Nvidia to resume sales of highly desired Artificial intelligence chips to China

Nvidia’s CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used to develop artificial intelligence to China.

The news came in a company blog post late Monday, which stated that the U.S. government had “assured” Nvidia that licenses would be granted — and that the company “hopes to start deliveries soon.” Shares of the California-based chipmaker were up over 4% by midday Tuesday.

Huang also spoke about the coup on China’s state-run CGTN television network, in remarks shown on X.

“Today, I’m announcing that the U.S. government has approved for us filing licenses to start shipping H20s,” Huang told reporters in Beijing.

He added that half of the world’s AI researchers are in China. “It’s so innovative and dynamic here in China that it’s really important that American companies are able to compete and serve the market here,” he said.

Huang recently met with President Donald Trump and other U.S. policymakers — and is in Beijing this week to attend a supply chain conference and speak with Chinese officials.

Nvidia has profited enormously from the rapid adoption of AI, becoming the first company to have its market value surpass $4 trillion last week. However, the trade rivalry between the U.S. and China has been weighing heavily on the industry.

jpmorgan chase ceo Jamie Dimon Backs Jerome Powell Over Trump in Fed Fight

Jamie Dimon, CEO of JPMorgan Chase, went out of his way Tuesday to take exception to President Donald Trump’s posture toward Jerome Powell, the chair of the Federal Reserve.

Trump and his allies have been withering toward Powell, whom they blame for not cutting interest rates and have accused, with no evidence, of political bias.

“Playing around with the Fed can often have adverse consequences — the absolute opposite of what you might be hoping for,” Dimon told reporters after his bank’s quarterly earnings release.

Dimon said he hoped Trump would not attempt to replace Powell before the end of the chair’s term next spring and that the president would support a replacement who was independent.

There is deep support among those on Wall Street for preserving a Fed that is apolitical and free from White House meddling, which they view as a linchpin of America’s free market system. And in other ways, Dimon has an interest in standing up for Powell, because the Fed regulates JPMorgan and other big banks.

Nissan announces it’s shutting down its Oppama plant in Japan to cut costs

Nissan is closing its flagship factory in Oppama, Japan, to cut costs and moving all its production there to another plant in southwestern Japan.

Vehicle production at the Oppama plant in Kanagawa Prefecture south of Tokyo, will end at the end of the 2027 fiscal year, in March 2028, the Japanese automaker said Tuesday.

After that, all models that had been made or scheduled for production at Oppama will be made at Nissan Motor Kyushu, in Fukuoka Prefecture. The Oppama plant has been a prized symbol for Nissan Motor Corp., which rolled out its Leaf electric car there in 2010, ahead of key rivals.

Chief Executive Ivan Espinosa, who took on the job in April, said the decision was extremely difficult, calling the Oppama plant “an icon for Nissan.”

Compiled from Associated Press and New York Times reports.