Canada LNG Is the First Sign of a Global Gas Oversupply
After years of tight supply and wild price swings in the global gas market, there are signs of something different: too much of a good thing.
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China Urges Firms to Avoid Nvidia H20 Chips After Trump Resumes Sales
(Bloomberg) -- Beijing has urged local companies to avoid using Nvidia Corp.'s H20 processors, particularly for government-related purposes, complicating the chipmaker's return to China after the Trump administration reversed an effective US ban on such sales. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain A New Stage for the Theater That Gave America Shakespeare in the Park Over the past few weeks, Chinese authorities have sent notices to a range of firms discouraging use of the less-advanced semiconductors, people familiar with the matter said. The guidance was particularly strong against the use of H20s for any government or national security-related work by state enterprises or private companies, said the people, who asked not to be identified because the information is sensitive. The letters didn't, however, constitute an outright ban on H20 use, according to the people. Industry analysts broadly agree that Chinese companies still covet those chips, which perform quite well in certain crucial AI applications. President Donald Trump said Monday that the processor 'still has a market' in the Asian country despite also calling it 'obsolete.' Nvidia and Advanced Micro Devices Inc. both recently secured Washington's approval to resume lower-end AI chip sales to China, on the controversial and legally questionable condition that they give the US government a 15% cut of the related revenue. But even with Trump's team on board, the two companies face the challenge that their Chinese customers are under Beijing's pressure to purchase domestic chips instead. Beijing's overall push affects AI accelerators from AMD in addition to Nvidia, one of the people said, though it's unclear whether any letters specifically mentioned AMD's MI308 chip. Shares of Chinese AI chip designer Cambricon Technologies Corp. surged to their daily limit of 20% on the news of China's guidance, leading a rally in peers such as Semiconductor Manufacturing International Corp. Beijing's stance could limit Trump's ability to turn his export control about-face into a windfall for government coffers, a deal that highlighted his administration's transactional approach to national security policies long treated as nonnegotiable. Still, Chinese companies may not be ready to jump ship to local semiconductors. 'Chips from domestic manufacturers are improving dramatically in quality, but they might not be as versatile for specific workloads that China's domestic AI industry hopes to focus on,' said Homin Lee, a senior macro strategist at Lombard Odier in Singapore. Lee added that he anticipates 'strong' demand for the chips the Trump administration is allowing Nvidia and AMD to sell. Rosenblatt Securities analyst Kevin Cassidy said he doesn't anticipate that Nvidia's processor sales to China will be affected because 'Chinese companies are going to want to use the best chips available.' Nvidia and AMD's chips are superior to local alternatives, he said. Beijing asked companies about that issue in some of its letters, according to one of the people, posing questions such as why they buy Nvidia H20 chips over local versions, whether that's a necessary choice given domestic options, and whether they've found any security concerns in the Nvidia hardware. The notices coincide with state media reports that cast doubt on the security and reliability of H20 processors. Chinese regulators have raised those concerns directly with Nvidia, which has repeatedly denied that its chips contain such vulnerabilities. The Financial Times reported that some Chinese companies are planning to decrease orders of Nvidia chips in response to the letters. Right now, the people said, China's most stringent chip guidance is limited to sensitive applications, a situation that bears similarities to the way Beijing restricted Tesla Inc. vehicles and Apple Inc. iPhones in certain institutions and locations over security concerns. China's government also at one point barred the use of Micron Technology Inc. chips in critical infrastructure. It's possible that Beijing may extend its heavier-handed Nvidia and AMD guidance to a wider range of settings, according to one person with direct knowledge of the deliberations, who said that those conversations are in early stages. AMD declined to comment on Beijing's notices, while Nvidia said in a statement that 'the H20 is not a military product or for government infrastructure.' China has ample supplies of domestic chips, Nvidia said, and 'won't and never has relied on American chips for government operations.' China's Ministry of Industry and Information Technology and the Cyberspace Administration of China didn't respond to faxed requests for comment on this story, which is based on interviews with more than a half-dozen people familiar with Beijing's policy discussions. The White House didn't respond to a request for comment. The Chinese government's posture raises questions about the Trump administration's explanation for why the US is allowing those exports mere months after effectively banning such sales. Multiple senior US officials have said their policy reversal was the result of trade talks with China, but Beijing has publicly indicated that the resumed H20 shipments weren't part of any bilateral deal. China's recent notices to companies suggest that the Asian country may not have sought such a concession from Washington in the first place. Beijing's concerns are twofold. For starters, Chinese officials are worried that Nvidia chips could have location-tracking and remote-shutdown capabilities — a suggestion that Nvidia has vehemently denied. Trump officials are actively exploring whether location tracking could be used to help curtail suspected smuggling of restricted components into China, and lawmakers have introduced a bill that would require location verification for advanced AI chips. Second, Beijing is intensely focused on developing its domestic chip capabilities, and wants Chinese companies to shift away from Western chips in favor of local offerings. Officials have previously urged Chinese firms to choose domestic semiconductors over Nvidia H20 processors, Bloomberg reported last September, and have introduced energy efficiency standards that the H20 chip doesn't meet. Nvidia designed the H20 chip specifically for Chinese customers to abide by years of US restrictions on sales of its more advanced hardware, curbs designed to limit Beijing's access to AI that could benefit the Chinese military. The H20 chip has less computational power than Nvidia's top offerings, but its strong memory bandwidth is quite well suited to the inference stage of AI development, when models recognize patterns and draw conclusions. That's made it a desirable product to companies like Alibaba Group Holding Ltd. and Tencent Holdings Ltd. in China, where domestic chip champion Huawei Technologies Co. is struggling to produce enough advanced components to meet market demand. By one estimate from Biden officials — who considered but did not implement controls on H20 sales — losing access to that Nvidia chip would make it three to six times more expensive for Chinese companies to run inference on advanced AI models. 'Beijing appears to be using regulatory uncertainty to create a captive market sufficiently sized to absorb Huawei's supply, while still allowing purchases of H20s to meet actual demands,' said Lennart Heim, an AI-focused researcher at RAND, of China's push for companies to avoid American AI chips. 'This signals that domestic alternatives remain inadequate even as China pressures foreign suppliers.' In his remarks Monday, Trump said China's Huawei already offers chips comparable to the Nvidia H20, echoing previous remarks by officials in his administration who've defended the decision to resume H20 exports partly on those grounds. The US should keep the Chinese AI ecosystem reliant on less-advanced American technology for as long as possible, these officials say, in order to deprive Huawei of the revenue and know-how that would come from a broader customer base. Other administration officials have strongly objected to that logic, Bloomberg has reported, arguing that resuming H20 exports will only embolden China's tech champions and bolster the country's overall computing power. Commerce Secretary Howard Lutnick and other Trump officials have also claimed that the H20 move was part of a deal to improve American access to Chinese rare-earth minerals — despite the Trump team's previous assertions that such an arrangement wasn't on the table. 'As the Chinese deliver their magnets, then the H20s will come off,' Lutnick said last month. Treasury Secretary Scott Bessent said in late July that the magnet issue had been 'solved.' The first Nvidia H20 and AMD MI308 licenses arrived a bit over a week after Bessent's declaration — after Nvidia Chief Executive Officer Jensen Huang met with the president and both companies agreed to share their China revenue with the US government. --With assistance from Yanping Li, Sangmi Cha and Emily Forgash. (Updates with additional analyst commentary in ninth paragraph.) Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan The Social Media Trend Machine Is Spitting Out Weirder and Weirder Results The Game Starts at 8. The Robbery Starts at 8:01 Klarna Cashed In on 'Buy Now, Pay Later.' Now It Wants to Be a Bank ©2025 Bloomberg L.P. 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Cenovus Energy in talks to acquire stake in MEG Energy, Bloomberg News reports
(Reuters) -Cenovus Energy is in talks with with Indigenous groups in Canada to jointly buy a stake in MEG Energy worth C$2 Billion ($1.45 billion), Bloomberg News reported on Tuesday, citing people familiar with the discussions. Cenovus Energy did not immediately respond to Reuters request for a comment. ($1 = 1.3760 Canadian dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Energy Domain Acquires Clerk Records, LLC and Proprietary Technology from Founder Jason Smith, Who Joins in Advisory Role
Joint Effort Will Integrate Structured, AI-extracted Courthouse Records into the Energy Domain Data Platform and Expand Standalone Product FORT WORTH, Texas, August 12, 2025--(BUSINESS WIRE)--Energy Domain, the Fort Worth-based technology company behind Energy Domain Marketplace and Energy Domain Data, announced it has acquired the domain along with the proprietary technology behind the project — a next-generation, AI-enhanced courthouse records platform. Together with Clerk Records founder and CEO Jason Smith, Energy Domain is developing two ways for users to access the technology: Energy Domain Courthouse, which will feature seamless integration into the user-friendly, cost-efficient Energy Domain Data tool, and an expanded, standalone platform. After decades shaping and guiding one of the leading courthouse data providers, Jason Smith launched Clerk Records earlier this year to pursue a more advanced, AI-driven vision. With this acquisition, Energy Domain gains not just his new technology, but also Smith himself in an advisory role — bringing with him the relationships and strategic insight needed to turn that technology into the next standard in courthouse data access. "A big part of collecting courthouse records is knowing how to work with hundreds of counties, understanding their formats and schedules, and having the personal relationships to actually get these documents," said Energy Domain CEO Ben Heinzelmann. "Once you've got the documents, though, it's all about the technology you use to index and integrate the data — and with Jason and Clerk Records, we're getting the best of both worlds." Smith expanded on that theme, explaining how recent advancements in AI are transforming what's possible (and newly affordable) across the market. "Up until very recently, extracting data from courthouse documents was almost entirely manual," Smith said. "If you wanted to pull attributes from an oil and gas lease, you were typing it all out, so companies could only afford to capture a handful of data points. With AI, we're pulling details from every page and every clause. That means our users can understand what the document actually says, and search on all those attributes." "An inflection point like this may not come around again in our careers," Smith continued. "I knew this was an unmissable opportunity to build something that leverages that kind of power from the ground up." With the technology in hand to extract the full range of courthouse data, both Smith and the Energy Domain leadership team saw the advantages of working together. Energy Domain Data already delivers proprietary rig tracking, well status, and production datasets through a user-friendly, map-based platform with flexible, transparent pricing. Adding Clerk Records' courthouse documents and mineral appraisal rolls brings new depth to the platform — helping Energy Domain deliver enterprise-grade intelligence in a format that's efficient, affordable, and built for real-world users. "This is about delivering what the market has been missing," Energy Domain COO Malcolm Smith said. "Land professionals, title researchers, and energy data teams have been stuck piecing together information from fragmented sources or paying enterprise-level prices for inflexible plans. Energy Domain is changing that. We're providing a single, powerful tool with transparent pricing, built for how research actually gets done." "We're preparing to launch Energy Domain Courthouse as a fully integrated companion to Energy Domain Data, while also expanding for users in real estate, legal, or surveying who prefer a standalone option," Heinzelmann concluded. "And we're not stopping there. We're currently indexing records from Texas, but we're looking to expand into New Mexico and Louisiana next. We're also developing tools that support common language search. That has always been a challenge in this space because of the inconsistent formats of courthouse documents across counties. But with structured AI extraction, we can finally build tools that reflect how people work — intuitive, complete, and available to everyone." To find out more about Energy Domain Data, visit to sign up for a free 7-day trial in your choice of basin. To receive updates on the upcoming availability of fully searchable courthouse records through Energy Domain Courthouse, contact sales@ ABOUT CLERK RECORDS, LLC Founded by courthouse data search pioneer Jason Smith, Clerk Records, LLC is building the next generation of courthouse records access, using AI-enhanced indexing and seamless API integration to help businesses access, analyze, and integrate land and mineral data into their operations. Visit for more information. ABOUT ENERGY DOMAIN Energy Domain has transformed into an upstream technology platform with two products — Energy Domain Marketplace and Energy Domain Data — to affordably, efficiently and synergistically serve their clients' needs. Born from a desire to revolutionize the oil and gas asset transaction process, Energy Domain began as a pioneering online marketplace fueled by data and driven by results. Having secured roughly $150MM in gross transaction volume under contract since 2021, Energy Domain Marketplace continues to empower both sellers and buyers with a streamlined platform, nationwide reach, and powerful analytics. Energy Domain Marketplace has now been joined by Energy Domain Data, an upstream intelligence platform designed to help oil and gas industry buyers and sellers underwrite assets and make informed decisions, with simplified data access, cost-effective flexibility and transparent pricing. Visit for more information. 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