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Share Markets React to Nvidia’s $5.5B Hit from U.S. Chip Export Restrictions
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Markets React to Nvidia’s $5.5B Hit from U.S. Chip Export Restrictions
In today’s PAI Morning Briefing, we delve into the latest financial developments:
Nvidia’s $5.5 Billion Setback: The U.S. government’s new restrictions on AI chip exports to China have led Nvidia to anticipate a significant financial impact, causing its stock to drop nearly 6% in after-hours trading.
Market Overview: Major indexes show slight declines amid geopolitical tensions, with the S&P 500 down 0.9%, the Dow Jones falling by 180 points, and the Nasdaq decreasing by 1.7%.
Retail Sales Surge: U.S. retail sales increased by 1.4% in March, driven by consumers making purchases ahead of anticipated tariff-related price hikes.
Infinite Reality’s Acquisition: Infinite Reality announces its $500 million acquisition of agentic AI company Touchcast, aiming to enhance its AI capabilities across various platforms.
OKX Expands to the U.S.: Cryptocurrency exchange OKX is entering the U.S. market, establishing a regional headquarters in California and signaling further growth in the digital asset space.
Bank of Canada’s Decision: The Bank of Canada holds its key interest rate steady at 2.75%, citing uncertainties stemming from global trade tensions.
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By PantheonAIIn today’s PAI Morning Briefing, we delve into the latest financial developments:
Nvidia’s $5.5 Billion Setback: The U.S. government’s new restrictions on AI chip exports to China have led Nvidia to anticipate a significant financial impact, causing its stock to drop nearly 6% in after-hours trading.
Market Overview: Major indexes show slight declines amid geopolitical tensions, with the S&P 500 down 0.9%, the Dow Jones falling by 180 points, and the Nasdaq decreasing by 1.7%.
Retail Sales Surge: U.S. retail sales increased by 1.4% in March, driven by consumers making purchases ahead of anticipated tariff-related price hikes.
Infinite Reality’s Acquisition: Infinite Reality announces its $500 million acquisition of agentic AI company Touchcast, aiming to enhance its AI capabilities across various platforms.
OKX Expands to the U.S.: Cryptocurrency exchange OKX is entering the U.S. market, establishing a regional headquarters in California and signaling further growth in the digital asset space.
Bank of Canada’s Decision: The Bank of Canada holds its key interest rate steady at 2.75%, citing uncertainties stemming from global trade tensions.