Indian Equities Eye Big Gains as Tax Cuts Boost Sentiment
Good morning, this is Chiranjivi Chakraborty, an equities reporter in Mumbai. A rainy Monday morning in the city just got brighter. The mood is upbeat, with Nifty futures pointing to a strong start following Prime Minister Narendra Modi's plan to cut taxes on everyday goods, which could help soften the blow of potential US tariffs. Also, talks between Donald Trump and Vladimir Putin are giving investors a glimmer of hope for a Ukraine peace deal. Adding to the positive vibes, Chinese Foreign Minister Wang Yi begins a two-day visit to India, signaling a thaw in the frosty relations between the two neighbors.
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Engadget
14 minutes ago
- Engadget
NVIDIA is reportedly developing an AI chip for China more powerful than the H20
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CNBC
14 minutes ago
- CNBC
Nvidia says it's evaluating a 'variety of products' after report of new AI China chip
Nvidia said Tuesday that it is evaluating several products following a report that the company is working on a new artificial intelligence chip for China that is more powerful than the currently available H20. The new product, tentatively called the B30A, is expected to be based on Nvidia's Blackwell chip architecture, Reuters reported, citing people familiar with the company's plans. Nvidia hopes to deliver sample units to Chinese clients for testing as soon as next month, according to Reuters. "We evaluate a variety of products for our roadmap, so that we can be prepared to compete to the extent that governments allow," the company told CNBC in a statement. "Everything we offer is with the full approval of the applicable authorities and designed solely for beneficial commercial use." Commerce Secretary Howard Lutnick on Tuesday praised Nvidia CEO Jensen Huang and said he wouldn't be surprised if Huang wants to sell a new chip to China. "I'm sure he's pitching the president all the time," Lutnick said in an interview with CNBC's "Squawk on the Street." "I've listened to him pitch the president, and the president listens to our great technology companies, and he'll decide how he wants to play it." Earlier this month, Nvidia and rival Advanced Micro Devices agreed to give the U.S. government a 15% cut of their sales in China, in exchange for being able to resume selling chips in the region. The Trump administration halted the sale of advanced computer chips to China in April over national security concerns. Nvidia built its Chinese-specific H20 chip after the Biden administration implemented export controls on AI chips in 2023, while AMD developed the MI308 chip for the Chinese market. President Donald Trump said last week that he originally requested 20% cut of Nvidia's sales, but that Huang negotiated the number down to 15%. Trump suggested at the time that he would be open to Nvidia selling a significantly scaled-down version of its advanced Blackwell chip in China. "It's possible I'd make a deal" on a "somewhat enhanced — in a negative way — Blackwell" processor, Trump said. "In other words, take 30% to 50% off of it."
Newsweek
15 minutes ago
- Newsweek
China Releases Footage of Encounter with US Warship
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. China's state media has released footage it says shows the People's Liberation Army Navy challenging a U.S. warship near a contested South China Sea feature. On the morning of August 13, the USS Higgins conducted a so-called freedom-of-navigation operation (FONOP) near Scarborough Shoal, a flashpoint in China's dispute with U.S. treaty ally the Philippines. Beijing said its forces "expelled" the Arleigh Burke–class destroyer—a claim the U.S. Seventh Fleet dismissed as "false." Why It Matters Since 1979, the U.S. Navy has routinely sent ships and aircraft to challenge what Washington deems excessive maritime claims. Scarborough Shoal lies roughly 140 miles west of the main Philippine island of Luzon, well within the the country's maritime zone, and about 700 miles from China's Hainan Island. Beijing asserts sovereignty over the uninhabited atoll, as it does most of the South China Sea. Newsweek has reached out to the Chinese defense ministry and Philippine coast guard with a written request for commment. What To Know Media Unlocked, a social media brand operated by the state-run China Daily, released footage that appears to show the encounter. A Chinese ship, identifying itself as the Type 054A frigate Liuzhou (573), radioed that the USS Higgins had "illegally entered the territorial waters of Huangyan Island" (China's name for Scarborough Shoal) and ordered it to "alter your course and leave immediately." Media Unlocked said the Higgins remained in "territorial waters" for about 90 minutes before the PLA Navy "drove it out." "Same old U.S. playbook: provoke, then retreat," Media Unlocked wrote on X (formerly Twitter). Arleigh Burke-class guided-missile destroyer USS Higgins is seen in the Pacific Ocean on November 7, 2024. Arleigh Burke-class guided-missile destroyer USS Higgins is seen in the Pacific Ocean on November 7, 2024. Mass Communication Specialist 3rd Class Lucas J. Hastings/U.S. Navy The encounter took place two days after a Chinese navy destroyer and coast guard ship collided while attempting to drive away a smaller Philippine coast guard cutter near Scarborough Shoal. The bow of the Chinese coast guard vessel was severely damaged. The episode, considered highly embarrassing for Beijing, was the latest in a series of dramatic confrontations between China and the Philippines since 2023. Under international law, a territorial sea extends 12 nautical miles (about 13.8 miles) from coastlines and high-tide features such as Scarborough Shoal. In 2016, an international arbitral tribunal rejected China's sweeping South China Sea claims but did not rule on sovereignty over the shoal, though it recognized its importance as a traditional fishing ground for both Filipino and Chinese fishing vessels. What People Are Saying Commander Matthew Comer, Indo-Pacific Command spokesperson, told Newsweek: "China's statement about this mission is false. USS Higgins (DDG 76) conducted this FONOP in accordance with international law and then continued on to conduct normal operations. "The United States is defending its right to fly, sail and operate wherever international law allows, as USS Higgins did here. Nothing China says otherwise will deter us." Liu Pengyu, spokesperson for the Chinese embassy in Washington, D.C., previously told Newsweek that China firmly opposes "willful trespassing" and "any country conducting unlawful provocations in the name of 'freedom of navigation' to harm the sovereignty and security of coastal countries and undermine regional peace and stability." What's Next China is expected continue patrols and other activities within the Philippines' exclusive economic zone. Philippine President Ferdinand Marcos Jr. has vowed not to yield "one square inch" of Manila-claimed waters.
