Nvidia shares drop, China tech surges as Beijing tries to push homegrown AI chips

Nvidia shares drop, China tech surges as Beijing tries to push homegrown AI chips

The world’s most valuable company may now be facing another China headache, just days after Beijing deemed the chipmaker to have violated the country’s antitrust legislation. China’s top internet regulator, the Cyberspace Administration of China, has asked the country’s leading tech firms, like Bytedance and Baidu, to stop testing Nvidia’s RTX Pro 6000D, reports the…

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Nvidia’s China-based rival posts 4,300% revenue jump as chipmakers’ earnings reported no H20 chip sales to the country

Nvidia’s China-based rival posts 4,300% revenue jump as chipmakers’ earnings reported no H20 chip sales to the country

Cambricon, a China-based semiconductor firm, posted record profit in the first half of the year, along with revenue that surged roughly 4,300%. The earnings, released late Tuesday, serve as an example of Nvidia’s growing local competition in China, as the government and market seek alternative chipmakers to gain traction in the region. Nvidia’s business in…

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Powell 'holds the key' to the next Fed rate move as divided policymakers will likely fail to reach a consensus again, JPMorgan says

Powell ‘holds the key’ to the next Fed rate move as divided policymakers will likely fail to reach a consensus again, JPMorgan says

A consensus view on Wall Street for a rate cut next month doesn’t mean there will be a consensus on the Federal Reserve as policymakers still appear divided. In his Jackson Hole speech on Friday, Chairman Jerome Powell opened the door to a rate cut at the central bank’s meeting in September after months of…

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