
The Impact of Chip Wars: A Bite into the Tech Industry
The chip wars between the US and China are starting to have an impact on major tech players. Dutch chip equipment firm ASML believes geopolitical tensions and restrictions will not affect its 2023 financial results, but its earnings performance is suffering due to weak global demand for chips. On the other hand, Nvidia warned of a significant sales hit in the fourth quarter due to export restrictions, particularly in China. The company's shares fell after it delayed a new AI chip designed for China to comply with US export restrictions. Meanwhile, Black Friday e-commerce spending in the US reached a record $9.8 billion, and the Miami Dolphins vs. New York Jets game was exclusively streamed on Amazon Prime Video, signaling trouble for traditional TV. Additionally, 17 hostages held by Hamas in Gaza were released, bringing the total number of freed hostages to 41. Lastly, seed improvement is emerging as an area to watch in the plant-based food space as weight-loss drugs gain popularity and scientists evaluate how to feed a growing population.







