Nvidia, stock market
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The smugglers are facing decades in prison for an alleged conspiracy that involved routing highly coveted chips through Malaysia and Thailand.
Analysts upgraded their outlooks for Nvidia stock on Thursday after a big earnings report from the AI chip maker.
Nvidia's earnings report sparked some positive momentum for its stock on Thursday morning, sending it up as much as 5.1%, and bringing other technology stocks and the broader market up with it. By the afternoon,
1hon MSN
Nvidia CEO urges improved US-China trade relations amid AI chip ban: 'Significant source of revenue'
Nvidia CEO Jensen Huang is urging the U.S. and China to improve trade relations, arguing that access to the Chinese market is essential for American competitiveness in artificial intelligence (AI).
Prosecutors have accused Brian Raymond, founder of AI infrastructure and consulting company Bitworks, and three others of selling coveted Nvidia chips to unspecified Chinese companies.
The chip maker reported record revenue, beating Wall Street estimates and increasing current-quarter guidance.
Nvidia's record quarter and CEO Jensen Huang's comments spotlight high expectations, AI bubble concerns, and the company's market-shaking influence.
The broader market mood wasn’t helped by mixed economic data and uncertainty around the Federal Reserve’s next move, especially after a canceled jobs report and signs of uneven labor-market conditions.