Stock Markets
Nvidia CEO feels safe relying on Taiwan for chips
Nvidia (NASDAQ:NVDA) Corp, a major supplier of chips and computing systems for artificial intelligence (AI), feels “perfectly safe” about relying so much on chip powerhouse Taiwan for manufacturing, its chief executive Jensen Huang said on Thursday.
Some companies have expressed concerns about potential risks to business given heightened military threats by China against the democratic island of Taiwan, which Beijing claims as its own, to Taipei’s strong objections.
Chip manufacturer Taiwan Semiconductor Manufacturing Co Ltd (TSMC) makes chips designed by Nvidia and Huang said his company’s next generation of products would also be made by TSMC, while adding Nvidia would continue to diversify.
“When I was here, in all of our supply chain discussions, we feel perfectly safe,” Huang told reporters on the sidelines of a technology event in Taipei, when asked about the political risk of the world relying so much on Taiwan for chips given the China tensions.
Nvidia was diversified through multiple fabs at TSMC and Huang confirmed it also planned to source from the TSMC fab in Arizona, “so we have a lot of diversity and resilience designed into our supply chain.”
Huang said he planned to meet executives from TSMC and Apple Inc (NASDAQ:AAPL) supplier Foxconn, which makes iPhones and other electronics devices that use AI chips, on Friday.
He had not yet decided if he would visit China after his Taiwan trip, he added.
Nvidia chips have been at the heart of major tech trends from video games and self-driving cars to cloud computing and now AI.
Huang said TSMC, whose founder Morris Chang he had dinner with while in Taiwan, was a world-class company with “immense capacity and incredible agility.”
“I have every confidence that the demand placed on us, which is extremely high, will be served and will be served soon,” Taiwan-born Huang said.
“The process of diversifying in different geographies is an excellent strategy by TSMC and so TSMC is now part of Nvidia’s diversity and redundancy strategy.”
Nvidia, the world’s most valuable listed semiconductor company, joined an elite club of U.S. companies with a $1 trillion market value on Tuesday, as investors piled into the chipmaker that has quickly become one of the biggest winners of the AI boom.
Huang is hugely popular in Taiwan and has received a rock star welcome during his visit to Taipei, including being surrounded by adoring fans seeking selfies after a keynote address on Monday attended by thousands of people.
Last month, Nvidia announced a second-quarter revenue target more than 50% above Wall Street estimates with plans to boost supply to meet surging demand for its AI chips.
Constellation Energy (NASDAQ:) Corp. is on the verge of acquiring Calpine Corp., a move that could mark one of the most significant transactions in the power generation industry, Bloomberg reported on Wednesday.
Baltimore-based Constellation is negotiating with Calpine’s private equity owners to finalize the terms of a deal that could place the value of Calpine at approximately $30 billion, including the assumption of debt, the report said, citing people familiar with the matter.
The potential acquisition, which could be announced within the next few weeks, is still subject to ongoing deliberations, report added.
Constellation’s interest in Calpine underscores the strategic moves within the power sector as companies seek to consolidate and expand their market presence.
While the exact terms of the deal are still being discussed, the acquisition’s completion would likely have considerable implications for both Constellation and the wider power generation sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By John Irish and Alexander Ratz
PARIS/BERLIN (Reuters) -European Union sanctions in Syria that obstruct the delivery of humanitarian aid and hinder the country’s recovery could be lifted swiftly, France’s foreign minister said Wednesday.
The United States on Monday issued a sanctions exemption for transactions with governing institutions in Syria for six months after the end of Bashar al-Assad’s rule to try to ease the flow of humanitarian assistance.
Speaking to France Inter radio, Foreign Minister Jean-Noel Barrot said the EU could take a similar decision soon without giving precise timing, while adding that lifting more political sanctions would depend on how Syria’s new leadership handled the transition.
“There are other (sanctions), which today hinder access to humanitarian aid, which hinder the recovery of the country. These could be lifted quickly,” said Barrot, who met Syria’s de facto leader Ahmed al-Sharaa on Friday with Germany’s foreign minister.
“Finally, there are other sanctions, which we are discussing with our European partners, which could be lifted, but obviously depending on the pace at which our expectations for Syria regarding women and security are taken into account.”
Three European diplomats speaking on condition of anonymity said the EU would seek to agree to lift some sanctions by the time the bloc’s 27 foreign ministers meet in Brussels on Jan. 27.
Two of the diplomats said one aim was to facilitate financial transactions to allow funds to return to the country, ease air transport and lessen sanctions targeting the energy sector to improve power supplies. A third said Germany had put forward a position paper on the potential sanctions to be lifted.
“Due to the new situation, existing sanctions are under scrutiny. Germany has already pitched ideas on this issue,” German foreign ministry spokesperson Christian Wagner said on Wednesday.
“The focus lies on economic questions and return of funds of the Syrian diaspora,” he said.
Syria suffers from severe power shortages, with state-supplied electricity available two or three hours per day in most areas. The caretaker government says it aims to provide electricity for up to eight hours per day within two months.
The U.S. waivers allow some energy transactions and personal remittances to Syria until July 7, but do not remove any sanctions.
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel’s blocked acquisition of U.S. Steel received a “thorough analysis” by an interagency national security review body that was sent to President Joe Biden.
Yellen, in a live interview on CNBC, said she could not discuss specifics of the review of the merger blocked by Biden last week that is now the subject of a lawsuit that alleges that the review by the Committee on Foreign Investment in the United States (CFIUS) was not conducted in good faith and was prejudiced by Biden.
“I think, as you know, there is ongoing litigation over this case, and as head of CFIUS, I regret there is very little substantive that I can say to you about this,” Yellen said. “Other than that, CFIUS did analyze the specifics, as it always does of this situation, and prepared a thorough analysis to go to the president.”
Forex2 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Unbiased review of Pocket Option broker
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Forex2 years ago
The dollar is down again against major world currencies
