Andrew, Ben, and Tom discuss China&#x27;s $295 billion AI infrastructure plan that hands 80% of the buildout to Huawei and squeezes out Nvidia and AMD, Taiwan&#x27;s tightening AI chip export controls, Korea&#x27;s 8% rebound after yesterday&#x27;s circuit breaker, OpenAI&#x27;s S-1 filing as it races Anthropic to be the first AI lab to go public, the finalized $36 billion Apollo-Blackstone-Google-Anthropic-Broadcom TPU financing deal, and Apple&#x27;s underwhelming WWDC keynote with a slow Siri AI rollout limited outside the US. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosure

China's $295B AI Buildout Squeezes Out Nvidia + OpenAI's IPO Race to Catch Anthropic | June 9, 2026 – Morning Market Briefing

The Morning Market Briefing

# Full Transcript

**Podcast:** The Morning Market Briefing

## Participants

- **Tom** (None)
- **Ben** (None)

## Transcript

Hey everybody, welcome to the Morning Market Briefing. Tuesday, 6-9-2026. Hope you're doing well out there. Hope you're having a nice day. Tom, Ben, how we doing? I'm feeling great. It's gonna be a big day. We got a lot to talk about.

Lots to talk about. I want to start off with the AI story. I think that remains top of mind. Specifically, Ben, there was a great tweet yesterday summarizing one of these specific AI deals that we'll get to maybe last in this segment. But just to continue to ramp up massive amounts of capital flowing.

Yeah, China is preparing a 300 billion almost 300 billion dollar fund to fund a nationwide AI build out is a massive deal. I mean, if you just think about what TARP was, and then what this China AI build out is going to be, that's massive 300 billion dollars. It's also about what the CapEx is going to be for Google next year, actually, probably a bit less. So and that doesn't mention all these other companies.

So what's interesting here is that Huawei is going to be providing at least 80% of the technology. So effectively squeezing out Nvidia and AMD. So it bears a couple questions. One is, is this is China reaching the limits on how much they can put into this? And then secondly, even if they do put all this money in, are they going to get the bang for the buck because they're not using the top chips? So that's a question there. The Korean stocks are coming back.

This is something I was thinking about just watching the Korean markets. You see so many of these economies, these are real countries with real people and real economies and real savings and real retirements. And they're either not diversified or they're diversified in bad companies like in Germany, for instance. Yeah. Yeah.

Or they're solely dependent on one sector, like in Korea. I mean, Korea has a lot of other companies. I mean, they have a lot of car manufacturing going on. But every day, it seems like the stock market is limit up or limit down. It hits circuit breakers every day, simply because of their memory chip companies. And I just imagine if in the US we were up to 8% or down 8% in your portfolio every single day because it was all Samsung and SK Hynex.

I mean, I'd like today. I'd like today. Yeah. I mean, it's an interesting thing because we've talked a lot about big breadth on this podcast and how much we like that. But really over the last month, we've seen that move away. We've kind of gotten into this cycle in a certain degree. I mean, we're boom or bust on performance the last week or so because it really is dependent on what is AMD and Intel doing, Micron, what are they doing versus what is the market at large doing?

And that's relative performance. So the market will swing one way or the other, and then we'll probably just be in the middle. Like we went down less on the down days and we went up less on a da...

China's $295B AI Buildout Squeezes Out Nvidia + OpenAI's IPO Race to Catch Anthropic | June 9, 2026 – Morning Market Briefing

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China's $295B AI Buildout Squeezes Out Nvidia + OpenAI's IPO Race to Catch Anthropic | June 9, 2026 – Morning Market Briefing

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.