Chipmaker Nvidia (NVDA) is in focus following a report that China has banned the country's major technology companies from buying its AI chips.
The Financial Times reported on Wednesday that the Cyberspace Administration of China (CAC) told firms, including ByteDance and Alibaba (9988.HK, BABA) to stop their testing and orders of Nvidia's RTX Pro 6000D, citing three people with knowledge of the matter.
Nvidia CEO Jensen Huang reportedly told press in London on Wednesday: “We can only be in service of a market if the country wants us to be.”
“I’m disappointed with what I see. But they have larger agendas to work out, between China and the US, and I’m understanding of that. We are patient about it.”
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Shares in Nvidia (NVDA) closed Wednesday session 2.6% in the red, though the stock was up nearly 1% in pre-market trading on Thursday. The reports also weighed on fellow chipmaker Broadcom (AVGO), which fell nearly 4% on Wednesday, but was back up 1.3% in pre-market trading on Thursday.
Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “It’s been a busy news cycle for chip giant Nvidia (NVDA). CEO Jensen Huang’s presence at US-UK trade talks underscores Nvidia’s role in a multibillion-pound push to build AI infrastructure – another sign that sovereign AI demand is becoming a structural growth driver.”
“At the same time, China remains an ongoing headwind, with regulators launching an anti-monopoly probe and new restrictions effectively shutting the door on RTX chip sales, raising doubts about any near-term recovery there,” said Britzman, who holds shares in Nvidia (NVDA). “Still, the company expects Q3 revenue to climb around 55% from last year, a remarkable feat for a business that’s lost one of its biggest markets.”
Mark Zuckerberg, CEO of tech giant Meta (META), on Wednesday unveiled the company's first smart glasses with a built-in display.
Meta (META) said its Ray Ban Display AI-powered glasses have a full-colour, high-resolution display “that's there when you want it and gone when you don't”, allowing users to check messages, preview photos and more, without them needing to pull out their phone.
Each pair comes with a Meta (META) Neural Band, an EMG wristband that translates the signals created by your muscles (like subtle finger movements) into commands for your glasses.
Meta (META) said the glasses will hit shelves of certain retailers on 30 September, with them starting at $799 (£585) for the glasses and EMG band, with plans to expand in Canada, France, Italy, and the UK for early 2026.
