White House AI Czar Sacks on Trump's AI Executive Order

Broadcom's shares have significantly declined following a disappointing sales outlook that failed to meet investor expectations, mirroring a similar trend seen with Oracle's recent struggles in the AI sector. This downturn comes despite Broadcom reporting record revenue growth, highlighting investor concerns about future profitability.

The UK economy faces potential contraction as growth declines ahead of Chancellor Rachel Reeves' tax-raising budget, prompting discussions on the role of the tech sector in economic recovery. British Business Bank CEO Louis Taylor emphasized the strength of fintech and AI in the UK during a conversation with Bloomberg's Ed Ludlow and Caroline Hyde.

Margie Patel, senior portfolio manager at Allspring Global Investments, expressed confidence regarding AI stocks despite recent concerns surrounding Oracle's delayed AI data center completions and Broadcom's earnings. She discussed these issues on Bloomberg Tech, emphasizing that the end-of-year jitters should not deter investment in AI technologies.

Broadcom's stock experienced its most significant decline in ten months after the company reported a sales outlook that fell short of investor expectations, raising concerns about its competitiveness in the AI chip market against rivals like Nvidia.

China has decided to reject the purchase of Nvidia's H200 AI chips, opting instead for domestically produced semiconductors. This decision comes as the U.S. has attempted to facilitate Nvidia's sales to China, which were previously restricted due to national security concerns, as noted by White House AI czar David Sacks.

The Trump administration is reportedly preparing to engage private firms to assist in conducting offensive cyberattacks against foreign adversaries, marking a potential shift in how electronic conflicts are managed, traditionally the domain of intelligence agencies.

The bidding process for Warner Bros. Discovery Inc. has faced significant challenges, with competing suitors struggling to make headway. This turmoil raises questions about the viability of an auction for the company, although it is too early to dismiss the possibility entirely.

Ireland has officially lifted its moratorium on new power connections for data centers around Dublin, providing much-needed clarity for the industry regarding the requirements for establishing new facilities. This decision marks a significant shift in the country's approach to managing its energy resources in relation to the growing demand from the tech sector.