00:00 Speaker A if the US is going to permit H200 sales to China, what is the risk, Chris, that that decision helps in some way, um, China's military AI ambitions? 00:19 Chris What we know from the open source is that, uh, China's already uh, repeatedly used US origin AI chips for military purposes. There's been great research on this. We know that they're demanding larger volumes of AI chips. But...
00:00 Speaker A if the US is going to permit H200 sales to China, what is the risk, Chris, that that decision helps in some way, um, China's military AI ambitions? 00:19 Chris What we know from the open source is that, uh, China's already uh, repeatedly used US origin AI chips for military purposes. There's been great research on this. We know that they're demanding larger volumes of AI chips. But I think it's not just about what specific chip goes to the military, it's about the overall strength of the ecosystem. That's ultimately what drives long-run technological progress. And so by anything we do that helps build up Chinese AI firms, uh, helps build up Chinese AI infrastructure, uh, does give fuel to that ecosystem and makes it a stronger competitor in the long run. 01:03 Speaker A A big question, Chris, you know, it's always it's asked so regularly is, who's sort of leading in this AI race, uh, US or China? How do you answer that, Chris? And how has that evolved? You know, how is it different than if I asked you that, you know, I I don't know, six months ago or 12 months ago? 01:25 Chris I think when you look at the AI models themselves, what you find is that US firms might be in the lead to a small degree, but it's a small lead. China's right behind. If you measure, you know, deep seek versus open AI or Alibaba's Quinn versus Anthropic. There's not much of a margin there and the race the rate of progress is really extraordinary. So on the models themselves, I don't think the US has a very strong lead at all. It's it's really at the chip level, the ability to put uh, large volumes of chips into the most advanced data centers. That's where the US plus its friends of all Taiwan, I really do have this commanding lead. And that's why there's been so much focus in the US, uh, towards making sure that this lead isn't squandered and instead we use it to support the next generation of US talk firms. 02:22 Speaker A Finally, Chris, just to bring it back home to the US, ...