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☆ Commerce chief says US firms complain China is 'uninvestible'
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +5 min

[1/4] U.S. Commerce Secretary Gina Raimondo and Chinese Premier Li Qiang have a light moment during a meeting at the Great Hall of the People in Beijing, China, August 29, 2023. "Increasingly I hear from American business that China is uninvestible because it's become too risky," she said. Raimondo insists the United States does not want to decouple from China. The United States and China used to be each other's largest trading partners but Washington now trades more with neighbors Canada and Mexico, while Beijing deals more with Southeast Asia. Reuters Graphics Reuters Graphics"All of that creates uncertainty and unpredictability," Raimondo said of recent Chinese actions.

Persons: Gina Raimondo, Li Qiang, Andy Wong, Raimondo, it's, Biden, John Ramig, Buchalter, Raimondo's, Mintz, JP Morgan, " Raimondo, David Shepardson, Joe Cash, Samuel Shen, Clarence Fernandez, Angus MacSwan, Mark Heinrich, Jonathan Oatis, Nick Macfie Organizations: . Commerce, of, People, REUTERS Acquire, Rights, U.S, chipmaker Micron Technology, Beijing, Companies, Micron, Intel, Boeing, Reuters Graphics Reuters, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Washington, United States, U.S, Canada, Mexico, Southeast Asia

☆ In China, Raimondo says US will prioritise national security, does not seek decoupling
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Andy Wong/Pool via REUTERS/ Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - The United States will put national security concerns first but does not seek to decouple from China, Commerce Secretary Gina Raimondo told China's Vice Premier He Lifeng at a meeting on Tuesday. "While we will never compromise in protecting our national security, I want to be clear that we will never seek to decouple or hold China's economy back," Raimondo said during opening remarks in Beijing's Great Hall of the People. A confidant of President Xi Jinping, He took up the post of China's economy tsar in March, having earlier run the powerful state planner. Earlier on Tuesday, Raimondo and Tourism Minister Hu Hepin agreed to hold the 14th China-U.S. Tourism Leadership Summit in China in the first half of 2024. Such an exchange offered a platform to reduce misunderstandings of U.S. national security policies, Raimondo said on Monday, but added, "We are not compromising or negotiating on matters of national security.

Persons: Gina Raimondo, Andy Wong, Biden, " Raimondo, Xi Jinping, Liu, Raimondo, Hu Hepin, Walt Disney, Matthew Axelrod, Xie Feng, Wang Wentao, Xie, Wang, David Shepardson, Joe Cash, Clarence Fernandez Organizations: . Commerce, of, People, REUTERS, Rights, Harvard, U.S . Tourism Leadership Summit, Commerce Department, United, Walt, Shendi, Twitter, Intel, Micron, Thomson Locations: Beijing, China, Rights BEIJING, United States, decouple, Beijing's, U.S, Seattle, Shanghai, Washington

☆ US companies in China struggle with raids, slow deal approvals, anti-espionage law
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +3 min

[1/2] U.S. Commerce Secretary Gina Raimondo delivers her speech at a reception with U.S. Industry and Chinese Government Officials hosted by U.S. Ambassador to China Nick Burns, in Beijing, China, August 28, 2023. Below are details on some of the bigger hurdles for doing business in China in recent years. Counterespionage law:Chinese lawmakers passed a wide-ranging update to Beijing's anti-espionage legislation in April, banning the transfer of any information related to national security and broadening the definition of spying. The law does not define what falls under China's national security or interests.

Persons: Gina Raimondo, China Nick Burns, Andy Wong, Mintz, Raimondo, Chris Sanders, Jonathan Oatis Organizations: . Commerce, . Industry, Government, U.S, REUTERS Acquire, Rights, Bain, Capvision Partners, Beijing Municipal Bureau, Statistics, China's, Intel Corp, chipmaker Semiconductor, DuPont De Nemours Inc, Rogers Corp, Xinhua, chipmaker Micron Technology, Beijing, Thomson Locations: China, Beijing, Shanghai, United States

☆ US commerce chief meets Chinese premier in Beijing
▼ + stars: | 2023-08-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/3] U.S. Commerce Secretary Gina Raimondo and Chinese Vice Premier He Lifeng head to their seats for a meeting at the Great Hall of the People in Beijing, China, Tuesday, August, 29, 2023. Andy Wong/Pool via REUTERS/ Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - U.S. Commerce Secretary Gina Raimondo met China's Premier Li Qiang in Beijing on Tuesday, her second full day of talks with top Chinese leaders on balancing business ties and national security concerns. Earlier on Tuesday, Raimondo told China's economy tsar and her direct counterpart, He Lifeng, that the U.S. does not seek to decouple from its geopolitical rival. A confidant of President Xi Jinping, He took up the post of China's economy tsar in March, having earlier run the powerful state planner. Such an exchange offered a platform to reduce misunderstandings of U.S. national security policies, Raimondo said on Monday, but added, "We are not compromising or negotiating on matters of national security.

Persons: Gina Raimondo, Andy Wong, China's, Li Qiang, Raimondo, Biden, Xi Jinping, Liu, Hu Hepin, Walt Disney, Matthew Axelrod, Xie Feng, Wang Wentao, Xie, Wang, David Shepardson, Joe Cash, Clarence Fernandez Organizations: . Commerce, of, People, REUTERS, Rights, Harvard, U.S . Tourism Leadership Summit, Commerce Department, United, Walt, Shendi, Twitter, Intel, Micron, Thomson Locations: Beijing, China, Rights BEIJING, U.S, Seattle, United States, Shanghai, Washington

☆ Ampere says flagship chip to be offered by Google Cloud
▼ + stars: | 2023-08-29 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

Aug 29 (Reuters) - Ampere Computing, a semiconductor firm headed by ex-Intel executives that is planning to list its shares publicly, said on Tuesday its flagship chips will be offered by Alphabet's (GOOGL.O) Google Cloud service. The deal is significant because cloud computing firms such as Google are some of the biggest buyers of data center chips. Jeff Wittich, Ampere's chief product officer, said more deals with other cloud providers will follow later this year, but he declined to name them. Ampere's chips use technology from SoftBank Group's (9984.T) Arm, which revealed earlier this month in initial public offering filings that it owns a 6.8% stake in Ampere. Ampere's chips aim to use less energy than rival chips from Intel while doing similar kinds of computing work.

Persons: Jeff Wittich, SoftBank Group's, Wittich, Stephen Nellis, Paul Simao Organizations: Ampere Computing, Intel, Alphabet's, Google, Oracle, Amazon.com, Thomson Locations: San Francisco

☆ Russia more than doubled salaries of some soldiers but is still struggling to recruit people to fight in Ukraine, UK intel says
▼ + stars: | 2023-08-29 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Russia, which has struggled to recruit soldiers, likely still won't get as many as it wants, the MoD said. Russia has done one major mobilization of fighters since the invasion began, declaring a "partial mobilization" of 300,000 reservists in September. It said in May that Russia likely wants to delay the announcement of any obvious mandatory mobilization "to minimize domestic dissent." And it said Russia was focusing on recruiting Central Asian migrant workers that are in Russia to go and fight in Ukraine. AdvertisementAdvertisementRussia also tried to recruit from neighboring country Kazakhstan, offering a sign-on bonus of 495,000 rubles, which is around $5,200.

Persons: Vladimir Putin, Putin Organizations: UK's Ministry of Defence, MoD, Service, UK Ministry of Defence, Russian Armed Forces, Russian, Central Locations: Ukraine, Russia, Wall, Silicon, Kazakhstan

☆ 'Absolutely formidable': Analyst names her top chipmaker and explains why it has the edge
▼ + stars: | 2023-08-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

South Korean giant Samsung Electronics has an edge over other semiconductor companies, according to Hannah Gooch-Peters of asset management firm Sanlam Investments UK. Semiconductor firms have "to massively invest," Gooch-Peters said. Samsung produces dynamic random access memory chips and NAND chips. And you know … if you've got generative AI you need these memory chips to be able to use it," she added. It also has its very stable smartphone business, Gooch-Peters said.

Persons: Hannah Gooch, Peters, Gooch, Samsung's, it's, you've Organizations: Samsung Electronics, Sanlam Investments, CNBC, Semiconductor, Samsung, Taiwan Semiconductor, Qualcomm, Tesla, Intel, Sony, Korea Exchange, London Stock Exchange, Luxembourg Stock Exchange, Korea ETF, BetaShares Asia Technology Tigers Locations: Korea, Asia

☆ Intel says new 'Sierra Forest' chip to more than double power efficiency
▼ + stars: | 2023-08-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

At a semiconductor technology conference held at Stanford University in Silicon Valley, Intel said its "Sierra Forest" chip will have 240% better performance per watt than its current generation of data center chip, the first time the company has disclosed such figures. That has pushed chip companies to focus on how to get more computing work done per chip. Ampere Computing, a startup founded by ex-Intel executives, was first to market with a chip focused on handling cloud computing work efficiently. Intel, which has lost market share to AMD and Ampere in data centers, said on Monday its "Sierra Forest" chip is on track to arrive next year. The company is for the first time splitting its data center chips into two categories: A "Granite Rapids" chip that will focus on performance but consume more power, and the more efficient "Sierra Forest" chip.

Persons: Dado Ruvic, Singhal, Stephen Nellis, Bill Berkrot Organizations: REUTERS, Intel, Stanford University, Ampere Computing, Devices, AMD, Ampere, Thomson Locations: Silicon Valley, San Francisco

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, to be released on Thursday, and non-farm payrolls data due on Friday. According to preliminary data, the S&P 500 (.SPX) gained 27.49 points, or 0.62%, to end at 4,433.20 points, while the Nasdaq Composite (.IXIC) gained 114.49 points, or 0.84%, to 13,705.13. Micron's and Intel's shares gained for much of the session. Horizon's shares rose.

Persons: Brendan McDermid, Goldman Sachs, Jerome Powell, Powell didn't, Ross Mayfield, Gina Raimondo, Wang Wentao, Shristi Achar, Noel Randewich, Shounak Dasgupta, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Investment, Baird, Nvidia, Creative Planning, Nasdaq, Dow Jones, JD.com, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, U.S . Federal Trade Commission, Horizon Therapeutics, Thomson Locations: New York City, U.S, China, Bengaluru, Oakland, Calif

☆ US raises concerns by Micron, Intel with China
▼ + stars: | 2023-08-28 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/3] U.S. Commerce Secretary Gina Raimondo delivers her speech at a reception with U.S. Industry and Chinese Government Officials hosted by U.S. Ambassador to China Nick Burns, in Beijing, China, August 28, 2023. Raimondo wants to address concerns from U.S. businesses that are having difficulties operating in China. Raimondo told reporters that she had discussed concerns over China's effective ban on purchases of Micron memory chips with her Chinese counterpart. Secretary Raimondo must stand up to our greatest adversary."

Persons: Gina Raimondo, China Nick Burns, Andy Wong, Wang Wentao, Raimondo, Biden, Raimondo's, Janet Yellen, Antony Blinken, Joe Biden, Marsha Blackburn, Export Enforcement Matthew Axelrod, We're, David Shepardson, Susan Heavey, Chris Sanders, Mike Harrison, Matthew Lewis Organizations: . Commerce, . Industry, Government, U.S, REUTERS Acquire, Rights, Intel, Micron Technology, Chinese Commerce, Commerce Department, Micron, Reuters, Republican, U.S . Commerce Department, Export Enforcement, Ministry of Commerce, Commerce, United, Thomson Locations: China, Beijing, Rights BEIJING, New York, Washington, Republican China, U.S, United States

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Horizon's shares rose 5.5%. Advancing issues outnumbered decliners for a 3.82-to-1 ratio on the NYSE and a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 43 new highs and 101 new lows. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Roosevelt Bowman, Gina Raimondo, Wang Wentao, Goldman Sachs, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bernstein Private Wealth Management, Traders, Fed, Nvidia, U.S, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, U.S . Federal Trade Commission, Horizon Therapeutics, Creative Planning, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ Google Flights unveils 3 new features to save money
▼ + stars: | 2023-08-28 | by ( Forrest Brown | ) edition.cnn.com time to read: +3 min

It released the most-searched destinations on Google Flights so far this year for trips departing from December 20, 2023, to January 5, 2024, from US airports. New money-saving featuresGoogle shared what you might be seeing next time you use Google Flights. Price guarantee: On some flight results, users might notice a price guarantee badge pop up (this won’t happen on every use). Popular winter holiday destinationsWarm getaways and big cities dominate the top 10 spots being searched on Google Flights. Los AngelesGoogle also said the best time to book flights for Christmas vacations is around early October.

Persons: Price, ” Organizations: CNN, Google, intel, London, Orlando, Paris, Los, Los Angeles Google, ” Google Locations: Cancun, Mexico, U.S, Miami, Fort Lauderdale, New York, Tokyo, Juan 7, Honolulu, Los Angeles

☆ US raises concerns by Micron, Intel with China as export control meeting set to launch
▼ + stars: | 2023-08-28 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Ambassador to China Nick Burns, in Beijing, China, August 28, 2023. Raimondo wants to address concerns from U.S. businesses that are having difficulties operating in China. Shares of Micron rose 3% and Intel was up 1.4% in early trading on the news, first reported by Reuters. "The United States is committed to be transparent about our export control enforcement strategy," she said. "To show you how real this is, the first meeting of that new information exchange is tomorrow in Beijing.

Persons: Gina Raimondo, China Nick Burns, Andy Wong, Wang Wentao, Raimondo, Biden, Export Enforcement Matthew Axelrod, We're, David Shepardson, Susan Heavey, Andrew Cawthorne, Mike Harrison Organizations: . Commerce, . Industry, Government, U.S, REUTERS Acquire, Rights, Intel, Micron, Chinese Commerce, Commerce Department, Micron Technology, Reuters, U.S . Commerce Department, Export Enforcement, Ministry of Commerce, Commerce, United, Chinese National Bureau of Statistics, Thomson Locations: China, Beijing, Rights BEIJING, Washington, U.S, United States

People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. The S&P 500 communication services (.SPLRCL) and technology (.SPLRCT) sectors led gains among the 11 major S&P sub-indexes, rising 1.2% and 0.8% respectively. Horizon's shares rose 5.8%. Advancing issues outnumbered decliners for a 5.47-to-1 ratio on the NYSE and a 2.95-to-1 ratio on the Nasdaq. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Stocks, Jerome Powell, Peter Andersen, Gina Raimondo, Wang Wentao, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Microsoft, Andersen Capital Management, Traders, U.S, PDD Holdings, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, Xpeng, U.S . Federal Trade Commission, Horizon Therapeutics, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

☆ US Commerce chief raised Micron, Intel with Chinese officials
▼ + stars: | 2023-08-28 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

[1/2] A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBEIJING, Aug 28 (Reuters) - U.S. Commerce Secretary Gina Raimondo said on Monday that she raised concerns about a number of U.S. business issues including Intel (INTC.O) and Micron (MU.O) with Chinese Commerce Minister Wang Wentao. Raimondo in May said the United States "won't tolerate" China's effective ban on purchases of Micron Technology (MU.O) memory chips and is working closely with allies to address such "economic coercion." Raimondo announced earlier on Monday that China had agreed to create a new formal working group on commercial issues with the United States. The new commercial issues working group is a consultation mechanism involving U.S. and Chinese government officials and private sector representatives "to seek solutions on trade and investment issues and to advance U.S. commercial interests in China."

Persons: Dado Ruvic, Gina Raimondo, Wang Wentao, Raimondo, Wang, May, David Shepardson, Jason Neely, Mark Potter Organizations: REUTERS, Rights, . Commerce, Intel, Micron, Chinese Commerce, Micron Technology, Tower Semiconductor, China's, Administration, Market, Thomson Locations: Rights BEIJING, China, United States

☆ Do you have ‘gymtimidation’? Here’s how to fix it
▼ + stars: | 2023-08-27 | by ( Faye Chiu | Melanie Radzicki Mcmanus | ) edition.cnn.com time to read: +6 min

Maybe it’s because of what you’re wearing, a lack of fitness or uncertainty about how a group class will operate. These negative feelings — dubbed “gymtimidation” — are real, and they can prevent you from achieving your fitness goals. In addition, exercise is a powerful force in combating stress, anxiety and depression — a real irony when it comes to the issue of gymtimidation. “Gym anxiety affects people who are young, old, male and female,” said Brookelyn Suddell, director of group fitness strategy and development for Crunch Fitness in New York City. Once you’ve identified your fears and concerns, see if one or more of these options, shared by Nitschke and Suddell, help alleviate them.

Persons: You’re, —, That’s, ”, Brookelyn Suddell, Erin Nitschke, “, Nitschke, Suddell, ” Suddell, you’re, you’ve, there’s, ” Melanie Radzicki McManus Organizations: CNN, Crunch Fitness, Laramie County Community College, CNN’s, intel Locations: New York City, Laramie, Cheyenne , Wyoming

☆ CNBC Daily Open: Jackson Hole fears overshadow Nvidia
▼ + stars: | 2023-08-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rally fizzles outU.S. stocks closed lower Thursday as an earlier Nvidia-sparked rally fizzled out, while Treasury yields climbed higher. Low trading volumes, economic weakness in China and high Treasury yields are all contributing to the August sell-off, writes CNBC's Fred Imbert. This ETF, however, consists of just one stock — and aims to deliver a 1.5-times return on a daily basis.

Persons: Jerome Powell, paring, Nvidia's, Fred Imbert, South Africa —, BRICS, it's Organizations: U.S . Federal Reserve, CNBC, Nvidia, AMD, Intel, Nasdaq, United, United Arab Emirates, Exchange Locations: Moran , Wyoming, Turkey, China, Brazil, Russia, India, South Africa, Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, United Arab

☆ CNBC Daily Open: Jackson Hole anxiety overshadows Nvidia
▼ + stars: | 2023-08-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Jerome Powell, Chair of the Federal Reserve, arrives to a dinner at the start of the Jackson Hole Economic Symposium on August 24, 2023 at Grand Teton National Park near Jackson Hole, Wyoming. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rally fizzles outU.S. stocks closed lower Thursday as an earlier Nvidia-sparked rally fizzled out, while Treasury yields climbed higher. But there are other market themes that investors should know about, according to Goldman Sachs.

Persons: Jerome Powell, paring, CNBC's Lucy Handley, Singh Puri, CNBC's Tanvir Gill, Puri, Goldman Sachs Organizations: Federal Reserve, Jackson, Grand Teton, CNBC, Nvidia, Nikkei, AMD, Intel, Petroleum, Natural Gas Locations: Jackson Hole , Wyoming, Asia, Pacific, China, Europe, India, Moscow

☆ Newly declassified US intel claims Russia is laundering propaganda through unwitting Westerners
▼ + stars: | 2023-08-25 | by ( Katie Bo Lillis | ) edition.cnn.com time to read: +5 min

Washington CNN —Russian intelligence is operating a systematic program to launder pro-Kremlin propaganda through private relationships between Russian operatives and unwitting US and western targets, according to newly declassified US intelligence. “At the end of the day, this unwitting target is disseminating Russian influence operation, Russian propaganda to their target public,” the US official said. In fact, the FSB directed his efforts and “almost certainly financed the project,” according to the declassified intelligence. The FSB does use similar tactics to influence political opinion within Russia, according to the intelligence. “The purpose of those protests really was … designed to sell it to the Russian people,” the US official said.

Persons: “, Maxim Grigoriev, Syria –, Bashar al, Assad, optees ”, Andrey Stepanenko, Natalia Burlinova, Anton Tsvetkov Organizations: Washington CNN, Russian, Russian Federal Security Service, CNN, UN, “, US, Embassy — Locations: Russian, Syria, Russia, United States, Ukraine, New York, Boston, Washington, Moscow —, Ukrainian

Nvidia's stock rose as high as $502.66, topping a record hit earlier this week, The first trillion-dollar chip maker pared some gains and was last up 0.8%% at $474.6. The technology-heavy Nasdaq Composite (.IXIC), buoyed by Nvidia, rose in early trade before falling by 1.36%. Reuters GraphicsMore than 20 brokerages raised their target price on Nvidia after the earnings. The median analyst price target on the stock has nearly doubled to $600 since May when the company forecast a 50% jump in second-quarter revenue. Short sellers of Nvidia's stock have made $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed.

Persons: Ann Wang, Michael James, James, Elazar, Tom Plumb, Plumb, Matthew Tuttle, Susan Mathew, Chavi Mehta, Medha Singh, Shreyashi Sanyal, Shristi Achar, Amruta, Noel Randewich, Varun H, Shinjini Ganguli, Sharon Singleton, David Gregorio Our Organizations: REUTERS, Nvidia, Philadelphia Semiconductor, Marvell Technology, Devices Inc, Intel, Nasdaq, Wedbush Securities, Reuters, Elazar Advisors, Rosenblatt Securities, Plumb Funds, Partners, Tuttle Capital Management, Thomson Locations: Taipei, Taiwan, Clara , California, Bengaluru, Chibuike, New York, Oakland , California

But these days, the gap between the best gaming laptops and best gaming PC desktops is much closer. AdvertisementAdvertisementGaming laptop vs. desktop: PerformanceGaming laptops and gaming desktops both look and run differently. AdvertisementAdvertisementGaming laptop vs. desktop: Heat and required powerAnyone who's ever played on a gaming laptop (or even a regular laptop) is familiar with the burning sensation of a laptop chassis on their thighs. AdvertisementAdvertisementGaming laptop vs. desktop: PriceFor the same amount of performance, gaming desktops are cheaper than gaming laptops. Even if two machines have the same listed specs, desktop hardware is far more powerful than mobile laptop hardware.

Persons: you'll, William Antonelli, —, they're, who's, they've, it'll, They're, I've Organizations: DC, Dell, Mobile, Asus, Gaming

And that $1 trillion of data centers is in the process of transitioning into accelerated computing and generative AI. Additionally, Nvidia announced AI-ready servers to support the VMware Private AI Foundation and help businesses customize and deploy generative AI applications using their proprietary data. Shares of AMD have also surged higher in this year's AI trade, though the role the company plays in the field is less clear. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jensen Huang, Huang, ChatGPT, Nvidia's Huang, It's, We've, Grace Hopper Superchip, it's, hyperscalers, Jim Cramer, Jim, Eduardo MunozAlvarez Organizations: Broadcom, Jim Cramer's Charitable Trust, Devices, AMD, Moore's, Microsoft, Broadcom's, VMWare, VMware, Nvidia, AI Foundation, U.S . Federal Trade Commission, Intel, Tower Semiconductor, ARM, CNBC, View, Getty Locations: China

☆ The US needs a stable Chinese economy. Will Biden’s commerce secretary offer help?
▼ + stars: | 2023-08-24 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —US Commerce Secretary Gina Raimondo will travel to China next week, a visit that coincides with a worsening slowdown in the world’s second largest economy. Gina Raimondo, US commerce secretary, speaks during the SelectUSA Investment Summit in National Harbor, Maryland, US, on Tuesday, May 2, 2023. The Commerce Department announced on Monday that it was removing 27 Chinese companies from US export controls. China’s Ministry of Commerce welcomed the decision, saying it was conducive to trade and reflected the interests of both sides. That was followed earlier this month by President Biden signing an executive order that limits US investment in certain tech sectors of the Chinese economy, including AI and quantum computing.

Persons: Gina Raimondo, Raimondo, ”, Craig Singleton, Ting Shen, Trump, Biden, “, Washington, Donald Trump, It’s, Xi, Singleton, — Kylie Atwood, Jeremy Diamond Organizations: Hong Kong CNN — US, Washington, Foundation for Defense of Democracies, Commerce Department, Beijing, SelectUSA Investment, Bloomberg, Getty, China’s Ministry of Commerce, ” Eurasia Group, Apple, Nike, Intel, Microsoft, General Motors, US Treasury Department, Mintz Group, Bain & Company, Communist Locations: Hong Kong, China, Beijing, Washington, Shanghai, National Harbor , Maryland, United States, Europe, Japan, New York, court

☆ AI startup Hugging Face valued at $4.5 bln in latest round of funding
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Aug 24 (Reuters) - AI startup Hugging Face said on Thursday it was valued at $4.5 billion in a $235-million funding round backed by technology heavyweights, including Salesforce (CRM.N), Alphabet's (GOOGL.O) Google and Nvidia (NVDA.O). The latest round of funding outlines the rapidly growing adoption of artificial intelligence (AI), which has been hailed by many as the next frontier of technology and has attracted some of the biggest investors in Silicon Valley. Following the launch of OpenAI's popular chatbot ChatGPT, several AI startups like Microsoft-backed (MSFT.O) Inflection AI and Google-backed Runway have raised funds. Intel (INTC.O), Advanced Micro Devices (AMD.O), Qualcomm (QCOM.O), IBM (IBM.N), Amazon (AMZN.O) and Ashton Kutcher-backed venture capital firm Sound Ventures also participated in Hugging Face's latest funding round. "In five years, every tech company will be an AI company," Delangue added.

Persons: Ashton Kutcher, Face's, Clément Delangue, Delangue, Shubhendu Satish Deshmukh, Niket, Shweta Agarwal Organizations: Google, Nvidia, Microsoft, Intel, Devices, Qualcomm, IBM, Sound Ventures, Thomson Locations: Silicon Valley, Bengaluru

Here are three major reasons why Nvidia stock — which has amore than tripled so far in 2023 — has not finished its climb, justifying our $600-per-share price target. That's because Wall Street's earnings estimates have been revised much higher than Nvidia stock's more-than-3% post-earnings gain. A forward price-to-earnings (P/E) ratio is calculated by dividing a company's stock price by its annual earnings-per-share (EPS). Using Thursday's midday price of roughly $486 per share, Nvidia stock trades at a 46.6 P/E, based on fiscal year 2024 estimates. That makes Nvidia's stock rally largely an earnings-driven story, not an ascent rooted in multiple expansion.

Persons: Nvidia's, —, Wall, Jensen Huang, Huang, Colette Kress, Grace Hopper Superchip, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nvidia, Micro Devices, Intel, Microsoft, Oracle, Consumer, IDC, Broadcom, AMD, Jim Cramer's Charitable, CNBC Locations: Wednesday's, Santa Clara , California

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