Merz, Trump discuss Patriots for Ukraine amid U.S. pause
German Chancellor Friedrich Merz spoke with U.S. President Donald Trump to push for Patriot air defence deliveries to Ukraine, amid growing concerns o...
The U.S. government's decision in April 2025 to impose stricter export controls on advanced semiconductors has delivered a significant blow to Nvidia, compelling the company to obtain licenses for sales of its H20 AI chips to China—one of its largest and most strategically important markets.
The H20 chip, previously engineered to comply with earlier U.S. restrictions while maximizing performance, was Nvidia’s most advanced offering available to Chinese customers. However, under the new rules, even these tailored products require export licenses, severely limiting Nvidia’s ability to operate freely in China.
Following the announcement, Nvidia projected approximately $5.5 billion in charges for its fiscal Q1 2026, prompting a stock drop of up to 7% during subsequent trading sessions. The financial impact underscores how vulnerable the company is to geopolitical shifts, particularly as Washington seeks to curb China’s access to cutting-edge AI technology.
In a bid to retain some market presence, Nvidia is planning to launch a downgraded version of the H20 chip in July 2025, according to Reuters. The new variant will feature significantly reduced memory and modified specifications to comply with the updated U.S. export framework. Despite these efforts, the company’s leadership remains starkly realistic about the toll.
During a keynote at the Computex trade fair in Taipei, Nvidia CEO Jensen Huang called the restrictions “extremely costly” and “painfully significant,” revealing that the company has already incurred an estimated $15 billion in lost sales due to the ongoing policy shifts.
The evolving situation reflects the growing strategic tension between maintaining access to China’s $17 billion AI chip market and adhering to U.S. national security directives aimed at limiting Beijing’s technological advancement in artificial intelligence. For Nvidia, and other U.S.-based semiconductor firms, navigating this geopolitical minefield has become increasingly complex—balancing profit potential with regulatory compliance in a time of intensifying U.S.-China tech rivalry.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
The European Union will drastically reduce imports of Ukrainian wheat and sugar, by up to 80%—to protect its farmers, a move expected to shift Ukraine's exports toward Asia and Africa.
The Bank of England has launched a public consultation on future banknote designs.
Unexpected weakness in Germany's manufacturing orders in May signals ongoing uncertainty in industrial demand, despite a yearly rise and sector-specific gains.
Oil futures fell on Friday after Iran reaffirmed its commitment to nuclear non-proliferation and amid expectations that major producers are set to agree to raise their output this weekend.
Russia actively shifted its trade focus away from Europe and the United States, redirecting it toward markets in friendly countries—primarily China, India, Central Asia, Africa, and the Middle East. The share of these countries in Russia's foreign trade has increased from 46% to 82%.
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