Drop in US, Asia and Europe follows warning from bank bosses that market correction could lie ahead
Global stock markets have fallen sharply amid concerns that a boom in valuations of artificial intelligence (AI) companies could be rapidly cooling.
Markets in the US, Asia and Europe have fallen after bank bosses warned a serious stock market correction could lie ahead, after a run of record stock market highs led some companies to appear overvalued.
Continue reading...Experts warn of destabilized trading relations after White House strikes deal with Nvidia to take a 15% cut of certain AI chip sales to Chinese companies
Apple CEO Tim Cook visited the White House bearing an unusual gift. “This box was made in California,” Cook reassured his audience in the Oval Office this month, as he took off the lid.
Inside was a glass plaque, engraved for its recipient, and a slab for the plaque to sit on. “The base was made in Utah, and is 24-karat gold,” said Cook.
Continue reading...Chipmakers agree to deal amid Trump trade war as condition for obtaining export licences for Chinese market
The chipmakers Nvidia and AMD have agreed to give the US government 15% of their revenue from advanced chips sold to China in return for export licences to the key market, in an unprecedented move amid Donald Trump’s trade war with China.
The move, an apparent reversal of US national security restrictions on the chip sales, signalled an easing in the US-China trade war.
Continue reading...Chipmaker’s CEO, Jensen Huang, recently met with Donald Trump as US-China trade rivalry deepens
Nvidia’s CEO, Jensen Huang, says the chipmaker has won approval from the Trump administration to sell its advanced computer chips used to develop artificial intelligence to China.
“Today, I’m announcing that the US government has approved for us filing licenses to start shipping H20s,” Huang told reporters in Beijing.
Continue reading...Ongoing surge in demand for AI technology fueled stratospheric rise of chipmaker’s value
Chipmaker Nvidia became the first public company in history to scale a $4tn market value on Wednesday as its stock price continues a years-long stratospheric rise.
Shares of the top chip designer rose roughly 2.4% to $164, benefiting from the ongoing surge in demand for artificial intelligence technologies. Nvidia’s chips and associated software are considered world leaders for building artificial intelligence products.
Continue reading...Comments from Jensen Huang come as Beijing accuses the US of ‘bullying and protectionism’
US chip exports controls have been a “failure”, the head of Nvidia, Jensen Huang, told a tech forum on Wednesday, as the Chinese government separately slammed US warnings to other countries against using Chinese tech.
Successive US administrations have imposed restrictions on the sale of hi-tech AI chips to China, in an effort to curb China’s military advancement and protect US dominance of the AI industry. But Huang told the Computex tech forum in Taipei that the controls had instead spurred on Chinese developers.
Continue reading...Jensen Huang causes stir on social media and is reported to have met founder of AI company DeepSeek
The chief executive of the American chip maker Nvidia visited Beijing on Thursday, days after the US issued fresh restrictions on sales of the only AI chip it was still allowed to sell to China.
Jensen Huang’s surprise visit was on the invitation of a trade organisation, according to a social media account affiliated with state media.
Continue reading...Investors were eyeing the firm for signs of slowing demand after revelation high-end chips not necessary, but found few
Nvidia surpassed investor expectations for the fourth quarter of 2024 with a 78% jump in revenue year over year.
The company reported $39.3bn in revenue, beating analyst projections of $38.25bn. It also reported $0.89 in earnings a share on Wednesday, beating expectations of $0.84.
Continue reading...Even as shares fall about 9%, chief financial officer says firm is seeing ‘more investment’ in AI than ‘even 90 days ago’
Chip designer Arm Holdings on Wednesday reported a stronger-than-expected 39% surge in quarterly revenue, and forecast fiscal second-quarter sales broadly in line with Wall Street estimates, yet its shares fell about 9% in extended trading.
For the current fiscal second quarter, Arm forecast revenue in a range between $780m and $830m, compared with an average analyst estimate of $804.1m, according to LSEG data.
Continue reading...Deal for undisclosed sum secures Bristol-based company’s future after ‘material uncertainty’ in 2023
Graphcore, a British chipmaker once seen as a potential competitor to Nvidia, has been bought by Japan’s SoftBank in a deal that secures the company’s future.
The Bristol-based startup’s products are focused on artificial intelligence and it has been acquired by the powerful Japanese tech investor for an undisclosed sum. Last year, Graphcore warned that there was a “material uncertainty” over its survival and that it needed fresh funding by May 2024.
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