China urges firms not to use Nvidia's H20 chips, Bloomberg News reports
Authorities have sent notices to a range of firms discouraging use of the less-advanced semiconductors, with the guidance taking a particularly strong stance against the use of Nvidia's H20s for any government or national security-related work by state enterprises or private companies, the report said.
Reuters could not immediately confirm the report. Nvidia did not immediately respond to a request for comment outside regular business hours.
Nvidia said in July that its products have no ' backdoors ' that would allow remote access or control after China raised concerns over potential security risks in the firm's H20 artificial intelligence chip.
U.S. President Donald Trump suggested on Monday that he might allow Nvidia to sell a scaled-down version of its next-generation advanced GPU chip in China, despite deep-seated fears in Washington that China could harness U.S. artificial intelligence capabilities to supercharge its military.
The move could open the door to China securing more advanced computing power from the U.S. even as the two countries battled for technology supremacy, critics said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
2 hours ago
- Express Tribune
Chinese group plans Pakistan's largest textile unit
One of China's largest textile enterprises will invest $150 million in Punjab. Under a memorandum of understanding (MoU), the group will produce up to eight million garment items per month in Punjab by utilising six million metres of fabric. According to an official statement, a state-of-the-art special economic zone will be established on 100 acres and Pakistan's largest advanced textile industry will be set. The Chinese group will export garments through well-known American brands. Through the initiative, 18,000 people will get jobs in next eight months and 25,000 in five years. The group will obtain raw material for garment production from Pakistan and the project is expected to generate more than $100 million in annual exports. During a meeting with Punjab Chief Minister Maryam Nawaz Sharif along with Chinese Consul General Zhao Shiren, Challenge Group Chairman Wego Hong appreciated her investment-friendly policies. Matters pertaining to the promotion of the textile industry and investment in Punjab were discussed in the meeting. The chief minister said, "Pakistan aims to enhance the trade and business partnership to greater heights in the next few years. We are establishing a state-of-the-art and magnificent garment city in Punjab, and will benefit from the expertise and experience of Challenge Group. The Punjab government intends to work with the Challenge Group for the success of garment city in Punjab. The Punjab government will provide complete support for the promotion of investment in the province." She outlined, "We want to shift China's large textile factories and institutions to Punjab. The 'Challenge Special Economic Zone' will play an important role for brisk industrial development of Punjab." She said plastic waste was being recycled and used in high-performance fabrics under a modern textile project. The chief minister said, "The Punjab government is investing heavily for the promotion of technical skills among the youth through TEVTA (Technical Education and Vocational Training Authority). We want to provide market-based human resources to cater to the needs of industrial enterprises." Wego Hong said his group wanted to bring better textile machinery and technology than China to Punjab. He expressed the desire to create innovation in the textile market of the province. He said the policies and vision of Chief Minister Maryam Nawaz were encouraging for the promotion of foreign investment in Punjab. He said the pro-investment policies had motivated him to visit the province. He added that recent investment of China in Punjab depicted the investment-friendly vision of the chief minister shared during her last visit to China. Electric buses Chief Minister Maryam Nawaz also announced on Wednesday that another fleet of 100 electric buses is en route from China to Pakistan as part of an effort to expand public transport in districts of Punjab that have long lacked formal services. She stated in a social media post that the buses were being loaded at Yantai Port in China, and were expected to set sail at night. The new fleet will serve Mianwali, Okara, Nankana Sahib, Muzaffargarh, Vehari, Pakpattan and Dera Ghazi Khan.
Business Recorder
8 hours ago
- Business Recorder
S&P 500, Nasdaq rise to record highs on September rate cut hopes
The benchmark S&P 500 and the Nasdaq hit record highs on Wednesday, underpinned by gains in megacap companies as investors were increasingly confident that the Federal Reserve could restart its monetary policy easing cycle next month. Signs that U.S. tariffs on imports have not fully filtered into headline consumer prices came as a relief for investors this week as they scour for insights on the impact trade uncertainty has had on the economy. Despite data showing underlying price pressures were on the rise, markets also factored in recent weakness in the job market and a shake-up at the Federal Reserve as they leaned in favor of a potential dovish move by the central bank in September. Traders are now fully pricing in a 25 basis points interest rate cut, according to the CME's FedWatch Tool, up from 89.2% last week. The central bank last lowered borrowing costs in December. 'We're pretty much certain that we'll have at least 25 basis points of rate cuts in the month of September,' said Thomas Hayes, chairman at Great Hill Capital LLC in NY, and noted that the Fed would have to respond to labor market weakness. At 09:59 a.m. ET, the Dow Jones Industrial Average rose 379.32 points, or 0.86%, to 44,839.44, the S&P 500 gained 28.17 points, or 0.44%, to 6,474.20 and the Nasdaq Composite gained 84.32 points, or 0.39%, to 21,766.23. Ten of the 11 S&P 500 sectors were higher, led by consumer discretionary that gained 1.1%, with and Tesla up over 1.5% each. Wall St edges higher after inflation rises moderately in July The blue-chip Dow was less than 1% away from an all-time high and the Russell 2000 index, which tracks rate-sensitive small-cap companies, added 0.8% to hit a six-month high. 'Rates coming down will also help (small-cap companies) refinance their debt loads, which is very positive for a lot of the laggard stocks that haven't moved as much in this big move off the April lows,' Hayes said. The CBOE volatility index, popularly referred to as Wall Street's fear gauge, dropped to 14.46 - its lowest since January. Later in the day, investors will scrutinize remarks of a number of policymakers, especially Chicago Fed President Austan Goolsbee - a Federal Open Market Committee voting member this year. Earnings are also in focus. CoreWeave, which is backed by Nvidia, slumped 12% after the AI data center operator reported a bigger-than-expected quarterly net loss. Eyes are also on developments surrounding the China revenue-sharing deal the U.S. government signed with chipmakers like Nvidia and Advanced Micro Devices, which the White House said could be expanded to others in the sector. Nvidia was flat, while Advanced Micro Devices rose 5.8%. Paramount Skydance jumped 19% and is up over 24% this week. The company won exclusive broadcasting rights to the Ultimate Fighting Championship for seven years earlier this week. In geopolitics, Donald Trump and European leaders are expected to hold a virtual meeting on the Russo-Ukraine conflict, two days before the U.S. president meets Russian President Vladimir Putin. Advancing issues outnumbered decliners by a 3.82-to-1 ratio on the NYSE and by a 2.45-to-1 ratio on the Nasdaq. The S&P 500 posted 32 new 52-week highs and two new lows, while the Nasdaq Composite recorded 110 new highs and 36 new lows.
Business Recorder
9 hours ago
- Business Recorder
Trump-Putin summit to take place on US military base
WASHINGTON: The summit between US President Donald Trump and his Russian counterpart Vladimir Putin will be held at Joint Base Elmendorf-Richardson in Alaska, a White House official said Wednesday. The two leaders will meet on Friday to discuss an end to the more than three-year war in Ukraine, in what will be their first standalone summit since a 2018 meeting in Helsinki. Joint Base Elmendorf-Richardson – located near Alaska state capital Anchorage – is made up of the Elmendorf Air Force base and the Army's Fort Richardson, which were combined in 2010. Kremlin says Trump-Putin meeting agreed for 'coming days' The base is the headquarters for entities including Alaska Command – responsible for US forces in the state – as well as the Alaskan NORAD Region, which helps provide aerospace control and warning. The US military regularly conducts intercepts of Russian aircraft that venture near American airspace in Alaska, contacting Moscow's planes visually or electronically. Russia launched a full-scale invasion of Ukraine in February 2022, and Trump has spent the first months of his second term in office trying to broker a peace accord, an effort that has so far failed to yield a breakthrough.
