while Chinese tech earnings disappoint highlighting weak AI monetization. Other topics include robotics summit, SpaceX IPO valuation cut, China biotech licensing deals, and Hong Kong tourism recovery.

  • US and Iran agree to a 60-day ceasefire extension pending Trump's approval, lowering oil prices.
  • AI server demand drives a rally in names like Lenovo and Dell, with strong capex visibility.
  • Anthropic raises $65 billion at $965 billion valuation, surpassing OpenAI.
  • SpaceX reportedly lowers IPO valuation target to at least $1.8 trillion.
  • Chinese tech earnings expose weak AI profitability and struggling traditional businesses, pressuring Hang Seng Tech Index.
  • Boston Dynamics executive discusses robotics revolution and need for US national strategy.
  • Chinese biotech gains global recognition with major licensing deals and data presentations.
  • Hong Kong tourism secretary reports visitor numbers back to pre-COVID levels and on track to meet 2026 targets.
Trade Ideas
Ivy Ng DWS 33:08
Oil to fall to $80 in 12 months
Expects oil prices to decline to around $80 per barrel over the next 12 months as current elevated levels are driven by short-term inflation and geopolitical premiums that will fade. The futures curve indicates a temporary price spike, and fundamentals support a return to $80.
BNO MED
David Savage Editor, The Block 51:54
Avoid gold, weak fundamentals
Gold and precious metals are under pressure due to a strong dollar and cooling retail/ETF inflows. The price action has been poor and lacks fundamental support, making it unattractive to own.
GLD MED
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This Bloomberg Markets video, published May 29, 2026, features Ivy Ng, David Savage discussing BNO, GLD. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Ivy Ng, David Savage  · Tickers: BNO, GLD