Bloomberg Technology
Nvidia, ASML Drive Global Tech Rout, Lyft Buys Into Europe
Apr 16, 2025
Join Michael Shepard, Bloomberg Technology Editor, and Peter Elstrom, executive editor based in London, as they explore the pressures facing chipmakers like Nvidia and ASML due to U.S. tariff policies. They discuss Lyft's strategic acquisition of FreeNow to expand into Europe and the implications for its growth and tech integration. Additionally, the conversation touches on antitrust challenges within the tech sector and the need for the U.S. to bolster its leadership in critical technologies like AI and quantum computing.
46:23
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Quick takeaways
- U.S. export restrictions on semiconductors are significantly impacting major chipmakers like Nvidia and ASML, leading to substantial financial write-downs.
- Lyft's acquisition of FreeNow for approximately $197 million represents its strategic entry into the competitive European ridesharing market.
Deep dives
The Impact of U.S. Export Restrictions on Semiconductor Companies
New U.S. government restrictions on semiconductor exports to China are significantly affecting major players like NVIDIA and AMD. Both companies reported substantial write-downs due to these regulations, with NVIDIA announcing a staggering $5.5 billion charge for the first quarter. These restrictions are aimed at preventing Chinese access to advanced semiconductors that could enhance military capabilities and rival U.S. companies in artificial intelligence. As a result, the revenue proportion from China is expected to decline, with forecasts indicating that it could drop to single digits by 2025.
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