Trump Trade: Nvidia may get nod to sell more advanced AI chip in China
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REIN ON BIG TECH: While President Trump's use of tariffs against Brazil has not released his political ally Jair Bolsonaro from house arrest, the levies do appear to have more success for America's largest tech companies as they seek to influence the rules governing them, Ana Ionova of The New York Times reports. Brazil's lead negotiator, Vice President Geraldo Alckmin, has indicated the country is willing to discuss the matter of Big Tech 'to overcome' the problem of the 50% U.S. levies. Brazil's efforts against online falsehoods have led the country to be at odds with digital platforms, which argue efforts by the country infringe on free speech. Publicly traded companies in the space include Meta Platforms (META), Google (GOOGL), Microsoft (MSFT), Amazon (AMZN), and Apple (AAPL).
NEW DEAL: Donald Trump may allow Nvidia (NVDA) to sell a more advanced AI chip in China, Michael Acton, Demetri Sevastopulo, Tim Bradshaw, and Myles McCormick of The Financial Times report. Recently, Nvidia CEO Jensen Huang and President Trump entered a deal that involves the U.S. taking 15% of the Chinese sales of H20 chips. Now, Trump plans to discuss a new deal that would allow Nvidia to sell chips to China based on its latest Blackwell platform, with modification.
Meanwhile, Beijing has told local companies to not use Nvidia's H20 processors, especially for government-related purposes, Mackenzie Hawkins and Ian King of Bloomberg report, citing people familiar with the matter. Chinese authorities have sent notices discouraging the use of the semiconductors, but have not outright banned the use of H20 chips, the sources added.
MEETING WITH TRUMP: Intel (INTC) made a statement after CEO Lip-Bu Tan met with President Trump on Monday, saying, 'Mr. Tan had the honor of meeting with President Trump for a candid and constructive discussion on Intel's commitment to strengthening U.S. technology and manufacturing leadership. We appreciate the President's strong leadership to advance these critical priorities and look forward to working closely with him and his Administration as we restore this great American company.'
President Donald Trump said in a Truth Social post, 'I met with Mr. Lip-Bu Tan, of Intel, along with Secretary of Commerce, Howard Lutnick, and Secretary of the Treasury, Scott Bessent. The meeting was a very interesting one. His success and rise is an amazing story. Mr. Tan and my Cabinet members are going to spend time together, and bring suggestions to me during the next week. Thank you for your attention to this matter!'
MAJOR LAWSUIT: President Trump said via Truth Social, 'Jerome 'Too Late' Powell must NOW lower the rate. Steve 'Manouychin' really gave me a 'beauty' when he pushed this loser. The damage he has done by always being Too Late is incalculable. Fortunately, the economy is sooo good that we've blown through Powell and the complacent Board. I am, though, considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings. Three Billion Dollars for a job that should have been a $50 Million Dollar fix up. Not good!'
BLS COMMISSIONER: In a post on Truth Social, President Donald Trump said, 'I am pleased to announce that I am nominating Highly Respected Economist, Dr. E.J. Antoni, as the next Commissioner of the Bureau of Labor Statistics. Our Economy is booming, and E.J. will ensure that the Numbers released are HONEST and ACCURATE. I know E.J. Antoni will do an incredible job in this new role. Congratulations E.J.!'
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