technological

There is an island without which the world would not function. This is how Taiwan has become a world technological epicenter: Crossover 1×35

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In February 1974, the Prime Minister of Taiwan met with a small group of experts and together they came to a conclusion: the country had a difficult time with the economic strategy of the time, and they had to make a bet on the future. That bet They were, of course, the semiconductors. That famous meeting marked a before and after for a country that has a very delicate geopolitical situation. China considers it a rogue state, but while they have their own government and currency. Despite this tension, Taiwan has managed to become a strategic partner of countries such as the aforementioned China or the United States, and in both cases for the same reason: chips. Taiwan has managed to become a absolute giant in the semiconductor industry, and this is demonstrated by the company that It is the crown jewel of the country: TSMC (Taiwan Semiconductor Manufacturing Company). Since it was founded in 1987, the company has grown and its alliance with Apple in the early 2010s has proven crucial to its current dominance. But before all that happened, Taiwan went through a complicated process that included wars and dominance by Japan for nearly half a century. In this episode of Crossover we precisely analyze the history of this peculiar island and how it faces a future that, even with its current position, is full of challenges. On YouTube | Crossover In Xataka | TSMC’s only problem was that it was in Taiwan. So the United States has decided to get her out of there

Quietly, Big Tech are ceasing to be exclusively technological companies to be something else: energy

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Big technology companies not only compete for AI engineers. Now they also do it by energy profiles. And it is no wonder, because without the electricity that powers mammoth data centers necessary for AI tools to remain operational, the AI ​​race slows down. A bottleneck. AI has become the strategic axis of Big Tech, but its biggest bottleneck is no longer the talent around its systems, but access to energy. Data centers training and running larger and larger models consume massive amounts of electricityand guaranteeing that supply has become a business priority. According to account According to CNBC, with data collected by Workforce.ai, the hiring of energy-related profiles grew by 34% year-on-year in 2024. Numbers. As the media reports, a similar jump also occurred last year, with a level of energy profile hiring 30% above that of 2022, just before the explosion of generative AI after the launch of ChatGPT. The main reason is structural, since data centers represented approximately 1.5% of global electricity consumption in 2024, after growing 12% in five years, according to data of the International Energy Agency. Everything indicates that this demand will continue to increase as new AI infrastructure is deployed. What profiles are you looking for?n the Big Tech. According to stands out the middle, Technology companies are looking for much more operational positions: experts in energy purchasing, electricity markets, grid connection and energy strategy. CNBC reports that these positions are directly linked to ensuring real supply, not only to improving the environmental image of companies. Furthermore, not everything is about guaranteeing supply at any cost, but also about ensuring that electricity can be obtained in the most efficient way possible. Who is winning the talent war. Amazon and Microsoft lead in volume of energy signings from 2022, according to point the middle. Amazon has more than 600 additions (including AWS), while Microsoft has more than 570. In the case of the latter, in 2024 signed Carolina Dybeck Happe, former chief financial officer of General Electric, as chief operating officer, a gesture that many interpret as a strategic commitment to integrate energy and management on a large scale. Google, for its part, has accelerated in recent months with more than 300 hires, incorporating profiles from both large energy companies and the academic world. Between the lines. The strategy is not limited to hiring people. Big tech is also buying other companies. Alphabet, Google’s parent company, agreed the acquisition of data center company Intersect for about 4.75 billion dollars. At the same time, they outsource key phases such as the construction of infrastructure, relying on temporary contracts to manage projects, land and works. The clash with the traditional energy sector. The medium too points outthrough data provided by specialized consulting firms, that more and more senior energy infrastructure professionals are considering making the leap into technology, attracted by higher salaries and projects linked to data centers. The problem is that the most in-demand profiles, such as energy strategy or grid connection, were already scarce in the traditional and renewable energy sector. This has led to a tighter and more competitive talent market. Not everything is direct absorption. Some analysts also see opportunities for electricity companies. Travis Miller, energy and utilities analyst at Morningstar, explains to CNBC that the magnitude of the demand makes it unfeasible for Big Tech to do everything on their own. In many cases, they will rely on traditional public service groups to develop infrastructure and operate networks, which can translate into new revenue and employment in the sector. And now what. The border between technology and energy is being diluted in a very interesting way. Meta, Amazon, Google or Microsoft already sign long-term power purchase agreements, even with nuclear projectsand some have requested permits to trade electricity and sell surpluses to the grid. “There are technology companies that are becoming energy companies,” account Daniel Smart, CEO of The Green Recruitment Company, in the middle. Of course, for now, only to feed its own AI. Cover image | Microsoft In Xataka | AI is creating a new paradigm of success: products that everyone uses but have to close due to lack of income

We still don’t know if humanoid robots will be the next great technological revolution. Yes we know that China will lead it

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There are a lot of companies determined to sell us the idea that, in the not too distant future, everyone we will have a humanoid robot at home. We have many doubts that they will be the revolution that they promise (and there are reasons for this), but in China they have it very clear. Patents. They count in South China Morning Post that Morgan Stanley has published volume 3 of its series ‘Robot Almanac‘, which details some key data on the state of the humanoid robot industry. China is far ahead when it comes to patents, having registered 7,705 patents in the last five years, while in the United States they have registered 1,561, almost five times less than its technological rival par excellence. Dependence. It’s not just about patents, China has another key advantage and that is that its production lines are much more efficient from a cost point of view. This causes the rest of the companies that manufacture humanoids to depend on them if they do not want their production costs to skyrocket. The cost of building a supply chain in which China was left out would raise prices exponentially. The report estimates that manufacturing the Tesla Optimus Gen 2 without China’s participation would raise the cost from about $46,000 to $131,000. Obsession with robots. Humanoid robots from companies like Unitree or Deep Robotics have been in the public eye for a long time. We have seen them participate in the first robotic olympics, fight, play soccer and how dance corps in macro concerts. They are appearances clearly focused on going viral, showing their capabilities to the world and, ultimately, making people see them as something cool and want to buy one. However, although humanoids take all the spotlight, they are only the tip of the iceberg of a strategy that goes much further. Personified AI. In English it would be ’embodied AI’ and it is the approach that China has taken in his particular AI career. The government included the term in his job report this year, which highlights its strategic importance. More than large language and software models, China wants AI that is present, whether in the form of humanoid robots, drones, autonomous vehicles or industrial robots. Speaking of industry, guess who has 51% of all industrial robots in the world. Exactly: China. Industrial robots. According to data from Financial TimesChina installs 280,000 robots a year in its factories with a clear objective: automate to achieve greater efficiency and power continue being the factory of the world. Now that workers’ salaries are higherthe way they have found to remain competitive against markets like India or Bangladesh is automation. Image | Andy Kelly in Unsplash In Xataka | I have asked for water from the first humanoid robot working in Beijing. It’s a weird vending machine.

China dominates technological industries invented by the West

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iRobot, pioneer of domestic robotics and creator of the Roomba, has gone bankrupt and ends up in the hands of Piceaa Chinese manufacturer. It is not an isolated case but rather the symbol of a devastating trend in which Western companies develop technologies for decades and China ends up appropriating entire industries. iRobot was founded in 1990 by three MIT researchers. It launched the first Roomba in 2002 and sold 50 million units. For two decades it dominated the robot vacuum cleaner market. In 2021 it was worth $3.5 billion. Today it is worth 140 million25 times less. Picea cancels its 264 million debt and keeps everything. Why is it important. It’s not just about vacuum cleaners. Chinese manufacturers – Roborock, Ecovacs, Dreame, Xiaomi – already control almost 80% of the global robot vacuum cleaner market. With Picea purchasing iRobot, that figure is close to 95%. China not only manufactures cheaper: it now owns Western innovation that it previously only copied. The pattern repeats: Volvo has been Chinese since 2010. Motorola too. Segway, the scooter that was going to revolutionize urban mobility, ended up in the hands of Ninebot. Lenovo bought IBM PC. Haier took over GE Appliances. Geely owns Lotus. Western brands survive, but only as shells with Asian engineering inside. Between the lines. Europe blocked Amazon’s purchase of iRobot in 2024 for fear that it would dominate the smart home. The result: the company was not independent, but ended up owned by its own Chinese manufacturer and creditor. European “protection of competition” resulted in iRobot falling into the hands of its foreign rivals. iRobot outsourced its production to Vietnam to avoid Chinese tariffs, but Trump’s 46% tariffs on Vietnam cost it an extra $23 million in 2025. Meanwhile, Picea was simultaneously its manufacturer, its major creditor, and its indirect competitor. It didn’t even take a hostile takeover: just financial patience. He waited for iRobot will drown in debt and collected the remains. The invisible cost of innovation. iRobot invested decades in R&D: military robotics, space robotics, domestic autonomous navigation… That research is expensive, slow and risky. Chinese manufacturers have not had to pay that cost. They just had to wait for the technology to mature, copy what worked, and improve execution. The asymmetry is total. The West imposes antitrust restrictions on itself that slow domestic consolidations while Chinese companies operate with extensive state support, protected access to a domestic market of 1.4 billion consumers and regulatory scrutiny that cannot even be compared. Europe has recently blocked other similar operations, such as that of Adobe and Figma either that of Broadcom and Qualcomm. Yes, but. It is not about approving any acquisition without scrutiny, but about recognizing that blocking the purchase of Amazon has led to an objectively worse result: pioneering American technology that ends up in Chinese property. If you are truly concerned about Chinese companies dominating strategic sectors, this was a blunder with predictable consequences. Western governments constantly talk about technological sovereignty and their willingness not to depend on China. But concrete actions are producing the opposite effect. Ultimately, the only thing the West loses is not its industry, it is ownership of its technological innovation. In Xataka | The largest food chain in the world is Chinese, surpasses McDonald’s and is unknown in Europe: Mixue Featured image | Onur Binay

There is already a first crack in Chinese technological optimism: DeepSeek

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Chen Deli, senior researcher at DeepSeek, has admitted at a state conference who is “extremely positive about technology, but pessimistic about its impact on society.” It is the first time that a representative of the Chinese company has spoken publicly since February, when its founder met with Xi Jinping after provoking that world earthquake with the launch of R1. And he has done it with that pessimistic outlook. Why is it important. This message comes from a company that the Chinese government has turned into a symbol of technological capacity and resilience in the face of US sanctions. That one of its leaders recognizes great risks for employment is a notable turn in a country where the official discourse is usually triumphalist. The facts. Chen participated in the World Internet Conference in Wuzhen along with the heads of five other companies known in China as “the six little dragons” of AI. His diagnosis has a gloomy tone: in one or two years, AI will be good enough to start replacing human jobs. In a decade or two it could take care of the rest. “Society could face an enormous challenge,” has said. “Tech companies need to take on the role of advocate.” Between the lines. This is not an American CEO peddling apocalypse smoke to inflate his valuation. In China, the State regulates technology with a firm hand. When Sam Altman says that AI will “probably lead to the end of the world, but in the meantime there will be big companies,” it sounds like marketing. When a DeepSeek executive says it at a conference organized by the government, after many months of silence and after its founder met with Xi, it sounds like a party line. The context. DeepSeek exploded in January with DeepSeek-R1a low-cost, open-source language model that was on par with American leaders. Since then, absolute exit. The founder, Liang Wenfeng, has appeared only once in all this time: at a televised symposium with Xi Jinping in February. Neither Liang nor the company has made public comments since then, and they have skipped all major Chinese tech conferences. Yes, but. While sending this message of caution, DeepSeek is in the process of consolidating itself as a cornerstone of the Chinese AI ecosystem. Chip manufacturers such as Cambricon and Huawei have developed hardware compatible with their models. In September, the company launched an “experimental” version of its V3 modelnotable not so much for its efficiency as for creating an alternative to NVIDIA’s CUDA API and its support for Chinese GPUs. In August, the simple announcement of a model optimized for national chips shares of the sector skyrocketed in the local market. And now what. Xi Jinping has proposed a little over a week ago on the APEC forum that there should be a global body that governs AI, making it “a public good for the international community.” Now a DeepSeek representative talks about AI as a potential threat that requires a unified approach from the technology sector. The narrative is shifting from triumphalism to preventive regulation. Featured image | Xataka, DeepSeek In Xataka | We believed that no open model could outperform GPT-5. A Chinese startup proves us wrong

In China they have created a material for their fighters that opens a new technological direction: it aims directly at radars

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From the early days of World War II to the stealth fighters of the 21st century, the goal of remaining unnoticed by the enemy has been a constant obsession in military aviation. Aerial “invisibility”, more than a myth, It is a technological challenge that has marked decades of innovation in materials and design. A team from Chinese universities describes a flexible and ultra-thin coating capable of absorbing radar waves without losing thermal resistance, collects SCMP. If its effectiveness is confirmed in flight, it could change the conversation about modern aerial stealth. The development was detailed on October 14 in Advanced Materials. The study, signed by Cui Guang, Liu ZhongfanHuihui Wang and Maoyuan Li, among others, presents a graphene-on-silica-fabric (G@SF) metasurface that combines flexibility, low weight and thermal resistance of up to 1,000 degrees Celsius. According to its authors, the direct integration of the material into the insulating layer of an aircraft would allow the reflected radar signal to be reduced to −42 dB, without compromising the structure or weight of the aircraft. A surface that wants to defy the radar The material is based on a silica textile base on which the researchers deposited graphene using a chemical vapor deposition process. On that layer they applied a laser “erasing” technique, which allowed them to create a precise pattern on the surface and adjust your electrical impedance. In this way, they claim, they managed to make the coating effectively absorb electromagnetic waves without needing to increase its thickness or weight. The result is a flexible, ultralight metasurface with an adjustable sheet resistance between 50 and 5,000 ohms per square. {“videoId”:”x9ri2iu”,”autoplay”:false,”title”:”How China, the biggest polluter on the planet, has also become the complete opposite”, “tag”:”webedia-prod”, “duration”:”740″} Laboratory tests showed that the material maintains stable performance even under extreme conditions. After five minutes of exposure to 600 degrees Celsius in air, it retained its absorption capacity, and also withstood prolonged heating to 1,000 degrees in a vacuum without degrading. In tests with air currents of up to 200 meters per second, its loss of efficiency was less than 1%, and neither the surface pattern nor the resistance of the sheet were altered. These properties make it an ideal candidate for high-speed aircraft exposed to intense heat and friction. Withstood prolonged heating to 1,000 degrees in vacuum without degrading The material described in the study poses a possible alternative to conventional coatings, although it has yet to be demonstrated whether its advantages are sustainable outside the laboratory. US stealth fighters, such as the F-22 and F-35they use absorbent compounds They offer good initial performance, but require constant and expensive maintenance. In China, the J-20 has been seen with a coating apparently more stable, although those impressions come from displays and not verifiable technical data. The difference, for now, is in the discourse rather than the evidence. The new coating is still far from becoming a technology in real use, but it illustrates the direction of Chinese research in stealth materials. The challenge is not only to achieve high performance in the laboratory, but to keep it in flight and under extreme conditions. Chinese scientists aim to solve one of the most persistent limitations of modern fighters: the fragility of absorbent coatings. If the material achieves this stability, it could open a different stage in aircraft protection. In Xataka We believed that the F-16s were Ukraine’s great achievement: it has just taken the first step to receive up to 150 European Gripen fighters Beijing has set 2035 as the horizon to complete the modernization of its armed forces. In this context, the development of new compounds, sensors and materials responds to a broader policy aimed at strengthening its technological and military industry. Each advance in the field of stealth materials is interpreted not only as a technical improvement, but also as a step towards greater strategic independence. Images | Wikimedia Commons | Arthur Wang In Xataka | The Chinese ambition to lead each and every area of ​​the planet has found its next adversary: ​​Jaén (function() { window._JS_MODULES = window._JS_MODULES || {}; var headElement = document.getElementsByTagName(‘head’)(0); if (_JS_MODULES.instagram) { var instagramScript = document.createElement(‘script’); instagramScript.src=”https://platform.instagram.com/en_US/embeds.js”; instagramScript.async = true; instagramScript.defer = true; headElement.appendChild(instagramScript); } })(); – The news In China they have created a material for their fighters that opens a new technological direction: it aims directly at radars was originally published in Xataka by Javier Marquez .

China is taking a giant step in its quest for technological self-sufficiency: its own EDA software

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A company called Qiyunfang just done a unique presentation at the Bay Area Semiconductor Expo held in Shenzhen, China. In it he has presented two EDA platforms. And with them it has opened the door to something in which the Asian giant totally depended on the US: designing your own chips. What is EDA. Electronic Design Automation (EDA) software is the fundamental tool and the gateway to be able to design chips and printed circuit boards (PCBs). Historically, this segment has always been dominated by American companies: Synopsys, Cadence and Mentor Graphics / Siemens EDA were the absolute references. They “translate” the ideas of the engineers who design the chips, and convert them into functional plans that manufacturers such as TSMC or SMIC can manufacture. Who is Qiyunfang. This company, founded in 2023, is not just any one: it is SiCarrier subsidiarywhich in turn collaborates with Huawei Technologies. As if that were not enough, SiCarrier is a semiconductor manufacturer that has financial support from the Shenzhen government. The US had China tied. In May of this year, China began to block the export of its rare earths, and the United States responded with a blockade that was equally harmful to China: the aforementioned American companies They could no longer sell their services and their EDA software to its Chinese partners. It was one of the most effective ways to “strangle” the Chinese semiconductor industry: if you can’t design the chip, it doesn’t matter if you have factories to produce it. SMIC, for example, it’s been 20 years using Synopsys EDA design suites. With the veto he was left unable to use them. China once again opts for self-sufficiency. The solutions presented by Qiyunfang theoretically allow for domestic solutions for EDA software for both schematic designs (conceptual design) and PCB (physical design of the board). Not only that: these platforms run on a completely Chinese software stack—operating system, database, middleware. Qiyunfang is not a product, it is a break with dependency in two of the crucial stages of chip design. The key is technological independence. If these platforms comply, China will have a solution immune to sanctions, also integrated into the Chinese national technological ecosystem. The trade and technology war that the country maintains with the United States has encouraged both parties to seek precisely to avoid dependence among themselves and also with other countries. It’s the “I’ll stew it, I’ll eat it” taken to the maximum extreme. The other challenge: advanced chips. Even having its own EDA software, China still has a colossal challenge with advanced chips that use 3 and 5 nm photolithography and that take advantage of UVE technologies. They continue working on these types of systems, but until they have them, Qiyunfang’s software platforms are a fantastic option for developing more “mature” but equally important chips such as those for the automotive sector or industrial applications. China continues to move key chips. This news confirms the trajectory that Xi Jingping established with its famous “Made in China 2025” plan. It seeks to conquer the key technologies of the future: AI, robotics, automotive and of course the manufacturing of semiconductors without external dependencies are little by little a reality in the Asian giant, and this new milestone of this Chinese company seems to demonstrate it. In Xataka | Before the tariffs, China bought most of its beef from the US. After the tariffs another country has won

Sora’s AI is resurrecting dead celebrities to turn them into cheap viral content: it’s technological nonsense

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What of digitally resurrect deceased public figures It’s not new, but Sora 2 by OpenAI is crossing the line from homage to pure morbid entertainment, with videos ranging from harmless humor to the most explicit cruelty. This phenomenon, which has provoked the indignation of relatives of the daughter of actor Robin Williams, raises serious ethical and legal questions. What is happening. Michael Jackson shows up at a KFC and steals a man’s fried chicken while dancing away. Pope John Paul II does some skate tricks. Albert Einstein gives an interview after a UFC fight. These are just a few examples of what people are doing with Sora 2. There’s more: Martin Luther King, Kennedy, Nixon…many videos have a humorous and seemingly harmless tone. Others, however, are in very bad taste, such as those that show a Stephen Hawking being abused brutally. And the worst thing is that no one seems to be stopping it. The Robin Williams case. Zelda Williams, daughter of the late actor, has used her Instagram account to show her rejection of this trend. “Please stop sending me AI-generated videos of dad. Stop believing that I want to see them or that I will understand them. I don’t want them and I won’t understand them,” he said in his message. Although he does not give details about whether the videos he has received are made with Sora 2, his complaint comes just a few days after its release. The cameos. They are the great novelty of Sora 2 and one of the reasons for its popularity. In fact, the app was launched with a cameo by Sam Altman that has already generated all kinds of memes. With cameos you can create funny videos of yourself or a friend, but Sora won’t let you make videos of real people unless they have given their consent. Except if those people are dead. Blurred boundaries. In it Sora security document 2OpenAI states that “only you can decide who can use your cameo, and you can revoke access at any time. We also take steps to block depictions of public figures.” However, they don’t say anything about public figures who have died, and from what we’re seeing, it doesn’t seem like these guidelines apply in the same way. According to the TechCrunch teststhe app does not allow you to create videos of Jimmy Carter or Michael Jackson (although there are published videos), but it does not cause problems when doing so with Robin Williams or Richard Nixon. defaming the dead. Although it is ethically questionable, at a legal level things change. In the United States, where OpenAI operates, legally it is not possible to open a process for defaming a deceased personso the company would not have any responsibility. In Spain it is similar; the Organic Law 1/1982 includes the right to honor, personal and family privacy and one’s own image. However, according to the article 32 of the civil codecivil personality is extinguished after death. Yes, it could be the case that heirs claim the right to honor of the deceasedbut it is a complex process and full of nuances. The new AI dump. At the beginning of the year we talked about how Junk AI or ‘AI Slop’ had flooded the networks. Were most disturbing videosof very bad tastebut they were clearly made with AI. With Sora 2 a dangerous door opens and it is that of a new AI dump more realistic than ever. If we add to this the use of the image of deceased people as if they were toys with which we can do whatever we want, no matter how legal it may be, it sets a very worrying precedent. Image | tiktok In Xataka | OpenAI and AMD have just signed more than just an AI agreement: it’s the barter of desperation

The war between China and the United States has uncovered a technological “mercenary”: Oracle

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While giants like Microsoft, Google or Meta The headlines monopolize Regarding the AI ​​and the rest of its technologies, Oracle has been silently positioned as the perfect intermediary in the technological pulse between Washington and Beijing. After The acquisition of Sun Microsystems In 2010 to be in charge of Java, a key piece for the operation of multiple technologies in our electronic devices, Oracle’s power was increasing. Now his record It expands thanks to the AI already its involvement in Tiktok’s agreement. THE BUSINESS OF NOT CHOOSE BANDO. Oracle has built its strategy in being the neutral provider that does not directly compete with its biggest customers. While Amazon Web Services or Microsoft Azure can generate friction because of their direct competition, Oracle offers infrastructure without the threat of removing the business being present. This position allows you to work with both Openai and any rival, becoming the “mercenary” that everyone needs and nobody fears. His role in the rescue of Tiktok. The White House has confirmed that Oracle will be key in the agreement to maintain operational Tiktok in the United States. The company will be in charge of security of the American version of the application, managing the data of the users from centers located in American territory. Bytedance will retain 20% of the property, but Oracle will control the critical infrastructure that reassures legislators concerned with national security. More power, less prominence. While the big technological struggle to capture the attention of the final consumer, Oracle has chosen to remain in the shadow. His Cloud infrastructure business It does not have the glamor of social networks or AI attendees, but it has become essential. And the numbers accompany, because the company He has triggered his income Futures 359%, reaching 455,000 million dollars of capitalization thanks to contracts such as Openai worth 300,000 million to materialize the famous’PROJECT STARGATE‘. The perfect intermediary strategy. Oracle has maintained a position of neutrality in recent years, which has allowed him to benefit from geopolitical tensions without taking part publicly. When the United States needs a Chinese alternative to technological infrastructure, Oracle is there. When the companies of AI They need computational capacity Without depending on direct competitors, Oracle is also available. A network of contacts has been worked from which he has taken a lot of profit. The risks of success. This strategy is not exempt from dangers. The growing dependence of great contracts such as Openai turns Oracle into vulnerable to single -client. In addition, fulfilling such ambitious commitments will require significant indebtedness and an unprecedented infrastructure expansion. Its debt ratio on equity of 427% already overcomes that of competitors such as Microsoft, which is 32.7%, according to data of S&P Global Market Intelligence. Cover image | Oracle In Xataka | Great door or nursing: “circular financing” between Nvidia and OpenAi can be the genius of the century … or the collapse

There is a new “technological giant” in the US. The surprise is that it is not from the US, but from Switzerland

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ANDThe Swiss National Bank (SNB), a traditionally conservative institution, has ceased to be. In fact, it has silenced one of the most important technological investors in the world. The firm has accumulated a portfolio of actions of such magnitude that its value is equivalent to almost a fifth of the annual economic production of Switzerland. What happened. According to records From the US stock and values ​​commission (SEC) of the month of June, the SNB has 167,000 million dollars in shares of US companies, distributed in more than 2,300 positions. That makes the entity a first -order investor in Silicon Valley. Love for Big Five. More than 42,000 million of that portfolio are invested in just five technological giants: Amazon, Apple, Meta, Microsoft and Nvidia. SNB has A special focus on Applecompany in which it has invested almost 10,000 million dollars, and in Nvidia, where it has invested more than 11,000 million dollars. A gigantic entity. The Swiss National Bank is not a sovereign fund as such: its main mission is not active investment to make the country’s money grow. However, its asset balance, which amounts to 855,000 million dollars, places it in a league comparable to that of large investment vehicles from countries such as Singapore or Qatar. Experts, yes, They point that SNB is an entity that does not seek to influence these companies, and only uses its portfolio as a management tool for its currency. Banks do not do this. The SNB approach – which is not owned by the national government – is really atypical. The Bank of Japan For example, it makes use of mechanisms such as ETFs for its operation, and usually also buy shares from your own country. In Switzerland there are requests that the SNB manages that portfolio actively (as an investment fund) to make more profitability. Meanwhile, the European Central Bank warns that shares can be overvalued. And our Bank of Spain? The Bank of Spain, on the other hand, buys governments bonds to control inflation and interest rates throughout the eurozone. They all differ in their strategy, and clearly that of the SNB resembles an investment company than a traditional banking entity. SNB positions in US companies. Source: Financial Times with sec data. Switzerland is small to snb. But the Swiss bond market is too small for SNB operations, and that causes the entity to invest the foreign currencies that it acquires (mainly dollars and euros). He does it in bonds and, as we have seen, in abroad actions, a strategy that some analysts They call “Foreign quantitative flexibility” and that has led him to invest in those actions of technology companies in the US. The powerful Swiss Franco. The argument that defends that strategy is that of the Swiss Franco strengthconsidered a global shelter currency. Having a strong currency is fantastic, but it is not good that it is too much Strong because it slows exports and can cause deflation: the extrin products become very cheap for the Swiss and make the Swiss companies very difficult to compete. To counteract all this, SNB does the opposite of what investors do. Sells francs – adding the offer – and buy foreign currencies that he does not want to have stops, so he invests them in companies such as Apple or Nvidia. Passive-agreesive strategy. Although SNB philosophy is basically passive and does not exercise its voting rights in those companies, this entity adjusts its positions. The sec data reveals a great increase in their participation in NVIDIA or the creation of a new position in Berkshire Hathaway, and a reduction of assets in Meta and Netflix in the last two years. That, of course, has its risksbut SNB does not seem to go bad at the moment. In Xataka | All against Nvidia: the strongest Chinese companies in Chips and IA have created a historical alliance

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