TNB Tech Minute: Lawmakers Accuse Nvidia of Being Too Close to China - Tech News Briefing
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Victoria Craig: Here's your TNB Tech Minute for Thursday, May 29th. I'm Victoria Craig for The Wall Street Journal. Nvidia shares rose three and a quarter percent today on Wall Street, far outpacing more muted gains on the major averages. Enthusiasm over the American chipmaker's quarterly revenue surge helped propel shares higher. That's despite a projected $8 billion loss in sales for the current quarter due to President Trump's tariff policy. Still, The Journal exclusively reports Nvidia is facing fresh accusations from U.S. lawmakers who say the company is too close to China. That stems from plans the chip giant has for a facility in Shanghai, which a bipartisan group of senators say would risk giving China access to cutting-edge technology. Elsewhere, Meta Platforms has teamed up again with its former virtual reality chief Palmer Luckey to build high-tech headsets for the U.S. Army. Lucky's defense company said today that with Meta, it will build a line of new rugged helmets, glasses, and other wearables to provide a VR or augmented reality experience. The new system dubbed Eagle Eye will have sensors that enhance hearing and vision and allow soldiers to operate AI-powered weapon systems. And finally, at the second day of The Wall Street Journal's Future of Everything conference here in New York City, United Airlines CEO said, "Air traffic control's tech and staffing issues have dented the airline's profit. Thanks to a decline in bookings at Newark airport." Scott Kirby though reassured customers, not only is it safe to fly to Newark, it will have the least travel disruptions of the three airports in the Tri-State area this summer. He said the upheavals have led to empty seats, which has lowered prices, and he encouraged travelers to "book now." For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast.
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