US consumer sentiment improves in June
oil prices
.
The
University of Michigan Surveys of Consumers
on Friday said its Consumer Sentiment Index jumped to 60.5 this month from a final reading of 52.2 in May. Economists polled by Reuters had forecast the index rising to 53.5.
"Consumers appear to have settled somewhat from the shock of the extremely high tariffs announced in April and the policy volatility seen in the weeks that followed," said Surveys of Consumers Director Joanne Hsu. "However, consumers still perceive wide-ranging downside risks to the economy."
Consumers' 12-month
inflation expectations
fell to 5.1% from 6.6% in May. Long-run inflation expectations dipped to 4.1% from 4.2% last month.
Oil prices surged more than $5 per barrel on Friday to multi-year highs as the Israeli strikes on Iranian nuclear facilities stoked fears of retaliation and disruption of crude supplies from Middle East.
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First Post
an hour ago
- First Post
US export concerns no bar, Nvidia developing new, advanced AI chip for China
The new processor, tentatively named the B30A, is based on Nvidia's latest Blackwell architecture and will feature a single-die design The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu/File Photo Nvidia is working on a new artificial intelligence chip for China that will be more powerful than its current H20 model, as the company seeks to maintain its foothold in a key market despite tightening US restrictions. The new processor, tentatively named the B30A, is based on Nvidia's latest Blackwell architecture and will feature a single-die design. According to two people briefed on the plans, it is expected to deliver roughly half the raw computing power of the company's flagship B300 accelerator card, which uses a more advanced dual-die configuration. STORY CONTINUES BELOW THIS AD Reuters reported that while the chip's specifications are not finalised, Nvidia hopes to provide Chinese clients with testing samples as early as next month. The B30A would come with high-bandwidth memory and Nvidia's NVLink technology for faster data transfer between processors, features also included in the H20, which is built on the company's older Hopper architecture. Nvidia said in a statement: 'We evaluate a variety of products for our roadmap, so that we can be prepared to compete to the extent that governments allow. Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use.' Political flashpoint The US has restricted the sale of advanced AI chips to China since 2023, citing national security concerns. Washington fears such technology could be used to advance Beijing's military and surveillance capabilities. China accounted for 13 per cent of Nvidia's revenue last year, making access to the market a key concern for the company as well as for US regulators. Earlier this year, the Biden administration had blocked sales of the H20, only to grant approval again in July. Donald Trump, who has since taken office, has suggested he may allow Nvidia to sell scaled-down versions of its most advanced chips to Chinese customers. He described the H20 as 'obsolete' and indicated that any new model might have '30 per cent to 50 per cent off' its computing power. Nvidia argues that keeping Chinese firms tied to its products is vital, warning that otherwise they could fully switch to domestic alternatives, particularly those from Huawei. While Huawei has made significant advances in chip design, analysts say it still trails Nvidia in crucial areas such as software ecosystem support and memory bandwidth. Reuters reported that Nvidia also faces growing challenges in China, where state media has recently raised concerns about security risks linked to its chips, and authorities have warned tech companies against buying the H20. STORY CONTINUES BELOW THIS AD Separate China-specific chip In addition to the B30A, Nvidia is preparing to deliver another China-specific product based on the Blackwell architecture. Known as the RTX6000D, the chip is designed primarily for AI inference tasks and is expected to be sold at a lower price than the H20. By using conventional GDDR memory and limiting its memory bandwidth to just below US export thresholds, Nvidia aims to ensure compliance with restrictions. Small batches of the RTX6000D are due to reach Chinese clients in September. With inputs from agencies
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Business Standard
an hour ago
- Business Standard
Nvidia working on new AI chip for China that outperforms the H20
Nvidia is developing a new AI chip for China based on its latest Blackwell architecture that will be more powerful than the H20 model it is currently allowed to sell there, two people briefed on the matter said. U.S. President Donald Trump last week opened the door to the possibility of more advanced Nvidia chips being sold in China. But the sources noted U.S. regulatory approval is far from guaranteed amid deep-seated fears in Washington about giving China too much access to U.S. artificial intelligence technology. The new chip, tentatively known as the B30A, will use a single-die design that is likely to deliver half the raw computing power of the more sophisticated dual-die configuration in Nvidia's flagship B300 accelerator card, the sources said. A single-die design is when all the main parts of an integrated circuit are made on one continuous piece of silicon rather than split across multiple dies. The new chip would have high-bandwidth memory and Nvidia's NVLink technology for fast data transmission between processors, features that are also in the H20 - a chip based on the company's older Hopper architecture. The chip's specifications are not completely finalised but Nvidia hopes to deliver samples to Chinese clients for testing as early as next month, said the sources who were not authorised to speak to media and declined to be identified. Nvidia said in a statement: "We evaluate a variety of products for our roadmap, so that we can be prepared to compete to the extent that governments allow." "Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use," it said. The U.S. Department of Commerce did not respond to a Reuters request for comment. FLASHPOINT The extent to which China, which generated 13% of Nvidia's revenue in the past financial year, can have access to cutting-edge AI chips is one of the biggest flashpoints in U.S.-Sino trade tensions. Nvidia only received permission in July to recommence sales of the H20. It was developed specifically for China after export restrictions were put in place in 2023, but company was abruptly ordered to stop sales in April. Trump said last week he might allow Nvidia to sell a scaled-down version of its next-generation chip in China after announcing an unprecedented deal that will see Nvidia and rival AMD give the U.S. government 15% of revenue from sales of some advanced chips in China. A new Nvidia chip for China might have "30% to 50% off", he suggested in an apparent reference to the chip's computing power, adding that the H20 was "obsolete". U.S. legislators, both Democratic and Republican, have worried that access to even scaled-down versions of flagship AI chips will impede U.S. efforts to maintain its lead in artificial intelligence. But Nvidia and others argue that it is important to retain Chinese interest in its chips - which work with Nvidia's software tools - so that developers do not completely switch over to offerings from rivals like Huawei. Huawei has made great strides in chip development, with its latest models said to be on par with Nvidia in some aspects like computing power, though analysts say it lags in key areas such as software ecosystem support and memory bandwidth capabilities. Complicating Nvidia's efforts to retain market share in China, Chinese state media have also in recent weeks alleged that the U.S firm's chips could pose security risks, and authorities have cautioned Chinese tech firms about purchasing the H20. Nvidia says its chips carry no backdoor risks. Nvidia is also preparing to start delivering a separate new China-specific chip based on its Blackwell architecture and designed primarily for AI inference tasks, according to two other people familiar with those plans. Reuters reported in May that this chip, currently dubbed the RTX6000D, will sell for less than the H20, reflecting weaker specifications and simpler manufacturing requirements. The chip is designed to fall under thresholds set by the U.S. government. It uses conventional GDDR memory and features memory bandwidth of 1,398 gigabytes per second, just below the 1.4 terabyte threshold established by restrictions introduced in April that led to the initial H20 ban. Nvidia is set to deliver small batches of RTX6000D to Chinese clients in September, said one of the people.
The Print
an hour ago
- The Print
Japan's defence minister discusses military cooperation, drones on Turkey visit
Ahead of the visit, a diplomatic source in Ankara said the two countries' defence ministers would 'discuss ways to expand cooperation on defence equipment and technology and exchange views on regional developments'. They also aim to increase contacts between the Turkish Armed Forces and Japan's Self-Defense Forces at unit level, the source said. Gen Nakatani is the first Japanese defence minister to make an official trip to Turkey, a NATO member country that is keen to expand economic and other ties beyond Europe and the Middle East. Turkey and Japan are both U.S. allies. ANKARA (Reuters) -Japan's defence minister discussed defence industry cooperation and possible purchases of Turkish-made drones during a visit to Ankara on Tuesday, as Tokyo expands the role of unmanned systems in its armed forces. Nakatani will also visit Istanbul on Wednesday and tour defence companies and facilities, including Turkish Aerospace Industries (TUSAS), navy shipyards and drone-maker Baykar, a Turkish Defence Ministry official said. 'Defence industry cooperation will be on the agenda…' the official said. 'They will hold inspections regarding drones, but an agreement is not expected. It is too early for an agreement.' Turkey-backed firms have supplied drones to several countries, including Ukraine, while Japan is preparing to expand the use of unmanned aerial vehicles across its ground, air and naval forces. Japan is considering Turkish drones among potential options as part of this effort, the diplomatic source said. Defence Minister Yasar Guler said after his meeting with Nakatani that Turkey wanted to increase defence industry and military cooperation with Japan, his office said in a readout. Turkey and Japan have both condemned Russia's 2022 invasion of Ukraine, though Ankara has maintained cordial relations with Moscow and has not joined Western economic sanctions against it. Nakatani's visit to Turkey is part of a regional tour from August 17–22 that also includes stops in Djibouti and Jordan. (Reporting by Ece Toksabay and Tuvan Gumrukcu in Ankara, Timothy Kelly in TokyoEditing by Gareth Jones) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.
