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October 26
- China's Ominous Leap in Semiconductor Production
➀ Jonathan Goldberg warns of a classic bubble forming in the semiconductor sector due to the AI boom.
➁ He discusses the rise of Neo-Cloud companies and the financial implications of partnerships like OpenAI and AMD.
➂ Goldberg expresses concerns about China's rapid advancements in semiconductor technology, particularly Huawei's development of EUV lithography and the potential impact on global markets.
- Robert Friedland Urges European Manhattan Project for Rare Earths
➀ Robert Friedland, a renowned resource investor, warns at the GSIS security conference in Hamburg about China's strategic use of rare earth metals as a tool of power.
➁ China's export controls on seven rare earths and certain magnets have affected industries in the US and Europe, with potential shortages of samarium and terbium, crucial for aerospace and ship navigation systems.
➂ Japan demonstrates the efficiency of recycling to secure rare earth supplies, with 60% of the annual demand for gallium met through recycling.
➃ Europe's reliance on China for rare earth supply is over 90%, and the need for a European strategic reserve is emphasized.
➄ The European Union is urged to invest in rare earth mining and processing to match China and the US, with a potential for significant investment opportunities.
➅ Only 2.5% of the annual US consumption of rare earths is used in the defense industry, the limited impact of potential shortages on military applications.