China’s AI Breakthroughs Shake Global Tech Assumptions | Insight with Haslinda Amin 7/20/2026
Спикеры
Viktor Shvets
— Head of Global Desk Strategy, Macquarie Capital
Kai-Fu Lee
— CEO, 01.AI
China's new AI models from Moonshot and Alibaba challenge US tech leadership, pressuring Korean chip stocks. Viktor Shvets of Macquarie sees near-term strength in AI infrastructure, favoring Korea, Taiwan, Nvidia, SK Hynix and Samsung, while flagging India and Europe as AI bubble hedges. Kai-Fu Lee of 01.AI highlights enterprise AI demand and Tencent's lead in applications. US-Iran escalation pushes Brent crude above $90, and Skyroot Aerospace achieves India's first private orbital launch.
- Moonshot's Kimi 3 and Alibaba's Qwen models close the AI gap with the US despite chip export controls.
- Korean semiconductor shares drop as investors reassess capex needs given Chinese cost-efficient AI leaps.
- Viktor Shvets remains bullish on Korea and Taiwan as the main AI picks-and-shovels beneficiaries.
- He likes Nvidia, SK Hynix, and Samsung due to a $2 trillion+ AI infrastructure backlog through 2027.
- He identifies India and European Monetary Union as the best anti-AI bubble trades.
- Kai-Fu Lee says Chinese consumer tech firms like Tencent will beat US rivals in AI applications.
- US-Iran tit-for-tat strikes push Brent above $90, raising oil supply and inflation concerns.
- Skyroot becomes India’s first private company to successfully launch an orbital rocket.
Идеи
Nvidia, SK Hynix, Samsung on AI backlog.
AI infrastructure demand remains extremely strong with over $2 trillion in backlog. This supports Nvidia, SK Hynix and Samsung at least through 2026-2027, keeping the story rolling in the near term.
Korea and Taiwan lead AI infrastructure returns.
Korea and Taiwan are the strongest plays on the AI infrastructure buildout in Asia-Pacific. Unlike China, these markets can deliver profits and returns from the AI capex cycle, making them attractive equity markets.
Technology dampens copper and nickel demand.
Technology improvements are boosting energy and material efficiency, reducing the commodity intensity per unit of output. Despite demand, copper and nickel face headwinds as efficiency gains wear down incremental needs, warranting caution.
India and Eurozone hedge AI bubble.
The European Monetary Union and India are the biggest anti-AI trades. They offer volume and size to accommodate a sizable hedge if the AI bubble deflates. He is still positioned in India for this reason.
Tencent leads AI applications over US rivals.
Chinese large consumer internet companies like Tencent will clearly beat American companies in creating clever AI applications, leveraging Chinese flexibility, hard work, and strong consumer AI optimism.
Далее
This Bloomberg Markets video, published July 20, 2026, features Viktor Shvets, Kai-Fu Lee discussing 000660.KS, NVDA, 005930.KS, EWT, EWY, COPPER, NICKEL, INDA, EZU, TCEHY. 5 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Viktor Shvets, Kai-Fu Lee · Tickers: 000660.KS, NVDA, 005930.KS, EWT, EWY, COPPER, NICKEL, INDA, EZU, TCEHY