Stock Movers Nvidia Expansion Weighs on Stocks; Walmart Drops; Diageo's Tariff Hit
May 19, 2025
Nvidia's shares are down after CEO Jensen Huang announced plans to allow competitor chips in its data centers, highlighting a shift in tech strategies. Walmart is facing pressure as it hints at price increases due to tariffs, despite President Trump's remarks about its profits. Diageo is also feeling the heat from tariffs, projecting significant added costs, but aims to alleviate this through $500 million in cost-cutting measures over the next three years. Overall, key players are navigating turbulent market waters.
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Nvidia's Open AI Ecosystem Strategy
- Nvidia is opening its AI ecosystem to rival chip makers despite concerns about sharing technology with competitors.
- This move reflects the trend of in-house semiconductor development by major clients like Microsoft and Amazon.
Walmart Faces Tariff Price Pressure
- Walmart's shares are falling amid tariff-related price increase warnings despite President Trump's criticism.
- CFO John David Rainey states price increases will occur starting in May due to tariffs.
Diageo Tackles Tariff Cost Impact
- Diageo anticipates a $150 million tariff hit but aims to offset it with $500 million in cost cuts over three years.
- Their strategy is designed to mitigate the impact of US trade tariffs on their bottom line.