Bessent reported a positive meeting with China, establishing "USA-China AI Dialogues" with follow-up meetings scheduled in two months and new protocols regarding cyber and AI safety. Successful upcoming talks between China, Xi, and Trump could ease market concerns regarding AI safety and its potential impact on the broader semiconductor trade. The author notes potential positive sentiment for $MU, $NVDA, $AMD, $AVGO, $NBIS, $CRWV, $IREN, and $SNDK if these talks go well this week.