Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Thursday, November 6th, and I'm your host, Kim Khan. Our top story so far,

that didn't last long. Invidia CEO Jensen Wong is backtracking on his bold prediction that China will beat the U.S. in the AI race.

China is going to win the AI race, he told the Financial Times on the sidelines of an event Wednesday evening,

citing China's lower energy costs and looser AI rules.

He added that the West was being held back by cynicism and needs more optimism.

Market watchers saw this as a plea for

cheaper U.S. energy to feed data center demand, but an elegant one, likely to draw the attention,

if not the ire, of President Donald Trump. While the panic alarms were probably still echoing

in Vindia's PR department, Wong was out with a clarifying statement. As I've long said, China is nanoseconds

behind America in AI. It's vital that America wins by racing ahead and winning developers worldwide.

At the same AI event, Wong and other godparents of AI said machines have already reached

human-level intelligence in specific sectors. Met AI's Yan Li Kuhn and top computer scientist,

Yoshua Benjio, Jeffrey Hinton, Fei-Fei Li, and Bill Daly joined Wang at the Future of AI Summit.

Wang said, for the first time, AI is intelligence that augments people. It addresses labor. It does work.

The concept of artificial general intelligence, machines with human-like cognition,

remained a central theme, but the group agreed it won't arrive in a single dramatic moment.

Lecun said, it's not going to be an event. Capabilities will expand progressively across domains.

Fei-Fei-Lee stressed that AI's power still depends on human intellect. Hinton predicted machines could win debates within two decades.

And Benjillo added a note of caution. Be agnostic, don't make big claims. There are many

possible futures. From the market perspective, is this all too much too fast? T.S. Lombards,

Dario Perkins, says the current investment surge carries plenty of echoes of past bubbles,

...