Nvidia CEO Jensen Huang said Wednesday that China is “not behind” in artificial intelligence, and that Huawei is “one of the most formidable technology companies in the world.”Speaking to reporters at a tech conference in Washington, D.C., Huang said China may be “right behind” the U.S. for now, but it’s a narrow gap.”We are very close,” he said. “Remember this is a longtime, infinite race.”Nvidia has become key to the world economy over the past few years as it makes the chips powering the majority of recent advanced AI applications. The company faces growing hurdles in the U.S., including tariffs…
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Mark Zuckerberg, CEO of Meta Platforms, during the Meta Connect event in Menlo Park, California, on Sept. 25, 2024.David Paul Morris | Bloomberg | Getty ImagesMeta is set to report its first-quarter earnings on Wednesday, and investors will be looking for any signs that President Donald Trump’s tough China tariffs are affecting the company’s online ads business.Here is what analysts polled by LSEG are expecting:Earnings per share: $5.27 expectedRevenue: $41.39 billion expectedAnalysts expect Meta’s China-derived advertising business to feel the most pain from Trump’s tariffs. Online retailers such as Temu and Shein are slashing their U.S. ad spending, and China…
Check out the companies making headlines in midday trading: Etsy — The e-commerce company saw shares tumbling 9%. Etsy Chief Financial Officer Lanny Baker said the company is “staying nimble in the face of uncertainty” around the tariff announcements and “the fluid state of consumer confidence in our core markets. Separately, Etsy posted better-than-expected revenue for the first quarter. Seagate Technology — The data storage stock surged almost 9% after the company posted strong earnings for the fiscal third quarter and offered upbeat current-quarter guidance. Seagate earned $1.90 per share, excluding items, on $2.16 billion in revenue, while analysts surveyed by…
With bellwethers of the artificial intelligence trade down big so far in 2025, Deepwater co-founder and managing partner Gene Munster says he is at a key inflection point after years of high conviction in the AI trade. “This has made me a little nervous that I’m too bought into the power of AI,” Munster told CNBC. “It’s a test of our conviction [and] it’s something that if you get it wrong, people will ask ‘how on earth did you get that one wrong?’ Shares of chipmaker Nvidia have plummeted more than 20% in 2025. Microsoft, which is a key investor…
Employees of the Department of Health and Human Services (HHS) queue outside the Mary E. Switzer Memorial Building, after it was reported that the Trump administration fired staff at the Centers for Disease Control and Prevention and at the Food and Drug Administration, as it embarked on its plan to cut 10,000 jobs at HHS, in Washington, D.C., U.S., April 1, 2025. Kevin Lamarque | ReutersRobert F. Kennedy Jr.’s overhaul of the Department of Health and Human Services involves deep cuts to several divisions that help protect and improve the health of minority and underserved populations and eliminate health disparities…
Mark Zuckerberg, CEO of Meta Platforms Inc.; from left, Lauren Sanchez; Jeff Bezos, founder of Amazon.com Inc.; Sundar Pichai, CEO of Alphabet Inc.; and Elon Musk, CEO of Tesla Inc., during the 60th presidential inauguration in the rotunda of the U.S. Capitol in Washington, D.C., on Jan. 20, 2025.Julia Demaree Nikhinson | Bloomberg | Getty ImagesPresident Donald Trump used to refer to Jeff Bezos as “Jeff Bozo.” Now, after more drama between the two men, Trump is calling the Amazon founder a “good guy.”Amazon’s earnings report, scheduled for Thursday, already had investors on edge due to the president’s sweeping tariffs…
Israel launched airstrikes on Syria on Wednesday and threatened to strike government forces there if clashes persisted between pro-government fighters and militiamen from the Druse minority.Wading into the latest eruption of sectarian violence in the country, the Israeli military said its aircraft had struck a group of “operatives” accused of having “attacked Druse civilians” in spreading violence around the outskirts of the capital, Damascus.It did not identify the operatives, but pro-government Islamist fighters have been locked in fierce clashes in the area with Druse militiamen for two days. Earlier, the Israeli government said its forces had targeted members of an…
All of the upside potential from artificial intelligence demand for Nvidia may already be priced into the stock, according to Seaport Research Partners. The firm initiated research coverage of the market bellwether and AI darling with a rare sell rating on Wednesday, alongside a $100 per share price target. Seaport’s forecast implies more than 8% downside from Tuesday’s $109.02 close. Shares have pulled back more than 21% in 2025, and are almost 31% below the January all-time high, a stark contrast to the massive runup Nvidia saw in the heyday of the AI boom. Jensen Huang’s company soared 239% in…
Mohsen Mahdawi speaks at a protest on the Columbia University campus on November 9, 2023 in New York City. Mukta Joshi | Getty ImagesColumbia University student Mohsen Mahdawi is free on bail after a judge ordered his release from federal immigration custody on Wednesday, weeks after armed DHS agents detained him in Vermont during his naturalization interview.Mahdawi, a 34-year-old U.S. permanent resident who was born and raised in a refugee camp in the West Bank, was detained April 14 and had been held at an Immigration and Customs Enforcement facility, the Northwest State Correctional Facility, in St. Albans, Vermont.”I am…
White House trade advisor Peter Navarro brushed off concerns Wednesday about the unexpected drop in U.S. gross domestic product last quarter, saying, ‘We really like where we’re at now,” and pointing to a surge in new domestic investment.”I got to say just one thing about today’s news, that’s the best negative print I have ever seen in my life,” Navarro said on CNBC’s “Squawk on the Street” after the Commerce Department reported that GDP fell at a 0.3% annualized pace in the first quarter of 2025.”The markets need to, like, look beneath the surface of that” figure, said Navarro, an ardent…
