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The Major Supreme Court Cases of 2024No Supreme Court term in recent memory has featured so many cases with the potential to transform American society. In 2015, the Supreme Court limited the sweep of the statute at issue in the case, the Sarbanes-Oxley Act of 2002. In 2023, the Supreme Court temporarily blocked efforts to severely curb access to the pill, mifepristone, as an appeal moved forward. A series of Supreme Court decisions say that making race the predominant factor in drawing voting districts violates the Constitution. The difference matters because the Supreme Court has said that only racial gerrymandering may be challenged in federal court under the Constitution.

Persons: Donald J, Trump, Anderson, Sotomayor Jackson Kagan, Roberts Kavanaugh Barrett Gorsuch Alito Thomas, Salmon, “, ”, Mr, Nixon, Richard M, privilege.But, Fitzgerald, Vance, John G, Roberts, Fischer, Ruth Bader Ginsburg, Clarence Thomas, Samuel A, Alito Jr, Alito, ’, Moyle, Wade, Roe, Johnson, Robinson, Moody, Paxton, Robins, Media Murthy, Sullivan, Murthy, Biden, Harrington, Sackler, Alexander, Jan, Raimondo, ” Paul D, Clement, Dodd, Frank, Homer, Cargill Organizations: Harvard, Stanford, University of Texas, Trump, Liberal, Sotomayor Jackson Kagan Conservative, Colorado, Former, Trump v . United, United, Sarbanes, Oxley, U.S, Capitol, Drug Administration, Alliance, Hippocratic, Jackson, Health, Supreme, Labor, New York, Homeless, Miami Herald, Media, Biden, National Rifle Association, Rifle Association of America, New York State, Purdue Pharma, . South Carolina State Conference of, Federal, Loper Bright Enterprises, . Department of Commerce, Chevron, Natural Resources Defense, ”, SCOTUSPoll, Consumer Financial, Community Financial Services Association of America, Securities, Exchange Commission, Exchange, Occupational Safety, Commission, Lucia v . Securities, Federal Trade Commission, Internal Revenue Service, Environmental Protection Agency, Social Security Administration, National Labor Relations Board, Air Pollution Ohio, Environmental, Guns Garland, Alcohol, Tobacco, Firearms, Explosives, National Firearms, Gun Control Locations: Colorado, Trump v . United States, United States, Nixon, Florida, Gulf of Mexico, Dobbs v, Idaho, Roe, Texas, States, New, New York, Grants, Oregon, . California, Martin v, Boise, Boise , Idaho, Missouri, Parkland, Fla, Murthy v . Missouri, . Missouri, ., South Carolina, Alabama, SCOTUSPoll, Lucia v, Western

☆ Commerce Secretary Raimondo: U.S. set to become a major hub of leading-edge logic chip manufacturing
▼ + stars: | 2024-02-26 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

"Our investments in leading-edge logic chip manufacturing will put this country on track to produce roughly 20% of the world's leading-edge logic chips by the end of the decade," Raimondo said during a speech at the Center for Strategic and International Studies. "It takes tens of thousands of leading-edge semiconductor chips to train a single large language model." The Taiwan Semiconductor Manufacturing Company, which manufactures chips for companies such as Apple and Nvidia , is currently the world's largest, most advanced contract chip maker. Chinese chipmaker Semiconductor Manufacturing International Corporation appears to have defied U.S. sanctions in recent months by manufacturing advanced chips and is preparing to produce five nanometer chips for technology corporation Huawei. "At the outset, we said we would invest about $28 billion of the program's $39 billion in incentives for leading-edge chip manufacturing," Raimondo added.

Persons: Gina Raimondo, WASHINGTON —, Biden, " Raimondo, Raimondo, SMIC Organizations: Science, Technology, Washington , D.C, WASHINGTON, Center for Strategic, International Studies, U.S . Department of Commerce, McKinsey & Company, McKinsey, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, chipmaker Semiconductor Manufacturing International Corporation, Huawei, U.S, Commerce, CNBC PRO Locations: Rayburn, Washington ,, U.S, China

CHARLESTON, W.Va. (AP) — Cleveland-Cliffs announced Thursday that it is shutting down a northern West Virginia tin production facility indefinitely and plans to lay off 900 workers after the International Trade Commission voted against imposing tariffs on tin imports. The trade commission also voted to stop a duty investigation into tin products shipped from South Korea. Cleveland-Cliffs said it will offer either severance packages or opportunities for workers in Weirton to be relocated to its other facilities. The trade commission ruling was shocking and made it “impossible for us to viably produce tinplate.”Goncalves added that the trade commission’s decision “is a travesty for America, middle-class jobs, and our critical food supply chains. Cleveland-Cliffs' tin facility in Weirton was once a nearly 800-acre property operated by Weirton Steel, which employed 6,100 workers in 1994 and filed for bankruptcy protection in 2003.International Steel Group bought Weirton Steel in federal bankruptcy court in 2003.

Persons: —, Lourenco Goncalves, “, ”, ” Goncalves, ” Sen, Joe Manchin, ” Manchin, Sen, Shelley Moore Capito Organizations: Cliffs, International Trade Commission, U.S . Department of Commerce, United Steelworkers, Weirton, International Steel Group, Weirton Steel, Commerce Locations: CHARLESTON, W.Va, — Cleveland, West Virginia, Canada, China, Germany, United States, South Korea, Cleveland, Weirton, Ohio, Pittsburgh . Cleveland, America, West Virginia’s, Follansbee . Cleveland, Luxembourg, ”

BANGKOK (AP) — A Nasdaq-listed Chinese technology company that makes parts for self-driving vehicles is threatening to sue the U.S. government after it was included in a list of companies the Pentagon says have links to the Chinese military. It was among 17 companies the U.S. Department of Defense recently added to its list of companies it considers “Chinese military companies.”The revised list also includes Megvii, a Beijing-based artificial intelligence company and IDG Capital, a major private equity investment company with holdings in many Chinese technology companies, and major Chinese energy, telecoms and aviation companies. In a statement issued last week, the company said its LiDARs were not designed to conform to military specifications. Under Biden, the U.S. has further limited China’s access to advanced U.S. technology, limited U.S. investments in strategically sensitive Chinese industries and expanded sanctions on leading Chinese companies like Huawei Technologies. The Defense Department periodically updates its list of now nearly four dozen Chinese military companies to counter links between Chinese military and companies and other entities that it says appear to be civilian.

Persons: Yifan “ David ” Li, Li, Joe Biden’s, Donald Trump, Biden, China’s Organizations: Pentagon, U.S . Department of Defense, IDG Capital, U.S . Department of Commerce, Beijing, Huawei Technologies, The Defense Department, Xiaomi Corp, Apple Inc, U.S ., China’s People’s Liberation Army Locations: BANGKOK, Beijing, U.S

☆ AI lobbying spikes nearly 200% as calls for regulation surge
▼ + stars: | 2024-02-02 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

The spike in AI lobbying comes amid growing calls for AI regulation and the Biden administration's push to begin codifying those rules. Until 2017, the number of organizations that reported AI lobbying stayed in the single digits, per the analysis, but the practice has grown slowly but surely in the years since, exploding in 2023. The data showed a range of industries as new entrants to AI lobbying: Chip companies like AMD and TSMC , venture firms like Andreessen Horowitz, biopharmaceutical companies like AstraZeneca, conglomerates like Disney and AI training data companies like Appen. Organizations that reported lobbying on AI issues last year also typically lobby the government on a range of other issues. In its Request for Information, the Institute specifically asked responders to weigh in on developing responsible AI standards, AI red-teaming, managing the risks of generative AI and helping to reduce the risk of "synthetic content" (i.e., misinformation and deepfakes).

Persons: OpenSecrets, Biden, ByteDance, Andreessen Horowitz, government's, — CNBC's Mary Catherine Wellons, Megan Cassella Organizations: CNBC, Spotify, Samsung, Nvidia, Big Tech, AMD, U.S . Department of Commerce's National Institute of Standards, Technology, NIST Locations: U.S

☆ A change to this one clause could be the most important part of the Fed meeting
▼ + stars: | 2024-01-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"We heard at the December meeting that no official expected to raise rates further as a baseline outcome. And we've heard that Fed officials are beginning the discussions around rate cuts," Matthew Luzzetti, Deutsche Bank's chief U.S. economist, said in an interview. Now, there's considerably more uncertainty as multiple statements from Fed officials point to a more cautious approach about declaring victory over inflation. The inflation rate judged by core personal consumption expenditures prices, a U.S. Department of Commerce measure that the Fed favors, indicates the real funds rate to be around 2.4%. Fed officials figure the long-run real rate to be closer to 0.5%.

Persons: Jerome Powell, Liu Jie, we've, Matthew Luzzetti, Luzzetti, He'll, Bill English Organizations: Federal, Washington , D.C, Xinhua News Agency, Getty, Federal Reserve, Deutsche Bank, Bank's, Fed, U.S . Department of Commerce, Yale School of Management Locations: Washington ,

☆ Is It Safe to Travel to the Bahamas? Here’s What You Need to Know.
▼ + stars: | 2024-01-30 | by ( Shannon Sims | ) www.nytimes.com time to read: +1 min

Drawn by clear turquoise waters and miles of white-sand beaches, around seven million travelers visit the Bahamas each year, but a new warning about increased violence on the island nation has raised alarm over the safety of visiting there. On Jan. 24, the U.S. Embassy in Nassau, the capital of the Bahamas, issued a security alert advising U.S. citizens “to be aware that 18 murders have occurred in Nassau since the beginning of 2024. On Jan. 26, the State Department issued a travel advisory increasing the Bahamas’ security risk assessment from Level 1 (“Exercise normal precautions”) to Level 2 (“Exercise increased caution”). Many tourism-reliant countries, including Costa Rica and the Dominican Republic, currently have Level 2 warnings, and most travelers experience safe and enjoyable vacations. The tourism industry in the Bahamas contributes around 70 percent of the nation’s gross domestic product, according to the U.S. Department of Commerce, and employs half the country’s work force.

Persons: “ Organizations: U.S, Embassy, State Department, U.S . Department of Commerce Locations: Bahamas, Nassau, Costa Rica, Dominican Republic

☆ Treasury yields fall ahead of economic growth numbers
▼ + stars: | 2024-01-25 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

ET, the yield on the benchmark 10-year Treasury note dropped 2.3 basis points to 4.1549%, while the yield on the 30-year Treasury bond slid 2.7 basis points to 4.3851%. U.S. Treasury yields fell on Thursday morning as markets await a first estimate of fourth-quarter economic growth. Wall Street will be trying to ascertain what that means for American economic growth in 2024, while the Federal Reserve will be taking the figure into account as it considers its next monetary policy move. A second major data point is due Friday in the form of December's personal consumption expenditures price index, the Fed's preferred inflation gauge. Auctions will be held Thursday for $90 billion each of 4-week and 8-week Treasury bills, along with $41 billion of 7-year notes .

Organizations: Treasury, U.S, U.S . Department, Federal Reserve Locations: U.S

BAMAKO, Mali (AP) — An unregulated gold mine collapsed late last week in Mali, killing more than 70 people, an official said Wednesday, and a search continued amid fears that the toll could rise. Artisanal miners — small-scale, informal ones — are often accused of ignoring safety measures, especially in remote areas. Political Cartoons View All 253 Images“The state must bring order to this artisanal mining sector to avoid these kinds of accidents in the future,” Berthé said. Artisanal gold mining is estimated to produce around 30 tons of gold a year, and represents 6% of Mali’s annual gold production. The country also has an estimated 2 million gold miners operating in around 300 artisanal mining sites, Pona said.

Persons: Karim Berthé, Abdoulaye Pona, ” Berthé, “, Pona Organizations: and Mining Directorate, Associated Press, Mali Chamber of Mines, Mines, International Trade Administration, U.S . Department of Commerce, of Mines Locations: BAMAKO, Mali, Kangaba district, Koulikoro, Africa’s, Bamako, “

State-owned Motor Sich is Ukraine's main manufacturer of aircraft and helicopter engines, including for some of the world's largest cargo planes. Many legacy Ukrainian defense companies will trigger "red flags" during the lengthy due diligence and compliance reviews conducted by Western defense companies, said one U.S. defense executive. A Motor Sich representative stopped by ITA's booth and spoke briefly about their company's capabilities, the spokesperson said. ROOTING OUT CORRUPTIONZelenskiy has made rebuilding Ukraine's defense and aerospace sector a top priority, which includes deeper investment in drone technology. While the talks in Washington later this week and last month's Dubai air-show contacts are potentially promising, the political realities that Western defense officials are grappling with could hinder any progress.

Persons: Gleb Garanich, Olexiy Nikiforov, Lockheed Martin, Pavlo Verkhniatsky, Volodymyr Zelenskiy, Korzh, Trump, Nikiforov, RTX, Northrop, Valerie Insinna, Joanna Plucinska, Tim Hepher, Jo Mason, Jane Merriman Organizations: Motor Sich, REUTERS, State, Sich, Reuters, Lockheed, White, U.S, Western, U.S . Department of Commerce, Dubai Air Show, Commerce Department's International Trade Administration, Boeing, Northrop Grumman, Republicans, Ukraine –, Thomson Locations: Ukrainian, Kyiv, Ukraine, WASHINGTON, Russia, China, Washington, U.S, Moscow, Zaporizhzhia, Dubai, Gaza, London

☆ U.S. export controls need to 'change constantly' even if it's tough for businesses, Secretary Raimondo says
▼ + stars: | 2023-12-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — More controls on tech exports to China will be coming as needed, despite business concerns, U.S. Commerce Secretary Gina Raimondo told CNBC in an exclusive interview. "We have to change constantly," Raimondo told CNBC's Morgan Brennan over the weekend on the sidelines of the Reagan National Defense Forum. They want a clear line in the sand," the commerce secretary said. "The truth of it is though, technology changes, China changes and we have to keep up with it." In October 2022, the U.S. Department of Commerce's Bureau of Industry and Security announced sweeping export controls that restrict the ability of companies to sell certain advanced computing semiconductors or related manufacturing equipment to China.

Persons: Gina Raimondo, Raimondo, CNBC's Morgan Brennan, " Raimondo, it's Organizations: . Commerce, CNBC, Reagan National Defense, U.S . Department of Commerce's, of Industry, Security Locations: BEIJING, China

☆ It's TikTok Shop's first Christmas, and shoppers are torn between hot deals and ethics
▼ + stars: | 2023-11-24 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +4 min

TikTok has officially launched its e-commerce service TikTok Shop in the US. The platform introduced TikTok Shop in the U.S. in September as an in-app shopping experience, capitalizing on the #TikTokMadeMeBuyIt trend. Though TikTok Shop previously faced backlash and was forced to shut down in Indonesia, consumers are increasingly trending toward buying off of social media. And 86% of Gen Z shoppers say social media influences their shopping habits, according to an ICSC report. One of those TikTok Shop enthusiasts is 29-year-old Chuck Vaughn, who called the TikTok Shop phenomenon "a gold rush."

Persons: TikTok, Pew Research Center –, Chuck Vaughn, Vaughn, he's, hashtag, Ant Duffin, Duffin Organizations: Nurphoto, Getty, Consumers, Gallup, Pew Research Center, Tennessee, CNBC, Social, U.S . Department of Commerce, Gartner Locations: U.S, Indonesia

☆ White House proposes transportation, commerce agencies handle new space regulations
▼ + stars: | 2023-11-15 | by ( Joey Roulette | ) www.reuters.com time to read: +1 min

NEW YORK, Nov 15 (Reuters) - The Biden administration on Wednesday released a long-awaited proposal to split regulatory powers over emerging private-sector space activities between the U.S. transportation and commerce departments, according to a draft legislative proposal. The plan would expand the Federal Aviation Administration's oversight of rocket launch sites on Earth to include various crewed and uncrewed activities in space, from regulating private astronaut missions to licensing commercial space stations and trips to the moon. Private space endeavors are surging in the U.S., from tourist trips to commercial refueling satellites. Yet few U.S. regulations govern those novel activities as various countries step up their presence in Earth's orbit, a borderless domain with surging spacecraft traffic. The proposed regulatory arrangement aims to keep the U.S. in compliance with a landmark space treaty requiring countries to authorize and supervise the activities of non-government entities.

Persons: Biden, Joey Roulette, Chizu Organizations: Wednesday, Federal Aviation, U.S . Department of Commerce, Thomson Locations: U.S

☆ What Wall Street can expect from key Biden-Xi meeting as U.S.-China relations remain tense
▼ + stars: | 2023-11-14 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Chinese companies, meanwhile, have accelerated in global patent holdings in the cybersecurity sector, according to a recent Nikkei report. More reassurance to Chinese investors To be sure, while these stocks continue to rally, investors in the U.S. largely remain cautious about making any trades based on expectations ahead of the Biden-Xi talks. If anything, Chinese investors could leave Wednesday with more reassurance—which China's economy desperately needs as it struggles to make a post-pandemic recovery. Chinese investors "remain concerned that the deterioration in the bilateral political relationship could have a negative impact on the Chinese economy," Matthews investment strategist Andy Rothman said. Shaun Rein of China Market Research Group told CNBC last week that the meeting "might lower down the temperature," but that he does not expect "anything meaningful" to come from it.

Persons: Joe Biden, Xi Jinping, Frederic Neumann, Neumann, Biden, Xi, Brian Gardner, Gardner, Neo Wang, Wang, Tesla, BYD, Matthews, Andy Rothman, Shaun Rein, Rein, Derek Scissors, CNBC's Organizations: HSBC, Economic Cooperation, South China Morning Post, U.S . Department of Commerce, Nikkei, Micro Devices, Intel, Nvidia, AMD, Micron, MU, Microsoft, Biden, China Market Research Group, CNBC, American Enterprise Institute Locations: China, U.S, Asia, San Francisco, Washington, Beijing, Tesla's China, Europe, South Korea, Japan

☆ Nvidia will reportedly sell new chips to China that still meet U.S. rules
▼ + stars: | 2023-11-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Tyrone Siu | ReutersBEIJING — U.S. chipmaking giant Nvidia has reportedly found a way to sell high-end chips to Chinese companies — while remaining compliant with U.S. rules aimed at curbing China's access to the tech. Nvidia is set to deliver three new chips to domestic manufacturers in the coming days, Chinese financial media Cailian Press said Thursday, citing sources. The chips — called HGX H20, L20 PCle and L2 PCle — are based on Nvidia's H100 chip, the report said. Nvidia said in a September 2022 filing the U.S. government would still allow it to develop the H100 in China. In the near term, Chinese manufacturers have no better option and they will continue to buy Nvidia's chips, while searching for replacements.

Persons: Tyrone Siu, Bo Du, Du, SemiAnalysis, Nomura, Orin Organizations: Nvidia Corporation, Reuters, Reuters BEIJING —, Nvidia, Cailian Press, WestSummit Capital Management Companies, WestSummit Capital Management, CNBC, Times, U.S . Department of Commerce, Bureau of Industry, Security Locations: Taipei, Taiwan, Reuters BEIJING, China, U.S

☆ China says it will back global consensus on AI amid tech clash with U.S.
▼ + stars: | 2023-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

The UK Government are hosting the AI Safety Summit bringing together international governments, leading AI companies, civil society groups and experts in research to consider the risks of AI, especially at the frontier of development, and discuss how they can be mitigated through internationally coordinated action. His comments were delivered at the U.K.'s AI safety summit, which officially kicked off Wednesday at Bletchley Park, England. Wu Zhaohui, China's vice minister of science and technology, said the country was willing to "enhance dialogue and communication in AI safety with all sides." That has placed significant pressure on China's generative AI developers, many of which rely on Nvidia's chips. Raimondo also said the U.S. would look to launch an AI safety institute, hot on the heels of the U.K announcing its own intentions for a similar initiative last week.

Persons: Gina Raimondo, Michelle Donelan, China Wu Zhaohui, Leon Neal, Getty, Wu Zhaohui, Raimondo Organizations: State for Science, Innovation, Technology, Science, AI, Bletchley Park, Government, U.S, Bletchley, Union, U.S . Department of Commerce, U.K Locations: BLETCHLEY, ENGLAND, China, Bletchley , England, Beijing, Bletchley Park, England, U.S . China, U.S, Bletchley

☆ China rushes to swap Western tech with domestic options as U.S. cracks down
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +10 min

China spent 1.4 trillion yuan ($191 billion) replacing foreign hardware and software in 2022, marking a year-on-year increase of 16.2%, according to IT research firm First New Voice. Two firms awarded the Harbin tenders were subsidiaries of China Electronics Corporation and China Electronics Technology Group Corporation - both heavily targeted by U.S. sanctions. The U.S. Department of Commerce, China Electronics Corporation and China Electronics Technology Group Corporation did not return requests for comment. Despite heavy spending on domestic substitution, however, foreign firms are still dominant suppliers for banking and telecoms database management. Non-Chinese companies held 90% of market share for banking database systems at the end of 2022, according to EqualOcean, a tech consultancy.

Persons: Tyrone Siu, Kendra Schaefer, Mo Jianlei, Eric Zheng, Brenda Goh, Katerina Ang Organizations: REUTERS, Companies Beijing, Reuters, New, Trivium China, Liberation Army, Tech, Chinese Academy of Sciences, BMC, U.S, Cyberspace Security, China Telecommunications Corporation, Qualcomm, U.S . Treasury, Google, Apple, China Electronics Corporation, China Electronics Technology Group Corporation, Microsoft, Adobe, China Tobacco, Microsoft Windows, Chinese Academy of Engineering, European Union Chamber of Commerce, of Commerce, Shanghai, U.S . Department of Commerce, HUAWEI, Huawei, IDC, Financial, Lenovo, HK, Beijing, Thomson Locations: Dongguan, Guangdong province, China, BEIJING, Washington, State, Beijing, Gansu province, Harbin, Xiamen, U.S, American, Shanghai

☆ Nvidia says U.S. speeded up new export curbs on AI chips
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 24 (Reuters) - Chip designer Nvidia (NVDA.O) said new U.S. export curbs on the sale of its high-end artificial intelligence chips to China came into effect on Monday as regulators advanced the deadline. The restrictions were supposed to come into play 30 days from Oct. 17 when the Biden administration unveiled measures to stop countries, including China, Iran and Russia, from receiving advanced AI chips designed by Nvidia and others. The restrictions bar exports of Nvidia's modified advanced AI chips A800 and H800 - both of which were created for the Chinese market to comply with previous export rules. The Nvidia A100, H100 and L40S chips are also impacted by the curbs.

Persons: Dado Ruvic, Nvidia, Biden, Aditya Soni, Arun Koyyur, Anil D'Silva Organizations: NVIDIA, REUTERS, Nvidia, Devices, U.S . Department of Commerce, Intel, Gaudi, Thomson Locations: China, Iran, Russia, U.S, Bengaluru

☆ U.S. chip export ban is 'great news,' says partner at Chinese tech investment fund
▼ + stars: | 2023-10-23 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

A partner at a Chinese semiconductor investment fund has welcomed the U.S. government's ban of certain advanced chip types to be exported to China, describing the move as "great news" which may stimulate a domestic ecosystem. Nvidia's H100 chip, used by AI firms in the U.S., was banned for sale in earlier U.S. government restrictions. Wang said the fund invests in semiconductor companies, including those in the AI training and autonomous vehicle sectors. One AI chip company Yang Cheng has invested in will launch its initial public offering this year, while a Shanghai-based AI chip firm is valued at more than $3 billion, Wang added, though she didn't name the firms. "We believe those kind of upstream chipmakers — they will drive, or they will play the leading role in China, and they will create their own ecosystem," Wang added.

Persons: Chloe Wang, Yang Cheng, Wang, Nvidia Organizations: U.S, CNBC's East Tech West, U.S . Department of Commerce Locations: China, Guangzhou, Nansha, U.S, Shanghai

That decision gives U.S. officials new sway over companies in the Netherlands and Japan, where some of the most advanced chip machinery is made. In particular, U.S. rules will now stop shipments of some machines that use deep ultraviolet, or DUV, technology made mainly by the Dutch firm ASML, which dominates the lithography market. Peter Wennink, the chief executive officer, said that it was “just a handful” of Chinese chip factories where the company would not be able to ship certain tools. But “it is still sales that we had in 2023 that we’ll not have in 2024,” he added. ASML’s technology has enabled leaps in global computing power.

Persons: Vera Kranenburg, ASML, “, ”, Peter Wennink, we’ll, Liesje Schreinemacher Organizations: Clingendael Institute, U.S . Department of Commerce Locations: Netherlands, Japan, U.S, China, Dutch, United States

☆ U.S. chip export ban is 'great news,' says Chinese tech investor
▼ + stars: | 2023-10-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. chip export ban is 'great news,' says Chinese tech investorChloe Wang, partner and VP at the YangCheng Fund, described the U.S. Department of Commerce export ban of Nvidia’s A800 and H800 chips to China as "great news," speaking at CNBC's East Tech West conference. YangCheng invests in semiconductors for sectors including artificial intelligence training and autonomous vehicles.

Persons: Chloe Wang, YangCheng Organizations: U.S, YangCheng, U.S . Department of Commerce, CNBC's East Tech West Locations: China

☆ Putin meets 'dear friend' Xi in Beijing. Here are the top 3 takeaways
▼ + stars: | 2023-10-18 | by ( Clement Tan | ) www.cnbc.com time to read: +7 min

Sergei Savostyanov | Afp | Getty ImagesChina President Xi Jinping and his Russian counterpart Vladimir Putin were all smiles when they met in Beijing. "Dear friend, I am very glad to see you again," Putin said in a statement ahead of his bilateral meeting with Xi Wednesday. Xi is also looking to Putin as China seeks to reinvigorate its economic foreign policy program. watch nowPutin traveled to Beijing, knowing Xi would guarantee his safety. Here are the main takeaways from the meeting, which underline why China and Russia share strong ties.

Persons: Vladimir Putin, Xi Jinping, Sergei Savostyanov, Putin, Xi, AidData, Mary, Srettha Thavisin, Viktor Orban, Dmitry Peskov, Peskov, Wang Yi, Faisal bin Farhan Al Saud, Biden, it's, Peng Liyuan Organizations: Sputnik, Forum, Afp, Getty Images China, Initiative, Xi, College of William, Moscow, European Union, EU, Rosneft, Gazprom, Tass, Soviet Union, Hamas, U.S, United, of, U.S . Department of Commerce, Getty Locations: Beijing, Ukraine, China, Russia, Thailand, Hungary, Israel, Gaza, Iran, United Nations, Saudi Arabia, Europe, U.S

☆ Citi cuts Nvidia price target on U.S. chip export restrictions to China
▼ + stars: | 2023-10-18 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Citi maintained its buy rating on Nvidia but lowered its price target to $575 from $630. The bank's lowered outlook comes after the U.S. Department of Commerce announced new export restrictions Tuesday that would curb the sale of more advanced artificial intelligence chips to China. The move will restrict the export of Nvidia's A800 and H800 chips as the federal government attempts to further tighten last year's restrictions on AI chip exports. Malik lowered his full-year 2025 earnings per share by 0.3% to reflect lowered China exposure with Nvidia's GeForce RTX 4090 graphics cards. Morgan Stanley analyst Joseph Moore lowered his target by $30 to $600 on the back of the new export controls.

Persons: Atif Malik, Malik, Morgan Stanley, Joseph Moore, Moore, — CNBC's Michael Bloom Organizations: Citi, Nvidia, U.S . Department of Commerce, NVIDIA, federal, United Arab Locations: China, Saudi Arabia, United Arab Emirates, Vietnam

☆ U.S. curbs export of more AI chips, including Nvidia H800, to China
▼ + stars: | 2023-10-17 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

The U.S. Department of Commerce announced Tuesday that it plans to prevent the sale of more advanced artificial intelligence chips to China in the coming weeks. Those earlier restrictions banned the sale of the Nvidia H100, which is the processor of choice for AI firms in the U.S. such as OpenAI. The new rules will ban those chips as well, senior administration officials said in a briefing with reporters. Other rules will likely hamper the sale and export to China of semiconductor manufacturing equipment from companies such as Applied Materials , Lam and KLA. Companies that want to export AI chips to China or other embargoed regions will have to notify the U.S. government.

Persons: Gina Raimondo, They're, Raimondo, " Raimondo, — CNBC's Kristina Partsinevelos Organizations: Nvidia, U.S . Department of Commerce, Broadcom, Marvell, AMD, Intel, KLA, U.S, CNBC, . Commerce, ., Commerce Department Locations: Santa Clara , California, China, U.S, Macao, United States

☆ Nvidia shares dip after U.S. announces new curbs on AI chip exports to China. How to play the stock
▼ + stars: | 2023-10-17 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the latest reactions on Nvidia from investors and analysts after the U.S. Department of Commerce said Tuesday that it plans to restrict the export of some artificial intelligence chips to China , including Nvidia's H800 chips . Additionally, the announcement led to several other semiconductor stocks slipping. Those names include Broadcom , Marvell Technology , Advanced Micro Devices and Intel . Nvidia closed the trading session down 4.7% and is currently held in Jim Cramer's Charitable Trust portfolio.

Persons: Jim Cramer's Organizations: U.S . Department of Commerce, Broadcom, Marvell Technology, Devices, Intel, Nvidia, Trust Locations: China

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