What I Read This Week…

Magnificent 7 stocks have lost over $1.7T in market capitalization, the U.S. is failing to limit the export of chips to China, and scientists have developed a new class of antibiotics

Watch All-In E190 Read our Deep Dive on U.S. Defense Caught My Eye… The “Magnificent 7” stocks have lost over $1.7 trillion in market capitalization in just two weeks, with Nvidia's stock price decreasing 7% in a single day. What's going on? Investors are reassessing the lofty valuations of the largest technology companies, driven by concerns over their large investments in AI and mixed Q2 earnings. Macroeconomic indicators are pointing to a weakening economy. The latest jobs report revealed new unemployment claims at their highest level since last August, while manufacturing has…

related reading

• Dario Amodei — On DeepSeek and Export Controlsdarioamodei.com
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• On Dwarkesh Patel’s Podcast With Nvidia CEO Jensen Huang | Don't Worry About the Vasethezvi.wordpress.com
• Should the US Sell Blackwell Chips to China? | IFPifp.org
• Running on Ice: China’s Chipmakers in a Post-October 7 World – Rhodium Grouprhg.com
• Fab Whack-A-Mole: Chinese Companies are Evading U.S. Sanctionssemianalysis.com
• China's AI Models Are Closing the Gap—but America's Real Advantage Lies Elsewhere | RANDrand.org
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• Techmemetechmeme.com