{
  "docId": "019dd923-5e88-73ef-bd5d-0d0f98caffe1",
  "docSlug": "5df6bd1b0447b5f6",
  "documentTitle": "2025 Air Street Capital The State of AI Report 2025",
  "authorId": "AirStreetCapital",
  "authorName": "Air Street Capital",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "vc_research",
  "sourceTypeLabel": "VC research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.777,
  "pageNumber": 195,
  "pageCount": 313,
  "prevPage": 194,
  "nextPage": 196,
  "slideType": "case_study",
  "function": "illustrate_case",
  "density": "dense",
  "nDataPoints": 1,
  "notes": "Includes a direct quote/statement from NVIDIA regarding the legislation.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "callout_box",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5d-0d0f98caffe1/195",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5d-0d0f98caffe1",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5d-0d0f98caffe1.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5d-0d0f98caffe1#slide-195",
  "components": [
    {
      "bbox": {
        "h": 0.45,
        "w": 0.26,
        "x": 0.72,
        "y": 0.38
      },
      "kind": "callout",
      "text": "Statement from NVIDIA on the GAIN AI Act\nThe U.S. has always been and will continue to be our largest market. We never deprive American customers in order to serve the rest of the world. In trying to solve a problem that does not exist, the proposed bill would restrict competition worldwide in any industry that uses mainstream computing chips. While it may have good intentions, this bill is just another variation of the AI Diffusion Rule and would have similar effects on American leadership and the U.S. economy.\nSeptember 5, 2025",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b4794563-3e63-4182-a6b2-6698c39e7032",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "The U.S. has always been and will continue to be our largest market. We never deprive American customers in order to serve the rest of the world.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-47c2-727e-a405-625a4c184a4d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.68,
        "x": 0.02,
        "y": 0.3
      },
      "kind": "list",
      "text": "NVIDIA has long echoed the sentiment that demand for their GPUs outstrips supply. When dealing with these global constraints, Huang has claimed that NVIDIA “allocates fairly.” This stance has enabled the legal shipment of roughly 1.9M GPUs to China since 2023. Yet, defanged chips still compete with other SKUs for capacity across the value chain. Therefore, the sale to Chinese customers has either lengthened lead times for US clouds OR the supposed supply chain bottlenecks have been exaggerated by NVIDIA for many years.\nIn its first volley, NVIDIA also likened GAIN to the AI Diffusion Rule, which it claimed to be “based on doomer science fiction.” Yet, the former only applies to countries subjected to an American arms embargo or nations that the DNI* deems to be hosting (or intends to be hosting) a military or intelligence facility associated with an embargoed country. Despite certain subjectivities, the scope is clearly narrower than the Diffusion Rule, which applied to the entire world.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aaba91de-317b-43bd-b43e-dbb5a5a27997",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.68,
        "x": 0.02,
        "y": 0.21
      },
      "kind": "paragraph",
      "text": "The GAIN AI Act would require chipmakers to fulfill orders from US-based customers before selling advanced GPUs to “countries of concern” (e.g. China, Russia, NK). Unsurprisingly, NVIDIA is not happy.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "add0c18b-ab3f-4b2c-a62f-bebe8bf51c8f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "The U.S. has always been and will continue to be our largest market. We never deprive American customers in order to serve the rest of the world. — NVIDIA",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-47c2-727e-a405-66ff6a12e2f4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.02,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "*Director of National Intelligence (currently Tulsi Gabbard)",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fb182dbd-b83f-48a1-aea3-6a0d37a76676",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.18,
        "x": 0.02,
        "y": 0.14
      },
      "kind": "title",
      "text": "No Pain, No GAIN",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ab7c8023-a9d9-4625-b0f1-6903e6a0c761",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Problem-Agitate-Solve (PAS)",
      "slug": "problem-agitate-solve-pas",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "fed43ea5-f6d9-45ff-9d1c-153fb1035fa4",
      "evidence": "The GAIN AI Act would require chipmakers to fulfill orders from US-based customers before selling advanced GPUs to “countries of concern” (e.g. China, Russia, NK).",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 282,
      "from": 190,
      "beatId": "019dd95a-0682-776c-8e35-a256fe16ea9c",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Implications (So What)",
      "beatSlug": "triple-take-the-implications-so-what",
      "evidence": "Sections 3-4 frame political and safety consequences of the technical/industry trends.",
      "position": 2,
      "confidence": 70,
      "parentBeatName": "Reflection",
      "parentBeatSlug": "reflection"
    },
    {
      "to": 282,
      "from": 190,
      "beatId": "019dd95a-0682-776c-8e35-b713af60bf88",
      "arcName": "The Onion",
      "arcSlug": "onion",
      "beatName": "Core Insight",
      "beatSlug": "onion-core-insight",
      "evidence": "Politics and Safety reveal the structural risks at the core.",
      "position": 4,
      "confidence": 45,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [
    {
      "to": 218,
      "from": 191,
      "name": "Zoom In",
      "slug": "06-zoom-in",
      "bestFor": "Technical deep-dives, case studies, detailed analysis",
      "matchId": "019dd95a-07fe-70ce-8d3e-b6147e7c2c76",
      "evidence": "Trump 47 → Action Plan → chip-export zigzags → state laws → FTC actions → antitrust outcomes.",
      "position": 11,
      "objective": "Drill into US AI policy from Action Plan to enforcement",
      "structure": "The Big Picture -> Key Area of Focus -> Specific Detail -> Implication",
      "confidence": 70,
      "description": "Start broad, then progressively focus on specific details that prove your point"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}