All articles tagged with #us tech
Nvidia announced a $5 billion investment in Intel, aiming to collaborate on AI infrastructure and PC chips, marking a significant partnership to advance computing technology amid Intel's struggles and the AI boom, with regulatory approval pending.
U.S. tech companies and the Trump administration are engaging with the UK to encourage the reduction of digital service taxes and improve trade relations, viewing investments as a diplomatic gesture while opposing digital tax policies that could hinder innovation and impact a potential trade deal.
French President Macron is urging the EU to target US Big Tech companies following a new tariff threat from Trump, amidst ongoing political and financial turmoil in France related to government spending and budget deficit issues.
While Amazon has been a dominant force in the tech industry, a different stock market bellwether is raising concerns for the US tech sector. The stock market indicator, which has historically been a reliable predictor of tech sector performance, is flashing red, suggesting potential trouble ahead for tech stocks.
Asian shares were subdued as Tesla and Netflix earnings reports failed to impress, while the dollar and Treasury yields held gains ahead of upcoming meetings by the U.S. Federal Reserve, European Central Bank, and Bank of Japan. Concerns over the health of Chinese property developers and the weakening yuan added to market unease. The Nasdaq fell 2% on Wall Street, driven by post-earnings plunges in Tesla and Netflix. An unexpected fall in U.S. jobless claims fueled expectations for a strong payrolls report, increasing the likelihood of a second interest rate increase by the Fed. Oil prices rose, while gold prices remained flat.
The ongoing chip wars between the US and China could cause "enormous damage" to American technology, according to Nvidia CEO Jensen Huang. He warned that the US risks falling behind in the global tech race if it doesn't invest in its own semiconductor industry. The comments come amid growing tensions between the two countries over trade and technology, with the US government imposing sanctions on Chinese tech firms such as Huawei and TikTok.