Federal authorities arrested four men for shipping contraband Nvidia chips, which are critical components for artificial intelligence companies. The men allegedly created an elaborate smuggling network that saw the chips shipped from Alabama through Malaysia and Thailand, and eventually to recipients in China, the Department of Justice announced on Thursday. The accused men failed to…
Federal prosecutors have charged four people with illegally smuggling Nvidia GPUs and HP supercomputers with Nvidia GPUs from the US to China, according to a court filing spotted by Court Watch. The US government has placed restrictions that prevent Nvidia from selling its most powerful chips for AI training to China, but Chinese companies like…
BEIJING, Nov 20 (Reuters) – Chinese Commerce Minister Wang Wentao urged efforts to “manage uncertainties” in trade relations with the United States in a meeting with U.S. ambassador to China David Perdue in Beijing on Thursday, the Chinese ministry said. Wang said the two countries should foster the “correct understanding” that they must coexist and…
Dutch government suspends intervention at Nexperia Move follows talks with Chinese government Dutch Economy Minister cites goodwill gesture Talks between Netherlands and China to continue Nexperia chip shortages hit auto supply chains, production AMSTERDAM, Nov 19 (Reuters) – The Dutch government said on Wednesday it was suspending its intervention at computer chipmaker Nexperia after what…
ORLANDO, Florida, Nov 18 (Reuters) – Warnings about Wall Street’s excessive optimism, concentration risk, and frothy valuations have fallen on deaf ears for most of this year, leaving market-watchers wondering what, if anything, will cool the tech and artificial intelligence frenzy. It turns out that it could end up being a plain old-fashioned shift in…
U.S. futures trade either side of flat JGBs under pressure ahead of 20-year auction Nvidia earnings due after market close SINGAPORE, Nov 19 (Reuters) – Asian markets struggled to make headway on Wednesday as a bout of nerves over AI valuations held back investors ahead of an earnings update from chip titan Nvidia (NVDA.O), opens…
ORLANDO, Florida, Nov 18 (Reuters) – The tech-induced selloff across global stocks accelerated on Tuesday and soft U.S. labor market indicators also weighed on Wall Street, while fiscal worries in Japan helped drag Japanese stocks, bonds and the yen lower. More on that below. In my column today I look at what helped trigger this…
Nvidia’s quarterly report on Wednesday seen as pivotal for AI trade September jobs release on Thursday first key post-shutdown data S&P 500 breaks below 50-day moving average, VIX hits one-month high NEW YORK, Nov 18 (Reuters) – The biggest U.S. stocks pullback in months is fraying investors’ nerves ahead of tests to two underpinnings of…
Another year nearly gone as we head into the tail end of November. Everybody’s attention has turned toward that annual holiday, the most American of holidays, when people gorge and stuff themselves. Yes, it’s time for Black Friday, and that secondary holiday, Thanksgiving, that always horns in on its vibe the day prior. But Google’s…
Stocks fall as investors await U.S. economic data Japan’s PM Takaichi to meet BOJ governor as markets speculate on rates Fed rate-cut expectations decrease despite U.S. economic weakness SYDNEY, Nov 18 (Reuters) – Asian stocks slid in early trade on Tuesday, as financial markets waited on a rush of key U.S economic data delayed by…