The tech giants said they can resume selling high-end semiconductors to China, in what appears to be a major about-face for the Trump administration.
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Tuesday is turning out to be super-busy: JPMorgan Chase released earnings that crushed estimates. Nvidia shares are jumping, too, on news that it will resume selling its H20 chips in China. (We wonder: What changed about the national-security concerns over such sales, or is this part of the tariff negotiations?) We dive into what Mark Zuckerberg’s A.I. plans might really be about. And C.P.I. data will hit the tape shortly.
The chipmaking giant Nvidia is soaring in premarket trading on Tuesday, lifting S&P 500 and Nasdaq futures, too.
Why? The company said on Monday that it had scored a key concession from the Trump administration: resumed sales of H20 semiconductors to China, despite concerns that access to these advanced chips could help Beijing’s military and the artificial intelligence industry.
Shares in AMD, a rival chipmaker, were gaining, too, on a report that it had the green light to sell its MI308 to Chinese customers again.
It could be a huge victory for Jensen Huang, Nvidia’s C.E.O. He met with Trump in recent days as he leaned on the administration to lift tech trade restrictions on China. The Trump and Biden administrations had severely limited Nvidia’s ability to sell high-end chips to China, a key market.
