Nvidia’s ‘Trump’ card? AI giant confident amid trade war

Nvidia CEO Jensen Huang has walked back comments he made in January when he cast doubt on whether useful quantum computers would hit the market in the next 15 years.

At Nvidia's "quantum day" event, part of the company's annual GTC conference, Huang admitted that his comments came out wrong. in January, Huang sent quantum computing stocks reeling when he said 15 years was "on the early side" in considering how long it would be before the technology would be useful.

Huang also expressed confidence yesterday that the artificial intelligence chip giant can handle us President Donald Trump's trade war.

"We have a really agile network of suppliers; they are not just in Taiwan or Mexico or Vietnam," Huang said while meeting with journalists at Nvidia's annual developers conference in San Jose, California.

"If we add onshore manufacturing by the end of this year, we should be quite good."

Huang is not expecting tariffs to significantly affect its financial performance in the short term, according to Huang.

He noted that the tariff situation is evolving, and that what it does to Nvidia costs will depend on which countries are targeted by Trump.

Nvidia has laid out plans for more powerful chips, an AI model for robotics, and "personal AI supercomputers" that will let developers work on desktop machines.

Reference Sources

1. cnbc - Nvidia CEO Huang says he was wrong about timeline for quantum, surprised his comments hurt stocks
2. cnbc - Nvidia's CEO did a Q&A with analysts. What he said and what Wall Street thinks about it
3. malaymail - Nvidia’s ‘Trump’ card? AI giant confident amid trade war
4. thestarmy - Nvidia to expand AI reign with new chips, personal supercomputers
5. bussinesstimes - Nvidia CEO says company has not been asked to buy a stake in Intel - The Business Times

Foxconn set to produce EVs for Mitsubishi Motors

(Source: Getty Images)

Taiwan-Based iPhone assembler Foxconn is reportedly finalizing a deal to collaborate with Japanese automaker Mitsubishi Motors on electric vehicles (EVs), according to sources briefed on the matter. Discussions on the EV project have been going on for more than six months, according to multiple sources.

Foxconn chairman Young Liu values the potential collaboration with the Japanese player as a way to prove the contract electronics manufacturer's EV capabilities and open doors to work with other carmakers.

The deal would be a major breakthrough for the Taiwan-Based iPhone assembler's Yearslong ambition to expand its presence in the EV industry, giving it an established automaker as a key client.

A proposed merger between Nissan, Mitsubishi Motors' largest shareholder, and Honda fell through last month, and sources have told Reuters that Nissan is open to working with new partners, including Foxconn. bringing in a contract electronics manufacturer to build its EVs would also mark a major shift for the car industry as it fights back against China's dominance in the EV market.

Reference Sources

1. nikkei - Foxconn closing in on EV collaboration with Mitsubishi: sources
2. bussinesstimes - Mitsubishi Motors to outsource EV production to Taiwan's Foxconn - The Business Times
3. ft - Foxconn set to sign contract to produce EVs for Mitsubishi Motors
4. cna - Mitsubishi Motors plans to outsource EV production to Taiwan's Foxconn, Kyodo says
5. cna - Mitsubishi Motors plans to outsource EV production to Taiwan's Foxconn, says Kyodo

Federal Reserve cuts US economic growth outlook amid Trump tariffs

(Source: Shutterstock)

Asian equities rose on Thursday following an advance on Wall Street after the US Federal Reserve said the economy still looks healthy enough to keep interest rates where they are.

The Kospi climbed 0.5% to 2,641.49, while Australia's s & P/ASX 200 added 1.2% to 7,925.40.

Taiwan's TAIEX jumped 1.8%, while the set in Bangkok edged 0.2% higher.

On Wednesday, officials at the US Federal Reserve cut their US economic growth forecasts and raised their projections for price growth as they kept interest rates on hold. Uncertainty around the economic outlook has increased, the central bank said in a statement, as Donald Trump's controversial bid to overhaul the global economy with sweeping tariffs sparks concern over inflation and growth.

Policymakers at the Fed expect inflation to increase by an average rate of 2.7% this year, according to projections released on Wednesday, up from a previous estimate of 2.5%. The Fed targets inflation at 2%.

However, they also marked down the outlook for economic growth for this year from 2.1% to 1.7%, with slightly higher unemployment by the end of this year.

Reference Sources

1. cna - Most Asian markets track Wall Street rally after Fed rate signals
2. usnews - Stock Market Today: Asian Shares Are Mostly Higher After Advance on Wall Street
3. theguardian - Federal Reserve cuts US economic growth outlook amid Trump tariffs
4. dailymail - Trump issues bombshell demand to Federal Reserve in effort to send economy soaring as 'Liberation Day' tariffs loom
5. nikkei - Fed holds rates steady, leaves outlook unchanged

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.

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