July 18 – Tesla (NASDAQ:TSLA) shares surged on Friday as investors assessed new trade restrictions targeting a critical electric vehicle battery input. The stock rose 3%, extending gains for the week. The S&P 500 and Dow Jones Industrial Average futures were little changed. The U.S. Commerce Department on Thursday imposed a 93.5% anti-dumping duty on…
Tariffs imposed by the US have made exporting to the country “impossible” for Chinese electric vehicle (EV) manufacturers, an executive at major producer Xpeng has said during his visit to Hong Kong. But Yeqing Zheng said on Thursday that the Guangzhou-based Xpeng’s enhanced efforts to tap into other markets, which involved establishing assembly operations outside…
Nvidia (NVDA) stock fell as much as 5.8% early Monday after a report from Reuters said Chinese tech giant Huawei is set to begin shipping advanced AI chips as soon as next month, after Trump’s new export rules effectively banned the company from selling its H20 chips in China. NasdaqGS – Nasdaq Real Time Price…
Nvidia (NVDA) CEO Jensen Huang reportedly met with Chinese officials in Beijing after the chipmaker disclosed a $5.5 billion loss due to new US chip trade restrictions on exports to China, which sent the stock tumbling on Wednesday. Moor Insights & Strategy founder, CEO, and chief analyst Patrick Moorhead joins Morning Brief with Madison Mills…
U.S. Secretary of Commerce Howard Lutnick (pictured) said that the U.S. “will not allow adversaries to exploit American technology to bolster their own militaries and threaten American lives.” Image: World Economic Forum/Flickr/Creative Commons The U.S. has blacklisted approximately 80 foreign entities, citing heightened national security concerns. The majority are Chinese companies suspected of procuring American…
Beijing-based Naura was ranked sixth among global chipmaking equipment suppliers by revenue last year, up from eighth place in 2023 when it cracked the industry’s top-10 leaderboard for the first time, according to a report last week by Chinese semiconductor research firm CINNO. The state-backed company, which is expected to post about a 40 per…
Malaysia’s semiconductor industry stands to benefit from the escalating US-China tech war, as trade restrictions steer more companies to consider the Southeast Asian country as a viable alternative in the global chip supply chain, according to experts. As the US government continues to tighten trade restrictions on China, Malaysia is seeing more opportunities to develop…
(Bloomberg) — Most Read from Bloomberg President Donald Trump’s renewed pledges to slap 25% tariffs on imports from Canada and Mexico on Feb. 1 jolted foreign exchange markets late in the New York trading session, sending currencies from both countries plunging against the US dollar. The Mexican peso slid 1.1% and Canada’s dollar fell as…
Chinese start-up Zhipu AI said it “strongly disagrees” with a US decision to add the company and its subsidiaries to an export blacklist, as the administration of President Joe Biden released a flurry of trade restrictions just days before he leaves office. The US Department of Commerce on Wednesday added 25 China-based companies and two…
An Nvidia building – Photo: Qilai Shen/Bloomberg (Getty Images) Despite mounting trade restrictions, Nvidia (NVDA) is significantly expanding its presence in China, focusing on artificial intelligence chips for autonomous vehicles, Bloomberg reports. Both a Chinese government antitrust investigation and escalating trade tensions between Beijing and Washington complicate the semiconductor giant’s efforts. According to Bloomberg, Nvidia…