彭博直播称长鑫科技接近推出先进手机内存，但该LPDDR6进展已提前传播且缺乏可交易增量

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-08-05 09:30–10:00(Asia/Shanghai),共 134 段
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[09:30] 10 percent% open source. And what we're seeing is some of these commercial terms with commercial terms licenses are now growing for these AI open.
[09:30] So if you generate more than $20 million dollars a year using these models and you have to discuss a term on the monetization share.
[09:30] With the model owners. and we're seeing that. So we've lifted of and ARR numbers to a 13 billion dollars amongst AI models by year.
[09:30] And this year, previously 10 billion just to a month ago when we published the primer, and so that increases mainly on this very strong.
[09:30] op of token numbers. We've seen that from some third party platforms like Open routetor. The token numbers are growing. The API channels is where to your question.
[09:30] They're monetizing on on every token pricing, input, output and kind of Kb cash, all of that blends together. But that ArR is ramping up, but not all of them.
[09:30] Ors go through their own API channel. So therefore, this community license is opening up a new venue for US.
[09:30] orscalealrs, neo clouds to house these models and new revenue sharing kind of.
[09:31] Stream of revenues that could drive these Chinese airI model revenues. Do you see this is for the independent.
[09:31] AI labs, do you see a path to profitability, does it matter that they're currently perhaps not profitable from a stock analysis perspective?
[09:31] So we kind of look into the E economics and at what level of gross margins we'll cover.
[09:31] Of your talking numbers on a daily basis, margins for your inference that covers training cost and EBID in our estimates more like 202.
[09:31] 8ight to 2029, depending on which of the frontier level or more kind of agent, which is currently priced very.
[09:31] very low prices, but that would drive further and further adoption and a path closer to AGI, therefore the agentic AI is where.
[09:31] Our government research globally and our US teams are expecting the 24th X in token numbers from now to 2030.
[09:32] In tokens will likely bring a much bigger pie of tokens in than the revenue pool and the gross profits that could cover the business models of these companies.
[09:32] But we're also watchful for regulations, all the different things that could impact the swing of the revenue forecast that we have for the Chinese Air model.
[09:32] Like also, as you alluded to workplace applications seemed to be the next realm of competition.
[09:32] Leave the older internet names. I mean, how do things stack up then Yeah, So amongst the mega caps fight danceance, Alibaba.
[09:32] And they have been focusing on various aspects of frontier, either the Quen 3.8 max that we talked about or Tencent.
[09:32] When HY3 is actually a much smaller model, but has very low cost and a much lower pricing setup. And then we think by dense is a multi.
[09:32] focused, which means not just the text model, Dobao and a consumer facing app that is number one in China, but they also have a very strong.
[09:32] Tomodal video generation called C dreamam, A C dance and C dream for image. So C dance is where recently the H3 from Min Macs.
[09:33] I coming up with an open weight approach. So if we looked at the deep seek moment, which is the open source approach for text model.
[09:33] Then the recent launch of Minmatch H3 actually bringing a open weight, really useful and comprehensive.
[09:33] Up to the open weight. So yes, competition will increase, but our mega caps are first focused on keeping themselves in the model layer, but also.
[09:33] Hest that we talked about and what haven't talked about yet is cloud and data centers, which is our top subsector China international so the question?
[09:33] What's the best way to play China AI now across we believe that growth in tokens and the Capex uplift.
[09:33] ing for the second half of this year as domestic chip supply increases cloud and data centers our top preferred subsector.
[09:33] And that's where the hyperscale is, which are the internet megacaps are best positioned with strong cash flows, the ability to fund the Capex and grow.
[09:34] Cloud business, where we're estimating 45% growth for Alibaba cloud business in the June quarter that we anticipate.
[09:34] The key numbers that are actually driving the growth is driven by the token numbers that we talked about across the Model stackack.
[09:34] And the agent driven tokens fantastic and some of the names there, GDSVnet, Alibaba and Kingsof Cloud, the price target.
[09:34] Just to on Juru is 1610, Minne Max is 800, that was Ronald Kunghead of Asia internet Research at.
[09:34] s, right, ahead on shows, you're not going to want to miss this one, okay, you're going to be quite surprised to see actually some of the results here.
[09:34] I'm Roium will be joining us in about 30 minutes from now, so they've actually done an analysis on several metrics, how the US stack.
[09:34] 🎼U against China or vicea not just chip, but the entire everything that needs to go into an AI supply chained.
[09:34] Hard Carizal will talk about that at those times on your screens, lots from more head, this is oneber.
[09:35] 🎼Technology is embedded in every aspect of our lives and that revolution.
[09:36] 🎼Is playing out in real time from finance to defense tech, AI to entertainment from the road to the stars.
[09:36] 🎼Bloomberg is bringing you the stories of companies and people that are pushing tech to new frontiers and the politics reshaping globe.
[09:36] 🎼I'm Ed Lodlo live in San Francisco and this is Bloomberg Tech.😊
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[09:36] Bloomberg.
[09:36] Ring dog, not our favorite.
[09:36] That is the latest private survey that's coming out today. So we're looking at.
[09:37] AndWe're looking at 50.4 and services so above 50 that's coming in.
[09:37] A few points shorter than estimates there on the composite side, also an expansion of 50.8, I should note, while an expansion both are a drop from the previous month.
[09:37] The other one, of course, missing estimates there, and this follows on from the manufacturing PMIs that we've been seeing softening as well into.
[09:37] Let's talk about memory, though, because we've been trying to dissect among the top three so far.
[09:37] Is there chunkngs in memory that's really giving them a run for their money cxMT is said to be poised to produce smartphone memory.
[09:37] On par with the industry's most advanced designs, our chief north asia correspond Engel is with us so steve, what do we know?
[09:37] Yeah, this would be a very interesting development, obviously, because cxMT really coming on the global stage as far as.
[09:38] Awareness and with their big listing and the like only recently, of course, there's that big trioply between SK Hex and Sam.
[09:38] An electronics and micron that really dominate the memory chip space, and obviously the industry is faced with shortages.
[09:38] With all the developments in AI, so on the one hand, if cxmt is coming out with the advanced six generation.
[09:38] Low power, double data rate, DDR chips that would be on par with the most advanced chips from those three big companies.
[09:38] That would be a significant development, it's something that some even in siliconicon valley have called for because of the shortage right, but again.
[09:38] MT is on the Pentagon blacklist, so there's all kinds of different export restrictions that could come into play here.
[09:38] But again, this is the kind of memory chip that would allow lower power, faster efficiency power.
[09:38] And see, I should say faster speeds that allows you to do AI apps locally, so on your smartphone, on your laptop.
[09:39] So this is according to the source right now, so we'll have to see if this can come to fruition, would be a big development.
[09:39] For Beijing's pursuit of self sufficiency in these kind of indigenous technology developments amid those export restrictions.
[09:39] And not that challenges have stood in the way for the most part, they've found a way to solutions for that, but what remained the biggest challenges here that they need to?
[09:39] Well, to produce one is fine, can you do it at scale, they can probably do it at a cheaper price.
[09:39] But can you reach the scalability and the efficiency of the longstanding players, that would probably be the biggest question and can they keep.
[09:39] Pace with the rapid development and the pace of development, because sk Hex for one has their most announced in march, I believe.
[09:39] Recent six generation low power, LP, DDR6, that's the next generation, also Samsung Electronics.
[09:40] Has talked about they have the similar thing in the pipeline, and SK Heinx is talking about just from one generation to the next.
[09:40] 33% faster speeds and also 20% more power efficiency than the LPDDR5.
[09:40] So again, can you build it at scale and can you keep up with the efficiencies that the existing players have?
[09:40] Steve, thank you so much, Stephen Enlo there, our chief North Asia correspondent, market reaction, if any on your screens for flat on cxMT or up from Korea, but that's perhaps down.
[09:40] To most other tailwinds were are feeling across the risk acid space here in the Asia Pacific today, I look at markets on that note, lots of more ahead, we'll take a short.
[09:40] reak,This is Bloomberg.
[09:41] 🎼In case you missed it.
[09:41] 🎼It's on Daybreak Europe we're talk going with the EU regulator on this though Look, as I told you, I interact a lot with America.😊
[09:41] And Chinese players. And we see Trump fighting for their companies all the time. We see the Chinese fighting for their companies all the time. here in Europe, I feel I'm fighting.
[09:42] Against the European regulators, not that they are fighting for us. They are fighting against us. It's a big mistake because we need to have really big global tech.
[09:42] 🎼Le life every bringing you up to the minute geopolitical news whenever.
[09:42] And wherever it happens, I'm Stephen Engel at Japan's Okasaka Palace in Tokyo, and this is bloomloberg.
[09:42] Here are some of their corporate stories.
[09:42] 🎼Following, paramount posted a surprise surge in second quarter profits as cost cuts tied to its sky dance merger continued.
[09:42] 🎼Payoff adjusted EBITDAbit rose 27% to $1.1 billion while streaming profits jumped and Paramount plus subscriber.
[09:42] 🎼estimates the company said it still expects its proposed $110 billion acquisition of Warner Brothers discovery.
[09:42] Despite legalWe remain highly confident that this transaction will close.
[09:43] 🎼preparingreing for basically a successful combination once it does. If you take a step back and just look at exactly where we are today, we received approvals from.
[09:43] Basically, you know 65 regulators representing 65 countries around the world, including the United States federal government.
[09:43] Canada, European Union, China, and many more.
[09:43] Blackstone is said to be exploring a second megatt package to finance anthropics use of Google AI chips.
[09:43] 🎼To say one initial proposal was for at least $36 billion of debt. if finalized the deal would exceed the 35 billion of.
[09:43] lined up by Apolo and Blackstone some two months ago to fund Anthropics lease of Google's custom chips.
[09:43] Bloomberg has learned that Anthropic has struck a $10 billion deal for computing capacity from NviDdia back startup.
[09:44] Volta infrra Volta earlier said it secured a deal with an unnamed AI lab and the agreement will run for six years.
[09:44] 🎼Enthropic's latest effort to secure the computing power needed to meet its growing demand for AI products.😊
[09:44] And AI models from open AI, as well as Anthropic have been involved in previously unreported cyberseity incidents.
[09:44] The UK's AI Security Institute says during an evaluation, myththos 5 and GPT 5.6 so models.
[09:44] 🎼Egaged in what it called sustained potentially harmful activity against people and organizations, open AI and Ananthropic.😊
[09:44] Are now working with the institute to investigate the incidents and shares dropped in late trade.
[09:44] The chip make gave an underwhel sales outlook its third quarter revenue will come in around 13 billion.
[09:44] Of the most bullish estimates, CEO lis told analysts the company expects its data center revenue to more than double in2.
[09:45] 🎼27 with growth that could come in at more than 100% and it's interesting we' seeing the aftermarket performance in AMD.
[09:45] It's negative but the capex and how they've leaned into it along with the lives of SpaceX that seems to be propelling tech stocks in the region.
[09:45] I mean it really is right, someone's cost is someone else's revenue right and I think it's there we go on your screens, right, perhaps that's further down to supply chain.
[09:45] The markets are playing it, these hardware names are, as you can see, seeing some dies in upside Han saying tech, up six tens of 1%, some of that, of course go.
[09:45] Into that other benchmark you see bottom of your screens, part of that also is we are still getting a rally across some of the AI labs, AI houses J.
[09:45] And minimax, interesting the price action in the last 30 minutes is we are still down, but we're coming of lows quite quickly.
[09:45] Now at about half the losses in the opening minutes for some of these optical stocks, they're trimming that solar stocks on the way up last we checked.
[09:46] More about that, plus of course, the broader markets, correct myself we're now down in that, lots from my head, this is Woomberg.
[09:47] Do you mind being called an ideological lunatic or a bunch of left wing nut jobs?
[09:47] I've been called worse things than that.
[09:47] You think she own the place 23 and me, I think is so incredibly valuable, we're coming back.
[09:47] Have that kind of detective story feel to it, you know, when you're hot on the trail of something, you know that it's very exciting?
[09:47] you reading as aI don't think I was reading magazines until I was in them You are on the cover of all of these Oh and there's many, many.
[09:47] But we've enough time Why should people trust you I don't think anybody should trust any company or entity completely with.
[09:48] Any of this it's very Art intelligence is this force that is far bigger than we are.
[09:48] 🎼Better The shock will never wear off and.
[09:48] One of the powerful companies in the world when you argue who wins.
[09:48] You can see AI being banned or blocked as if something really went wrong and if something really went wrong, then maybe it deserves to be.
[09:48] Ice ahead or Gattica, maybe somewhere in the middle.
[09:48] 🎼In case you missed it on Bloomberg crypto.
[09:48] Is the end game here for Coinbase, your new company to become a full range, fully integrated financial firm that ends up coming?
[09:48] the that you, our goal as you identified is becoming the everything exchange want to be a one stop shop where you.
[09:49] Stocks, commodity futures, crypto, we either have it or are going to want to try to build it so we see the entire financial.
[09:49] Industry as both partners and potentially competitors, because the future of finance is going to run on crypto rails and Coinbase has been.
[09:49] A leader in that regard, so we see an inevitable convergence between traditional finance and crypto so that a couple of years,
[09:49] Now, even your questions are not going to be identifying this dichotomy within the industry, but rather talking about how every model.
[09:49] Financial institution is embracing the efficiencies and benefits that crypto provides don't miss bloomloberg crypto live Tuesdayesday.
[09:49] 🎼The countdown is on everything you need to get the edge at the end of the market day.
[09:49] Head of tomorrow's trading with the close weekdays on bloomloberg contact changes everything.
[09:50] Bringing you the latest geopolitical news whenever and wherever it happens, I'm David Garra Solaruni in Bolivia and this is B.
[09:50] Welcome back to the China show, here's a look at the Hang S half hour into the session, of course, day that we've been watching.
[09:50] Confluence of tech factors when it comes to the headway that the memory maker seems to be making, but also the tailwind.
[09:50] From the SpaceX AMD capital expenditure that seems to be driving, maybe more of that AI momentum.