The Rundown Nvidia's H20 Chips are in High Demand from China, Starbucks Cuts 1,100 Jobs
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Feb 25, 2025 The impact of declining stock markets on cryptocurrency takes center stage, highlighting significant market cap losses and high-profile hacks. A closer look reveals how rising demand in China's AI sector is colliding with sanctions affecting Nvidia's H20 chips. Meanwhile, Starbucks makes headlines by cutting 1,100 jobs to streamline operations amidst financial struggles. The market dynamics shift as Li Auto's SUV launch propels its stock, while HIMS faces hurdles due to concerns over its weight loss drug and FDA scrutiny.
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Crypto Market Turmoil
- The crypto market is currently experiencing a downturn, influenced by the overall stock market decline and recent turmoil.
- Factors include a major hack, a meme coin rug pull by Argentina's president, and ongoing uncertainty.
AI Chip Export Restrictions
- Trump plans to restrict AI chip exports to China, impacting NVIDIA's business and the Chinese AI industry.
- China's demand for NVIDIA's H20 chips has surged due to DeepSeek's AI model, comparable to OpenAI's.
Starbucks Cuts Jobs
- Starbucks is cutting 1,100 jobs and menu items to improve efficiency and address struggles in China.
- New CEO Brian Nichols aims to turn around the company.