We should all be living our best RV lives

This is Bloomberg Opinion Today, a feline wake-up call for Bloomberg Opinion’s opinions. Sign up here. Get your (RV) kicks on Route 66. The [Bloomberg]( This is Bloomberg Opinion Today, a feline wake-up call for Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - [Get your (RV) kicks]( on Route 66. - The first [$1 trillion chip company]( is imminent. - [The benefits of AI may]( not be evenly distributed. - This bond market is becoming [impossible to read](. The Highway to Heaven This is the scene at Gilbert Towers today as I prepare for my road trip for this coming three-day weekend: I’m stowing my Bugatti RZ in the belly of my Volkner Performance S motorhome: Source: Volkner Mobil GmbH Ha ha, no it isn’t. I wouldn’t choose either as my ride. First, everyone knows that sportscars should be red, [yellow](, eyeball-torturing orange or racing green. Second, chocolate brown? On a recreational vehicle that can cost as much as €3 million ($3.2 million)? Really?? Some 12 million Americans will hit the highways this Memorial Day weekend in their RVs, notes Chris Bryant. A surge of pandemic-driven demand — with consumers willing to pay more than recommended retail prices to gain the freedom of the open road — has emptied out dealer lots. The average price of a Winnebago, for example, has doubled since 2019 to almost $200,000. But with RV shipments to dealers declining 52% in the first four months of this year, according to the RV Industry Association, [the bubble is bursting](, Chris writes. “A sales pullback was inevitable in this cyclical industry — many people who wanted an RV now have one — yet the level of retail buyer caution appears to have caught the industry by surprise,” Chris writes. “If the industry’s production discipline continues, very limited inventories may prevent prices falling as much as RV fans might hope.” Not as Cheap as Chips Nvidia Corp. is on the verge of joining the elite gang of companies with trillion-dollar market capitalizations, after saying it expects to garner revenue of as much as $11 billion in the coming quarter. That’s 52% above the $7.2 billion that analysts had been estimating for the chipmaker. “It’s hard to imagine that any company [has ever administered a surprise on such a scale](,” notes John Authers. Nvidia’s surge is “thanks almost entirely to the frenzy around artificial intelligence,” John writes. “Hype around AI — loosely defined as problem-solving using computers and big datasets — has rocketed since the launch of OpenAI Inc.’s ChatGPT last year sparked a race to capitalize on the phenomenon.” One reason Nvidia is leading the AI chipmaking pack is its superior ability to reverse-engineer circuit patterns using a technique called inverse lithography, notes Tim Culpan. The company reckons it can make the process 40 times faster. “While we all marvel at the ability of ChatGPT software to write software, we’ll see the increasing role of [AI chips in creating AI chips](,” Tim says. But which element of society will benefit from the coming AI-inspired productivity improvements? Will it be workers or owners? Will labor reap the rewards, or [will capital continue to skim off the gains](? Nir Kaissar is concerned everyone won’t share in AI’s bounty. “Productivity and compensation for ordinary workers grew in near lockstep from the end of World War II through the 1970s,” he writes. “Since then, however, productivity has grown nearly four times faster than pay for ordinary workers, the difference going to shareholders and the most highly paid workers.” “AI may very well usher in the next productivity boom,” Nir says. “But if it isn’t shared more broadly than the technology-charged gains of the past four decades, economic inequality — with all its attendant harms — will deepen.” Telltale Charts Inflation in the UK has been even worse than the global average for several months. The Bank of England’s efforts to tame rising consumer prices have contributed to a surge in government bond yields that’s making the gilt market [almost impossible to read](, argues Marcus Ashworth. “Repeated market lurches as fund managers race to re-hedge their interest-rate risk are damaging the health of the UK bond market.” Further Reading Turkish President [Recep Tayyip Erdogan won’t change](, and neither should Joseph Biden. — Bobby Ghosh Wagamama can’t dismiss those [bad hedge-fund reviews](. — Matthew Brooker The US government is right to [reach out to China](. — Bloomberg’s editorial board Banking is slowly [getting narrower](, and is better for it. — Tyler Cowen When food delivery costs [more than the meal you ordered](. — Leticia Miranda Should Ukraine [take the war into Russia](? — Andreas Kluth For Your Listening Pleasure Jonathan Bernstein on [Republican disinterest in appealing to America’s urban regions](, and Leticia Miranda on ghost kitchens. — Bloomberg Opinion podcast, hosted by Amy Morris. ICYMI Neuralink Corp., Elon Musk’s brain-implant company, said it won approval from the US Food and Drug Administration [to start conducting human clinical trials](. [Europe’s economic engine]( is beginning to break down. Swiss Finance Minister Karin Keller-Sutter called [the managers of Credit Suisse “arsonists.”]( [The City of London has lost its way]( on the path to racial equality. Kickers UK Prime Minister Rishi Sunak chillaxes by reading [erotic novels penned by Jilly Cooper](. Allegedly. Dairy Queen is [allegedly scrapping its cherry-dipped cone](, leaving customers distraught. Allegedly. Inside Sergey Brin’s [secret $250 million airship](. The “wood-wide web” narrative about how forest fungal networks communicate [may not be entirely accurate](. Notes:  Please send cherry-dipped cones and feedback to Mark Gilbert at magilbert@bloomberg.net. [Sign up here]( and follow us on [Instagram](, [TikTok](, [Twitter]( and [Facebook](. Follow Us Like getting this newsletter? 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