Lisa Su, CEO of AMD, attends the Artificial Intelligence Action Summit at the Grand Palais in Paris, Feb. 10, 2025.Benoit Tessier | ReutersShares of Advanced Micro Devices slid more than 5% on Wednesday after the company said it could incur charges of up to $800 million for exporting its MI308 products to China and other countries.”The Company expects to apply for licenses but there is no assurance that licenses will be granted,” AMD said in the filing with the Securities and Exchange Commission.The new U.S. license requirement, which applies to exports of certain semiconductor products, would hit inventory, purchase commitments…
Author: usaeverydaylife
Nvidia CEO Jensen Huang delivers the keynote for the Nvidia GPU Technology Conference at the SAP Center in San Jose, California, on March 18, 2025.Brittany Hosea-small | ReutersTechnology stocks declined Wednesday, led by a 5% drop in Nvidia, as the chipmaking sector signaled that President Donald Trump’s sweeping tariff plans could hamper demand and growth.Nvidia revealed in a filing Tuesday that it will take a $5.5 billion charge tied to exporting its H20 graphics processing units to China and other countries and said that the government will require a license to ship the chips there and other destinations.The chip was…
A person uses an ATM at a Chase bank in New York City on November 19, 2024. Charly Triballeau | AFP | Getty ImagesJPMorgan Chase this week began suing more customers it has accused of stealing funds from the nation’s largest bank in last year’s so-called “infinite money glitch.”The bank is now going after customers who allegedly stole amounts below $75,000, which means it is filing complaints in state courts, instead of the federal venues it chose last year, according to a person with knowledge of the company’s deliberations.The glitch, which went viral in late August in videos posted to social…
Nvidia ‘s China problem reared its head once again, underscoring why Jim Cramer said this week that the AI chipmaker’s stock has been difficult to own during the second Trump administration. In a securities filing Tuesday night, Nvidia said the U.S. government will require the company to obtain an export license to ship its H20 artificial intelligence chips to China. The requirement will be “in effect for the indefinite future,” Nvidia said. Accordingly, the company said it will book a $5.5 billion charge in its fiscal 2026 first quarter, which ends this month, tied to H20 inventory, purchase commitments, and…
In this photo illustration, a double exposure images shows U.S. President Donald Trump against the EU flag.Sopa Images | Lightrocket | Getty ImagesThe European Union is preparing for more tariffs from the United States, despite conversations with the U.S. President Donald Trump’s administration earlier this week.It’s been an intense back-and-forth over the past few months, with Trump accusing the EU of being among the worst culprits in its trade treatment of the U.S.Tensions have been heating in recent weeks. With its steel and aluminum subject to Washington’s broader tariffs, the EU retaliated with duties worth more than 20 billion euros…
Cargo ships and containers at Qingdao port in eastern China’s Shandong province on Dec. 4, 2024.Stringer | Afp | Getty ImagesThe World Trade Organization (WTO) warned on Wednesday that the outlook for global trade has “deteriorated sharply” in the wake of U.S. President Donald Trump’s tariffs regime.”The outlook for global trade has deteriorated sharply due to a surge in tariffs and trade policyuncertainty,” the WTO said in its latest “Global Trade Outlook and Statistics” report out Wednesday.Based on the tariffs currently in place, and including a 90-day suspension of “reciprocal tariffs,” the volume of world merchandise trade is now expected…
Check out the companies making headlines in premarket trading. Nvidia — Shares slipped more than 6% after the chipmaker said it will take a quarterly $5.5 billion charge tied to exporting H20 graphics processing units to China, as well as other destinations. Nvidia said in a filing that the U.S. government informed the company it would require a license to export the chips to China and several other countries. J.B. Hunt Transport Services — The transportation stock pulled back 6% despite beating analyst estimates on the top and bottom line in the first quarter . However, J.B. Hunt’s reported a…
Uncertainty around President Donald Trump’s tariffs and brewing recessionary fears may put pressure on Target in the near term, according to Goldman Sachs. The firm downgraded the retailer to neutral from buy and slashed its price target to $101 from $142. The updated target implies more than 9% upside from Tuesday’s close. That reduced upside potential comes as the stock has already faced sizable declines this year, seeing a year-to-date loss of almost 32%. Shares have also slid more than 12% in the past month, coming on the heels of CEO Brian Cornell saying back in early March that the…
Retail sales were expected to increase 1.2% in March, according to the Dow Jones consensus.This is breaking news. Please refresh for updates.Get Your Ticket to Pro LIVEJoin us at the New York Stock Exchange!Uncertain markets? Gain an edge with CNBC Pro LIVE, an exclusive, inaugural event at the historic New York Stock Exchange.In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12.Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles, and Dan Ives, with a special…
Trade tensions between the world’s two largest economies have escalated in the last two weeks.Dilara Irem Sancar | Anadolu | Getty ImagesThis report is from this week’s edition of CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore the biggest business stories in China, give a lowdown on market moves and help you set up for the week ahead. Like what you see? You can subscribe here.The big storyThe last time Donald Trump and Chinese President Xi Jinping spoke was just before the January 20 U.S. presidential inauguration.Less…
