🚀 Nvidia Monopoly Investigation

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Nvidia shares fell 3% after China's State Administration for Market Regulation launched an antimonopoly investigation into the company's 2020 acquisition of Mellanox, citing alleged violations tied to the deal. The probe adds to escalating U.S.-China tensions over semiconductor dominance, as the U.S. recently tightened restrictions on selling advanced AI chips to China to limit its military development. Nvidia, whose shares have surged nearly 188% this year amid booming AI demand, has sought to comply with U.S. regulations by developing alternative products for the Chinese market.

2. President-elect Donald Trump's proposed mass deportations of undocumented immigrants threaten a labor market that has leaned on foreign-born workers to fill critical roles in construction, agriculture, technology, and healthcare. Immigrants, comprising 18.6% of the workforce, have been vital to post-pandemic economic recovery, and economists warn deportations could shrink 2025 GDP by up to $110 billion while increasing labor costs and inflation. Industries like agriculture, heavily reliant on immigrant labor, advocate for immigration reforms to address workforce shortages, while California is preparing legal defenses against federal overreach, emphasizing the economic and cultural significance of its immigrant population.

3. Eric Trump expressed optimism about cryptocurrency during a CNBC interview in Abu Dhabi, declaring his father’s intent to make the U.S. the global crypto capital as bitcoin surpassed $100,000 for the first time. He emphasized the need for clear regulatory guidelines to foster industry growth, replacing the SEC’s current enforcement-heavy approach under Gary Gensler. Eric praised decentralized finance as the financial future and highlighted his family’s support for innovation. Bitcoin has since dipped slightly below six figures, trading near $99,800.

4. Headlines

   1. Tim Kuniskis is returning to Stellantis less than a year after his retirement following the sudden departure of CEO Carlos Tavares.

   2. Reddit is testing AI-powered answers in an attempt to increase engagement on the site.

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