CNBC Daily Open: He who controls the rare earth metals, controls tech's future

In the 1984 subject fabrication movie Dune, Baron Vladimir Harkonnen uttered the celebrated punctuation that tin aptly beryllium utilized to picture uncommon world metals: "He who controls the spice, controls the universe."

The spice was cardinal to the Dune universe, allowing commercialized to flourish and planets to prosper. In the aforesaid way, uncommon world metals look to beryllium the spice today.

These metals are utilized successful astir each physics device, from smartphones and cars, to ballistic missiles. 

In a sweeping determination Thursday, China has tightened export rules connected these captious materials, asserting dominance implicit the planetary tech proviso chain.

The caller measures mean companies request to use for a licence from Beijing to export immoderate products containing Chinese-sourced uncommon world metals, portion companies tied to overseas militaries oregon placed connected export-control oregon ticker lists volition beryllium denied permits.

China accounts for astir 70% of the planetary supply and has repeatedly utilized captious minerals arsenic a bargaining spot successful commercialized discussions.

With a imaginable Trump-Xi gathering successful South Korea soon, Beijing whitethorn beryllium signalling its leverage up of high-stakes talks by tightening power implicit uncommon world exports, and sending a connection to the satellite that successful the contention for tech supremacy, it holds the precocious ground.

— CNBC's Anniek Bao contributed to this report.

China tightens uncommon world exports... China has tightened export controls connected uncommon earths and related technologies portion barring its citizens from participating successful unauthorized mining overseas. The latest restrictions came conscionable weeks earlier a imaginable gathering betwixt U.S. President Donald Trump and his Chinese counterpart Xi Jinping. 

... sending uncommon world stocks surging. U.S. uncommon world and captious mineral miners surged Thursday aft China tightened restrictions connected exports, fueling marketplace speculation that the Trump medication volition determination much aggressively to put successful gathering retired a home proviso chain.

Ferrari hits the brakes. Shares of Ferrari posted their worst trading time ever Thursday aft the luxury carmaker's full-year and 2030 guidance fell abbreviated of expectations, and it scaled backmost its electrification ambitions.

S&P 500 and Nasdaq retreat. Both indexes took a breather from their each clip highs Thursday stateside, dipping 0.28% and 0.08%, respectively. Investors were eyeing the latest developments of the authorities shutdown, which entered its ninth time Thursday. Over successful Europe, the pan-European Stoxx 600 ended Thursday down 0.43%.

[PRO] Hedging a golden pullback. Gold's presumption arsenic a portfolio diversifier has travel into sharper absorption this week arsenic the precious metallic broke done the landmark $4,000 level. But could investors spot a pullback, and however should they navigate this if it happens?

Ex-Google CEO Eric Schmidt warns AI models tin beryllium hacked: 'They larn however to termination someone'

Google's erstwhile CEO Eric Schmidt has issued a stark reminder astir the dangers of AI and however susceptible it is to being hacked.

Schmidt, who served arsenic Google's main enforcement from 2001 to 2011, warned astir "the atrocious worldly that AI tin do," erstwhile asked whether AI is much destructive than atomic weapons during a fireside chat astatine the Sifted Summit.

"There's grounds that you tin instrumentality models, closed oregon open, and you tin hack them to region their guardrails. So successful the people of their training, they larn a batch of things. A atrocious illustration would beryllium they larn however to termination someone," Schmidt said.

— Sawdah Bhaimiya