Nvidia, AMD agree to pay US 15% of China chip sale revenue
Nvidia plans to share 15 per cent of the revenue from sales of its H20 chip in China and AMD will deliver the same share from MI308 revenues, added the source, who asked for anonymity to discuss internal deliberations. The Financial Times earlier reported the development.
It followed a separate report from the Financial Times that the US Commerce Department started issuing H20 licenses on Friday, two days after Nvidia chief executive officer Jensen Huang met US President Donald Trump.
The Trump administration had frozen the sale of some advanced chips to China earlier this year as trade tensions spiked between the world's two largest economies.
An Nvidia spokesperson said that the company follows US export rules, adding that while it has not shipped H20 chips to China for months, it hopes the rules will allow US companies to compete in China. AMD did not immediately respond to a request for comment.
Separately, Intel chief executive officer Tan Lip-Bu is expected to visit the White House on Monday after Trump called for his dismissal last week over his ties to Chinese businesses, The Wall Street Journal reported Sunday. BLOOMBERG
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Straits Times
an hour ago
- Straits Times
Trump backing Putin's Ukraine land plan: Source, reports
Sign up now: Get ST's newsletters delivered to your inbox President Donald Trump reaches for a handshake with Russian President Vladimir Putin in Anchorage, Alaska, on Aug 15. WARSAW - US President Donald Trump backs a Russian proposal for Moscow to take full control of two Ukrainian regions and freeze the front line in two others which Moscow only partially controls, a source told AFP. The source with knowledge of the matter said Russian President Vladimir Putin 'de facto demands that Ukraine leave Donbas', an area consisting of the Donetsk and Luhansk regions in eastern Ukraine. 'Trump is inclined to support it,' the source said. Mr Trump on Aug 17 spoke to Ukrainian President Volodymyr Zelensky and European leaders about his talks on Aug 15 with Russian President Vladimir Putin. 'The Ukrainian president refused to leave Donbas,' the source said. Mr Zelensky has rejected any territorial concessions, saying he is bound by Ukraine's constitution. But he has not ruled out discussing the issue at a trilateral meeting with Mr Trump and Mr Putin. The New York Times also cited two senior European officials saying Mr Trump supported Mr Putin's plan 'to end the war in Ukraine by ceding unconquered territory to the Russian invaders, rather than try for a ceasefire'. Top stories Swipe. Select. Stay informed. Singapore Over 280 vapes seized, more than 640 people checked by police, HSA in anti-vape raids at nightspots Singapore SPLRT disruption: 28km of cables to be tested during off-service hours; works to end by Aug 23 Singapore First-half GDP boost likely temporary; Republic must stay relevant amid challenges: Chan Chun Sing Life Six-figure sales each durian season: Why S'pore durian sellers are now live selling on TikTok Singapore Airport-bound public bus to be fitted with luggage rack in 3-month trial: LTA Asia Australian universities slash staff, courses as rising wages and foreign student curbs bite Life Meet the tutors who take O-level exams every year to create a 'war mate' bond with their students Life Pivot or perish: How Singapore restaurants are giving diners what they want The Financial Times reported that Mr Putin had told Mr Trump that 'he could freeze the rest of the front line if his core demands were met' and the message had been relayed directly by Mr Trump in his call on Aug 16. AFP's source said US officials had said that if Russia's demands were met then 'Putin would not continue the offensive in the Kherson and Zaporizhzhia regions so there would be a kind of freeze there. 'But de facto it all will depend on Putin's word of honour,' the source said. Several months into its full-scale invasion of Ukraine, Russia in September 2022 claimed to have annexed all four Ukrainian regions - even though its troops still do not fully control any of them. Russian forces now occupy almost all of the Luhansk region and most of the Donetsk region, including their regional capitals. That is not the case for Zaporizhzhia and Kherson, where the main hubs are still under Ukrainian control. Russia in 2014 invaded and later claimed to have annexed the Crimean peninsula from Ukraine. AFP
Straits Times
3 hours ago
- Straits Times
Putin wins Ukraine concessions in Alaska but did not get all he wanted
FILE PHOTO: U.S. President Donald Trump shakes hand with Russian President Vladimir Putin, as they meet to negotiate for an end to the war in Ukraine, at Joint Base Elmendorf-Richardson in Anchorage, Alaska, U.S., August 15, 2025. REUTERS/Kevin Lamarque/File Photo MOSCOW - In a few short hours in Alaska, Vladimir Putin managed to convince Donald Trump that a Ukraine ceasefire was not the way to go, stave off U.S. sanctions, and spectacularly shatter years of Western attempts to isolate the Russian president. Outside Russia, Putin was widely hailed as the victor of the Alaska summit while at home, Russian state media cast the U.S. president as a prudent statesman, even as critics in the West accused him of being out of his depth. Russian state media made much of the fact that Putin was afforded a military fly-over, that Trump waited for him on the red carpet, and then let the Russian president ride with him in the back of the "Big Beast", the U.S. presidential limousine. "Western media are in a state that could be described as derangement verging on complete insanity," said Maria Zakharova, Russia's foreign minister spokeswoman. "For three years, they talked about Russia's isolation, and today they saw the red carpet rolled out to welcome the Russian president to the United States," she said. But Putin's biggest summit wins related to the war in Ukraine, where he appears to have persuaded Trump, at least in part, to embrace Russia's vision of how a deal should be done. Trump had gone into the meeting saying he wanted a quick ceasefire and had threatened Putin and Russia's biggest buyer of its crude oil - China - with sanctions. Top stories Swipe. Select. Stay informed. Singapore Over 280 vapes seized, more than 640 people checked by police, HSA in anti-vape raids at nightspots Singapore SPLRT disruption: 28km of cables to be tested during off-service hours; works to end by Aug 23 Singapore First-half GDP boost likely temporary; Republic must stay relevant amid challenges: Chan Chun Sing Life Six-figure sales each durian season: Why S'pore durian sellers are now live selling on TikTok Singapore Airport-bound public bus to be fitted with luggage rack in 3-month trial: LTA Asia Australian universities slash staff, courses as rising wages and foreign student curbs bite Life Meet the tutors who take O-level exams every year to create a 'war mate' bond with their students Life Pivot or perish: How Singapore restaurants are giving diners what they want Afterwards, Trump said he had agreed with Putin that negotiators should go straight to a peace settlement and not via a ceasefire as Ukraine and its European allies had been demanding - previously with U.S. support. "The U.S. president's position has changed after talks with Putin, and now the discussion will focus not on a truce, but on the end of the war. And a new world order. Just as Moscow wanted," Olga Skabeyeva, one of Russian state TV's most prominent talkshow hosts, said on Telegram. Russia launched its full-scale invasion of Ukraine in February 2022, saying Kyiv's embrace of the West had become a threat to its security, something Ukraine has dismissed as a false pretext for what it calls a colonial-style land grab. The war - the deadliest in Europe for 80 years - has killed or wounded well over a million people from both sides, including thousands of mostly Ukrainian civilians, according to analysts. NO ECONOMIC RESET The fact that the summit even took place was a win for Putin before it even started, given how it brought him in from the diplomatic cold with such pomp. Putin is wanted by the International Criminal Court, accused of the war crime of deporting hundreds of children from Ukraine. Russia denies any wrongdoing, saying it acted to remove unaccompanied children from a conflict zone. Neither Russia nor the United States are members of the court. Dmitry Medvedev, Russia's former president and a close Putin ally, said the summit had achieved a major breakthrough when it came to restoring U.S.-Russia relations, which Putin had lamented were at their lowest level since the Cold War. "The mechanism for high-level meetings between Russia and the United States has been restored in its entirety," he said. But Putin did not get everything he wanted and it's unclear how durable his gains will be. For one, Trump did not hand him the economic reset he wanted - something that would boost the Russian president at a time when his economy is showing signs of strain after more than three years of war and increasingly tough Western sanctions. Yuri Ushakov, Putin's foreign policy aide, said before the summit that the talks would touch on trade and economic issues. Putin had brought his finance minister and the head of Russia's sovereign wealth fund all the way to Alaska with a view to discussing potential deals on the Arctic, energy, space and the technology sector. In the end, though, they didn't get a look in. Trump told reporters on Air force One before the summit started there would be no business done until the war in Ukraine was settled. It's also unclear how long the sanctions reprieve that Putin won will last. Trump said it would probably be two or three weeks before he would need to return to the question of thinking about imposing secondary sanctions on China, to hurt financing for Moscow's war machine. Nor did Trump - judging by information that has so far been made public - do what some Ukrainian and European politicians had feared the most and sell Kyiv out by doing a deal over the head of Ukrainian President Vladimir Zelenskiy. Trump made clear that it was up to Zelenskiy as to whether he would agree - or not - with ideas of land swaps and other elements for a peace settlement that the U.S. president had discussed with Putin in Alaska. Although as Trump's bruising Oval Office encounter with Zelenskiy showed earlier this year, if Trump thinks the Ukrainian leader is not engaging constructively, he can quickly turn on him. Indeed, Trump was quick to start piling pressure on Zelenskiy, who is expected in Washington on Monday, saying after the summit that Ukraine had to a deal because, "Russia is a very big power, and they're not". "The main point is that both sides have directly placed responsibility on Kyiv and Europe for achieving future results in the negotiations," said Medvedev, who added that the summit showed it was possible to negotiate and fight at the same time. DONBAS DEMAND While deliberations continue, Russian forces are slowly but steadily advancing on the battlefield and threatening a series of Ukrainian towns and cities whose fall could speed up Moscow's quest to take complete control of the eastern region of Donetsk, one of four Ukrainian regions Russia claims as its own. Donetsk, some 25% of which remains beyond Russia's control, and the Luhansk region together make up the industrial Donbas region, which Putin has made clear he wants in its entirety. Putin told Trump he'd be ready to freeze the front lines in Zaporizhzhia and Kherson, two of the other regions he claims, if Kyiv agreed to withdraw from both Donetsk and Luhansk, a person familiar with the matter told Reuters. Zelenskiy rejected the demand, the source said. According to the New York Times, Trump told European leaders that Ukrainian recognition of Donbas as Russian would help get a deal done. And the U.S. is ready to be part of security guarantees for Ukraine, German Chancellor Friedrich Merz said. Some Kremlin critics said it would be a mistake to credit Putin with too much success at this stage. "Russia has re-established its status and got dialogue with the U.S.," said Michel Duclos, a French diplomat who formerly served in Moscow and who is an analyst at the Institut Montaigne think-tank. "But when you have a war on your hands and your economy is collapsing, these are limited gains." Russian officials deny the economy, which has been put on a war footing and has proved more resilient than the West forecast despite heavy sanctions, is collapsing. But they have acknowledged signs of overheating and have said the economy could enter recession next year unless policies are adjusted. "For Putin, economic problems are secondary to his goals, but he understands our vulnerability and the costs involved," said one source familiar with Kremlin thinking. "Both sides will have to make concessions. The question is to what extent. The alternative, if we want to defeat them militarily, is to mobilise resources more deeply and use them more skilfully, but we are not going down that road for various reasons," the person said. "It will be Trump's job to pressure Ukraine to recognise the agreements." REUTERS
Straits Times
4 hours ago
- Straits Times
Suffering Ukrainians dismayed by outcome and optics of Trump-Putin summit
U.S. President Donald Trump and Russian President Vladimir Putin shake hands during a press conference following their meeting to negotiate an end to the war in Ukraine, at Joint Base Elmendorf-Richardson, in Anchorage, Alaska, U.S., August 15, 2025. REUTERS/Kevin Lamarque/File Photo KYIV/ZAPORIZHZHIA, Ukraine - Ukrainians expressed anger and frustration on Saturday over the failure of the U.S. and Russian presidents to agree on the need for a truce in the Ukraine war at a summit, and the sight of Donald Trump giving Vladimir Putin a red-carpet welcome in Alaska. Trump urged Ukraine to make a deal to end the war because "Russia is a very big power". Trump also said he agreed with Putin that the sides should focus on an overall peace settlement, not via a ceasefire, as Kyiv and its European allies have been demanding - until now with U.S. support. "He (Putin) won. Trump showed his attitude towards him and at the same time towards us. This meeting did not end well for Ukraine," said a 26-year-old soldier who gave only his call-sign "Dzha". "... we need to end the war. We need to really sit down at the negotiating table and talk, come to an agreement, because every day fighters die, get injured." "Dzha" was serving as godfather at a baptism in a church in Zaporizhzhia, southeastern Ukraine, one of four regions Russia claims to have annexed, though it does not fully control them. 'BOMBS WILL KEEP FALLING ON US' "They (Putin and Trump) made some agreements for their states," said Viktor Tkach, the chaplain conducting the baptism. "And here in Ukraine, in Zaporizhzhia, in the Zaporizhzhia region, we will keep suffering, glide bombs will keep falling on us." Top stories Swipe. Select. Stay informed. Singapore Over 280 vapes seized, more than 640 people checked by police, HSA in anti-vape raids at nightspots Singapore SPLRT disruption: 28km of cables to be tested during off-service hours; works to end by Aug 23 Singapore First-half GDP boost likely temporary; Republic must stay relevant amid challenges: Chan Chun Sing Life Six-figure sales each durian season: Why S'pore durian sellers are now live selling on TikTok Singapore Airport-bound public bus to be fitted with luggage rack in 3-month trial: LTA Asia Australian universities slash staff, courses as rising wages and foreign student curbs bite Life Meet the tutors who take O-level exams every year to create a 'war mate' bond with their students Life Pivot or perish: How Singapore restaurants are giving diners what they want Some were outraged that Trump had invited Putin to the U.S. and treated him with such respect, as an equal. Putin has been ostracised by Western leaders since launching the full-scale invasion of Ukraine in February 2022 and is wanted by the International Criminal Court, accused of the war crime of deporting hundreds of children from Ukraine, which he denies. "Literally yesterday, a ballistic missile was launched at Sumy. And this animal (Putin) flies to Alaska where people applaud him, and the red carpet is rolled out in front of him," said Hanna Kucherenko, a 25-year-old model, in Kyiv. "How is that even possible now?" A manipulated image of Trump and Putin shaking hands on the airport tarmac against the backdrop of bombed residential apartment blocks in Ukraine circulated widely online. "I do not know what Trump is even thinking about. I have an impression that he is just the same (as Putin)," said Kyiv pensioner Tetiana Vorobei. "They are identical." REUTERS
