President Donald Trump granted Nvidia Corp. permission to ship its H200 artificial intelligence chip to China in exchange for a 25% surcharge, a move that lets the world's most valuable company potentially regain billions of dollars in lost business from a key global market. The decision was announced by Trump in a post on his Truth Social network, capping weeks of deliberations with advisers about whether to allow H200 exports to China. Trump said he informed Chinese President Xi Jinping about the move and that Xi had responded favorably. He added that shipments would only go to "approved customers," and that chipmakers such as Intel Corp. and Advanced Micro Devices Inc. would also be eligible. The move represents a victory for Nvidia in its push to get Trump and Congress to relax export controls that have kept the company from selling its AI chips to the world's largest semiconductor arena. Chief Executive Officer Jensen Huang has forged a close relationship with Trump since the November 2024 election and has used those ties to make his case that restrictions only boost Chinese domestic champions like Huawei Technologies Co. For an outlook on the market reaction, we heard from Fabien Yip, Market Analyst at IG International. She spoke to Bloomberg's Shery Ahn and Avril Hong.
Plus - Australian Prime Minister Anthony Albanese reminded social media companies that they will be held responsible when a ban on children having accounts takes effect on Wednesday. Under the crackdown, the first of its kind among the world's democracies, platforms including TikTok and Instagram will be required by law to block under-16s from holding accounts or face fines of up to A$49.5 million ($33 million). For more on Australia's social media move, we heard from Terry Flew, Professor of Digital Communication & Culture at the University of Sydney. He spoke to Bloomberg's Shery Ahn and Avril Hong.
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