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🚀 Nvidia and AMD to pay US government for Chinese sales
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In a rare deal with the White House, Nvidia and AMD have agreed to give the U.S. government 15% of revenues from sales of two advanced AI chips, the Nvidia H20 and AMD MI308, in China, securing export licenses amid tightening trade restrictions. The arrangement, reached after Nvidia CEO Jensen Huang met with President Donald Trump last week, carves out an exception to Trump’s aggressive semiconductor trade stance, which recently included threats of a 100% tariff on imported chips not made in the U.S. The move highlights the administration’s willingness to use selective licensing as leverage in the broader tech and trade battle, allowing the companies to retain a foothold in the Chinese market while funnelling a portion of those proceeds back to Washington.
Ukrainian President Volodymyr Zelenskyy rejected President Donald Trump’s suggestion that Ukraine could “swap” territories with Russia as part of a ceasefire, declaring that Ukrainians “will not give their land to the occupier” and citing the country’s constitution. His comments came ahead of Trump’s planned meeting with Russian President Vladimir Putin in Alaska next Friday, where Trump hinted at possible territorial exchanges “to the betterment of both.” Russia’s demands reportedly include Ukraine ceding annexed territories and adopting permanent neutrality, conditions Kyiv has long refused. While the White House seeks support from Ukraine and European allies, Zelenskyy warned that any deal made without Ukraine would be “against peace.” The Alaska summit will be Trump and Putin’s first meeting since the invasion began, but analysts doubt it will produce a decisive breakthrough. Meanwhile, Russian forces continue their slow advance, with overnight drone strikes killing two and injuring six in Kherson.
President Donald Trump’s rollback of electric vehicle incentives and emissions rules is forcing U.S. automakers to rethink strategies, shift spending, and brace for lost revenue from regulatory credits. Tesla’s Elon Musk warned of “a few rough quarters” as the $7,500 EV tax credit and other subsidies vanish after Sept. 30, slowing rollout of its lower-cost model, while CFO Vaibhav Taneja noted the loss of a once-lucrative regulatory credit market. GM CFO Paul Jacobson expects a short-term EV sales rush before demand cools but minimal overall 2025 impact, citing GM’s flexibility from its mix of gas and electric models. Ford CEO Jim Farley said the company is delaying EV launches, canceling products, and pivoting to hybrids, with CFO Sherry House hinting at shifting some EV production abroad. Rivian cut its 2025 regulatory credit sales outlook nearly in half, with CEO Robert Scaringe seeing near-term cash hits but potential for less long-term EV competition.
Headlines
Donald Trump has stated a plan to remove homeless individuals from Washington, D.C. and relocate them to shelters elsewhere.
Masayoshi Son is moving a significant portion of SoftBank’s investments into AI, putting the company at the center of the industry and risking its financial viability on the commercialization of AI-related technologies.
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