Key Points
- Nvidia said it has yet to generate any revenue from chip sales to China.
- Chip sales have come under scrutiny from both Washington and Beijing amid a tech race.
- Chinese AI firms gained ground through IPOs and lower-cost tech.
Nvidia still hasn’t sold its U.S.-approved China AI chips — and it’s worried local AI rivals could take over
Finance
MP Materials selects Texas for rare earth magnet manufacturing site
Key Points MP Materials has chosen Northlake, Texas, for its new $1.25 billion rare earth magnet manufacturing campus. The facility, dubbed “10X,” will use rare earth raw materials that have been sourced and processed at MP Materials’ Mountain Pass mine in California. Mountain Pass is the only commercial-scale rare earths mine in the U.S. The […]
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Finance
Stocks making the biggest moves premarket: Nvidia, J.M. Smucker, Trade Desk, Nutanix & more
Check out the companies making the biggest moves in the premarket: J.M. Smucker — The food stock popped 7% on better-than-expected fiscal third-quarter results. Smucker earned $2.38 per share, excluding certain items, on revenue of $2.34 billion. Analysts polled by FactSet expected a profit of $2.27 per share on revenue of $2.32 billion. Qnity — […]
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Finance
Stocks making the biggest moves after hours: Nvidia, Salesforce, Snowflake, Nutanix & more
Check out the companies making headlines in after-hours trading. Nvidia — Nvidia reported strong earnings and revenue for the fiscal fourth-quarter , leading shares to add more than 1% in extended trading. Nvidia reported adjusted earnings of $1.62 per share, while analysts expected $1.53 per share, according to LSEG. The chipmaker’s revenue of $68.13 billion […]
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