Latest news with #US-made
Express Tribune
an hour ago
- Politics
- Express Tribune
Trump says Ukraine should not target Moscow amid missile supply row
Listen to article Donald Trump said Tuesday Ukraine should not target Moscow and that he had no plans to supply Kyiv with long-range missiles, following a report the US leader had encouraged President Volodymyr Zelensky to hit the Russian capital. The Financial Times reported that Trump had brought up a potential counteroffensive with Zelensky and even asked his Ukrainian counterpart whether he could hit Moscow, if Washington provided long-range weapons. Asked by reporters at the White House if Zelensky should target the Russian capital, Trump replied: "No, he shouldn't target Moscow." He was also asked if he was willing to supply Ukraine with long-range missiles and said: "No, we're not looking to." Read More: Trump sends weapons to Ukraine, gives Russia 50 days to stop war Citing two people familiar with the call, the Times reported that Trump spoke to Zelensky on July 4, a day after talks with Russian President Vladimir Putin. Trump also reportedly discussed sending Ukraine US-made ATACMS missiles, the Times said. Also Read: N Korea offers Russia full support on Ukraine Trump, who had vowed to end the Ukraine war within a day of returning to the White House, has said he is "disappointed" in Putin, who has kept attacking Ukraine as if the leaders' telephone conversations "didn't mean anything." White House Press Secretary Karoline Leavitt played down the Times report, saying in a statement that the paper was "notorious for taking words wildly out of context to get clicks." "President Trump was merely asking a question, not encouraging further killing," she said. "He's working tirelessly to stop the killing and end this war."
Time of India
2 hours ago
- Business
- Time of India
After Nvidia, AMD says it will restart AI chip sales to China
Advanced Micro Devices (AMD) has announced that it will soon resume shipping its MI308 artificial intelligence (AI) chips to China. The news comes hours after fellow chipmaker Nvidia said that it will resume the deliveries of its H20 AI chips to China 'soon'. AMD stated that the US Commerce Department intends to restart reviewing its license applications for sending these products to the world's second-largest economy. While Nvidia says it has been 'assured' by the government that licenses to sell its AI chips will be granted. The company plans to begin shipments as soon as those approvals are granted, AMD said. 'We applaud the progress made by the Trump administration in advancing trade negotiations and its commitment to US AI leadership,' CNBC quoted an AMD spokesperson as saying. US-China tensions and export controls This development comes amid tensions between the US and China, following a heated trade war initiated by US President Donald Trump's tariff policies. Both AMD and its competitor Nvidia have felt the impact of US export restrictions. While AMD had previously indicated it would incur up to $800 million in charges due to these controls, Nvidia warned of a $5.5 billion hit from restrictions on its H20 processors. Notably, both the H20 and MI308 chips were specifically developed for the Chinese market in response to these US export control rules. Recently, while replying to fears that China will use US-made chips for military purposes, Nvidia CEO Jensen Huang asserted that the Chinese military 'don't need Nvidia's chips, certainly, or American tech stacks in order to build their military,'because 'they simply can't rely on it'. He suggested that China knows that US technology 'could be limited at any time; not to mention, there's plenty of computing capacity in China already.' Nvidia has also announced a new RTX Pro GPU for China. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
3 hours ago
- Business
- Yahoo
Trade Desk, MP Materials, CoreWeave: Trending Tickers
Trade Desk (TTD) stock is surging on news that the company will join the S&P 500 (^GSPC), replacing Ansys (ANSS). Robinhood (HOOD) and Applovin (APP) are trading slightly lower after not making the cut to join the index once again. Rare-earth miner MP Materials (MP) stock is soaring on reports of a $500 million investment from Apple (AAPL) tied to rare-earth magnets from its Texas plant, according to Fox Business and other sources. CoreWeave (CRWV) is planning to build a $6 billion artificial intelligence (AI) data center in Pennsylvania, which, according to Reuters, is part of a broader $70 billion push for US AI and energy infrastructure. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Now time for some of today's trending tickers. We are watching tradedesk, MP materials, and coreweave. First up, shares of digital advertising company tradedesk surging and pre-market trading on the news that it's getting ready to join the S&P 500. Tradedesk will replace Ansys before the start of trading on Friday. Remember, Ansys had to be acquired by synopsis in a $35 billion deal. Also noting shares of Robinhood and Applovin slightly lower today, both snubbed from that benchmark index inclusion once again. Next, rare earth miner MP materials expected to get a $500 million investment from Apple. That's according to Fox Business and other reports. As part of the deal, the tech giant will buy US-made rare earth magnets from MP's Texas facility. Shares of the miner are jumping on this news. And remember, it comes just days after MP materials agreed to a multi-billion dollar deal with the US government to boost its output in an effort to compete with China. And as part of that deal, the government's taking a stake in the company. Finally, Coreweave building a $6 billion artificial intelligence data center in Pennsylvania. It's part of President Trump's push to boost AI infrastructure investment in the US. The announcement will be made at a CEO round table with Trump this afternoon, where the administration is expected to announce about $70 billion in AI and energy investments. That's according to Reuters. You can scan the QR code below to track the best and worst performing stocks with Yahoo Finance's trending tickers page. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Insider
3 hours ago
- Business
- Business Insider
Apple is investing $500 million in a US maker of rare earth magnets, and the company's stock is soaring
American manufacturing is getting a half-billion-dollar boost from Apple. The Cupertino-based iPhone maker said Tuesday it has reached a $500 million deal with MP Materials to buy US-made rare earth magnets. "Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States," Apple CEO Tim Cook said in a statement. Rare earths are used in the production of high-powered magnets that enable a wide range of electronic functions, ranging from electric motors and generators to wireless charging and haptic touch responses in mobile devices. While new supplies of rare earths continue to be mined, Apple's initiative with MP Materials focuses on reclaiming and recycling neodymium magnets specifically for Apple devices from used consumer electronics and post-industrial scrap. News of the deal sent MP Materials' stock price soaring more than 25% on Tuesday morning, topping a prior price high reached in April 2022. The gains extend a run that started last week when MP Materials inked a multibillion-dollar deal with the US Department of Defense that guarantees a price floor for two of the most popular rare earth metals that is nearly twice as high as the Chinese market level, Reuters reported. The move also sends a message to President Donald Trump, who has pressured Apple to make more of its products in the US. "I said to Tim, I said, 'Tim, look, we treated you really good, we put up with all the plants that you build in China for years, now you got build us," Trump said in May. Apple said in its release that this purchase commitment is part of a larger pledge to spend more than $500 billion in the US over the next four years. The company also said that MP Materials will provide "extensive" training at its new factory in Texas to build a new specialized workforce for magnet manufacturing.
Business Insider
4 hours ago
- Business
- Business Insider
Apple's latest message to Trump: We're buying American magnets
The Cupertino-based iPhone maker said Tuesday it has reached a $500 million deal with MP Materials to buy US-made rare earth magnets. "Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States," Apple CEO Tim Cook said in a statement. Rare earths are used in the production of high-powered magnets that enable a wide range of electronic functions, ranging from electric motors and generators to wireless charging and haptic touch responses in mobile devices. While new supplies of rare earths continue to be mined, Apple's initiative with MP Materials focuses on reclaiming and recycling neodymium magnets specifically for Apple devices from used consumer electronics and post-industrial scrap. News of the deal sent MP Materials' stock price soaring more than 25% on Tuesday morning, topping a prior price high reached in April 2022. The gains extend a run that started last week when MP Materials inked a multibillion-dollar deal with the US Department of Defense that guarantees a price floor for two of the most popular rare earth metals that is nearly twice as high as the Chinese market level, Reuters reported. The move also sends a message to President Donald Trump, who has pressured Apple to make more of its products in the US. "I said to Tim, I said, 'Tim, look, we treated you really good, we put up with all the plants that you build in China for years, now you got build us," Trump said in May.
