President Donald Trump’s decision to allow Nvidia to sell its H200 artificial intelligence chips to China was criticized by Senator Elizabeth Warren as a sellout of American national security. Warren is calling on Congress to pass legislation to impose new chip export restrictions.
Shares of Oracle fell after it missed analysts’ estimates for quarterly sales and provided a disappointing outlook. This resulted in broader pressure on AI-related stocks. Despite this, Jim Cramer believes that while Oracle may face financing challenges, the overall demand for AI computing power remains strong.
The Trump administration revealed new designs for U.S. quarter-dollar coins celebrating the 250th birthday of the U.S., featuring images of pilgrims and former presidents rather than the previously considered civil rights themes.
Rivian Automotive announced the development of new artificial intelligence technology and stated its ambition to roll out self-driving features to its forthcoming vehicles. Despite the advancements, Rivian’s shares fell by as much as 9%.
Broadcom was set to report its fourth-quarter earnings after market close on Thursday. With a soaring stock value, investors are eager to see if the company will continue to capitalize on the AI infrastructure boom with its custom chips, known as XPUs.
In other stock market news, stocks such as Vail Resorts and Eli Lilly performed well, while the Oracle impact resulted in a nearly 5% drop for GE Vernova. Gemini Space Station shares also surged after the cryptocurrency exchange won a license to offer prediction markets to U.S. customers.
Further details such as exact figures for Dow, S&P, and Nasdaq, as well as specific main gainers and losers, were not provided in the provided text.
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