The Bloomberg Sustainable Business Summit returns to Singapore on July 22nd.

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interactive workshops and networking opportunities. Learn more at Bloomberg Live.com

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Bloomberg Audio Studios, Podcasts Radio News.

Thank you. Radio Studios. Podcasts, Radio News. Bloomberg Tech is live from coast to coast with Caroline Hyde in New York and Ed Lovelow in San Francisco.

This is Bloomberg Tech coming up. China tightens its grip on AI, this time targeting overseas

travel by top AI professionals. Plus how big banks are looking to hire more AI specialists

and shrink traditional banking roles. And we'll look at the tech IPO landscape as SpaceX kicks

off an IPO Bonanza. And quite the timing for any sort of IPO right now because at a new record high once again, Ed, it's risk on. And that means we're buying semiconductors, we're buying hardware. The NASDAQ 100 at a new record high. We're up 1.7% on an intraday basis, that is. We're looking at the semiconductor index on fire. We're up 5% for the socks.

Why dig into some of the individual movers? We're seeing Micron at a new record high as we see analysts all pile in an extraordinary uplift from UBS in terms of a price target that more than doubles from where it's currently trading.

We're up 17% for Micron. But also you're shining a light what's happening with Qualcomm getting a real boost as

well. As we start to see new buyers of its A6, it's all about the hardware, Ed. From Asia to the

US session, there's a massive rally in chip stocks also because of a breakthrough in technology.

China's Huawei says it has a new

technique, logic folding, that changes how a signal passes through a transistor. So you can do away

with extreme miniaturization. You don't have to worry about the limits of extreme ultraviolet

lithography. It's a new design, but also method of chip manufacturing. And that has really sent

all kinds of chip stocks or supply chain exposure stocks, sending much higher. Here's the catch.

This is a technology that's many years away. Let's get more with Bloomberg Senior Tech Editor,

Mike Shepard. You know, it's so interesting because Huawei is coming out saying,

...