Jon & Dave · Bryant Park · chess · salt 85 wearing Rag & Bone & Zara & OAS

Xi Jinping arrives in Washington for the first time in eleven years, sits down with Trump, and Elon Musk is in the room. On the tape: American AI chips are surging (Nvidia +21%, AMD +179%), Chinese AI is retreating (Alibaba −25%, Baidu −38%), Tesla is down 13%, and SpaceX, now public with xAI folded in, is back at its $150 opening price.

Xi Jinping's state visit to Washington, his first in eleven years, coincides with a widening gap in the AI trade on the tape's daily closes to 22 Sept: Nvidia (NVDA) $228.87 +21% this year, AMD +179%, Micron +247%, while Chinese names slide, Alibaba (BABA) −25%, Baidu (BIDU) −38%. Elon Musk, in the room for the summit, has Tesla (TSLA) down 13%, but SpaceX listed in June (SPCX, ~$150, its opening price) with xAI merged in. Jon reads the board over chess in Bryant Park; Dave, hungover, just nods.