Nvidia CEO Jensen Huang has already ascended to rockstar status within the tech community. Now, after securing Washington’s approval to restart AI chip sales in China, Nvidia investors are wondering: Is there anything he can’t do? “Jensen is a salesman, as well as a statesman, as well as an architect, as well as an engineer, as well as a genius,” Jim Cramer said Wednesday morning on CNBC. “He knows he has to tell the story.” Huang has been telling the same story since April, when the Trump administration tightened Biden-era rules: Locking Nvidia out of the Chinese AI market —…
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Elon Musk announced his new company xAI which he says has the goal to understand the true nature of the universe. Jaap Arriens | Nurphoto | Getty ImagesOpposition to xAI’s supercomputer facility in Memphis, Tennessee, intensified on Wednesday after environmental and civil rights groups filed to appeal a permit that allows the company to run natural gas-burning turbines to power its massive data center.When xAI, which is run by Elon Musk, first set up in Memphis last year, the artificial intelligence startup said the turbines it installed initially were temporary and too small to require permits. The company categorized them as…
A worker arc welds a metal door at the Metal Manufacturing Co. facility in Sacramento, California, U.S., on Tuesday, May 27, 2025. David Paul Morris | Bloomberg | Getty Images No one likes being the person who goes “but actually…”. Sometimes, however, it is necessary.The U.S. producer price index in June was flat, meaning that wholesale prices remained stagnant from May to June. This might suggest that U.S. President Donald Trump’s tariffs are hitting the economy less than feared, in contrast to what the uptick in June’s consumer price index suggested.But actually, the PPI measures prices at the level of…
Hello, this is Spriha Srivastava, CNBC International’s executive editor, writing from London. This week, I look into Elon Musk’s relationship with India, why it’s finally moving from talk to action, and what’s really at stake.This report is from this week’s CNBC’s “Inside India” newsletter. Like what you see? You can subscribe here.The big storyIndia has long been on Elon Musk’s radar. But for years, the relationship mostly played out in headlines and half-starts.Remember 2024? Musk was all set to fly into New Delhi to meet Prime Minister Modi — until he canceled at the last minute and popped up in Beijing…
Volvo vehicles seen outside a Volvo dealership in Edmonton, AB, Canada, on February 02, 2025.Nurphoto | Nurphoto | Getty ImagesSweden-based automaker Volvo Cars plans to change tack in the U.S. as Washington’s trade tariffs take their toll.Volvo Cars, which is owned by China’s Geely Holding, on Thursday reported that second-quarter operating profit excluding items affecting comparability fell to 2.9 billion Swedish kronor ($297.83 million), down from 8 billion during the same time last year.Second-quarter revenue dropped to 93.5 billion kronor, compared to 101.5 billion kronor over the same period in 2024.Volvo Cars, which is widely considered as one of the…
TOPSHOT – China’s Premier Li Qiang delivers his speech during the ASEAN – Gulf Cooperation Council (GCC) – China Economic Forum official dinner after the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur on May 27, 2025. Vincent Thian | Afp | Getty Images Chinese Premier Li Qiang has called for tighter pricing regulation in the electric car sector during a high-level meeting Wednesday, as Beijing sought to rein in the cut-throat price wars that are fueling deflationary pressures in the economy.In singling out the country’s electric-vehicle sector, Li urged strengthened cost oversight and price monitoring. He…
Private equity firm EQT triples deal exits to 13 billion euros in 2025Europe’s largest private equity EQT said it had divested 13 billion euros’ ($15.05 billion) worth of investments in the first half of the year — three times as much as in the same period of last year.The Sweden listed fund said it sold down stakes in Swiss dermatological products maker Galderma and exited a position through the IPO of mortgage provider Enity on the Stockholm exchange.Headwinds from geopolitical tension, volatility in public markets and uncertain macroeconomic indicators had led to a steep drop in exits for PE firms…
A motorcycle is seen near a building of the Taiwan Semiconductor Manufacturing Company (TSMC), which is a Taiwanese multinational semiconductor contract manufacturing and design company, in Hsinchu, Taiwan, on April 16, 2025. Daniel Ceng | Anadolu | Getty ImagesTaiwan Semiconductor Manufacturing Company on Thursday reported a near 61% year-on-year rise in second-quarter profit, beating estimates and hitting a fresh high as demand for artificial intelligence chips stays strong. Here are TSMC’s first-quarter results versus LSEG SmartEstimates:Revenue: 933.80 billion New Taiwan dollars ($31.7 billion), vs. NT$931.24 billion expectedNet income: NT$398.27 billion, vs. NT$377.86 billion TSMC’s net revenue in the June quarter rose 38.65%…
Traders work at the New York Stock Exchange on July 15, 2025. NYSEU.S. stock futures ticked lower on Thursday morning. The moves follow a winning day after President Donald Trump denied that he was planning to fire Jerome Powell from his position as Federal Reserve chairman.Futures tied to the Dow Jones Industrial Average fell 68 points, or 0.15%. S&P 500 futures and Nasdaq 100 futures both dipped about 0.2%.During Wednesday’s regular session, the S&P 500 gained 0.32%, while the Nasdaq Composite added 0.26%. The 30-stock Dow rose 231.49 points, or 0.53%.Stocks initially fell after a White House official said that…
U.S. hyperscalers Meta and Alphabet ‘s Google are rolling out a fast-growing web of transcontinental subsea cables, looking to keep pace with ever-increasing bandwidth demand and artificial intelligence workloads. Submarine cables are the backbone of the world’s internet and telecommunications infrastructure, enabling everything from international phone calls to financial transactions. While satellites play a complementary role, these largely unseen data super-highways carry the vast majority of global internet traffic. By some estimates , as much of 95% of international traffic passes through fiber-optic cables across the ocean floor. Subsea cables have typically been the domain of telecom giants and state-backed…
