⚠️ JUST IN: *DELL, NVIDIA AND SMCI COLLABORATE TO POWER ELON MUSK'S GROK AI FACTORY
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▶️ Nvidia shares rose on Wednesday on a report that the Trump administration plans to revise a set of chip trade restrictions called the “AI diffusion” rule. ▶️ The rule, which was proposed in the last days of the Biden administration, organizes countries into three different tiers, all of which have different restrictions on whether advanced AI chips like those made by Nvidia, AMD, and Intel can be shipped to the country without a license. ▶️ The Trump administration plans to rescind the rule, Bloomberg reported on Wednesday. The chip restrictions were scheduled to take effect on May 15. ▶️ Nvidia had no comment on the reported move by the Trump administration. ▶️ Chipmakers including Nvidia and AMD have been against the rule. AMD CEO Lisa Su told CNBC on Wednesday that the U.S. should strike a balance between restricting access to chips for national security and providing access, which will boost the American chip industry. Nvidia CEO Jensen Huang said earlier this week that being locked out of the Chinese AI market would be a “tremendous loss.” 🔴 However, this is more about Middle East than China. Indeed, the changes are taking shape as Trump readies for a trip to the Middle East, where a number of nations including Saudi Arabia and the UAE have bristled at restrictions on their ability to acquire AI chips. Source: Shay Boloor, CNBC
▶️ xAI has partnered with Palantir to drive AI adoption in the financial services sector, focusing on developing AI-driven solutions for businesses. The partnership, unveiled on May 6, extends an earlier collaboration with TWG Global. The collaboration aims to implement AI to enhance growth and operational efficiency, especially in the financial sector, by using "modular AI agents" tailored to specific business needs. AI’s integration at the C-suite level is key to its success, according to both companies, as they seek to unlock AI’s full potential in financial operations. Source: PYMNTS thru Mario Nawfal
👉 Speaking to reporters at a tech conference in Washington, D.C., Huang said China may be “right behind” the U.S. for now, but it’s a narrow gap. “We are very close,” he said. “Remember this is a long-term, infinite race.” 👉 The Trump administration this month restricted the shipment of Nvidia’s H20 chips to China without a license. That technology, which is related to the Hopper chips used in the rest of the world, was developed to comply with previous U.S. export restrictions. Nvidia said it would take a $5.5 billion hit on the restriction. 👉 Huawei, which is on a U.S. trade blacklist, is reportedly working on an AI chip of its own for Chinese customers. “They’re incredible in computing and network technology, all these essential capabilities to advance AI,” Huang said. “They have made enormous progress in the last several years.”