The US government has begun the approval process for Nvidia (NVDA.US) to export its H200 chips to China, Reuters quoted sources as saying.

The US Department of Commerce has submitted the chip export license application to the State Department, Department of Energy and Department of Defense for review.

It is believed that these departments have 30 days to conduct their evaluations, and US President Donald Trump will have the right of final decision.
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As the US inflation rate for November unexpectedly fell to 2.7% and Micron (MU.US) delivered benign results, the US stock market was booming across the board Thursday.

The DJIA closed up 65 points or 0.1% at 47,951. The Nasdaq rose 313 points or 1.4% to close at 23,006. The S&P 500 climbed 53 points or 0.8%, closing at 6,774, ending a four-day losing streak.

Micron's 1FQ earnings beat expectations, lifting the company's stock price by 10% for the day. Other AI stocks were also on the rise. Oracle (ORCL.US) grew nearly 1%. AMD (AMD.US) and Nvidia (NVDA.US) advanced nearly 2%.
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To better meet the consumer demand for car purchases, and in accordance with Guangzhou's second round of auto consumption promotion activity implementation details for Guangdong Quality Products Purchase, as well as the overall arrangement of provincial and municipal budget funds, it has been decided to supplement the activity funds by RMB300 million, according to Nanfang+.

Of which, the subsidy standards of RMB4,000 and RMB5,000 each have a fund limit of RMB150 million, with 37,500 and 30,000 quotas respectively.
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American billionaire Elon Musk said at a company-wide meeting held at the headquarters of xAI in San Francisco last week that xAI will surpass all competitors if it can endure the next 2-3 years, according to foreign media reports.

Sources revealed that Musk hailed xAI's receipt of an annual fund of around USD20-30 billion and close ties with his other companies, edges that make it advantageous over other AI companies. Previously, Tesla (TSLA.US) had integrated the Grok model developed by xAI into its vehicles.

It is also said that Musk estimated xAI to achieve general AI that reaches or surpasses human intelligence within a few years, possibly as early as next year.
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Alphabet (GOOGL.US)'s Google is advancing a project codenamed TorchTPU, Reuters quoted sources as saying.

This initiative aims to make its TPU AI chips better suited for the world's most widely used AI software framework, PyTorch, ensuring full compatibility with customers who have already built their technology architecture based on PyTorch, with an effort to make its TPU a viable alternative to Nvidia (NVDA.US)'s GPU.

PyTorch is an open-source project supported by Meta Platforms (META.US), and is one of the most commonly used tools by AI model developers. The project consists of a set of pre-written code libraries and frameworks that automate many common tasks in developing AI software.
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After taking in US economic data, US stock market finished lower across the board on Wednesday. The DJIA opened higher but wiped off its early gains of 273 points, ultimately closing down 228 points or 0.5% at 47,885. The S&P 500 also lost 78 points or 1.2%, closing at 6,721, marking a four-day downfall along with the DJIA. The Nasdaq slid 418 points or 1.8%, closing at 22,693.

AI stocks faced another round of sell-offs, with reports indicating uncertain prospects for Oracle's (ORCL.US) Michigan data center plan, denting its stock by 5.4%. Broadcom (AVGO.US) also dived 4.5%, and NVIDIA (NVDA.US) fell off 3.8%.

Tesla (TSLA.US), which touched a new closing high on Tuesday, retreated from its peak, ending down 4.6%. Apple (AAPL.US) and Meta (META.US) both lost around 1%.

The board of Warner Bros. Discovery (WBD.US) rejected Paramount's (PSKY.US) hostile takeover bid. Paramount cratered 5.4%, while Warner Bros. shrank 2.4%. Netflix (NFLX.US) inched up by 0.2%.
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The Academy of Motion Picture Arts and Sciences announced on Wednesday that it had signed a multi-year agreement with Google's YouTube to globally live stream the Oscars ceremony starting in 2029.
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In the first two weeks of December, retail sales in China's new energy passenger vehicle (NEV-PV) market reached 476,000 units, down 4% YoY but up 1% MoM, according to data released by the China Passenger Car Association (CPCA).

So far this year, the cumulative retail sales have reached 11.948 million units, representing an 18% YoY growth, with NEVs achieving a penetration rate of 62.3% in the passenger vehicle market.
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Amazon (AMZN.US) is negotiating to invest in OpenAI, with the investment potentially reaching at least USD10 billion, pushing OpenAI's valuation past USD500 billion, Bloomberg reported, citing sources.

It is understood that the negotiations are still in the preliminary stages, and OpenAI may also adopt Amazon's Trainium chips besides the capital injection.
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Apple (AAPL.US) is in preliminary talks with Indian chip manufacturer, CG Semi, for the assembly and packaging of iPhone components. This would mark Apple's first consideration of assembling and packaging some chips in India, according to foreign media.

CG Semi stated that it will not comment on market speculation or discussions with specific customers. If there is concrete news to announce, the company will release it in due course.

Previously, it was rumored that Apple plans to gradually shift the production of most of the iPhones sold in the US to India by the end of 2026, and is accelerating related plans to counter the US tariff hike on Chinese goods.
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