Nvidia CEO Jensen Huang believes China will defeat US in artificial intelligence competition according to Financial Times

Asian shares rose Wednesday as investors gained confidence from positive economic data and central bank support. Chinese markets led gains, fueled by strong manufacturing data and stimulus expectations. Japanese, South Korean, and Australian markets also advanced on positive sector-specific news. While acknowledging potential volatility, analysts maintain a positive outlook based on solid economic fundamentals and supportive policies. Investors are watching upcoming U.S. inflation data and Asian policy decisions for further market direction.

Nvidia CEO Jensen Huang warned that China may win the global AI race due to lower energy costs and fewer regulations compared to the West. He noted that Chinese tech companies receive significant energy subsidies, making power essentially free for AI operations. Huang criticized Western "cynicism" toward AI and expressed concern about US restrictions on chip sales to China, suggesting that multiple state-level AI regulations could hinder American competitiveness. Despite US export controls, Huang emphasized that American AI models maintain only a narrow lead over Chinese alternatives.

Snap exceeded Q3 revenue expectations with $1.5B and announced a $400M partnership with Perplexity AI to integrate its answer engine into Snapchat's chat by 2026. This marks Snap's first major external AI integration, complementing existing AI features like MyAI chatbot and creative tools. User growth remained strong with 943M monthly active users. CEO Evan Spiegel views this as part of a broader strategy to make AI more personal and social while creating a platform for AI companies to reach Snapchat's global audience.

Duolingo exceeded Q3 revenue expectations with $271.7 million, raising its 2025 forecast to over $1 billion. CEO Luis von Ahn highlighted that AI features, particularly in the Duolingo Max subscription tier, are driving profitability with a 72.5% profit margin. Paid subscribers increased by 34% to 11.5 million, with strong growth in China following a Luckin Coffee partnership. The company's AI-powered features—including Explain My Answer, Roleplay, Birdbrain, and Video Call with Lily—have enhanced user engagement, reduced speaking anxiety, and increased language learning confidence.