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Business Standard
5 hours ago
- Automotive
- Business Standard
Nvidia CEO downplays role in lifting US ban on chip sales to China
The head of Nvidia downplayed his role in getting the US government to lift a ban on selling an advanced computer chip in China and said it will take time to ramp up production once orders for the AI-processor come in. CEO Jensen Huang, speaking Wednesday in the Chinese capital Beijing, was upbeat about the prospects for the H20 chip, which was designed to meet US restrictions on technology exports to China but nonetheless blocked in April. He met US President Donald Trump before his trip and his company announced this week it had received assurances that sales to China would be approved. I don't think I changed his mind, Huang told a cluster of journalists, many of whom asked for his autograph or to take selfies with him. A carefully organised press conference at a luxury hotel descended into a crowd scene when Huang arrived in his trademark leather jacket and started taking questions randomly in his characteristic casual style. Export controls and tariffs were something companies must adapt to in a world he said was reconfiguring itself. He described his role as informing governments in the US and elsewhere of the nature and unintended consequences of their policies. The decision to lift the ban on the H20 chip was entirely in the hands of the American and Chinese governments and whatever trade talks they had, he said. We can only influence them, inform them, do our best to provide them with facts, Huang said. And then beyond that is out of our control. Nvidia said in April that sales restrictions on its chip in China on national security grounds would cost the company $5.5 billion. The White House also blocked a chip from Advanced Micro Devices. Both companies say the Commerce Department is now moving forward with license applications to export them to China. Huang said his company would likely be able to recover some of its losses but it's unclear how much. That will depend on how many H20 orders are received and how quickly Nvidia can meet the demand. I think that H20 is going to be very successful here, he said, noting the chip's memory bandwidth makes it a good fit for the AI models being developed by Chinese companies such as DeepSeek and Alibaba. Huang also touted the release of a new RTX Pro graphics chip that he said would power the development of humanoid robots. He described robotic systems with teams of robots working alongside people as the next wave in AI. Because there's so much robotics innovation going on and so much smart factory work being done here and the supply chain is so vast, RTX Pro is perfect, he said.
Al Arabiya
6 hours ago
- Automotive
- Al Arabiya
Nvidia ceo downplays role in lifting us ban on chip sales to china
The head of Nvidia downplayed his role in getting the US government to lift a ban on selling an advanced computer chip in China and said it will take time to ramp up production once orders for the AI-processor come in. CEO Jensen Huang, speaking Wednesday in the Chinese capital Beijing, was upbeat about the prospects for the H20 chip which was designed to meet US restrictions on technology exports to China but nonetheless blocked in April. He met US President Donald Trump before his trip, and his company announced this week it had received assurances that sales to China would be approved. 'I don't think I changed his mind,' Huang told a cluster of journalists, many of whom asked for his autograph or to take selfies with him. A carefully organized press conference at a luxury hotel descended into a crowd scene when Huang arrived in his trademark leather jacket and started taking questions randomly in his characteristic casual style. Export controls and tariffs were something companies must adapt to in a world he said was reconfiguring itself. He described his role as informing governments in the US and elsewhere of the nature and unintended consequences of their policies. The decision to lift the ban on the H20 chip was entirely in the hands of the American and Chinese governments and whatever trade talks they had, he said. 'We can only influence them, inform them, do our best to provide them with facts,' Huang said. 'And then beyond that is out of our control.' Nvidia said in April that sales restrictions on its chip in China on national security grounds would cost the company 5.5 billion. The White House also blocked a chip from Advanced Micro Devices. Both companies say the Commerce Department is now moving forward with license applications to export them to China. Huang said his company would likely be able to recover some of its losses, but it's unclear how much. That will depend on how many H20 orders are received and how quickly Nvidia can meet the demand. 'I think that H20 is going to be very successful here,' he said, noting the chip's memory bandwidth makes it a good fit for the AI models being developed by Chinese companies such as DeepSeek and Alibaba. Huang also touted the release of a new RTX Pro graphics chip that he said would power the development of humanoid robots. He described robotic systems with teams of robots working alongside people as the next wave in AI. 'Because there's so much robotics innovation going on and so much smart factory work being done here and the supply chain is so vast, RTX Pro is perfect,' he said.
Washington Post
8 hours ago
- Science
- Washington Post
NOAA was developing a way to predict extreme rainfall — until Trump officials stopped it
The Commerce Department has indefinitely suspended work on a crucial tool to help communities predict how rising global temperatures will alter the frequency of extreme rainfall, according to three current and former federal officials familiar with the decision, a move that experts said will make the country more vulnerable to storms supercharged by climate change. The tool is part of the National Oceanic and Atmospheric Administration's Atlas 15 project — a massive dataset that will show how often storms of a given duration and intensity could be expected to occur at locations across the United States. The project was intended to be published in two volumes: one that would assess communities' current risks, and a second that would project how those risks will change under future climate scenarios. The release of Atlas 15 had been long awaited by civil engineers, regional planners and other groups that use NOAA's precipitation frequency estimates to develop regulations and design infrastructure. Many parts of the country rely on decades-old data to determine their rainfall risks, and there is no authoritative national dataset of how rainfall and flood threats will rise in a warmer world. But work on Atlas 15′s climate projections has been on hold for months after Commerce Secretary Howard Lutnick ordered a review of volume two this spring, according to current and former NOAA officials with knowledge of the project. National Weather Service spokeswoman Erica Grow Cei confirmed the move to delay the project, saying Lutnick's review is aimed at 'making sure research dollars and technology investments are being put to the very best use for the American people.' She declined to say how long the hold is expected to last. Ed Clark, who had worked extensively on Atlas 15 as director of the agency's National Water Center, said that research for volume two was almost complete before he retired at the end of April and that the cost of remaining work was 'not a large price tag.' Meanwhile the toll of intensifying storms is becoming increasingly apparent. In the first 15 days of July, the National Weather Service has reported twice the usual number of flash floods — including the deluge that killed at least 130 in Central Texas and heavy rains in the northeast that drowned two people in New Jersey and left New York subway stations submerged. Clark worries that delaying the release of Atlas 15 climate projections — or canceling the volume altogether — could leave communities unprepared for shifting flood risks and make it harder for engineers to ensure that buildings, bridges and other projects can cope with future rainfall extremes. 'Designing our infrastructure for resilience is fundamentally a cost-saving measure,' he said. Preliminary data for volume one, which is based on historical observations, is still on track to be made public by the end of this year, according to Fernando Salas, director of the geo-intelligence division at the National Water Center. For every location in the contiguous United States, the dataset will show the likelihood of a given amount of precipitation falling in a certain time period — helping communities determine the level of rainfall they should expect to occur every year, as well as the sort of storm that would be expected to happen once every century. 'It's going to ensure we've got that baseline established for the entire country,' But the speed with which rising global temperatures are altering precipitation patterns means that the volume one estimates 'will be out of date very quickly,' said Jeremy Porter, head of climate implications research at the nonprofit First Street Foundation. It is a fact of physics that rising global temperatures allow the atmosphere to hold more moisture, providing additional fuel for extreme storms. In a peer-reviewed analysis published in 2023, First Street scientists found that 20 percent of the U.S. has already seen a fourfold increase in the likelihood of 100-year rainfall (an event with a 1 percent chance of happening in any given year). Once-rare events are expected to become even more common as the world continues to warm. A pilot version of Atlas 15 that includes current and future precipitation frequency estimates for Montana was released last year. Though the state is not expected to be among the states hit hardest by extreme rainfall in a warming climate, the volume two estimates showed that rainfall rates for 1-in-100 year events could increase by more than a tenth of an inch per hour if the world stays on its current warming path. The Northeast, Appalachia and other flood-prone regions are expected to experience even bigger increases in the intensity and frequency of extreme events, Porter said. But if NOAA doesn't restart work on volume 2, those states won't know exactly what those changes will be. Though private groups like First Street may produce their own climate projections, NOAA's precipitation frequency estimates provide an authoritative national standard, said Chad Berginnis, executive director of the Association of State Floodplain Managers. City and state regulations have incorporated the federal data into building codes and development plans. Civil engineers are required to consult NOAA when designing features such as road culverts and stormwater drainage systems, which may be intended to last 50 years or more. 'Knowing the future condition helps make that investment more resilient,' Berginnis said. He noted that most federal spending on disasters goes toward helping communities rebuild infrastructure that frequently wasn't designed to withstand the kinds of weather that climate change can bring. 'Think about it as a taxpayer,' he said. 'If we have this future information, we won't have to continue to be in the cycle of damage, repair, replace, damage again.'
Yahoo
16 hours ago
- Business
- Yahoo
Here are 5 things that will likely get more expensive in 2025
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Imported household appliances that are made with steel parts — like washing machines, refrigerators and stoves — will be subject to President Trump's expanded tariffs starting June 23, according to the Commerce Department. This marks one of the first times that the administration has targeted everyday household products, and could mean higher prices for the average American household. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how The administration increased tariffs on foreign steel and aluminum to 50% from 25% on June 4. This is in addition to a baseline 10% tariff on imported goods from most countries, along with a 25% tariff on foreign-made cars and auto parts. Many fear costs will continue to rise. Experts say that, regardless of any further actions from Trump, the prices of certain products and services are expected to rise significantly this year. Here are five you should watch out for. U.S. homeowners' insurers have hiked premium rates by double digits over the past two years. Premiums increased by 10.4% in 2024, following a rise of 12.7% in the previous year, according to S&P Global Market Intelligence. If you're worried about affording your insurance policy, it's a good idea to shop around for rates when your plan is set to renew. takes the hassle out of shopping for home insurance. In just under 2 minutes, you can explore competitive rates from top insurance providers, all in one place. OfficialHomeInsurance makes it easy to find the coverage you need at a price that fits your budget. The side-by-side comparison is helping homeowners save an average of $482 on their home insurance policies. Home insurance premiums aren't the only thing coming out of homeowners' pockets. If you own a car, you have another cost to deal with. Car insurance rates rose an average of 16.5% in 2024 according to ValuePenguin. Shopping around and bundling your auto and homeowners' insurance can lead to substantial savings. lets you compare quotes from trusted brands, including Progressive, Allstate and GEICO, to make sure you're getting the best deal. The matching system takes into account your location, vehicle details, and driving history to find you the lowest rate possible. You can find deals starting at just $29 per month and switch over your policy in just a few minutes. And if you have a furry friend, consider getting pet insurance to avoid expensive vet bills. With only 2% of pets insured across the U.S., pet owners typically spend up to $186 on average for a routine veterinary checkup, and anywhere between $374 and $1,285 for an emergency visit. BestMoney lets you compare pet insurance policies offered by reputed providers like Spot Pet Insurance, ASPCA, Pet Best and more. You can compare the coverage benefits, deductibles (if any), geographical availability and reviews — all in their online marketplace. Find offers starting at just $10 per month. Read more: Rich, young Americans are ditching the stormy stock market — Eggs are a staple item in many people's fridges. But in 2025, egg prices are expected to rise due largely to a wave of avian flu, plus the effects of Trump's tariffs. The impact is already being felt. While costs may vary depending on your location, the consumer price index reported that the price of a dozen large eggs reached $4.95 nationwide in January, up from $4.15 in December. Just a year ago, the average price was only $2.52 per dozen. If your household uses eggs regularly, buying in bulk could be a potential way to save. Alternatively, check out local farms to see if they offer fresh eggs at a lower price compared to your nearby supermarket. If you're someone who can't function without your morning dose of caffeine, here's some bad news: The price of coffee rose more than 80% in 2024, according to The Wall Street Journal, surpassing a record set in 1977. And with concerns brewing about a weak 2025 harvest in Brazil, plus Trump's tariff threats to Mexico, prices could easily follow a similar pattern this year. A 2024 survey by Drive Research found that 73% of Americans drink coffee every day, and 51% purchase coffee outside the home at least once a week. Little luxuries like café treats are often worth their extra cost if they boost your mood — but to keep them in your budget, you should look for ways to make your money work harder for you, so you can grow your nest egg. You can easily compare multiple online banks offering high-yield savings accounts with 4% or more in annual interest in a matter of minutes. Many options now offer $0 monthly fees and don't require a minimum balance to earn their high APY. The cost of streaming services is increasing in 2025. YouTube TV raised its monthly rate to $82.99 from $72.99 in January. Netflix also followed suit by announcing price increases across all plans at the same time. Most budgeting experts recommend an annual content audit to make sure you're not paying for platforms you rarely use. According to a study by Bango, one-third of Americans pay for a subscription they don't use. Another practical and long-lasting way to save is by keeping track of where your money is going. However, budgeting can be challenging, especially when trying to track multiple accounts and daily expenses simultaneously. Monarch Money's expense tracking system simplifies the process. The platform seamlessly connects all your accounts in one place, giving you a clear view of where you're overspending. It also helps you monitor your expenses and payments in real-time. Whether you're looking to save, invest, or simply control your spending, Monarch Money offers the tools to help you succeed. For a limited time, you can get 50% off your first year with the code NEWYEAR2025. Travel is a luxury that a lot of people are willing to prioritize. But in 2025, it might cost you more to get away. American Express Global Business Travel predicts prices on most routes involving U.S. airports will increase modestly, with domestic flights facing the biggest hikes. Some of America's top travel destinations are also introducing additional fees, as more countries in 2025 will require Electronic Travel Authorizations. These are permits travelers must pay for to enter visa-free countries, and they are linked to your passport. To save on travel, aim to book your vacation at an off-peak time, which may depend on your destination. Travel booking site Kayak found that the cheapest month to travel in 2024 was February. You can also save money by using the credit card that offers the most travel rewards and cash back. The challenge, however, is that searching for the right credit card can be overwhelming. With the process is quick, easy and personalized. Whether you're looking for cash back, travel rewards, a low APR or zero annual fees, their CardFinder tool matches you with the best offers from top providers. The process is simple: First, share a few details about your preferences and credit profile. Next, a soft credit check is performed, which won't affect your credit score. Finally, you can instantly compare and choose from a curated list of cards, complete with overviews of rewards, fees, and benefits. will help you find the perfect match and recommend a travel reward card that maximizes savings and benefits — all tailored to you. Here are the 6 levels of wealth for retirement-age Americans — are you near the top or bottom of the pyramid? This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Car insurance in America could climb to a stunning $2,502/year on average — but here's how 2 minutes can save you more than $600 in 2025 Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Money doesn't have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Al Arabiya
18 hours ago
- Business
- Al Arabiya
Trump to Put Tariffs of Over 10% on Smaller Nations, Including Those in Africa and the Caribbean
President Donald Trump told reporters Tuesday that he plans to place tariffs of over 10 percent on smaller countries including nations in Africa and the Caribbean. 'Well probably set one tariff for all of them,' Trump said, adding that it could be a little over 10 percent tariff on goods from at least 100 nations. Commerce Secretary Howard Lutnick interjected that the nations with goods being taxed at these rates would be in Africa and the Caribbean, places that generally do relatively modest levels of trade with the US and would be relatively insignificant for addressing Trump's goals of reducing trade imbalances with the rest of the world. The president had this month been posting letters to roughly two dozen countries and the European Union that simply levied a tariff rate to be charged starting August 1. Those countries generally faced tax rates on the goods close to the April 2 rates announced by the US president, whose rollout of historically high import taxes for the US caused financial markets to panic and led to Trump setting a 90-day negotiating period that expired July 9. Trump also said he would probably announce tariffs on pharmaceutical drugs at the end of the month. The president said he would start out at a lower tariff rate and give companies a year to build domestic factories before they faced higher import tax rates. Trump said computer chips would face a similar style of tariffs.
