(Bloomberg) -- The windfall earned by Asian chip makers is coursing through the world economy, mirroring on a global scale the circular flow of money within the AI ecosystem. Most Read from Bloomberg The artificial intelligence boom is generating unprecedented amounts of cash for the likes of South Korea and Taiwan, which in turn is creating a narrower version of the Asian savings glut that kept U...
(Bloomberg) -- The windfall earned by Asian chip makers is coursing through the world economy, mirroring on a global scale the circular flow of money within the AI ecosystem. Most Read from Bloomberg The artificial intelligence boom is generating unprecedented amounts of cash for the likes of South Korea and Taiwan, which in turn is creating a narrower version of the Asian savings glut that kept US borrowing costs low through the late 1990s and early 2000s. That’s according to a new note from Oxford Economics examining how technology-producing economies are converting export earnings into external surpluses faster than domestic investment can absorb them. Some of that capital is finding its way back into dollar assets, Head of Asia Economics Louise Loo wrote in the note. Such investments indirectly support the financial conditions that help fund capital spending by big tech companies known as hyperscalers, a group that includes Alphabet Inc., Meta Platforms Inc., Microsoft Corp. and Amazon.com. “This framework of Asian savings recycled into US assets echoes Bernanke’s savings-glut framework two decades ago,” Loo wrote in the note, referencing a theory popularized by former US Federal Reserve Chair Ben Bernanke. But “today’s AI-linked version of Asian surplus recycling is narrower and more concentrated.” For much of North Asia, surging chip exports have overwhelmed the drag from higher energy prices stemming from the Iran war. That’s fueling the fastest economic growth in decades in Taiwan and boosting Japan’s and South Korea’s tech-heavy economies, too. It’s also creating a windfall for companies including Taiwan Semiconductor Manufacturing Co. — the main chipmaker to Nvidia Corp. and Apple Inc. — and Samsung Electronics Co., which saw a 48-fold jump in profits for its semiconductor arm in the first quarter. At the macro level, the boom is generating massive imbalances. Data Wednesday showed Taiwan’s current account surplus jumped 111% from a year earlier to $62.5 b...
The Elon Musk Show: The Next Chapter 9pm, BBC Two Only two-and-a-half years have passed since the BBC’s documentary series examined the world’s most famous billionaire – but there’s a hell of a lot to catch up with in this sequel, most notably the Twitter/X takeover and endorsing Trump before publicly falling out with him. Former school friends, colleagues, associates and insiders give more insigh...
The Elon Musk Show: The Next Chapter 9pm, BBC Two Only two-and-a-half years have passed since the BBC’s documentary series examined the world’s most famous billionaire – but there’s a hell of a lot to catch up with in this sequel, most notably the Twitter/X takeover and endorsing Trump before publicly falling out with him. Former school friends, colleagues, associates and insiders give more insight into a man at the forefront of the culture wars. Hollie Richardson Race Across the World: The Final 8pm, BBC One They’ve travelled 11,000km across Europe and Asia – and now it’s time for the final hurdle. To get to the Hatgal finish line, the teams can either go off-road on a shorter route or use public transport on a slightly longer one. Who will make the right call and bag £20k? HR Classic Movies: The Story of Three Days of the Condor 8pm, Sky Arts In another edition of the documentary series where earnest analysis compensates for a minuscule budget, Ian Nathan leads a dissection of Sydney Pollack’s 1975 spy thriller, starting with the memorable early sequence where Robert Redford gets back from lunch to find all his co-workers have been shot. Vietnam, Watergate and the 1970s oil crisis all, we are told, fed into the movie’s paranoid tone. Jack Seale Taskmaster 9pm, Channel 4 After 21 series, Taskmaster often feels more like a comfortingly familiar gameshow than the sadistic celebrity circus it’s billed as. Even so, it still has the potential to get weird, and quickly: this week Kumail Nanjiani spins a yarn about herpes, before Joel Dommett has far too much fun with socks. Hannah J Davies The Hardacres 9pm, Channel 5 View image in fullscreen Rags to riches … Liza Hardacre (Shannon Lavelle) and Captain Blackwood (Niall McNamee) in The Hardacres. Photograph: Playground Television UK “I do hope they haven’t forgotten how to cut fish …” As Mary goes full steam ahead with her new adult education classes, Lady Imelda quietly threatens the rags-to-riches success of the Hardacr...
new look casting/iStock via Getty Images I've continued to rate CCC Intelligent Solutions Holdings Inc. ( CCC ) as a "Buy." The company has a long runway considering the substantial whitespace beyond its core business. The stock's valuations are appealing, as evidenced by the fast pace of buybacks. CCC's better-than-anticipated 4Q25 EBITDA and favorable FY26 prospects were outlined in my previous ...
new look casting/iStock via Getty Images I've continued to rate CCC Intelligent Solutions Holdings Inc. ( CCC ) as a "Buy." The company has a long runway considering the substantial whitespace beyond its core business. The stock's valuations are appealing, as evidenced by the fast pace of buybacks. CCC's better-than-anticipated 4Q25 EBITDA and favorable FY26 prospects were outlined in my previous February 26, 2026, article . Casualty Division is Ready for Take-Off As per the chart presented below, the firm is already a major player in "Automotive Physical Damage" or "APD" with a few hundred key accounts. According to fund manager Touchstone , it boasts a market share of "over 80%" in this area. How CCC Fits Into the Insurance Claims Process Corporate Slides I'm encouraged by recent management disclosures showing that it is also gaining ground in other segments. At the JPMorgan ( JPM ) TMT Conference on May 19, CCC shared that "the spend in casualty" surpassed APD for the first time last year and is "inflating at a higher rate." It's reasonable to think that insurers will place an increasing emphasis on managing this category of claims. The group's YoY turnover expansion improved from 1Q25's +10.7% to 1Q26's +11.8%. Its latest three-month sales of $0.28 billion represented a 2.5% beat against consensus, as per S&P Capital IQ. The analyst briefing commentary credited this outperformance in part to "transactional strength in casualty." I also like how CCC has been racking up the wins. Its first-quarter press release highlighted a new multi‑year (Casualty) agreement with Allstate, which builds on a similar deal involving "a top‑six insurer" in 4Q2025. My late-Feb write-up touched on CCC's "M&A deal involving EvolutionIQ/EIQ, a pioneer in AI claims guidance." This has enhanced its value proposition. The CEO mentioned EIQ's "ability to synthesize medical documents" in less time than humans at the JPM event. The company derives roughly four-fifths and 10% of its revenues f...