Nvidia and AMD have agreed to give the U.S. government 15% of revenue from sales to China of advanced computer chips in an unusual move likely to faze American companies.
Read More Nvidia, AMD to pay 15% of China chip sale revenue to US, official says
Two Southern California residents have been arrested for allegedly illegally exporting “tens of millions of dollars’ worth of sensitive microchips used in artificial intelligence (AI) applications” to China.
Read More DOJ: 2 Chinese nationals arrested for allegedly illegally sending AI chips to China
The S&P 500 and Nasdaq climbed to new record highs after Microsoft’s blockbuster earnings and investor confidence in artificial intelligence.
Read More Wall Street jumps as Microsoft enters $4 trillion club after results
Retail sales rebounded more than expected in June, but some of the increase likely reflected higher prices for some goods exposed to tariffs.
Read More US retail sales beat expectations in June
A U.S. lawmaker plans to introduce legislation to verify the location of AI chips like those made by Nvidia after they are sold.
Read More Exclusive: US lawmaker targets Nvidia chip smuggling to China with new bill
U.S. single-family homebuilding plunged to an eight-month low in March and could decline further as tariffs on imported materials raise costs and offset declining mortgage rates.
Read More US single-family housing starts tumble to an eight-month low in March