Nvidia H100 chip in the server room of Yotta Data Services Pvt. Data Center in Navi Mumbai, India, Thursday, March 14, 2024.
Dheeraj Singh | Bloomberg | Getty Images
This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.
What you need to know today
Nvidia shares fall after China probe
Artificial intelligence darling Nvidia’s stock price comes under pressure Earlier, Chinese regulators said they were investigating the chipmaker for possible violations of China’s antitrust laws. The Chinese government said on Monday that the investigation is related to Nvidia’s 2020 acquisition of Israeli company Mellanox and some agreements reached during the acquisition.
Oracle shares fall after missing profit forecasts
Oracle Shares of the database software company fell 7% in after-hours trading on Monday. Announcement of fiscal second quarter results The company missed analysts’ expectations and issued weaker-than-expected revenue guidance. Revenue in the September quarter was $14.06 billion, compared with expectations of $14.1 billion, and earnings per share were $1.47, compared with expectations of $1.48.
26-year-old man in police custody following fatal shooting of United Healthcare CEO
Penn State graduate Luigi Mangione is detained by police As ‘strong stakeholder’ in killing United Healthcare CEO Brian Thompson Police found him carrying a pistol, a silencer, a mask and a fake ID. Authorities said Mangione owned a suspected “ghost gun” – which lacked serial members – and was capable of firing 9mm bullets.
Markets retreat from all-time highs
this S&P 500 Index and Nasdaq Index Down from all-time highs Technology stocks lagged on Monday. The tech-heavy Nasdaq fell 0.62% and the S&P fell 0.61%. this Dow Jones Industrial Average down 0.54%. In Europe, Pan-European Stoke 600 It ended higher for the eighth consecutive session, marking its longest winning streak since May.
(PRO) Investing in mid-cap stocks could be the way to go in 2025
Mid-cap stocks may be the best option It’s been a great run lately for 2025 investors. Many investors expect further gains in mid-cap stocks as they offer better business quality than small-cap stocks and have stronger growth prospects than large-cap stocks.
bottom line
Technology stocks have underpinned the strong gains in U.S. stocks this year. But they are not exempt from the laws of gravity.
Big tech stocks underperformed the broader market in Monday trading.
Oracle misses expectations, AMD Downgraded by Bank of America. But perhaps the biggest news of the day involved Nvidia, whose shares have soared 188% this year. China’s State Administration for Market Regulation launched an investigation into the chipmaker’s acquisition of Mellanox and some of the agreements reached during the acquisition. The news sent Nvidia’s stock price down 2.6% overnight.
The development suggests that even as the year draws to a close, the global battle for tech dominance may be intensifying.
Competition between the United States and China in chip manufacturing is intensifying, with the Biden administration announcing a series of restrictions on semiconductor tool makers on December 2.
China subsequently retaliated by banning the export of critical minerals such as gallium On the same day, Four of the country’s top industry associations said Chinese companies should be cautious about buying U.S. chips because they are “no longer safe” and should buy them locally.
Previous trade conflicts have focused on areas such as metals, agricultural products and automobiles. With the incoming Trump administration expected to take a tougher stance on China, will the next trade war focus on chips, which have arguably penetrated into every aspect of our lives?
—CNBC’s Samantha Subin contributed to this report.
